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Introduction to Ecological Economics The Human Sub-System Module Topic: Distribution, Accounting (national), Monetary and Fiscal Policy; Money Course Learning Outcome(s): 1. Formulate a whole system approach to the human subsystem structure and function. Module Outcome(s): 1. Critique conventional theories of macroeconomic s from empirical validity of underlying assumptions to desirability of theoretical outcomes. Sub-Module Outcome(s): Money 2. Analyze the current monetary system, identify its strengths and weaknesses, investigate more sustainable, just and efficient alternatives Activities: Answer one of the two following questions: At the end of this section you should be able to answer the following questions: What alternative to GNP can address those shortcomings? Accep ting the goals of EE, How would you use monetary and fiscal policy to solve the current financial crisis? How would you use monetary and fiscal policy to achieve the goals of EE? How would you use monetary and fiscal policy to solve your problem? Sub-Module Outcome(s): Distribution 3. Analyze the current distribution, the role of distribution in quality of life and economic efficiency. Examine mechanisms for creating a more desirable distribution. Activities: Sub-Module Outcome(s): GNP/National Accounts 4. Assess the effectiveness of GNP and it’s alternatives as measures of economic welfare. Activities: 1. 2. Go to the newspaper and find 3 issues related to your projects that effect GNP. 3 issues related to your projects that effect human welfare but have no impact on GNP. Do the activities that affect GNP do so appropriately? I.e. is there a direct relationship (when one increases so does the other and vice versa). How does society’s goal of an increase GNP effect the decision making process about issues relevant to your project? Describe how one of the alternative mechanisms we’ve studied would address the shortcomings of these activities. (one page paper) Sub-Module O u t c o m e ( s ) : I S L M ( I n t e r e s t , s a v i n g s , l i q u i d i t y , a n d m o n e y ) F r a m e w o r k f o r M o n e t a r y a n d F i s c a l P o l i c y 5. Apply monetary and fiscal policy to achieve ecological economic goals. Activities:: 1. Context of current financial crisis how would you apply monetary and fiscal policy to achieve ecological economic goals. Pretend you are an advisor to Bernanke and Bush. What would you do? 2. View the video on the Subprime mortgage crisis explained. (youtube) 3. Self Check: Submit as Proof(s) of Learning: For more information about this module and its contents, contact your instructor.