 Taking a leap towards a real world macroeconomics teachingStefanos Ioannou and Olivia Bullio Mattos International Journal of Pluralism and Economics Education, 2018, vol. 9, issue 4, 391-405 Abstract: Despite the centrality of finance in the workings of the modern capitalist economy, macroeconomics is still taught with no serious consideration of monetary and financial dynamics. This has become even more puzzling in the light of the recent financial crisis. Our paper discusses a more pluralistic framework for teaching basic macroeconomics, inclusive of some of the most important ideas of Keynes on interest and money. The incorporation of Keynesian economics not only allows students to broaden their thinking in considering alternative answers to given questions; it also reshapes the questions themselves. In doing so, it changes the framework within which students come to think of policy. Focusing on the case of monetary policy, we point out the commonality between the mainstream teaching paradigm and the actual mindset that influences policy making. Furthermore, we discuss the ways in which the scope and aims of monetary policy are altered under a Keynesian/Minskyan framework. Keywords: economic pedagogy; macroeconomics; money; finance; financial crisis; general equilibrium model; Keynesian economics; monetary policy; central bank; endogenous money; financial fragility. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijplur:v:9:y:2018:i:4:p:391-405 Access Statistics for this article More articles in International Journal of Pluralism and Economics Education from Inderscience Enterprises Ltd |
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