Abstract
The Economy presents a new approach to teaching macroeconomics. It starts from real-life institutions of macroeconomic policy management, teaching models that engage directly with these institutions. Money and monetary policy are explained in the context of modern banking systems, while the Phillips curve is derived from the labour market model. By emphasising empirical applicability, and the linkages with microeconomics, it provides students with a more intuitive and realistic understanding than standard approaches.
| Original language | English |
|---|---|
| Pages (from-to) | 29-32 |
| Number of pages | 4 |
| Journal | Economic and Political Weekly |
| Volume | 53 |
| Issue number | 24 |
| Publication status | Published - 16 Jun 2018 |
