Macroeconomics – The National & International Economy

This topic is examined in A-Level 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
d) Uses of national income data

How the Macroeconomy Works, Circular Flow of Income, AD/AS Analysis and Related Concepts

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) Possible conflicts between macroeconomic policy objectives

Financial Markets and Monetary Policy

a) The structure of financial markets and financial assets
b) Commercial banks and investment banks
c) Central banks and monetary policy
d) The regulation of the financial system

Fiscal and Supply Side Policies

a) Fiscal policy
b) Supply-side policies

The International Economy

a) Globalisation
b) Trade
c) The balance of payments
d) Exchange rate systems
e) Economic growth and development