Lesson 3.2- Economic Recession and Recovery-Macro Economics
Learning Goals: By the end of this lesson you will be able to
•Identify the types, causes, and
effects of inflation, deflation, and unemployment
•Describe the characteristics and
causes of instability in each phase of the business cycle
•Explain the causes and
consequences of the stagflation experienced in the Canadian economy from 1973
to 1982
SUCCESSS CRITERIA
At the end of this lesson you will be able to understand types and causes of inflation, deflation ,unemployment, Stagflation and the business cycle..
- Okun’s law
- business cycle
- Recession
- Recovery
- demand-pull inflation
- Phillips curve
- Stagflation
- “jobless” recovery
- Downsize
- Rightsize
- common good
- Sustainability
- The Atlantic Groundfish Strategy (TAGS)
- aquaculture
- cost-push inflation
RECOVERY
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Students to complete this after you've finished all activities/tasks in today's lesson.