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Ec4004 Lecture1 Growth Matters
1.
Text Introduction to
EC4004 Macroeconomics Lecture 13
2.
Micro. O-vah.
3.
Macro Weeks 7
- 12
4.
#
5.
Ready?
6.
6.7 Billion
7.
300 born
8.
Every.
9.
Minute.
10.
1/10 Born to
Teenagers
11.
#
12.
16/300
13.
<5.
14.
1 Mother will
die
15.
40,000 per month
16.
2.3 billion tons
of carbon dioxide
17.
Per Month.
18.
1/2
19.
3 Tonnes
20.
3 Tonnes
21.
$65.61 trillion
22.
2%
23.
30%
24.
4%
25.
10% is Arable.
26.
250,000km
27.
322 Boundaries
28.
194 independent states
and 70 dependencies
29.
Ethnicity
30.
Culture
31.
Race
32.
Language
33.
8.6 million refugees
34.
87%
35.
66
36.
/<#>
37.
Macroeconomics
38.
Study of Economy
as a whole
39.
?
40.
All Households
41.
All Firms
42.
Government
43.
Measure Output
Each Year
44.
Produce Consume Invest
Export Import
45.
GDP: Sum of
all final goods and services produced in the economy
46.
Example.
47.
10* Guns 20* Butter Pguns
= €10 Pbutter = €5 Value of output: 10*10+20*5 = 200
48.
Growth of GDP
49.
Growth rate of
real GDP for year t = (( Yt− Yt−1)/ Yt−1)− 1 Multiply by 100 to get the growth rate of real GDP in percent per year.
50.
Example:
Y2006=105; Y2005=100 Growth Rate = 105-100/100-1*100 =5%
51.
Real GDP
52.
Multiply each year’s
quantity of output of each good by the price of the good in a base year. GDP in constant Euros Chain-weighted real GDP
53.
(nominal GDP)/(implicit price
level) = real GDP or implicit price level = (nominal GDP)/ (real GDP)
54.
www.gapminder.org
55.
086 399 83
06
56.
Next Time
Growth Theory Read Barro Chapters 2&3
57.
Introduction to
EC4004 Macroeconomics Lecture 13
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