Download fourth edition Philip Mohr

fourth edition
Philip Mohr
UNISA PRESS
PRETORIA
Figures
Tables
Boxes
Abbreviations
Foreword
Preface
.
ix
x
xii
xiii
xv
xvi
topter 1
Introduction
1.1
1.2
1.3
1.4
1.5
1.6
Economic indicators
Assessing the performance of the economy
Sources of economic data
Interpreting economic data
Some basic concepts and techniques
Plan of the book
1
- 1
2
3
7
12
16
Total production, income and expenditure: the national accounts
n
2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
2.10
2.11
17
19
20
22
27
29
30
34
36
38
41
The national accounts
Total production, income and expenditure
Gross domestic product (GDP)
Three approaches to the measurement of GDP
Valuation at market prices, basic prices and factor cost
Valuation at current prices and at constant prices
Some problems associated with GDP
Gross national income
Expenditure on GDP versus GDE
The national income and production accounts
Saving
VI
3
Economic growth
3.1
3.2
3.3
3.4
3.5
Calculating annual rates of change
The appropriate basis for calculating economic growth
Graphic representation of economic growth
Analysing economic growth from the expenditure side
Analysing economic growth from the production side
Business cycles
4.1
4.2
4.3
4.4
Definitions
Determining the turning points of the reference cycle
Business cycle indicators
Other approaches to forecasting economic activity
Employment and unemployment
5.1
5.2
5.3
5.4
5.5
Population data
Economically active population
Employment
Unemployment
International comparisons
Inflation
6.1
6.2
6.3
6.4
6.5
6.6
6.7
6.8
6.9
47
/
47
53
60
63
64
69
69
70
76
78
83
83
84
85
91
97
99
Index numbers
Price indices
The consumer price index
Calculating an inflation rate
Subindices of the CPI
.
The producer price index
Implicit price deflators
Comparison between different measures of inflation
Reporting on and interpreting inflation data
99
102
106
111
116
117
120
124
124
VII
apler' 7
International transactions
7.1
7.2
7.3
7.4
7.5
127
127
139
142
144
145
The balance of payments
Foreign trade statistics
Measures of openness
Terms of trade
Exchange rates
Wages, productivity and income distribution
8.1
8.2
8.3
8.4
8.5
8.6
Nominal and real income
Wage differentials
Minimum living levels
Productivity
Unit labour cost
Distribution issues
155
155
157
158
158
162
.164
„
Financial indicators
9.1
9.2
9.3
9.4
9.5
9.6
I
j
i
173
Money and credit
Interest rates
Some important interest rates and determinants of interest rates
Some technical issues
""
Share prices and other stock exchange concepts
Economic indicators and the financial markets
173
175
177
181
182
185
Fiscal indicators
191
10.1
10.2
10.3
10.4
10.5
10.6
191
193
195
198
201
203
Composition of the public sector
Statistics on the government sector
Government expenditure
Government revenue
Budget balances
Government (or public) debt
"
viii
10.7
10.8
Government saving (or dissaving)
Internationa] comparisons
204
204
Chapter 11
Social and political indicators
11.1
11.2
11.3
11.4
11.5
11.6
11.7
Examples of social indicators
Definitions
Some international comparisons
Human development index
Poverty indicators
Domestic comparisons
Some political indicators
205
.
/
International comparisons
12.1
12.2
12.3
12.4
12.5
12.6
219
Sources of error
Differences in definitions, methods of calculation
and coverage of data
The currency problem
Possible ways of dealing with the currency problem
Comparing South Africa with other countries
Politico-economic indicators
Some useful websites
Index
206
207
209
209
211
214
215
"^
220
220
221
223
225
228
232
233