Macroeconomics: A Modern Money Theory Perspective
What you'll learn
- Understand macroeconomic principles from a Modern Money Theory (MMT) perspective
- Understand how a modern money economy actually functions within the present institutional framework
- Articulate and engage with contemporary global macroeconomic debates
- Question and challenge mainstream macroeconomic discourse that limits the role of the state
Requirements
- Some familiarity with basic micro and macroeconomic principles will help
Description
Do you feel confident in engaging with contemporary macroeconomic issues? Try answering these questions: what is helicopter money? How is it different from quantitative easing (QE)? What is it that central banks promise to the pay the bearer of a currency note? How did the Fed expand its balance sheet by some US$ 7 trillion? Did it use tax payers’ money? Should the Indian government adhere to a fiscal deficit of 3% of GDP? Is Spain or Italy economically sovereign, like say, Australia or Japan? Will our grandchildren bear the burden on repayment of public debt?
Through a series of video lectures and links to resources, this course will help you in articulating contemporary macroeconomic issues that have come to dominate the media post-2008 and the 2020 pandemic crises. Unfortunately, orthodox macroeconomic analysis completely circumvents the notion of modern money and modern monetary institutions. It is no wonder then that students often find their (macro)economics “theoretical” and disjointed from the “real world”.
Based on the tenets of Modern Money Theory (MMT), this course will provide a clear lens through which you can understand the actual functioning of the modern monetary system and engage in contemporary macroeconomic debates … with a sense of confidence and a firm grasp over the subject. While orthodox academia is still to accept MMT, the debates in popular media and political discourse increasingly reveal that MMT has indeed brought about a disruptive change in how we perceive and tackle some of world’s most challenging macroeconomic issues.
Who this course is for:
- Students of economics from undergraduate to doctoral level
- Economics teachers
- Business and economic journalists
- Finance and banking professionals
- Researchers in think-tanks and NGOs
- Policymakers
- Any one interested in current macroeconomic debates and issues
Instructor
- 4.5 Instructor Rating
- 183 Reviews
- 936 Students
- 2 Courses
Sashi Sivramkrishna completed his Master’s degree in Economics with a gold medal from the University of Bombay (now Mumbai) specializing in Mathematical Economics and International Economics. He completed his Ph.D. from Cornell University, New York, USA, specializing in the economics of participation and labour-managed systems.
Apart from teaching undergraduate and graduate students over the last 25 years, Dr. Sivramkrishna has pursued research on a wide range of subjects including environmental, economic and monetary history as well as on more contemporary issues including the human development index, contract farming and self-help groups. Over the last five years, Dr. Sivramkrishna developed a keen interest in Modern Money Theory (MMT) and has carried out several country studies from an MMT perspective, including Saudi Arabia, Norway, Russia, Argentina, China, Iran, Turkey and India.
Dr. Sivramkrishna has published widely in academic journals including Business History, Journal of Post Keynesian Economics, Journal of the Economic & Social History of the Orient, Journal of International Development, Journal of Human Development & Capabilities, Global Environment, Environment & History, Real World Economics Review and the Economic & Political Weekly. He also writes for several newspapers and online publications including Moneycontrol, Newsclick, The Wire, Madras Courier and the Deccan Herald.
He is the author of two books, In Search of Stability: Economics of Money, History of the Rupee and Maximum Government, Maximum Governance: Reframing India’s Macroeconomic Discourse, both published by Manohar (New Delhi) and Routledge (New York/London).
Dr. Sivramkrishna’s is also an avid documentary filmmaker. His films have been screened at several international film festivals including the Royal Anthropological International Film Festival (UK) and Festival of Documentary Cinema (Russia).