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DOUBLE COINCIDENCE OF WANTS: The requirements of a barter exchange that each trader has want the other wants and wants what the other has. Because everyone doesn't necessarily want everything, the lack of double coincidence of wants is a major obstacle in barter exchanges, especially for complex, modern economies. While double coincidence of wants is also essential for exchanges involving money, it's such an inherent trait of money we don't think twice about it. By its very nature as a generally accepted medium of exchange, everyone WANTS money.

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Lesson Contents
Unit 1: Instability
  • Overview
  • Business Cycles
  • Expansionary Good Times
  • Contractionary Bad Times
  • Unit 1 Summary
  • Unit 2: A Simple Cycle
  • Long-Run Trend
  • Contraction
  • Trough
  • Expansion
  • Peak
  • Unit 2 Summary
  • Unit 3: Measurement
  • Indicators
  • Leading
  • Coincident
  • Lagging
  • Unit 3 Summary
  • Unit 4: Causes
  • Complexity
  • Investment
  • The Process
  • Politics
  • The Process
  • Unit 4 Summary
  • Unit 5: Policies
  • Options
  • Expansionary
  • Contractionary
  • Unit 5 Summary
  • Course Home
    Business Cycles

    To purpose of this lesson is to examine the nature and causes of macroeconomic instability, which goes by the handy title business cycles. Business cycles are the recurring expansions and contractions of economic activity that generate the problems of unemployment and inflation. This lesson explores how business cycles can be stabilized with the goal of lessening unemployment and inflation.

    • The notion of business cycles is introduced in the first unit of this lesson, with an eye on what they are and why they are important to study.
    • The four components of a standard, simple business cycle -- expansion, peak, contraction, and trough -- are then presented and discussed in the second unit.
    • The third unit is devoted to several key measures of business cycle activity, especially leading, lagging, and coincident indicators.
    • A couple of the most often discussed causes of business-cycle instability -- investment and politics -- are discussed in the fourth unit.
    • The fifth unit closes out this lesson with an introduction to the expansionary and contractionary economic policies used to stabilize business cycles.

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    BANK ASSETS

    What a bank owns, including loans, reserves, investment securities, and physical assets. Bank assets are typically listed on the left-hand side of a bank's balance sheet. Bank liabilities, what a bank owes, are listed on the right-hand side of a bank's balance sheet. Net worth is the difference between assets and liabilities. The largest asset category of most bank is loans, which generates interest revenue. A critical asset category used to maintain the safety of deposits is reserves (vault cash and Federal Reserve deposits).

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    Today, you are likely to spend a great deal of time at a flea market wanting to buy either a blue mechanical pencil or super soft, super cuddly, stuffed animals. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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    A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
    "The only thing that will stop you from fulfilling your dreams is you. "

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