GDP of Argent Dawn EU - The Economics of My Server (Patreon)

Introduction:

Imagine An Economy , consisting of the production and consumption of goods and the overall supply of money. Now picture that real life scenario and and move that to a game. This is WoW where real players produce, consume and supply a virtual world and trade these with the in game currency of Gold. In this video we will take a look at what builds up the Economy of WoW on my Server of Argent Dawn EU and have some fun Approximating what the overall health of the economy.

What is GDP?:

• So What Is GDP? Well GDP or Gross Domestic Product is a way in which we can measure the Size of a Country's Economy and therefore see an overview of how the country is performing on an economic level.

How to Calculate It:

Household Spending +

Government Spending +

Investments (i.e. Securities ) +

Net Exports +

= GDP

What Can We Do To Value Our Market:

• Auction House – Public Exchange
• Person to Person – Private Exchange

Household Spending:

Market Value

• Gathering Mats ( i.e. Ore, Herbs, Skins, Misc Fish Etc...)
• Battle Pets
• Mounts
• Household Spending Total – 73, 345, 255.06 Gold
• Argent Dawn EU

Government Spending:

• None Applicable due to know Government Spending in game. Factored out

Investments:

• A security, in a financial context, is a certificate or other financial instrument that has monetary value and can be traded. Securities are generally classified as either equity securities, such as stocks and debt securities, such as bonds.
• Now an argument for TCG Mounts and Pets to be considered as a Security but due to items like these such as standard mounts and pets are calculated in House hold Spending this makes these TCG's to be Indistinguishable from Normal Trade.

Net Exports:

• Net exports are the difference between a country's total value of exports and total value of imports. Depending on whether a country imports more goods or exports more goods, net exports can be a positive or negative value.
• We can make an approximation of Goods being bought to craft items ( i.e. professions ) and goods that are being sold. Goods coming into the character and goods being sold by that character.
• We can then take a look at all professions and by using the profit from each “Import and Export” and then timesing that by the available quantity of each item on the ah giving our values for each craft.
• 
  
• All we would have to do is add that list of figures together and then do the same each crafting profession and then adding all of those together giving us an approximation of the Net Exports of AD EU.
• Net Exports = 36, 090, 237. 14
• Argent Dawn EU

Overall GDP:

• Now To calculate the GDP for that given day
• So as Government Spending and Investments have been Factored out we just need to add the:
  Household Spending + Net Exports
  Giving Us = 109, 435, 492. 20 Gold on that given day
• Now if we assume that is the Average per day then all we would have to do is times that by 365 days of the year.
• Giving us a GDP = 39, 943, 954, 653 Gold – BIG Approximation!!
• Argent Dawn

Token Exchange:

Now For a bit of fun, the token as it stands is 172, 617 gold - £17 - $20

using this we can use that as an exchange rate for IRL Money giving us:

Argent Dawn EU Value: £3,933,837.51 - $4,955,887.83