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Posts By: peter
Test Yourself: Multiple-Choice – Keynesian Aggregate Demand
Multiple Choice Test: Aggregate Demand in the Keynesian System 1) Keynes’s motivation in developing the aggregate output determination model stemmed from…
Read MoreExtract: Challenges to the Natural Rate of Unemployment
Challenges to the Natural Rate source The central premise of the natural-rate hypothesis is that the natural rate itself is independent of…
Read MoreShould We Worry About China’s Slowdown? (Sept 2015)
Should we worry about China’s slowdown? China is struggling to achieve it’s economic growth forecast of 7% for 2015 (see Table…
Read MoreActivity: Inflation Dominoes
This activity goes with the powerpoint on inflation by Oliver Pratten. The activity can also be used separately, for example, for…
Read MorePowerpoint: Outline of Inflation Slides
1. 1.4 Inflation 2. Unit 4 part 1 • The economic cycle and economic growth • Use of national income data…
Read MoreArticle: Five Economic Lessons on How to Win an Election
source I’ve spent a lot of time thinking about structural reforms and also implemented a fair number of important policy changes…
Read MoreExtract: A Keynesian coup d’etat at the Fed?
source Keynesianism has been wholly reversed. And in the most dangerous manner imaginable. To be specific, the old-style “fiscal Keynesianism” was…
Read MoreMacroeconomic Core Concept 3: Equilibrium
Our third key concept introduces the idea of macroeconomic equilibrium. Equilibrium means ‘no forces for change‘. It implies there is nothing…
Read MoreAdvanced Article: Fiscal Sustainability and Macro Policy
source Bill Mitchell In recent weeks the concept of fiscal sustainability has increasingly entered the economic debate again as public deficits rise…
Read MoreMacroeconomic Core Concept 1: The Circular Flow
Introduction In 1946 the economist AW Phillips (who invented the Phillips Curve) constructed a huge model of the British economy out…
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