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

The Current Crisis Sheds More Light on Macroeconomics than vice-versa - Essay Example

Comments (0) Cite this document
Summary
“The current crisis sheds more light on macroeconomics than vice-versa”. Discuss. Overview of the Topic Literally, the topic means that the current crisis reveals more information on macroeconomics than macroeconomics reveals more information on the current crisis…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.3% of users find it useful
The Current Crisis Sheds More Light on Macroeconomics than vice-versa
Read TextPreview

Extract of sample "The Current Crisis Sheds More Light on Macroeconomics than vice-versa"

Download file to see previous pages On a personal stand, it would be said that indeed the current crisis sheds more light on macroeconomics and that the various macroeconomic conditions practiced across the globe could greatly be attributed to why the global economic state has not seen any impressive growth over the few years. Indeed, instead of amassing the overall aim of instituting various macroeconomic policies to alleviate poverty and make the economic conditions of countries and its populaces better, certain critical misplaced priorities and mismanagement on the part of regulators of macroeconomic conditions have led to a total failure of the ambition. Today, the whole world seems to be in a shamble and economists continues to argue on which line of action is the best – whether macroeconomic conditioning or microeconomic conditioning. In the following text, specific macroeconomic condition, the roles they were expected to play in influencing global economic growth, and how they have failed and created crisis will be looked at. Again, specific contributing factors to why dependence on macroeconomics could not help but led to global economic crisis will be discussed. Finally, recommendations shall be made on how to revive the crisis through macroeconomics. Assessing Specific Macroeconomic Conditions and how they relate to Economic Crisis National Output and Income The output and input of a country is a major indication of the performance of the country economically. Given any period of time; mostly over one year, each nation produces certain about of viable product. Some of these viable products are goods whereas others are services. To find the national output of a particular country, the total production of viable products is summed up. The reason for using the national output to determine the macroeconomic performance of a country is the reason that the viable products, be they goods or services are considered to be tradable products that can yield the country economic income and revenue. National output is therefore considered to be an economic value. In light of this, Riley (2006) posits that the national output can be used to determine the value added to the economy of a particular country. He defines value added as “the increase in the value of a product at each successive stage of the production process.” This is where the need for using the national output to create wealth and thus alleviate a country from economic crisis and hardships come in. This assertion is made against the backdrop that the value added is expected to improve all aspects of a country’s production process and thus make the economic lives of the citizenry at all levels better. It is for this reason that the value added and national output are used to determine the gross domestic product of a nation. Again, the national output is closely related to national income because it is expected that the production rate and production proceeds of a country would determine how much the country will earn on the global economic market. For each sale made, there is an added income to the national economic coffers. This is one reason why the national output is easily used to determine the gross domestic product of a country. According to Riley (2006),”this measure of GDP adds together the value of output produced by each of the productive sectors in the economy using ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Current Crisis Sheds More Light on Macroeconomics than vice-versa Essay”, n.d.)
The Current Crisis Sheds More Light on Macroeconomics than vice-versa Essay. Retrieved from https://studentshare.org/macro-microeconomics/1445456-ypthe-current-crisis-sheds-more-light-on
(The Current Crisis Sheds More Light on Macroeconomics Than Vice-Versa Essay)
The Current Crisis Sheds More Light on Macroeconomics Than Vice-Versa Essay. https://studentshare.org/macro-microeconomics/1445456-ypthe-current-crisis-sheds-more-light-on.
“The Current Crisis Sheds More Light on Macroeconomics Than Vice-Versa Essay”, n.d. https://studentshare.org/macro-microeconomics/1445456-ypthe-current-crisis-sheds-more-light-on.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Current Crisis Sheds More Light on Macroeconomics than vice-versa

The Current Protection in England and Wales

Vis-a-vis the burden of the prosecution of proving the elements of the offense, there is the set of human rights to which the suspect is entitled and which must be respected by the police having custody of the suspect. These human rights range from the investigation stage to that of the trial stage of the criminal prosecution process and are provided partly by the conventions of the Human Rights Act of 1998. [The Stationery Office, 1998]
There is a great difference in law between the fundamental rights and liberties of individuals and the enforceability of rights and safeguards. The safeguards could only be made available through legislation and the provision of sufficient resources to give meaning thereto as well as make the...
11 Pages(2750 words)Research Proposal

How Effective Are the Current Environment and Ethical/Social Policies of Tesco

 Tesco has been accused of indulging in unfair and monopolistic activities, unethical price of price undercutting thus creating a squeeze on the competition and the local farming community. The volumes of goods traded and retailed leave a large carbon footprint. However, Tesco has stood it is for quite some time now by creating and implementing policies for ethical and responsible for not only fending media accusations but also by stating, and implementing ethical and social policies.

According to Walley (2005), sustainable practices are best developed with an interplay of forces outside organizations like laws, regulations, and competition and organizational policies like governance, and social and ethical practic...
10 Pages(2500 words)Assignment

Comparison of the Cold War International System to the Current International System

An example is that of the Korean War (1950-53) which is said to transform the nature of the Cold War, while its initial impact was to solidify the division of the world into political, military, and economic spheres. Take Germany for instance where imperialism was a victim challenged by the historians for the destruction of the German Government along with its supporters used to conduct (Keylor, 2001, p. 44). That indicates economic expansion and territorial acquisition has always been a problem promoted since the First World War. Even in the 1920s, it was fashionable to declare the German empire on the threshold of the ‘Great War’ (Keylor, 2001, p. 44).

Europe in the global context remained tense and divide...
8 Pages(2000 words)Article

Stranger than Fiction: Bernard Malamud

It was the nerve raking reality of the Holocaust that moved him to question his religious and ethnic identity5. As a result, he got immensely interested in Jewish tradition and history. According to Malamud, “I was concerned with what Jews stood for, with their getting down to the bare bones of things. I was concerned with their ethnicity- how Jews felt they had to live in order to go on living.”6
Most of the works of literature drafted by Malamud exhibit a strange mix of truth and fantasy and have often been allocated to the ambit of “parables, myths, and allegories.”7 There is no denying the fact that Malamud’s stories and novels have a clear cut moral objective. In fact, Malamud happened to be...
10 Pages(2500 words)Assignment

How Does the US Media Effects Evolve in Singapores Current Media

Lewis and Slade (2000, p. 223) in their critical evaluation of the effects of media communication on the audience argue that media effect is achieved incongruent with social context. Their study recounts the experiment on the influence of television on identity in Singapore indicates that US social values and Singaporean values greatly differ from each other. The sharp differences in program content have a negative influence on the audience because Chinese raised Singaporeans value marriage, social values, and collectivism whereas US social culture involves career, family and the struggle to balance the two. Therefore the question of US media's influence to destabilize Singaporean national identity is limited. This view is emphasi...
6 Pages(1500 words)Assignment

Current Trends in the Marketing Communications Environment

Traditional marketing communication functions such as advertising and public relations have also extended over the internet, as companies utilize the web to reach target audiences. One example of this is Toyotas marketing campaign of its Scion brand in 2006 in Whyville.net, a website is set up to for kids age 8-15 in order to encourage greater interaction and induce brand loyalty (Cousineau & Scurry 2006). According to Cousineau & Scurry, with websites such as these where consumers can try the brands, in the kid's case—test driving the Scion—consumers interests are aroused which make them seek out [a] brand and interact with it on an ongoing basis rather than actively avoid it (2006, 37).

An e-mail h...
13 Pages(3250 words)Assignment

The Effects of Financial Crisis on Supplier Selection Criteria of the Oil and Gas Industry Equipment Market

It is a difficult task to find those vendors who not only have the adequate quality and quantity of the needed raw materials but who also have an attitude of efficiency and display commitment to customer service (Sonmat, 2006). Further, organizations also strive to locate and select vendors who can be depended upon for long term relationship.

The number of factors or attributes desired from the vendor is vast, and different organizations and different industries place different importance on the attributes (Sonmat, 2006). Some of the vendor attributes may gain importance owing to the nature of the industry, for example, in the case of consumer perishables suppliers, like fresh vegetables or fruits, the buying firm would...
20 Pages(5000 words)Literature review

Macroeconomics and Trade Policys

Keynes argued that prices and wages do not determine the level of employment, as many classical economists suggested, but instead the level of aggregate demand for goods and services (Case & Fair 683). Keynes realized as well during the Great Depression that the government could intervene in the economy to attain specific employment and output goals by either increasing or decreasing taxes and government spending.

For example, raising taxes will decrease the disposable income of households and thus effectively decreasing consumption. When the government decreases consumption, the household demand for goods and services decreases thus it would only seem reasonable that the amount of output that the economy would also...
7 Pages(1750 words)Article

What Is Macroeconomics

While microeconomics is concerned with the factors underpinning the economic life of individual entities like families and small businesses, macroeconomics looks into the various elements that move or determine the economy in its entirety or what some call an aggregate economy. Macroeconomics is useful because it allows a predictive view of how market forces affect the economy and advises governments appropriate economic policies and gives private individuals and business entities a glimpse of what the future holds economically.
The term macroeconomics did not exist prior to the Great Depression but there was a collective set of theories that were used to study the various workings that influenced the aggregate economy. Econo...
8 Pages(2000 words)Assignment

Intermediate Macroeconomics and Macroeconomic Coordination

Similarly, if there is a difference in the values of GDP & APE, it will trigger the suppliers of goods & services to act together and bring the figure close to equality. This process is called output-price adjustment. The purchasers of the domestic output can be classified into three groups. Group 1 involves individuals having sufficient money to fund their planned expenditures. Group 2 comprises of individuals having insufficient money to fund their planned expenditures. The final group (Group 3) consists of individuals who have a surplus of money to fund their planned expenditures. Group 2 can acquire funds by begging, borrowing or reducing their planned expenditures. In a similar fashion, Group 3 can utilize their exces...
6 Pages(1500 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 The Current Crisis Sheds More Light on Macroeconomics than vice-versa for FREE!

Contact Us