The 3-equation model by Carlin and Soskice (2014) introduces the current consensus in modern monetary macroeconomics to undergraduates through a static framework in which adjustment occurs via the monetary policy rule of an inflation-targeting central bank. In this article, the authors present a dynamic extension of this model and an Excel-based…

For the open economy, the workhorse model in intermediate textbooks still is the Mundell-Fleming model, which basically extends the investment and savings, liquidity preference and money supply (IS-LM) model to open economy problems. The authors present a simple New Keynesian model of the open economy that introduces open economy considerations…

This is a unique and groundbreaking collection of questions and answers coming from higher education institutions on diverse fields and across a wide spectrum of countries and cultures. It creates routes for further innovation, collaboration amidst the Sciences (both Natural and Social), the Humanities, and the private and public sectors of…

Presents a teaching model that is consistent with the traditional approach to demonstrating the expansion and contraction of the money supply. Suggests that the model provides a simple and convenient visual image of changes in the monetary system. Describes the model as juxtaposing the behavior of the moneyholding public with that of the…

Considers the impact of fiscal variables on the money supply. Reviews theoretical linkages and recent empirical evidence of a Federal Reserve influence on the U. S. money supply. Concludes that there is no single, generally accepted model of the Federal Reserve that can be relied upon to solve the question of the impact of federal budgets. (JDH)

Presents Michal Kalecki's macro-economic model and two-sector version of the model by Robinson and Eatwell as circular flow diagrams. Advantages of using this approach in first-year undergraduate economics programs are discussed. Available from: General Secretary, Economics Association, Room 340, Hamilton House, Mabledon Place, London WC1H 9BH,…

This paper describes the Schumpeterian schema of capitalist business cycles. The creator of the model, Joseph A. Schumpeter (1883-1950), was a Czech-born and Viennese-educated theoretical economist who emigrated to the United States in the 1930s and taught at Harvard University for 18 years. He is particularly remembered in economic circles for…

Describes graphical techniques to help explain the multiple creation of deposits that accompany lending in a fractional reserve banking system. Presents a model that emphasizes the banking system, the interaction of total permitted, required, and excess reserves and deposits. Argues that the approach simplifies information to examining a slope…

A multimedia course in economic analysis was developed and used in conjunction with the United States Naval Academy. (See ED 043 790 and ED 043 791 for final reports of the project evaluation and development model.) This report deals with the second concept area of the course and focuses on macroeconomics. Segments 17 through 49 are presented,…

Theories and models dealing with the vicious cycle between exchange rates and domestic inflation and the way in which this relationship has influenced the economic policies of European nations are reviewed. Attempts of European nations to avoid the cycle of depreciation and inflation are covered. New theories may be necessary. (IS)

Important changes are taking place in the world economy which are not adequately dealt with by either Keynesian or monetarist theories. Too much emphasis placed on what is happening in the American and western European economies can blind us to important developments in such nonwestern economies as the OPEC nations. (IS)

Offers instructors a presentation of the IS (investment saving)-LM (liquidity preference-money supply) model, suggesting that a number of benefits emerge if the instructor focuses on what determines the size of both the horizontal and vertical distances between the IS curves and between the LM curves. (CMK)

A multimedia course in economic analysis was developed and used in conjunction with the United States Naval Academy. (See ED 043 790 and ED 043 791 for final reports of the project evaluation and development model.) This volume of the text discusses the simulation of behavioral relationships among variable elements in an economy and presents…

Since the 1970s, economists have recognized that a booming export sector of the economy can have unfortunate consequences for other sectors and lead to both appreciation of that nation's currency and a weakening position for its exports. A model to stimulate the effects of this situation is discussed. (IS)

A model of the impact of urban networks on monetary circulation is developed. The author argues that considering the effects of urbanization and occupational specialization on the velocity of money provides a fuller understanding of English inflation from 1500-1650 than traditional explanations focusing on population growth or changes in the money…