1. Market value of all final goods and products 2. 2 major exclusion from computation of GDP 3. 3 subcategories of non-productive transaction 4. Equation of Nominal GDP 5. Equation of Real GDP 6. Equation of Price Index 7. Value at current price 8. Value at constant price 9. Why is there a nominal and real GDP? 10. 2 Approaches in the computation of GDP 11. 5 Components of Expenditure Approach 12. Expenditure by households on goods and services, other name (HFCE) 13. Expenditure by business, other name (GDCF) 14. Two main components of investment (fixed capital and changes in stock) 15. Expenditures of goods and services by the government (GFCE) 16. Expenditures on domestically produced (Export) 17. Expenditures on foreign goods and services (Import) 18. What is net import? 19. Net import is positive means? (trade surplus) 20. Net import is negative means? (trade deficit) 21. Broken down by regions using the expenditure of resident institutional sectors (GRDE) 22. Three major sectors (agricultural, industrial and service) 23. What is GRDE for? 24. GDP + abroad (GNI) 25. What is net primary income? B. Business Cycle, Inflation and Unemployment 1. Biggest problems of a business cycle? (inflation and unemployment0 2. Diffusion of fluctuations in aggregate economic activities all over the economy (business cycle) 3. Phases of business cycle 4. Turning point of recession (through) 5. Phase at full employment (peak) 6. 2 Basic categories-theories explaining business cycle (endogenous and exogenous) 7. Endogenous theories (SIRUM) (Self-generating, Innovation, Real Structure, Underconsumption and Monetary) 8. What is unemployment? 9. 3 definitions to be officially unemployed 10. 5 reasons for not seeking work (BITAW) 11. Formula for unemployment rate 12. Formula for Labor force 13. Formula for Labor Force Participation rate 14. 2 types of unemployment (unavoidable and avoidable) 15. 3 subcategories under Unavoidable employment 16. Unemployment associated with the changes in the economy 17. Location and qualification of the labor force do not match the available jobs
18. Caused by recession phase
19. Unemployment due to insufficient demand for workers 20. Full employment rate of unemployment (natural rate of unemployment) 21. 2 Categories of underemployment 22. Definitions of underemployed 23. Okuns Law (2-3% movement in GDP, 1% change in unemployment) 24. What is inflation? Formula 25. Two kinds of inflation (headline and core) 26. Weight overall average prices 27. Rate of change in the CPI 28. 3 Causes of inflation (Demand Pull, Supply Shock, Profit Push) 29. Effects of Inflation-redistributive effects 30. Losers in Inflation (FiSCH) 31. Gainers (DeFP) 32. Decrease average price level (deflation) 33. Refers to period of extremely high inflation (hyperinflation) 34. What is stagflation? C. International Economics 1. 5 Theoretical bases of International Trade 2. Thomas Munn-encourage exports, limit imports 3. Law of Absolute Advantage (Good producer-export, not so good-import) 4. Law of Comparative Advantage by David Ricardo 5. Hecksber-Oblin Theory or Factor proportions/endowment theory i-export yung medyo abundant 6. Hecksber-Oblin-Samuelson Theorem 7. Types of Trade protections 8. Arguments for the imposition of Tariff Protection 9. Foreign exchange rate 10. Foreign exchange arbitrage 11. 4 Importance of exchange rate 12. When to say currency depreciation/appreciation? 13. When to say currency devaluation/appraisal? 14. What is floating exchange rate? 15. Manage float? 16. Dirty float?-currency artificially low 17. Two types of fixed exchange rates 18. Adjustable peg system 19. Crawling peg system 20. Balance of payments 21. 2 major categories of economic transactions 22. 2 approaches in BOP 23. Current account balance 24. Change in net International reserves D. Monetary and Fiscal Policy 1. Central monetary authority 2. Main type of government macroeconomic policy that is define as the measure of actions to be taken by the central bank 3. Three main pillars of BSP