Syllabus 3.1
Marco Activity
Video 1: Macro Circular Flow of Income
Video 2: Welker: Measuring GDP
 Video 3 PPP: Basic                concept
Video 4: MJM - GDP
Video 5: MJM - Real GDP
Video 7: Stiglitz -  Problems with GDP Statistics
Video 8: BBC report on PPP - Big Mac Index
Video 9: Moniac -  how an economy does not work
9 Themes
Key concepts:
  1. scarcity
  2. choice
  3. efficiency
  4. equity
  5. economic well-being
  6. sustainability
  7. change
  8. interdependence
  9. intervention​
Dictionary:

2.1 Macroeconomic Activity

  1. business cycle
  2. circular flow of income
  3. closed economy
  4. expenditure flow
  5. GDP
  6. GDP deflator
  7. GNI
  8. GNP
  9. ‘green’ GDP
  10. growth
  11. income
  12. injection
  13. LDC
  14. Leakage
  15. macroeconomic model
  16. macroeconomics
  17. MDC
  18. national Income
  19. national income at market  prices
  20. national income statistics
  21. nominal national income/output
  22. open economy
  23. per capita income
  24. real national income/output
  25. value of output flow
  26. wealth
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