1 / 18

Agenda

Agenda. Company Permission Slips Due next class!!!!!!!!!!! Test #3 Ten minute review Remain quiet Test Ends @ 11.00 Intro to Module #4 … GDP and Economic Growth Homework Naked Economics, Chapter 9 …”Keeping Score: Is my Economy Bigger than Your Economy?”

sneedm
Télécharger la présentation

Agenda

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Agenda Company Permission Slips Due next class!!!!!!!!!!! Test #3 Ten minute review Remain quiet Test Ends @ 11.00 Intro to Module #4 … GDP and Economic Growth Homework Naked Economics, Chapter 9…”Keeping Score: Is my Economy Bigger than Your Economy?” Review Powerpoint for next class (online) Read “Current Reading Assignment” (online)

  2. Test #3 • Ten minute review • Remain quiet • Test Ends @ 8.40

  3. THREE MINUTE BREAK http://www.online-stopwatch.com/bomb-countdown/

  4. Intro to Module #4 … GDP and Growth GDP….What is it? • Gross Domestic Product • Most Commonly cited economic statistic • Defined as … • Dollar Value • Final goods and services • Produced in the country (state, City, etc.) • In a year

  5. Intro to Module #4 … GDP and Growth Most Commonly cited economic statistic • It’s usually what they are talking about when the headlines say, “the economy….”

  6. Intro to Module #4 … GDP and Growth GDP….What is it? • The four part definition… • Dollar Value • Final goods and services • Produced in the country (state, City, etc.) • In a year What is in Gross Domestic Product?

  7. Final Goods vs. Intermediate Goods Intermediate goods and services - Goods and services used to produce other goods. Final goods and services – Goods and services sold to the consumer GDP uses on final goods and services Why? Avoids doublecounting

  8. Intro to Module #4 … GDP and Growth What is in Gross Domestic Product? • Are these examples of U.S. G.D.P.? • A Toyota built in Tennessee and purchased by you? • Maple syrup produced in Canada and purchased by you? • A Toyota built in Tennessee and purchased by a taxi company? • The Nike shoes designed in Oregon, built in Vietnam and sold in Europe? • Maple syrup produced in Canada and purchased by IHOP in the U.S.?

  9. Intro to Module #4 … GDP and Growth Why is Gross Domestic Product so important? Remember our friendly entrepreneur? Which box best represents GDP?

  10. Intro to Module #4 … GDP and Growth Why is Gross Domestic Product so important? If GDP then employment (unemployment ) If GDP then employment (unemployment ) This is the key connection!!!

  11. Intro to Module #4 … GDP and Growth GDP changes in cycles. That’s called the “business cycle”.

  12. Intro to Module #4 … GDP and Growth The Business Cycle Percent Change GDP Time

  13. Intro to Module #4 … GDP and Growth The Phases of the Business Cycle Percent Change GDP peak contraction 5% expansion expansion 1% trough trough 0% Time -5% trough Recession GDP is shrinking (very bad)

  14. Intro to Module #4 … GDP and Growth

  15. Intro to Module #4 … GDP and Growth • US GDP is very large • 2012 US GDP was $15.6 trillion • (that’s $15,600,000,000,000 of good and services) • That’s #1 in the world. • But GDP moves in small increments… • Greater than 3% = good job creating growth • 0% to 3% = sluggish, no jobs created • < 0% = bad (recession)

  16. Intro to Module #4 … GDP and Growth GLOBAL COMPARISONS http://en.wikipedia.org/wiki/List_of_countries_by_future_GDP_(nominal)_estimates Changes since 2000?

  17. Homework • Naked Economics, Chapter 9…”Keeping Score: Is my Economy Bigger than Your Economy?” • Review Powerpoint for next class (online) • Read “Current Reading Assignment” (online) • Permission Slips DUE!

  18. HEADS UP… I won’t be here March 14 through March 20 Being sent to review Bishop Diego’s accredidation.

More Related