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Developments in the UK
Geoff Riley, December 2012…read more

Slide 2

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Exam success is
not a lottery!
Know your
Get the
Show current
awareness…read more

Slide 3

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AS Macro Essentials
· Determinants of macro performance
­ Understanding AD-AS analysis / changes in AD and AS
­ Using this analysis to explore recent and current
developments and policies e.g. Recession and
· Analysing and critically evaluating a range of
macroeconomic policies (e.g. MP, FP and SS-P)
­ How do policies work? The transmission mechanism
­ What are the limitations / constraints of each policy?…read more

Slide 4

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Macro Essentials (2)
· Understanding the external environment and
how it impacts on the British economy (e.g.
Events in Europe, the effects of globalisation)
· Being aware of how the different macro
topics link together
­ e.g. Inflation and unemployment, growth and
trade, productivity and investment
· Key is to show the examiner that you know
what is actually happening in the UK economy…read more

Slide 5

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Macroeconomic performance and stability
· Domestic objectives:
­ GDP: Real economic growth (short and long term)
­ CPI: Price stability (low stable positive inflation)
­ Jobs: Achieving higher employment / less unemployment
­ Higher living standards (i.e. GDP per capita and other measures
of well-being and social welfare, addressing inequality issues)
· External objectives
­ Sustainable position on the current account of the BoP
­ Improving competitiveness in global markets
· Restoring economic stability
­ Absorbing domestic and external economic shocks
­ Putting in place effective policies for stronger growth
­ Re-balancing the economy away from debt-fuelled consumption…read more

Slide 6

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Key Issue: Can the UK be re-balanced?
ment Balanced
The government wants
Achieving this looks
higher exports and
harder than the coalition
investment to kick-start a
"balanced recovery"…read more

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