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MAcroeconomics

Macroeconomics is a branch of economics that studies the performance, structure, behavior, and decision-making of an economy as a whole. It focuses on concepts such as GDP, inflation, unemployment, foreign trade, exchange rate, aggregate supply, and aggregate demand. This article provides an overview of these key concepts and their importance in understanding the national economy.

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MAcroeconomics

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  1. MAcroeconomics

  2. DEFINITION • Macroeconomics a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. • The word is of Greek origin: makro – meaning „large" and economics

  3. WHAT DOES MACROECONOMICS STUDY? • GDP • Inflation • Unemployment • Foreign trade • Exchange rate • Aggregate supply • Aggregate demand

  4. NATIONAL ECONOMY = refers to a country's financial resources • Every national economy has some stages of development so-called economic cycle with four levels: • Expansion • Peak • Recession • Trough PEAK RECESSION EXPANSION TROUGH

  5. GDP = gross domestic product • GDP is the market value of all final goods and services produced within a country in a year. • We distinguish GDP and GDP per capita

  6. GDP PER CAPITA • is often used as an indicator of a country's material standard of living. • The states with the highest GDP per capita: • Quatar • Luxembourg • Singapore • Norway • Brunei Darussalam • HongKong • U.S.A. • United Arab Emirates • Switzerland • Australia

  7. 459,- Kč 548,-Kč INFLATION = increasing price level of all goods and services over a longer period • We distinguish 3 types of inflation: • Moderate (low) inflation • Galloping inflation • Hyperinflation $1000 $1890 45 € 52 € £1,2 £2,1

  8. UNEMPLOYMENT • Unemployment occurs when people are without work and actively seeking work. • We distinguish some types of unemployment: • Frictional • Structural • Cyclical • Seasonal LOOKING FOR A JOB

  9. UNEMPLOYMENT • Frictional unemployment (short-term) – is very natural, it´s a situation when people are looking for a job and they mostly find it quickly (after graduating from school, after moving) • Structural unemployment – it appears when some sectors (or geographic area) gets into a stronger downturn

  10. UNEMPLOYMENT • Cyclical unemployment - based on the economic cycle in a period of recession and trough • Seasonal unemployment - is regularly in some sectors (agriculture, tourism)

  11. TAXES = mandatorypayment in the public bugdet • Individuals and legal entitiespaydifferenttaxes. STATE  FOR ME 

  12. TYPES OF TAXES • Income taxes • Property tax • VAT (Value added tax) • Consumer taxes

  13. Resources: • http://www.ask.com/question/what-is-national-economy • http://www.dummies.com/how-to/content/tracking-the-economic-cycle-from-expansion-to-rece.html • http://en.wikipedia.org/wiki/Gross_domestic_product • http://www.mapsofworld.com/world-top-ten/world-top-ten-gross-domestic-countries-map.html • www.pixabay.com

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