Outcome: Neoclassical Economics and the AD-AS Model

What you’ll learn to do: understand the tenets of Neoclassical Economics

In this section, you will learn about the foundational concept of Neoclassical economics and Say’s Law. You’ll also learn to analyze aggregate demand and supply through the Neoclassical perspective.

Here are some of the specific things you’ll learn to do in this section:

  • Identify the Neoclassical portion of the AS curve and explain the logic for it
  • Differentiate between the long run and short run aggregate supply curves


The learning activities for this section include:

  • Reading: Introduction to the Neoclassical Perspective
  • Reading: Say’s Law and the Macroeconomics of Supply
  • Reading: The Neoclassical Perspective and Aggregate Demand and Supply
  • Reading: The Neoclassical Perspective and Flexible Prices
  • Self Check: The Neoclassical Perspective

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.