Expansion, peak, contraction, trough... repeat. And so goes the business cycle. The business cycle is an unfortunate side effect of capitalism. A primary focus of Macroeconomics is the business cycle.
As I got started introducing Macroeconomics to my class I realized a quick activity to identify the different parts of the business cycle could be helpful as an in-class activity or as a quick review for some students. So here it is along with a description of the business cycle and explanation of the macroeconomic goals for the economy.