Reimagining the Introductory Material in Teaching Money Creation and Monetary Policy

Autor/in	Neveu, Andre R.
Titel	Reimagining the Introductory Material in Teaching Money Creation and Monetary Policy
Quelle	In: Journal of Economic Education, 51 (2020) 3-4, S.297-316 (20 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Zusatzinformation	ORCID (Neveu, Andre R.)
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
DOI	10.1080/00220485.2020.1804505
Schlagwörter	Macroeconomics; Introductory Courses; Economics Education; Monetary Systems; Banking; Undergraduate Study; Debt (Financial); Credit (Finance); Income; Textbooks; Financial Support + Suchen Sie Ihr Suchwort? Makroökonomie; Einführungskurs; Wirtschaftskunde; Monetary system; Währungssystem; Bankgeschäft; Grundstudium; Credit; Kredit; Einkommen; Textbook; Text book; Schulbuch; Lehrbuch; Finanzielle Förderung
Abstract	The money creation and monetary policy chapters in the leading introductory textbooks commonly present an outdated and misleading approach that is now largely irrelevant. A preferable model would help students understand that money and monetary policy are about bank and household motives, the importance of capital, and the role of credit. An updated approach would move beyond the current orthodoxy, which assumes both that the mechanical base-multiplier explains monetary policy and the quantity theory explains inflation. Monetary policy has evolved dramatically in the last 40 years. Therefore, textbook authors and teachers of introductory macroeconomics might consider some of these suggestions to help explain recent events. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01