Teaching Real Business Cycles to Undergraduates

Autor/inn/en	Brevik, Frode; Gartner, Manfred
Titel	Teaching Real Business Cycles to Undergraduates
Quelle	In: Journal of Economic Education, 38 (2007) 2, S.229-247 (19 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
Schlagwörter	Economics Education; Macroeconomics; Teaching Methods; Models; Economic Climate; Graphs; Undergraduate Study + Suchen Sie Ihr Suchwort? Wirtschaftskunde; Makroökonomie; Teaching method; Lehrmethode; Unterrichtsmethode; Analogiemodell; Wirtschaftslage; Grafische Darstellung; Grundstudium
Abstract	The authors review the graphical approach to teaching the real business cycle model introduced in Barro. They then look at where this approach cuts corners and suggest refinements. Finally, they compare graphical and exact models by means of impulse-response functions. The graphical models yield reliable qualitative results. Sizable quantitative differences exist, but these can partly be remedied by adding appropriate refinements when taught by experienced instructors. The graphical analysis of the real business cycle equips students with a first understanding of the economy's supply side and generates dynamics that will survive closer scrutiny later in the curriculum. (Contains 8 figures and 15 notes.) (Author).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10