Overview of Macroeconomics

Slides:

Advertisements

Similar presentations

Introduction to Macroeconomic Concepts

Advertisements

Some key issues in macroeconomics

MACROECONOMICS What is the purpose of macroeconomics? to explain how the economy as a whole works to understand why macro variables behave in the way they.

Introduction: Economic Issues Introduction: Economic Issues.

9 The Economy and Business Activity 9 The Economy and Business Activity.

Money is the measure On the other hand… Macroeconomics is the study of how the economy operates as a whole – more than simply the sum of all markets.

Measuring GDP and Economic Growth Chapter 1 Instructor: MELTEM INCE

Unit 2 : Macroeconomics National Council on Economic Education Macroeconomic Questions Why does output fluctuate? What determines.

Macroeconomics: Economic growth and fluctuations Chapter 1.

ECON 1211 Lecturer: Dr B. Nowbutsing Topic 1: Introduction to Macroeconomics and National Income Accounting.

Macro Objectives Talk’n’ Economics –Vocabulary: GDP, Inflation, Debt, Supply, Demand…and much, much more Economic Facts –Descriptions of the US and world.

Macroeconomics Introduction Frederick University 2014.

Macroeconomics An Introduction. Microeconomics and Macroeconomics Microeconomics: Study of the behavior of economic units such and households and firms.

LOGO. Microeconomics is the study of how households and firms make decisions and how these decision makers interact in the broader marketplace. In microeconomics,

Mr. Sloan Riverside Brookfield High school.  2 Hours and 10 Minutes Long  Section 1-Multiple Choice ◦ 70 Minutes Long ◦ Worth 2/3 of the Score  Section.

Introduction to Macroeconomics

Introduction: Economic Issues Introduction: Economic Issues.

Unit 2 Macroeconomics The ‘Big’ Picture. What is it? Macroeconomics considers the economy as a whole – this is the total amount of different goods and.

© The McGraw-Hill Companies, 2002 Week 8 Introduction to macroeconomics.

The Macroeconomic Environment By the end of this class you should be able to: 1)Define macroeconomics 2)Explain the flow of income in an economy 3)Recognise.

Begin $100 $200 $300 $400 $500 AD/ADGraphsEmployment Key terms Key termsEconomicsGDP.

Introduction: Economic Issues Introduction: Economic Issues.

Economic Issues. Economics What is Economics? Macroeconomics vs. Microeconomics Demand and Supply.

Economic Ups & Downs Activity Test Review. What is real gross domestic product? O Total market value of all final goods and services produced within the.

External Influences The Macro-Economy. External Influences – The Macro- Economy The Macro-economy:  The production and exchange process of the whole.

IB Macroeconomics EQ: What is the macroeconomic environment and how can we measure it?

RECAP LAST CLASS. ECONOMIC ENVIRONMENT FOR BUSINESS Maximisation of Shareholders wealth ID FD DD NEW PROJECTS RAISING CAPITAL PAY OR INVEST ACQUISITION.

CHAPTER 5 Introduction to Macroeconomics © 2009 Pearson Education, Inc. Publishing as Prentice Hall Principles of Macroeconomics 9e by Case, Fair and Oster.

Macroeconomics is ... the study of the economy as a whole

Chapter 30: Macroeconomic objectives. Review; What is Microeconomics? Brainstorm; Looks at individual parts of the economy Looks at how individuals, households.

Economic Issues. Economics What is Economics? Macroeconomics vs. Microeconomics Demand and Supply.

© The McGraw-Hill Companies, 2008 Chapter 19 Introduction to macroeconomics David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 9th Edition,

Econ 202 Fall 2015 Introduction to Macroeconomics.

Economists are interested in 4 main questions… 1.Economic growth Has our economy grown in the last year, and is our capacity to product goods and services.

Macro-Economics The Big Picture. Macroeconomics is the study of the large economy as a whole. It is the study of the big picture. Macroeconomics is the.

Macroeconomic Theory Prof. M. El-Sakka CBA. Kuwait University Macroeconomic Theory Introduction.

The Meaning of Macroeconomic Performance By the end of this session, you:By the end of this session, you: –Must know definitions for AD and AS. –Must know.

Unit 2 Glossary. Macroeconomics The study of issues that effect economies as a whole.

Introduction: Economic Issues. The Economic Problem Economic problems –production and consumption –Scarcity: the central economic problem Macroeconomic.

AS Economics PowerPoint Briefings Introduction to Macroeconomics AS Economics.

IB Economics SL Syllabus Content Review Section 3: Macroeconomics.

WELCOME TO MACROECONOMICS! Unit 2.1: The Level of Overall Economic Activity Section 1: The Circular Flow Model.

Contents of Course u Module 1.fundamental concepts in Macroeconomics u Module 2.Measuring Economic Activity u Module 3.Consumption, Savings and Investment.

Introduction to Macroeconomics

Introduction to Economics

Unit 1: Introduction to Macroeconomics

Macroeconomics Issues and Measurement Chapter 15

Dr.P.Saradhamani , DoMS, EAB-I Unit

Microeconomics VS Macroeconomics

Introduction to Macroeconomics

Macro – Economic Indicators

Business Economics (ECO 341) Fall: 2012 Semester

ECON International Economics

Topic: Macroeconomics

Introduction to Macroeconomics

Professor Lowenberg Office: JH 4238 Phone: anton

Introduction to Macroeconomics

វិទ្យាស្ថានខ្មែរជំនាន់ថ្មី Institute of New Khmer

International Economics How Does the Open Macro-economy Work?

Economics of International Finance Econ. 315

Macroeconomics Intro to GDP.

Introduction to Macroeconomics

Macroeconomic Questions

CHAPTER 1 INTRODUCTION TO MACROECONOMIC

Introduction: Economic Issues.

Aggregate demand and aggregate supply

Macroeconomic policy objectives

Introduction to Macroeconomics

The Circular Flow of Income

Presentation transcript:

Overview of Macroeconomics IB Economics

Micro vs. Macro Microeconomics Macroeconomics Study of MICRO issues P Microeconomics Study of MICRO issues Behavior of Firms and households Particular Market Large industry (e.g. Steel) Resource Market Q Macroeconomics Study of WHOLE economy Output of all industries Total employment of whole country Economic growth

Macroeconomic Policy Objectives Economic Growth Overall increase in Goods & Services-improving Standard of Living Economic Development Standard of Living of almost all of population improve Full Employment Price Stability External Equilibrium Balance of payments (Trade)

Government Focus for Macro Issues Short-term Domestic issues: Unemployment & inflation External Issues: Balance of Payments and exchange rates Long-term issues: Economic growth and development

Defining GDP Final market value of all goods and services produced within a country, within a given year. 3 Ways to measure GDP: Value added Circular flow of income Expenditure or output IB more focused here

Macroeconomic Economy Income Approach – Circular Flow Resource Markets Government Firms (a.k.a. Businesses) Households Product Markets