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Inflation and Unemployment

Some students had questions about the Phillips curve and the idea of the tradeoff between unemployment and inflation. Since we’re focused on Microeconomics in this class, I’m both 1) unprepared to answer in detail and 2) reluctant to take class time from the material we need to cover.

But if you are really interested in this topic, here’s a paper from Dr. Greg Mankiw on The Inexorable and Mysterious Tradeoff Between Inflation and Unemployment.

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