2.2 Readings
The main source of our discussion is from the following sections in the course textbooks and supplementary materials.
Note: Curtis and Irvine discuss all macroeconomics data in Chapter 4. Unemployment and inflation are our future topics.
- What is the Gross Domestic Product (GDP)?
- Curtis and Irvine 4.1 & 4.4
- Shaprio et al. 6.1 (optional: discussion on US data and data collection)
- Extended Reading 1
- How is GDP related to a nation’s total income and spending? What are the components of GDP?
- Curtis and Irvine 4.3 & 4.4
- Shaprio et al. 6.1
- Extended Reading 2
- How is GDP corrected for inflation?
- Curtis and Irvine 4.5
- Shapiro et al. 6.2
- How do economists use real GDP to describe an economy’s situation?
- Shapiro et al. 6.3
- Statistics for all seasons: A two-minute primer on seasonal adjustment [Video]
- Extended Reading 3
- Does GDP measure society’s well-being?