• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/7

Click to flip

7 Cards in this Set

  • Front
  • Back
Define Macroeconomics
study of the performance of the economy as a whole and policies used to improve the economies performance
Define Microeconomics
study of the behaviour of individual sectors of the economy e.g. firms
Relevance of Macroeconomics
Hint: 5 reasons
1. Describe, explain economic trends & events
2. Measure the level of economic welfare
3. Predict future trends in economic activity
4. Determine if the standard of living is improving over time
5. Develop & apply appropriate policies to improve economic performance
Define economic indicators
give an indication of the state of the economy at a particular point in time
- collection, summarising, presenting and interpreting economic stats
Leading Indicators
Define
Examples
Predict trends in economic activity & change before a direction becomes evident in the rest of the economy
Examples: business confidence
building approvals
share prices
consumer sentiment
share prices
employment vacancies
Coincident Indicators
Define
Examples
Appear to move in line with the level of economic activity
Examples:
retial sales
unemployment levels
interest rates
real GDP growth
sales of consumer durables
Lagging indicators
Define
Examples
Not expected to show any change until after trends have been confirmed in the rest of the economy
Examples:
consumer debt levels
savings
bank deposits