Measures of Economic Performance — Measures of Economic Performance; Gross Domestic Product (GDP); Inflation; Unemployment; Balance of Payments; Macroeconomic Objectives and Conflicts
Aggregate Demand & Aggregate Supply — Aggregate Demand & Aggregate Supply; Aggregate Demand (AD); Aggregate Supply (AS); Macroeconomic Equilibrium; Using the AD/AS Model; The Multiplier
National Income & the Circular Flow — National Income & the Circular Flow; The Basic Circular Flow (Two-Sector Model); Injections and Withdrawals; Equilibrium in the Circular Flow; The Multiplier Process; Keynesian vs Classical Views
Economic Growth & the Business Cycle — Economic Growth & the Business Cycle; Short-Run vs Long-Run Growth; Sources of Long-Run Growth; The Business Cycle; Causes of the Business Cycle; Costs and Benefits of Economic Growth
Inflation — Inflation: Causes, Costs & Control; Types of Inflation; Costs of Inflation; Deflation; The Phillips Curve; Controlling Inflation
Unemployment — Unemployment: Types, Causes & Policies; Types of Unemployment; The Natural Rate of Unemployment (NRU); Costs of Unemployment; Policies to Reduce Unemployment; The Phillips Curve and Unemployment
Balance of Payments & Exchange Rates — Balance of Payments & Exchange Rates; The Balance of Payments; Exchange Rates; Policies to Correct a Current Account Deficit; Exam Technique
Fiscal Policy — Fiscal Policy; The Government Budget; Types of Fiscal Policy; How Fiscal Policy Works; Taxation; Automatic vs Discretionary Fiscal Policy
Monetary Policy — Monetary Policy; The Bank of England's Framework; The Bank Rate and Transmission Mechanism; Quantitative Easing (QE); Evaluation of Monetary Policy; Forward Guidance
Supply-Side Policies — Supply-Side Policies; What Are Supply-Side Policies?; Categories of Supply-Side Policies; Evaluation of Supply-Side Policies; Exam Technique
International Trade & Globalisation — International Trade & Globalisation; Why Countries Trade: Comparative Advantage; Benefits of Free Trade; Arguments for Protectionism; Globalisation; Evaluation: Is Globalisation a Force for Good?
Financial Markets & Market Failure — Financial Markets & Market Failure; Functions of Financial Markets; Types of Financial Markets; The Role of Financial Markets in the Economy; Market Failure in Financial Markets; The 2008 Global Financial Crisis
Economic Development & Emerging Economies — Economic Development & Emerging Economies; Growth vs Development; Measuring Development; Barriers to Development; Strategies for Development; Evaluation: Is There a Single Path to Development?