This unit will introduce you to the fundamentals and history of inflation around the world. By covering key issues in inflation, this course will provide you with the ability to understand and critically evaluate basic and intermediate concepts related to inflation.

What you will learn

By the end of this unit, you will be able to:

  1. Understand the notions of inflation, deflation and hyperinflation, as assess their impact on individuals and economies.
  2. Recognise how the rate of inflation is measured.
  3. Understand the measurement of the main inflation indices, e.g. the CPI, the PPI and the GDP deflator (or implicit price deflator), and their usage in converting nominal to real data, e.g. HDP.
  4. Understand the impact of inflation on wages and savings
  5. Critically evaluate the implications of price instability.
  6. Analyse practical problems and evaluate historical episodes related to inflation

Course Info

Length: One 1 hour video

Institution: University of Glasgow

Level: low

Effort: 5 hours

Schedule: Self-paced