Macroeconomics I (1^st Year)

Date: 2024

ISBN: 978-1-9256311-8-0

Format: A4, 2-page, Laminated Card

Description

The aim of this Student Guide Card is to provide first year students with an outline of the basic concepts and principles of Macroeconomics I. In particular, the topics discussed in this title include: (i) definition of macroeconomics; (ii) schools of thought in macroeconomics; (iii) the role of economic models; (iv) measure of economic performance; (v) gross domestic product; (vi) measuring gross domestic product; (vii) limitations of gross domestic product; (viii) real gross domestic product versus nominal gross domestic product; (ix) consumer price index; (x) measuring consumer price index; (xi) the cost of high inflation (and deflation); (xii) savings, investment and wealth; (xiii) reasons for savings; (xiv) wages, employment and the labour market; (xv) measuring unemployment; (xvi) Okun’s law; (xvii) types of unemployment; (xviii) factors that prevent full employment; and (xix) the costs of unemployment.