PRAGOTI

“In more than 30 years of teaching introductory macroeconomics, says Alan Blinder of Princeton University, he has never seen interest as high as it was last year... the crisis has also highlighted flaws in the existing macroeconomics curriculum... Courses in many leading universities are already being amended... Discussion of the “liquidity trap,” in which standard easing of monetary policy may cease to have any effect, had fallen out of vogue in undergraduate courses but seems to be back with a vengeance. Asset-price bubbles are also gaining more prominence.”

• excerpts from the article titled “Revise and Resubmit”