ECO 102 PRINCIPLE AND THEORY OF ECONOMICS II

A) THE FIELD OF MACROECONOMICS

Introduction

Definition of Macroeconomics

Goals of Macroeconomics

The Distinction between Microeconomics and Macroeconomics

Introduction

The Difference between Microeconomics and Macroeconomics

Importance of Macroeconomics as a Separate Field of Study

Introduction

Importance of Macroeconomics

B) NATIONAL INCOME ACCOUNTING

Introduction

Concept of National Income

Importance of National Income Accounting

Approaches to Measuring GDP

National IncomeMeasurement Problems

The Circular Flow of Income

C) THEORY OF INCOME DETERMINATION

Introduction

Consumption

Consumption Function

Investment

Component of Investment

Determinants of Investment

D) INTERNATIONAL TRADE AND THEORIES OF INTERNATIONAL

Meaning of International Trade

Types of International Trade

Advantages of International Trade

Disadvantages of International Trade

Divisions of International Trade

Procures for International Trade

Trade Restriction

Tools or Instruments of Trade Restriction

The Principle of Absolute Advantage

The Theory of Comparative Cost Advantage

Assumption of the Principle of Comparative Cost Advantages

Advantages or Gains of Comparative Cost Advantage

Limitations of the Comparative Cost Advantage

Terms of Trade

Methods of Improving Terms of Trade

Export Promotion

Measures Taken by Government Towards Export Promotion

Terminologies in International Trade

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