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Complete Macroeconomics 1 Notes

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Distinction level ECON1102 notes from Semester 2 2015. Includes all relevant theory, tables and graphs.

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51 Pages Complete Study Notes > 2 Years old
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Topics this document covers:
Economy Macroeconomics Economics Keynesian economics Fiscal policy Gross domestic product Public finance Demand Aggregate demand Inflation Potential output Fiscal multiplier
This is a Complete Set of Study Notes

Complete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics.

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Topics this document covers:
Economy Macroeconomics Economics Keynesian economics Fiscal policy Gross domestic product Public finance Demand Aggregate demand Inflation Potential output Fiscal multiplier
Sample Text:
Stability of Business cycle - low volatility in fluctuation s of actual output around its trend or potential output 3. Price Stability - low positive rate of inflation 4. Sustainable levels of Public and National Debt • Public Debt - borrowing by public sector from private sector • Foreign Debt - borrowing by domestic residents from foreign countries • Influenced by CAD 5. Balance between Current and Future Consumption • How much an economy should save/invest 6. Full Employment - All individuals seeking work can get work GDP • Defined as the market value of final goods and services produced in an economy during a given period • Is a flow variable – measured over a period of time • AUS GDP in March Quarter = $403.5 billion During a given period • Excludes goods and servic...
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