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Instructors: Dr. Colin Negenborn
Event type:
Seminar
Displayed in timetable as:
Hours per week:
3
Credits:
6,0
Language of instruction:
English
Min. | Max. participants:
- | 45
Comments/contents:
In this seminar, we will critically assess the role of markets in society. Oftentimes, markets are said to function – or to fail – without explication the objective they are to satisfy, and without distinguishing between the market itself and its surrounding infrastructure. The seminar aims to disentangle these issues and to address questions such as:
- How (and when) does the “invisible hand” work? What are the benefits and burdens generated by markets, and how are these distributed? (Mandeville, Smith, Hegel, etc.)
- When can markets be considered “efficient”? Can we expect the market to satisfy criteria beyond efficiency or should we rely on non-market institutions for such other criteria? How about the epistemic requirements markets rely on? (Herzog)
- How far-reaching should should market approaches be, beyond the purely economic into the social and private realm? Should we evaluate more aspects of social interaction from a market perspective (Becker, Friedman) or should be rather be aware of potentially repugnant markets (Roth, Satz, Sandel)?
Learning objectives:
The seminar shall allow students to assess the nature of markets in a more nuanced way, both from the perspective of economic theory and practical philosophy. Students will be able to identify the prerequisites and limitations of market solutions, but also their benefits.
Didactic concept:
Weekly readings will be prepared individually and discussed jointly. The seminar will be a mix of plenary sessions and group exercises to encourage active participation of all attendees. Students are required to submit and present a position paper in class once. The final exam is a term paper. Details will be discussed during the introductory session.
Please note that the first three sessions will start half an hour late, i.e. 11:45 instead of 11:15.
Literature:
A detailed syllabus will be provided via OpenOLAT.
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