Circular economy: Principles and solutions

We face increasing societal challenges arising from the triple planetary crisis - climate change, pollution, and biodiversity loss and other global trends, such as rising global tensions. To counter these developments, there is an emerging consensus among scholars, policy makers, businesses, and civil society that we need to transition to more sustainable and resilient economic systems. A key leverage point for this transition is the concept of a circular economy.

The circular economy is an economic system in which resource input, waste, emissions, and energy leakages are minimised by cycling, extending, intensifying, and dematerialising energy, material, and water loops. We can achieve this in different ways, including repairing, remanufacturing, refurbishing, and recycling, but also by digitalising physical products, clever maintenance, or by designing long-lasting products.

This unit introduces you to the circular economy, leveraging Monash University’s multi-disciplinary expertise and commitment to leadership in the circular economy. It integrates insights from sustainable development, systems thinking, management science, green technologies, behavioural science, industrial design, and social sciences. The unit offers a holistic view of the circular economy paradigm and potential solutions, providing guiding frameworks and practical tools. You will engage with real-world innovations, learn from industry practitioners and researchers, apply your learning through design thinking-based workshops, and reflect on what you learned on a local field trip to a circular venture.