MAC04 Simple Model
MONDAY 17th Sept 2018
This lecture is devoted to studying a simple model which clarifies the ideas in Chapter 2 of Keynes General Theory.
After this lecture, it should be easy for you to understand what Keynes is saying, since nearly all of the concepts he covers in the chapter were discussed in the class, and can be demonstrated in the Simple Model that we constructed and discussed.
The ASSIGNMENT for next time is to work on extensions of the model which are given as exercises.
The Transcript is given below, and can be edited by anyone in AZ-ResearchGroup -- This is automatically generated Google Voice Recognition. I will assigne students to correct it, so that it can be used to create a textbook for use, for later -- You should listen to the lecture (95m YouTube Video: Simple Model Explains Complex Keynesian Concepts -- at the indicated timings) and compare with the text, and make any corrections necessary
Final Exam Questions: Solve the Exercises attached below
Simple Model to Explain Complex Keynesian Macroeconomic Concepts - Post on WEA Pedagogy Blog, describes Simple Model, and the insights it yields into Keynesian concepts.
Simple Model to Explain Complex Keynesian Macroeconomic Concepts - 95m Video Lecture discusses connections between models and reality, and creates a simple model to help understand Keynesian concepts
Models & Reality - WEA Pedagogy Post discusses models & reality, and also gives exercises on variants of the simple model.