Jan 21, 2013

In case you are writing an economics textbook

Some advice from Poul Thois Madsen on how to address the financial crisis:
  • Reorganize the existing presentation in order to make the financial crisis fit better into the general presentation. 
  • Try to handle the financial crisis theoretically, either by applying already existing concepts and theories, developing existing concepts and theories, or by introducing new concepts and theories.
  • Discuss the underlying theoretical reasons as to why economists disagree on possible causes of, remedies for and economic and theoretical consequences of the financial crisis.
  • Analyze the financial crisis in the light of previous financial crises. 
  • Devote at least an entire chapter to financial crises and link it explicitly to the chapters before and after. 
  • Apply the existing conceptual framework when presenting and analyzing the general changes in monetary and fiscal policy (what is being attempted by applying these policies and what are the effects to be expected?). 
  • Discuss possible long-term effects of the financial crisis including a discussion on possible ways out of the crisis.

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