The document discusses the phases of the business cycle including expansion, peak, recession, trough, and recovery. It then summarizes several theories that attempt to explain the causes of business cycle fluctuations, including the pure monetary theory, monetary over-investment theory, Schumpeter's innovation theory, multiplier-accelerator interaction theory, and Hicksian theory. Each theory is outlined and briefly criticized for its assumptions and limitations in fully explaining real-world business cycles. The conclusion calls for finding solutions to control fluctuations in light of these theoretical explanations.