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Principles of Macroeconomics Spring 2011 Dr. Andrew L. H. Parkes “A Macroeconomic Understanding for use in Business” 卜安吉.

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Presentation on theme: "Principles of Macroeconomics Spring 2011 Dr. Andrew L. H. Parkes “A Macroeconomic Understanding for use in Business” 卜安吉."— Presentation transcript:

1 Principles of Macroeconomics Spring 2011 Dr. Andrew L. H. Parkes “A Macroeconomic Understanding for use in Business” 卜安吉

2 May 24, 2011 Principles of Macroeconomics, Hyperinflation, Day 172 Yugoslavia Hyperinflation 1994-5: On January 24, 1994 the government introduced the super Dinar equal to 10 million of the new new Dinars. 1994-5: On January 24, 1994 the government introduced the super Dinar equal to 10 million of the new new Dinars.

3 May 24, 2011 Principles of Macroeconomics, Hyperinflation, Day 173 Zimbabwe Hyperinflation World-record hyperinflation last officially set at 231 million per cent. Sydney Morning Herald, http://www.smh.com.au/news/world/231000000-inflation-zim-dollar-dumped/2009/01/30/1232818687057.html World-record hyperinflation last officially set at 231 million per cent. Sydney Morning Herald, http://www.smh.com.au/news/world/231000000-inflation-zim-dollar-dumped/2009/01/30/1232818687057.html http://www.smh.com.au/news/world/231000000-inflation-zim-dollar-dumped/2009/01/30/1232818687057.html February 2, 2009: HARARE (Reuters) - Zimbabwe's central bank revalued its dollar again on Monday, lopping another 12 zeros off its battered currency to try to tame hyperinflation and avert total economic collapse. February 2, 2009: HARARE (Reuters) - Zimbabwe's central bank revalued its dollar again on Monday, lopping another 12 zeros off its battered currency to try to tame hyperinflation and avert total economic collapse.

4 May 24, 2011 Principles of Macroeconomics, Hyperinflation, Day 174

5 May 24, 2011 Principles of Macroeconomics, Hyperinflation, Day 175 Zimbabwe Hyperinflation Reserve Bank of Zimbabwe Governor Gideon Gono announced the new currency moves on Monday Reserve Bank of Zimbabwe Governor Gideon Gono announced the new currency moves on Monday "Gono gave no updated inflation figures but said broad money supply growth rose from 81,000 percent in January to 658 billion percent in December. "Gono gave no updated inflation figures but said broad money supply growth rose from 81,000 percent in January to 658 billion percent in December. http://www.reuters.com/article/newsMaps/idUSTRE5112IF20090202

6 May 24, 2011 Principles of Macroeconomics, Hyperinflation, Day 176 ONE HUNDRED TRILLION!! This recently printed One Hundred Trillion Dollar Zimbabwe note (above) use to buy only 300 America dollars. Now it's totally worthless.

7 May 24, 2011 Principles of Macroeconomics, Hyperinflation, Day 177 3 Eggs Worth The 100 Billion Dollar Zimbabwe note (below) was said to have bought just three eggs.


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