Macroeconomic objectives
Macroeconomic objectives
Explain the Government’s various macroeconomic objectives and their importance to UK economy. Is it possible for government to achieve all these objectives at the same time?
1. Define macro economics (Compare with micro)
2. Macroeconomic objectives:Assessing importance List :(discuss individual) 1),Economic Growth Advantages and disadvantages (and why) (PPF) full use of resource AD=C+I+G+X-M 2), Low inflation(Price stability) Costs(Types of inflation) 3), Balance of payments Equilibrium/ surplus(exchange rate stability) 4), Low unemployment Costs(causes of unemployment) 5), Redistribution of income &wealth (Economic social + political) ( Equity &fairness) 6), Regional policy 7), Productivity (Efficiency) Research & development( innovation new technology processes) Training
3. “ conflict ” Achieving objectives (to do one objectives other will difficult)
4. Conclusion Referencing (UK economy) figifacts
EXAM: 1,Section: 20 multiple choice questions B Short answer questions
4 aggregate demand-- concept AD= C+I+G+X-M Inflation-- causes Unemployment -- types Globalization -- advantages
C 2 ESSAYS
1)Unemployment
2)Economic Growth
3)Inflation
4) Globalization international trade
Notes: Make
AD= C+I+G+X-M Firms More
AD=AS Efficient At full employment level All
Explain the Government’s various macroeconomic objectives and their importance to UK economy. Is it possible for government to achieve all these objectives at the same time?
1. Define macro economics (Compare with micro)
2. Macroeconomic objectives:Assessing importance List :(discuss individual) 1),Economic Growth Advantages and disadvantages (and why) (PPF) full use of resource AD=C+I+G+X-M 2), Low inflation(Price stability) Costs(Types of inflation) 3), Balance of payments Equilibrium/ surplus(exchange rate stability) 4), Low unemployment Costs(causes of unemployment) 5), Redistribution of income &wealth (Economic social + political) ( Equity &fairness) 6), Regional policy 7), Productivity (Efficiency) Research & development( innovation new technology processes) Training
3. “ conflict ” Achieving objectives (to do one objectives other will difficult)
4. Conclusion Referencing (UK economy) figifacts
EXAM: 1,Section: 20 multiple choice questions B Short answer questions
4 aggregate demand-- concept AD= C+I+G+X-M Inflation-- causes Unemployment -- types Globalization -- advantages
C 2 ESSAYS
1)Unemployment
2)Economic Growth
3)Inflation
4) Globalization international trade
Notes: Make
AD= C+I+G+X-M Firms More
AD=AS Efficient At full employment level All