What is the evolution of macroeconomic theory?
The macroeconomics emerged as a discipline within economics with the Great Depression of the 1930s.
John Maynard Keynes was the great precursor of macroeconomics.
The macroeconomics is the study of economic growth and fluctuations.
The new neoclassical synthesis follows the Keynesian tradition of considering price rigidities.
There is no trade-off between inflation and unemployment in the long run.
The expectations respond to policies and, therefore, must be considered in the evaluation of the impact of monetary and fiscal policies.