The business cycle is an economic phenomenon which describes changes in the level of economic output compared to a long run average. A simple set of data illustrating the business cycle is shown below. The level of Real GDP in most countries increased by a positive rate each year from 2000 - 2008, before the … Continue reading The booms and the busts of the business cycle – Introduction to AD – AS models
Tag: GDP
Nice interactive and analysis – UK Recessions; past and present
I found a link to this on a another Economics blog http://www.tutor2u.net. This would be an excellent resource to help students understand the business cycle and the interrelated nature of economic indicators. Once I have introduced the simple AS/AD model I will get students to explore this infographic. Available from the Guardian UK
Comparing US GDP with the rest of the world.
Most teachers of Economics know that some individual American states, are larger economies than many countries in their own right. The following graphics from last weeks edition of the Economist show this idea spatially. Both could be interesting lesson starters when discussing GDP and the relative sizes of economies. Sourced from the Economist - http://www.economist.com/node/21014355
Digging a Little Deeper 