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A British trader, Navinder Singh Sarao (right), faces extradition to the US to answer 22 criminal counts, including fraud and market manipulation. The US Department of Justice claims he significantly contributed to the “flash crash” that occurred on 6 May 2010, in which the…
Last month the University of Cape Town (UCT), South Africa, launched the first CORE course to be taught in Africa. We asked Reza Daniels (RD), a senior lecturer in the School of Economics at UCT, about how his students (above) were reacting to the…
Project director Wendy Carlin was interviewed by the Analysis programme on Radio 4 this week to discuss a subject that would have been inconceivable 10 years ago: the legacy of macroeconomist Hyman Minsky, and why it matters. You can listen to it on the…
In a new post at Project Syndicate, Prof Paul Seabright (right) of the Toulouse School of Economics focuses on the central problem of teaching introductory microeconomics: how to reconcile elegance and clarity with reality. We should do more, he says, to show undergraduates that realistic…
Since the launch of the CORE curriculum project, the amount of interest in how economics is taught has surprised (in a good way) even our team. Some of the most authoritative names in academic economics have joined the debate. The argument made by three…
Juliet Schor is Professor of Sociology at Boston College, MA, US. This is the text of her address to the INET CORE Project workshop on 11 November 2013. Forty years ago a group of engineers and scientists at MIT began warning about the impacts…
Macroeconomic models are invaluable. They enable us to reduce complicated phenomena to manageable proportions and reason systematically. If you doubt this, try thinking through the impact of a change in monetary or fiscal policy without referring in your head to some sort of model…
In part, therefore, my purpose today is to consider a piece of intellectual history: the strange amnesia of modern macroeconomics. But also to reach some conclusions about the policies needed to avoid a repeat of the 2008 crisis and to secure greater financial stability,…
