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Economics Topic 4 Notes

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Economic Management and Government Policies; includes monetary, fiscal, economic objectives and microeconomic policies

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16 Pages Partial Study Notes > 2 Years old
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Economics Topic 4 Notes
Topics this document covers:
Economy Macroeconomics Public finance Macroeconomic policy Inflation Unemployment Fiscal policy Monetary policy Economic policy Economics Minimum wage NAIRU
This is a Partial Set of Study Notes

Partial Study Notes typically cover only single topics of a unit of study or do not cover multiple topics in significant detail. They are generally less than 20 pages in length.

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Topics this document covers:
Economy Macroeconomics Public finance Macroeconomic policy Inflation Unemployment Fiscal policy Monetary policy Economic policy Economics Minimum wage NAIRU
Sample Text:
Internal Stability: full employment and price stability (low inflation) 3. External Stability: CAD, foreign liabilities and exchange rates 4. Income Equality: create more socially acceptable outcomes 5. Environmental sustainability: promotes long term economic growth and intergenerational equity (implemented through encouragement/punishment) Benefits of Eco Growth • ↑ living standards • ↑ job prospects • ↑income • ↑ avg income = ↑ health and nutrition • ↓ income poverty = ↑ social outcomes • ↑ tax revenue = ↑ socioeconomic infrastructure investments = ↑ education, welfare + clean drinking water • ↑ quality of life - however improved growth does not always = better quality of life e.g. (low income countries functions as “resource providers” to high income countries = growth without human development). Economic Development (Eco ...
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