Transcript Economics_Globalisat..

(from last time) HW – part 2
Awareness of trends in the UK economy since year 2000
Please prepare an annotated graph of US and UK economic performance for discussion next time: (will allocate
student per topic in the lesson).
Site www.tradingeconomics.com has all of the above (click on forecast or market – we will go through this)
• Unemployment Rate
• GDP Growth Rate (Gross Domestic Product – the value of all goods and services in the Economy over a given
time period)
• Government Debt to GDP (A Ratio showing how indebted the Government is, relative to the value of a
Countries economic activity)
• Balance of Trade (Net flows of the value of all imports and exports of goods and services in relation to the
UK)
• Population
• Exchange rates of the British Pound against US Dollar and Euro (GBP/USD and GBP/EUR)
EXAMPLES BELOW Oil prices (Brent Crude) for 25 years and UK Interest Rates since 2000
Macroeconomics: Theme 2 - The UK Economy - performance
and policies
Opening Activity
A: Short presentation of graphs by authors
B: Working through in the groups below compare your
graphs - find similarities / differences in the timing of
major events shown on your graphs across markets. (ie
Comparing Unemployment (“UE”) and Short Term
Interest Rates (“STIR”) -> did rising UE precede/follow
lower STIR, any ideas why?) – please get a paper copy
Learning Objective: Have an appreciation and
understanding of recent UK economic history
Comparison Groups
Session
Group A
Group B
Group C
1
GDP
GDP Growth Rate
Gov.Debt to GDP
Interest Rate
Oil Price
Unemployment
Population
GBP/USD
GBP/EUR
Balance of Trade
2
Gov. Debt to GDP
Balance of Trade
Unemployment
Interest Rate
Population
GDP
GBP/USD
GBP/EUR
GDP Growth Rate
Oil Price
3
Population
Balance of Trade
Oil Price
Unemployment
GDP Growth Rate
GDP
The UK economy - performance and policies
Interest Rate
GBP/USD
GBP/EUR
Gov.Debt to GDP
3
Opening Activity – Globalisation Revision
Globalisation What is it? What causes it? What are its impacts?
Macroeconomics: Theme 4 - A Global Perspective
4
Definition of globalisation
‘The ability to produce any goods (or service)
anywhere in the world, using raw materials,
components, capital and technology from
anywhere, sell the resulting output anywhere,
and place the profits anywhere.’
Impacts of globalisation and global companies
on
• individual countries
• governments
• producers and consumers
• workers
• the environment
Showbie TRACF
Debate
Showbie TRACF