Understanding How the Economy Works and Key Indicators – Keynote
A keynote is a speech or presentation that establishes the main underlying theme of a conference or event, usually to a large audience and lasting approximately 45 minutes.
This keynote will explain to non-economists the mystery of the workings of a mixed market economy such as the UK.
Using plain English, but with no equations, only a flip chart, the components of the Economy and how they interact will be explored.
Particular emphasis will be placed on how commercial banks both create and destroy money, how the Monetary Policy Committee reach their decisions on the rate of interest and why the Government has much less control over economic activity than is popularly believed.
The dynamic of the foreign exchange markets and how the price of a currency is determined will be illustrated.
The key indicators of economic activity i.e. inflation, money supply and credit, retail sales, nominal GDP, the exchange rate, the Governments budget position and asset prices will be explained.