Wednesday, 9 October 2013

Economics for Real People: How Economies Grow And Why They Crash - Part Two

Here’s what our friends at the Auckland Uni Economics Group are up to this week. Why don’t you head along?

Hi all,
A couple of weeks ago we looked at some of the ideas as to what economic growth looks like, and some explanations as to how it occurs. Namely, we explored and compared the growth models of some the key schools of economic thought.
    In this week’s seminar, we continue this discussion by looking at why economies crash. i.e., the bust component of the 'boom/bust cycle' that is said to be a natural process of mature economies.
    We will explore why bubbles burst, why booms turn to bust, and why growth turns to capital consumption.
    In particular, we will look at the respective explanations provided by Keynes and Hayek as to what causes (and often prolongs) downturns, by way of comparison.
    Don’t miss this discussion, which should help integrate the material we’ve looked at over recent sessions (although you need not have attended prior sessions to find this week’s discussion valuable).
    When: Thursday, October 10
    Where: Room 215, Level Two, Owen G Glenn Building,
                      Grafton Rd
    Time: 6pm-7pm
All welcome. We look forward to seeing you there.

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