Blog
A to Z of AS Macroeconomics!
14th March 2008
Teaching at 5.30pm on a Friday afternoon as the fag end of term approaches isn’t great fun but after a successful SWOT analysis of the UK economy yesterday, I set my AS macro group a half hour challenge today - to produce an A to Z of macroeconomics as a prelude to their revision. Working in pairs, they tried to assemble twenty-six entries - it could be a concept, an issue in the news or perhaps a well known economist - anything so long as it had amacroeconomic connection! Similar to the game of Scattegories, teams only scored a mark when their answer was unique within the class.
Double points could be scored for suggestions such as Ben Bernanke, price pressures or credit crunch. Three marks for purchasing power parity! This led to some very creative and quirky answers.
Anyway ... here is a potted (albeit incomplete) summary of the responses. My job over the weekend is to produce a word document that provides a web link to a newpaper or BBC news story for each of them - so that they can access some articles linked to their suggestions whenever they want to. Can blog users suggest other entries? I am happy to email the word file over if you want to try this exercise before the end of term!
A AD Agflation Ageing Population Aggregate Supply
B Ben Bernanke Base rates Bank of England Boom and Bust
C Clean technology Commodities Credit Crunch CPI
D Demand-pull Inf Disinflation Deflation Depression
E Exports Euro Zone Expectations Employment
F Fiscal Policy FDI Frictional Unemp Futures Markets
G Going forward GDP GNP Govt spending
H Harmonised taxes Hot money House prices Hyperinflation
I Investment Inflation Injection Import
J Jim O’Neill
K Keynesian eco
L Leakages LRAS Labour force London Stock Market
M Mervyn King MPC Multiplier effect
N Neuroeconomics Net property income Nationalisation National insurance
O OPEC Oil Oligopoly Output Gap OECD Outsourcing
P Productivity paradox Purchasing Power Price index Perfect storm
Q Quota Quality of labour
R RPI Recession Ricardo Renembi
S Super spikes / stagflation Savings ratio Sovereign Wealth Supply-side
T Tax Trend growth Trough Trade deficit
U Unemployment Urbanisation
V Volatility Vocational training VAT
W Wealth effect Wage price spiral Weak dollar Wikinomics
X X-M X-Inefficiency Xenophobia
Y Per capita Y Yen Yield Yuan
Z Zimbabwe Zero inflation Zero sum game
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.