Lesson 3: Economic Growth

Slides:

Advertisements

Similar presentations

EST 612. Environmental Policy and Governance The United States and China: A Brief Comparison David A. Sonnenfeld Dept. of Environmental Studies College.

Advertisements

C h a p t e r 1 Thinking About Macroeconomics

PowerPoint Presentation by Charlie Cook Copyright © 2004 South-Western. All rights reserved. Chapter 1 The Macroeconomy.

Canada Macroeconomics. GDP GDP stands for the gross domestic product. This is the number for how much percentage of economic growth has happen in a specific.

Ka-fu Wong © 2007 ECON1003: Analysis of Economic Data Supplement1-1 Supplement 1: Comparing the economic growth of China to other countries.

Table 9.2Trend in Real GDP per Capita and Productivity (annual rates) Growth in real GDPin output per capitaper worker hour Year (%) (%) 1960–

Spain: the Canada of Europe? An economic comparison of two vastly different countries, with important elements in common Luis Seco, University of Toronto.

1. Understand how to determine a country’s level of development. 2. Understand how education levels affect economic development. 3. Understand how to.

International Comparison. Economy 2 Basic Facts Country Population, million (2011) Currency GDP, billion $ (2011) GDP per capita (PPP), $ (2011) Corporate.

AP Economics Mr. Bernstein Module 37: Long Run Economic Growth March 30, 2015.

Figure 14.1 Economic Growth in the ADE/ASR model.

CONTEMPORARY ECONOMICS© Thomson South-Western 12.2Living Standards and Labor Productivity Growth  Explain why there is such a large difference among countries.

1. THE SIGNIFICANCE OF ECONOMIC GROWTH Learning Objectives 1.Define economic growth and explain it using the production possibilities model and the concept.

Calculating economic growth. The formula for calculating % change in real GDP is the following % change in real GDP = final value of real GDP – initial.

9. Fundamental Concepts of Macroeconomics 1.Objectives and Methods of Macroeconomics 2.Economic Growth 3.National Accounting.

Development of Countries PowerPoint goal: Apply different “measures” to see how ‘developed’ a country is 1. Print the following 2 pages. Directions: 2.

Module Interpreting Real Gross Domestic Product KRUGMAN'S MACROECONOMICS for AP* 11 Margaret Ray and David Anderson.

1 Defining Economic Growth Economic growth: an increase in Real GDP. Small changes in rates of growth  Big changes over many years Compound Growth Rule.

Lesson 1 - My Country Does What? Concepts: Standard of Living Gross Domestic Product (GDP) GDP per Capita Purchasing Power Parity.

Interpreting Real Gross Domestic Product

Module 11 Mar  Aggregate output is the total quantity of final goods and services produced within an economy  Real GDP – the total value of all.

 Try Getting started P139  Name 3 countries you think have high/ low EG rates _by_real_GDP_growth_rate_(latest_year)

Economic Growth. Overview: Economic Growth  Economic growth lets standard of living rise for entire economy.  Key measurement = GDP; better is GDP per.

E. Napp Economic Growth In this lesson, students will be able to identify factors which lead to macroeconomic growth. Students will be able to identify.

Between the years of 1991 and 2011, the nominal GDP in America increased from $5.9 trillion to $15 trillion. What conclusions can we draw about America’s.

WARM UP What kinds of things would you need to know to measure if an economy is successful? (in other words, if a country has a healthy economy)

Economics 13-4 Economic Growth pages ECONOMIC GROWTH ESSENTIAL QUESTIONS: What are two measures of economic growth? Why is economic growth important?

Each U.S. State has been renamed with a country whose GDP is very similar; adding up the GDPs of all the countries names would equal the GDP of the U.S.

GDP that is measured at current prices is called GDP that has been adjusted for any price changes over time is called Let’s see how it works through one.

Pakistan Josh Demographics of Pakistan. Population of Pakistan Population- The number of people that are currently living in the country at the time of.

TURN AND TALK What kinds of things would you need to know to measure if an economy is successful? -In other words: how do you know if a society is wealthy?

Wealth How do we measure wealth?. Gross domestic product (GDP) This measures the wealth created in a country in a given year (includes the production.

The lessons of growth theory …can make a positive difference in the lives of hundreds of millions of people. These lessons help us  understand why poor.

Developed & Developing Countries factbook/

Macro-economic Background 10. Macro-economic Background GDP per head: USD 40,440 (2011) OECD average USD 33,976 (2010) Annual GDP growth 2011: 2.5% OECD.

ECONOMIC GROWTH CHAPTER-4 ECONOMIC GROWTH CHAPTER-4 1.

Beginning Activities Title today’s lesson: Economic Growth Research Activity: Factors Influencing Economic Growth Mission Statement: To prepare you for.

World Population, (in millions) Millions Year Total: 2,516 Total: 5,759 Total: 8,472 Total: 10,185 World Population billion billion.

浙江省. 浙江省位于中国东南沿海东濒东海，南界福建，西与江西、安徽相连，北与上海，江苏为邻。境内最大的河流钱塘江，因江流曲折，又称浙江，省以江名，简称为浙。

“ 东方明珠 ”── 香港和澳门东北师大附中王瑶. 这是哪个城市的夜景？香港这是哪个城市的夜景？澳门.

Module Long-run Economic Growth KRUGMAN'S MACROECONOMICS for AP* 37 Margaret Ray and David Anderson.

Growth and the Business Cycle Krugman Section 1 Module 2.

David A. Sonnenfeld Dept. of Environmental Studies

Population Data, 1810 – 1860 (Population Figures in Thousands)

Eco 200 – Principles of Macroeconomics

Human Development Index

Figure 9-1 Real GDP Growth in Canada and the United States

U.S. and World Economies September 19, 2017.

U.S. and World Economies GOVT 2305, Module 1.

نام درس: اقتصادتوسعه استادمربوطه: جناب آقای دکترفطرس تهیه کنندگان:زهرا بیات،زهرا کلهری،مریم مردانی ارائه دهنده: زهرابیات پاییز1395.

Measurement of Economic Performance

INTRODUCTION AND MEASUREMENT

NOV - Handouts November 19, 2009

Population Practice Problems

Lesson 6.5 Percents of Increase and Decrease

ECONOMIC MEASUREMENTS Unit 2, Part 2

Eco 200 – Principles of Macroeconomics

ECONOMICS: March 20 Warm-up: Give an example of the following (items that would NOT be included in GDP): 1. an intermediate product; 2. a secondhand.

Module Long-run Economic Growth

Stimulating Economic Growth

Chapter 17 How Economies Grow and Develop.

Review Identify the 3 key parts of the definition of GDP

Chapter 8 Economic Growth.

Minnesota’s GDP growth rate relative to the United States’ GDP growth rate, , %

Projected annual growth rate, NHE per capita NHE, 2021

Chapters 1-3 Test on Friday, February 2 (warm-ups due on test day)

Module Long-run Economic Growth

Economic Growth Read Chapter 8 pages 168 – 182

EXHIBIT 1 Hypothetical and Actual Business Cycles

CUSTOM INTELLIGENCE SERVICES

Presentation transcript:

Lesson 3: Economic Growth Unit 3: Macroeconomics Lesson 3: Economic Growth

Measuring Economic Growth real GDP per capita: real GDP divided by the total population

Question #1: Why is real GDP per capita considered the best measure of standard of living? Explain. A Comparison: real GDP in 2007 United States $13.8 trillion Canada $1.3 trillion A Comparison: real GDP per capita in 2007 United States $13.8 trillion 303 million $45,845 Canada $1.3 trillion 33 million $39,195

GDP per capita

Question #2: What is a fundamental flaw of using real GDP per capita to measure standard of living? Explain.

Measuring Economic Growth GDP and Population Growth ● economic growth = percent change of real GDP over a given period of time ● a nation’s population grows over time ● So, real GDP must outpace population growth to improve standard of living!