This lecture discusses economics growth, GDP, and business cycle. Economics fluctuations in outputs cause business cycle. If we plot GDP versus time, we come to see an interesting cyclic behavior in GDP which is termed as business cycle. After suffering through contraction phase, economy enters in recession and then recovery and expansion phases. A proper analysis of GDP can give greater insights at macro level and that knowledge can be utilized to make greater profits by global funds who have significant diversification in different markets. A dollar value of GDP can be estimated by two different approaches: expenditure based approach and income based approach. Expenditure based approach tries to estimate GDP after totaling the spending to produce goods and services. On the other hand income based approach estimates totaling income generated by goods and services.
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