Slide 1Lecture 11 Macroeconomic Analysis 2003 Approaches to Macroeconomics Slide 2 Lecture 12 Measurement Nominal GDP Real GDP GDP deflator GDP Index Growth rate Technological…
Slide 1 Classical vs. Keynesian Economists Which model best describes our economy? Slide 2 Keynesian vs. Classical Approach Stock Market suddenly falls 25% AD 1 LRAS 1 Price…
Slide 1 The Neoclassical Growth Theory Slide 2 Solow, R., “A contribution to the theory of Economic Growth,” QJE, Feb, 1956, vol. 70, pp. 65-94. “Technical change and…