Understanding Economics: Exploring Micro and Macro Concepts
Welcome to my first ever post! Starting today, I will be embarking on a journey to try and spread the knowledge about the world of economics. As a 16-year-old student who is undertaking their A-Levels, I want to share some of the knowledge I am getting and I am excited to share my knowledge and insights on micro and macro economics over the next year and a half.
Through this journey, we will delve into essential topics such as Individuals, Firms, Markets, and Market Failure. We will explore the fundamental concepts of supply and demand, market structures, and the consequences of government interventions. Together, we will develop a solid foundation in microeconomic principles.
In the second phase of our exploration, we will turn our attention to the macroeconomy. I will guide you through the intricacies of the circular flow of income, aggregate demand, and aggregate supply analysis. We will unravel the complexities of fiscal policy, monetary policy, inflation, unemployment, and their impact on the macroeconomic landscape.
Whether you are a student, a professional, or someone simply seeking to enhance your understanding of economics, this blog aims to provide valuable insights and practical knowledge. I encourage you to actively participate by sharing your suggestions and questions as we embark on this educational endeavor together.
Join me as we dive into the world of economics and unravel its mysteries. Stay tuned for regular updates on my blog, where we will explore various economic concepts and their real-world applications.
If you wish the take a look at what I will be going through, I will list them down below, but apart from that
Good luck!
MICRO
4.1 Individuals, frms, markets and market failure
4.1.2 Individual economic decision making
4.1.3 Price determination in a competitive market
4.1.4 Production, costs and revenue
4.1.5 Perfect competition, imperfectly competitive markets and
monopoly
4.1.6 The labour market
4.1.7 The distribution of income and wealth: poverty and inequality
4.1.8 The market mechanism, market failure and government
intervention
4.2.1 The measurement of macroeconomic performance
Macro
4.2.2 How the macroeconomy works: the circular flow of income,
aggregate demand/aggregate supply analysis and related concepts
4.2.3 Economic performance
4.2.5 Fiscal policy and supply-side policies
4.2.6 The international economy
Through this journey, we will delve into essential topics such as Individuals, Firms, Markets, and Market Failure. We will explore the fundamental concepts of supply and demand, market structures, and the consequences of government interventions. Together, we will develop a solid foundation in microeconomic principles.
In the second phase of our exploration, we will turn our attention to the macroeconomy. I will guide you through the intricacies of the circular flow of income, aggregate demand, and aggregate supply analysis. We will unravel the complexities of fiscal policy, monetary policy, inflation, unemployment, and their impact on the macroeconomic landscape.
Whether you are a student, a professional, or someone simply seeking to enhance your understanding of economics, this blog aims to provide valuable insights and practical knowledge. I encourage you to actively participate by sharing your suggestions and questions as we embark on this educational endeavor together.
Join me as we dive into the world of economics and unravel its mysteries. Stay tuned for regular updates on my blog, where we will explore various economic concepts and their real-world applications.
If you wish the take a look at what I will be going through, I will list them down below, but apart from that
Good luck!
MICRO
4.1 Individuals, frms, markets and market failure
4.1.2 Individual economic decision making
4.1.3 Price determination in a competitive market
4.1.4 Production, costs and revenue
4.1.5 Perfect competition, imperfectly competitive markets and
monopoly
4.1.6 The labour market
4.1.7 The distribution of income and wealth: poverty and inequality
4.1.8 The market mechanism, market failure and government
intervention
4.2.1 The measurement of macroeconomic performance
Macro
4.2.2 How the macroeconomy works: the circular flow of income,
aggregate demand/aggregate supply analysis and related concepts
4.2.3 Economic performance
4.2.5 Fiscal policy and supply-side policies
4.2.6 The international economy