1. Brief Introduction on Central Bank Four Players in Money Supply Process Structure of Central Banks and the Federal Reserve System The Fed’s Balance Sheet
What is economics? Normative Definition Economics is the science that studies how to efficiently allocate economic resources Positive definition economics is the science that studies how an economy operates or how economic variables are
7.1 Fiscal policies and effects 7.2 Monetary policies and effects 7.3 Policy mix 7.4 Economic fluctuation and eliminating the fluctuations with economic policies 7.5 Macroeconomic policy practice