By the end of this section, you will be able to:

Explain the Phillips curve, noting its impact on the theories of Keynesian economics
Graph a Phillips curve
Identify factors that cause the instability of the Phillips curve
Analyze the Keynesian policy for reducing unemployment and inflation

Listen as Jacqueline Novogratz discusses investing in sustainable small business solutions for the world's poor. The goal, says Novogratz, CEO of Acumen Fund, is to find a way to bring essential services to low income people not just today but in a way that's sustainable over time.

Students will describe the purpose of a price index, and how it is calculated. Then students will describe the weaknesses of the CPI, and interpret CPI data as a measure of economic health. Finally, students will identify who is harmed and who is helped by inflation.