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Learning Outcome Statements PDF Download
|1. The Business Cycle and its Phases|
a. describe the business cycle and its phases;
b. describe how resource use, housing sector activity, and external trade sector activity vary as an economy moves through the business cycle;
|2. Theories of the Business Cycle|
c. describe theories of the business cycle;
d. describe types of unemployment and measures of unemployment;
e. explain inflation, hyperinflation, disinflation, and deflation;
f. explain the construction of indices used to measure inflation;
g. compare inflation measures, including their uses and limitations;
h. distinguish between cost-push and demand-pull inflation;
|5. Economic Indicators|
i. interpret a set of economic indicators and describe their uses and limitations.
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