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Peer reviewedSmith, Harlan M., II – Journal of Economic Education, 1997
Illustrates how, using introductory-level microeconomic models, an instructor can show various economic theorists' explanations of short run employment and output fluctuations. Identifies the competing schools of thought as old Keynesian, new Keynesian, and new Classical (which includes real business cycle theorists). Includes illustrative graphs…
Descriptors: Business Cycles, Causal Models, Course Content, Economics
