ECS2602 Exam Chapters Summaries

This brief summary covers the financial market. This chapter deals mainly with the demand and supply of money.

This summary deals with the IS-LM Model in economics. The relationships of this model with interest rate and output levels are discussed and key terms are identified.

This summary focuses on the labour market. The summary covers unemployment, wage and price determination, equilibrium in the labour market, and the natural rate of unemployment.

This summary focuses on the AS-AD model and the interaction between variables like interest rate, output and natural level of output within the model.

This summary delves deeper into the goods and financial markets, and explores these markets in an open economy.

This chapter summary characterises the equilibrium condition in the goods market for an open economy. The effects of domestic and foreign influences on domestic output and trade balance are identified. Additionally, the effects of a real depreciation on output and the trade balance is identified.

This summary deals with equilibrium in the financial market as well as foreign exchange market. Goods and financial market equilibrium are put together to determine output, the interest rate and the exchange rate. The roe of policy under fixed and flexible exchange rates. Important terms are identif...