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BainMath
Inflation-
*1996isthebaseyear
Note:.
Adeflatortablelistspricedeflatorsforanumberofyears.
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CU7112997ECA
BainMath
Inflation-
Tounderstandhowacompanyhasperformedovertime(.,intermsofrevenue,costs,orprofit),itisnecessarytoremoveinflation,().
Sincemostcompaniesusenominalfiguresintheirannualreports,ifyouareshowingtheclient’srevenueovertime,itispreferabletousenominalfigures.
Foranexperiencecurve,whereyouwanttounderstandhowpriceorcosthaschangedovertimeduetoaccumulatedexperience,youmustuserealfigures
Note:
:
Whetheryoushouldusereal(constant)figuresornominal(current)figuresdependsonthesituationandtheclient’spreference.
,youshouldalsonotewhatyouhavechosenasthebaseyear.
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CU7112997ECA
BainMath
Inflation-Example(1)
(1970-1992)
,GE’%since1970.
Whenyouusenominaldollars,itisimpossibletotellhowmuchofthepriceincreasewasduetoinflation.
$2,000
72
Nominaldollars
%
PriceofaGEWasher
1970
71
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
$0
$500
$1,000
$1,500
CAGR
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CU7112997ECA
BainMath
Inflation-Example(2)
PriceofaGEWasher
CAGR
(1970-1992)
(%)
%
1970
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
Nominaldollars
Real(1992)dollars
Ifyouuserealdollars,youcanseewhathashappenedtoinflation-%peryear.
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CU7112997ECA
BainMath
Inflation-Exercise(1)
Considerthefollowingrevenuestreaminnominaldollars:
Revenue($million)
1990
1991
1992
1993
1994
1995
1996
Howdowecalculatetherevenuestreaminrealdollars?
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CU7112997ECA
BainMath
Inflation-Exercise(2)
Answer:
Step1:,wewilluse1990
Step2:Finddeflatorsforallyears
(fromthedeflatortable):
(1990)=
(1991)=
(1992)=
(1993)=
(1994)=
(1995)=
Step3:Usetheformulatocalculaterealdollars:
Pricedeflator(currentyear)Dollarfigure(currentyear)
Pricedeflator(baseyear)
Dollarfigure(baseyear)
Step4:Calculatetherevenuestreaminreal(1990)dollarsterms:
1990:
1991:
1992:
1993:
=,X=
1994:
1995:
1996:
=
=,X=
=,X=
=,X=
=,X=
=,X=
=,X=
Revenue($Million)
1990
1991
1992
1993
1994
1995
1996
(1996)=
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CU7112997ECA
BainMath
ForeignExchange-Definitions
Investmentsemployedinmakingpaymentsbetweencountries(.,papercurrency,notes,checks,billsofexchange,andelectronicnotificationsofinternationaldebitsandcredits)
Priceatwhichonecountry’scurrencycanbeconvertedintoanother’s
,exchangerateswilladjusttocompensatefordifferencesininterestandinflationratesbetweencurrencies
ForeignExchange:
ExchangeRate:
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CU7112997ECA
BainMath
ForeignExchangeRates
1)US$equivalent=USdollarsper1selectedforeigncurrencyunit
2)CurrencyperUS$=selectedforeigncurrencyunitsper1USdollar
TheWallStreetJournalTuesday,November25,1997
CurrencyTrading
Monday,November24,1997
ExchangeRates
Country
Argentina(Peso)
Britain
(Pound)
US$
CurrencyperUS$2
Country
France
(Franc)
Germany(Mark)
US$Equiv.
CurrencyperUS$
Country
Singapore(dollar)
US$Equiv.
CurrencyperUS$
Financialpublications,suchastheWallStreetJournal,provideexchangerates.
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CU7112997ECA
BainMath
ForeignExchange-Exercises
Question1:
Answer:
Question2:
Answer:
Question3:
Answer:
=?Britishpounds
fromtable:£=US$
$=£
=?US$
fromtable:$=1Franc
=$
1,000GermanMarks=?Singaporedollars
fromtable:$=1Mark
=US$1
1,000GermanMarksxx=
£US$1
$
$
$1
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CU7112997ECA