Abstract
The business cycle theory of Austrian economics explains effect of expansive-credit policies by conception of malinvestment, however, it emphasize the production sector but be short of referring to the consumption behavior. Therefore, this paper attempts to explore the effect of credit expansion on the consumption behavior by means of consumption structure. With the consumption knowledge, we can then apply the notion of time-consuming to the process of consumption decision-making. The underlying explanation laid in this paper is that the time required to accumulate new consumption knowledge will restrict the readjustment of consumption behavior so that the discrepancy between consumption sector and production sector occurs. Moreover, this inconsistence may be one of forces to turn boom to bust.