SHAD 1053 Principles of Macroeconomics

SHAD1053 - Principles of Macroeconomics Lecture-2

This chapter includes definition and calculation of GDP.

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Reflection

From this chapter, I learned that:

  • GDP, income and expenditure 
  • Measuring GDP by using expenditure approach and the income approach
  • Expenditures excluded from GDP calculation
  • Valuing industrial output
  • Real GDP and nominal GDP
  • Relationship between real GDP and standard of living
  • National income accounting
Details

Video (GDP Calculation)

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Real GDP

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GDP Approaches

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Nominal GDP

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Plan

Notemaking and case study discussion.

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