Understanding Economic Cycles: Boom, Bust, and Recessions

Miacademy & MiaPrep Learning Channel

This educational video provides a clear and accessible introduction to the complex topic of economic cycles and how we measure the health of an economy. It breaks down the natural ebb and flow of market economies, defining key phases such as expansion, peak, contraction, and trough, and explains the technical definition of a recession. The host uses relatable examples, such as the contrast between the Roaring Twenties and the Great Depression, to illustrate these concepts concretely. Beyond basic definitions, the video explores why economic news can often feel contradictory or disconnected from personal reality. It highlights how different industries, geographic regions, and income levels experience economic changes differently—explaining why a booming national economy might not feel that way to everyone. This nuance introduces students to the importance of perspective when analyzing social data. For educators, this resource serves as an excellent primer for units on economics, financial literacy, or civics. It encourages critical thinking by providing specific questions students can ask to evaluate economic claims, rather than just accepting headlines. The video fosters data literacy by introducing indicators like GDP, employment rates, and inflation, making it a valuable tool for teaching students how to interpret real-world information.