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SUMMARY:How to do macroeconomics in an age of uncertainty: Methodology &am
 p\; Theory (Lecture 1) - Professor Jesper Jespersen\, Department of Societ
 y and Globalisation\, University of Roskilde\, Denmark
DTSTART:20131023T180000Z
DTEND:20131023T200000Z
UID:TALK47353@talks.cam.ac.uk
CONTACT:Akanksha Bhat
DESCRIPTION:Keynes’s name has resumed public recognition as a consequenc
 e of the recent economic crisis combined with apparent confusion on what e
 conomic policies are useful to overcome the growth-crisis.\nThere are many
  similarities to the 1930s\, where Keynes wrote his General Theory of Empl
 oyment\, Interest and Money\, which changed the way macroeconomics was und
 erstood for quite a number of years. But the impact petered away after the
  crises of the 1970s and nearly disappeared in the wake of the methodology
  of new classical economics.\n\nThe prolonged crisis and the changed socia
 l and institutional frameworks call for renewed understanding of macroecon
 omics. Professor Jespersen’s claim is that the methodology of Keynes is 
 still relevant and not yet fully understood. Keynes introduced the concept
  of ‘uncertainty’ into macroeconomic analysis. For that purpose he sea
 rched for a new methodology which could capture the importance of uncertai
 nty (at the micro and macro level) for the making of a realistic analysis 
 of macroeconomic development in the past\, the present and for the future.
 \n\nLecture one will begin with an analysis of macroeconomic development i
 n the past and how can it be explained? In this lecture the importance of 
 methodology and how to choose a relevant model\, where uncertainty is repr
 esented\, is discussed.
LOCATION:Little Hall\, Sidgwick Site
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