Macroeconomics: A Modern Money Theory Perspective

MMT will change your macroeconomic worldview

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.