lecture 10 Flashcards
(8 cards)
1
Q
keynesian revolution 1930’s
A
keynes proposed a new theory of business cycles and became very popular post war
2
Q
1940’s-50’s: dominance of neoclassical synthesis
A
combining classical and keynesian economics
3
Q
1950’s-60’s growth theory
A
determinants of growth
4
Q
1970’s-80s
A
reaction against keynesian macro- new classical macro
5
Q
since 1980s
A
new keynesian economics
6
Q
since 1990s
A
rise of new economic growth theories
7
Q
neoclassical synthesis and NK (1940-60s)
A
previously keynesian economics was central but a new approach appeared which synthesized neoclassical and Keynesian views. this was the heart of macroeconomics of business cycle analysis until 1980s when NK macroeconomics became popular.
8
Q
IS/LM/AD/AS framework (early 1940s)
A
