12 Fraser of Allander Institute
Chart 1 shows the evolution of GDP and employment.
GDP reaches an equilibrium at around time-period 25 with an increase of 0.35%, which is sustained
until time-period 40. Employment changes see an initial fall but turn positive (and remain positive
thereafter).
The employment impacts across all simulation periods are captured in present value (PV) terms.
The increase in full-time equivalent (FTE) employment generated by the system-wide impacts of the
multiple graduation cohorts amounts to 3,900 FTE job years in PV terms as compared to the base
year.