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1 page/≈275 words
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Style:
APA
Subject:
Business & Marketing
Type:
Article Critique
Language:
English (U.S.)
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Topic:

Akerlof's The Consequences for Macroeconomics During the Past 60 Years

Article Critique Instructions:

Please provide comments on the attached article.
"We begin the second half of the course with another 'big picture' macro article, similar to the article by Caballero from the first week of the course. Akerlof reviews how his career evolved, as well as the main subject matter areas of interest to him during his career, and how in many ways macroeconomists, including himself, kind of missed the boat. He does express some hope for the role of 'financial crash' models within macroeconomics going forward.
Now it is always easy to look back in history and say things should have been different. We are all subject to the narrative of our time, and it very hard to escape that. Still, is Akerlof correct in stating that the profession stuck to a fairly narrow path? Do you think there are areas that should be added to macroeconomics that are currently being ignored or neglected?"
Your objective should be to understand the ‘main objectives’ or ‘takeaways’ of the article.

Article Critique Sample Content Preview:

Macro-Economic Article Analysis
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Macro-economic Article Analysis 
It is right to concur with Akerlof’s remarks that his profession as a macroeconomist had taken a fairly narrow path. During the period of undertaking his studies, Keynesian economics was the most dominant economic principle taught in schools (Akerlof, 2019). In the course of disseminating his lessons, the path to a greater understanding of macroeconomic principles was narrowed down to Keynes and a few other economists. For instance, learners, as well as economists, had the conviction that they had all that it takes to avert an economic downturn. They thought that maintaining full employment was the answer to such a position. However, this hypothesis proved wrong when the real global crisis such as the Great Depression and 2008/09 financial crisis came.
In essence, a country's, as well as the entire global economy, is under several inclinations and factors that affect it either directly or indirectly. Academia is highly predicated on peop...
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