Unemployment

Unemployment is a serious economic issue that affects almost all countries and all people either directly or indirectly.  In most market economies not everyone will have jobs all of the time.  It is important to understand unemployment and its causes in order to develop policies to help those individuals who suffer from the adverse effects of being unemployed.  The unemployment rate in the United States is never zero and usually remains between 5 and 6 percent with some years being slightly better or worse.  Unemployment rates fluctuate everywhere depending on the economic circumstances of the time.  There are some important things to understand when looking at unemployment:

Content:

• Defining the Labor Force
• Types of Unemployment
• Natural Rate of Unemployment
• Public Policies Affecting Unemployment
• Efficiency-Wage Theories
  • Henry Ford Case Study
• Comparing Unemployment Among Countries
  • Moral Hazard
• The Phillips Curve
  • Rational Expectations
  • Adaptive Expectations