Download presentation
Presentation is loading. Please wait.
Published byEthel Ford Modified over 9 years ago
1
Lecture 2 The Data of Macroeconomics, Macroeconomic Accounts 1 1.Measuring the Value of Economic Activity: GDP 2.Measuring the Cost of Living: The CPI 3.Measuring Joblessness: The Unemployment rate
2
Lecture 2 The Data of Macroeconomics Macroeconomic Accounts 2 Why GDP is important?
3
3 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts
4
4
5
5 Flow variables: GDP, income, expenditure, # of people losing their jobs, budget deficit Stock: variables: wealth, # of unemployed people, government debt, international reserves
6
6 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts Rules for Computing GDP The treatment of inventories Adding different types of goods Used goods Intermediate goods and value added Imputation
7
7 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts Real and nominal GDP The GDP deflator Chain-weighted measures of real GDP
8
8 Euro area: annual rates of growth Nominal GDPReal GDPGDP deflator 19972.22.6-0.4 19983.92.91.0 19994.63.11.5 20005.24.01.3 20014.32.02.4 20023.50.92.6 20032.90.82.1 20044.02.11.9 20053.41.51.9 20064.62.81.8 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts
9
9 The Components of Expenditure Y = C + I + G + NX Output i.e. GDP (Y) Consumption (C) Investment (I) Government purchases (G) Net exports (NX)
10
10 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts Components of GDP (1999-2006, % of GDP) Consumption (C)Investment (I)Government purchases (G) Australia58.325.218.1 Germany58.918.619.0 France56.319.823.4 UK64.717.720.5 Italy59.220.719.5 Japan57.024.017.6 Canada56.020.619.2 Switzerland60.322.011.5 USA69.719.515.4 Euro Area57.120.920.3
11
11 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts
12
12 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts
13
13 Personal disposable income Personal income National income NDP GDP C Indirect taxes Depreciation I G X-Z GDP and Its Components Lecture 2 The Data of Macroeconomics Macroeconomic Accounts
14
14 Other Measures of Income Gross National Product Net National Product National Income Personal Income Disposable Personal Income Lecture 2 The Data of Macroeconomics Macroeconomic Accounts
15
15 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts Inflation The Consumer Price Index The GDP Deflator
16
16 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts
17
17 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts The Unemployment Rate Employed Unemployed Labor Force Unemployment Rate Labor Force Participation Rate
18
18 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts
19
19 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts
20
20 Lecture 2 The Data of Macroeconomics Macroeconomic Accounts From Economic Statistics to Economic Models
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.