Macroeconomics - GDP, Inflation, and Economic Growth
Description
Macroeconomics - GDP, Inflation, and Economic Growth encompasses the study of aggregate economic phenomena affecting entire economies. The subject covers Gross Domestic Product (GDP) as the primary measure of national economic output, inflation reflecting changes in average price levels, unemployment representing joblessness in the economy, and economic growth showing the expansion of productive capacity over time. Learners will understand how these macroeconomic indicators reveal overall economic health and how government policies influence them. The subject examines monetary and fiscal policies governments use to manage economic performance, the role of central banks, and international economic relationships. Understanding macroeconomics is essential for comprehending national economic performance and policy decisions.
Learning Objectives
Upon completing this subject, learners will be able to understand GDP and its measurement methods. They will analyze inflation and its economic impacts. Learners will understand unemployment and its types. They will evaluate how macroeconomic indicators relate to each other. Learners will understand monetary and fiscal policies and their effects on the economy. They will analyze the role of central banks in economic management. Finally, learners will synthesize information to understand how governments use macroeconomic policy to pursue economic objectives including growth, price stability, and full employment.