Module 5

Unemployment and Inflation

Stemming off of our discussion of GDP from last week, we are going to venture into the measurements of unemployment and inflation. These three variables (GDP, unemployment and inflation) dictate much of how our economy runs.

Weekly Tasks

  1. Participate in an introductory discussion on inflationary and deflationary pressures. (3 points) (due by Tuesday, February 23)
  2. View/Read some instructional material outlining the concepts of inflation, deflation and unemployment
  3. Score 100% on the comprehension quiz (you can take this as many times as you like!) (5 points) (due by Thursday, February 25)
  4. Reply to 2 classmates' initial discussion posts, highlight specific concepts from this week. (3 points) (by Thursday, February 25)
  5. Complete a graded assignment--Correlation vs. Causation (due Sunday, February 28)

At the end of the week you should:

    • Understand the concept of Scarcity and the choices or "trade-offs" scarcity requires
    • Understand the definition of "economics"
    • Differentiate between positive and normative statements
    • Understand the difference between microeconomics and macroeconomics