Classical Macroeconomics
What are the ideas of Classical Macroeconomics
Keynesian Macroeconomics
What are the Ideas of Keynesian Macroeconomics
What was Keynes theory
Monetarist Macroeconomics
What are the ideas of Monetarist Macroeconomics
An example of Monetarist Ideas
Today's Consensus
What is the Classical Part of Today's Consensus
What is the Keynesian Part of Today's Consensus
What is the Monetarist Part of Today's Consensus
How Can Monetarist Ideas help economy
Today's Consensus view on long term vs. short term
Potential GDP
Production Function
PF explained
What happens at the top of PF
Diminishing Returns
Why do Diminishing Returns happen
What are three factors of the Labor Market
Demand For Labor = (What decision maker)
Quantity of Labor Demanded
Demand for labor
What happens to Quantity demanded when wage rate is lowered
Give me an example of Demand for Labor
Supply of Labor = (What decision makers)
Quantity of Labor Supplied
Supply of Labor
What are the two reasons why Labor supplied increases when real wage rate increases
Hours Per Person
Labor Force Participation
Factors of Labor Supplied
Labor Market Equilibrium
Natural Unemployment Rate
What are the two causes of unemployment
Job Search
What three things do job search depend on
Demographic Change (Job Search)
Unemployment Benefits (Job Search)
Structural Change ( Job Search)
Job Rationing
Efficiency Wage (Job Rationing)
Union Wage (Job Rationing)
Minimum Wage (Job Rationing)
What does Job rationing do to unemployment
