Upcoming SlideShare
×

# Ec4004 Lecture1 Growth Matters

284 views

Published on

Published in: Education, Technology, Business
• Full Name
Comment goes here.

Are you sure you want to Yes No
Your message goes here
• Be the first to comment

• Be the first to like this

### Ec4004 Lecture1 Growth Matters

1. 1. Text Introduction to EC4004 Macroeconomics Lecture 13
2. 2. Micro. O-vah.
3. 3. Macro Weeks 7 - 12
4. 4. #
6. 6. 6.7 Billion
7. 7. 300 born
8. 8. Every.
9. 9. Minute.
10. 10. 1/10 Born to Teenagers
11. 11. #
12. 12. 16/300
13. 13. <5.
14. 14. 1 Mother will die
15. 15. 40,000 per month
16. 16. 2.3 billion tons of carbon dioxide
17. 17. Per Month.
18. 18. 1/2
19. 19. 3 Tonnes
20. 20. 3 Tonnes
21. 21. \$65.61 trillion
22. 22. 2%
23. 23. 30%
24. 24. 4%
25. 25. 10% is Arable.
26. 26. 250,000km
27. 27. 322 Boundaries
28. 28. 194 independent states and 70 dependencies
29. 29. Ethnicity
30. 30. Culture
31. 31. Race
32. 32. Language
33. 33. 8.6 million refugees
34. 34. 87%
35. 35. 66
36. 36. /<#>
37. 37. Macroeconomics
38. 38. Study of Economy as a whole
39. 39. ?
40. 40. All Households
41. 41. All Firms
42. 42. Government
43. 43. Measure Output Each Year
44. 44. Produce Consume Invest Export Import
45. 45. GDP: Sum of all ﬁnal goods and services produced in the economy
46. 46. Example.
47. 47. 10* Guns 20* Butter Pguns = €10 Pbutter = €5 Value of output: 10*10+20*5 = 200
48. 48. Growth of GDP
49. 49. Growth rate of real GDP for year t = (( Yt− Yt−1)/ Yt−1)− 1 Multiply by 100 to get the growth rate of real GDP in percent per year.
50. 50. Example: Y2006=105; Y2005=100 Growth Rate = 105-100/100-1*100 =5%
51. 51. Real GDP
52. 52. Multiply each year’s quantity of output of each good by the price of the good in a base year. GDP in constant Euros Chain-weighted real GDP
53. 53. (nominal GDP)/(implicit price level) = real GDP or implicit price level = (nominal GDP)/ (real GDP)
54. 54. www.gapminder.org
55. 55. 086 399 83 06
56. 56. Next Time Growth Theory Read Barro Chapters 2&3
57. 57. Introduction to EC4004 Macroeconomics Lecture 13