Included in the PowerPoint: Macroeconomic Objectives (AS Level) a) Aggregate Demand (AD) and Aggregate Supply (AS) analysis - the shape and determinants
of AD and AS curves; AD = C+I+G + (X-M)- the distinction between a movement
along and a shift in AD and AS - the interaction
of AD and AS and the determination
of the level
of output, prices and employment b) Inflation - the definition
of inflation; degrees
of inflation and the measurement
of inflation; deflation and disinflation - the distinction between money values and real data - the cause
of inflation (cost - push and demand - pull inflation)- the consequences
of inflation c) Balance
of payments - the components
of the balance
of payments accounts (using the IMF / OECD definition): current account; capital and financial account; balancing item - meaning
of balance
of payments equilibrium and disequilibrium - causes
of balance
of payments disequilibrium in each component
of the accounts - consequences
of balance
of payments disequilibrium on domestic and external economy d) Exchange rates - definitions and measurement
of exchange rates - nominal, real, trade - weighted exchange rates - the determination
of exchange rates - floating, fixed, managed float - the factors underlying
changes in exchange rates - the effects
of changing exchange rates on the domestic and external economy using AD, Marshall - Lerner and J curve analysis - depreciation / appreciation - devaluation / revaluation e) The Terms
of Trade - the measurement
of the terms
of trade - causes
of the
changes in the terms
of trade - the impact
of changes in the terms
of trade f) Principles
of Absolute and comparative advantage - the distinction between absolute and comparative advantage - free trade area, customs union, monetary union, full economic union - trade creation and trade diversion - the benefits
of free trade, including the trading possibility curve g) Protectionism - the meaning
of protectionism in the context
of international trade - different methods
of protection and their impact, for example, tariffs, import duties and quotas, export subsidies, embargoes, voluntary export restraints (VERs) and excessive administrative burdens («red tape»)- the arguments in
favor of protectionism This PowerPoint is best used when using worksheets and activities to help reinforce the ideas talked about.
And I'm kinda
of the old school which, rather unimaginatively
favors strategic, long - range planning in the form
of a multiplicity
of potential futures — to include a world
of possible, cold climate
change along with a possible, warm climate
change — especially when the planning horizon is more than 80 years out.