Macro & Microeconomics Essays

From a rather deprived state, Eastern Asia now houses what has come to be known as the Four Asian Giants. Together with other nations in the region, Eastern Asia has grown to be a force to reckon with in terms of economic growth and development. During the pre-1960s, the region and its States were regarded as an underdeveloped region.

Generally, Guam is a small island in West Pacific and draws most of its income from tourism and US government spending on its defense and construction sectors. On account of its vicinity to Japan in terms of distance as well as cultural aspects, Guam receives around 80-85 percent of tourists from the former.

The resources are utilized in an effective manner which avoids residual and adds to economic prosperity. It is felt that monopolies can increase prices without any resistance but the fact is that they have an elastic demand curve and abnormal increases in prices can lead to reduced profits. This is why the monopoly is not the best market structure.

Through statistical data were taken recently, the Government Accountability Office estimates that Brownfield’s sites range from four hundred and fifty thousand to one million in the United States of America. Brownfield’s are sites or locations that are perceived to be contaminated or hazardous. They are idled abandoned properties.

Aon Corporation is the global leader in the provision of services such as reinsurance brokerage, risk management services, consulting, and outsourcing of human resources. It has more than 59,000 sub-branches globally that help it deliver innovative and effective services to its clientele in terms of risk management and productive workforce solutions.

 . Qatar Petroleum is accountable for all gas and oil business processes, entailing drilling and exploration for hydrocarbon, natural gas, oil, together with for transport, production, trading, refining, distribution, storage, export and sale of such things and of any of their byproducts plus derivatives.

It is believed by the analysts in Germany that the primary cause for the Euro crisis is its sticky or rigid policies for all the nations in the EMU. It is believed by them that if ECB does not abolish the views of Bundesbank wisdom while framing its monetary policies, it is difficult to get over with the contemporary Euro crisis (Woodford, 2003).

It also draws on costs in case the company continues in the foreign market and finally its financial implications on the stakeholders. AutoEdge is a supplier of engineers and transmission parts in the USA which has in the recent past shifted its production to the South Korean market for the cost advantage.

The author states that digital signal processing (DSP) is duly considered to be an arithmetical treatment of an information signal, which tends to alter or enhance it in certain specific ways. It is usually characterized by way of representation of discrete frequency, discrete-time or any other discrete domain signals with the help of a sequence of symbols.

Risk aversion depends upon an individual’s relative preference for a certain income over a fair gamble entailing an expected income of the same value as the certain income. An individual is identified as being “risk averse” the certain income is preferred over a fair gamble with an expected income equal to the certain income.

According to the Keynesian theory in times of recession, the income (Y) and employment of people remain low. Therefore the consumption and investment of the private sector, which depends on disposable income, remains low.  Demand for goods remains low. As a result, the income cannot grow and remains at a low level of equilibrium.

Firms that are already well established in the global market have an additional problem to solve: the continuous entrance into the market of new firms; this fact would not threaten a global corporation. Still, this trend could weaken the customer base of the organization – under the terms that the firm’s customers could be attracted.

In the United States, the government of America has documentation of what constitutes high-speed rail. The Department of Transports (DOT) and the Federal Railroad Administration (FRA) defines high-speed rail as a service which is time-competitive with air transport within the transport sector with an approximate speed of 100-500 miles per hour.

The economy of the United States is often described as capitalist where the power lies to a small group of the population. They are authorized to take all the important economic decisions and control the capital flows (Conte, n.d.). The largest national economy in Europe is Germany.

4 In your analysis, what role do fiscal and monetary policies have to lead to higher or lower budget deficits? 5 How do budget deficits affect overall long-term economic growth and the debt that the U.S. has to contend with? 5 Restatement of the thesis 6 Conclusion 7 References 8 Introduction There is a correlation between the federal budget and economy.

Most common barriers to entry include exclusive rights, and economies of scale where exclusive rights comprises legally granted property rights to produce or distribute products or services and economies of scale is the ability of a firm to produce in large scale therefore driving competition from the market.

A European debt crisis buffeted European nations, also impacted the other side of Atlantic. Fiscal policy failure owing to its weak basis, level of sovereign debt, lack of competitiveness arising out of higher labor cost and an inherent balance of payment crisis that was eroding the economic soundness of the EU to long are some of the reasons.

Opportunistic and partisan models were the initial models but after their failure and with the emergence of rational expectation doctrine they developed being modified as a rational opportunistic model and rational partisan model. The opportunistic model assumes that the ruling political party designs economic policies and manipulates agents’ opinions to win upcoming elections.

A closed economy sustains itself and the major players include households, firms, government as well as market factors. A good example of a closed economy is where a country does not deal with other foreign economies. The outer flow in the closed economy is one way.

In the study of economics, it has been stated that the most important economic problem of any country in the current world is the problem of ‘choice and scarcity.’ At this juncture, when the population level of mankind is growing at an increasing rate, the resources available for the production of various goods and services are limited.

The CPI is a statistical average, it may sometimes not reflect the actual expenditure of individuals or families especially those whose pattern of expenditure differs significantly from the cumulative average urban consumption (Strawser and Ryan, 2012). For this reason, the CPI may not be practical in obtaining transactions of all customers in the United States.

The author states that the telecom equipment of China is characterized by the strong competition between foreign firms, between foreign and domestic companies, and between the domestic firms themselves. The leaders in global producers of telecom equipment are involved in the market of Chinese.

This essay focuses on the relative efficiency of the monopolistic competition, certain key characteristics of that type of market, its advantages to producers and customers. It is argued, that the firms operating in monopolistic competition can benefit greatly and reap benefits that it offers, but the customers do not benefit from it necessarily.

The rational choice of trying to minimize losses led to rapidly falling investments, and asset prices, and these in turn got reflected in the reduced profitability of the various companies. The workforce of various companies had to be cut down and rising unemployment created another layer of rapidly declining aggregate demand.

One of the most important aspects of the modern business world is risk management. In accordance with recent researches and studies, risk management should be developed with regards to the needs of employees and managers of the company. In case self-performance and knowledge sharing exists within the company, it would benefit for further development of the company.

Resources are very significant from the human perspective. This is because economically speaking, the resources make it possible for man to achieve his goals and make available the benefits that have come about. The Christians should behave much like other people who are from varied religions.

The researcher states that the most common description as crafted by Alfred Marshall is the percentage change of the quantity of a product demanded in response to a one percent change in the price of the product with all other factors remaining constant. When the change in demand is relatively unaffected (where the PED is less than 1), the goods sold are considered to be inelastic.

Wonk, a company in the Northwest, has bought up constituents of the potato chip market and has conglomerated them into one unit. The group of companies prior to the merger was individual competitors in a market dealing with the same products. However, after being bought by two lawyers, the environment is bound to change as the competitive market changes in structure.

The Neoclassical economic school of thought has always been subjected under deep examination and scrutiny in the hands of several prominent economists. Among these critics are economists Israel Kirzner and Marc Lavoie, who are the major proponents of the Austrian and the Post-Keynesian alternative approaches, respectively.

Apart from many economic factors, one can say that non-economic forces also exist in the person’s decision of making a purchase. These factors in combination with economic factors tend to have an impact on consumers when a decision relating to a measure purchase is made.

Whereas excess supply lead to price cuts, excess demand lead to price going up to reduce the demand achieving an equilibrium point where demand is equal to supply. At this point, the aggregate demand for goods and services is equal to aggregate supply for goods and services.

They are structural unemployment, frictional unemployment and cyclical or seasonal unemployment. Structural unemployment arises out of the change in demand of technology and taste in the industry. For instance, the typewriter industry has no demand now because of the emergence of computers.

The Gross domestic product refers to the market value of all formally accepted final goods and services manufactured in a nation over a given period. The GDP per capita is considered as a pointer to a nation’s standard of living. The GDP should not be bemused with the Gross national product, which means the allocation of production on ownership.

The Chinese retail industry has a very bright future of growth ahead. However, it does face a number of challenges. Fragmentation is a challenge in China’s retail industry. Consolidation should be a top priority for China if they want to enjoy the economies of scale or be efficient. The Chinese retail market is however very fragmented. 

Vietnam has faced constant invasion by outsiders. The Vietnam War is usually regarded as one of the most significant battles of the twentieth century. The conflict was significant gauging it by not only the numbers of casualties and geographical spread, but by the impact, it had on the rest of the world and especially the United States.

Over the last 20 years, the Chinese economy has witnessed tremendous growth. Numerically there has been even faster growth in international tourism sector. The data from SAM matrix, were used in creating the type II input-output model that enables to approximate the “direct, indirect and the induced” effect of international tourism on the economy.

Characteristic of the capitalist economic system is the adherence of to the principles of free trade. It is through free trade that states reduce if not abolish all restrictions on capital and commodity exchange. Traders from different countries no longer have to deal with the obstacles that are usually established by governments meant to discourage the entry of too many imported products and capital.

Government debt refers to the amount of money owed by the government to individuals. The government debt includes the total amount owed by various branches of the government ranging from the municipalities and states to the federal government. Government debt can be classified into two categories namely internal and external.

This means that the total demand and supply for labor is at equilibrium. In the labor market workers will always flow in and out in search of better jobs. In the process, of finding such jobs those involved will become employed. Indeed, an economy will most likely be unable to escape the impacts of natural rate of unemployment because labor prices rise earlier before the economy achieve zero rate of unemployment.

Adam Smith argued that the major cause of economic growth was a division of labour. According to him, in order for markets to expand, they did not need government intervention but expansion of markets depended highly on division of labour. Although, he was against government intervention, he was not against all government involvement in the economy.

In recent times some ideas have become redundant and politically incorrect. Most incoming students in the universities stand in long queue to get admission into the universities for the courses that have been closed for hours before they arrived.

Theoretically, the Federal Reserve Banks influence the supply and demand for money supply with the intention to maintain maximum employment and economic stability, facilitate the government’s effort to achieve steady growth in terms of Gross Domestic Product (GDP), and control inflation or price increases of prime commodities.

The worldwide crisis in the U.S financial markets and also the sluggish growth rates in the emerging markets like China are slowing down the trade. This has become a hindrance to the global economy; thus the baby booming generations have become highly concerned about the retirement income security.

The establishment of successful unions of states requires the adoption of policies that can secure these unions’ integration. Monetary union is one of these policies, as the example of USA reveals. However, before such plan is launched it is necessary to check whether the achievement of such integration is feasible.

There are a number of economies all over the world which are showing an advantage in specialized products. U.S. and Japan have gained a technology advantage whereas countries like Jamaica, Mexico and South Korea represent an advantage in terms of lower labor costs.

The authors Yergin and Stanislaw presented a different perspective on the various concepts in the market through their own definition of terms such as globalization etc.  Globalization is perceived as the periods of domination of free markets and is positive based on the effect it can bring about to the standard of living of the people.

The ability of each department to perform its role brings forward specific actions that at some point may hinder other departments or the entire organization to perform what is essential. However, the issue of what is essential for the organization is what makes it more complex for each department to perform its tasks.

According to the paper Improving the efficiency of the workers would require lesser number of workers to complete a job in comparison to the situation when the workers’ skills were not upgraded. The money saved by employing lesser number of workers can be utilized to make the payments for the technological and skill up gradation.

National development strategies in encouragement of trade are visualized as a critical dimension in the international economic arena (Abbott 276). Nevertheless, trade is only a single element of measures that dictates growth and development projections. Several factors are conditional in realization of trade benefits through liberalization.

The impact of business cycles is similar to economic growth. In fact, business cycles represent the overall picture of the economy. In a period of boom, the economy is growing and as a result, all the businesses end up doing well. When there is a recession or trough all businesses take a hit on their profitability. Big Mac’s demand would be higher in booms and would decline in recession.