Tips for Using Blooms Taxonomy in Your Classroom

Though a students complaint that a question is too hard might be more a matter of effort than ability, it is true that some questions are just harder than others. The difficulty of a question or assignment comes down to the level of critical thinking it requires. Simple skills such as identifying a state capital are quick and easy to assess, while complex skills such as the construction of a hypothesis are more difficult to quantify. Blooms taxonomy can be used to make the process of categorizing questions by difficulty easier and more straightforward. Blooms Taxonomy Blooms taxonomy is a long-standing cognitive framework that categorizes critical reasoning in order to help educators set more well-defined learning goals. Benjamin Bloom, an American educational psychologist, developed this pyramid to define levels of critical thinking required by a task. Since its inception in the 1950s and revision in 2001, Blooms Taxonomy has given teachers a common vocabulary for naming specific skills required for proficiency. There are six levels in the taxonomy that each represent distinct levels of abstraction. The bottom level includes the most basic cognition and the highest level includes the most intellectual and complicated thinking. The idea behind this theory is that students cannot be successful in applying higher-order thinking to a topic until they have first mastered a ladder of rudimentary tasks. The goal of education is to create thinkers and doers. Blooms taxonomy gives a path to follow from the beginning of a concept or skill to its end, or to the point where students can think creatively about a topic and solve problems for themselves. Learn to incorporate all levels of the framework into your teaching and lesson plans in order to scaffold the learning that your students are doing. Remembering In the remembering level of the taxonomy, which used to be known as the knowledge level, questions are used solely to assess whether a student remembers what they have learned. This is the bottom level of the taxonomy because the work that students are doing when remembering is the simplest. Remembering commonly presents in the form of fill-in-the-blank, true or false, or multiple-choice style questions. These can be used to determine whether students have memorized important dates for a particular time period, can recall the main ideas of a lesson, or can define terms. Understanding The understanding level of Blooms Taxonomy moves students slightly beyond fact recall into understanding the information presented. This used to be known as comprehension. Within understanding, students encounter questions and tasks where they interpret facts rather than state them. Instead of naming cloud types, for example, students demonstrate understanding by explaining how each type of cloud is formed. Applying Application questions ask students to apply or use the knowledge or skills that they have acquired. They might be asked to use information that they have been given to create a viable solution to a problem. For example, a student might be asked to solve a mock Supreme Court case using the Constitution and its amendments to determine what is constitutional. Analyzing In the analyzing level of this taxonomy, students demonstrate whether they can identify patterns to solve problems. They differentiate between subjective and objective information in order to analyze and come to conclusions using their best judgment. An English teacher wanting to assess student analyzing skills might ask what the motives were behind a protagonists actions in a novel. This requires students to analyze the traits of that character and come to a conclusion based on a combination of this analysis and their own reasoning. Evaluating When evaluating, a level previously known as synthesis, students use given facts to create new theories or make predictions. This requires them to apply skills and concepts from multiple subjects at once and synthesize this information before coming to a conclusion. If, for example, a student is asked to use data sets of ocean level and climate trends to predict ocean levels in five years, this type of reasoning is considered evaluating. Creating The highest tier of Blooms taxonomy is called creating, previously known as evaluation. Students demonstrating their ability to create must know how to make judgments, ask questions, and invent something new. Questions and tasks within this category might require students to assess author bias or even the validity of a law by analyzing information presented and forming opinions, which they must always be able to justify with evidence. Often, creating tasks ask students to identify problems and invent solutions for them (a new process, an item, etc.). Implementing Blooms Taxonomy There are many reasons for a teacher to Blooms taxonomy close at hand, but of paramount importance is its application when designing instruction. This hierarchical framework makes clear the type of thinking and doing that students should be capable of in order to achieve a learning target. To use Blooms taxonomy, set learning goals for a lesson or unit by first fitting student work into each level. These levels can be used to decide what types of thinking and reasoning you want students to be doing at the introduction of a lesson and what types of thinking and reasoning students must be able to do upon a lessons conclusion. This system will help you include every level of critical thinking necessary for total comprehension without skipping any critical levels of development. Keep the intended objective of each level in mind as you plan questions and tasks. How to Design Tasks and Questions When designing questions and tasks, consider: Are students ready to think for themselves about this yet? If the answer is yes, they are ready to analyze, evaluate, and create. If not, have them do more remembering, understanding, and applying. Always take advantage of opportunities to make student work more meaningful. Bring personal experiences and authentic purpose into the questions that students are answering and tasks that they are doing. For instance, have them remember the names of important figures from local history or create solutions to problems that the students in their school face. As always,  Ã¢â‚¬â€¹rubrics are important tools for ensuring fair and accurate grading across the board. Keywords to Use Use these keywords and phrases to design effective questions for every level. Bloom's Taxonomy Key Words Level Keywords Remembering who, what, why, when, where, which, choose, find, how, define, label, show, spell, list, match, name, relate, tell, recall, select Understanding demonstrate, interpret, explain, extend, illustrate, infer, outline, relate, rephrase, translate, summarize, show, classify Applying apply, build, choose, construct, develop, interview, make use of, organize, experiment with, plan, select, solve, utilize, model Analyzing analyze, categorize, classify, compare/contrast, discover, dissect, examine, inspect, simplify, survey, distinguish, relationships, function, motive, inference, assumption, conclusion Evaluating build, combine, compose, construct, create, design, develop, estimate, formulate, plan, predict, propose, solve/solution, modify, improve, adapt, minimize/maximize, theorize, elaborate, test Creating choose, conclude, critique, decide, defend, determine, dispute, evaluate, judge, justify, measure, rate, recommend, select, agree, appraise, opinion, interpret, prove/disprove, assess, influence, deduct Key words to include in questions for each level of thinking Help your students become critical thinkers by using Blooms taxonomy. Teaching students to remember, understand, apply, analyze, evaluate, and create will benefit them for the rest of their lives. Source Armstrong, Patricia. â€Å"Blooms Taxonomy.†Ã‚  Center for Teaching, Vanderbilt University, 13 Aug. 2018.Bloom, Benjamin Samuel.  Taxonomy of Educational Objectives. New York: David McKay, 1956.

Business Law A Case Study - 1531 Words

Business Law In business law, there are a number of procedures that are used in settling disputes. For cases, under $5,000.00, small claims court is utilized as a way to effectively litigate potential issues and come to a solution in a cost effective manner. This is when there are no attorneys present. Instead, each party will present their side of the story to the judge. They will bring forward their own witnesses and evidence to support their case. (Warner, 2012) To fully understand how it works requires carefully examining a case in small claims court. This will be accomplished by focusing on the citations, facts, issues, court decision and legal reasoning. Together, these elements will highlight how this process works and the way various findings are reached by the judge. (Warner, 2012) Citation of the Case The name of the court where the proceeding took place is the Superior Court of California in the County of San Francisco. The case that was being decided is Robin Hunt vs. Depuy Orthopedics Inc under CGC-12-52164. It occurred on June 4, 2013 at 10:30 AM. The people who were inside the court room were mainly the defendant, plaintiff, the witnesses, the judge and bailiff. (Robin Hunt vs. Depuy Orthopedics Inc, personal communication, June 4, 2013) Facts In this case, Patricia Hunt filed a lawsuit against Depuy Orthopedics Inc of Indiana. She claimed that she purchased a prosthetic limb and it did not function the way it was suppose to. Instead, it continued toShow MoreRelatedBusiness Law Case Study1437 Words   |  6 Pagesï » ¿Business Law Case Study Module 4 PLAINTIFFS STATEMENT: The Parties – Alex Johnson vs. Bethlehem Ice Solutions    Opening Argument    Those familiar with skiing know that there are risks involved when one chooses to participate in the sport.   Those risks, however, should be associated with self-inflicted harm caused by mistakes that a skier may make and not unforeseen obstacles and dangerous situations.   The injuries sustained by Alex Johnson on the slopes at Bethlehem Ice Solutions (BIS) were notRead MoreBusiness Law Case Study1954 Words   |  8 PagesCase Jonathan, a moneylender makes a loan of $1,000 to Sheba on Sheba’s representation that she is 19 years old. Sheba is in fact 17 years old. She enrolled for diploma course with a private college for $500, spent $200 on a holiday, and the balance of $300 on a mini hi-fi set. She now refuses to pay Jonathan. 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This was no simple order though, in fact Biff intended on starting a bike patrol unit within the local department. Biff went to Dirks Bicycle shop to place an order. The order was for five mountain bikes to be used for patrol so they had to be custom made in order to sport the police decals. Biff was very familiar with the SchwinnRead MoreBusiness Law Case Study1411 Words   |  6 PagesCase Summary: -Bob owns a Jewelry store -Sam operates electronic security equipment store -Bob and Sam are friends -Monday, Bob held a casual conversation with Sam about fitting his store with closed circuit television and the best available electronic locks -Tuesday, Sam sent Bob a Quotation of price Lists of models and List of price -Wednesday, Bob Replied BY POST. Choice of Supreme Model for camera -Posted to old address, Sam received on Saturday and emailed on the same day Read MoreBusiness Law Case Studies1035 Words   |  5 Pagesoriginal contract was agreed upon does not equate to fresh consideration. As addressed in Roscorla v Thomas, assurance was given after the contract was agreed upon and therefore, the plaintiff was unsuccessful in court. The same would apply to Bonnie’s case. Problem 3 a) Could both Michael and David sue Yvette for breach of contract when a contract existed only between Michael and Yvette, and if both contracting parties provided consideration? b) The rules that only a promisee can sue on a contractRead MoreBusiness Law Case Study1259 Words   |  6 Pages Case Study Case 1 A Sydney tramway passenger was injured in a collision with another tram, which occurred after the driver collapsed at the controls. The plaintiff argued that the collision could have been avoided if the tramway authority had fitted the tram with a system known as ‘dead man’s handle’, a system in use on Sydney’s trains. This would have stopped the tram and avoided the accident. The device had been rejected by the tramway authorities because it was felt that it could cause driversRead MoreCase Study : Business Law Case1557 Words   |  7 PagesBusiness Law Case 1: Kate is the owner of a successful business, selling women’s shoes. Her business is expanding fast and she wants to upgrade her business structure to a more appropriate one. What would be your recommendation to Kate and why? What are the factors that influence you with this advice? Solution/Advice 1 Choosing a Corporation/Company Structure - the business structure of a company/ corporation is highly recommended, it has the flexibility to gain more capital, or credit capabilityRead MoreBusiness Law - Case Study1905 Words   |  8 PagesTimber Yard. He made known to Frank, the sole proprietor, the purpose and requirement of the materials and placed an order. John signed a standard form contract and paid a deposit. Two months later, problems arose which caused John to delay his business. John incurred financial losses. B. IDENTIFYING THE ISSUES 1.0 CONTRACT BETWEEN JOHN FRANK. It is obvious that there is a contract for the sales of goods between Frank and John. Therefore, terms implied by statute into the sales ofRead MoreBusiness Law - Case Study Assessment1310 Words   |  6 PagesBusiness Law --- Case Study Assessment Question 1: A.Register an Australian company through a number of business service providers who use software that deals directly with ASIC. Firstly, search business directories or the internet for ‘shelf company services’ or ‘Australian company registration’. Because these providers can also offer full company secretarial services covering registers, consents and share certificates. At the same time, we can complete the Application for registration as an Australian

Short Long Term Career Goals Free Essays

Education has always been an important aspect of my life. Although there have been trials and tribulations I have surmounted them. My story is not one of a privileged life not wanting or wishing for anything. We will write a custom essay sample on Short Long Term Career Goals or any similar topic only for you Order Now Instead it is a dream, a dream to be able to fulfill what is my destiny. On December 14, 2005 I will have my associate’s degree; it has been a long time coming, and it is finally here. I have managed to maintain full time work to support myself and my family while attending to school to accomplish one of my life long dreams. By attending Drexel this would not only afford me the opportunity to continue my dream of furthering my education but it will also allow me to advance in my industry. My short term career goals include furthering my education in business administration; Drexel will allow me to do that. Long term Drexel will give the tools, confidence, and background necessary to advance even further in my career goals. Business has been my passion for a number of years, Drexel will allow me to have more of a hand on approach, and it will allow me to be even more of a key player in the business industry. Over time my goals continue to grow and advance, Drexel will allow me to make my current goals a reality and work toward my future goals and the ones that I will create in the future. The main way that Drexel would help me with my current and future goals is through affording me a great education, with a wonder staff and plentiful resources as my disposal. These tools are priceless, and impossible to truly measure. All I can say is that it is my beliefs that Drexel is the best place for me to continue my education. Through researching the school and the programs that are offered through Drexel, I believe that the business program best suits my life style. The program allows flexibility which is extremely important in my life. My short term career goals include: advancing my knowledge base in the field of business administration, balancing work and family, becoming more confident in my abilities as a degreed professional, learn how to deal more efficiently in my professional life and personal life. Drexel can help me reach these goals by, affording me the opportunity to have a flexible school schedule, by teaching me the necessary tools to needed to become more confident in my personal and professional abilities, giving me a platform to increase my skills in business as well as interpersonal skills necessary to survive in the business world. Long term goals include, advancing into a higher position with my current employer, or possibly starting my own business, becoming a motivator and teacher to others through my knowledge and experience. Drexel can aid me in reaching these long term goals in the same ways that Drexel can help me reach the short term career goals. One is through allowing a platform to gain further education in the field of business. By advancing my knowledge in the field of business, I hope to be able to be an inspiration to others, as well as have the tools necessary to be effective in my endeavors as well as help others obtain their lifelong goals. Drexel University is the perfect fit for me. I know that if I am allowed to become a part of the student body all of my dreams will become realities. There is no where to go but up with a Drexel education. If given the opportunity you will not be disappointed. I give every endeavor 100%! Education is necessary in continuing my goals. My Bachelors is just the beginning, just a single step leading up the stairway of my lifelong dreams. Thank you in advance for considering me for your Bachelors program. How to cite Short Long Term Career Goals, Papers

Macroeconomics Deak with Various Theories

Question: Discuss about the Macroeconomics for Deak with Various Theories. Answer: Introduction Various theories in macroeconomics have been created to deal the great depression analysis. One of the central theory that analyses such results is the classical theory of Keynes. Keynesianism was named after John Maynard Keynes . He is also known as the father of modern economics. When the great depression had struck, it had become very important for all the economists to analyse the situation and reason the happening in the world. Keynes, however came up with a classic explanation that was agreed by many. The theory was too easy to be understood and was named as the simple Keynesian model (Asensio and Atesoglu 2014). Keynes issued various issues and remedies for the government and the people of the economy to deal in such situations. Yet, Keynes explanations was not enough. Some loopholes were found by various economists it eh later period. Some of the famous economist are Milton Friedman and Robert Lucas (Duarte 2016). As stated by Sumner (2015), Milton Friedman showed that there is no stable relationship between unemployment and inflations. According to his theory, policymakers face short term tradeoffs due to private sectors failure to adapt the change in environment. There are long term costs that are exploited in order to settle the short term tradeoffs. The theory of Milton Friedman, adaptive expectations, was further formulated and modernised by Robert Lucas in his theory of rational expectations. In this report, we analyse the three different theories of Keynes, Friedman and Lucas and in the fourth and fifth section, the difference between Friedman and Keynes and Lucas and Keynes is analysed. Keynes According to Pressman (2013), in the general theory formulated by Keynes, he suggested that the national income depends on the volume of employment. Keynes also showed in his model that involuntary unemployment is consistent in equilibrium. The principle theory of effective demand states that in a closed economy and spare capacity, the level of employment is determined by aggregate planned expenditure, that consists of consumption expenditure and investment expenditure from firms. Hence the equilibrium condition can be stated as E= C+I. According to Rozmainsky (2013), in Keynes model consumption expenditure is endogenous in nature which depends on the income and the interest rate, whereas, the investment expenditure depends on the expected probability of investment and interest rate. Therefore, in this model, employment becomes dependent on investment expenditure which is an unstable factor. In calculating the equilibrium, expectations of future levels of demand and costs are involved that allows hopes and fears, to influence the decision. Expectations of future investment is considered as far more important than the interest rate in linking the present and future as the level of output and employment depends on the level of investment. The extreme precariousness concerned with the prospective yield of the investment decision is based on the Keynes explanation of the business cycle. The consumption function is written as C = a+Cy , hence the equilibrium condition stated in equation 1 can be written as Y = a + Cy + I. Y =( a+I) /(1-c ) Y= (a+I) K In this final equation, k is the investment multiplier, which shows that when there is an increase in investment, the income will increase by k times. The larger the investment multiplier would be, the smaller would be the marginal propensity to save. Hence, the multiplier would now depend on marginal propensity to consume, c. This shows that with a shift in demand, income will rise by an equivalent amount initially, but that would raise the consumption level too. And this process would keep on repeating that would further raise the income. Hence it can be concluded that an increase it eh autonomous spending raises the output and employment level. From the level lesser than full employment, with the increase in autonomous spending, there would be an increase in investment, that would lead to an increase in employment . The newly employed people would consume some of their income an save the rest. The increase in the demand for goods would also increase employment and would further ra ise the expenditure. This shows how an initial rise in investment, raises the level of proportionate income. There are various factors that could limit the size of the multiplier effect, like increasing the rate of interest adverse effect on confidence and leakage of expenditure into taxation and imports in an open economy (Palley, Rochon and Vernengo 2016). Keynes rejected the idea that the interest rate was determined by the real forces of thrift and the marginal productivity of capital. Interest rate is purely addressed as monetary phenomenon determined by the liquidity preference. In order to hold money, Keynes added precautionary and speculative motives. In Keynes model, the proposition that quantity of money is neutral is rejected. According to the model, an increase in the money supply as a result of reduction in rate of interest can be affect aggregate spending. As stated by Sneessens (2012), according to Keynes model, in order to save to increase the investment, was to reduce the aggregate instability was to find the stabilizing investment expenditure at the sufficient level. Keynes model was moderately conservative and at the same time implies a large extension of traditional functions of the government. Friedman As stated by Gal (2015) , Milton Friedman introduced monetarism which had a better and precise analysis of the way the effects of changes in the rate of monetary expansion were divided between real and nominal magnitudes. Keynesian ideas were contradicted by Friedman , where Friedman stated the initial Phillips curves was a misconception. He said that Phillips curve must not be set in terms of rate of change of real wages. Phillips curve can be expressed as W = f(U) +PE This shows how the rate of money wage increases depending on excess demand and expected rate of inflation. Figure 1 : The Expectations Augmented Phillips Curve According to figure 1, suppose the economy is initially at short run Phillips curve 1 (Srpc1) at point a, and the corresponding unemployment level is un with rate of interest as 0, expected rate of inflation would be 0, hence w is the expected rate of inflation that is 0 percent. Suppose that unemployment decrease from UN to U1 by increasing aggregate demand as a result of monetary expansion. With the result of excess demand, an upward pressure on the price and money wages would be generated. Workers would be misled by the increase in real wage, they would supply more labour. They would suffer from temporary money illusion. In reality, real wage would rather fall and with the demand of more labour, unemployment would fall. The real situation of inflation sets in and the curve shifts from SRPC1 to SRPC2. Hence, it can be seen that the actual rate of inflation is completely anticipated and there would be no long run trade off between unemployment and wage inflation. The points a and c together, a long-run vertical Phillips curve is obtained at the natural rate of unemployment (UN). At un, the increase in money wages is equivalent to the increase in prices, so the real wage rate is constant. Natural rate of labour market is in equilibrium and inflation is fully estimated (Hommes 2013). As per Nelson (2013), Friedman allowed to reconcile the classical theory with respect to the long run neutrality of money, still money to have real effects in the short run. According to Friedman, inflation rates become increasingly volatile at higher rates of inflation. This increase volatility results in uncertainty. This also results in the rise of unemployment as the productivity decreases and price system becomes less efficient. Uncertainty also leads to fall in investment and decrease in employment. With the increase in inflation rates, government tend to intervene more by imposing wage and price controls which further reduces the efficiency and increases unemployment. There is a positive relation between inflation and unemployment in the economy. Once the economy is successful in adjusting the high and volatile inflation, it can return to it natural rate of unemployment efficiently. Lucas In 1970, a new approach has been initiated by Lucas to study the fluctuations. He advocated the equilibrium approach to business cycle modelling. In Keynesian model, market fail to clear and gross domestic product can vary from its initial level to extended period of time. According to Lucas monetary changes have real consequences, but only because agents cannot discriminate perfectly between monetary and real demand shifts, so there is no usable trade off between inflation and real output. According to Lucas, business cycles are serially correlated movements that depends on trends of real output. Lucas is considered as a new classical monetarist based on his explanation of business cycle (Shaikh 2013). According to Lucas model, monetary shocks are the main cause of aggregate instability and there is a confusion based on the relative and general price movements. The supply of output Y has both permanent component Yn and cyclical component Yc. So, YT = YN + YC. In cyclical component, there is a lagged out term that recognizes the deviations in output. The combination of rational expectation hypothesis and surprise supply function denotes that the output and employment would fluctuate randomly around their self levels (Gabisch and Lorenz 2013). Friedman vs. Keynes According to Palley (2013), One of the famous critiques of Keynesian model was Milton Friedman,. He accepted the definitions of recessions but rejected the method of treating them. According to Friedman, government should keep the money supply steady, thereby expanding it slightly only to allow the yearly growth of the economy. Inflation, employment and output would adjust themselves accordingly. He names such a theory as monetarism. Monetarism was tried in great Britain during the 80s, but it lost its worth. According to the theory, British economy would have enjoyed low inflation and high stability, but it reality, it went the other way. At first the economy as in deep recession, but then when inflation came down, unemployment level rose. Eventually bank of England had to abandon monetarism. Contradicting to the experience in England, monetarism was also followed in United States. This was just a cover story, ultimately the government was following the Keynesian model only. Whereas, unlike the case in great Britain, America experienced the direct contrast to England. As a result, many economists abandoned monetarist theory (Schwarzer 2016). Another famous theory of Friedman is the theory of natural rate of unemployment. When the price increases in accordance with the increase in money wage, people do not mind paying extra. This is called neutrality of money. Inflation of these kinds are considered harmless to the society. But, this is not the scenario of the society. According to Friedman, this is o because the public are unaware of the expansion. When they receive extra money as their wages, it was transformed into more economic activity an not higher prices (Snowdon and Vane 2005). According to Friedman, it is not possible to wipe out unemployment with the help of monetary policy, as Keynes theory suggested. Instead, it shows that monetary policy would keep the unemployment at 6%, which is the natural rate of unemployment when inflation prevails in the country. Lucas vs. Keynes According to Gaffeo, Gallegati and Gostoli (2015), an even greater attack on Keynesian theory was done by Robert Lucas, with the help of its theory of rational expectations. There are two main segments to rational expectations. The first one is that recessions are self adjustable. Once people start holding money, it gets quite difficult for them to notice that recession is coming. It is so because, individual businessmen know that they are making less money, but they may take time to sink the fact that everyone is experiencing the same thing. When prices fall, purchasing power of money raises, hence at that point f time, government should simply wait for recession to correct itself. The second segment relation to rational expectations is that, government intervention might lead to ineffectiveness to harmful in nature. Any government who plans to expand the money supply cannot stand in front of business mans decision to cut prices away. Keynesians are robbed of this argument since, Lucas predicted how the government is not much faster than discovering the problem than anyone else (Lucas et al. 2013). As stated by Sargent (2013), though the works of Lucas had been valued in 70s, yet there have been noticed two flaws in the theory. Firstly, it is not feasible to believe that business man determine the rices of the goods by following the macroeconomic trends and secondly, recessions last for many years. Lucas failed to help the business man acknowledge the leading economic indicators and yet they were ignorant of the fact of being in recession. Conclusion Simple Keynesian model postulated by Keynes is the easiest model of macroeconomics that had dealt in the times of great depression and had provided with some injections, issues and solutions to the problems. Later on, some economists found loopholes in the simple model of growth , and they introduced monetarism in the society. Such economist re like Milton Friedman. Milton Friedman found out how unemployment and inflation are two different aspects and are never able to achieve stability. Friedman model had been further reconsidered and modernised in Lucas rational expectation model and business theory model. Hence, it has been seen how various economist with the change in time have noticed the change in the macroeconomics issues of the economy. This has led them formulate better versions of models from the past. As stated by Leith, Moldovan and Rossi (2012), by the middle of 1980s, it was proved that neither monetarism nor rational expectations were ideal theories. Hence, the Neo Keynesian model started making a comeback. Today neo Keynesian has reached its prominence. People are nowadays not very rational but, rational in nature. They do not weigh unemployment rate, inflation rate or monetary rate, yet they do keep a small information and act accordingly (De Vroey 2016). With the help of this report, we see how each economist had their own expectations regarding the output and employment level. Each had a better perspective than the other. Each formulated their own theories and helped the society to educate themselves by advocating the new theories and contradict ting the old ones. Macroeconomics trends have been considered as the base of any economic fluctuations and function of the economy. It helps in analysing the effects of change with the help of different theories that holds different perspectives and expectations. References Asensio, A. and Atesoglu, H.S., 2014. Accounting for uncertainty in a simple Keynesian model.International Journal of Pluralism and Economics Education,5(1), pp.24-39. De Vroey, M., 2016.A history of macroeconomics from Keynes to Lucas and beyond. Cambridge University Press. Duarte, P.G., 2016. Macroeconomists as Revolutionary Schoolmates. Comments on Michel De Vroeys A History of Macroeconomics from Keynes to Lucas and Beyond.conomia. History, Methodology, Philosophy, (6-1), pp.129-137. Gabisch, G. and Lorenz, H.W., 2013.Business cycle theory: a survey of methods and concepts. Springer Science Business Media. Gaffeo, E., Gallegati, M. and Gostoli, U., 2015. An agent-based proof of principle for Walrasian macroeconomic theory.Computational and Mathematical Organization Theory,21(2), pp.150-183. Gal, J., 2015.Monetary policy, inflation, and the business cycle: an introduction to the new Keynesian framework and its applications. Princeton University Press. Hommes, C., 2013.Behavioral rationality and heterogeneous expectations in complex economic systems. Cambridge University Press. Leith, C., Moldovan, I. and Rossi, R., 2012. Optimal monetary policy in a New Keynesian model with habits in consumption.Review of Economic Dynamics,15(3), pp.416-435. Lucas, R., Mortensen, D., Shiller, R. and Wallace, N., 2013. Rational Expectations: Retrospect and Prospect.Macroeconomic Dynamics,17, pp.1169-1192. Nelson, E., 2013. Friedman's monetary economics in practice.Journal of International Money and Finance,38, pp.59-83. Palley, T., Rochon, L.P. and Vernengo, M., 2016. The relevance of Keynes's General Theory after 80 years.Review of Keynesian Economics, (1), pp.1-3. Palley, T.I., 2013. Monetary policy and central banking after the crisis: the implications of rethinking macroeconomic theory. InFinancialization(pp. 182-200). Palgrave Macmillan UK. Pressman, S., 2013.Fifty major economists. Routledge. Rozmainsky, I.V., 2013. A simple Post Keynesian model of investor myopia and economic growth.Montenegrin Journal of Economics,9(3), p.45. Sargent, T.J., 2013.Rational expectations and inflation. Princeton University Press. Schwarzer, J.A., 2016. Keynes and Friedman on Laissez-Faire and Planning: Where to Draw the Line?. Shaikh, A., 2013. On the role of reflexivity in economic analysis.Journal of Economic Methodology,20(4), pp.439-445. Sneessens, H.R., 2012.Theory and estimation of macroeconomic rationing models(Vol. 191). Springer Science Business Media. Snowdon, B. and Vane, H.R., 2005.Modern macroeconomics: its origins, development and current state. Edward Elgar Publishing. Sumner, S., 2015. What Would Milton Friedman Have Thought of the Great Recession?.American Journal of Economics and Sociology,74(2), pp.209-235.