5/3/07 Warm Up

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5/3/07 Warm Up

• Copy down the following
• 10
• -10

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Warm Up

• List the days of the week from Sun. to Sat.
• Rate how each day went for you from 10 (best) to
  -10 (worst).

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Objectives

• Define and describe different phases of the
  business cycle
• Explain how various economic factors impact the
  business cycle.

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The Business Cycle

• The periodic but irregular up-and-down movements
  in economic activity.

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A business cycle is identified as a sequence of
four phases

• Contraction/Recession (slowdown in the pace of
  economic activity)
• Trough/Depression (The lower turning point of a
  business cycle, where a contraction turns into an
  expansion)
• Expansion/Recovery (A speedup in the pace of
  economic activity)
• Peak/Prosperity (The upper turning of a business
  cycle)

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Money Makes the World Go Round
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Directions

• Read Money Makes the World Go Round and answer
  questions.
• Complete scenarios to check your understanding

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Summary

• What do you think the governments role is in
  impacting the business cycle?

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What do you think is govts role in the economy?