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Eight Reasons Why Real versus Nominal Interest Rates Is the Most Important Concept in Macroeconomics Principles Courses

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  • Peter E. Kennedy

Abstract

The purpose of this paper is to argue that the distinction between real and nominal interest rates is the most important concept taught in macroeconomics principle courses. By "important" I mean "useful for interpreting and evaluating media reporting of the macroeconomy". This presumes that a major goal of our macroeconomics principles course is to produce students capable of understanding macroeconomics encountered in the media.
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Suggested Citation

  • Peter E. Kennedy, 2000. "Eight Reasons Why Real versus Nominal Interest Rates Is the Most Important Concept in Macroeconomics Principles Courses," American Economic Review, American Economic Association, vol. 90(2), pages 81-84, May.
    • Handle: RePEc:aea:aecrev:v:90:y:2000:i:2:p:81-84
    Note: DOI: 10.1257/aer.90.2.81
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    References listed on IDEAS

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    1. Peter Kennedy, 2000. "Macroeconomic Essentials, 2nd Edition: Understanding Economics in the News," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262611503, December.
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    Cited by:

    1. Gurbachan Singh, "undated". "Why is 100% Reserve Banking Inefficient?," Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi Discussion Papers 09-07, Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi, India.
    2. Mark T. Gillis & Joshua Hall, 2010. "Using The Simpsons to Improve Economic Instruction Through Policy Analysis," The American Economist, Sage Publications, vol. 55(1), pages 84-92, May.
    3. Janet T. Knoedler & Daniel A. Underwood, 2004. "La enseñanza de los Principios de Economía: propuesta para un enfoque multiparadigmático," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 6(11), pages 39-72, July-Dece.
    4. W. Lee Hansen & Michael K. Salemi & John J. Siegfried, 2002. "Use It or Lose It: Teaching Literacy in the Economics Principles Course," American Economic Review, American Economic Association, vol. 92(2), pages 463-472, May.
    5. W. Lee Hansen & Michael K. Salemi & John J. Siegfried, 2001. "Creating a Standards-Based Economics Principles Course," Vanderbilt University Department of Economics Working Papers 0105, Vanderbilt University Department of Economics.

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    More about this item

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate

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