Branches of economics

Basic Concepts-Macroeconomics

Interest Rates: Interest rates go higher when inflation is higher and vice versa. With the surge in the price level, each currency unit can purchase fewer products and services than before by implying a reduction in the currency’s purchasing power.
People intend to protect their investment’s returns in a period of high inflation, so they demand higher interest for excessive funds. 
Exchange Rate- Higher inflation in a country as compared to another country brings currency depreciation.
This branch of economics considers the foundation of modern economics. this branch is founded by David Ricardo, Adam Smith. This is based on.

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  The activity of free markets. How the undetectable hand and market instrument can empower an effective portion of assets. 
  
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  The economics work most productively when government intercession is insignificant and worried about the security of private property, the advancement of international commerce, and restricted government spending. 
  
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  classical economics matters perceive that a government is required for giving open products, for example, law and order, defense, and education.
  

Neoclassical economics was founded by Willian Jevons, Leon Walrus, John Hicks, and George Stigler. This branch is built on the foundation of the free-market related to classical economics. Some ideas include.

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  Rational choice theory
  
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  Marginal analysis
  
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  Utility maximization.
  

Neo-classical economics is also known as orthodox economics. It also publish in many textbooks as the economics is the teaching starting point.
Keynesian Economics
The creation of this branch is by John Maynard Keynes, Paul Samuelson. Keynesian financial aspects was develop during the 1930s against a background of the Great Depression. The current monetary conventionality was at a misfortune to clarify the tenacious financial downturn and mass joblessness. Keynes proposed that business sectors neglected to clear for some reasons (for example mystery of frugality, negative multiplier, low certainty). In this way, Keynes upheld government intercession to launch the economy. 
Keynesian financial matters are acknowledged with making macroeconomics as a particular report. Keynes contended in which the total economy may work together in different manners to singular markets and various principles and strategies requests.