Posted by: Dirk | October 17, 2014

Piketty: “There is no economic science” (but there could be!)

I am writing a grant application which would allow me to teach a MOOC (massive open online course) on the bread & butter of (monetary) economics: how does the monetary system function? It is all quite basic stuff, but I am very much afraid that not many colleagues in Germany could explain to their students how money is created, how banks clear their accounts at the end of the day, how the government spends or how the fiscal is related to the monetary. I am glad to see that Thomas Piketty speaks out in favor of my view of economics: providing understanding of elementary economics before moving on (if one is so inclined) to mathematical models that are more abstract.


  1. The MOOC sounds great, who will be hosting it?

    • The MOOC will be costly in terms of time and money, and I can only answer that question after I have received funding. I have not selected a platform yet.

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