Author:

Keywords:

macroeconomics

Abstract:

A goal of this course is to explain the development that economics as a discipline has gone through. Starting from (neo)classical flexprice model, the crisis saw the start of Keynesian, fixprice, economics. During the 1970s, flexprice models again came on the forefront, cumulating to extreme neoclassical models where economic fluctuations is the result of continuous technical shocks. It is only recently that neo-keynesian models are on the way back. In describing this pendulum movement between flexprice and fixprice approaches, the goal of this course is to familiarize the student with key thoughts in the economics discipline.