Economics: Growth or Degrowth?



Overview

Surely growth is always a good thing. Yet in recent years some thinkers have been challenging the consensus that economic growth is an unalloyed good. So, should governments no longer aim to foster economic growth and instead aim at something else? If so, what should that alternative be?

There are several forms of challenge to economic growth. One is that the quest for material advantage does not bring about genuine benefits. Perhaps relatedly, where governments pursue growth in Gross Domestic Product (GDP) the result is disappointing. Material gains do not seem to lead automatically to greater levels of happiness. Does this mean that GDP is the wrong measurement, such that pursuing an increase in GDP is not going to lead to a better outcome?

A second challenge is that economic growth comes at the expense of environmental sustainability. Scientists have been reporting environmental damage to land, rivers, oceans and the atmosphere (climate) for decades, yet their degradation and destruction has continued. Is this destruction due to the quest for GDP growth? Is it due to human nature? Or is it the economic system? Is the problem then capitalism and the solution to replace it with eco-socialism? Or is a reformed capitalism in fact the best available response to environmental problems? Would that reformed capitalism also seek economic growth or something else?

As we see, questions about growth automatically lead to discussions not only of what to measure and target, but also how to undertake economic analysis and what kind of economic system we should have. The course will therefore consider options such as ‘eco-socialism’ and whether capitalism can be reformed to provide sustainable prosperity.

This short course considers the arguments of thoughtful economists about the topic of economic growth, encouraging you to come to your own considered position on this major discussion point of our age. 

Programme details

Course starts: 2 Oct 2024

Week 1:  What is the point of the economy? 

Week 2:  Isn’t growth good? The case for economic growth

Week 3:  Are there limits to growth?  

Week 4:  What is GDP? What does it miss? What are the alternative measures? 

Week 5:  Can “Green Growth” and capitalist innovation save the day?

Week 6:  The case for degrowth: Is eco-socialism necessary? 

Week 7:  Is it possible to have prosperity without growth? 

Week 8:  Doughnut economics: Should we stay within the Dough? 

Week 9:  Can a reformed capitalism be kinder to people and planet? 

Week 10:  Putting it all together: Growth, degrowth or growth agnosticism? 

Digital Certification

To complete the course and receive a certificate, you will be required to attend at least 80% of the classes on the course and pass your final assignment. Upon successful completion, you will receive a link to download a University of Oxford digital certificate. Information on how to access this digital certificate will be emailed to you after the end of the course. The certificate will show your name, the course title and the dates of the course you attended. You will be able to download your certificate or share it on social media if you choose to do so.

Fees

Description Costs
Course Fee £285.00
Take this course for CATS points £30.00

Funding

If you are in receipt of a UK state benefit, you are a full-time student in the UK or a student on a low income, you may be eligible for a reduction of 50% of tuition fees. Please see the below link for full details:

Concessionary fees for short courses

Tutor

Dr Doug Bamford

Doug Bamford teaches courses in philosophy and political economy at OUDCE. His main interest is in political philosophy and its application to public policy. He obtained his PhD in 2013 and became an Associate Fellow of the Higher Education Academy (AFHEA) in 2023. He is author of Rethinking Taxation (Searching Finance, 2014) and several papers (including articles in the Journal of Applied Philosophy, Moral Philosophy and Politics, Problema, and Think). He blogs at Doug Bamford's Tax Appeal.

Course aims

Students should learn how to assess various responses to environmental destruction, and the arguments for and against economic growth and degrowth. 

Course objectives:

  • Gain an understanding of the different ways of judging economic policy success.
  • Understand the arguments for economic growth and degrowth.
  • Present and defend their own views on these issues.

Teaching methods

Students will be asked to read one or two relevant texts each week before class. Classroom sessions will consist of a mixture of activities including active lecturing, small group discussion and open debate.

Learning outcomes

By the end of the course students will be expected to:

  • Outline the arguments for and against economic growth;
  • Assess rival economic policy aims;
  • Advocate their own position on economic growth in writing and in open debate.

Assessment methods

Coursework will consist of either one essay of 1500 words or two or three smaller essays totalling this amount.

Coursework is an integral part of all weekly classes and everyone enrolled will be expected to do coursework in order to benefit fully from the course. Only those who have registered for credit will be awarded CATS points for completing work the required standard.

Students must submit a completed Declaration of Authorship form at the end of term when submitting your final piece of work. CATS points cannot be awarded without the aforementioned form - Declaration of Authorship form

Application

To earn credit (CATS points) for your course you will need to register and pay an additional £30 fee per course. You can do this by ticking the relevant box at the bottom of the enrolment form or when enrolling online.

Please use the 'Book' or 'Apply' button on this page. Alternatively, please complete an Enrolment Form (Word) or Enrolment Form (Pdf)

Level and demands

The Department's Weekly Classes are taught at FHEQ Level 4, i.e. first year undergraduate level, and you will be expected to engage in a significant amount of private study in preparation for the classes. This may take the form, for instance, of reading and analysing set texts, responding to questions or tasks, or preparing work to present in class.

Credit Accumulation and Transfer Scheme (CATS)

To earn credit (CATS points) you will need to register and pay an additional £30 fee per course. You can do this by ticking the relevant box at the bottom of the enrolment form or when enrolling online. Students who register for CATS points will receive a Record of CATS points on successful completion of their course assessment.

Students who do not register for CATS points during the enrolment process can either register for CATS points prior to the start of their course or retrospectively from the January 1st after the current full academic year has been completed. If you are enrolled on the Certificate of Higher Education you need to indicate this on the enrolment form but there is no additional registration fee.

Terms & conditions for applicants and students

Information on financial support