Analyze graphically the ad-as model the keynesian cross


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Analyze graphically the AD-AS model, the Keynesian cross, and the IS-LM model. Identify all relevant curves and causes for shifts in the curves.

Explain the evolution of the monetarist and new classical theories.

Identify inflation its causes and cures

Identify connection between inflation and unemployment

Describe how new-Keynesian theory justifies the Keynesian the Keynesian policy prescriptions.

Define supply-side economics and discuss how it explains the government spending deficit.

Explain the relationship between the government budget deficit and the trade deficit.

Explain how national savings determines the trade deficit.

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