...Assignment On Relationship between GDP & HDI Submitted ToCourse Instructor Of B-University of DhakaDepartment of Banking | Submitted ByMd. Yasir ArafatId No. 62B.B.A 13th BatchDepartment of BankingUniversity of Dhaka | Date of Submission08.o7.09 | Introduction to GDP A region's gross domestic product, or GDP, is one of the ways of measuring the size of its economy. The GDP of a country is defined as the total market value of all final goods and services produced within a country in a given period of time (usually a calendar year). It is also considered the sum of value added at every stage of production (the intermediate stages) of all final goods and services produced within a country in a given period of time. Components of GDP Each of the variables C (Consumption), I (Investment), G (Government spending) and X − M (Net Exports) (where GDP = C + I + G + (X − M) as above) C (Consumption) is private consumption in the economy. This includes most personal expenditures of households such as food, rent, medical expenses and so on but does not include new housing. I (Investment) is defined as investments by business or households in capital. Examples of investment by a business include construction of a new mine, purchase of software, or purchase of machinery and equipment for a factory. Spending by households (not government) on new houses is also included in Investment. In contrast to its colloquial meaning, 'Investment' in GDP does not mean purchases...
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...Electronic Engineering, Michael Okpara University of Agriculture, Umudike, Abia State been identified [2]. A particular finding revealed the high cost of providing back-up energy (partly infrastructural) for SMEs which sometimes is as critical as three times the cost of publicly supplied electricity [3], [4]. In Nigeria and perhaps generally, SMEs classification is done on the basis of capital investment and employed labour force while other criteria could be the annual turnover or gross output [5]. Until very recently, energy was rarely cited as one of the problems militating against the development of SMEs in Nigeria and elsewhere. This study is built on the argument that, unlike larger businesses, the establishment and operation of SMEs promotes economic development which by extension, boosts a country’s GDP number [6] (see Fig. 1). A separate study identifies this link (between SMEs and GDP) but could not establish if it is actually responsible for economic growth [7] while another study presents a decreasing link of 51%, 39% and 16% of GDP being produced by SMEs in high-income, medium income and low-income countries respectively [8]. Elsewhere, it has been confirmed that SMEs were responsible for pulling the US out of economic slump and can therefore, serve as any other economy’s talisman to economic growth [9], [10]. This study is also important because Nigerian SMEs account for some 95 per cent of formal manufacturing activity and 70 per cent of industrial jobs [11]. # UB Akuru#...
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...Country analysis involves the examination and interpretation of a nation’s economic, social and political environment. The analysis offers a comprehensive overview of a country Objectives To identify the common factors used by MNCs to measure a country’s political risk and financial risk; To explain the techniques used to measure country risk; and To explain how MNCs use the assessment of country risk when making financial decisions Country analysis is useful for: * Investors in the financial market * Companies intending to set up a subsidiary * Companies wishing to enter a new market * People wishing to reside in the country Factors Considered in a Country Analysis A country analysis is often conducted through country reports researched by professional government or independent firms, such as the Economist Intelligence Unit, World Bank and Organization for Economic Cooperation and Development (OECD). Some of the data points considered in a country analysis are: Economic Indicators: Indicators such as gross domestic product (GDP), consumer price index (CPI), inflation rate and producer price index (PPI) help in gauging a country’s economic health. High GDP growth, low inflation and high CPI are favorable for companies and investors. These indicators also reflect job availability and standard of living in the country. Government Policy: Governments often introduce policies and programs to promote the growth of certain industries. Favorable government...
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...in association with them. The Papers are intended to increase awareness of the technical work being done by staff and to seek comments and suggestions for further analysis. The views expressed are the author’s alone and do not necessarily correspond to those of the European Commission. Comments and enquiries should be addressed to: European Commission Directorate-General for Economic and Financial Affairs Publications B-1049 Brussels Belgium E-mail: Ecfin-Info@ec.europa.eu This paper exists in English only and can be downloaded from the website ec.europa.eu/economy_finance/publications A great deal of additional information is available on the Internet. It can be accessed through the Europa server (ec.europa.eu) KC-AI-10-415-EN-N ISSN 1725-3187 ISBN 978-92-79-14901-6 doi 10.2765/42450 © European Union, 2010 Reproduction is authorised provided the source is acknowledged. The Changing Pattern in International Trade and Capital Flows of the Gulf Cooperation Council Countries in Comparison with Other Oil-Exporting Countries Marga Peeters1 Abstract During the past decade the GCC countries have achieved a remarkably high degree of trade and financial integration in the world economy. Before the global crisis began, they invested their abundant oil income which resulted from high energy prices and high world demand, in return abundantly abroad. Thanks to policies that are...
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...sterile class. Malthus, Sismondi and Marx in the 19th century dealt with macroeconomic problems. Walras, Wicksell and Fisher were the modern contributors to the development of macroeconomic analysis before Keynes. Certain economists, like Cassel, Marshall, Pigou, Robertson, Hayek and Hawtrey, developed a theory of money and general prices in the decade following the First World War. But credit goes to Keynes who finally developed a general theory of income, output and employment in the wake of the Great Depression. Contents: Nature of Macroeconomics Difference between Microeconomics and Macroeconomics Dependence of Microeconomic Theory on Macroeconomics Dependence of Macroeconomics on Microeconomic Theory Macro Statics, Macro Dynamics and Comparative Statics Transition from Microeconomics to Macroeconomics Stock and Flow Concepts 1. Nature of Macroeconomics:________________________________________ Macroeconomics is the study of aggregates or averages covering the entire economy, such as total employment, national income, national output, total investment, total consumption, total savings, aggregate supply, aggregate demand, and general price level, wage level, and cost structure. In other words, it is aggregative economics which examines the interrelations among the various aggregates,...
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...University Sciences-Po/Columbia University Princeton University Princeton University University of Warwick Harvard University London School of Economics University of Chicago Sciences Po Rapporteurs Jean-Etienne CHAPRON General Rapporteur Didier BLANCHET Jacques LE CACHEUX Marco MIRA D’ERCOLE Pierre-Alain PIONNIER Laurence RIOUX Paul SCHREYER Xavier TIMBEAU Vincent MARCUS INSEE INSEE OFCE OCDE INSEE INSEE/CREST OCDE OFCE INSEE Table of contents EXECUTIVE SUMMARY I. SHORT NARRATIVE ON THE CONTENT OF THE REPORT Chapter 1: Classical GDP Issues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Chapter 2: Quality of Life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Chapter 3: Sustainable Development and Environment . . . . . . . . . . . . . . . . . . . . . 61 II. SUBSTANTIAL ARGUMENTS PRESENTED IN THE REPORT Chapter 1: Classical GDP Issues . . . . . . . . . . . . . . . . . . . . . . ....
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...China’s Economic Growth 1978-2025: What We Know Today about China’s Economic Growth Tomorrow Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new economic superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past real GDP growth rates into the future, the size of the Chinese economy surpasses that of the U.S. in purchasing power terms around 2010. Such extrapolations can be supported by standard growth patterns identified in economic development and trade theories (structural change, catching up, and factor price equalization). They can also be supported by an explanation of China’s past GDP growth through growth of various labor variables, with a subsequent derivation of future GDP growth based on reliable information about future labor quantity and quality. China’s demographic changes and economic growth have a number of implications for China and the world. JEL codes: O1 (O10, O11), O4 (O40, O47), O53, J11, O3, I21 Keywords: economic growth, growth accounting, growth forecasts, development theories, human capital formation, education (all: China) Carsten A. Holz Social Science Division Hong Kong University of Science & Technology Clear Water Bay Kowloon Hong Kong E-mail: socholz@ust.hk Tel/Fax: +852 2719-8557 26 December 2006 (Incorporates minor revisions of the 3 July 2005 and 2 November...
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...and Emily McGirr, International Institute for Labour Studies2 What is happening? On the heels of the near bankruptcy of a major insurance company and the effective end of all major US investment banks, financial markets around the world sustained severe losses in the first two weeks of October, 2008, accelerating the downward trend that started at the beginning of the year. As a consequence, from New York to Moscow, and London to Sao Paulo, equity prices have fallen sharply – with the major stock indices of the G7 and BRICs losing nearly half of their value since the beginning of the year. This has seriously damaged banks’ balance sheets and restricted their lending capacity. With the cost of short-term credit rising dramatically and liquidity drying up, these events have been dubbed the worst financial meltdown since the Great Depression in 1930s. More importantly, the shock waves from the US financial market have spread throughout the globe, with many countries on the brink of recession (see Figure 1, Appendix). How did a “house fire” in America turn into a global banking crisis? Sub-prime mortgages are a financial innovation designed to provide home ownership opportunities to borrowers in the U.S. with a higher risk profile (such as borrowers with low incomes, bad credit histories or limited disposable income). Most of the sub-prime mortgages were given out on a variable interest-rate basis, with the risk of potentially large adjustments to monthly...
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...2014 TOPIC PAPERS NO. 1 TITLE Inflation PAGE 3 2 External Stability 5 3 Unemployment 7 4 Labour Markets 9 5 Financial Markets 11 6 Economic Growth 13 7 Ecologically Sustainable Development 15 8 Globalisation 17 9 Income Distribution 19 10 Developing Economies 21 Produced by “Plain English Economics Pty Ltd” PO Box 522 Jannali NSW 2226 Email: plain.english@bigpond.com Disclaimer: While every attempt is made to ensure the accuracy of information contained in this publication, no liability is held by the producers as a result of any use of the contents of this document. Topic one: Inflation Inflation (%pa) 5% Inflation remains within target 4% There has been some volatility in the actual official or “headline rate” of inflation over the past 3 years. There was a spike in inflation in mid 2011, when the CPI hit 3.5%.This primarily reflected higher food prices as floods around the country and the North Queensland cyclone in early 2011 caused supply shortages of several fruits and vegetables. Over the course of 2012 there was a reversal of this effect, as food supply levels normalised and prices fell as a result. The CPI hit a low of 1.2% in mid 2012. Since then, the headline CPI growth rate has generally been on an upward trend. At 2.9%, the March 2014 CPI is at the upper end of the Reserve Bank target range. Growth Rate % Consumer Price Index March ...
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...EU 16 5 The impact of EU regulation 20 6 Fiscal consequences of EU membership – the EU budget 23 7 The EU’s effect on consumer prices 28 8 Foreign direct investment (FDI) 30 Appendix table: a comparison of the EU with alternative trading arrangements 32 Boxes Would independence over trade policy lead to better results? 15 The EU budget – winners and losers 27 Trade barriers and economic efficiency 29 Related Library briefings Leaving the EU, Research Paper RP13/42 In brief: UK-EU economic relations, Standard Note SN6091 Norway’s relationship with the EU, Standard Note SN6522 Switzerland’s relationship with the EU, Standard Note SN6090 The UK and Europe: time for a new relationship?, Standard Note SN6393 1 Introduction and summary 1.1 Understanding the economic impact of EU membership EU membership influences the UK economy in a number of ways. The most important effects arise through the Single Market, the programme of economic integration through which the EU’s ‘four freedoms’1 are guaranteed. But the economic impact of the EU is felt in other areas of its policy, too. The EU has exclusive competence to negotiate trade and investment agreements with countries outside the Union;...
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...and Health Care Services in the United Kingdom with comparison to the United States HSM310 Introduction to Health Services Management Course Project Date submitted: 11/29/2015 Table of Contents Executive Summary………………………………………………………………………………………………. 3 Population and Health Status………………………………………………………………………………………………………………... 3 Demographic characteristics of population Mortality, Infant mortality data, causes of death Other data of health status Related information (such as on quality if life); analysis Availability of Health Services………………………………………………………………………………….. 4 Basic organization/general description of services institutions, providers of care Issues related to access Utilization of services (data, if available) Other related information/analysis Expenditures………………………………………………………………………………………………………. 5 How are health services paid for; any roles for the government here Data on total expenditures Other related information/analysis Macroenvironmental influences on the health care system……………………………………………… 6 Political Socioeconomic Cultural Technological/Other relevant influences Summary comments…………………………………………………………………………………………….. 7 Problems Opportunities Other related comments regarding this country's health care services Comparison to the United States: what works better, what is not working as well Concluding comments: Lessons learned for the U. S., other countries Bibliography (required)…………………………………………………………………………………………...
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...governments across the world impose one form of tax or the other. The main purpose of imposing tax has been for the government concerned to use the proceeds of the taxation to run the government and to provide essential services. Before a country considers efficient and effective way of administering tax system; it must possess a clear picture of the scope of its tax system as well as considering the tax rate and tax base over time. The quantity and quality of revenue required by tax administrators are to a large extent determined by the type of tax system which is introduced. A nation’s tax goals are not achieved by designing a tax system which is fair, any fair system which is not administered as planned becomes inequitable. Thus, a good tax system is capable of financing the necessary level of public spending in the most efficient and equitable way possible. It should also (1) raise enough revenue to finance essential expenditures without recourses to excessive public sector borrowing, (2) raise the revenue in ways that are equitable; that minimized its disincentive effects on economic activities, (3) do so in ways that do not deviate substantially from international norms. (Tanzi and Zee,2000). It is being noted that the aims and objectives of taxation differ from one country to the other. However, an essential common feature of tax has been the dynamic nature in every system to reflect the economic and policy needs of that nation, another common feature of tax is that it has...
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...8 9 0 Text printer code/Cover printer code 0 9 8 7 6 5 4 ISBN 0-07-288477-0 www.mhhe.com The Nature and Method of Economics CHAPTER ONE THE NATURE AND METHOD OF ECONOMICS CHAPTER OVERVIEW This chapter begins with a discussion of the meaning and importance of economics. In this first chapter, however, we will not plunge into problems and issues; instead we consider some important preliminaries. We first look at the economic perspective—how economists think about problems. Next, we state some of the benefits of studying economics. Then, we examine the specific methods economists use to examine economic behavior and the economy, distinguishing between macroeconomics and microeconomics. Finally, the problems, limitations, and pitfalls that hinder sound economic reasoning are examined. The Appendix to Chapter 1 provides an important introduction to graphical analysis. While this will be review material for most students, for some this may be new....
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...Academy of National Economy and Civil Service under the President of the Russian Federation Faculty of Economic and Social Sciences Scandinavian model: advantages and contradictions of a welfare state Anna Olkova 3rd year student 2011 Table of contents Introduction 3 Chapter 1. The role of Scandinavian model in economic theory and practice. 5 1.1. Scandinavian model in civilizational context: incarnation of integralism. 5 1.2. Scandinavia in European economy: comparative analysis 10 1.3. Cultural preconditions for the Scandinavian model formation. 13 Chapter 2. Model performance and competitiveness: distinctive features 16 2.1. The role of public sector in Scandinavian economies 16 2.2. Peculiarities of labour market in Scandinavia 21 2.3. Human capital and innovations: learning economy 26 Chapter 3. Scandinavian model: challenges and threats 33 3.1. Demographic challenge: ageing of population versus public finance 33 3.2. Paradoxes of economic growth in welfare states 36 3.3. The problem of labour disincentives and decommodification. 38 Conclusion 41 Bibliography 43 Introduction In the light of a current trend of moving towards socialization in economy, Scandinavian experience stands out, being probably a unique example of building a highly-socialized and at the same time viable economy. The image of Scandinavian countries appears to...
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...have traditionally followed a “top-down” approach. They examine the behavior of macroeconomic indicators for the country as a whole, referring only in a general, even cursory, manner to the trajectories of each province, and even more summarily to the policy issues, constraints, and opportunities that confront the different provinces. The implicit attitude—that it is the federation as a whole rather than the federating units that matter—is so firmly embedded in the official mindset that, even after 65 years of Pakistan’s existence, the authorities do not produce official statistics of province-level gross domestic product (GDP), investment, savings, exports, imports, labor productivity, and other key economic indicators. 2. The Importance of a Province-Level Approach Why is a province-level approach important? The issue is not merely of academic interest. It is necessary to strengthen studies at the province level, because policies to address questions of employment, poverty, and perceived deprivation, and to improve the delivery of key services are more effective if the perspective is as close to the ground as possible. The validity of this approach is recognized by the burgeoning number of regional or state studies in India and in other parts of the world—such as China, Malaysia, Vietnam, Thailand, Indonesia, Brazil, Argentina, and Nigeria among developing countries, and of course the United States, Canada, Australia, Germany, Italy, and several others in the developed world—where...
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