Classroom Activity - Economic Cycle in Pictures
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Here is a great starter activity that gets students thinking about what can happen at each stage of the economic cycle. The idea was created by Ruth Tarrant who will be presenting at our November conference at the Moller Centre Cambridge University and I have developed it a little further with some additional images. There are twenty six - an A to Z of images associated with different stages of the business cycle.
Download activity (PowerPoint ppt file)
The resource works well either as a printed handout that students can annotate or on an IWB or as a PowerPoint for students to complete. I have asked my students to decide at which stage of the business cycle these events / images might occur. They then place the letters associated with each image on one of the two cycle slides - one carries real world data for the UK and the other is a stylised diagram showing a business cycle.
It leads into a discussion of coincidient indicators, leading and lagging indicators. Later on - it should help to reinforce concepts from AD and AS analysis especially the non-linear AS curve at different levels of capacity utilisation. I am sure there will be many other symptoms of stages of the cycle that could be incorporated into a revised resource - students could be encouraged to choose another two or three of their own e.g. by searching for the ever growing selection of anecdotal indicators!
Download activity (PowerPoint ppt file)
Please do have a look and we are keen to have comments and feedback to develop the resource still further.
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