Product Overview

This technical note introduces the basic structure of the IS\LM and AS\AD models for a closed economy (i.e., one that does not engage in international trade). It is a useful complement for the more in-depth presentation of these models commonly found in an economics textbook.

Learning Objectives

This note is designed for use in the early stages of a general macroeconomics course. As students grow more comfortable with these two models, they will be able to integrate them to analyze the global macroeconomy.