In this book, we attempt to make a comparative evaluation of modern macroeconomic schools: Monetarism and New Classical School based on the Classical System that envisage automatic full employment or natural rate of unemployment (NRU) equilibrium (AFNE or ANRUE) vs. New Keynesian and Post-Keynesian Economics based on the Keynesian System which gives unemployment equilibrium (UNE) or non-automatic NRU equilibrium (NANRUE) due to insufficiency of aggregate demand.

In order to determine which school is relevant, first the basic assumptions of these systems are compared: i) rational vs. adjusted vs. heterogeneous expectations, ii) existence of perfect competition in all markets leading to flexibility of prices and wages vs. imperfect competition giving rise to rigidities, and iii) presence or lack of coordination between markets.

In the final phase of our evaluations the performance of the developed economies are surveyed to establish whether we meet with AFNE or ANRUE or else UNE or NANRUE; and whether policy prescriptions devised by respective schools solve or alleviate the problem at hand when implemented.

Our investigations point out that New Keynesian and Post-Keynesian schools are more relevant compared to Monetarism and New Classical School. The choice between New Keynesian and Post-Keynesian Economics, however, is more difficult to make although New Keynesian Economics seems more widespread than Post-Keynesian Economics. Objectively, Post-Keynesian assumptions seem more realistic; normatively, however, New Keynesian stands seems more fit to the present day move towards globalization.

Intense competition, fast changing technology, increased and diverse customer demand, and fast and reliable services and goods delivery expectations have reduced the profit margins for products. To be able to obtain a sustainable economic success, companies search for ways to offer the existing products via innovative ways. Revenue management is a tool that helps firms in this purpose. On the other hand, to match and even exceed customer anticipations, firms need to understand customer preferences and offer products accordingly. Customers can now reach wide range of competitor products due to online services. Hence it became much more important to apprehend and integrate customer choices into decision support tools. At this point, choice models are used to mathematically understand the customer choice preferences among a set of presented alternatives. This book combines revenue management and choice models to present a methodology to understand customer choices and integrate these to revenue management methods to be able to offer the best set of products to the customers. Also real life applications for hotels have been presented for different methods that are discussed and also proposed in this book with respective algorithms. When combined with decision support tools, concepts presented in this book offers a significant revenue increase for companies.