Course: BSB3340 – Survey of Economics Listed below are the Learning Objectives

Course: BSB3340 – Survey of Economics

Listed below are the Learning Objectives for this week chapters 15-18 for the textbook – Essentials of Economics, 9th edition, Mankiw, (Cengage). ISBN: 9780357133514. I have also attached PowerPoint slides. Note: Please only use the aforementioned textbook and/or Powerpoint to complete assignment.

Please view the following video and submit an original (in your own words) synopsis/commentary of what you viewed. Submissions should be minimum 150 words. Be sure to include at least one specific principle from this week’s chapter coverage as you see it illustrated in the video. (You don’t have to reference a principle from each chapter-just tie the video concepts back to something you recognize from the text/PowerPoint content for the week).  

Video Link: https://youtu.be/jbkSRLYSojo

Learning Objectives:

Chapter 15:

Describe the income approach to calculating GDP.

Describe the expenditure approach to calculating GDP.

Calculate GDP, given data on a country’s expenditures or income.

Identify which component of GDP is affected in a given scenario.

Compare GDP and GNP for an economy.

Calculate GNP, given data on a country’s income.

Explain the difference between real GDP versus nominal GDP.

Calculate the GDP deflator, given data on a country’s real and nominal GDP.

Identify limitations of using GDP as a measure of quality of living in a given scenario.

Chapter 16:

Explain the welfare effects of inflation in a given scenario.

Calculate the annual inflation rate for a specified year, given CPI data.

Explain the differences between the GDP deflator and the CPI.

Calculate the CPI, given pricing and consumption data on a fixed basket of goods.

Explain why the producer price index is useful in predicting changes in the consumer price index.

Determine how a scenario will cause the CPI to bias the true cost of living.

Compare the value of a dollar in the past to the value of a dollar today.

Describe the relationship between the nominal interest rate, inflation, and the real interest rate.

Chapter 17:

Explain how productivity influences economic growth.

Compare the future economic situation of two countries, given past data on income and growth rates.

Identify which productivity determinant a given scenario represents.

Describe the catch-up effect.

Explain how a change in a productivity determinant impacts productivity.

Explain how investments in education and R&D impact growth.

Explain the impact of the enforcement of property rights on growth.

Explain how savings and investment impact growth.

Explain how government structure and stability impact growth rates.

Chapter 18:

Categorize an event as either saving or investment.

Explain how financial intermediaries connect borrowers and savers.

Analyze the relationship between bond prices and the interest rate.

Explain how financial markets connect borrowers and savers.

Explain the difference between the bond market and the stock market.

Explain how government borrowing can lead to crowding out.

Analyze how changes in demand impact equilibrium in the market for loanable funds.

Describe the loanable funds market.

Explain the relationship between national saving, public saving, and private saving.

Analyze how changes in the government budget impact equilibrium in the market for loanable funds.

Explain the saving and investment identity.

Analyze how changes in supply impact equilibrium in the market for loanable funds.

Analyze the relationship between interest rates and quantity demanded.

Analyze the relationship between interest rates and quantity supplied.

Identify market equilibrium in the loanable funds market.