Slide 1 Business Cycles Slide 2 What are we modelling? Focus on explaining fluctuations in real GDP, Y, and the GDP Deflator, P. Framework reminiscent of the supply and demand…
Slide 1 1 of 29 Lecture 10 The Labor Market: Basic ConceptsThe Classical View of the Labor MarketThe Classical Labor Market and the Aggregate Supply CurveThe Unemployment…
Slide 1 Chapter outline: The Labor Market: Basic Concepts The Classical View of the Labor Market The Classical Labor Market and the Aggregate Supply Curve The Unemployment…
Slide 1 Indifference curves Workers care about whether their job is safe or risky Utility = f (w, ) where risk of injury Indifference curves reveal the trade offs…
Labour Markets Year 10 IGCSE Labour Markets Content Identify factors which affect an individuals choice of occupation (specialised jobs) Describe likely changes in income…
Chapter 1: The Basics of Economics Chapter 1: The Basics of Economics Basic Economic Concepts 1. Economics is a social science dealing with how best to allocate scarce resources…
Labour Markets Year 10 IGCSE Labour Markets Content Identify factors which affect an individuals choice of occupation (specialised jobs) Describe likely changes in income…
Indifference curves Workers care about whether their job is safe or risky Utility = f (w, s) where s risk of injury Indifference curves reveal the trade offs that a worker…