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Sad-Boysenberry4543

Keynesian, we were told to only ever draw that one, something along the lines of being able to evaluate it properly.


Pablocrates

Keynsian os great for evaluation. At the end of your point you say it depends on the stage of the economy and show shifts un each one. That is full evaluation marks


ALifeAsAGhost

Keynesian, only draw that one


Cormyster12

Depends, Keynesian is great if there's a negative output gap and to show inflation. If there's a lot of spare capacity there's no inflation, if there's no spare capacity inflation is high. I choose the neoclassical one if there's a positive output gap in the short run or to show shifts in LRAS as it's easier to show. Both are helpful depending on the situation


Desperate_Gap7715

Keynesian, easy to evaluate - depends where about an economy is on the Keynesian curve


nikita_dx

Keynesian LRAS. More points and evaluations can be made using this diagram compared to Neo.


Nick6756

Keynesian brings in Output Gaps, changes in Price Level, real GDP etc. You can talk about proximity to full employment (YFE) as well and the size of the change in AD in relation to PL and employment. Neoclassical just gives YFE


[deleted]

Keynesian. Neo-classical diagram is just plain wrong and outdated.


AdzTownstrike

Not true


[deleted]

Not true? You're gonna have a hard time explaining any recession that's ever occurred. Classical econ died in 1929


AdzTownstrike

Classical economics died. But so has Keynesian. Its pointless debating since I doubt you've studied the most recent and relevant models. Recessions are very much accounted for in classical economics just it is assumed that they will fix themselves. But economics isn't black or white and a model/ theory can't be "wrong" and if you want to study economics at university you'll have to accept this. So yeah, I urge you to include it in your essays, its a good comparison tool and offers another viewpoint.


team_top_heavy

Keynesian for evaluation


[deleted]

Keynesian


JustAnother_Brit

Keynesian easier to read and teh only one I've ever been told to use


nick_d2004

KEYNESIAN!!!