Homepage » Undergraduate Studies » Degree Programme Courses » Free Elective Courses » Department of Economics » DIVISION I Political Economy » ECO469-PostKeynesian Economics

Course Description

Course: Post Keynesian Economics

Code: ECO469

Semester: B

Tutor: 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 in Greek:

Keynes J. (1936) The general theory of Employment, Interest and Money, Athens Papazisis

Argitis G. and Koratzanis N. (2011) The Economic Policy of Stabilization in the EMU, Athens Papazisis