Business Cycles and Unemployment

… a core topic in Macroeconomic Policy

BusinessCycle2Topic description

This topic introduces students to business cycles, their impacts on the labour market, and government policies to stimulate the economy or to moderate inflationary pressures.

It is envisaged that The Atlas treatment of this topic will closely follow that in Chapter 5 – Unemployment and Labor Force Participation; Chapter 6 – Inflation and Quantity Theory; Chapter 7 – Business Fluctuations; and Chapter 8 – Transmission and Amplification in the open access course entitled Principles of Macroeconomics presented by Tyler Cowen and Alex Tabarrok on the Marginal Revolution University (MRU) online education platform (http://www.mruniversity.com/courses/principles-economics-macroeconomics, accessed 23 April 2016). In late April 2016 the MRU course site did not yet have videos available for theses chapters but we hope that concept pages can be created on the Atlas once those MRU resources become available.

Topic learning outcome

Appropriately utilize and interpret results of applying to public policy problems the basic principles of growth theory, including following core concepts.

Core concepts associated with this topic (MRU videos not yet available for unlinked concepts)
to come
Other concepts

These concepts have been identified from courses and have short descriptions on the Old Atlas. Some may be added to the core and be elaborated in a page in this Atlas.

Aggregate Demand

Aggregate Supply Curve

Automatic Stabilizers

Business Cycle

Capital Spending

Involuntary Unemployment

Keynesian Economics

Labour Force

Labour Force Participation Rate

Multiplier Effect

Natural Rate of Unemployment

Stabilization Policy

Stabilization Policy Lags

Unemployment

Unemployment Rate

Readings

to come

Textbook readings in MPP and MPA courses 

to come

Assessment questions (from MRU Practice Questions for Chapters 3 and 4)

to come

Page created by: Ian Clark, last modified on 23 April 2016.

Image: SWFL Marketing Group, at http://www.swflmarketinggroup.com/how-to-match-promotional-products-to-the-business-cycle/, accessed 23 April 2016.