Classical Economics vs Keynesians Economics | Macro Economics | Harpreet Kaur | Ecoholics

Economists use two major types of models to describe the economy. They are the Classical Model and the Keynesian Model. The former was created by Adam Smith way back on March 9, 1776, when he published The Wealth of Nations. The latter was created by John Maynard Keynes (pronounced Canes) in February of 1936 when he wrote The General Theory of Employment, Interest, and Money.
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[@nikkibhati3212]

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[@jerin4808]

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[@user-yh9ji1ng7u]

Dear teacher you teaching with definition is good for the difference between Keynesian and classical. Dear teacher please adding neoclassical and neo keynesian International economics please prepare video with example Adam Smith autorky(closed economy) and open economy David Ricardo closed economy and open economy

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[@AlekaKebede-xw3xj]

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Niy

[@lovekushgautam9966]

Very nice explenation

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I hope understand everything so this theory .. I am from ASSAM, INDIA💝

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She made the topic so easy

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[@user-eh2jv3nk9e]

Thank you

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[@uddeshya1871]

Thanks 😊 I humbly request to One numerical. Absolute trade theory and Comparative trade theory.

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[@puspanjaliminj9212]

Love it❤️

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[@tharangiwattuhewa1782]

Thank you 🇱🇰🇱🇰🇱🇰🇱🇰

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[@nithinacademy1646]

Love economics

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[@Dinsafilekogerba...]

Thank you very much teacher I am Ethiopian ❤

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[@supriyaparichhasumuni4227]

Thank u mam

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[@user-uy6yc2ju9u]

i have a question about the full employment and full production levels

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Hi, Certainly! I'd be happy to help with your question about full employment and full production levels. Full employment and full production levels are important concepts in economics. Full employment refers to a situation in which all available labor resources in an economy are being used to their maximum potential. In other words, it means that everyone who wants a job can find one, and there is no cyclical or involuntary unemployment. However, it's important to note that full employment does not mean zero unemployment, as there can still be some frictional and structural unemployment due to people changing jobs or skills not matching job requirements. On the other hand, full production levels, also known as potential output or the natural level of output, represent the maximum sustainable level of production an economy can achieve without causing inflation. It's the level of output that can be maintained over the long term without putting excessive pressure on resources. When an economy operates at full production, it's producing as much as it can without overheating, which could lead to inflation. The key connection between these two concepts is that when an economy is at full employment, it's also typically operating at or near full production levels. This is because when all available labor resources are employed, the economy is utilizing its productive capacity to the fullest extent.

[@user-uy6yc2ju9u]

Thank you but i was asking on what Maynad and Adam Smith said

[@tinadas7244]

Thank you ma'am I am from Assam

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[@shantaislam5840]

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[@sahoojyotirmayeejaisitaram6307]

Class on Say's law of Market

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dono topic बहोत अच्छे से देखे मैने

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[@gauravthakur719]

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[@eyasuabebe7336]

In your class lesson focus in types employment

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[@123channeltamizhan8]

👍

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