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MACRO ECONOMICS RESEARCH ASSIGNMENT Economic "crises" occurred throughout the 19th century. By the latter part of the century, a number of observers had come to the conclusion that there was a regular, wavelike pattern to crises, and they called this pattern the business cycle. A cycle with its regular and periodic fluctuations needed an explanation. What caused the pattern? What forces determined the length and amplitude of the waves? Could the cycle be eliminated? Business …

…no attention to the role of aggregate supply. Instead, it assumed that all that mattered was the determinants of demand. Economists also paid no attention to inflation. The government is also trying to control the cycle and this is disrupting its natural fluctuations. Bibliography. · Australian Bureau of Statistics, [Online]. (2001). Available WWW:Http://www.abs.gov.au/ · Greenwald, D. (1994). Encyclopedia of Economics. Washington: R.R Donnelley & Sons. · Parry, G. Kemp, P. (2000). Exploring Macroeconomics. WA: Lamb Print.