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Orthodox macroeconomic textbooks: A critical evaluation using institutional practice as a benchmark
International Review of Economics Education ( IF 0.782 ) Pub Date : 2021-02-10 , DOI: 10.1016/j.iree.2021.100209
James Juniper , Andrew Nadolny , George Pantalopoulos , Martin Watts

Many heterodox economists advocate the adoption of pluralist teaching strategies in universities, citing the benefits of developing the capacity of students to engage in critical thinking. However, with the dominance of orthodox macroeconomic thinking and increasing career pressures associated with the need to publish in leading mainstream journals, many teachers have become reliant on a limited number of orthodox macroeconomics textbooks. This paper explores how a small sample of leading introductory macroeconomics textbooks have responded to the challenges to orthodox macroeconomic thinking in the last decade or so since the Global Financial Crisis. We focus on the definitions of concepts and the consistency of the theoretical and policy frameworks, in the light of the insights about what we define as Institutional Practice. This concept refers to the way that the Central Bank, Treasury and commercial banks actually operate in modern monetary economies, as described by employees of international agencies such as the IMF and the European and national Central Banks. We also draw implications of our work for the teaching of undergraduate macroeconomics.



中文翻译:

东正教宏观经济教科书:以制度实践为基准的批判性评估

许多异质经济学家主张在大学中采用多元教学策略,理由是提高学生参与批判性思维的能力。然而,由于正统宏观经济学思想的主导地位以及与在主流主流期刊上发表的需求相关的职业压力日益增加,许多教师已经依赖有限数量的正统宏观经济学教科书。本文探讨了自全球金融危机以来近十年来,一小本领先的入门宏观经济学教科书样本如何应对正统的宏观经济思想所面临的挑战。根据对我们定义为“机构实践”的见解,我们专注于概念的定义以及理论和政策框架的一致性。正如国际货币基金组织(IMF),欧洲和国家中央银行等国际机构的雇员所描述的那样,这一概念指的是中央银行,国库和商业银行在现代货币经济中的实际运作方式。我们还将得出我们的工作对本科宏观经济学教学的启示。

更新日期:2021-02-19
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