Stories or analysis about the economy can sometimes seem like a word soup of jargon. That’s why this episode we’re taking 11 common (and some not-so-common) economic terms and defining them in plain English. From quantitative tightening to stagflation to GDP, Scotiabank Economist Laura Gu returns to help bolster our vocabulary. 

Looking for another vocabulary expanding economic primer? Check out our Inflation 101 episode. 

Key moments this episode: 

1:36 — Term 1: GDP 

3:00 — Term 2 and 3: Monetary policy vs fiscal policy 

4:33 — Term 4: Output gap 

6:33 — Term 5: Quantitative tightening 

9:21 — Term 6: Stagflation 

12:05 — The lighting round and term 7: Core inflation 

12:19 — Term 8: Terminal rate 

12:32 — A curveball! 

12:40 — Term 9: Basis point 

12:56 — Term 10: Hyperinflation 

13:30 — Term 11: NAIRU 

13:57 — We reveal Laura’s extremely valuable and high-tech prize