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A Note on Teaching the Aggregate-Supply/Aggregate-Demand Model

Author

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  • David T. Geithman

    (New Jersey Institute of Technology)

Abstract

As 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.

Suggested Citation

  • David T. Geithman, 1994. "A Note on Teaching the Aggregate-Supply/Aggregate-Demand Model," Eastern Economic Journal, Eastern Economic Association, vol. 20(4), pages 475-477, Fall.
  • Handle: RePEc:eej:eeconj:v:20:y:1994:i:4:p:475-477
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume20/V20N4P475_477.pdf
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    References listed on IDEAS

    as
    1. George J. Stigler, 1951. "The Division of Labor is Limited by the Extent of the Market," Journal of Political Economy, University of Chicago Press, vol. 59, pages 185-185.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    AS AD; Economics; Macroeconomics; Supply;

    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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