1. Introduce the topic: short-run changes in economic activities (business cycles), and the model of Aggregate Demand and Aggregate Supply (AD/AS).
2. To decide where we are on the business cycle, we need to evaluate the changes in Real GDP, CPI, and Unemployment. What factors affect Aggregate Demand and Aggregate Supply in 2024 (find the most recent data on CPI, Real GDP, and unemployment)?
3. Take a look at the most recent changes in business and consumer confidence, and changes in fiscal and monetary policies to predict future shifts in AD/AS.

Sources:

• CPI:Consumer Price Index (CPI) Databases : US Bureau of Labor Statistics
• Unemployment:Current Population Survey (CPS)
• GDP: Bureau of Economic Analysis
• Monetary Policy:Federal Reserve Board - Monetary Policy
• Fiscal Policy:An Update on Fiscal Drag | The White House,

The White House

• Federal Reserve Board - Beige Book
• US Consumer Confidence
• Consumer Expectations - FEDERAL RESERVE BANK of NEW YORK
• Average Energy Prices, Chicago-Naperville-Elgin - March 2024 : Midwest Information Office