Outline

Overview

We will explore questions at the intersection of economics and philosophy, such as: What is it to make rational decisions, and how well do we live up to the rational ideal? Does individual selfishness promote the common good? Are there things that should be kept out of the market? What should be the goals of economic policy? Is economics a science?

Unit details and rules

Unit code	PHIL3611
Academic unit	Philosophy
Credit points	6
Prohibitions ?	None
Prerequisites ?	12 credit points at 2000 level in Philosophy or Economics or Economic Policy
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Brian Hedden, brian.hedden@sydney.edu.au

Type	Description	Weight	Due	Length
Online task	Participation Regular online participation	10%	Ongoing	ongoing
Outcomes assessed:
Assignment	Independent Research Essay on topic from first half of course	30%	Week 07 Due date: 10 Apr 2020 at 23:00	2000 words
Outcomes assessed:
Assignment	Revision exercise Revise essay in light of feedback from tutor and peer review	20%	Week 11 Due date: 11 May 2020 at 23:00	500 words
Outcomes assessed:
Assignment	Final essay on topic from second half of course	40%	Week 14 (STUVAC) Due date: 05 Jun 2020 at 23:00	2000 words
Outcomes assessed:

Assessment summary

Essays are to be submitted via Turnitin and submitted with only SID (not full name) for blind marking.

Assessment criteria

Result Name

Mark Range

Description

85-100

Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

75-84

Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

65-74

Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

50-64

Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

0-49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

5 points off per calendar day late. (NOT business days late - weekends count)

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 01	Individual Rationality and the Common Good	Lecture (2 hr)
Week 02	Individual Rationality and the Common Good, continued	Lecture and tutorial (3 hr)
Week 03	Darwinian Economics	Lecture and tutorial (3 hr)
Week 04	Collective Action Problems	Lecture and tutorial (3 hr)
Week 05	Private Property	Lecture and tutorial (3 hr)
Week 06	Theories of Well-Being	Lecture and tutorial (3 hr)
Week 07	Interpersonal Comparisons of Utility	Lecture and tutorial (3 hr)
Week 08	Equality, part 1	Lecture and tutorial (3 hr)
Week 09	Equality, part 2	Lecture and tutorial (3 hr)
Week 10	Discounting	Lecture and tutorial (3 hr)
Week 11	Commodification	Lecture and tutorial (3 hr)
Week 12	Workplace Freedom	Lecture and tutorial (3 hr)
Week 13	Nudge	Lecture and tutorial (3 hr)

Attendance and class requirements

Attendance and participation are mandatory and assessed in the Participation component of the mark (10%).

In accordance with university guidelines, failure to attend at least 50% of both lectures and tutorials may result in the student receiving a mark of Fail for the unit.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Week 1: Individual Rationality and the Common Good

Debra Satz. 2012. Why Some Things Shouldn’t be for Sale. Oxford University Press. Chapter 1

Optional:

Adam Smith, The Wealth of Nations, Book 1, Chapter 7

Week 2: Individual Rationality and the Common Good

Garrett Hardin. 1968. “The Tragedy of the Commons,” Science 162(3859): 1243-8.

Martin Peterson. 2015. The Prisoner’s Dilemma. Cambridge University Press. pp 1-9.

Week 3: Darwinian Economics

Robert Frank. 2011. The Darwin Economy. Princeton University Press. Chapter 2

Optional: The Darwin Economy, Chapter 3

Week 4: Collective Action

Julia Nefsky. 2019. “Collective Harm and the Inefficacy Problem.” Philosophy Compass 14(4).

Optional:

Brian Hedden. 2020. “Consequentialism and Collective Action.” forthcoming in Ethics.

Steven McMullen and Matthew Halteman. 2019. “Against Inefficacy Objections: The Real Economic Impact of Individual Consumer Choices on Animal Agriculture.” Food Ethics 2(2-3): 93-110.

Week 5: Private Property

E.J. Lowe. 2012. Locke. Routledge. pp. 179-88.

Optional: Jeremy Waldron. 1983. “Two Worries about Mixing One’s Labour.” Philosophical Quarterly 33(130): 37-44.

Week 6: Theories of Well-Being

Martha Nussbaum. 2000. “Women’s Capabilities and Social Justice.” Journal of Human Development 1(2): 219-47. (only up to p. 236; stop at section “Capabilities and Care”)

Optional: Derek Parfit. 1984. Reasons and Persons. Oxford: Oxford University Press. Appendix I: “What Makes Someone’s Life go Best?”

Week 7: Interpersonal Comparisons of Utility

Daniel Hausman. 1995. “The Impossibility of Interpersonal Utility Comparisons.” Mind 104(415): 473-90.

Week 8: Equality, Part 1

Robert Nozick. 1974. Anarchy, State, and Utopia. Basic Books. Chapter 7, Section 1.

Optional:

Amartya Sen. 1979. “Equality of What?” Tanner Lectures. https://tannerlectures.utah.edu/_documents/a-to-z/s/sen80.pdf

Week 9: Equality, Part 2

Elizabeth Anderson. 1999. “What is the Point of Equality?” Ethics 109(2): 287-337. Only read up to p. 320.

Optional: “The Philosopher Redefining Equality” https://www.newyorker.com/magazine/2019/01/07/the-philosopher-redefining-equality?verso=true

Week 10: Discounting

John Broome. 2012. Climate Matters. WW Norton & Co. Chapter 8.

Week 11: Commodification

Debra Satz. 2008. “The Moral Limits of Markets: The Case of Human Kidneys.” Proceedings of the Aristotelian Society 108(1): 269-88.

Optional:

Elizabeth Anderson. 1990. “Is Women’s Labor a Commodity?” Philosophy and Public Affairs 19(1): 71-92.

Week 12: Workplace Freedom

Elizabeth Anderson. 2019. Private Government. Princeton University Press. Chapter 2.

Optional:

Econtalk podcast with Anderson: https://www.econtalk.org/elizabeth-anderson-on-worker-rights-and-private-government/

Week 13: Nudge

Richard Thaler and Cass Sunstein. 2009. Nudge. Penguin Books. Introduction

Gary Becker and Richard Posner. 2010. Uncommon Sense. University of Chicago Press. pp. 147-52.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. Understand and analyse how individuals' pursuit of their self-interest relates to the promotion of the common good
LO2. Critically evaluate the goals of economic policy
LO3. Evaluate what goods and services should be allocated by means of market mechanisms
LO4. Critically evaluate and contribute to contemporary debates concerning climate change, inequality, taxation, and so forth.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Substantial changes have been made to unit readings, in particular more topics relating to ethics and economics. The assessment structure has also been changed to reflect the fact that the unit is now at 3xxx-level.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

PHIL3611: Philosophy of Economics

Semester 1, 2020 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect