Apr 21 2012

Phillips Curve

Published by at 8:08 pm under

A downward sloping curve showing the short run tradeoff between the level of inflation and the level of unemployment in a nation. There is also a long-run curve which is vertical at the natural rate of unemployment showing that in the long run there is no trade off between the price level and the level of unemployment in an economy.

About the author:  Jason Welker teaches International Baccalaureate and Advanced Placement Economics at Zurich International School in Switzerland. In addition to publishing various online resources for economics students and teachers, Jason developed the online version of the Economics course for the IB and is has authored two Economics textbooks: Pearson Baccalaureate’s Economics for the IB Diploma and REA’s AP Macroeconomics Crash Course. Jason is a native of the Pacific Northwest of the United States, and is a passionate adventurer, who considers himself a skier / mountain biker who teaches Economics in his free time. He and his wife keep a ski chalet in the mountains of Northern Idaho, which now that they live in the Swiss Alps gets far too little use. Read more posts by this author

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