Thursday, January 17, 2019 | ePaper

Rethink your approach to economics

  • Print


G. John Cole :
It's been an unprecedented decade for global economics.
While many of the headlines have fixated upon the big players and the larger aggregate economy, ordinary people have become more fascinated than ever in the role economics plays in our everyday life, from the ebb and flow of the property market to the macroeconomics of managing the household budget.
It's a fascinating field of study, since everything is connected in ways that are widely open to interpretation by different schools of thought. It follows naturally that the pluralist approach to economics has gained a lot of traction in recent years. The philosophy of pluralism in economics recognizes the value of multiple traditions of thought in contemporary scholarship - including Austrian, feminist, institutionalist, Marxian, and Post Keynesian - and seeks to connect and balance disparate cultures and systems for the common good. The idea's key sentiments can actually be traced back over centuries and even millennia, to the idealism and religious pluralism of Warring States-period China. If the idea of studying economics from a pluralist point of view already seems intriguing, there are additional benefits to consider. Whether you want to work in banking, in government, in an NGO, or in business, gaining a broad understanding of the different ways that people analyze economic phenomena allows for a more complex, adaptable, and creative practice - which improves employability. This knowledge and skill base also puts the postgraduate student in a stronger position should they wish to specialize in a particular economic tradition at a later date.
Secondly, the pluralist approach to economics is part of a very contemporary turn towards personal and institutional responsibility within the sectors most closely associated with the subject. There is a whole movement that wants to rethink the academic discipline of economics and situate it within real-world contexts, answering to a diverse culture of needs and demands. Simply put, pluralist economics resonates with the progressive ethics of our time.
Focusing these tools towards the area of development economics can reveal exciting new ideas and solutions regarding the big issues of the 21st century, such as poverty, inequality, and globalization. One university has mastered and is continuing to develop this combinatory approach: SOAS University of London.
With over 5,000 students from 133 countries on campus, it's a dynamic and truly international place to make connections and reflect on global economic tendencies, with a particular emphasis on development economics. Over half of the students are from outside of the UK, attracted to SOAS by the world-class faculty of renowned academics, thinkers, and professionals. Students will find that a program such as the MSc Economics are encouraged to develop a deep understanding of particular countries and issues, based on a concrete analysis of history, institutions, and political economy.
It's an opportunity that will certainly inspire postgraduate economics students to rethink their approach to economics.

(John is a digital nomad and freelance writer for higher education and marketing publications. A native Englishman, he is always on the move but can most commonly be spotted in Norway, the UK and the Balkans).

More News For this Category

Career ideas for female veterans

Career ideas for female veterans

Joanna Hughes :Millions of women all over the world serve their countries. Not only do they boast higher levels of educational attainment compared to their non-military peers, according to

Green lifestyle begins in school

Green lifestyle begins in school

Sarwat Nasir :There are schools in Dubai that have placed sustainability as part of the students' core curriculum. The UAE has a strong focus on reducing its emissions significantly.

Get involved with alumni association

Get involved with alumni association

Elizabeth Koprowski :Admit it. The first time you got an email from your school's alumni association asking for a donation, you were a bit taken aback. After four (or

Public policy degree for a modern career

Public policy degree for a modern career

Alyssa Walker :Public policy studies offer graduates a deep dive into the inner workings of how governments work-voting, regulations, court decisions, federal, state, and local laws-and how we, the

Indigenous studies matter for natural science students

Indigenous studies matter for natural science students

Joanna Hughes :For many years, indigenous people and issues were not only disregarded, but also largely invisible in education. However, as the importance of their impact and influence is

Against gender-based violence in Bangladesh

Against gender-based violence in Bangladesh

Campus Report :The British Council observed the 16 days of activism against gender-based violence on 25 November 2018, which is the International Day for the Elimination of Violence against

Studying Economics is vital in today's world

Studying Economics is vital in today's world

Joanna Hughes :If you watch the news at all, you probably hear the word 'economy' tossed around a lot. But if you're like many people, you may not understand

Libraries shaping the future

Libraries shaping the future

Rayhan Ahmed Topader :A growing body of research suggests that reading for pleasure contributes to well-being. There are a number of ways school libraries can also support well-being, including

Necessity of communication skills

Necessity of communication skills

Reed Markham :Higher education websites often list public speaking as the most feared course in colleges and university today yet training in speech is vital to a student's college

Exam stress!!

Exam stress!!

Mubinur Rahman Chowdhury Nadvi :Exams are rather horrid. But no one can escape it. And while studying, exam is needed to pass and survive in the next class. But