Macro: Unit 3.6 -- The Phillips Curve

Hey Everyone! I'm Mr. Willis, and You Will Love Economics! In this video, I will: - Review the origins of the Phillips curve - Discuss the inverse relationship between the inflation rate and the unemployment rate in the short-run, leading to a downward-sloping short-run Phillips curve - Discuss the constant relationship between the inflation rate and the natural rate of unemployment in the long-run, leading to a perfectly vertical long-run Phillips curve - Practice graphing how changes in aggregate demand will change the inflation rate and the unemployment rate on a short-run Phillips curve - Practice graphing how changes in short-run aggregate supply will change the inflation rate and the unemployment rate on a short-run Phillips curve - Practice graphing how changes in long-run aggregate supply will change the inflation rate and the natural rate of unemployment on a long-run Phillips curve Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video: https://www.teacherspayteachers.com/Product/Short-Run-and-Long-Run-Phillips-Curve-Activity-3437992 Follow our store on Teachers Pay Teachers https://www.teacherspayteachers.com/S... Look for us on Social Media: Instagram -- http://www.instagram.com/youwillloveh... Facebook -- http://www.facebook.com/youwilllovehi... Subscribe to our YouTube Channel: https://www.youtube.com/youwillloveeconomics Check out our website for teaching tips and insight from us: https://sites.google.com/view/you-wil...