Other Things Equal: Truth in Labeling, AS/AD Analysis, and Pedagogy
If you reduce a multi-dimensional relationship to a two dimensional graph, you are going to cause some confusion. If you do so without being explicitly clear about the definitions and assumptions you are making in the reduction, you will likely cause significant confusion. The AS/AD labeling terminology misleads both students and economists and has been used inconsistently within some textbooks. New names are suggested--aggregate equilibrium demand (for aggregate demand) and aggregate supply path (for aggregate supply) to alert students to the difference between the aggregate curves and their micro counterparts and to the differences in the specifications underlying those curves.
Volume (Year): 23 (1997)
Issue (Month): 4 (Fall)
|Contact details of provider:|| Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA|
Phone: (201) 684-7346
Web page: https://www.quinnipiac.edu/eea/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:eej:eeconj:v:23:y:1997:i:4:p:477-482. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross)
If references are entirely missing, you can add them using this form.