f Chapters Topic Year Country Policy/Event Explanation

Micro 2.2. Income in the case of normal goods Any Place

Mostly A recession or some sort of economic crisis
Micro 2.2. Income in the case of inferior goods Anytime developed forceshighlighted
BBC lower income and so people
the problem would
of plastic polution,
country consume more inferior Quantity supplied decreased, price of single-use plastics
Micro 2.2. Preferences and Tastes 2017 UK which increased public goods
awareness to reduce
decreased as the demand decreased.
Micro 2.2. Prices of Substitute Goods N/A N/A the demand for single-use plastics
Marriott hotel and Emirates airline: Earn bonus
Points used to purchase flights and hotel stays, lowering the
Micro 2.2. Prices of Complentary Goods N/A N/A points if premium Marriott member fly emirates
price → increase quantity demanded
vice versa
Petrol price is hiked by Rs 1.67 per litre while
Micro 2.2. Prices of Complentary Goods N/A N/A diesel price is increased by Rs 7.10 per litre in m
Covid-19 increase
Delhi. Demand demand
of private of mask
cars HK →
decrease
Micro 2.2. The No. of Consumers 2020 Hong Kong
Price increase
Micro 2.2. Demand increase by advertisment 1960 N/A
Micro 2.3. Vertical supply N/A N/A Tickets for movies etc
2020 Apple allocate electronic parts more to - Two or more goods compete use of same resources
Micro 2.3. Price of competitive supply 2020 N/A
iPhones thanofiPad
Introduction machines lowers cost of - Switch because more supply and
Micro 2.3. Technology 1930s US - Tax imposed on the spending of goods and services to
production
Micro 2.3. Taxes 2019 Canada discourage burning of coal discourage consumption
Micro 2.3. Taxes 2019 Qatar 100% alcohol tax discourage alcohol consumption -(shown
increase COP
above)
Micro 2.3. Joint supply milk and butter butter is a by-product of milk
Micro 2.3. Subsidies 2020 Australia funding renewable energy agencies
HK gov subsidise non-government primary and secondary school.
Micro 2.3. Subsidies 1991 Hong Kong Direct Subsidy Scheme
To enhance the quality of private education
Louisiana oil spill to deepwater → seafood supply
Micro 2.3 and 2.4 Supply Shock 2010 Louisiana decrease
Micro 2.5. price mechanism reallocates resource N/A N/A automaker SGMW switching its production
Micro 2.5. Signalling and incentive N/A N/A lines from automobiles to surgical masks after
Micro 3.1. Inelastic PED of primary neccesities N/A N/A the surge
raw in mask
materials prices.
and food (agricultural goods).
Micro 3.1. Elastic PED N/A N/A Luxuries such as diamond rings
Uber doubles price when public holiday to maximise
Micro 3.1. price elasticity on decision making N/A N/A revenue, cause transportation full → more inelastic PEODM measures the responsivness of decision making to a
price elasticity on decision making (from
Micro 3.1 government tax)
2019 Canada discourage burning of coal
price elasticity on decision making (from change in price
Micro 3.1 government tax)
2019 Qatar 100% alcohol tax discourage alcohol consumption
Micro 3.1 Substitute: within same company N/A N/A Sprite vs Coke
Micro 3.1 Substitute: rival company Coca Cola vs Pepsi
AT&T and BellSouth were highly competitive substitutes
Micro 3.1 Substitute and merge 2005 US Marriott hotel and
(5.87) → Merge Emirates airline: Earn bonus
in 2006 Points used to purchase flights and hotel stays, lowering the
Micro 3.1 Complement and collaboration N/A N/A points if premium Marriott member fly emirates
price ceiling on rental housing 60% lower Pm in price → increase quantity demanded
Micro 4.1. Price Ceiling (Housing) 2008 New York vice versa Increase political popularity of the government to low-incomers
New
stapleYork (limit
food, keyamount for landlords
ingredient to charge
for commonly rent)
eaten Allows good become more affordable to consumers (particular
Micro 4.1. Price Ceiling (Agricultural Product) 2018 Kenya Price floor on maize
vegetables
dishes. Make flour in Kerala.
more Supportable
affordable, - Often support income to producers selling agriculture since
to low-incomers)
Micro 4.1. Price Floor (Agricultural Product) 2020 Kerala (India) and provide relief for farmers.(20% above the unstable revenue
Micro 4.3. Government indirect taxes 2019 Canada normal price)
discourage burning of coal - Increase price receive + output sold (increase total
Micro 4.3. Government indirect taxes 2019 Qatar 100% alcohol tax discourage alcohol consumption
Micro 4.3. Tax ad valorem 2017 India Introduction of GST on various goods
Direct Subsidy Scheme: HK gov subsidise non- producers / consumers on the third party.
Micro 4.4. Government subsidy 1991 Hong Kong government primary and secondary school. - Subsidy has the effect of increasing the quantity of a good
Micro 4.4. Government subsidy 2020 Australia funding renewable energy agencies (143m) (same
Subsidyashas
above)
effect of lowering price of good, usually
US rice market subsidy since 1998. Improve
Micro 4.4. Subsidy (Agricultural Product) 1998 US necessities. Make goods more affordable to especially low-
national welfare + health
Micro 5.1. Common pool access resources income consumers
Beijing Olympic 2008 factories only produce
Regulations enforce laws (consequences if not comply)
Micro 5.3. Negative externalities of production 2008 Beijing within specific times → reduce pollution by
especially effective
Permit is harder to reduce
to desing as itpollution
needs to levels
set at the right level
Micro 5.3. Negative externalities of production 2019 EU 30%
Cap and trade EU 2019 steel companies
and requires fair distribution among all users in interest
Micro 4.3. Government indirect taxes 2019 Canada discourage burning of coal Cannot target a particular carbon reduction
Tradable permit scheme curb particulate
Micro 5.3. Negative externalities of production 2019 Surat Tax: Uncertain outcomes of carbon reduction
pollution Advertisements only provide incentive, hence it is uncertain
Micro 5.4. Negative externalities of consumption 2012 Australia Tobacco plain packaging Australia - tradable permits: Has a limited "cap" for emissions
- Attach
whether monetary value
consumption levelstowould
consumption
really decrease
Micro 5.4. Negative externalities of consumption 2019 Qatar 100% alcohol tax discourage alcohol consumption - May not significantly decrease demand since inelastic due
Hawaii 2015 age limit purchase cigarette from 18 to to addiction. High indirect tax must be imposed in order to be
Micro Negative externalities of consumption 2015 Hawaii 21
Legislations
Subsidy has can beofimplemented
effect more
lowering price easilyusually
of good,
US rice market subsidy since 1998. Improve
Micro 6.1. Positive externalities of production 1998 US necessities. Make goods more affordable to especially low-
national welfare + health
Micro 6.2. Positive externalities of consumption N/A Hong Kong Compulsory 12 years education income consumers
Regulations enforce laws (consequences if not comply)
Micro Chapter 5 aCommon access resources
Micro Chapter 5 aLegistraion for common access Montreal Protocol 2009 all member states of International cooperation required for effective responses to
Micro Chapter 5 aInternational cooperation 2009 Montreal the United Nations agreed to remove oxygen the threat posed, therefore government response to threats to
Micro 7.2. Profit maximisation by the rational producer depleting substances sustainability is limited
Micro 7.3. Perfect competition 2020 Country X Fish market in country X alternative service that is similar to it. This means that the
Micro 7.4. Monopoly 2020 USA Facebook revenue maker (data from users) is more valuable, and thus
Micro 7.4 Natural Monopoly 2020 State X Water company in state X Facebook makes a lot of money from the profit of consumers,
Micro 7.5. Monopolistic competition 2020 Country X Sushi restaurants in a region of Country X
Gabon, Iran, - Other producers of oil match their prices (which are usually
Micro 7.6. Collusive Oligopoly In general Organisation of Petroleum Exporting Countries -higher
Their than
prices of their new phones
Iraq, Kuwait, Android smartphone companies compete with they should be), whichare limited
causes by their in
petroleum
Micro 7.6. Non-Collusive Oligopoly 2021 USA competition with each other.
Gov Intervention in Response to Abuse of each other in an oligopoly.
Micro 7.7. 2022 EU Fine to Intel for anticompetitive behaviour - The only determinant of profit is how cheap their can produce
Market Power - AT&T broke into 8 smaller companies.
AT&T was broken up by the Federal Trade
Micro 7.7. AT&T Breakup 1984 USA -1.These
Output8 increases
companiespurchasing
competed poweragainstincreases
each other in regards
Commission
GDP 3rd cause for 30%
anti competitive behaviour.
personal tax, low
Macro 8.2 and 8.1 GDP increase, living standard increase 2017 Switzerland to
2. the Bellincrease
Income System of taxtelecommunications.
increases, better services from
unemployment -> 1st living standards 1. Output increases purchasing power increases
GNI 3rd cause 30% personal tax, low government
8.2 and 8.1 GNI increase, living standard increase 2017 Switzerland 2. Income
GDP does increase
not measuretax increases, better of
the "true" value services
output:from Do
unemployment -> 1st living standards
Macro 8.2 and 8.1 GDP understate living standard 2017 Greece Illegal transactions should account Greece 20% GDP government
not include output sold in parallel markets
RWE: 2018 US military instead saving thousand of GDP calculate alltransactions
- Unrecorded without distinctions for merit good / social
Macro 8.3. Composition of output 2018 US lives services
Income may be concentration in a small percentage of
Macro 8.3. Distribution of income and output 2020 South Africa 37th GNI but 0.6 Gini Coefficient
Ex. $1 US 3 pieces of gum in Switzerland vs 60 population, while large portion of population can't satisfy basic
Macro 8.3. Cannot compare between countries N/A More than one Different >
Injection domestic
< Leakage price levels
pieces in Indonesia)
Entry of money > < Withdrawal (More Less Goods + Services
purchased)
Firms Increase Decrease production, unemployment
Macro 8.4. Leakage 2020 Switzerland 30% personal tax decreases increases
Household income Increases decreases
Size of circular flow increases decreases
Increase imports, Tax, Savings (Leakage) Increase
25% saving US household 2020 low government expenditure (Injection) + less savings
Macro 8.4. Leakage 2020 US (shown above)
confidence
China exportto↑,
pandemic
since ↑ demand of medical
Macro 8.4. Injection 2020
GREAT China (shown above)
Determinants of AD with changes in equip.
RWE: US great depression because of tax
Macro 9 consumption
DEPRESSIO US Changes in personal income tax
Determinantsspending
of AD with changes in N
60%, AD decrease - How optimistic firms are of future sales and economic
Macro 9 2010 Germany business confidence ↑ → factor output↑ Changes
investment spending
Determinants of AD with changes in activity. in political priorities
Macro 9 government spending
2020 Australia funding renewable energy agencies - The government might increase or decrease expenditure
due- Increase
to changesbusiness tax: increase production cost --> ↓
in priority.
Macro 9 Determinants of SRAS 2020 Australia funding renewable energy agencies
SRAS
Macro 9 Determinants of SRAS 2010 Louisiana Supply shock, louisiana
Direct Subsidy Scheme: oil HKspill
govtosubsidise
deepwater
non- ↓SRAS
Macro 9 Determinants of LRAS 1991 Hong Kong government primary and secondary school. To Quality of factors of production increase
enhance the qualityenergy
of private education Quantity of factors of production increase, make better use of
Macro 9 Determinants of LRAS 2020 Australia funding renewable agencies
labour resourcesscarce
- How efficiently → natural rate of are
resources unemployment
used decreases
Macro 9 Determinants of LRAS 1980 UK Privatisation British Telecom 1980 - Depends
Economy on unable to buy enough output to (Privatisation)
make firms
unemployment would be lower than without - degree of private ownership
Macro 9 Keynesian 2010 US produce potential GDP
Limitations in measuring level of investment
70% (may
unemployed show government
participate must
in underground economy Underground Economy, butgovernment
regarded asinterventions
unemployed to when
Macro 10.1. 2017 Greece - Remain stuck → requires
unemployment Greece people work in an informal labour market.
 - Technological changes
Macro 10.1. Causes of structural unemployment 2016 China 2016 Automation China 77% jobs at risk - RWE: 2016 Automation China 77% jobs at risk
operating - Structure in the labourofmarket
change economy growing + declining
Macro 10.1. Causes of structural unemployment N/A Australia Australia $12 US per hour highest min. wage
Nigeria high unemployment → negative - -Minimum
Fewer people wage ablelegislation
to work +→ Labour
fewerunion
outputactivities
an economyand is
Macro 10.1. Consequences of unemployment 2017 Nigeria
national output 2017
25% Greece unemployed → tax revenue capable to produce
require government funds to deal with social problems caused
Macro 10.1. Consequences of unemployment 2012 Greece
weakened
Ethiopia → unable to repay
unemployment from bailout
20% increase crime by unemployment
Social problems created such as homelessness and increase
Macro 10.1. Consequences of unemployment 2019 Ethiopia competitiveness ↓
rate violence
Macro 10.2. Consequences of inflation 2015 Argentia 30% inflation → export soya bean decrease - Price of imports cheaper relatively. Imports attractiveness
Household debt larger than economy due to ↑. - Since investment and consumption decreases, they are
Macro 10.2. Consequences of deflation 2015 Thailand Direct Subsidy Scheme: HK gov subsidise non- more unlikely to pay back loans → bankruptcy of firms
Investing capital increase production deflation - Increase quantity may not be source of growth as countries
Macro 11.1 1991 Hong Kong government primary and secondary school. To - Destruction causes
possibilities hence
Investing capital economic
increase growth
production may have high levels of fewer and lower quality of natural
unemployment
Macro 11.1 2020 Australia enhance the quality of private
funding renewable energy agencies education resources for future generations
possibilities hence economic growthon distribution
Consequences of economic growth Economic growth → 2020 South Africa 37th - Health affected by pollution → destruction
Macro Chapter 11 living standards/income distribution 2020 - Economic growth may benefit the richer mostdecrease
since have quality
Consequences of economic growth on GNI but 0.6 Gini Coefficient institutional changes, since it decreases demand of certain
Macro Chapter 11 unemployment 2016 China 2016 Automation China 77% jobs at risk assets + high-paid jobs
Consequences of economic growth on RWE: 2015 Economic growth UK → highest labour skills
behaviour to purchase imports → higher fraction of income
Macro Chapter 11 current account of balance of payments 2015 increases
Government policies that promote income current
RWE: The account
US has deficit
had a progressive federal cause leakages to purchase import
Macro Chapter 12 equality 1862 US - Direct taxes reduce after-tax income; therefore more equal
Government policies that promote income tax rate since 1862 other groups
Macro Chapter 12 equality N/A India RWE: Pensions for elderlies in India over 55 after-tax distribution of income
Government expenditure that promote RWE: HK vaccination scheme 2020 $210 per -Misallocation Target particular groups of→people
of resources overallocation of resources
Macro Chapter 12 income equality 2020 Hong Kong
Government expenditure that promote dose - Loss role of price for signalling and creating incentives
opportunities
Macro Chapter 12 income equality N/A Hong Kong Compulsory 12 years education During recession
Fiscal stimulus package + Expansionary monetary - Allow them todespite
contribute fiscal stimulus output
increasing packageand+ productive
Macro 13.1 Expansionary fiscal & monetary during r 2009 US Stop: Contractionary monetary policy →
policy fail
expansionary monetary policy... unemployment grew + budget
deficit - Contractionary:
grew decrease inflation, worsen unemployment
Macro 13.2. Monetary Policy weakness 1980s US lowering inflationary pressures -- Interests can be adjustedunemployment,
in small rates worsen inflation-
expansionary increase inflation incrementally Expansionary: decrease
Macro 13.2. Expansionary Monetary Strengths 2017 Japan Go: Expansionary monetary policy → lower to - Influencing economy in small steps to achieve target of
US Recovery
achieve 2% inand Reinvestment Act - public
future output: Directly inflation,spending on physical capital goods + human
Macro 13.3. Expansionary Fiscal strengths 2009 US investments in education and training, tech and output, - If government
unemployment
borrows to expend → deficit spending
capital formation, ability to target sectors that are most in need
13.3 Expansionary Fiscal Weaknesses 2012 Greece health
can't repay bailout -- Stagflation:
↑ D of money, ↑ interest
presence rate
of inflation and unemployment
Macro 13.3 Expansionary Fiscal Weaknesses 2018 Pakistan 10% stagflation -- Discourage
increasing investment
level + by privatereal
firms --> output
AD decreases
Deal with rapidprice inflation reducing GDP level
1993 US increase tax rates → pull economy simultaneously
Macro 13.3. Contractionary Fiscal Strengths 1993 US - Contractionary effectively help bring under control
from hyperinflation
Direct Subsidy Scheme: from 6%HK to 3%
increase quality of -- Invest on large
human capital → allow people to acquire higher
Macro 13.6. Supply side strengths 1991 Hong Kong Increase taxes reduce consumption
private education skill
manufacturing sets to acquire a jobas
workers, with
firmsa higher
increaseincome,
need decreasing
to employ
Macro 13.6. Supply side strengths 2018 Hong Kong Hong Kong Zhuhai Macau Bridge
more FOP to increase output,
However, investing on technology cause structural decreasing natural rate of
Macro 13.6. Supply side strengths 2016 China Automation China 77% jobs at risk
unemployment - Can be used as there is change
to support in demand of skills
for medium-sized or small firms
Macro 13.6. Supply side strengths 2020 Australia funding
US renewable
Recovery energy agencies
and Reinvestment Act - public - Can be used to support infant industries
Macro 13.6. Supply side strengths 2009 US investments in education and training, (shown above)
- Transfer ownership of a firm from the public to the private
UK gov. privatised
healthcare, British Telecom → increase
technology
Macro 13.6. Supply side strengths 1980 UK sector
promoted to increase productive efficiencies +
competitiveness
Macro 13.6. Supply side weaknesses 2020 Australia funding renewable energy agencies - Hence they mustcommon
overconsumption lower costs andresourcesmaximise profits since
their competitors. of Here, using access a less expensive service
Internationa14.2. Comparative advantage 2004-2006 USA IBM hired 34,000 more workers from India. -outweights
Decrease providing quality of anatural
quality capital
service.+ human capital
Japan and produces 25 million motorcycles and 2.5 million motorcycles and speed boats, it only has a comparative
Internationa14.2. Comparative advantage In general Columbia speedboats
Donald Trump's during the same period.
administration imposed tariffs adnatage
as good asinMr. producing speed boats.
Trump hoped).
Internationa14.3. Tariff 2018 USA on steel
China is imports.
allocating more low-tariff import -- Therefore,
Trade war with China China started. the quota to allow more
is increasing
Quota 2020 China quotasisfor
Biden corn.a subsidy to American
giving -foreign
This move supply to enterGerman
angered the country.carmakers, who pointed out how
Subsidy 2021 USA
European production
The EU hasofmanyelectric cars.
administrative barriers to it would
direct increase
tariff prices for goods.
on international electric cars.
Administrative Barriers In general Union
US, Mexico entry.
The North American Free Trade Agreement is -reliant Therefore, the EU countries
and dependent upon the greatly
US and benefit.
Canada.
International15.2. Free Trade Area 2008 and Canada
European in force
Andorra, San Marino and Turkey are in a - Also prevent Mexico
'outcompete' each other in certain areas. from developing their own IP.
15.2. Customs Union In general Union
European customs union with each other. -employment
In general, the andEU goodwins, while
prices asother
well. nations states lose out.
15.2. Common Market In general Union The EU functions as a common market. -- Fiscal
Coordination stimulus is and
doneusingby the European
debt to counter Council.
recessions is
15.3. Common Market 1999 Eurozone
Australia and The Eurozone
Floating exchangeacts rate
as aismonetary
effected union.
by politics limited. is more restricted.
business
16.1. Floating
Government exchange rate in exchange
intervention 2020 China between Australia and China. -- Weaker
Australians lose out,lose
currencies as their
out morecurrency decreases
because of this in value.
currency
16.3. rate 2020 China China devaluates currency by 4.4% manipulation.
 fallen in their standards of managing the Current Account
16.4. Balance of payment 2022 USA
Bangladesh Credit Rating has fallen for the US correctly.
Development econ LEDC https://discord.com/channels/230296179991248896/263571890415599616/960884027831746560
Chapters Topic/Word SL/HL Example
1.1 Production possibilities model Japan would produce more services for healthcare instead of education since there is an ageing problem
2.2 Demand increase (?) Share bikes in China 2014
Non price determinet of demand a
productof(increase/decrease)
Prices substitute goods (Demand) the iPhone's price suddenly jumped, relative to many Android phones.
Income in the case of nomal good (Demand) The great depression (1930s)
Prices of complementary goods Petrol price is hiked by Rs 1.67 per litre while diesel price is increased by Rs 7.10 per litre in Delhi. Demand of private cars decrease
Demand increase by advertisment cigarettes advertised by Tim Romano in1960
2.3 Quantitied supplied decrease Less facetiously, USDA’s weighted average of all retail beef prices hit a new high of $5.12 per pound in December, up about 3.5 percent since August. Beef prices are rising so sharply that it’s possible McDonalds will be forced to remove its popular McDouble from the Dollar Menu
Vertical supply Tickets for movies, etc.
Non price determinet of supply a product
Technology introduction to machines replaced humans(automation), lowering cost of production of producing simple things such as dolls or toys. 1930s[edit]. The earliest designs of industrial robots were putinto production in the United States. These manipulators had joints modelled on human shoulder-arm-wrist kinetics to replicate human motions like pulling, pushing, pressing and lifting.
Taxes The UK sugar tax. Officially called the Soft Drinks Industry Levy (SDIL), the tax puts a charge of 24p on drinks containing 8g of sugar per 100ml and 18p a litre on those with 5-8g of sugar per 100ml, directly payable by manufacturers to HM Revenue and Customs (HMRC).
Supply decrease by tax The Hong Kong tobacco tax from year 1983 is now about 67% of the retail price
Joint supply fighting a "serious component shortage" this year, Apple reportedly reallocated parts earmarked for the iPad and used them to make iPhones instead, reportedly at the cost of some 2-3 million iPads.
Subsidies 19 December 2021, Department for Levelling Up, Housing and Communities of the UK government has annouced a subsidy of 22.5 million pounds to ecnou
Supply Shock drought in 2018, India lacked a great amount of water and their crops were destroyed.
2.4 price mechanism reallocates resource As the Covid-19 pandemic broke out all over the world, there is an increase in demand of masks as people want to protect themselves. The demand of masks increases from D1 to D2, quantity demanded increases from Q1 to Q2, and Price increases from P1 to P2; at the same time, since the quantity supplied at P2 is Q3, which Q3 is smaller than Q2, it causes shortage in masks.
Signalling and incentive automaker SGMW switching its production lines from automobiles to surgical masks after the surge in mask prices.
3.1 PED Uber percisely figured out that the quantity demanded decreases 6 times more if price increases 200% rather than 190% in 2016.
Inelastic PED of primary neccesities raw materials and food (agricultural goods). Toilet paper?
Elastic PED Luxuries such as diamond rings
3.2 XED in substitues/negative XED any substitutes, eg android and iphone
3.2 XED in complements any complements, eg CD and CD player
3.2 price elasticity on decision making McDonalds has the elasticity of 0.7-0.8. If increase 1% price of good, there is a reduction of 0.8% of quantity demanded
Reasons of knowing PED/PES
Decisions of price /quantity Uber raise price under peak hour
depends onwithin
Substitute: its price
sameelasticity
company of
Coca-Cola: Schweppes and Coca-cola
Substitute: rival company Coke Pepsi
Substitute and merge In 2005, AT&T and BellSouth were highly competitive substitutes of XED 5.73. This has led to their merge in 2006.
Complement and collaboration American Airlines and Hilton Hotels : Convert hotel points to miles
4.1 Government indirect taxes US government has a $8 billion year-tax on alcoholic beverages
Tax ad valorem Tax on cigarettes in hong kong, a 67% tax per pack to discourage consumption, in 2012. (Ad Valorem Tax)
4.2 Price Ceiling (Housing) Rent control in NYC states that landlords are only allowed to increase rent by 7.5% until the MAx Base Rent is reached, as of 2012.
Price Floor (Agricultural Product) In 1962, The Common Agricultural Policy was designed to offer minimum guaranteed prices to European farmers to ensure a consistent and reliable supply of food throughout the European community
4.3 Government subsidy Hong Kong public transport fare subsidy scheme / USA farm subsidies (The federal government spends more than $20 billion a year on subsidies on farm business
Subsidy (Agricultural Product) In 2004, the Chinese government imposed subsidy on farmers’ purchase of seeds and agricultural machines and waived their agricultural tax.
Government intervention in housing market:
1. Legislation In 2010, a housing purchase restriction policy was announced by China’s central government. reduces housing prices and transaction amounts
2. Price ceiling Rent ceiling price for New York City in 2008 which is 60% below than market price. Make housing more affordable to low income consumers
3. Subsidies on producer Hong Kong: Entrust the Urban Renewal Authority (URA) with a new mission to provide more subsidized housing-- first subsidized housing project at Ma Tau Wai Road. -Increasing housing supplies
4. direct government provision During the 1990s, the land release policy was implemented by the Singapore government, the government released its state-owned land for private residential development -reduce private residential housing prices
5. Price ceiling 2 Beijing city price ceiling on housing. Won’t allow new residential projects to go on sale if prices are higher than those sold in earlier launches. To prevent home price rise, making housing more affordable

4.3 Subsidy on merit goods Vaccination subsidy scheme hk

4.5 Price ceiling India price ceiling on uber rides
Zimbabwe's Hyperinflation Case in 2008 (Government attempted to place price ceiling on agricultural goods to keep the good affordable (but was not succesfull as it discentivesed the production of said good))
4.5 Price floor India price floor on steel to protect domestic industry, Scotland has price floor on alchol, charging 50p per unit starting from may 2018. This led to a weekly decrease of 1.2 unit consumed per adult
5.3 Negative consumption externalities Alcohol consumption in US -> clean up and policing cost cuz they need to deal with the crimes and mess caused by drunk people
5.3 Positive consumption externalities When you consume education you get a private benefit. But there are also benefits to the rest of society. E.g you are able to educate other people and therefore they benefit as a result of your education. (positive consumption externality)
Legistration to correct HK new born babies are forced to vaccine to fight off known virus and common cold
5.4 Negative production externalities Coal India. their extraction of coal have a great deal of pollutant which harms the enviornment
Legislation to correct Euro VI emissions standard adopted for all new diesel engines in the EU since 2013
Positive production externalities amazon training employees which skills can later be reuse
5.3 Carbon tax Denmark charges $14 in Euros per ton for carbon emission since 1993, having $900 million revenue per year and reducing 25% of carbon emissions
5.3 Cap and trade California has a reduction of 35 million metric tons of pollutants in 2018 from cap and trade
5.6 Common access resources Overfishing of Bluefin Tuna in United States due to high demand in sushi market
Legistraion for common access In 2011, marine vessels were the largest source of respirable suspended particulates, nitrogen oxides and sulphur dioxide. In particular, the emissions of ocean-going vessels at berth accounted for about 40% of their total emissions within Hong Kong waters. In September 2012, the Government launched an incentive scheme to encourage ocean-going vessels at berth to switch to low-sulphur diesel. We are also considering bringing in new legislation to enforce the requirement of fuel switch at berth.
International cooperation The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change. The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions .These amount to an average of five per cent against 1990 levels over the five-year period 2008-2012.
8.1 Injection China uses 165 billion annually on tourism
8.1 Leakage Government spending 11 billion on Zhu Hai Macau Bridge
GDP increase, living standard increase Any developed country, eg Norway
8.2 GNI increase, living standard increase Switzerland 2nd highest GNI/GDP per capita in 2017 with 4.6% unemployment rate (low)
GDP understate living standard Central African Republic having $700 GDP per capita per year, but in less developed countries households tends to cook and hunt for food instead of trading in market, and those are non marketed value output
8.2 Domestic Price 1 US can buy 3 pieces of gum in Switzerland but 67 pieces of gum in Indonesia
8.2 Parallel Market Greece has 21% GDP that should be contributed by parallel market
8.2 Composition of output US use 700 billion for military service that could have saved thousands of lives from improper healthcare
8.2 Distribution of income and output Ranked 37 GDP/GNI in south Africa but 0.67 Gini coefficient in 2015
10.1 Consequences of unemployment Increased unemployment rate in 2016 causes decreased national output in 2017 Nigeria
10.2 Consequences of inflation In 2015, the inflation of Argentina has reached more than 30%, causing a 5% decrease of the total export of soya beans and tariffs
10.2 Consequences of inflation Germany 1920 costs DM 2 million for a loaf of bread
10.2 Consequences of deflation Germany 1920 costs DM 2 million for a loaf of bread
10.2 Consequences of deflation Thailand deflation 2015 (caused by weak oil and food prices), lead to a household debt of Bt 10.4 trillion in a 13trillion economy
12 Central Bank The People's Bank of China/ Bank of England/Reserve Bank Of India/The US Federal Reserve
Fiscal Policy (Expansionary/Contractionary)

Monetary Policy