1. Economics 101Micro & Macro EconomicsRahul Reddy 2. Economics is the science of the optimum orbest utilization of economic resources 3. Microeconomics Basics 4. Some…

1. Chapter 19Measuring National Outputand National Income Prepared by: Fernando & Yvonn Quijano© 2007 Prentice Hall Business Publishing Principles of Economics 8e by…

1. Chapter 6Measuring National Outputand National Income Prepared by: Fernando & Yvonn Quijano© 2007 Prentice Hall Business Publishing Principles of Economics 8e by…

1. Arne Jon IsachsenDepartment of EconomicsDecember 2012Chapter 1: The Science of Macroeconomics 2. Macroeconomics• The study of an economy as a whole.• Focussing on…

1. GDP 2. IntroductionMicroeconomics is the study of how individualhouseholds and firms make decisions and how theyinteract with one another in markets.Macroeconomics is…

1. What do they have in common? 2. How is Economic GrowthMeasured?• Economic growth in a country is measured bythe country’s Gross Domestic Product (GDP)in one year•…

1. Gross Domestic ProductGDP, Gross Domestic Product, is the market value of all final goods andservices produced within a country in a given year. 2. Four Components of…

1. Factors that Lead to Economic GrowthUnit 10 Notes 2. Economic Growth There are 4 factors of production that influenceeconomic growth within a country:  Investment…

Asset Something of monetary value owned byan individual or organization. Bond A certificate of indebtedness issued by a government or publicly held corporation, promising…