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Principles of Economics

Principles of Economics. Session 11. Topics To Be Covered. Identities of Saving and Investment Consumption Function Marginal Propensity to Consume Marginal Propensity to Save Investment Function Equilibrium of the Goods Market Case Study: Output Accounting and Output Determination.

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Principles of Economics

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Open Economy Macroeconomics: Basic Concepts

PART XI: MACROECONOMICS OF OPEN ECONOMIES. Open Economy Macroeconomics: Basic Concepts. Chapter 31. What did we learn so far?. Macroeconomics is the study of the economy as a whole, in order to explain economic events that affect many households, firms and markets at the same time

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Chapter 2

Chapter 2. The Measurement of Income, Prices, and Unemployment. The Circular Flow of Income and Expenditure. The circular flow of income and expenditure model is a simple representation of the macro economy In the following graph, convince yourself that:

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Principles of Economics

Principles of Economics

Open Economy Macroeconomics: Basic Concepts

Chapter 2