This blog accompanies the econ101ab Principles of Economics course given at the University of Birmingham. The lecturers for both parts of the course (101a, microeconomics and 101b, macroeconomics) will occasionally post here on matters related to lecture material. We hope to show the relevance of the concepts we are teaching at each stage of the course for helping understand how the world works...
Tuesday, March 2, 2010
The Macroeconomic Significance of Football
That football is of vital significance for macroeconomic events has been confirmed by the South Africans, who expect this summer's World Cup (starting in 100 days) to add 0.5 percentage points to economic growth in the country. I.e. of the growth predicted of 2.3%, 1.8% of that number is due to normal economic matters, while the remaining 0.5% component is related to the World Cup.
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