EQUILIBRIUM AND FISCAL POLICY
Upon completing this lecture, students should understand the AD and AS
model, Short-run and long-run equilibrium within the macro economy, and
fiscal policy. Both the classical and Keynesian's point of view will be
1. Understand the inflationary and recessionary gap.
2. Compare and contrast short-run and long-run equilibrium.
3. Define multiplier and its applications.
4. Evaluate the effectiveness of changes in fiscal policy.
Please read all the lectures by
clicking on the following topics.
CLASSICAL AND KEYNESIAN ECONOMICS
AGGREGATE EXPENDITURE MODEL
LECTURE ONE / LECTURE TWO / LECTURE THREE / LECTURE FOUR / LECTURE FIVE