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Eight Reasons Why Real Versus Nominal Interest Rates is the Most Important Concept in Macroeconomic Principles Courses

Author

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  • Kennedy, P.

Abstract

The purpose of this paper is to argue that the distinction between real and nominal interest rates is the most important concept taught in macroeconomics principle courses. By "important" I mean "useful for interpreting and evaluating media reporting of the macroeconomy". This presumes that a major goal of our macroeconomics principles course is to produce students capable of understanding macroeconomics encountered in the media.

Suggested Citation

  • Kennedy, P., 1998. "Eight Reasons Why Real Versus Nominal Interest Rates is the Most Important Concept in Macroeconomic Principles Courses," Discussion Papers dp98-09, Department of Economics, Simon Fraser University.
    • Handle: RePEc:sfu:sfudps:dp98-09
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    References listed on IDEAS

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    1. Peter Kennedy, 2000. "Macroeconomic Essentials, 2nd Edition: Understanding Economics in the News," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262611503, April.
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    Cited by:

    1. Gurbachan Singh, "undated". "Why is 100% Reserve Banking Inefficient?," Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi Discussion Papers 09-07, Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi, India.
    2. Mark T. Gillis & Joshua Hall, 2010. "Using The Simpsons to Improve Economic Instruction Through Policy Analysis," The American Economist, Sage Publications, vol. 55(1), pages 84-92, May.
    3. Janet T. Knoedler & Daniel A. Underwood, 2004. "La enseñanza de los Principios de Economía: propuesta para un enfoque multiparadigmático," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 6(11), pages 39-72, July-Dece.
    4. W. Lee Hansen & Michael K. Salemi & John J. Siegfried, 2002. "Use It or Lose It: Teaching Literacy in the Economics Principles Course," American Economic Review, American Economic Association, vol. 92(2), pages 463-472, May.
    5. W. Lee Hansen & Michael K. Salemi & John J. Siegfried, 2001. "Creating a Standards-Based Economics Principles Course," Vanderbilt University Department of Economics Working Papers 0105, Vanderbilt University Department of Economics.

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    More about this item

    Keywords

    INTEREST RATE ; MACROECONOMICS;

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • A00 - General Economics and Teaching - - General - - - General

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