🌿From Pre-New Keynesian to New Keynesian | How IS-LM & Price Adjustment Are Replaced🌿

In this lecture, we move from the Pre-New Keynesian framework to the New Keynesian model, focusing on what changes.
We discuss:

1)How the dynamic IS curve replaces the traditional IS–LM system
2)The LM curve is replaced by a monetary policy rule (Taylor rule)
3)The Price adjustment curves evolve into the New Keynesian Phillips Curve

This lecture provides the conceptual bridge needed before formally deriving the New Keynesian model using optimization and rational expectations.

📌 Essential for MS Economics students and DSGE beginners.

🔖 Hashtags
#Macroeconomics
#NewKeynesian
#PreNewKeynesian
#ISLMModel
#DynamicISCurve
#TaylorRule
#NewKeynesianPhillipsCurve
#DSGEModels
#MSEconomics
#AdvancedMacro

Видео 🌿From Pre-New Keynesian to New Keynesian | How IS-LM & Price Adjustment Are Replaced🌿 канала 🌿Mathematics & Economics with Amina🌿