Chapter objectives Difference between short run long run Introduction to aggregate demand Aggregate supply in the short run long run See how model of aggregate supply and demand can be used to analyze short-run and long-run effects of "shocks" CHAPTER 9 Introduction to Economic Fluctuations slide 1 slide 1 § Difference between short run & long run § Introduction to aggregate demand § Aggregate supply in the short run & long run § See how model of aggregate supply and demand can be used to analyze short-run and long-run effects of “shocks