- Outline proposal Je-S guidance available and call opens – 27 June 2016
- Town meeting – 28 June 2016
- Closing date for outline proposals – 16.00 on 20 September 2016
- Call open for full proposals of shortlisted applicants – October 2016
- Closing date for full proposals – November/December 2016
- Launch of Network – April/May 2017
£4.6 million of funding for non-mainstream research: Town Meeting: London, 28 June 2016: proposals invited
Registration for the event closes tomorrow at 23.59
“Proposals will be invited to lead, develop and administer a single Network Plus, with funding available of up to £4.6 million (100 per cent fEC) over 48 months, . . . “
Attendance at the event is not a requirement for submitting a proposal, but is strongly advised.
Primary link: Understanding the Macroeconomy Network Plus
Longstanding criticisms of the economics profession, and particularly of the dominant paradigm in academic macroeconomics, were given impetus by the perceived failure of economists to anticipate the 2008 financial crisis and subsequent recession, and the apparently limited relevance of mainstream theory to the subsequent policy debate. Some critics have focused on the perceived theoretical deficiencies of the dominant paradigm in academic macroeconomics and the alleged ‘monoculture’ that this dominance has resulted in. Others have voiced more general concerns about the development of the discipline, in particular the dominance of a mathematical, deductive approach, lack of historical context, an alleged failure to address real-world institutional and policy constraints and an apparent insularity and disinclination to engage with other disciplines.
Although perspectives across the economics profession and the policy and business community naturally vary, consultations by the ESRC identified a consensus that there was some substance to many, if not all, of the issues that have been highlighted by critics of mainstream macroeconomics. Since there is a danger that they may not be properly addressed in an acceptable timeframe through the ESRC’s responsive mode funding mechanisms, a targeted new initiative in this area is warranted. Ideally, this will seek to address two objectives: first, to open up the study of the macroeconomy to new methodological approaches and insights offered both from relevant areas of economics and from other disciplines which can add value; and second, to help bridge a perceived dislocation between the academic macroeconomics and policy and practice. (Emphasis added)
The ESRC will be holding an event for potential applicants to learn more about the objectives and expectations of the call in London on the morning of 28 June 2016.
Please complete the registration form to apply for a place at the event. As places are limited we are restricting representation to no more than two delegates per institution or organisation. Individuals are encouraged to coordinate across their organisations before registering for the event.
Registration for the event will close at 23.59 on 15 June 2016, and places at the event will be confirmed on 20 June 2016.
Please note: attendance at the event is not a requirement for submitting a proposal, but is strongly advised.
Understanding the Macroeconomy Network Plus – Economic and Social Research Council
Provisional key dates