Blogs

Why the Economics Curriculum Needs the Context of History

Reforming the economics curriculum is emerging as a hot topic in academic circles.

Critics of the current approach to economics have cited numerous flaws in the way the discipline is taught. But one key area of focus must be to return the study of history to the standard economics text. Because the way economics is taught now, decontextualized from history, fails to explain the selective economic models that it is teaching appropriately and fairly. Read more

Upcoming Grant Round to Highlight Curriculum

The Institute for New Economic Thinking will issue a request for proposals for grants in September 2014 with awards to be announced in March 2015. 
 
Priority research themes emphasized by the governing board of the Institute of New Economic Thinking will be presented at the time of the announcement, along with a finalized application timeline.
 
This year, the Institute is additionally interested in grant applications for the provision of a wider range of curricular materials designed to support better economic thinking and teaching.
 

Inequality as a cause of the financial crisis and current account imbalances

Thomas Piketty’s Capital in the 21st Century has spurred an intense debate over the macroeconomic causes of income and wealth inequality. Meanwhile, a growing amount of research suggests that inequality itself is an important cause of macroeconomic instability.

In the short interview with Deutsche Welle, Institute grantee Till van Treeck explains how inequality can contribute to macroeconomic instability.

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Thoughts On Skidelsky's Rant Against The Current Economics Curriculum

Originally posted on Brad DeLong's Grasping RealityJune 18, 2014

The extremely wise Robert Skidelsky has an excellent rant against Anglo-Saxon economics departments:

Robert Skidesky: Knocking the scientific halo off mainstream economists' teaching and research: "The growing discontent of economics students...

Lifetime Achievement Award for Prof. Sir David Hendry

One of the world's leading economists, INET Oxford's Prof. Sir David Hendry received a unique award from the Economic and Social Research Council (ESRC)

At a ceremony June 6th he was given the Celebrating Impact Lifetime Achievement Award. Sir David is Professor of Economics at the University of Oxford and Director of the Programme in Economic Modelling in the Institute for New Economic Thinking at the Oxford Martin School (INET Oxford).

Piketty Responds in Detail to FT Criticism

Thomas Piketty has written a detailed response to the critique of his work by the Financial Times. His full response is available here and the first few paragraphs are below.

Full Disclosure: The Institute for New Economic Thinking has extensively supported the World Top Incomes Database on which Piketty’s book Capital in the 21st Century draws extensively. Read more

FREE Course on the Economics of Money and Banking

Missed last year's course? Interested in learning some new economic thinking? Want to spot the next financial crisis before it’s too late? Then sign up for this FREE online class on The Economics of Money and Banking! Read more

Lance Taylor: The Triumph of the Rentier? Thomas Piketty vs. Luigi Pasinetti and John Maynard Keynes

Thomas Piketty’s Capital in the Twenty-First Century has stimulated enormous interest. Among the most provocative parts of the book is his discussion of the economic factors making for the concentration of wealth in the long run. This is a topic of great popular interest, but it also involves some of the most subtle and controversial aspects of contemporary economic theory. Read more