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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

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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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