London School of Economics EC102 intermediate

EC102: Macroeconomics

Free study notes for EC102 (EC 102) — Macroeconomics at London School of Economics, one topic at a time, each with worked examples and a practice quiz.

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Course Syllabus

  1. Introduction to Macroeconomics and Measurement
  2. Aggregate Demand and Aggregate Supply
  3. The Open Economy: International Trade and Finance
  4. Money, Banking, and Monetary Policy
  5. Fiscal Policy and Government Debt
  6. Economic Growth and Stability

Study Notes

Aggregate Demand and Aggregate Supply

Aggregate Demand (AD) and Aggregate Supply (AS) are fundamental concepts in macroeconomics that help us understand how an economy functions at a national level. They're like the supply and demand curves you've seen for individual products, but scaled up to represent the entire economy.

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The Open Economy: International Trade and Finance

In an open economy, a country interacts with other countries in two main ways:
1. Trade in goods and services: This involves importing and exporting goods and services.
2. Trade in financial assets: This involves buying and selling stocks, bonds, and other financial instruments across borders.

Let's break down the key components:

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Economic Growth and Stability

Economic growth refers to the increase in the production of economic goods and services, compared from one period of time to another. It's usually measured as the percentage increase in real GDP (Gross Domestic Product). Real GDP accounts for inflation, giving us a true picture of output growth.

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EC102: common questions

What does EC102 cover?

This EC102 study guide covers 6 topics: Introduction to Macroeconomics and Measurement, Aggregate Demand and Aggregate Supply, The Open Economy: International Trade and Finance, Money, Banking, and Monetary Policy, Fiscal Policy and Government Debt, Economic Growth and Stability.

Are these EC102 notes free?

Yes. Every EC102 note on this page is free to read without an account. A free account adds practice quizzes, flashcards and a revision plan.

How do I revise for my EC102 exam?

Read the EC102 note for each topic, then take its practice quiz: the questions you get wrong come back as flashcards until you know them. Save the course to get a revision plan built around your exam date.