Macroeconomics

tribesquealingManagement

Oct 28, 2013 (3 years and 8 months ago)

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Macroeconomics


I.


Macroeconomics vs. Microeconomics


A.

Microeconomics
-

Economics of Individual Entities or Individual Markets



B.

Macroeconomics
-

Economics of Aggregates or Aggregate
Economic Activity




1.


Study of Aggregate Economic Activity or the
Econom
ics of Aggregates
-

Major Economic Aggregates
Include:













2.

Focus on Achieving Harmony or Equilibrium












3.

Additional Focus on Achieving Economic Efficiency
--

i.e. Full Employment and Price Level Stability










4.

Goal(s) of Economi
c Policy:










5.

Employment Act of 1946
-

Congress Formally Adopted
the Following Goals:


















I.

Aggregate View of the Economy


A.

Overall Measurement
-

How Much? How Many? How Big?


1.

Population


2.

Non
-
Institutional Population


3.

Labor For
ce


a)

Distribution by Gender



b)

Distribution by Production Sector





4.


Output
-

Gross Domestic Product


a)

Definition



b)

Performance Over Time






c)

Real vs. Nominal