Teacher's Notes

Theme:
Many factors influence business cycles, and economists differ on what the true causes are.

Sub-theme:
Georgist economists stress the fundamental role of land speculation in economic booms and busts.

Concepts:

• land speculation
• overproduction/underconsumption
• accelerator principle
• speculative bubble

Performance objectives -- this lesson focuses on developing skills at:

• Interpreting a moderately difficult reading on macroeconomic effects
• Applying concepts imaginatively to interpret a cartoon
• Exploring a new concept -- the accelerator principle -- by working through an example

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