1.

List the 4 macroeconomic goals and their sub goals

2. Define real GDP
3. Draw a graph explaining potential GDP in the long run
4. What is the GDP gap
5. List 4 price indices
6. Define any measure of openness
7. What is an exchange rate
8. Explain the meaning of devaluation and revaluation

1. Define the system of national accounting

2. Define value added
3. List the 3 main approaches used to measure GDP
4. Explain the problem of double accounting in measuring GDP by production
approach
5. How do we calculate disposable income from GDP
6. List components of primary income
7. Explain the difference between GND and GNS

1. What is economic policy

2. Explain the difference between automatic and discretionary measures
3. List 4 macroeconomic policies and their instruments
4. What determines aggregate supply and demand
5. Draw a graph presenting supply shock in the economy
6. Define macroeconomic stabilization
7. List some structural policies
8. What are the main characteristics of macroeconomic instruments
9. Explain how to achieve macroeconomic adjustment
10.Draw all examples of multipliers for the closed economy and provide short
interpretations

1. Draw the savings and consumption functions on one graph

2. Define MPC and MPS
3. List the main determinants of national consumption
4. Explain a dual role of investment in economics
5. List the main determinants of investment
6. What are the main assumptions of the multiplier model
7. Draw all the graphs for multipliers in a closed economy
8. How do we calculate change in production in the closed and open economy

1. List components of the main monetary aggregates (m1 and m2)

2. Explain speculative demand for money and portfolio theory
3. List determinants of interest rate
4. Define money supply multiplier
5. Graphs of demand pull and cost push inflation
6. Explain the economic impacts of inflation
7. Define frictional, structural, and cyclical unemployment
8. Define the okunal slope
9. Graphs of short and long run phillips curves
10.Define actual, structural and cyclical budget
11.Explain short run and long run effect of public debt
12.Explain and list the automatic and discretionary instruments of fiscal policy.

1. Define economic growth and economic development

2. Explain shortly the classical model of growth
3. Explain harrod domars model of growth
4. List the main critiques to the H- D model
5. Explain neoclassical production function
6. List the main 3 approaches to economic development
7. Define business cycle
8. Explain different phases of a business cycle
9. Graph of recession and expansion
10.List some endogenous and exogenous theories of business cycles
11.List 4 phases of the traditional approach to business cycles
12.List methods of forecasting of business cycles