Teaching Macro Principles after the Financial Crisis
AbstractThe stunning events of 2007-2009 both shook the world and piqued interest in economics. In the 30-plus years that I have been teaching macro principles, I have never seen the level of interest in students as high as what I observed last year rapt attention and no sleepers! Interest in economics has grown, and our students will want, expect, and deserve explanations of these events for years to come. This is truly a teaching moment, and that moment is going to be a long one. That’s the good news. The bad news is that the current curriculum fails to give students even imperfect answers. This means that the macro principles course will have to be changed. Although we can’t provide beginning students with complete answers, we can do a lot better than we have been doing.
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Bibliographic InfoPaper provided by Princeton University, Department of Economics, Center for Economic Policy Studies. in its series Working Papers with number 1222.
Date of creation: Apr 2010
Date of revision:
macroeconomics; financial crisis; economic curriculums in schools;
Find related papers by JEL classification:
- A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
- A23 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Graduate
- E20 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- G01 - Financial Economics - - General - - - Financial Crises
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-22 (All new papers)
- NEP-CBA-2010-05-22 (Central Banking)
- NEP-HPE-2010-05-22 (History & Philosophy of Economics)
- NEP-PKE-2010-05-22 (Post Keynesian Economics)
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