Economics-Important

The___________

Just wanted to make sure that everyone sitting the economics paper on Wednesday is aware that the log tables are available to them, this means that we don't have to lean the formulas for PED,CED,YED,PES and certain National Income formula-my teacher rang the SEC to check this and they confirmed that the log tables will be available for use.

Finical

Nice one. The cross elasticity of demand formula always gives me trouble as for national income I stay away from that question.

FridaysWell

The___________ wrote: »

Just wanted to make sure that everyone sitting the economics paper on Wednesday is aware that the log tables are available to them, this means that we don't have to lean the formulas for PED,CED,YED,PES and certain National Income formula-my teacher rang the SEC to check this and they confirmed that the log tables will be available for use.

Noted but people don't forget to learn how to find:
Gross National Product @ Factor Cost
Gross National Product @ Market Prices
Net National Product too...

Vurnon San Benito

And best of luck to all doing this exam

pathway33

And don't forget to have your latest stats from www.cso.ie e.g retail sales index up 6%. Is this the start of the next boom? Motor trade up 35.4 % on last year blah blah.

FridaysWell

Does anybody know were to get pre 1999 paper marking schemes?
Examinations.ie don't got 'em!

NotExactly

The___________ wrote: »

Just wanted to make sure that everyone sitting the economics paper on Wednesday is aware that the log tables are available to them, this means that we don't have to lean the formulas for PED,CED,YED,PES and certain National Income formula-my teacher rang the SEC to check this and they confirmed that the log tables will be available for use.

Don't mean to be rude or anything but it's fairly obvious that they are going to be supplied and every one must have realized by now that the formulas etc are in it.:rolleyes: But thanks for informing us anyway

pathway33

NotExactly wrote: »

it's fairly obvious that they are going to be supplied and every one must have realized by now that the formulas etc are in it/QUOTE]

I wouldn't bet on it. There were people here 10 days ago wondering if they would get log tables for the maths exam so.....

Finical

pathway33 wrote: »

And don't forget to have your latest stats from www.cso.ie e.g retail sales index up 6%. Is this the start of the next boom? Motor trade up 35.4 % on last year blah blah.

Good point. What would be the most important stats to know for Wednesday by the way? Like could you bring the stats into any question if they're relevant.

pathway33

Finical wrote: »

Good point. What would be the most important stats to know for Wednesday by the way? Like could you bring the stats into any question if they're relevant.

In no particular order and I'm probably leaving a few out here I'd say



Unemployment rate
Inflation
Eurozone Interest rates
Economic growth
Government spending
Euro-dollar
Euro-sterling
National debt
Government debt / GDP ratio
Interest payments on foreign portion of national debt
Cost of servicing national debt
Tax revenues
VAT rate
Government borrowing
Exports
Number of houses being built
Decline in house prices
Emigration
Number of people in negative equity

pathway33

Finical wrote: »

could you bring the stats into any question if they're relevant.

If relevant, then yes imo

Finical

Thanks for all that.

Finical

Could someone give me the economic growth, exports and emigration figures and if they're improvements or worse off than last year. Thanks in advance!!!

lc2010

Do we actually have to have stats?
Like would I bo ok and still be able to get an A1 if I didn't include stats?
Btw I'm planning on doing
1. Demand etc.
2. Market Structures
3. FOP
4. Trade

cheers;)

Ashashi

pathway33 wrote: »

And don't forget to have your latest stats from www.cso.ie e.g retail sales index up 6%. Is this the start of the next boom? Motor trade up 35.4 % on last year blah blah.

I did that, but trying to find CSI stats and inflation stats are a pain, had to work them out myself :pac:

If my calculations are correct, inflation has risen 0.3%..... Think I might just take the figure in the news instead

Économiste Monétaire

pathway33 wrote: »

In no particular order and I'm probably leaving a few out here I'd say



Unemployment rate
Inflation
Eurozone Interest rates
Economic growth
Government spending
Euro-dollar
Euro-sterling
National debt
Government debt / GDP ratio
Interest payments on foreign portion of national debt
Cost of servicing national debt
Tax revenues
VAT rate
Government borrowing
Exports
Number of houses being built
Decline in house prices
Emigration
Number of people in negative equity

Finical wrote: »

Could someone give me the economic growth, exports and emigration figures and if they're improvements or worse off than last year. Thanks in advance!!!

I'll try to give these in order that Pathway listed them:

From the QNHS Q1 release:
Unemployment Rate: 12.9%
Number of persons in employment: 1.857 million
Number of persons unemployed: 0.275 million
Labour Force: 2.133 million

Inflation: CPI annual percentage change: -1.1%. HICP annual percentage change: -1.9%.

'The ECB interest rate': 1%

Economic Growth:
2008,
―GDP at constant factor cost (2007 prices): €164.387 billion
―GDP at constant market prices (2007 prices): €183.991 billion
―GNP at constant market prices (2007 prices): €156.760 billion

2009,
―GDP at constant factor cost (2007 prices): €154.611 billion
―GDP at constant market prices (2007 prices): €170.934 billion
―GNP at constant market prices (2007 prices): €139.017 billion

So, annual real GDP growth for 2009 was -7.1% and -11.3% for GNP.

2008,
―GDP at current market prices: €181.816 billion
―GNP at current market prices: €154.598 billion

2009,
―GDP at current market prices: €163.543 billion
―GNP at current market prices: €131.432 billion

So, annual GDP growth at current market prices for 2009 was -10.1% and -15% for GNP.

Government Spending and Revenue:
From January to the end of May this year, government current revenue came in at €12.294 billion. Current expenditure was €19.536. So, a deficit of €7.242 billion on the current account. When you add in capital receipts and expenditure, the Exchequer deficit was €7.867 billion.

Exchange Rates:
Here is the daily exchange rate with the U.S. Dollar.
For the U.K. Pound.

National Debt:
At the end of May 2010, Ireland's national debt is €82.9 billion. That as a percentage of GDP is about 51%.

Interest payments:
For the first five months of the year (end of May) interest payments on the national debt came to €1.856 billion.

Exports and Imports:
Exports of goods and services at current market prices in 2009 came in at €148.455 billion. Imports were €120.273 billion.

House Prices and Housing Completions:
According to the Dept. of the Environment, there were 26,240 housing completions in 2009. From the Q1 ESRI/PTSB house price index, nationally house prices are down approx. 19% from Q1 2009.

VAT: 21% from January of this year.

NotExactly

Can somebody just tell me the stats we need for the exam. I'm sure you don't need that many.

Bob the Builder

Finical wrote: »

Good point. What would be the most important stats to know for Wednesday by the way? Like could you bring the stats into any question if they're relevant.

Yes, thats what your expected to do...

Turn on your economics ears as my teacher says...

Bob the Builder

NotExactly wrote: »

Can somebody just tell me the stats we need for the exam. I'm sure you don't need that many.

You need at least 3 or 4 statistics for each topic.
Then a few for oil.
Then a few for NAMA
And NTMA too...

If statistics aren't your thing, you shouldn't worry about them, but they're handy to know.

GVNDNN

pathway33 wrote: »

In no particular order and I'm probably leaving a few out here I'd say



Unemployment rate
Inflation
Eurozone Interest rates
Economic growth
Government spending
Euro-dollar
Euro-sterling
National debt
Government debt / GDP ratio
Interest payments on foreign portion of national debt
Cost of servicing national debt
Tax revenues
VAT rate
Government borrowing
Exports
Number of houses being built
Decline in house prices
Emigration
Number of people in negative equity

Are each of these stats available on the cso website?
I haven't a clue how to work that site

FridaysWell

GVNDNN wrote: »

Are each of these stats available on the cso website?
I haven't a clue how to work that site

Your best bet is the RTE business website.
Just look at the side bar, to the left, you will see 'Economy at a Glance'
Most of the satatistics are there.

Hope that helps :D

http://www.rte.ie/business/index.html

RyanK

Does anyone have any notes on NAMA? Just stuff that may be in an exam question like... Roles of NAMA etc.

FridaysWell

RyanK wrote: »

Does anyone have any notes on NAMA? Just stuff that may be in an exam question like... Roles of NAMA etc.

Yep.
PM me your e-mail and I'll send them to you.
Same goes to anyone else that needs 'em.

GVNDNN

Thanks for that, helped alot

Bob the Builder

FridaysWell wrote: »

Yep.
PM me your e-mail and I'll send them to you.
Same goes to anyone else that needs 'em.

^^^^ Sent me notes that were very helpful. Thank you

MiamiMortimer

Ashashi wrote: »

I did that, but trying to find CSI stats and inflation stats are a pain, had to work them out myself :pac:

If my calculations are correct, inflation has risen 0.3%..... Think I might just take the figure in the news instead

Our teacher told us we're actually experiencing deflation-as in inflation of -3.1% at the moment? Don't know if that's true, though-we got the figure about two months ago.