Energy and Economy Energy Modelling Lab. Department of Energy Studies, Energy Systems Division, Ajou University Prof. Suduk Kim
A Look at Short-Run Economic Fluctuations
Recession and Oil Price Source:
A Look at Short-Run Economic Fluctuations
Crude Oil Price: Historical Trend
Crude Oil Price Fluctuation Source: China Coal Impact – 30% production reduction
Crude Oil Price Fluctuation ( ) Source: China Coal Impact – 30% production reduction
OPEC Production & Crude Oil Prices Source:
Non-OPEC Production & Crude Oil Prices Source:
U.S. Petroleum Consumption Source:
Gold and Oil Prices Historical Relationship Source: The Underlying Causes of Oil Price Fluctuations,The Underlying Causes of Oil Price Fluctuations
Figure 1 The Circular-Flow Diagram
GDP and Its Components Copyright©2004 South-Western
Real and Nominal GDP Copyright©2004 South-Western
GDP, Life Expectancy, and Literacy Copyright©2004 South-Western
The Typical Basket of Goods and Services
Two Measures of Inflation
Growth and Investment
The Variety of Growth Experiences Copyright©2004 South-Western
The U.S. Government Debt
The Breakdown of the Population in 2001
Unemployment Rate since 1960
U.S. Real GDP Growth since 1900
An Adverse Shift in Aggregate Supply
Accommodating an Adverse Shift in Aggregate Supply
Energy & Economy
Future Energy Path?
Future Energy Price? (2002 $ per barrel)
Oil Price Forecasting
Energy & Economy