AS Macroeconomics – National Economy in Global Context

This topic is examined in AS Paper 2 for AQA Economics. You can find notes for it below:

Measurement of Macroeconomic Performance

a) The objectives of government economic policy
b) Macroeconomic indicators
c) Uses of index numbers

How the Macroeconomy Works

a) The circular flow of income
b) Aggregate demand and aggregate supply analysis
c) The determinants of aggregate demand
d) Aggregate demand and the level of economic activity
e) Determinants of SRAS
f) Determinants of LRAS

Economic Performance

a) Economic growth and the economic cycle
b) Employment and unemployment
c) Inflation and deflation
d) The balance of payments on current account
e) Possible conflicts between macroeconomic policy objectives

Macroeconomic Policy

a) Monetary policy
b) Fiscal policy
c) Supply-side policies