Economics / Political Economy for Unionists

Who is it for?
Organisers and other union officials who want to understand more about economics from a union perspective. The economic crisis has increased union members’ interest in how the economy works. This course will assist discussions with members and participation in union policy debates, inform involvement in bargaining and assist in analysis of relevant industries and corporations. It also forms a good basis for the Introduction to Strategic Industry and Corporate Research course.

Aims
To explain economics by introducing basic economic ideas and different economic approaches to key economic policies in plain language, and apply them in case studies  that are relevant to unions, including the global economic crisis.

Learning outcomes
At the end of this module participants will be able to:

• Discuss the purpose of economic policy and how it can contribute to union values and goals of social justice, equity and environmental sustainability.
• Describe some impacts of different economic policies ( e.g., wages policy,  inflation, interest rates, government tax and spending polices ) on union members’ lives.
• Describe how markets work and fail, and the conditions needed for them to work effectively.
• Explain how labour markets differ from other markets and why they need specific regulation.
• Discuss different economic approaches or theories and discuss a union perspective on policies in areas like labour market regulation, distribution of income and managing climate change.
• Describe the economic cycle of growth and decline, and debates about the role of governments in managing that cycle.
• Discuss the current financial and economic crisis, different economic explanations for it, and threats and opportunities  it presents for union members.
• Discuss the role of global inequality, global corporations, global production systems, outsourcing of jobs, temporary migrant labour, and their impacts on unions
• Discuss the role of global economic institutions like the International Monetary Fund, the World Bank and the World Trade Organisation in regulating the global economy, their impacts in Australia and developing countries and union policies and campaigns about them.
• Discuss basic approaches to strategic industry and corporate research, and apply them in case studies.