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Macroeconomics
Table of Contents
Topic pack - Macroeconomics - introduction
Key terms - the level of economic activity
Key terms - aggregate demand and supply
Key terms - macroeconomic objectives
Key terms - macroeconomic policy
Aims of the economics course
Assessment Objectives
Section Two Structure
Using the pack
2.1 The level of overall economic activity (notes)
Overall economic activity - introduction
The circular flow of income model (1)
Circular flow - two sector closed
Circular flow - two sector open
Circular flow - three sector open
Circular flow - government
The circular flow of income model (2)
Circular flow - a summary
Some mathematics
Measures of economic activity
Examining the three methods of calculating national income
What is GDP? (video)
Different national income measures
Real v money data
Current and constant prices
Using index numbers
Total and per capita
Case study - rapid economic growth
Using national income data
Purchasing power of GDP
Alternative measures of GDP
Case Study
Short term fluctuations and long term trends
The business cycle in history
2.1 The level of overall economic activity (questions)
Self-test questions
Short questions
Data response (1)
Data response (2)
Long Questions
Section 2.2 Aggregate demand and supply (notes)
Aggregate demand and supply - introduction
The AD/AS model
Aggregate demand curve
Changes in aggregate demand
Short-run aggregate supply (SRAS)
Changes in SRAS
Long run aggregate supply (LRAS) - classical
Changes in LRAS - classical
Long run aggregate supply (LRAS) - Keynesian
Aggregate supply changes
Full employment level of national income
Equilibrium national income
The essentials of AD and AS
Changes in short-run equilibrium - summary
Equilibrium in the long run?
Equilibrium in the Keynesian model
Inflationary and deflationary gaps
Keynes vs. Hayek (video)
The Keynesian multiplier
Section 2.2 Aggregate demand and supply (simulations and activities)
Diagram toolkit
National income equilibrium (1)
National income equilibrium (2)
National income equilibrium (3)
National income equilibrium (4)
DragIT - Aggregate demand and supply
2.2 Aggregate Demand and Aggregate Supply (questions)
AD/AS - self-test questions
Short questions
Data response (1)
Data response (2)
Long questions
2.3 Macroeconomic objectives (notes)
Macroeconomic objectives - introduction
Low Unemployment
Low Unemployment
What the data says
The meaning of unemployment
Case study - regional variation
Consequences of unemployment
Case study - tougher for men
Types and causes of unemployment
Disequilibrium unemployment
Equilibrium unemployment
Policies to reduce unemployment
Low and stable inflation
Low and stable inflation (notes)
The meaning and measurement of inflation
A consumer price index
Finding out more about consumer price index weights
Problems with measuring inflation
Inflation - videos
Consequences of inflation
Hyperinflation
The consequences of deflation
Types and causes of inflation: demand-pull inflation
Types and causes of inflation: cost-push inflation
Case Study - car prices in Trinidad
Possible relationships between unemployment and inflation
PlotIT - Phillips curve
Phillips curve - long-run
Natural rate of unemployment
NAIRU
Economic growth
Economic growth (notes)
Causes of economic growth
Economic growth and the PPF (1)
Economic growth and the PPF (2)
Economic growth and the business cycle
Economic growth and the aggregate supply curve
Consequences of economic growth
Equity in the distribution of income
Equity in the distribution of income (notes)
Indicators of income equity
Poverty
The poverty line: An Indicator of Relative poverty
The causes of poverty
The role of taxation in promoting equity
The role of taxation in promoting equity (notes)
Other methods of promoting equity
2.3 Macroeconomic objectives (questions)
Macroeconomic objectives - self-test questions
Short questions
Data response question (1)
Data response question (2)
Long questions
2.4 Fiscal policy (notes)
Fiscal policy - introduction
The government budget
Types of government expenditure
A Case study: Government spending in the UK
The budget outcome
Fiscal policy and short-term demand management
Impact of automatic stabilisers
Fiscal policy and its impact on potential output
Evaluation of fiscal policy
The multiplier effect & fiscal policy
Accelerator
Crowding out
2.4 Fiscal policy (questions)
Self-test questions
Short questions
Data response (1)
Data response (2)
Long questions
2.5 Monetary policy (notes)
Monetary policy - introduction
Interest rate determination and the role of a central bank
Interest rate determination
Case study
Monetary policy and short term demand management
The analogy of the balloon
Interest rate changes & Aggregate Demand
Monetary policy and inflation targeting
Evaluation of monetary policy
Case Study - The Credit Crunch
2.5 Monetary Policy (questions)
Self-test questions
Short questions
Data response (1)
Data response (2)
Long questions
Section 2.6 Supply-side policies (notes)
Supply-side policies - introduction
The role of supply-side policies
Interventionist supply-side policies
The supply-side - case study
Market based supply-side policies
Market-based supply-side policies - case study (1)
Evaluation of supply-side policy
2.6 Supply-side policies (questions)
Self-test questions
Short questions
Data response (1)
Data response (2)
Long questions
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