MACROECONOMICS STUDENT GUIDELINES
MACROECONOMICS STUDENT GUIDELINES
MACROECONOMICS STUDENT GUIDELINES
Acknowledgement
The authors express gratitude to all parties involved in the publication of the book, including the Commerce Department at Politeknik Tuanku Syed Sirajuddin, Perlis. They also thank friends, colleagues, and family members for their support. The module aims to benefit Polytechnic students by providing a clearer understanding of macroeconomics.
Preface
The book serves as a reference for Polytechnic diploma courses in business, accounting, and related fields. It covers essential economic concepts and the importance of government policies in addressing economic issues. The seven chapters in the book align with the Macroeconomics course syllabus for Malaysia Polytechnics, helping students grasp the impact of macroeconomic problems on the economy.
Contents
The book is divided into several chapters, each focusing on key aspects of macroeconomics. Chapter 1 introduces macroeconomics, covering goals, aggregate demand and supply, and the impact of the 4th Industrial Revolution. Chapter 2 delves into national income accounting, discussing GDP calculation and factors influencing national income. Chapter 3 explores national equilibrium determination for different economic sectors, introducing models like AD AS and injection-leakage. Chapter 4 addresses the role of government in economic objectives and policies such as fiscal and monetary policies. Chapter 5 focuses on unemployment and inflation, detailing their definitions, calculations, effects, and government policy interventions. Chapter 6 examines the money and banking system in Malaysia, explaining money's role in the economy and different categories of money supply. Chapter 7 discusses international trade concepts, including the differences between domestic and international trade, advantages, and absolute and comparative advantages.
