This class was created by Brainscape user Caroline Steffensen. Visit their profile to learn more about the creator.
Flashcard maker:
Caroline Steffensen
- decks
- flashcards
- learners
Decks in this class (7)
Closed Economy: The Goods Market (topic 2)
Interaction between demand, production, and income (how does fiscal policy affect output?)
Equilibrium can be:
o Production = demand
o Investment = saving
32
cards
Closed Economy: The Financial Market (topic 3)
Focus: equilibrium in financial markets and determination of the interest rate (how does monetary policy determine the interest rate?)
30
cards
Closed Economy: Extended IS-LM model (topic 4+5)
Focus: what determines output and the interest rate in the short run and what are the roles of fiscal- and monetary policy?
Extension of the IS-LM model (explaining what happened during the financial crisis)
30
cards
IS-LM in open economy (topic 6)
Focus: domestic vs foreign goods and assets?
Output depends on both domestic and foreign demand.
Effects of fiscal and monetary policies depend on the exchange rate regime.
31
cards
Inflation and unemployment (topic 7)
Focus: the natural rate of unemployment is the rate at which the wage demands of workers are consistent with the price decisions of firms.
Medium run.
Low unemployment puts upward pressure on inflation, but the form of the relation depends on how people and firms form expectations.
17
cards
IS-LM-PC (topic 8)
Focus: short run = demand determines output medium run = policy makes output return to potential
13
cards
Exchange rate regimes - short + medium run (topic 9)
Focus: interactions between a country and the rest of the world considering the medium run price fluctuations
Prices affect the real exchange rate i.e., when the economy is above or below its natural level, prices tend to increase/decrease and these fluctuations will push the exchange rate up/down affects net exports and output.
12
cards
More about
Macroeconomics and European Economic Integration
- School Unspecified
- Program type Unspecified
- Course Unspecified
- Instructor Unspecified
- Standards Unspecified
The creator of this class did not yet add a description for what is included in this class.
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer.
Looking for something else?
Integrated Physiology
- 23 decks
- 1694 flashcards
- 10 learners
Decks:
Exam 1 Chapters 1 5, Exam 1 Chapter 6, Exam 1 Chapter 7, And more!
Economics- Macro
- 21 decks
- 422 flashcards
- 1 learners
Decks:
Objectives Of Government Economic Policy, Economic Growth, Full Employment Or Low Level Of Unemploy, And more!
