The Causes of Unemployment

To explain the Causes of Unemployment or Types of Unemployment:   •Frictional Unemployment or FU   FU is defined as the “normal turnover” in a country’s labor force i.e. FU is the transition of workers from one job A to another job B over a given time period say 3 months or 6 months or 1… Continue reading The Causes of Unemployment

Published

Major Macroeconomic Aggregates

DEFINITIONS OF MAJOR MACROECONOMIC AGGREGATES OR INDICATORS · DEFINITION OF GROSS DOMESTION PRODUCT OR GDP: IS DEFINED AS THE TOTAL MONETARY VALUE OF ALL FINAL AND LEGITIMATELY PRODUCED GOODS AND SERVICES THAT ARE PRODUCED BY THE DOMESTIC RESIDENTS WITHIN THE GEOGRAPHICAL BOUNDARIES OF A COUNTRY USUALLY IN A YEAR.   · GDP = DOMESTIC PRODUCTION  … Continue reading Major Macroeconomic Aggregates

Published

Rate of Employment vs Employment

To explain and interpret the following concepts with examples:   •Rate of Employment v Employment Rate of Employment = #persons employed x 100 #Labor Force   So if 90m persons are employed in a country’s LF and the LF is made up of 120m persons, then the rate of employment =   90m120m x 100=… Continue reading Rate of Employment vs Employment

Published

The National Income Accounting System

TOPIC: THE NATIONAL INCOME ACCOUNTING SYSTEM (NIAS) OR THE SYSTEM OF NATIONAL INCOME AND PRODUCT ACCOUNTS (NIPA) STRUCTURE OF PRESENTATION: · DEFINITION OF THE NIAS OR NIPA · WHAT IS THE SIGNIFICANCE OF THE NIAS OR NIPA IN A COUNTRY’S ECONOMY? · PURPOSES OR FUNCTIONS OF THE NIAS OR NIPA: · PRESENTATION AND EXAMINATION OF SOME KEY MACROECONOMIC… Continue reading The National Income Accounting System

Published

The concepts of the Labor Force

To define and distinguish between the concepts of the Labor Force or LF and the Population of a country   · Definition of LF =#Employed + #Unemployed (actively seeking gainful Employment)   · Definition of Population =the absolute # of individuals ( residents) who live within the geographical borders of a country   · For example, in the… Continue reading The concepts of the Labor Force

Published

Importance of the Labor Force

To explain the Significance or Importance of the Labor Force or LF in a country’s economy:   What is the Significance or Importance of the LF in any country’s economy?   There are several reasons for the importance of the LF in a country’s economy:   · The ratio of the # employed labor the… Continue reading Importance of the Labor Force

Published

Intermediate Macroeconomic Analysis

“Using the models discussed in Econ 302, write a policy report that discusses the effect of Covid-19 on key macroeconomic variables in Canada for the short-term, medium-term, and long-term horizons. Your report should be less than 10 pages single-spaced / 20 pages double spaced (excluding figures and tables). Figures and tables can be placed at… Continue reading Intermediate Macroeconomic Analysis

Published