LEADER 03808nam 2200769 a 450 001 9910534435803321 005 20130429095742.0 010 $a1-60649-424-4 035 $a(CKB)2670000000398870 035 $a(EBL)1048403 035 $a(OCoLC)841243484 035 $a(SSID)ssj0000970162 035 $a(PQKBManifestationID)12439640 035 $a(PQKBTitleCode)TC0000970162 035 $a(PQKBWorkID)11001730 035 $a(PQKB)11782305 035 $a(CaBNVSL)swl00402366 035 $a(MiAaPQ)EBC1048403 035 $a(Au-PeEL)EBL1048403 035 $a(CaPaEBR)ebr10690482 035 $a(CaONFJC)MIL824744 035 $a(EXLCZ)992670000000398870 100 $a20130429d2013 fy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 12$aA primer on macroeconomics$b[electronic resource] /$fThomas Beveridge 205 $a1st ed. 210 $a[New York, N.Y.] (222 East 46th Street, New York, NY 10017) $cBusiness Expert Press$d2013 215 $a1 online resource (254 p.) 225 1 $aEconomics and finance collection,$x2163-7628 300 $aPart of: 2013 digital library. 300 $aIncludes index. 311 $a1-60649-423-6 327 $aPreface -- Acknowledgments -- 1. Scarcity and choice -- 2. Demand and supply -- 3. Measuring the macroeconomy -- 4. The twin evils of macroeconomics -- 5. Aggregate demand and aggregate supply -- 6. The government sector: fiscal policy and short-run stabilization -- 7. The financial sector: money matters and interest rates -- 8. The international sector: trade and finance -- 9. Economic growth and lasting lessons -- Index. 330 3 $aEconomics, far from being the "dismal science," offers us valuable lessons that can be applied to our everyday experiences. At its heart, economics is the science of choice and a study of economic principles that allows us to achieve a more informed understanding of how we make our choices, whether these choices occur in our everyday life, in our work environment, or at the national or international level. The present text represents a common sense approach to basic macroeconomics. It is directed toward all students, but particularly those within business school settings, including students beginning an advanced business degree course of study. It will deliver clear statements of essential economic principles, supported by easy-to-understand examples, and uncluttered by extraneous material; the goal being to provide a concise readable primer that covers the substance of macroeconomic theory. The text begins by explaining key economic principles and defining important terms used in macroeconomic discussion. It uses a single unifying tool--aggregate demand and aggregate supply analysis--to probe differing perspectives on macroeconomic policies. 410 0$a2013 digital library. 410 0$aEconomics and finance collection.$x2163-7628 606 $aMacroeconomics 608 $aElectronic books. 610 $acomparative advantage 610 $aopportunity cost 610 $ademand and supply 610 $aequilibrium 610 $aGDP 610 $abusiness cycle 610 $aaggregate price level 610 $ainflation rate 610 $aunemployment rate 610 $aexpenditure multiplier 610 $afiscal and monetary policies 610 $acrowding-out effect 610 $amoney multiplier 610 $ainternational trade issues 610 $astabilization 615 0$aMacroeconomics. 676 $a339 700 $aBeveridge$b Thomas M$0766575 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910534435803321 996 $aPrimer on macroeconomics$91559812 997 $aUNINA LEADER 13214nam 22006133 450 001 9910838329003321 005 20230601080539.0 010 $a1-4648-1744-8 035 $a(MiAaPQ)EBC30554904 035 $a(Au-PeEL)EBL30554904 035 $a(OCoLC)1381095233 035 $a(NjHacI)9926801415300041 035 $a(EXLCZ)9926801415300041 100 $a20230601d2023 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aAfrica's Resource Future $eHarnessing Natural Resources for Economic Transformation During the Low-Carbon Transition 205 $a1st ed. 210 1$aWashington, D. C. :$cWorld Bank Publications,$d2023. 210 4$d©2022. 215 $a1 online resource (274 pages) 225 1 $aAfrica Development Forum Series 311 08$aPrint version: Cust, James Africa's Resource Future Washington, D. C. : World Bank Publications,c2023 9781464817434 327 $aFront Cover -- Contents -- Foreword -- Acknowledgments -- About the Editors and Contributors -- Main Messages -- Executive Summary -- Abbreviations -- Overview -- The Untapped Economic Potential of Sub-Saharan Africa's Oil, Gas, and Mineral Resources -- The Legacy and Lessons from Africa's Commodity Price Boom and Bust -- Unlocking the Mining Sector's Economic Potential through Regional Integration and the African Continental Free Trade Area -- Looking Ahead to Africa's Resource Future -- Notes -- References -- Chapter 1 The Untapped Economic Potential of Sub-Saharan Africa's Oil, Gas, and Mineral Resources -- Introduction -- The Significant Rise in Resource-Rich Countries across Africa in the Past Two Decades -- The Untapped Resource Potential of Africa -- Unlocking SME Potential in the Mining Sector -- Conclusions -- Policy Recommendations -- Annex 1A Analysis of Trade Elasticities -- Notes -- References -- Chapter 2 The Legacy and Lessons of Africa's Commodity Price Boom and Bust -- Introduction -- Outcome 1: Economic Growth in Resource-Rich Africa Collapsed Once Commodity Prices Fell -- Outcome 2: Poverty Has Deepened in Resource-Rich Sub-Saharan African Countries -- Outcome 3: Inequality Has Persisted in Resource-Rich Sub-Saharan African Countries -- Outcome 4: Despite Significant Earnings during the Boom, Resource-Rich Africa Failed to Diversify Its Economies -- Export Concentration: The Boom Drove Increased Export Concentration -- Asset Concentration: What Happened to the Wealth of Nations? -- Outcome 5: Governance Was an Important Determining Factor in Outcomes for Resource-Rich Countries -- Governing New Discoveries and Managing Expectations: The Risk of the Presource Curse -- Managing Macroeconomic Risks -- Resource-Backed Loans Carry Hidden Risks -- Conclusions: Insights from the Boom-and-Bust Cycle -- Notes -- References. 327 $aChapter 3 Unlocking the Mining Sector's Economic Potential through Regional Integration and the African Continental Free Trade Area -- Introduction -- The African Continental Free Trade Area -- Tariff Barriers -- Nontariff Barriers: Logistics and Infrastructure -- Policy Impediments: Local Content Policy Requirements and Export Restrictions -- Policy Recommendations -- Tariffs -- Nontariff Barriers -- Policy Impediments -- Notes -- References -- Chapter 4 Looking Ahead to Africa's Resource Future -- Introduction -- Megatrend 1: The Low-Carbon Transition -- Megatrend 2: Mechanization and Digital Transformation -- Megatrend 3: Environmental Consequences -- Megatrend 4: Long-Term Structural Effects -- Conclusions -- Annex 4A Chile's Nitrate Age, Nitrate Crisis, and Unprecedented Success Story -- Notes -- References -- Boxes -- Box ES.1 Policy Recommendations -- Box 1.1 Strengthening Support to Junior African Mining Companies -- Box 3.1 The Cost of Being Landlocked: The Case of Zambia -- Box 3.2 Alleviating the State-Owned Enterprise Energy Bottleneck in the Mining Sector -- Box 4.1 Will Digital Transformation Adoption Disrupt Work in Africa's Mining Sector? -- Figures -- Figure ES.1 Decline in per Capita GDP Growth Following the Resource Boom -- Figure O.1?Estimated Oil, Gas, Metals, and Mineral in Sub-Saharan Africa, by Year -- Figure O.2?Average Nonrenewable Resource Exports as a Share of Total Merchandise Exports and Average Resource Revenues as a Share of Total Government Revenues, by Region -- Figure O.3?Giant Oil and Gas Field Discoveries, by Region and Decade, 1950-2018 -- Figure O.4?Per Capita GDP Growth before, during, and after the Resource Boom -- Figure O.5?Global Historical and Projected Poverty Headcount, 1995-2030 -- Figure O.6?Total Poverty Headcount, Resource-Rich and Non-Resource-Rich Sub-Saharan African Countries, 1995-2030. 327 $aFigure O.7?Change in Gini Coefficient in Sub-Saharan African Countries, Preboom versus End of Boom -- Figure O.8?Average Adjusted Net Savings as a Share of GNI and Average Natural Resource Rents as a Share of GDP over the 2004-14 Boom Period in Sub-Saharan African Countries -- Figure O.9?Indexed Worldwide Governance Indicators: Period Averages for Resource-Rich and Non-Resource-Rich African Countries -- Figure O.10?Short-Term Growth Impact of Giant Hydrocarbon Discoveries -- Figure O.11?Overoptimism of Citizens about Macroeconomic Conditions and Living Standards after Hydrocarbon Discoveries -- Figure O.12?General Government Gross Debt in Sub-Saharan Africa, by Type of Resource Endowment, 2007, 2013, and 2018 -- Figure O.13?Africa's GDP-Weighted Employment Growth, by Subsector, Full Free Trade Agreement Long-Term Scenario -- Figure O.14?Fossil Fuel Use, by Resource and Scenario, 2020, 2030, and 2050 -- Figure O.15?Cobalt Exports from Sub-Saharan Africa -- Figure O.16?Production Output, per Person, per Year, for Three Different Types of Platinum Group Metals Mines Owned by Anglo American -- Figure O.17?Average Distribution of Human Capital between Males and Females in Resource-Rich and Non-Resource-Rich Countries, Selected Regions, 2018 -- Figure 1.1?Receipts from Natural Resources, by Country, 2004-14 Average -- Figure 1.2?Nonrenewable Resource Exports as a Share of Total Merchandise Exports, by Region, 2004-14 Average -- Figure 1.3?Resource Revenues as a Share of Total Government Revenues, by Region, 2004-14 Average -- Figure 1.4?Sub-Saharan Africa's Aggregate and per Capita Natural Wealth, 1995-2018 -- Figure 1.5?Active Mineral Exploration Sites per Million Square Kilometers of Surface Area in Key Mining Jurisdictions, 2017 -- Figure 1.6?Mineral Exploration Spending and Discovery Value, Select Countries and Regions, 2007-16. 327 $aFigure 1.7?World Mineral Exploration Expenditures, Select Countries and Regions, 1975-2019 -- Figure 1.8?Mine-Site Value and Primary Mineral Value, by African Region -- Figure 1.9?Number of African Mineral Discoveries, by Size of Deposit, 1900-2019 -- Figure 1.10?Number of African Mineral Discoveries, by Commodity, 1900-2019 -- Figure 1.11?Number of African Mineral Discoveries, by Type of Exploration Company, 1900-2019 -- Figure 1.12?Giant Oil and Gas Field Discoveries, by Region and Decade, 1950-2018 -- Figure 1.13?Largest Giant Petroleum Discoveries for Host Country Economy, Net Present Value of Discovery Scaled by Share of GDP, 1960-2020 -- Figure 1.14?Actual and Projected Global Metals Demand from EV Lithium-Ion Batteries -- Figure 1.15?Nonrenewable Resource Exports as a Share of Government Revenue, by Region -- Figure 1.16?Changes to the Sub-Saharan African Mineral Commodity Export Structure across Main Importers, 1995-2018 -- Figure 1A.1?Export Supply and Import Demand Elasticities of the SSA Exporters to Main Importers Relative to the Rest of the World, by Chapter -- Figure 1A.2?Effect of Energy Minerals in Sub-Saharan African Export Revenues -- Figure 2.1 Government Revenues and Rents from Natural Resources, Select Sub-Saharan African Resource-Rich Countries, 1990-2020 -- Figure 2.2 Comparison of GDP and Nonresource GDP Growth Rates before, during, and after the Boom, Resource-Rich versus Non-Resource-Rich Countries -- Figure 2.3 Annual Growth of Total Wealth per Capita in Sub-Saharan Africa, Period Averages -- Figure 2.4 Share of the World's Poor in Resource-Rich and Non-Resource-Rich Sub-Saharan African Countries, 1995-2030 -- Figure 2.5 Total Poverty Headcount, Resource-Rich and Non-Resource-Rich Sub-Saharan African Countries, 1995-2030 -- Figure 2.6 Poverty Headcount in Sub-Saharan African Countries, 2003 versus 2014. 327 $aFigure 2.7 Global Historical and Projected Poverty Headcount, 1995-2030 -- Figure 2.8 Gini Coefficients in Sub-Saharan Africa, Preboom (2003) versus End of Boom (2014) -- Figure 2.9 Change in Gini Coefficient in Sub-Saharan African Countries, Preboom versus End of Boom -- Figure 2.10 Sectoral Composition of Sub-Saharan African Exports, Preboom, Boom, and Postboom Average -- Figure 2.11 Ratio of Resource GDP to Nonresource GDP in Sub-Saharan African Countries, 1998-2003 versus 2014-18 Averages -- Figure 2.12 Export Diversification Index of Sub-Saharan African Countries, 1998-2003 versus 2006-10 Averages -- Figure 2.13 Change in Total Wealth per Capita in Sub-Saharan African Countries, 2004-14 -- Figure 2.14 Average Adjusted Net Savings as a Share of GNI and Average Natural Resource Rents as a Share of GDP over the 2004-14 Boom Period in Sub-Saharan African Countries -- Figure 2.15 Wealth Composition per Capita in Sub-Saharan Africa, 2004 versus 2014 -- Figure 2.16 Indexed Worldwide Governance Indicators: Period Averages for Resource-Rich and Non-Resource-Rich African Countries -- Figure 2.17 Change in Worldwide Governance Indicator Average Ratings, by Resource-Rich Sub-Saharan African Country, 1998-2003 to 2015-18 -- Figure 2.18 Short-Term Growth Impact of Giant Hydrocarbon Discoveries -- Figure 2.19 Overoptimism of Citizens about Macroeconomic Conditions and Living Standards after Hydrocarbon Discoveries -- Figure 2.20 General Government Gross Debt in Sub-Saharan Africa, by Type of Resource Endowment, 2007, 2013, and 2018 -- Figure 3.1?Africa's GDP-Weighted Employment Growth, by Subsector, Full Free Trade Agreement Long-Term Scenario -- Figure 3.2?International Transport Costs for All Modes of Transport, by Regional Average, 1985-2014 -- Figure 3.3?Gold Production at Acacia's Bulyanhulu Mine in Tanzania, 2016-21. 327 $aFigure 4.1 Fossil Fuel Use, by Resource and Scenario, 2020, 2030, and 2050. 330 $aThis book examines the role for natural resource wealth in driving Africa's economic transformation and the implications of the low-carbon transition for resource-rich economies. Resource wealth remains central to most Sub-Saharan African economies, and significant untapped potential is in the ground. Subsoil assets-such as metals, minerals, oil, and gas-are key sources of government revenues, export earnings, and development potential in most countries in the Africa region. Despite large reserves, success in converting subsoil wealth into aboveground sustainable prosperity has been limited. Since the decline in commodity prices in 2014, resource-rich Africa has grown more slowly than the region's average growth rate. Finding ways to more effectively harness natural resource wealth to drive economic transformation will be central to Africa's economic future. As the world moves away from fossil fuels in alignment with commitments under the Paris Agreement, Africa's resource-rich countries face new risks and opportunities. Recent estimates suggest that 80 percent of the world's proven fossil fuel reserves must remain underground to meet the Paris targets, and much of these stranded reserves may be in Africa. This issue of stranded assets and, relatedly, "stranded nations," has major implications for the many African economies that are dependent on petroleum extraction and export. On the other hand, the energy transition will increase demand for raw material inputs involved in clean energy technologies. The transition from fossil fuels to clean energy may create demand by 2050 for 3 billion tons of minerals and metals that are needed to deploy solar, wind, and geothermal energy. How can African economies tap into these opportunities while managing the downside risk to their fossil fuel wealth? Africa's Resource Future explores these themes and offers policy makers insights to help them navigate the coming years of uncertainty. 410 0$aAfrica Development Forum Series 606 $aCarbon 606 $aCommodities 606 $aEconomic development $zAfrica, Sub-Saharan 606 $aMines and mineral resources $zAfrica, Sub-Saharan 606 $aOil and Gas 615 0$aCarbon. 615 0$aCommodities. 615 0$aEconomic development 615 0$aMines and mineral resources 615 0$aOil and Gas. 676 $a620.193 700 $aCust$b James$01731332 701 $aZeufack$b Albert$01651922 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910838329003321 996 $aAfrica's Resource Future$94143769 997 $aUNINA