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Diploma in Higher Education Studies

Inflation and unemployment

HES 202 · Introductory Economics — Week 10 of 16

CourseHES 202
Week10 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Inflation and unemployment

  1. Rising prices and the cost of living
  2. Why people are unemployed

What you will be able to do

  • 3.1 Explain inflation, unemployment and GDP.

Activity

Track the prices of ten products over a year.

Study materials

Further resources

  • Price stability: why is it important for you?, ch. 3: The importance of price stability · PDF · ECB booklet on inflation and the cost of living; pp. 23–34 · for registered students
  • Principles of Economics 3e, ch. 21.1: Defining and computing unemployment · PDF · OpenStax (2022); pp. 502–505 · for registered students
  • BBC 6 Minute English: Why are prices going up? (transcript) · PDF · BBC Learning English transcript (accessible) on why prices are rising · for registered students
  • Understanding US Inflation during the COVID-19 Era · Open-access article · Ball et al. (2022), Brookings Papers on Economic Activity. Breaks down the post-2020 rise in inflation and its link to unemployment and demand. · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 9Week 11
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Course plan
  • Week 1: What is economics? Scarcity and choice
  • Week 2: Demand: how buyers behave
  • Week 3: Supply: how sellers behave
  • Week 4: Market equilibrium
  • Week 5: When demand or supply changes
  • Week 6: Price elasticity of demand
  • Week 7: Calculating elasticity
  • Midterm: Midterm evaluation
  • Week 9: Measuring the economy: GDP
  • Week 10: Inflation and unemployment
  • Week 11: Reading economic data
  • Week 12: Perfect competition
  • Week 13: Monopoly
  • Week 14: Markets in real life
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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