You are on page 1of 3

ETAR

A. Measuring the Economy


1. Market value of all final goods and products
2. 2 major exclusion from computation of GDP
3. 3 subcategories of non-productive transaction
4. Equation of Nominal GDP
5. Equation of Real GDP
6. Equation of Price Index
7. Value at current price
8. Value at constant price
9. Why is there a nominal and real GDP?
10. 2 Approaches in the computation of GDP
11. 5 Components of Expenditure Approach
12. Expenditure by households on goods and services, other name (HFCE)
13. Expenditure by business, other name (GDCF)
14. Two main components of investment (fixed capital and changes in stock)
15. Expenditures of goods and services by the government (GFCE)
16. Expenditures on domestically produced (Export)
17. Expenditures on foreign goods and services (Import)
18. What is net import?
19. Net import is positive means? (trade surplus)
20. Net import is negative means? (trade deficit)
21. Broken down by regions using the expenditure of resident institutional sectors (GRDE)
22. Three major sectors (agricultural, industrial and service)
23. What is GRDE for?
24. GDP + abroad (GNI)
25. What is net primary income?
B. Business Cycle, Inflation and Unemployment
1. Biggest problems of a business cycle? (inflation and unemployment0
2. Diffusion of fluctuations in aggregate economic activities all over the economy (business
cycle)
3. Phases of business cycle
4. Turning point of recession (through)
5. Phase at full employment (peak)
6. 2 Basic categories-theories explaining business cycle (endogenous and exogenous)
7. Endogenous theories (SIRUM) (Self-generating, Innovation, Real Structure,
Underconsumption and Monetary)
8. What is unemployment?
9. 3 definitions to be officially unemployed
10. 5 reasons for not seeking work (BITAW)
11. Formula for unemployment rate
12. Formula for Labor force
13. Formula for Labor Force Participation rate
14. 2 types of unemployment (unavoidable and avoidable)
15. 3 subcategories under Unavoidable employment
16. Unemployment associated with the changes in the economy
17. Location and qualification of the labor force do not match the available jobs

18. Caused by recession phase


19. Unemployment due to insufficient demand for workers
20. Full employment rate of unemployment (natural rate of unemployment)
21. 2 Categories of underemployment
22. Definitions of underemployed
23. Okuns Law (2-3% movement in GDP, 1% change in unemployment)
24. What is inflation? Formula
25. Two kinds of inflation (headline and core)
26. Weight overall average prices
27. Rate of change in the CPI
28. 3 Causes of inflation (Demand Pull, Supply Shock, Profit Push)
29. Effects of Inflation-redistributive effects
30. Losers in Inflation (FiSCH)
31. Gainers (DeFP)
32. Decrease average price level (deflation)
33. Refers to period of extremely high inflation (hyperinflation)
34. What is stagflation?
C. International Economics
1. 5 Theoretical bases of International Trade
2. Thomas Munn-encourage exports, limit imports
3. Law of Absolute Advantage (Good producer-export, not so good-import)
4. Law of Comparative Advantage by David Ricardo
5. Hecksber-Oblin Theory or Factor proportions/endowment theory i-export yung medyo
abundant
6. Hecksber-Oblin-Samuelson Theorem
7. Types of Trade protections
8. Arguments for the imposition of Tariff Protection
9. Foreign exchange rate
10. Foreign exchange arbitrage
11. 4 Importance of exchange rate
12. When to say currency depreciation/appreciation?
13. When to say currency devaluation/appraisal?
14. What is floating exchange rate?
15. Manage float?
16. Dirty float?-currency artificially low
17. Two types of fixed exchange rates
18. Adjustable peg system
19. Crawling peg system
20. Balance of payments
21. 2 major categories of economic transactions
22. 2 approaches in BOP
23. Current account balance
24. Change in net International reserves
D. Monetary and Fiscal Policy
1. Central monetary authority
2. Main type of government macroeconomic policy that is define as the measure of actions
to be taken by the central bank
3. Three main pillars of BSP

4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.

Three monetary policy frameworks


Monetary Aggregate targeting
Interest Rate Targeting
Inflation Rate Targfeting
4 beyond control of BSP (PANO)
5 Monetary Policy Tools (SIRRO)
Special Deposit Account Facility
BSPs Policy Interest rates
Reserve requirement
Rediscount rate
Open Market Operations
Overnight repurchase rate
Overnight reverse repurchase rate
Expansionary Monetary policy
Contractionary Monetary policy
What is Fiscal Policy?
2 Types of fiscal policy
Unemployment-compensation payments
Automatic stabilizers
Discretionary
Components of Fiscal Policy
Three possible stance of fiscal policy
Neutral
Expansionary
Contractionary
Three major functions of fiscal policy
Stabilization
Distribution
Allocation

You might also like