Is Elegance Useful? Rationality in the Dynamic and Optimal Economic Model

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dc.contributorSchmeiser, Steven
dc.contributorGifford, Janice
dc.contributorRobinson, Michael
dc.contributor.advisorHartley, James
dc.contributor.authorGongadze, Tea
dc.date.accessioned2013-05-10T15:02:10Z
dc.date.available2013-05-10T15:02:10Z
dc.date.gradyear2013en_US
dc.date.issued2013-05-10
dc.description.abstractThe purpose of this thesis is to discuss the development of the macroeconomic models in perspective and analyze recent models dominating the economics theory along with discussing a new dynamic model which considers all criticisms of the prior models and incorporates different approaches to the economic fluctuations. I am representing several crucial modifications in this model. After running several experiments, the model claimed that incorporating rational expectations in the model helps to present better predictions regarding the economy.en_US
dc.description.sponsorshipEconomicsen_US
dc.identifier.urihttp://hdl.handle.net/10166/3229
dc.language.isoen_USen_US
dc.rights.restrictedpublicen_US
dc.subjectmacroeconomic modelen_US
dc.subjectdynamic modelen_US
dc.subjecteconomic fluctuationen_US
dc.subjectrational expectationsen_US
dc.subjectKeynesen_US
dc.subjectIS-LM Modelen_US
dc.subjectDAD-DAS modelen_US
dc.subjectdemand shocken_US
dc.subjectsupply shocken_US
dc.subjectrisk shocken_US
dc.subjectAlpanda, Honig and Woglomen_US
dc.subjectTaylor Ruleen_US
dc.subjectOkun's Lawen_US
dc.subjectPhilips Curveen_US
dc.titleIs Elegance Useful? Rationality in the Dynamic and Optimal Economic Modelen_US
dc.typeThesis
mhc.degreeUndergraduateen_US
mhc.institutionMount Holyoke College

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