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This is because the economy of the country at time the year is always verge and anything could hit. According to a report issued by the department of labor economics, where a lot of data is available in the market, it makes it harder to predict future occurrences (Tita, 2014).
Even when programmers have all the data that is needed, it requires someone with an economic background to analyze the information. When the economy of the US stabilized in the 1970’s, most firms dropped their in-house economists. They argued that they could get any GDP forecast from any person.
The primary role of economists in a firm is to digest data and information provided and come up into conclusions. The analysis helps firms to determine the number of opportunities as well as risks in the business world. Economics background is essential in order to achieve this. They also serve as gatekeepers in firms to ensure that forecasts are made from a similar set of data. This aims at ensuring uniformity of the statistics provided and accuracy of the information given to all stakeholders involved.
This is important in making financial decisions even in the future. Their knowledge and expertise are crucial in measuring business risks. They also offer consultancy services for new firms entering the market or even to existing ones. This may sometimes involve large business acquisitions. In such cases, market research on various key segments enables the economists to forecast on the future.
However, like anyone one else in the business world, economists are prone to missing the mark. For instance, they forecasted that the economy in Asia will increase to 6.5%. Rather, this was not the case as it only rose to 3.5%. This was caused by China’s economy which grew slightly that expected.
However, it is more difficult to make forecasts in the developing countries especially in Africa. This is because it is always difficult to quantify the level of demand at
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The houses are battered with no proper drainage system. The village does not have a doctor and is plagued by mosquitoes. The women do not have equal status as the men and in the absence of a girl’s elementary school they are also deprived of education. There is almost no women empowerment and their status is not equal to the males.
Fisher’s Plan for the Current U.S Economy a. Fiscal Stimulus b. Reverse Deflation c. Prevention 4. Irving Fisher on Current Economic Policies a. Raising the Debt Ceiling b. Adjust Tax Rates 5. Conclusion Introduction Irving Fisher is among the famous economists in the U.S who experienced the Great Depressed of 1929-33 and proposed relevant solutions using theories and models to solve the prolonged financial crisis (Allen, 1977).
Male characters take her for the prime suspect. Criticizing Mrs. Wright’s housekeeping skills, men go upstairs to collect forensic evidence while the women start noticing vital details in the kitchen left unnoticed by the men and among other things, find an empty bird
Due to mistreatment from their masters, most of them quit in order to find better employers in other industries. These massive changes were a big blow to the white employers and they sought to find another work force.
The main solution considered by most
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