This book is a presentation of the study of the methods by which macroeconomics is researched, taught and communicated, and why specific theories, research strategies and teaching are preferred. A range of experts provide analysis of the concepts, ideas and principles to give a better understanding of the macroeconomics behind policies.
The present macroeconomic crisis has demonstrated that a deeper understanding of the importance of relevant macroeconomic theories and methods is wanting. Additionally, lack of methodological awareness is behind much of the disagreement within macroeconomics which, looked upon from outside, often appears incomprehensible.
The Handbook gives a structured presentation of the study of principles and procedures by which macroeconomics is researched, taught and communicated both within academia and to a wider audience, and why specific theories, research strategies and teaching are preferred. The principles of selecting theory relevant to real-world problems are the core of methodology. This book contains a broad range of arguments behind theory construction and appraisal and the consequences of these choices within the field of macroeconomics.
An international range of experts provide clear analysis of key concepts, ideas and principles to give academics, students and others a better understanding of the macroeconomics behind policy conclusions which are put forward at different levels.
Introduction: The scope and content of the Handbook I. Philosophy of
Science Perspectives I.1. Methodological Individualism and Macroeconomics
I.2. Deduction, Induction and Abduction I.3. Instrumentalism I.4 From
positivism to naturalism in macroeconomics I.5. Holism & Fallacy of
Composition I.6. Macroeconomics and Ethics II. Concepts II.1 Time in
Macroeconomics II.2 Uncertainty and Macroeconomic Methodology II.3 Path
dependency II.4 Equilibrium II.5 Causality and macroeconomics II.6
Microeconomic foundation of macroeconomics II.7 Open and closed systems II.8.
Money and Macroeconomic Methodology III. Schools of Thought III.1. Classical
Political Economy III.2. Neoclassical Macroeconomics III.3. Keyness
Macroeconomic Method III.4. Post Keynesian Methodology III.5. The Austrian
Denial of Macroeconomics III.6. What was Marxs Method, actually? III.7.
Methodological Pluralism in Macroeconomics IV. Models, Econometrics and
Measurement IV.1. Use of Mathematics in macroeconomic analysis IV.2.
Explanation and Forecasting IV.3. Using macroeconomic models in policy
practice IV.4. Traditional Methods of Macroeconometrics IV.5.
Macroeconometrics: Cointegrated VAR Method IV.6. National Accounts and
Macroeconomic Methodology V. Communicating Macroeconomics V.1. The rhetorical
perspective on macroeconomics V.2. Teaching Macroeconomic Methodology
Jesper Jespersen is professor emeritus at Roskilde University, Denmark. His research interests include the economics of Keynes and macroeconomic methodology.
Victoria Chick is professor emeritus at University College London, UK. She has written extensively on macroeconomics and the economics of Keynes.
Bert Tieben is researcher at SEO Amsterdam Economics, the Netherlands. He also teaches history of economic thought at Amsterdam University College. His research focuses on economic methodology and the history of economic thought.
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