A country’s national income is defined as the total market value of its output. The most used measure for national income is gross domestic product (GDP). One way to estimate GDP for a country is to sum its government consumption, private consumption, investment, and exports minus its imports. The components of GDP are deflated using a base year to control for inflation (or deflation) over time. While this adjustment effectively controls for changing prices, it may not properly reflect the purchasing power availed or taken away by volatile oil prices for oil-dependent economies.
Research FellowWalid works on modeling energy systems. He is developing or has developed the following components of the KAPSARC Energy Model…Walid works on modeling energy systems. He is developing or has developed the following components of the KAPSARC Energy Model (KEM): electric power generation, oil refining, petrochemicals and fertilizers, cement production, and iron and steel. He is also working on a bottom-up residential electricity use framework that merges microeconomics with the physical laws governing electricity use.
Energy Systems Modeling
Energy Efficiency and the Interdisciplinary Connection Between Energy Economics and Engineering