Preparing to teach basic economic concepts - national income, circular flow etc and found this really helpful in terms of a way to explain this clearly - many thanks
Wow, this was such a better explanation than my instructor. This answered every one of my lingering questions and even explained things I didn't know I didn't understand well. So very happy to have found this before my exam. Thank you!
I believe the best way to measure a nations economy is to factor it's GDP, it's export/imports and it's external debt. If I can come up with an equation representing this factors I am certain a better comprehension of an economy can be illustrated. But the GDP portion my need to be tweaked. In any case please tell me what you think.
I think we need a clarification @9:00. Some government spending should be excluded in GDP calculation such as social security payments and welfare payments. These spendings are called "Non-production transactions."
thank you for explanation! but I still can not understand why it is said that household earned in the resource market ultimately is spent in the product market？ I think they may save some money, and invest to the firms instead of buying goods in the product market.
Thanks for this video. I have a question :I don't understand the example on the t-shirt buy in China . if i buy a product in a foreigner market how the money spent will return in US by export ? assuming that in the video we say an import is leakage in the cycle.
In which category public corporate and sales taxes should be included? Since transfer payments (welfare) isn’t part of GDP but financed through taxation, shouldn’t taxation be recorded as Government income?
tnx for the video.. sir do you know where to get those data for me to compute the gdp or estimate the future gdp of a certain country like the US or Eu? any online resources?
It is an amazing video for understanding the method of calculating GDP. It would be great if you could explain how a government calculate in reality? Where they collect the data? How to estimate the deviation of calculation?
Take for example our trade deficit. If we import more then we export a problem arises, it incidentally causes more demand for money that is not available and now there is less money in banks and in peoples pockets. So while it may look like the nation is healthy becuase people are spending the real question is where is the money going. In the case of a trade deficit the money is now going abroad. This,in my view,fails the GDP concept. Would you agree?
In summary in this video clip, income= expense. Is it correct? I am not sure. As I know, income - expense = profit or Loss. So the way to measure GDP by income appoarch and expenditure approach is not equal. That 's why 2 countries have the same number of GDP but one has national debt. Another has not. And one more thing, government get money from 1. Tax ( normal way) 2. Borrow ( called bonds) 3. Just print money (called QE)
Usually I don't make comments......but here I can't stop myself but to appreciate this one.
The only video that made me properly understand how GDP is measured with the Income approach!
One of the best Economics videos available on UA-cam, very confident approaching my exams!
The best video about GDP measurement.
Agreed, I feel confident going into exam today lol
word
ربنا يخليك لينا يا اسطا، دانا منغيرك زماني سقط
you explain better than my teachers at school, thank youuuuuu
Preparing to teach basic economic concepts - national income, circular flow etc and found this really helpful in terms of a way to explain this clearly - many thanks
thank you for a simple to understand lesson.
you helped shorten the hours spent studying.
This one video is pretty much everything you need to know, brilliantly explained.
These videos are genuinely excellent I'm sure people learn more thanks to videos like these than they do in lectures
So thankful for these videos!!! I kept reading my book and just couldn't get it, so thank you!
Wow, this was such a better explanation than my instructor. This answered every one of my lingering questions and even explained things I didn't know I didn't understand well. So very happy to have found this before my exam. Thank you!
hy, Madam have you any idea how is lm model application?
if u hv then help me i m failed to understand how this model work?
One of the best teacher on economics
A brilliant explanation! Thank you!
This taught me more than my prof does in 2 weeks of lecture. College is pointless and expensive.
thanks man, was really helpful for my midterm
This is probably the best explanation on GDP. Concise, simple & informative :)
Macroeconomics tomorrow and you just saved my life!! Thumbs upp professor :))
How was the exam?
@@shockwave2477 lol i dont think hes gon reply after 7 years
No, you can’t prepare for exam from one UA-cam video.
Great lecture series Jason.
best explanation of gdp calculation. comprehensive yet simple
Wow! This is literally the best video for measuring GDP and circular flow! Love the content!! Thank you!
Thanks for the great walkthrough!
Thank you for clearing my doubt and making this easy to understand.
I am from science background. But the way of explanation help me a lot to understand about GD.. thanks a lot Sir
Your explanation is good enough to teach at any age. Thank you.
Thank you very much. I have spent days trying to understand this but did not until today. Really appreciate you.
Thanks, this is completely what I was looking for
Totally helped to get through my econ assignments.
You're a life savior.....my economic Jesus Christ!
Very clear, precise and coherent. Thank you.
Awesome, clear and understandable
Brilliant, very simplified and easy to understand
I believe the best way to measure a nations economy is to factor it's GDP, it's export/imports and it's external debt. If I can come up with an equation representing this factors I am certain a better comprehension of an economy can be illustrated. But the GDP portion my need to be tweaked. In any case please tell me what you think.
I think we need a clarification @9:00. Some government spending should be excluded in GDP calculation such as social security payments and welfare payments. These spendings are called "Non-production transactions."
Most usefull and effective video to understand the GDP of a country.
Ah the classic income and expenditure approach. Makes me miss teaching!
Why are taxes collected by the government not accounted in the income approach method ?
Can this method be done at a city/district level
finally understood GDP
WELL DONE AND THANKS
Awesome! thank you so much... every well explained!
Beautiful explanation.. I also want to know the product approach. Thanks a lot
thank you for explanation! but I still can not understand why it is said that household earned in the resource market ultimately is spent in the product market？ I think they may save some money, and invest to the firms instead of buying goods in the product market.
Thanks for this video. I have a question :I don't understand the example on the t-shirt buy in China . if i buy a product in a foreigner market how the money spent will return in US by export ? assuming that in the video we say an import is leakage in the cycle.
It nice Presentation about GDP. thank you
Thank you sir I am very helpful for this vedio
So simple. Thank you so much. What software did you use to give this explanation???
Love your work n teaching skills,
U made it very Simple and Easy.!
Countless thanks for magical explanation 👍🏼
profound and clear explanation of GDP. thank you!
Wow...you made the understanding very easy and simple❤👏👏
Excellent video
Excellent video.. Thank you so much
awesome. keep it up sir!
Thanks 😊 it's very helpful.
thank you for this! I really learned a lot!
i understood this more than my macroeconomic teacher greeting from me to you i appreciate your efforts
Hi Jason please make videos on econometrics.. yo u really did a great job... cheers
Is expenditure and income approach should the same output or must be veryical?
Thanks for a great lesson
In which category public corporate and sales taxes should be included?
Since transfer payments (welfare) isn’t part of GDP but financed through taxation, shouldn’t taxation be recorded as Government income?
Thank you. Crystal clear
Thank you! This helped me out a ton!
awesome !! I got it finally (thumb up)
tnx for the video..
sir do you know where to get those data for me to compute the gdp or estimate the future gdp of a certain country like the US or Eu? any online resources?
Concepts clear. Thank you so much.
Thanks for that lecture!
Very helpful ,thank you .
thank u...that's the best video to understand Gdp mesurmt
May I ask about the third approach which is Output Approach?
Great job
Very helpful! Thank you so much.
It is an amazing video for understanding the method of calculating GDP. It would be great if you could explain how a government calculate in reality? Where they collect the data? How to estimate the deviation of calculation?
Hello, great vid. I would love, if you have time, a copy of your flow diagram, i cannot find anything like it.
thank you so much , great explanation!!
very well explained
very good explanation. did u study in St. Gallen?
why we add depreciation in GDP when we calculate by income approach?
Awesome video. Really helped me. Thank you :)
Excellent upload
its very good learn
How are direct taxes treated in GDP by income method
thanks so much sir
Thank you. It was refreshing.
Thank you sir, it was extremely useful.
Sir i am your new subscriber...👍
great video...helped me alot
Thank you, well presented.
Thank you and God bless you and your family real good in Jesus mighty name for this good work. Amen.
Thank you, it was really useful.
Take for example our trade deficit. If we import more then we export a problem arises, it incidentally causes more demand for money that is not available and now there is less money in banks and in peoples pockets. So while it may look like the nation is healthy becuase people are spending the real question is where is the money going. In the case of a trade deficit the money is now going abroad. This,in my view,fails the GDP concept. Would you agree?
How do one calculate GDP in a Cummunistic economy?
Thank you sir
thanks so much for this video
Only money in the flow chart is calculated in the gdp ?
very helpful, thank you!
Thank you
Great video... thanks!
You are my IB survival
In summary in this video clip, income= expense. Is it correct? I am not sure. As I know, income - expense = profit or Loss. So the way to measure GDP by income appoarch and expenditure approach is not equal. That 's why 2 countries have the same number of GDP but one has national debt. Another has not.
And one more thing, government get money from
1. Tax ( normal way)
2. Borrow ( called bonds)
3. Just print money (called QE)
thank you so much for this :D it was really helpful
thanks
nice video