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Classical Macroeconomy Essay

Author

Listed:
  • Karolyne Santana Costa

    (Universidade Federal de Sergipe (UFS))

  • Tácito Augusto Farias

    (Universidade Federal de Sergipe (UFS))

  • Luiz Eduardo Nascimento Figueiredo

    (Universidade Federal de Pernambuco (UFPE))

Abstract

This essay presents a theoretical foundation for the analysis conception on the formation of the equilibrium between aggregate supply and aggregate demand in the classical model. To arrive at the considerations presented here, the history of classical economic thought was taken into account, drawing as a starting point the rupture of mercantilism. From this historic mark it was possible to describe the main names that were responsible for changing the economic conception during the years that followed. It was also tried to report some of the your most import contributions to the formation of orthodox ideas of the classical school, which are in force and are reformulated up to the present moment. With the construction of the theoretical and graphic model, then presents the importance and coherence coexisting in the exposed model, evidencing its impacts on the evolution of economic thinking.

Suggested Citation

  • Karolyne Santana Costa & Tácito Augusto Farias & Luiz Eduardo Nascimento Figueiredo, 2020. "Classical Macroeconomy Essay," Revista de Economia Mackenzie (REM), Mackenzie Presbyterian University, Social and Applied Sciences Center, vol. 17(1), pages 92-114, January-J.
    • Handle: RePEc:aft:journl:v:17:2:2020:jan:jun:p:92-114
    DOI: 105935/1808-2785/rem.v17n1p.92-114
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    More about this item

    Keywords

    Classical aggregate demand; full employment equilibrium; classic model; vertical aggregate supply; history of economic thinking.;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics

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