Applied Macro Examples for Economics Exams
•
2 likes•2,818 views
This new video looks at loads of up to date examples on key macroeconomic indicators for different countries ahead of the 2019 summer economics exams.
Recommended
Recommended
More Related Content
Similar to Applied Macro Examples for Economics Exams
Similar to Applied Macro Examples for Economics Exams (20)
More from tutor2u
More from tutor2u (20)
Recently uploaded
Recently uploaded (20)
Applied Macro Examples for Economics Exams
- 1. Great Applied Macro Examples A Level Macro Update 2019
- 2. Primary product exporters ZambiaGhana Source: Observatory of Economic Complexity
- 3. Biggest manufacturing export countries Which country exports mobile cranes?Which country exports LCD screens? Source: Observatory of Economic Complexity
- 4. Free Trade Agreements US – Mexico – Canada Trade Agreement ASEAN European Free Trade Association EU-Canada Free Trade Agreement EU-Japanese Free Trade Agreement US-South Korea Free Trade Agreement
- 5. European Union Customs Union Southern African Customs Union Eurasian Customs Union Customs Unions
- 8. Single Markets CARICOM EU SINGLE MARKET ASEAN
- 9. Current account surpluses countries Source: IMF World Economic Outlook, April 2019 Botswana 8.1% of GDP Germany 7.1% of GDP South Korea 4.6of GDP Norway 7.4% of GDP
- 10. Current account deficit countries Source: IMF World Economic Outlook, April 2019 USA -2.4% of GDP India -2.5% of GDP Ethiopia -6% of GDP UK -4.2% of GDP
- 11. Free floating exchange rates Source: IMF Classification of Currency Regimes, 2018 Polish Zloty Swedish Krona The Euro (19)Sterling
- 12. Managed floating exchange rates Turkish lira South African rand Brazilian realThailand baht
- 13. Fixed & semi-fixed exchange rates Chinese Yuan Danish krona Hong Kong dollar Croatian kuna
- 15. Highest human development ranking HDI Ranking Country Human Development Index (HDI) Life expectancy at birth Expected years of schooling Mean years of schooling Gross national income (GNI) per capita (2011 PPP $) 1 Norway 0.953 82.3 17.9 12.6 68,012 2 Switzerland 0.944 83.5 16.2 13.4 57,625 3 Australia 0.939 83.1 22.9 12.9 43,560 4 Ireland 0.938 81.6 19.6 12.5 53,754 5 Germany 0.936 81.2 17.0 14.1 46,136 6 Iceland 0.935 82.9 19.3 12.4 45,810
- 16. Lowest human development ranking Source: UNDP HDI data for 2018 HDI Ranking Country Human Development Index (HDI) Life expectancy at birth Expected years of schooling Mean years of schooling Gross national income (GNI) per capita (2011 PPP $) 184 Sierra Leone 0.419 52.2 9.8 3.5 1,240 185 Burundi 0.417 57.9 11.7 3.0 702 186 Chad 0.404 53.2 8.0 2.3 1,750 187 South Sudan 0.388 57.3 4.9 4.8 963 188 Central African Republic 0.367 52.9 7.2 4.3 663 189 Niger 0.354 60.4 5.4 2.0 906
- 17. Highest income inequality HDI rank Country HDI Value Quintile ratio Palma ratio Gini coefficient 144 Zambia 0.588 21.1 5.0 57.1 101 Botswana 0.717 23.2 5.8 60.5 129 Namibia 0.647 20.1 5.8 61.0 113 South Africa 0.699 28.4 7.0 63.0
- 18. Lowest income inequality HDI rank Country HDI Value Quintile ratio Palma ratio Gini coefficient 80 Azerbaijan 0.757 2.3 0.6 16.6 88 Ukraine 0.751 3.5 0.9 25.0 25 Slovenia 0.896 3.7 0.9 25.4 6 Iceland 0.935 3.6 0.9 25.6
- 19. Highest dependency on overseas aid Net official development assistance received HDI rank Country (% of GNI) 187 South Sudan 64.5 171 Malawi 23.5 168 Afghanistan 20.6 98 Tonga 19.7 119 Palestine, State of 15.7 158 Rwanda 13.9
- 21. Highest government (national) debt Country Gross Government Debt in 2019 Japan 237 Venezuela 214 Sudan 178 Greece 174 Italy 133 Singapore 109 United States 107
- 23. Lowest government (national) debt Country Gross Government Debt as % of GDP in 2018 Macao 0 Brunei Darussalam 2.5% Afghanistan 7% Estonia 8% Botswana 13% Russia 14%
- 24. Fast-growing countries India 7.3% Ethiopia 7.7% China 6.3% Emerging market and developing countries are forecast to grow by 4.4% in 2019
- 25. Slow-growing and recession-hit economies Turkey -2.5% Argentina -1.2% Venezuela -25% Source: Growth forecasts for 2019 from the IMF, April 2019
- 26. High unemployment countries South Africa 27.5% Brazil 11.4% Greece 18.5% Source: IMF WEO April 2019, % of the labour force
- 27. Low unemployment countries Germany 3.5% UK 4.0% Thailand 1.2% Czech Republic 3.1% Source: IMF WEO April 2019, % of the labour force
- 28. Highest rate of inflation Zimbabwe 73% Argentina 44% Venezuela 10 million % Source: IMF WEO April 2019, per cent
- 29. Countries experiencing deflation or low inflation Switzerland 0.7% Denmark 0.8% Saudi Arabia -0.7% The IMF is forecasting that only one country will experience deflation in 2019 – Saudi Arabia
- 31. Great Applied Macro Examples A Level Macro Update 2019
Editor's Notes
- Primary products are goods that are available from cultivating raw materials without a manufacturing process. Significant primary product industries include agriculture, fishing, mining, and forestry
- Good examples here for scaled competitive advantage
- A free trade area (FTA) is where there are no import tariffs or quotas on products from one country entering another.
- A customs union comprises countries which agree to abolish tariffs and quotas between member nations to encourage free movement of goods and services. A customs union also adopt a common external tariff (CET) on imports from non-members countries. Specific knowledge of the economics of a customs union is needed for the exam
- A trading bloc is essential an agreement between countries to lower their import tariffs and perhaps extend this to reducing the use of non-tariff barriers to trade. In a free trade area, each country continues to be able to set their own distinct external tariff on goods imported from the rest of the world.
- A single market is a deeper form of integration than a customs union. A single market involves the free movement of goods and services, capital and labour. In addition to a common external tariff, a single market also tries to cut back on the use of non-tariff barriers such as different rules on product safety and environmental standards replacing them with a common set of rules governing trade in goods and services within the common market. Countries such as Norway and Switzerland are outside of the European Union, but they are members of the EU single market, paying into the EU budget to take advantage of some of the benefits of the free flow of capital, labour, goods and services.
- Norway 7.4% of GDP Germany 7.1% of GDP South Korea 4.6% of GDP Botswana 8.1% of GDP
- UK -4.2% of GDP United States -2.4% of GDP Ethiopia -6% of GDP India -2.5% of GDP
- UK Poland Sweden Euro
- official development assistance (ODA) budget which is currently set by law at 0.7 percent of gross national income (GNI). Johnson said that in doing so, "We could make sure that (the money) was spent more in line with Britain’s political, commercial and diplomatic interests,”. As our infographic shows, the UK spent £14.06 billion on ODA in 2017, in line with the 0.7 percent law. The largest single recipient of bilateral aid was Pakistan with a figure of £402.5 million.
- Yesterday, Greece emerged from its bailout program after eight years of brutal austerity. That bailout program was the biggest in global financial history, with the European Union, European Central Bank and International Monetary Fund providing Athens with €289 billion ($330 billion) across three major installments in 2010, 2012 and 2015. Its emergence has been heralded as a symbolic milestone and even though the country is now able to borrow at market rates, its economic pain certainly hasn't come to an end.
- China 6.3% Ethiopia 7.7% India 7.3% Vietnam 7.1%
- Argentina -1.2% Turkey -2.5% Venezuela -25%
- South Africa 27.5% Greece 18.5% Brazil 11.4%
- Czech Republic 3.1% Germany 3.5% Thailand 1.2% UK 4.0%
- Argentina 44% Venezuela 10 million % Zimbabwe 73%
- Saudi Arabia -0.7%
- According to reporting by the Financial Times, Coca-Cola was raising its prices in the country for the first-time in 27 years. Nissin cup instant noodles will also cost ¥14 to ¥32 (US$0.04 - US$0.08) more soon. Prices at Starbucks have also increased.