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Both fiscal and monetary policies are demand-side policies used by authorities to either boost or decrease the aggregate demand of the economy. Aggregate demand (AD), consisted of consumption (C), investm...

A structural budget deficit arises irrespective of the business cycle. It will exist whether the economy is in the boom or recession phase of its business cycle: in short, the government is spending beyon...

The answer is a definite NO. In the IB course, the focus is really on the basic understanding of different economic theories and how they are applicable in the real world. Only if you tak...

I did not do A-level Economics, as I did the IB Diploma instead. Having said that, the first few chapters are more or less the same. I also did some self-study on GCSE Economics (though I did not take the...

The current account deficit is the term we use to describe the difference between all of the goods and services exported from the UK, and those imported here. It is not an actual account of any person or ...