So we know there are 2 problems that occur in economics - that of unemployment and inflation. To fix these problems there are 2 schools of thought - Classical Economics and Keynesian Economics (there are more but these are the 2 we are focusing on). Within Keynesian Economics there are 2 policy options - Fiscal and Monetary policy, to fix the economic problems of unemployment (a recession) and inflation.
The following videos will walk you through these different ideas and ways of thinking in economic terms.
Use these videos and your book to complete your Ch. 15 Study Guide and the EconLab on Classical v Keynesian Economics
Fiscal Policy
Monetary Policy
Economic Schools of Thought (Classical v Keynesian)
