Kaisa_2012_3_photo by Veikko Somerpuro

Enrol
12.12.2019 at 09:00 - 7.1.2020 at 23:59

Timetable

Here is the course’s teaching schedule. Check the description for possible other schedules.

DateTimeLocation
Tue 7.1.2020
12:15 - 16:45
Wed 8.1.2020
12:15 - 16:45
Thu 9.1.2020
12:15 - 16:45
Fri 10.1.2020
12:15 - 16:45

Material

Luentomateriaalit

Description

The course is recommended for students of consumer economics, economics and social sciences. The course provides basic knowledge of economic concepts, gives an overview regarding what different economic concepts actually measure and explains how the different measures can be used in different types of analysis. Additionally, students will understand critiques of GDP concept as such and its compilation practice and how issues like globalization, digitalization and the sharing economy impact on economic measurement.

Sosiaalitieteiden tai jonkin muun soveltuvan alan kandiopinnot.

SOSM-322 Politics of Consumption

Suositellaan osaksi Kulutus yhteiskunnassa – opintokokonaisuutta.

The course aims to provide knowledge of concepts and principles of measuring of the economy. After completing the course, students will have acquired an overview of how the economy and welfare is measured. The course includes an introduction to the standard quantitative sources such as national accounts and household surveys. The course will discuss the purpose of these various data sources and what they actually intend to measure. This leads to discussion on the GDP criticism, today’s challenges of the measurement of economy and material welfare and to allow students to consider how the different phenomenon in the economy should be measured optimally.

7-10 January 2020, total 20h.

The course is divided into five separate blocks which are described below. After each, a brief list of reference literature is provided for students who are interested in further studying of the topics. The course blocks are the following:

  • Economic measurement: introduction to the system of national accounts (4h): This block gives a short introduction to economic measurement, explains different concepts and briefly explains the basic idea of the national accounting framework.
  • Measurement of welfare/material wellbeing and households – the role of household surveys in measuring the material wellbeing of households (4h): This summarises different types of household surveys and what they intend to measure. Additionally, this block further discusses the different methods and concepts used to measure households.
  • The development of two different traditions: the measurement of economic growth and of welfare (2h): This summarises the historical development of both traditions and discusses the underlying motivations in developing these measurement systems.
  • The criticism to the measurement economy: past GDP criticism and the challenges of the changing world (5h): This part summarises the history of GDP criticism. Additionally, it discusses the current challenges of economic measurement, in particular issues such as the impact of globalization, digitalization and environmental issues. It raises the question: did GDP capture the development of welfare in the past better than it does today?
  • The current initiatives to measure economy (5h): This summarises current initiatives in the measurement of economy (covering the sustainable development and welfare aspects), e.g. the GDP and Beyond initiative, the Sen-Stiglitz-Fitoussi report, the challenges for policy makers and practical on-going initiatives in the OECD, ECB and European Commission.

The course can be completed by attending the lectures and writing an essay on one of the following topics:

1. GDP and the measurement of material wellbeing

Related literature:

  • Fleurbaey, M. (2009): “Beyond GDP: The Quest for a Measure of Social Welfare”, Journal of Economic Literature 47: 1029–1975.
  • Kavonius, I. K. (2018). Talouden ja materiaalisen hyvinvoinnin mittaaminen ja sen haasteet. In J. Autio, M. Autio, E. Kylkilahti, & M. Pantzar (Eds.), Kulutus ja talous – Näkökulmia yhteiskunnan muutokseen: Juhlakirja professori Visa Heinosen 60-vuotispäiväksi (pp. 145-160). (Department of Economics and Management Publications ; No. 70). Helsinki: Helsingin yliopisto, Taloustieteen osasto, https://helda.helsinki.fi/handle/10138/297680
  • Kavonius, I. K. (2019). Varallisuus tuloerojen taustalla: analyysi varallisuuden ja tulonjaon välisestä yhteydestä vuosina 1995-2016. Kansantaloudellinen Aikakauskirja, 115(1), 24-40, https://www.taloustieteellinenyhdistys.fi/wp-content/uploads/2019/02/KAK_1_2019_WEB-26-42.pdf
  • Measuring Welfare and Assessing Sustainability, edited by Marc Fleurbaey and Didier Blanchet, Oxford University Press 2013.
  • Stiglitz, J.E & A. Sen & J-P Fitoussi (2009). Report by the Commission on the Measurement of Economic Performance and Social Progress (In particular chapters 2 and 3), https://ec.europa.eu/eurostat/documents/118025/118123/Fitoussi+Commission+report
  • System of National Accounts 2010 (SNA2010). Commission of the European Communities, International Monetary Fund, United Nations, World Bank, New York 2009 (particularly for reference concerning the economic concepts and measurement of households).
  • Lequillier, F. and D. Blades (2014): “Understanding National Accounts”, second edition, OECD 2014, http://www.oecd.org/sdd/UNA-2014.pdf
  • Understanding Financial Accounts, edited by Peter van de Ven and Daniele Fano, OECD 2017, https://read.oecd-ilibrary.org/economics/understanding-financial-account...

2. Piketty and distribution of income and wealth

Related literature:

  • Piketty, T. (2014): “Capital in the Twenty-First Century”, The Belknap Press of Harward University Press, Cambridge and London 2014.
  • After Piketty – The Agenda for Economics and Inequality, edited by Heather Boushey, J. Brandford DeLong and Marshall Steibaum, Harvard University Press, Cambridge, Massachusetts and London, England 2017. In particular articles: 1 (by Goldhammer), 2 (by Solow), 3 (by Krugman), 10 (by Milanovic) and 22 (by Piketty).
  • System of National Accounts 2010 (SNA2010). Commission of the European Communities, International Monetary Fund, United Nations, World Bank, New York 2009 (particularly for reference concerning the economic concepts and measurement of households).
  • Kavonius, I. K. (2018). Talouden ja materiaalisen hyvinvoinnin mittaaminen ja sen haasteet. In J. Autio, M. Autio, E. Kylkilahti, & M. Pantzar (Eds.), Kulutus ja talous – Näkökulmia yhteiskunnan muutokseen: Juhlakirja professori Visa Heinosen 60-vuotispäiväksi (pp. 145-160). (Department of Economics and Management Publications ; No. 70). Helsinki: Helsingin yliopisto, Taloustieteen osasto, https://helda.helsinki.fi/handle/10138/297680
  • Kavonius, I. K. (2019). Varallisuus tuloerojen taustalla: analyysi varallisuuden ja tulonjaon välisestä yhteydestä vuosina 1995-2016. Kansantaloudellinen Aikakauskirja, 115(1), 24-40, https://www.taloustieteellinenyhdistys.fi/wp-content/uploads/2019/02/KAK_1_2019_WEB-26-42.pdf
  • Lequillier, F. and D. Blades (2014): “Understanding National Accounts”, second edition, OECD 2014, http://www.oecd.org/sdd/UNA-2014.pdf
  • Understanding Financial Accounts, edited by Peter van de Ven and Daniele Fano, OECD 2017, https://read.oecd-ilibrary.org/economics/understanding-financial-account...

3. Changes in economic measurement: globalization and digitalization

Related literature:

  • System of National Accounts 2010 (SNA2010). Commission of the European Communities, International Monetary Fund, United Nations, World Bank, New York 2009 (particularly for reference concerning the economic concepts and measurement of households).
  • Ahmad, N. and P. Schreyer (2016): Measuring GDP in a digitalised Economy, OECD Working Papers 07/2016.
  • Ahmad, N., J. Ribarsky, M. Reinsdorf (2017): Can potential mismeasurement of the economy explain the post-crises slowdown in GDP and productivity growth?, OECD Statistics Working Papers 2017/09.
  • Kavonius, I. K. (2018). Talouden ja materiaalisen hyvinvoinnin mittaaminen ja sen haasteet. In J. Autio, M. Autio, E. Kylkilahti, & M. Pantzar (Eds.), Kulutus ja talous – Näkökulmia yhteiskunnan muutokseen: Juhlakirja professori Visa Heinosen 60-vuotispäiväksi (pp. 145-160). (Department of Economics and Management Publications ; No. 70). Helsinki: Helsingin yliopisto, Taloustieteen osasto, https://helda.helsinki.fi/handle/10138/297680
  • Zucman, G. (2013): “The Missing Wealth of Nations: Are Europe and the U.S. Net Debtors or Net Creditors?”, The Quarterly Journal of Economics 128 (3): 1321-1364.
  • Lequillier, F. and D. Blades (2014): “Understanding National Accounts”, second edition, OECD 2014, http://www.oecd.org/sdd/UNA-2014.pdf
  • Understanding Financial Accounts, edited by Peter van de Ven and Daniele Fano, OECD 2017, https://read.oecd-ilibrary.org/economics/understanding-financial-account...

4. Economic measurement and sustainable development

Related literature:

  • Measuring Welfare and Assessing Sustainability, edited by Marc Fleurbaey and Didier Blanchet, Oxford University Press 2013.
  • Kavonius, I. K. (2018). Talouden ja materiaalisen hyvinvoinnin mittaaminen ja sen haasteet. In J. Autio, M. Autio, E. Kylkilahti, & M. Pantzar (Eds.), Kulutus ja talous – Näkökulmia yhteiskunnan muutokseen: Juhlakirja professori Visa Heinosen 60-vuotispäiväksi (pp. 145-160). (Department of Economics and Management Publications ; No. 70). Helsinki: Helsingin yliopisto, Taloustieteen osasto, https://helda.helsinki.fi/handle/10138/297680
  • Stiglitz, J.E & A. Sen & J-P Fitoussi (2009). Report by the Commission on the Measurement of Economic Performance and Social Progress (In particular chapters related sustainable development), https://ec.europa.eu/eurostat/documents/118025/118123/Fitoussi+Commission+report
  • System of National Accounts 2010 (SNA2010). Commission of the European Communities, International Monetary Fund, United Nations, World Bank, New York 2009 (particularly for reference concerning the economic concepts and satellite accounts).
  • Lequillier, F. and D. Blades (2014): “Understanding National Accounts”, second edition, OECD 2014, http://www.oecd.org/sdd/UNA-2014.pdf
  • Understanding Financial Accounts, edited by Peter van de Ven and Daniele Fano, OECD 2017, https://read.oecd-ilibrary.org/economics/understanding-financial-account...

A reading list related to each particular topic is indicated below under each essay topic. The students are expected to write essays in groups of 2-4 students on one of the topics below. The literature list is meant to be a basic reference and the essay will receive additional credit based partly on the use of diverse literature (literature references should be included at the end of essays with associated footnotes in the main text).

Additionally, during for the lectures for each topic discussed in the course, a list of reference literature will be provided.

Passing the course requires participation in the lectures as well as the writing of an essay of acceptable level on one of the topics above. The essay can be written in groups of 2-4 students. The clear presentation of the topic, logical argumentation and discussion will particularly be rewarded in the assessment. Additionally, the provided literature is solely background literature and diverse use of additional literature will be credited in the assessment of essays (literature references should be included at in the end of essays and with associated footnotes should be included in the main text).

The grade will be determined as described below:

Active participation in course 20%

Essay 80%

Opetuskieli: englanti

Jakso toteutetaan lähiopetuksena.