A study of inflation, its measures, and consequences. Students will understand how price information is collected and used to construct an index of the price level. It is important that households and economic agents have a good understanding of the impacts of general price level changes on various economic units. Policy makers use inflation information to understand the consequences of policy changes and as a guide to current and future policy.
Ohio TAG Social and Behavioral Sciences (OSS) Standards
Core OSS005 Outcome: Core skill demonstrated by students who successfully complete a Principles of Macroeconomics Course
Standard: Comprehend the determinates of important macroeconomic variables, including the level of income, the level of employment, the unemployment rate, the natural rate of unemployment, the price level, the inflation rate, productivity and the rate of interest