Macro & Microeconomics Essays

James argues that although technology has been beneficial, the payback left out most of unprivileged developing countries especially in sub-Saharan Africa. The author is undoubtedly able to rest down the special effects of information technology in facts and competently on the global economy.

While India has demonstrated swift and excellent development in its “offshore IT outsourcing and other service sectors” with institutional and language advantages, China has been successful in capturing the world’s attention with impressive growth in GDP and phenomenal inflow of FDI. Some more impacts are yet to be seen.

Coming from a background with hard academic excellence coupled with a solid experience of a working economy spanning from Kings College to Cambridge University [the heart of knowledge], right into the money control systems of the British Treasury, Keynes was an economist of real economics, recognizing so early in his life the need to convert theoretical prescriptions into politically relevant, workable plans able to assist an economy in need.

Economic conditions impact significantly the lives of people.  Human survival is still very much founded on economic trade and relations with limited natural resources prompting individuals to trade goods with each other.  Current economic conditions indicate that some individuals in some parts of the world do not have sufficient resources to support themselves.

The Gulf Cooperation Council is also known as the Cooperation Council for the Arab States of the Gulf (CCASG). It is They are often known as “The GCC States.” Some of the general objectives of GCC countries are as follows: promotion of scientific and technical progress in different industries like mining, agriculture, water, and animal resources.

 This signifies one thing; that is, in the banking sector, right from the executives to CEOs are involved in the corporate trough, yet are receiving a hefty bonus for their achievements and performance, which they were not ethically suitable for. The compensation that includes bonus multiplied massively with an augmenting designation in banks. 

Economic ties between Russia and the United States are important since they provide stability to the broad bilateral relationships between the two countries. It is evident that the current trade and investment levels of Russia and the United States are low, although there are chances to improve the country's status quo.

Moreover, it is in order that the property rights owner is accorded the privilege to transfer the property rights to the highest bidder. The failure by the economic systems to assign property rights to resources gives rise to externality (Stern, 2006). The lack of clearly defined property rights means that externalities cause market failure and hence by allocating property rights to the use of natural resources, regardless of who holds these rights, will protect these resources better than government intervention.

The economic growth of China was never affected and its GDP never sunk below 6 percent. However, some countries including Australia was worst affected especially in its first quarter where it registered no growth. Additionally, economies including Mexico, the United Kingdom, and Japan were adversely affected by their annualized GDP.

Most of the American population is employed by small and medium enterprises, which means that these enterprises support the majority of American households. The government should recognize the critical role that small businesses play within the economy and help them by providing the most conducive environment so that they may succeed.

Macro and Micro Economics. The subject matter of Economics is on explaining the world. That is, ways people behave, way in which most markets work and the way governments work in relation to the administration of scarce resources. The subject matter of Economics can also be said to be around production and distribution of output.

The measures used by governments worldwide to secure the performance of the national economy are not standardized. Usually, these measures are chosen on the economic and social characteristics of the local market but also the needs of the economy in terms of financing. Tariffs and quotas are common measures for improving market efficiency. The effectiveness of these measures is not guaranteed.

Several economies in the world have successfully managed to pull through despite radical mitigations in the number of resources availed by the government. Using Keynesian analysis, a reduction in government spending triggers a very vibrant private sector growth that contributes immensely to the economy of the UK.

The study will address low-income county residents profile and issues they face during food procurement, the causes and impacts of food sufficiency and insufficiency and lastly best policy recommendations based on the two issues. The findings of the study proved that 6.1% of the household are at a risk of hunger.

The financial crisis of 2007-08, not only led to the collapse of several banks and financial institutions but turned down the stock markets in most countries. There are several specific reasons for the financial crisis which are discussed below in detail. Subprime involves the credit status of the borrowers of subprime loans.

The 21st-century earnings inequality often characterized by the ever-widening gap in income between the haves and the have-nots has been a hot topic for scholars over the past decade. Of particular importance in the entire analysis has been the effect of the statutory minimum wages on the dwindling prospects of employment growth and the subsequent poverty statistics.

This era of globalization has lead to countries coming closer to each other, this has happened in all aspects including trade. International trade is the exchange of goods or services between economies. It is calculated in the current account of the balance of payment of the economy.

According to the paper, China previously used conservative practices in trade spheres by raising level of tariff rates and granting subsidies to the domestic enterprises. From the 1990s the government started to develop the potential of foreign trade activities. Ascension to the WTO helped the Chinese companies to increase its volume of exports.

The weak form suggests the idea that current prices have great influence of the past record of prices. In the form, the prices of securities are easily available to public representing the flimsy phenomenon therefore its name is weak form. It is natural that if majority of people were aware of a beneficial secret then ultimately very few on no one would be able to take advantage from it fully.

Free Trade Zone is not a novel conception. It is in any case as old as civilizations of the West, having subsisted in 300 BC in the Delos a Greek island, which thus turned into one of the richest islands on the planet for almost a century. It is projected that there are currently well over 1000 Free Zones in use, in about 120 nations (UAE Government, 2008).

The absolutely direct relationship any way produces doubts into the minds of the managers and they really think of the variables that affect in terms of an inverse relationship of the two variables, i.e. there must be something that if increases, will be lowering the wages of the workers, and which must be a direct part of the function given above.

Provide a critical update on current scenario, Kyoto Protocol, Denmark (Dec 2009). Comparison with other nations is recommended. Market Efficiency In The Presence of Externalities Analysis of the general equilibrium with respect to perfect competitive markets has for along time played a critical role in determining what happens within a given market economy.

The success of the product and the company depend on both the macroeconomic and microeconomic factors that influence the sale of the product. Apple's success is dependent on the IPhone’s demand and supply, which affects the sales and profitability of the company. Apple operates in a perfect competition market but it has chances of creating a monopoly through technological advancement.

South Africa is among the nations whose policies have changed drastically in the past ten years. Among the policies of this country, the ones that have experienced great changes are fiscal policy and monetary policy. According to Kashalala (2006), fiscal policies are actions and strategies designed by a country to foster economic growth.

How would you characterize the Q3 2008-Q2 2012 period? How do the GDP growth rates compare to the long-run trend for the US economy? According to the numbers, what phase of the business cycle is the US economy currently in? Do you observe any important changes in the individual components of GDP? The expenditure approach entails four components.

131 – 178. This article acknowledges the existing body of knowledge, which postulates that with increased quality consumption increases. In this study, the authors address players in regulated industries, which include public utilities, education and healthcare with regard to this postulation.

The brand is commonly used for lavishness trucks, buses, automobiles and coaches. Mercedes-Benz has its headquarters in Stuttgart, Baden-Wurttemberg in Germany. The firm is highly regarded as one of the top automobile brands in the world, which is widely marketed all over the world.

 Corruption is an abuse of office by a public official for private gains. It is a deeply rooted vice that involves embezzlement, bribery, and nepotism. In the world, corruption is widely spread in developing countries due to social and economic problems. However, governments struggle to combat it in order to improve their economies.

The primary objective of every business is to maximize profitability and for the purpose business are required to consider the wide range of factors directly or indirectly related business and hence have an impact on business. Businesses are reaching maximum profitability while being economically efficient. 

Demand tends to be elastic when there is availability of good substitutes and a sizable element of the item in the consumers’ budget. On the other hand, demand tends to be inelastic when there is availability of poor substitutes. Generally, a product’s price elasticity increases as the consumers get more time to adjust to the change in the product price (Gwartney, Macpherson, Sobel, and Stroup, 2009).

This includes breaking the barriers that have made it hard for women to get good jobs in the workforce. Promote equality of treatment of both genders including equal pay at the workplace. There is also a need to encourage education for women as this would make it possible for them to get greater jobs.

In economics, externalities are costs or benefits that result from transactions or activities, and that affects an uninvolved party whose choice was not to incur any particular costs or benefits. These externalities can either be positive or negative.

The calculations for the changes in Total Variable Cost (TVC), Average Variable Cost (AVC), Worker’s productivity and Average Total Cost (ATC) along with the losses incurred, in cases A and B have been illustrated below. Fig. 1: Losses to be incurred in Case A Fig.

Earlier attempts by nations to remedy the situation saw some countries curtail citizen’s freedoms to foreign trade and devalued their currency. However, this only served as self-defeating strategies since none of the countries held their competitive nature for long leading to a sharp decline in international trade.

As a matter of fact, the use of this assumption is meant to abridge or rather offer basis for development of a hypothesis that the proposed relationship will fail to hold. It disputes the existence of a relationship between the proposed variables (Good & Hardin, 2009).

The criteria that a particular society uses to answer these aspects shape the society’s nature and influence the best answers to these questions. There are several approaches used to manage the economic activities of people living in a society.  Whatever approach is used, it is necessary to integrate or incorporate the behavior of all members of society.

In the diagram above, we consider the effect of a fall in APE. The immediate response from businesses is to wait to see if the APE returns to its initial height. When it does not, the output-price adjustment process is initiated which leads to falling prices, output until the equality between GDP, ASF and APE is restored.

It provides the same level of output of good X as point “a” since we still are on the same X isoquant, but the production of Y has increased since now we are on a higher Y isoquant. Similarly, we could have picked a point on the Y isoquant through point “a” which is tangent to a higher X isoquant. This would imply a higher production of good X.

The Federal Reserve Act of 1913 empowers the Federal Reserve Bank of U.S.A to implement the Monetary Policy in the country. The Federal Reserve controls the monetary policy through mainly three policy instruments: open market operations, the discount rate and reserve requirements.

This research aims to evaluate and present Mundell-Fleming model and open economy particularly in the case of Brunei and Bhutan. Brunei and Bhutan had difference exchange rate policies as they resolved to join the global financial market. While Brunei anchored its financial regime on the principles of fixed exchange rate, Bhutan had a regulated flexible system of exchange rate.

The researcher will analyse the dependence of economic growth in GDP-Gross Domestic Product-, international trade, years of schooling, the average of annual number of revolutions and insurrections, the average of annual number of political assassinations and finally if the country has oil production and it represents at least half of the annual exports.

That is, how does hyperinflation come to an end? This question can only be answered in terms of a given government’s commitment to reduce the level of money supply in the economy. Maybe by the disposal of government bonds to the members of the general public so that the money used to buy these bonds is removed from the economy and held by the Federal Reserve. 

Due to symmetrical disturbance and free mobility of production factors the exchange rates remain stable and promote the use of common currency (Krugman and Obsrfeld, p98). It implies that any economic unit could be regard as an optimum currency area if the labour and other factors of production move freely within its region and there is either use of common currency between the regions or the exchange rate remains minimal or unchanged for long periods of time (McKinnon, p173).

The economic crisis in Greece can be seen to impact the country with respect to its position in the European Union where the adoption of the euro as a common currency has taken place. The budget deficits impacted by the huge amounts of loan and credits obtained by the country has created a greater economic crisis for the country.

Most interesting was the fact that it promoted excludability as the goods purchased by one consumer becomes consumer’s exclusive item which cannot be consumed by others, even if the consumer does not use it.

A consumer never demands a good or service simply because a supplier produces them. More specifically, there is no incentive for a consumer to demand goods or services simply because a producer supplies them, but there is an incentive for a producer to supply goods or services simply because a consumer demands them. This is the fundamental concept of the Supply and Demand Paradox.

  Liberia has previously faced over 25 years of civil unrest and economic mismanagement. Over 270,000 of the population were killed, and over 500,000 were forced to flee their homes as either internally displaced persons or refugees in neighboring countries. This resulted in a drastic drop in agricultural production and the eventual closure of the agricultural-oriented industries.

The perfect economy offers choices that are price-influenced. Question 1. The monopoly market structure is defined as a business environment where the industry and the sole entity are one and the same. In the 2008 Northwest’s monopoly style potato chip industry, there is no substitute for the lone Wongs potato chip products sold in the potato chip market segment.

Inflation and its Causes Inflation has been one of the major subjects that have been addressed in the economic world and in order to properly understand it, one has to delve into all the aspects that are related to it. The paper will also look into the effects that inflation has on the economy and by extent the society as a result as it attempts to discover ways in which this situation brings about a difference in the way individuals live their lives.

Google was charged with antitrust and anti-competition statutes as they were thought to arrange their search results in a way that brings their own products and links above others. Since more than 70% of search on internet is carried out on Google and many businesses depend on online advertising, several giant companies feared they will not show up in search results because Google tends to advertise its own products and hence is giving an unequal opportunity for competition.