Chapter 30: Macroeconomic objectives. Review; What is Microeconomics? Brainstorm; Looks at individual parts of the economy Looks at how individuals, households.

Slides:

Advertisements

Similar presentations

Introduction to Macroeconomic Concepts

Advertisements

Introduction: Economic Issues Introduction: Economic Issues.

9 The Economy and Business Activity 9 The Economy and Business Activity.

Saad Al-Shibani Differences between micro and macroeconomcis.

Intro To Economics By Ervin Mafoua-Namy Ricky Jean-Louis P.6.

SOCIAL STUDIES Domain III. COMPETENCY 22 Economics The teacher understands the concepts and processes of government and the responsibilities of citizenship;

Bellwork: What is one thing you know or think you know about the study of economics???

C H A P T E R 17: Introduction to Macroeconomics © 2004 Prentice Hall Business PublishingPrinciples of Economics, 7/eKarl Case, Ray Fair 1 of 31 Chapter.

1 Some more intro material Here we have some more basic concepts that we see in the study of economics.

LOGO. Microeconomics is the study of how households and firms make decisions and how these decision makers interact in the broader marketplace. In microeconomics,

Microeconomics vs Macroeconomics. Copyright © 2005 by McGraw-Hill Ryerson Limited. All rights reserved.  Microeconomics focuses on decisions that individual.

© John Tribe 1 Introduction. © John Tribe Learning outcomes By the end of this session students will be able to: –understand the scope of recreation,

The Macroeconomic Environment By the end of this class you should be able to: 1)Define macroeconomics 2)Explain the flow of income in an economy 3)Recognise.

The Circular Flow Of Economic Activity

1. Define “scarcity” 2. What are the four factors of production? 3. What is the difference between “labor” and “human capital”? 4. What is a trade-off?

Introduction to Economics Welcome! 1) Take a Book (front of classroom) 2) Pick a desk carefully, it is for the entire semester!

Introduction: Economic Issues Introduction: Economic Issues.

Introduction to Economics What is this course about??

Chapter 1: The Nature of Economics

Chapter 1 Nature of Economics1 Content Part I What is economics? Part II Consumption, Production & Exchange Part III Market structure Part IV Factor market.

THREE TOPICS OF SHORT REPORTs ANDREA FARINA will speak about: Microeconomics Macroeconomics Positive Statements.

RECAP LAST CLASS. ECONOMIC ENVIRONMENT FOR BUSINESS Maximisation of Shareholders wealth ID FD DD NEW PROJECTS RAISING CAPITAL PAY OR INVEST ACQUISITION.

1 LECTURE ONE Text book: Economics by Hubbard, R. Glenn, and Anthony Patrick O’Brien Economics. 3rd ed. Pearson Reference book: Economics by Campbell R.

What is Economics? It is a social science that studies the economic behaviour of people.

Microeconomics Unit 1. Economics is … Social science Efficient use of limited or scarce resources Maximum satisfaction of human economic wants Study of.

Principles of Microeconomics

Principles of Microeconomics Lecture 1 Overview of Economics

1 INTRODUCTION. Copyright © 2004 South-Western/Thomson Learning Economy The word economy comes from a Greek word for “one who manages a household.”

Economic Issues. Economics What is Economics? Macroeconomics vs. Microeconomics Demand and Supply.

AP Macroeconomics The Circular Flow of Economic Activity

EC1150 Macroeconomics Introduction 1. of 27 Copyright © 2008 Pearson Education Canada  Instructor: Andrea Best  Instructor’s Phone Number:

AQA Economics Unit 4 The National and International Economy.

Econ Chapter One Quiz Review Let’s come up with some good answers to these questions…

1 The Scope and Method of Economics Chapter 1. 2 THE SCOPE AND METHOD OF ECONOMICS economics The study of how individuals and societies choose to use.

Year 10 Economics On the first day of every week, each one of you should set aside a sum of money in keeping with his income.” 1 Corinthians 16:2.

Thinking Like An Economist CHAPTER 2. In this chapter, look for the answers to these questions: What are economists’ two roles? How do they differ? What.

Chapter 2: Thinking Like an Economist

Introduction to Economics Part 1. What is Economics? What is Economics? – Quiz Choose the correct answer 1. Economics is the political science that deals.

ECON202, Maclachlan1 SEVEN PRINCIPLES OF ECONOMICS Chapter 1.

A2 External Influences Government policies affecting business.

The Meaning of Macroeconomic Performance By the end of this session, you:By the end of this session, you: –Must know definitions for AD and AS. –Must know.

Introduction: Economic Issues. The Economic Problem Economic problems –production and consumption –Scarcity: the central economic problem Macroeconomic.

Macroeconomics. Drill 4/2  So far, everything we have talked about in class has been MICROeconomics. Today we are going to start MACROeconomics.  What.

LESSON 1 WHAT IS ECONOMICS. Economics is the study of the way in which money, industry, and commerce organized in a society. Microeconomics is the branch.

AS Economics PowerPoint Briefings Introduction to Macroeconomics AS Economics.

Ms. Kronlokken.  Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation.

How do we measure economic performance?

Dr.P.Saradhamani , DoMS, EAB-I Unit

Introducing Economics

Principles of Macroeconomics, Fall 2010

Chapter 2: Thinking Like an Economist

What kind of problems do you think an economist tries to solve?

Microeconomics VS Macroeconomics

DO NOW What is the economic relationship between efficiency and underutilization? Explain.

Overview of Macroeconomics

ECN 201: Principles of Microeconomics Nusrat Jahan Lecture-1

Microeconomics vs Macroeconomics

Economics of International Finance Econ. 315

ECN 200: Introduction to Economics Basic Idea of Macroeconomics

Thinking Like an Economist

A Preview of Macroeconomics.

CHAPTER 1 INTRODUCTION TO MACROECONOMIC

Introduction: Economic Issues.

Macroeconomic policy objectives

CHAPTER 13 MICROECONOMICS OF “THE NEW ECONOMY”: INNOVATION AND GROWTH

Economics Chapter 1 Scope of study.

Eco 1/3 What Do Economists Do?.

Presentation transcript:

Chapter 30: Macroeconomic objectives

Review; What is Microeconomics? Brainstorm; Looks at individual parts of the economy Looks at how individuals, households or firms make decisions when allocating resources It often involves looking at a specific industry eg. The market for holidays, corn, teachers, etc.

What is Macroeconomics? Brainstorm; What are some terms relating to Macroeconomics? Looking at the economy as a whole Looks at performance, structure and behaviour of the economy

Brainstorm? Is the Thai economy doing well at the moment? Why / why not? Generally people look to the performance of the macroeconomic objectives, i.e.; Economic Growth Inflation Unemployment The Balance of Payments Protection of the environment Discuss with your group and try to come up with definitions for the macroeconomic objectives listed above. Read pages to compare your answers Exam practice How to measure if an economy is doing well?