The Neoclassical Perspective
Learn about the Neoclassical perspective, its building blocks, the importance of potential GDP, the role of flexible prices, the speed of macroeconomic adjustment, policy implications, Phillips Curve tradeoff, and balancing Keynesian and Neoclassical models.
Introduction to the Neoclassical Perspective
The Building Blocks of Neoclassical Analysis
The Importance of Potential GDP in the Long Run
The Role of Flexible Prices
How Fast is the Speed of Macroeconomic Adjustment?
Key Concepts and Summary
The Policy Implications of the Neoclassical Perspective
The Neoclassical Phillips Curve Tradeoff
Fighting Unemployment Or Inflation?
Fighting Recession Or Encouraging Long-term Growth?
Summary of Neoclassical Economics versus Keynesian Economics
Key Concepts and Summary
Balancing Keynesian and Neoclassical Models
Key Concepts and Summary