IB Economics 3.6.1: Fiscal Policy (Government Gaps, Strengths & Crowding Out)

Описание: How do governments use taxing and spending to manage the economy? In this IB DP Economics Unit 3.6.1 lesson, we explore Fiscal Policy. We break down government revenue sources vs. expenditure types (current, capital, transfers) and master expansionary and contractionary AD-AS diagrams. For HL students, we dive deep into the constraints of crowding out and the mechanics of automatic stabilizers.

00:00 - Intro
00:34 - Explain fiscal policy and distinguish between sources of revenue and expenditures
05:21 - Explain the goals of fiscal policy
09:05 - Explain and evaluate expansionary and contractionary fiscal policies to close inflationary and deflationary / recessionary gaps
11:45 - Discuss constraints on fiscal policy including political pressures, time lags, sustainable debt
14:50 - Discuss strengths of fiscal policy including the ability to target specific sectors, effectiveness of government spending in deep recessions
16:51 - Evaluate fiscal policy with respect to promoting low unemployment, low and stable rate of inflation, and growth
20:45 - (HL) Discuss the constraints of crowding out and draw a diagram illustrating it
23:27 - (HL) Discuss automatic stabilizers:
unemployment benefits
progressive taxes

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IBEconomics, Macroeconomics, Fiscal Policy, Expansionary Fiscal Policy, Contractionary Fiscal Policy, Government Spending, Taxation, Crowding Out, Automatic Stabilizers, Budget Deficit, Capital Expenditure, Transfer Payments, AD-AS Model, Keynesian Economics, IB Economics Unit 3.6.1, HL Economics, Kevin Means Business