Why does economic activity vary over timeand why does this matter?
Economic growth
Economic Growth (aisc)
Low unemployment
PPT Unemployment (aisc)
Low and stable rate of inflation
Inflation (aisc)
Deflation (aisc)
National Debt (HL only)
National Debt (aisc2)
Conflict between macro objectives (some HL only)
Policy Conflict (aisc)
Phillips Curve (aisc)
Theory of Knowledge connections
To what extent do political beliefs and ideologies influence a person’s preference for one school of macroeconomic thought over another?
It is often the case that two or more economists, observing an identical set of macroeconomic data (national income accounts, inflation, unemployment), arrive at very different explanations of events. How can this be accounted for? Could this occur in a natural science?
There are often conflicts between important macroeconomic objectives. What kind of knowledge criteria should policy makers use to make decisions in favour of pursuing one objective over another?