The crises in economic theory and what it means for sustainability

The crises in economic theory and what it means for sustainability

Principal speaker

Dr Judith McNeill

Economics is the only social science to be awarded an annual Nobel Prize. The so-called ‘queen’ of the social sciences started out as a separate discipline in the late 19th-century, and during its reign the received wisdom has described stable laws, equilibrium tendencies, and regularities that could be described using sophisticated mathematical techniques akin to those used in physics. Indeed, the coherency of much of the mainstream theory was quite awe-inspiring.

All this came to an abrupt halt with the onset of the Global Financial Crisis (GFC) in 2007-08. Although there had been long-standing challenges to the orthodoxy, this real world refutation of the Efficient Markets Hypothesis brought on by the GFC, precipitated what appears to be a period of remarkably widespread humility and disciplinary self-reflection.

In this presentation, Dr Judith McNeill discusses the nature of this introspection and what it might mean for teachers of economics and for the prospects of an economics that is predicated on the principles of sustainability.

Judith McNeill (PhD - UNE) is a Senior Research Fellow in the School of Behavioural, Cognitive and Social Sciences at the University of New England, New South Wales, and a lecturer in the Executive MBA at the Queensland University of Technology. She has been teaching economics for more than twenty years, after an earlier life in Commonwealth and State Treasuries, the Department of the Parliamentary Library and the Office of National Assessments. Her current research is focused on climate change adaptation and mitigation, sustainability economics and most recently, the state of economic theory.

RSVP online, by email or phone (07) 3735 3253.

For more information, see the APCSE website.


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RSVP on or before Tuesday 2 July 2013 , by email apcse@griffith.edu.au , or by phone (07) 3735 3253

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