Back to Introduction to Economic Theories
Erasmus University Rotterdam

Introduction to Economic Theories

Wondering why economists have not predicted serious financial crises? Shocked by economic assumptions of human behavior as self-centered and focusing only on what can be measured? Asking yourself if there are no sensible economic alternatives to free markets? Then you are at the right place to learn economics! This is the first online course that teaches economics from a pluralist perspective. Economic pluralism means that a plurality of theoretical and methodological viewpoints is regarded as valuable in itself and is simply the best way in which economics can make progress in understanding the world. This MOOC will illustrate economic pluralism not only in substance but also in form. You will see not only me, a Professor of Economics, but also a pop-up Prof of our business school, who illustrates the actor perspective of firms, government and civil society. And you will meet an online student, based in Greece, who will help you through the tutorial videos in which I will explain key concepts, tools and techniques. I will not limit myself to the dominant theory, as almost every other course does. Instead, I will introduce you to four very different economic theories for the whole set of standard topics in microeconomics and macroeconomics. The theories are presented every time from broad and more interdisciplinary to narrow and more mathematical. The four theories that I like to introduce you to are Social Economics, Institutional Economics, Post Keynesian economics and, at the very end of each topic, Neoclassical Economics, for the special case of ideally functioning markets. But not everything is different in this course. Like every economics course, it includes numbers, diagrams, tables, equations, and some calculations. Why would you go through the effort of learning the basics of four theories instead of one? Because it will help you to see why many economists cannot predict crises, whereas others can see signals but are often not being listened to because they do not belong to the dominant school of thought. It will also enable you to see that it is just one theory claiming economic agents to be self-centered and focusing on the measurable only. Other economic theories go well beyond these limitations. And, finally, the pluralist approach will provide you with policy alternatives to neoliberalist policies promoting free markets. The objective of this course is twofold. First, to enable you to understand different economic viewpoints, linked to important traditions in economic thought, and basic economic concepts belonging to these theoretical perspectives. Second, to enable you to do some basic economic calculations that are important in economic life, such as calculating an inflation rate, and in economic policies, such as estimating the rough gains from trade for both trading partners, and in economic arguments, such as in calculating utility maximization with given prices and budgets. Please note that if you do all course elements, total course load is likely to be 4 ECT (approx. 134 hours). I hope you will enjoy the course!

Status: Economics, Policy, and Social Studies
Status: Market Analysis
BeginnerCourse41 hours

Featured reviews

AV

5.0Reviewed May 6, 2018

Wonderfully compiled course. I had no interest in economics prior to this, and now I am quite happy I did this.

VS

5.0Reviewed Dec 30, 2018

A very simple way of teaching here, with all relevant examples, clarity of communication and diagrams, graphs, made this easy to understand conceptually.

BS

5.0Reviewed Jul 7, 2022

Very good course and really enjoyed learning it from Professors.

PG

5.0Reviewed Aug 31, 2018

Excellent module... Lots of insights... Without much economics background,this course has enlightened me for further research in various topics ..very good facilitators..

JT

5.0Reviewed Sep 27, 2020

Lessons are simple enough to follow but may require some extra reading to fully understand some concepts, but overall it's a good introduction to economics.

YS

5.0Reviewed May 4, 2020

I enjoyed learning this course!! Thank you professor and also pop-up professor!!

AK

5.0Reviewed Dec 14, 2019

It was a great learning experience . Course materials and tutorials were easy to follow. Thank you

SM

5.0Reviewed Jun 29, 2022

The curriculum of the course and the methodology of delivery is excellent.The presenters are also very professional and knowledgeable

DP

5.0Reviewed Oct 17, 2021

This was a fantastic course explaining the 4 major different economic theories. The professors and assistant were great in explaining the information in this course and providing excellent examples.

MA

4.0Reviewed Feb 25, 2025

A really informative and professional course, which gives a sufficient introduction on all major topics of several key theories.

SK

4.0Reviewed Sep 29, 2020

its very interesting course and the prof's are very well explained each and every topic with few examples clean and clearly.....

HB

5.0Reviewed Jan 24, 2018

Excellent course on Theories on economics which has given un the insight of economics via various theory. Really useful to understand many financial aspects / issues on different prospective

All reviews

Showing: 20 of 93

alberto allegrucci
1.0
Reviewed Jan 8, 2018
James Tan
5.0
Reviewed Sep 27, 2020
PRATIK GHOSH
5.0
Reviewed Aug 31, 2018
Shiang Ying Chan
2.0
Reviewed Feb 17, 2022
Sophia Osborn
3.0
Reviewed Feb 28, 2021
Christopher Robert Rainger
1.0
Reviewed Aug 29, 2020
HEMENDRA SINGH BISHT
5.0
Reviewed Jan 25, 2018
Amit Vats
5.0
Reviewed May 7, 2018
Alejo Ares
3.0
Reviewed Apr 19, 2020
William Arnold Gibson
1.0
Reviewed Apr 14, 2020
BRIAN KILGANNON CPCU, CLCS, ARe, ASLI, API, AIS, AU, AINS
5.0
Reviewed Jun 20, 2021
Sahibzada Arshad
5.0
Reviewed Jan 13, 2019
Hugo Espinosa Vela
5.0
Reviewed Aug 3, 2020
Amanda Gan
4.0
Reviewed Jun 7, 2020
Shantanu Anish Hebbar
5.0
Reviewed Aug 2, 2019
Alexey Kopein
5.0
Reviewed Aug 16, 2017
David Palagi
5.0
Reviewed Oct 18, 2021
Bohaienko Mariia
5.0
Reviewed May 19, 2022
Vinayak Raman Sharma
5.0
Reviewed Dec 31, 2018
Emil Trading
5.0
Reviewed Jan 6, 2026