Riding the Waves: Understanding Business Cycles and Recessions

What causes economies to boom and bust? In this episode, we break down the business cycle—its phases, causes, and consequences—and explore what defines a recession versus a depression. We examine different ways recessions are identified, including the technical definition and the broader NBER approach, and look at historical examples from Australia. You'll also learn about the long-term impacts of economic downturns and how policymakers attempt to smooth out the ride. Perfect for students, economists, or anyone curious about the forces shaping our economy.

Source: https://www.rba.gov.au/education/resources/explainers/