Revision Mind Map: External Economic Shocks

This is an important topic at A2 and you can also bring in useful ideas in AS macro papers too. A revision mind map is attached together with the original mind map for colleagues who might want to amend and develop further.

Notes to students:

All economies that are partof the global trading system are exposed to one or more exogenous shocks
They can be either demand or supply side
They can be positive or negative in terms of their impact on prices, output, jobs and living standards
It is important to be able to use AD-AS analysis to show some of the effects of shocks
Evaluation is key in these sorts of questions - how large is the shock? is it temporary or longer-lasting?
Consider how policy-makers can respond to shocks and understand the importance of economic flexibility in dealing with the aftermath

External_Economic_Shocks.pdf
Global_External_Economic_Shocks.mmap

Unit 2 Macro: How the Economic Cycle affects Businesses [6 Apr 2012]
Unit 2 Macro: Revision Quiz on the Economic Cycle [4 Jan 2012]
Study Note - Macroeconomic policy objectives [16 Sep 2011]
Unit 4 Macro: GDP per person since the credit crunch [19 Aug 2011]
Global Economy: Increased risk of future shocks [28 Jun 2011]
External shocks [7 Dec 2010]
An amusing introduction to the recession [1 Dec 2010]
Starter Activity - Economic Cycle in Pictures [14 Sep 2010]
AS Economics Revision - Managing the Economy [2 May 2010]
AS Economics Revision - Dissecting the Recession [1 May 2010]
A Turning Economic Cycle - Charts to Use [28 Feb 2010]
Lively articles on the fiscal stimulus debate [17 Feb 2010]
Inter-related economic risk map [18 Jan 2010]
After the summer of LUV [9 Nov 2009]
Classroom Activity - Economic Cycle in Pictures [20 Oct 2009]
The UK Economy - a Long Run Perspective [7 Oct 2009]
Six countries in recovery [24 Sep 2009]
Endogenous models of the economic cycle [13 Sep 2009]
More ‘Aftershock’ resources [12 Sep 2009]
Aggregate Demand and the UK Economic Cycle [17 Aug 2009]
GDP set to take 6 years to reach the last peak [23 Jul 2009]
Causes of a double-dip recession [19 Jul 2009]
Revision - External Shocks [24 May 2009]
AS Macro: US Economic Recession in Charts [7 Feb 2009]
Economic slowdown becomes steeper [29 Jul 2008]
Two heavyweights on the UK economy [19 Jun 2008]
Stephen King savages rigid inflation targets [31 Mar 2008]
Recession Watch: American Idle [7 Mar 2008]
UK Economy in Charts - March 2008 [7 Mar 2008]
Unemployment - In Charts [14 Feb 2008]
US Economy Chart Room [1 Feb 2008]

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