The course aims to introduce students to the main ideas and policy proposals of the post-Keynesian school of economics. In the course, the views of its old (Kalecki, Robinson, Kaldor, Minsky) and contemporary representatives are recorded and concepts such as: active demand, fundamental uncertainty, the cost paradox, the endogeneity of money, the oligopolistic structure of markets, the monetary character of the economy, financial fragility are examined.
Based on these, the post-Keynesian perspective on the institutional character, behaviour and management of modern capitalist economies is exposed and analysed. Students will become aware of the high degree of divergence of this school of thought from the ideas of conventional economic theory and will be introduced to an alternative policy framework that is radically different from the currently dominant ones.
The topics to be covered include:
- The methodology and key features of post-Keynesian economics.
- The post-Keynesian theory of income distribution and economic growth.
- Post-Keynesian approaches in the field of fiscal, monetary and financial analysis.
- The theory of financialisation.
- The political philosophy of post-Keynesian economics.