Students will be able to
- know various constituents of GNI and GDP and understand GNI and GDP as measures of national income,
- understand the difference between money (nominal) GNI and GDP and real GNI and GDP,
- understand the following ways of measuring GNI/GDP: the output measure (production measure), the income method, and the expenditure method,
- understand the relationship between national income, saving, consumption, and investment,
- understand how per capita GNI/GDP is computed.