Open Economy Macroeconomics: Balance of Payments, National Income

The compilation of these Economics Notes makes students exam preparation simpler and organised.

Open Economy Macroeconomics

Can you imagine if your favourite soft drink was unavailable in India? Or if you couldn’t buy any of your beloved Apple products? Sounds like a nightmare! The reason we have access to these products is that we are an open economy that trades with other nations. Let’s look at some concepts of open economy macroeconomics.