This class was created by Brainscape user Aaron Mensah. Visit their profile to learn more about the creator.
By:
Aaron Mensah
- decks
- flashcards
- learners
Decks in this class (78)
Key terms
Indicators and objectives 1,
Living standards standard of livi...,
Living costs cost of living 3
18
cards
Key terms pt2
Productivity 1,
Inflation 2,
Cpi 3
16
cards
Key terms pt3
Leakages 1,
Injections 2,
National income multiplier effect 3
17
cards
Key terms pt4
Lras 1,
Usual causes of lras shifts 2,
Output gaps 3
10
cards
Indicators and objectives
Economic growth 1,
How is economic growth measured 2,
Unemployment rate 3
11
cards
Indicators and objectives pt2
Indication inflation 1,
Deflation 2,
Cpi 3
15
cards
Index Numbers
Index numbers 1,
Base year 2,
Percentage change in index numbers 3
5
cards
Circular flow of income
National income accounts 1,
3 ways of calculating gdp 2,
Output 3
12
cards
Circular flow of income pt 2
Imports m 1,
Exports x 2,
Social transfers 3
11
cards
Determinants of aggregate Demand
Aggregate demand 1,
Aggregate demand formula 2,
Consumption c 3
13
cards
The aggregate demand curve
What is the ad curve 1,
How does ad curve 2,
Price level 3
7
cards
SRAS
Aggregate supply 1,
Short vs long run 2,
Short run 3
12
cards
LRAS
Lras 1,
The lras graph 2,
Axis 3
9
cards
AD-AS Model
Assumptions 1,
Macroeconomic equilibrium 2,
Changes 3
7
cards
Chain of reasoning
Aggregate demand events 1,
Sras events 2,
Lras events 3
10
cards
Economic growth
Economic growth 1,
Gdp 2,
Measures of gdp 3
10
cards
Economic growth pt2
Rate of economic growth 1,
Formula of rate of economic growth 2,
Trend rate of economic growth 3
11
cards
The economic cycle
The economic cycle 1,
Trend growth rate 2,
Output gaps 3
7
cards
The economic cycle pt2
Phase 1 recovery 1,
Phase 2 boom 2,
Phase 3 recession 3
7
cards
Unemployment
Total population 1,
Labour force 2,
Economically inactive 3
15
cards
Unemployment pt2
Why does the government care who ...,
Labour and demand 2,
Types of unemployment 3
10
cards
Unemployment pt 3
Cyclical unemployment 1,
Seasonal unemployment 2,
Frictional unemployment 3
9
cards
Inflation
Inflation 1,
How is inflation measured 2,
Rpi 3
10
cards
Inflation pt2
Closer look at deflation 1,
Benefits of deflation 2,
Issues with deflation 3
6
cards
Balance of payments
Balance of payments 1,
Balance of payments accounts 2,
Current account 3
8
cards
Current account
Current acount 1,
Trade in goods 2,
Trade in services 3
8
cards
Current account pt 2
Exports to economic growth chain ...,
Imports to inflation rate chain o...,
Link between low aggregate demand...
9
cards
Possible conflicts between objectives
Why are there possible conflicts ...,
How to graphically show conflicts...,
Economic growth vs inflation 3
6
cards
Monetary policy
Exchange rates 1,
Exchange rates notes 2,
Strong pound appreciated 3
8
cards
Monetary policy pt2
Interest rates 1,
Monetary policy notes 2,
Contractionary monetary policy ch...
5
cards
Fiscal policy
What is fiscal policy 1,
Fiscal policy notes 2,
Government spending 3
8
cards
Fiscal policy pt2
Types of taxes 1,
Direct taxes 2,
Indirect taxes 3
8
cards
Supply side policies
Supply side policies 1,
Aim 2,
Supply side policy notes 3
11
cards
Links within the chain of reasoning
Link between ad and pl 1,
Link between ad and rno 2,
Link between cop and sras 3
6
cards
Multiple choice question corrections
A fall in the exchange rate 1,
A rise in the exchange rate 2,
Multiplier formula 3
8
cards
Multiple choice questions corrections pt2
Injections 1,
Leakages 2,
Increase in aggregate demand diag...
12
cards
Corrections
Interest rates 1,
Why are there decreased loans 2,
What policies can the government ...
11
cards
Decision making and Utility theory
Rational behaviour 1,
Market demand and individual dema...,
Utility 3
8
cards
Decision making and Utility theory pt2
The margin and optimisation 1,
Mu p 2,
Mu
7
cards
Uses of national income data and Living standards
What is used to measure the level...,
Ppp 2,
Ppp example 3
10
cards
Uses of national income data and living standards pt 2
Big mac index 1,
Disposable income 2,
Limitations of data on income per...
10
cards
Human development index
Human development index 1,
3 dimensions of human development...,
Health 3
7
cards
Keynesian curve
What is the keynesian theory 1,
Expansionary fiscal policy 2,
3 parts of the keynesian curve 3
9
cards
Economic cycles
Boom 1,
Slowdown 2,
Recession 3
11
cards
Economic cycle pt2
What causes an economic recovery 1,
Demand side shocks 2,
Supply side shocks 3
5
cards
Macroeconomic equilibrium
Macroeconomic equilibrium 1,
An increase in ad 2,
A decrease in ad 3
8
cards
Economic growth
Benefits of sustained economic gr...,
Costs of sustained economic growth 2,
Benefits of sustained economic gr...
10
cards
Circular economy
Sustainable growth 1,
Policies to promote sustainable g...,
Key principles of the circular ec...
8
cards
Inflation
Demand theories of inflation 1,
The quantity theory of money 2,
Qtm summary 3
12
cards
Inflation pt2
Long run phillips curve 1,
Long run phillips curve descripti...,
Factors affecting long run philli...
7
cards
Unemployment
Full unemployment 1,
The real wage theory of unemploym...,
Free market vs reality 3
7
cards
The Phillips curve
What is the phillips curve 1,
High unemployment 2,
A fall in unemployment 3
10
cards
Phillips curve pt 2
Non accelerating inflation rate o...,
Factors affecting nairu 2,
Stagflation 3
5
cards
Financial markets and Financial assets
Functions of money 1,
Money as a medium of exchange 2,
Money of a store of wealth 3
12
cards
Financial markets and Financial assets pt2
Narrow money 1,
Broad money 2,
Liquidity 3
10
cards
Financial markets and Financial assets pt3
Money markets 1,
Foreign exchange markets 2,
Capital markets 3
7
cards
Perfect competition
Key assumptions and characteristi...,
Price and output in perfect compe...,
Adjustment to the long rum 3
7
cards
Imperfect competition
Imperfect competition suppliers 1,
Imperfect competition consumers 2,
Imperfect competition barriers to...
5
cards
Investment and commercial banks
Gilts 1,
Shares vs bonds 2,
Advantages of a portfolio 3
10
cards
Investment and commercial banks pt2
Moral hazard 1,
Systematic risk 2,
The balance sheet of a retail bank 3
12
cards
Regulation and Monetary Policy
Bank of england functions 1,
Quantitative easing 2,
How does qe stimulate economic gr...
13
cards
Regulation and Monetary Policy pt2
Liquidity ratio 1,
Capital ratio 2,
Lending long and borrowing short 3
9
cards
Trade and trade barriers
Absolute advantage 1,
Comparative advantage 2,
Import controls 3
9
cards
Trade and trade barriers pt2
Infant industries 1,
Sunset industries 2,
Strategic trade theory 3
9
cards
Trade and trade barriers pt3
Patterns of trade 1,
Patterns of trade conclusion 2,
New patterns of trade emerging 3
10
cards
Non tariff trade barriers
Trading relationships overview 1,
Brexit dilemma 2,
Economic autonomy 3
7
cards
Impact of import quotas
Domestic output gdp 1,
Domestic demand 2,
Import volumes 3
8
cards
Subsidies impact on stakeholders
Domestic producers analysis 1,
Domestic producers evaluation 2,
Consumer analysis 3
6
cards
Balance of payments
Balance of payments 1,
Deficit and surplus 2,
The current account 3
12
cards
Balance of payments pt2
Long term direct capital flows 1,
Portfolio capital flows 2,
Short term hot money capital flows 3
11
cards
Balance of payments pt3
Devaluation in a free floating cu...,
Policy conflict side effects 2,
The j curve 3
8
cards
Exchange rate
Marshall lerner condition 1,
Exchange rate 2,
Real exchange rates 3
11
cards
Exchange rates pt2
Free floating exchange rates disa...,
Free floating exchange rates disa...,
Free floating exchange rates disa...
9
cards
Exchange rates pt3
Fixed exchange rate advantages 1,
Fixed exchange rate disadvantages...,
Fixed exchange rate disadvantages...
6
cards
Trade unions
Key roles for trade unions 1,
Collective bargaining agreements 2,
Worker representation 3
5
cards
Globalisation
Globalisation 1,
Key characteristics of globalisat...,
Key factors driving globalisation 3
10
cards
Globalisation pt2
De globalisation 1,
What can cause de globalisation 2,
Examples of external shocks in th...
3
cards
Economics of state ownership
Nationalisation 1,
State owned industry 2,
Nationalisation advantages 3
7
cards
More about
Macroeconomics
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Aaron Mensah's Macroeconomics flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
Macroeconomics
- 26 decks
- 1537 flashcards
- 686 learners
Decks:
Chapter 1, Chapter 2, Chapter 7, And more!
Economics - Macro
- 27 decks
- 1016 flashcards
- 75 learners
Decks:
Balance Of Payments, 2 5 3 Macroeconomic Objectives And Polic, 2 5 2 Macroeconomic Objectives And Polic, And more!
Macroeconomics
- 45 decks
- 766 flashcards
- 51 learners
Decks:
Economic Growth, Inflation, Employment And Unemployment, And more!
