51ºÚÁÏ

6.3.1 components of the current account of the balance of payments:• current account: trade in goods, trade in services, primary income and secondary income• definition of balance and imbalances (deficit and surplus) in the current account of the balance of payments
6.3.2 calculation of:• balance of trade in goods• balance of trade in services• balance of trade in goods and services• current account balance (CAB)
6.3.3 causes of imbalances in the current account of the balance of payments
6.3.4 consequences of imbalances in the current account of the balance of payments for the domestic and external economy
6.4 Exchange rates
6.4.1 definition of exchange rate
6.4.2 determination of a floating exchange rate
6.4.3 distinction between depreciation and appreciation of a floating exchange rate
6.4.4 causes of changes in a floating exchange rate: demand and supply of the currency
6.4.5 AD/AS analysis of the impact of exchange rate changes on the domestic economy’s equilibrium national income and the level of real output, the price level and employment
6.5 Policies to correct imbalances in the current account of the balance of payments
6.5.1 government policy objective of stability of the current account
6.5.2 effect of fiscal, monetary, supply-side and protectionist policies on the current account