Course Description
Course: Post Keynesian Economics
Code: ECO469
Semester: A'
Instructor: G. Argeitis
Aims and Objectives:
The course aims to present fundamental concepts and ideas developed by Keynes, Kalecki, Minsky and to consider the way their integration has shaped the foundations for the development of a separate, heterodox school of economics that is known as ‘Post Keynesian economics’. The course is divided into four sections. The first section focuses attention on Keynes’s philosophy, methodology and monetary theory. Emphasis is paid to the concepts of uncertainty, money and effective demand. The second section concentrates on Kalecki’s political economy considering his analysis of prices, income distribution, effective demand, finance and economic growth. Section three considers Minsky’s ‘financial keynesianism’ and in particular the importance of the ‘financial instability hypothesis’ in modern capitalist economies. In the fourth section we contrast the Post Keynesian economics with orthodox schools of macroeconomics and apply the criterion of realism to assess their relevance to help us to understand modern capitalism.
Course books:
Lavoie, M. (2018), Εισαγώγη στη Μετα-Κεϋνσιανή οικονομική θεωρία, Εκδόσεις Τυπωθήτω-Δαρδανός
Αργείτης, Γ. «Μετα-Κεϋνσιανή οικονομική θεωρία και πολιτική», πανεπιστημιακές σημειώσεις στο E-Class
Lavoie M. (2014). Post-Keynesian economics. New foundations, Edward Elgar, Cheltenham,
Keynes, J. (1936). Η Γενική Θεωρία της Απασχόλησης, του Τόκου και του Χρήματος, Εκδόσεις Παπαζήση.
Αργείτης, Γ. και Κορατζάνης, Α. (2011). Οικονομική Πολιτική Σταθεροποίησης και Αστάθεια στην ΟΝΕ, Εκδόσεις Παπαζήση.