A Note on Teaching the Aggregate-Supply/Aggregate-Demand Model
AbstractAs presented in most undergraduate economics textbooks, the aggregate supply/aggregate demand apparatus (AS-AD) is not only logically flawed, which Robert Barro recently demonstrated in this Journal, but seems ideally designed to prevent student learning by concealing the logic that lies behind the macroeconomic processes. Consequently, the AS-AD framework amounts to a form of intellectual indoctrination that relies on the authority of the textbook and instructor to gain student acceptance rather than on the power of reason. The overall effect of presenting the AS-AD model when students have no capability of understanding its internal logic is to discourage them from developing their own independent reasoning ability.
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Bibliographic InfoArticle provided by Eastern Economic Association in its journal Eastern Economic Journal.
Volume (Year): 20 (1994)
Issue (Month): 4 (Fall)
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AS AD; Economics; Macroeconomics; Supply;
Find related papers by JEL classification:
- A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
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