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Economics Essay Topics & Paper Examples

How does a government budget deficit affect the economy

Identify two periods in recent history in which the United States has run budget deficits. What were the reasons for the deficits during those time periods? A government budget deficit occurs when the governments expenses exceeds its revenues. Because of this spending the government has to find alternatives to finance this added expense through borrowing. A government deficit in the long-run can reduce savings, growth, and income. In the short-run if the economy is performing below its output potential deficits are good because it increases expenditures moving output closer to potential. Two periods in recent history when the U. S. was running on a deficit were 2000-2008 and 2008-present. Within the two time periods the country went to war adding…

Assignment on the Contribution of Charles Babbage, Adam Smith and Robert Owen in the Field of Management

Contribution of Charles Babbage in the field of Management Charles Babbage (1792–1871) is known as the patron saint of operations research and management science. Babbage’s scientific inventions included a mechanical calculator (his “difference engine”), a versatile computer (his “analytical engine”), and a punch-card machine. Babbage’s most successful book, On the Economy of Machinery and Manufacturers, published in 1832, described the tools and machinery used in English factories. It discussed the economic principles of manufacturing, and analyzed the operations; the skills used and suggested improved practices. He showed that reducing the tasks of manufacturing to their simplest activities increases the numbers of people who can do them and, thus, reduces the average wage which needs to be paid. According to him,…

Cyprus Financial Crisis

I. Introduction With a population of only 1 million and no more than half a percent of Euro zone economy, it is surprising to find out that the financial crisis in a tiny country called “Cyprus” has enormous global implications (Long 2013). It cannot be also denied that the “Subprime Mortgage Crisis” of the US in 2008 has its downbeat domino effect to the world including European Union and Cyprus. In this report, not only the most critical reasons but also the aftermath of Cyprus financial crisis and possible alternatives which could have been done to ease such economic downturn will be carefully examined. II. Body 1. Main Reasons The root of the crisis lies when Cyprus experienced a terrible…

External Factors

External factors are a number of influencing factors which are not controlled by the company but will impact pricing decisions. It includes of legal, consumer trends, technological, and competitors. Our company focuses on technological and competitor as external factors that influencing price setting on matcha collagen biscuits. Competition factors can look into three areas which are monopoly competition, perfect competition and oligopoly competition. Monopolistic competition is a situation where a single company or group controls the entire output of the market for a given type of product or service with any buyers. Besides, a monopoly is protected from competition by high barriers to entry and the product it produces has no close substitutes. Example of monopolistic competition is water service…

Public Sector Economics

In describing the economic advantages and disadvantages of the proposed tax policy change the advantage is that revenues increase substantially from $9,134 billion to $184,807 billion. From a macroeconomic viewpoint, the more money in circulation, the more money the firms will receive. With a greater amount of funds in circulation the more that workers will have in their net income. This concept stimulates the economy as a hole in a revenue approach and cash in circulation. On the contrary, the disadvantage is that the proposed tax rate was increased by 0. 03 percent, the Finance sector was taxed and no one was zero rated besides Agriculture. In viewing the current law of products; the advantage is that the tax rate…

Indian Economy: Adopting New Approach

After independence, India chartered a path of economic development based on mixed economy, building a new industrial structure around the public sector and a closely monitored, regulated and controlled system where government played the role of licenser in the process of building industry. There were few hiccups in between. In the late 70s Mrs. Indira Gandhi brought in small doses of liberalization. In the mid 80? s Rajiv Gandhi did likewise but the real change came in 1991 when economic crises were looming large on the horizon. India’s economy could be termed as a developing economy which is characterized by the coexistence, in greater or lesser degree, of utilized or unutilized manpower on the one hand and of unexploited and…

International Business

1. Summarize the globalization debate. What are the major interest groups in the world economy? How are they affected by different elements of globalization? 2. Who benefits and who loses from a shift in jobs to low-wage economies? Consider this question from the perspective of consumers, labour, technological change, firms, nation-states. Are the net benefits likely to be positive? 3. Identify and evaluate the sources of conflict between pressures on companies to operate globally and the desire of governments to regulate companies and activities within their borders. 4. Account for the existence of counter trade in the world economy and explore the view that its influence will continue as a solution to the problem developing countries face when attempting to…

Similar Business’s in Different Worlds

A good economy needs to have stability and growth, there needs to be a decrease in inflation and low interest rates to ensure there is access to the appropriate supplier of labour. The welsh government usually uses taxes and spending as a way to control the economy. As the banks work for the government they are able to alter the quantity of money that’s available, in 2009 they provided them with more money to be able to lend more to business’s due to the economic environment at that time. In the year 2008 the UK saw the start to a growing recession, in recent years of 2010, 2011 and even into 2012 Wales recession is still in a bad state,…

Cambridge Consulting Group: Bob Anderson

Assignment: 1. Does Bob Anderson have a problem, or are these the musings of an overly successful partner? Bob has a problem: lack of vision and long range thinking for the business. Bob also has some unresolved issues with his colleague John Burgess, which is affecting his sense of direction. 2. If he has a problem, how would you describe it? He is ignoring important warning signs in his business and personal life, by busying himself with tasks that he enjoys, and that deliver him visible and easily measurable achievements – primarily sales and new business. While business is currently very strong, Bob is personally responsible for too much of the success. Bob’s five vice presidents are craving guidance, training,…

Economics: Portfolio Theory

Sometime during the 1980s, investors on the whole concluded that internationally diversified portfolios produced the best risk-adjusted returns, and that it was possible to identify and trade in a sufficient number of international stocks to make this conclusion a reality. Indeed, performance could also be enhanced by investing in a well-selected mix of stocks from other economies. The lasting benefit of all of international investing, however, depended on a key tenant of modern portfolio theory-that overall portfolio risk was lowered through diversification into noncorrelated investments-which has been shown especially to apply to international investments. The key (to the theory) is the lack of correlation between most foreign markets and one’s own. In a perfectly integrated market, on the other hand,…

Principles of Economics

Lets first start with a question that although is trivial, but will help us understand the answer to this question, a little better. What is economic growth? Economic growth is the increase in the inflow of money within the economy. In other words, it is also the increase in the government’s holding of money. Now, there are a lot of ways an economy can be boosted in order to make the country more efficient. Some people mistake the growth and the stimulation of the economy as the increase in taxes. It is not incorrect to say that the increase in the government’s revenue is highly based on the increase in the tax rate through out the country. This increase in…

Why Study International Business

We the people of the 21st Century live in a world in which the international boundaries which existed before are in the process of becoming a nullity. The few boundaries that do exist are merely superficial and restricted to sensitive national issues. But, the economic walls between countries have been collapsing since the industrial revolution. This phenomenon is due to the paradigm shift in National policies of many countries from being conservative to being radical. There has been such a proliferation of communication that it would not be exaggeration to say that the whole globe is just one nation in terms of economy. But the main catalyst for this process is the ultra progressive advancement of technology in the last…

Effect of Unethical Behavior

The Securities and Exchange Commission was created in 1934 to police the U. S. financial markets. Today, the Securities and Exchange Commission continues to create legislation tightening reporting standards and providing more transparency. Unfortunately, increasing standards often comes after a failure of the system. The Sarbanes-Oxley Act of 2002 is a primary example of legislation following financial market failure. Sarbanes-Oxley influenced public businesses through transformation of the financial system. The July 2002 enactment of the Sarbanes Oxley Act, co-authored by U. S. Sen. Paul Sarbanes of Maryland and U. S. Rep. Michael Oxley of Ohio, followed a series of large public company failures that included Enron, Tyco and WorldCom. Sarbanes-Oxley addressed investor confidence and fraud through reform of the public company…

Regional Integration

The Pacific Forum region seeks a region of peace, harmony security, and economic prosperity. The diversity of its peoples seek value, honor in their cultures. The Pacific Region’s objectives include obtaining respect for its governance, sustainable management of its resources and its democratic values. The partnerships with their neighbors, to improve communications and secure a sustainable economy for all are the primary objectives for its members. Established in Bangkok, Thailand on August 8, 1967 the Association of Southeast Nations (ASEAN) was founded by Indonesia, Malaysia, Philippines, Singapore and Thailand. ASEAN is now comprised of 10 members including Brunei, Cambodia, Laos, Myanmar and Vietnam (ASEAN, 2013). An important and landmark agreement that ASEAN entered into was the ASEAN-China Free Trade Agreement….

The Recent Recession and the Economics of Developing Countries

This paper will be looking into the phenomenon of the recent US recession in light of its relationship with the economies of developing countries. It seems that Keynesian Economics managed to save the US Economy from the inefficiencies caused by the free market economy, but how can such a tragedy be handles in small developing countries wherein governments don’t have the same resources to bailout corporations? This writer believes that it is important to analyze the repercussions of this phenomenon as there are many developing countries whose development and more specifically their economies , are modeled after the economy of the United States. In Episode 1, “The Battle of Ideas,” we saw that Keynes believed that the private sector decisions…

Fundamentals of Macroeconomics

Some of the terms that are frequently used in economics are; gross domestic product (GDP), real GDP, nominal GDP, unemployment rate, inflation rate, and interest rates. Gross domestic product is the money value of the nation’s productivity. GDP is the value of all finished goods and services produced within the country’s border. Real GDP is the market value of the final goods and services produced in a year. Real GDP means that it was adjusted for inflation so it will show a more accurate figure. Without real GDP our market values would look a lot higher than they really were and this helps us when trying to see what our productivity was. Nominal GDP is also known as the current…

Learning Team Reflection

Learning Team D discussed the learning objectives provided for Week Three. Each Team Member posted a response to three informational questions posted by the Team Leader. During week three The Team Members felt comfortable with different topics. Sherly, Andrea and Katrina all felt the most comfortable with the topics dealing with Technology, R & D, and Efficiency which were covered in chapter 11W. Sherly found the topic of invention the most fascinating because it allows people to just think up of an idea, experiment with it and develop it before finally developing it with the intent of putting it out on the market and earning some profits. An example of invention at work is a TV show on ABC called…

We Need a Traditional Chinese Medicine

Kelly Ross said, “The U. S. economy was broken long before the Crash of 2008, but its weakness was temporarily papered over by a real estate bubble in the Bush years. ” (Ross, 2012) It seems like that we are experiencing a financial crisis right now, but the truth is that our economy system is weaker than what we thought. How do we resolve the underlying problems? Think about China, why is China doing so well? Cheaper labor cost, lager export, or huge householder savings? Anyway, let’s go into Chinese’ core values first and then figure out the reasons which may useful for us. The Confucius is the core of Chinese culture and he is also one of the earliest…

Inflation Impact on Economy

Inflation means a rise in prices of goods and services in an economy over a period of time. Inflation is caused by some demand side factors (Increase in money supply, Increase in income, Black money spending, Expansion of the Private Sector, Increasing Public Expenditures) and some Supply side factors (Shortage of factors of production, Industrial Disputes, Increase in exports (excess exports), Global factors, Neglecting the production of consumer goods). Inflation effects the different sectors of the economy (Effects on the distribution of income and wealth, Effects on production, Effects on the Government, Effects on the Balance of Payment, Effects on Monetary Policy, Effects on Social Sector, Effects on Political environment) and different classes of the people (Debtors & Creditors, Salaried…

International business management

1. Regional integration Regional integration is a process in which states enter into a regional agreement in order to enhance regional cooperation through regional institutions and rules. The objectives of the agreement could range from economic to political to environmental, although it has typically taken the form of a political economy initiative where commercial interests have been the focus for achieving broader socio political and security objectives, as defined by national governments. Regional integration has been organized either via supranational institutional structures or through intergovernmental decision-making, or a combination of both. Past efforts at regional integration have often focused on removing barriers to free trade in the region, increasing the free movement of people, labour, goods, and capital across national…

Analysis of the BRICs economy

a) Map the likely evolution of the BRICs. What indicators might companies monitor to guide their investments and actions? Answer: The BRICS are distinguished by their large, fast-growing economies and significant influence on regional and global affairs. As of 2013, the five BRICS countries represent almost 3 billion people, with a combined nominal GDP of US$14.8 trillion, and an estimated US$4 trillion in combined foreign reserves. The BRICS countries encompass over 25% of the world’s land coverage and 30% of the increase in global output during the period. It demonstrates that the BRICS has the huge number of the human resources and land resources that attract a lot of investor come to these five countries to seek investment opportunities and…

Arecanut and Cocoa Production and Marketing Aspects

Arecanut is an important commercial crop in India which plays a prominent role in the religious, social and cultural functions and economic life of people in India. The present production of arecanut in the world is about 0.854 million tons from an area of 0.702 million hectares. India ranks first in both area and production of arecanut Arecanut industry forms the economic backbone of nearly six million people in India and for many of them it is the sole means of livelihood. Both area and production of arecanut in India have increased tremendously during the last three decades. The area under arecanut in India has increased from 0.167 million hectares during 1971 to 0.4 million hectares by the year 2010-11…

Pest Analysis

3. (a) Training program Companies who work hard to meet the needs of their employees can cultivate a work atmosphere conducive to productivity. Being able to plan for the needs of employees by thinking ahead can help to improve the rate of skilled employees who chose to remain working for a company. Improving the employee retention rate can reduce the money companies spend on finding and training new employees. It is important to consider employees may want or need and what the company can reasonably supply. Providing specialized on-site training, even if provided by senior members of the company, and offering one-on-one assessment and coaching sessions, can help employees reach peak performance rates. After being hired on, a strong training and…

Challange Faced by University Students

Education is the most important aspect of learning for every generation established in every mode. In university there are different field of studies with different years of each program. It is obvious that new students are going to face further challenges in university. In this case, these challenges could be the burden which can pull them out of the school without completing their studies. This essay will discuss these challenges in condition of financial, social, and academic. To begin with, financial problems are a major challenge for university students includes tuition fee, rent expenses, and text books. Tuition fee is the most common challenge for these students. Though, for some they only take one or two units per semester because…

Helios

The author makes a point that the corporations should look to the city of Helios for new business opportunities or a new location. Author makes this point on the evidence that the unemployment in the city has been lower when compared to the regional average and that it has historically provided more manufacturing jobs than its share of the region. Further, the author says that Helios is attemption to expand its economic base by attracting companies to focus on Research an developmen of innovative technologies. However, the evidence provided by the author does not straight away lead to the conclusion that the corporations should consider Helios as a new location for seeking business opportunity. The following paragraphs explains how the…

Commanding Heights

In the first episode of Commanding Heights, it begins by showing the world with a global economy that is tremendously suffering by the World War 1 events. After World War I, two extremely cerebral economists tried to solve the world’s economic troubles, John Meynard Keynes and Friederich Hayek. Keynes had the belief that a government in times of economic despair should spend money and go into a deficit in order to build the economy back up and then when the economy is stable again, should then grow a surplus. On the other hand, Hayek believed that for an economy to survive the free market must be allowed to have the power to decide. Just as the textbook states, Hayek believed…

Managerial Economics

Economics can be divided into two broad categories: microeconomics and macroeconomics. Macroeconomics is the study of the economic system as a whole. It includes techniques for analysing changes in total output, total employment, the consumer price index, the unemployment rate, and exports and imports. Macroeconomics addresses questions about the effect of changes in investment, government spending, and tax policy on exports, output, employment and prices. Only aggregate levels of these variables are considered. But concealed in the aggregate data are countless changes in the output levels of individual firms, the consumption decisions of individual consumers, and prices of particular goods and services. Although macroeconomic issues and policies command much attention in the media, the microeconomics of the economy also are…

Character, Nature, Spatial Distribution of World Cities

The nature character and spatial distribution of world cities: Increasing globalisation has had major impacts on the world urban system. As a result a group of cities has emerged as key nodes in the organisation and functioning of the world, known as World Cities. World cities, such as London and New York are a product of cultural and economic globalisation and act as nodal points for the multiplicity of linkages and interconnections that sustain the functioning of the world economy. These cities have developed distinct characteristics as a result of their dynamic nature, and are spatially distributed around the world. Nature: The emergence of World cities has been due to the globalisation of economic activity, which involves the development of…

Why the World Should Be Living Smaller

Why the world should not be living smaller. With an ever-changing world, we cannot afford to be living smaller for the sake of others, let alone ourselves. Our economy is already unstable as it is. If people decide to live smaller, the rotation of money will slow down, only aiding the cease of the economy. Wants drive the economy. People buy what they want, and that keeps money in circulation. The world survives on the economy, and having a slow circulation of money is not going to continue this. When people stop buying maybe excessive, but enjoyable goods they are supporting you, as well as others. But if they stopped doing this, you wouldn’t receive the income. 9. 1% (roughly…

Difference Between Monopoly Pricing and Competitive Pricing

Congress is discussing the possibility of removing patent protection for life saving drugs in order to reduce the cost of the Medicare and Medicaid systems. Discuss both the short-run and long-run implications for the economic situation of the drug industry. Include in your answer the impact on prices, new development, etc. of drugs. Include appropriate graphs showing the difference between monopoly pricing and competitive pricing. The drug industry currently takes on both monopolistic and competitive market structures. When a drug company develops a new drug, there are patent laws that allow the company to have a monopoly on selling the drug. In the short-run, the company is able to charge the monopoly price (above marginal cost) and maximize profit by…