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on Post Keynesian Economics |
| By: | Marketa W. Halova (Department of Economics, Washington State University); Georg H. Strasser (Department of Economics, Boston College) |
| Abstract: | We describe experiences from integrating a semester-long economic analysis project into an intermediate macroeconomic theory course. Students work in teams of "economic advisors" to write a series of nested reports for a decision-maker, analyzing the current economic situation, evaluating and proposing policies while responding to events during the semester in real-time. The project simulates real-world policy con- sulting with an emphasis on applying economic theory and models. We describe the project setup and how to tailor its theme to current events, explain methods for keep- ing it manageable in larger classes, and document student learning outcomes by survey results and report summaries. Besides improving the learning experience, this project equips economics students to contribute their own views to policy debates and buttress them with tight macroeconomic reasoning. |
| Keywords: | Teaching intermediate macroeconomic theory, nancial crisis, cooperative learning, team-based writing project |
| JEL: | A20 A22 E00 G01 |
| Date: | 2013–08–11 |
| URL: | http://d.repec.org/n?u=RePEc:boc:bocoec:826&r=pke |
| By: | Spolaore, Enrico (Tufts University) |
| Abstract: | Europe’s monetary union is part of a broader process of integration that started in the aftermath of World War II. In this “political guide for economists” we look at the creation of the euro within the bigger picture of European integration. How and why were European institutions established? What are the goals and determinants of European Integration? What is European integration really about? We address these questions from a political-economy perspective, building on ideas and results from the economic literature on the formation of states and political unions. Specifically, we look at the motivations, assumptions, and limitations of the European strategy, initiated by Jean Monnet and his collaborators, of partially integrating policy functions in a few areas, with the expectation that more integration will follow in other areas, in a sort of chain reaction towards an “ever-closer union.” The euro with its current problems is a child of that strategy and its limits |
| Keywords: | European integration |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:cge:warwcg:140&r=pke |
| By: | Crafts, Nicholas (University of Warwick) |
| Abstract: | If the Eurozone follows the precedent of the 1930s, it will not survive. The attractions of escaping from the gold standard then were massive and they point to a strategy of devalue and default for today’s crisis countries. A fully-federal Europe with a banking union and a fiscal union is the best solution to this problem but is politically infeasible. However, it may be possible to underpin the Euro by a ‘Bretton-Woods compromise’ that accepts a retreat from some aspects of deep economic integration since exit entails new risks of financial crisis that were not present eighty years ago. |
| Keywords: | economic disintegration; Eurozone; financial repression; gold standard; macroeconomic trilemma; political trilemma |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:cge:warwcg:141&r=pke |