Title: Module 3 Introduction: (CU3 M3)
Course: SkillsCom EC 202 15.0 > Section: Credit Unit 3 Module 3 - Inflation, Unemployment, & the Federal Reserve Policy

Module 3 builds from the previous Module by examining the short run and long run relationships between unemployment and inflation. This examination includes the introduction of the Phillips curve. Additionally, this relationship is examined from the perspective of a Federal Reserve Bank that has the joint goal of low unemployment and low inflation.

Module Outcomes:

- Explain the short run and long run relationships between unemployment and inflation.
- Draw the short run and long run Phillips curves.
- Explain how contractionary and expansionary monetary policy affect the Phillips curves.