by New MMT macroeconomics textbook This book presents a comprehensive, university level study course in Macroeconomics from a Modern Monetary Theory (MMT) perspective. Our approach is grounded in the operations of real-world institutions, and our approach clearly identifies the policymaking capacity of central governments. The pedagogy thus starts by putting the currency-issuing government at the forefront. We want students to understand how a modern monetary system operates, how the government and non- government sectors interact, how the central bank and the banks interact, how the labour market works, how trade and capital flows impact on economic outcomes and much more. Students will appreciate what the capacities of a currency-issuing government are
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New MMT macroeconomics textbook
This book presents a comprehensive, university level study course in Macroeconomics from a Modern Monetary Theory (MMT) perspective.
Our approach is grounded in the operations of real-world institutions, and our approach clearly identifies the policymaking capacity of central governments. The pedagogy thus starts by putting the currency-issuing government at the forefront.
We want students to understand how a modern monetary system operates, how the government and non- government sectors interact, how the central bank and the banks interact, how the labour market works, how trade and capital flows impact on economic outcomes and much more.
Students will appreciate what the capacities of a currency-issuing government are and how fiscal and monetaryy policy can be used purposefully to enhance the well-being of the nation.
Unlike earlier pluralist approaches to macroeconomics in which the teaching sequence begins with an exposition of the standard mainstream macroeconomics (dominated by the New Keynesian approach) and only then qualifies that conceptual structure and framing with some ‘real world’ criticisms and quibbles, we feel students are better informed if we build the narrative from the ground up, based on an understanding of how the monetary system actually operates. In adopting that approach, we are informed by our view that the mainstream macroeconomic approach does not provide coherent knowledge upon which to understand those real-world monetary operations.
I’ll be back with a review.