Pag-Ikot Na Daloy Ng Ekonomiya

• Makroekonomiks is the study of the overall economy of a country
• It examines wide-ranging economic phenomena involving households, markets, and individuals
• Key concepts studied include unemployment, national income, gross domestic product (GDP), inflation, price levels, and gross national product (GNP)
• Describes:

  • Total income
  • GNP
  • GDP
  • General price levels
  • Labor
  • Production
  • Debt
• Objectives of macroeconomics:

  • Achieve high levels of production
  • Generate a high level of employment
  • Maintain price stability
  • Ensure balanced trade
• Challenges in macroeconomics:

  • Unemployment
  • Inflation
  • Foreign products being preferred
  • High exchange rates
• Studied topics include:

  • Inflation
  • GNP and GDP
  • National income or money
• National Economy refers to the state of an economy in a country
• It assesses if the needs of the people are being met and how to address them if not
• Participants in the circular flow of the economy:

  • Households: consumers who own production and use goods and services
  • Firms: producers who make goods, services, and pay households for the value of production
  • Government: collects taxes and provides public services and goods
  • Financial Institutions: receive savings and lend funds
• Open and Closed Economies:

  • Two perspectives in analyzing the national economy
  • Open Economy: participates in international trade
  • Closed Economy: does not engage in international trade
• Economic Models:

  • Representation of a concept or phenomenon
  • Provides a framework for analyzing the national economy
  • Describes the independence of all sectors of the economy
• Macroeconomics studies the overall economy of a country
• It analyzes broad economic phenomena affecting households, markets, and individuals
• Key concepts studied include: unemployment, national income, gross domestic product (GDP), inflation, price levels, and gross national product (GNP)
• Describes:

  • Total income
  • GNP
  • GDP
  • General price levels
  • Employment
  • Production
  • Debts
• Objectives of macroeconomics:

  • Achieve high levels of production
  • Generate many jobs or high employment
  • Maintain price stability
  • Ensure balanced trade
• Challenges in macroeconomics:

  • Unemployment
  • Inflation
  • Foreign products (increased preference for foreign products)
  • High exchange rates
• Studied topics include:

  • Inflation
  • GNP and GDP
  • National income or money
• National Economy:

  • Refers to the state of an economy in a country
  • Studies whether the needs of the people are being met, and if not, how to address them
• Participants in the circular flow of the economy:

  • Households: consumers who own production and use goods and services
  • Firms: producers who make goods, services, and pay households for the value of production
  • Government: collects taxes and provides public services and goods
  • Financial Institutions: receive savings and lend funds
• Open and Closed Economies:

  • Two perspectives in analyzing the national economy
  • Open Economy: engages in international trade
  • Closed Economy: does not engage in international trade
• Economic Models:

  • Representation of a concept or phenomenon
  • Provides a framework for analyzing the national economy
  • Describes the independence of all sectors of the economy