Economics

Macro Theory and Policy

The national income output and expenditure of a country is what constitutes the relationship between two major sectors in any economy, the household and firms. Households provide the services that firms require while firms produce the goods that households need. Moreover, the household sector provides the capital that fund the creation of firms while firms …

Macro economics case

  Macro economics. Question 1. Question 1a. Adam smith a classical economist formulated the theory of absolute advantage which stated that trade can only be beneficial if two trading countries have absolute advantage in one good (i.e. given the same input one country can produce more output than the other). However, David Ricardo showed that …

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Low Socioeconomic Status and Academic Achievement

Low Socioeconomic Status and Academic Achievement     Introduction   According to the United States Bureau of Census, the most recent poverty rates of children are higher than they ever were.  A large percentage of children in the classroom are coming from low socioeconomic households.  And, a huge amount of research has shown that a …

Lottery economics

I. INTRODUCTION In more than half of this world, one can see people playing lottery games (Garrett 2001). In United Kingdom (U.K.), more than half of the adult population plays lotto every week. Lottery’s profound effect in U.K. was inflicted immediately after its first launch in 1994. This paper is a study focusing on international …

Loan application review

The basic accounting equation shows that Total Assets is equal to the sum of Total liabilities and Total Owners Equity ( Assets = Liabilities + Owner’s Equity). Assets are economic resources of an enterprise that are recognized and measured in accordance with generally accepted accounting principles (GAAP). It also includes certain deferred charges that are …

Neoliberal Economic Globalization

Neoliberal economic globalization is removal of barriers between different culture and countries. It means freedom of trade of resources and services. Major factors in neoliberal economic globalization are Economic growth, free trade liberalization and privatization. But somewhere down the line it has love-hate relationship with violent conflict. As sometimes it is considered as forward step …

Rural Insurance

India’s life insurance firms have exceeded expectations in terms of growing their business in rural India, both among the rural wealthy and the not-so-wealthy, and most firms in the business are actually ahead of targets laid down by the sector’s regulator, Insurance Regulatory and Development Authority, or Irda. The companies claim that apart from helping …

Business Proposal: Thomas Money Service

Since the 1940’s TMS has been providing small loans to consumers. During that time TMS augmented its business to include the servicing of business loans, business acquisition financing, and commercial real estate loans. In 1946 TMS decided to finance forestry and construction equipment. The decision proved to be very profitable and resulted in TMS’s establishment …

Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment

Most economists analyze short-run fluctuations in aggregate income and the price level using the AD/AS model. Chapter 13 – Aggregate Supply and the Short-run Tradeoff Between Inflation and Unemployment – covers the three theories of aggregate supply that examine the frictions of macroeconomics. This chapter also covers why the Phillips-curve equation is a convenient way …

Purchasing Power Parity

This article was our starting article which gave us the idea of researching the Purchasing Power Parity. It identifies that the Purchasing Power Parity should work in the long run, and that the exchange rates should move towards rates that would balance the prices of an identical basket of goods and services between two countries. …

Was the Removal of the Multi- Fiber Agreement a Positive Thing for the World Economy?

Q1) Was the removal of the Multi- Fiber Agreement a positive thing for the world economy? Why and why not? -The removal of Multi- Fiber Agreement was not a positive thing. WHY? -Country such as China will monopolize the industry due to the comparative advantage, low wage, and productive work force, economies of scale, good …

Comparative Advantage

1. What does the article say about the importance of international economics, the principle of comparative advantage, and modern trade theory? Explain. The article shows us how India diversified its economy by creating new avenues of trade when its manufacturing market took a dive nose. India saw there was a need in the international market …

The Output Approach

The Output Approach focuses on finding the total output of a nation by directly finding the total value of all goods and services a nation produces. Because of the complication of the multiple stages in the production of a good or service, only the final value of a good or service is included. This avoids …

Macroeconomic Factors for LCD TV Industry

Macroeconomic Factors for LCD TV Industry   This paper seeks to analyze and discuss the macroeconomic factors affecting the LCD TV Industry with focus on economic, social culture, legal, political, and demographic aspects of the study. This study may be used as basis for market research of any firm belonging to the industry.   The …

Latvia case

1. An analysis of the political, economic, technological and legal factors that may have an impact on your firm. According to the CIA Factbook (14 November 2006), Latvia came around after a brief period of independence between the two World Wars as it was annexed by the USSR in 1940. In 1991, it reestablished its …

Mercantilism

How do you develop a successful government that will please an entire nation? Since colonization the United States has been a country in pursuit of economic dominance over nation states. Mercantilism, liberalism, and structuralism have at some point in time been used to accomplish this goal of subjugated national welfare. These philosophies can be thought …

Discussion on the Advantages and Disadvantages of Economic Globalization

At present, economy globalization, which can be defined as the expanding world integration through trade, financial flow and knowledge, has significant effect on developed and developing countries. We are living in a world where people can communicate efficiently and enjoy the freedom of exchange of goods and capital. Due to the economic globalization, the material …

Keynesian Economics

    KEYNESIAN ECONOMICS The role of state in its economy cannot and should not be discounted. While the economy has its own “mind,” there are times when the state should actively intervene to ensure its (economy) stability. This paper will dwell on Keynesian economics, a theory stating that government’s active intervention in the marketplace …

John Maynard Keynes and His Economic Theory

John Maynard Keynes and His Economic Theory John Maynard Keynes is perhaps the most influential economist of the modern era. His economic theories were groundbreaking and revolutionary and have had a huge impact on the fiscal policies of many modern democratic governments, including that of the United States.  Keynes is most famous for his interventionist …

Karl Marx and his Critique of Classical Economics

The concept of a ‘classical economics is not so simple. The notion was invented by Marx, who explained it as beginning with Sir William Petty in England and Pierre le Pesant de Boisguilbert in France, and ending with David Ricardo and J.-C.-L. Simonde de Sismondi (Marx 1970:52). Since Petty’s works date from some forty years …

How important was the railroad network in the expansion of american economy in 1890-1910

How important was the railroad network in the expansion of american economy in 1890-1910! ! In period of 1890-1910, America was in the ‘‘Gilded Age’’ . It was an era for rapid economic growth especially in the North and West where million of immigrants from Europe came to America . It was the period of …

Brain Drain

Human capital flight, more commonly referred to as “brain drain”, is the large-scale emigration of a large group of individuals with technical skills or knowledge. The reasons usually include two aspects which respectively come from countries and individuals. In terms of countries, the reasons may be social environment such as in source countries: lack of …

Street Crimes

Most street crimes are rarely committed by big criminal organizations but its effects have a strong influence in society. In this essay, I’ll examine some causes and give solutions for this problem. Unemployment is one of the main causes. Unemployment leads to crime such as pick-pocketing. Unemployed people have no jobs, no money while they …

Transportation Economics

An economic model is either an explanatory, mathematical, or graphical representation of real world and theoretical events that captures a certain concept that belongs to one of the various disciplines of economics. An economic model is constructed using either a partial equilibrium analysis or a general equilibrium analysis, depending on the economic analysis that is …

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