26 May As Agreed $60
Choose any macroeconomic model that you have studied in this unit and discuss how that model is an improvement on the classical explanation of macroeconomics
Please just talk about Classical and Keynesian Model.
Basically you can write on:
Introduction, explain about classical model, briefly explain on the say’s law using the “topic 2 classical macro notes”, use “diagram 9” on the same set of notes and talk about it, explain about keynesian model, talk about the keynesian neoclassical synthesis; liquidity trap and interest inelastic investment using the notes from “topic 3 keynesian neoclassical notes” and also “keynesian effect model” to talk about keynesian effect.
Most important of all is the marking criteria 3(c) and 3(d) from the “Essay Marking Rubics document”– evaluation of the models’ usefulness and limitations in explaining macroeconomic fluctuations and their influence on economic policies over various time periods and discuss whether the Keynesian model is an improvement (or not) over the classical explanation of macroeconomics with an evaluation of the strengths and weakness of the models in the analysis of past and current economic environment. This should be the main sections of the essay. Some examples you can use are the Great Depression, Japan’s negative interest rate etc.
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