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Exploring Economics: Will the Next Generation Be Worse Off?

Will the next generation be better or worse off than their parents? Look at both sides of the debate and decide for yourself.

2,842 enrolled on this course

Exploring Economics: Will the Next Generation Be Worse Off?
  • Duration3 weeks
  • Weekly study3 hours

Explore the economic outlook for the next generation and how to improve it.

The next generation faces uncertain economic prospects. This online course explains why.

You’ll get an introduction to the global economy, how it experiences spikes and dips in economic growth and how this affects prosperity worldwide.

We will look at reasons to be optimistic and reasons to be pessimistic. We will discuss to what extent the next generation can expect to be better or worse off than the current generation.

You’ll get to share your views on what’s more likely and hear how prominent economists and other scholars can have different views on this question.

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Skip to 0 minutes and 6 seconds Do you think we are secure in our economic future? Have you ever considered that the next generation might be worse off?

Skip to 0 minutes and 17 seconds The next generation will face some considerable economic challenges. Over the past 300 years, three industrial revolutions have secured a steady pace of economic expansion. However, we might be now approaching the end of this era of economic growth. I believe that we are in need of a fourth industrial revolution. Without this the world is likely to go back to a long period of economic stagnation. I hold an optimistic view of our economic future. My key message is this, “don’t feel sorry for the next generation.” There are good reasons to expect society to be much better off in 30 years than it is today.

Skip to 1 minute and 1 second The problems people identify sound scary, but such problems have been overcome in the past and I believe they will be overcome in the future. What do you think? Are you optimistic or pessimistic about our economic future? Join the course to explore this question and find out.

What topics will you cover?

  • Reality check: why the next generation is likely to be worse off
  • What might lie ahead: an unequal society incapable of innovation
  • Why the market will not save us and the need for government intervention
  • A history of government failures: learning from past mistakes
  • Rethinking economic growth and economic policy
  • A new approach to promote growth and support socioeconomic transformation

What will you achieve?

By the end of the course, you‘ll be able to...

  • Explore the economic prospects of the next generation in a global context with emphasis on Australia and industrial countries.
  • Explain the rationale for government intervention in dealing with inequality and the criteria for the success/failure of this intervention.
  • Discuss economic policy options that would promote prosperity and well-being for the next generation.

Who is the course for?

This course is aimed at anyone with an interest in economics. It will be of particular interest to those who are concerned about the future of the global economy, and what we can do to improve it for the next generation.

Who will you learn with?

I am a Professor of Economics and Dean (Academic) in the Griffith Business School at Griffith University. I am interested in macroeconomic policy, economic development and growth and inequality.

I am an Economics Professor and the Dean of Learning and Teaching in the Griffith University Business school. My current research is on the economics of population ageing in Australia and abroad.

Who developed the course?

Griffith University

Griffith University was created to be a different kind of university—challenging conventions, responding to trends and pioneering solutions through innovative teaching and research.