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A New Textbook Approach to Macroeconomics: A Debate

Alessia Amighini (), Emiliano Brancaccio (), Francesco Giavazzi () and Marcello Messori
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Francesco Giavazzi: Università Bocconi and MIT

Rivista di Politica Economica, 2012, issue 3, 101-129

Abstract: Messori’s paper analyzes the impact of the recent crises on the teaching of macroeconomics. In contrast with what happened during the Thirties, today we do not have a new macroeconomic paradigm. This is why the mainstream textbook of Blanchard, Amighini, Giavazzi (2010) remains irreplaceable for introductory macroeconomics. This conclusion is refused by Amighini, Giavazzi as well as by heterodox economists such as Brancaccio. The first two authors argue that the criticisms raised at the “mainstream” approach to the teaching of macroeconomics overlook the need for a strong pedagogy. On the contrary, Brancaccio criticizes the mainstream approach through modification of the functional form of a given equation system and reversal of its exogenous and endogenous variables.

Keywords: macroeconomics; teaching; comparative approach. (search for similar items in EconPapers)
JEL-codes: A20 B22 B50 (search for similar items in EconPapers)
Date: 2012
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