Your search returned 200 essays for "Economics":
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Divisions of The Field of Economics

- ... Micro economists believe it is the forces of supply and demand in any market eliminate any shortages or surpluses in that market. Using Adam Smith's "invisible hand" metaphor, competitive markets will provide the most efficient distribution of resources. Macroeconomics focuses on shifts in the business cycle, and the implications of these movements in economic growth, inflation, recession, productivity, budget deficits, trade deficits, and the value of our currency. Macroeconomists believe that the broader economy, composed of many goods and services will not always self-correct....   [tags: micro economics, macro economics]

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New Institutional Economics and the Philippines

- New Institutional Economics and the Philippines New Institutional Economics offers a way to examine the dynamics of growth -particularly with an eye toward explaining the problems of slow growth in developing economies, where market systems may be presumed to be weak or incomplete. I will review these concepts within the framework of the Philippines, a sizable country with a rich and diverse set of resources, which however is not achieving significant growth. At present the Philippines is in a depressed albeit not grim state....   [tags: Economy Economics]

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The Economics of Predatory Pricing

- The Economics of Predatory Pricing Introduction Predatory pricing “is alleged to occur when a firm sets a price for its product that is below some measure of cost and forfeits revenues in the short run to put competitors out of business” (Sheffet p.163-164). The reason firms take the short term loss is because they hope to drive out competitors and raise prices to monopolistic levels. By doing this, they covered their short term loss to make even greater profits in the long term than they would have by not using predatory tactics (Sheffert)....   [tags: Business Economics]

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Economics An Overview: Article Analysis

- In business it is essential for owners to consider important factors when mapping out their business objectives. Economics used as a tool to solve coordination problems. They include what and how much product to produce, how to produce their product, and for whom they are producing. In order to effectively answer these questions, economics is used. Colander (2006) describes economics as “the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political realities of the society” (p....   [tags: Economics Business Analysis]

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Economics Assesment Task 2010

- Synopsis: In 2009, the world experienced a Global Financial Crisis (GFC) which caused recession in most advanced nations around the world. In an effort to combat this, the Australian Government created a Stimulus Package to increase aggregate demand. The treasurer, Wayne Swan proposed that $42 billion would be given to both individuals and businesses to lessen the impact of a recession. The package included a one off $950 payment to low and middle-income families, individuals, famers, students and other groups....   [tags: Economics ]

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Economics of Rough Diamonds

- Countries in Africa rely heavily on their exportation of diamonds along with oil for income. The revenue from the exportation of rough diamonds has either helped countries develop or lead to catastrophic events. The economic comparison of countries that sell rough diamonds can vary greatly. Some African countries strive for economic independence where as others have faced years of conflict and poverty. The economic and political oversight of rough diamonds compared differently throughout countries in Africa....   [tags: Economics ]

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Economics...In Real Life

- The 1920s were a time of luxury and economic stability in the United States, that is, until the day the stock market crashed and the country was plummeted in to a time of misery and uncertainty called the Great Depression. The ten year span from 1929 until 1939 is one of the worst episodes the United States has ever experienced; it held a great shortage in the money supply, massive unemployment, and despair and doubt for all of the people who lived through it. Frederick Lewis Allen’s book Since Yesterday: the 1930s in America gives a wonderful depiction of exactly what went on during this period of time in the United States, it explains what everyday life was like for the common people and g...   [tags: Economics]

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The Economics of Financial Markets

- How exchange rate policies and systems characterize the countries of South America: Exchange rate plays a key role in development of South American economy. The exchange rate has enormously influenced the economy of these regions particularly from 1960’s when the economy was mostly characterized by import substitution, and 1970’s when foreign debt was significantly increased. Exchange rate has been very instrumental in formulation of government policies in these regions. In fact, “many analysts regard exchange rate policy as a major determinant of other economical outcomes, such as adjustment to the oil shocks of the 1970’s and the debt the debt crisis of the 1980’s” (Frieden & Ernesto, 2010...   [tags: Economics]

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Economics: Demand and Quantity Demanded

- Executive Summary In this report, I will be distinguishing Demand and Quantity Demanded by stating the differences between both terminologies. By referring to the textbook which we are using throughout our course plus resources from the internet, I have been able to collect some information about the definitions of demand and quantity demanded. The factors which affect the movement along the curve and shifting of the curve have been stated in the following pages in this report. Demand and Quantity Demanded are different in terminologies and also literally....   [tags: Demand Quantity Price Economics Theory Research]

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The Misconceptions of Hope in Economics and Finance: A Hidden Message of Hope for the Little Fish of a Brighter Economic Future

- The cover of this issue of The Economist depicts one of the greatest misconceptions I have encountered regarding economics and finance in my professional career as quantitative analyst as well as in my personal pursuits regarding the subject matter. “Hope” for a brighter economic future is depicted as a center piece of “White Light”, whereas the politicians that the world population of “Little Fish” looks to for answers are far removed in the top right hand corner. The manner in which The Economist is laid out, with the various illustrations surrounding the “White Light” allow me the opportunity to discuss the lack of knowledge relating to spirituality in economics and its involve...   [tags: Economics ]

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Economics and the Foreclosure Crisis

- Throughout the last three decades, the United States experienced a substantial economic expansion. With more spending power than ever before, people began to seek larger purchases. Most of these significant purchases require the use of credit, and real estate is perhaps the most notable market which uses credit. Banks saw the great potential for profit, and sought to grant as many home loans as possible during this period of great wealth. Gradually, banks began granting loans to less qualified customers....   [tags: Economics, loans,]

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The Missing Entrepreneur in Economics

- "You can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something - your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life." -- Steve Jobs Current economic research denies the innate characteristics of the entrepreneur. Rather than attributing economic growth and innovation to personality traits, economists would rather advocate a form of economic determinism: if an aggressive personality dominated an industry, economists try to explain the characteristics of the industry that made aggression a s...   [tags: Flaws in Economic Theories]

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Health Economics

- Health economics is concerned with the efficient and equitable allocation of resources in the context of scarcity and uncertainty, and is relevant to individuals, practitioners, governments and markets. Changing factors such as an aging population and new technologies becoming available are increasing expectations from people as a whole throughout the world, and decision makers must make rational choices to maximise benefits to population health whilst working with limited resources. 2 summarises this by asserting that "health care resources in every setting are always constrained, while unlimited demand is observed"....   [tags: Health Care Resources, Medical Policy]

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Keynesian Economics and China’s GDP

- 1. Introduction Keynes published and introduced his economic theory in 1936, during the Great Depression, and gave guidance for government in formulation of monetary and fiscal policies. His model was widely acknowledged during recession times when classical economic model somehow failed to effectively and productively solve some economic problems such as unemployment. Although China’s economy is believed to have “Chinese characteristics” and cannot hastily adopt a Western model, Keynesian economics is still believed to receive embracement in China, as government intervention is wider and deeper than most of other economies of such large size....   [tags: economic theories]

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Keynesian Economics

- Macroeconomics is the branch of economics concerned with the aggregate, or overall, economy. Macroeconomics deals with economic factors such as total national output and income, unemployment, balance of payments, and the rate of inflation. It is distinct from microeconomics, which is the study of the composition of output such as the supply and demand for individual goods and services, the way they are traded in markets, and the pattern of their relative prices. At the basis of macroeconomics is an understanding of what constitutes national output, or national income, and the related concept of gross national product (GNP)....   [tags: Keynesian model, Macroeconomics]

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Sacred Economics vs. Scarcity Economics

- The aggressive competitive nature of the United States economy has caused poverty for many, while creating hostile crime-driven environments that result in an increased gap between the rich and the poor. The current state of the U. S. economy has caused an outcry of criticisms and alternatives. U. S. citizens jointly agree that the economic system in the U. S. has failed the mass majority of its citizens (Bruner, 2012). Economists agree inequality has grown immensely, but differ sharply over government action (Bruner, 2011)....   [tags: United States Economy]

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1462 words | (4.2 pages) | Preview

Importance Natural Resource Economics

- Natural Resource Economics Economics in its broader sense deals in the distribution, production and consumption of goods and services in the most efficient way. It tries to explain how goods and services can be distributed or allocated to effectively meet the needs and demands of the market. Natural resource economics is slightly similar to this broader economic perspective, in that it seeks to efficiently allocate the earth’s ‘goods and services’ to meet the needs and demands of the economy. These ‘goods and services’ are the earth’s natural resources....   [tags: ownership, development, utilization]

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The Paradox of Electoral Economics

- The paradox of electoral economics focuses on how governments interact with conditions of economic growth. Additionally, this paradox includes the government’s interactions with market economies and how the economic interactions coincide with politics. The paradox of electoral economics states that all governments require positive economic performance. In other words, governments need up to par economies in order to sustain their own foundation, weak economy means weak infrastructure. The paradox also requires support and compliance and states that democratic governments are particularly vulnerable to economic performance....   [tags: government, market, politicians]

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The Economics of the South and the Civil War

- Introduction Most people believe the Civil War was fought only over slavery and for abolition. Because of the speech Abraham Lincoln gave “The emancipation Proclamation,” it looks like the Civil War was a war about the morals of the nation. A war could not be stopped from happening once the Compromise of 1850 happened. The South was frantic to keep slavery going. Their whole economy was bases around the economics of slavery. The North did not realize that there was more than freeing the slaves to do with the war....   [tags: U.S. History ]

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1615 words | (4.6 pages) | Preview

Industrialization, Economics, and the Environment

- Industrialization, Economics, and the Environment Human technological advancements make it possible to sustain larger and larger population by exploiting more and more natural resources. The three revolutions in human history, agricultural, industrial and green have all been answers to overpopulation. Naturally, industrialization leads to environmental degradation. The concern with Industrialization is that it is not a long term solution to human sustainability, since it operates under the premise of the tech fix, or the idea that humans will be able to invent new technologies to ensure their own survival....   [tags: Environment Environmental Pollution Preservation]

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The Economics of The Civil War

- Economics of the Civil War: What economic advantage was provided with the completion of the railroad. TABLE OF CONTENTS Plan the Investigation 3 Summary of Evidence 3 Evaluation of Sources 5 Analysis 6 Conclusion 8 List of Sources 9 PLAN THE INVESTIGATION Question: What economic advantage was provided with the completion...   [tags: railroad, union, confederacy]

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Classical Laissez-faire Economics

- Classical Laissez-faire Economics The earliest organized school of economic thought is known as Classical. The father of this school is Adam Smith. Smith used the concept of the invisible hand to describe the role of the market in the allocation of resources. In the market, the interaction of demand and supply determines how much of a good will be produced and the price that is charged for that good. Absent any explicit guidance mechanism, the invisible hand guides participants in the market towards an outcome that efficiently allocates resources to the production of goods that society desires....   [tags: Papers]

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Economics Class Questionnaire

- BUSINESS ECONOMICS ASSIGNMENT- 3 Ques. 1)(a)Analyse both the conventional and unconventional tools used by central banks. (a) Meaning of Monetary Policy:- Monetary policy refers to the measures which the central bank of the country takes in controlling the money and credit supply in the country with a view to achieving certain specific economic objectives. These objectives are: 1. Rapid Economic Growth: The monetary policy effects the economic development by controlling interest rates in the economy and its effect....   [tags: Market, Finance, India]

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Economics of the Revolutionary War

- Economics of the Revolutionary War After the end of the French and Indian War in 1763 the American people had taxes placed on them by the British. The British Parliament claimed that by placing the taxes they were defending the colonies for the Americans. During the twelve years following the war, the British enacted a numerous amount of taxes that allowed them to raise revenue from the American economy. This taxing of the American people hurt the American economy and started to push the American colonists toward an independence movement so they could have a free economy....   [tags: Papers]

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Utilitarianism, Economics and Ethics

- Imagine a child living in a hot, government owned apartment in Chicago. He has no father. With his single, jobless mother he struggles to the words of the founding fathers: “We hold these truths to be self-evident, that all men are created equal; that they are endowed by their Creator with inherent and inalienable Rights; that among these, are Life, Liberty, and the pursuit of Happiness...” (The Declaration of Independence). This is one of the most famous phrases in the US Declaration of Independence and has become the underpinning of the dreams of millions of people around the world....   [tags: Flaws in Utilitarianism]

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Characteristics of Transaction Cost Economics

- In the current competitive business situation, the budget of each investment is likely to be tight. From the beginning of the investment, the cost management might conduct for the best efficiency. Nowadays, firms work with not only domestic industries but also international suppliers. The channel of business opportunities has been developed widely. Global business interaction seems to bring about the relationship between the firm and supplier how to make a profit effectively. In addition, it might be possible to say that this circumstance leads to enhance the domestic industrial relationship too....   [tags: Economics]

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Thoughts on Game Theory in Economics

- According to Wikipedia, game theory is a branch of applies mathematics that is used in the social sciences (mostly economics). Game theory can also be defined as a theory of competition stated in terms of gains and losses among opposing players. Game theory tries to mathematically imprison behavior in strategic situations, in which a person’s success in making choices depends on the choices of others. Traditional application of this theory attempt find equilibrium in these games, in equilibrium....   [tags: Economics]

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Overview of Behavioral Economics

- Behavioural economics is the study of the effects that psychology has on the decision making of the economy. This tends to be the way that people think and feel when they are spending money on a certain good or service. The great economist Adam Smith was the first follower of this idea through his book “The theory of moral sentiments” which dates back to 1759. However, it took over 100 years to get a more clarified meaning of how big of a role the psychology of a buyer plays in economics. In behavioural economics there are seven basic principles which all contribute to the decision making process....   [tags: Psychology, Economics]

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Adam Smith's Contributions to Modern Free Market Economics

- Among economists, it is said Adam Smith is one of the main contributors to modern free market economics. His thoughts attacked mercantilism which was the prevalent form of government at the time. His works provided systematic rationales in the subjects of capitalism, free markets, and limited government intervention. His most popular books changed history because without them, many of these thoughts and ideas would not be so prevalent. Smith is regarded and cited as the father of modern economics....   [tags: Economics ]

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Demand: One of the Pillars of Economics

- Demand and Quantity Demanded There is a clear distinction between demand and quantity demanded; furthermore, they have their own significance in the economics arena. In economics, the term demand refers to the will associated with purchasing a product, which one can afford, meaning that the price must be contained within the fiscal reach of the consumer. Demand is also a combination of aspiration to possess something, capability to pay for it and the willingness to reimburse. An example is the ability of citizens to pay for education, as well as to buy basic-food staff....   [tags: Understanding Demand in Economics]

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Environmental Economics and Government Policy

- Economists often talk about letting the economy work through the mechanism of the free market versus government control and regulation. Some believe that if the market is allowed to "do its thing" unprohibited and without government interference, then resources will be allocated efficiently, equilibrium will be found, and so on… However, this is not always possible. Of course, government control is not perfect either. Thus, it would seem that at times the market may be more appropriate than the government; other times the government may be needed because the market is not able to function properly; and other times a combination of the two working in unison may provide the best and mos...   [tags: Economics and Community]

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3398 words | (9.7 pages) | Preview

Conservation and Economics: A Constant Struggle in the Past and Present A Mutual Relationship in the Future

- Conquerors and competitors, that’s what humans and all animals are to a point; every living thing on Earth has one mission: survive and reproduce. The balance of the environment relies on this concept of constant competition, but this balance also has checks and controls if it is damaged or becomes unstable. Humans have developed to the point where they can completely exploit the environment however they want. There are no natural predators to control our population, we fight diseases with ground-breaking technology, and we replace native plants and animals with ones that fit our “needs” more suitably....   [tags: Economics ]

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2120 words | (6.1 pages) | Preview

The European Union: Economics, Policy and History’ by Susan Senior Nello

- ... These researchers looked at the ‘correlation of demand and supply shocks between the new Central and East European member states and the euro area during the 1990s’ (207). The author claims that reasons why the European Union is not an Optimal Currency Area is due to the selection-process of the countries that are allowed to be part of the European Monetary Union. The European Union that started out with the European Steel and Coal Community (Gillingham ix) was intended as a community to optimize the economic results....   [tags: chapter 9 analysis, economics, policy-making]

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1724 words | (4.9 pages) | Preview

Environmental Economics

- Introduction With the rampant deterioration of the environment taking place, panic striking and scandalizing environmental issues like global warming and greenhouse effect making banner headlines in our news papers and bulletins. Entire world is busy in devising energy reforms that can save the planet from plunging deep into the pit of destruction and catastrophe. In order to counter the looming energy crisis that is engulfing the world, research scientists all over the world are busy brainstorming their ageing heads in order to devise reliable energy systems, which can prove effective in resolving environmental disasters....   [tags: Environment, Renewable Energy]

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1945 words | (5.6 pages) | Preview

Economics of Haiti

- The economics of Haiti has deceased in the last 4 years after the devastating earthquake that struck it 4 years ago. The Haiti economy has become very poor and one of the poorest country in the south, Central America and Caribbean region making it ranked 24 out of 29 countries in this area and its overall score is below average. Haiti’s economic freedom is 48.1 making it economy the 151st freest country while in the last several years Declines in the management of government spending, freedom from corruption, and labor freedom make its overall score 2.6 points lower than last year....   [tags: Economy, Exports, Poverty, South America]

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2353 words | (6.7 pages) | Preview

Economies of Scale

- Introduction The conditions proposed by the financial crisis and international markets have ended up affecting the practice of economies and shared frames of reference on the nature of the problems. A minor phenomenon in Bangladesh can have substantial impacts in New York or London. The scale and size categories have become central to the analysis of what is happening. Institutional sizes are related to risk externalities [Makridakis / Taleb, 2009]. The work produced [Haug, 2007; May, 2008] offer an explanation of the consequences to take extreme risks in economies (extreme risk)....   [tags: Economics ]

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Emerson and Economics by Alexander Kerns

- In Alexander Kern’s “Emerson and Economics,” Kern draws attention to the economical aspects found in Ralph Waldo Emerson’s texts. Specifically, Kern discusses the lack of attention that Emerson’s economical notions receive. Emerson is not associated with being an economist writer, but Kern draws attention to how “he so frequently touched the subject than an understanding of his economic ideas is a prerequisite to the evaluation of his entire thought on any relative or absolute scale” (Kern 678)....   [tags: ralph waldo emerson, self reliance]

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International Economics of Renewable Energy

- International Economics of Renewable Energy Energy is a critical component for every economy and society around the world. Energy is divided into two groups, nonrenewable (coal, oil, natural gas, and nuclear) with a finite amount found around the globe and renewable (hydro, tidal, solar, wind, geothermal, and biomass) that are constantly being replenished so that they will never run out (Green Energy Choice, 2011). The international economic impact of renewable energy is explored by examining subsidies, strategic policies, and comparative advantage of renewable energy....   [tags: Energy ]

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1861 words | (5.3 pages) | Preview

Economics of Crime: Capital Punishment

- Introduction Capital punishment was an ancient penalty. This has incurred many argues since 18th century. The focal points are ‘value of life’ and ethical concerns. Besides, the economics analysis also is important, which focuses on the effects and efficiency of capital punishment. In the article, the anterior part indicates the supporting reasons of death penalty, the posterior part indicates the cons. Support Reason Deterrence of punishment Becker (1968), first of all, assumes that the crime is bad which incurs social loss, it should be deterred, death penalty is the severest punishment, and potential criminals are normal individuals....   [tags: Capital Punishment, Death Penalty]

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1843 words | (5.3 pages) | Preview

Health Economics

- Cost-benefit, cost-effectiveness and cost-utility analyses are forms of economic evaluation which are useful in health economics for comparing costs and allocating resources. Health economics is widely relevant to governments and the health sector in implementation of new policy, as it concerns the allocation of resources in the context of a limited budget, or 'scarcity'. Economic evaluation is a potential tool for setting priorities in health, though it is only one of many potential criteria, including overall budget and public attitudes and wants....   [tags: Medical Policy, Evaluation and Analysis]

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2840 words | (8.1 pages) | Preview

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