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Macroeconomics Models & Issues

Two Views of Macroeconomics. Mr Keynes and the Classics. Concise Encyclopedia of Economics. Classical Models - The Role of Aggregate Supply. A Simple Classical Model. Keynesian Models - The Role of Aggregate Demand. The Simple Keynesian Model. The IS/LM Model with Flexible Prices. A Simple IS/MP Model. Challenges, Responses, and Extensions - A Historical View. The Natural Rate of Unemployment. The New Classical Economics. International Linkages - The Mundell-Fleming Model. Inflation and Price Indices.

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Macroeconomics Models & Issues | econmicro.com Reviews

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Two Views of Macroeconomics. Mr Keynes and the Classics. Concise Encyclopedia of Economics. Classical Models - The Role of Aggregate Supply. A Simple Classical Model. Keynesian Models - The Role of Aggregate Demand. The Simple Keynesian Model. The IS/LM Model with Flexible Prices. A Simple IS/MP Model. Challenges, Responses, and Extensions - A Historical View. The Natural Rate of Unemployment. The New Classical Economics. International Linkages - The Mundell-Fleming Model. Inflation and Price Indices.

<META> KEYWORDS

1 introduction

2 welcome

3 econmodel

4 wikipedia

5 economics roundtable

6 overview

7 the classical model

8 the is/lm model

9 the is/mp model

10 the great depression

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introduction,welcome,econmodel,wikipedia,economics roundtable,overview,the classical model,the is/lm model,the is/mp model,the great depression,the phillips curve,the keynesian heyday,crowding out,monetarism,real business cycles,supply side economics

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Macroeconomics Models & Issues | econmicro.com Reviews

https://econmicro.com

Two Views of Macroeconomics. Mr Keynes and the Classics. Concise Encyclopedia of Economics. Classical Models - The Role of Aggregate Supply. A Simple Classical Model. Keynesian Models - The Role of Aggregate Demand. The Simple Keynesian Model. The IS/LM Model with Flexible Prices. A Simple IS/MP Model. Challenges, Responses, and Extensions - A Historical View. The Natural Rate of Unemployment. The New Classical Economics. International Linkages - The Mundell-Fleming Model. Inflation and Price Indices.

INTERNAL PAGES

econmicro.com

1

The Classical Model

http://www.econmicro.com/classical_model.htm

This page describes the. The Production Function and the Demand for Labor. Y is taken to be a function of capital. N (The notation for labor suggests the number of hours or the number of workers.) In the short run the capital stock is taken to be fixed at. The marginal product of labor is dY/dN = MPN. Which should be a decreasing function of Y. A profit-maximizing firm should hire additional workers if P MPN. P MPN = W. Or, equivalently, MPN = W/P. Curve thus is the demand for labor. The Supply of Labor.

2

Phillips Curve

http://www.econmicro.com/phillips_curve.htm

In 1959, A. W. Phillips published a paper describing an apparent tradeoff between inflation and unemployment for the United Kingdom for 1861 to 1957. Such a negative relation suggests support for fluctuations driven by demand shocks. William R. Parke, The Econ Review. Kevin D. Hoover,. Concise Encyclopedia of Economics. The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861-1957. Economica. 1958), 283-99, A. W. H. Phillips. Inflation and Price Indices.

3

Macroeconomic Models & Issues

http://www.econmicro.com/challenges.htm

Challenges, Responses, and Extensions - A Historical View. The first two sections of this web site attempt to lay out the basic structure of the classical and Keynesian approaches to macroeconomics. Given this background, you should be prepared to consider the evolution of thinking in macroeconomics. That is what we take up here. Challenge to mercantilism. Figuring out marginals. Same stuff undergraduates face now. The Era of Business Cycles Begins. The election of John Kennedy in 1960 opened the way for...

4

Macroeconomic Models & Issues

http://www.econmicro.com/keynesian_models.htm

Keynesian Models - The Role of Aggregate Demand. John Maynard Keynes was a very pragmatic economist writing in the context of the Great Depression. Many theories have been advanced in his name. Whether he would support any or all of them remains an open issue. Here, the distinguishing feature of a Keynesian model is taken to be an emphasis on aggregate demand shocks as the cause of business cycles. The Simple Keynesian Model. This version of the IS/LM Model is central to the discussion of Keynesian model...

5

The Great Depression

http://www.econmicro.com/great_depression.htm

The Great Depression accelerated the growth of macroeconomics as a distinct field in economics. Why did it last so long? Fear of investment being nationalized. Robert J. Samuelson, Concise Encyclopedia of Economics.

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Macroeconomics Models & Issues

Two Views of Macroeconomics. Mr Keynes and the Classics. Concise Encyclopedia of Economics. Classical Models - The Role of Aggregate Supply. A Simple Classical Model. Keynesian Models - The Role of Aggregate Demand. The Simple Keynesian Model. The IS/LM Model with Flexible Prices. A Simple IS/MP Model. Challenges, Responses, and Extensions - A Historical View. The Natural Rate of Unemployment. The New Classical Economics. International Linkages - The Mundell-Fleming Model. Inflation and Price Indices.

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