AP Macro – 3/02/2020

I.  Bellwork

Page 339 – Check Your Understand 1-3 Q&A

II.  Objectives:

• Explain why classical macroeconomics wasn’t adequate for the problems posed by the Great Depression
• Discuss how Keynes and the experience of the Great Depression legitimized macroeconomic policy activism
• Define monetarism and identify its views on the limits of discretionary monetary policy

III.  Discussion:

A Classical Macroeconomics

1. Money and the Price Level
2. The Business Cycle
3. The Great Depression and the Keynesian Revolution
4. Keynes’ Theory
5. Policy to Fight Recessions

IV.  Notebook – Copy and Label

• Figure 31.1 Classical v. Keynesian
• Figure 35.2 Fiscal with a Fixed Money Supply

V.  Videos:

CLASSICAL (MONETARIST) VS. KEYNESIAN VIEWS OF MACROECONOMICS        KEYNESIAN ECONOMICS WITH JACOB CLIFFORD               

• MACRO: UNIT 2.6 — CLASSICAL V. KEYNESIAN THEORIES            

• Macro 3.8- Classical vs. Keynesian Aggregate Supply- Macroeconomics
• MACRO: UNIT 2.6 — CLASSICAL V. KEYNESIAN THEORIES               

VI.  Homework/Classwork:

• Module 35  Vocabulary 13 words (in bold)  Define and provide an example/application for each
• 3.4- Classical vs. Keynesian Economics (See video Macro 3.8 above)
• Worksheet 35.1: Quantity Theory of Money

AP Macro W2020