Skip to main content

Economic Indicators

 


Lecture 3


Economic indicators are statics about economic activities. 

The economic indicators(macroeconomics indicators) allows analyzing the different aspects of national economy.

Types of Economic Indicators

Economic indicators are classified into 3 group based on time prospective

1. Leading Indicators- Analysis of future prospect of economy(PPI- future price of commodities)

2. Coincident Indicators- Analysis of current prospect of economy(GDP, IIP)

3. Lagging Indicators- analysis of past prospect of economy(WPI)


Economic indicators can be classified into different group based on its nature

Production indicators- GDP, GNP, GNI
Infrastructure & Innovation indicators- Global innovation index, Ease of Doing business index, Network Readiness index
Employment indicators- unemployment rate, LFPR, Misery index, Philip curve
Inflation Indicators- CPI, WPI, Monetary policy(Interest rate)
Stable Governance indicators- Balance and Payments, Budget(Fiscal deficit), Credit rating, Corruption perception index, Laffer curve
Developmental indicators- HDI, GII, Happiness index, MPI, HCI, Ginni coefficient, IMR, MMR


Production/Income level is the most commonly used method to determine the economic development of a country.

GDP, GNP, GVA and National Income

(Click Here)


Developed, Developing and Least Developed Countries

(Click Here)


WPI, CPI, IIP and Inflation

(Click Here)


HDI, GII and MPI

(Click Here)


Global Hunger Index

First Published in 2006 by International Food Policy Research Institute(IFPRI- US) + Welthungerhilfe(German).

2018- Concern Worldwide + Welthungerhilfe

0→No hunger
1→High hunger level

The hunger index is more child oriented rather than representing the whole population(3 out of 4 indicators are child oriented).



Global Innovation Index

First Published in 2007 by INSEAD Business School.

Later it was published by INSEAD + Cornell University+ WIPO

Now it is published by WIPO(world intellectual property organisation) only.

It is measured by taking simple average of two sub-indices

1. Input(5 pillars- Institutions, Infrastructure, Mraket Sophistication, Business Sophistication, Human Capital & Research)

2. Output(2 pillars- Knowledge &Technology, Creative output)



Laffer Curve

Developed by American Economist Arthur Laffer in 1974. It shows the relationship between tax rate and tax revenue. As per the curve tax revenue doesn't increases with increase in Tax rate.

For both 0% and 100% tax rate, tax revenue will be zero.

When tax rate will be 100%, people will not work as all earning will be collected by government as a tax.

So simply increasing the tax rate, will not increase the government revenue.



Other Indexes & Reports

World Bank- Human Capital Index, Ease of doing Business(Part of Doing Business Project), Global Economic Prospect, World Development Report, Business Ready Project/B-READY(earlier Doing Business Project)

International Monetary Fund(IMF)- World Economic Outlook

World Economic Forum(WEF)- Gender Gap Index

United Nations Population Fund(UNFPA)- State of World Population report 2023(India will be the world most populous country by mid 2023)






Table of Contents Lecture 4

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

The Archadian

Every Archadian were looking towards the sky in the hope of sunset and with every passing moment they were afraid of lose. Their fear made them more weak and they lost more life in battle field in-front of large Valvan army. The field was full of blood surrounded by hill on one side and forests from another side. Rest of the two sides covered with two army in front of each other. Archadian vs Valvan The Valvan get more aggressive with their swords flying in the battle field. Finally with sunset, drum sound spread all over the field and war was at end. With sunset over the hills, darkness spread in the field and blood became more red in absence of sun. Alkan, the arrogant Valavn king, ask his solider to return back to tent leaving behind injured and dead Valvan solider in field. Both the army headed towards their tent leaving blood on the earth of Archadians. The Valvan get busy in celebrating their victory in today's battle field. While in Archadian tent, king Arithm order a...
Post a Comment
Read more

Warrior Wang

 1954, Guangyuan Lin(11 year old): Mom! Will brother Wang come today? Xiabo: He has an exam. He will come next week. Lin: But mom, today is my birthday. Xiabo: That's why your brother sent you a gift. Lin: where is it? Xiabo: Not now. I will give it to you tonight. What would you like to eat at night? Lin: Rice cake. Rice cake. In the evening, when Lin was playing outside with her friends. Quan entered the house. Xiabo: Why are you looking tense? Quan(starts crying): Our field. Xiabo: What happened to the field? Quan: There was fire, half of our crop got burnt. Xiabo holds the hand of Quan and says "we will find out some way". Quan: Sorry, I made your life hard. Xiabo: You gave me two beautiful kids and I am happy with this family. Whatever hard time will come, we will face it together. By the way, today is Lin's birthday and she wants to eat rice cake. Why don't you go to the market and buy some rice. Quan takes a bag and heads toward the market. In the market Qu...
Post a Comment
Read more

Human Body

  Lecture 5 Human Body Heart Vertebrate(animal with backbone) heart performs the function of pumping blood around body. The blood flow in heart is unidirectional because of heart valves.  Fish- 2 chember heart(1 atrium, 1 ventricle)  Amphibian and Reptile- 3 chember heart(2 atria, 1 ventricle)              Exception- Crocodiles and Alligators(4 chember heart)  Bird and Mammal- 4 chember heart(2 atria, 2 ventricle)  Atrium- Upper chember of heart that receive blood from body and send it to ventricle.  Ventricle- Lower chember of heart that pump blood throughout the body. Ventricles have thicker wall than Atrium.  Pulmonary Circulation- Blood flow to lungs for oxygen enrichment.  Systemic Circulation- Oxygen enriched blood flow to body parts.  Human Heart Blood flow in human heart- Deoxygenated Blood(enters via Vena Cava) → Right Atrium → Right ventricle → Lung(via Pulmonary Artery) → Left Atrium(via Pulmo...
Post a Comment
Read more