Here is something that I use with my Year 12 & 13 Economics students when looking at the comparison between nominal GDP and PPP – NCEA Level 3 Growth external and CIE A2 Unit 4. I have found the worksheet…
The Big Mac index was invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their “correct” level. It is based on the theory of purchasing-power parity (PPP), the notion that in the long run…
Here is a useful video clip on the Big Mac index – also referred to as Burgernomics. Developed by “The Economist” magazine it is based on the theory of purchasing-power parity, the notion that a dollar should buy the same…
THE Big Mac index was invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their “correct” level. It is based on the theory of purchasing-power parity (PPP), the notion that in the long run…
The Economist first compared the price of a McDonald’s Big Mac in a number of countries in 1986. It regarded the long-established Big Mac as the perfect universal commodity now produced locally in sixty-six countries. If the prices of a…
Many thanks to Kanchan Bandyopadhyay for this article from the NZ Herald on the iPad index. You will no doubt have heard of the Big Mac index which is an informal way of measuring the purchasing power parity (PPP) between…
You will have heard to the Big Mac index which was developed by The Economist magazine. It shows the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in…
I have blogged in the past about the ongoing problems in Venezuela of hyperinflation, food shortages and social unrest. One of the consequences of hyperinflation is the loss of confidence in its economy which leads to an outflow of money…
Here are Gross domestic product per capita figures for the 34 member countries of the OECD (Organisation for Economic Co-Operation and Development) for the 2012 calendar year on a purchasing power parity (PPP) basis. Purchasing power parity (PPP) is when…
Famous for its Big Mac Index (an informal way of measuring the purchasing power parity between two currencies) The Economist recently asked readers to send in their wacky economic indicators. A vet claimed that his business leads the economic cycle…
Last week in Washington DC the annual meetings of the World Bank and IMF took place. High on the agenda was the appropriate level of exchange rates at which countries should trade in the globalised environment. China has been deliberately…
The media last week were championing the fact that America most-cited benchmark, the Dow Jones Industrial Average (consists of the biggest 30 companies on Wall Street), had surpassed the peak that it reached prior to the Global Financial Crisis in…
ECONFIX 