Conventional theories are presented and explored by our first-year students in the Bachelor of Business Administration macro-economics class. However, a substantial aspect of it considers alternative approaches to macro-economy.
The crowning of this wide-ranging approach took place during the last class of the semester, in which a global conference on sustainable development, along the lines of the United Nations Rio +20 conference, was simulated. Country representatives met in different task forces to demonstrate critical thinking and generate new ideas for solving the world’s economic challenges. Here is the inspiring outcome of their hard work.
The countries participating in the morning conference simulation were Switzerland, the Netherlands and the USA. The task forces on special topics, made up of country representatives, agreed on the following proposals:
- Foreign Aid to reach the amount of 0.7% of GDP as proposed by the United Nations, achieved by raising the corporate income tax and re-allocating the public spending budget. Focus on food security in sub-Saharan Africa, including programs to educate farmers, because poor post-harvest handling and storage loss leads to a 10% loss of production.
- Knowledge Transfer between MIT (USA), EPFL (CH) and Delft (NL), three science-based universities interested in innovative solutions to real-life problems. All knowledge shared will be protected by an agreement regarding Intellectual Property Rights, and the Erasmus program will be used as the framework for the exchange. In another program, knowledge could be shared on modern public transportation (from NL), space travel (from NASA in the USA) and nuclear research (from CERN in CH).
- Climate Change to be firstly managed by increasing the use of renewable energy in the three countries mentioned above for transportation – Swiss Solar Impulse will work with Boeing (USA) and Fokker (NL) on solar-powered airplanes, and trains/buses will be promoted in the countries; secondly, by the introduction of Carbon Capture and Storage technology, developed in CH to collect CO2 emissions before they are released into the air and to re-use the stored CO2. In addition, society will be made climate-proof by being prepared for the harmful effects of climate change, e.g. flood protection.
The countries participating in the afternoon conference simulation were Chad, France and Canada. The task forces agreed on the following proposals:
- Foreign Aid to achieve four objectives: firstly, Canada and France to channel more humanitarian aid to Chad to help feed and house the 300,000 refugees from Sudan, as well as to fight the outbreak of hepatitis E in the country. Secondly, ease visa requirements from Chad to France and Canada in order to improve work opportunities for Chadian workers – the three countries share the French language. Thirdly, France to build training bases for the Foreign Legion in Chad, which will create jobs and provide excellent training conditions for the Foreign Legion. Lastly, Chad to receive military support from France – a military school – and Canada – military equipment – in order to improve security in the region where there are numerous conflicts.
- Knowledge Transfer to firstly raise the literacy rate in Chad from 40% today to 80% by 2030, with a program to recruit, prepare and retain teachers led by France and Canada; at the moment there are only 2 teachers per 1000 residents. Secondly, to extend the current exchange program for University of Chad students and French universities, running since 1971, to include Canadian universities. Thirdly, to install 100 MW of solar energy production by 2030 in addition to the 60 MW planned for 2020, because a good return on investment can be anticipated.
- Climate Change agrees three objectives to deal with the serious desertification in the country and the drying up of Lake Chad, which some estimates claim has lost 95% of its water, all of which has raised tensions between the three countries making use of water from it. Firstly, to reverse the desertification, plant two million trees in addition to the 1.5 million planted by the UNHCR and use the French charity Friends of the Earth to clear away the silt in water channels. Secondly, use the Canadian charity Wateraid to improve access to clean drinking water and reduce waterborne diseases. Thirdly, to use the French charity Action Against Hunger to improve irrigation systems in the area.
The objectives and policies are marked by being linked to specific and concrete facts about the countries as well as to existing organizations and programs. Thus, the results of the simulation present an inspiring vision of what could be done for our collective future, while being practicable and realistic.