3. Unit 4 part 1 The economic cycle and economic growth Use of
national income data to assess living standards Inflation and
deflation Unemployment
4. Objectives Review key macroeconomic terms Revise the
economic cycle and the impact of the different stages Understand
the step up to A2
5. Key Macroeconomic terms Economic growth Increases in
national output over time, often measured by changes in GDP
Potential economic growth Growth in the productive potential of an
economy Actual economic growth The extent to which economies grow
to their potential
6. Objectives Review key macroeconomic terms Revise the
economic cycle and the impact of the different stages Understand
the step up to A2
7. How would you show growth? C A B PPB 1 PPB 2
8. What would you expect to see over time? PPB 1 PPB 2 PPB 3
PPB 4 Will this be smooth, even, growth?
9. How can you represent this growth?
10. What is associated with the different periods of the
economic cycle?
11. Objectives Review key macroeconomic terms Revise the
economic cycle and the impact of the different stages Understand
the step up to A2
12. Building on AS For AS, you were expected to learn about:
The different phases of the economic cycle The causes of the
changes in the economic cycle What is meant by economic growth The
difference between short and long term growth Factors that
influence the long-run trend rate of growth
13. Stepping up to A2 The focus on A2 is on: Being more precise
about the different stages of the economic cycle Analysing and
evaluating possible explanations of the different phases of the
economic cycle Evaluating the causes and effects of economic growth
in more detail Analysing the costs and benefits of economic growth,
especially in relation to environmental issues and its effects on
individuals and the economy Understanding the possible consequences
of inflation and unemployment in greater detail
14. Objectives Review key macroeconomic terms Revise the
economic cycle and the impact of the different stages Understand
the step up to A2
15. Lesson 2
16. Countdown 1. Draw a PPB (correctly labelled) 2. Mark a
point where there are unused resources 3. Mark a point of
productive efficiency 4. Mark a point of potential growth 5. Show
actual economic growth 6. Show an output gap
17. Objectives Quick review of PPB curves Be able to explain
each phase of the economic cycle Analyse and evaluate the causes of
changes in the economic cycle
18. In target: the economic cycle End
19. Objectives Quick review of PPB curves Be able to explain
each phase of the economic cycle Analyse and evaluate the causes of
changes in the economic cycle
20. What are the causes of the economic cycle?
21. Over to you. Look at your UK GDP growth graph 1. Where do
you think the UK is on the economic cycle 2. Why? Explain your
answer with using the other information you have 3. What do you
think will happen next in the UK economy? Why? End
22. Objectives Quick review of PPB curves Be able to explain
each phase of the economic cycle Analyse and evaluate the causes of
changes in the economic cycle