Macroeconomics (from Greek prefix "macr(o)-" meaning "large" + "economics") is a branch of economics dealing with the performance, structure, behavior, and decision-making of the entire economy. This includes a national, regional, or global economy.[1][2] With microeconomics, macroeconomics is one of the two most general fields in economics. Macroeconomists study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. Macroeconomists
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economic mechanism. 2. CONSUMER BEHAVIOUR: Assumptions on preference ordering, indifference curve, budget constraint and consumer’s equilibrium, substitution effect (Hicks & Slutsky) and income effect, ordinary and compensated demand curves, inferior goods and Giffen goods, price consumption and income curves, derivation of labour supply and intertemporal choice, (saving and borrowing), Revealed Preference – the weak axiom and substitution effect. 3. DEMAND AND SUPPLY: Demand function
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Fundamentals of Macroeconomics JoRenie Armstrong ECO/372 March 23, 2015 Yohannes Mariam Fundamentals of Macroeconomics Fundamentals of Macroeconomics economic principles apply and affect the entire economic system that encompass the world. Macroeconomics directly impact every part of our government and every individual’s quality of life. The health of the nation’s economy affects our economy. A few areas that determine economic health are the gross domestic product (GDP), gross national product
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Fundamentals of Macroeconomics Pua Edayan ECO/372 October 26, 2012 William Akamine Fundamentals of Macroeconomics Gross domestic product is the market value of final goods and services produced in a given period within the United States. National accounts are related to the gross domestic product which is a subject in macroeconomics. It has three ways that results are the same. Product approach is the most direct and sums the outputs. This approach has market value of final
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The Economic Environment Facing Global Business KEY MACROECONOMIC INDICATORS • Economic Growth • Inflation • Surpluses & Deficit KEY MACROECONOMIC INDICATORS : ECONOMIC GROWTH • GDP and GNI (or GNP) – High or Low – total amount of goods and services produced in a year within the domestic territory) or GNI (GDP + net income) – Per capita GNI (total GNI divided by total population) – PPP GNI (unmber of units of a country’s currency required to buy the same goods and services in the domestic
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MacroEconomics Diagrams and Definitions What is macroeconomics? • Macroeconomics is the study of a national economy. Macroeconomic Goals Income Distribution Growth External Stability Employment Price Stability Two Sector Circular Flow of Income Monetary Flow Households Expenditure on Goods and Services (E) Real Flow Good and Services = Output (O) Factors of Production Wages, Rent and Profits (Y) E=O=Y Firms 4 Four Sector Circular Flow of Income
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During the last four decades an increasingly important role has been assigned to the study of macroeconomic adjustments in open economies. Partly, this reflects the fact that economies are being increasingly more interdependent and need to be coordinated at the international level. The openness of trade and the increasing mobility of capital internationally are primarily responsible for macroeconomic interdependence. In the early 1930s economists sought to apply price theory to explain the aggregate
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[pic] UNIVERSITI SAINS MALAYSIA School of Management BACHELOR OF MANAGEMENT Semester II, Academic Session 2012/2013 COURSE OUTLINE ATW108 – MACROECONOMICS ZAINON B HARUN Tel: ext. 2532 Room no. 122 h/p 019-577-2882 e-mail: zainon@usm.my DR TAJUL ARIFFIN MASRON Tel: ext 5158 Room no. 110 e-mail: taj.arif@yahoo.com OVERVIEW The ideas of economist
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| |Macroeconomics |BUS1035 |2 |32 | 1. Course Objectives To provide a basic understanding of economic reasoning, economic theory and economic policy, particularly for the study of the economy as a whole. Throughout the course, students will be introduced to: ● Define Gross National Product, Gross Domestic Product, Net National Product, National Income, Personal Income, and Disposable
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ECONOMICS 201: PRINCIPLES OF MACROECONOMICS Fall Term 2015 2:00-3:15 PM Mondays and Wednesdays Room 1090 CASL CRN # 11014 Section 004 Carol Hogan Office Hours: 10:00-10:45 AM 2190 Social Sciences Building Mondays and Wednesdays, 1:00- 313-436-9181 1:45 PM Mondays and Wednesdays, clhogan@umich.edu 5:00-5:45 PM Mondays, and by appointment |ECON 201 - Prin: Macroeconomics
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