In this paper, a set of simple numerical examples are used to illustrate the essence of the life cycle-permanent income hypothesis and Ricardian equivalence. The level of mathematical sophistication required of the reader is nothing more than grade school arithmetic. Since the simple Keynesian...

In this paper, it will be demonstrated that a "dollar for dollar" crowding out of national investment caused by increased government spending is not just something that occurs within classical macroeconomic models. The reason for this is that in a closed economy Keynesian cross model with...

In the last thirty-five years, the course in intermediate macroeconomics has become more difficult, both for the student to learn and the instructor to teach. In this paper, some simpler approaches are presented to teaching the following topics: the distinction between private, public, and...