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Coogle of lecture 11 (Macro Economy (Indicator of macro economy (Per…
Coogle of lecture 11
Macro Economy
Concept
It means whole society
Difference between macro and micro economic
Macro economic
It means Whole society
Micro economic
It means individual society
Indicator of macro economy
Per capital income
Concept
Income of person in society
How we calculate?
By formula
Cost of living Allowance
It is federal or provincial subject
Provincial
Inflation
Concept
It means to increase
Inflation and market
Higher the inflation higher the product price
Example
If inflation increase by 2.5 so all the product increase by 2.5 in price
Macro economy frame work
Theories
Theory of employment
Give concept of % for country unemployment
Example
If 6% human capital and unemployed so this is stable condition
If higher the 6 so it is unstable
Theory of inflation
Theory of money
Regional economic
History of macro economic
Adam smith time
No concept of macro economic
Level of macro economy in world
Global macro economy
Last level of macro economy
Country level macro economy
In this different Provence economy come
Not only restrict to country only
Regional level economy
Comes after country level
Here we see the economy of different regions
History
1st world war and economy
Few employment
At low level
Need food not salary
John meyard kinz
Write book on America economy
tell impact of war and economy
Conclusion of micro economy
Determinant of micro economy
how consumer behave
How costing effect the market
How costing link with consumer behavior
How consumer and producer behave in context of demand supply curve
Prepared by Azaz Ahmed (1839124)