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Unit 2 The National Economy


Aggregate demand curve
Aggregate supply
- Elasticity of aggregate supply
Equilibrium of aggregate demand and supply
Consumption and savings
- Consumption and savings function
- Trends in the saving ratios
- Consumer confidence
- Wealth and consumer demand
- Friedman's permanent income hypothesis
- Gross and net investment
- Why do firms invest?
- UK Investment In An International Context
- The Marginal Efficiency Of Investment - The Keynesian Theory Of Investment
- The accelerator
- Recent Trends In The Growth Of Consumption And Investment Spending
- Capital base
- Direct investment into the UK
- Inward Investment And The Regional Economic Problem
Government spending
- Government borrowing
- National debt
Exports and Imports
Objectives of government macroeconomic policy
Inflation and its measures and links
- The main causes of inflation
- Inflationary gaps
- Costs and effect of inflation
- Unit labour costs and inflation
- Monetary inflation
- Policies to control inflation
- Inflation targets
- Deflation
- Inflation figures (Excel spreadsheet)
Unemployment - Measuring unemployment
- Economic costs of unemployment
- The main causes of unemployment
- Policies to reduce unemployment
- Changing patterns of unemployment
- Full employment
- Natural rate of unemployment
- Job vacancies
- Long term unemployment
- New Deal
Economic growth and measurement and links
- Benefits and costs of growth
- The economic cycle
- Theories of growth
- Economic resources and long run growth
- Government policies
- Growth and jobs
- USA a model to follow
- The structure of output in an economy
Balance of payments
- The current account
- The UK's current account
- The capital account
- The balance of payments must balance
- Can a country safely ignore a persistent current account deficit?
Conflicts Between Macro Economic Objectives
Demand management or supply side?



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