Macroeconomics (advanced level) (Alexey Devyatov)
Block 4. Introduction to business cycles
The block addresses the following questions:
- Stylized facts: procyclical and countercyclical indicators.
- Aggregate demand and aggregate supply curves.
- Short-run vs long-run aggregate supply.
- Classical and Keynesian approach to business cycles.
- Factors, which move AD and AS curves.
- Government policy and aggregate demand.
- Output and unemployment.
- Phillips curve.