1. Macroeconomic Themes:31 Lucas Critique and the Essence of New Classical Approach: Rational expectation

2. Macroeconomic Themes:32 There are five essential features in a New Classical model

3. Macroeconomic Themes:33 Aggregate Supply and Technology Shock

4. Macroeconomic Themes:34 A Simple long run new classical macro economic model with the productivity shock (very similar to Ramsey (1927) problem)

5. Macroeconomic Themes:35 Aggregate supply

6. Macroeconomic Themes:36 Price Movement and Monetary Policy Rule

7. Macroeconomic Themes:37 Expected and Actual Prices

8. Macroeconomic Themes:38 Policy Irrelevance Proposition

9. Macroeconomic Themes:39 Policy Irrelevance Proposition

10. Macroeconomic Themes:310 How to Test a Rational Expectation Model?

11. Macroeconomic Themes:311 What do other economists think of this conclusion?

12. Macroeconomic Themes:312 Adaptive Expectation

13. Macroeconomic Themes:313 Adaptive Expectation

14. Macroeconomic Themes:314 Adaptive Expectation

15. Macroeconomic Themes:315 References