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Complexity and Macro Pedagogy: The Complexity Vision as a Bridge between Graduate and Undergraduate Macro

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  • David Colander

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  • Casey Rothschild

    ()

Abstract

The macro economy is complex; everyone knows that. Complex systems are difficult to analyze and manage; everyone knows that too. The best approach to teaching and describing the complex macro economy is something we know much less well. Currently, in teaching macro to both graduate and undergraduate students, we don’t stress just how complex the economy really is. The argument in this paper is that we should emphasize that complexity to frame the macro question.1 Having done that, we can get on with what we do, and much of the structure of both the graduate and undergraduate macro can be taught as it currently is. But instead of seeing the approaches at the two levels as substitutes for one another, complexity helps to frame as what they really are: complementary approaches to addressing a challenging set of questions.

Suggested Citation

  • David Colander & Casey Rothschild, 2008. "Complexity and Macro Pedagogy: The Complexity Vision as a Bridge between Graduate and Undergraduate Macro," Middlebury College Working Paper Series 0801, Middlebury College, Department of Economics.
  • Handle: RePEc:mdl:mdlpap:0801
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    File URL: http://www.middlebury.edu/services/econ/repec/mdl/ancoec/0801.pdf
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    1. Solow, R M, 1984. "Mr. Hicks and the Classics," Oxford Economic Papers, Oxford University Press, vol. 36(0), pages 13-25, Supplemen.
    2. Colander, David, 2003. "The Aging of an Economist," Journal of the History of Economic Thought, Cambridge University Press, vol. 25(02), pages 157-176, June.
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