Prepare a paper and summarize key developments in macroeconomic history. Specifically, what are the similarities and differences between Keynesian and classical economics? How does each handle issues of unemployment? What new developments starting in the 1980s have changed macroeconomic thought?
Prepare a two-page (double-spaced) essay. Cite references to material that you use in preparing the essay.
Be sure you have presented your assignment in a logical format, that has an introduction paragraph, the body (one or more paragraphs), and a concluding paragraph. Also, ensure that you have the appropriate formatting to avoid plagiarism and the appropriate grammar (this may be achieved by using free tools available on the Internet).
The following criteria will be used to assess your papers:
Identifies similarities and differences in Keynesian and classical economic thought.
Describes how Keynesian and classical economists address the issue of unemployment.
Accurately describes new developments since the 1980s.
Organization and style of the essay.
Organization Grading Guidelines: Presentation is very effective and presented in a logical format with a clear beginning, middle and end. There is a clear statement of ideas and smooth transitions. The writer has stated the main idea clearly and has provided relevant details. The main idea is clearly conveyed in a presentation that is highly relevant and interesting. The student provides evidence of thoughtful input. Details are rich and appropriate. Spelling, punctuation, and capitalization are virtually always correct.
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