University of Newcastle ECON1002: Macroeconomics for the Global Economy SEMESTER 2, 2012 Tutorial One (Week 2) Introduction to economics: methodology and challenges Readings: Jackson and McIver Ch. 1 (see Course Outline) Learning objectives for Tutorial One: • Understand why macroeconomic policy is so important • What are the assumptions and limitations of macroeconomic theory? • Common fallacies in macroeconomics. 1. # (Assignment question)
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Chapter 12 - Macroeconomic and Industry Analysis CHAPTER TWELVE MACROECONOMIC AND INDUSTRY ANALYSIS CHAPTER OVERVIEW This is the one of three chapters that covers fundamental security valuation. This chapter introduces a topdown approach to fundamental security analysis. It covers the first two components: macroeconomic and industry analysis. The textbook begins with a global analysis, particularly with respect to how the performance of domestic firms is influenced by international economic
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between business and citizens in one country to their counter parts in another. This section discusses exchange rates, exchange rate adjustments and systems, macroeconomic policy in an open economy, as well as international banking, including international currency reserves, debt, and risk. Learning Materials Open Economy Macroeconomics: Exchange Rates, Balance of Payments and Policy Exchange-Rate Systems With some notable exceptions, most countries in the world have their own currency. Consequently
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INTRODUCTORY MACROECONOMICS BDEK 2203 Name : Amielia Bte Mohd Hanif No. matrix : 840615055270001 Question 1 (a) Cost of living- Price of goods and services required for maintaining an average level standard of living. Cost of living varies from place to place, and from time to time. Standard of living-The financial health of a population, as measured by the quantity of consumption by the members of that population. The measure most frequently used to estimate standard of living is gross
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Preparation A full understanding of the budget planning and preparation system is essential, not just to derive expenditure projections but to be able to advise policymakers on the feasibility and desirability of specific budget proposals, from a macroeconomic or microeconomic perspective. It is much easier to control government expenditures at the "upstream" point of budget preparation than later during the execution of the budget. Thus, fiscal economists and general budget advisors need to know:
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1. Give two reasons why there may be a short-run tradeoff between unexpected inflation and the unemployment rate? Unexpected inflation reduces real wages W/P, so labor becomes cheaper (adaptive expectations). So with cheaper labor firms hire more workers to satisfy equilibrium condition of MRPL=W/P MRPL - Marginal revenue product of labor W/P - real wage W - nominal wage P - price level (change means inflation). Expected inflation is assumed making labor contract, which does not in general
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Fiscal Policy on Macroeconomic Policy Objectives Inflation External Current Account Growth Fiscal Adjustment to Ensure Sustainability Links to Other Policy InstrumentsHow Should the Fiscal Stance Be Assessed? Fiscal Impact of Alternative Methods of Deficit Financing Other Measures Used to Assess the Fiscal Stance The Sensitivity of a Fiscal Assessment to the Time Frame of Analysis Definition of Government Accounts for Macroeconomic Analysis Coverage
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half of the current fiscal year (January-June 2012) on January 26. Explicitly or implicitly, the objectives that the MPS seeks to accomplish are: * Curbing inflation to single digit level, * Limiting depletion of foreign exchange reserves and establishing external sector equilibrium, and * Supporting GDP growth of 6.5 - 7.0% in the current fiscal year (FY) The instrument to achieve these objectives is the containment of broad money growth; primarily by reducing the growth of credit components
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gross domestic production (GDP) growth coupled with strong growth in exports and remittance has led to a marked improvement in the fiscal and balance of payments position and substantial improvements in the economic fundamentals necessary for macroeconomic stability. However, the rise in the inflation rate and further evidence of income inequality have tempered growth's direct impact on the quality of life. Macro Economic indicators In the past decade, Bangladesh enjoyed a positive growth rate
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NP ltd | Policy Brief | Canadian Immigration Reform: Macroeconomic Impacts | | | 7/28/2014 | | Table of Contents 1.0 Executive summary 2.0 Distribution List 3.0 Introduction 4.1 History 4.2 Policy 4.3 Federal Skilled Worker Program 4.4 Temporary Foreign Worker Program 4.0 Policy Outcomes 5.5 Labour Supply 5.6 Keynesian Theory – Aggregate Supply and Demand 5.7 Demands for Goods and Service 5
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