AudioLearn Economics series presents inflation and recession. We'll begin with a definition of economics. We'll discuss the difference between macroeconomics and microeconomics. Then we'll concentrate on the macroeconomy and develop the pieces that we need to examine the problems of inflation and unemployment. We'll discuss the different kinds and look at the different causes. We'll learn how to measure the output, or the gross domestic product.
We'll learn about aggregate demand and aggregate supply and how they relate to the level of economic activity. Then we'll use these pieces to examine the business cycle. We'll look at the problem of unemployment and see how it is defined and what causes unemployment. Then we'll look at inflation and see how it is defined and measured and we'll examine its causes.
We'll conclude the topic by discussing the remedies for inflation and unemployment. This basically means a discussion of monetary and fiscal policy for the demand-side problems and of supply policies for the supply-side problems. Now you can just sit back and relax as you learn about the problems of inflation and recession and why we expect the government to do something about these problems when the economy experiences them.
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