Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Irish economy - Essay Example

Comments (0) Cite this document
In the paper “Irish Economy” the author analyzes two periods of negative growth rates separated by a period of positive growth in Irish economy. The researcher mainly emphasized upon the implementation of demand triggering policies for an economic boost…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.4% of users find it useful
Irish economy
Read TextPreview

Extract of sample "Irish economy"

Download file to see previous pages This fall in GDP growth rate had been a second to a similar dip during the fourth quarter of 2009, which is why the nation feared the possibility of a “double-dip recession” (Breadun, O’Brien & O’Brien, 2010). “Keynesian style stimulus package” Keynes had mainly emphasized upon the implementation of demand triggering policies for an economic boost. However, a positive shift in aggregate demand is least possible when an economy follows a stringent budget regime as the case had been for the Irish economy. In fact, a stringent budget policy is one of the reasons why the economy could not surpass over its recessionary phase successfully that tended a come-back within a short span. This is one of the reasons, why “Irish trade unions have stated that the previous austerity budgets have failed” and hence, have proposed that a “Keynesian style stimulus package” be followed. The Keynesian model of equilibrium proposed the following identity to equate aggregate national income, Y, with components of aggregate demand as follow – Y ? C (Y – T) + I + G + (X – M(Y)) Where, Y = National Income, T = Aggregate tax being paid. Hence, (Y – T) = Disposable Income C = Consumption Expenditure, I = Investment Expenditure, G = Government Expenditure, X = Aggregate Export Revenues M = Aggregate Imports Thus, four ways through which a stimulus package could be constructed to ensure an economic boost are as follows – Firstly, Keynes had advised a stimulus to be provided to the investors of the economy so that they should come forward and venture investment projects which could help in creating employment opportunities and thus, boost consumption demand through positively affecting the production of...
• Firstly, Keynes had advised a stimulus to be provided to the investors of the economy so that they should come forward and venture investment projects which could help in creating employment opportunities and thus, boost consumption demand through positively affecting the production of output.
• Secondly, the government could actually make tax relaxations to motivate people to consume more as they will be left with larger disposable income volumes. Greater the disposable income is, higher will be the consumption expenditure of the people and thus, higher will be the income generation in the economy.
• Thirdly, the national government must not make deductions in its own expenses and rather boost them which could actually result to increases in the aggregate demand of the economy and thus, its income level. This is starkly in contrast to the measures adopted by the Irish government which is that of restricting its budget expenditures or rather constraining it more.
• Lastly, the national government could also make adjustments in its rate of exchange so as to positively influence the demand for exports and negatively affect import demands. For instance, an economy amidst a recession could choose to depreciate its domestic currency so that the foreigners find it more and more lucrative to increase their purchases from the country in question, while the domestic people are back off from importing from nations which have a dearer currency.
...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Irish economy Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved de
(Irish Economy Essay Example | Topics and Well Written Essays - 1250 Words)
“Irish Economy Essay Example | Topics and Well Written Essays - 1250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


Chinese Economy

As the Chinese government opens its doors to the outside world, China, with its vast lands and the huge supply of labor, is fast becoming one of the world’s most favorite places for investors.
At present, China had developed a hybrid economic structure where half of the economy is still controlled by the government through state ownership of different business establishments and half is now an open market. As one of the world’s leading manufacturers, China is gaining ground. Foreign Direct Investment (FDI) had increased dramatically over the two decades since its economic liberalization began. However, there are important consequences that China must face as its FDI increases. First, China must accelerate integrat...
9 Pages(2250 words)Assignment

History of Gas Prices and their Effect on the Economy

The relation of inflation within a society with the ever-changing oil and gas prices is pretty much significant and one must understand that there is a strong bond present between the two. This strong linkage allows for prices to shoot up whenever there is a sudden upward trend experienced in the oil and gas prices and whenever the gold rates have increased on the global front. With so much at stake and economies coming to a standstill with the uprising trend in the oil and gas prices on a global level, one can only expect problems coming to the fore of the common man and woman present on the street. The worst possible explanation given by experts in the field of oil and gas prices’ regimes is that these are done to benefit...
9 Pages(2250 words)Coursework

An Outlook of U.K Economy

The UK has large coal, natural gas, and oil reserves; primary energy production accounts for 10% of GDP, one of the highest shares of any industrial nation. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. GDP growth slipped in 2001-03 as the global downturn, the high value of the pound, and the bursting of the "new economy" bubble hurt manufacturing and exports. Output recovered in 2004, to 3.2% growth, then slowed to 1.7% in 2005 and 2.7% in 2006. “ (, 2007)

The most prominent characteristic of the capitalist economy is the control of few people on a large amount of Capital. These people...
6 Pages(1500 words)Term Paper

Growth Performance of Indian Economy

This percentage is expected to rise to 70% by 2030 - the largest in the world, according to a report titled Destination India- from the Investment Commission of India.” (Hood).
We all know that for more than a century, the United States has been one of the largest economies in the world. However the past few years showed major development in some countries, and the focus moved to Asian countries like India and China which were progressing very fast.

According to the experts, share in the total world GDP of India will rise from 6% to 11% by the year 2025. The GDP of India rose to 9.0% during the year 2005-06 again to 9.4% in 2006-07. The projection reports say that India will be 60% the size of the US economy...
6 Pages(1500 words)Assignment

Organizational Behaviour, Types of Ownership, and Mixed Economy Issues

...Organizational Behaviour Task Explain what is meant by the term ‘mixed economy’. A ‘mixed economy’ is referring to the economic system wherein both the private-owned companies and the state-owned companies are present. The economic activities1 of a ‘mixed economy’ normally functions through a combination of capitalism and socialism or both. (Bullock & Trombley, 1999: p. 535) It means that the production of goods within the country is manufactured by both the private and public sector under the control of the government. Task 2: Two friends who work at the same factory are soon to be made redundant. One of them already runs a small business as well as working full time at the factory. Knowing they are likely to receive a quite large...
8 Pages(2000 words)Assignment

The Importance of Tourism to the World Economy

Since the eighties, perceived risk research has been of ongoing interest to tourism researchers, Dolnicar (2005) and Dickson, Chapman, and Hurrell (2000)  states. Contributions often include those which investigate positive risk as a factor in increasing tourists who are seeking a thrill. On the other hand, there are also those who view these risks as something negative, thus avoiding the destinations which are haunted by different risks such as diseases, terrorism and other forms of political instability (Dickson & Tugwell, 2000).

The current qualitative research inquired about the risks perceived by young people as regards both domestic and international traveling. A sample of 23 was interviewed for this purp...
15 Pages(3750 words)Research Paper

The Impact of the Growth of FDI on the Indian Economy

...Macro economic impact of the FDI flows on the Indian Economy Table of Contents Page ........................................................................................................................... 1. Introduction.................................................................................................................. 2. Relation to previous Research.................................................................................... 2.1. Early Research........................................................................................................ 2.2. Positive Impacts of FDI on the Economy.......................................................... 2.3. Negative Impacts of FDI on the Economy...
70 Pages(17500 words)Research Proposal

Globalization and Political Economy

... Globalization and political economy Globalization is widely understood as a modern process of integration of different economies, societies and cultures. Via a network of communication, transportation and trade, globalization has shifted accents of the modern world’s society to total unification. Globalization is also generally referred to integration of different economies, investment development, migration and technologies’ development. Nevertheless it is possible to claim that a process of globalization can’t be considered separately from other factors, such as economic, technological, socio-cultural, political, and biological ones (Held and McGrew, 2002). Globalization refers to a wide scope of ideas from different spheres through...
7 Pages(1750 words)Term Paper

How Did Plantation and the Slave Trade Contribute to Capitalist Development in the Atlantic Economy

... Univeristy: How did plantation and the slave trade contribute to capitalist development in the Atlantic economy? This study examines the issue of the slave trade and how it relates to the development of capitalism in the Atlantic economy. Primarily, the study addresses how plantation and the slave trade contributed to the rise of capitalism. The study will explore the horrors of the slave trade and how the slave traders led to the development of capitalism. The study focusses on how capitalism evolved during the slave trade. The study will also focus on the relationship between plantation agriculture, slavery, and the rise of capitalism. Introduction The transatlantic slave trade, which lasted for two hundred years, from 1650 to 1850...
8 Pages(2000 words)Research Paper

The International Political Economy of Nursing

Surveys involve the formulation of questions that assist in the gaining of evidence. Other clinical methods such as testing the hypothesis are applied in the collection of data for the formulation of evidence. Evidence-based practice is a vital approach in the field of clinical practice because it does not only put into consideration the current state of the patient but also the previous data and experience on the issue. To understand the connection between evidence-based practice and clinical appraisal, some past information is necessary for consideration. Evidence-based practice can historically be said to have started from the field of medicine, with an earlier name of evidence-based medicine. The simple application of this pra...
7 Pages(1750 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Irish economy for FREE!

Contact Us