Macro & Microeconomics Essays

There is a multiplicity of sites, some real, some virtual, where national transactions are governed. The states now share center stage with international entities like the World Bank, International Monetary Fund, and World Trade Organization. Treaties among states create these international organizations.

This can be possible so long as uniformity is introduced in the terms and conditions, in the world, for raising international loans. The existence of various currencies with their varying rates of convertibility inhibits uniformity in the terms and conditions, and apart from acting as a barrier to such integration, it also reaps unfair benefits to the developed countries.

This report is divided into two sections; the first section of the report discusses important terminologies such as Price elasticity of demand, Cross elasticity of demand, Income elasticity of demand and Price elasticity of supply. The other section of the report discusses about the actions that the government can take in order to reduce the fluctuations of commodity prices.

Alberta’s retail trade sector is also under crisis as well as the construction industry. The ironic fact about the construction industry is that despite the large construction project in the Caroline Gas Fields that are near Calgary and two other larger projects near Edmonton.

It occurred in the end of 1920s and it lasted for almost twenty years. The depression was very severe especially in the U.S this was well explained by the economic adversities which happened in this time in the U.S.Some of them were that almost 25% of the United States population of that time and almost 40% of the population who were not working in the farms was also laid out of work.

The city is one of the most highly populated areas in the globe. Approximately seven million people used to stay in Hong Kong of which 95% of total population is ethnic Chinese and rest 5% belongs to other ethnic group. Geography Hong Kong is located on the east of Macau.

The up-gradation process will encompass radical changes to the current business processes, alterations in current jobs as well as new positions. The management of the enterprise strongly believed that with the up-gradation or the development of its legacy billing system, the enterprise can attain huge profitability.

Gambling is a game that has existed for a long time, but it becomes more popular after the Second World War. In the year 2008, more than twenty six million people gambled in the state of Indiana generating more than $2.6billion in win (Landers, 2009). Landers also argue that gambling brought about income inequalities especially from taxation than other income generating activities due to the complex nature of the game.

This essay highlights major economic issues in China, that impedes the successful transformation of the economy to a market oriented model. The transition continues to feature lack of political liberalization. The present nature of economy is deemed unsustainable as the economic liberalization and unchanged state of politics cannot co-exist.

Opportunity costs take into consideration how many of the firm's resources used in this project could have been used differently and how foregoing an alternative investment or project affects the overall firm's profit margin. The difference between accounting and economic profit lies in the opportunity costs.  

There were at least four characteristics of the MP3 player industry that were shaping the dominant strategy in 2005. First, there were over 100 companies manufacturing MP3 players as of end 2005 but only about 7 firms were considered most important (Apple, Archos, Creative, Dell, iRiver, SanDisk and Sony).

Part (b) TC = ?MC = ?(3 + 6Q + 3Q2) = 3Q + 3Q2 + Q3 + c At a production level of Q = 0, the cost of capital remains $3: 3 = 3(0) + 3(0)2 + (0)3 + c c = 3 ? TC = 3 + 3Q + 3Q2 + Q3 Part (c) At Q = 3: TC = 3 + 3(3) + 3(3)2 + (3)3 = $66 Part (d) Tr = p (q) at P = $48 and q = 3: = $144 Part (e) Profit = TR – Tc = 144 – 66 = $78 Part (f) atc = tc / q = (3 + 3Q + 3Q2 + Q3) / Q ATC’ = (3Q2 + 6Q + 3) / 3 – (Q3 + 3Q2 + 3Q + 3) / Q2 ATC’’ = (6Q + 6) / 3 – (6Q + 3) / Q2 + 2 / Q3 (3Q2 + 3Q + Q3 + 3) At ATC’ = 0: Q4 + Q3 – 2Q2 – 3Q – 3 = 0 ?

In respect of such mistake the courts may set aside the contract. (Bell v. Lever Brothers Ltd.)1. The proposition that stands is the fact that mistake must be fundamental so as to allow the party to set aside the contract and these would be evaluated on the background of each case.

The growth in trade quantity is increasing the prospects of global and integrated port services. Many major port operator companies have evolved and engaged in competition with each other. The competition demands the needs for innovation and use of new technology for the port operator companies.

It was also the first football club to become a publicly listed company. For the twelve months ending July 31, 2003, the club reported a turnover of GB? 173 million (US$ 308M) (Jarvis, 2004) Sports & Games were an activity meant for enjoyment earlier; however, today it is treated or used as a product, commodity or service because of the infinite business potentials it provides to the business people.

Types of inflation Demand-pull inflation This type of inflation occurs when the demand overwhelms supply, it makes the prices of commodities, and or services to rise. The increase in demand with respect to low supply will consequently lead to excess demand.

Naturally, the discussion begins with an overview of the ideas put forward in the aforementioned paper. The typical textbook solution to capital budgeting is through computing the Net Present Value (NPV) of a project by using the cost of capital as the discount rate to identify the projects that lead to maximization of the value of the firm.

This brought new ideas that created disillusionment to American people. The production of war pulled America out of a tremendously large depression; the women were left to replace the people who had gone to participate in the war. This changed the roles of women who had to stop staying at homes and go to work in order to sustain the American country.

If Fed sells government securities to an agent, then it means that the available government securities reduce hence a reduction in credit creation (Langdana 100). With the reduction in credit creation, interest rates will increase as the government tries to discourage people from borrowing the securities.

First, states are required to develop measurable objectives statewide for the improvement of achievements by every student and for particular groups like those with limited proficiency in English, the economically underprivileged, and those suffering from disabilities.

This means that, after every fifty years the central bank of England anticipates the value of the economic assets to double. The growth in value of resources is in relation to the value of money in distribution. Availability of funds for use in the economy influences spending and saving patterns by the individuals and organizations (Joyce, et.al.

15 Appendix 2: U.S. Profits, Federal Income Taxes & Tax Breaks for Ten Major American Companies (Citizen for Tax Justice, 2002). 16 Appendix 3: Relation between Income Tax changes for the top 5% and Job Creation (Tyson and Zidar, 2012) 18 1. Introduction United States (US) every year provides $125 billion in corporate welfare to big profitable corporate entities through subsidies, tax breaks and other aids (Sanders, 2013).

Economists’ way of approaching this problem would be trying to establish costs brought about by alcoholism. The second approach would be trying to understand all costs involved into alcohol consumption. This is because alcoholism costs cannot be measured directly since a dollar cannot be easily placed on any loss of production.

To me, boarding school was like a confinement which could not allow me to do most of what I found interesting. But having talked the issue out with my father, I joined a boarding school and focused on excelling academically, which was the reason that got my father send me to a boarding school.

The report says that the Reserve Bank of India (RBI) has reduced interest rates in the country from 7.50 percent to 7.25 percent with the aim of introducing fresh waves of economic growth in the economy in the face of sluggish economic growth. It is also reported that the RBI cannot freely embark on such expansionary measure since inflation rate in the country is not at a safely low standard.

For instance, the journal updates the readers on the current economic matters and trending business, politics and its drama among others. This article provides a thoughtful discussion on the trending economic issues like inflation and house prices, entrepreneurship ups and downs, and unemployment.

In fact, as a consequence of the myriad controversies that surround the issue of minimum wages, many a state has established laws that set legal minimum wages for different groups of workers (Neumark & Adams 5). For example, in the U.S., the Fair Labor Act deals with minimum wage.

The looming debt is brought by increasing inflation, roaring house rates as well as renewed capital inflows. Unless China takes a calculated move towards her debt control, it may worsen her situation in the future because of the probable unfriendly consequences that may accompany their wrong decision. 

The United States has had to trade deficit with the South Korea, with the exemption of the 1995-1997 era. The US deficit increased from $6.3 billion to $19.8 billion in 2004, a record high. In the past two years, the United States trade discrepancy with South Korea has began to improve, decreasing to $16.1 billion during 2005 plus $13.4 during 2006.

The paper analyzes the arguments of the proponents of supply side economics in an attempt at discovering all the pros and cons of the theory. In the 1970s, supply side economics was developed in response to the Keynesian policy, which became ineffective. As it is shown, supply side economics is a viable model in today’s environment.

By being the first company to expand into a particular industry allows it to gain a higher level of customer loyalty and satisfaction as well as better brand recognition. In addition to that, the organization also has more time to develop its product or service according to the needs and requirements of its customer base (Markides and Sosa, 2013). 

This growth has been attributed to increased trade integration between countries which opt to come together to foster economic integration for their greater good. Growth in international trade is the result of both concerted efforts of reduced trade barriers and increasing technological developments (El-Agraa, 1981).

India has been measured to witness population explosion presently and therefore calls for the immediate requirement of putting a check on its population growth. It has been assessed in this regard that although China recorded the highest population but it has been competent enough to effectively check its population.

This essays analyses the progress of the EU by observing actual integration and the changes, taking place in the economic and political structure. The EU’s political and economic structure, made up of the three primary economic segments^ services, industry, and agriculture, is shaped by market processes and controlled by national administrations.

Even though the economy of Bahrain lags behind its neighboring countries, its openness and multiplicity persists to provide substantial opportunities for business expansion. Bahrain has been thoroughly developing the industries of finance, transportation, and tourism, which, expectantly, will facilitate economic growth (Hassan 2007).

Taylor (2007, p. 285) specified that monopolistic competition “occurs in an industry with many firms in free entry; where the product of each firm is slightly differentiated from the product of the other firms.” In the Mankiw (2007, p. 341) perspective, market structure can be classified based on whether one, few, or many firms are in the market; if the market has many firms, market structure can be further identified based on whether differentiated or identical products are sold in the market.

“In these associations, a group of individuals, who typically live in the same community, gather for a series of meetings. At each meeting, each contributes a predetermined amount into a collective “pot” which is then given to one member. The latter is then excluded from receiving the pot in future meetings, while still being obliged to contribute.”(Anderson) It is an association of people who form a community where every individual contributes certain amount of money; the entire amount is thus collected into a pool.

In the forex market, the bank may purchase foreign currency using domestic currency to keep inflation and deflation in check (Basu, 2009; Topnews, 2011). This helps in valuing or devaluing a particular currency in case of need. To increase the value of a currency, the central bank will buy the currency and hold huge quantities of it in its reserves thereby reducing its supply in the market.

One of the major concepts of microeconomics is price elasticity of demand, which refers to sensitivity levels of demand for a given product or service to changes in its price. The elasticity of demand co-efficiency is the percentage change in the quantity of a product or frequency of a service in reference to percentage variation in price.

The company is involved in geological exploration, transportation, storage, processing and marketing of hydrocarbons as well as generation and marketing of heat and electric power. It was established in 1989. Gazprom Russian Joint Stock Company came up in 1993 under the guidance of USSR gas industry ministry.

Conceptually, the topic wants to put up the argument that the factors in the current economic crisis and the trend of its exposes the weaknesses associated with present day global macroeconomics practice. Taking a stand contrary to the topic would mean that a person believes that macroeconomics has been perfect, well utilized, correctly administered and that the current crisis is not as a result of the macroeconomics (Gabby, 2009).

Therefore, the implication of geography on the economic development can be used to explain why the rate of economic growth in Africa is relatively slow. Both the human and physical geography of African countries is unique and distinctive. Human geography within Africa has, for example, created political problems with the associated economic implications.

Dr. Mukund further elaborates that a change in the equilibrium of supply and demand of money often results to a drastic change in the balance between supply and demand of commodities. Within the same field of economics, the supplier and consumer are vital in the equilibrium of supply and demand of both money and commodities (Mahajan Mukund 23).

Rent Seeking 6 4. Lender of the Last Resort 8 5. Conclusion 9 6. References 11 1. Introduction A remodelling of the economic structure during the last century has ensued in substantial transformations in the social and political spheres. In the annals of history, the competition between socialist and capitalist economies will remain as one of the most imperative events that occurred in the twentieth century.

Conclusion and Recommendations 8 References 9 Appendix 11 1. Introduction The performance of industries in the global market is commonly based on their ability to keep their profitability at standard levels in the long term. In highly turbulent periods, like the current one, the ability of industries to support national economies is usually decreased.

Also, when deciding to walk, available free time must be considered since walking consumes more time. There are actually a lot of things that require knowledge on basic economics. One of which is the decision of buying a house. One has to take into account several pros and cons in order to come up with a better decision.

Economics as a study thrives to assess the various factors that affect the fiscal and monetary conditions of a nation or a given setting. In the course of this assessment and analysis, various factors are considered in light of their effects and implications on the economy.

At its core the article seek to understand some of the more complex dynamics behind the ways in which environment has a direct affect on how populations integrate with their surroundings and how these environmental conditions necessarily re-write the rules of how humanity integrates with key environmental changes affect the realities of daily life and settlement.

After China got its inclusion in the World Trade Organization its economy emerged as the engine of growth. This sudden emergence of the economy has been beneficial for some parts of the globe, although some countries had to make a few adjustments to deal with the rise in low skilled labor which was an immediate after-effect of it.

History explains the past views and events on politics, and political science gives the root to history to be created. This is to mean that they are related, and no one can exist without the other. This article covers an overview of the global economy as an international issue, and how it relates to international relations theory.