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The Visual ¡°Big Picture¡± of Intermediate Macroeconomics: A Pedagogical Tool to Teach Intermediate Macroeconomics

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  • Seyyed Ali Zeytoon Nejad Moosavian

Abstract

The primary purpose of this paper is to introduce a holistic, visual ¡°big picture¡± of the concepts and diagrams that are commonly covered in the course of intermediate macroeconomics. Intermediate macroeconomics discusses numerous concepts and diagrams in order to finally show how aggregate supply (AS) and aggregate demand (AD) are derived in an economy. A further learning objective defined for the intermediate macroeconomics course is to enable students to investigate the overall effects of macroeconomic policies on AS and AD in the economy. In order to better attain the aforementioned learning objectives, the present paper proposes a visual ¡°big picture¡± which can be applied as a pedagogical tool in teaching intermediate macroeconomics classes. This visual ¡°big picture¡± logically connects twenty-seven macroeconomic diagrams which are usually introduced in the intermediate macroeconomics course, and also describes the general pattern and overall structure of macroeconomics in terms of four separate markets in a visual way, namely labor market, capital market, money market, and goods market. Finally, it is suggested that this visual ¡°big picture¡± should be provided to the students taking the course of intermediate macroeconomics so that they can readily grasp the logical order of the concepts and the underlying complex structure of the markets that are discussed in the course.

Suggested Citation

  • Seyyed Ali Zeytoon Nejad Moosavian, 2016. "The Visual ¡°Big Picture¡± of Intermediate Macroeconomics: A Pedagogical Tool to Teach Intermediate Macroeconomics," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(9), pages 234-248, September.
    • Handle: RePEc:ibn:ijefaa:v:8:y:2016:i:9:p:234-248
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    References listed on IDEAS

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    1. repec:ebl:ecbull:v:1:y:2008:i:1:p:1-6 is not listed on IDEAS
    2. Alexandra Naumenko & Seyyed Ali Zeytoon Nejad Moosavian, 2016. "Clarifying Theoretical Intricacies through the Use of Conceptual Visualization: Case of Production Theory in Advanced Microeconomics," Applied Economics and Finance, Redfame publishing, vol. 3(4), pages 103-122, November.
    3. Peter Kennedy, 2008. "A big picture for teaching macroeconomics principles," Economics Bulletin, AccessEcon, vol. 1(1), pages 1-6.
    4. David Wilson & William Dixon, 2009. "Performing Economics: A Critique of 'Teaching and Learning'," International Review of Economic Education, Economics Network, University of Bristol, vol. 8(2), pages 91-105.
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    Citations

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    Cited by:

    1. Mahmood Mahmoudzadeh & Seyyed Ali Zeytoon Nejad Moosavian, 2016. "Measuring and Analyzing the Shares of Economic Growth Sources in the Mining Sector of Iran: A Neoclassical Growth Accounting Approach," Papers 1612.00833, arXiv.org.
    2. Hongxiang Zhang, 2017. "Accommodating Different Learning Styles in the Teaching of Economics: with Emphasis on Fleming and Mills¡¯s Sensory-based Learning Style Typology," Applied Economics and Finance, Redfame publishing, vol. 4(1), pages 72-83, January.

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    More about this item

    Keywords

    intermediate macroeconomics; neoclassical and keynesians IS/LM/AS/AD models; aggregate supply; aggregate demand;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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