AS Macroeconomics

This topic is examined in AS Component 1 and Component 2 for WJEC (England) Economics. You can find notes for it below:

Macroeconomic Theory

• a) The circular flow of income model
• b) The components of aggregate demand (AD)
• c) The AD function
• d) The aggregate supply (AS) function
• e) AD-AS analysis

Macroeconomic Objectives

• a) Government policy objectives

Policy Instruments

• a) Fiscal policy
• b) Monetary policy
• c) Exchange rates and exchange rate policy
• d) Supply side policies

International Trade

• a) Free trade and protectionism