ACCA 2

这是一篇关于ACCA 2的思维导图，主要内容有Govermental policies and obligations、fiscal policy、monetary policy等。

The macro economic environment

• Govermental policies and obligations
  • aims
    • to achieve economic growth
    • to control price inflation
    • to achieve full employment
    • to achieve a balance between exports and imports
  • impact
    • overall economic policy
      • market demand
      • cost of finance
      • taxation
    • industry policy
      • protection/ free trade
      • grants, incentives, sponsorship
      • regulation( like investor protection or company law)
      • entry barriers/ capacity
    • environment
      • distribution
    • social policy
      • workplace regulation/ employment law
      • labour supply/ skills/ education
    • foreign policy
      • trade promotion
      • EU/WTO
      • aid recipietions
  • factors which affects the economy
    • investment level / the mutiplier effect / inflation / savings confidence / interest rates / exchange rates
• fiscal policy
  • components of planning
    • expenditure planning
    • revenue raising
    • borrowing
      • PSNCR
  • increase demand
    • increasing spending
    • reducing taxation
  • taxation
    • • direction taxation
      • indirection taxation (eg.VAT/sales taxes)
        • charge as per unit sold
          • eg. a petrol tax per litre
        • ad valorem taxes
    • • a regress tax
      • a proportional tax
      • a progress tax
• monetary policy
  • instruments
    • interest rate
    • reserve requirement
    • exchange rate
• phases in business cycle
  • recession
    • demand/confidence falls
    • investment begin unprofitable
    • orders are cut; inventory level reduced
    • some companies begin to insolvent
  • depression
  • recovery
  • boom
    • capacity and labours become fully utilised
    • AD ↑——P↑
    • high inward investment
• inflation & its consequences
  • measures
    • PPI (producer prices index)
    • RPI (retail prices index)
      • all goods and services（including housing costs）
    • CPI (consumer prices index)
      • all goods and services（excluding housing costs）
  • consequence
    • redistribution of income and wealth
    • balance of payments effects
      • exports ↑, imports ↓
    • uncertainty of the value of money and prices
      • in case of hyperinflation, -barter
      • efficiency of resource allocation ↓
    • the costs of changing prices
    • economic growth and investment
  • causes
    • demand pull factor
      • only exists when unemployment is low
    • cost push factor
    • import cost factor
    • expectations
    • excessive growth in the money supply
• unemployment
  • measure
    • unemployment rate = (number of unemployment)/ (total workforce) ×100%
    • flows into
      • working labour becoming unemployed
        • redundancies
        • lay-offs
        • voluntarily quitting a job
      • newly joined the workforce
        • school leaver without a job
        • others rejoin the workforce without a job
    • flows out of
      • find a job
      • be re-employed
      • stop finding jobs
  • consequence
    • loss of output
    • loss of human capital
      • the unemployer will gradually loss their skills
    • increasing inequalities
    • social costs
    • burden of welfare payments
  • cause
    • real wage unemployment
    • frictional
      • inevitable
    • seasonal
    • structural
    • technological
    • cyclical/ demand defient
• vocabulary bank
  • multiplier
    • 乘数
  • aggregate supply
    • 总供给
    • AS=C+S+T
  • aggregate demand
    • 总需求
    • AD=C+I+G+(X-M)
  • fiscal policy
    • 财政政策
  • expenditure
    • 支出
  • revenue
    • 收入
  • PSNCR
    • public sector net cash requirement
      • 公共部门净现金需求
  • deficit
    • 财政赤字
  • VAT
    • 增值税
  • ad valorem taxes
    • 从价税
  • monetary policy
    • 货币政策
  • quantitative easing
    • 量化宽松
  • reserve requirement
    • 最低准备金要求
  • inflation
    • 通货膨胀
  • inflationary gap
    • 通货膨胀缺口
    • =AD-AS=I-S
  • equilibrium
    • 均衡
  • stagflation
    • 滞涨
  • recession
    • 经济衰退
  • inventory
    • 库存水平
  • insolvent
    • 破产的
  • balance of payments
    • 国际收支
  • hyperinflation
    • 恶性通货膨胀
  • barter
    • 以物易物
  • allocation
    • 配置
  • buoyant
    • （经济）繁荣
  • redundancy
    • 裁员