Nama Anggota Kelompok 6 :

1. Mei setiawati (042085484)

2. Purwati (042086787)

Economic Terms Started With G

Mata Kuliah Bahasa Inggris Niaga (ADBI4201)
Program Studi Manajemen
Fakultas Ekonomi

Moh. Mahmud,S.Pd., M.A.

www.ut.ac.id
1. GAME THEORY (Teori Permainan)
 It is a mathematical method of decision – making in which a competitive
situation is analyzed to determine the optimal course of action for an
interested party, often used in political, economic, and military planning.
 Game theory is a technique for analyzing how people, firms and
governments should behave in strategic situation and in deciding what to
do must take into account what others are likely to do and how others
might respond to what they do.

2. GATT (GENERAL AGREMENTION TARRIFS AND TRADE)

(Kesepakatan Umum Tentang Tarif dan Perdagangan)
• GATT is an agreement signed in 1947 whose purpose was to promote
global trade between members through reduction in tariffs.
• GATT is the vehicle for promoting international free trade, trough a series
of rounds of negotiation between the governments of trading countries.
3. GDP (Produk Domestik Bruto)
 Gross Domestic Product, a measure of economic activity in a country. It is
calculated by adding the total value of a country’s annual output of goods and
services. GDP = private consumption + investment + public spending + the
change in inventories + (exports – imports).it is usually value at market prices; by
subtracting indirect tax and adding any governments subsidy, however, GDP can
be calculated at factor cost.
 The effect of inflation can be eliminated by measuring GDP growth in constant
real prices. However, some economists argue that hitting a nominal GDP target
should be the main goal of macroeconomic policy.

4. GEARING
A company’s debt expressed as a percentage of its equity; also as laverage.
5. GENERAL EQUILIBRIUM (Ekuilibrium Umum)
This is when demand and supply are in balance for each and every good and
service in the economy. Nobody thinks that real – world economies can ever
be that perfect; at best there is “partial equilibrium”. but most economists think
that general equilibrium is something worth aspiring to.

6. GENERATIONAL ACCOUNTING (Akuntansi Generasi)

 It is a relatively new of analyzing fiscal policy by identifying the financial
costs and benefits of governments policies to people of different ages, now
living or yet to be born.
 Fiscal policy can distribute resources between different generations,
sometime deliberately and often inadvertently.

7. GIFFEN GOODS (Mengencangkan Barang)

 In economics and consumer theory, a Giffen good is that which people
consume more of as price rises, violating the law of the mand.
 Named after Robert Giffen (1837-1910), a good for which demand
increases as its price rises. But such goods may not exist in the real world.
8. GILTS
 GILTS are risk – free issued by the British government. They are the
equivalent of U.S. Treasury securities.
 Shorthand for gilt – edged securities, meaning a safe bet, at least as far as
receiving interest and avoiding default goes. The price of gilts can very
considerably over time, however ,creating a degree of risk for invertors.

9. GINI COEFFICIENT (Koefisien Gini)

It is an inequality indicator. The Gini coefficient measures the inequality of
income distribution within a country. It varies from zero, which indicates
perfect equality, with every household earning exactly the same, to one ,
which implies absolute inequality, with a single household earning a country’s
entire income.

10. GLOBAL PUBLIC GOODS (Barang Publik Global)

• A global public good is a good that has the three following properties:
1. It is non-rivalrous. Consumption of this good by anyone does not reduce
the quantity available to other agents.
2. It is non-excludable. It is impossible to prevents anyone from consuming
that good.
3. It is available worldwide.
• Public goods that cannot be provided by one country acting alone by the
joint efforts of many (strictly, all)countries.

11.GLOBALISATION (Globalisasi)
 Globalization is the process by which the economies of countries around
the world become increasingly integrated over time. This can be a source
of tremendous opportunity, as new markets, workers, business partners,
goods and services and jobs become available, but also of competitive
threat, which may undermine economic activities that were viable before
globalization.
 The driving force of globalization has been multinational companies,
which since the 1970s have constantly, and often successfully, lobbied
governments to make it easier for them to put their skills and capital to
work in previously protected national markets.

12. GNI (Pendapatan Nasional Bruto)

Short for gross national income, a term now used instead of GNP in national
accounts.

13. GNP (Produk Nasional Bruto)

Short for gross national product, another measure of a country’s economic
performance. It is calculated by adding to GDP the income earned by
residents from investments a broad, less the corresponding income sent
home by foreigners who are living in the country.
14. GOLD (Emas)
For much of human history gold has been in important of economic activity.
The gold standard, which fixed exchange rates to the value of gold during
the 19th and early 20th centuries, has been long abandoned.

15. GOLD STANDARD (Standar Emas)

Gold standard is a monetary system in which the standard unit of currency is
a fixed quantity of gold or is freely convertible into gold at a fixed price.

16. GOLDEN RULE (Peraturan Emas)

Over the economic cycle, a government should borrow only to invest and not
to finance current spending.

17. GOVERNMENT (Pemerintah)

The re are few more hotly debated topics in economics than what role the
state should play in the economy. Plenty of economists provided intellectual
support for state intervention during the era of big government, particularly.
18. GOVERNMENT EXPENDITURE (Pengeluaran Pemerintah)
It is spending by national and local government and some government backed
institutions.

19. GREENSPAN, ALAN

He is most famous of all central bank bosses, so far. He famously wondered
aloud whether rising share prices were the result of “irrational exuberance”.
Economists debate whether history will judge him a failure because he did not
prevent growth of a huge bubble in America’s economy.

20. GRESHAM’S LAW (Hukum Gresham)

 It is an economic principle proposed by an English financier, that bad honey
will drive good money out of circulation.
 It is observed that when a currency has been debased and a new one is
introduced to replace it. The new one will be hoarded and effectively taken
out of circulation, while the old one will continue to be used for transactions,
to be got rid of as fast as possible.
21. GROWTH (Pertumbuhan)
Adam smith attributed growth to be the invisible hand, a view shared by
most followers of classical economics. Some economists argued that doing
this ignored the main engine of growth. Endogenous growth was due, in
particular , to technological innovation and investments in human capital.
Open economies have grown much faster on average than closed
economies. Some economist said this was the result of the birth of a new
economy based on a revolution in productivity.