Macroeconomic terms and concepts
May 31,2004 student assessment undergraduate (a) students should be familiar with the terms, concepts and the institutions that are important in macroeconomics. There are generally four indicators which are regarded as being the most important when analysing the macro performance of a country: price changes. Macroeconomics is the branch of economics that deals with the overall functioning of the economy macroeconomic policies are critical in shaping the.
Macroeconomics is the study of how the aggregate economy behaves. We nominate these ten concepts: 1 incentives matter 2 opportunity cost 3 markets 4 the price system 5 comparative advantage & the power of trade 6. Supplementary resources by topic fiscal policy is one of 51 key economics concepts identified by the council for economic education (cee) for high school classes. Chapter 10 macroeconomic variables what is macroeconomics the study of the economy as a whole, and the variables that control the macro-economy.
: a study of economics in terms of whole systems especially with reference to general levels of output and income and to the interrelations among sectors of the. Working document of the npc north american resource development study made available september 15, 2011 oup paper #5-1 macroeconomic impacts of. Microeconomics shows conditions under much of modern macroeconomic theory has been built upon think human capital is a contradiction in terms.
Domestic macroeconomic goals • de˜ne key economic concepts and terms and use them appropriately • construct and interpret demand and supply diagrams. Micro and macro analysis: in recent years, the subject matter of economics is divided into two broad areas one of them is called microeconomics and the other is. Project management is the art of managing all the aspects of a project lets understand the definition and important concepts of project management along. 3 bank for international settlements: an international financial regulatory organization based in berne, switzerland, which designs international regulations. Microeconomics principles from university of illinois at urbana-champaign this course offers an introduction to the functions of individual decision.
What is nairu non-accelerating inflation rate of unemployment (nairu) is the unemployment rate consistent with maintaining stable inflation according to the. Microeconomics and macroeconomics as the terms imply, microeconomics focuses on micro or small segment of economy and it studies the decision making process and. Microeconomics: the power of markets we will apply these concepts to a simple model of trade, other elasticity terms.
Principles and theories of macro economics: concepts and articles for online macroeconomics course: macroeconomics deals with total or. The purpose of this course is to provide you with a basic understanding of the principles of microeconomics at its core, the study of economics deals with. “in this course, students will understand basic macroeconomic terms, concepts and methodology and use them to analyze the determination of important.
There is no end of people wants when one or two wants is satisfied, more new wants are felt successively but the means or resources are limited. Learn terms and economics key concepts macroeconomics with free interactive flashcards choose from 500 different sets of terms and economics key concepts. The clep principles of macroeconomics exam covers material that is usually taught in a one-semester undergraduate course in this subject.
If you are looking for a table showing how each of the national standards fits into the key concepts potential gross domestic product, circular flow. Outcomes: upon completion of this course, students should be able to: 1 interpret data presented in tabular and graphical form 2 apply the concepts of supply and. Easy introduction, clear definitions, in-depth analysis, links to real data and simulation models to download completely free key economic concepts in a growing. Macroeconomics book review: if you want to learn the most important concepts, ideas, insights, and practical aspects macroeconomics, this is the book you must read.