PART I: PRINCIPLES OF POST-KEYNESIAN MONETARY THEORY
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Thursday April 11
19:00 - 20:40: Competing Macroeconomic Visions
Rochon, L.-P. and S. Rossi (2022), An Introduction to Macroeconomics: second edition, Introduction, Cheltenham: Edward Elgar.
Rochon, L.-P. and S. Rossi (2022), An Introduction to Macroeconomics: second edition, chapter 1: What is Economics, Cheltenham: Edward Elgar.
Rochon, L.-P. and S. Rossi (2022), An Introduction to Macroeconomics: second edition, chapter 2: The State of Macroeconomics, Cheltenham: Edward Elgar.
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Fields, D. (2015), “Competing Visions in Economics as a Social Science: A Primer”, unpublished manuscript,
Rochon, L.-P. (2023), “Should we teach neoclassical economics to undergraduates?”, @monetartyblog #115.
Deaton, A. (2024), "Rethinking my Economics", IMF Blog, March.
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Tuesday April 16
17h10 – 18h50: Kalecki, Keynes and the post-Keynesians
Dutt, A. (2022), “John Maynard Keynes”, in Bougrine, H. and L.-P. Rochon (eds), A Brief History of Economic Thought: From the Mercantilists to the Post-Keynesians, Cheltenham: Edward Elgar, pp. 74-93.
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Pressman, S. (2006), "John Maynard Keynes (1883-1946)", Fifty Major Economists, Londn: Routledge, pp. 149-158.
Sawyer, M. (2022), “MickaÅ‚ Kalecki”, in in Bougrine, H. and L.-P. Rochon (eds), A Brief History of Economic Thought: From the Mercantilists to the Post-Keynesians, Cheltenham: Edward Elgar, pp. 94-111.
Rochon, L.-P. (2023), “On the Theoretical and Institutional Roots of Post-Keynesian Economics”, Review of Political Economy, 35 (1), pp. 6-27,
19:00 - 20:40: The Main Ideas of Post-Keynesian Economics
Lavoie, M. (2009), Introduction to Post-Keynesian Economics, “chapter 1: Post-Keynesian Heterodoxy”, London: Macmillan Palgrave, pp. 1-24.
Rochon, L.-P. (2002), “The Post-Keynesian School”, in in Bougrine, H. and L.-P. Rochon (eds), A Brief History of Economic Thought: From the Mercantilists to the Post-Keynesians, Cheltenham: Edward Elgar, pp. 246-272.
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Thursday April 18
19:00 - 20:40: The Theory of Effective Demand
King, J.E. (2001). A New Guide to Post-Keynesian Economics, “Chapter 7: Labor and unemployment”, in Holt, R.P.F., Pressman, S. (eds), London and New York: Routledge.
Lavoie, M. (2009), Introduction to Post-Keynesian Economics, “Chapter 4: The Short Period: Effective Demand and the 83 Labour Market”, London: Macmillan Palgrave, pp. 83-119.
Tuesday April 23
17h10 – 18h50: The Monetary Theory of Production and the Monetary Circuit
Lavoie, M. (2009), Introduction to Post-Keynesian Economics, chapter 3: A Macroeconomic Monetary Circuit, London: Macmillan Palgrave, pp. 54-82.
Rochon, L.-P. (1999), “The Creation and Circulation of Endogenous Money: A Circuit Dynamique Approach”, Journal of Economic Issues, 33 (1), pp. 1-21.
Rochon, L.-P. (2021), “Monetary economies of production”, in Rochon, L.-P. and S. Rossi (eds), Introduction to Macroeconomics: A heterodox approach to economic analysis, Cheltenham: Edward Elgar (with S. Rossi), Second Edition, pp. 122-147.
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Rochon, L.-P. and S. Rossi (2013), “Endogenous money: the evolutionary vs revolutionary views”, Review of Keynesian Economics, 1(2), Summer, pp. 210–229.
19:00 - 20:40: The Theory of Endogenous Money and Bank Lending
Rochon, L.-P. (2006), “Endogenous money, central banks and the banking system: Basil Moore and the supply of credit”, In M. Setterfield (ed), Complexity, Endogenous Money and Macroeconomic Theory: Essays in Honour of Basil J. Moore, Cheltenham: Edward Elgar Publishing, 2006, pp. 220-243,
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Thursday, April 25
19:00 - 20:40: Mid-Term examination
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PART II: PRINCIPLES OF POST-KEYNESIAN POLICY
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Tuesday April 30
17h10 – 18h50: Deconstructing mainstream monetary theory and policy
Rochon, L.-P. (2023), “The general ineffectiveness of monetary policy”, in Kappes, S., L.-P. Rochon, and G. Vallet (eds), The Future of Central Banking, Cheltenham: Edward Elgar, pp. 20-36.
Rochon L.-P. (2023), “How not to do monetary policy”, in Jespersen, J. (ed.), Post-Keynesian Economics for the future: Sustainability, Policy and Methodology, Cheltenham: Edward Elgar, pp. 142-153.
Rochon, L.-P. (2024), “The damning truth about the UK’s 2% inflation target: it’s completely made up”, The Guardian, February 1, 2024.
Rochon, L.-P. (2023, “Deconstructing Mainstream Theory”, Presentation made in Mexico.
19:00 - 20:40: Monetary Policy and Income Distribution
Kappes, S. (2023), “Monetary Policy and Personal Income Distribution: A Survey of the Empirical Literature”, Review of Political Economy, 35 (1), pp. 211-230.
Rochon, L.-P. and M. Seccareccia (2023), “A primer on monetary policy and its effect on income distribution: a heterodox perspective”, in Kappes, S., L.-P. Rochon and G. Vallet. Central Banking, Monetary Policy and Income Distribution, Cheltenham: Edward Elgar, pp. 20-34.
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Fields, D. (2022), “Monetary policy as social conflict”, @monetaryblog,
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Thursday, May 2, 2024: no classes
Tuesday May 7, 2024
17h10 – 18h50: Price Setting and Inflation
Lavoie, M. (2001), “Pricing”, in Holt, R. and S. Pressman (eds), A New Guide to Post-Keynesian Economics, London: Routledge, pp. 21-31.
19:00 - 20:40: Inflation
Rochon, L.-P. (2023), Presentation at the United Nations, Department of Economic and Social Affairs, New York, February, 2023.
Thursday May 9
17h10 – 18h50: Post-Keynesian Economics and Ecological Theory
Solari, M. and S. Rossi (2024), “Should we care about the environment in a market economy?”, in Bougrine, H., L.-P. Rochon and M. Seccareccia (eds), Intermediate Microeconomics: Theory, policy and competing perspectives, Cheltenham: Edward Elgar.
Solari, M., L.-P. Rochon and S. Rossi (2024), “Principles of Post-Keynesian Ecological Theory”, in A. Hermann (ed.), Conceptualizing an Alternative Political Economy of Sustainability: The Contributions of Heterodox Economics, London: Routledge, forthcoming.
Fontana, G. and M. Sawyer (2016), “Towards Post-Keynesian Ecological Macroeconomics”, Ecological Economics, 121. pp. 186-195
19:00 - 20:40: Central Banking, Monetary Policy and Ecological Economics
Guttman, R. (2023), “Central banks and the zero-carbon transition: An institutional challenge”, in Rochon, L.-P., S. Kappes and G. Vallet (eds), Central Banking, Monetary Policy and the Environment, Cheltenham: Edward Elgar, pp. 21-53.
Sawyer, R. (2023), “Monetary policy, environmental sustainability and the climate emergency”, in Rochon, L.-P., S. Kappes and G. Vallet (eds), Central Banking, Monetary Policy and the Environment, Cheltenham: Edward Elgar, pp. 54-71.
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Tuesday May 14
17h10 – 18h50: Final Examination part 1
19:00 - 20:40: Final Examination part 2
