Ekonomi Makro m02&03

Ekonomi Makro Minggu 02 & 03

EKONOMI MAKROEKONOMI MAKRO

MINGGU 2 & 3MINGGU 2 & 3

Pokok Bahasan:Perhitungan Pendapatan Nasional

Tujuan Instruksional Khusus:Mahasiswa dapat mengerti dan memahami perhitungan pendapatan nasional

Referensi:Samuelson, Paul A. & William D. Nordhaus (2001), Economics, 17th Ed., McGraw-Hill, New York USA.


Penghitungan Pendapatan Nasional (BAB 21)

GROSS DOMESTIC PRODUCT:The yardstick of economic performance; the most comprehensive measure of a nation’s total output of goods and services; total production of final goods and services

GDP = C + I + G + X – M


TWO MEASURE OF NATIONAL PRODUCT: Good Flow (a) and Earnings or Costs Flow (b)


NOTES:

1. Equivalence of Good Flow and Earnings or Costs Flows?

2. The Problem of “Double Counting” (Example?)

3. Value Added Approach to avoid double counting (Example?)

4. Real versus Nominal GDP: Deflating GDP by a Price Index (Example?)


GDP = C + I + G + X - M

1. CONSUMPTION (C):

• Personal/Private Consumption Expenditure

• About 2/3 of the US Total GDP in recent years

• Three categories of consumption: durables, nondurables and services


GDP = C + I + G + X - M

2. INVESTMENT AND CAPITAL FORMATION (I):

• Investment consists of the additions to the nation’s capital stock of buildings, equipment, software, and inventories

during a year

• Investments represent additions to the stock of durable capital goods that increase production possibilities in the

future

• Net Investment = Gross Investment - Depreciation


GDP = C + I + G + X - M

3. GOVERNMENT (G):• Government expenditure consists of

consumption-type and investment-type items• Government transfer payments (to individuals

that are not made in exchange for goods or services) are not included in the GDP! Why? Examples?

• How the government finances its spending? By taxing, by printing money or by borrowing.


GDP = C + I + G + X - M

1. NET EXPORTS = Exports – Import

• Export = produced within boundaries of the nation, bought by foreigners and shipped abroad.

• Import = produced abroad, bought by the nation’s residents and shipped to the nation in consideration.


Gross Domestic Product, Net Domestic Product and Gross National Product

• GDP is the output produced with labor or capital located inside the nation.

• GNP is an alternative measure of national output; GNP is the total output produced with labor or capital owned by the nation’s residents.

• NDP = GDP – Depreciation


FROM GDP TO NATIONAL INCOME TO DISPOSIBLE INCOME:


PRICE INDEX AND INFLATION

• Price Index is a weighted average of the prices of a number of goods and services. Economists weight individual prices by the economic importance of each good.

• The most important indexes are the CPI, the GDP Deflator and the Producer Price Index. Examples?

• Rate of inflation at year t = [(P year t – P year t-1)/P year t-1] x 100

• When deflation occurs?


ECONOMIC GROWTH

• Economic growth is an increase in the total output of a nation over time.

• Economic growth is usually measured as the annual rate of increase in a nation’s real GDP

• Formula:(Real GDP year t – Real GDP year t-1) x100

Real GDP year t-1

Ekonomi Makro m02&03

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