Macro – Economic Indicators

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Presentation transcript:

A.S 3.5 Demonstrate understanding of macro-economic influences on the New Zealand Economy 6 Credits

Macro – Economic Indicators Inflation Rate Economic Growth Unemployment Current Account Balance

Government Goals Price Stability Economic growth A balanced current account Full employment

Government Policies Monetary Policy Fiscal Policy Supply side polices Trade agreements

Calculations!! Some calculations you may need to make in this A.S Rate of growth Rate of inflation Terms of Trade Operating Balance Balance of Payments current account balance The multiplier effect

Calculations Real GDP = 𝑁𝑜𝑚𝑖𝑛𝑎𝑙 𝐺𝐷𝑃 𝑃𝑟𝑖𝑐𝑒 𝐼𝑛𝑑𝑒𝑥 (𝐶𝑃𝐼) ×1000 Where CPI is the official measure of inflation in New Zealand.

Do Now – Economic Growth If the government had a macroeconomic goal to achieve 4% economic growth, the data above to explain whether the goal was achieved ? Economic Growth = 140646 −137216 137216 ×100 = 2.50% (2dp) This means the goal of reaching 4% economic growth by the government was not reached as in the year 2010 the NZ economy only achieved 2.50% economic growth

Worksheet - GDP 2a.

Answers