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    The predictive value of macroeconomics

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    In your opinion, does macroeconomics interpret economic fluctuations? Why or why not?

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    Whether economics attempts to make sense of economic fluctuations is not really a matter of opinion. The main purpose of economics is to make such interpretations. In fact economics is divided into two camps based on its assumptions about what causes such fluctuations. Classical economists, or monetarists, look to aggregate supply for the causes, while Keynesians look at aggregate demand.

    However, it is a matter of debate whether ...

    Solution Summary

    The solution forms an opinion on the predictive value of macroeconomics.