PPT-4 The macro economy Employment/unemployment,

The circular flow of income Difficulties involved in measuring unemployment Measuring unemployment seems at first easy just count up all those who are unemployed It is not however that simple Firstly . under-employment . from becoming structural. . G20 Task Force on Employment. Paris, 10-11 April 2014. Stefano Scarpetta,. Director. of . Employment, Labour and Social Affairs. OECD. Key challenges. Macroeconomic Concepts. SSEMA1 . The student will illustrate the means by which economic activity is measured. . a. Explain that overall levels of income, employment, and prices are determined by the spending and production decisions of households, businesses, government, and net exports. . It is not a theory given by single economist. Adam Smith. Ricardo. J B Say. Marx. Pigou. Classical Theory of Employment. Classical Theory. Classical Theory says, “ Full employment is a normal feature of a capitalist economy. By: Ben . Quick. SSEMA1a,b. The unemployment rate shows the percentage of unemployed people divided by the total number of people in the civilian labor force . The unemployment rate understates the unemployment rate because it does not include “discouraged” workers or people who are working part time because they cannot find full-time work. Kate Barker. Former member,. Bank of England Monetary Policy Committee. November 17. SW . Herts. CLP . The 1997 policy view. No . long-term. trade-off between inflation and unemployment. On average over the economic cycle – unemployment is determined by microeconomic policies: benefits, employment legislation, skills. 2. IS-MP. Y. Potential output = AF(K,L). Y. pot. u. Three key macro laws for the labor market. Okun’s Law: . unemployment moves inversely with Y (earlier in course). Beveridge Curve: . Unemployment moves inversely with vacancy rate (today). 20. Previously. Gross Domestic Product (GDP). The market value of all final goods and services produced in a specific period of time. . To find real GDP, we must adjust nominal GDP for inflation. Business cycle. , . and. . Wages. Chapter 8. © Dünhaupt, Dullien, Goodwin, Harris, Nelson, Roach, . Torras. Learning goals. After . today‘s. . lecture. , . you. . will . be. . able. . to. :. explain . how employment and unemployment are officially measured.. South African labour market . Hendrik van Broekhuizen. Research on Socio-Economic Policy. Stellenbosch University. 12 September 2013. Concepts, figures, and statistics in this presentation: . Primary. . Measuring the economy. Answer this question in at least 4 sentences:. How do you know if our economy is experiencing growth?. What do you know?. Can you define these terms?. Gross. Unemployment. Cyclical. The Macro-Economics of European Economies. MSc in Economic Policy Studies. John FitzGerald, February 2015. Course Outline. How does an economy work? JF . 16-1-2015. The genesis of macroeconomics . AM 23-1-2015. Macroeconomics a branch of economics dealing with the performance, structure, . behavior. , and decision-making of an economy as a whole, rather than individual markets. . The word is of Greek . origin: . i A COMPARATIVE STUDY WITH NEIGHBOR COUNTRIESSINDI DOCITerm ProjectSubmitted in Fulfillment ofRequirement for the Degree of Professional Master InBanking and Finance EPOKA UNIVERSITY2018iAPPROVAL PAGE Micro Economic- Meaning. Concept originate from the Greek word-Mikros means small part . Deals with small part of national economy. . Like individual producer, single firm, price of specific article or commodity..