AS ECONOMICS: THE NATIONAL ECONOMY

68 page AS Economics Revision Guide:
Contents:
Circular flow of income
The objectives of the government
Economic growth
Unemployment
How does the government measure unemployment?
Costs to the economy from unemployment:
Inflation
Costs of inflation
Causes of inflation
RPI and CPI
Deflation
Exchange rates
Evaluation points for exchange rates
Balance of payments
Why does the UK run a deficit on the balance of payments?
Evaluation points
Fiscal and monetary policy
Evaluation of fiscal policy
Interest rates
Evaluation of interest rates
The Economic Cycle
Trend rate of growth
Shifts in the aggregate demand curve
The multiplier effect
Evaluation of the multiplier
The accelerator effect
The Short Run Aggregate Supply Curve
The Sticky Wage Theory
The sticky price theory
What shifts the SRAS curve?
The distinction between short run and long run
The Long Run Aggregate Supply Curve
The output gap
Supply side policies
Evaluation of supply side policies
Exam technique
Common mistakes in exams
Evaluation tips
Examples of evaluation
Weak Evaluation and Strong Evaluation
Example of Developed Evaluation
Essay plans
Labour productivity
Essay plans
Savings