Macro & Microeconomics Essays

Name Course Instructor Date Objectivism and Collectivism It is within man’s nature to think and reason and thus one of the main topics that have been discussed in philosophy consists of the question which is the best way to live the life that an individual has.

Adam Smith’s economic theories According to some classical economists the most important economic factors are capital accumulation and growth, and this concept has originated from Adam Smith’s Nature and Causes of the Wealth of Nations. In his book, Smith has argued that it is the interaction between various economic forces that is responsible for the dynamic progress of economic system in a nation.

This growth in the economy was observed after a flat performance over the last 18 months. The marginal growth has been due to the progress in the services sector than contributions from the manufacturing industry. This was positive news but the policymakers have struggled to register even a modest pace of progress of the country’s economy.

However, as time went by, the philosophy underwent a radical change and took a new course that was different from the parent one. The radical change has brought the understanding of the most important roles that are to be played by the federal government, which include the role of regulating and stabilizing the economy of the country.

This paper identifies the unique properties of each of the markets and makes a conclusion on the two most viable for any investor seeking to undertake massive business expansion to an emerging market.

 It depends on their use. Looking at a poor third world country makes it quite clear that they are in dire need of assistance in terms economic assistance. And what better way to elevate financials by employing them. 

The state of the domestic economy has always been topmost in the minds of American citizens. It will perhaps be one of the most defining issues that will determine the winner of next year's presidential elections as well. People are understandably worried about the economy as it impact on them directly, perhaps more significantly than other concerns such as a global anti-terror war.

 The Financial Crisis 2007-10 brought the world economy to its knees and those considered ‘too big to fail’ corporations either collapsed or seek bailouts from the regulators. But this crisis brought forward the weaknesses in the US financial system and called for major financial reforms so as to end the severe recession. 

Generally, Marie Jean Antoine Nicholas de Caritat is a French philosopher and mathematician born on 17 September 1743 in Ribemont, France. His title Marquis de Condorcet was derived from Condorcet town in Dauphine. He is said to be an early protégé mathematician who studied under Jean Le Rond d’Alembert. 

The Possible Contributors to the Great Recession in relation with Mortgage Lending Practices The global economy of the world is well-aware of the Great Recession of 2009 which was one of the massive declines in the history of economic recessions. It initiated at the start of the year 2007, prevailing severely through the year 2007 and affecting the economies of Europe along with other continents by the end of the year 2009.

The basic oil supplying nations of the world come within the group called OPEC (Organization of the Petroleum Exporting Countries). The most important oil-producing nation in the whole world is Saudi Arabia. It is the biggest oil-producing country in the world. In the year 2011, it has supplied 12.8% of global oil (Chakarova, 3).  

The aspects discussed in the three videos were not restricted to United States of America; were common worldwide. The three videos had common aspects and differences too. The paper therefore discusses the common aspects and differences found in the video.

Considerable differences were observable amid the performances of the four nations, viz. the US, the UK, Russian Federation, and China. Where independency was observed to be a common factor among the growth prospects of the four economies in the global structure, determinants of economic growth were reflected to be persisting.

The wants created by the individuals in the economy are always unlimited in nature but the resources available are scarce. It has been stated in the theories of economics that perfect competition among the corporate firms in the economy can maximize the welfare of society and suffice efficient resource allocation.

The New York Times and the Wall Street Journal are two of the most respected newspapers in the U. S., that reports on various activities in the nation. This print publications cover national and global economic events with a different style and approach. The normative statements in two newspapers on different subjects are identified and analyzed.

The initial equilibrium is represented by the intersection of demand and supply curves, which are marked as D and S, where the initial price is Pe and the initial quantity is Qe. The final equilibrium is represented by the intersection of the new demand and supply curves, D1 and S1, where quantity and prices have risen to Q1 and P1, respectively.

The graphs above show the changes in demand and supply as a result of the changes in the market. First, the reduced supply of soybeans. Soybean is an essential ingredient in the making of Vitamin E supplements and a reduction in the supply of it marks automatically the reduction in Vitamin E supplements.

The Birmingham council initiates a wide range of activities aiming to support effectively the needs of the residents. The economic development of Birmingham is examined in this paper; emphasis is given not only on the City’s current economic performance but also on its prospects for future growth.

Within this context of understanding, I recognize that recent shifts in the nature of the global economy have recently affected the Australian real estate market in a variety of contexts. Still, it’s clear from investigation that many of the structural elements remain in place; as such, this reports a broad overview, followed by recommendations, of the Sydney housing market.

The industrial revolution that began in Britain and spread to other parts of the world was a direct result of the country’s investment in colonies. Due to the increase in raw material and market for goods, industries began to shift their operations from manual labor to machine-driven production. Many technological developments were also experienced during the industrial revolution.

The conflict of solidarity and nationalism comes in to play when countries have to forego their own interests to pursue common interests. This criterion is difficult to determine as there is no sure way of measuring how far citizens of one nation are prepared for the interests of another over their own in the name of common interest.

Various concepts are used in economics, them being; goods and services, firms, productions, supply and demand. Consumers’ needs and wants influence how goods and services are produced by firms, distributed by retailers and wholesalers, and the general consumption of the products themselves.

The idea of incentives to workers is common in single, partnership and cooperative businesses. Generally, incentives are meant for businesses success. There are different categories of incentives and the classification is in accordance with the ways through which the workers are motivated.

This country is torn between legalization of the supply of such drugs versus absolute prohibition. It is worth noting that these two proposals have different socio-economic effects, but one must outdo the other either way.

The interaction between politics and markets cannot be doubted. In fact, the ability of markets to face strong economic turbulences has been related to the potential of local governments to foresee threats and implement appropriate plans for managing the crisis. The responses of markets to political and private decisions have been extensively explored in the literature.

The author states that it is clear that fraud in business settings prevails and this is mainly due to the selfish interests of the auditors and executives. Auditors must show social responsibility when carrying out their professional duties. CSR has no legal obligations, but organizations must give back to the society to facilitate its development.

The study gets a better understanding of what illegal or undocumented immigrants actually are. Illegal immigrants not only include those immigrants who enter the premises of a country illegally but also those people who although possess legal documents for the entrance but overstay in those countries.

Some scholars have considered China’s economic growth in the past 25 years as a miracle, an extraordinary feat that is unique only in China. China’s open-door policy not only serves as the catalyst for the robust economic growth of China but it is also considered the primary impetus, strongest and decisive factor catapulting China into one of the most powerful economies in the 21st century.

It is due to globalization that the amount of capital flows in an economy has been observed to surpass compared to that of the previous years. In the developing economies, the globalization has gradually become a portion of international commerce and capital flows.

Almost half of the global population survives on less than a dollar a day. Grusky and Sen (2006) claim that the Gross Domestic Product(GDP) of indebted poor countries is less than the wealth of the 7 richest poor people in the world combined. There are one billion people in the 21st  century who are unable to read books or sign their names.

The EU was born after many negotiations before 1944. The idea behind it was to create a common free market for all European nations and foster a healthy relationship between the European nations, which have in the past undergone a hostile history. The EU’s ultimate price is, to achieve a centralized economy, for her European partnering nations.

Case study 3.2: The Oresund Bridge Q1) In this case study, the price elasticity of Oresund Bridge is likely to be price elastic. Price elasticity is influenced by many factors, some of which exist in this case. The first major factor is that price elasticity is high when alternative options are available.

The model explains the long term and short implication of these factors on the economy. For instance, policies on economies like investment subsidies or tax cut that can immensely affect the stead output level, but has no effects on the national curve on the long-term levels.

The role played by FDIs in the economic growth of the nation and the economic reforms initiated by the government have in fact accelerated the development of managerial skills of the local employees to a considerable extent. The educational environment should be conducive to innovative practices, processes, and management in the industries. 

According to the report Volkswagen has been one of the early entrants in the automobile markets of China. Since then the company has grown in stature and has gained 30% of the market share in China. Over the course of the study various strategic and analytical tools such as PEST, Porter’s Five Force has been used.

Besides economic forces, politics also plays a significant role in influencing UK property markets. In 2011, the UK government first introduced tax credits for new home buyers. This was a government initiative meant to boost housing sales in a sluggish property market. As a result of the tax credit, many young people flocked to real estate agents in an effort to benefit from the tax break.

AB is the budget line of Linda given her present income and the prices of the two goods. Figure 1: Susan’s budget set in Adelaide The budget line implies that if Susan spent all her income on clothing she would be able to purchase OB units of it. If on the other hand, Susan spent all her income on food, she would be able to purchase OA units of food.

The second section introduces the methods used in the investigation, which is qualitative in nature. This section explains why the research framework is also a descriptive method of inquiry. In addition, the section also detailed how the research method verified the hypothesis made in this research.

According to this discussion the banks and the financial institutions suffered from the crisis. The governments of almost all the nations had to come up with packages that are required to move out from such a situation. The financial crisis will shed its impacts around the globe due to globalization.

The Division of Labor was written by the renowned economist Adam Smith in the eighteenth century. It was part of his work An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776. This writing became popular because it made a good analysis of the current state of the economy during the Industrial Revolution.

Ben Shalom Bernanke is the eldest of son of Phillip and Edna and has a sister and a brother whose names are Sharon and Seth respectively. Together with his family was part of the minute Jews in Dillon who attended Olav Shalom, which was a local synagogue.

It provides an economical source of energy that facilitates transportation and manufacture of various goods and services. It also makes huge economic contributions to the nation. This is because the oil and natural gas industry is the largest employer in the U.S.

The entire concept of economics is based on the demand and supply in the market. Demand is defined as the ability and willingness of a consumer to buy a good or service while supply is defined as the ability and willingness of the firm or individual to provide any good or service for sale. The diagram shows the demand and supply curves which combine to make up the market demand curve.

The proponents of this view also dispute that cutting costs in comparison to raising taxes would play out as a more effective method of heightening the economic development and in the least reduce misinterpreted contractions. The above arguments in most instances refer to the recent empirical studies of deficit decrease across nations around the world.

The purpose of this paper is to explain the advantages and disadvantages of having an automatic trigger for discretionary fiscal policy. Specifically, this paper seeks to look at how fiscal policy will affect the economy when there is an IS or MP shock. The benefit of this new policy is that it can help the economy to maintain the level of output in the presence of an IS or MP shock without suffering from time lag.

These articles are nowadays being used to present historical economic activities and changes in various countries. The essay that follows examines two articles through an economical view in regard to the topics used to extract information about economic issues affecting countries during the period presented in the articles.

Ethics are a form of moral philosophy that attempts to place explanation and recommendation for what constitutes right versus wrong in society (Fieser 2009). Ethics are about studying human relationships (Ciulla 2003) and the concept involves the study of how individuals in a societal or business context should behave according to established principles of what constitutes moral or immoral behaviours.

Recall the arguments for the distribution of income according to the neoclassical theory. If CEO compensation relative to average worker pay is vastly different in the US from the ratio in other historical circumstances and countries, what does this mean about the arguments for the distribution of income?

The paper deals with a case where a company, operating in a developing nation, would develop an export strategy to trade its products or services in a European country. The state of trading affairs has become highly complex after the emergence of globalization.

The central banks including the Federal Reserve have adopted aggressive credit lending policies in order to inject additional liquidity in the economy and stimulate economic growth. The huge credit offered in for business investments led to the expansion of the economies in the last decade which was eroded due to the global financial crisis.