Week 10-11 Economics: Abundance & Scarcity
Block One
Session Theme: Observing abundance and scarcity
Learning Goals:
Participants will critically explore their mindset on abundance and scarcity through their relationship with money
Meditative Questions:
How would you describe your relationship with money in one word?
Do you have any limiting beliefs about how much money you can accumulate? If so, what are they?
Would you like to repeat your parent’s relationship with money? Why or why not?
Block Two
Theme: We will engage in a discussion on the macro and micro influences on the economy and how to
better understand the financial system to encourage better decision-making and preparedness.
Learning goals:
Participants will be able to clearly understand what money is, how it is created and how it is exchanged on a day-to-day basis
Participants will engage in discussion on the characteristics of a capitalist and neoliberalist financial system
Participants will understand the various ways to earn an income and how the method of income accumulation ultimately impacts how it is taxed.
Participants will have a clear understanding of the current climate of the economy and essential strategies to achieve their next financial goal(s)
Major Takeaway
Though we may be experiencing a phase of heightened uncertainty in the financial system, the shift from one system to another ultimately allows us to truly define how we want to create value and make an impact in our world.
Ultimately, money is an exchange of value, and reducing it to a physical number often does us more of a disservice than we think.
Understanding money objectively while understanding our subjective desires for money can help us create goals and choose career paths more aligned with our actual values, thus, manifesting what we feel we deserve.
Key Words
What is Money?
A medium of VALUE exchange in the form of coins, banknotes and digital versions of banknotes/coins.
Also, Money is a commodity accepted by general consent as a medium of economic exchange.
Capitalism is defined as an economic and political system in which a country's trade and industry are controlled by private owners for profit rather than by the state (Google Definition)
Capitalism: an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property, property rights recognition, voluntary exchange, and wage
labour. (Wikipedia)
Neoliberalism: a political approach favouring free-market capitalism, deregulation, and reduction in government spending. (Google)
“Neoliberalism” is now generally thought to label the philosophical view that a society’s political and economic institutions should be robustly liberal and capitalist but supplemented by a constitutionally limited democracy and a modest welfare state (Stanford Encyclopedia)
