Essentials of Macroeconomics

Peter Jochumzen Essentials of Macroeconomics Download free ebooks at bookboon.com 2 Essentials of Macroeconomics © 2010 Peter Jochumzen & Ventus Publishing ApS ISBN 978-87-7681-558-5 Download free ebooks at bookboon.com 3 Essentials of Macroeconomics Contents Contents 1. Prices and inflation 13 1.1. Prices and price level 13 1.1.1. Price level 13 1.1.2. Price level and time 13 1.1.3. Price index 14 1.1.4. Consumer Price Index, CPI 15 1.1.5. Problems with CPI 15 1.2. Inflation 16 1.2.1. Definition 16 1.2.2. Inflation in Germany 16 1.2.3. Inflation in Sweden 17 2. Exchange rate 19 2.1. Definition 19 2.2. Exchange rate systems 19 2.3. Changes in the exchange rate 20 2.4. The euro against the US dollar 21 2.5. Effective exchange rate 21 3. Gross domestic product 22 3.1. Definition 22 3.2. Real GDP 22 Fast-track r Masters in Management London Business School Regent’s Park London NW1 4SA United Kingdom Tel +44 (0)20 7000 7573 Email mim@london.edu www.london.edu/mim/ Stand out from the crowd Designed for graduates with less than one year of full-time postgraduate work experience, London Business School’s Masters in Management will expand your thinking and provide you with the foundations for a successful career in business. The programme is developed in consultation with recruiters to provide you with the key skills that top employers demand. Through 11 months of full-time study, you will gain the business knowledge and capabilities to increase your career choices and stand out from the crowd. Applications are now open for entry in September 2011. For more information visit www.london.edu/mim/ email mim@london.edu or call +44 (0)20 7000 7573 Download free ebooks at bookboon.com 4 Essentials of Macroeconomics Contents 3.3. Growth 22 3.4. Purchasing power 23 3.5. GDP is a flow! 23 4. The components of GDP 24 4.1. The circular flow – simple version 24 4.2. The circular flow – a more detailed version 25 4.3. Modeling a firm and the concept value added 25 4.4. Firms in the circular flow 26 4.5. Circular flow – circulation of goods 28 4.6. Circular flow – circulation of money 29 4.7. Private sector in the circular flow 29 4.8. The Government, Rest of the World and the financial markets 30 4.9. Components of GDP 31 4.10. Four different measures of GDP 31 4.11. Capital 32 4.12. Investment 32 4.13. Components of GDP in numbers 200x 33 5. The Labor Market 34 5.1. Introduction 34 5.2. Uneployment classification 34 5.3. Full employment 35 5.4. Wages 36 5.4.1. Nominal wages 36 You’re full of energy and ideas. And that’s just what we are looking for. Looking for a career where your ideas could really make a difference? UBS’s Graduate Programme and internships are a chance for you to experience for yourself what it’s like to be part of a global team that rewards your input and believes in succeeding together. Wherever you are in your academic career, make your future a part of ours by visiting www.ubs.com/graduates. www.ubs.com/graduates Download free ebooks at bookboon.com 5 ... - tailieumienphi.vn