Everything you need to know about GDP, GNI, and HDI | International Business
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- Опубліковано 28 лип 2024
- GDP is one of the most common tools used to track the health of a nation's economy. If you often watch business news, you might hear economists and politicians discuss GDP quite often, but what exactly does it mean? How is GDP calculated, and why is it so important? In this video, I am going to answer those questions for you. In addition, I will introduce three other indicators that are also frequently used to evaluate and compare the economic development of various countries.
Didn’t really know much about this topic on everything you need to know about GDP, GNI, and HDI until i saw and read the information you provided to me. It helped me out about with the details you provided in this video and you didn’t really leave out nothing in the video in order to do good on the quiz.
This was the most complex video I've seen this semester, and I had to watch it twice to fully digest what it was saying. I have gone over GDP in previous years in different classes, but I don't ever recall seeing GNI nor HDI. This video was really helpful for me as I've been thinking of relocating globally, and have the GNI and Human Development Index as resources is very beneficial!
I thought that this video was very informative and I really feel like I understand the GDP, GNI, and HDI a lot more now. It's amazing how much of a difference there is between some countries. Thank you!
This answered some much-needed questions I had about GDP specifically. I always heard about how GDP was measured and what it meant in terms of the country's success. This video highlighted the differences between GDP, GNI & HDI. HDI was very interesting to me, shows what the citizens of those countries truly think and how they live. Great video as always!
I've heard of GDP in several other classes but I had never heard of GNI or HDI before, Very insightful video!
This topic initially took me a little longer to understand because it was more complex, but I really loved the way you broke down the equations and took the time to explain each variable. This helped me learn more about the subject and was really helpful for taking notes. The graphs and pictures also made the video easier to understand and more interesting.
I found this video to be very helpful in a lot of different ways. The video is well structured and clear when explaining the key main points. Each form of Law is broken down into explaining each law and where it comes from. GDP,GNI, and HDI is broken down into simple terms making it easy to stay engaged. This video breaks down the facts and teaches the viewer complicated topics with simple words. Great video!
This video really kept to its title. I have always heard those terms thrown around on the news but now I have a deeper understanding of how it represents a countries economy. It also doesn’t paint the whole picture sometimes.
This video clearly gives the definition of the separations of GDP, GNI, and HDI. Super Helpful!
I did not know anything about GNI and HDI and very basic about GDP until taking this class watching this video. I really like the format of this video. It made it easier to understand these concepts. The breakdown of the formula was especially helpful. -Rachel Parker
The video did a great job at explaining what the GDP, GNI, and the HDI all are. All things that I had touched on at some point in my college career but had mostly forgotten about. So I appreciated the refresher.
I have always been a little confused about what GDP/GNI meant. This video really helped define those two terms and showed how they are calculated and what affects them. I also had never heard of HDI before so that was something fun to learn!
Lots of great informations that everyone needs to know, the illustrations help a lot to understand the concept! It's really helpful how everything is broken down and explained in detailed .
I have learned about GPD in many classes throughout school but never really been able to grasp the concept of it until I watched this video. The visuals and the description used in this lecture. I was not very familiar with GNI or HDI before watching this video, but I now have a very strong understanding of what all three of these concepts mean.
This video did a wonderful job of explaining everything we needed to know about GDP, GNI, and HDI. I loved learning about each one and the differences they have with each other. GDP is very crucial in the world and it is a good basis of what we depend on when it comes to statistics.
Before taking this class and watching this video, I was unfamiliar with GNI and HDI, and only had a basic understanding of GDP. I really appreciated the video’s format, as it made these concepts easier to grasp. The detailed breakdown of the formulas was particularly helpful.
Thank you so much for this informational video! This totally explained some of the things I was confused about! This video was easy to understand and I learned about GDP! Thanks!!
I learned a lot by watching this video. i knew some about GDP so it was a refresher but like x1000. It goes in depth and is very detailed. Great video and very helpful!
I'm really thankful for these videos. They provide much insight into the economics of business. Knowing the differences between GDP, GNI, and HDI was really helpful in understanding and identifying each one.
I haven't gone over GDP in a couple years, so this really help me review an gain knowledge about it. GNI and HDI were new to me. It was interesting to see how these differ and work together.
I love how you laid out in detail what everything is. Before this video and lecture I didn't that there was more than GDP.
This is an extremely valuable video for me in my class this semester. I have used this for many assignments and quizzes.
I was never able to understand when people spoke about GDP, GNI, or HDI. This video helped give me a clear understanding of how important these terms are and what they mean since they are used so much.
The way the GDP was explained and why it is important to us was great. moving to the way it is calculated with the provided equations makes it even more simplistic.
The in depth look at the equations of GDP = C + I +G + NX, GNI = GDP + NFFI, and the different parts of the HDI was done very well. I personally loved the look into the different rankings of the world, as well as their performance.
I learned so much from this video! I never fully understood GDP before I watched this, but this taught me the effects and its purpose. Human Development Index was also very interesting to me. I didn’t realize how much GDP and DNI differ in some countries. I liked seeing the different indexes across countries around the world are their comparison to each other.
This video helped me a lot to understand the difference between GDP, GNI, and HDI as previously I've mainly only heard of gdp so it was good to learn about a few more business terms.
This video gave me a better insight into what exactly GDP/GNI and HDI are. It helps me know exactly what factors into each one and what drives them. I learned that they were not exactly what I thought they were and also learned how it affects each country.
This video has a lot of good good points about GDP, and the illustrations were very helpful.
Before I watched this video, I had always been confused as to what GDP was and why it was important. After watching your video it helped me understand what and why it was so important, thank you for going into depth and explaining GDP very well!
This video helped break down the intricacies of GDP GNI HDI and drastically improved my understanding of the topics.
Prior to this class, I had no idea what most of the things in this video were. After listening to this video I feel like I know so much more. Most of this stuff will be helpful to have knowledge on for any future job I have, and I am happy that I was able to obtain the info now instead of trying to learn on the fly.
I learned a lot from this video. I had heard of GDP before but was not confident in my knowledge of it. I enjoyed learning about the three different methods to determine the GDP. Before this video I thought that GDP was the best way to calculate how wealthy a country was. The video did a great job of also explaining GNI and HDI.
I have a much more in depth understanding of terms such as GDP and GNI after watching this video . These can often be accurate in measuring how countries economies compare to each other.I enjoyed getting a refresher course on these three aspect to measure a countries economic well-being.
This is an excellent educational film on GDP, GNI, and HDI. It greatly aided my understanding of the significance of GDP and the impact it has on the economy. I also acquired new concepts such as GNI and HDI, as well as their purpose and impact on a country's economy.
This video gave me a better insight to what exactly GDP/GNI and HDI. It help me know exactly what factors into each one and what drives them. I learned that they were not exactly what I thought they were and also learned how it affects each country.
I really enjoyed this video because it allowed me to re-learn what GDP is along with teaching me in a better way then the previous years of going over it. I also was able to fully grasp the concept of GDP, GNI and HDI. The video was a clear teaching method and helped me tremendously learn about these topics.
The information provided in this video was enlightening, particularly regarding GDP. The viewer realized that the concept has become more complex over the past four decades since their high school days. In today's rapidly expanding global economy, there are numerous additional factors to consider. The video offered a comprehensive and insightful explanation of GNI (Gross National Income) and HDI (Human Development Index), which helped the viewer gain a deeper understanding. Moreover, taking into account the increasing world population added valuable perspective to the topic. The viewer expressed appreciation for the thorough and thoughtful approach taken in the video's explanations.
This video helped me a lot as I am a visual learner, so the graphs and pictures really helped me to understand a difficult concept.
Before I watched this video, I did not really understand what GDP meant. I love how you broke GDP down and made it much more simple to understand. I did not know how to calculate it or how important it is when evaluating countries
This was a nice refresher and deeper take take of GDP. I had no idea about the other two measures before this video.
prior to this video I didn't think to evaluate a country besides the GDP but this described in depth the importance of not only GDP but also GNI and HDI.
Very in-depth analysis on how to assess the nation's economic wellbeing and how to calculate it. Provided me with the knowledge to solve different states of economic growth and decline along with its hinderences.
I found this video very interesting and helpful. I appreciate how the narrator gives in depth definitions of each of these terms, and really helps the listener to fully understand the concepts. The examples given are also very helpful and help expand my previous knowledge on this topic by allowing me to think about it from a real-world situation.
I enjoyed this video and found it very helpful. This video lecture help better explain GDP, GNI and HDI. GNI was probably the hardest concept to understand but this video was very helpful.
I thought this video was very interesting and neat to watch. I really enjoyed learning the different equations and what each part means and how it plays a role. I am a very visual learner and I think the pictures and graphs with these things put into perspective made it easier to understand.
In most of my general studies classes in high school I always had a good understanding of GDP. It was good to learn about the differences between GDP, GNI, HDI.
I remember learning about GDP in grades school, this video provided a thorouh review of the topic and gave a better understanding of everything to do with GDP. I also took away new information on GNI, HDI, and GPD Capita three other indicators that are used to evaluate and compare the economic development of various countries.
This was very informative, I thought I had a good handle on GDP, guess things have gotten a little more complicated in the 40 years since high school. In our ever-growing global economy, there is so much more to be considered, and when you think about all of the different factors, it all makes sense. I appreciate the thorough and thoughtful way GNI and HDI were explained, and when you consider the growing world population, it helps put things in proper perspective.
Before watching this video, I always heard about GDP, but never knew what made up the US GDP. This video helped me learn what GDP is, and what it’s used for.
the video is a very useful, really like how it breaks down all the info.
This video was very informative. I have always had a hard time understanding topics of GDP, GNI, etc., but this video definitely helped me to understand the concept a little more. GNI and HDI were also pretty new to me. I believe in the past I have touched on it, but was never fully taught what they are and why they are important.
I found very useful this video. Understanding these concepts is a basic that all the students need to know for this course. I like that not only explains the concept, it also talks about how to calculate each of them and when are they being used in our daily routine.
Before watching this lecture, I already had an understanding of GDP. But after watching, knowing how GNI and HDI affect the data behind reading countries can provide a lot more context when looking at overall performance.
Being in the United States, I only knew about GDP. This video does an excellent job of breaking down economic success in multiple ways. Success is measured not just by money but also by the culture of a country.
Never knew how much impact the GDP had in our everyday lives. This video provided a lot of interesting information
I did not fully understand the meaning or the value of GDP in an economy and this video better helped explain it. I learned a lot of valuable information.
The biggest factor this video taught me was to take a deeper dive into the capital and logistics of a country rather than just following the GDP. I did not realize the affects and how much discrepancy there could be in GDP and GNI. Many countries have a much higher GDP than GNI, meaning they lose a lot of money due to foreign income and they aren't doing as well as it seems. Luxemburg is a great example as there GDP is almost 30 billion dollars more than the GNI due to there trading laws and money going elsewhere. However, the U.S is relatively the same. It was awesome to learn about this and see true insight of a countries well being.
I knew what GDP. GNI and HDI were but I liked this video because it really helped me get a better understanding of how it all works. I always knew what is was but didn't know a lot about it.
this is a really good informative video about GDP, GNI and HDI. it helped me a lot to understand the importance of GDP and the impact that have in the economy. i also learned new concepts as GNI and HDI, i learned their function and their influence in the economy of a country.
After watching this video, I am able to explain what GDP is, how it is calculated, and what the different kind of Gross Domestic Products there are. I am also able to say I know the full GDP=C+I+G+NX formula. Great video very informative!
I recall studying this concept in my economics class, but visually comprehending the distinctions with real-world examples significantly enhanced my understanding of the differences among all three. It's astonishing that not every aspect is factored into GDP, acknowledging the non-relevance of certain elements such as underground activities. The introduction of HDI was novel to me, and I appreciate the notion that wealth alone does not accurately reflect the quality of life people experience.
This video was super helpful and in depth in comparison to the economics courses I've taken previously. I am curious to know what the GDP would for the U.S be if the underground economy was accounted for. I also found it interesting how big of an issue income inequality is! I know it has been an ongoing issue but I didn't realize that people can still live in poverty even if the GDP is increasing. Super insightful video overall!
I was aware what GDP was before watching this video. After watching I had a better understanding on what it means. I also learned new terms and how GDP has a tremendous impact and is a good measurement for a country's interaction
I’m glad I watched this video to better help solidify my understanding of GDP and other systems of measuring a country’s socioeconomic well-being. I think that the implementation of other means of analysis is important in gaining a more all-encompassing understanding of how a nation is performing in terms of wealth in different aspects along with how an average individual in this country benefits from the economy in terms of health, personal development, and income status. GDP alone has many pitfalls that do not consider important contributions to a nation’s economy. However, there will still be inevitable components that slip through the cracks such as illegal markets and more.
I remember learning about this in my economics class. But seeing these visually explained with examples really helped to better understand the difference between all 3. It’s crazy that not everything is considered in gdp because of how non relevant some things can be like the underground examples. HDI was new to me and I liked the idea that wealth doesn’t tell what quality of life people have.
This was a little bit of a more complicated topic that was difficult for me to understand at first but I liked how you display the equations in a segmented format and take the time to define each variable this helped me when taking notes and was very beneficial to understanding the topic. also the graphs and visuals added greater understanding and made the video more interesting
I appreciated getting a refresher course on these three indicators of a country's economic well-being. I've always thought that HDI was the most important indicator of a country's performance. It isn't always about how much a country spends, saves, or produces. The bigger picture is looking at people's life expectancy, education, and financial situation.
I had a basic understanding of what GDP was but this video helped me to go beneath the surface level to understand the different factors that go into it. It was interesting to see how the United States GDP compared to other countries and the impact and importance of GDP.
This video refreshed my knowledge on GDP and informed me more on GNI.
This video was incredibly informative. I did not realize the difference between GDP and GNP. They are two very different abbreviations that measure completely different things despite sounding similar. I did not know that GNI could include revenue earned internationally.
Thank you, great illustration and very informative. It is a surprise to me to see how high India ranking in term of GDP compares to other developing countries. I also didn't realize that there are other ways to measure a nation's economy such as GDP, GNI, and HDI.
Thank you for explaing me GDP. I took economics classroom last semester. However, I could not understand GDP. Thanks for this video I completely understand the GDP.
After watching this video, I have a much more in depth understanding of terms such as GDP and GNI. These can often be accurate in measuring how countries economies compare to each other. HDI was a completely new concept for me. I find it interesting that life expectancy. education and standard of living can relate so heavily to the state of the economy.
GDP was always difficult for me to grasp an understanding of, this video however helped me gain a great understanding of it.
This video is good at explaining GNI, HDP. Everyone has heard of GDP but it is also important to learn how HDP and GNI also effect individual country's ability to provide for foreign investment.
I enjoyed getting a refresher course on these three aspect to measure a countries economic well-being. I have always believed HDI was the most significant in determining how well a country was doing. It's not always about how much a country is spending, saving, or producing. Seeing the life expectancy, education, and how well the people are financially is the bigger picture.
Good Lecture Video! I always forget there are three different ways to calculate GDP (expenditure, output & income approach). My In high school economics teacher only taught us the output method and my college economics professor reviewed the three methods but he too focused on the output and income approach. Thank you for reviewing the expenditure method. haha...I've watched this video several times and I still have to remind myself that its the expenditure method not the output method.
Personally, I was not really familiar with GNI and HDI so this video really helped me to better understand the difference between the two terms and it also explained well how GDP, GNI and HDI work and how important they are.
No prior to watch this video at the time of the semester I didn’t really understand GNP AND GNI meant and were. But with this video did really good was explaining what those two terms were and what can affect those two things. It also explain how important they are.
This video was very educational and is very applicable to us as adults in a country where GDP is frequently brought up. I am happy that I have a better understanding of its meaning and will be able to apply this information when hearing about the state of our economy. As the video said, GFP is highlighted by the government during economic rise and by the opposition during downturns, so my understanding will now allow me to involve my own critical thinking.
I already knew what this terms meant, but this video helped me understand how to apply them when taking crucial decisions. This KPI´s make relocation, expansion and manufacturing plans a lot easier to execute effectively.
I have studied these economic measurement tools before, but they were difficult for me to understand. The graphics in the video gave me a visual picture, and they helped me have a clearer understanding. I found it interesting that India made the chart for top economic countries. I was not surprised; however, that China is projected to outdo the United States in the next decade. I think it is important also to look at a countries HDI in order to determine how well the governement is doing and how the wealth is being distributed.
This video informs us about GDP, GNI and HDI, which are frequently used to evaluate and compare the economic development of various countries. I knew a little about GDP & GNI before watching this video, but after watching it definitely helped me to further understand, gain more knowledge and differentiate between the three.
I thought this video was interesting! I remember learning in Macroeconomics that GNP (gross national product) was used in the past instead of GDP to calculate a country's economy. While both are useful indicators of how a country is doing economically, this video helped remind me that GNI and GDP are used for different purposes. I remember from Macroeconomics that another weakness of GDP is that it does not account for the secondhand market.
It was cool to learned about the HDI and see what it consist of. Based on this I think its a very important factor for any decisions both business and personal when it comes to making international decisions. I feel like this is something I will take interest in and look at when I travel.
This was a very clear and concise video. I appreciated the simple explaining on why gdp is not the greatest way to truly compare the wealth and well being of countries. I never truly understood the differences between the different ways of measuring and the reasons behind them, but this video helped tremendously!
Glad it is helpful.
this class permitted to learn how internationale import and export works
I know GDP well but this helped explain it even better. I was not aware of GNI and HDI and how that affects a country. I fell like HDI proves how healthy a country is which is more likely to affect it's general outcome. If people are healthy, educated, and have a normal standard of living, it can only increase everyone's value. When we leave people behind medically, mentally or in poverty, it creates a gap that is uncertain and often unfair. This is the most interesting area to me.
The explanations of the three concepts are very helpful. I've never heard before about HDI.
I wonder what the GDP could be if the underground economy were included.
very good questiona and I believe it is very difficult to track because most of those activities are illegal.
If I am being honest I had no clue what GDP, GNI, OR HDI meant prior to this video but now I believe I can hold a conversation over this topic and that is thanks to this video. It did get a bit confusing while watching due to the many different formula's but I did enjoy the process of going from being confused to being like actually grasping the concepts. Overall, the video did very well with explaining and providing visuals when going over each index.
Back in high school they drilled the definition of GDP in our head but didn’t really in my opinion explain GDP anymore then how it’s the gross domestic product after watching this video it allowed to fully grasp and understand what GDP is and what all goes into calculating a country’s GDP.
I had never heard of GNI or HDI before so this video really taught me some new things. It also helps you to really see how important trade tariffs and relations with other countries regarding imports / exports is. There are a lot of factors that help define the economic success of a nation and it is definitely important to look at all of them before doing international business. The HDI factor causes one to consider the importance of looking at the social and educational system. If a company is wanting to engage in FDI into another country, can the local employees be taught the skills needed to support the production, marketing and customer service functions of the company. Does the social and educational structure and/or systems in place support that or would it be a lost investment?
Before taking your International Business class I was only familiar with GDP. I have always thought that there was more to being successful in life besides just making money, and now that has been confirmed for me since there is a metric (HDI) that measures it.
It’s interesting how GDP per capita can be so different from GDP overall. This seems to be a correlation between GDP, GNI, and HDI. I like how HDI takes other factors into account.
Great Video
I have always heard the comparison of economic growth through GDP. I enjoyed learning how GDP is calculated. I believe the undergrounds market is quite large and if there was a way to calculate it it would add a major increase to the countries GDP. I enjoyed learning GDP per capital and what countries have the highest GPD per capita and how it compares to the counties GDP.
In this video i learned that GDP does not include underground market or black market money. The actual GDP of a country has to be estimated with a percentage of what they think accounts for underground market added to the reported GDP. Overall the video was very informational.
This video provided a thorough overview of how to calculate GDP as well as the significance of each letter in the formula. I discovered that if the GDP grows, the government is sustaining a healthy economy. In the other case, if it is falling, the government is perpetuating a terrible economy. GDP determines how much money should be spent on public services and how much money should be raised in taxes.
I took economic class back in high school, and frankly, it wasn't really informative and I did not quite understand it. I did my own research afterwards and this video helped me understood even further of what I have known. Essentially, these are all methods to measure what a countries' economy looks like by measuring different variables. Each have their advantages, but falls short on another.