AE0013 - Chapter 6.ppt - CHAPTER 6 MACROECONOMIC...

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CHAPTER 6 MACROECONOMIC: INTRODUCTION AND MEASUREMENT
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LEARNING OUTCOME At the end of this chapter, student will be able to: Explain the history a macroeconomics. Explain the macroeconomic goals. Define a business cycle and its characteristics. Explain the four phases of a business cycle. Define unemployment and explain the types of unemployment.
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LEARNING OUTCOME At the end of this chapter, student will be able to: Calculate the CPI. Define inflation and explain the calculation of the inflation rate. Explain the types of inflation. Explore the effects of inflation.
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INTRODUCTION TO MACROECONOMICS One of the branches of the economy, besides microeconomic. Examine the behavior of the economy as a whole. The variables involved such as aggregate output, the price level, employment and unemployment, interest rates, foreign exchange rates and wages. Examine the factors that influence these variables. Reviewing the government policies to control these variables.
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DIFFERENCE BETWEEN MICROECONOMICS AND MACROECONOMICS Studies on individual income Analyzes demand for and supply of labour Deals with household and firms decisions Studies on individual prices Analyzes demand and supply of goods Studies on national income Analyzes total employment in the economy Deals with aggregate decisions Studies overall price level Analyzes aggregate demand and aggregate supply MACROECONOMICS MICROECONOMICS
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