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Level 4 Diploma in Accounting and Business

Macroeconomic Fundamentals and the Circular Flow of Income

AB402 · Business and the Economic Environment — Week 6 of 16

CourseAB402
Week6 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Macroeconomic Fundamentals and the Circular Flow of Income

  1. Macroeconomic indicators including GDP, inflation and unemployment
  2. Circular flow in open economies
  3. Macroeconomic leakages and injections
  4. Interest rate and exchange rate dynamics
  5. Circular flow of income and expenditures | Macroeconomics | Khan Academy
  6. Lecture 22: Components of an Economy, Inflation, Unemployment, Debt
  7. Lecture 30: Functions of Foreign Exchange Market, Interest Rate, Relative Inflation Rate
  8. Economics 1 - 2014-10-20: Overview of Macroeconomics
  9. Economics 1 - 2014-10-27: Unemployment and Inflation

What you will be able to do

  • 3.1 Compare key macro-economic factors.
  • 3.3 Explain the term ‘circular flow of income.’

Activity

Start with this week’s 5 videos, then: Seminar, guided reading and a short written task: compare key macro-economic factors.

Study materials

Videos

  • Circular flow of income and expenditures | Macroeconomics | Khan Academy · YouTube · Saylor University · 9 min · for registered students
  • Y1 2) Circular Flow of Income & Measures of GDP · YouTube · EconplusDal · 8 min · for registered students
  • Inflation and Business | A-Level & IB Business · YouTube · tutor2u · 5 min · for registered students
  • Components of GDP | GDP: Measuring national income | Macroeconomics | Khan Academy · YouTube · Saylor University · 5 min · for registered students

Further resources

  • Introduction to Business 2e, ch. 1.4–1.6: Macroeconomics and microeconomics for business · PDF · OpenStax, textbook chapter; pp. 25–37 · for registered students
  • Principles of Economics 3e, ch. 19: The Macroeconomic Perspective · PDF · OpenStax, textbook chapter; pp. 463–492 · for registered students
  • Principles of Finance 2e, ch. 3: Economic Foundations: Money and Rates · PDF · OpenStax, textbook chapter; pp. 79–112 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: Business Classification and Sector Analysis
  • Week 2: Legal Structures and Business Ownership
  • Week 3: Organisational Structures and Financial Reporting Frameworks
  • Week 4: Stakeholder Analysis and the Internal Business Environment
  • Week 5: External Business Environment and Globalisation
  • Week 6: Macroeconomic Fundamentals and the Circular Flow of Income
  • Week 7: Aggregate Demand and Business Activity
  • Midterm: Midterm evaluation
  • Week 9: Microeconomic Factors and Elasticity Concepts
  • Week 10: Perfect Competition and Price Determination
  • Week 11: Imperfect Market Structures, Pricing and Output
  • Week 12: Applying Business and the Economic Environment in practice:…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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