How+can+we+measure+and+model+an+economy?

Measuring the 'size' of an economy and the Circular Flow of Income

 * [[file:1. The National Income Accounts-1.doc]]
 * [[file:2. Comparing National Income in ELDCs & EMDCs 2014 student version.docx]]
 * [[file:3. Other Considerations for National Income Accounting.docx]]

The Business/Trade Cycle
This concept explains the different phases that economies go through in terms of the size of their GDP (and GDP growth rates) over time. It is important for you to gain an understanding of these different phases and how they affect unemployment, inflation and income distribution. In addition, you must be able to distinguish between a fall in GDP and a fall (decrease) in a GDP growth rate.


 * [[file:5. Business Cycle- student notes.ppt]]