Teacher

Description

Overview:
This topic may be covered after reading The Aggregate Demand/Aggregate Supply Model (Chapter 11 in OpenStax) and The Keynesian Perspective (Chapter 12 in OpenStax). Preferably, Aggregate Expenditures should be taught as the theory of Aggregate Demand. In the latter case, sections of the Keynesian perspective should be coupled with this section on Aggregate Expenditure. Thereafter, students can study the Money Market and Monetary Policy. Finally, the instructer can put together all these frameworks to derive Aggregate Demand. The fundamental ideas of Keynesian economics were developed before the AD/AS model was popularized. From the 1930s until the 1970s, Keynesian economics was usually explained with a different model, known as the expenditure-output approach. This approach is strongly rooted in the fundamental assumptions of Keynesian economics: it focuses on the total amount of spending in the economy, with no explicit mention of aggregate supply.
Subject:
Economics
Level:
Community College / Lower Division, College / Upper Division
Material Type:
Module
Provider:
Ohio Open Ed Collaborative
Date Added:
09/27/2018
License:
Creative Commons Attribution Non-Commercial Creative Commons Attribution Non-Commercial
Language:
English
Media Format:
eBook, Text/HTML

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