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Macroeconomic Frameworks

What are Macroeconomic Frameworks?

Written by Jason Gordon

Updated at March 27th, 2023

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What are Macroeconomic Frameworks?

As you learn in the micro part of this book, principal tools that economists use are theories and models (see Welcome to Economics! for more on this). In microeconomics, we used the theories of supply and demand. In macroeconomics, we use the theories of aggregate demand (AD) and aggregate supply (AS). This book presents two perspectives on macroeconomics: the Neoclassical perspective and the Keynesian perspective, each of which has its own version of AD and AS. Between the two perspectives, you will obtain a good understanding of what drives the macroeconomy.

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Related Topics

  • Macroeconomics
  • Macroeconomic Frameworks
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  • Productivity Economics
  • One-Third Rule
  • Gross Domestic Product (GDP)
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  • Weightless Economy
  • Intermediate and Final Goods or Services
  • Nominal GDP
  • Converting Nominal to Real GDP
  • GDP Inflator
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  • Expenditure Method
  • The Problem of Double Counting GDP
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  • Convert GDP to a Common Currency
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macroeconomic frameworks economic framework

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