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Managerial Economics; Management;

Methods of Measuring National Income | Choice of Method;

Introduction 00:00:00- 00:00:16

Analyzing the Economy from Three Different Angles 00:00:17- 00:01:28
i)As an aggregate of productive units
ii)As the combination of individuals and households owning different factors of production
iii)As a collection of saving, consuming and investing units

Methods of Measuring National Income 00:01:29- 00:16:17
i) Net Output or Value Added Method
*The three stages involved in this method
Measuring the gross value
*How is the gross value calculated?
*On what basis is the economy classified?
*What are the various methods to calculate the value of gross output?
Estimating the cost of production
*How are the costs estimated?
*How is depreciation calculated?
Deducting the cost from gross value
*How are the net sectoral products obtained?
ii) Factor Income Method
*What are the elements of this method?
Labour incomes
Capital income
Mixed income
*How is the national income calculated with this method?
iii) Expenditure Method
*At what stage does this method measure national income?
*What are the various stages through which the national income is calculated?
*What are the various ways that come under this method to obtain national income?

National Income of an Open Economy 00:16:18- 00:19:10
*How is the net income from abroad treated in this economy?
*How is the national income calculated for this economy?

Choice of Methods 00:19:11-00:20:48
*What are the factors taken into consideration while choosing a national income measuring method?

Conclusion 00:20:49- 00:21:21

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