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In economics, the consumption function describes a relationship between consumption and disposable income. The concept is believed to have been introduced into macroeconomics by John Maynard Keynes in 1936, who used it to develop the notion… The demand substitutability of the goods and services will help in defining the product market and it can be access by the ‘hypothetical monopolist’ test or the ‘Ssnip’ test .

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These might for example include institutional, evolutionary, Georgist, Austrian, feminist, social, post-Keynesian (not to be confused with New Keynesian), ecological, Marxian, socialist and anarchist economics, among others. It is pervaded with an air of mistrust for the rationality of free-market decision making. The process of mixing these schools is referred to as the neoclassical synthesis, and Neo-Keynesian economics may be summarized as "Keynesian in macroeconomics, neoclassical in microeconomics". The demand substitutability of the goods and services will help in defining the product market and it can be access by the ‘hypothetical monopolist’ test or the ‘Ssnip’ test . Economics has two broad branches: microeconomics, where the unit of analysis is the individual agent, such as a household or firm, and macroeconomics, where the unit of analysis is an economy as a whole. While Colander is critical of DSGE, he has not focused on the Achilles heel of that, as well as other approaches that claim to have provided micro foundations for macroeconomics.

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