© 1998

Aggregate Demand and Supply

A Critique of Orthodox Macroeconomic Modelling

  • B. Bhaskara Rao

Table of contents

  1. Front Matter
    Pages i-xvi
  2. B. Bhaskara Rao
    Pages 1-10
  3. Ken McCormick, Janet M. Rives
    Pages 11-23
  4. Peter H. Hall, Malcolm L. Treadgold
    Pages 25-43
  5. Roy H. Grieve
    Pages 83-94
  6. David Colander, Peter Sephton
    Pages 137-154
  7. Corrado Benassi, Alessandra Chirco, Caterina Colombo
    Pages 177-208
  8. Back Matter
    Pages 209-228

About this book


'I wish Professor Rao and his collaborators every success in ensuring that future generations of students do not have to put up with logically incoherent foundations to their understanding of modern economic systems' - G.C. Harcourt, Jesus College, Cambridge There is now an increasing realisation that the popular textbook macroeconomic model of aggregate demand and supply is logically incorrect. While there is a broad agreement among the critiques on these logical flaws there has been no such agreement on how the basic textbook macromodel should be modified. The essays in this volume contain very promising alternative models which will significantly influence the way macroeconomics will be taught in the future.


economic system economics macroeconomics modeling

Editors and affiliations

  • B. Bhaskara Rao
    • 1
  1. 1.School of EconomicsUniversity of New South WalesAustralia

About the editors

RALPH C. ALLEN Professor of Economics, Valdosta State University, Georgia, USA CORRADO BENASSI Associate Professor of Economics, University of Bologna, Italy ALESSANDRA CHIRCO Lecturer in Macroeconomics, University of Bologna DAVID COLANDER Christian A. Johnson Distinguished Professor of Economics, Middlebury College, Vermont CATERINA COLOMBO Lecturer in Economics, University of Ferrara, Italy WINDSOR FIELDS Professor of Economics, James Madison University, Virginia, USA ROY H. GRIEVE University of Strathclyde, Glasgow PETER HALL Associate Professor of Economics, Australian Defence Force Academy, University of New South Wales, Canberra, Australia PETER KENNEDY Professor of Economics, Simon Fraser University, British Columbia, Canada KEN MCCORMIC Professor of Economics, University of North Iowa JOHN W. NEVILE Visiting Professor and Director of the Centre for Applied Economic Research, University of New South Wales JANET M. RIVES Professor of Economics, University of North Iowa PETER SEPHTON Professor of Economics, University of New Brunswick JACK STONE Associate Professor of Economics, Spelman College, Atlanta, Georgia, USA MALCOM TREADGOLD Professor of Economics, University of New England, Armidale, Australia.

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