This class was created by Brainscape user Dimitrios Leftakis. Visit their profile to learn more about the creator.

Decks in this class (114)

macro objectives
What are the main macroeconomic i...,
Non core macroeconomic objectives
2  cards
circular flow of income
Describe circular flow of income,
Injections and withdrawals,
Economic growth with withdrawals ...
4  cards
index numbers
Why use index numbers,
How to use index numbers,
How to calculate index numbers
3  cards
Aggregate demand shifts and the downward slope
What is aggregate demand,
Equation for aggregate demand,
Movements along the ad curve
4  cards
consumer spending + AD
What is consumption,
Mpc,
Determinant ants of consumption
3  cards
savings + AD
What is saving,
Marginal propensity to save,
Determinate of savings
3  cards
investment + AD
Investment,
Determinants of investment,
The accelerator effect
3  cards
government spending and AD
What is government spending and w...,
Different types of government spe...,
Surplus vs deficit gov
4  cards
net exports + AD
Determinants of net exports
1  cards
aggregate supply
What is aggregate supply,
Short run determinants,
What is meant by yfe
5  cards
macro equilibrium + shifts
Short run equilibrium,
Long run equilibrium,
Shifts in ad using exam technique
4  cards
output gaps
What is a negative output gap and...,
Negative output gap classical an ...,
Positive output gap what is it ca...
5  cards
measures of Econ growth
Why is measure of national income...,
Measure of gdp,
Measures of gdp capita
5  cards
causes of economic growth
What is economic growth,
Short run growth diagrams,
Causes of short run growth
5  cards
the economic cycle
Graph of business cycle economic ...,
Definition of a recession,
Different characteristics in econ...
4  cards
costs and benefits of growth
Benefits of growth,
Costs of economic growth,
Evaluation of economic growth
3  cards
how is unemployment measured
What is unemployment who,
Labour force surveywhat is it who...,
Claimant count what and issues
4  cards
types/causes of unemployment
Two major groups of unemployment,
Cyclical unemployment and how,
Real wage unemployment and how
6  cards
natural rate of unemployment
What is the natural rate of unemp...,
Graph showing natural rate of une...,
Structural unemployment
7  cards
costs and benefits of employment
Costs of unemployment,
Benefits of consumption,
Evaluation of unemployment benefi...
3  cards
CPI inflation measure- constructing and calculating
Inflation,
Different types of inflation,
Cpi how to use what it is
4  cards
causes of inflation- demand-pull, cost push
Difference between demand and cos...,
Causes of demand pull,
Causes of cost push inflation
3  cards
costs and benefits of inflation
Costs of inflation,
Benefits of inflation,
Evaluation of inflation
3  cards
deflation- causes and consequences
Deflation,
Different types of deflation,
Demand side deflation
5  cards
government spending and taxation
Types of government spending,
Reasons for gov spending,
Types of taxation
4  cards
different types of taxation systems
Different types,
Different types of tax,
Taxable income equation income ta...
3  cards
fiscal policy
What is fiscal policy and what it...,
Different types of fiscal policy ...,
Expansionary fiscal policy exampl...
5  cards
automatic stabilisers of fiscal policy
Automatic stabilisers,
Automatic stabilisers in boom and...,
Multiplier effect
3  cards
rising budget deficits and national debt
Budget deficit and different types,
Pros of budget deficit,
Cons of budget deficit
4  cards
deficit and debt reduction (contractionary)
Budget surplus and types,
Benefits of budget surplus,
Cons of budget surplus
4  cards
monetary policy
What is monetary policy and diffe...,
Expansionary monetary policy vs c...,
Expansionary monetary policy tran...
6  cards
supply side policies
What are supply side policies,
Interventionist supply side policies,
Market based supply side policies
4  cards
policies to increase growth and living standards
Policy to increase short run growth,
Policies to increase long run growth
2  cards
policies to reduce unemployment
Policy to reduce cyclical unemplo...,
Policy to reduce real wage unempl...,
Policy to reduce structural unemp...
4  cards
policies to reduce inflation
Policy to reduce demand pull infl...,
Policies to reduce cost push infl...,
Policies to reduce high long term...
3  cards
globalisation
What is globalisation and causes,
Pros of globalisation,
Cons of globalisation
3  cards
floating exchange rate determination
What is the exchange rate,
Floating exchange rate graph
2  cards
floating change rate appreciations and depreciations
Appreciation due to demand why,
Depreciation of exchange rate due...
2  cards
how are fixed exchange rates managed
What is needed for a fixed exchan...,
What does governemnt do if there ...,
What does governemnt do if there ...
4  cards
impacts of exchange rate appreciation and depreciation
Appreciation monogram,
Appreciation graphs,
Analysis of appreciation
4  cards
should governments intervene in exchange rate markets
Why governments intervene,
How do governments intervene in e...
2  cards
Purchasing power parity and exchange rates
What does ppp reflect,
Problems with nominal exchange ra...,
How does ppp work floating
4  cards
floating exchange rate and automatic correction of CA deficit
Link between ca and floating exch...
1  cards
fixed vs floating exchange rates
Benefits of floating exchange rates,
Negatives of floating exchange rate,
Benefits of fixed exchange rates
4  cards
marshall-lerner and j-curve effect
What are the marshall lerner cond...,
What does,
Ped and total revenue
5  cards
economic integration and trading blocs
What is economic integration,
Trading bloc,
Bilateral multilateral trade agre...
4  cards
features of the EU
Features of the eu
1  cards
pros and cons of eu membership
Benefits of eu,
Cons of eu
2  cards
trade creation
What is trade creation,
Trade creation diagram,
Benefits of trade creation
3  cards
trade diversion
What is trade diversion,
Diagram of trade diversion,
Consequences of trade diversion
3  cards
classic as/ad model long and short run
Classical as ad model assumptions...
1  cards
Econ cycle features and causes
Phase of boom,
Phase of rescession,
Phase of recovery
4  cards
Phillips curve
Graph of short run phillips curve,
What does phillips curve tell us ...,
Stagflation and phillips curve
4  cards
costs and benefits of Econ growth
Benefits of econ growth,
Costs of economic growth
2  cards
costs and benefits of unemployment
Costs of unemployment,
Benefits of unemployment,
Evaluation of unemployment
3  cards
costs and benefits of inflation
Costs of inflation,
Benefits of inflation,
Evaluation of inflation
3  cards
fiscal policy pt.2
Government bond what how and why,
What is on a gov bond,
Nominal value of bond
4  cards
crowding out effect
Crowding out effect,
Crowding out effect graph
2  cards
money and the money supply
Functions of money,
Characteristics,
Types of money
5  cards
quanitity theory of money
Fisher equation
1  cards
the money market
How does monetary policy work res...,
Money market graph
2  cards
monetary policy transmission mechanism
Transmission mechanism
1  cards
quantitative easing
What is qe,
How qe works
2  cards
poverty
What is poverty and type,
Equity vs equality and diff types...,
Causes of poverty
3  cards
distribution of income
Income vs wealth,
Reasons for income and wealth dif...
2  cards
Lorenz curve and ginin coefficient
Lorenz curve and gini coefficient,
Lorenz curve graph,
Gini coefficeint calc and meaning
3  cards
policy to reduce income and wealth with eval
Policies for i wealth,
Evaluation of policies for i wealth
2  cards
laffer curve
Laffer curve idea and graph
1  cards
balance of payments
What is the balance of payments,
Current account,
Financial account
4  cards
current account deficit consequences
Consequences
1  cards
expenditure reducing and switching policies
Expenditure reducing policy,
Expenditure,
Supply side policies for current ...
4  cards
current account surplus
Demand side and supply side cause...,
Consequences of current account s...
2  cards
law of comparative advantage
What is comparative advantage and...,
Equation,
How to check comp advantage on graph
4  cards
criticisms of comparative advantage
Limitations of comparative advantage
1  cards
benefits of free trade
Benefits of free trade,
Effect on graph
2  cards
reasons for protectionism
Reasons for protectionism
1  cards
tariff
What is a tariff,
Graph of tariff
2  cards
trade tarriff, analysis
Analysis of tarriff on graph quan...
1  cards
evaluation of protectionism
Disadvantages of tariffs brief eval
1  cards
import quota
Import quota,
Effect on graph
2  cards
import quota analysis
Analysis of quota
1  cards
trade subsidy
What is a trade subsidy,
Effect of trade subsidy on graph
2  cards
trade sub analysis
Trade subsidy analysis
1  cards
world trade organisation
What is the wto,
Ideal trade according to wto,
Functions roles of wto
3  cards
international competitiveness
What is international competitive,
What determines whether a country...,
Factors determine international c...
4  cards
economics development
What is economics development sen...,
Growth
2  cards
characteristics of development
Characteristics of developing
1  cards
measures of development
Single indicators,
Health development index,
Laffer curve gini coefficient
3  cards
institutional factors and development
Education healthcare infrastrcture,
Taxation tech women income distri...,
Political stability
3  cards
poverty cycle
What is the poverty cycle
1  cards
long term sources of growth and development
Long run factors
1  cards
international trade and development
Benefits of international trade a...,
Barriers to trade and development
2  cards
policies with development
Import substitution and export pr...,
Markets trade agreements and dive...
2  cards
foreign direct investment
Foreign direct investment,
Why fdi
2  cards
sustainable growth and development
Sustainability and effect of growth
1  cards
foreign aid
Foreign aid and forms types,
Concerns of aid
2  cards
solutions to resolve development and indebtedness
Indebtedness and solutions,
Market based policies and develop...,
Interventionist policies and deve...
3  cards
financial markets
What is a financial market,
Visual example of financial markets
2  cards
types of financial markets
Types of financial markets,
Difference between debt and equit...
2  cards
money and the money supply
Functions and characteristics of ...,
Types of money,
Money supply
3  cards
the quantity theory of money
Quantity theory of money
1  cards
money market interest rates
What is the money market graph an...
1  cards
bonds and yields
What is a bond who issues and why...,
What is on a bond
2  cards
credit creation and money multiplier
Credit creation,
Money multiplier
2  cards
commercial and investment banks
Differences between commercial an...,
Systemic risk
2  cards
commercial bank balance sheet
What is a balance sheet,
Types of assets,
Types of liabilities
3  cards
bank failure
Why do banks fail
1  cards
objectives of commercial banks
Objective of commercial bank,
How do banks resolve failure
2  cards
role of central bank
Role of central bank,
Financial stability importance,
Issues of central bank
3  cards
financial market failure
What is financial market failure,
Group cause of financial market f...
2  cards
types of financial market failure
Speculation,
Bubbles,
Asymmetric info
4  cards
financial market regulations
Bank of england regs,
Other micro prudential regs
2  cards
finaical regulation
Types of regulation,
Capital and liquidity ratios,
Reserve requirements
6  cards
evaluation of finical market regulations
Evaluation and cons of financial ...
1  cards

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