01. Overview of Course Content (Vocab)

paradigm = model, conceptual perspective or approach, way of thinking [context:  the various, differentiated ways of thinking regarding how the economy works]  

defenestration (noun) = throwing a thing out the window [context:  discarding economic paradigms that no longer reflect reality]

to jettison = to totally discard [context:  same as above]

secular trend (noun) = opposite of cyclical or volatile pattern [context:  the absolute/discovery view of the evolution of economic thought]

metaphysical (adjective) = beyond the strictly, purely physical realm [context:  in this course, I will use word many times]

autonomously (adverb) = all by itself [context:   the fashion in which full employment is restored, according to the classical macroeconomists]

halcyon = golden, prosperous, affluent [context:  the 'good old days' of macroeconomic performance between 1945 and 1973]

Scylla and Charybdis = between two equally hazardous alternatives (in Greek mythology, the former was a rock, while the latter was a whirlpool) [context:  stabilization policy that successfully avoids the competing hazards of high inflation and high unemployment]

riposte = a quick return thrust following a parry (in fencing / sword fighting)  [context:  the conservative critique of the Keynesian model ]  

canon = a generally accepted principle; a group of literary works that are generally accepted as representing a field; The works of a writer that have been accepted as authentic; a collection of books accepted as holy scripture especially the books of the Bible recognized by any Christian church as genuine and inspired [context:  the basis of an economic doctrine]  

tenet = a principle or belief, especially one of the main principles of a religion or philosophy 

salient = most noticeable or important; prominent; conspicuous