Lecture 1-Introduction.pptx

Lecture 1-Introduction.pptx - 30-Jan-18 MACROECONOMIC S...

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30-Jan-18 MACROECONOMIC S LECTURE 1 INTRODUCTION CONTENTS OF THE LECTURE 1. Why is macroeconomics useful? 2. General module information 3. Structure of the module 4. Module assessment 5. GDP 6. The unemployment rate 7. The inflation rate CONTENTS OF THE LECTURE 1. Why is macroeconomics useful? 2. General module information 3. Structure of the module 4. Module assessment 5. GDP 6. The unemployment rate 7. The inflation rate 1
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30-Jan-18 1. WHY IS MACROECONOMICS USEFUL? Macroeconomics is used to formulate and evaluate the economic policies that shape our future. Macroeconomics is a very important tool for understanding contemporary societies . Macroeconomic knowledge is essential for those who make decisions about financial investments . 4 1. WHY IS MACROECONOMICS USEFUL? The video below shows Jan Hatzius (Chief Economist at Goldman Sachs) describing the 2017 economic outlook for the US economy: Why is macroeconomics useful for those who work in the financial sector? 5 CONTENTS OF THE LECTURE 1. Why is macroeconomics useful? 2. General module information 3. Structure of the module 4. Module assessment 5. GDP 6. The unemployment rate 7. The inflation rate 2
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30-Jan-18 2. GENERAL MODULE INFORMATION The module pays particular attention to: The schools of macroeconomic thought, pluralism and critical thinking The links between macroeconomic theories and the real world The role of the financial system 7 CONTENTS OF THE LECTURE 1. Why is macroeconomics useful? 2. General module information 3. Structure of the module 4. Module assessment 5. GDP 6. The unemployment rate 7. The inflation rate 3. STRUCTURE OF THE MODULE 9 The module is organised into 6 study units : 1.Introduction to macroeconomics 2.Output determination and income distribution 3.Macroeconomics and ecological sustainability 4.Inflation, unemployment and economic growth 5.Money creation and macroeconomic policy 6.Open economy and crises 3
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