Business Administration. From Barter to Bitcoin and Beyond: Re-imagining Money for a Sustainable Future

First Cycle Course. 7.5 credits

Learning outcomes

Growing inequality, apocalyptic environmental damage, and the protracted effects of a global financial crisis have resulted in a discussion on the role of our monetary system for the organization of society. At the same time, new technological and financial developments are giving rise to much experimentation on new forms of money. This course looks at various attempts to “re-imagine money.” It explores opportunities for addressing big societal challenges and asks in particular how new forms of money can contribute to developing more just and equal societies. A passing grade on the course will be awarded to students who:

 

1. Knowledge and understanding

– Demonstrate an understanding of how our national and international monetary systems work.

– Demonstrate an ability to identify relevant research topics within the are of international strategic management of trade and monetary exchange.

2. Competence and skills

– Demonstrate an ability to integrate knowledge on international management, monetary theory, and digital technologies to analyse, assess and deal with issues related to various forms of local, national and international monies.

– Demonstrate an ability to independently identify a social / environmental challenge and formulate a design for a monetary system addressing that challenge,

– Demonstrate an ability to assess the potentials and limitations of particular monetary system and clearly present arguments of its strengths and weaknesses.

– Demonstrate an understanding of the future challenges and main issues related to international strategic management of glocal monetary systems.

3. Judgement and approach

– Demonstrate an ability to assess the boundaries of the current monetary system and discuss the opportunities and limitations for change agents to impact it.

– Demonstrate an ability to identify their need of further knowledge concerning monetary systems and technologies and to take responsibility for developing their knowledge.

Course content

Imagine you have the possibility to re-imagine our monetary system: Where would you start? How would you build it on the new monetary technologies? How would you work to make it more conducive to just and equal societies? The global financial crisis of 2008 marked the beginning of an intense discussion on the consequences of our monetary system on the organization of our societies. The concentration of wealth in “the one percent” in parallel to austerity policies, the increase of prices of financial assets parallel to a retrenchment of the welfare state have resulted in a generalised realisation that the monetary system has not been serving the interests of the population as a whole. The discussion on the organization of our monetary system is however as much driven by frustration towards the financial system as it is by excitement about new monetary developments. New payment systems (such as Swish or Apple Pay), the decline of cash, the emergence of digital currencies (such as Bitcoin and Ethereum) as well as local currencies (such as Time Dollars, Regiogeld or Transition Town currencies) and the development of new financial practices (such as P2P lending, crowdfunding or ICOs) are opening up our thinking on money and our possibilities to re-imagine, re-organize and re-claim money. That is, the changing nature of money is giving rise to a wave of experimentation on new forms of money. These experiments see money not as an obstruction but as a vehicle for constructing more sustainable economies, more resilient communities and more fair societies. While these new monetary ideas and real-life efforts may seem contradictory, money scholars, practitioners and activists agree that money needs to be re-organized, that this can be done from the bottom-up, and that we can indeed imaginatively engage with the future of money. This course is addressed to students who want to explore the idea that money can be re-designed. Students will be exposed to the theoretical and practical realities that come with “re-imagining money”. The course does not require previous knowledge in neither finance nor economics or technology. It however does ask students to be open to actively engage in re-thinking the monetary landscape. We will do this through a monetary workshop at the end of the course, in which student groups will be designing a monetary system for a particular social purpose.

Course design

The course combines a variety of methods, ranging from traditional lectures, case studies, interaction-based pedagogy, reading groups, student debates, group work, and money co-creation workshops. Students are expected to participate actively in class.

Assessment

Examination in this course is a two-step process:

– Mid-course written exam; max. 2 pages. In a short written essay, students will be asked to describe an aspect of the current monetary system.

– Final written take-home assignment; max. 5 pages. Students will be asked to design a monetary system to address a particular social / environmental challenge. In a written essay, students will be asked to present the monetary system they have designed and discuss its potential and limitations. This exam needs to engage the literature discussed throughout the course. The examiner, in consultation with Disability Support Services, may deviate from the regular form of examination in order to provide a permanently disabled student with a form of examination equivalent to that of a student without a disability. Sub-courses that are part of this course can be found in an appendix at the end of this document.

Entry requirements

Entry requirements for this course are that the student has taken courses in Business Administration corresponding to 30 credits.

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Subcourses in FEKG95, Business Administration: From Barter to Bitcoin and Beyond: Re-imagining Money for a Sustainable Future.

2001 Our present monetary system – Written exam, 2,0 hp Grading scale: Fail, Pass

2002 Designing a monetary system – Take home assignment, 5,5 hp Grading scale: Fail, Pass

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Source: https://www.lunduniversity.lu.se/lubas/i-uoh-lu-FEKG95#description

Syllabus 

 

 

 

 

Digital Monies for a Sustainable Future

PHD COURSE (7.5 ECTS) AT LUND UNIVERSITY, AUTUMN 2020

Open for applications

Time: 1 September – 13 October 2020
Course code: EHFE016
Points: 7.5 ECTS
Level: PhD Program
Last day to apply: 14 August 2020
Location: The course is held mostly online by the School of Economics and Management, Lund, Sweden.

Course syllabus & literature (PDF, 141 kB)

Main category of the course

The course is taught under the Agenda 2030 Graduate School at Lund University, Sweden. It is the result of a collaboration between the School of Engineering and the School of Economics and Management.

Course coordinator 
Ester Barinaga (ester.barinaga@fek.lu.se), Dept. of Business Administration, LUSEM

Course Faculty 

• Ester Barinaga, Dept. of Business Administration, LUSEM
• Anders Ögren, Dept. of Economic History, LUSEM
• Paul Stankovski Wagner, Dept. for Electrical and Information Technology, Faculty of Engineering
• Christian Gehrmann, Dept. for Electrical and Information Technology, Faculty of Engineering

Course content

Growing inequality, apocalyptic environmental damage, and the protracted effects of a global financial crisis have resulted in a discussion on the role of our monetary system for the organization of society. At the same time, new technological and financial developments are giving rise to much experimentation on new forms of money. This interdisciplinary PhD course examines the technological developments that are facilitating monetary innovation and the role of monetary entrepreneurs in re-organising the production and circulation of money. The course provides students with the tools to explore opportunities for addressing big societal challenges and asks in particular how new forms of money can contribute to developing more just and equal societies. To understand these new digital monies, the course uses theories from the subfields of organisation studies, innovation and entrepreneurship, and STS (science and technology studies).

Course design

The course is structured in 3 modules as follows:

1. Setting the Stage (online)

The purpose of this module is to provide the student with an introduction to the discourse on the role digital monies can play in organising a sustainable future. The key points of focus will be: an overview of contemporary money; and the digital technologies that are enabling the re-imagination of currency. This module is in two sessions:

1.1. Money, its production and management today – Where does money come from? And how is it organised? Although we use money everyday, few stop to wonder where the money they use comes from and how it is managed. And yet, the traits of the creation and management process shape the form of our economies and societies. In this session, we will learn the process through which today’s money is created and managed today. In this doing, we will look at how our ideas on money are shaped by monetary theories that may have little to do with the actual management of money and monetary systems.

1.2. Crypto-technology – Today’s discussion on money is as much driven by a frustration with the current financial system as it is by excitement about new technological developments. Among others, much hope is placed on blockchain technology and the cryptocurrencies that use it. In this session we will discuss the technology behind digital and cryptocurrencies, the principles that guide the development of these novel technologies and the ideals that stimulate organisational innovation for the management of these currencies. What are the possibilities they open? And what are their limitations for efforts to re-organize our economy?
2. Monetary innovations past and present (online)

This module looks at past and present efforts to change the monetary system (both their production and management). Some of the key questions that will be discussed are: How are past monetary ideas being adapted into today’s tech and monetary innovations? And how do they contribute (or not) to create more resilient communities, more equal societies, and a more sustainable environment? We will discuss such questions in four sessions, each focusing on one particular type of monetary organisation:

2.1. Sovereign Money: Banque Générale (John Law) & Central Bank Digital Currencies (CBDC)
2.2. Global cryptocurrencies: Bitcoin & FairCoin
2.3. Citizens Monies: Wörgl & Kenyan Community Cryptocurrencies
2.4. Corporate Monies

3. Money Co-Design Workshop (1,5 days physical offline workshop)

Imagine you have the possibility to re-imagine our monetary system: Where would you start? How would you build it on the new monetary technologies? How would you organise it to make it more conducive to just, equal and sustainable societies? This session puts that question to work in the design of a monetary system for a particular social challenge of your choice. We will work in groups
to apply the theories seen throughout the course to the co-design of a monetary system that you will be presenting in class.

Learning objectives

A passing grade will be given to students that:

Knowledge and understanding: 
•    Demonstrate an ability to use relevant theories to understand how our national and international monetary systems are organised and managed.
•    Demonstrate an ability to apply theories from various fields to understand how new digital technologies are contributing to re-organise the monetary system.

Competence and skills: 
•    Demonstrate an ability to integrate knowledge from business administration, engineering and innovation studies to analyse the organisational opportunities and challenges associated to various forms of monies.
•    Demonstrate an ability to assess the potentials and limitations both of particular monetary systems and of digital monetary technologies and clearly present conceptual arguments for their organisational strengths and weaknesses.

Judgement and approach: 
•    Demonstrate an ability to identify relevant research topics at the intersection between the fields of business administration, engineering and innovation studies.
•    Demonstrate an ability to critically discuss central issues in the organization of digital monies in an informed way and covey this knowledge to others interested in the topic.

Examination

Examination in this course includes several moments:

1. Mandatory participation in all course seminars. Students are expected to attend all seminars having read all texts relevant for each seminar, and actively take part in course discussions. Students who are unable to attend any seminar are required to contact the course co-ordinator with a view to undertaking a compensatory assignment.
2. Group work – Students will be grouped in interdisciplinary teams. Each group will be asked to design a monetary system for a particular sustainability challenge and present it for the rest of the class. In this presentation, student groups will be asked to use theories from the subfields of organisation studies, innovation and entrepreneurship, and STS seen in the course to argue for the particular monetary and organisational design. Their presentation will be the basis for class discussion in the course’s last session.
3. Individual written essay; max. length 3,500 words. After the course, students will be asked to choose one case of digital currencies and apply the business administration, engineering and grassroots innovation theories treated in the course to discuss how it re-thinks money.

The course in graded on a Pass or Fail basis.

Teaching methods

The course is designed as a blended course, that is with online and offline moments. It combines a variety of teaching methods, ranging from mini-lectures, webinars, case studies, reading groups, student debates, and group work. Students are expected to participate actively in class.

Course schedule

The online sessions will be given on September 1, 8, 15, 22, and 29, as well as October 6. The course ends with a one-and-a-half physical money co-design workshop on October 12 and 13.

Entry requirements and selection

The course is open to PhD students from all faculties. If the number of applicants exceeds the number of available places in the course, students from the Agenda 2030 Graduate School at Lund University, will be given priority.

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Source: https://entrepreneur.lu.se/en/courses-and-programmes/phd_courses/digital-monies-for-a-sustainable-future

The Hamburg Institute for Social Research is offering up to three scholarships for doctoral projects that seek to analyze empirical phenomena of monetary (dis-)orders with the aim of further developing debates on monetary theory. Proposals should focus on studying empirical phenomena that have not yet been considered by research or be dedicated to re-visiting previously explored issues and empirical evidence with new theoretical equipment. Of course, the ideas themselves can also become the subject of observation, provided that this is done with reference to monetary realities.

This call for proposals responds to developments in economic sociology, the history of capitalist cultures, political economy, and the anthropology of economic practices, in which modern economic forms are increasingly reflected upon as monetarized economies. All in all, these reflections are based on conceptual considerations on the question of what money actually is. For too long, perspectives on economic sociology, economic history, and political economics in particular have been marked by a neglect of theoretical considerations regarding money. Modern economies were commonly examined as market exchange economies, a theoretical framework that presupposes money as a functional condition, but is not specifically focused on modern economies as monetarized economies. Although empirically ubiquitous, in the research on processes of marketization and practices of market exchange, money itself has occupied a theoretically subordinate position. By placing empirical observations of money and its theoretical reflection at the center of capitalism research, however, it becomes possible to further develop alternatives to increasingly questionable, well-established conceptualizations of modern economies.

The scholarships will be awarded for innovative project ideas that deal with empirical cases to critically engage in these theoretical debates and seek to articulate independent positions. Proposals do not necessarily have to be premised on a preliminary decision as to whether money is to be addressed as a medium of exchange, as an “absolute” social means (of exchange), as credit—that is, a creditor-debtor relationship—, as a diverse collection of culturally shaped monetary practices, or in another, very different way. What is important is that the proposed research projects seek to make theoretical decisions on the basis of careful deliberation and scrupulous assessments that constitute significant and competitive contributions in the context of current debates. Under no circumstances should the following list of possible topics therefore be considered complete:

• How and why do alternative means of payment (such as local or crypto currencies) arise and how do multiple currencies and monetary orders coexist, what interactions or interferences arise between them, and what social effects do these contacts have?
• What role do monetary orders play in macroscopic developments of global inequalities?
• Are changes or structural continuities of monetary orders related to other socio-economic transformation processes such as digitalization?
• How has the functional, economic, or social significance of cash changed; how can we assess the current debate on the opportunities and risks of abolishing cash from a sociological and political-economic perspective? What is the relevance of cash as a field of business and as a growing global market for research on and theories of money?
• What significance do monetary hierarchies between currencies and between forms of money have for global power relations; how do these relations change as a result of transformations in the global economy and the economic rise of states and regions?
• What significance do monetary hierarchies and the shift of the privilege of money creation to private banks have for the economic dynamics and stability of financialized capitalism?
• What role do nation-states play for the creation and maintenance of monetary orders—in theory and in practice? How “monetarily sovereign” are modern states, that is, do they have the capacity to finance every expenditure, independent of their revenue?
• To what extent can reflection on the nature of money contribute to our understanding of the construction, development, and crisis of Europe’s supranational currency?
• Do financial and economic crises have dimensions relevant to a theory of money?
• What role does the value or purchasing power of money play for different theories, and what explanatory approaches do we have and need in order to record changes in monetary values and relations? Is there a need for a new, non-economic theory of inflation and if so, what would it be like?
• Do we need a theory-sensitive analysis of the history of ideas of money and monetary orders, because the existing ones are shaped by certain theories of money that may be questionable from today’s perspective?
• Which social conflicts that are linked to the design of monetary orders can be identified from a contemporary and historical perspective? To what extent is making such distinctions useful for furthering the analysis of economic change; that is, how sensitive must the history of capitalism be with regard to the significance of money?

The Hamburg Institute for Social Research has a tradition of focusing on the phenomenon of violence. Research projects that can bridge the gap between theoretical debates on violence and analyses of monetary (dis)orders are thus especially welcome.

The scholarships carry a monthly stipend of 1400 Euro. This is a base amount. Scholarship recipients will receive supplements for one or more children and may be eligible for further supplements. Detailed information can be found here. The scholarships will be awarded for two years with an option for an extension of up to two further years.

Scholarship-financed research projects at the Hamburg Institute for Social Research come with an additional budget for travel, books, and other research-related expenses that are appropriate to the requirements of the respective project. A workplace will be provided, and regular presence at the Institute is expected for the duration of the scholarship.

Applicants must have an above-average degree in sociology, history, cultural studies, political science, economics, or a related discipline.

Applications with cover letter, curriculum vitae, an academic work sample (master thesis, term paper), certificates and transcripts showing grades for all courses completed, and an outline of the proposed doctoral project or a collection of sketches of ideas (five pages maximum) must be submitted in a single PDF document by e-mail to monetary-orders(at)his-online.de. The closing date for applications is 18 November 2018. The earliest date for funding is 1 March 2019.

If you have any questions regarding the content of this call, please do not hesitate to contact us at the e-mail address provided.

Source: https://www.his-online.de/en/the-institute/working-at-his/vacant-positions/phdscholarships/

We are honored to announce that the first Community Currency Design Course is now available for free on the Grassroots Economics website. The quality of the course is surely granted by the extraordinary experience and knowledge of Dr. William O. Ruddick and his staff behind the Grassroots Economics organization. The course is divided into 5 modules, each one dedicated to a specific topic. Mainly addressed to practitioners, the goal is to understand how to set up and design a community currency project. [ 1 ]

Click here to start the MOOC

Background

On May 2010, Dr. William O. Ruddick introduced Eco-Pesa to three informal settlements inside Kongowea Location in Mombasa County, namely: Kisimu Ndogo, Shauri Yako, and Mnazi Mmoja. Later he founded Grassroots Economics Foundation and in 2013 developed the Bangla-Pesa model based on the results of Eco-Pesa, in the informal settlement of Bangladesh, Kenya.

Other currencies in Kenya that follow the Bangla-Pesa model include Gatina-Pesa in Kawangware, Kangemi-Pesa in Kangemi, Lindi-Pesa in Kibera, Ng’ombeni-Pesa in Mikindani. K’Mali in Kokstad South Africa, as well as Berg-Rand or BRAND in Bergrivier South Africa, also follow a similar model. [ 2 ]

All local currencies that emerged after the Eco-Pesa in Kenya (six in 2017) experience are now grouped under the label Sarafu-Credit, but they originally were issued under the supervision of an association named Koru Kenya, which does no longer exist. In 2017, six communities are currently using Sarafu-Credit in Kenya totaling over 1200 users. The system is the same in all of them, though each community uses its own version of Sarafu-Credit, giving it a unique name depending on the local toponyms, and managing it independently. [ 3 ]

About the author

Dr. William O. Ruddick is a development economist focusing on East Africa. After completing graduate school researching high energy physics as a collaboration member at the Stanford Linear Accelerator Center, he found his analysis skills and passion drawn to alternative economics and development. Since 2008 Will has lived in East Africa and managed several successful development programs in environment, food security and economic development. He is dedicated to connecting communities to their own abundance, and is an advocate for, and designer of, Complementary Currencies for poverty eradication and sustainable development. Dr. William O. Ruddick has pioneered Community Currency Programs in Kenya since 2010 and is the founder of the award-winning Bangla-Pesa program. He consults on Community Currencies worldwide and while researching with the University of Cape Town’s Environmental Economics Policy Research Unit. Dr. William O. Ruddick is also an associate scholar with the University of Cumbria’s Institute for Leadership and Sustainability. [ 4 ]

Sources

[ 1 ] https://www.grassrootseconomics.org/mooc

[ 2 ] https://en.wikipedia.org/wiki/Eco-Pesa

[ 3 ] https://en.wikipedia.org/wiki/Sarafu-Credit

[ 4 ] Dr. William O. Ruddick Linkedin Profile

 

IFLAS has been researching and teaching on local currencies, crypto currencies and blockchain since 2014 when our University became the first public University in the world to accept bitcoin. Since then we have always had Ph.D. students studying this area, taking a multidisciplinary approach, drawing upon social theory to explore the implications for the public of a multicurrency future.

We are now seeking new applications for Ph.D. research in this field, to start October 1st 2018. The opportunity is suited to people who work on this topic and could do a Ph.D. part-time over 4 or 5 years. They would work alongside a full-time Ph.D. student who works with the new Lake District Pound, and with Professor Jem Bendell as their supervisor. Most supervision is provided remotely, and so the number of visits to campus during the programme can be negotiated (the July 2019 summer school is obligatory).

There is no funding, but the fees for part-time students with UK or EU residency are very competitive (under 2000GBP a year).

If you already have a Masters degree and are interested, please write one page about your idea for your research and your motivation, and send it before May 10th to Professor Jem Bendell (email: jem(dot)cumbria(at)cumbria(dot)ac(dot)uk). If your idea is relevant, then you will hear within a week of initial contact and be invited to submit a formal application before the end of May to enable an October 1st start.

More information on our Institute is available at www.iflas.info

More information on our views on blockchain and crypto is here.

Our latest peer-reviewed paper on the topic, from Prof Bendell, is here.

Our international engagement on this topic is via Prof Bendell chairing the organizing committee of a UN event on blockchain. Information here.

Source: http://iflas.blogspot.it/2018/04/multidisciplinary-phd-in-currency.html

Fully funded full time PhD on local currencies in stunning Cumbria, supervised Prof. Jem Bendell. Closing date: midnight 18 February 2018.

The Lake District Pound (LD£) initiative is the context within which the research project will be carried out. This is an innovation in local currency that builds on the prior work and positive outcomes of other complimentary currency initiatives in the UK and globally. The LD£ will operate alongside sovereign Sterling currency with a more direct purpose to support the local rural economy.

This initiative will utilise a range of innovative methods to adapt and extend the idea of a ‘currency with a purpose’ to a rural context with a unique demographic including for the first time a National Park. A core aim of the initiative is to shift visitor spending from using large external businesses (e.g. online retailers and travel companies, remote delivery services, etc.) towards local companies and communities. The anticipated impact is to retain more wealth in the region to fund social and environmental projects and through the local focus and supply chains deliver measureable environmental benefits.
The LD£ initiative has a number of short and long-term aims, which will be greatly enabled through this research project. The aim of the research project is to provide a foundation and framework for measuring the success of the local currency initiative and from that measure, to identify optimum practice and future direction to improve such local currency initiatives.

The PhD research topic is the development of a framework for evaluation of the impact of the Lake District Pound and generation of data on that impact. This evaluation must include indicators of economic impacts, as well as social, cultural and environmental impacts. The evaluation needs to involve quantitative metrics, but can also include more qualitative assessments. It is a multidisciplinary study, with the candidate being able to draw upon a range of fields in consultation with the supervisor (for instance, potential insights from sociology, accounting, corporate sustainability, voluntary sector and organisation studies).

The PhD researcher will work with The Lakes Currency Project Ltd as well as conducting the research for the PhD – and will be based in the stunning Lake District National Park.

The Lakes Currency Project Ltd is the organisation behind the introduction and support of the ‘Lake District Pound’. It is incorporated as a private entity following the guidelines of a Community Interest Company to drive the LD£ initiative as a commercially sustainable project. The generation of revenue from the initiative will be directed in joint partnership with the Lake District Foundation to support vital sustainability projects in and around the National Park, and the Cumbria Community Foundation to support critical projects to help the poorer local communities. Their long-term aim is to develop an element of autonomy and economic resilience within the Lake District and surrounding communities in response to the continually increasing impact of global tourism that often serves to impoverish rural areas.

Benefits

Full-time PhD – annual tax-free stipend of £15,000 p.a. for 3 years
Tuition fees paid for by the industry sponsor (Home/EU fee)

The PhD is supported by the ERDF funded Eco-innovation Cumbria project led by the University of Cumbria.

Application process

To apply please visit the website for details of the entry requirements which must be met and to access the application form. Under the Research Proposal section of the form please summarise your approach to the proposed project outlined in this advert under the following headings: General Overview of Area, Identification of the Relevant Literature, Key Research Questions, Methodology, Timescale/Research Planning

Please include a covering letter telling us why you want to study for a PhD, what interests you about this project and highlight the skills and experience you will bring. Give the title of your research proposal as: “The Lake District Pound: Developing Local Sustainability through Economic Innovation in a Rural Context”

For any queries relating to admissions please contact Research Student Admissions rsa@cumbria.ac.uk

If you wish to find out more about the project in the first instance please contact: Ken Royall, Chief Executive, The Lakes Currency Project Ltd. ken@lakedistrictpound.com or Dr David Murphy, Institute for Leadership and Sustainability, University of Cumbria david.murphy@cumbria.ac.uk

Closing date: midnight 18 February 2018.

Interviews to be conducted 26th February 2018 in Ambleside, Cumbria. Candidates will be required to give a short presentation on their approach to the research proposal. Strong candidates may be given the option for an interview by video conference.

Source: Prof. Jem Bendell’s Website

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