Macroeconomics Basics And Its Important Concepts
Tags: Macroeconomics
Macroeconomics basic concepts
Last updated 2022-01-10 | 3.7
- will know the basics of macroeconomics and multiplierWhat you'll learn
* Requirements
* Anyone who understand English languageDescription
In this course we discuss the reason to study macro economics, How it differs from Micro economics, the income approach to calculate GDP and the expenditure approach to calculate the same. We will also study some assumptions and hence derive the multiplier from all those concepts. The numerical derivation will help students to solve simple problems on the multiplier which I have also included in my assignments. In economics, a multiplier broadly refers to an economic factor that, when increased or changed, causes increases or changes in many other related economic variables. In terms of gross domestic product, the multiplier effect causes gains in total output to be greater than the change in spending. In economics, a multiplier broadly refers to an economic factor that, when increased or changed, causes increases or changes in many other related economic variables. In terms of gross domestic product, the multiplier effect causes gains in total output to be greater than the change in spending that caused it. One popular multiplier theory and its equations were created by British economist John Maynard Keynes. Keynes believed that any injection of government spending created a proportional increase in overall income for the population, since the extra spending would carry through the economy. In his 1936 book, "The General Theory of Employment, Interest, and Money," Keynes wrote the following equation to describe the relationship between income (Y), consumption (C) and investment (I)
Who this course is for:
- People who are basically unaware how an economy functions,earns and multiplies its funds
Course content
5 sections • 10 lectures
Meaning of Macroeconomics ,Microeconomics and the term Gross Domestic product Preview 05:54
Macroeconomics
Differences between Macroeconomics and Microeconomics
Income approach to calculate National Income and understanding related terms Preview 08:58
Revising Income approach
Revising the rules through a practical problem
Understanding Expenditure Approach to National income Accounting Preview 14:21
Expenditure Approach to National Income
Understanding the Expenditure Approach
Expenditure approach to National income and the Multiplier Preview 35:57
Numerical on expenditure approach
Calculation of Equilibrium output,multiplier and other components using expenditure approach