Macro topic mind map

Section A
1. Macroeconomic history
2. Seminar 1:
  1. Financial globalisation andits issues
  2. The key theoretical divide between Keynesiam and orhodoxy
  3. The current conjuncture between keynesiam and orthodoxy characterised by the dominance of international flow and the subordination of certain aspects of domestic policy sovereignty
3. Seminar 2:
  1. Deeper historical issues 1970s and 1980s
  2. Demise of Bretton Woods and Rise of Policy orthodoxy
  3. Contrasts to the modern consensus (represented by Goodfriend) with a brauder and deeper approach (Arrighi)
Section B
1. Aggregate Supply: Technology, capital and socio-political factors in the Long Run
2. Seminar 3
  1. The process of Long Run growth and Economic development
  2. Historical case study of USA catching up and forging ahead
  3. patterns of uneven development in 19th and 20th century
  4. Are countries best interests best served by embracing liberal economic and political principles? If this is the case, is ‘uneven development’ a matter of fate, exacerbated by bad policy. Or do countries need to take their fates into their own hands and actively adopt more ‘developmental policies’?
3. Seminar 4
  1. Keynes I and Keynes II: ISLM and Beyond
4. Seminar 5
  1. Keynesian Regulationist approach vs the New Consenus
Section C
1. Applications (Seminar 6-8)
  1. Decade prior to the financial crisis, orthodox macro presented itself as:
    1. having achieved a new consensus regarding the most important issues
    2. deserving at least some credit for what came to be called the ‘Great Moderation’ (see Goodfriend, 2007; Bernanke and Mishkin, 1997).
  2. Sense of achievement and consensus emerged in developing countries such as SA
    1. Pursuit of low infaltion
  3. Sem 6: renew the critique of the monetary consensus
    1. Inflation targeting
  4. Sem 7&8: Hetrodox extensions
    1. Basis of keynes I and his writing in 1920s
  5. Sem 7: Emerging literature on the macro economics of the developmental state
  6. Sem 8:
    1. Europe and constest the idea that the Eurozon crisis reflects the failure of social democracy

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Macro topic mind map

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