1. Lectures in Macroeconomics- Charles W. Upton Business Cycles

2. Peaks and Troughs Peak Trough

3. Business Cycles Peaks and Troughs Peak Trough

4. Business Cycles Peaks and Troughs Peak Trough These periods are caused Business Cycles

5. Business Cycles Peaks and Troughs Peak Trough These periods are caused Business Cycles What Causes Them?

6. Business Cycles Peaks and Troughs Peak Trough These periods are caused Business Cycles What Causes Them? And What Can (or Should) Be Done About Them?

7. Business Cycles Historical Data

8. Business Cycles The Great Depression

9. Business Cycles The Panic of 1893

10. Business Cycles The 1980’s

11. Business Cycles The Recession of 1990

12. Business Cycles The Recession of 2001

13. Business Cycles The Recession of 2001 How do we know the recession ended in November 2001? The Business Cycle Reference Committee of the National Bureau of Economic Research (NBER) tells US

14. Business Cycles A False and True View of Cycles The False View –Patient doing nicely, but suddenly gets sick. Peak. –Patient recovers and immediately bounces back to health. Trough

15. Business Cycles A False and True View of Cycles The True View –Patient doing nicely, but suddenly gets sick. Peak. –Patient reaches bottom and begins the process of returning to health. Trough

16. Business Cycles End ©2004 Charles W. Upton. All rights reserved