Abstract

This article presents a slightly modified extract form my recently published booklet “Advanced Macroeconomics. Tools for Research and Teaching” (2025). This publication provides a comprehensive and accessible guide to advanced topics in Austrian macroeconomics, structured to serve both as a teaching material for a one-semester academic course and as a stimulus for further research. Rooted in the core principles of the Austrian School, it aims to provide students and instructors with a coherent framework for understanding macroeconomic phenomena. By organizing the content into twelve focused modules, the book facilitates a step-by-step engagement with complex ideas while encouraging critical inquiry and scholarly exploration. The following text is an excerpt from this book and presents some of the fundamental models of Austrian macroeconomics. The text gives an overview of the approach that serves as an introduction to the subsequent twelve modules. A series of preliminary articles about the project of capital-based macroeconomics can be found at the author’s SSRN page.

Keywords: Austrian macroeconomics, Business cycle, Monetary policy, GAM-model