Course glossary

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During lectures you will learn new words. Using this link you are welcome to add them to our "course glossary", so that other students will be able to see them and learn. Let's make our own useful glossary and help each other to learn new words! By the way, there are already some worlds which should be familiar for you till the end of the course, try to cover them when you mill have free time.



Browse the glossary using this index

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H

Households

The basic unit of individual economic behavior. Households offer labor supply to the labor market, earn income (from employment and other sources), make consumer purchases, and care for each other through unpaid labor within the home.

Hyper-inflation

A situation of extremely rapid inflation (reaching 100% per year or more), often resulting from a condition of economic or political breakdown.