About This Chapter
Who's it for?
This unit of our AP Macroeconomics Homeschool course will benefit any student who is trying to learn the definitions and implications of inflation and unemployment. There is no faster or easier way to learn about inflation and unemployment. Among those who would benefit are:
- Students who require an efficient, self-paced course of study to learn about economic behavior, the Phillips curve model and factors that impact the Phillips curve.
- Homeschool parents looking to spend less time preparing lessons and more time teaching.
- Homeschool parents who need an economics curriculum that appeals to multiple learning types (visual or auditory).
- Gifted students and students with learning differences.
How it works:
- Students watch a short, fun video lesson that covers a specific unit topic.
- Students and parents can refer to the video transcripts to reinforce learning.
- Short quizzes and an Inflation and Unemployment unit exam confirm understanding or identify any topics that require review.
Inflation and Unemployment Unit Objectives:
- Discover the ways in which inflation affects unemployment rates.
- Understand how the Phillips curve depicts the relationship between unemployment and inflation.
- Explain what causes the Phillips curve to shift to the right or left.
- Discuss the Phillips curve in the short-term, and find out what happens to the curve in strong and weak economies.
- Explore unemployment and inflation in the long run.
- Study the impacts of both expected and unexpected inflation.
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 AP Macroeconomics: Homeschool Curriculum course
- Scarcity, Choice & Production Possibilities Curve: Homeschool Curriculum
- Comparative Advantage, Specialization & Exchange: Homeschool Curriculum
- Demand, Supply & Market Equilibrium: Homeschool Curriculum
- Measuring the Economy: Homeschool Curriculum
- Inflation Measurement & Adjustment: Homeschool Curriculum
- Understanding Unemployment: Homeschool Curriculum
- Aggregate Demand and Supply: Homeschool Curriculum
- Macroeconomic Equilibrium: Homeschool Curriculum
- Economic Growth and Productivity: Homeschool Curriculum
- Money, Banking and Financial Markets: Homeschool Curriculum
- Central Bank and the Money Supply: Homeschool Curriculum
- Fiscal and Monetary Policies: Homeschool Curriculum
- Foreign Exchange & Balance of Payments: Homeschool Curriculum
- Inflows, Outflows and Restrictions: Homeschool Curriculum