Macroeconomics: Objectives and Performance notes
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This GoConqr page gathers over 80 notes on Macroeconomics: Objectives and Performance, covering topics from national income and growth to inflation and policy. School students and university students can study these topics, while teachers can find ready-made material. Explore the notes and choose a topic to start with.
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- Circular flow of income47
- GDP and national income639
- Economic indicators82
- Aggregate demand and aggregate supply124
- Keynesian economics and the IS-LM model45
- Economic growth and living standards113
- Business cycle70
- Inflation and deflation121
- Unemployment and the Phillips curve100
- Balance of payments39
- Exchange rates15
- Fiscal and monetary policy227
- Supply-side policies12
Notes
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Intermediate Macroeconomics Short Run Macroeconomics Labour markets + unemployment Macroeconomic adjustment long-run macroeconomics open economy macroeconomicsaggregate output - measured through national income accounts - Key measures: GDP and G...
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28 National income Key points: The most commonly used measure of national income is Gross domestic product (GDP) National income can be measure in real or nominal terms and as a total or per capita National income stats are used by acad...
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Key Macro Revision Topics Key Macro Revision Topics · Pros and cons of globalisation (especially for developing countries) · Pros and cons of free trade · Pros and cons of protectionism · Brexit - UK and EU benefits and drawbacks · Pros and co...
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44 Macroeconomic conflicts and trade-offs Key points:There are potential conflicts and trade-offs between macroeconomic objectivesThere are potential conflicts and trade-offs between different economic policiesUsing several policies at once can sometimes redu...
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IB Economics SL: Macroeconomics - created from Mind Map Measuring National Income Macroeconomic Models Supply/ Demand side policies
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Economic Growth Measurement of economic growthCan be measured by change in national output over a period of timeNational output is all goods and services produced by a country- Measured by value of GDPRate of economic growth is speed...
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Economics_-Macoenomics Government Goals Macroeconomic Policies: Policies which affect the whole economy such as investments, consumer spending and taxation These policies are aimed at government goals: equity, stability and growth Ex...
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12.5 Evaluating government policies to deal with unemployment and inflation Unemployment policies: 1. Cyclical unemployment: -caused by low or falling AD -measures to correct it involve expansionary demand-side policies or fiscal and monetary policies STRENGTHS OF FISCAL POLICY: ...
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27 The circular flow of income Key points: The circular flow of income shows that the output of an economy can be measured as national output, national expenditure or national income Injections into the circular flow are investment, govt. spending ...
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Macroeconomics (A Level Economics Year One) 1.1 The Objectives of Government Economic Policy The objectives of government macroeconomic policy; economic growth, price stability, minimising unemployment and a stable balance of payments on the current account Eco...
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PAPER 1 Circular Flow Model (Open) The circular-flow model of the economy is a simplification showing how the economy works and the relationship between income, production and spending in the economy. Includes the foreign sec...
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Economics - Mod 2 - Unit 2 Unit 2 - How the Macro-economy Works Aggregate Demand The government desires economic growth because in theory it should lead to higher levels of prosperity and livings standards. Economic growth occurs when there is ...
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Fiscal Policy - created from Mind Map Fiscal policy is the manipulation of government spending, taxation and borrowing, affecting aggregate demand. Fiscal policy can influence the current balance and imports through its effects on AD Keynes vs Classical
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Fiscal Policy - created from Mind Map_1 Fiscal policy is the manipulation of government spending, taxation and borrowing, affecting aggregate demand. Fiscal policy can influence the current balance and imports through its effects on AD Keynes vs Classical
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Fiscal Policy - created from Mind Map_2 Fiscal policy is the manipulation of government spending, taxation and borrowing, affecting aggregate demand. Fiscal policy can influence the current balance and imports through its effects on AD Keynes vs Classical
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Fiscal Policy - created from Mind Map_4 Fiscal policy is the manipulation of government spending, taxation and borrowing, affecting aggregate demand. Fiscal policy can influence the current balance and imports through its effects on AD Keynes vs Classical
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Konan exam 1 notes Chap -8 DefinitionsBusiness cycle: Ups and Downs of economic activity. Consists of expansions and recessions.Economic expansion: Period of rising real GDP. Economic Activity and employment are higher. Contraction or r...
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Economics - module 2 - unit 3 Unit 3 - Economic Performance The Macroeconomic Objectives of the UK Government1. To increase the growth performance of the economy by raising the trend rate of growth. The trend rate is the increase in the productive...
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Economics - mod 2 - unit 3 Unit 3 - Economic Performance The Macroeconomic Objectives of the UK Government1. To increase the growth performance of the economy by raising the trend rate of growth. The trend rate is the increase in the productive...
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Economics - Module 2 - Unit 1 Unit 1 - The Economic Cycle A key objective of Government is to increase the total output of goods and services produced and consumed within the economy because this leads to higher employment and living standards. Th...
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Economics - Module 2 - Unit 1 Unit 1 - The Economic Cycle A key objective of Government is to increase the total output of goods and services produced and consumed within the economy because this leads to higher employment and living standards. Th...
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12.2 Fiscal policy The government budget: 1. Sources of government revenue: taxes of all types -indirect and direct -most important source of government revenue from the sale of goods and services -transportation -electricity -wa...
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IB Economics Study Guide Review Guide for Final Exam IB Year One – MacroeconomicsTime: 2 hours, 1 hour for Paper One and 1 hour for Paper Two · Paper 1: Students will pick from 1 of 2 possible questions · Paper 2: Students will pick from 1 of...
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UK Housing Market UK Housing MarketExtremely important for two main reasons: 1. Housing usually represents a household's biggest single purchase, and a house represents the largest single item of consumer wealth 2. Changes in house pri...
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4 Outline: Money, Interest Rates and Exchange Rates Money Defined: A Brief Review Money as a Medium of Exchange most important function of money: medium of exchange: generally accepted means of payment Monetary developments influence the exchange rate by changing both ...
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Monetary Policy Monetary policy involves the changes in interest rates, supply of money, and credit and exchange rates to influence the economyThe policy influences the decisions we make about how much we save, spend and borrowThe Mo...
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lecture 24 ch21 Fiscal Policy The government can influence the behavior of the economy through fiscal policy Definition- Fiscal policy is the setting of the level of government spending and taxation by government policymakers When th...
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BOP BOP23 December 2019 BOP Current Account balance. -25,494The BOP payments records all flows of money into and out of a countryFour Sections to Current ACCOUNT:Trade in goods, Trade in Services, Investment and employmen...
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26 National economic performance Key points: The macroeconomic performance of an economy can be judged on its rate of economic growth, unemployment, inflation and its current account balance on the balance of payments The macroeconomic objectives of ...
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9.1 Aggregate demand (AD) and the aggregate demand curve Aggregate demand (AD): -the total amount of real output or real GDP that consumers, firms, the government and foreigners want to buy at each possible price level over a particular price period -influence by automatic ...
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Inflation and Deflation Inflation is the sustained rise in the average price of goods and services over a period of time - not all goods rise the sameInflation is the fall in the value of money. This means money buys less than it would befor...
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Aggregate demand Aggregate means ‘total’ and in this case we use the term to measure how much is being spent by all consumers, businesses, the government and people and firms overseas.Aggregate demand (AD) = total spending on goods an...
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30 Investment Key points: Investment is the purchase of capital goods which are then used to create other goods and services. It differs from saving, which is the creation of financial obligation The level of investment is determin...
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C.2 Economics, Skill #4- Notes C.2 Economics, Skill #4- Notes Analyze how macroeconomic factors (e.g., national income, employment, price stability) influence the performance of economic systems. Macroeconomics
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Macroeconomics MACRO LECTURE 1 NEOCLASSICAL ECONOMICS- building on the pioneering work of Adam Smith(1723-1790)(the father of modern economics), neoclassical economics of the early 1900s were built on 3 core theoretical belie...
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lec 20 ch 20 History: Classical Model Definition- The classical model is a macroeconomic model that explains the long-run behavior of the overall economy. This model was developed in the late 1800s and earlier 1900s Attempted to e...
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Macroeconomics CONT. MACROECONOMICS CONTINUED ENDOGENOUS GROWTH (GROWTH THEORY PART 3)Concerns with basic Solow swan • Output growth determined by productivity growth which is taken as exogenous, and hence unexplained • Strong implication...
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12.3 Monetary policy monetary policy: -carries out by the central bank of each country central bank: a government financial institution with a number of responsibilities: 1. banker to the government: -holds the government's cash -receives...
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Economics - AS AD (Macro) AS ADDefine and distinguish between short-run aggregate supply and long-run aggregate supply.Short-run aggregate supply is the relationship between the quantity of real GDP supplied and the price level when the money ...
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Economics notes for unemployment internal The 4 types of unemployment: - Structural - Cyclical - Seasonal - Frictional Frictional: Definition: The unemployment which exists naturally in any economy due to people being in the process of...
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GoConqr OriginalMacroeconomics: Objectives and Performance notes
These user-made notes offer written explanations of topics across the unit. They cover national income, economic growth, inflation, unemployment and government policy. Some focus on a single measure or concept; others bring several topics together.
Choosing a starting point
Start with Intermediate Macroeconomics for a broad overview that includes labor markets, unemployment and national income. For a narrower topic, Economic Growth introduces the measurement of growth, while The Consumer Price Index looks at a measure of inflation.
You can then read the notes on conflicts and trade-offs between macroeconomic objectives and policies. They offer a way to connect the individual topics you have studied.
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Read a section, write a short summary in your own words, and check it against the original. If you want a visual overview, switch to a mind map on the unit page; use a quiz when you are ready to check your understanding. Choose a note and begin with one section.
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Which note is a good place to start?
Intermediate Macroeconomics is a useful starting point if you want a broad view, with topics including labor markets, unemployment and national income. If you are studying one topic, Economic Growth or The Consumer Price Index offers a more focused starting point.
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Which students can use these notes?
The collection includes material for school and university students. Some notes refer to IB Economics, while others cover topics such as national income and economic growth in a broader way. Check each note against the topics and terminology used in your course.