Section 3: Macroeconomics Syllabus 3

Macroeconomics Syllabus statement The purpose of this section is to provide students with the opportunity for a detailed examination of the major macroeconomic issues facing countries' economic growth, economic development, unemployment, inflation and income distribution. Section 4 deals with external equilibrium. Income distribution is introduced here in section 3 but is addressed in greater detail in section 5. The economic strategies available to governments—demand-side policies, supply-side policies, direct intervention—are introduced and evaluated. These policies are applicable to almost all areas of macroeconomics, international economics and development economics.

Macroeconomics Syllabus 3.1 Measuring National Income Draw and explain the Circular Flow of Income Justify the statement that Y=E=O Explain how we measure National Income 3 ways

Macroeconomics Distinguish between: gross and net national and domestic nominal and real total and per capita