Keynesian Monetary Economics - JEM022

• Title: Keynesian Monetary Economics
• Guaranteed by: Institute of Economic Studies (23-IES)
• Faculty: Faculty of Social Sciences
• Actual: from 2009
• Semester: summer
• E-Credits: 6
• Examination process: summer s.:
• Hours per week, examination: summer s.:0/4, Ex [HT]
• Capacity: unknown / unknown (unknown)
• Min. number of students: unlimited
• 4EU+: no
• Virtual mobility / capacity: no
• State of the course: not taught
• Language: English
• Teaching methods: full-time
• Note: course can be enrolled in outside the study plan; enabled for web enrollment; priority enrollment if the course is part of the study plan
• Guarantor: Mgr. Jan Čech
• Incompatibility : {Ekonomie(magisterské studium) specializace finance, finanční trhy a bankovnictví - Povinně volitelné předměty - specializace}, {Ekonomie(magisterské studium) specializace finance, finanční trhy a bankovnictví - povinně volitelné}, {Ekonomie(magisterské studium) specializace Evropská ekonomická integrace a hospodářská politika - povinné}, {Ekonomie(magisterské studium) specializace Evropská ekonomická integrace a hospodářská politika - povinně volitelné}

Annotation

English

The aim of the course is to enhance understanding of development of the most important streams of keynesian macroeconomics on the bases of discussions of original papers and chapters of the most important books.

Students are required to write an essay of about 15 pages. This essay is the bases for evaluation of student`s achievements during the course.

Last update: Sojka Luděk, RNDr., Ph.D. (02.10.2006)

Czech

Předmět podává seminární formou přehled o vzniku a vývoji keynesovské ekonomie. Důraz je kladen na historický vývoj keynesovské makroekonomie, na její teoretická východiska a vývojové tendence. Předmět rozvíjí poznatky ze základních kursů makroekonomie a dějin ekonomických teorií.

Student vypracuje cca 15 stránkovou esej. Na základě této eseje a s přihlédnutím k aktivitě studenta v průběhu kursu je stanovena konečná známka.

Last update: Sojka Luděk, RNDr., Ph.D. (02.10.2006)

Literature

R. Backhouse: A History of Modern Economic Analysis. Oxford, Basil Blackwell 1985

Sh. Dow: Macroeconomic Thought. A Methodological Approach. Oxford, OUP 1985

Arestis Ph.: The Post-Keynesian Approach to Economics. Aldershot, Edward Elgar 1992

Carlin, W., Soskice, D.: Macroeconomics and the Wage Bargain. Oxford, OUP 1990

Last update: Sojka Luděk, RNDr., Ph.D. (02.10.2006)

Syllabus

English

I. Foundations of the keynesian macroeconomics in the work of John Maynard Keynes

1. The Treatise on Money . London, Macmillan 1930 (ch. 15)

2. The General Theory of Employment, Interest and Money. San Diego, HBJ 1953 (ch. 5, 12)

II. Neokeynesian macroeconomics - the Great Neoclassical Synthesis

3. John Hicks: Mr. Keynes and the Classics. Econometrica, Vol. 5, April 1937

4. Franco Modigliani: Liquidity Preference and the Theory of Interest and Money. Econometrica, Vol. 12, January 1944

5. James Tobin: Inflation and unemployment. American Economic Review, March 1972;Price Flexibility and Output Stability - An Old Keynesian View. The Journal of Economic Perspectives, No. 1, Vol. 7, Winter 1993

III. Disequilibrium keynesianism

6. Robert Clower: The Keynesian Counterrevolution: A Theoretical Appraisal. In: Hahn, F. E., Brechling, F. P. R. (eds.): The Theory of Interest Rates. London, Macmillan 1965

7. Axel Leijonhufvud: Keynes and the Keynesians. A Suggested Interpretation. American Economic Review, Vol. 57, May 1967

IV. Postkeynesian Economics

8. Nicholas Kaldor: The Irrelevance of Equilibrium Economics. The Economic Journal, No. 328, Vol. 82, December 1972

9. Jan Kregel: Economic Methodology in the Face of Uncertainty. Economic Journal, Vol. 86, June 1976

10. Hyman Philip Minsky: The Financial Instability Hypothesis: A Restatement.Thames Papers on Political Economy 1981; Paul Davidson: A Technical definition of Uncertainty and the Long-Run Non-Neutrality of Money. Cambridge Journal of Economics, Vol. 12, 1988

V. New Keynesian Economics

11. James Meade: Wage-Fixing Revisited. London, IEA 1985

12. George Akerlof, Janet Yellen: A Near Rational Model of the Business Cycle with Wage and Price Inertia. The Quarterly Journal of Economics, Vol. C -- Supplement, 1985

13. Bruce Greenwald and Joseph Stiglitz: New and Old Keynesians. Journal of Economic Perspectives, Vol. 7, No. 1, Winter 1993

Last update: Sojka Luděk, RNDr., Ph.D. (02.10.2006)