I had this in college in 1979. Fifteen years later I ran into the econ professor that taught the class. I asked him a question about IS-LM and he said...'they don't even use that anymore'. Apparently, they just make this stuff up so professors can have jobs.
Yeah that's true. I'm studying at university now and my professor told us the exact same :) It is too simple nowadays to be used for anything. But it isnt made up, just old (from 1936)
you can imagine a model like the valence electron model in chemistry- it’s a very simple model that doesn’t reflect reality or what we know now, but it gets to the core concepts and allows for a foundational understanding of these ideas
@@joshuajohn5832 I study at university and we do use this still today, at least in Denmark. I don't think it's used for its accuracy, but rather to show students how the different macroeconomic factors are connected to each other.
Economics is an ideological practice. They switched to an aggregate demand-aggregate supply model in most macro textbooks because it justified austerity governence better
Is it real interest rate or nominal interest rate data that we need to use when we talk about the monetary policy of a country? Can someone pls help me?
This is different to what we were taught? for LM curve our lecturer went on about speculative demand, people guessing what's going to happen to rates of return on bonds and lending
I just read 24 pages on this and you explained it all in 3 minutes!! thank you!
+zaki1981 my final are in 30min, i read 90 pages last night and i got it now. fuck it
zaki1981
I had this in college in 1979. Fifteen years later I ran into the econ professor that taught the class. I asked him a question about IS-LM and he said...'they don't even use that anymore'. Apparently, they just make this stuff up so professors can have jobs.
Yeah that's true. I'm studying at university now and my professor told us the exact same :) It is too simple nowadays to be used for anything. But it isnt made up, just old (from 1936)
you can imagine a model like the valence electron model in chemistry- it’s a very simple model that doesn’t reflect reality or what we know now, but it gets to the core concepts and allows for a foundational understanding of these ideas
@@joshuajohn5832 I study at university and we do use this still today, at least in Denmark. I don't think it's used for its accuracy, but rather to show students how the different macroeconomic factors are connected to each other.
Economics is an ideological practice. They switched to an aggregate demand-aggregate supply model in most macro textbooks because it justified austerity governence better
Making up and using an old model is different. Get that correct.
brief and clear,really good explained
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No joke, I have watched a few IS LM curve videos on UA-cam just now, all the lecturers sound drunk, dunno why, maybe cfa hits everyone too hard
Is it real interest rate or nominal interest rate data that we need to use when we talk about the monetary policy of a country?
Can someone pls help me?
This model just deals with nominal
This is different to what we were taught? for LM curve our lecturer went on about speculative demand, people guessing what's going to happen to rates of return on bonds and lending
Good explanation. Thank you!!!!
You try to give the video more brightness it will be great if you do
Haha, that's why they say "simple, make it simple, man!" Thank you!
Thanks!
real not nominal interest rates?
Great video!!!!!
you just saved my grade
Very simple way of explaining.....
Thank you. This is very clear
whats y?
very interesting insight thank you!
🥰very well explained
Perfect! I literally got it
THANKYOU!!! i finally get it!
this is great.
1:50 is why I’m here.
I rea manikiw text 24 hours but I have not understand, however in this video very clear so thanks
Y = GDP
Nice video
Thanks bruv
Grt this well expounded
Anyone else here from ANU?
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naw bawd
Jjo🛫
The national income
You try to give the video more brightness it will be great if you do
You try to give the video more brightness it will be great if you do