The recent financial crisis brought about dramatic changes in the way that the Federal Reserve, the nation's central bank, conducts monetary policy. One challenge for high school educators going forward will be to strike a balance between the teaching of traditional monetary policy and the teaching of the monetary policy used during these…

In this article, the author describes conceptually how to think about the dramatic changes in monetary policy since the sub-prime crisis of August 2007. He also discusses how to incorporate these changes and related economic concepts in the teaching of an undergraduate class in macroeconomics. A distinction is made between conventional and…

The Federal Reserve (the Fed) is the central bank of the United States. It has a congressional mandate to promote maximum sustainable employment and price stability. In normal times, the Fed seeks to achieve this mandate by setting the position or "stance" of monetary policy, primarily by managing the level of short-term interest rates.…

The standard workhorse models of monetary policy now commonly in use, both for teaching macro-economics to students and for supporting policymaking within many central banks, are incapable of incorporating the most widely accepted accounts of how the 2007-9 financial crisis occurred and are incapable too of analyzing the actions that monetary…

The relevance of this research is caused by the need of strengthening a role of monetary regulators to prevent financial bubbles in the financial markets. The aim of the article is the analysis of a problem of crisis phenomena in the markets of financial assets owing to an inadequate growth of their cost, owing to subjective reasons. The leading…

From the perspective of peripheralised countries, internationalisation is imbalanced and hegemonic, as it is predominantly constructed by universities in the Global North. We explore the imbalanced internationalisation from the cases of sub-Saharan Africa through the dominance of Western knowledge systems and brain drain; China through isolation…

The teacher shortage in the United States is an increasingly recognized but still poorly understood crisis. Much attention has focused on the size of the shortage (about 110,000 teachers in the 2017-2018 school year, by one estimate), its monetary costs, and the negative effects of the shortage on students, teachers, and the public education…

This article considers a conflated ontological space where national projections named Koreanness are conjoined through national educational reform discourses associated with "excellence" and "equality." It focuses on the shifting educational reform narratives that made appeals to notions of crisis before and after the IMF…

This paper examines Korea's employment dynamics and analyzes how adverse impacts could be mitigated during the recent economic crisis in comparison with the 1997 to 1998 Asian crisis. A clear lesson is that policies to mitigate adverse impacts of financial crisis on the macroeconomic level should be given priority for preserving employment. In…

Ghana's recent "Education Reform 2007" envisions a system that strives to achieve both domestic and internationally-oriented goals emanating (1) from the Education for All (EFA) initiative, (2) from the UN Convention on the Rights of the Child and (3) from global trends in education. Emboldened by the implementation of…

All of the authors seem to share the perception that one can no longer expect much from macroeconomic policies. The authors of this paper share this opinion, but this should not be interpreted as the skeptical view that macroeconomic policies are ineffective on employment. They saw from the Korea's two crises how contrasting outcomes could result…

Central banking in the United States has a long and controversial history dating back to the earliest days of the republic. One of the most widely presented arguments against a central bank has been that the U.S. Constitution does not expressly grant the federal government power to charter a bank. Recently, this issue has received new scrutiny in…

The lessons learned from the recent financial crisis should significantly reshape the economics profession's thinking, including, importantly, what we teach our students. Five such lessons are that we live in a monetary economy and therefore aggregate demand and policies that affect aggregate demand are determinants of real economic outcomes; that…

It is important to realize that the economic climate since the banking crisis in 2007 has seen the rate of income and wealth inequality accelerate. This has reached the point where concerns for political, economic, and social stability have been raised by those representing the pillars and foundations of institutions that represent the market…

The promise, embraced by governments around the world, is that the knowledge economy will provide knowledge workers with a degree of autonomy and permission to think which enables them to be creative and to attract high incomes. What credence should we give to this promise? The current economic crisis is provoking a reappraisal of both economic…