Thomas Lagoarde-Segot, a teacher and researcher at Kedge Business School in France, was instrumental in launching an ecological macroeconomics course in 2019. That followed years in which he focused on the importance of looking at climate and sustainability issues from a macro perspective, rather than business schools’ usual emphasis on the micro impact on companies and individuals.

Partly based on a textbook featuring the contributions of 25 academics, the course revisits concepts of finance and monetary policy from a sustainability perspective. This enables a critical examination of economic and financial factors, such as money, growth and markets, in the context of ecological challenges, and helps prevent greenwashing — a critical need in today’s sustainability-conscious environment, says Lagoarde-Segot. Endorsed by notable figures such US academic and author Professor Jeffrey Sachs, the course offers a comprehensive perspective on economics and finance. It equips students with the intellectual tools to understand the complex and interrelated issues of sustainability, economics and finance.

Endorsed by notable figures such US academic and author Professor Jeffrey Sachs, the course offers a comprehensive perspective on economics and finance. It equips students with the intellectual tools to understand the complex and interrelated issues of sustainability, economics and finance.

The course is divided into two parts. The first one addresses topics such as credit, money and interest rates through the lens of sustainability — for example, by interpreting money circulation using the laws of thermodynamics. The second part looks at more micro issues, such as crowdfunding and corporate governance.

“We wanted to create a sustainable economics and finance curriculum,” says Lagoarde-Segot. “We had to innovate and provide new content. To do that, we had to rely on the pluralism of the various schools of economics thinking.”

More information about : Ecological Money and Finance. Exploring Sustainable Monetary and Financial Systems