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Economics 4EC1/02 May June 2021

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1. Types of Unemployment and Trade Barriers: Identification of seasonal, cyclical, and structural unemployment; understanding tariffs, subsidies, and import taxation. 2. Economic Indicators and Macroeconomic Trends: Definition and calculation of recession, fiscal deficits, exchange rate effects, and trade balances. 3. Market Dynamics and Government Interventions: Impact of subsidies on equilibrium price and quantity, benefits of public goods like national parks, and taxation for environmental protection. 4. Foreign Direct Investment and Global Trade: Benefits of FDI for economic growth, globalization effects due to reduced communication costs, and protectionist measures like quotas. 5. Social and Economic Policy Implications: Consequences of rising unemployment on consumer confidence, poverty indicators, and government investments in healthcare. 6. Sustainability and Environmental Policies: Use of taxation to mitigate environmental damage, balancing economic growth with ecological concerns, and the role of government in sustainable development.
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