This glossary with Macroeconomics (Blanchard) is written in 2013-2014.Chapter 1: A Tour of the World Outputlevel of production of economy as whole – and its growth rateUnemployment rateproportion of workers in economy who are not employed and are looking for jobsInflation raterate which average price of goods in economy is increasing over timeRecessiona decrease in outputProductivityoutput per hour worked (output per hour)Rate of Productivity Growthrate of growth of output per hourTrade Deficitdifference between imports and exportsChapter 2: A Tour of the Book First definition of GDPvalue of the final goods and services produced in the economy during a given periodSecond definition of GDPsum of value added in the economy during a given periodLabor Incomerevenues that go to pay workersCapital Income (Profit Income)the rest of the revenues that go to the firmThird definition of GDP sum of incomes in the economy during a given periodNominal GDPsum of the quantities of final goods produced multiplied by their current pricesReal GDPsum of quantities of final goods multiplied by constants (rather than current) pricesGDP Growthrate of growth of real GDPExpansionperiod of positive GDP growthRecessionperiod of negative GDP growthEmploymentnumber of people who have a jobUnemploymentnumber of people who don’t have a job but are looking for oneLabor Forcesum of employment and unemploymentLabor Force = Employment + UnemploymentL = N + UUnemployment Rateratio of number of people who are unemployed to the number people in the labor forceUnemployment Rate = Unemployment/Labor Forceu = U/LCurrent Population Survey (CPS)large survey of households to compute unemployment rateclassifies a person as unemployed if he or she does not have a job and has been looking for a job in the past four...

Deze samenvatting is gebaseerd op het studiejaar 2013-2014.

De samenvatting is hieronder als pdf te downloaden.

Deel 1: macro_deel_1.pdf

Deel 2: macro_deel_2.pdf

Deze samenvatting is gebaseerd op collegejaar 2012-2013.oefenpakket_macro-economie_1213.pdf...

Deze samenvatting is geschreven in collegejaar 2012-2013. Unemployment, inflation, stock markets, economic growth, interest rates and foreign exchange rates, these are subjects we hear about daily. Economic themes tend to dominate the news on television and newspapers.Macro economics is the study of these economy-wide phenomena. The study is useful because the movements in interest rates, rate of inflation and exchange rates for example affect the well-being of all consumers. Important measures of the economic well-being of a nation is its output and income. We will discuss the GDP, the gross domestic product in chapter two. In the long run we will look to the trend of the gross domestic product. In the short run we will see ups and downs fluctuations. These ups and downs are called business cycles. A lot of countries have an increasing GDP per capita. But some countries face serous setbacks, due to wars and famines. We will discuss reasons why economies grow or stagnate in chapter...