Unit 5 Paper.docx - Banks 1 Banks William Andrew Hall Course Number ECO 201.31 Macroeconomics Instructor Mr Roger Cyr 30 September 2018 Banks 2 During

Unit 5 Paper.docx - Banks 1 Banks William Andrew Hall...

This preview shows page 1 - 3 out of 5 pages.

Banks 1 Banks William Andrew Hall Course Number: ECO 201.31 Macroeconomics Instructor: Mr. Roger Cyr 30 September 2018
Banks 2 During unit five we have learned multiple things. We have learned about AD/AS Model, neoclassical model of aggregate demand and aggregate supply, and what money will be like in the future. I learned a lot in this model. AD/AS model “ is a macroeconomic model that explains price level and output through the relationship of aggregate demand and aggregate supply. It is based on the theory of John Maynard Keynes presented in his work The General Theory of Employment, Interest and Money”. (Wikipedia, 2018). The neoclassical model of aggregate demand and aggregate supply shows the “perspective on macroeconomics holds that, in the long run, the economy will fluctuate around its potential GDP and its natural rate of unemployment. ... Let's consider the two neoclassical building blocks in turn, and how they can be embodied in the aggregate demand / aggregate supply model” . (Lumen, No date). Lastly we learned about what the future will be like with money and banking. Everything will be digital and we are already seeing this happen due to phone apps and online currency. In society almost everyone has converted stores and banking to online at the push of a button on a phone or a swipe of a card.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture