I don't like any of the coordinators because they marked my perfect diagrams so harshly. Shame on them!
ECO - Introductory Macroeconomics - Acalog ACMS™
I'll be dropping out of this uni for sure. Personally, as an economics major, I love macroeconomics. However, for this semester, I did not enjoy the subject. The lecture slides were too bulky and word heavy about 60 slides per 1 hour lecture. I prefer much more Intermediate macroeconomics which I am doing right now sem2, I did not expect to enjoy this subject as much as I did but it was really very good.
I highly recommend it if you have an interest in economics. I made the mistake of slacking on lectures so I did not initially appreciate the course material, and how much our lecturer Graham tried to provide a real-world relevance. However when I was cramming for exams I realised just how much I had been missing. It's not an easy subject but put in the work and you will be able to score well! Did this subject on summer, Nahid explained the concepts covered in lectures quite well and made not hard wouldn't say easy online tests, assignment and final exam as long as you understand the concepts.
To score well in this subject, do make sure to understand lectures and tutorial questions also more practice on past papers. Overall, this subject is interesting as it covers a broad concept of macroeconomics and the world economy in large scale.
I loved this subject. Being an enthusiast for economics, I enjoyed every bit of it. It did require effort throughout the semester, but I didn't mind it because of my love for economics. I read the textbook every week before the lectures and made my own notes after. Continuous review and efforts definitely help in the end. Students will also apply this framework to critically evaluate the design of monetary and fiscal policy, as well as events in the global economy. Where calculators are permitted in examinations, it must be selected from an approved list, which can be accessed from the Further Information link below.
Note: Students are expected to purchase prescribed material. Please note that textbook requirements may vary from one teaching period to the next. Note: An eBook version 2nd ed. Electronic devices are not permitted in a paper-based exam. Therefore, if you choose to purchase this text as an e-book, you will not be permitted to use it in a paper-based open book exam.
If the unit has an online supervised exam and you choose to sit the open book exam online go to une. The University of New England respects and acknowledges that its people, programs and facilities are built on land, and surrounded by a sense of belonging, both ancient and contemporary, of the world's oldest living culture. There is no scope for confusion as everyone knows the current value of one unit of a currency atleast they think they know!
Interest rate is the cost of borrowing money, which in turn is dependent upon the current demand of money in the economy. An exchange rate signifies the rate at which one currency will be exchanged for another. The two primary types of exchange rate systems are — fixed and floating.
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Fixed exchange rate system was mostly prevalent in the 19 th and 20 th centuries, and currencies were backed by gold in the good old days now it is not the case, read about fiat money. In floating exchange rate systems, the value of the currency is determined by the market forces, just like any other good. Simply put, inflation is the erosion in value of a currency, as its buying capacity diminishes over time.
There is no broad consensus upon the right rate of inflation in the economy, but majority believe that a slightly positive rate of inflation signifies growth and is best for the economy. Wild variation in inflation is the major source of headache for economists and can lead to a variety of problems in the economy: the saving sentiment of the populace erodes due to uncertainty in the value of deposits and the long-term investments may dry up due to significant risk associated with final returns.
During a phase of expansion, gross domestic product GDP rises and the unemployment rate falls. While recession has found its place in the pop culture and now usually means any downturn in the economy, the definition of recession usually requires the real GDP to decline for two consecutive quarters. There is no set consensus among the economists as to what decides the extent of these cycles, and the role government should play in influencing these cycles.
Lowering taxes and increasing spending usually provide the required stimulus to the economy during downturns. Some see this cycles as totally irregular phenomenon, while some believe that overall technological throughput of the economy drive these cycles.
There are three sub-categories of unemployment:. While a very low rate of unemployment is desirable, absolute zero unemployment is neither desirable nor practically possible.
The general relationship that exists between inflation and employment — higher the rate of employment, higher is the rate of inflation. Balancing it all does require some serious effort after all. GDP full-form: Gross domestic product. The ultimate goal of any economic growth is to translate into a higher standard of living, and measuring GDP per capita is an approximate way to do that.
A sweet side effect: it serves as a barometer to gauge the success or lack thereof of major economic policy changes. A gap exists between the potential GDP that an economy could generate through optimum utilization of labor and capital, and the actual GDP that is generated which is called the output gap.
Related Introductory macroeconomics
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