A pluralist approach to economics is both necessary from anacademic as well a policy point of view. From an academicviewpoint pluralism can be understood as the outcome ofcompetition and specialization in the search for new ideasthat can deal with imperfections of the real world. From apolicy...

The standard textbook presentation of many policy issues, such as the financial crisis and income distribution, is problematic. This view is shared by many economists, both mainstream and heterodox. Despite this agreement, it has not and will not change because the textbook presentations have...

This paper evaluates the use of specialist software within university trading rooms in order to enable students to experience a simulated environment which allows them to gain an appreciation of "real life" decision-making within the finance and banking industry and become familiar with...

In der Londoner U-Bahn warnen die Worte „Mind the gap!“ vor der Lücke zwischen Bahn und Bahnsteigkante. Auch die Diskrepanz zwischen Sozialstruktur und Semantik kann zum Stolperstein werden. Wenn Semantiken ihre Passgenauigkeit verlieren und den gesellschaftlichen Diskurs mit Kategorien...

This paper presents some Excel-based exercises that allow students to estimate some key macroeconomic relationships: Okun's Law and the Taylor rule. The Okun's law exercise has the additional benefit of providing estimates for long-run GDP growth. The Taylor rule exercises give students the...

In answer to the long-standing question, what kinds of knowledge and skills should economics majors master, Lee Hansen has advocated a proficiencies approach. According to this approach, the teaching and learning of economics undergraduates should be based on the attainment of (six) specified...

Instructors can use a computerized experiment to introduce students to imperfect competition in courses on introductory economics, industrial organization, game theory, and strategy and management. In addition to introducing students to strategic thinking in general, the experiment serves to...

Cette introduction aux modèles de croissance endogène comporte trois parties. La première partie est consacrée aux caractéristiques de la croissance exogène, plus particulièrement au modèle de Solow et à ses développements. La seconde partie présente le modèle de Ramsey-Koopmans dans...

Imports are modeled as a fixed proportion of spending rather than as a function of total or disposable income. With this formulation, the import component of spending shifts must be netted out in order to predict the initial autonomous change in domestic spending. In addition, the formulation...

The IS-LM model is the primary model of economic fluctuations taught in intermediate-level undergraduate macroeconomics. Recent works by Taylor and Romer make a strong case for an alternative model, known as the aggregate demand-price adjustment (AD-PA) or the aggregate demand-inflation...