Overview of Macroeconomics

Plus de détails

Cuba (Havana)

par Estefania Rivera

GUANACA

par miguel angel escorcia rubiano

Imperialism in China

par ester ohman

The Economy of the !

par James Baker

Overview of Macroeconomics

To name your story, you have to think about the overall message and what you want your audience to understand from the story. Also, make it relevant and easy to remember.

The Role of Macroeconomic Policy

Macroeconomic policy played a central role in the improved business-cycle conditions of the last halfcentury.

When the United States faced a major shock to its fi nancial system in 2007–2009, central bankers remembered and understood the lessons of the Great Depression

The application of fiscal policy, and especially monetary policy, helped lower unemployment and ensured largely stable prices over the last two decades.

Aggregate Supply and Demand

Macroeconomic History: 1900–2008

The Growth Century.

The final act in our macroeconomic drama concerns the growth of output and prices over the entire period since 1900

Tight Money, 1979–1982.

The 1970s were a time of troubles, with rising oil prices, grain shortages, a sharp increase in import prices, union militancy, and accelerating wages.

Wartime Boom

The American economy entered the 1960s having experienced multiple recessions.

Inside the Macroeconomy: Aggregate Supply and Demand

Aggregate Demand refers to the total amount that different sectors in the economy willingly spend in a given period.

Fiscal policy

Monetary policy

Aggregate Supply refers to the total quantity of goods and services that the nation’s businesses willingly produce and sell in a given period.

Capital, labor, technology

Potential output

Price level and costs

Key Terms of Macroeconomics

In the beginning of the story (or the exposition), you will need to introduce the setting and characters. You might also want to introduce the main conflict. This part of the story is important because it gives the reader necessary background information and maybe even a first insight into a character’s personality.

Objectives and Instruments of Macroeconomics

The setting (time & place) of a story can change throughout the plot.

Having surveyed the principal issues macroeconomics, we now turn to a discussion of the major goals and instruments of macroeconomic policy.

Your story can take place wherever your imagination will take you to.
For example: in an elevator, in an enchanted forest, etc. Don't forget to give details of the environment each time the setting changes, otherwise, the story can be confusing. Also, mention the seasons as each of them has unique weather and events.

Measuring Economic Success

The major macroeconomic goals are a high level and rapid growth of output, low unemployment, and stable prices

Inflation

Price index

Unemployment rate

Gross Domestic Product

Output

The Birth of Macroeconomics

Characters are essential to a good story. Usually, the protagonist(s) is/are the most affected by the plot. Introduce a character by focusing on their actions, interests, and occupation, as the physical appearance doesn't make a difference in most cases.

The 1930s marked the first stirrings of the science of macroeconomics, founded by John Maynard Keynes

Type in the name of your character.

The U.S. Congress formally proclaimed federal responsibility for macroeconomic performance

Which traits best describe the character's personality? Choose more if necessary:

Keynes (1883–1946) was a many-sided genius who won eminence in the fields of mathematics, philosophy, and literature.

Choose the type of your chacter: