ECI Modules Round-Up: Innovative Teaching Resources on Key Economic Issues

By Pratistha Joshi Rajkarnikar

The Economics in Context Initiative (ECI) has developed a series of teaching modules on various environmental and social issues in economics with the goal of advancing the teaching of economics to make it more relevant to understand real-world issues. These modules are grounded in reliable analysis of the world and the economic, social and environmental realities we face today. The modules cover a broad range of topics on social and environmental well-being and sustainability and aim to encourage engaged and critical thinking about key issues in economics.

ECI’s teaching modules are available as free PDFs and can be used as supplements to standard economics courses, as well as courses on development, environmental and political economics. Instructors can also substitute chapters from their standard textbook with ECI modules or link several ECI modules to create innovative courses on environmental and social issues.

Our modules on environmental issues in economics, for example, can be used to create a course on ecological economics as they cover topics, such as the economics of global climate change, land economics, forests, agriculture and climate, and energy economics and policy. Other modules in this collection cover topics such as valuing environmental costs and benefits, contrasting the goal of economic growth with environmental sustainability, and understanding the challenges with transitioning to a green economy.

We also offer a series of modules on social issues, such as consumption and consumer behavior, economic and social inequality, and the importance of public goods in daily lives. These modules provide important insights on limitations of the traditional economic models to understand economic decision-making and recognize issues of inequality and injustice.

The role of economic and political power in influencing well-being outcomes is a key theme in many of our modules. For example, the Power of Capital module explores unequal power relations between different economic classes in the workplace and the political sphere and examines how these relations may be transformed. An overview of the power relations in different kinds of economic systems, including capitalism and socialism, and their implications on issues of economic inequality and environmental sustainability are explored in our module on Comparative Economic Systems.

As ECI modules cover topics that are often left out of standard economics textbooks, they can enrich students’ learning experience by making the curriculum more inclusive and interdisciplinary. Explore the details and materials of some of our recent modules below. Instructor resources with review questions and notes on discussion questions are also available for several of our modules.

Microeconomics and the Environment (Updated 2024)

By Brian Roach, Erin Lennox and Anne-Marie Codur

This module introduces the economic analysis of environmental issues, presenting broader perspectives on sustainability and ecological economics as well as standard environmental economic techniques such as valuation. Applications include fisheries management, sustainable agriculture and global climate change. It has been updated to include the latest data and policy applications.

The Economics of Renewable Energy (Updated 2024)

By David Timmons, Jonathan Harris and Brian Roach

This module covers issues that are central to the transition to renewable energy, including the potential of solar energy, wind, geothermal, biomass, hydropower and other low-carbon energy sources. It stresses the crucial role of energy efficiency in facilitating a transition to renewables, and discusses issues including electrification, energy variability and battery storage. It presents a systems approach to optimizing renewable energy deployment and approaching the goal of 100 percent renewables.  A section on government policy reviews energy taxes and subsidies, renewable energy portfolios, removing regulatory barriers, and special issues of developing renewable energy systems in low- and middle-income countries.

Social and Economic Inequality (Updated 2023)

By Brian Roach, Pratistha Joshi Rajkarnikar, Neva Goodwin and Jonathan M. Harris

This module provides an overview of some of the key issues on economic and social inequality, looking beyond income measures to explore inequalities based on education, health care and discrimination in the labor market. It begins by presenting the definitions and measurements of inequality. Empirical data on inequality in the United States and other countries, along with trends in global inequality are presented next. The module then focuses on what is known about the underlying causes of inequality and discusses possible policy solutions.

Consumption and the Consumer Society (Updated 2023)

By Brian Roach, Neva Goodwin and Julie A. Nelson

This module explores the various motivations behind consumer behavior. Theories on consumption based on neoclassical as well as behavioral economics are discussed. The historical development of the “consumer society” is summarized, including a discussion of the institutions underlying mass consumerism. The impacts of social and environmental aspects on consumption decisions are explored and the relationship between consumption and well-being is surveyed.

Taxes and Tax Policy (Updated 2023)

By Brian Roach

Tax policy is one of the most debated, and often misunderstood, issues in politics and economics. This module provides students with critical tools to understand how taxes work and how they are essential for the government’s functioning. It first introduces the US tax system, including the historical development of tax policies, and then presents an overview of tax systems in other countries along with an international comparison of tax data. An analysis on current tax debates is presented, focusing on issues such as the distribution of tax burden among different groups and the relationship between taxes and economic growth.

Corporate Power in a Global Economy (Updated 2023)

By Brian Roach

Standard economic theory fails to address the economic and political significance of modern multinational corporations. In this module, explanations of firm growth based on economies of scale and scope are supplemented with a discussion of the transnational mobility and influence of large corporations. The social and environmental responsibilities of multinationals are considered, with an emphasis on externalities and the need for a “triple bottom line.” The module concludes with a discussion of ways to encourage large firms to adopt goals that are aligned with the broader goals of society.

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