Tuesday , September 22 2020
Home / Miles Corak: Economics for public policy / The meaning, the measurement, and the use of GDP

The meaning, the measurement, and the use of GDP

Summary:
In this eighth lecture of Economics for Everyone, we begin our discussion of macroeconomics, the study of the overall level of economic activity. The lecture offers some background and motivation by examining the sharp increase and sluggish fall of the unemployment rate during the 1930s, the Great Depression. This led to a crisis in economic thinking, and to the publication of John Maynard Keynes’s “General Theory”. Thus macro-economics was born. Our first challenge involves a host of measurement issues, and in this lecture we examine the meaning, the measurement and the use of Gross Domestic Product. This statistic is nicely presented, reviewed, and evaluated in Diane Coyle’s book, GDP: A Brief but Affectionate History, and it is the major reading on your list for this

Topics:
MilesCorak considers the following as important: , , , ,

This could be interesting, too:

MilesCorak writes Business cycles and the unemployment rate

Donald Marron writes The Worst Jobs Day Ever

MilesCorak writes Public policy in competitive markets, for the bad and for the good

MilesCorak writes “When we talk about economics, there’s something known as a demand curve with elasticity”

In this eighth lecture of Economics for Everyone, we begin our discussion of macroeconomics, the study of the overall level of economic activity.

The lecture offers some background and motivation by examining the sharp increase and sluggish fall of the unemployment rate during the 1930s, the Great Depression. This led to a crisis in economic thinking, and to the publication of John Maynard Keynes’s “General Theory”. Thus macro-economics was born.

Our first challenge involves a host of measurement issues, and in this lecture we examine the meaning, the measurement and the use of Gross Domestic Product. This statistic is nicely presented, reviewed, and evaluated in Diane Coyle’s book, GDP: A Brief but Affectionate History, and it is the major reading on your list for this lecture.

The meaning, the measurement, and the use of GDP

Download the presentation for Lecture 8, “The Meaning and Measurement of Macroeconomic Activity” as a pdf, and if you like listen to narrated version.

Leave a Reply

Your email address will not be published. Required fields are marked *