Semester 1, 2017

ECON1002 Introductory Macroeconomics FULL SUMMARY NOTES (84 mark)

34 pages

17,058 words




These notes are are a summary of the course content for ECON1002: they summarise all the key points you need to know for the course. The notes also include diagrams, tables and examples to ease learning. They have been constructed using lecture notes, textbook notes, as well as content from the assigned readings.

The topics include;
- Output & prices
- Saving, investment and wealth
- Wages, employment and the labour market
- Short-term economic fluctuations
- Spending and output in the short run
- Fiscal policy
- The aggregate supply-aggregate demand (AS-AD) model
- Macroeconomic policy
- Money, prices and the reserve bank
- The reserve bank, monetary policy and the economy
- The economy in the long run; an introduction to economic growth
- The production function approach to understanding growth
- Saving, capital formation and comparative economic growth
- Exchange rates and the open economy
- The balance of payments: net exports and international capital flows

NB: summary pages not in order.