Macroeconomics: Growth and Inflation

Name: Macroeconomics: Growth and Inflation
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Unpack the effects of the natural business cycle, economic inflation and unemployment in this free business course.

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Learning Outcomes

In this free course, you will learn how to:

Explain how economists define and compute the unemployment rate
Describe the patterns of unemployment in the US
Discuss the causes of changes in unemployment over the short run
Identify the phases of a business cycle
Compare business cycles to the overall long-run trend in real GDP in the US
Define 'potential output', also called the natural level of GDP
Distinguish between a change in the aggregate quantity of goods and services demanded and a change in aggregate demand
Illustrate graphically recessionary & inflationary gaps and relate these gaps to what is happening in the labour market
Identify the various policy choices available when an economy experiences an inflationary or recessionary gap

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