1)the classical school of thought was promised the idea that people have free will in making decisions,and that punishment can be a deterrent for crime ,so long as the punishment is proportional,fit the crime,and is carried out promptly CONTRIBUTION OF THE CLASSICAL SCHOOL TO THE DEVELOPMENT OF MACRO ECONOMIC Classical school refer to the school of thought of economic that originated in the late 18th and early 19th centuries, especially in britain.it focused on economic growth and economic freedom, advocating laissez-faire ideas and belief in free competition CONTRIBUTION OF THE KEYNESIAN SCHOOL TO THE DEVELOPMENT OF MACRO ECONOMIC The Keynesian school: Keynesian economics is the term used to described the economic theories which have developees from the idea put forward by Keynesian general theory of 1936.rhe initial insight were quickly refined and accepted and Keynesian economics became the dominant school of macro economics of the 1950s 1960s and early 1870s.keynesian economic is a macroeconomics economic theory of total spending in the economy and it’s effect on output,employment, and inflation based on his theory, Keynesian advocated for increased government expenditure and lower taxes to stimulate damand and pull the global economy out of the depression CONTRIBUTION OF THE MONETARIST SCHOOL OT DEVELOPMENT OF MACRO ECONOMIC The Monetarist scohool is an economic school of thought which states that the supply of money in an economic is the primary driver of economic growth When interest rate are increased, people have more of an incentive to save than to spend it,thereby reducing or contracting the money supply CONTRIBUTION OF THE NEW KEYNESIAN OF THE DEVELOPMENT OF MACRO ECONOMIC The new Keynesian school:new Keynesian economics is a modern macro economics school of thought that evolved from classical Keynesian economics.new KEYNESIAN advocates maintain that price and wages are sticky:meaning they adjust more slowly to short term economic fluctuations .new Keynesian refers to a group to a group of theorists who have sought a new wage-price model or supply sub-system,on which to rest Keynesian tenets about the effect you f aggregate demand and monetary stabilization policy.new Keynesian economics became the dominant force in academic macro economics from the 1990s through to the financials crisis of 2008.new KEYNESIAN economist made a case for expansionary monetary policy,arguing that deficit spending encourages saving,rather than increasing demand or economic growth CONTRIBUTION OF NEO CLASSICAL SCHOOL TO THE DEVELOPMENT OF MACRO ECONOMIC The neo classical school of economic thought a wide ranging school of ideas from which modern economic theory evolved.the method is dearly scientific,with assumption and hypothesis and attempt to derive general rules or principle about the behavior to f firms and consumer CONTRIBUTION OF THE AUSTRIAN SCHOOL TO THE DEVELOPMENT OF MACRO ECONOMIC The Austrian school rejects the classical view of capital, which says interest rates are determined by the supply and demand of capital. The Austrian school holds that interest rate are determined by the subjective decision of individuals to spend money now or in the future
1)the classical school of thought was promised the idea that people have free will in making decisions,and that punishment can be a deterrent for crime ,so long as the punishment is proportional,fit the crime,and is carried out promptly
CONTRIBUTION OF THE CLASSICAL
SCHOOL TO THE DEVELOPMENT OF
MACRO ECONOMIC
Classical school refer to the school of thought of economic that originated in the late 18th and early 19th centuries, especially in britain.it focused on economic growth and economic freedom, advocating laissez-faire ideas and belief in free competition
CONTRIBUTION OF THE KEYNESIAN SCHOOL TO THE DEVELOPMENT OF
MACRO ECONOMIC
The Keynesian school: Keynesian economics is the term used to described the economic theories which have developees from the idea put forward by Keynesian general theory of 1936.rhe initial insight were quickly refined and accepted and Keynesian economics became the dominant school of macro economics of the 1950s 1960s and early 1870s.keynesian economic is a macroeconomics economic theory of total spending in the economy and it’s effect on output,employment, and inflation based on his theory, Keynesian advocated for increased government expenditure and lower taxes to stimulate damand and pull the global economy out of the depression
CONTRIBUTION OF THE MONETARIST SCHOOL OT DEVELOPMENT OF MACRO
ECONOMIC
The Monetarist scohool is an economic school of thought which states that the supply of money in an economic is the primary driver of economic growth
When interest rate are increased, people have more of an incentive to save than to spend it,thereby reducing or contracting the money supply
CONTRIBUTION OF THE NEW KEYNESIAN OF THE DEVELOPMENT OF
MACRO ECONOMIC
The new Keynesian school:new Keynesian economics is a modern macro economics school of thought that evolved from classical Keynesian economics.new KEYNESIAN advocates maintain that price and wages are sticky:meaning they adjust more slowly to short term economic fluctuations .new Keynesian refers to a group to a group of theorists who have sought a new wage-price model or supply sub-system,on which to rest Keynesian tenets about the effect you f aggregate demand and monetary stabilization policy.new Keynesian economics became the dominant force in academic macro economics from the 1990s through to the financials crisis of 2008.new KEYNESIAN economist made a case for expansionary monetary policy,arguing that deficit spending encourages saving,rather than increasing demand or economic growth
CONTRIBUTION OF NEO CLASSICAL SCHOOL TO THE DEVELOPMENT OF
MACRO ECONOMIC
The neo classical school of economic thought a wide ranging school of ideas from which modern economic theory evolved.the method is dearly scientific,with assumption and hypothesis and attempt to derive general rules or principle about the behavior to f firms and consumer
CONTRIBUTION OF THE AUSTRIAN SCHOOL TO THE DEVELOPMENT OF
MACRO ECONOMIC
The Austrian school rejects the classical view of capital, which says interest rates are determined by the supply and demand of capital. The Austrian school holds that interest rate are determined by the subjective decision of individuals to spend money now or in the future