December 04, 2003

Aggregate Supply, Aggregate Demand, and the Phillips Curve

We finished the semester with a stimulating discussion of how making prices flexible in the IS/LM model leads to an aggregate supply/aggregate demand diagram. This leads Keynesians to support the notion of a Phillips Curve. We discussed the political and economic history of the Phillips Curve using diagrams at The Econ Review.



Posted by bparke at December 4, 2003 02:48 PM