Understanding Economic Theories: Classical, Keynesian, and Monetarism Assignment

Economic theories are the tools that form the base of explaining how an economy works and answer critical questions on the allocation, production, and distribution of resources. The most influential of these are Classical, Keynesian, and Monetarist theories. Each of these frames has dramatically impacted economic thought with diverse approaches to solving issues related to inflation, unemployment, and economic growth. This essay explores these theories and provides an extended comparison to enable students to grasp the difference between them and their practical application.

The Classical Economic Theory

Foundations of Classical Economics

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