1. Chapter 30: Macroeconomic objectives

2. 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.

3. 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

4. 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 135-138 to compare your answers Exam practice How to measure if an economy is doing well?