Economics B – Macro Economics

Economics B - Macro Economics covers the following topics:

Define the measures of economic output
Compare the production of one country with another
Analyse the flow of national income
Discuss the propensities to save and consume
Describe the multiplier effect
Describe controls on level of investment
Discuss government economic objectives
Describe and evaluate the aims of government
Explain booms and recessions
Discuss disturbances in the economy
Discuss the consumer price index (CPI)
Discuss the causes and effects of inflation
Discuss the dynamic patterns and levels of employment
Distinguish between the types of employment
Discuss the causes and effects of unemployment
Discuss living standards and the concept of growth
Explain the uses and limitations of national GDP statistics
Define the reasons for disparities in living standards between developed and developing countries
Discuss the size and structure of populations in developed and developing economies
Evaluate the factors and policies that effects population growth
Evaluate the economic effects of changes in population distribution and increasing urbanisation
Explain the relationship between population dynamics and other economic behaviours
Describe the benefits of international specialisation
Describe exports and imports between countries
Describe and evaluate the structure of the balance of payments
Discuss fiscal policy and Government debt
Discuss the types of taxation operant in South Africa
Explain exchange rates and their fluctuation, and exchange control
Discuss the relationship between free trade and protectionism
Discuss the role of International Financial Institutions, International Monetary Fund and World Bank
Discuss key areas of macroeconomics relative to the South African economy