About This Chapter
Who's it for?
Anyone who needs help learning or mastering college macroeconomics material will benefit from taking this course. There is no faster or easier way to learn college macroeconomics. Among those who would benefit are:
- Students who have fallen behind in understanding unemployment or working with the unemployment rate
- Students who struggle with learning disabilities or learning differences, including autism and ADHD
- Students who prefer multiple ways of learning economics (visual or auditory)
- Students who have missed class time and need to catch up
- Students who need an efficient way to learn about unemployment
- Students who struggle to understand their teachers
- Students who attend schools without extra economics learning resources
How it works:
- Find videos in our course that cover what you need to learn or review.
- Press play and watch the video lesson.
- Refer to the video transcripts to reinforce your learning.
- Test your understanding of each lesson with short quizzes.
- Verify you're ready by completing the Understanding Unemployment chapter exam.
Why it works:
- Study Efficiently: Skip what you know, review what you don't.
- Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
- Be Ready on Test Day: Use the Understanding Unemployment chapter exam to be prepared.
- Get Extra Support: Ask our subject-matter experts any unemployment question. They're here to help!
- Study With Flexibility: Watch videos on any web-ready device.
Students will review:
This chapter helps students review the concepts in an Understanding Unemployment unit of a standard college-level principles of macroeconomics course. Topics covered include:
- Three types of unemployment
- Natural rate of unemployment
- Rational expectations in the economy and unemployment
- Minimum wage and its effects on employment
1. Defining and Measuring the Unemployment Rate
You've probably heard about the unemployment rate, especially given how high it was in the 2008 recession. Find out how economists define unemployment, what the unemployment rate is, and how to calculate it in this lesson.
2. Why the Unemployment Rate Decreases and Increases
Policymakers, investors, and consumers watch the monthly unemployment rate with great interest. In this lesson, you'll learn what factors influence the unemployment rate and why the rate can change rapidly from month to month.
3. Three Types of Unemployment: Cyclical, Frictional & Structural
If you've ever lost your job after the holiday season, you've experienced at least one type of unemployment. In this lesson, explore the three types of unemployment including cyclical, frictional, and structural using real-world examples.
4. Natural Rate of Unemployment: Definition and Formula
Explore the natural level of employment through the eyes of the Classical School and Keynesian economics, including fiscal policies that may reduce it.
5. Rational Expectations in the Economy and Unemployment
This lesson provides an overview of the theory of rational expectations and then applies it to the labor market, fiscal policy and monetary policy. In the lesson, you'll learn more about expectations and outcomes in a world where people want to maximize profit.
6. Minimum Wage and its Effects on Employment
There are times when the labor market is perfectly balanced between what employers are willing to pay and what workers want in a job. In this lesson, find out what happens to the labor market when governments intervene, imposing a minimum wage.
7. What is Abject Poverty? - Definition
In this lesson, we will explore the concept of abject poverty. We will define the term and look at some poverty statistics, and then you can test your knowledge with a quiz.
8. What Is Relative Poverty? - Definition, Causes & Examples
Over 40 million people in the United States lived in relative poverty as of 2012. Learn about the causes of relative poverty and test your knowledge with a quiz.
9. The Labor Force Participation Rate: Equation & Concept
A country's unemployment rate doesn't tell the whole story about employment. In this lesson, you'll learn about the labor force participation rate, including what it is, related concepts, and how to calculate it. A short quiz follows.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Introduction to Macroeconomics: Help and Review course
- The Production Possibilities Curve: Help & Review
- Comparative Advantage, Specialization and Exchange: Help and Review
- Demand, Supply and Market Equilibrium: Help and Review
- Measuring the Economy: Help and Review
- Inflation Measurement and Adjustment: Help and Review
- Aggregate Demand and Supply: Help and Review
- Macroeconomic Equilibrium: Help and Review
- Inflation and Unemployment: Help and Review
- Economic Growth and Productivity: Help and Review
- Money, Banking, and Financial Markets: Help and Review
- Central Bank and the Money Supply: Help and Review
- Fiscal and Monetary Policies: Help and Review
- Foreign Exchange and the Balance of Payments: Help and Review
- Inflows, Outflows, and Restrictions: Help and Review
- Government & the Economy: Help and Review
- The U.S. Economic System