UCL ECON ECON0002 Core Econ: The Economy Study Notes

1st Class Econs |




1234567898A8B268134C53DCE58F6D5C
998BF81
8B1A8
F
B881





1234562789A6BC8D8E9CFEB88A62458C8D66DE8!8
"#84678$34C5386A2998AE524C9

, 1st Class Econs |




6489A6BC8
1 9CFEB88A62458%7&5287356E86A2998AE524C9
1 89C24C98682986868A5965826C8B98B4C86892648B45C8
498498
CA6E9C8C8
C2AC56C8
2822456B82826C8498A59658
1 89CCC28B45C8458C826489A6BC8A628C659868F69C282826C
1 2826C8F8 !!"#868C6598C8BC$CB83E
BC9
1 4F8%&'8C28A64683E
BC38$C28 !!87C6298F2868BC$CB8F8()!!88( *!!!*8C8B45C8EB38
6$C8C896C89BC8698683E
B458F28(+*!!!88(,*!!!83BB629*828F28( -*!!!88
(.+*!!!8$C28 !!87C629
1 /F8C8BC$CB80E632EBC38
F28967*8()!!88(+*!!!8$C28 !!87C629*8C8B45C8EB38
C84AC8
6989CC*82CFBCA458682826C8686984AC86984
1C8BC625884598F2824E2C98  686538 
#
1 22868$C278B584C8B4$4589653623983438582845865789E9645C3867
1 1C589E9645C3828AAE22C38486C5C386834FFC2C584C9845834FFC2C58AE524C9*8
BC634588$69834FFC2C5AC98
CCC58B4$45896536239862E538C82B3


%2826C8F8%&'*8C8C658C826C8F8A65C#

, 1st Class Econs |




9'8
()F
81
8("8*+
8B("(F"
3946C8F8B4$45896536239*8%&'8C28A646848868C69E2C8F86B845AC8
6538EE845868
AE5278
A6BBC3829983C94A823EA*828%&'*84A8498C5834$43C38
78C8AE527598
EB645
%&'849868C69E2C8F8C86B8EE8F8C8CA578458684$C58C243*89EA8698687C62



2CC842658459882CC
C286
E8C69E24586$C26C8B4$45896536239845868AE527#
23 %&'849868C69E2C8F86B845AC845868AE527688C86586$C26C8C69E2C*8%&'8498
34$43C38
78EB645*84$458%&'8C28A646
43 %&'8C28A646849858C896C8698C834996
BC845AC8F86874A6B8C29581234564789AB
3CD6EABFBCD6EAB7739789AB7AB573CB7A4B7CBADA33CB7C4A4B6EBAB
6ACEAC
53 8C29559834996
BC845AC849868C69E2C8F849828C28B4$45896536239*8
E848498
4265869CA98F8CBB
C45


&4996
BC845AC8#8/5AC86$64B6
BC86FC286745867C9865382CAC4$4582659FC298F28C8
$C25C5
1 E58F86C982896B624C9*82F4*82C5*845C2C9865382659FC2867C598F28C8$C25C58

9EA8698E5CB7C58283496
4B478
C5CF4828F28C298
F28C76BC*84F982CAC4$C38$C28
684$C58C24389EA8698687C62*845E9865782659FC298C84534$43E6B863C88C29845ABE3458
67C9864388C8$C25C5
1 %38C69E2C8F8B4$458965362398#848498C8674E86E58F8F3*8E945*8AB4586538
C2839865389C2$4AC9868C8C2958A658
E784E86$4588
22
1 84464598#8


C80E6B478F8E289A46B86538794A6B8C5$425C589EA8698F24C5394986538ABC658642

%39865389C2$4AC9868C83858
E7*89EA8698C6BA62C86538C3EA64584F8C7862C8
2$43C38
7868$C25C5

%39865389C2$4AC986862C823EAC384458C8E9CB3*89EA8698C6B9828A4B3A62C8

2C34565B782$43C38
78C5


C896C86$C26C845AC86782C9EB8F28$C27834FFC2C5834924
E4598F845AC8

CCC5824A86538284458682E*86$C26C845AC8678F64B882CFBCA88CBB8FF868
2E8F8CBC8498
78A62495889C8C282E

&4996
BC845AC83C985845ABE3C8C839865389C2$4AC9823EAC38
78C8$C25C5*8
9EA86989AB45*856456B83CFC5AC*86538B68C5F2ACC58

E845ABE3C38458%&'

, 1st Class Econs |




9,8B
8#
F (
B8B
1*
1(*8F
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/53E9246B8C$BE4584886$C8F8CA5B4A6B863$65AC989624584589246458458C8 :8AC5E27*8
4A82659F2C38658626246586538A26F4
69C38CA57845868AC2A46B86538453E9246B8
CA57

CA5B78
1 2CFC29886A45C27*8C0E4C5865383C$4AC983C$CBC38E94589A4C54F4A85BC3C
1 /58CA54A9*8CA5B78498682AC998686C98689C8F86C246B986538C2845E9;
45ABE3458C828F8CBC865386A45C9;6538A2C6C98658EE
1 382CA4C8689CA4F4C98C8A
456458F845E98
452C34C5989EA8698FBE2*86538B6
E28
6A4$44C989EA869894224585CC3C388A2C6C8C8EE8
C8A6C

, 1st Class Econs |




9-8(81
1B
"8
F*"
9.8B
8
F
B8/8##)*(B8("81B

&C264A82659445
1 89B358458EB645828698C8F6BB84583C6826C84982C8658
6B65AC38
7868F6BB8
458
42826C9
1 &C942C8F28FCC28A4B32C5*8E
B4A8B4A4C98349AE26458B62C28F64B4C98
<456




8
14BC8C85E
C28F8CBC8458C82B38A545EC9882*869895845824E2C8 ,*8C86AC8F8
284989B458F28498C68458C8 =>!98
9CC824E2C8 )

, 1st Class Econs |




908 #(1B88B
8
+F
B
35$425C56B8?E@5C98<E2$C8
3?<848E496C382CB645948
CCC5868AE52759845AC8
6538C5$425C56B83C2636458
A334456BA




BA6BC8CFFCA84845A2C69C984586$C26C845AC84BB8BC63884C2823EA4586538E984C28
C5$425C56B83C263645

CA540EC8CFFCA8D845A2C69C8458A5AC2586
E8C5$425C5

, 1st Class Econs |




9181(#B(* 8"
/
"
<646B4982C$BE458484A84523EAC38685C8CA54A8979C8A6BBC38A646B498A626AC249C38

78685C8A
456458F84594E4598
58CA54A8979C84868678F826549458C823EA458653834924
E458F839865389C2$4AC98
458658C542C8CA578
/594E4598
1 34FFC2C589C98F8B69865389A46B8AE9982CEB645823EA458653834924
E458458
34FFC2C586798458F64B4C9*824$6C8
E945C99C9*86538$C25C58
34C9
1 B69865389A46B8AE998$C25458C82AC998F823EA458653834924
E458
8C98
68F839865389C2$4AC9*865388C9C8A65C8$C284C


<'/
8/BC8#858CA54A8979C84584A82CC8C784594E4598B678658426582BC#
1 #7C35684746752
1 37365E
1 /C74E


376BC98F834FFC2C58CA54A8979C98#
23 <C526BB78B655C38CA54A8979C
1 $C25C58698
CC58C84594E458$C2545823EA45*834924
E4586538C82AC998F8
A65C
1 9823EA4586986C58B6AC8458$C25C545C38C96
B49C59
1 $C25C586983CA43C388C839868C2C823EAC38C2C8E9C3*845ABE34588
C986
1 B$4C8545*83698%C2657


43 3A54A84594E4598#8'24$6C82C27*862C9865387E393A4
1 23EA458E9E6BB788B6AC8458F64B4C9826C28658F429
1 D4924A6BB78
CC583CC245C38
78C8B3C28C5C26458F8C8F64B78
458989A4C4C9*8C8
B3C28C5*86538
789A46B8AE9

, 1st Class Econs |




958#F+(B
8#F#
FB68 (F
B8("8/F 
'24$6C8'2C278
1 <646B8398#8C0E4C5*8
E4B3459*82686C246B9*86C5986538C2845CBBCAE6B8
2C27*86538C2845E98E9C3845823EA45839865389C2$4AC98
1 EE8A658C5F787E2899C99459845868678687E8A9C
1 EE8A658C7ABE3C8C298F28C428E9C84F87E849
1 EE8A6583499C8F8C8
784F82896BC889C5C8CB9C88
CAC98C4285C2
C62C
1 8678F8A55CA458CBC88EE6BB78
C5CF48
78C7A6545839865389C2$4AC98
2E8682AC998F8
E745865389CBB45
/586862C*8398289C2$4AC98678
C82659FC22C38F285C8C2958865C2*845882C9CA9#
26 B2628376876$C47$3567
15C8C2955982659FC28F86838289C2$4AC8865C28498342CAB782CA42A6C38
78682659FC28
458C8C28342CA458
C4C28F865C2838289C2$4AC86986C98B6AC8458
62C28C7A65C*8
285C7*82868249C8F2868B6C282659FC28C585C8
E79858A2C34
46 +D5372
982659FC29;
78C8
E7C286538C89CBBC2;62C8$BE56278
CA6E9C8C84598
C458
C7A65C3862C824$6C82C278
37A65C8E98
C8
C5CF4A46B8458C845458F8
8624C98
2428
1 8
E945C9982654964584A8CB798CBC*86538E2A69C9845E9*8823EAC86538
62C839865389C2$4AC986824AC98682C8658A$C28C8A98F823EA45
1 8678F82654945823EA45848C8FBB458A626AC2494A9#
26 15C8282C84534$43E6B9858689C8F8A646B83986862C8E9C3845823EA45
46
C786786C98653896B624C988CB7CC9
56
C78342CA8C8CB7CC98
2E8C8656C298C786B98CB78458C823EA458F8
39865389C2$4AC9
76
C839865389C2$4AC9862C8C82C278F8C85C29889CBB8C85862C9848C8
45C5458F86458682F4
24298B678686F282BC8458C8
8F8C8B6
E2862C8#8/5849862C8CB7C298FFC286C98
84534$43E6B98867862CC8828E53C28C428342CA458
1
C85C298F8C8F4298698CB7C298
28C428656C298FFC28F
98686C982896B624C98
6862C848C5E88626A8CBC8862C8B458F282
1 3B7C29862C8C83C6538943C8F8C8B6
E2862C8
C78G3C653G8CB7CC9

, 1st Class Econs |




1 12C29862C8C89EB78943C*8FFC2458828E53C28C8342CA458F8C85C2986538
656C298842C8C


C62C98653824$6C82C27862C8C99C546B86298F88F4298FE5A458F2882C6959#
26 /5E986538EE9862C824$6C82C27#8
C8F42598
E4B3459*8C0E4C5*86C59*86538
C2845E9845823EA45*8698CBB8698C82C9EB458EE9*8
CB588C85C29
46 24298E9C862C9889CBB8EE9#8
C85C29582F4983CC5385862C984584A8
AE9C2986784BB45B78E2A69C8C823EA98686824AC8684BB82C8658A$C28C428
A99

, 1st Class Econs |




9881(#B(* 8(8(8
1 18B





<646B498498658CA54A8979C868A
45C983CAC526B49645848AC526B49645#
26 <646B4983CAC526B49C9#8/8B4498C8C298F8$C25C5986538F8C284534$43E6B98458
C82AC998F8545*8
E745865389CBB45
46 <646B498AC526B49C9#8/8A5AC526C98C28458C865398F85C2986538656C298F8
F4298862C8C586
BC889CAE2C8C8AC26458F8B62C85E
C298F8CB7CC98458C8
23EA4582AC99