Publisher's Synopsis
This laboratory-based package consists of a dynamic macroeconomics simulation and a lab manual, covering both basic and advanced macroeconomic concepts. The interactive material allows in-depth investigation of major economic concepts, and students can use the material for problem-solving analysis, testing intuitions via "what-if" scenarios, experimentation, and self study. Users are able to structure the simulations to conform to the assumptions of any of the major schools of economic thought, from Keynesian to Rational Expectations. Combinations of fiscal and monetary policies can be implemented and their effects seen in multiple representation - the Keynesian expenditure model, the AS/AD framework and the dynamic circular flow.
