Università Roma Tre

A. Alternative approaches to the theory of value and distribution
Classical analysis: the notion of surplus - social forces determining the real wage
neoclassical analysis: the role of factor substitution
Euler's theorem. Reswitching and reverse capital deepening

B. theories of employment in the two approaches
Keynes and effective demand: compatibility and incompatibility
the neoclassical synthesis
The present state of mainstream economics. The imperfectionist argument

C. Empirical analysis
mainstream empirics of growth: the theoretical bases (Solow 1957)
growth accounting
The production function: the problem of aggregation.
The accounting identity and the dual problem
labour productivity: an alternative analysis
the wage-productivity nexus in the Classical-Keynesian approach
public debt in a classical-Keynesian perspective: the redefinition of sustainability

All material is provided to students on the moodle website