Brief Outline of Topics Covered in Lecture 15
Chapter 21 Output, Inflation, and Monetary Policy [cont.]
Aggregate Demand and Aggregate Supply
- Shifts in AD
- Slope of AD
- SRAS
- Shifts in SRAS
- LRAS
- Shifts in LRAS
Equilibrium
Policy in the Short-Run and Long-Run
Chapter 22 Understanding Business Cycle Fluctuations
Aggregate Demand and Aggregate Supply
- Shifts in AD
- Shifts in SRAS
Using the AD-AS Framework
- How Do Policymakers Achieve Stabilization Objectives?
- The Opportunity Created by SRAS Shocks
LRAS Shocks
Video:
Additional Reading:
- Central Bankers - Stop Dithering. Do Something. - NYTimes.com
- Implications of the recent rise in oil prices - Econbrowser
- Daniel Hamermesh on Economics is Fun - The Browser
- Austerity alone can’t save the euro - FT.com
- Real money in China; Money illusion in America - Vox EU
- Voices of the Near Poor - NYTimes.com
- When Business Can’t Foresee Consumer Outrage - Richard Thaler
- More on Nominal GDP Targeting - John Taylor
- Fed’s Williams: Fiscal Policy Actions ‘Badly Needed’ - WSJ
- What Makes a Bank Look Like a Bank? - Liberty Street
