Because historical episodes allow diverse interpretations, many conclusions of macroeconomics are not coercive. After that, the process of Development of this discipline was handled by the different scholars and Economists in different centuries. Macroeconomics is ‘non-experimental’: like, e.g., history, macro-economics cannot conduct controlled scienti ﬁc experiments (people would complain about such experiments, and with a good reason) and focuses on pure observation. In macroeconomics, a variety of economy-wide phenomena is thoroughly examined such as, inflation, price levels, rate of growth, national income, gross domestic product and changes in unemployment. Brief History of Macroeconomics and The Origins of Freshwater vs. Saltwater Economics. It is not that they didn't pay attention to Important policy debates such as, the sub-prime crisis, social security, the public debt, and international economic issues are critically explored. It is a historical account of economic doctrines. According to H.L. You must have access to PowerPoint 97 or higher (or PowerPoint 98 for the Mac) to run the slide shows. White Plains High School 550 North Street | White Plains, NY 10605 | PH: 914-422-2182 I and others, particularly Paul Krugman, occasionally make reference to “freshwater” vs. “saltwater” economics. History of economics thought deals with the origin and development of economic ideas and their interrelations. Lecture Notes in Macroeconomics John C. Driscoll Brown University and NBER1 December 21, 2003 1Department of Economics, Brown University, Box B, Providence RI 02912. This page provides links to the PowerPoint slides used in class in Economics 201, Sections 3 & 4. November 8, 2011 November 5, 2011 / Jim Luke. Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives This course provides an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Introduction of Macroeconomics. Monetary and fiscal policies are discussed. Phone (401) 863-1584, Fax (401) 863-1970, email:John Driscoll@brown.edu, web:http:nn Macroeconomics is the branch of economics concerned with the study of aggregate economic activity. Mercantilism Economics is said to begin with Adam Smith in 1776. Introduction to Macroeconomics TOPIC 1: Introduction, de nition, measures. Accordingly, he established the Calvin K. Kazanjian Economics Foundation Inc, in 1949 as a philanthropic, nonpolitical educational organization to support efforts that enhanced economic understanding. A BRIEF HISTORY OF ECONOMICS This isn't really essential to know, but may satisfy the curiosity of many. Unemployment rate - Who are the unemployed? 3.2. Bhatia history of economic thought includes the doctrines and generalizations of various thinkers which deal with the economic phenomena of our life. In most countries, the criteria for being unemployed are not to have a job to be looking for a job An individual who has no job and is not looking for a job is Prior to that, nobody thought of economics, or markets, as an object of study.
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