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\nThe Long Run Phillips Curve: Analysis and Explanation\n

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\nThe video focuses on the long-run Phillips Curve. The speaker explains how to analyze and explain the formation of the long-run Phillips Curve and the theoretical limitations of the concept. He discusses the importance of natural...\nThe video focuses on the long-run Phillips Curve. The speaker explains how to analyze and explain the formation of the long-run Phillips Curve and the theoretical limitations of the concept. He discusses the importance of natural unemployment and two key concepts - money illusion and adaptive expectations - in the formation of the long-run Phillips Curve. The speaker uses diagrams and charts to illustrate his points and concludes by discussing the limitations of demand-side policies and the importance of supply-side policies in reducing natural unemployment.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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14:25
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Grade
12th - Higher Ed
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Subjects
Social Studies & History
3 more...
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Media Type
Instructional Videos
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Source:
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\nKnowMo Economics\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Additional Materials

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\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" href=\"/subscription/new\">Video Transcript\n
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Concepts

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economics, inflation, demand
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Additional Tags

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a-level, lectures, macro, eco, performance, 5.8b, lrpc, long run, economic agents, adaptive expectations, phillips curve, ad stimulus, money illusion, real output, natural level, equilibrium position, successive cycle, natural unemployment, unemployment level, inflation rate, inflation higher, level, higher, position, rate, cycle, unemployment, important, step, labour, moved, form, engage, shift, analysis
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Classroom Considerations

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Best For: Explaining a topic
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