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Chapter 21 Business Cycle, Changes in the General Price Level and Unemployment
Data interpreting: Business cycle
Data interpreting: Inflation and deflation
Data interpreting: Employment figures
Maths Skills Developing: Proof: relationships among expected inflation rate, nominal interest rate and expected real interest rate
Maths Skills Developing: Proof: relationships among realised inflation rate, nominal interest rate and realised real interest rate
Maths Skills Developing: Percentage change: variables in the equation of exchange
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Chapter 22 Fiscal Policy and Monetary Policy
Data interpreting: Different tax structures/systems
Data interpreting: Composition of tax/government revenue components, public expenditure
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Chapter 23 International Trade
Maths Skills Developing: Reciprocal: opportunity cost of production
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Chapter 24 Trade Barriers
Graph drawing: Drawing the supply curve with tariff/quota
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Chapter 25 Balance of Payments Account and Exchange Rate
Data interpreting: Trade data of economies
Data interpreting: Information about the balance of payments of an economy
Data interpreting: Exchange rates on different dates