Hi, Could you help me write reflective journal on the topic "Classical and Neoclassical Economics"

Your reflective journal practice should consider some or all of the following: 0 Does this learning experiences connect with, or relate to, other learning experiences you have had - What challenges did you experience when engaging with this concept/ topic 0 What is your personal opinion of this concept [topic 0 What is the relevance / application of this topic in the broader context of your study - What questions did this topic raise for you that makes you curious and motivates you to explore more See below for a sample reflective journal post with annotations to help guide your writing: Reflective Journal Example Last week's lecture presented the idea that science is the most powerful form of evidence [1]. My position as a student studying both physics and law makes this an important issue for me [2] and one l was thinking about while watching the 'The New Inventors' television program last Tuesday [3]. The two 'inventors' (an odd name considering that, as Smith (2002) says, nobody thinks of things in a vacuum) were accompanied by their marketing people. The conversations were quite contrived, but also funny and enlightening. I realised that the marketing people used a certain form of evidence to persuade the viewers (us?) of the value of the inventions [4]. To them, this value was determined solely by whether something could be bought or soldin other words, whether something was 'marketable'. In contrast, the inventors seemed quite shy and reluctant to use anything more than technical language, almost as if this was the only evidence required as if no further explanation was needed. This difference forced me to reflect on the aims of this coursehow communication skills are not generic but differ according to time and place. Like in the 'Ftesearch Methodology' textbook discussed in the first lecture, these communication skills are the result of a form of triangulation, [5] which I have made into the following diagram: (add concept map here) 1. Description of topic encountered in the course 2. The author's voice is clear 3. Introduces 'everyday' life experience 4. The style is relatively informal, yet still uses full sentences 5. Makes an explicit link between 'everyday' life and the topic RMIT Classification: Trusted Classical economists assumptions a free-market capitalist economic system is a self-regulating economic organ system governed by the natural laws of production and exchange. economic a capitalism. The Economy is self regulating trade and "Laissez faire" "invisible hand" private . Inadequate demand is not a problem in the economy . Wage rates are flexible both up and down cononRMIT Classification: Trusted Neoclassical Marshall, Jevons, Menger, Walras . Marginal analysis - last unit of analysis . General equilibrium -variables mutually interdependent remain at rest until exogeneous force . Rationality - individuals can identify and choose the best option . Price theory . Utility . A priori theorizing