Economics & Theology:

Complementary Perspectives?

Events in the closing decades of the twentieth century - most notably the demise of communism - have provided a boost to free market liberalism (i.e. economic rationalism).  It has become -along with democracy and sexual freedom - the ideology of choice for the masses.

This subject provides a Christian critique of free market liberalism.  It generates a set of modified socio-economic principles, and applies them to immigration, gift-giving, family permanence, faith‑based welfare and globalization.  Free market liberalism's impact on personal identity is discussed by comparing ‘economic man' to a Christian anthropology.  We explore whether free market liberalism, sexual freedom and democracy promote, or fail to promote, other‑centred (i.e. altruistic or agape) love in contemporary Western society. 

When & Where Offered

Semester 1 2008
Thursdays 5-8pm
Macquarie University Campus

Lecturer

Dr Gordon Menzies, DPhil Oxford, MEc ANU

Gordon is a Senior Lecturer in Economics, UTS; Centre for Applied Macroeconomic Analysis, ANU; and Deputy Director for the Paul Woolley Centre for Capital Market Dysfunctionality, UTS.

Unit Code & Details

IN434 (MCSI360) Economis & Theology Complementary Perspectives
This unit is equivalent to a standard semester unit at advanced level.  For example it is worth:
3 credit points at 200* level towards Maccquarie University undergraduate degrees
4 credit points at 400 level towards Australian College of Theology undergraduate degrees.

For advice on how to credit this subject to other institutions please contact our advisor.

*Note: from January 2008 MCSI units are no longer able to be credited at 300 level towards Macquarie Degree programs.  Students enrolling in this unit will receive 3 credit points at 200 level.

Prerequisites: the equivalent of 18 months (3 semesters) full time study (12 subjects) of university level study should be completed before enrolling in this subject.  At least one previously completed subject in Economics. (Students not meeting this prerequisite can request permission from MCSI Dean to enrol) 

Unit Content /Lecture Topics

      1.         Christianity and Economics: biblical foundations.

      2.         Christianity and Economics: theological ethics.

      3.         Economic Analysis: methods and values.

      4.         Case Studies: immigration, gift-giving, family permanence, faith‑based

                  welfare and globalization.

      5.         ‘Economic Man' and biblical anthropology.

      6.         The status of altruism in contemporary Western society: free market

                  liberalism, sexual freedom and democracy.

Assessment

Each student is assigned an individual research project based on one of the case study areas i.e. immigration, gift-giving, family permanence, faith‑based welfare and globalization.  After conducting in-depth library research they will write a report based on wide reading in the areas of economic theory and Christian theology. 

2.         Reflective Essay (50%) (2000 words)

This essay requires students to express their understanding of the consonance and dissonance between economic and theological perspectives.      

3.         Contemporary Culture Notebook (20%) (20 pages)

Students will find examples within contemporary culture (eg. film, advertising art, web pages and music) that illustrate contemporary attitudes to love, and, the treatment of the powerless by the powerful.  They will write brief responses to each item and link them to the themes of this unit.

4.         Class Participation (10%)

Details of Presentation

This unit is offered in standard format of 3 hours class contact per week over 13 weeks.

Teaching will include lectures, presentations, student-led case studies, tutorials, reading and reflection exercises.

Textbooks & Reading

Required Texts:

Hay, Donald (2004), Economics Today: a Christian Critique, Regent College Publishing, ISBN 9781573832847

Additional Reading:  

Becker Gary S.(1981), A Treatise on the Family, Harvard: Harvard University Press.

Biggar, N. and D. Hay (1994), ‘The Bible, Christian Ethics and the Provision of Social Security', Studies in Christian Ethics, 7(2), pp. 43-95

Birkett, Kirsten (2000), The Essence of Feminism, Matthias media.

Borjas, G. J. (1995), ‘The Economic Benefits of Immigration', Journal of Economic Perspectives' 9(2) Spring.

Dahl Robert (1989), Democracy and its Critics, NetLibrary Incorporated, ISBN 0585357277.

Folbre, Nancy and Julie A. Nelson, (2000) For Love or Money -- Or Both?

The Journal of Economic Perspectives, 14(4) (Autumn), pp. 123-140.

Frey B.and F.Oberholzer-Gee (1997), ‘The cost of price incentives: an empirical analysis of motivation crowding out', American Economic Review, 87(4), 746-755

Menzies G.and D.Hay (2007), ‘Economics and the Marriage Wars', Faith and Economics, forthcoming.

Menzies G. (2008), ‘Economics as Identity' forthcoming in S. Gregg and I Harper Christian Morality and Market Economics: theological and philosophical perspectives, Edward Elgar.  Copy available from author (with permission from editors).

Oslington, Paul (2002), ‘Economic and Theological Issues in the Contracting out of Welfare and Labour Market Services' in The Church and the Free Market edited by B. Howe. Melbourne, Australian Theological Forum for the Victorian Council of Churches, or, Australian Theological Forum for the Victorian Council of Churches.

Stott, J. (2006), ‘New Issues Facing Christians Today', Zondervan. ISBN 0310252695.

Wolterstorff, N. (1987), ‘The Bible and Economics: The Hermeneutical Issues', Transformation 4(3-4), pp. 11-19.