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Critical Thinking and Applied Political Economy: Towards Understanding the Social Construction of Reality

Abstract This article provides a design template to construct a macroeconomics course using a multiparadigmatic approach using discovery based learning. Students use alternative paradigms–Classical, Keynesian, Institutionalist, Marxist, Monetarist, Schumpterian–to explore forces explaining the business cycle. They access and manipulate primary economic data to evaluate distributional outcomes using applied political economy; the use of alternative paradigms to systematically trace out how economic science is used to support policies directing the distribution of income. The course capstone applies economic paradigms and data analysis to evaluate policy propositions related to contemporary macroeconomic issues.