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Ethan Parmar
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Decks in this class (73)
Macro - Topic 1
Macroeconomics meaning,
What are the 2 main things we loo...,
What is aggregate demand
75
cards
Topic 2
If 5 is circulated around the eco...,
Is nationa income output and expe...,
Which two parties are the reason ...
48
cards
Topic 3 - Eco Growth
What is eco growth,
How can you increase eco growth i...,
What are the advantages of eco gr...
26
cards
Topic 3 - Employment
What is unemployment,
How can unemploymnet be reduced,
What are some supply side policie...
19
cards
Topic 3 - Inflation and Deflation
What is inflation,
What is deflation,
What are the types of deflation
27
cards
Topic 3 - Objectve Conflicts
What are objective conflicts,
What are some key conflicts 5,
What garph can be used for these ...
5
cards
Topic 4 - The structure of financial markets
What are the functions of money 4,
What are the types of money,
What is broad money
27
cards
Topic 4 - banks
What is the purpose of banks 3,
What is the main aim of banks,
What are the types of banks 3
18
cards
Topic 4 - Central banks and monetary policy
What is the function of the centr...,
What is meant by central banks be...,
What is monetary policy
17
cards
Topic 4 - Regulations of the financial system
What is the role of the financial...,
What can the pra,
What are liquidity ratios
14
cards
T5 Fiscal Policy
What does fiscal policy involve,
What is government spending,
What at are the 3 types of govern...
35
cards
T5 SS Policies
What are the types of supply side...,
Intervensionist supply side polic...,
Free market ss policies are where
15
cards
Useful Statistics
In 2022 what caused energy prices...,
In 2022 what caused energy prices...,
What was the change in energy pri...
11
cards
T6 Globalisation
What is globalisation,
Examples of globalisation,
Reasons for globalisation progres...
17
cards
T6 Trade
What is absolute advantage,
What is comparative advantage,
What are some criticisms of compa...
20
cards
T6 BoP
What is the balance of trade,
Is the balance of trade an amount...,
What are the main sections of the...
26
cards
T6 ER's
What is an exchange rate,
How does the value of the exchang...,
What is a exchange rate index
22
cards
T6 ecogrowth and development
What is economic development,
How can eco development occur 4,
What are characteristics of a dev...
24
cards
Micro T1
What is a social science,
Given an examply of eco as a soci...,
What is a value judgement
68
cards
Micro T2 - Consumer Behaviour
What is the law of demand,
What is desire demand,
What is effective demand
20
cards
Micro T2 - Imperfect Information
Consequences of consumers having ...,
What is assymetric information,
Impacts of assymetric information
6
cards
Micro T2 - Behavioural Economics
What is behavioural economics,
What is the difference about the ...,
What is the difference about the ...
24
cards
Micro T2 - Behavioural Economics and Economic Policy
What is choice architecture,
What is an example of choice arch...,
What is default choice
22
cards
Topic 3 - Determinats of Demand
What is a market,
What are competiive markets,
What is equilibrium price
9
cards
Topic 3 - Price , Income and Elasticity
What is elasticity,
What is price elasticity of demand,
What does elastic demand mean
41
cards
T3 - Price Determination
What does a supply curve show,
What do higher selling prices imply,
What incentivises firms to expand...
10
cards
T3 - PES
What is the price elasticity of s...,
What can pes be used to explain,
How do you calculate pes
17
cards
T3 - Determinants of Equilibrium Prices
What is a factor market,
What is a good market,
What is market equilibrium
12
cards
T3 - The interrelationship between markets
What is joint supply,
What is competiting supply,
What are factor markets
13
cards
T4 - Costs and Revenues
What is total revenue,
Is price constant for total revenue,
How to calculate total revenue
6
cards
Production and Productivity
What is production,
How many factors are fixed in sho...,
How many factors are fixed in lon...
18
cards
T4 - Specialisation and divisons of labour
What is specialisation,
When can specialisation happen,
Beneifits of specialisation
8
cards
T4 - Law of diminshing returns
What is very short run,
What is the short run,
What is the long run
22
cards
T4 - Cost of production
What are fixed costs,
What is average fixed costs,
What happens to afc as output inc...
10
cards
T4 - Economies and Diseconomies of scale
What are economies of scale,
Difference between ros and eos,
Examples of eco of scale
15
cards
T4 - Revenue
What is total revenue,
What is marginal revenue,
What is ar equal to when demand i...
6
cards
T4 - Profit
What do economist argue firms sin...,
What is normal profit,
What are incumbent firms
12
cards
T4 - Tech change
What is invention,
What is innovation,
Effects of tech change
11
cards
T5 - Market Structures
What are the types of markets,
What is perfect competiton,
What is monopolistic comp
7
cards
T5 - Obj of firms
What are some firm obj,
Explain a perfect competion deman...,
Why in perfect comp does d ar mr p
17
cards
T5 - Perfect comp
Is perfect comp realistic,
What do firms not compete on in p...,
Features of perfect comp
22
cards
T5 - Monopoly
Barriers to entry in a monopoly,
Natural barriers to entry in a mo...,
Artifical barriers to entry
25
cards
T6 - Oliogopoly
What is an oligopoly,
Features of an oligopoly,
Barriers to entry in an oligopoly
33
cards
T5 - Monopolistic Competition
What is monopolstic competition,
Examples of monoplstic competition,
What is monoplostic comp a combin...
12
cards
T5 - Price Discrimination **
What is 1st degree pd,
2nd degree price disc,
3rd degree price descrimination
22
cards
T5 - Dynamics of Competitiom
Short term pros of competition,
Long run pros of comp,
Npc examples
7
cards
T5 - Contestable markets
What is a contestable market,
Will there be sunk costs in conte...,
What threat is there for firms in...
10
cards
T5 - consumer and producer surplus
What is paerto optimality,
What is consumer surplus,
What is producer suprlus
7
cards
T7 - distriubution of income and wealth
What is income,
What is wealth,
What is the distribution of incom...
20
cards
T7 - Poverty
What is relative poverty,
What is absolute poverty,
How can eco growth reduce poverty
7
cards
T7 - government policies to deal with poverty etc***
Methods to reduce incoem inequali...,
What are the different tax systems,
What is the aim of progressiev ta...
22
cards
T8 - Allocation of resources
Functions of price,
What is the invisible hand of the...,
When does teh signalling function...
4
cards
T- Meaning of MF
What is an externality,
What is social benefit,
How to calcualte sb
32
cards
T8 - Private, Publci and Quassi Pulic goods
What is a public good,
What does no excludeable mean,
What does non rivalrous mean
28
cards
T8 - Externalities *** GRAPHS
What is an externality,
What is mpb msc,
What si msb
14
cards
T8 - merit and demerit goods - ***GRAPS
What si a maerit good,
What do merti goods cause,
Characteristics of merit goods
16
cards
T8 - Market Imperfections
What is info failiure,
Causes of info failirue,
Gov intervention to deal with inf...
14
cards
T8 - COmp policy
Parts of uk comp policy,
Comp policy aims,
What are the 4 pillars of uk and ...
20
cards
T8 _ publcie ownership
What si a market economy,
What si a market economy,
Benefits of privatisation
28
cards
T8 - gov intervention
What is it,
Reasons for it,
Types of inetrvention
73
cards
T8 - gov failiure
What is gov fialiure,
What is gov fialiure,
Exampels of when gov should intervee
41
cards
T6 = Marginal revenue product theory
What is dervived demand,
What si marginal revenue product,
What si marginal revenue product
19
cards
T6 - influences of supply of labour
Economically inactive meaning,
What is the particiption rate,
Factors infleucnign supply of labour
7
cards
T6 - wages and employments in competitive labour markets
Features of perfectly comp labour...,
What are firms in perfect y comp ...,
Because firms are wage takers wha...
6
cards
T6 - imperfectly competitive markets
Imperfections of the laboru amrket,
What is a monopsony,
Why in impfrfect comp market is m...
24
cards
t6 - influence of trade unions
Economic rent,
Transfer earnings,
Transfer earnings
20
cards
t6 -nmw
What is a gig econonomy,
Features of a gig economy,
What is the aim of the minimum wage
10
cards
t6 - discrimination of the labour market
What is labour market discrimination,
When does wage discrimination occur,
What determines high wage
10
cards
T8 - MF V MF
Could market forces deal with the...,
What si the only way a publci goo...,
Why may mf be better on poverty
29
cards
T5 - Price Discrimination 2.0
What is price discrimination,
What is first degree price discir...,
What is second degree price discr...
46
cards
Exam top tipa
General structure for answering qs,
With policy qs what should we do,
Do we need to know everything and...
44
cards
macro top tip
What shoudl we always aim to link,
What to use as a tick list when a...,
What are the main obj of macro po...
28
cards
LDS
What lds ref number,
How many makes in lds,
What is propulsion type field
76
cards
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