Topic – Syllabus

Introduction to Macro Aims (group work project)

2.1.1 Economic Growth & Measures (GDP, GNH, PPP, measures & evaluation)

2.4.1 & 2.4.2 Circular Flow of Income (injections and withdrawals)

2.5.3 Business/Trade Cycle

2.1.3 Unemployment & Employment

2.2.1 Aggregate Demand (characteristics)

2.2.2 Consumption

2.2.3 Investment

2.2.4 Government Spending

2.2.5 Net Exports

2.3.1 Aggregate Supply

2.3.2 SRAS (short-run AS)

2.3.3 LRAS (long-run AS)

2.4.3 Equilibrium Levels of AD & AS (link back to cyclical unemployment)

2.4.4 The Multiplier

2.5.1 Causes of Growth

2.5.2 Output Gaps

2.5.4 Impacts of Economic Growth

2.1.2 Inflation

2.3 Balance of Payments

2.6.1 Review of Macro Aims

2.6.2 Demand Side Policies – Fiscal Policy

2.6.2 Demand Side Policies – Types of Taxes

2.6.2 Demand Side Policies – Deficit and surplus

2.6.2 Demand Side Policies – Central Bank

2.6.2 Demand Side Policies – Monetary Policy

2.6.2 Demand Side Policies – Quantitative Easing

2.6.2 2.6.2 Demand Side Policies – Great Depression etc

2.6.2 Demand Side Policies – Evaluation

2.6.3 Supply Side Policies

2.6.4 Trade Offs (including Philips Curve)