This short video by the Khan Academy presents a classic introduction to economic teaching. Starting with the quote by Adam Smith in "The Wealth of Nations" on the invisible hand, it shows how economics deals with the question of the allocation of scarce resources and shortly presents different questions addressed by microeconomics and macroeconomics. It further makes reference to questions of simplification in mathematical models. 2012 Level: débutant Introduction to economics | Supply, demand, and market equilibrium | Microeconomics   Khan Academy Based on a critique on econometric and DSGE models (in particular in the context of the financial crisis), Doyne Farmer presents his current research programme that aims at building an agent-based model of the financial and economic crisis. It models heterogeneous agents and from there simulates the economy, firstly for the housing market. The interview gives a short insight in the research programme. 2011 Level: débutant Macroeconomics From the Bottom Up Doyne Farmer INET In the keynote speech, Sigrid Stagl argues why it is necessary to include socio-ecological aspects in macoreconomic models. The talk focuses on the ecological necessities, mentioning limits to growth, resource extraction and planetary boundaries. At the end, Stagl shortly presents several current macroeconomic initiatives and models that move towards a a socio-ecological macroeconomics. 2013 Level: débutant Towards a socio-ecological macroeconomics Sigrid Stagl Konzeptwerk Neue Ökonomie The first keynote speech was given by Sebastian Dullien, current spokesperson of FMM and who is one of the most well-known German economists in applied European economics and a very active contributor to the pluralist debate. Sebastian discusses the strategy of “running with the pack” by using orthodox methods to disseminate pluralist economics and politics. Referring to diverse examples Sebastian addresses the pros and cons of “running with the pack” and proposes alternative approaches to achieve more pluralism in economics. 2016 Level: débutant How to promote alternative macroeconomic ideas: Are there limits to running with the (mainstream) pack? Sebastian Dullien IMK The lectures were given by Steve Keen at the Exploring Economics Summer Academy 2017 in the workshop on Post Keynesian Economics The first lectures start with the role of money in a monetary economy and explain the macroeconomic significance of admitting the reality that banks create money The lectures continue … 2017 Level: expert Exploring Economics 2017 Lectures Steve Keen ProfSteveKeen On this episode of the Hayek Program Podcast, Professor Roger Koppl talks with Hayek Program Research Fellow Solomon Stein about his research on experts, evolution, and the dynamics of epistemics, his career, and in what future direction(s) he thinks Austrian economics will go. 2018 Level: avancé Austrian Epistemics Roger Koppl and Solomon Stein Mercatus Center: F. A. Hayek Program, GMU This lecture is all about the challenge to include heterodox approaches into macroeconomics. After giving an overview of recent approaches to that problem Professor Michael Roos presents the theoretical framework of Complexity Economics as a means to combine behavioral aspects with macroeconomics. 2016 Level: avancé Behavioural and Complexity Macroeconomics Michael Roos IMK Ricardo Hausmann says the new industrial policy is an information revelation process about the state of possibilities, the nature of the obstacles and figuring out whether you can sort out the obstacles so that these new activities can take over. 2018 Level: débutant Industrial Policy: Love it or Hate it? Ricardo Hausmann Center for International Development at Harvard University Anwar Shaikh explores alternative economic explanations, emphasizing 'real competition' theory and the role of imperfections in economic patterns. 2017 Level: avancé Capitalism: Competition, Conflict, Crisis Anwar Shaikh The New School for Social Research In order to describe the global structure of the monetary and financial system and its effects on the global economy, most economics textbooks rely on unappropriated theories that provide nothing but outdated descriptions. In this talk, key speakers in economics, economic history and banking try to make this complex system a little more understandable by relying on real-world insights. 2016 Level: avancé Global Money: Past, Present, Future Perry Mehrling, Adam Tooze, Patricia Mosser, Phil Prince and Katharina Pistor (moderator) Columbia Global Thought As tax day approached, St. Francis College Economics Professors launched their first Economics Week with three days of guest speakers and student research. Randall Wray explains some basic principles of Modern Monetary Theory. 2018 Level: débutant Modern Money Theory for Beginners Randall Wray St. Francis College Approaching the law of nature that determines all forms of economy. The bulk of economic theory addresses the economic process by setting out on a catalogue of aspects, seeking the laws in the aspects and hoping to get together a reliable view of the whole. 2019 Level: avancé Economic theory, methodology, and secure foundations Dr. Alec A. Schaerer Exploring Economics In this article, Perry Mehrling, a professor of economics at Barnard College, presents and discusses three theories of banking which are guiding bank regulation. These are credit creation theory, fractional reserve theory and debt intermediation theory. 2016 Level: avancé Central Bank theories of Banking and Money Perry Mehrling www.perrymehrling.com Le monde doit faire face à trois crises majeures : environnementale, inégalitaire et financière. Face aux limites de la macroéconomie classique négligeant largement ces trois enjeux pourtant cruciaux, l'Institut Veblen nous propose ici les bases d'une réflexion sur le renouveau des modèles macroéconomiques qui ne doivent plus ignorer les questions climatique, sociale et d'instabilité financière. Level: avancé Pour une macroéconomie écologique   @VeblenInstitute What data is used in the economic models of the IPCC? How problematic is it, that tipping points are often ignored? A very interesting presentation by Steve Keen during the OECD Conference "Averting Systemic Collapse". 2019 Level: débutant Averting Systemic Collapse Steve Keen ZOE. Institute for future-fit economies Ever wondered how a rap battle between John Maynard Keynes and F.A. Hayek would sound like? 2010 Level: débutant Fear the Boom and Bust: Keynes vs. Hayek - The Original Economics Rap Battle! Emergent Order Emergent Order How does fiscal policy work and which dimensions have to be considered? In this short text, you can learn about the difficulty of juggling different dimensions and which optimal rules exist at the micro and macro level. 2019 Level: débutant Why is fiscal policy so difficult?   Dezernat Zukunft As part of the 2019/2020 Exploring Economics Experience, one of our supporters Prof. Steve Keen gave a presentation to our editorial team. Read more 2020 Level: expert The foundations of monetary macroeconomics - Steve Keen | Exploring Economics Global Lecture Steve Keen Exploring Economics The vast uncertainty surrounding the possible spread of COVID 19 and the duration of the near economic standstill required to combat it make forecasting little different from guessing Clearly this is a whatever it takes moment for large scale outside the box fiscal and monetary policies Carmen M Reinhart Project … 2020 Level: avancé This Time Truly Is Different | by Carmen M. Reinhart Carmen M. Reinhart Project Syndicate Michael Kalecki famously remarked “I have found out what economics is; it is the science of confusing stocks with flows”. Stock-Flow Consistent (SFC) models were developed precisely to address this kind of confusion. The basic intuition of SFC models is that the economy is built up as a set of intersecting balance sheets, where transactions between entities are called flows and the value of the assets/liabilities they hold are called stocks. Wages are a flow; bank deposits are a stock, and confusing the two directly is a category error. In this edition of the pluralist showcase I will first describe the logic of SFC models – which is worth exploring in depth – before discussing empirical calibration and applications of the models. Warning that there is a little more maths in this post than usual (i.e. some), but you should be able to skip those parts and still easily get the picture. 2020 Level: débutant Stock Flow Consistent Macroeconomics Cahal Moran Rethinking Economics What influence do changes in tax policy or state decisions on expenditure have on economic growth? For decades, this question has been controversially debated. 2020 Level: avancé What is the fiscal multiplier and why is it so controversial? Sebastian Gerchert Exploring Economics Jens Beckert and Richard Bronk, authors of "Uncertain Times", explore the extent to which flaws, blind spots and more importantly bias created by macroeconomics models, based on forecasts and statistical devices, shape crisis and the market economy in which we live. 2018 Level: débutant Economics for Uncertain Times RSA Events, Jens Beckert and Richard Bronk RSA Events In the fifth part of the Economics of COVID-19 Webinar by SOAS, Jo Michell sketches out the effects of the COVID-19 pandemic on the wider macroeconomy and warns against a resurgence of austerity politics. 2020 Level: avancé Will Coronavirus Mean the End of Austerity? The Macroeconomics of the COVID-19 Crisis SOAS Open Economics Forum, SOAS Economics Department, Jo Michell SOAS University of London In this paper the main developments in post-Keynesian macroeconomics since the mid- 1990s will be reviewed. For this purpose the main differences between heterodox economics in general, including post-Keynesian economics, and orthodox economics will be reiterated and an overview over the strands of post-Keynesian economics, their commonalities and developments since the 1930s will be outlined. This will provide the grounds for touching upon three important areas of development and progress of post-Keynesian macroeconomics since the mid-1990s: first, the integration of distribution issues and distributional conflict into short- and long-run macroeconomics, both in theoretical and in empirical/applied works; second, the integrated analysis of money, finance and macroeconomics and its application to changing institutional and historical circumstances, like the process of financialisation; and third, the development of full-blown macroeconomic models, providing alternatives to the mainstream 'New Consensus Model' (NCM), and allowing to derive a full macroeconomic policy mix as a more convincing alternative to the one implied and proposed by the mainstream NCM, which has desperately failed in the face of the recent crises. 2012 Level: avancé Post-Keynesian macroeconomics since the mid-1990s: Main developments Eckhart Hein Institute for International Political Economy Berlin The mandate of central banks has seemed clear for decades : keep inflation low. Nevertheless borders between monetary, financial and economic policy have been blurry even before the pandemic.. Faced with the challenges of the climate crisis, slow growth, unemployment and inequality, does the financial and monetary system need a new constitutional purpose. 2020 Level: débutant Beyond Price Stability Das Progressive Zentrum, Daniela Gabor, Christian Odendahl, Philippa Sigl-Glöckner & Adam Tooze www.innocracy.eu The current Great Recession, the worst crisis that capitalism has faced since the Great Depression, has failed, at least so far, to generate a change in the teaching and practice of Macroeconomics. This seems bizarre as if nothing has happened and the economists are just going about doing business as usual. In light of this, the current paper attempts to address how Macroeconomics ought to be taught to students at the advanced intermediate level, which gives them an overall perspective on the subject. Level: débutant Plurality in Teaching Macroeconomics Rohit Azad New School for Social Research, Department of Economics This is an introductory level core course in macroeconomics for those expecting to take further courses in economics. It provides a theoretical and applied approach of introductory macroeconomics, with an international perspective and applications to account for the growing importance of the global economy and the rising openness of economies. 2021 Level: avancé Introduction to Macroeconomics Jeff Powell Exploring Economics asds 2021 Level: avancé Après l'hibernation Michel Husson À l'encontre Au coeur de l instabilité monétaire et financière de nombreux pays l attaque spéculative n en est pas moins un concept obscur pour les néophytes Le CaptainEconomics coutumier de la vulgarisation de concepts obscurs nous prend une nouvelle fois par la main pour et déroule le mécanisme avec précision mais … 2012 Level: débutant Comment une attaque spéculative peut faire s'écrouler un régime de change ? Thomas Renault CaptainEconomics "La crise sanitaire s’est soldée par une mise à l’arrêt de l’économie et une explosion des déficits publics. Le débat économique fait rage sur la gestion à adopter de cette dette Covid mais, pour en discuter, encore faut-il poser le bon diagnostic : quel est l’effet d’un déficit public ? Sont-ils tous utiles ? Comment sont-ils financés ? Ce petit récap propose quelques bases de macroéconomie à ceux qui souhaitent s’emparer de ces questions hautement politiques." 2021 Level: débutant Petit récap macro par temps de crise pour ne pas se faire enfumer Alban Pellegris Le blog de L’association AMIES - Alternatives Économiques Institution largement méconnue du grand public la Banque des Règlements Internationaux BRI n en est pas moins un organe central de la réflexion économique Dans cet essai Henri Lepage confronte la thèse de la Stagnation Séculaire chère à Larry Summers et aux économistes néo keynésiens plus largement aux travaux de … 2019 Level: avancé BRI versus Summers Henri Lepage Inference Fighting Neoliberalism with Keynes & Minsky? Riccardo Bellofiore proposes to revise the insights of Minsky's financial instability hypothesis, combining it with the Keynesian theory of the monetary circuit to answer many questions in modern economy. 2020 Level: avancé Fighting Neoliberalism with Keynes & Minsky? Riccardo Bellofiore New Economic Thinking