Request PDF | Schools of Thought in Macroeconomics: The Method Is the Message | 'We are all monetarists now' (Laidler, 1981, p. 31) | Find, read and cite all the research you need on ResearchGate Rational Expectation; Nominal Wage; we can recognise the principles guiding each of the three schools of thought independently of current theoretical discussion. Yet on reflection we may see these principles continuing to guide modern developments in each of the three traditions. Schools of Thought in Macroeconomics: The Method Is the Macroeconomic Schools of Thought Macroeconomics is concerned with issues, objectives and policies that pertain to the overall economy. It focuses on economic aggregates or grand totals that relate to the entire economy. Basically it is how all the elements of an economy function together. Classical schools of thought are known as supply-side economists because they were of the opinion that whatever is produced, nothing remains unsold. The market is always in equilibrium, there is a quick adjustment in wages, prices, and interest rates, and there is a lesser role for the government. Through economic freedom and free competition