Tài liệu, luận văn, đồ án, tiểu luận, đề tài về Khối Ngành Kinh Tế
Introduction Economics defined: Economic wants exceed productive capacity. A social science concerned with making optimal choices under conditions of scarcity.
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Trade Balances Imports: goods and services purchased from foreign sources. Exports: goods and services sold to foreign buyers. Imports and exports are seldom equal. The trade balance is the difference between exports and imports: Trade balance = Exports – Imports
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Macroeconomics: Policy Tools Policy tools for macroeconomics: Fiscal policy. Monetary policy. Supply-side policy.
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The Nature of Growth Economic growth refers to increases in the output of goods and services (real GDP) – an expansion of production possibilities. Improvements in output may result from: Increased use of existing capacity. OR Increases in that capacity itself.
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The Federal Reserve System The Federal Reserve System (the Fed) was created in 1913 as the central banking system of the United States. A central responsibility of the Federal Reserve is monetary policy: the use of money and credit controls to influence macroeconomic activity.
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Primitive economies had to resort to barter, a very inefficient method of trade. Barter first requires you to “want what the other person has” and the other person to “want what you have.” Once that is established, then the arguing about the terms of trade (how much of one for the other) begins.
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Fiscal Policy Fiscal policy is the use of government taxes and spending to alter macroeconomic outcomes. The premise of fiscal policy is that the aggregate demand (AD) for goods and services will not always be compatible with economic stability.
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Macro Outcomes Macroeconomics is the study of the aggregate economy Macro outcomes include: Output: the total volume of goods and services produced (real GDP). Jobs: the levels of employment and unemployment. Prices: the average prices of goods and services.
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Macroeconomics Macroeconomics is the study of aggregate economic behavior, of the economy as a whole. A basic purpose of macroeconomic theory is to explain the business cycle. Macro policy tries to control the business cycle.
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Laissez Faire Adam Smith coined the phrase laissez faire in the late 1700s as a doctrine of “leave it alone,” or nonintervention by government in the market mechanism. Adam Smith wanted to establish the presumption of market efficiency.
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