Abstract
I have taught a core graduate macroeconomics course ever since I became an academic in 1990, and I often start it by saying that the subject matter is pretty similar to undergraduate macroeconomics: what determines inflation, output, the exchange rate, etc. The difference, I suggest, is that the macroeconomics you learn as a graduate student is only slightly out of date, whereas the macroeconomics taught at undergraduate level is 30 years out of date. I say this in a joking way, but unfortunately the statement contains more than a grain of truth.
My thanks to Giuseppe Fontana, John Maloney, Mark Setterfield, David Vines, and John Vickers for helpful comments on an earlier draft, but all probably disagree with at least some of the views expressed here.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Carlin, W. and Soskice, D. (2006), Macroeconomics: Markets, Imperfections and Institutions, Oxford: Oxford University Press.
Goodhart, C. A. E. (2008), ‘The continuing muddles of monetary theory: a steadfast refusal to face facts’, mimeo.
Guest, R. (2003), ‘Modifying the Taylor–Romer Model of Macroeconomic Stabilisation for Teaching Purposes’, International Review of Economics Education, 2, 58–68.
Kirsanova, T., Vines, D., and Wren-Lewis, S. (2005), ‘Inflation Bias with Dynamic Phillips Curves’, mimeo, University of Exeter.
Kirsanova, T., Leith, C., and Wren-Lewis, S. (2006), ‘Should Central Banks Target Consumer Prices or the Exchange Rate?’, Economic Journal, 116, 208–31.
Mankiw, G. (2007), Macroeconomics, 6th edn, Worth.
Obstfeld, M. and Rogoff, K. (1996), Foundations of International Macroeconomics, Cambridge, MA: MIT Press.
Romer, D. (2000) ‘Keynesian macroeconomics without the LM curve’, Journal of Economic Perspectives, 14(2), 149–69.
Solow, R. (1984), ‘Mr. Hicks and the Classics’, Oxford Economic Papers, 36, 13–25.
Taylor, J. B. (2000), ‘Teaching modern macroeconomics at the principles level’, AER Papers and Proceedings, 90(2), 90–4.
Turner, P. (2006) ‘Teaching Undergraduate Macroeconomics with the Taylor–Romer Model’, International Review of Economics Education, 5.
Woodford, M. (2003), Interest and Prices: Foundations of a Theory of Monetary Policy, Princeton: Princeton University Press.
Editor information
Editors and Affiliations
Copyright information
© 2009 Simon Wren-Lewis
About this chapter
Cite this chapter
Wren-Lewis, S. (2009). Bringing Undergraduate Macroeconomics Teaching Up to Date. In: Fontana, G., Setterfield, M. (eds) Macroeconomic Theory and Macroeconomic Pedagogy. Palgrave Macmillan, London. https://doi.org/10.1007/978-0-230-29166-9_3
Download citation
DOI: https://doi.org/10.1007/978-0-230-29166-9_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-230-27763-2
Online ISBN: 978-0-230-29166-9
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)