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9. Fundamental Concepts of Macroeconomics 1.Objectives and Methods of Macroeconomics 2.Economic Growth 3.National Accounting.

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Presentation on theme: "9. Fundamental Concepts of Macroeconomics 1.Objectives and Methods of Macroeconomics 2.Economic Growth 3.National Accounting."— Presentation transcript:

1 9. Fundamental Concepts of Macroeconomics 1.Objectives and Methods of Macroeconomics 2.Economic Growth 3.National Accounting

2 9.2 Economic Growth Country2007200820092010 China14.1999.5999.22010.328 India9.9916.1866.77110.094 Brazil6.0915.162-0.6457.490 Germany3.3940.809-5.0783.562 Luxembourg6.6391.440-3.6393.516 Canada2.2000.689-2.7703.215 USA1.913-0.337-3.4863.030 South Africa5.5683.576-1.6822.841 Australia4.5702.5851.3742.683 U.K.2.685-0.065-4.8751.354 Table 9.1 GDP, Constant Prices (National Currency), Annual Percentage Change, 2007-2010 (see IMF 2011)

3 Productive Capacity Fig. 9.1 Development and Utilization of Productive Capacity over Time

4 Output Gap Country2007200820092010 Australia0.9940.839-0.339-0.187 Canada1.6820.231-3.967-2.425 Germany2.7002.325-3.691-1.559 U.K.0.9820.731-3.696-2.627 USA0.017-2.153-7.096-5.629 Table 9.2 Output Gap in Percent of Potential GDP (see IMF 2011)

5 Population Country2007200820092010 Australia21.26321.73121.95222.226 Brazil187.642189.613191.481193.253 Canada32.88333.26333.66934.059 China1,321.2901,328.0201,334.7401,341.414 Germany82.17782.01381.76781.603 India1,142.0001,158.0001,174.0001,190.524 Luxembourg0.4800.4880.4970.507 South Africa48.36348.91149.46449.991 U.K.60.97561.37361.79862.222 USA301.903304.718307.374309.997 Table 9.3 Population, Million Persons (see IMF 2011)

6 Investment Country2007200820092010 Australia29.25929.54127.85327.592 Brazil18.32820.68616.50819.250 Canada23.24123.23820.86722.204 China41.73844.04648.24348.166 Germany19.26119.37616.54017.343 India37.37134.95837.08836.786 Luxembourg20.92220.28416.35316.304 South Africa21.24022.54619.61219.268 U.K.18.17516.64813.47815.015 USA19.61518.08614.72315.836 Table 9.4 Total Investment, Percent of GDP (see IMF 2011)

7 9.3 National Accounting CountryGDP USA14,526.550 China5,878.257 Germany3,286.451 U.K.2,250.209 Brazil2,090.314 India1,631.970 Canada1,577.040 Australia1,237.363 South Africa363.655 Luxembourg55.195 Table 9.5 GDP, Current Prices, Billion US$, 2010 (see IMF 2011)

8 GDP per Capita CountryGDP per Capita Luxembourg108,951.721 Australia55,671.620 USA46,860.242 Canada46,302.668 Germany40,273.516 U.K.36,164.101 Brazil10,816.487 South Africa7,274.416 China4,382.136 India1,370.800 Table 9.6 GDP per Capita, Current Prices, US$, 2010 (see IMF 2011)

9 National Wealth Fig. 9.2 Components of National Wealth as Computed in the SNA (see UN et al. 2009, p. 260)

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