Macro & Microeconomics Essays

It has been encountered that the United Kingdom is constantly suffering from increased unemployment are the major reason for this unemployment is the financial crisis of 2008 that are known world financial crisis as well. The major aim of this paper is to describe the overall impact of the financial crisis on the unemployment of the United Kingdom and for this purpose three models of macroeconomics have been utilized.

As the paper stresses in the field of economics, transaction costs also known as frictional costs, regard the overall expenditure/ expenses incurred by firm-entities or enterprises during an economic exchange of goods and services. It is hence incurred as a direct result in overcoming prevailing market imperfections. 

To achieve these objectives, it uses various countries to illustrate the ideas, explains and analyzes economic theories both from the neo-classical and classical concepts and employs statistical

In a competitive market like where the local taxi operates, a single taxi firm has very little choice in what to charge their customers per trip. If they are busy and making more there is no reason to charge customers lower, but if it raises its fare, the local tax firm will have almost no customers. This happens because there are many substitute services.

Thorstein Bunde Veblen was born on 30th July, 1857. He was the fourth out of 12 children in the Veblen family. Veblen began his study at the age of 5 years. Veblen completed his graduation in the year 1884 and remained unemployed for seven years. He was also known as an economist as well as a socialist of America besides being recognized as the leader of the “Institutional Economics Movement”.

The circular economy describes a particular form of the industrial economy with two main types of flow of materials - technical nutrients and the biological nutrients. The main principle of the circular economy is to develop a type of industrial economy that is by intention or by design, safe towards the biosphere and is restorative in nature.

The idea of choice architects and choice architecture was the first one to be introduced in the book. Choice architects have the responsibility for the contexts in which individuals makes their decisions. Good examples of choice architects are the graduates’ admission

Herbert Hoover once remarked that the problem with capitalism is the capitalists. This is proven time immemorial including with what is happening today. The mass was appalled as an inquiry on the indiscreet expenditure of executives granted by the bailout was conducted. This problem of avarice among them may be contagious. 

This essay focuses on assessment of the amount of the economic losses, that East Asian countries incurred, as a consequence of the financial crisis. It is argued, that just after the crisis, most developed countries suffered setbacks while East Asian countries, escaped without damages. That escape from the crisis is deemed temporary one by experts.

Undergraduate economics major students are able to improve their analytical and decision making skills and in this way they become so prepared to take up the top positions. This research identifies the relationship between the labor market or the employment level

It is essential to state that there are several differences between flexible and fixed exchange rates. For example, in flexible exchange rate administration, the governments locate their money supplies and allow the exchange rates liberally adjust according to the ensuing ratio of the two money supplies.

The importance of these two policies has been a great debate between the monetarists and the Keynesians. In view of monetarists, monetary policy has greater influence on economic growth,

The business cycle can be defined as fluctuations in economic activity, and it has four stages: expansion, peak, contraction or recession and trough. There are numerous theories that consider different perspectives of business cycles, but this paper will address only the basic issues related to this topic.

This act ensures cost efficiency and employment are preserved. Unless American companies can provide cheap products, foreign goods are allowed under section 1605, subsection (b)(3). Thus, this act ensures

The Fed tightens or eases its financial conditions by raising or lowering short-term interest rates. The Fed’s ability to pay interest on bank reserves helps in putting upward pressure on market interest

Discrimination on various fronts has been a hot debate in the US since the end of the slave trade and in the years following the subsequent passage of the law abolishing the slave trade. Despite the progress made in ensuring equity among all races in the US, substantial gaps remain in the market wages of African-American males and females compared to those of white males and females.

It stands to be the richest country in Africa with potential of producing 25% of the continent goods and services. This country also deals with export of other valuable raw materials like copper, diamonds and coal. The country has well established a plant which

Since the start of the recessionary period of 2008, the US has been trying to recover from several macroeconomic issues. Towards the end of March 2012, the unemployment rate of the US stood at 8.2%, although the US successfully created over 120k jobs in a time period of 7 months it is still below the targeted increase in employment rate which is set at 200k which will help the US solve its unemployment problem.

Based on its large population, Nigeria accounts for approximately 18% of the African population. 52% of the population resides in rural areas while the rest 48% are in urban areas. As a result of high fertility rates and increased population growth rates, Nigeria has experienced a high population in the last 60 years.

These principles include short-run, medium-run and long-run. Balance sheet recession is characterized by two phases. In the first phase, companies aim at improving their profit while people absorb much of their pay increment. In the other phase, economic agents give much

The definition has the assumption that the null hypothesis is correct.  An investigator will regularly do away with the null hypothesis in case the p-value will turn to be less than the normal significant level that is normally 0.05 or 0.01. Such an outcome will indicate that the observed outcome would be highly unlikely under the null hypothesis. 

The economy faced a downfall that hugely impacted the country. Though the country was able to rise from this situation ten years later, the economic growth remained generally stagnant. Proper analysis of the state of the economy of Japan before the fall reveals that it experienced extraordinary investment growth coupled with an asset price bubble.

PoolVac, Inc. manufactures and sells a single product called the “Sting Ray,” which is a patent-protected automatic cleaning device for swimming pools. PoolVac’s Sting Ray faces its closest competitor, Howard Industries, also selling a competing pool cleaner. Using the last 26 quarters of production and cost data, PoolVac wishes to estimate its average variable costs using the following quadratic specification: AVC = a + bQ+ cQ2.

The firms must be producing similar products, and selling them in the same market and they are deemed to have had a competitive relationship before forming this merger (Layne 54). A conglomerate merger takes place when two or more business firms that produce less related products join. Some of the products produced by the joined firms could be similar while others could be virtually different.

Tata should expand on its cost leadership strategies. This is possible to achieve through following efficient manufacturing strategies that concentrate on the effective utilization of the resources available. To counter the threat of diverging market, Tata Motors should adapt to the changing regional and segment patterns of both supply and demand patterns.

Owing to the costs incurred, the agent might begin to pursue his own agenda and ignore the best interest of the principle, thereby causing the principal agent problem to occur.” (Anonymous, 2014) Ordinarily, contractors will have an obligation to do the work on

Hiring people and retaining them are two different things. No matter what, these are always both taken into account in the decision-making process by those in the field of capital human management. Business without people is nothing. People are the most important investment in the world of entrepreneurs. Coles is a part of it – a big part, indeed.

In the market economy, there is no government intervention and it is also known as the free market system. The market system is said to be a very just system where everyone gets what he or she deserves and there is no government control on prices. There are reasons why this system is considered the best mechanism of allocating scarce resources.

A capitalist can earn more profits if the wages paid are low for any reason. One of the reasons for low wages could be increase in the price of raw materials such as steel due to a law passed by the government. Hypothetically, if the government

A series of positive supporting events and moves defined the recovery progress by Europe from the all-time laws occasioned by the horror of WWII. The first move to recovery was represented by international cooperation immediately after WWII, followed by standardization of international payment introduced much-needed stability.

The human-induced changes like greenhouse gases release carbon dioxide and water vapor which trap heat within the atmosphere yielding the greenhouse effect. There are various effects of climatic change, and research is still in progress to determine the extent of occurrence of climatic change and the potential impacts.

It is always measured as a percentage. Elasticity of sales in this case is 0.8 which means that 100% increase in population increases sales by 80%. ii—Keeping mind the elasticity of tickets sales with respect to the size

The U.S. is one of the most efficient and prosperous economies in the world. The country is considered to be a developed nation and its economic system goes through massive commercial activities. With the growth of the domestic economic system, the U.S. economy experienced a large amount of growth in its automobile industry.

We used data from UK since previous research has shown that they are the most commonly used data set to test for Purchasing Power Parity (PPP). Before conducting any serious analysis we ran some basic statistics. The table below gives a summary of the

This report is using dataset names. data derived from the renowned Professor Marianne Bertrand and Sendhil Mullainathan's paper in 2004. Professor Bertrand at the time taught at the University of Chicago. Their paper’s headline was “Are Emily and Greg More Employable than Lakisha and Jamal? A Field Experiment on Labor Market Discrimination.”

Generally speaking, the monetary policy advised by the World Bank is the most effective given the fact it gives into account the needs of local and international investors. Investors, in this case, focus on models that ensure they maximize their output by concentrating on the market supply of skilled labor.

Two years after the enactment, the Japan-Mexico EPA had some positive impacts on trade and investment that reflects the zero-tariff import quota for import of Japanese cars by Mexico (Wang, 2004). However, the satisfactory impact of the tariff reduction was very limited and it covered a small number of agricultural products at a time.

The study involves comparison of the case of Alaska with Saudi Arabia. The Alaskan government controls revenue from oil on behalf of the citizens and pay dividend to the citizens while they collect tax revenue from the citizens for provision of social welfare. However, Saudi Arabian Government does not collect any tax or pay dividends to the citizens.

The compensation structures devised by the government to resolve the crisis would be advantageous under a short-term basis only. In a long-term view, it is having many risks involved. The financial markets are still in the danger of collapse. The Federal Reserve is anticipating a reduction in the flow of credit to businesses as well as other household consumers.

Sarbanes-Oxley only pertains to disclosure requirements for directors and chief executives under US security regulations. However, with some exceptions, it ignores the broader obligations of the corporate directors or officers to their corporations or standards applicable to the performance of the companies (Nelson, 2008)

It is really quite significant to state that there is no doubt that provisions of free trade have reduced the cost of production and increased the profitability of world production. The improvement of technology has also helped the companies to capture new market besides maintaining the existing market.

The basic economic principles and models of the aggregate demand curve and aggregate supply curve have been considered as the major discussion for the term paper. The term paper addresses the meaning of macroeconomics and the importance of understanding the performance of the economy in relation to the key economic factors.

With the current advancement in technology, many firms, notably the SMEs have taken a lead in contributing significantly to the economies of these countries, through innovating novel products, services, and ideas, which effectively enables them to compete with larger firms and even multinationals for the available markets, both locally and abroad.

To illustrate this hypothesis, he makes a distinction between single proprietary businesses and corporate. He further uses the concept that executives, who take the spending decisions in corporate entities, have no social responsibilities other than on a

Additionally, the website businesses competing with Google have raised concern over their unfair treatment in search rankings. More to this, is the fact that the impact

Over the last decade, China has exceeded the Gini coefficient index threshold by 0.4 close to the warning level given by the United Nations. This article analyzes the extent of the income disparity in China between the rich and the poor, it cause and effect and the plausible solutions to this problem.

Governments have increasingly tried to control Economic action through their policies, which include taxation, formation of minimum wage rates, and even using military force to conquer and rule markets – as in the case of the once Glorious British Empire and its commercial wing – The East India Company. (Landow).

Gas and oil prices are an important aspect of the economy that everyone keeps their eyes on. This is attributed to the fact that they affect the financial situation of everybody. Gas and oil prices have a negative effect on the economy because they have the power to control the consumer’s spending as well as force retailers to increase prices making consumers spend more (“What Affects Fuel Pricing”).

The Radical Economic Perspective (RAD) is usually attributed to the U.S social reality that occurred in the 1960s. This focused on racial discrimination, poverty, the developing power of the federal government and its relationship with the military

Understanding health economics aids in ensuring that a balance exists between patient outcomes, and the efficient utilization of available resources.