PPT-Business Cycles, Unemployment, and Inflation

09 McGrawHillIrwin Copyright 2012 by The McGrawHill Companies Inc All rights reserved The Business Cycle Alternating increases and decreases in economic activity over time Phases of the business cycle. Maritta Paloviita and Matti Viren. Bank of Finland and . University. of Turku . Basic idea. The . basic idea . is . an attempt to see whether the Phillips curve has shifted due to the  EMU (better anchoring of expectations . Taking a look at the “BIGGER” picture.. TOPICS COVERED:. GDP. CPI. Inflation. Stagflation. Aggregate supply. Aggregate demand. Calculations for economic growth, inflation, and unemployment . Structural, cyclical, and frictional unemployment. Swings in the. Economic Pendulum . Instability in the . Growth . of Real . GDP: 1960-2015. Although real GDP in the . United States has . grown at an average rate of approximately 3%, the growth has been characterized by economic ups-and-downs. Indicators. Economic Disasters. Supply-side Economics vs. Keynesianism. Vocabulary. Wednesday. GDP/GNP. Business . Cycles. Expansion. Peak. Recession. Trough. THURSDAY. Unemployment. Frictional. Structural. in Agriculture. Todd H. . Kuethe. University of Illinois. tkuethe@illinois.edu. Business and Credit Cycles in Agriculture. Motivation:. Operating margins tightening. Potential farmland price decline. Economics. Unemployment. Economist’s definition:. Those of working age, who are without work, but who are available for work at current wage rates.. Two . measures . of unemployment.. Claimant . count. Editor, . Review of Keynesian Economics. Full Professor, . Laurentian University. IAEN conference – Quito (Ecuador). July 26-28, 2017. Has it been fifty years already?. Some preliminary thoughts on Friedman (1968) [and Phelps]. Inflation – a general increase in the price level. Deflation – a general decrease in the price level. Hyperinflation – extraordinarily high inflation. (Germany 1923 – prices doubled roughly every 2 days). Vocab. Inflation. Deflation. Price index. Consumer price index. Market basket. Base year. Creeping inflation. Hyperinflation. Stagflation. Demand-pull inflation. Cost-push inflation. Civilian labor force. Chapter 13. © Dünhaupt, Dullien, Goodwin, Harris, Nelson, Roach, . Torras. Learning goals. After . today‘s. . lecture. , . you. . will . be. . able. . to. :. Explain . the derivation of the Aggregate Demand curve relating inflation and output levels, and how it shifts.. 8. C H A P T E R. ECONOMIC GROWTH. An . increase in real GDP. over some time period. An . increase in real GDP per capita. over some time period. Growth as a Goal. Arithmetic of Growth. Rule of 70. PB 202 . MACROECONOMICS. Continuous Assessment . CA. Total. . Chapter. %. Quiz . Minimum. 3. Chapter. 1, 6, 7. 20. Test . Minimum 1. Chapter 1-4. 20. Tutorial . Minimum 2. Chapter 2&3. 20. Case study . i A COMPARATIVE STUDY WITH NEIGHBOR COUNTRIESSINDI DOCITerm ProjectSubmitted in Fulfillment ofRequirement for the Degree of Professional Master InBanking and Finance EPOKA UNIVERSITY2018iAPPROVAL PAGE Money and Inflation. Rise in money supply does not equal a rise in Real GDP in the long run, since price level rises as well by the same percentage. Classical Model of Price Level . – Since money supply and price level rise together, the Real Quantity of Money (M/P) stays at the original level.