This topic is examined in A-Level Component 1, Component 2 and Component 3 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) Short run aggregate supply (SRAS)
- f) Long run aggregate supply (LRAS)
- g) AD-AS analysis
- h) The short run Phillips curve
- i) The long run Phillips curve
Macroeconomic Objectives
- a) Government policy objectives
- b) Economic growth
- c) Unemployment
- d) Inflation and deflation
- e) The balance of payments
