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Economic theories and models are not stagnant and adjust to reflect changing conditions. What are your observations on the evolution of macroeconomic...
Economic theories and models are not stagnant and adjust to reflect changing conditions. What are your observations on the evolution of macroeconomic theory and models over time?
The Crash Course video linked below provides a quick overview of the evolution of economic models.
After listening to it and reading Chapter 33 of your text, discuss the Great Modernization consensus (or New Neoclassical Synthesis) and how it draws on the various schools of thoughts. While agreement has been reached in some areas, what areas of debate over monetary and fiscal policies remain?
Economic Schools of Thought: Crash Course Economics #14 (Links to an external site.)Links to an external site.
