Unpack the effects of the natural business cycle, economic inflation and unemployment in this free business course. 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.
| College | Alison |
| Course ID | 195188 |
| Course Type | Online Learning |
| Course Qualification | CPD Certificate |
| Course Duration | 1.5-3 hours |
| Course Fee | Free |
| Entry Requirements | Like all courses on the Alison Free Learning platform this is a free, CPD-accredited course. A Graduate can choose to buy a certificate or diploma upon successful completion of a course, but this is not required or necessary. At Alison we believe that free education, more than anything, has the power to break through boundaries and transform lives. Alison is the world’s largest free online empowerment platform for education and skills training, offering over 5000 CPD accredited courses and a range of impactful career development tools. It is a for-profit social enterprise dedicated to making it possible for anyone, to study anything, anywhere, at any time, for free online, at any subject level. Through our mission, we are a catalyst for positive social change, creating opportunity, prosperity, and equality for everyone. |
| Career Path | What You Will Learn In This Free Course • Explain how economists define and compute the unemployment rate • Describe the patterns of unemployment in the US • Discuss the causes of changes in unemployment over the short run • Identify the phases of a business cycle • Compare business cycles to the overall long-run trend in real GDP in the US • Define 'potential output', also called the natural level of GDP • Distinguish between a change in the aggregate quantity of goods and services demanded and a change in aggregate demand • Illustrate graphically recessionary & inflationary gaps and relate these gaps to what is happening in the labour market • Identify the various policy choices available when an economy experiences an inflationary or recessionary gap |
| Course Code | 3540 |
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