Macroeconomics the development of modern methods for policy analysis paperback march 31 2014 by william scarth author 50 out of 5 stars 1 rating see all formats and editions hide other formats and editions amazon price new from used from. Macroeconomics the development of modern methods for policy analysis william scarth edward elgar publishing jan 31 2014 business economics 336 pages. Macroeconomics the development of modern methods for policy analysis william scarth this important textbook offers a comprehensive look into the two main traditions in contemporary macroeconomics new classical and keynesian and examines the work of economists who have drawn on principles from both traditions to form a new integrated approach known as new neoclassical synthesis. 32 uncertainty in traditional macroeconomics 42 33 adaptive expectations 51 34 rational expectations basic analysis 53 35 rational expectations extended analysis 58 36 conclusions 63 4 the micro foundations of modern macroeconomics 67 41 introduction 67 42 the lucas critique and related controversies 67