Economics can be complex – just listening to the news will tell you that – but that doesn’t mean understanding it requires a degree in the subject. In fact, anyone can understand the basic ideas of how the economy works and how economic policy seeks to influence it. Once you know these, watching the news, reading about economic policy and having conversations with your friends and family will suddenly seem a whole lot easier.
In this masterclass, the leading political economist Professor Michael Jacobs will take you through the core ideas of economics and economic policy. You will learn about the key issues and policy questions in the news, such as what causes inflation and why we are now heading into recession, what is happening to wages and employment and why, what ‘economic growth’ actually means, and how we might be able to deal with the climate crisis.
This class will use simple, non-technical language to help you understand, not just what’s happening, but how economists think about it - and why they often disagree with one another.
Course content
Understanding the economy as a whole: consumers, businesses, government and trade
What is economic growth? Productivity, innovation, banking and colonialism
Why do we have booms and recessions? The business cycle
Public borrowing and debt: Keynesianism versus austerity
What causes inflation and how can it be reduced? The Bank of England and interest rates
Wages, work and unemployment: why have earnings stagnated?
The climate crisis: growth, sustainability and environmental policy
This course is for …
Anyone who is interested in the news and current affairs but who hasn’t formally studied economics
Those wishing to become more confident in discussing what’s happening in the economy and economic policy
Tutor profile
Michael Jacobs is a professor of political economy at the University of Sheffield. He is a former member of the Council of Economic Advisers at the Treasury and a special adviser to prime minister Gordon Brown. His research focuses on economic theory, macroeconomic policy and environmental and climate policy. He is a regular contributor to the Guardian and a commentator on television and radio. Michael was the director of the IPPR Commission on Economic Justice, a two-year enquiry into the UK economy, and was principal author of its final report Prosperity and Justice: A Plan for the New Economy (2018). His other books include Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth (2016), Paying for Progress: A New Politics of Tax for Public Spending (2000), and The Green Economy: Environment, Sustainable Development and the Politics of the Future (1991).
Details
Date: Monday 28 November 2022
Time: 6.30pm-8.30pm (GMT)
Price: £49 (plus £2.83 booking fee)
This masterclass is available globally. See this time zone converter to check your local live streaming time.
6.30pm GMT | 7.30pm CET | 10.30am PDT | 1.30pm EDT
You will be sent a link to the webinar 24 hours and 30 minutes before the course start time. Please email masterclasses@theguardian.com if you do not receive the access link 24 hours before the scheduled start time.
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Once a purchase is complete we will not be able to refund you where you do not attend or if you cancel your event booking. Please see our terms and conditions for more information on our refund policy.
