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Seeking Guidance for Macroeconomics

 
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Gab Godin



Joined: 03 Apr 2009
Posts: 1
Location: University of Ottawa, Canada

PostPosted: Fri Apr 03, 2009 4:11 pm    Post subject: Seeking Guidance for Macroeconomics Reply with quote

Hi, I'm a first year university student in macroeconomics. I need to write a 50 pages paper on any macroeconomic subject for my Introduction to Macroeconomics class. I'm a bit lost as to where to start and what subject to pick.

So, I would like to get some suggestions on what macroeconomics subjects are good to tackle for a very general 50 pages paper written by a first year student.

Thanks!
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Leonie Humphreys



Joined: 23 Sep 2008
Posts: 217
Location: West Dorset, UK

PostPosted: Sat Apr 04, 2009 7:57 am    Post subject: Reply with quote

Hi Gab,

Welcome to the Forum!

I am not sure how much help I can be. This is really a discussion forum. I will need to get out a textbook myself to check out macroeconomics. The particular interest on this forum concerns ideas related to economic reforms directed towards justice and sustainability. I am not sure how these aims fit in with the teaching of conventional macroeconomics, but I will look into it and get back to you.

If anyone else has some tips for Gab please add to this topic.

Best wishes,

Leonie
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Richard Glover



Joined: 29 Sep 2008
Posts: 185
Location: Ealing, London, UK

PostPosted: Wed Jun 24, 2009 2:35 pm    Post subject: Sustainability and the Circular Flow Model Reply with quote

Underpinning the study of macroeconomics is the circular flow model and the representative firm. If you throw in the prisoner's delemna and a few other ideas, much of current policy can be explained.

The circular flow model shows households and firms, and the monetary flows between them. Also shown are flows of the real economy such as goods and services, and factors of production.

Government is added with the flows of taxation and public goods and services.

The rest of the world is added with imports and exports.

All of the above forms a balance, self sustaining system that could last indefinitely. However, the concept of savings and investments is then introduced, notably with the two being in balance. Now this appears to destroy the sense of equalibrium in the model and makes it an ever-expanding one. If savings were matched by withdrawals, it might be sustainable, but that is not how the model is presented.

Also, households saving to invest in firms is a nice idea, but the reality is that most households are in debt to fund mortgages for most of the time. Are these savings?

For a study of macroeconomics, it would be of great value to explore the issue of sustainability based on the circular flow model, including the concepts of interest, debt, land as an asset, and the (limited) free issue of natural resources by mother nature.

If you need help by way of proofreading, further prompts etc, we will be very happy to oblige.

Good luck!
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