This book aims to showcase and advance recent debates over the extent to which undergraduate macroeconomics teaching models adequately reflect the latest developments in the field. It contains 16 essays on topics including the 3-equation New Consensus model, extensions and alternatives to this model, and endogenous money and finance.

List of Figures and Appendices Notes on Contributors Foreword; C.E.Walsh Macroeconomic Theory and Macroeconomic Pedagogy: An Introduction; G.Fontana& M.Setterfield PART I: THE 3-EQUATION NEW CONSENSUS MACROECONOMICS MODEL Teaching Intermediate Macroeconomics Using the 3-Equation Model; W.Carlin& D.Soskice Bringing Undergraduate Macroeconomics Teaching Up to Date; S.Wren-Lewis Monetary Policy Analysis: An Undergraduate Toolkit; J.S.Chadha Rescuing the LM Curve (and the Money Market) in a Modern Macro Course; R.Tamborini The New Consensus in Macroeconomics: A Critical Appraisal; P.Arestis Complexity and Macro Pedagogy: The Complexity Vision as a Bridge between Graduate and Undergraduate Macro; D.Colander& C.Rothschild PART II: AN ENDOGENOUS-MONEY THEORY AMENDMENT OF THE NEW CONSENSUS MACROECONOMICS MODEL Teaching Macroeconomics When the Endogeneity of Money is Taken Seriously; M.Sawyer A Simple (and Teachable) Macroeconomic Model with Endogenous Money; G.Fontana& M.Setterfield Money and Banking in a Realistic Macro-Model; P.Howells PART III: FINANCIAL FRAGILITY, LIQUIDITY PREFERENCE, UNEMPLOYMENT HYSTERESIS AND OTHER AMENDMENTS Taming the New Consensus: Hysteresis and Some Other Post-Keynesian Amendments; M.Lavoie Minsky Meet Wicksell: Using the Wicksellian Model to Understand the Twenty-First Century Business Cycle; C.L.Weise& R.J.Barbera Macroeconomics Meets Hyman P. Minsky: The Financial Theory of Investment; L.Randall Wray& É.Tymoigne PART IV: THE REAL INTEREST RATE, INCOME DISTRIBUTION, AND ALTERNATIVE VIEWS OF STABILIZATION POLICIES Teaching the New Consensus Model of 'Modern Monetary Economics' from a Critical Perspective: Pedagogical Issues; J.Smithin A Post Keynesian Alternative to the New Consensus Model; E.Hein& E.Stockhammer The Central Banker as Regulator of Conflict: A 'Reversed' Reading of the Solow and New Consensus Model; E.Brancaccio Institutions, Expectations and Aggregate Demand; J.Ferreiro& F.Serrano