TAILIEUCHUNG - Lecture Macroeconomics: Lecture 21 - Prof. Dr.Qaisar Abbas

Lecture Macroeconomics - Lecture 21: Consumption - I. This chapter presents the following content: John Maynard Keynes: consumption and current income; Irving Fisher and Intertemporal Choice; deriving the intertemporal budget constraint;. | Review of the previous lecture 1. Real Business Cycle theory assumes perfect flexibility of wages and prices shows how fluctuations arise in response to productivity shocks the fluctuations are optimal given the shocks 2. Points of controversy in RBC theory intertemporal substitution of labor the importance of technology shocks the neutrality of money the flexibility of prices and wages 0 Review of the previous lecture 3. New Keynesian economics accepts the traditional model of aggregate demand and supply attempts to explain the stickiness of wages and prices with microeconomic analysis, including menu costs coordination failure staggering of wages and prices 1 Lecture 21 Consumption-I Instructor: Prof. Dr. Qaisar Abbas 2 This chapter sets up the IS-LM model, which chapter 11 then uses extensively to analyze the effects of policies and economic shocks. This chapter also introduces students to the Keynesian Cross and Liquidity Preference models, which underlie the IS curve and LM .

• Kinh tế học
• Lecture Macroeconomics
• Principles of microeconomics
• Economic models
• Science of macroeconomics
• Tools of microeconomics
• Microeconomic transactions
• Bài giảng Kinh tế vĩ mô
• Kinh tế vĩ mô
• Data of macroeconomics
• Unemployment rate
• Inflation rate
• Natural rate of unemployment
• Consumer price index
• National income
• Agriculture sector
• Agricultural policies
• Economic fluctuations
• Macroeconomic policy
• Business cycle theory