Learning Outcomes

How Economists Define and Compute Unemployment Rate

Patterns of Unemployment

What Causes Changes in Unemployment over the Short Run

What Causes Changes in Unemployment over the Long Run

Relating Inflation and Unemployment

Lesson Summary

This module explains the aspects of unemployment and its relationship with economic inflation. You will learn about different types of unemployment and their impact to the economy. The module also covers the following: How to Compute Unemployment Rate, Unemployment over the Long Run and the inverse relationship between Inflation and Unemployment.

The Business Cycle

Growth of Real GDP and Business Cycles

Aggregate Demand

The Long Run and the Short Run

Recessionary and Inflationary Gaps

This module studies the nature, causes, and characteristics of the two major economic problems: periods of severe unemployment and periods of inflation. It also covers the concept of aggregate demand and real GDP. Finally the module explains Macroeconomic equilibrium by discussing recessionary and inflationary Gaps.

Macroeconomics: Growth and Inflation - Course assessment

Unpack the effects of the natural business cycle, economic inflation and unemployment in this free business course.

Macroeconomics: Growth and Inflation

This course on macroeconomic inflation and unemployment explores the economic business cycle in both the short-term and long-run. It covers the concept of aggregate demand (AD), recessionary and inflationary gaps, and long-run macroeconomic equilibrium. Another topic you will explore includes the short-run effects of unemployment. By the end of the material, you will be able to describe and understand the full economic business cycle.

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