London School Of Economics - Course: Economics, Management,Finance And The Social Sciences (EC1002)
Class notes
Introduction to economics EC1002, lecture notes PPT (Macro)
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Course
London School Of Economics - Course: Economics, Management,Finance And The Social Sciences (EC1002)
Institution
London School Of Economics (LSE)
Total 473 pages of lecture PPT from London School of Economics.
All micro economics chapters. Macro economic chapters are in a separate file.
Chapter list:
N: Introduction to Macroeconomics, the National Accounts
O: Aggregate Demand and Fiscal Policy
P: Money and Banking
Q: Monetary Policy ...
All macro classes. micro classes are in separate file.
Subjects
introduction to economics
macroeconomics
lse
Written for
London School of Economics (LSE)
London School of Economics
London School Of Economics - Course: Economics, Management,Finance And The Social Sciences (EC1002)
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What is Macroeconomics?
, What is Macroeconomics?
• Macroeconomics is the study of the
economy as a whole
• It looks at incomes, production, and prices in
the aggregate rather than for particular
individuals, firms, markets, or industries
• There are trends and fluctuations in total
economic activity that we want to explain
,Key Macroeconomic Questions
• Why do economies typically grow? And
why do some do better than others?
• Why do economies go through “booms”
and “busts” or even financial crises?
• Why is there always unemployment? Why
does it vary across time and countries?
• Can governments stabilise the economy?
How to set economic policies such as
taxes, public spending, and interest rates?
, Why Is Macro Different From Micro?
• In Micro: Analysing the specifics of
individual markets in detail is important
• In Macro: Sheer size of the economy
means we must “zoom out” to see the “big
picture”
• Interdependency of different parts of the
economy is more important in macro
• One person’s spending is another person’s
income; one person’s borrowing is another
person’s saving
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