Section 3.3 – 3.5: Macroeconomic Models, Demand-side and Supply-side Policies and Unemployment and Inflation

John Maynard Keynes is considered the father of macroeconomics and his theories have recently enjoyed a renewed level of interest in the context of the Global Economic Crisis (GEC). There has even been a rap on Youtube dedicated to the differing opinions between Keynes and the less famous Hayek.

Not only will you be able to understand the lyrics of  ”Fear the Boom and Bust”, Sections 3.3 to 3.5 will explain various macroeconomic models and outline the enduring debate between neoclassical economists and Keynes and their solutions to the threats posed by inflation and unemployment.

Activities:

1. PP Lecture on  Section 3.3 Macroeconomic Models: AD, AS and the Business Cycle

Section 3.3 Macroeconomics Models: Neoclassical and Keynesian Perspectives

2. Commanding Heights

Viewing Guide #1

In Class Short Essay Test on Commanding Heights

3. Problem Bases Learning: The President’s Delmma

4. Triple A Reading

5. Extended Response Writing

6. Diagram Bank: Over the course of this unit you are to compile a bank of macroeconomic diagrams. You can use any method to display your understanding: a series of blog posts, a series of voicethreads, an Inspiration concept map (Inspiration has a beta version of a free web-based program), hand drawn diagrams etc.

7. Online quizes are now open and will close on Sunday 30 May 2010.