principles of macroeconomics spring 2011 dr. andrew l. h. parkes “a macroeconomic understanding...
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Principles of Principles of MacroeconomicsMacroeconomics
Spring 2011Spring 2011
Dr. Andrew L. H. ParkesDr. Andrew L. H. Parkes““A Macroeconomic Understanding for use in A Macroeconomic Understanding for use in
Business”Business”
卜安吉卜安吉
May 24, 2011May 24, 2011 Principles of Macroeconomics, HypPrinciples of Macroeconomics, Hyperinflation, Day 17erinflation, Day 17
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Yugoslavia HyperinflationYugoslavia Hyperinflation
1994-5: 1994-5: On January 24, 1994 the On January 24, 1994 the government introduced the government introduced the super Dinar equal to 10 million super Dinar equal to 10 million of the new new Dinars.of the new new Dinars.
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Zimbabwe HyperinflationZimbabwe Hyperinflation
World-record hyperinflation last World-record hyperinflation last officially set at officially set at 231 million per cent231 million per cent. .
Sydney Morning Herald, Sydney Morning Herald,
http://www.smh.com.au/news/world/231000000-inflation-zim-dollar-dumped/2009/01/30/1232818687057.htmlhttp://www.smh.com.au/news/world/231000000-inflation-zim-dollar-dumped/2009/01/30/1232818687057.html
February 2, 2009:February 2, 2009: HARARE (Reuters) - HARARE (Reuters) - Zimbabwe's central bank revalued its Zimbabwe's central bank revalued its dollar again on Monday, lopping dollar again on Monday, lopping another 12 zeros off its battered another 12 zeros off its battered currency to try to tame hyperinflation currency to try to tame hyperinflation and avert total economic collapse.and avert total economic collapse.
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May 24, 2011May 24, 2011 Principles of Macroeconomics, HypPrinciples of Macroeconomics, Hyperinflation, Day 17erinflation, Day 17
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Zimbabwe HyperinflationZimbabwe Hyperinflation
Reserve Bank of Zimbabwe Governor Reserve Bank of Zimbabwe Governor Gideon Gono announced the new Gideon Gono announced the new currency moves on Mondaycurrency moves on Monday
"Gono gave no updated inflation "Gono gave no updated inflation figures but said broad money supply figures but said broad money supply growth rose from 81,000 percent in growth rose from 81,000 percent in January to 658 billion percent in January to 658 billion percent in December.December. http://www.reuters.com/article/newsMaps/idUSTRE5112IF20090202
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ONE HUNDRED TRILLION!!ONE HUNDRED TRILLION!!This recently printed One Hundred Trillion Dollar Zimbabwe note (above) use to buy only 300 America dollars. Now it's totally worthless.
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3 Eggs Worth3 Eggs WorthThe 100 Billion Dollar Zimbabwe note (below) was said to have bought just three eggs.