Key Economic and Social Indicators: Definitions and Examples
Economic Environment
1. What is an Economic Indicator?
An economic indicator is a statistical measure designed to show changes in an economic variable or group of related variables with respect to time or other properties.
2. Three Examples of Monetary Indicators
- Means of Payment
- Base Currency
- Monetary Offer Extended
3. Three Examples of External Sector Indicators
- International Reserves (Gross, Net, Composition)
- Exchange Rate
- External Finance
4. Three Examples of Indicators for Public Finance
- National Government Income
- National Government Expenses
- National Budgets
5. Three Examples of Real Sector Indicators
- Gross Domestic Product (GDP)
- GDP per capita (GDP PC)
- Gross National Product
6. What is a Social Indicator?
A social indicator is a summary measure of statistical preference concerning the amount or magnitude of a set of parameters or attributes of a society.
7. Indicators in Social Projects are Often Organized into 3 Types:
- Impact Indicators
- Effect Indicators
- Compliance Indicators
8. Four Examples of Social Indicators
- Life Expectancy at Birth
- Illiteracy Rate
- Gross Domestic Product (GDP)
- Gross Enrollment Rate (GER)
9. Requirements of a Good Indicator
- Accuracy
- Consistency
- Specifications
- Sensitivity
- Facility
10. What is Inflation?
Inflation is an economic phenomenon characterized by growth in the money supply, causing rising prices of goods and services.
11. What is the IPC?
The Consumer Price Index (IPC) is an indicator developed by the National Institute of Statistics for the purpose of calculating monthly inflation developments.
12. What is the GDP?
Gross Domestic Product (GDP) is the total dollar value of the current production of goods and services in a country during a period (usually a quarter or a year).
13. What are Current Values?
A current value is a value that includes inflation.
14. What are Constant Values?
A constant value is any value that does not include inflation.
15. What is the Minimum Vital Wage?
The minimum vital wage is the legally established minimum for each work period that employers must pay their employees for their work. It was first established in Australia and New Zealand in the nineteenth century.
16. What is the National Financial System?
The National Financial System is a set of institutions (banks, finance companies, mutual savings associations, credit unions for housing, and credit unions).
17. What are the Monetary Authorities of Ecuador?
- Banco Central de Ecuador
- Superintendency of Banks
- Banking Board
18. Public Financial Institutions of Ecuador
- National Financial Corporation
- Ecuadorian Housing Bank
- National Development Bank
- State Bank
- Ecuadorian Institute of Student Loans and Grants
19. Private Financial Institutions of Ecuador
- Private Banks
- Financial Partnerships
- Mutual Savings and Housing Credit Associations
- Credit Unions that perform financial intermediation with the public
20. What is Interest?
Interest is an index used to measure the return on savings and also the cost of credit. It is generally expressed as a percentage.
21. What is the Interest Rate?
The interest rate is the rate at which capital is invested in a unit of time.
22. What is the Passive or Harvesting Rate?
The passive or harvesting rate is paid by financial intermediaries to bidders of resources for the money collected.
23. What is the Active or Placement Rate?
The active or placement rate is received by financial intermediaries from applicants for loans.
24. What is the Brokerage Range?
The brokerage range is the difference between the purchase price and the selling price in any business. It is the difference between the lending interest rate and the borrowing interest rate.
25. Vision of the Central Bank of Ecuador
“We are a Central Bank that contributes effectively to the economic and social development and financial stability of Ecuador, producing quality products and services geared to the welfare of the community, with a team of professional public servants, competitive and committed, working under a culture of accountability, that becomes a technical reference at the national and international level.”
26. When did the Central Bank Open its Doors?
The Central Bank opened its doors for the first time on August 10, 1927, during the government of Isidro Ayora.