Model-theoretic Foundations of Controversies in Economic Policy

(09/2016 – 04/2019)
The project is managed by Prof. Dr. Eckhard Hein and Prof. Dr. Achim Truger, research fellows: Alessandro Bramucci, Franz Prante.

About

With the project “Model-theoretic Foundations of Controversies in Economic Policy” we have created a didactic tool to present and simulate in an interactive way at the computer macroeconomic theories from a multiparadigmatic perspective.

Our simulators and the accompanying online written resources present basic macroeconomic concepts for the closed economy from the point of view of two of the most promiment schools of thought, the new Keynesian and the post Keynesian school. In the scenarios, the users take over the control of various economic policy instruments and are confronted with a number of problems to which they must respond with appropriate measures. Through an interactive process, the user can experience the different implications of economic policy from the different school perspectives and how these ca be derived from a change in the assumptions of the model implied by each paradigm. A transition between the model worlds is made possible. A comprehensive and open understanding of the possible solution to different macroeconomic challenges is provided.

The project results contribute to the dissemination of pluralism in economic education and teaching, with a focus on bachelor programmes. However, the project is aimed at all those who have an interest in understanding the problems of macroeconomics from an open and plural perspective.

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