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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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
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Advance Macroeconomics 1. Why the rich become richer and poor become poorer? It is because of the rising in inequality. He rich have got richer‚ and the poor have become relatively poorer. It is not that the real incomes of the lowest paid have fallen (though in some cases real incomes have been stagnant) but‚ they have fallen behind higher income earners. The gap between the highest paid and lowest paid has increased. In the past couple of decades it feels like the ‘rich have got richer
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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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budget deficit. The service sector has also come to play a significant economic role. *Source: Wikipedia Switzerland in brief * Switzerland’s Real GDP *Source: World Bank Swiss | Year 2004 | Year 2005 | Year2006 | Year 2007 | Year 2008 | Year 2009 | Year 2010 | Real GDP in US$ (based on 1990 price) | 362‚990‚618‚832 | 372‚475‚755‚390 | 391‚233‚703‚828 | 434‚116‚631‚637 | 503‚215‚464‚683 | 492‚261‚743‚767 | 527
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Economics 101 Macroeconomics Country Paper Kazakhstan Table of Contents: I. Introduction A. The Republic of Kazakhstan: Kazakhstan’s Macroeconomics..................3 1) Geographical Location ………………………………………………...3 2) Land Size ………………………………………………………………...3 3) Currency………………………………………………………………....3 4) Population………………………………………………………………..3 5) Major Products ……………………………………………………...... 3-4 II. Discussion of the Macroeconomics Indicators A. Real GDP for the
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A Macroeconomic Comparison of the United States of America and Germany (2002-2012) Thomas Edison State College GDP & GDP Growth Rate - USA: GDP is an important measure of the health and wellness of an economy. GDP in short is‚ the total expenditure of an economy through its consumption‚ investment‚ government purchases and net exports. According to data release by the world bank‚ the United States has the largest national GDP on the planet
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