The BC Economy 2011/2012 SS 10 Unit 4.

Slides:

Advertisements

Similar presentations

The Goods Market in an Open Economy

Advertisements

Inflation & Deflation Recap & move forward….

High-Level Seminar on E- Communications The development of the ICT sector during the crisis: International comparisons Information Technology Outlook Graham.

John Rose Chief Economist Financial Services The Economic Impact of the Late Night Economy June 28, 2012 The Economic Impact of the Late Night Economy.

Economics What is it? Why should I care?. Types Macroeconomics – Looks at the economy as a whole concentrating on things like interest rates, inflation.

The Economic Importance of Tertiary and Quaternary Industry

Introduction to Business © Thomson South-Western ChapterChapter Economic Activity Measuring Economic Activity Economic Conditions Change.

Measuring GDP and Economic Growth Chapter 1 Instructor: MELTEM INCE

SLIDE 1 British Columbia. SLIDE 2 Economy SLIDE 3 Real GDP annual per cent change BC growth outperforms Canada and the US Forecast Sources: Statistics.

Lecture 2: Basic Definitions GDP Inflation Rate Unemployment Rate Trade and Budget Deficits.

Concept: Production – Distribution - Consumption

The study of the economics of countries. The big picture.

© OECD/IEA 2014 Medium-Term Gas Market Report International Economic Forum of the Americas, Montreal June 10, 2014 Maria van der Hoeven, Executive Director,

Skycargo.com Ram C. Menen Divisional Senior Vice President Cargo Mumbai, India 24 th January 2008 Emerging Market: The Road Ahead.

Introducing the Contemporary Business Environment

Warm-up 1.What is the opportunity cost for Egypt to produce 1 bushel of corn? Cotton? 2.Same for Venezuela? 3.Who should specialize in corn? Why? 4.Who.

The Economic Importance of the Coal Industry in B.C. and Canada Michelle Mondeville Director of Communications and Stakeholder Relations, Coal Association.

The World Economy and BC presented to Mortgage Investment Association of BC June 21, 2011 by Bernie Magnan Assistant Managing Director and Chief Economist.

Macroeconomics Gross Domestic Product. Categories of GDP C - Personal Consumption Expenditure Consumer purchases- includes durable & nondurable goods.

© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 2 SLIDE Measuring Economic Activity Economic Conditions.

1 Simple View of Exchange Rate Determination. 2 EUR exchange rate against the dollar: EUR value in USD.

Fiscal Policy If your family or you made a budget to calculate family expenses than you are practicing a key IDEA that is related to Fiscal Policy = Balancing.

Unit 1.04 The Business Cycle Measuring Economic Activity.

Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER Measuring Economic Activity Economic Conditions Change 2-3.

QB March 2011 Presentation by the South African Reserve Bank to the Portfolio Committee on Finance Quarterly Bulletin March April 2011.

INFLATION CONTROL OF VIETNAM 2012 Ms. Busaba Butrat Thai Trade Center Hanoi May 2012.

1 1-1 MUSOLINO How Economics Affects Business: The Creation and Distribution of Wealth 2 CHAPTER.

PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University 1 © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned,

RUSSIA. GDP = 5.6% “Gross Domestic Product” means all of a countries production. It is what everything that country owns added all together. Inflation.

J.P.Morgan Chase S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L Major Trends in the Global Economy Prof. Jacob A. Frenkel Chairman, JPMorgan.

Economic Vocabulary Terms. What is Economics? Social science that seeks to describe the factors which determine the production, distribution and consumption.

Economic Environment. Learning outcomes By studying this section students will be able to:By studying this section students will be able to: –identify.

Business cycles and markets Gross Domestic Product (GDP)  Attempt to measure economic activity in a given country during a given year  Y = C + I + G.

GLOBAL SCENARIO AND ECONOMIC OUTLOOK FOR INDIA Dr. SK LAROIYA DEPARTMENT OF ECONOMICS HANSRAJ COLLEGE UNIVERSITY OF DELHI.

Contraction TroughExpansion Peak The business cycle is a period of macroeconomic expansion followed by a period of contraction. During the expansion phase,

How do the countries of India, China, Japan, and North Korea answer basic economic questions?

What businesses need to know about the US current account deficit Based on the article By Diana Farrell and Susan Lund The McKinsey Quarterly, 2007 No.

Economics in Asia. All Economic Systems seek to answer the three basic economic questions 1) What to produce? 2)How to produce? 3) For whom to produce?

Economic and Commercial Real Estate Outlook By Lawrence Yun, Ph.D. Chief Economist National Association of REALTORS ® May 14, 2015 Washington, D.C.

Gross Domestic Product (GDP) Unit What is growth?

Introduction to Business © Thomson South-Western ChapterChapter Economic Activity Measuring Economic Activity Economic Conditions Change.

Achievement Standard 3.5 Demonstrate understanding of macro-economic influences on the New Zealand economy.

Economics The social science that deals with the production, distribution, and consumption of goods and services.

AP Macroeconomics In-Class Final Exam Review. Economic growth A sustained increase in real per capita GDP stimulate economic growth - Technological progress.

NEXT Economic Systems Trade Barriers Factors that influence economic growth All Mixed Up Economies of nations

1 Office of the Chief Economist Factors influencing Australia’s gas supply and demand Mark Cully Chief Economist 8 March 2016.

Wealth Test Review.

Economics The social science that deals with the production, distribution, and consumption of goods and services.

In-Class Final Exam Review

Bell Ringer How many different economic systems can you name?

Centre and States Combined

GDP: Measuring the National Economy

2 Economic Activity 2-1 Measuring Economic Activity

Economic Systems.

Balance of Payments.

PAPER, PAPERBOARD AND WOOD PULP

Recession In economics, a recession is a business cycle contraction which results in a general slowdown in economic activity. Macroeconomic indicators.

GDP, Spending, and Economic Growth

Macroeconomics Review

The rush that never ended…

2 Economic Activity 2-1 Measuring Economic Activity

Economic Systems.

A Trade and Economic Policy for America

Economic Activity in a Changing World

Financial Markets and International Capital Flows.

Mechanics of Foreign Exchange (FOREX)

Manufacturing in the UK

Economic Systems: SE Asia

Economic Systems.

Presentation transcript:

The BC Economy 2011/2012 SS 10 Unit 4

How has the BC economy changed? developing the liquefied natural gas (LNG) sector and attracting major project investment throughout the province focus on small business and services, with the service sector providing almost four-fifths of our jobs strengthening ties with Japan, China, Korea and India to become a trade hub for goods, services and people travelling between Asia and North America http://www.workbc.ca/Statistics/People-the-Economy/B-C-s-Economy.aspx#sthash.iBwCnE7l.dpuf

What is the GDP? GDP= Gross Domestic Product a measure of the value added to the economy by the current productive activities of individuals, businesses, governments and non-residents

How does this affect the job market? Over the next decade, the demand for workers is expected to surpass the supply: 450,000 new jobs + 676,000 retirements = 1,126,000 total job openings http://www.workbc.ca/Statistics/People-the-Economy/B-C-s-Economy.aspx#sthash.iBwCnE7l.dpuf

Jobs will be available in... green technology, digital media and life sciences traditional industries such as natural resources (expected to grow through innovation) service industries including health care, high-tech and retail sales

What was the GDP based on in 2012?

Who do we sell to?

How did the BC economy do in 2011? 2011second consecutive year of strong export growth (13.9%) due to high commodity prices. export demand from the European and US markets was subdued - due to their weakened economies offset by growth in the Asia Pacific markets, and BC’s exports rebounded to their pre-recession levels last year. In addition, BC’s real GDP grew by 2.9% in 2011, and further gains were made in the first quarter of 2012.

BC’s Debt? In an attempt to further stimulate their economies, BC and many other Canadian provinces have run fiscal deficits, and seen a corresponding growth in their debt loads for the past few years (2010-2011) Current government wanted to run a balanced budget, but hasn’t really succeeded