In class we will briefly review chapter 25, "The business cycle", and more closely examine chapter 26, "Keynesianism and Monetarism", of the book "English for Business Studies", by lan MacKenzie (in the Lehrbuchsammlung: HO 232 M156, but you can choose the newer version).

Please borrow this book from the Lehrbuchsammlung, as we will be refering to it in class for the rest of the semester. Review chapters mentioned above and complete any exercises that were not completed in class.

*optional : Read to the following two texts in the order given

1.   Obama Gives Keynes His First Real-World Test
 2.  Why Keynes Was Wrong

and then list the arguments for and the arguments against a Keynesian program