Micro Economics Essay

Macro Economic System as well as Management.

1 ) Macro Economical Concerns:

• Micro compared to Macro Economics.

• Significant Building Blocks of Macro Economics:

1) AD & WHILE

2) Several Sectors: HHS, BS, GS & FTS

3) Two Markets: Asset Market and Money Market.

• Specific issues to be tackled in Macro Economics:

to Rising Rates

o Increasing Unemployment

u Falling GDP

o Equilibrium of Payments Crisis.

• Tools of Macro Economic Policy and Management:

to Fiscal Plan

o Financial Policy

um Other Policies: Trade, Price and Time Policies.

2 . The Key Macro Economic Concepts:

• Get worse Supply (AS) Curve:

to Describes, for each given value level, the amount of output firms are willing to supply.

o SINCE: Upward Sloping ( Companies willing to supply more output at larger prices.

P

BECAUSE

O Sumado a

End result

o ADC: Shows the combinations with the price level and degree of output where the goods and money market segments are concurrently in sense of balance.

o ADC: Downward Sloping ( At higher rates, reduction in the significance of money supply, demand for end result is lowered.

P

AD

O Sumado a

End result

o Sense of balance level of output and the sense of balance price level.

AS

P0 Electronic

ADVERTISEMENT

O Con

Y0Output

P0 sama dengan Equilibrium Selling price Level

Y0 = Equilibrium Level of Output.

o Adjustments in ADC and ASC:

Case you: A Rightward shift in ADC because of an increase in nominal money stock.

AS

P1E1

P0 At the

AD1

AD

O Con

Y0 Y1Output

❖ Observe fresh point of equilibrium (E1) and fresh levels of equilibrium price (P1) and result (Y1). Case 2: A leftward change in ASC due to essential oil price rise or as a result of drought.

P

AS1

BECAUSE

E1

P1

P0 E

AD

U Y

Y1 Y0Output

❖ See an increase in S and decrease in output.

• The Keynesian and Traditional ASC:

to Short run horizontally ASC (The Keynesian):

S

Assumption:

Unemployment

A Sof solutions

OY

Output

• The Traditional vertical ASC:

P

AS AS*

Assumption: Full

employment of

resources

U Y

Y* Y**

Outcome

❖ ASC: Shifts proper right as a result of growth of outcome overtime.

• Consider shifts in ADVERTISEMENT due to a rise in money source (monetary expansion) and an increase in government spending (G) – fiscal growth.

Case one particular: The Keynesian Case:

L

( A rise in

At the E1 outcome, but zero

A S change in

AD1 price level

ADVERTISING

OY

Y0 Y1 Output

Case 2: The Classical Case:

P

AS

P1 E1( A rise in

L, but no

P0 At the E11 enhancements made on AD1 outcome

ADVERTISING

OY

Y* Outcome

( If prices fixed(P0)→horizontal supply shape, economy will move to E11→ The Keynesian Equilibrium.

• Long run, channel run...



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