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I guess I have to come out to reply to those who concern with the nature rate of unemployment First, What is the natural rate of unemployment? It is assumed to be the unemployment rate at the steady state or equilibrium. Note that equilibrium here is not referred to the common

I guess I have to come out to reply to those who concern with the nature rate of unemployment First, What is the natural rate of unemployment? It is assumed to be the unemployment rate at the steady state or equilibrium. Note that equilibrium here is not referred to the common

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I want to thank Edward Nell, David Colander, John Eatwell and Thomas Palley for their comments and suggestions on the early draft of paper Dept of Economics, Graduate Faculty, New School for Social Research, 65 Fifth Ave

Course description Macroeconomics is the most disputed, confused, yet excited field in economics. This course introduces you how economists think about those macroeconomic problems such as inflation, unemployment and recession, and how macroeconomic policies

Course Description Macroeconomics is the most disputed, confused yet excited field in economics. This course introduces you how economists think about those macroeconomic problems such as inflation, unemployment and recession, and how macroeco could be used to resolve these problems. We will find that economists may give you many different answers. Yet behind their different answers is the difference in the framework of macroeconomic analysis. The course will thus introduce you two major

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What is economics? Normative Definition Economics is the science that studies how to efficiently allocate economic resources Positive definition economics is the science that studies how an economy operates or how economic variables are