Macro Economics Book 4 A Level Notes

500.00

Book Code : 160
Number of Pages : 166
Author : Imran Latif
Language : English
Publishers : Read and Write Publications

 

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TABLE OF CONTENTS
PREFACE ………………………………………………………………………………………………………………………………………………….. 5
REFERENCES ……………………………………………………………………………………………………………………………………………… 6
A-LEVEL ECONOMICS 9708 SYLLABUS OVERVIEW (2016-18) …………………………………………………………………………………… 8
UNIT 1 NATIONAL INCOME ACCOUNTING ………………………………………………………………………………………….. 20
NATIONAL INCOME CONCEPTS ………………………………………………………………………………………………………………………. 20
METHODS OF CALCULATING NATIONAL INCOME ………………………………………………………………………………………………….. 24
PROBLEMS IN CALCULATING NATIONAL INCOME:- ………………………………………………………………………………………………… 26
USES OF NATIONAL INCOME STATISTICS ……………………………………………………………………………………………………………. 27
NATIONAL DEBT ……………………………………………………………………………………………………………………………………….. 28
BUSINESS (TRADE) CYCLE …………………………………………………………………………………………………………………………….. 29
PAST PAPER QUESTIONS ……………………………………………………………………………………………………………………………… 31
UNIT 2 ECONOMIC GROWTH AND DEVELOPMENT ………………………………………………………………………………. 34
COMPARISON OF ACTUAL AND POTENTIAL GROWTH ………………………………………………………………………………………………. 34
COSTS AND BENEFITS OF GROWTH, INCLUDING USING AND CONSERVING RESOURCES: ……………………………………………………….. 37
USING AND CONSERVING RESOURCES ……………………………………………………………………………………………………………….. 38
NATIONAL INCOME STATISTICS AND STANDARD OF LIVING ……………………………………………………………………………………….. 40
ECONOMIC DEVELOPMENT …………………………………………………………………………………………………………………………… 42
CLASSIFICATION OF COUNTRIES: ……………………………………………………………………………………………………………………… 43
POLICY APPROACHES FOR ECONOMIC DEVELOPMENT ……………………………………………………………………………………………. 50
THE ROLE OF THE INTERNATIONAL MONETARY FUND AND THE WORLD BANK ………………………………………………………………… 53
PROBLEMS EXISTING IN DEVELOPED COUNTRIES: …………………………………………………………………………………………………. 54
PAST PAPER QUESTIONS ……………………………………………………………………………………………………………………………… 56
UNIT 3 KEYNESIAN THEORY OF INCOME AND EMPLOYMENT ………………………………………………………………… 68
SECTORS AND TYPES OF ECONOMIES: ………………………………………………………………………………………………………………. 68
CIRCULAR FLOW OF INCOME …………………………………………………………………………………………………………………………. 68
FROM ACTUAL TO DESIRED EXPENDITURE …………………………………………………………………………………………………………. 71
1. CONSUMPTION FUNCTION: ……………………………………………………………………………………………………………………….. 73
2: SAVING FUNCTION: ………………………………………………………………………………………………………………………………… 79
3. TAX FUNCTION ……………………………………………………………………………………………………………………………………… 83
4. IMPORT FUNCTIONS ……………………………………………………………………………………………………………………………….. 84
5. EXPORTS FUNCTION ……………………………………………………………………………………………………………………………….. 85
6. GOVERNMENT EXPENDITURE FUNCTION: ……………………………………………………………………………………………………….. 87
7. DESIRED/PLANNED INVESTMENT:- ………………………………………………………………………………………………………………. 90
NATIONAL INCOME EQUILIBRIUM: ………………………………………………………………………………………………………………….. 97
INFLATIONARY AND DEFLATIONARY GAPS. ………………………………………………………………………………………………………….. 98
MULTIPLIER …………………………………………………………………………………………………………………………………………… 101
ACCELERATOR: ……………………………………………………………………………………………………………………………………….. 104
PAST PAPER QUESTIONS ……………………………………………………………………………………………………………………………. 109
UNIT 4 MONEY, BANKING AND INTEREST RATE DETERMINATION ……………………………………………………….. 114
MONEY ……………………………………………………………………………………………………………………………………………….. 114
BANKING: …………………………………………………………………………………………………………………………………………….. 114
CREDIT CREATION PROCESS: ……………………………………………………………………………………………………………………….. 115
INTEREST RATE DETERMINATION ………………………………………………………………………………………………………………….. 117
LIQUIDITY PREFERENCE THEORY (LPT): …………………………………………………………………………………………………………… 117
DEMAND FOR MONEY/LIQUIDITY PREFERENCE (LP): …………………………………………………………………………………………… 119
CHANGES IN EQUILIBRIUM INTEREST RATE: ………………………………………………………………………………………………………. 123
PAST PAPERS QUESTIONS …………………………………………………………………………………………………………………………… 125
4
UNIT 5 MACROECONOMIC POLICIES ……………………………………………………………………………………………….. 128
MONETARY POLICY: …………………………………………………………………………………………………………………………………. 128
MONETARY TRANSMISSION MECHANISM (MTM) ……………………………………………………………………………………………… 128
GOVERNMENT FAILURE ON MACROECONOMIC POLICY ………………………………………………………………………………………….. 133
PAST PAPERS QUESTIONS …………………………………………………………………………………………………………………………… 139
UNIT 6 EMPLOYMENT AND UNEMPLOYMENT …………………………………………………………………………………… 144
THE CAUSES OF UNEMPLOYMENT ………………………………………………………………………………………………………………….. 144
VOLUNTARY AND INVOLUNTARY UNEMPLOYMENT ……………………………………………………………………………………………… 146
FULL-EMPLOYMENT / NATURAL RATE OF UNEMPLOYMENT (NRU) …………………………………………………………………………… 147
THE CONSEQUENCES OF UNEMPLOYMENT ………………………………………………………………………………………………………… 147
METHODS AND DIFFICULTIES OF MEASURING UNEMPLOYMENT ……………………………………………………………………………….. 148
POLICIES TO CORRECT UNEMPLOYMENT…………………………………………………………………………………………………………… 149
THE PATTERN AND TRENDS IN (UN)EMPLOYMENT ……………………………………………………………………………………………….. 150
INFLUENCES ON THE SIZE AND COMPOSITION OF THE LABOUR FORCE …………………………………………………………………………. 150
PAST PAPER QUESTIONS ……………………………………………………………………………………………………………………………. 152
UNIT 7 MACROECONOMIC OBJECTIVES AND CONFLICTS BETWEEN POLICY OBJECTIVES ………………………….. 156
LONG-RUN PHILIPS CURVE (LRPC): ………………………………………………………………………………………………………………. 157
GOVERNMENT ECONOMIC AIMS: ………………………………………………………………………………………………………………….. 158
CONFLICTS AMONG MACROECONOMIC AIMS: ……………………………………………………………………………………………………. 159
KEYNESIAN AND MONETARIST THEORETICAL APPROACHES ……………………………………………………………………………………… 162
PAST PAPER QUESTIONS ……………………………………………………………………………………………………………………………. 164

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