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If you throw all the products we buy and the services we use in one basket, then add up the price tag, that's the Gross Domestic Product, which is the primary metric economists use to assess the economic health of a country or region.
The easy part of calculating GDP is the calculation itself: C+I+G+(X-M)=GDP. Got it? No? Well, add Consumption, Investment by companies, Government purchases, and then take the product of eXports (calling it 'E' would lack sexiness) minus iMports ('I' was taken). Viola! GDP.
Still don't get it? Well, knowing the components helps. Consumption is the biggest component, and it's a tally of the cost of all the goods and services we buy. Investment is what companies spend on the real assets they own, plus the value of the inventory that we haven't gobbled up through consumption. Government purchases are what the Feds pay money for (whether it be highways or fighter jets, though big social programs, like welfare, aren't counted). And then we calculate the difference between the goods and services we¿re sending to other countries and the stuff we're bringing in.
Good. That explains it, except there's a catch. Inflation has a habit of distorting the numbers, so economists talk about either Nominal GDP or Real GDP. In fact, Real GDP isn't necessarily "real" for most folks, since it takes any inflation out. Nominal GDP includes the effects of inflation. (There's something called the implicit price deflator which is a calculation using the two, but we'll spare you the details.)
So, now that we know GDP, why do we want to? Well, it's good to compare different markets. And watching the trend shows whether a given economy is growing (good), stagnating (not so good), or shrinking (very not so good). When GDP goes down two quarters in a row, we're officially in a recession.
For the record, GDP is released at the end of each month, with most reporting ¿preliminary¿ data for the previous month. But you won't get final GDP numbers for the fourth quarter of a year until the very end of the first quarter of the next year. After all, it's not an easy number to calculate.
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Wednesday, July 16, 2008
New York City Students Continue to Thrive with McGraw-Hill Education's Everyday Mathematics and IMPACT Mathematics
Comtex
NEW YORK, July 16, 2008 /PRNewswire via COMTEX/ ----New York City students continue to make substantial progress in math achievement since the district set out to make vast improvements six years ago. The city's curriculum includes Wright Group/McGraw-Hill's Everyday Mathematics (http://www.wrightgroup.com/index.php/programlanding?isbn=L000000004) in elementary schools and Glencoe/McGraw-Hill's Impact Mathematics (http://www.glencoe.com/sec/math/impact/index.php/na) for middle schools.
The number of students in Grades 3-8 meeting or exceeding state math standards rose by 9.2 percentage points between 2007 and 2008, from 65.1 percent to 74.2 percent.
"We are extremely gratified to see these measurable results that clearly demonstrate the commitment and dedication of the city's educators in driving student achievement," said William Oldsey, executive vice president of McGraw-Hill Education. "We applaud New York City's success and are pleased to play a continuing role in helping the district prepare students for the future."
Students in New York City have also made significant gains in matching student scores across the state. In 2002, New York City Grade 4 math students scored 24.4 points below students in the rest of the state. In 2008, City students closed that gap by 18 points. Grade 8 math students have closed this gap by 11.7 points -- from 27.2 points in 2002 to 15.2 points this year. In addition, scores indicated a shrinking of the achievement gap between students of different racial backgrounds. Complete results can be viewed at the district's web page (http://schools.nyc.gov/Offices/mediarelations/NewsandSpeeches/2007- 2008/20080623_test_scores.htm Due to the length of this URL, you may need to copy and paste this link into your browser.).
McGraw-Hill Education has partnered with the city to ensure a strong implementation of the curricula and provided on-going professional development for educators at all levels. To continue this success, New York City Public Schools recently adopted the (C)2009 edition of IMPACT Mathematics.
About Everyday Mathematics
With more than 20 years of history, Wright Group/McGraw-Hill's Everyday Mathematics for Grades Pre-K-6 helps students measure up to the demand for greater mathematical competence and problem-solving ability. Everyday Mathematics was developed by the University of Chicago School Mathematics Project. The research-based curriculum is used in nearly 185,000 classrooms across the United States by more than 3 million children. The Everyday Mathematics eSuite includes an online lesson planner with digital access to all teacher materials, an interactive online student edition, animated games for additional fact practice, an assessment management system to monitor student progress, and multilingual family letters in nine languages to support the home-school connection.
Visit EverydayMathSuccess.com to read about the program's efficacy and to see videos of the program in use in the classroom and see WrightGroup.com/Parent_Connection/index.html (http://www.wrightgroup.com/parent_connection/index.html) for parent resources.
About IMPACT Mathematics
IMPACT Mathematics is a comprehensive mathematics curriculum for Grades 6-8 that covers Pre-Algebra and Algebra 1 content by the end of 8th grade. The 2009 edition addresses the NCTM Focal Points. NSF-funded MARS Performance Assessments are also included in the new copyright, giving teachers and administrators additional tools to help meet state assessment goals.
For more information about IMPACT Mathematics, please visit http://www.glencoe.com/sec/math/impact/index.php/na
About McGraw-Hill Education
McGraw-Hill Education, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of instructional, assessment and reference solutions that empower professionals and students of all ages. Brands include CTB/McGraw-Hill, Glencoe, Macmillan/McGraw-Hill, McGraw-Hill Higher Education, SRA, The Grow Network and Wright Group. McGraw-Hill Education has offices in 33 countries and publishes in more than 40 languages. Additional information is available at http://www.mheducation.com.
Media Contacts: Tom Stanton Melina Metzger McGraw-Hill Education Paul Werth Associates (212) 907-3214 (614) 224-8114 Ext. 236 tom_stanton@mcgraw-hill.com mmetzger@paulwerth.com
SOURCE McGraw-Hill Education
http://www.mheducation.com/
Copyright (C) 2008 PR Newswire. All rights reserved ********************************************************************** As of Saturday, 07-12-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 06-30-2008 for MHP @ $40.19. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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