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Economic Essay Topics & Paper Examples

Economic Impact of Natural Disasters

Natural disasters are catastrophes hauled by the nature on man. They may bring about large scale destruction depending on the type of natural disaster. Natural disasters include a range of hazards which may cause widespread devastation and human and animal casualties. They range from floods, earthquakes, hurricanes, cyclones, tornadoes, tsunamis, avalanches, volcanic eruptions, famine, heat wave and droughts etc. Natural disasters in the past were mostly unpredictable however, with the advancement of science and technology numerous authentic ways of previously detecting the possibility of natural disasters have developed. Nevertheless, even with the invention of modern scientific ways and pre-disaster preparations, human societies are not completely safe from the terrible outcomes of the disasters. The calamities bring with them huge destructions…

Economic growth

Economic growth refers to the increase in the levels of a country’s wealth and capital as a result of positive change in the levels of production of goods and services during a certain period of time. 1 Economic growth is usually ignited by technological advancements and positive external forces. Economic growth can be measured either in terms of nominal growth or real growth. Nominal growth takes inflation into account and thus demonstrates economic growth as Net Domestic Product while real growth does not account for inflation and thus demonstrates economic growth as Gross Domestic Product. Economic growth is usually determined by levels of Gross Domestic Product (GDP). GDP is the preferred means of measuring economic growth because increase or decrease…

Economic Globalization

Economic globalisation is a concept that has become common in the recent times and it is popularity is growing overtime. It virtually implies the process by which two or more countries economically integrate with an aim of enabling a global marketplace or in other words creating a global single market (Fung, 2006, pp 1). The main purpose for economic integration is to enable the expansion of the market, that is, corporations are enabled to operate beyond the borders of their country of origin. The concept of economic globalization can be perceived to posses both positives and negatives depending on the context over which is being analyzed from (Gardner, 2005, pp 67) The concept of economic globalization can be traced back…

Economic Factors

The GDP (Gross Domestic Product) or The Gross Domestic Income (GDI) is defined as the gross total market value of all the final . products (goods and services) produced by a country in a given period of time more specifically a calendar year. Gross Domestic Products can also be considered as the sum of all value added at every stage of production of all the final goods and services produced in a country and are always given a money value(kuznets,1932) Since the GDP is a measure of national income and output it is always equal to the total government spending, the total consumer spending and the total investments in a country. It can be calculated using the formula below; Gross…

Economic Development Record

Economies all around the globe develop over time depending on the policies that they undertake to utilise the resources within their boundaries. Nations that utilise their resources experience economic growth and there is great inflow and outflow of goods and services in those nations. Economic growth means that the nation is utilising its resources efficiently and this has resulted into increased productivity within the various sectors of the economy. Industries within the nation increase as a result of the improved economic performance that will result to the creation of more employment opportunities hence reducing unemployment levels in the nation (Daquila 2004). Due to the increase in the number of industries and output in the already existing industries, employment opportunities increase…

Economic development and social standing of women in low income countries

‘The hand that rocks the cradle is the hand that rules the world’ is a famous saying that is pertinent to the argument that analysts make about development of women in low income countries depending on the raising of social standing of women in these countries. Because, Women are the nourishing ground of human resource of any society. Children are the future citizens of a Nation and the global world. High standards of women in society lead to a rich human resource. A productive human resource is the most important potential of a country for economic growth and prosperity, which further brings about a total development of that nation. Women are the grassroots of such a growth. Therefore it is…

Economic Cycle From 1984 To 1986

We can first define economic cycles as the reoccurrence of the expansion or contraction of a countries economy. We still have to look at the view of Wesley Mitchell who is the most famous in the research on economic cycles. He defined business cycle as; Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises; a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and revivals which merge into the expansion phase of the next cycle; this sequence of changes is recurrent but not periodic; in duration business cycles vary from more than one year…

Economic Boom of the 1920s

Only those who know little or nothing about economics and the very naive did not know in the year 1925 that economic hard times follow good times as economic booms and slumps are cyclical. Still, there were various reasons why even seasoned economists may have speculated that economic prosperity of the 1920s would continue forevermore. Machinery, manufacturing plants and “the process of standardized mass production” were the main reasons for the excitement of the 1920s (Schultz and Tischler). In fact, the economy of the United States continued to grow until 1929. The First World War had encouraged industry to expand. Labor shortages coupled with the need to increase production had stimulated the development of efficient modes of production. Taylorism or…

Economic And Social

In a century of modernisation, the memorable decades shoot the stars of one decade so bright and called the sixties. It was definitely unlike others. It screamed for its entity of liberty, knowledge, power, wealth, thrill, wanted to see a generation through Purple Haze. Taking communication beyond the realm of any hesitation with television and movies; ‘60s are back’. Civil rights marches, urban riot, soldier fighting at Vietnam and citizen protesting back home, students taking over college campuses, hippies in their unconventional dresses with flowers in their wiery hair, rolling on drug and rock music, rock and rolling on spirit of free love. It was a revolution in the air for the social deconstruction through the social and political activism…

Economic And Social Changes In Post 1960

This report is aimed at addressing recent economic events and economic reports. First is analysis of problems of unemployment rate, changes in general price level, total output of goods and services and the ways in which the government raises and spends money. Other areas to be reviewed include examining the relationships between economic variables such as output, employment, interests, money and prices. This is the key variables that determine macro-economic activities and the level of national income in an economy. It therefore analyses the performance of the economy as a whole. Goals of Macro-Economic Policy: The major aims of macro-economic policy in relation to the recent economic events are as shown below. (1)It aims at full employment level in the…

Economic Analysis

The enthusiasm, as well as the anxieties that is generated by the working of the economy of the United States is not just US economy generates is not just obvious but also easy to understand. The United States, with a GDP of 13. 2 trillion USD, and a population of 300 million (with an average yearly per capita income of more than 44,000 USD), is the largest economy of the world (CIA Factbook, 2008). Its currency, the US dollar, even in the throes of its greatest financial crisis, is the world’s preferred currency, and its markets the world’s biggest. In diversity and amount, the natural resources of the country are greater than those of most other countries. Many US industries…

Davos: the World Economic Forum

Davos is a town located on the Landwasser River, in the Swiss Alps, between the Plessur and Albula Range in Switzerland. At 1,560 meters, it is the highest city in Europe. From the middle of the 18th century, Davos became a popular destination for the ailing because the climate in the high valley was proved excellent by doctors and recommended for lung disease patients. Arthur Conan Doyle wrote an article about skiing in Davos in 1899. In the early 90s, Davos became famous worldwide for hosting the World Economic Forum (WEF), an annual meeting of global political and business elites (often referred to simply as Davos) and the home of one of Switzerland’s biggest ski resorts. Organization is defined as…

Economic Development and Culture

According to Easterly (2001), attempted remedies to underdevelopment (like loans, FDI, population control) are generally determined by non-economic factors such as demographic variables, cultural characteristics, and political systems. In the following paragraph, Easterly demonstrated the devastating implication of a single path to economic development in many Third World countries. Now, the assumptions of both classical economists and political economists are under attack. There is one element that both these theories ignored: culture. Sociologists and cultural anthropologists often argued that there is no single path to economic development when culture is taken into consideration. Market institutions and free trade instruments have usually low adoption rates in many underdeveloped countries (Easterly, 2001). The reason is not obvious. Traditional methods of production and…

Reaction Paper on Economic Forum on Philippine Governance

Our country has great potential for mining developments. It was also mentioned by Dr. Habito that mining has contributed significant economic growth for the country. I am working in a mineral exploration company, and I have witness the mining investments flourished when the government made structural changes to the mining laws. More mineral exploration companies opened acquiring mining tenements and pouring in million of investments. Not only that, we generated employment and uplifted the lives of the local communities thru road developments and other rehabilitation programs where our mining area is situated. But as time goes by, the promises of the government were not fulfilled. Rampant “Red Tape” is still present every time we process exploration permits and other pertinent…

Political and Economic Environment Comparison

The political and economic environments between Costa Rica and Mexico have similarities as well as differences. There are strong values and ethical views from both cultures that need to be compared and respected before there is complete understanding. The ability to understand each culture’s description and detailed information will determine how both cultures are able to understand each other and other surrounding cultures with similar views. The political views are discussed from both countries, Mexico and Costa Rica, and the economy is compared and contrasted to show overall cultural develop and growth. Political and Economic Environments of Costa Rica Costa Rica is one of the fastest growing nations right now, it’s government is one that is known as one of…

Economic philosophies

This paper will focus on the contributions of John Maynard Keynes and Milton Friedman to economic philosophies. Keynes is considered by many as the most famous and influential economist. Though having that veneration, a number of economists had been in opposition to the Keynesian school of thought. Among the forefront oppositions to the Keynesian economic philosophy is Milton Friedman, along with his accounts on monetarism. In his “General Theory of Employment, Interest and Money,” Keynes laid out the foundations of his framework, which nearly all macroeconomists make use of today. This framework finds its basis on spending and demand, the factors that determine the components of spending, the liquidity-preference theory of short-run interest rates, and the necessity of the government…

Economic and Financial Committee

This letter is to address the widening gap between the rich and poor in developing nations, and how globalization policies create a situation that lessens that gap. In many developing countries there is simply a poor class and a rich class. Developed nations are characterized by the presence of a middle class. The middle class bridges the gap between rich and poor, and when developing nations can create a fully functioning middle class within their societies, the contrasts between rich and poor seem to deplete. In a viewpoint essay edited by Debra Miller (2008) entitled “Globalization Promotes Democracy Both Directly and Indirectly” this concept is demonstrated. The premise of the article is that globalization efforts create an economic and entrepreneurial…

Why Gdp Is An Inappropriate Measure Of Economic Health

Gross Domestic Product (GDP) is a parameter used to measure a country’s economic development. ‘The Gross Domestic Product measures the total value, calculated in dollars, of all final production in a country. It can be calculated in three ways: by adding up income and profits received from production of goods and services; by adding up expenditures on goods and services (adding money spent on exports and subtracting money spent on imports); and by adding up the value added by labor and capital when inputs purchased from other producers are transformed into output. ’ (Quoted in “GDP: One of the Great Inventions of the 20th Century”). Simply put, the GDP is the total value of all products and services bought and…

Gdp And Economic Welfare

Gross Domestic Product (GDP) is the most important economic indicator and it is used for comparison purposes to see how countries are doing economic wise. It entails the aggregate production or output in a country. GDP can be measured using either the expenditure approach where all final expenditures are added or by the income approach where all compensations of employees and other forms of incomes are added up. GDP is used to measure an economy’s economic growth. Hartzenberg T et al (2005, 114). The real GDP can be used to establish how an economy is performing and hence compare various economies as one can compare their outputs. It is also important in the sense that it can be used for…

Economic conditions

In this essay I’m going to argue that social, political, or economic conditions cannot alter the nature and meaning of art, with specific reference to works of art from Baroque and Rococo epochs. Evaluating a work of art is always a complicated task. Since the perception of art and beauty is highly subjective, it’s hard to think of universal criteria to measure artistic qualities of a certain piece. However, there is a broad consensus among the critics that there are certain criteria they apply when judging an art work. It’s possible to focus on four main criteria to judge an art work. First and foremost, the piece should be aesthetically pleasing, i. e. correspond to the all-common notion of beauty….

Paul Kennedys arguments on the rise and fall of great powers

In the world’s history, the face of the earth has witnessed power supremacy between various countries and states. All along from the Spanish rein in their days on the sun, the Britain, France and now the US. All this scenes on the globe have a significant impact on the relative powers on the either side. The outstanding issue is not the power but forces behind that power rise, sustainability and its fall. Therefore this essay shall examine the ways of measuring this power sustainability according to the Paul Kennedy’s perspective in his argument on the rise and fall of major world powers. Introduction Professor Paul Kennedy argues about how predictable and determinable is the raising and declining of the major powers…

City of Mount Rainier

Neither does the department of Economic Development for the City of Mount Rainier handle nor is it involved with any matrix of the pricing strategy. As the Organization for Economic Co-operation and Development (OECD) in 2006 stated on production, packaging and pricing, production cycle involves a flow from the dealers, employees and customers automatically between the functional areas and internationally. Reduced ‘product to market’ cycle meant to ensure full and on time delivery to customers keeps a business on track by reducing errors, inefficiencies and high running costs. However, the City does offer a mix of products solely based on promoting development of blighted or under used parcels. Thus, it is critical that any incentive or business assistance be directed…

Interview people about the economy

The people of the Orange County are an optimistic bunch. Yet, one can see this optimism slowly fading away into the darkness. For a country which is so close to perhaps world’s biggest entertainment hub, this is not a pretty picture. It would be wrong to blame the people. Little has gone right for the county since the economic recession of 2008, the effects of which are still quite visible. For a county which was already suffering from one of the more serious unemployment problems than compared to the average figures of the United States of America, the recession of 2008 has spelt doom, and its repercussions can still be felt. Take the case of the 34-year old Mr. Matthews…

International Cooperation

The paper “International Cooperation in Economic and Security Affairs, by Charles Lipson, published in the October 1984 issue of “World Politics” focuses on analyzing the different forms of strategic interaction that address issues pertaining to international cooperation in economic and security affairs. It analyzes the use of the Prisoner’s Dilemma theory to help clarify some basic features of international conflict and cooperation as well as some objections for its usage as a model of international interaction. It also discusses factors that affect the relationship between superpowers, the hegemonic system, the effect of recessions, the evolution of cooperation as well as detailed account of sustained economic cooperation among developed nations. The Prisoner’s Dilemma theory demonstrates both the possible benefits from cooperation…

Economic analysis of deposit insurance

Federal deposit Insurance Corporation was an institution set by government back in 1930s to protect depositors fund held by bank. In the great depression of 1930 most depositors lost their fund following the collapse of many banks. After the stock market crash in 1929, financial market was adversely affected and by March 1933 more than 9,000 banks had already failed and this facilitated establishment of FDIC. Henceforth it has been evolving and finding alternative ways of insuring depositors fund against potential bank insolvency. FDIC guarantees a specific amount of deposit and checking for member banks. Since it establishment FDIC paid depositors in 1988 following the banking crisis fueled by high interest rate, inflation, recession and deregulation in the banking sector….

Economic Concepts Involved

The economic concepts involved in this song are basically the credit carts and the loans. Interest rates are also involved as well. Interest is charged by lenders as costs for the loss of the asset’s use. In the process of lending money, the lender could have invested the funds instead of lending them out. With lending a large asset, the lender may have been able to generate income from the asset should they have decided to use it themselves. People started to take loans for housing purposes in America at that time. They wanted to buy houses or to invest these loans or to buy bonds so that they could get more money on returns. Investments are negatively related to…

Information vs Knowledge

1. The community chosen is the community of economists. Some sources they rely on include academic journals, the news (on print, online, television, radio, and others), country reports, economic data, and financial market analyses. 2. One of the sources that could be taken as pure information is the economic data. Economic data sets of data that describe a single economy or the international economy. These data sets are gathered through quantitative information that are collected and computed statistically to give an accurate picture of the economy being studied. Economic data, in their raw form, is not analyzed, and even the analysis that accompany them are usually there to interpret the numbers to make them more understandable to the reader. This…

The Correlation between Corruption and Economic Growth in the Indonesian Model

The success of any economy is often based on the political stability and the presence of corruption of any country. The government policies that are formulated by any countries leaders or economic advisers are watched and followed closely by every investor. The Economic future of a country is dictated by trading partners that are established and relationships between countries and economic blocs. This paper therefore seeks to show the close relationship between economic progress and the corruption in a country. The Indonesian model will be utilized because it allows for a direct examination of the impact given the relatively small size of the country. The main question therefore that this study seeks to address is this. What is the impact…

Article Review

Conducting their study as the transitional funding attached to the peace process in Northern Ireland is reaching its end, the authors examine the role of aid in conflict resolution particularly with regards to intangible outcomes such as identity formation. The idea behind this funding is that it reduces economic disparities between the conflicting groups and that the economic growth started by this funding will continue into the future. These funds come from the International Fund for Ireland (IFI), which addressed unemployment and poverty in Republican / Loyalist communities; the Peace I funds, which promoted social inclusion, cross-community contact, and economic development; and the Peace II funds (ended in 2006), which had similar goals to Peace I but targeted local, grassroots…

Analyze the impact of geography and economic

Geography and economic activity often determine the future of any civilization. Here, one is forced to admit that most of the obvious differences among the ancient civilization can be drawn based on their geographical location and, of course, their economic history (Wells, 561). Let us take the example of Roman and Mesopotamian civilizations. Roman civilization is centered on a powerful city situated on the Capitoline Hills. In the beginning of Rome’s history, most of the people were either farmers or small-scale traders. When Rome expanded into central and southern Italy at the beginning of the Punic Wars, its policy-makers were faced with this fundamental question, “How do we protect our trade interests? ” The answer was expansionism. Rome acquired territories…