This topic is mainly divided into 3 main sections:
- Trade and Protectionism
- Exchange rates and
Some schools include the teaching of BOP for this subject. Mr. Koh’s Economics tuition classes include the lectures about Macroeconomic Aims and issues for ease of presentation but the lectures didn’t include the education about trade and professionalism, the major concern of this topic is to enhance the present knowledge of students about macroeconomics.
In illustration with improving rates of exchange students require some knowledge about the interest and causes of disequilibrium in the BOP. For comprehension of globalization and its influences on the economy, the four major objectives of macroeconomics should be followed.
Overlap Between Topics
With the impending study of international economics, the students of Economics tuition have some knowledge about the objectives, tactics, and procedures of macroeconomics leverages. The Economics tutor, Mr. Koh highlights the fact that students spend much time in recollecting the concepts and get frustrated with the overlapping conceptualization of subject. For that reason, first, identify the content of that relevant topic and then revise the concepts for effective study. Here are some efficient ways to start the study:
- Reasons for protectionism (including protectionist approaches, especially the analysis of the tariff diagram).
- The pattern of trade (can also be grouped according to demand and supply-side factors)
- Trend towards globalization
- Theory of Comparative Advantage
Other significant parts that are related to the impacts of exchange, changes of exchange rate or globalization can be viewed as a modification practice on macroeconomics. As an augmentation, Economics tuition students should take note of those inquiries on Globalization can veer into a dialog on the Competitiveness of an Economy. Examiners of A Level Economics expect students to view how an economy can grow along the 3 channels mentioned below.
This is on the grounds that like globalization can influence an economy through the 3 channels:
- Labor flows