341
MODULE 35
History and Alternative Views of Macroeconomics
In this Module, you will learn to:
Explain why classical macroeconomics wasn’t adequate for the problems posed by the Great Depression
Discuss how Keynes and the experience of the Great Depression legitimized macroeconomic policy activism
De fine monetarism and identify monetarist views on the limits of discretionary monetary policy
Describe how challenges led to a revision of Keynesian ideas and the emergence of the new classical macroeconomics