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- Does neoclassical economics focus on the long term or the short term? Explain your answer.Do neoclassical economists tend to focus more on cyclical unemployment or on inflation? Explain briefly.Using “The Evolution of Economic Thought” book by Randy R. Grant and Stanley L. Brue as your reference 1. what is the historical background of neoclassical school of economics. give all points
- Identify and explain three differences between neoclassical economics economics and behavioral economics?what is The rule of assumptions in building economics models?Using “The Evolution of Economic Thought” book by Randy R. Grant and Stanley L. Brue as reference, 1. How was the neoclassical school valid, useful or correct in its time? Give explanation 2. List all the major tenets of neoclassical school of economics. And please give an explanation.
- In what way is neoclassical economics different from old and new institutional economics? Which school of thought is founded on principles that are closer to reality?What is the Stackelberg Theory in Economics?What does Chang mean when he describes Neoclassical economics as being more "versatile" than other schools of economic thought? You may answer in a paragraph or two.