178 Outcome: Classical/Neoclassical Economics and the AD-AS Model

What you’ll learn to do: understand the tenets of Classical and Neoclassical Economics

In this section, you will learn about the foundational concept of the Classical model with Say’s law that leads to Neoclassical economics. You’ll also learn to analyze aggregate demand and supply through the Classical/Neoclassical perspective.

Here are some of the specific things you’ll learn to do in this section:

  • Identify the Classical/Neoclassical portion of the AS curve and explain the logic for it
  • Differentiate between the long run and short run aggregate supply curves

LEARNING ACTIVITIES

The learning activities for this section include:

  • Reading: Introduction to the Classical/Neoclassical Perspective
  • Reading: Say’s Law and the Macroeconomics of Supply
  • Reading: The Neoclassical Perspective and Aggregate Demand and Supply
  • Reading: The Neoclassical Perspective and Flexible Prices
  • Self Check: The Neoclassical Perspective

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.

License

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ACC Principles of Macroeconomics by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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