1. Identify which of these decisions/concepts are within the scope of macroeconomics and which are within the scope of microeconomics. (Do not worry if you do not know some of these concepts yet, as they will be explained in depth in the Annexes of this starter kit.)
- A. Overall increase in prices within the economy.
B. Employment support in the textile sector.
C. Austerity measures (reduction in public spending).
D. Allocation of 40% of the national budget on defence and military.
E. Household consumption.
F. Rise of real estate prices in a city.
G. Difference between money coming into a country and money going out from that country.
H. International trade agreements.
I. Decision to take on a mortgage.
J. Rate of overall unemployment in a country.
K. A country’s decision to print more money to ease money flow in the economy.
L. Interest rates of a national central bank.
M. Decision of the agricultural sector to increase the price of a ton of potatoes.
N. The ways one country’s currency value changes in relation to another country’s currency over the course of a year.
Macroeconomics: A, C, D, G, H, J, K, L, N
Microeconomics: B, E, F, I, M
2. From what you have read on conventional macroeconomic theories and feminist economics, try to formulate three questions you can ask to understand the ultimate goal of a macroeconomic policy implemented in your country.
- (this is just a selection of possible questions, and by no means an exhaustive list)
- How will this policy affect different groups of people within my community – women, girls, elderly, marginalised groups etc.?
- When this policy is implemented, who will gain more wealth in the end? When this policy is implemented, who will gain more power in the end?
- Who made the decision to implement this policy?
- Is there a way to understand this policy beyond numbers and equations; how could I explain this policy to my community?
- What can be the alternative formulation of such a policy, one that would benefit all sectors of society equally? Or better yet, serve to ensure that the populations that are most left behind can come closer to the rest of the society?
AWID. (4 February 2013). “Demystifying Economics: Macroeconomic Policy”.
FEMNET. (August 2020). The Audacity to Disrupt: An Introduction to Feminist Macro-level Economics. Gender & Development Network.
Institute for New Economic Thinking. (11 December 2019). Economics for People: Lecture Series.
Jones, D. & Eazl. (July 2019). Macroeconomics 101 for Managers and Executives. Udemy.
Khan Academy. Macroeconomics.
Urban, J., & Pürckhauer, A. (18 December 2016). “Feminist Economics”. Exploring Economics.