I. Economic Systems and Theories

Discover why stagflation, the combination of inflation and unemployment, poses a policy-making challenge and explore strategies to manage it.

Discover the key differences between public and private finance, focusing on budgeting, borrowing, and spending policies

Discover what money is, its various types, and its essential functions in modern economies, including as a medium of exchange and a store of value.

Discover the main components of national income and explore the methods of calculating it, such as product, expenditure, and income approaches.

Discover how the equilibrium price balances demand and supply, maximizing economic welfare through consumer and producer surplus.

Explore the Phillips Curve and its insights on the inverse relationship between unemployment and inflation. Learn its significance and policy implications.

Learn how multipliers quantify the additional effects of macroeconomic policies and understand their significance in economic analysis.

Understand inflation’s definition, types, causes, and effects. Learn how inflation impacts the economy and how it’s measured and controlled.

Discover how money moves in a two-sector economy through the circular flow of income model, involving business firms and households.