Main topics in macroeconomics
- Balance of payments
- Budget deficit
- Economic growth
- Environmental economics
- Fiscal policy
- Exchange rates
- European Union
- The Euro
- Monetary policy
- International trade
- Supply-side policies
- Saving Ratio
- Macroeconomic objectives and conflicts
Macro Graphs and data
UK economic periods
- 1940s and 1950s – Austerity, rationing, war debt, but full employment, the new welfare state and rising living standards.
- 1960s – The ‘You’ve never had it so good era’ starts to unwind.
- 1970s – The Era of Discontent. Strikes, 3 day weeks, inflation, boom and bust. The 70s had everything except stability
- 1980s – Boom and Bust economy – The UK economy in the 1980s
- Late 1980s – The Lawson Boom. Rapid growth, inflation and recession
- 1990s – Recession and great stability – Recovering from the recession and leaving ERM
- The economics of the 2000s – from stability to financial crisis
- 1992-2007 – The great moderation – a period of economic growth between 1992 and 2007
- 2010-16 – The austerity years – The economic record of Cameron and Osborne.
Macro Economic Essays
- Discuss whether the primary macroeconomic target of the govt should be low inflation?
“The govt has given the MPC an inflation target of CPI 2.% +/-1. Therefore Monetary policy will be designed in order to achieve this goal…”
- Factors that might initiate and sustain a period of persistent inflation.“Inflation occurs when there is a continuous increase in the general price level as measured by the RPIX. There are various explanations for this..”
- What determines the Natural Rate of Unemployment
“The natural or (equilibrium) level of unemployment is determined by calculating the level of unemployment when the labour market is in equilibrium.”
- What Changes the Natural Rate of Unemployment
“The Natural rate is mainly composed of frictional and structural unemployment, therefore, factors that affect these types of unemployment will alter the natural rate.”
- Should Government Seek to Increase the Rate of Economic Growth?
Arguments for and against increasing the rate of economic growth
- Government Intervention in the Macro Economy