The Economic Issues (1 Viewer)

[2700wrms]

Does anybody have a good set of notes, regarding the clear links between all the issues, as there is zero in the resource section which I'm suprised about because its critical.
Thanks

 

[gnrlies]

Does anybody have a good set of notes, regarding the clear links between all the issues, as there is zero in the resource section which I'm suprised about because its critical.
Thanks

Well many of them are linked. Some positively, some negatively.

For example:

Unemployment is dependant on growth
inflation can be affected by growth and unemployment (phillips curve)
excessive growth affects the environment
external instability limits sustainable economic growth

those are some examples but no doubt there are many more.

You said you think it is critical? I dont think it is critical. What is critical is understanding how the governments policy options have to weigh up a 'menu of outcomes' based on some of the trade offs mentioned above.

 

[2700wrms]

I will make my question clearer as it was quite bland. Sorry
There are 6 Economic issues.
All issues are linked both positively and negatively depending on the situation, in some way.
e.g. inflation and unemployment, when inflation is high (high growth) unemployment potentially should decrease (don't bring stagflation into this), but then once it reaches a certain point and contractionary policies are used unemployment will increase (Philips Curve relationship). So that is one point for inflation out of six.

So there realistically should be tonnes of points, through which my teachers says you need to know them like common knowledge - like being able to walk.

 

[gnrlies]

I will make my question clearer as it was quite bland. Sorry
There are 6 Economic issues.
All issues are linked both positively and negatively depending on the situation, in some way.
e.g. inflation and unemployment, when inflation is high (high growth) unemployment potentially should decrease (don't bring stagflation into this), but then once it reaches a certain point and contractionary policies are used unemployment will increase (Philips Curve relationship). So that is one point for inflation out of six.

So there realistically should be tonnes of points, through which my teachers says you need to know them like common knowledge - like being able to walk.

I dont quite get what you mean... You are either looking for something that doesn't exist, or trying to rote learn every single economic relationship that could possibly exist