Fundamentals of Macroeconomic Policy

📋 Course Outline

1. Market and market types
2. Economic circuit and flows
3. National accounts and aggregates
4. Market regulation and competition
5. Inflation and price dynamics
6. Unemployment and labor market
7. Exchange rates and external balance
8. Monetary policy instruments
9. Budget policy and state intervention

📖 1. Market and market types

🔑 Key Concepts & Definitions

• Market : A market is a place where sellers and buyers carry out exchanges at a given price, either physically or via communication without physical contact.
• Offer : Offer is the quantity of a good that sellers are willing to sell at a given price.
• Demand : Demand is the quantity of a good that buyers are willing to buy at a given price.
• Market price : Market price is the value of goods expressed in money.
• Market for labor : The market for labor is where the labor force is exchanged for a remuneration.

📝 Essential Points