by From Asad Zaman Last semester I taught an MMT-based Macro course which attempted to re-integrate history into economics. The course was based on the premise that economic theories cannot be understood outside the historical context in which they were born. Standard graduate macro courses attempt to teach a body of theory which has been empirically falsified. My course had the goal of giving the student the ability to understand major economic events of the past century. A previous post on MMT Macro Final (1/3) provided the first 4 questions and answers for the Final Exam, as a sample of what was taught. This post provides questions 5 to 8, together with the answers. read more
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from Asad Zaman
Last semester I taught an MMT-based Macro course which attempted to re-integrate history into economics. The course was based on the premise that economic theories cannot be understood outside the historical context in which they were born. Standard graduate macro courses attempt to teach a body of theory which has been empirically falsified. My course had the goal of giving the student the ability to understand major economic events of the past century. A previous post on MMT Macro Final (1/3) provided the first 4 questions and answers for the Final Exam, as a sample of what was taught. This post provides questions 5 to 8, together with the answers. read more