Year 1 Macro
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Unit 2 Macro: Effectiveness of Macro Policies

Unit 2 Macro: Effectiveness of Macro Policies | Year 1 Macro | Scoop.it
We have considered the three key areas of macroeconomic policy – monetary policy, fiscal policy and supply-side policies.In the longest essay questions on data response papers examiners often ask students to consider how effective these are when they are used to manage the economy. How can we judge whether the.
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Fiscal Policy: Portugal to slash 30,000 public sector jobs and raise retirement age

Fiscal Policy: Portugal to slash 30,000 public sector jobs and raise retirement age | Year 1 Macro | Scoop.it
Portugal's prime minister has announced that the government plans to slash 30,000 public sector jobs as part of a sweeping package of spending cuts to satisfy international creditors.
Matt Smith's insight:

A good example of Contractionary Fiscal Policy. Think of the impact on Growth, Unemployment, Consumption and the Budget Deficit.

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IMF Inflicts 'Double Blow' On George Osborne

IMF Inflicts 'Double Blow' On George Osborne | Year 1 Macro | Scoop.it

George Osborne's spending cuts are called into question by the International Monetary Fund as it downgrades UK growth forecasts.

 

The International Monetary Fund's chief economist also said that the Chancellor should have changed his austerity strategy at the Budget last month.

Matt Smith's insight:

Watch the clip of what is said. Have a look at the growth forcasts updated for a number of countries.

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Monetary Policy in action: India cuts rates to spur growth

Monetary Policy in action: India cuts rates to spur growth | Year 1 Macro | Scoop.it
India cuts its main interest rate for the second time in three months as it looks to revive its sluggish economic growth.
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Fotheringham's curator insight, March 19, 2013 4:06 AM

Growth.  Always growth...

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Supply Side Policy: Parents 'to get 20% childcare costs'

Supply Side Policy: Parents 'to get 20% childcare costs' | Year 1 Macro | Scoop.it
The government is to announce parents will be able to claim back up to 20% of childcare costs from 2015.
Matt Smith's insight:

Think how this will encourage more people to go back to work and so increase the productive capacity of the economy. LRAS will shift to the right.

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Notes: Supply-side Economic Policies

Notes: Supply-side Economic Policies | Year 1 Macro | Scoop.it
Supply-side Economic Policies
Matt Smith's insight:

Good clear notes on Supply Side Policies.

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Bank of England | Monetary Policy | Quantitative Easing Explained

Bank of England | Monetary Policy | Quantitative Easing Explained | Year 1 Macro | Scoop.it
Matt Smith's insight:

Lots of videos here that explain Monetary Policy.

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What policies are needed for growth?: Will the UK's latest GDP figures affect economic policy? - video

Economics correspondent Phillip Inman discusses the figures and the pressure now on chancellor George Osborne to consider a 'plan B' to stimulate growth
Matt Smith's insight:

A nice 2 minute video outlining the policy options to stimulate economic growth.

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Supply Side Policy ideas: Treasury needs more 'innovation'

Supply Side Policy ideas: Treasury needs more 'innovation' | Year 1 Macro | Scoop.it
The UK economy will see "sluggish growth" for two years, unless the Treasury and Bank of England adapt a more innovative approach to boosting expansion, a study has said.
Matt Smith's insight:

Interesting ways to boost growth. Can you pick out the Supply Side Policies?

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Budget 2014: a boost for childcare is a bonus for the whole economy

Budget 2014: a boost for childcare is a bonus for the whole economy | Year 1 Macro | Scoop.it
Helping mothers back to work gets them off benefits and paying taxes – a net gain that could be worth up to £1.5bn a year
Matt Smith's insight:

Great example of a Supply Side Policy as it encourages people back into work and so increases LRAS.

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How does Quantitative Easing affect the Exchange Rate?

Although A level specifications have not changed for some years the introduction of quantitative easing (QE) programmes by central banks such as the Bank of England and the Federal Reserve in the US has meant that A level students have had to learn about this type of government intervention"


Via Mrs Wickson
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Mrs Wickson's curator insight, December 11, 2013 2:29 PM

A short article well worth reading!

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Monetary Policy in action: ECB cuts interest rates to new low

Monetary Policy in action: ECB cuts interest rates to new low | Year 1 Macro | Scoop.it
The European Central Bank cuts its benchmark interest rate to a new record low of 0.5% amid ongoing worries about the eurozone's economic health.
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Supply Side Policy: Tax changes will 'make work pay'

Supply Side Policy: Tax changes will 'make work pay' | Year 1 Macro | Scoop.it
Chief Secretary to the Treasury Danny Alexander says income tax changes that have come into effect will help make work pay.
Matt Smith's insight:

Raising The Tax Threshold is agoodstart example of  a Supply Side Policy. It acts as an incentive to people and should increase the number of people willing to work. The Government are also reducing benefits to "make work pay". However, the article highlights issues with this. Always think about winners and losers.

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Supply Side Problem: Shortage of science graduates will thwart manufacturing-based recovery

Supply Side Problem: Shortage of science graduates will thwart manufacturing-based recovery | Year 1 Macro | Scoop.it

Dare the diagram


Via Phil Hensman
Matt Smith's insight:

Think about how this will effect the LRAS.

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Supply Side Policy: Welfare-to-work scheme 'is failing'

Supply Side Policy: Welfare-to-work scheme 'is failing' | Year 1 Macro | Scoop.it
The government's multi-billion-pound programme to help the long-term unemployed back into work is branded "extremely poor" by MPs.
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What is Fiscal Policy.

What is Fiscal Policy. | Year 1 Macro | Scoop.it
Managing the Economy – Government Fiscal Policy
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Clear notes on Fiscal Policy.

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Monetary Policy and QE: Bank chief outvoted on stimulus move

Monetary Policy and QE: Bank chief outvoted on stimulus move | Year 1 Macro | Scoop.it
Bank of England governor Sir Mervyn King backed more action to boost the economy earlier this month, but was outvoted by his colleagues.
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Supply Side Policy: Nursery ratios raised to cut fees

Supply Side Policy: Nursery ratios raised to cut fees | Year 1 Macro | Scoop.it
The government announces plans to relax the official child to adult ratios in nurseries and other childcare settings.
Matt Smith's insight:

Cost of childcareof is a major preventer of people being able to go back to work.

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Supply-Side Policies: Notes

Supply-Side Policies: Notes | Year 1 Macro | Scoop.it
Supply-side Economic Policies
Matt Smith's insight:

Comprehensive notes on Supply Side Policies.

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