Economics and the 2008 crisis: a Keynesian view

Learning outcomes

After studying this course, you should be able to:

  • understand what economists mean by ‘models’ and how they can be used to inform economic policy
  • define the concept of equilibrium and explain how it can occur at low levels of output
  • begin to understand the Keynesian model of aggregate demand and how it explains why economies can get stuck in a low output equilibrium
  • critically evaluate the role of fiscal policy in changing the economy.

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