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    Formula Sheet

    Uploaded by

    jpmr0907
    This document contains formulas and definitions for microeconomics and macroeconomics. There are over 40 entries covering topics like GDP, inflation, unemployment, exchange rates, and more. It provides the key equations and calculations for understanding economic concepts.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Formula Sheet

    Uploaded by

    jpmr0907
    7 views3 pages
    This document contains formulas and definitions for microeconomics and macroeconomics. There are over 40 entries covering topics like GDP, inflation, unemployment, exchange rates, and more. It provides the key equations and calculations for understanding economic concepts.

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    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    This document contains formulas and definitions for microeconomics and macroeconomics. There are over 40 entries covering topics like GDP, inflation, unemployment, exchange rates, and more. It provides the key equations and calculations for understanding economic concepts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    7 views3 pages

    Formula Sheet

    Uploaded by

    jpmr0907
    This document contains formulas and definitions for microeconomics and macroeconomics. There are over 40 entries covering topics like GDP, inflation, unemployment, exchange rates, and more. It provides the key equations and calculations for understanding economic concepts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    MICROECONOMICS

    ECONOMICS FORMULA SHEET JANUARY, 2019

    18. MC = ΔTVC / ΔQ
    1. TR = P x Q
    19. MC = ΔTC / ΔQ
    2. M = Δ T / Δ Q
    20. ΣMC = TVC
    3.P = %∆ Qd
    %∆ P
    21. P = + Qs
    4. P = (Q2 – Q1)/((Q2+ Q1)/2)
    (P2 – P1)/((P2+ P1)/2) 22. P = + Qd

    5. A = T / Q 23. Pso = MC

    6.S = %∆ QS 24. Pum where MC = MR


    %∆ P
    25. PFR = AC
    7. S = (Q2 – Q1)/((Q2+ Q1)/2)
    (P2 – P1)/((P2+ P1)/2) 26. TC = TVC + TFC

    8. Slope = ΔRise / ΔRun 27. MPL = ΔTP / ΔL

    9.Y = %∆ Qd 28. ATC = AVC + AFC


    %∆ Income
    29. ATC = TC / Q
    10. Y = (Q2– Q1)/((Q2 + Q1)/2)
    (Y2 – Y1)/((Y2 + Y1)/2) 30. AR = TR / Q

    11. APL = TP / L 31. MR = ΔTR / ΔQ

    12.AB= %∆ Qd A 32. T = TR – TC


    %∆ PB
    33. Average π = T / Q
    13. AB = (Q A2 – Q A1)/((Q A2 + Q A1)/2)
    (PB2 – PB1)/((PB2 + PB1)/2) 34. Accounting π = TR - Total Explicit cost

    14. MC = ΔTVC / ΔTP


    35. Economic π = TR - (Total Explicit + Total
    Implicit Costs)
    15. Average Total 𝜋 = ATR – ATC
    36. Per unit opportunity cost = what you give up /
    16. AVC = TVC /Q what you gain

    17. AFC = TFC / Q

    1 School of Business
    © 2019, SAIT
    MACROECONOMICS

    1. MPE = ΔAE/ΔY 24. GDP income approach = compensation of


    employees + Gross operating surplus +
    2. MLR = ΔLeakages / ΔY
    Gross mixed income + Taxes (net of
    3. MLR = (1 – MPE) subsidies) on production + Indirect taxes
    (net of subsidies)
    4. Expenditure multiplier =
    1/MLR = 1/(1-MPE) 25. YP = C + S + T
    5. GDP exp app = C + Ig + G + Xn
    26. YD = C + S
    6. Xn = X – IM
    27. MV = PQ
    7. Ig = In + depreciation
    28. YD = Factor Payments – Tnet
    Cost of basket in given year
    8. CPI = x 100 29. YP = (NY or NNP) –Undistributed Corp π –
    Cost of basket in base year
    other Y not paid out – Corp 𝜋 Taxes
    Nominal GDP +Government Transfer Payments
    9. Real GDP = x 100
    GDP deflator
    30. GDP Gap = GDPpotential – GDPactual
    real GDP
    10. Real GDP/capita = 31. GDP Gap = 2.5 x cyclical unemployment x
    population
    actual GDP*(real or nominal)
    11. GDP Growth rate = [(GDPlater yr – GDP
    32. MM = Δdeposits / Δreserves
    previous yr) /GDP previous yr] x 100

    12. W R = W N/Price Level 33. MM = 1/target reserve ratio

    13. Real interest rate = nominal rate – inf. rt 34. Excess reserves = actual – required
    reserves
    14. Labour productivity = Q/L
    Currency Country A
    Av Price X 35. Exchange rate =
    15. Terms of Trade = Currency Country B
    Av Price IM
    16. MTR = ΔT/ ΔY 36. Unit of currency A = 1/unit of currency B

    17. YD = (Y - T) 37. GDP deflator = GDPN/GDPR x 100

    18. MPM = ΔIM / ΔY # of Unemployed


    38. Rate of Unemployment = x 100
    19. MPC = ΔC / ΔY Labour Force

    20. MPS = ΔS / ΔY 39. Participation Rate = (LF/Working Age


    Population) x 100
    21. MPC + MPS = 1
    40. T + S + IM = Ig + G + X at equilibrium
    22. Inflation rate = [(GDP deflatorlater yr – GDP
    deflator previous yr) /GDPdeflator previous yr] x 41. AE = Y at equilibrium
    100
    42. Real income = (nominal income / PI) x
    23. Inflation rate = [(CPIlater yr – CPI previous yr) 100
    /CPI previous yr] x 100
    2 School of Business
    © 2019, SAIT
    MACROECONOMICS

    43.

    3 School of Business
    © 2019, SAIT

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