Economics, Grade 12, Unit 1, Fundamental Concept of Macroeconomics, Schools Thought in Macroeconomy
Автор: Ethiopia School
Загружено: 2025-08-14
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Dive into the core ideas of macroeconomics in this Grade 12 lesson! We explore the fundamental concepts that drive macroeconomic analysis and the major schools of thought that shape economic thinking today. By the end of this video, you’ll understand:
What macroeconomics studies: aggregate measures like GDP, unemployment, inflation, and fiscal/monetary policy
The key macroeconomic concepts: growth, business cycles, aggregate demand and supply, inflation vs. deflation, and long-run vs. short-run outcomes
The main schools of thought: Classical, Keynesian, Monetarist, and Modern/Neoclassical synthesis, including their views on policy and government intervention
How different schools explain economic stability, growth, and policy effectiveness
Real-world examples and how these theories apply to current economic issues
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