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framsey comments on Valuable economics knowledge available, ironically, for free - Less Wrong Discussion

29 Post author: Stuart_Armstrong 18 July 2013 11:30AM

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Comment author: framsey 20 July 2013 09:08:31PM 0 points [-]

What do you mean by 'content' here? The basic narrative each model tells about the economy?

Right. Plus most undergrad models have an analog in grad macro, i.e. the AD-AS model and the New Keynesian model, or Quantity theory of money and a basic cash in advance model.

The big difference between the models I learned in undergrad and the models I learned in grad school was that in undergrad, everything was static. In grad school, the models were dynamic

True in general. Some intermediate macro courses use a two-period framework to explore basic dynamics. Williamson's textbook does this.