ii.Cost-push inflation
Concepts: fiscal policy and the aggregate demand/aggregate supply model, monetary policy and the aggregate demand/aggregate supply model, combinations of the policies and their effects, decision-making by policy makers leading to full employment of resources, international effects of domestic policies, government deficits and debts, long-run aggregate supply, demand pull and cost push inflation, the inflation-unemployment relationship, expectations
Graphs: Aggregate demand/aggregate supply model
Phillips curve
Key Words and terms
Terms: Expansionary fiscal policy, contractionary fiscal policy, budget deficit, budget surplus, built-in stabilizer, discretionary policy, progressive tax system, regressive tax system, proportional tax system, crowding-out effect, net export effect, Federal Reserve Board of Governors, open-market operations, discount rate, reserve requirement, short run, long run, Phillips Curve, stagflation, aggregate supply shocks, long-run vertical supply curve, supply-side economics
- Fiscal and monetary policies
- Demand-side effects
- Supply-side effects
- Policy mix
- Government deficits and debts
- Inflation and unemployment
- Types of inflation
ii.Cost-push inflation
- The Phillips Curve, short-run vs long run
- Role of expectations
Concepts: fiscal policy and the aggregate demand/aggregate supply model, monetary policy and the aggregate demand/aggregate supply model, combinations of the policies and their effects, decision-making by policy makers leading to full employment of resources, international effects of domestic policies, government deficits and debts, long-run aggregate supply, demand pull and cost push inflation, the inflation-unemployment relationship, expectations
Graphs: Aggregate demand/aggregate supply model
Phillips curve
Key Words and terms
Terms: Expansionary fiscal policy, contractionary fiscal policy, budget deficit, budget surplus, built-in stabilizer, discretionary policy, progressive tax system, regressive tax system, proportional tax system, crowding-out effect, net export effect, Federal Reserve Board of Governors, open-market operations, discount rate, reserve requirement, short run, long run, Phillips Curve, stagflation, aggregate supply shocks, long-run vertical supply curve, supply-side economics
Lectures
Module 30: fiscal_policy_and_consequences_.pptx Module 31: monetary_policy_and_interest_rate.pptx Module 32: monetary_policy_consequences.pptx Module 33: inflation__1_.pptx Module 34: philipps_curve.pptx Module 35: history_and_alternatives.pptx Module 36: consensus_and_conflict.pptx |
Materials
Module 30: Debt and Deficit Interview Debt and Deficit Module 31 Monetary Policy Module 32 Effects of Expansionary Monetary Policy Interest Rates in the Long Run Monetary Policy in the Short and Long Run Module 33 The Inflation Tax and Venezuela Module 34 ACDC - Phillips Curve The Phillips Curve LRPC Video Module 35 Quantity Theory of Money Alternate Theories Module 36 supply_side_economics.docx |