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Rebuilding Macroeconomics sees the economy as a living system for creating and using knowledge, often embedded in goods and services. Our emphasis on knowledge makes clear that we live in a world of fundamental uncertainty. Yet far from being powerless to act, it is our ability to harness uncertainty which makes us such a resourceful species.

This shift in emphasis to knowledge creation allows us to return to the time-honoured big macroeconomic questions of creativity, agency, sustainability, coordination and institutions.

Rebuilding Macroeconomics is part of the Institute for Global Prosperity (IGP)University College London (UCL). We have a new PhD scheme in Social Macroeconomics and teach an MSc module on the New Economics of Prosperity at IGP.


  • 19 September 2024
    Location TBC
    This demands an inter-disciplinary, scientific approach which brings together alternative methodologies for considering climate macroeconomics and realistic estimates of climate damages on the economy and strengthen economic resilience to climate stressors and shocks.
  • November 2024 TBC
    Location TBC
    “Our robust finding is that research productivity is falling sharply everywhere we look” (AER, 2020) is one explanation for the productivity slowdown. We look for explanations why and look at the nature of creativity and what conditions are most conducive to greater creativity.




Image by Martin Adams

Thermoeconomics: An axiomatic theory of aggregate economic phenomena

Robert MacKay and Nick Chater | November 09, 2023

Working Paper No 67

Modern Housing Complex

The Effect of Inter-Municipal Cooperation on Social Assistance Programs: Evidence from Housing Allowances in England

Thomas Elston, Germà Bel and Han Wang | May 12, 2023

Working Paper No 66

If it ain’t broke, don’t fix it: When (and why) independent service delivery is preferable to collaborative public management

Thomas Elston, Germà Bel and Han Wang | March 29, 2023

Working Paper No 65


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