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Unemployment

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Translate your ideas into economic analysis using the specific economic theory and economic terms

Why is frictional unemployment important to have in any economy?

Explain why hyperinflation has such a devastating impact on economies. Explain what it takes to stop hyperinflation.

Describe the three types of unemployment. What types of government programs would be most effective in combating each type of unemployment?

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Translate your ideas into economic analysis using the specific economic theory and economic terms
Why is frictional unemployment important to have in any economy?
It is important to have frictional unemployment in the economy because it matches the demand for workers with its supply and brings about equilibrium in the labor market. Frictional employment arises from two sources, the job searchers from universities, and those who are unemployed because they are changing jobs. Frictional unemployment is present because there is imperfect information in the labor market and the workers have to search for employment suitable for them.

Explain why hyperinflation has such a devastating impact on economies. Explain what it takes to stop hyperinflation.
Hyperinflation has a devastating ...

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Unemployment notes

I
Unemployment and its natural rate.

?It can be based on current news and events. Present a news article relevant to the material of that particular week. The article should of course demonstrate or relate to a topic being covered that particular week (the topic I listed above) - a typical news article would be appropriate, but you shouldn't feel limited to that. Include a link to the article, a brief summary of the article, and a reflection that relates it to course material (BELOW) plus any other observations.

Summarize the situation so people know what you are talking about, and then discuss how that situation relates to the course material(BELOW). Both these parts are equally important and neither should be neglected. About 1 page (or what would be a page in a word processor) would be a roughly appropriate length. Your discussion should be reasonably focussed...it doesn't need to deal with everything possible under the topics for the week. Please be very clear about what idea the presentation is supposed to be illustrating and how it illustrates it.

Here are the topics in the material related to Unemployment and its natural rate. Choosing any/all/some of these will cover the course material requirement. :-)

1. How unemployment is measured
2. Why are there always people unemployed
3. Unemployment Insurance

OR

1.Economics of unions
2. Are unions good or bad for the economy

OR

1. Efficiency wages
2. Worker health
3. Worker turnover
4. Worker quality
5. Worker effort

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