Linear to circular economy

We are always trying to inform students more about the real economy rather than just textbook theory. One area that we are focusing on is the circular economy.

Traditionally the economy has been linear in that it takes resources from the earth, makes products, uses them, and then disposes of the waste in landfills. As resources are finite this model degrades Earth’s systems two ways: through the excessive use and loss of priceless energy and matter, and by poisoning the conditions for life. A regenerative economics online course has been developed that tackles the issue that our economies cannot grow in size forever. If we take too much from nature, and provide too little in return, we will destroy the ecosystems that we depend on to survive and thrive. Human beings are part of Earth’s complex ecosystems and we must work to sustain them. The course is well worth a look.

Below is a video from CNBC looking at the circular economy. As well as redesigning entire value chains and business models, companies that want to get behind the circular economy will have to foster a collaborative ecosystem to trace resources effectively. Cultural change will be as crucial as technical innovation – but customers, regulators and investors are already on board.

Sign up to elearneconomics for comprehensive key notes with coloured illustrations, flash cards, written answers and multiple-choice tests on the circular economy that provides for users with different learning styles working at their own pace (anywhere at any time).