Essays on Economy

Abstract

The paper dwells on general equilibrium theory by putting into perspective various critical issues. The origin of the concept of general equilibrium theory is illuminated dating back to neoclassical period. Moreover, various models such as Walras model of pricing and modern equilibrium model is also put into consideration. Finally, the importance and application of general equilibrium has also been discussed at length. General equilibrium theory refers to a concept modeled around theoretical economics. The modern general equilibrium takes into consideration three important interpretations which should be taken into consideration. The idea of general equilibrium theory cannot be complete when Continue reading...

The Hospitality industry in the U.K

The hospitality is a major employer and is a relevant field the world over. The U.K has made leap and bounds in the hospitality industry and this shows because it is a major contributor in the country’s economy. Like everywhere else in the world, the hospitality industry encompasses several fields within itself. Some of this field include; domestic and foreign tourism, food service and the hotels. The hospitality industry is dependent on several other factors, as a result this makes this industry fluctuate from time to time during an economic year. The hospitality industry can be divided into Continue reading...

Answer 1)

Dividing the period of analysis in three periods i.e 1981-1991, 1992-1997, 1998-2011 we could easily interpret the actual trend in the bond ratings by Standard and Poors.
1981-1991: This was the period of slow economic growth and as a result, once could witness that till 1991, number of bonds downgraded had exceeded the number of bonds upgraded.
1992-1997: This was the time of blue chip stocks and when US economy was introduced to the boom of technology. As a result, with the rejuniveation of US economy, the number of bonds upgraded exceeded the number of bonds being downgraded.
1998-2011: Continue reading...

Macroeconomics 2301

18.04.2014

HCC

Spring 2014
8 week course
The world’s economy has faced several periods of crisis during the last twenty years. The financial crisis in 2008 is the one that is most recent. It emerged in the United States and then spread to Europe, later affecting the rest of the world. The most problematic sector in the US was the mortgage sector, and was one of the main causes leading to the financial crisis. The house prices have been rising from 1998 to 2006, prompting home builders to construct more new houses every year, but these injections helped rising Continue reading...

Its impact on the businesses of New Zealand in 2014

(Name of your Institution)

External organisational environment of New Zealand and its impact on the businesses of New Zealand in 2014

Introduction
Since the past few years, increasing emphasize have been cast “on the importance of analyzing the relationship between the organization and its environment (Pfeffer, 1972).” Several researches have been made in order to understand how the external organizational environment, general environment and task environment affect business in a country. “Also known as the operating environment, external organizational environment refers to market conditions, economic and political issues on the local and national levels, demographic factors, and other forces outside of a business that affect the overall success of that business (‘External Environment’, n.d.).” On the Continue reading...

The New Deal was basically a series of programs that then then Democratic president of the United States, Franklin Roosevelt enacted between 1933 and 1936 to alleviate the financial and to a greater extent, the economic suffering that had struck the United States as well as other foreign countries. This phenomenon is known today as the Great Depression. The New Deal was the president’s response to the allegedly ineffective economic recovery approach that his predecessor, former president Herbert Hoover implemented.
The New Deal approach was meant to fix the economy from the ground up by making programs that Continue reading...

Labor unions are considered to be very beneficial to employees because they advocate for their welfare over their working conditions collectively. The bargaining aims at moving economy in a better direction. Collective Bargaining is the process in which labor management representative bargain an acceptable labor agreement (Blair566). When employees bargain collectively, they get a chance to attach their benefits and wages to productivity gain of the overall economy of the state. A long standing labor organization is capable of improving the quality of future jobs. Collective bargaining results to better management and increased productivity (Blair567). Labor unions increase creation Continue reading...

- At the equilibrium quantity how much annual revenue do the producers receive?
20 $ per crate of oranges
- If the government imposes a price floor of $30 per crate how much revenue will producers now receive?
(80 million crates x30 $) = 2,400 $ million
- Discuss whether producers are necessarily better off.
The producers are not better off because when the prices for the oranges is low, many customers demand for them and this would result to extreme losses. On the other hand, when the price for the oranges is high, few customers are capable of buying them although Continue reading...

How Can Workers Achieve a Balance between their Work and Social Life?

Structuration Theory
In the workplace, workers try to strike a balance between work and life. In the family context, life casts many demands upon the workers that force them to work harder and meet the demands. The credibility approach enables workers to weigh the importance between work and their social life. Workers weigh what is more important between socializing and generating revenue to meet the demands they have. Those who have pressing demands work for longer where as those who value their social time work for shorter periods.
The second approach is the rationalization approach. Workers prefer to use Continue reading...

United States is ranked as the 12th freest economy in 2014 index, this is a point low than last year. The reduction in its score has been as a result of, deterioration in property rights, fiscal freedom, and business freedom. In addition to that U.S is ranked the second place out of three countries in the North America region, therefore, remaining very competitive and well above the world’s regional average (Barro 15).
In the year 2013, the gross domestic products of United States, increased from the previous year and was recorded as 2.6 percent. According to Barro 17 Continue reading...

Management

FOR : ALL MANAGERS
RE : General Environmental Forces
This Memo serves as follow-up on your identified roles for your first international assignment after your recent training on Cultural Competency. As part of the company’s objective in building global knowledge, I have decided to focus on the five General Environment Areas including the company’s economy, technology, sociocultural issues, demographics, andpolitical or legal forces.
I want to know your opinion on with regard to improving the economy of our company, and at the same time, the technology that will help in achieving the objectives of our organization. In Continue reading...

Introduction

Creating a moral, economic system should be the ultimate goal of every society. A moral economy is one that is founded on the principles of justice, fairness and goodness. A moral, economic system ensures equitable allocation of resources that are scarce in nature and configures markets to ensure that they run in a fair manner. The results are to realize a stable economy that is free from exploitation, political insecurity and wars. A moral, economic system fosters peace and satisfaction among the citizens of a nation (SEA, Browne, &Milgram, 2009). It also creates a level ground for fair competition Continue reading...

Economics

The European countries are facing lower growth rates, just as they faced in history. The austerity measures have brought pain to the euro zone, and these measures provided no relief. The euro zone countries are reducing their spending by the double digits. Such reduction is increasing unemployment in Europe. The eurozone countries are trying to find the possible ways that are suitable for countries that are stagnant economically for the prosperity of the countries. In order to achieve the better growth for the economies, the countries are adopting austerity. Austerity is the intentional deflation of the domestic prices and Continue reading...

At various stages of human development the workforce performance was different. Primitive society was characterized by full employment, whereas, during the feudalism era, there was an absolute and relative agrarian overpopulation of free citizens, some of whom became soldiers, in order to do at least something. Under the conditions of frequent capitalism in the industrial stage of development, when market economy dominates in most of the countries, we have a new socio-economic phenomenon — army of unemployed.
Unemployment is a complex socio-economic phenomenon in which the economically active population is unemployed.In a market economy, unemployment is a result of the Continue reading...

Introduction

Russia is a huge producer of oil and gas. It is the second largest producer and exporter of oil, and the largest producer and exporter of natural gas (Winfrey, 2010). Its economy largely depends on its oil and gas reserves. The funds acquired from its oil and gas reserves have greatly contributed to the survival of its political system. Boix (2004) argues that there are no examples of a successful transition to democracy in a country in which the contribution of the oil in the country’s export income is more than one third, and it seems to be Continue reading...

Introduction:

Despite the devastating effects of the 2008 global financial crisis and the subsequent Euro zone crisis, the tourism industry has continued to flourish. Initially, the industry was referred to as a cottage industry but the international travel and tourism industry has evolved becoming a major contributor to economic growth and development in almost every economy in the world. Research has shown that the global increase in worldwide tourist arrivals outperform gross domestic product growth in one out of every two years in the past three decades. Many countries regard tourism as the most significant primary export industry especially the Continue reading...

The Effect The Servicemen’s Readjustment Act Of 1944, Otherwise Known As The G.I. Bill, Had On The Economic Boom Experienced By The United States Post World War II

Introduction

The Servicemen’s Readjustment Act of 1944 (P.L. 78-446,58 Stat. 248m) was a statute that was aimed at providing a range of benefits to the returning Second World War troupers. The Bill was assented to law by President Franklin D. Roosevelt on June 22, 1944. The law was aimed at creating pool fund for the active fighters in the Second World War that would enable them to acquire education, Continue reading...

Africans do not have the incentives to invest and save, their politicians are more concerned on power retention games and do not have incentives that can deliver solutions to the economic problems of their masses. Sub-Saharan Africa is not naturally poor it was made poor by its political and economic institutions. Historically. Societies did not have the types of associations that are required for modern economic evolution. Although some societies had some elements of good institutes for a long time, growth and economic revolution arose when institutional transition took place. Compared to the events that followed in Eurasia, the Continue reading...

It has been 6 years now, when the world’s largest and said to be the strongest financial economy, The United States, went into financial crisis and the tornado reached around the globe. However, with the continuous monetary and fiscal policies by the Federal Reserve, the economy of the nation, although has not fully recovered after the crisis, but is back on stable path. However, still there are mixed views about the current macro-economic situation of USA from different economists.
As per the recent data released by the US agencies, the country is still underperforming and the same is Continue reading...

Introduction

Djibouti is a small country, situated in the horn of Africa. Djibouti city is the capital of Djibouti. Irrespective of its size, the nation is one of very talented and ambitious nations. The nation is surrounded by several nations and almost all of them are indulged in various kinds of disputes or warlike situations but Djibouti is unaffected by these disputes and remains in a very peaceful and stable state of affairs. This paper intends to discuss the Djibouti and several other related aspects.

Geography

The nation is surrounded by Eretria in the north and Somalia in the southwest while Continue reading...

Abstract

The paper focuses on the development of taxation based on contributions of  Ricardo, Smith and Petty. They both developed the taxation idea from Locke’s theory of a single tax on rent. Their major contribution was on the incident tax, which demonstrates value system, power relations and group interests on taxation. Finally, the paper analyzes how taxation influences economic decision in the 21st century.

Introduction

The development of political economy in the 17th century was characterized by an effort to flee from Locke’s theorem that all taxes would eventually fall on the rent of land as well as his Continue reading...

O’Hare airport is a busy international airport located in Chicago, Illinois. The airport serves about 65 million passengers and 2 million tons of cargo every year. It handles about 2,400 aircrafts per day. The airport is the second busiest in US after Hartsfield Jackson International Airport Atlanta (Lewis, 2014). In the world, O' Hare airpot is at the fifth rank in terms of passenger traffic and operations. From 2004 to 2007, the airport was voted the best in North America by Global Traveler Magazine. It is operated and managed by Chicago Department of Aviation. Majority of international Continue reading...

Question 1

There has been an argument within Canada that the rich section of the society is becoming super rich while those considered as poor are even becoming poorer (Gilbert, 2008). This assertion has elicited various debates with analysts taking to keenly follow the manner in which events have been unfolding within Canadian economy. It is aimed at either proving that the assertion holds or demystifying it all together. According to the latest statistics, earnings among the rich in Canada rise by a significant percentage. Analysts argue that the rise was 16% with the lowest earners’ incomes slumping even deeper by Continue reading...

Introduction

The United Arab Emirates’ became independent in 1971; it records an economic freedom score of above 70. This has made the economy of UAE appear in 28th position among the freest in the 2014 index. It has increased its rating and this year it has reordered a 0.3 point higher than last year. This has been made possible by improvements in labor freedom, business freedom, and monetary freedom which have outweighed the control of government spending. The first assessment of UAE was made in 1996 index and since then it has been a regional leader in economic freedom, this Continue reading...

The United States is facing gradual economic growth with large downside risks. The causes of the economic downturn in the US are attributed to the 2007 financial crisis when the nation experienced a housing bubble burst. Another root of downturn of the economy in the US is the sovereign debt crisis. This is so because the countries such as Greece are asking for assistance to finance their debt, which is affecting the US economy and the world economy. The fear is that this would take the United States economy to a low GDP level. Since the US is the Continue reading...

Executive Summary

Banks such as UK bank get the money that they lend from the deposits. The level of lending is usually dependent on the demand of the funds by the public and on the economic level of the state. When the demand for money is high, UK bank will have to check on the level of money that is circulation before it decides on how much to lend out (Sessa, 2011). It is done to reduce chances of having excess money supply into the economy that may result to the inflation. The bank can use various ways to ensure that Continue reading...

Brazil is the largest country both in the Latin and South America regions. It is also the fifth biggest country both by population and geographical area in the same region. In addition, it is the seventh largest economy in the world but, it is still classified as a developing nation. The country is one of the BRIC group. BRIC is an abbreviation for Brazil, Russia, India and China. These are emerging economies that have demonstrated superior economic development. They are also the fastest growing economies in the world.
Brazil’s national development bank is a major player in the Continue reading...

The total budget of the United States is comprised of the off-budget and the on-budget. Off-budget are parts of the budget that have trust funds. This is for instance social security fund, and Medicare. On the other hand, parts of the federal budget that operate without a trust fund are referred to as on-budget. A deficit or surplus in the total budget is influenced more by the on-budget than by the off-budget such that, a deficit in the on-budget increases national debt. Much of the history of the history of the United States of America from 1930 to 2011 Continue reading...

Compare and Contrast Essay

Daqiang Zhang
ESL 1068 001
In recent years, the relationship between the Chinese economy and the U.S. economy has become closer. “The two countries have a common purpose of establishing a trend of secure, high-quality sustainable growth and increased employment opportunities for their citizens, this has led to the creation of initiatives such as China-US relations” (Wolf, 2001). The study finds Changes in the U.S. economy are self-evident and have had an impact on China's economy. The changes in China’s economic development also impact the U.S. economy and the economy is growing. However, even though these two countries Continue reading...

Section A: Plan of Investigation

Most of the people in the current generation believe that war and essentially investing in the military is good for the economy. This is quite contrary to public acknowledgement and comprehension of the costs involved in case a war takes place. World War II disrupted a lot of systems the world over; America not being an exemption. This paper seeks to elucidate on the extent of damage the American was subjected to as a result of the war. Focus will be given to the macroeconomic implications of U.S policies as a result of the conflict. To achieve a sound Continue reading...

China is one of the strongest economic powers in the world. Its political leadership focuses on the fundamental alteration of the country’s growth strategies; this occurs through a rebalancing of economic growth sources (Lardy, 2007). Through strategies such as the expansion of domestic consumption, it notes significant economic growth. For instance, the country has managed to sustain its growing population economically. It occurs through rapid job creation, income distribution improvement, lowered rates of income inequality and a reduction of the outsized energy consumption. Aspects of China’s economy that depict its growth and challenges include; national output, employment Continue reading...

Part 2:

 A description of entrepreneurship in three selected countries, including an analysis comparing and contrasting their states of entrepreneurship
An increase in the importance of knowledge as a path way to achieving a competitive advantage in the modern economies is a clear indication that industries are always focused towards more innovations and unrestrained competition in order to achieve high growth rates. The entrepreneurial activity forms the most essential part of any country’s economy in the present global business environment. Global Entrepreneurship Monitor (GEP) conducts a research about the economies of 70 countries worldwide. Out of these countries, this research Continue reading...

In this paperwork, I am going to discuss about the growing proportion of older adults in the United States and how it may affect the nation economic, politically, and culturally.
It has come to both the government and the citizens’ attention, of the unparalleled pace that the United States is aging at, hence resulting to an increase in proportion of the elderly. The economic, social, medical, and personal situations are strongly affected by this continuous increase in the number of people over age 65 years. Critics have argued that this imminent occurrence of aging will place unexpected pressure on Continue reading...

The wage bill is the amount of payment that an employer compensates an employee for performing a service. A minimum wage bill, on the other hand is the minimum payment that an employee receives for the service. Minimum wages are establishment by legislation by the central government. It, therefore, becomes illegal and an offence to compensate employees less than the minimum wage bill, as stipulated by the government legislation.
The main mandate of the minimum wage bill legislation by the government is to protect its citizens from exploitation by employers. This enables employees to be in a the position Continue reading...

Introduction

The bituminous sand that is found in Alberta, Canada is a key resource to Canada. It has played a key role in the development of the country. The mining industry in Canada has played a key role in the economic development of Canada. It has been discovered that nearly approximately 10 percent of oil is considered to be economically recoverable with the use of technologies that are currently being developed. With this, Canada is ranked the third in oil energy reserves after Saudi Arabia, and Venezuela. It is estimated that oil sands will account for approximately 25% of oil Continue reading...

Following the American Psychological Association’s Guidelines

INTRODUCTION
The economy management of the country has two kinds of policies to intervene and regulate the markets in case of market failure: Fiscal policies and Monetary policies. Fiscal policies are the responsibility of the government, and the monetary policies are implemented by the Federal Reserve System (FED). The economic policies can be implemented in two ways: expansionary and contractionary economic policies. Expansionary policies stimulate the economy and expenditures of consumption and investment increases as the result of these policies. Contractionary policies slowdown the economy, and the expenditure level decreases. In this essay, the definitions of the fiscal and Continue reading...

There is clear positive relationship between imports and rate of economic growth of the country. The trade is considered favorable if the amount realized from the imports is more than the amount that was used to acquire them. Developing countries focus more on exporting their products while the developed countries will import more so that they can comfortably sustain their economy. Imports will always give pressure to the manufacturers to be more innovative on their production and apply methods that cut on costs so as to be able to compete with imports that are usually cheap.
International trade accelerates Continue reading...

Introduction The United States is facing an increase in economic competition, in the new global economy. It is in the State of Michigan that fluctuations are intensely felt and thus affecting the living standards of the residents. The residents are experiencing an unprecedented period of job loss and economic upheaval, with the end nowhere in sight. As manufacturing industries decline and manufacturing jobs disappear, it is becoming increasingly clear that, for the estate and the country to thrive, individuals in Michigan must cultivate the knowledge-driven, entrepreneurial sectors of their economy, particularly so-called "high technology."
Michigan’s has developed various Continue reading...

There is a need for any country to have its central Bank. Unlike most countries, which use the central Bank system, the U.S has a federal Banking system which is also known as the fed. The headquarters of the federal Bank is in the capital Washington D.C and also has other twelve district banks in different locations. Federal Reserve Act established the fed in 1913 and was formed to solve problems of money in the country (Gali, 2009). The decisions made by the federal Bank directly affect the safety and soundness of the country’s financial system.
The federal Continue reading...

Abstract

The use and interpretation of economic policies are fundamental to the formulation of strategic plans and courses of action. Economists and policy makers play a vital role in executing this important analytic and interpretive task. Keynesian and monetary schools of thoughts are some of the important alternatives applied in making economic decisions.
Monetarists believe that government involvement in controlling the level of aggregate demand in the economy is counterproductive in the long run. In its stead, they propose that the best way the government can control unemployment and inflation levels is by the use of monetary policies. Monetary policies Continue reading...