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The two caselets discuss the depression in the US in the 1930s and the recession in Japan in the 1990s. Caselet 1 discusses the reasons for the depression in the US in the 1930s and examines the role of government intervention in reviving the economy. Caselet 2 discusses the recession in Japan in the 1990s. It examines the monetary policy measures taken by the central bank and their impact on the economy. The caselets are structured to enable students to: (1) understand the concept of the business cycle and the behaviour of the business cycle; (2) understand the different phases of the business cycle and their impact on the economy; (3) understand what led to the Great Depression in the US in the 1930s; (4) understand the relationship between monetary policy and the business cycle; and (5) understand the role played by money supply in stimulating the economy. These caselets are aimed at MBA/PGDBA students and are intended to be part of the economics, politics and business environment curriculum.