Macroeconomics

This topic is examined in A-Level Component 1, Component 2 and Component 3 for WJEC (England) Economics. You can find notes for it below:

Macroeconomic Theory

a) The circular flow of income model
b) The components of aggregate demand (AD)
c) The AD function
d) The aggregate supply (AS) function
e) Short run aggregate supply (SRAS)
f) Long run aggregate supply (LRAS)
g) AD-AS analysis
h) The short run Phillips curve
i) The long run Phillips curve

Macroeconomic Objectives

a) Government policy objectives
b) Economic growth
c) Unemployment
d) Inflation and deflation
e) The balance of payments

Policy Instruments

a) Fiscal policy
b) Monetary policy
c) The operation of monetary policy and monetary stability
d) Financial stability
e) Exchange rates and exchange rate policy
f) Supply side policies