The groundwork for a module on macroeconomics is established in this case by introducing definitions and notions which will be revisited in following technical notes.
The note begins by introducing the elements of GDP and also national income accounting, and by discussing economists care about GDP. It then further discusses how the determinants of the elements of GDP coordinate in the marketplace, and how we can assume GDP and interest rates throughout the lens of a model-a framework that maps assumptions into results.
The case note familiarize the students to rudimentary economic modelling by explaining theses through examples of the way to determine endogenous variables from the system of equations and exogenous variables. The note comes to an end by listing some of the premises that we will keep in subsequent technical notes and by discussing the purpose of premises in macroeconomics.
PUBLICATION DATE: September 02, 2014 PRODUCT #: UV6845-HCB-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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