History of Economic Thought, option 5

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Uploaded: 18.08.2013
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James. M. Keynes and Keynesian economic thought
1. Identify the basic principles of the economic system in the understanding of JM Keynes.
2. Expand the mechanism of violations of economic balance, its causes and consequences.
Identify the functional relationship between investment, employment, consumption and income.
3. Identify the specific policy measures arising from the fundamental tenets of the Keynesian theory.
Give definitions:
a) The concept of liquidity
b) the concepts of aggregate demand and aggregate supply
c) the basic psychological law
d) the concept of marginal efficiency of capital
d) multiplier of its value in the economy

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