mod4_dec06 - Business & Economics Module 4: Stagflation...

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Business & Economics Module 4: Stagflation and Deficits ECON 201: Principles of Macroeconomics
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Module 4: Stagflation and Deficits. .............................................................................. 1 Introduction. ................................................................................................................ 1 Unit 1: Stagflation. .......................................................................................................... 1 Learning Outcomes. .................................................................................................... 1 Topics in Unit 1 . ......................................................................................................... 1 Topic 1: The Phillips Curve. ....................................................................................... 1 Reading . ...................................................................................................................... 2 Study Questions . ......................................................................................................... 2 Topic 2: The Real Cause of Inflation. ......................................................................... 4 Reading . ...................................................................................................................... 4 Study Questions . ......................................................................................................... 4 Unit 2: Deficits. ............................................................................................................... 6 Learning Outcomes. .................................................................................................... 6 Topics in Unit 2 . ......................................................................................................... 6 Topic 1: Fiscal versus Monetary Policy. ..................................................................... 7 Reading . ...................................................................................................................... 7 Topic 2: The Structural Deficit. .................................................................................. 8 Topic 3: Burdening Future Generations . .................................................................... 8 Study Questions . ......................................................................................................... 8 Discussion Questions for Module 4. ......................................................................... 10 Assignment 3 is due!. ................................................................................................ 10
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ECON 201: Principles of Macroeconomics 1 Module 4: Stagflation and Deficits Introduction This module has two units. The first is about the Phillips curve, a relationship between inflation and unemployment that has played a prominent role in the development of economic thought since it was first introduced in the 1950s. In essence it is really just another way of looking at the supply side of the economy,
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mod4_dec06 - Business & Economics Module 4: Stagflation...

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