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MACRO ECONOMIC, NUR AINI BINTI AHMAD, OBJECTIVE - Coggle Diagram
MACRO ECONOMIC
SOSIAL JUSTICE
aim to achieve spiritual salvation to human happiness
based on Al Quran and Al Hadith
no differences between rich and poor
no discrimination
EQUITABLE DISTRIBUTION OF INCOME
Islam insist of a powerfull built in income
social justice is rooted in man 's faith
UNIVERSAL EDUCATION
education is obligatory in Islam
equal oppurtunity
in Islam government must subsidize free education
OPTIMAL RATE ON ECONOMIC GROWTH
growth in islamic is comprehensive and includes the moral, spiritual, and material aspect
man is central to all economic activities
MAXIMIZATION OF EMPLOYMENT GENERATION
CONVENTIONAL PERSPECTIVE
TO ACHIEVE FULL EMPLOYMENT
refer to the level employment rate
no existence of cycle
involuntary unemployment
benefit
available resources can optimized
more output can produced
improved economic growth
other flip
cannot achieve that target
ACHIEVE PRICE STABILITY
cause by inflation
influences consumer purcahsing power
quantity goods and services less if inflation rate high
pensioners and fixed income earner too
benefit
avoid uncertainty
distruption in economy
consumer and business can safely pursue long term consumption
ACHIEVE ECONOMIC GROWTH
a nation who can achieve in economic growth will reflect positive economic perfomance
productive in term of output
increased in income
increase in labour productivity
business cycle
expansion
trough
peak
recession
ACHIEVE EQUITABLE DISTRIBUTION OF INCOME
necessary to ensure that the economic growth is shared equally
no gap between rich and poor
TO ACHIEVE EQUILIBRIUM IN FOREIGN SECTOR
economic transaction
imports and export
if country face BOP deficit that means the country have to borrow the money from other country
NUR AINI BINTI AHMAD
KBA246
2019423606
OBJECTIVE