About this course

Demystify macroeconomic principles and terminology and discover how Modern Monetary Theory (MMT) provides explanations for some of the world's most troubling financial concerns.

  • Thinking in a macroeconomic way. What should macroeconomic theory be able to explain? Measurement frameworks.
  • What is Modern Monetary Theory and what are its implications? Why is it the future of macroeconomics?
  • The role of fiscal policy. The path to full employment and price stability. Case studies in unemployment and hyperinflation.
  • Monetary policy design and the role of central banks. How does the banking system operate?
  • Exchange rate systems and international trade. Global financial markets and the State - who is in charge?
  • Policy setting in crises: the challenges of climate change and the pandemic.

What you'll learn

  • An entry level understanding of the way modern monetary systems operate.
  • An enhanced understanding of the fiscal and monetary policy options available to governments.
  • An awareness of why the standard economic statements in the media about government deficits and debt distort our understanding of the actual constraints that government spending faces.
  • Ways to assess government policy options, for example, in dealing with the pandemic.
  • An appreciation of the issues involved in balancing demands for growth and environmental constraints.
Video

Modern Monetary Theory

Meet the instructors

Emeritus Professor Bill Mitchell

Emeritus Professor Bill Mitchell

Professor William Mitchell holds the Chair in Economics and is the Director of the Centre of Full Employment and Equity (CofFEE), an official research centre at the University of Newcastle. He is also the Docent Professor of Global Political Economy at the University of Helsinki, Finland. He is one of the co-founders of Modern Monetary Theory.

Related degrees

Master ofApplied Finance

The Master of Applied Finance focuses on developing a deeper knowledge and skills relating to the operation of financial markets, financial risk management and corporate treasury strategies.

Learn more

Master ofBusiness Administration (MBA)

The Master of Business Administration (MBA) is designed to provide students with a range of analytic, strategic and leadership skills which will prepare them for increasingly competitive careers in business management in the corporate and public sectors.

Learn more

Master ofHealth Economics, Management and Policy

The Master of Health Economics, Management and Policy offers a practical toolkit for healthcare sector leaders, policy makers and analysts. It provides a mixed-skills portfolio comprising leadership and management capabilities with analytical and conceptual knowledge.

Learn more

Master ofLaws (LLM)

The Master of Laws (LLM) is designed to expand your knowledge and deepen your understanding of a specialist area of law. The LLM is a flexible program that offers a combination of online and intensive courses.

Learn more

Master ofSocial Change and Development

The Master of Social Change and Development will prepare you to understand the implications of wider social and political changes at a global level which affect local conditions and capacities.

Learn more