In: Economics
Complete the table below asking for a “snapshot” description of
each of the four macroeconomic
schools of thought we discussed this semester:
|
Model |
Source of Business Cycle Fluctuations (i.e., recession) |
Major Tenets |
|
New Keynesian View (Mainstream Model) |
||
|
Classical View (Real Business Cycle Model) |
||
|
Monetarists |
||
|
Austrian School |