Year 2020, Volume 12 , Issue 1, Pages 1 - 23 2020-06-08

The glaring failure of modern macroeconomics to predict the Global Financial Crisis, and to provide remedies for the Great Recession which followed, has led to renewed interest in alternative approaches to Macroeconomics. There is huge amount of ongoing work aimed at creating a Macroeconomics for the 21st Century. The task is of the highest priority, as failures of economic theory have led to misery for millions. Wrong measures of GDP, and cost-benefit calculation which fail to account for environmental costs, and prioritize private profits over social welfare, have created a climate catastrophe which threatens to destroy the planet. In accordance with the importance of this task, we are expanding the scope of this journal, to cover all new approaches to economics, which fall outside of the boxes of conventional macro, micro, and econometrics of the 20th Century. This article outlines seven broad categories of research directions, and four different methodological principles which fall outside the boundaries of the conventional approach, and offer promise for building a Macroeconomics for the 21st Century. We hope to invite contributions in these areas for future issues.
Political Economy, Complexity Economics, Ecological Economics, Post-Keynesian Economics, Islamic Economics
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Primary Language en
Subjects Economics
Journal Section Articles

Author: Sıdıka BAŞÇI (Primary Author)
Country: Turkey

Author: Asad ZAMAN
Institution: Pakistan Institute of Development Economics
Country: Pakistan


Publication Date : June 8, 2020

Bibtex @research article { ier747603, journal = {International Econometric Review}, issn = {1308-8793}, eissn = {1308-8815}, address = {Şairler Sokak, No:32/C, Gaziosmanpaşa, Ankara}, publisher = {Econometric Research Association}, year = {2020}, volume = {12}, pages = {1 - 23}, doi = {10.33818/ier.747603}, title = {New Directions in Macroeceonomics}, key = {cite}, author = {Başçı, Sıdıka and Zaman, Asad} }
APA Başçı, S , Zaman, A . (2020). New Directions in Macroeceonomics . International Econometric Review , 12 (1) , 1-23 . DOI: 10.33818/ier.747603
MLA Başçı, S , Zaman, A . "New Directions in Macroeceonomics" . International Econometric Review 12 (2020 ): 1-23 <>
Chicago Başçı, S , Zaman, A . "New Directions in Macroeceonomics". International Econometric Review 12 (2020 ): 1-23
RIS TY - JOUR T1 - New Directions in Macroeceonomics AU - Sıdıka Başçı , Asad Zaman Y1 - 2020 PY - 2020 N1 - doi: 10.33818/ier.747603 DO - 10.33818/ier.747603 T2 - International Econometric Review JF - Journal JO - JOR SP - 1 EP - 23 VL - 12 IS - 1 SN - 1308-8793-1308-8815 M3 - doi: 10.33818/ier.747603 UR - Y2 - 2020 ER -
EndNote %0 International Econometric Review New Directions in Macroeceonomics %A Sıdıka Başçı , Asad Zaman %T New Directions in Macroeceonomics %D 2020 %J International Econometric Review %P 1308-8793-1308-8815 %V 12 %N 1 %R doi: 10.33818/ier.747603 %U 10.33818/ier.747603
ISNAD Başçı, Sıdıka , Zaman, Asad . "New Directions in Macroeceonomics". International Econometric Review 12 / 1 (June 2020): 1-23 .
AMA Başçı S , Zaman A . New Directions in Macroeceonomics. IER. 2020; 12(1): 1-23.
Vancouver Başçı S , Zaman A . New Directions in Macroeceonomics. International Econometric Review. 2020; 12(1): 1-23.