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Business Economics
Business Economics
7 pages (1750 words)
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... This paper involves practical elements and aspects of business economics in relation to real life businesses. To this end, the paper is written from the perspective of the managing directors of a manufacturing company. To this end, the research will examine the worth and importance of Business Economics by way of its contribution to planning and decision making. Q1: Business Economics & Manufacturing Company As a managing director of a manufacturing company, I will be overseeing a large entity that takes inputs from the society, processes it and offers it to consumers in the markets. Therefore, I will be concerned about various aspects of the markets as well as the wider business environment with...
Managerial economics
Managerial economics
5 pages (1250 words)
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... Managerial Economics Introduction In the paper two basic concepts of micro economics is represented with the illustration of easy diagrams and short mathematical exercises. The first one is the theory of demand and theory of supply along with market equilibrium and the other one is the production possibility frontier of two countries. In the demand and supply framework a detailed explanation of the demand and supply is given with the notion of market equilibrium and also how disturbances in the market self adjusts and return back to its initial equilibrium state. In the production possibility frontier paradigm, its construction is given for two countries and how the countries with comparative...
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The Role of Economics
The Role of Economics
6 pages (1500 words)
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... Study Skills The Role of Economics This essay is a chapter analysis of chapter three, ‘the role of economics’. This task is aimed at examining the depth in which the learner understands the ideas presented in the chapter and how well he can develop an argument pin pointing the main ideas that have been presented. Therefore, in this work I shall disseminate the author’s ideas and try to make understandable to an individual who may just have the chance to read the analysis and not the chapter. On top of this, upon a critical evaluation, the argument raised should depict a deep understanding of the concepts put across as well as a good mastery of language that is used to put the ideas presented across. ...
BUSINESS ECONOMICS
BUSINESS ECONOMICS
5 pages (1250 words)
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... OF DEMAND IN A GOVERNMENT DECISION TO IMPOSE A SPECIFIC TAX ON CIGARETTES. Introduction It is a common misconception among executives andbusinessmen faced with rising costs or the need to improve profit margins that increasing the price of ones product is an effective way to increase revenue. Also, when the government imposes an excise tax the common tendency is to charge the full amount of the tax to the consumer with the conviction that profit objectives will not be affected. Decision makers who do not understand the concept of demand elasticity in economics are bound to be disappointed when their preconceived notions are proven wrong. This paper will discuss the concept of elasticity and how a...
Economics
Economics
2 pages (500 words)
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... supply1 P1 C1 Supply of Wheat 2 PE C2 P2 Q1 QE Q2 Wheat Demand Curve 1a) the quantity demand is labeled QE and corresponding price is PE in the graph. 1b) after the price increase, the corresponding quantity demand and quantity supplied are Q1 and Q2 as shown in graph respectively at price P1. 1c) the triangle C1 in the graph indicates the cost that the government will incur by implementing the first policy. 1d) CI is excess surplus that the government will purchase in order to maintain the price p1 and is equal to the cost of government. Meanwhile, C2 show the cost that the government will incur by implementing the second policy. 1e) if the government decides to maintain price at p1 by ...
Economics
Economics
16 pages (4000 words)
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... Introduction Since the policy reform process began in 1979, China’s economy has undergone rapid growth and structural change (Wang et al 2002). If ever there was any doubt that “policy matters,” China’s experience over the past 25 years should dispel it once and for all (Dunning, 1994, Sadka, & Rasin, 2002). China is now the largest recipient of foreign direct investment (FDI) in the developing world. According to Wang et al., (2002), recent years have witnessed the emergence of China as one of the most important destinations for foreign direct investment (FDI), with the country receiving about US$403.98 billion by the end of 1999. The emergence of many studies on Chinas’ FDI shows the importance...
Labor Economics
Labor Economics
3 pages (750 words)
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... Economics Labor Economics The human capital is one of the scarce resources that are available in a firm and its effective utilization is not an option for any organization that wishes to meet its short term and long term goals. The efficiency of the employee depends on their ability to deliver on the assigned duties which in turn depends on their knowledge, skills and training. The knowledge that an employee possesses originates from either classroom or on-job-training and more often both. In the recent past, there has been a great controversy as to whether on-job-training or school education is more effective in equipping an employee with effective working knowledge. No matter how effective the...
Philosophy of Economics Assignment
Philosophy of Economics Assignment
3 pages (750 words)
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... THEORY There is considerable evidence that many decision makers depart significantly from strictly rational expected-value models of choice. Kahneman and Tversky’s (1979) Prospect Theory is considered one of the major breakthroughs in economic science. Kahneman and Tversky aimed at explaining several inconsistencies and paradoxes in individual’s choices between various outcomes or “prospects” (Kahneman, 2002). The correspondents of the Prospects Theory propose several departures from strict rationality (Kahneman, 2002). The most important concept of Prospect Theory is the value function which is "normally concave for gains, commonly convex for losses, and is generally steeper for losses than for...
Economics USA
Economics USA
2 pages (500 words)
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... USA BOOMS AND BUSTS Part I Making an effort to understand the Booms and Busts that happened and probably will happen any time. According to the experts in economics there is no definite answer why there are Booms and Busts and what is the mystery of the business cycle. Many theories were proposed to solve this but in the end it's the same scenario that has happened time and again that shifted the balance of the market. According Karl Marx the Business Cycle is the reason for the failure of Capitalism where as Joseph Schumpeter believes Business Cycle is the reason for the success of capitalism. But where we examine their statements it seems that both are true in their context. If markets are doing we...
Micro economics
Micro economics
2 pages (500 words)
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... Macro & Micro economics, Essay Topic: Micro economics Worker`s compensation laws are made to protect employees who get injured, disabled or even killed due to the negligence of the company. The company or the employers are usually held responsible for the behavior or performance of the employees. This is because it is believed that the employees are working on the orders of the employers or their responsibility depends on the type of their job. Under the federal employment compensation act, those employees who are either disabled or killed during the performance of their duties are provided compensation by the company. (Worker`s compensation, web). Compensation of an employee who has died as a...
Globalization and Economics
Globalization and Economics
5 pages (1250 words)
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... Globalization and Economics Introduction Globalization is recognized to be one of the significant constituents in the modern day context. It entails the interaction of technology, markets and State. These aspects are recognized as the most distinctive and primitive innovations of mankind. The notion of globalization significantly confronts with the issues related to technology, market, demands for up-surging growth and productivity in the economic context nationally as well as globally. The term has gained much significance in recent times, which was initiated during the end part of the Middle Ages in the continent of Europe (Sheel, 2013). The term ‘globalization’ can be described as “an...
The Concerns of Economics
The Concerns of Economics
2 pages (500 words)
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... Concerns of Economics A circular flow diagram that includes the government sector. For this part of your paper, you should include a description of the roles that each participant plays in the economy and how the different sectors interact in the markets Figure 1 Retrieved from http://www.AmosWEB.com The circular flow diagram is an important model in macroeconomics as it represents the activities key players in the economy; government, producers, consumers and the rest of the world. It comprises four sectors including business, government, household and foreign as well as three markets; resource, finance and product (AmosWEB LLC, 2013). The household sector includes all the people who seek to satisfy...
Principles of Economics
Principles of Economics
3 pages (750 words)
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... Webb Einar Velarde ECO 100- Principles of Economics May 3rd, Principles of Economics Identify a relevant economic article from a newspaper or magazine. The article must deal with What is economics, key principles of economics, demand, supply, and market equilibrium, and lastly a measure of responsiveness. The article “Why is turkey cheaper when demand is higher?” by Catherine Rampell as published in the New York Times newspaper forms the basis for this essay. The author applies the principles of economics, specifically applying the law of demand and supply to explain the responsiveness of prices of turkey during Thanksgiving. The article also describes the responsiveness of the US market to changes ...
Economics and Health Care
Economics and Health Care
4 pages (1000 words)
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... Health Care Economics Corey Sutton Dr. AM The Economics of Health and Health Care Economics and Health Care How Economics Applies to Health Care Economics is fundamentally a social science that seeks to explain how society allocates its scarce resources to satisfy the demand for various goods in society. Many scholars have debated whether the concepts and principles developed in economics can be used to explain how decisions are made in health care. There are a number of ways in which health care may be regarded as an economic good. Yet, in some ways, health care is quite different from conventional goods and services as understood in economics. For instance, many people desire health care, not...
Economics of Leisure
Economics of Leisure
7 pages (1750 words)
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... OF LEISURE By Introduction When Adams defined economics as wealth of nations, the purpose was to account for the resources that can benefit its citizens. It means that with the advancement of technology, the populace should have more economic benefits than before. Economic growth should be accompanied by enhanced living standards. Betrand Rusell, one of great English philosophers praised idleness and in one of his writings he held that if society was to be managed in a better way than citizens would only need to work for four hours a day. He believed that such hours will accord people the required necessities and the elementary life comfort. He believed that the remaining hours could be in pursuit...
Economics Assignment
Economics Assignment
9 pages (2250 words) , Download 1
... 5 November 2009 Monopolies - A General Overview Introduction A Monopoly or Monopolies have been determined as one of the main types or causes of market failure, the term not suggesting death or cessation of the market but rather aligned with the definition of a monopoly. A monopoly is defined as: "exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices." (Dictionary.com Unabrdiged v 1.1) In dealing with microeconomics, we must be cognizant of the real world nature of this subject area as well as the simplicity of its underlying structure, whilst the monopoly, and different types of competitive behaviors, form part of the industr...
Principles of Economics
Principles of Economics
3 pages (750 words)
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... A clear understanding of economics is necessary in order to make sound decisions while undertaking any business transaction. This is mainly because, proper consideration ensures that one gets the best out of the resources he has. In some cases, exploitation may be executed which would have adverse effects on the development of a person or a business. In the past, people used to indulge themselves in such practices without having the basics on the principles of economics. As a result, economic development was not achieved which necessitated the improvement in the approach to the operation of business by individuals as well as institution. The economic success of a country derives its roots from the...
Behavioral Economics Performance
Behavioral Economics Performance
3 pages (750 words) , Download 0
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... Normative and Positive Economics: McFadden (3) defines normative economics is a branch of economics that deals with judgments, emanating from the value of a product. This branch of economics concerns itself with what is supposed to be, at the expense of what actually it is (McFadden, 6). Normative statements represent an opinion, or a theoretical scenario, and they are always used to develop new ideas, and establish goals. An example of a normative statement is such as; the government should reduce taxes by half, in order to increase the level of disposable income within the state. Neoclassic theory better explains the principles of normative economics. McFadden (6) denotes that neoclassic economics ...
Principles of Economics
Principles of Economics
4 pages (1000 words)
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... PRINCIPAL OF ECONOMICS Question Alcohol abuse has a detrimental effect on the nations of the world. Alcohol abuse costs society billions of dollars in a year. The economics of alcohol abuse revolves on the monetary costs of alcohol related problems that occur due to its misuse. Also, the opportunity costs lost by alcohol abusers are vast and make up to millions of dollars. The costs of alcohol abuse include the costs of health, treatment costs, and premature deaths (Cook, 2002). Therefore, addressing alcohol abuse is a vital task for economist. There are economics variables and principals of solving the problem of alcohol abuse. First, by increasing the prices of alcohol, the authority will require...
Economics Project Assignment
Economics Project Assignment
3 pages (750 words) , Download 0
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... June 28, Economics Project Economic principles play a crucial role in the decision making of individuals, business firms and thus of society. The choices made by them are often influenced by these principles and this increases the scope of economics. “Economics is the study of allocation of scarce resources, choices, and opportunity costs” (Department of Economics: Description and Mission of Department par. 1). The choices are made mainly for two purposes- consumption and production. The major economic principles that influence the choice of a society with the view point of a consumer are utility analysis, indifference curve analysis, and demand theories. The choices made by business firms are often ...
Economics and Sustainability (essay)
Economics and Sustainability (essay)
8 pages (2000 words)
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... Macro & Micro economics Introduction Neo ical economics is the theory of economics that deals with the optimization problem of the two most important agents in the economy; sellers and buyers. In simple words, the theory revolves around the concept of price mechanism followed in the free market economy and the market allocation of resources from within the opportunity sets (Endres 2002, 6). The sellers and buyers are on two sides of the market forces that meet at the market with the aim of maximizing private gains from obtaining goods and services (Weintraub 2002; Keita 1992, 7). This paper presents a study on the compatibility of this theory with the basic concepts of sustainability. The notion of...
Managerial Economics
Managerial Economics
8 pages (2000 words)
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... Economics Introduction With every passing year, oil appears to play an even bigger role in the global economy. Initially, finding oil through a drill was considered somehow a nuisance since the intended treasures were usually water or salt. This wasn't until 1857 when the first kind of a commercial oil well got drilled in Romania. The UKpetroleum industry was born some years later (MCCORMICK, 1993). This paper will analyse the current oil prices and also explore how the price of oil, just as other commadities, is a complex mixture of demand and supply factors. How government policy might influence the price elasticity of oil will also form part of the discussion in this paper. Analysis of the current...
Maritime Economics
Maritime Economics
9 pages (2250 words)
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... ECONOMICS MARITIME ECONOMICS Inserts His/her Inserts Grade Inserts Table of ContentAbstract 3 This report covers the maritime economics in the context of logistic and integration study which occur in shipping, port and terminal management. The concept focuses on joint optimization of container terminals and ocean transport networks. This research was carried to investigate capabilities of firms operating in the logistics industry. The key strategic elements for building competitive capabilities on liner image, profitability, marketing, and management addressed in this report. 3 Issues related to logistics services are covered in this report which is to provide rapid customer response, location of ser...
Principales of Economics
Principales of Economics
3 pages (750 words)
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... AND MACROECONOMICS [Insert al Affiliation] Economists separate economics into two major branches macroeconomics and microeconomics. These two major components of economics look at the subject in both at broad and narrow levels (Mankiw, 2014). In essence, Chris Rodrigo defines the two concepts in his article “The economic divide” (Rodrigo, 2012). The article basically points out the difference between the two economic concepts. For one, macroeconomics gives a large perspective of economics. It is concerned majorly on how the overall economy operates. This branch of economics deals with economic aspects such as employment, inflation, gross domestic product. On the contrary, microeconomic deals with ec...
Maritime Economics
Maritime Economics
10 pages (2500 words)
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... ECONOMICS College: THESIS: It is believed that "the mismatch between demand for shipping services and supply of ship tonnage is one of the main factors contributing to freight rate fluctuations in the shipping market" Abstract There are two major reasons why shipping companies have been merging or forming alliances. The first is to access the bigger market share that come with volume and efficiency. The second is to access reduced shipping rates due to ability to match the supply of ships to the volume demand that will eventually assure the liners of economies of scale. The achievement of reduction of rate is the more complex concern for an economist as this has many limiting factors that ...
Basic Economics
Basic Economics
11 pages (2750 words)
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... Economics QUESTION Managerial economics assist manager to make proper decisions. There are six steps involved in decision making system. The first step is defining the problems of a respective situation. The first step of the decision making is the key factor of this model. This step mainly evaluate the kind of problems, managers are going to be faces in future. The definition of the problems will support managers to make appropriate decisions. The second step is to determine the objectives. The objective mainly explains the goal of a firm. The aim of a firm is to maximize the profits and balance the figures of revenues and expenses. The next step of the decision making model is to explore...
Economics
Economics
6 pages (1500 words)
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... Introduction Revealed Preference theory is different to that of Marshall’s utility approach and Hicksian indifference curve approach. In place of the concept of ‘utility’ by Alfred Marshall, the indifference curve technique has introduced the term ‘preferences’; instead of the cardinal number system, which is said to measure the strength of a consumer’s desire, the indifference curve substituted ordinal number system of first, second, third etc., to indicate the consumer’s scale of preferences. The concept of marginal utility has been replaced by the marginal rate of substitution. And against the Marshallian ‘proportionality rule’ to describe the consumer’s equilibrium, indifference curve technique...
Economics in Australia
Economics in Australia
12 pages (3000 words)
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... Economics is the social science that learns the production, distribution and consumption of goods and services. The word economics comes from the Greek for oikos or house and nomos or custom or law, therefore set of laws of the house or hold. A description that confines a great deal of modern economics is that of Lionel Robbins in a 1932 thesis, "the science which learns human behavior as a association amid ends and insufficient means which have unusual uses." Scarcity means that accessible possessions are inadequate to please all wants and needs. Not present scarcity and substitute uses of obtainable capital, there is no economic problem. The matter accordingly distinctly engages the study of...
Economics Economic Growth Models
Economics Economic Growth Models
4 pages (1000 words)
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... This paper is a detailed summary of the following broad types of economic growth models: Neo ical, New Growth Theory, and Keynesian. The effects of war on each model is also explored. The Neoclassical growth model has its origins in 1800's through the works of William Stanley Jevon (Theory of Political Economy, 1871), Carl Menger (Principles of Economics, 1871), and Leon Walras (Elements of Pure Economics, 1874). Neoclassical economics gained further with the work of Joan Robinson and Edward Chamberlin. Robinson's The Economics of Imperfect Competition and Chamberlin's The Theory of Monopolistic Competition (both published in 1933) focused on models of imperfect competition. Their work led to the...
Economics
Economics
4 pages (1000 words)
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... I disagree with the ment that money can buy happiness. According to previous surveys, human beings will prefer to use less effort in looking for money. They instead devote such time to more important issues like health and family life. I support this statement because you can not look for money when you are sick or you do not have peace at home. This is because efficiency reduces when faced with such problems. According to Easterlin R.A. (2004), happiness is low when self-reported health is poorer. Negative impact of poor health to happiness is partly due to loss of income but mainly it is caused by limit to one’s usual activities. This is a clear indicator that people are more concerned about health...
Economics and Psychology
Economics and Psychology
5 pages (1250 words)
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... D. (2003). A psychological Perspective on Economics. There exists a gap between the assumptions of psychology and economics. In 1970, Bruno Frey stated that "the agent of economic theory is rational, selfish and his tastes do not change." Kahneman (2003) throughout his paper commented on the development of these three assumptions. Correcting and elaborating the assumption of selfishness has witnessed the clearest progress. This progress came from development of economics and the invention of the ultimatum game theory. Evidence proved that a large number of people would forgo a substantial sum for the sake of denying a larger sum to a stranger who treated them ungenerously (Lisa Cameron 1999). Evidenc...
Economics for Sustainability
Economics for Sustainability
8 pages (2000 words)
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... Economics for Sustainability Introduction The degree of the problems recently besetting the natural resources and environment reflects the significant social economic progress attained in the XX century. The increasing economic activities around the world have a significant impact on the environment such as transport, energy, construction, industry and agriculture. These developments pose a genuine danger to the global environmental balance. The term sustainable development was created in 1987 by the United Nations Commission of Environment and Development. The term was coined to refer to the endurance of the human species and maintenance of the productivity of naturally, generated and human...
The Subject of Economics
The Subject of Economics
2 pages (500 words)
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... ment My intended major is Economics. My inclination towards the can be traced to my early school days. Time only made my love stronger. Different theories of economics coupled with and its real life application continue to fascinate me till date. It was only natural for me to join the Economics club, a platform to share information related to this subject. I had also won two competitions with other schools. The subject, Economics is actually a ‘social science’. Hence, it basically deals with people and society. Economic can be defined as “the study of choice under conditions of scarcity” (Hall & Lieberman, p.1). Economics is studied to understand the manner in which choices are made among different...
Business Economics
Business Economics
1 pages (250 words)
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... Economics Question One Among the very many benefits derived from capitalist economy in U.S. are the principles of equality and secondly freedom. U.S. upholds the rule of equality among its citizen with regards to services provision, the rule of law and justice. All these have contributed to a fair society where everyone has an equal share of the available resources and are treated with dignity. Furthermore the American freedom hit the bar to be paramount and highly profound. This creates a free community in which one does what he chooses to at will and this result to individual productivity and room for self-development to constitute the national economic development at large. Question Two ...
How Spirituality Effects Economics
How Spirituality Effects Economics
3 pages (750 words)
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... spirituality affects economics The American Economics Association s that “Economics is the study of how people choose to use resources.” Indeed, the factors that determine how people use their resources and for that matter; the factors that influences or affects economics are varying and widespread. Not until recently, not much attention was paid to how the spirituality of people can affect their economics. Spirituality has been thought to be associated with our inner self and has much to do with our non-physical self but our spiritual self, having an encounter with God (Russell, 2006). Most commonly therefore, spirituality is said to have a close relation to religion since religion centers on man’s ...
Health Economics Essay
Health Economics Essay
3 pages (750 words) , Download 0
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... Economics Health is a fundamental aspect of humanity and every human must be in good health to survive in this competing world. As such, governments and individuals use considerable amounts of money to guarantee good health at all times. Hence, the demand for health is always higher than the supply which relates to the availability of resources. Therefore, health economics addresses the value, efficiency, availability, scarcity of healthcare, and the methods of bridging the scarcity (Guinness & Wiseman, 2011). This follows specific economic principles, disciplines, and economic concepts that relate to choices regarding health and health care. Economic principles demand that we apply rationality in...
Environmental Economics
Environmental Economics
5 pages (1250 words)
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... Economics The Carbon Problem Development is becoming the aim of every country around the globe; the belief that success is based on progression and technological advancement is becoming prevalent. Each country, in their struggle towards becoming a first world country and being economically strong, is harming the environment and the ecosystem around them. For every human being on this planet, it is extremely important to be breathing in clean and hygienic air; otherwise, many health issues tend to erupt. Environmental Economics is a branch of economics dealing with all the environmental issues that emerge from the economical efforts of a country. It is the study of environmental policies and to see...
Economics - Various
Economics - Various
3 pages (750 words)
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... continuous) – pp. 2-5 Version 2 (by topic) – pp. 6-11 Externality Externality refers to the impact of economic decisions to parties not directly involved to it. They are quantified by the external benefit or cost bourn by these outside parties, considered to be third parties to the economic decision. The implication is that the impact of economic activity is not exclusive to producers and consumers alone or that there is cumulative impact to economic decisions that society as a whole bears (Mankiw, 2006). This can be particularly apparent in cases where the good or property considered of the economic decision is owned collectively or whose distribution of utility is being by the state or in cases...
International Economics
International Economics
5 pages (1250 words)
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... Economics Introduction: The Association of Southeast Asian Nations (ASEAN) set up in 1967 is one of the regional trading agreements among Indonesia, Malaysia, the Philippines, Singapore, and Thailand and is still operating. Five new countries have joined this agreement namely Brunei Darussalam, Cambodia, Lao PDR, Myanmar and Vietnam. The two basic objectives for this agreement were to accelerate economic growth and to maintain peace and stability in this region. The diversity of the members of ASEAN is noticeable. Singapore is 80 times richer than Myanmar and attracts US$5000 FDI per capita while Myanmar receives only US$6 per capita. The location in heart of Asia has lead to faster growth of ASEAN ...
Economics Assignment
Economics Assignment
7 pages (1750 words)
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... Macro and Micro Economics Currently, the degree of competition is increasing significantly in the marketplaces. At this juncture, it has become extremely important for business firms to operate according to the economic theories. This essay will show how Procter and Gamble carries out its day to day business dealings on the basis of microeconomic theories. The theories like, Theory of Demand, Theory of Market Structure and Theory of Long Run business, would be used by the researcher to conduct the analysis. The researcher would use several real life evidences to show the empirical verification of the analysis. In the final stage, the paper would explain several further businesses and operational...
Health Economics of Medicine
Health Economics of Medicine
8 pages (2000 words)
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... Health Economics (HE) is a branch of Economics that deals with the allocation of scarce health and healthcare among unlimited demands. Primarily HE tackles major issues and concerns that affect the distribution of health care (Williams, 1987 pp. 10-32). Like other branches of economics, there are certain subdivisions that specifically discuss various subjects related to Health Economics. These distinct topics include: influences to health; health and its value; demand for health care; supply of health care; microeconomic evaluation and treatment level; market equilibrium, system level evaluation; planning, monitoring, and budgeting mechanisms. The value of Health Economics is indispensable in a soci...
Business Economics
Business Economics
10 pages (2500 words)
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... Head: Business Economics Business Economics [Institute’s Business Economics Introduction The importance of manufacturing has to be realized and this fact has been argued by Smith and Grant (2003) by the countries in need of the developed economies. In the past the fact accepted was that among all the countries in the world, United Kingdom is the one industrialized state and has a developed economy. Moynihan and Titley (2001) have said that United Kingdom was the first country to revolutionize. It is the first industrialized country. However, these days the same country has been undergoing de industrialization. Body These days it has been noticed that United Kingdom is undergoing the service revolutio...
Ancient maya economics
Ancient maya economics
2 pages (500 words)
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... MAYA ECONOMICS The ancient Mayan economics has received much attention as well as controversy to determine the nature of its economy (McKillop, 2004).The controversy exists because the hieroglyphs contain very little information about the economy. Generally, the Maya economics consisted of prestige economy or subsistence economy (McKillop, 2004). The prestige economy consisted of production and distribution of goods or resources that were for the royal or elite Mayans. The goods would include highly crafted items made from jade or marine shells, nonlocal items and other symbols of royalty (McKillop, 2004). The subsistence economy means the goods used for daily use by all the other classes of the...
Macro economics
Macro economics
11 pages (2750 words)
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... Table of Contents Introduction 2 People’s Republic of China 2 India 5 Trends in each variables 7 Strengths and weaknesses of the economies 9 Conclusion 11 References 12 Economic Profiles of China and India Introduction The macro-economic profile of China and India, two of the emerging countries in the world today, will be discussed in this study. For each country, the following economic indicators : GDP and GDP growth rate, exchange rate, inflation rate, interest rate, unemployment rate, and trade deficits will be presented and compared with each other. The corresponding strength and weaknesses of these economies will be viewed. In the final analysis, a conclusion will be arrived to draw possible...
Market Economics
Market Economics
6 pages (1500 words)
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... An market in economical terms is any place where the exchange of goods and services takes place between buyers and sellers of the market, the market in economics sense need not be a physical place it can be a virtual meeting place where exchange of goods and services takes place, for example the internet based website ebay is in itself a market place, a virtual one. Having defined the market, there is a definite need to explain what determines how a market operates and what kinds of markets exist, economically speaking. The factors that determine the category into which a market falls are basically the number of buyers and sellers, the information that each of them have about the each other and the...
International Monetary Economics
International Monetary Economics
6 pages (1500 words)
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... International Monetary Economics Table of Contents Introduction 3 The monetary approach 4 The elasti approach 4 The traditional approach 4 Critical Analysis 5 Conclusion 9 Reference 11 Bibliography 12 Introduction Exchange rate is considered to be one of the most important prices in open economies affecting all businesses, policy decisions and investments. Consequently the study of exchange rates has emerged as a crucial field of economic research since the last few years. This particular field of research has received a tremendous boost, especially in the era of the Bretton Woods in which the foreign rates of exchange became extremely volatile since the inception of the floating rates of exchange...
Degree in Economics
Degree in Economics
4 pages (1000 words)
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... Statement 1. What is your intended major? Discuss how your interest in the subject developed and describe any experience you have had in the field — such as volunteer work, internships and employment, participation in student organizations and activities — and what you have gained from your involvement. I intend to pursue a degree in economics with vast opportunities to focus on specific and diverse fields that could range from politics (Political Economy) and math (Mathematics/ Economics), econometrics and other macro or microeconomic fields, among others. Having been born in Korea, I was initially immersed in endeavors that delve in complying with my duty for military service after graduating from ...
Tools of Managerial Economics
Tools of Managerial Economics
4 pages (1000 words)
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... of Managerial Economics – with an emphasis on the political scenario in the erstwhile Soviet Union. Contents Tools of Managerial Economics – Methodology 2 Conclusion 4 References 6 Crouzet, F. 2001. Relative GDP per capita of eastern European countries. A History of the European Economy, 1000–2000. (Pg 253). University Press of Virginia. 6 Introduction Economics play a pivotal role in determining business decisions. Managerial economics, as a tool, applies to the New World economy. The various challenges that confront the management of the different organizations in this New economy are similar to those in the Old economy, different only in the scale and form of implementation. As a result the econo...
Business Economics
Business Economics
6 pages (1500 words)
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... Business Economics Percentage Unemployment Rate (UK, the EU & the USA) Source: Office of National Statistics (2013) Unemployment is termed as the lack of occupation that leads to self sustainability in an economic perspective. According to Koos and Granata 2008, unemployment is one of the world’s most difficult agenda as it seeks to deter economic growth of a specific country or state and the entire world. Of importance to note is that, countries with a high level of unemployment have the worst economic growth while those that have a low rate of unemployment experience better economic growth (Lange 1998). As such, it is argued that, unemployment is directly related to economic growth of any given...
Ecological Economics
Ecological Economics
10 pages (2500 words)
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... Ecological Economics   Lecturer: presented: Introduction Humans depend on the environment for food, energy, leisure, medicine and raw materials for factories among other uses. Any action that human beings are involved in affects the environment in one way or another. Economic uses of the environment are significant in the degradation of natural systems as well as endangering human life. When people discover natural resources that have economic value, they maximize their extraction regardless of the fragility of the environment. Companies are established to take advantage of the free resources and eventually competition results with each player trying as much as possible to maximize the economic...
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