Pigouvian vs. Coasian approach: Ideas, values, perspectives

The paper reveals the characteristics of competing approaches — Pigouvian and Coasian — to identify the grounds for state regulation. We outline the connections between Pigouvian and Coasian approaches with the values and prospects for their advancement in the field of political decision-making in the context of demand for economic knowledge and the possibilities of organizing compensating transactions. These connections are considered in the light of the externalities problem as one of the manifestations of market failure, as well as different internalization options. We also clarify the provisions from the theory of externalities in terms of their definition, classification and correlation with the conditions for optimal allocation of resources. The key types of structural alternatives for correcting market flaws are considered, and the main properties of the Pigouvian and Coasian approaches in economics, as they relate to the problem of market and government flaws, are determined. This helps explain why the Coasian approach cannot be considered synonymous with liberal fundamentalism. Finally, we indicate the relationship between normative conclusions and prospects of functionalism and two types of fundamentalism in the field of political decision-making. Using the example of intertemporal externalities, the difference in the approaches of Coasianism and Pigouvianism to their internalization is demonstrated.

TEACHING ACADEMIC WRITING IN ENGLISH TO STUDENTS OF ECONOMICS THROUGH CONCEPTUAL METAPHORS

The article addresses EFL students’ academic writing competence by fostering and evaluating their writing practices through conceptual metaphors. The research dataset comprised 102 Russian students majoring in economics. The students received the instruction based on the framework of the Conceptual Metaphor Theory during their EAP, ESP and EMI courses in economics. Metaphor Identification Procedure VU University Amsterdam (MIPVU) and the method of metaphoric modeling were used to assess EFL writing competence in economic knowledge domains – knowledge of terms and specific concepts, represented as conceptual metaphors. The statistical analysis did not show significant changes in the writing competence level of students when their EAP and ESP writing was compared. However, statistical differences were revealed in the use of metaphors when the students progressed from their EAP to EMI course and from their ESP to EMI course. The qualitative analysis demonstrated main differences within the conceptual metaphor domains in ESP and EMI writing. On the whole, the results reported here suggest the dynamics of FL writing competence of the Russian students specializing in economics when attending an EAP course, an ESP course and an EMI course in economics at the university.

Sprachliche Herausforderungen an die Rechtsvergleichung im Agrarrecht

Agricultural law combines two opposing directions of development of law in general. One is connected with the local or regional element and indeed, like no other discipline, is linked to a specific region, culture, tradition and linguistic specificity, being a consequence of the specific nature of agricultural law. On the other hand, at the level of the European Union it is characterised by the greatest degree of integration. The Common Agricultural Policy has made agricultural law locally and regionally rooted but, at the same time, it has created a specific technical language of European agricultural law. Therefore, conducting a comparative legal research into the field of agricultural law faces a particular challenge as it requires combining both local and regional linguistic specificities with the European technical language of agricultural law. This relativism of the technical language of agricultural law does not, however, stand in the way of legal comparativism. However, apart from the linguistic knowledge, it requires the researcher to possess thorough cultural, social and economic knowledge of another country. Professor Budzinowski, unlike many other scholars, embodies these skills in his comparative legal research.

Formation and improvement of economic knowledge of labor resources as one of the most important areas of training professional personnel

This article discusses issues related to the need for constant formation and improvement of economic knowledge of labor resources. The main directions of development of financial literacy of employees of an enterprise (organization) are given. The position of improving the special economic knowledge of civil servants, in particular, employees of the departments of the electronic safety and industrial complex is substantiated. In the course of the study, it is concluded that the economic training of any category of labor resources is one of the main factors in increasing the level of economic potential of any state as a whole.

Discourse and Discipline

This chapter advances the claim that to understand the development of economic knowledge from the mid-nineteenth to the mid-twentieth century, one needs to understand the new location that this knowledge found: the modern university. Broad questions of ‘education and economy’ in industrialising societies are raised and placed in an international context. Following on from this, existing work on the ‘institutionalisation’ of economics is reviewed, emphasising the need for detailed knowledge of institutional structures—what was taught, how it was taught, the sources of student demand, and the attitude of employers—if we are to adequately capture the dynamics of an emerging discipline.

Economic Dividends of the Abraham Accords

The UAE and Israel had no direct relations before August 2020, as UAE had not recognized Israel as a state. However, the UAE was keen on building diplomatic relations with all countries in the recent past and is progressively becoming more liberal and tolerant. The UAE signed the historic Abraham Accord with Israel in September 2020. The Abraham Accord is an avenue of peace. It supports the efforts for prosperity and advancement as it paves the way for deepening economic, knowledge and cultural ties between the countries. There are opportunities to expand cooperation, engagement and knowledge sharing in various sectors such as agriculture, energy, technology, tourism, education, health care and services, trade and homeland security, climate issues, water, food security and smart mobility. Since September 2020, several transactions have been signed between Israeli and Emirati firms in different fields, valued at tens of millions of dollars. On the anniversary of the agreements, the volume of trade between Israel and the Emirates amounted to more than $ 100 million per month. The Abraham Accord has paved the way, is gradually improving the relationships in the region, and will slowly but surely lead to better peace and economic prosperity of the region.

What Is ‘Marshallianism’?

Marshall’s intellectual heritage is often described as ‘Marshallianism’, a general designation of his intellectual style as teacher and writer. But what exactly might this mean? While it is not necessarily wrong to describe his work in this way, it is necessary to have a clear idea of what the term denotes. To begin with, the work of Marshall is distinguished from that of his near (senior) contemporary, Stanley Jevons; but his death in 1882 came at a point when his version of economics had been gaining ground in Britain. While soon eclipsed by Marshall, this more formal approach later became the trademark of the London School of Economics in the 1920s, mediated by its Professor of Political Economy, Edwin Cannan. Then the work of Marshall as a teacher is examined, identifying an approach that sought to encourage students to apply their economic knowledge to the contemporary world. What he sought to inculcate in his students is shown by a discussion of the work of two of his students, A. C. Pigou and Sydney Chapman. This is then followed by a consideration of the composition and editorial changes to Marshall’s Principles of Economics, first published in 1890 and reaching a very much changed final edition in 1920, in which form it continued to be reprinted for much of the twentieth century. Notwithstanding the long life of this work, it can then be shown that, by the 1920s, criticism of Marshall’s approach to economic analysis was increasing, signalling the demise of the Marshallian heritage.

Constructing Economic Science

Constructing Economic Science demonstrates how an existing public discourse, political economy, was transformed in the early twentieth century into a new university discipline: economics. This change in location brought about a restructuring of economic knowledge. Finance, student numbers, curricula, teaching, new media, and the demands of employment all played their part in shaping economics as it is known today. It was broadly accepted in the later nineteenth century that industrialising economies required the skilled and specialised workforce that universities could provide. Advocacy for the teaching of commercial subjects was widespread and international. In Cambridge, Alfred Marshall was alone in arguing that economics, not commerce, provided the most suitable training for the administration and business of the future; and in 1903 he founded the first three-year undergraduate economics programme. This was by no means the end of the story, however. What economics was, how Marshall thought it should be taught, had by the 1920s become contested, and in Britain the London School of Economics gained dominance in defining the new science. By the 1930s, American universities had already moved on from undergraduate to graduate teaching, whereas in Britain university education remained focussed upon undergraduate education. At the same time, public policy was reformulated in terms of economic means and ends—relating to postwar reconstruction, employment, and social welfare—and international economics became American economics. This study charts the conditions that initially shaped the “science” of economics, providing in turn a foundation for an understanding of the way in which this new language itself subsequently transformed public policy.

The Economic Literacy Among the Chinese High School Students (part 1)

In today's society, mankind is at a turning point in the context of the fourth industrial revolution and changes in new technologies and production models, which is raising a higher requirement for future labour. In this article, we look at the economic facets of basic education in China, since the mindset of young people is vital to developing a prosperous and better future civilization for mankind. The main topic of our paper is to analyze the economic literary level of the average high school students to assume how they can react and make a contribution to the coming fourth industrial revolution and the future civilization. The research relies on the materials of Chinese high school students’ actual textbooks related to the Fourth Industrial Revolution and Economics, and the book The Future of Humanity: Global Civilization and China's Rejuvenation by Professor Jin Zhouying. During the process of research, we found that, on the one hand, basic economics knowledge during the middle school period is helpful to students' daily life. On the other hand, some of the economics knowledge learned by middle school students cannot catch up with the trends and the texts are scattered in different subject textbooks. Therefore, due to innovative knowledge of youth, the relevant high school economics textbooks should be more keeping up with the times and provide more systematic and professional economic knowledge.