CFA Level 1 - Chapter 4: Introduction to Macroeconomics
Macroeconomics
Macroeconomics is the branch of economics that studies the overall workings  of an economy, such as total income and output; aspects of the economy are viewed in aggregate. For instance, when referring to labor in macroeconomics, the focus is on all workers within an economy, not the choices of an individual worker.

A. BASICS

I. Introduction
The information presented within Section A: Basics, is preliminary material and will not be tested directly on your upcoming exam. However, we recommend reviewing this material as you will need to know it in order to understand the more advanced topics discussed later.

Gross Domestic Product (GDP) and Gross National Product (GNP)
Gross Domestic Product (GDP) and Gross National Product (GNP) are the two most common measures of a nation's economic output.

Gross domestic product is defined as the value of all goods and services produced within a nation during a particular period of time (typically a year). Market prices are used to determine value and only "final" goods and services (those consumed by the end user) are included.

Gross National Productmeasures the income of all of a nation's citizens, even if that income was earned abroad. Amounts that foreigners earn within the nation's boundaries are not included. 
Next: CFA Level 1 - Gross Domestic Product (GDP)

Table of Contents
1) CFA Level 1 - Chapter 4: Introduction to Macroeconomics
2) CFA Level 1 - Gross Domestic Product (GDP)
3) CFA Level 1 - Nominal vs. Real GDP, and the GDP Deflator
4) CFA Level 1 - Limitations of GDP and Alternative Measures
5) CFA Level 1 - Components of Marginal Product and Marginal Revenue
6) CFA Level 1 - The Demand and Supply of Financial and Physical Capital
7) CFA Level 1 - Economic Rent
8) CFA Level 1 - The Business Cycle
9) CFA Level 1 - Key Labor Market Indicators
10) CFA Level 1 - Types of Unemployment
11) CFA Level 1 - The Consumer Price Index
12) CFA Level 1 - Aggregate Supply & Demand
13) CFA Level 1 - Short and Long-run Macroeconomic Equilibrium
14) CFA Level 1 - Economic Theories
15) CFA Level 1 - Money, Banks, and the Federal Reserve - Basics
16) CFA Level 1 - The Banking System
17) CFA Level 1 - Goals and Targets of the U.S. Federal Reserve
18) CFA Level 1 - The Supply and Demand of Money
19) CFA Level 1 - The Equation of Exchange
20) CFA Level 1 - Determining Inflation
21) CFA Level 1 - Phillips Curve
22) CFA Level 1 - Fiscal Policy Basics
23) CFA Level 1 - Effects of Fiscal Policy
24) CFA Level 1 - The Multiplier Effect
25) CFA Level 1 - Discretionary Fiscal Policy and Automatic Stabilizers
26) CFA Level 1 - Monetary Policy and Price Level Stability
27) CFA Level 1 - Expectations of Monetary Policy

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