Macroeconomics since the Bretton Woods era

From the 1970s onwards Friedman's monetarist critique of Keynesian macroeconomics formed the starting point for a number of trends in macroeconomic theory opposed to the idea that government intervention can or should stabilize the economy. New Classical economics based on the foundation of classical economics. Lucas also popularized the idea of rational expectations, which was used as the basis for several new classical theories including the Policy Ineffectiveness Proposition.

The standard model for new classical economics is the real business cycle theory, which sought to explain observed fluctuations in output and employment in terms of real variables such as changes in technology and tastes. Assuming competitive markets, real business cycle theory implied that cyclical fluctuations are optimal responses to variability in technology and tastes, and that macroeconomic stabilization policies must reduce welfare

Control questions:

1. Concept of economy. Economy of numbers and reasonings. Macro - and microeconomics.

2. Economic indicators and their classification.

3. Functions of the economic theory.

4. Resources and production factors.

5. Subject of the economic theory.

6. Methods of knowledge of reality in the economic theory.

7. To characterize the main economic doctrines and the directions in the economic theory (mercantilism, a fiziokratizm, classical school, Marxism, a marzhinalizm, a keynsianstvo).

Дата добавления: 2015-08-20