ECONOMIC 2152

Midwestern University

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Class notes ECONOMIC 2152
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11

June 2021

2020/2021
 Teaching Goals Physics has so far failed to provide a unified theory to explain all physical phenomena. Economics is even further away from achieving such a goal. Keynesian models, while still popular among many policymakers, do not do a very good job of explaining the source and the mechanism by which the typical business cycle comes to pass. Although business cycles are remarkable similar, they are not identical, and they appear to have multiple causes. Equilibrium theorists have propose...
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