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Unit of study_

ECOS3031: Heterodox Perspectives on Macroeconomics

The unit provides an introduction to heterodox approaches to macroeconomics. This entails a fundamental departure from mainstream (i.e. marginalist) theoretical foundations. Lectures begin with the implications of a modern classical/Sraffian perpectives for the theory of value and distribution, including the explanation of the real wage and the rate of interest. This necessarily points to the celebrated capital-theoretic critique of traditional approaches to the theory of output and employment. Lectures proceed to alternative (demand-led) perspectives on growth, including discussion of modern Kaleckian and multi-commodity models, as well as heterodox views on macroeconomic policy.

Code ECOS3031
Academic unit Economics
Credit points 6
Prerequisites:
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(ECOS2001 or ECOS2901) and (ECOS2002 or ECOS2902)
Corequisites:
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None
Prohibitions:
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None

At the completion of this unit, you should be able to:

  • LO1. Demonstrate openness to new ways of thinking and appreciate the importance of intellectual curiosity and reflection as the foundation for continuous learning
  • LO2. Critically evaluate underlying theories, concepts, assumptions, limitations and arguments in economics; exercise critical judgement and critical thinking to create new modes of understanding
  • LO3. Develop coherent arguments when recommending solutions and critically evaluating theories in economics

Unit outlines

Unit outlines will be available 1 week before the first day of teaching for the relevant session.