Reading:
Chapter 5: https://open.lib.umn.edu/macroeconomics/part/chapter-5-macroeconomics-the-big-picture/
Chapter 17: https://open.lib.umn.edu/macroeconomics/part/chapter-17-a-brief-history-of-macroeconomic-thought-and-policy/
Prepare a paper and summarize key developments in macroeconomic history.
Specifically, what are the similarities and differences between Keynesian and classical economics?
How does each handle issues of unemployment?
What new developments starting in the 1980s have changed macroeconomic thought?
Cite references to material that you use in preparing the essay.
The following criteria will be used to assess your papers:
Identifies similarities and differences in Keynesian and classical economic thought.
Describes how Keynesian and classical economists address the issue of unemployment.
Accurately describes new developments since the 1980s.
Organization and style of the essay.
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