1. Explain the main views (schools of thought) in Macroeconomics and the differences between them.
2. What are the main differences between Macroeconomics and Microeconomics
3. What is the concept of efficiency? And scarcity?
4. What is a production possibility frontier (PPF)? What makes a PPF expand over time?
5. Describe the difference between a stock and a flow, giving examples.
6. What does 'investment' mean in macroeconomics?
7. Sketch in a graph supply and demand curves and discuss what factors could cause these curves to shift to the right and to the left. Illustrate in your graph surplus, shortage, and equilibrium situations.
8. Explain what GDP is and the key terms that appear on GDP definition.
9. What are the 3 approaches to GDP measurement? How do they differ from each other?
10. What is the difference between nominal and real GDP?
11. How do we calculate GDP growth?