micro macro? monetary? what else? (1 Viewer)

[Haku]

could someone please list the types of policies there are and please do give a decription of that policy... ie: micro economic policies?

and what is microeconomic policies and what are macroeconomic policies?

 

[roadcone]

a general description would be that macroeconomic policies affect the economy as a whole, where as microeconomic reform/policies will be implemented in order to improve just a particular sector in the eco

 

[spirit21]

fiscal?....

 

[sk8ie_boi]

Fiscal policy is under Macroeconomic Policy as 'roadcone' mentions: it affect the ecnomy as a whole. Fiscal is the Federal budget which the government can have a surplus or defecit which will put more or less money into the circular flow and boost or decrease economic activity.

Under Macroeconomic Policy, there is also the Monetary Policy which basically is just the Interest Rates...

With Microeconomic Policy, the basic example is encouraging 'competition' in the market place.

 

[sunjet]

microeconomic reform is reform at the firm level, such as tariff cuts etc. macroeconomic reform will affect the whole economy, such as fiscal policy.
fiscal policy can aim at specific industries though, whereas monetary policy will affect the whole as well.

 

[underthebridge]

Four arms of macroeconomic policy:
Fiscal policy
Monetary policy
Trade Policy
Prices and Incomes Policy

the latter two arent really a part of Astralia's macroeconomic policy anymore as they are replaced by microeconomic policies such as labour market reforms.