BASIC INTRODUCTION TO MACROECONOMICS‚ TOOLS AND TERMINOLOGIES By- Rhit Srivastava MBA –PM(05) IIHMR Economics • Economics is the social science that studies economic activity to gain an understanding of the processes that govern the production‚ distribution and consumption of goods and services in an exchange economy Types of economics • Macro economics : Concentrate on large picture of economy. • Microeconomics: • Microeconomics deals with behavior of individual market and the business‚ consumer
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Introduction to Macroeconomics Chapter 1 Introduction to Macroeconomics 1.1 INTRODUCTION • • • • • • • Economics is divided into two main branches: microeconomics and macroeconomics. Macro means large‚ and micro means small. Microeconomics takes a close-up view of the economy by concentrating on the choices made by individual participants in the economy such as consumers‚ workers‚ business managers and investors. Microeconomics stresses on the role of prices in business and personal decisions
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periods of falling real incomes and rising unemployment Depressions: severe recessions (very rare) Short-run economic fluctuations are often called business cycles FACTS: 1. Economic fluctuations are irregular and unpredictable. 2. Most macroeconomic quantities fluctuate together. 3. As output falls‚ unemployment rises. The AD curve shows the quantity of all g&s demanded in the economy at any given price level. Y = C + I + G + NX When an increase happened to C‚I‚G‚(NX or EX) - the
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Principles of Macroeconomics Coursework Rodoula Makri ECON101-EN Question 1: a) Price of substitute good falls - As seen on the diagram above when price of substitute product A rise‚ then demand for substitute product B rises accordingly. Positive relationship between the two. Shift to the right. b) Taste shifts away from the good - Whe the taste shifts away from the good it becomes less desirable‚ making its demand for it decrease. Shift to the left. c) Price of complimentary good
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ECS2730 ASSIGNMENT Question one a) Different sources had varying figures in terms of acquiring the macroeconomic variables. b) The following graph show the GDP growth rate‚ GDP per capita growth rate and the inflation rate of Nigeria. From the graph it is not easy to see the changes (in terms of figures) in the variables therefore‚ the table below shows how the above variables have changed over time. Year Real GDP growth rate (annual %) GDP per capita growth (annual %) Inflation
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Studies Macroeconomic Considerations By Natasha Jones Business Studies Macroeconomic Considerations Study of the behaviour of the whole (aggregate) economies or economic systems Lawnswood [Type the company address] [Type the phone number] [Type the fax number] Study of the behaviour of the whole (aggregate) economies or economic systems Lawnswood [Type the company address] [Type the phone number] [Type the fax number] My Report: Macroeconomic Policies; Macroeconomic policies
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Christopher Ragan Leacock 321-C Economics 295B Introduction to Macroeconomic Policy Tuesdays and Thursdays‚ 4:00 pm – 5:30 pm‚ Leacock 132 ***** I. Housekeeping Details 1. Office Hours. My office hours are Tuesdays and Thursdays from 10:00 am - 11:00 am. If you are unable to see me then‚ please speak to me to arrange an appointment. 2. Required Textbook and MyEconLab. The textbook for this class is the macroeconomics half of Economics‚ by C. Ragan and R. Lipsey (13th Canadian Edition
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Fundamentals of Macroeconomics ECO/372 Macroeconomics October 23‚ 2012 Fundamentals of Macroeconomics The purpose of this paper is to describe the following terms: gross domestic product (GDP)‚ Real GDP‚ Nominal GDP‚ Unemployment rate‚ inflation rate‚ and interest rate. Then we have to describe how purchasing of groceries‚ massive layoff of employees‚ and decrease in taxes affects government‚ households‚ and businesses. Learning and understanding the terminology of economics and what really
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Fundamentals of Macroeconomics Fundamentals of Macroeconomics Throughout this paper I will provide an explanation of the following terms: Gross domestic product (GDP)‚ Real GDP‚ Nominal GDP‚ Unemployment rate‚ Inflation rate‚ and Interest rate. Within this paper I will consider purchasing of groceries‚ massive layoff of employees‚ and decrease in taxes as examples of economic activities. I will then describe how each of these activities affects government‚ households‚ and businesses as well
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Fundamentals of Macroeconomics In this essay I will describe the fundamentals of GDP‚ unemployment rate‚ inflation rate‚ and interest rate. Also I will be explaining how some common occurrences such as buying groceries‚ massive layoffs‚ and a decrease in taxes affect the government‚ businesses‚ and even you. Lets start with GDP. What is GDP you ask? GDP stands for Gross Domestic Product and represents the total market value‚ in dollars‚ of goods and services. There are 4 main components that
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