2.3. Macroeconomic Objectives

Syllabus Content

Low unemployment - The meaning of unemployment; Consequences of unemployment & Types and causes of unemployment
Low and stable rate of inflation - the meaning of inflation, disinflation and deflation; Consequences of inflation; Consequences of deflation; Types and causes of inflation; Possible relationships between unemployment and inflation (HL only)
Economic growth - the meaning of economic growth; causes of economic growth & consequences of economic growth
Equity in the distribution of income - The meaning of equity in the distribution of income; Indicators of income equality/inequality; poverty; The role of taxation in promoting equity; Other measures to promote equity & the relationship between equity and efficiency

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