Economic History
The Wall Street Crash of 1929 contributed to this important period in US history.
The Great Depression
This US government entity is responsible for tempering inflation and reducing unemployment
Federal Reserve
This economist authored "The Communist Manifesto" and co-wrote "Das Kapital."
Karl Marx
This fiscal tool was used for the first time during the Covid-19 pandemic to promote consumer spending
Stimulus Checks
This term describes the phenomenon in an economy where overall prices are rising steadily over time.
Inflation
Alexander Hamilton, a Founding Father with federalist ideologies, served as the first secretary of this department within the government.
Treasury
This policy taxes imported goods, ultimately raising their prices, in an attempt to promote domestic industry
Tariffs
This Nobel laureate in economics is famous for his work on game theory and "Nash equilibrium."
John Nash
This French painter's work inspired the impressionist movement. He spent the last 20 years of his life painting water lilies in his garden.
Claude Monet
In economics, this term describes the cost of forgoing an alternative choice when making a decision.
Opportunity Cost
During the Great Depression, President Franklin D. Roosevelt implemented this program to regulate the stock market and protect investors.
The Securities and Exchange Commission (SEC)
This term refers to a government policy tool that involves changing interest rates to influence borrowing and spending in the economy
Monetary Policy
This economist is often called the "Father of Modern Economics" and authored "The Wealth of Nations."
Adam Smith
The Big Short was a biographical film set during this contractionary economic period in recent US history
The Great Recession
This economic system is characterized by private ownership of the means of production and minimal government intervention.
Capitalism
This economic event in the 1970s led to a significant increase in oil prices and had a global economic impact.
The Oil Crisis (or Oil Embargo) of 1973
This term describes a government policy that aims to control inflation by reducing the money supply and increasing interest rates.
Contractionary Monetary Policy
This economist's book "The General Theory of Employment, Interest, and Money" revolutionized economic thought during the 20th century.
John Maynard Keynes
This book, later became a podcast, applies economic theory to diverse subjects not usually covered by "traditional" economists.
Freakonomics
This economic term refers to the practice of selling a product below its cost with the aim of driving competitors out of the market.
Predatory Pricing
In 1944, representatives from 44 nations gathered for this conference in a small town in New Hampshire, USA, to establish a new international monetary system.
Bretton Woods
This general term refers to the policies that aim to protect and promote competition within all sectors of an economy.
Antitrust Laws
This man is the head of the OU Economics Department. He is also very nice.
Dr. Gregory Burge
The international supply of this agricultural commodity has been restricted following the Russian invasion of Ukraine
Wheat
This economic theory, named after an economist from the 20th century, emphasizes that government should increase public spending during economic downturns to boost demand and employment.
Keynesian Economics