Written by Anthony Carter ·
Filed under Basic Economic Concepts, Macroeconomics
Frictional unemployment is also sometimes referred to as search unemployment. It refers to the unemployed period when people are between jobs or looking for their first job. This is the one type of unemployment that is probably impossible to eradicate completely. It is far less serious than the chronic lack of work that some people are faced with. In a lot of instances frictional unemployment will be voluntary because people are trying to find the work that offers them the best pay and conditions.
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Written by Anthony Carter ·
Filed under Macroeconomics
Cyclical unemployment is closely related to Keynesian economics theory. It refers to a situation where there are more people looking for work than there are jobs available. This type of unemployment is caused by the business cycle. It can occur for a number of reasons but is related to the performance of the economy. A good example is when cyclical unemployment occurs due to a fall in consumer demand. This leads to manufacturers reducing production and thus not needing as many employees. This situation causes increased unemployment.
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Written by Anthony Carter ·
Filed under Finance, Macroeconomics
If you follow the economic news you will probably have heard the word inflation, used many times; it has also become part of our everyday vocabulary. Despite the fact that most of us will be familiar with the word, we may be a bit unclear about exactly what this is or what causes it to happen. This is a topic that is much debated and of great concern to economists, politicians, business owners, investors, and others. It is something that may be of concern to everyone as inflation can impact us all in one way or another.
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Written by Anthony Carter ·
Filed under Basic Economic Concepts, Economics, Economists, Macroeconomics
John Maynard Keynes was a British economist who wrote extensively during the 1920s and 1930s. His work is still considered important today and has since become referred to as Keynesian economics. Up until the 1970s his ideas had a huge impact on government economic intervention in Europe. The economic collapse of 2008 saw Keynes’ ideas once again enter the spotlight, but there has also been a public backlash against the interventionist policies he favored.
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Written by Anthony Carter ·
Filed under Basic Economic Concepts, Macroeconomics
Inflation is an economics term that most of us hear a lot. There will often be news stories about how the government is working to keep inflation low. While this word is commonly used in the media there still be a bit confused as to what it actually means for us. We might also wonder why economists and governments are so eager to avoid inflation. This is an important idea in economics, but one that can cause confusion for the rest of us.
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Written by Anthony Carter ·
Filed under Best Selling Books / Textbooks & Reviews, Macroeconomics
Macroeconomics is interested in how the economy works overall. This is a subject that is of great interest to a lot of people in the general public and not just students and economists. An understanding of macroeconomics can help people have a much better understanding about how our world functions and why governments and international agencies might be behaving as they do. There are many great books about macroeconomics and we will only be able to examine some of the very best of them here.
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Written by Yang Yang ·
Filed under Basic Economic Concepts, Economics, Macroeconomics
The business cycle is something you will frequently hear economists mention. It is often discussed in relation to a countries economic performance or how markets are behaving on a global scale. It seems to be quite an important concept so what does it actually refer to?
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Written by Yang Yang ·
Filed under Basic Economic Concepts, Macroeconomics
Those who listen to the financial news may have heard the term ‘Keynesian economics’ floated around. There may be some confusion as to what this is actually referring to. Discussions about the validity of this theory can become heated among economists so it is worth having some idea as to what is behind it all. A basic explanation will be provided here.
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