CourseHES 202

Week9 of 16

SemesterII

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This week’s topics

Measuring the economy: GDP

What GDP measures
Economic growth

What you will be able to do

3.1 Explain inflation, unemployment and GDP.

Activity

Compare the GDP of five countries using a chart.

Study materials

Further resources

Principles of Economics 3e, ch. 19.1: Measuring the size of the economy – GDP · PDF · OpenStax (2022); pp. 449–457 · for registered students
Principles of Economics 3e, ch. 19.3: Tracking real GDP over time · PDF · OpenStax (2022), economic growth; pp. 463–465 · for registered students
Key figures on Europe – 2025 edition, Economy and finance: GDP and growth · PDF · Eurostat (2025), EU and Belgian figures; pp. 36–38 · for registered students
Underestimating the Real Growth of GDP, Personal Income, and Productivity · Open-access article · Feldstein (2017), Journal of Economic Perspectives. Readable account of how GDP and real growth are measured, and what the figures miss. · for registered students

Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.

Midterm Week 10

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Course plan

Week 1: What is economics? Scarcity and choice
Week 2: Demand: how buyers behave
Week 3: Supply: how sellers behave
Week 4: Market equilibrium
Week 5: When demand or supply changes
Week 6: Price elasticity of demand
Week 7: Calculating elasticity
Midterm: Midterm evaluation
Week 9: Measuring the economy: GDP
Week 10: Inflation and unemployment
Week 11: Reading economic data
Week 12: Perfect competition
Week 13: Monopoly
Week 14: Markets in real life
Week 15: Review and coursework completion
Final: Final assessment and submission

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