Over the last few years, the use of digital tools in macroeconomics education has significantly increased. A number of interactive applications have been produced by universities, central banks and other institutions. In such platforms, the user himself is asked to play an active role in economic decision-making where the outcome and the consequence of its action are immediately portrayed it in terms of curve shifting, line charts and numerical output.

The direct simulation of the consequences of macroeconomic choices facilitates the learning process and offers a practical representation of the discipline, of its tools and its objectives. Although easy to use and quick to understand for the broad public, even for the less specialized audience, the macroeconomic simulators so far available miss a clear discussion of the economic theory behind the construction of the model, misrepresenting the outcomes obtained by users as a univocal and thus unavoidable result.

The aim of our project is to present an innovative interactive instrument to teach macroeconomics at the undergraduate and master level. We exploit the capabilities of a digital learning platform to present and explore the controversies at the foundations of economic theory (fiscal vs monetary policy, labor market reforms etc.).

We explicitly present competing economic paradigms and their respective economic policy recommendations with interactive graphs and charts that respond and update to the (re)action of the user. Mainly, we introduce two schools of thought, namely the new-Keynesian and the Post-Keynesian school. Besides the graphic visualization of the model, the theoretical foundations of the models are presented and thoroughly described. Our work is in fact composed to two building blocks. The platform itself, where the graphs are shown and where the user has full control, and the interactive textbook, where parallel to the worded explanation, interactive applications for selected components of the full model are available (e.g. the consumption function, the Phillips curve, etc.). Several interactive scenarios will also be available (recession, financial crisis, ecological targets, etc.). In the scenarios, the user will take control over different economic policy instruments and will be guided through a set of problems that require appropriate actions.

Partners

IPE Berlin

HWR Berlin

FGW

IPE Berlin