Philosophy/Economics 524: Philosophy of Economics Spring 2012

Discussion Questions

1/23, Backhouse, ch. 2-3, Backhouse, ch. 4-5, Rationality, Consumer Choice, Production, Introduction, Hume, Popper, Friedman, Mill, BK-6,7-Romer, Samuelson, Blinder, ISLM, NewClassicalMacro, deLong, Krugman, Ideology, Rabin, Hoover on Microfoundations, Vernon Smith, Fehr-Gachter, Buchanan & Vanberg, Normative Economics 1, Hausman&McPherson

Revised Schedule: March 20-April 10

Tuesday, March 20: Keynesian Macro-economics

• Paul Samuelson, Economics, pp. 220-223; 228-232; 234-246
• Alan Blinder, “Keynesian Economics”

Thursday, March 22: Keynesian Macro-economics: IS-LM Term papers due

• Paul Krugman “IS-LMentary”
• David Roemer, “The IS-MP Model”

Tuesday, March 27: The New-classical Critique of Keynesian Macroeconomics

• Robert Lucas and Thomas Sergent, "After Keynesian Macroeconomics" CR
• Kevin Hoover, "New Classical Macroeconomics" CR

Wednesday, March 28: Dinner Meeting

• Gary Gorton, “Questions and Answers about the Financial Crisis”
• Movie: “Inside Job”

Thursday, March 29. No class

Tuesday, April 10: Understanding the “Lesser Depression”

• Brad deLong, “Understanding the Lesser Depression”