-Intro to Macroeconomics
-What happens in Boom times and Recessions?
-Book recommendation

Welcome back to the MBA Working Girl Podcast-Where Business Theory and the Real World Collide! I'm your host, Laura Adams.

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MBA Essential Tip:
The U.S. Gross Domestic Product, or GDP, is defined as the market value of the goods and services produced by labor and property located in the U.S.
The U.S. Gross National Product, or GNP, is defined as the market value of the goods and services produced by labor and property supplied by U.S. residents.
The  distinction between "located in the U.S." and "supplied by U.S. residents" is important.  Profit from a U.S. owned factory in China is not included in GDP, but would be included in GNP. The emphasis in the U.S. shifted from GNP to GDP in 1991.

"A creative economy is the fuel of magnificence." -Ralph Waldo Emerson (1803-1882)

In this show you'll hear an introduction to Macroeconomics.  We'll cover the 3 major variables that Macroeconomists study. I'll also discuss what happens in the economy during Boom times and Recessions.

And if you want to do some further economic study and read a good story at the same time, I recommend Alan Greenspan's The Age of Turbulence.

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Thanks for listening-
Do Good Work, Laura