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Principles of Macroeconomics Unit 4

This is an outline of the concepts discussed in www.inflateyourmind.com Unit 4
by

John Bouman

on 13 August 2014

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Transcript of Principles of Macroeconomics Unit 4

Expansion
Recession
Expansion
Business Fluctuations
Peak
Trough
http://www.bea.gov
Then click on "GDP",
then "Percent change
from preceding period"
What causes recessions?
The Great Depression
Roaring 20s
Economic growth
Stock market boom
Many borrow to buy stocks
Loan foreclosures, bankruptcies, savings gone
Financial crisis
Economic crisis
High unemployment
1927: buy $2,000 ($200 own money; $1,800 borrowed)
1928: stocks worth $3,000. Profit: $1,000. Yay!
1929: market crashes. Stocks worth $1,400. Unable to pay back loan. :(
No job and looking for one
Unemployment
Structural
Cyclical
Frictional
Seasonal
Types of unemployment
http://www.bls.gov
Then click on "Subject Areas" and
select national or state, etc. rate.
The "full employment rate",
or "natural rate of unemployment"
is when unemployment is around
5 - 6%.
Keynesian economists: government should stimulate the economy (print money, increase spending) if the rate is above 6%.
Classical economists: government stimulation may help in the short run, but causes economic harm in the long run.
http://www.inflateyourmind.com/index.php?option=com_content&view=article&id=35&Itemid=62
Unemployment around the world:
Full transcript