Macro & Microeconomics Essays

About 45% of Algerians live in urban areas. The performance of oil sector has a great direct consequence on the Algerian economy, since exports chiefly constitute of hydrocarbon, and contributes about two thirds of government revenues. The industrial sector, particularly oil mining, accounts for approximately a third of entire GDP.

In other words, economics is about efficient allocation of scarce resources (Wessels, 2006). Since resources (factors of production) are very scarce and human wants are unlimited, we have to allocate them efficiently for the welfare of all citizens thus the need for economics.

An oligopoly is best defined as a market structure in which there are is small volume of sellers that dominate the industry (Hirschey 2009; Hirschey and Pappas 1995). The sellers involved in the oligopolistic market structure are usually quite large, therefore their actions and strategic intentions strongly impact the market.

The second determinant is time which affects the price elasticity of demand in such a way that when the consumers are faced with a longer time to adjust to the product prices, then the more elastic the demand of the product becomes. Total revenue also affects the price elasticity of demand in a way that when the price decreases, the quantity demanded will increase thus increasing the total revenue.

Macro & Micro economics Contents Contents 2 Introduction 3 Causes and Mechanisms of the collapse of the world trade 3 Current Trade Policies in Response to the Global Recessions 7 Policy responses on negative impact on the trade balance were implemented in the UK 8 Effectiveness of the EU trade policies in the long run 9 Conclusion 11 References 12 Introduction The Great Depression was one of the most severe economic downturn that the world faced during the twentieth century in the pre-World War era.

The equation, which determines this relationship, is presented as: E(Ri) = RF + ?i [E(RM) - RF] (Giovanis, 2010) The CAPM model is based on various assumptions, which in turn have implications on the application of the model in the actual scenarios. By assuming that investors in general tend to avoid risk and prefer such investment opportunities only by considering the returns associated with them together with the variations in the returns related to assets.

Greenhouse gas emissions and price elasticity of transport fuel demand in Belgium. In the article, “Greenhouse gas emissions and price elasticities of transport fuel demand in Belgium” the price elasticity of demand for fuel plays a significant role in analyzing the reduction of greenhouse gas emission from Belgium transport sector through intervention by the Belgian government.

In most cases such inefficiencies are caused by monopoly pricing or taxation (Brent 89). In other words, a deadweight loss can be termed as the total surplus resulting from market distortion especially from the side of government regulations on prices and in most cases the levied taxes.

Answer The preamble of GATT describes about the motives and purpose of forming it. Full employment, increased standards of living through steady growth of income and to make full use of world resources to expand the production base and exchange of goods were the motives behind formation of the GATT (World Trade Organization).

The framework of the Melitz model focuses on analysis of intra industrial effects of the international firms on trade. The model lays emphasis on the manner in which exposure to the international trade is likely to induce the entrance of more productive firms into the export market.

This paper aims to highlight three major differences of Islamic banking with regular banking system. Differences between Islamic Banking and Regular Banking With and Without Interest on Loans The banking institutions in any economy play a crucial role in the progress of the economy.

Macro environment Macro environment factors are also external to the firm and cannot be controlled. These factors hardly have any effect the marketing capability but affect the decisions of marketing within the company. Macro environmental factors may include the following:

Both these definitions illustrate that economics is a science applied in our everyday life, rather than it is one of the abstract studies. Everyday people have needs and wants they seek to satisfy. Even though these needs and wants are changing, and depend on many various factors, they are continuous.

Critically, health policy is vital in facilitating infrastructural set up to enhance the provision of timely health treatment to victims of lifestyle diseases. It provides requisite capacity through legislation on various economic measures, for example, initiation of price controls to balance supply and consumption.

The two countries participation in trade blocks in the region is beneficial, both politically and economically. Indeed for the two countries, closer ties in Free Trade Area of the Americas (FTAA) have served the purpose.

This essay highlights macroeconomic objectives of the June 2010 Budget and focuses on the analysis of macroeconomic problems, that were identified in the Budget report. According to the essay, the present UK Government appears very genuinely committed and focused upon controlling and reducing the budget deficit in the UK over a five year period

This paper examines the strategies used by China to enter the various African extraction markets. It goes further to look at the China-Africa Development Fund . It then looks at the various expansion into the extractive industry of the continent by examining deal flows and profitability of these Sino-African mining and drilling ventures.

The major turn around in the value of oil was seen after the 1973 oil embargo of the oil producing countries from around the world, which shook the entire base of world economics. It was after this the major players in the world economics understood that oil it just not just a black liquid it is the black gold and the need for the survival of every country in the world.

Recently there is a co-authored by Senator Schumer (D-NY) and Mike Lee (R-UT), US VISA offering a three year residential visa to foreigners who will spend at least $500,000 on a residential house, be it a single family house, a townhouse or condominium. The breakdowns were as follows, the $250,000 must be spent on a residential house.

When president Obama took charge of the presidential office, US had already lost over 8.8 million jobs and the Obama’s stimulus program which was made to create 4 million jobs was not enough to counter the entire problem. The problem is going to further elevate as the job created through the stimulus package were coming to an end as the projects started with the stimulus money were coming to an end.

According to the study conducted all the students attending college do not have to earn for their expenses. Sometimes students are dependent on their parents who take the responsibility of paying for all of their son’s or daughter’s expenses. Attending college and pursuing a degree course also requires a student to study harder and appear for examinations.

Evaluate the significance of imperfect competition models for explaining the pattern of international trade. The word “competitive” means ‘not monopolies’. A market structure that does not satisfy the assumptions of perfect competition is regarded as the market of imperfect competition.

He finally died from lack of medical attention. This is an example given by president Obama in an article on the time where he was discussing the importance of health reforms. This is just one of the many examples of how difficult life can be when people cannot afford medical care in America.

The ever increasing global fuel prices and diminishing stock of available sources of energy has continued to be a concern to economic planners. This has prompted countries to search for cleaner and renewable energy to meet rising demand from industries and homes.

Different theorists argue on different economic models in the approaching the markets. Ideally, economists derive markets as determined by the availability of the required resources with a ready seller and buyer for the product (Block, and Block, 2008:56).

The sellers and buyers are on two sides of the market forces that meet at the market with the aim of maximizing private gains from obtaining goods and services (Weintraub 2002; Keita 1992, 7). This paper presents a study on the compatibility of this theory with the basic concepts of sustainability.

A Monopoly or Monopolies have been determined as one of the main types or causes of market failure, the term not suggesting death or cessation of the market but rather aligned with the definition of a monopoly. A monopoly is defined as: “exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices.” (Dictionary.com Unabrdiged v 1.1) In dealing with microeconomics, we must be cognizant of the real world nature of this subject area as well as the simplicity of its underlying structure, whilst the monopoly, and different types of competitive behaviors, form part of the industrial organization of the broader microeconomic fie

Yet, it is considered as the weakest rebound since WW-II. Economic growth is as low as 2.25% and unemployment is still higher than where it should be by this time. To see that it means to American, a closer look as few important factor is taken. Unemployment has been steadily coming down for the past three years.

Notably, most of the Russian natural gas and oil were sold in Europe since it offered the major market for these resources (Russia’s most crucial economic partner). The effects of the 2008-2009 economic crises have negatively affected demand in the energy sector of the European market.

Budget deficit has been has been an issue in both developing and industrialized countries. Originally, the issue was blamed in large for the assortment of ills that beset developing countries at that time such as indebtedness, poor investment, high inflation, and poor growth performance.

The main purpose of the research is to present that poverty has become one of the major economic concerns in the United States recently. Indeed, by a considerable margin, the country has the highest poverty rate among all other developed economies. Particularly disturbing are the poverty rates for children: 3-4 times bigger than in most European countries.

Under the assumption that there are perfect markets, perfect information dissemination and very minimal transaction costs, Coasian bargaining can seamlessly happen and can be used to secure environmental protection. (Cole 2002:3-4) Theoretically, Coasian bargaining leads the general public to get together and, as general beneficiaries, to be willing to jointly contribute resources for environmental protection.

Most of the developing countries, including U.K. and U.S.A. as leading figures, management and administration are now matters of organized work-plan that includes various techniques for avoiding human errors. Such techniques nowadays include method like Hierarchical Task Analysis (HTA) and Human Error Assessment and Reduction Technique (HEART).

You need to review the report carefully. Ask yourself: * Where there is matching material, is there a sufficient amount to indicate that the Writer has taken the material from a source, or is it just a fragment? * If the Writer has taken material from a source, have they properly referenced it?

And, 58 percent of the total employment is provided by the services sector in the UAE, which includes insurance, finance, trade, restaurants, hotels, transport, storage, real estate, insurance and so on. In the subsequent parts of this paper; first, the financial sector of the UAE has been accounted for.

From an overarching context the research established the understanding that there has undeniably been significant differences between the successes of transition strategies in certain countries. The research has then argued that the two major pre-liberalization factors that impact transition strategies are the countries’ macroeconomic state and the extent that steps were taken to achieve greater levels of privatization during the period of central control.

Economic efficiency is a relative term; any economy will be more efficient once it manufactures more products and provides more services for society than another by using the same or lower input (Bresnahan 1982). There are two models for market structure namely Perfect Competition and Monopoly markets.

It is always important to ensure that there is a continuous effort to ensure that the economy is in the right state to get assurance that a state can sustain itself properly. Reliable report has it that the state of California has history of large budget deficits.

In most of the times when a country suffers from inflation the central bank of that country takes several steps to stop severe inflation and tries to minimise the prices of the goods and services (Hudson, 1982, p.67). The central bank of United Kingdom is known as “The Bank of England”.

Complexities in international trade in the recent years have increased complexities in businesses due to globalization drive pursued by the countries.  The market structure in various economic systems has undergone significant change due to the impact of the convergence of technology.

All these theories and thought are seen to be adversely affected by their timing. As a matter of fact an economic theory is stimulated to solve a certain economic problem, which is real either at the theories invent period or a preceding theory. Therefore theories that are developed at the same time show similarities but may differ due to different views of the problem as stipulated by the theory developer.

Its main benefit arises from the reduced interest rates and expansion in money supply. In this context, the focus is Germany; a large country with a dynamic system of open market and economy that is both affected and influences the foreign market through international intense competition in the mobile capital, technology and world products in the market.

The law of supply states that the higher the price, the higher the goods the producers are willing to supply. If the price is high, this also entails that the level of supply is also high since the producers will be willing to supply more which is likely to result in the generation of more revenue which constitutes the basics of every business.

Working Capital Management Introduction Working capital management is a complex process through which a company ensures that it maintains sufficient cash inflows in order to meet its short term debt obligations as well as operating expenses. In other words, the system of working capital management intends to establish a relationship between a firm’s current assets and current liabilities.

This essay mainly focuses on determining certain sets of economic policies, conducted by Argentinian government in the early 2000s, that contributed to the cessation of the economic crunch. On the economic front, the government abandoned convertibility, encouraged industrial reactivation, and introduced price control measures.

In addition, the humanity witnessed the failure of UN Security Council, NATO, International Criminal Court, and many other conventions and organisations to control the use of economic and military power by the US and its allies in the name of ‘preventive war’, in stark contradiction with the meaning and ethos of all the measures taken by the international community after the World War II to save succeeding generations ‘from the scourge of war’.

Air travel is an increasingly expanding industry, for both business and leisure pruposes. “It facilitates economic growth, world trade, international investment and tourism and is therefore central to the globalization taking place in many other industries” (Aruvian’s R’search, 2011).

Various influential figures have also argued that there has been extensive inflow of foreign capital into the American economy which acted as the main triggering factor behind the crisis.

It mainly occurs when there is an extensive increase in the supply of the money within the economy which is not balanced with the growth of Gross Domestic Product (GDP) of a particular economy. As a result, there occurs an imbalance in the supply and demand, relative to the revenue of the country.

The author states that the key factor that contributed to the decline of feudalism was its tendency to encourage population growth for both the peasants and the feudal lords. The large peasant family helped in farming but it led to defragmentation of land holding and lower production in the long run.