This document is a comprehensive set of notes designed for students enrolled in Macroeconomics 101. It covers essential topics such as Gross Domestic Product (GDP), Inflation, Unemployment, Fiscal and Monetary Policy, International Trade, Economic Growth, and Business Cycles. Each section provides ...
ECS2602 ASSIGNMENT 1 SEMESTER 2 2024 This question is based on the following data for country PORTHOS for 2020. Marginal propensity to consume = 0.5 Autonomous consumption = R600 million Investm...
ECS2602 EXAM PACK 2024
ECS2603 EXAM PACK 2024
Todos para este libro de texto (5)
Escuela, estudio y materia
Macroeconomics 101
Macroeconomics 101
Vendedor
Seguir
zineddinedouadi
Vista previa del contenido
# Macroeconomics 101 Comprehensive Notes
## Table of Contents
1. Introduction to Macroeconomics
2. Gross Domestic Product (GDP)
3. Inflation
4. Unemployment
5. Fiscal Policy
6. Monetary Policy
7. International Trade
8. Economic Growth
9. Business Cycles
10. Conclusion
## 1. Introduction to Macroeconomics
- **Definition:** Macroeconomics studies the behavior of the overall economy,
focusing on aggregate changes.
- **Key Questions:**
- What causes economic growth?
- How do inflation and unemployment interact?
## 2. Gross Domestic Product (GDP)
- **Definition:** GDP is the total value of all goods and services produced within
a country in a specific time period.
- **Components of GDP:**
- **Consumption (C):** Expenditures by households.
- **Investment (I):** Business spending on capital goods.
- **Government Spending (G):** Expenditures by the government.
- **Net Exports (NX):** Exports minus imports.
- **Real vs. Nominal GDP:** Real GDP is adjusted for inflation, while nominal GDP
is not.
## 3. Inflation
- **Definition:** Inflation is the rate at which the general level of prices for
goods and services rises.
- **Causes of Inflation:**
- Demand-pull inflation
- Cost-push inflation
- **Measurement:**
- **Consumer Price Index (CPI):** Measures the average change in prices over time
for a basket of goods and services.
- **Producer Price Index (PPI):** Measures the average change in selling prices
received by domestic producers.
## 4. Unemployment
- **Definition:** Unemployment occurs when individuals who are capable of working
are unable to find a job.
- **Types of Unemployment:**
- **Frictional:** Short-term unemployment during transitions.
- **Structural:** Mismatch between skills and job requirements.
- **Cyclical:** Resulting from economic downturns.
- **Natural Rate of Unemployment:** The long-term rate of unemployment determined
by structural forces in the labor market.
## 5. Fiscal Policy
- **Definition:** Fiscal policy involves government spending and taxation decisions
to influence the economy.
- **Tools of Fiscal Policy:**
Los beneficios de comprar resúmenes en Stuvia estan en línea:
Garantiza la calidad de los comentarios
Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!
Compra fácil y rápido
Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.
Enfócate en lo más importante
Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable.
Así llegas a la conclusión rapidamente!
Preguntas frecuentes
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
100% de satisfacción garantizada: ¿Cómo funciona?
Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller zineddinedouadi. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for 7,56 €. You're not tied to anything after your purchase.
