About This Chapter
Below is a sample breakdown of the Inflation and Unemployment chapter into a 4-day school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.
|Day||Topics||Key Terms and Concepts Covered|
|Monday||Phillips Curve Model||Discussion of the relationship between inflation and unemployment, which is called Phillips Curve; background on A.W.H. Phillips|
|Tuesday||Factors that change the Phillips Curve||Study of terms such as aggregate supply, rightward shift and leftward shift|
|Wednesday||Economic behavior||The influence of economy on inflation and unemployment; how the Phillips curve is changed during weak and strong economies|
|Thursday||Inflation rate||Understand how the Phillips curve is affected by inflation on a long-term basis|
1. The Phillips Curve Model: Inflation and Unemployment
Can we have low unemployment and low inflation at the same time? Some economists think the answer is no. In this lesson, we'll explore the relationship between inflation and unemployment in the short-run, what economists call the Phillips Curve.
2. Factors That Shift the Phillips Curve
Inflation and unemployment are inversely related. In this lesson, discover the factors that lead to a shift in the Phillips Curve by looking at a fictitious economy as an example.
3. The Phillips Curve in the Short Run: Economic Behavior
Economists have ways to describe the changes in the economy. In this lesson, discover the short-term relationship between inflation and unemployment - what economists refer to as the Phillips Curve.
4. The Phillips Curve in the Long Run: Inflation Rate
How do unemployment and inflation affect each other? In this lesson, you'll discover why the Phillips curve is vertical in the long run with the help of some real world examples.
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Other chapters within the Macroeconomics Syllabus Resource & Lesson Plans course
- Scarcity & Production Possibilities Curve Lesson Plans
- Comparative Advantage & Specialization Lesson Plans
- Demand, Supply and Market Equilibrium Lesson Plans
- Measuring the Economy Lesson Plans
- Economic Growth and Productivity Lesson Plans
- Inflation Measurement and Adjustment Lesson Plans
- Understanding Unemployment Lesson Plans
- Aggregate Demand and Supply Lesson Plans
- Macroeconomic Equilibrium Lesson Plans
- Money, Banking and Financial Markets Lesson Plans
- Central Bank and the Money Supply Lesson Plans
- Fiscal and Monetary Policies Lesson Plans
- Foreign Exchange and the Balance of Payments Lesson Plans
- Inflows, Outflows, and Restrictions Lesson Plans