gdp and gnp

[AvalyanMedia]

Hello, I'm interested in calculation of nominal/real gdp and gnp... if it is not hard could you make a video about it or at least explain me how to get through it...

[Killuminatismd]

Very good job. no doubts

[adijo123]

Wow. Any amount of praise is simply not enough for you Mr. Phil Holden! Please don't stop making videos. It is helping self-taught economics students like me a lot! :)

[TheMoestyle]

Thank u!! :)

[Pearldivaz]

thankyou so much sir!

[rikkinshah1986]

Good job

[simpaticaism]

I think he makes the point very clear GDP as a measurement was made up, just as a story is made up. Stated by a maths professor guildford university in a more eliquant fashion than me.We are learning banks governments & financial advisors just love story telling, that amounts to nothing more than a load of crap. Go back to the time when the term GDP was invented and then go back past that, you will find yourself in a financial word that based finance on sound maths not story telling !!

[Shanghaipartyrockers]

god i wish u were my teacher!!!

[TheShyTiger]

yessssssssssssssssssssssssssss­ssssss now even i get it hahahah

[TheShyTiger]

yessssssssssssssssssssssssssss­ssssss

[TheAmjad21khan]

Thanksalott sir... I would like to know to adjust inflation rate while calculating GDP...

second question is while calculation NNP why we deduct depreciation. ?

[sassyden1]

Thanks for explaining GDP better than my professor.

[runner4754]

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[ScarkProductions]

@runner4754 But will the combination work?

[milh467]

@ScarkProductions but will it blend?

[ScarkProductions]

@milh467 Letzzz finnnd out :3

[donelikethis9]

THIS WAS GREAT. plus the accent makes makes it nicer to listen to! haha i understand now!

[johnatv1995]

Very good, I was going to right I'm so utterly screwed on my notes until i found your videos.

[pakkkkistan]

YOU DESERVE A NOBLE PRICE, HELPING EVERYONE AROUND THE WORLD WITH YOUR VIDEOS.

[ladybikercora]

I love this guy! Makes so much sense!

[avnish232]

Would it be correct to define economic grawth as such: ''a persistent and sustained rise in the per capita income accompanied by a rise in net welfare''??????????

[TheJasmineee]

did he mean the world economy is 37 billion or trillion?

[leratao]

@TheJasmineee He said billion but fair sure he ment trillion

[93Meercat]

Hi, great video thanks!

I've got one question: does a rise in VAT result in a rise in GDP? If so, shouldn't that have made the UK experience a rise in GDP at the start of 2011?

[tarooqii]

I want to hug this guy.

[stephenrodwell]

Great video, very helpful. Thanks.

[Arif4989]

Thank u so much Sir for uploading and helping me, i found it very usefull, may God bless u:)

[ajaisinghkhalsa]

Thanks for breaking it down into such easy to understand language. I remember falling asleep in business school here in the US and your delivery is very refreshing.

[AnamAfridii]

The value of YOUR teaching is $ 74284987420924895537223 :D

[hasher68]

PLEASE SIR CAN YOU TELL ME THAT ARE ALL YOUR VIDS FOR AS EDEXCEL?

PLEASE RELY

[Lukawa345]

I heard Greece has the highest unmeasured economic acitivty ;)

[jrrictservices]

thank you so much for doing all of this! I just found out about this yesterday so didnt know about the revision sessions!!! i will definately attend if you have any more in the future. Thank you sooooo much!!! you are a great teacher!!

[LukasLeonardoRoth]

Great help, beats my economics teacher in uni!

[TheLoves100]

absolutely love your tutorials but it'd be a lot better if I find a bit of smile on your face

[dudupnmw]

Excellent....reading GDP was truly boring me..... you've clearly explained GBP in heartbeat....thaaaaaaaaank you :-)

[RMena64]

can you please teach all my classes???!!!!

[mohammedjwd1]

my hero!!! my teacher is just dump!

[dodoboy1212]

37 trillion not billion :p

[bigmangiff]

great video, this really helps my understanding, advantages and disadvantages, linking to other economic concepts and definitions :)

[MargaritaShamrakov]

Great explanation!

[ericonomist7]

You are a great teacher indeed! I learnt more from your videos than the whole course of Macroecon I took in my university. Thank you very much!

[TemplarX2]

Hi, you are gathering quite a following. I'm an engineering student and my gf is doing a business degree and I have to help with the micro and macro economics assignment because I'm a natural at maths and easily grasp the economics concept. I love your lectures. They help a lot and are easy to understand. Thanks.

[ghostmarine1000]

Now iam off to write my final grade 12 economics exam

[gopikrishnangr]

thanks for the lecture. its really usefull. i didnt know that economics is so interesting. thanks a lot .

gopikrishnan gr ( from india) :-)

[sugabayer]

I wish I'd found your videos sooner. You make it so easy understand. Thanks!

[unPREDICTABLEE]

THANK YOU SO MUCH, You are currently going to save my arse in my ECONMIC course! :) You are SOOSOSOSOSOSOSO MUCH BETTER than my economic prof!

[MrCm1988]

great explanations , glad I came across ur videos !!!

[ichariley]

This is really convenient. In class I can't pause nor playback my teacher. :)

[watermel0n123]

I can't stop looking at your eyebrows and line down the forehead. hahah it's like an act right there

[Karousha]

awesomeeeeeeeeeeeeee.......jus­t brilliant!

[xagzy]

thank you ! I am taking series 34 and this help me in the market knowledge

[dildarian24x7]

thanks for posting....its great.

[dildarian24x7]

awsome awsome awsome....thanks for posting.

[chromi71]

very well done, and you answered all the questions I was searching for without haveing to view other sources.

[GoneWld]

brilliant absolutely brilliant !!! keep up the gd work !!!!!

[selfrealizedexile]

motions just to break even? No, no, people are motivated by improvements in their situation. This is the genesis for the subjective theory of value, of course, and the logical explanation for the existence of trade.

Tell me, how much have you studied of the Austrian School?  Who knows, you might actually like it or at least be further cognizant of the inherent difficulties in Neoclassical and Keynesian economics.

[Daewone]

@selfrealizedexile Yes, you are smart.

How about you work on improving the whole macroeconomic system instead of wasting time on youtube?

[selfrealizedexile]

@Daewone

The work has already been done in correcting Keynesian / Neoclassical economics. Aggregative macroeconomics is self-defeating; it cannot grasp the interrelationships between various goods and services in the structure of production, to say nothing about intertemporal relationships. You can't just add up spending and mindlessly boost AD. There's a reinforcing relationship between, say, gasoline and engines, mechanical engineering paves the way for electrical engineering, etc.

[selfrealizedexile]

@Daewone

Keynesian economics completely misses the infinite complexity of the market in pursuit of its models. There are even relationships within an exact good or service based on position (oranges grown in Flordia vs Venezuela, etc.). Keynesian economics = toddler economics. Keynes felt he could simply add up everything as if it was all homogeneous; it was no wonder he hated the market--he couldn't ever understand it!

[selfrealizedexile]

4:45 This explanation would entail the Smithian objective theory of value circa Classical Economics. You know this is false.  You say it isn't very accurate, but it's more than just not accurate--it's blatantly incorrect. The only thing we can say about the nurse who makes, say, $60,000 annually is that she values the net income over her opportunity cost (otherwise she wouldn't have made the exchange; just as I value the milk I purchase over the $3.14 I pay for it, otherwise why go through all

[selfrealizedexile]

Most of these commentators are completely oblivious to the modern debate over statistical macroeconomics.

3:10 Measuring GDP will not validate whether an economy is growing sustainably or whether a gov't policy achieved that. Gov't simply needs to increase its spending to raise GDP. This does not necessitate that you have sustainable growth. You can't make that logical jump. If it were true, we should ad infinitum promote gov't spending and on literally anything.

[chellemarie2010]

Great explanation! thank you sir!

[chellemarie2010]

Great explanation!...

[Closedcorners]

thank you so much for ur videos sir. its been a great great help.

Prays from Pakistan for you.

I would really love if you upload some more videos for paper solving of the AS level and the A level along with few more topics like living standerds and less developed countries. Regards. Mohammed Shahrukh.

[barcelona4life1991]

im gonna burn a zoot with you after the exam you are brilliant i will come 2 greece cz u have saved my life literally !

[pajholden]

@barcelona4life1991 not sure what "burning a zoot" entails. Does that make me old?

[dovislt]

@pajholden He's inviting you to smoke some weed :D

[pajholden]

@dovislt oh dear - I don't smoke any kind of anything. Still - I learnt a new word today.

[GeraldMangold]

@barcelona4life1991 

[ItsDannyGray]

You are better than my economics teacher!

2 Days before my exam and I'm learning so much more than my whole year of education xD

[soccerprime]

Currently have IB exams, actually my Economics exam is tomorrow and I am really grateful for uploading all these videos. I speak on behalf on everyone who has viewed your videos.

[magpiedeterginator]

OMG

economics has finally been translated into english... this guy should be getting paid to do this.

god speed

[waynemagri]

king

[cjpsyche]

the BEST ECONOMICS TEACHER in the world!!! Thank you, so very clear explanations! It's a really a big help for me to understand the economics concepts better.

[pinkywray83]

Thanks, i'm doing exams tomorrow and your videos are brill. :)

[LChinese1991]

I wonder how people didn't know this before watching this video... Are you all younger than 16 years old?

[bunce101]

thank you sir!

[PB111627]

Great clarity, thanks very much! You deserve great success!

[pinstripe21]

hi phil, great video! one question though: you mention that gdp is estimated with a degree of inaccuracy. i guess this is something like measurement error? just assuming this stays constant across time doesn't seem enough to me to talk about small relative changes in gdp though. because if the change (eg. 4% in your video) is within measurement error, then this is not really a "significant" difference..... or is it?

[fran42493]

youve really helped me understand a bunch of concepts. thank you so much you make econ so clear and easy! MANY MANY MANY THANKS

[torniai]

You're the man!!!!!!!!!! Many thanks!

[aaleyr1]

NICELY SAID

[tony21c]

NOOOOOOOOO, I mixed up the GDP and GNP in the test last week. shoot...

[balplayer0]

I wish you got into more about the impact of inflation and nominal GDP. And maybe some more about GNP. Helpful video though, thank you.

[Mann1979HH]

GDP is the BIP (Bruttoinlandsprodukt)

GNP is the BSP (Bruttosozialprodukt)

and in the song:

Geier Sturzflug - Bruttosozialprodukt 1983

I heard the word "Bruttosozialprodukt"

for the very first time. How about you people?

[castelinop]

Interesting video

[RememberSeptember]

i have Mock Exams in the IB at the moment, two papers in Economics tomorrow, and watching through your videos now really made that last night preparation effective.. Thank you!

Do you talk infront of a class in these videos, or just the camera?

[kyo1city]

sick

[ashwet124]

thank you

[mentalblueskyseeker]

You made me reconcile with economics :)

[pabel18]

nicely done!

[nikobrown1990]

at 4:29, id calculate a teachers value through the grades of his or her pupils

- your value on the other hand is priceless!! these videos are so useful, thankyou =]]

[NIXTER71]

at 2:28 I think he means 37 (thousand) billion dollars, not 37 billion dollars.

[majortom321]

thx!!

[SourCandy24x]

Wow. Thanks! I'm definitely subscribing. I'm taking Macro and there's a couple of things I find so confusing. You make it so easy to understand! Can you come to NY and teach our class? :) Well, five stars.

[88Christianson]

THANK YOU!!!!!!!!!!!!!

thanks alot man

This has contributed alot to my "Human Capital Investment" or in other words. My education :)

[peaceend]

Your lectures are always a great source of motivation for us to become economists. Thanks please Put something on Quantity Theory of Money.

[lamesurfer101]

Some use to me? Sir, someone should be paying you to do this more often and explain more of these terms! But I'm guessing that the marginal utility you get from creating these videos exceeds the opportunity cost...

[freesoul2005]

Does increase in "economic growth" mean the same thing as increase in GDP?

[23580578]

the greatest techer of 20 th century ,,,,,,,,,,long live this teacher ,,,,,,,

[MiissCiia]

@23580578 lol. I concur.

[nishu23gupta]

i didnt choose economics as my options next year................ if this guy was my teacher then i would have never dropped economics... he knows what he is talking about and he is bl**dy good. keep it up, man

[Th0usandMaster]

WOW another great education video

just a question

will they count all the illegal outcome/income?

like drugs, weapons, and so on

which is quite obvious to the public like methamphetamine factories and ecstasy factories

and if they count, how did they count? market price or what?

[Arliexzter]

No. Illegal income such as piracy, gambling, and drug trafficking cannot be counted as GDP. Illegal income is one of the factors of the mistakes in calculating GDP, alongside problems and flaws in info searches, calculation of non-profit activities, double calculation, wrong depreciation computation...

[Th0usandMaster]

i see thanks for the answer

[markimak]

thanks alot mate. from some griffith students in australia. ur doing a good job. wish my lecturer would go this length. cheers

[niallzx]

U DA MAN!!!!

[ketchness]

u don't find teachers like u anywhere these days you clearly teach because he loves it and wants to help...

i woke up early this morning (day of my exams) and sat 2 wathc your videos.

[xcaliburn]

same here x) - good luck

[titofagbenle]

im gnd do exactly that 2moro

[dudettemaz]

mr holden

you are a complete and utter LEGEND

thank you soooo much for your videos!

[ptweezy1]

u are truly a good teacher who is dedicated to doing his job. hope u succeed at it

[sammykmeil]

wow wow wow, you should be knighted good sir.

[somicdj]

i second werson007's compliments. especially the envy part.

[upplowd]

Great Help. Exactly what I was looking for. Thank you.

[starblazers1969]

Thank you for your help.

[msaadafridi]

god bless yu :)

[saniya72]

top teacher - all lectures are well explained  - thanks ever so much

[786panther786]

Mr. Holden, the output of the world is worth $37 trillion and not $37 billion (which you said by mistake, I guess) .

Anyways, you are a valuable resource to all Economics students. Please cover whole A'level topics. Also, post a video on tips for Exams or on common mistakes made by students and how to avoid them. Thanks :)

[sreekeshyd]

thank you, for your effort, and time

[precakan]

thx

[biscuitparty]

you should definitely do more videos. You are an awesome teacher!

[rimple24]

Your videos are great and really help with my reports. Thanks.

[skpann]

thanks!

[nichioku]

That helped me with my work. XD... Thanks a lot. =D

[loverofbeats]

wow! insightful, i loved it, thanks.

[murcork]

excellent! tanx

[michaele334]

Excellent presentation and video.

I wish my uni lecturers were as clear as you!

Thanks again.

[kiranp747]

very well presented, thanks for your work.

[qodir]

appreciate you work...marvelous

[sivaprasad2020]

Absolutely awesome. I have never felt economics so clear

[GingerFish85]

very nice job.. congrats!

[animationbrewery]

Very well done. From a visual perspective - some better lighting would make this a top notch instructional vid. The presenter's face is too dark on the one side - I recommend some fill there or perhaps move the key light and fill appropriately.

[connorbag]

very helpful

[rulllar]

it was interesting, thanks!! I wonder what is done when comparing countries to minimize the effects of the distortion from (for example) one tax rate to the next..

[rfvo]

Very interesting indeed, cheers!

[sw6655666]

well done

thanks a lot

[B0ge]

Great performance and easy to understand. Thank you!

[jaywon06]

thanks 4 the vids, good stuff!!!!