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General equilibrium theory and Keynesian economics

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between General equilibrium theory and Keynesian economics

General equilibrium theory vs. Keynesian economics

In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium. Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

Similarities between General equilibrium theory and Keynesian economics

General equilibrium theory and Keynesian economics have 12 things in common (in Unionpedia): Business cycle, John Maynard Keynes, Macroeconomics, Microeconomics, Microfoundations, Neoclassical economics, New classical macroeconomics, Post-Keynesian economics, Real business-cycle theory, Schools of economic thought, Substitute good, Underconsumption.

Business cycle

The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.

Business cycle and General equilibrium theory · Business cycle and Keynesian economics · See more »

John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

General equilibrium theory and John Maynard Keynes · John Maynard Keynes and Keynesian economics · See more »

Macroeconomics

Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.

General equilibrium theory and Macroeconomics · Keynesian economics and Macroeconomics · See more »

Microeconomics

Microeconomics (from Greek prefix mikro- meaning "small") is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.

General equilibrium theory and Microeconomics · Keynesian economics and Microeconomics · See more »

Microfoundations

In economics, the term microfoundations refers to the microeconomic analysis of the behavior of individual agents such as households or firms that underpins a macroeconomic theory (Barro, 1993, Glossary, p. 594).

General equilibrium theory and Microfoundations · Keynesian economics and Microfoundations · See more »

Neoclassical economics

Neoclassical economics is an approach to economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand.

General equilibrium theory and Neoclassical economics · Keynesian economics and Neoclassical economics · See more »

New classical macroeconomics

New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework.

General equilibrium theory and New classical macroeconomics · Keynesian economics and New classical macroeconomics · See more »

Post-Keynesian economics

Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel.

General equilibrium theory and Post-Keynesian economics · Keynesian economics and Post-Keynesian economics · See more »

Real business-cycle theory

Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations to a large extent can be accounted for by real (in contrast to nominal) shocks.

General equilibrium theory and Real business-cycle theory · Keynesian economics and Real business-cycle theory · See more »

Schools of economic thought

In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a common perspective on the way economies work.

General equilibrium theory and Schools of economic thought · Keynesian economics and Schools of economic thought · See more »

Substitute good

A substitute good is one good that can be used instead of another.

General equilibrium theory and Substitute good · Keynesian economics and Substitute good · See more »

Underconsumption

In underconsumption theory in economics, recessions and stagnation arise due to inadequate consumer demand relative to the amount produced.

General equilibrium theory and Underconsumption · Keynesian economics and Underconsumption · See more »

The list above answers the following questions

General equilibrium theory and Keynesian economics Comparison

General equilibrium theory has 106 relations, while Keynesian economics has 150. As they have in common 12, the Jaccard index is 4.69% = 12 / (106 + 150).

References

This article shows the relationship between General equilibrium theory and Keynesian economics. To access each article from which the information was extracted, please visit:

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