Philosophy of Economics (KA Elective) / Økonomisk filosofi (KA Valgfag)

The Academic Board of Philosophy, Odense
Teaching activity id: 4324461.
Teaching language: English.ECTS / weighting: 10 ECTS / 0.167 full-time equivalent.
Examination language: English.
Periode: Spring 2018.Approved: 13-10-17.
Grading: Internal grading with co-examiner.
Assessment: Grade.
Offered in: Odense.

Subject director:
Alessandra Cenci.

Prerequisites:
This subject can only be taken by students with majors in philosophy and minors in a subject at another faculty at SDU.

Purpose:
The student must be able to demonstrate the overview of and insight into a topic of philosophical relevance, which is not the subject of one of the other subjects of the programme.
Generally, electives can be taken at any institution of higher education in Denmark or abroad, as long as the content is of relevance to philosophy. If a student wants to take an elective at another institution of higher education or another study board in the Faculty of Humanities, he/she must contact the Study Board for Philosophy and ensure that the electives can be approved.



Content - Key areas:
Electives include teaching within a more defined subject or field of relevance to philosophy. The subject must be approved by the study board.

As Daniel Little suggested, the Philosophy of Economics concerns itself with conceptual, methodological, and ethical issues that arise within the scientific discipline of economics. A primary focus is on issues of methodology and epistemology—the methods, concepts, and theories through which economists attempt to arrive at knowledge about economic processes. Philosophy of economics is also concerned with the ways in which ethical values are involved in economic reasoning—the values of human welfare, social justice, and the trade-offs among priorities that economic choices require. The course will focus on foremost debates within the Philosophy of Economics (e.g. nature/scope of economics, economic laws, challenges to descriptive-predictive capacity of economic models, justification/objectivity of economic knowledge (e.g. against natural sciences). The program includes discussions on: a) tension between value-free and value-laden science in economics (i.e. positive and normative research/methods); b) the economic rationality (i.e. utility theory) and recent -behavioural/cognitive and normative- alternatives (i.e. in cognitive psychology, behavioural economics, recent philosophical ‘rationality of ends’ views; 4) Game theory and recent evolution in Cooperation theory; 5) theory of value (in economics) and mainstream contemporary approaches to equality and redistributive justice; 6) foundations of economic methodology (i.e. welfare analysis and economic evaluation in poverty, inequality, health research). The course will be particularly focused on clarify the challenges that people’ diversity, pluralism, multiculturalism, values disagreement, structural inequalities entail for standard decision/economic models as well as how some recent proposals deal with them. Some examples: how economics/economic models descriptive, predictive, prescriptive capacity can be improved in order to most profitably guide the design of public policy making and achieving valuable social outcomes. Analogously, which methods could be adopted to provide more precise and reliable knowledge to policy makers. Hence, how/why recent research in economics/economic evaluation tries to review/enrich the philosophical - behavioural, normative and moral- foundations of standard economic methodology in order to improve analysis and results obtained.

Goals description:
The student must be able to demonstrate the overview of and insight into a topic of philosophical relevance, which is not the subject of one of the other subjects of the programme.
Generally, electives can be taken at any institution of higher education in Denmark or abroad, as long as the content is of relevance to philosophy. If a student wants to take an elective at another institution of higher education or another study board in the Faculty of Humanities, he/she must contact the Study Board for Philosophy and ensure that the electives can be approved.


Literature:
Main readings-Text books

Julian Reiss (2013). Philosophy of Economics: A Contemporary Introduction. Routledge contemporary introduction to philosophy.

Daniel Hausman (Ed.) 2007. Philosophy of Economics: An anthology (Third edition). Cambridge university Press, Cambridge.

You can find the information via Blackboard.

Time of classes:
Monday from 2 pm to 5 pm in room 72

Scheduled classes:
3 hours a week

Form of instruction:
Depends on the chosen subject.
For courses offered by the Study Board for Philosophy:
Lectures, group teaching and training sessions. The weekly training session will typically be run in direct extension of the lesson


Time of examination:
Depends on the chosen subject.
For courses offered by the Study Board for Philosophy:
Considering the exam form and the study level, specific emphasis is placed on the extent to which the student’s performance meets the learning objectives, as well as to what extent the student masters the general competency objectives mentioned in § 2, particularly Numbers 1, 2, 3, 4, 5, 6, 7, 9, 13, 14 and 15, which the course pays special attention to.


Form of examination:
Depends on the chosen subject.

For courses offered by the Study Board for Philosophy:

The student must submit a synopsis (2-3 pages) prior to the exam. If the student so wishes, this will be presented at the exam. The examiner should not start with a question unless the student himself/herself wishes to. The student should prepare a presentation of between 5 and 10 minutes, but must be prepared for the exam to proceed as a discussion about the exam topic. The examiner and censor can always supplement with questions about the syllabus.

Method of assessment: Oral exam with synopsis
Duration: 30 min. incl. grading
Preparation: No
Tools: Written synopsis, as well as reading list
Submission deadline for synopsis: No later than one week before the exam
Scope of the synopsis: 2-3 pages
Grading: Internal test with two examiners
Assessment: 7-point grading scale
Weighting: 10 ECTS

Re-examination:
Same as the regular exam

The rules for exam registration for the electives in Philosophy are as follows: Students who do not pass the subject in the ordinary test must register for a re-examination (2nd attempt) in the same examination period. If you do not register yourself, you will be enrolled by the university. Students who do not pass upon re examination must register for the third attempt at the next examination period. If you do not register yourself, you will be enrolled by the university. The elective must, therefore, be passed within one year. See more in § 6 of the common provisions.

For all electives, it will be clear how the rules for the exam registration are from the course description under the subjects offered on the SDU website.


Programmes:
Philosophy, master
2. semester, elective subject. Offered in: Odense