This class was created by Brainscape user Dimitrios Leftakis. Visit their profile to learn more about the creator.
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Decks in this class (85)
macro objectives
What are the main macroeconomic i...,
Non core macroeconomic objectives
2
cards
circular flow of income
Describe circular flow of income,
Injections and withdrawals,
Economic growth with withdrawals ...
4
cards
index numbers
Why use index numbers,
How to use index numbers,
How to calculate index numbers
3
cards
Aggregate demand shifts and the downward slope
What is aggregate demand,
Equation for aggregate demand,
Movements along the ad curve
4
cards
consumer spending + AD
What is consumption,
Mpc,
Determinant ants of consumption
3
cards
savings + AD
What is saving,
Marginal propensity to save,
Determinate of savings
3
cards
investment + AD
Investment,
Determinants of investment,
The accelerator effect
3
cards
government spending and AD
What is government spending and w...,
Different types of government spe...,
Surplus vs deficit gov
4
cards
net exports + AD
Determinants of net exports
1
cards
aggregate supply
What is aggregate supply,
Short run determinants,
What is meant by yfe
5
cards
macro equilibrium + shifts
Short run equilibrium,
Long run equilibrium,
Shifts in ad using exam technique
4
cards
output gaps
What is a negative output gap and...,
Negative output gap classical an ...,
Positive output gap what is it ca...
5
cards
measures of Econ growth
Why is measure of national income...,
Measure of gdp,
Measures of gdp capita
5
cards
causes of economic growth
What is economic growth,
Short run growth diagrams,
Causes of short run growth
5
cards
the economic cycle
Graph of business cycle economic ...,
Definition of a recession,
Different characteristics in econ...
4
cards
costs and benefits of growth
Benefits of growth,
Costs of economic growth,
Evaluation of economic growth
3
cards
how is unemployment measured
What is unemployment who,
Labour force surveywhat is it who...,
Claimant count what and issues
4
cards
types/causes of unemployment
Two major groups of unemployment,
Cyclical unemployment and how,
Real wage unemployment and how
6
cards
natural rate of unemployment
What is the natural rate of unemp...,
Graph showing natural rate of une...,
Structural unemployment
7
cards
costs and benefits of employment
Costs of unemployment,
Benefits of consumption,
Evaluation of unemployment benefi...
3
cards
CPI inflation measure- constructing and calculating
Inflation,
Different types of inflation,
Cpi how to use what it is
4
cards
causes of inflation- demand-pull, cost push
Difference between demand and cos...,
Causes of demand pull,
Causes of cost push inflation
3
cards
costs and benefits of inflation
Costs of inflation,
Benefits of inflation,
Evaluation of inflation
3
cards
deflation- causes and consequences
Deflation,
Different types of deflation,
Demand side deflation
5
cards
government spending and taxation
Types of government spending,
Reasons for gov spending,
Types of taxation
4
cards
different types of taxation systems
Different types,
Different types of tax,
Taxable income equation income ta...
3
cards
fiscal policy
What is fiscal policy and what it...,
Different types of fiscal policy ...,
Expansionary fiscal policy exampl...
5
cards
automatic stabilisers of fiscal policy
Automatic stabilisers,
Automatic stabilisers in boom and...,
Multiplier effect
3
cards
rising budget deficits and national debt
Budget deficit and different types,
Pros of budget deficit,
Cons of budget deficit
4
cards
deficit and debt reduction (contractionary)
Budget surplus and types,
Benefits of budget surplus,
Cons of budget surplus
4
cards
monetary policy
What is monetary policy and diffe...,
Expansionary monetary policy vs c...,
Expansionary monetary policy tran...
6
cards
supply side policies
What are supply side policies,
Interventionist supply side policies,
Market based supply side policies
4
cards
policies to increase growth and living standards
Policy to increase short run growth,
Policies to increase long run growth
2
cards
policies to reduce unemployment
Policy to reduce cyclical unemplo...,
Policy to reduce real wage unempl...,
Policy to reduce structural unemp...
4
cards
policies to reduce inflation
Policy to reduce demand pull infl...,
Policies to reduce cost push infl...,
Policies to reduce high long term...
3
cards
policies to rectify current account deficit
Different policies to reduce curr...
1
cards
globalisation
What is globalisation and causes,
Pros of globalisation,
Cons of globalisation
3
cards
floating exchange rate determination
What is the exchange rate,
Floating exchange rate graph
2
cards
floating change rate appreciations and depreciations
Appreciation due to demand why,
Depreciation of exchange rate due...
2
cards
how are fixed exchange rates managed
What is needed for a fixed exchan...,
What does governemnt do if there ...,
What does governemnt do if there ...
4
cards
impacts of exchange rate appreciation and depreciation
Appreciation monogram,
Appreciation graphs,
Analysis of appreciation
4
cards
should governments intervene in exchange rate markets
Why governments intervene,
How do governments intervene in e...
2
cards
Purchasing power parity and exchange rates
What does ppp reflect,
Problems with nominal exchange ra...,
How does ppp work floating
4
cards
floating exchange rate and automatic correction of CA deficit
Link between ca and floating exch...
1
cards
fixed vs floating exchange rates
Benefits of floating exchange rates,
Negatives of floating exchange rate,
Benefits of fixed exchange rates
4
cards
marshall-lerner and j-curve effect
What are the marshall lerner cond...,
What does,
Ped and total revenue
5
cards
economic integration and trading blocs
What is economic integration,
Trading bloc,
Bilateral multilateral trade agre...
4
cards
features of the EU
Features of the eu
1
cards
pros and cons of eu membership
Benefits of eu,
Cons of eu
2
cards
trade creation
What is trade creation,
Trade creation diagram,
Benefits of trade creation
3
cards
trade diversion
What is trade diversion,
Diagram of trade diversion,
Consequences of trade diversion
3
cards
classic as/ad model long and short run
Classical as ad model assumptions...
1
cards
Econ cycle features and causes
Phase of boom,
Phase of rescession,
Phase of recovery
4
cards
Phillips curve
Graph of short run phillips curve,
What does phillips curve tell us ...,
Stagflation and phillips curve
4
cards
costs and benefits of Econ growth
Benefits of econ growth,
Costs of economic growth
2
cards
costs and benefits of unemployment
Costs of unemployment,
Benefits of unemployment,
Evaluation of unemployment
3
cards
costs and benefits of inflation
Costs of inflation,
Benefits of inflation,
Evaluation of inflation
3
cards
fiscal policy pt.2
Government bond what how and why,
What is on a gov bond,
Nominal value of bond
4
cards
crowding out effect
Crowding out effect,
Crowding out effect graph
2
cards
money and the money supply
Functions of money,
Characteristics,
Types of money
5
cards
quanitity theory of money
Fisher equation
1
cards
the money market
How does monetary policy work res...,
Money market graph
2
cards
monetary policy transmission mechanism
Transmission mechanism
1
cards
quantitative easing
What is qe,
How qe works
2
cards
poverty
What is poverty and type,
Equity vs equality and diff types...,
Causes of poverty
3
cards
distribution of income
Income vs wealth,
Reasons for income and wealth dif...
2
cards
Lorenz curve and ginin coefficient
Lorenz curve and gini coefficient,
Lorenz curve graph,
Gini coefficeint calc and meaning
3
cards
policy to reduce income and wealth with eval
Policies for i wealth,
Evaluation of policies for i wealth
2
cards
laffer curve
Laffer curve idea and graph
1
cards
balance of payments
What is the balance of payments,
Current account,
Financial account
4
cards
current account deficit consequences
Consequences
1
cards
expenditure reducing and switching policies
Expenditure reducing policy,
Expenditure,
Supply side policies for current ...
4
cards
current account surplus
Demand side and supply side cause...,
Consequences of current account s...
2
cards
law of comparative advantage
What is comparative advantage and...,
Equation,
How to check comp advantage on graph
4
cards
comparative advantage consuming beyond the PPF
Rate of exchange,
Point about ppfs and comparative ...
2
cards
criticisms of comparative advantage
Limitations of comparative advantage
1
cards
benefits of free trade
Benefits of free trade,
Effect on graph
2
cards
reasons for protectionism
Reasons for protectionism
1
cards
tariff
What is a tariff,
Graph of tariff
2
cards
trade tarriff, analysis
Analysis of tarriff on graph quan...
1
cards
evaluation of protectionism
Disadvantages of tariffs brief eval
1
cards
import quota
Import quota,
Effect on graph
2
cards
import quota analysis
Analysis of quota
1
cards
trade subsidy
What is a trade subsidy,
Effect of trade subsidy on graph
2
cards
trade sub analysis
Trade subsidy analysis
1
cards
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macroeconomics
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