ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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What Does CORE’s The Economy Offer Students and Teachers?

Responding to the special issue, “CORE’s Economics Textbook” (EPW, 16 June 2018), a teacher who has used the book in class explains why the book has proved useful in conveying concepts in economics and inculcating an interest in the study of social sciences at large. The Economy is not only a well-thought-out and ideologically eclectic textbook, but an interactive and dynamic teaching and learning tool that incorporates digital resources.

A Better Economics for the Indian Context

Reflecting on their experience of using The Economy to teach undergraduate students in India, two teachers of economics discuss the need for a version of the alternative textbook that addresses the needs of students who seek to understand the Indian economy. The possibilities of such a version of the textbook are discussed.

Poverty and Inequality in a ‘Principles of Economics’ Textbook

The new economics textbook The Economy, by the Curriculum Open-access Resources in Economics Team or the CORE Team is discussed from the point of view of introducing students to the topic of poverty and inequality. It is argued that mainstream textbooks adopt a framework that reduces the explanations largely to luck, choice, or ability. The new book, by paying careful attention to frictions in the economic institutions that underpin the market economy, provides an alternative framework where inequality of opportunity becomes clear and visible.

Teaching Macroeconomics

The Economy presents a new approach to teaching macroeconomics. It starts from real-life institutions of macroeconomic policy management, teaching models that engage directly with these institutions. Money and monetary policy are explained in the context of modern banking systems, while the Phillips curve is derived from the labour market model. By emphasising empirical applicability, and the linkages with microeconomics, it provides students with a more intuitive and realistic understanding than standard approaches.

Macroeconomics in The Economy

The Economy is a worthwhile initiative that seeks to teach students about the economy, as opposed to teaching economics. The macroeconomic aspects of the textbook are critically scrutinised to understand what is being taught, and how different the treatment is from extant approaches.

Game Theory in Economics

Adding to the ongoing debate on how best to understand game theory and its relevance to economics, a response toAtanu Sengupta and Abhijit Ghosh’s “Non-cooperativeGame Theory and Pay-off” (EPW, 28 January 2017).

Contemporary Macroeconomic Analysis

Looking Back at Macroeconomics 101: A Ringside View of the Global Financial Crisis from Asia in Real Time by Alok Sheel; Academic Foundation, 2015; pp 422, ₹1,295.

Fr Oswald Mathias: A Personal Tribute

A Personal Tribute SUNIL MANI Father Oswald Mathias, or Ossie as he was affectionately called is no more. He passed away, after a brief illness, on December 23, 2002. He served Loyola College, Madras as a professor of economics and as a warden of the college library with great distinction for over three decades. Needless to add Ossie belonged to that vanishing breed of extremely dedicated and conscientious teachers. These teachers did not have fancy degrees attached to their names, but their dedication, hard work and selfless devotion to their duty made up for everything that they did not have.

Economic History and Postmodern Theory

Postmodernism questions the possibility of narratives of 'progress' in the sphere of culture, a position that disagrees with economists' faith in economic progress in which cultural change plays a large role. This fundamental incompatibility has made economic history uncomfortable for historians, and led to a breach between economics and history. Can this rift be repaired?

P R Brahmananda:A Remembrance

In the history of Indian economic thought of the last 50 years, P R Brahmananda will have a secure place. His colleagues, students and readers will long remember him for what he taught them, for the help he gave them professionally and in other ways, and, in general, for the warmth and friendliness in his relations with them.

Ecological Economics

Ecological Economics Ecology and Economics: An Approach to Sustainable Development by Ramprasad Sengupta; Oxford University Press, New Delhi, pp xvii+264, Rs 495.


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