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Category Archives: 2. Macroeconomics
(a) Using the concept of the natural rate of unemployment, explain the relationship between the long-run aggregate supply curve and the long-run Phillips curve. [10 marks] (b) Compare and contrast the policy implications of the short-run and long-run Phillips curves regarding … Continue reading
This is the link for today’s lesson.
G11 have just been introduced to the difference between classical and Keynesian views on macroeconomic growth. This video does a good job in explaining that difference, looking at it from a slightly different angle to the one we’ve taken in … Continue reading
As we start to look at for the first time with G11 and revise with G12 the difference between the Monetarist and Keynesian views on LRAS, in particular the existence of ‘sticky wages’, here is an interesting article from the … Continue reading
An Economics rap – not two words you expect in the same sentence.
Whilst I am away, you are to investigate and research the economy of a country. Please see this page to decide and allocate which group does which country. Investigation You are to research the macroeconomic condition of your country, paying … Continue reading
In today’s lesson we will be looking at how we calculate GDP, what the problems are with using GDP as a measure of performance and what alternatives we might be able to use instead. To help assess the problems with … Continue reading
Living in Japan, a common grumble amongst the expat community is how incredibly expensive everything is. “It’s so much cheaper back home!” is a cry often heard walking down Motomachi. But is it? Last year I wrote this post on … Continue reading
Following our recent discussions about government debt, and what is considered an appropriate level, below is an infographic from The Economist comparing the position of several countries over the last thirty years. It’s well worth playing around with.