Fundamentals of Macroeconomics Helen Moise ECO 372 Principles of Macroeconomics Monday April. 15‚ 2013 Alexander Heil Fundamentals of Macroeconomics Economics is the social investigation and recording of the way individuals‚ businesses and their government function together in an effort to sustain prosperity within an economy through its production‚ distribution and spending habits or how the community consumes money‚ materials‚ services‚ etc.‚ within a community or country. The economy
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failures. Macroeconomics • Macroeconomics studies economics on a national level‚ focusing on not just individual business practices‚ but entire industries and the behaviors of government economics. This enormous field of study involves two basic concepts: adjustments in national income and economic growth. The national income‚ debt levels‚ foreign trade rate‚ gross domestic product (or total economic spending) and unemployment rates are also all considered in the function of macroeconomics. Macroeconomics
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Distinction between Microeconomics and Macroeconomics Distinction between microeconomics and Macroeconomics Microeconomics is the study of individual economic units of an economy whereas macroeconomics is the study of aggregates of an economy as a whole. For example‚ when we study of an individual sugar mill manufacturing sugar‚ our study is micro analysis but if we study the entire sugar manufacturing sector of the economy‚ our study is macro analysis. Also please note if we study the problem
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A ..define macroeconomics? Ans. Macroeconomics considers the performance of the economy as a whole. Many macroeconomic issues appear in the press and on the evening news on a daily basis. When we study macroeconomics we are looking at topics such as economic growth; inflation; changes in employment and unemployment‚ our trade performance with other countries (i.e. the balance of payments) the relative success or failure of government economic policies and the decisions. ..give examples of macroeconomic
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micro and macroeconomics are the most well-known. Over the years‚ both have become an increasingly common part of high school and college-level curriculums. Despite their popularity‚ however‚ the principles of these disciplines are frequently misunderstood or confused. While they share some of the same concepts and are interrelated in important ways‚ there is a fundamental difference between micro and macroeconomics. The simplest way to distinguish microeconomics from macroeconomics is to think
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The Bank of England (BoE) finds itself at a crossroads in terms of its record low interest rate that stands as an attempt to spur Aggregate Demand (AD)‚ The overall demand for all products in an economy at any given price level‚ in spite of an inflation rate of 2.7% that is above the target rate of 2%. BoE recognizes that in a period of extended economic contraction it is important to spur AD as any decrease in AD results in a loss of real output (RGDP). BoE only has the ability to do this using
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ECO 202 - WEEK 2 MEASURING MACROECONOMIC PERFORMANCE LECTURER: PHEH PIK TENG WEEK 2 – MEASURING MACROECONOMIC PERFORMANCE What is Gross Domestic Product (GDP)? • It is a measurement to determine the economic health of a country. • Economists take measurements of the economy to find out how the economy is doing. • GDP is the value of the aggregate production of goods and services in a country during a given time period. • It is the total market value of all final goods and services produced
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: : : : : FMMACRO / Intermediate Macroeconomics FINMAT2 and ECONTWO NONE Basic Claro dG. Cordero‚ Jr. 1st Term‚ AY 2014-2015 COURSE DESCRIPTION This course deals with the analysis of overall behavior of the economy. It will strive to explain trends of fluctuations in important macroeconomic aggregates like output‚ employment and prices. It will also cover important theoretical underpinnings behind different paradigms in macroeconomics as in Keynesian and classical models. Using
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M EASTERN MEDITERRANEAN UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS DEPARTMENT OF BUSINESS ADMINISTRATION 2012-2013 SPRING SEMESTER COURSE CODE: MGMT 510 COURSE LEVEL: 1st SEMESTER MBA COURSE TITLE : Macroeconomics for Managers COURSE TYPE : AREA CORE LECTURER : PROF. DR. SERHAN CIFTCIOGLU CREDIT VALUE : 3 CR.HRS. PREREQUISITIES : ECON 201 DURATION OF COURSE : ONE SEMESTER WEB - LINK : http://fbemoodle.emu.edu.tr OFFICE HOURS : MONDAYS : 14:30-15:20 THURSDAYS: 15.30-16.20
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Flows Money Sector Flows Sales Revenue Goods Suppliers (Producers) q = f (L‚ K‚ M‚ T‚ E) Transformation Expenditure Product/Service Consumption Budget Goods Demanders (Consumers) U = f (q1‚ q2‚ …) Transformation Goods Markets Macroeconomics U1: Blanchard Chs. 1~2‚ 27 1. Overview of the Modern Macroeconomy 1.1 Essential Structure (2) Atemporal Transaction in Goods or Factor Markets Supplier/Seller Receive Goods or Factors Money Payments Demander/Buyer Pay Intertemporal
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