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UNIT1: MICROECONOMICS AND MACROECONOMICS 1.what do resources include?

time; talent people have available , the land, the buildings,

equipment and so on

2.what are two types of economics?

microeconomics and macroeconomics

3.What does microeconomics study in general?

Microeconomics studies how people choose to use the limited resources aming at best satisfying their demand

Microeconomics studies behavior of individuals or firms about decisions on particular commoditier

4 what are 3 important themes of microeconomics?

allocation of scare resources

 the role of prices

 the role of market

5.what does the term “trade –off” mean?

trade of means when you want something, you must ignore others

???Why must consumers, workers, firms make choice?

 because all resource are limited so consumers, workers, firms

have to make choice for the allocation of scare resources based on their preferences and maximize their well-being

6 example for trade off made by consumers?

they choose to buy fewer higher quality products but not more lower quality products of the same kinds

they trade off current consumption for future consumption

they may trade off beef for chicken when prices of beef are higher.

7 example for trade off made by wokers?

they trade off working now with continued education

they trade off working for large corporation with small

corporation: while some people choose to work for large

corporation that offer job security but limited potential for

advancement other prefer to work for small companies where there

is more oppotunity for advancement but less securitiy

they trade off labor for leisure

8 example for trade off made by firms?

firms have to decide for whom to produce, what to produce and how to produce based on their limited resources

they trade off hiring more workers or building new factories or

do both to increase profits

they trade off cutting the cost or increase the price of goods and services

9. What does the consumer theory describe?

consumer theory describes how consumers,based on their

preferences, maximize their well-being by trading off the purchase

of more of some goods with the purchase of less of others

the consumer theory shows how consumer best make trade off due to their limited resources

???How consumers make choice based on?

their scare income and preferances

10.the theory of the firms?

 The theory of firms describes how the trade-off can be best made

11 How are the prices important in the economy?/ what based on prices?

prices partly determine the trade off made by consumers, workersand firms

12 how to determine price?/who make decisions on the allocation

of scare resouces?

In a planned economy, prices are set by the government

 in a market economy, prices are determined by the interactions

of consumers, workers and firms

13.What does macroeconomics study in general?

Macroeconomics studies the interactions among all economic factors in the whole economy and in international market, as well asthe role of government in the economy

14 what are 2 major/types macroeconomic policies?

there are fiscal policy and monetary policy

15 what are economics factors/trends include?

economic growth;unemployment;inflation;economic

policies;damand;supply;prices;balance of payment

16 What is fiscal policy?

fiscal policy which controls a government revenue and spending

is in the hand of the ministry of finance

17 what are the main tools of fiscal policy?

they are government spending and taxation

18.who supervise in fiscal policy?

fiscal policy is supervise by ministry of finance

19.what is monetary policy?

 monetary policy which controls a nation’s money supply is supervised by each country’s Central Bank

20.what are the main tools of monetary policies?

Discount rate : lãi chiết khấu

Reserve requirements: quỹ dự trữ bắt buộc

open market operation: hoạt động thị trường mở

21 who supervise in monetary policy?

Monetary policy is supervise by the central bank, control money suply

22 what are the main objectives of Macroeconomic ?

to promote economic growth

to reduce unemplouyment

to keep inflation under control

23.different between microeconomics and macroeconomics?

microeconomics focuses on the actions of individual and industries

Macroeconomics analyses the economic activity of an entire country or the international marketplace

24.why is it said that microeconomics and macroeconomics are interdependent and complement one another?

Because there are many overlapping issues between the two fields

For example, increased inflation would cause the price of raw materials to increase for companies and in turn affect the end

product’s price charged to the public

Question for detail information:

1.what is the definition of public finance?

Public finance is concerned with how the Government raises and spend money

2 where does the government revenue come from?

The government revenue come from 3 majors resources:incomes taxes, corporate taxes, payroll taxes

3 what types of taxes contributed the largest proportion of tax revenue?Những loại thuế đóng góp tỷ trọng lớn nhất của doanh thu thuế?

Taxes contributes the largest proportion of tax revenues is

individual income tax -thuế thu nhập cá nhân

4 what are two kinds of fund from taxation?

There are federal funds and trust funds

5.what are federal funds?

Federal funds are general revenues, meaning congress and the president can decide to spend them on just about anything when they conduct the annual appropriations process

6 what are trust funds?

Trust funds can be used only to pay for very specific programs such as Social Security and Medicare

7.For what are federal funds used?

for infractructure: traffic system: roads/motor ways or traffic light Public building: hospital…

salaries for state employees

running the G body

8 For what are trust funds used?

 trust funds can be used only to pay for very specific programs

9 What is individual income tax?

Individual income tax is the tax imposed levied on individuals incomes.-Thuế thu nhập cá nhân là thuế đánh vào thu nhập cá nhân

10.What is corporate income tax?

corporateincome taxe is the tax imposed levied on business incomes-thuế thu nhập doanh nghiệp là thuế đánh vào thu nhập doanh nghiệp

11 What is customs duty?

customs duty is the tax imposed on imports – thuế hải quan

12.what is excise tax?

excise tax is the tax imposed on specific goods and services such

as wine, beer,hotels, restaurant… -thuế tiêu thụ đặc

biệt-13.why the government borrow money?

to make up the differences and finance the deficit

14 when the government borrow money, what must they do?

 They must pay money back and pay interest as well

15.why the government borrow from itself?

Because there are 2 types of fund: federal funds and trust funds The federal funds spends more money than it takes from tax

revenue The trust funds can be used to pay for very specific

dư và sử dụng nó để thanh toán cho các loại chi tiêu liên bang khác

16 How can the government borrow money?

Issuing and selling bonds : directly through website

Indirectly through banks and brokers

17 Who does government owe money to? Chính phủ nợ ai?

 Domestic investor: private investor ;federal reserve;state and local government

international investors:privates investor, other government;

international financial institutions( IMF/WB

18 what is the debt held by public?

debt held by public is the total amount the gorvernment owes to all of its creditors in the general public

19.what is the debt held by federal account?

debt held by federal account is the amount of money that the Treasury has borrowed from itself It seft means when the trust fundaccounts run a surplus, the treasury takes the surplus and use it to pay for other kinds of federal spending.

nợ được giữ bởi tài khoản liên bang là số tiền mà Kho bạc đã vay từ chính nó Nó có nghĩa là khi các tài khoản quỹ tín thác chạy thặng dư, kho bạc lấy thặng dư và sử dụng nó để thanh toán cho cácloại chi tiêu liên bang khác

20.what are the functions of public finance?

 allocation of resources: how to spend the government money and borrowing

distributive function

stablization function

 growth function

………

UNIT3:FISCAL POLICY

Question for detail information:

1 What is fiscal policy? What does fiscal policy control?

fiscal policy is a gorvernment policy related to taxation and

public spending

2 What is deficit spending?

deficit spending means spending funds obtained by borrowing or priting instead of taxation

3 Under what circumstance would deficit spending be helpful

to the economy?

low economic growth rate

high unemployment

4 How does deficit spending would be helpful? Give some

example for illustration?

when unemployment is high, so it will create more jobs.The economy will then expand because more money is being pumped into it

khi tỷ lệ thất nghiệp cao, chính phủ có thể thực hiện các dự án sửdụng những người lao động nhàn rỗi.Nền kinh tế sau đó sẽ mở rộng

vì nhiều tiền hơn được bơm vào đó

5.Under what circumstance would deficit spending be harmful to the economy?

when the economy is overheating , if government spends more money, there will be more money supply in the economy It may result inrising price or inflation

6.How does deficit spending would be harmful? Give one

example for illustration?

 when unemployment is low, it may result in rising price or inflation It creates more competition for scare workers and resources and this inflates wages and prices

7.What is expansionary fiscal policy?

Fiscal policy is expansionary when the government increase spending or reduces taxation or combines both of them

8.when should F.P be expansionary?

 Expansionary policy might occur when the economy is not growing fast enough or unemployment is too high or combines both of them

9.Can you give one examples for the F.P is expansionay?

By increasing spending or cutting taxes, the government leaves individuals and business with more money to purchase goods or invest in new equipment The result is higher employment and a growing economy

1 What is contractionay fiscal policy?

Fiscal policy is contractionary when taxation is increased or

public spending is reduced or combines both of them

11 Why F.P should be contractionary? Can you give one example for illustration?

 Because money in the market is high, the government has to reduce the amount of money in the economy available for

purchasing goods, thus decreasing spending, demand and pressure

on prices to help inflation under control

12.What inside factors should be considered in making decisions

on the fiscal policy?

 Inside factors are divide into economic factors and non

economic factors economic factors include:economic growth,

unemployment nad inflation.,non economic factors include

political considerations , wars, natural disaster and so on

 outside factors Include fiscal policies of other countries and

requirement of interninal financial institutions(IMF)

14.Why should the government consider the fiscal policies of

other countries?

To learn good ideas from them also give generous tax programs toattract investors to develop economy

15 What are tools of fiscal policy?

they are government spending and taxation

16.what are objectives of fiscal policy?

E.F.P: increase economic growth, decrease unemployment

 C.F.P : decrease inflation

18.why are decisions on fiscal policy influenced by fiscal policy of other country?

when making decisions of fiscal policy, the G need to consider F.P

of other country because these policy may have generous tax

program,which tempt multinational corporation to regulate their subsidiries.( tempt multinational corporation to transfer their

invetment to others countries)

19.what happens if the government prints more money and pumped it into the circulation(bơm nó vào tuần hoàn)?

If the govemnet print more money , it will increase the money supply

in the economy, without a corresponding increase n available goods; prices ad inflation- are likely to rise

15 what can the government do if it wants to run an

expansionary fiscal policy?

the Gov can increase gov spending or reduce tax rates or combine both

16 what can the government do if it wants to run an

contractionary fiscal policy?

 the Gov can reduce gov spending or increase tax rates or combine both

UNIT4: MONERTARY POLICY

Question for detail information:

???what is monetary policy?

 monetary policy which controls a nation’s money supply is

supervised by each country’s Central Bank

1.what are 3 tools of monetary policy?

Reserve requirement :dự trữ bắt buộc

discount rate :lãi chiết khấu

Open market operations: hoạt động thị trường mở

2.what is reserve requirement?

reserve requirement refers to a certain percentage of deposits that the central bank requires other banks to keep as reserves

 dự trữ bắt buộc đề cập đến một tỷ lệ tiền gửi nhất định mà ngân hàng trung ương yêu cầu các ngân hàng khác giữ làm dự trữ

3.what happens if the central bank increase/ decrease reserve requirement?

By changing the reserve requirements, government can increase

or decrease the money supply If the government increase the

reserve requirement, it contracts the money supply; banks have kept more reserves so they have less money to lend out

4.what is discount rate?

 The discount rate is the interest rates that the central banks charges

for loans to other banks

Lãi suất chiết khấu là lãi suất mà các ngân hàng trung ương tính

cho các khoản vay cho các ngân hàng khác.

5.what happens if the central bank increase/ decrease discount rate?

An increase in the discount rate makes it more expensive for banks

to borrow from government A decrease in the discount rate

makes it less expensive for banks to borrow.

6.what are open market operations?

open market operation means the central bank buying or selling government securities , mostly bonds

7 what happens if the central bank buys government bonds or sell government bonds?

8.what can the central bank do if it want to lower the money supply/ run a restrictive monetary policy?

the central bank can increase reserve requirement , increase

discount rate or sell government securities

9 what can the central bank do if it wants to increase the money supply/ run an expansionary monetary policy?

the central bank can reduce reserve requirement , reduce discount

rate or buy government securities.

1.what is expansionary monetary policy?

expansionary monetary policy means the central bank derease reserve requirement, discount rate or buying bonds it can increse lending capacity./ when the economy is slow down

11.what is restrictive monertary policy?

restrictive monertary policymeans the central bank increase

reserve requirement, discount rate or selling bonds it can reduce investment , consumption,or even gov expenditure./ when the

economy is overheating

12.what are objectives of expansionary monetary policy?

promote economic growth

 create more jobs : unemployment decrease

 increase the money supply

13 .what are objectives of restrictive monetary policy?

decrease the money supply

to cool an overheating economy.

14 what are objectives of monetary policy?

price stability

exchange stability

full employment and maximum output

economic growth

UNIT5: FINANCIAL MARKET

Question for detail information:

1.What are financial markets?

financial markets are the markets in which securities are exchanged