Contemporary Economic Affairs

Numbering Code U-ECON00 10401 LJ43 Year/Term 2022 ・ First semester
Number of Credits 2 Course Type Lecture
Target Year 1st & 2nd year students Target Student
Language Japanese Day/Period Wed.3
Instructor name HISANO SHUJI (Graduate School of Economics Professor)
OKA TOSHIHIRO (School of Government Professor)
MOROTOMI TORU (Graduate School of Economics Professor)
KUROSAWA TAKAFUMI (Graduate School of Economics Professor)
Outline and Purpose of the Course Contemporary Economic Affairs is one of the introductory courses but does not introduce the "basics" of a particular field of economics. This course takes real social and economic issues that are significant today and attempts to analyze them from a comprehensive and multifaceted perspective, albeit at an introductory level. The purpose of this course is to foster an interest in problems and develop sensibilities and the "ability to wonder" in the social sciences. In this semester, four instructors will discuss topics such as financialization and globalization of the economy, food security issues, global environmental issues, and sustainable development, while learning from the ideas of great economists of the past in order to understand and solve contemporary economic problems.
Course Goals Throughout the course, students will be developing an interest in daily news related to the world economy, Japanese economy, and regional economy; able to grasp their contents from a variety of perspectives in economics and social sciences; and given the ability to form a picture of the economic events and policy intentions behind the news.
Schedule and Contents The course will be taught in the following four parts:

Week 1-4
Part 1: [Morotomi] Theme: "Economics and Contemporary Economic Issues"
In this part, while taking up several major economic problems of today, we will think about how to solve them and draw up contemporary implications by looking back on the ideas of great economists in the past. Throughout the following five lectures, I will discuss with students the possibility of the theoretical framework of those great economists.
- How has economics been trying to solve economic problems?
- From Adam Smith to Keynes and Schumpeter
- Relationship between real economy and financial economy
- Global warming and economics
- Relationship between the market and the state, the future of capitalism

Week 5-7
Part 2: [Oka] Theme: "Buying Safety with Money"
Risk theory and what you need to know about the economics of the environment, energy and nuclear power. About the economics for.
- The facts about radioactive contamination from nuclear accidents.
- The definition of 'safety' as dependent on economy.
- The economics of efficiency and its limits

Week 8-10
Part 3: [Hisano] Theme: "Contemporary Society through the lens of Agriculture and Food"
With the advent of the food insecurity era, agriculture's role as a "multi-value industry" has attracted renewed attention. In the lectures, we will address the following points concretely while presenting a multidimensional and interdisciplinary perspective to capture the multifunctionality of agriculture and food.
- Food security and international political economy
- From production to consumption of food
- A paradigm shift in agriculture, farmers and rural communities

Week 11-14
Part 4: [Kurosawa] Theme: "Globalization, Anti-Globalism and Multinational Enterprises
In the past quarter century, globalization has transformed the world, and in the 21st century, the rise of emerging economies has become a major theme. However, in recent years, as symbolized by Brexit and the “America First" policy pursued by the Trump administration, movements that can be perceived as "anti-globalization" have become apparent, causing a new shock. In this fourth part, we will examine the problems that arise between the principles of mobility and the nation-state, focusing on the international dynamics of corporations and industries.
- The two waves of globalization and emergence of multinational enterprises
- Disparity, tax avoidance and the nation-state
- The Competitive Advantage of Nations or Transnational Value Chains?
- Tension between migration and the logic of welfare state

Week 15
Feedback
Evaluation Methods and Policy Evaluation through regular exams.
Course Requirements None
Study outside of Class (preparation and review) Instructions on preparation and review will be given during the class.
Textbooks Textbooks/References Humanities - Economics, MOROTOMI, Toru, (Iwanami Shoten, 2009), ISBN:9784000283250, in Japanese
Introduced in Class
References, etc. Introduced in Class
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