SECTION 1 MANAGING THE ECONOMY Managing the economy GCSE ECONOMICS: UNIT 12 Supply-side policies.

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Presentation transcript:

SECTION 1 MANAGING THE ECONOMY Managing the economy GCSE ECONOMICS: UNIT 12 Supply-side policies

SECTION 1 MANAGING THE ECONOMY Starter: What do each of the three images represent? 1.What is meant by Fiscal Policy? 2.What is Monetary Policy? 3.Who decides on Monetary Policy?

SECTION 1 MANAGING THE ECONOMY Starter: What do you see!?

SECTION 1 MANAGING THE ECONOMY Starter: What do you see!?

SECTION 1 MANAGING THE ECONOMY Learning Objective Understand how Supply-side policies can be used to allow the UK economy to grow faster with fewer risks of inflation

SECTION 1 MANAGING THE ECONOMY Over to you… Using the notes and any other resources complete the document titled ‘Supply-side Policies’ It’s important that you understand how supply-side policies, in conjunction with monetary and fiscal policy, can be used to achieve the governments four main economic objectives

SECTION 1 MANAGING THE ECONOMY It’s time to reflect… Over the past few weeks of lessons we have looked in detail at Government Policies – Fiscal Policy – Monetary Policy – Supply-side policies Produce a mini-mind map illustrating the key points about each of the three government policies

SECTION 1 MANAGING THE ECONOMY Recap Questions… 1.What is meant by supply-side? 2.Give me one example of a supply-side policy and explain how it will influence the UK economy 3.How effective are supply-side policies?