This course contains 7 segments:
The Circular Flow and GDP
Focus content: circular flow model, GDP
Limitations of GDP
Focus content: limitations of GDP
Unemployment
Focus content: unemployment rate, labor force participation rate, limitations of the unemployment rate, types of unemployment (cyclical, frictional, structural), natural rate of unemployment
Price Indices and inflation
This course contains 7 segments:
The Circular Flow and GDP
Focus content: circular flow model, GDP
Limitations of GDP
Focus content: limitations of GDP
Unemployment
Focus content: unemployment rate, labor force participation rate, limitations of the unemployment rate, types of unemployment (cyclical, frictional, structural), natural rate of unemployment
Price Indices and inflation
Focus content: inflation, CPI, real v. nominal values, shortcomings of CPI. Distinguish between inflation, deflation, and disinflation
Costs of Inflation
Focus content: costs of inflation
Real vs. nominal GDP
Focus content: nominal GDP, real GDP, GDP deflator
Business cycles
Focus content: business cycle phases and turning points, full-employment (potential) output, output gap
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