You are welcome to ask questions on Economics. I am looking to explain economic principles / ideas/ recent developments in economics. Due to the volume of questions, I can no longer promise to answer. But, I will try if it meets below criteria.
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- I am looking to explain economic principles / ideas/ recent developments in economics.
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I studied PPE at Lady Margaret Hall college, Oxford University, and currently work as an Economics A Level teacher. I have also examined several different economic units for Edexcel AS and A2.
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Hi Steave
According to CIA UK has 68% national debt to its GDP. But actual figure may be little different. Debt may be divided into two parts.
1.National Debt-It is debt owned by country s own residents. Means to say government has taken loan from its one country in their own currency. It is called internal debt.
2.External Debt- This debt owned by congeners lenders.
National debt is not as big problem as external debt. One main reason is that government has right to print money. So it can pay national debt. But it shows undisciplined monetary policies and may have bad effect on economy specially devaluation of currency.
UK Government has taken loans and UK residents are lender. It depends on how much income government has to satisfy its financial needs.
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Hi,
Basically, during the EAster holidays i’, doing a revision course for all my subjects, but in AS Economics, they only offer Edexcel and AQA, but i do OCR in school. Can you please assist me by telling me which of the 2 boards are most similar to OCR?
Thanks
with regards to uk,s national debt is there any way to see who the debt is actually owed to as the man in the street can not get an answer to who his country owes this debt to
Hi Travis
Who says china is going to become a great super power. I do not think so. Yes it may , but at the moment it does not seem.
What is Super Power? A country is a super power if it has a very big share in world GDP and Technically it is leading in the world. Today even America is not a Super Power, it is just a biggest power in world.
China ‘s GDP growing , But per capital income is much behind. It is important only because it has more than billion population. There is huge poverty in China.
America was super power because it had huge resources. At that time America drilled huge quantity of oil more than any country in the world. It had huge agriculture surplus.
But China is feeling shortage of energy resources. When Crude oil will go up, it economy would surely has bad effects.
American Economy was much balanced but China is depending hugely on exports. It makes it dependent.
Most important China is much behind in technology. Its technology is much older than America.
I really never heard news about scientific and technical inventions from China. But these were common from America.
Even China is depending on other currencies. American dollar was considered as a global currency.
Yes if its GDP growth remains same in long run (but it is not sure), at one time it would be largest and important economy of the world.
bye
Hi Akhsay
Current account surplus means how much net money is coming in country . Money can come in form of exports, interest or dividend etc and can go in form of imports, interest etc. If net balance is positive it is current account surplus otherwise current account deficit.
Capital account is related with capital. Capital account is difference between investment in a country by outsiders and investment in other countries by that countries. India has large capital account surplus.
Yes it is possible for a country to have both current account surplus and capital account surplus at same time.
Monetary Union is just a union made by some rich countries for controlling , stabilizing and sharing monetary policies. Joining a Monetary Union does not make a major effect on output and full employment. Yes it may have little effect on it. Poor countries may take some help from union in form of donation or loans.
If a country joins Monetary Union, it may bring more discipline in monetary policies inside country.
Thanks
I am going to marry on 8th of February at Banga, Punjab. So after some days I would be busy in my marriage .
bye
Hi Kaihua
Purchasing power parity is a term we used mostly in calculating income specially per capital income. In this, income is shown how much income one has in term of purchasing power. Money is nothing, it is just a purchasing power. We compare per capital income not in form of currency but in form of purchasing power. Because not even a single currency is exchange at natural rate.
Real term income shows income in currencies exchange rate. In general Low level income countries have high income at purchasing power parity than in real term because goods and services are cheap in their country than devolved countries.