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1 Suggested Videos · 2 Basic Concepts of Macroeconomics. 2.1 Income and Output. 2.2 Unemployment. 2.3 Inflation and Deflation · 3 Macroeconomic Policies. 3.1 2.1 SOME BASIC CONCEPTS OF MACROECONOMICS. One of the pioneers of the subject we call economics today, Adam. Smith, named his most influential work – AnBack to Basics: Economic concepts explained v Foreword. Maurice Obstfeld some of the notions of modern macroeconomics are rooted in the. PDF Pack. People also downloaded these PDFs 1.3 Basic concepts in macroeconomics Certain concepts are instrumental to macroeconomic analysis and will be We believe that exercises are essential for students to learn this material. They give students a sense of what they ought to know, since these exercises