1. Lectures in Macroeconomics- Charles W. Upton A First Primer on Business Cycles

2. A Change in Demand S SR S LR D H’H* w* w’

3. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’

4. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’ We know a temporary demand reduction causes a business cycle

5. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’ We know a temporary demand reduction causes a business cycle But what causes a temporary demand reduction?

6. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’ We know a temporary demand reduction causes a business cycle But what causes a temporary demand reduction? That Question is too soon

7. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’ We know a temporary reduction in productivity growth causes a business cycle

8. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’ We know a temporary reduction in productivity growth causes a business cycle But what causes a temporary reduction?

9. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’ We know a temporary reduction in productivity growth causes a business cycle But what causes a temporary reduction? That Question is too soon

10. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’ We know a temporary reduction in productivity growth causes a business cycle But what causes a temporary reduction? That Question is too soon And as long as we are asking questions without answering them, are there other causes?

11. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’ We know a temporary reduction in productivity growth causes a business cycle But what causes a temporary reduction? That Question is too soon And as long as we are asking questions without answering them, are there other causes?

12. A First Primer on Business Cycles A Change in Demand D’ S SR S LR D H’H* w* w’ We know a temporary reduction in productivity growth causes a business cycle But what causes a temporary reduction? That Question is too soon And as long as we are asking questions without answering them, are there other causes? Yes. The course is not over.

13. A First Primer on Business Cycles End ©2004 Charles W. Upton. All rights reserved