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Economy Essay Topics & Paper Examples

Economic Growth in South Africa

1. Strategic Priority 1: Economic Growth and Job Creation. 2. Strategic Priority 2: Massive programme to build economic and social infrastructure. 3. Strategic Priority 3: Rural Development 4. Strategic Priority 4: Education 5. Strategic Priority 5: Health Question Number 2 * Priority 1- Factors beyond the control of policy-makers and stakeholders in South Africa have a big impact on the environment for growth and job creation, and it is difficult to measure achievements by outcomes only. Vulnerability to a weak and volatile global economy remains a significant challenge to job creation, although the recent depreciation of the rand may have helped to protect some jobs in export sectors. * Priority 2- Only 68% of money intended for large infrastructure projects…

Outsourcing or Exporting America

With the new economic slump, many people are trying to find ways to rebuild the economy and find the cause of the downward spiral that has recently plagued our country. In the quack of high unemployment, and many families losing their homes, many of the economists and researchers are looking to the outsourcing of jobs to other countries as the culprit for the dilemma. Is his belief true or false? The answer lies within each person’s individual belief, because politicians do not give all the information available about this new crises and the reason for it. In a year of presidential elections, one only needs to look at the previous election to see that this same topic was prevalent. In…

South Korean Economy

There are goods that cannot be entrusted to the profit-chasing private markets because these markets would fail to provide the goods in the desired quantities. Private markets are incapable of satisfactorily providing services such as education and health care. These crucial goods are classified as merit goods (Auld 1975) because “benefits accrue to others over and above the direct recipients of education and health”. The benefits of comprehensive health and education services might not be appreciated by the private markets and might therefore fail to be supplied in the right measures. Government intervention in such markets is therefore desirable to bring a balance and probably set standards. Government provision of these crucial merit goods, though exemplary, could benefit much from…

The Benefits of Plastic

Plastic has benefited our society in a number of ways. In fact, plastic has helped aeronautics technology take giant steps forward over the past 50 years, including advancements in satellites, shuttles, aircraft, and missiles. As a result, civilian air travel has improved, as well as military air power and space exploration. In addition, the building and construction, electronics, packaging, and transportation industries have all benefited greatly from plastic. Plastics are a subset of materials known as Polymers. These are composed of large molecules formed by joining many smaller molecules together (monomers). Other kinds of polymers are fibres, elastomers, surface coating and biopolymers, such as cellulose, proteins and nucleic acids. Plastics owe their name to their ability to be shaped to…

Kenneth Nierman

Kenneth A. Nierman (born 1954)(1)(2) is Founder and President of the Center for Bankruptcy Planning, and Principal of Adversity Financial Planners. His work to pioneer Financial Planning for Bankruptcy, is unparalleled. Mr. Nierman has been honored for his innovative work in advancing educational and entertaining economic concepts. One of his first economic papers was a discussion of a coming “Great Leveling” of the world economies. His first theorem on this discussion was available in 1987(doc). The Great Leveling was among the earliest neo-economic discussions about the effect s of improved technology in communication, creating a near-perfect, almost instantaneous, flow of information. It was a major factor in the breakup of the Soviet Union, and the early awareness of dictator oppression…

Common Sense Economics Paper

With the recent developments in the economy there could have not been a better time to pick up this book and read it. I work for a financial institution which had received a good amount of TARP funds. This was followed by media on the company’s allocation of resources for what appears to be a recreational purchase equaling almost the amount of TARP funding. In turn to find out company “x” had decided that employees will not be receiving a compensation increase this year. After just the first couple of pages I already knew I wanted to dive in to the first part of the book discussing the “Ten Key Elements of Economics.” This immediately shifted my interest to the…

Unemployment and Labor in the Republic of Moldova

There are a lot of problems created by the unemployment as poverty, migration, human traffic, and crime and shadow economy. Of course, unemployment is a permanent phenomenon in any economy, because frictional and structural unemployment exists every time and doesn’t make unemployment rate to be equal to zero, and in this essay I’d like to offer the analysis of the specific of unemployment and labour forces in Republic of Moldova. Firstly, I propose to analyze the unemployment rate, activity rate and employment rate. Secondly, to describe any characteristics of labour forces in my country. And after that to analyze data about the migrant workers, who work or looking for a job abroad. In general my goal is to demonstrate the…

The Global Economy

The world economy is mostly described by globalization. Globalization is the growth and development of economies all over the world. This is integration and interactions of world’s greatest economies and the development of the emerging market economies. Globalization is not new, since it has existed for thousands of years in terms of the oldest long distance trade across Asia and Europe. Many large corporations have invested in businesses in other counties (multinational businesses) implying that the current characteristics of globalization existed even before the First World War. The recent technological developments (especially ICT-information and communication technology) and economic policies are the major stimulation factors that contributed to increased globalization (Maddison 2001). Current policies aimed at bringing about disinflation have significantly…

Effect of Internal Controls on Financial Performance

Over the past decade, Africa and other developing regions have been in the midst of tremendous changes. Market liberalization and governmental decentralization policies have interfaced with globalization and urbanization trends to dramatically transform social, political, economic and cultural lives. In this context of rapid change, SME operations can no longer remain behind serving only to meet sustenance income for their owners. SMEs engagements have to become a dynamic and integral part of the market economy. The identification of factors that determine new venture performance such as survival, growth or profitability has been one of the most central fields of entrepreneurship research (Sarasvathy, 2004). A multitude of research papers has focused on exploring various variables and their impact on performance (Bamford…

Oil and Non-Oil Economy of the UAE

The general dichotomization of the economy of the United Arab Emirates is into the oil and non-oil sectors. While the aggregate output remains dependent on oil production, the United Arab Emirates is focusing on the development of its non-oil sector as part of its diversification plan. However, its ability to develop fully its non-oil sector depends on the performance of its oil sector. One consideration is the relative contribution of the oil and non-oil sectors to the economy. The other consideration is the ability to the oil-sector to support the diversification plan in the non-oil sector. Abed and Hellyer (2001) explained that in 1998 the production of crude oil accounted for less than a quarter or 22 percent of gross…

Unemployment in America

Here is good news for you: according to the New York Times, the unemployment rate in America dropped to 7.7% which is the lowest rate in four years. But is this rate low enough? The answer is no. The labor market is far from recovery. There are around 11 million people who still need jobs. Throughout American history of unemployment, The United States has experienced 11 recessions since the end of the postwar period in 1948. The U.S. unemployment rate rose steadily from 5% in January 2008 to a peak of 10% in October 2009. For college students, when we graduate and are getting ready for the taste of the real world, we will find out that the real world…

Economic Commentary: Public Good, Market Failure

Paper Edition | Page: 5 Jakarta has long been infamous for its repeated floods, such as those that crippled the capital and all its government and economic activities last week. Over 15,000 people were displaced and the material losses from infrastructure destruction and damage inflicted on personal property have reportedly reached Rp 20 trillion (US$ 2 billion). The devastating impact of the disaster on government activities and public services under the central government’s auspices has revived a debate over the need for the country to move its capital from floodridden Jakarta. Even President Susilo Bambang Yudhoyono, according to his aides, has considered relocation of the capital, albeit as a last resort, as part of an all-out, comprehensive effort to solve…

The Changing Global Economy

The argument for globalisation is an argument for International trade. Classical liberal economists have always argued for the free movement of all factors of production. Adam Smith had declared that nations have absolute advantaged that they leverage to provide cheaper and more efficient production processes. David Ricardo argues in his theory of Comparative advantages that countries must utilize their relatively more abundant factors of production more intensively to produce higher levels of output. All this results in higher output and therefore the world stands to gain through increased trade. Factor mobility leads to stabilization of prices that result from goods and services moving from one place to another where the factor is scarce and fetches higher returns. Those who are…

Global Political Economy

Sustainable development is defined as development that allows us to meet our current needs without destroying the means of livelihood of future generations. There are three basic elements of sustainable development: (1) economic growth; (2) social development; and (3) environmental protection. Undoubtedly, all of these elements concern our world as a whole. Thus, it is essential to acknowledge that the health of the planet is synonymous with the health of the living beings that occupy it. Protecting the health of the planet is the mutual responsibility of all citizens of the world. Since the planet is limited with respect to its size and resources, it is a sure responsibility of all governments of the world to collectively ensure that all…

Global Economy

This paper sets out global scenario of state of affairs of different major national economies of the world. The emergence of a global economy indicates or presupposes interconnectedness of the different national and regional economies. The formal opening a global economy was started by formation of International monetary fund soon after the world war. Because of this, giving of surplus resources of the wealthy countries to the needy ones supplemented by free trade among nations became a reality thus fostering international brother hood and extenuating war possibilities. After all, wars were mostly for economic reasons though there were ideological excuses being argued for the wars so far held. After seeing that global economy is mainly to reduce regional imbalances, it…

Globalization Of The Market Economy

Much has been said how globalization has internationalize the market economy and how this system was able to integrate and create international partnerships between and among nations. Globalization is not just a phenomenon – it is a system, a new world system that has replaced the Cold War. Globalization has transcended economic and political borders without so much undermining the national sovereignty of any nation. This essay will document how the key players and catalysts accomplished the integration of a very complex world market economy, allowing the creation of the so-called global village. Specifically, this essay will look into the following: ? the creation of international bodies collectively known as The Bretton Woods institutions; ? the largest regional trade organizations:…

German Economy

One of the major sectors of German economy is the exports of this country that has accounted for a great percentage of financial output. In this regard, more than twenty-five percent of the national German output has been due to the heavy exports that have increased significantly during the last decade. In the year 2004, GDP of Germany was contributed by forestry, mining, and agriculture sector at a very lesser extent, as compared to the other sectors in the country. Despite Germany is going through a high level of industrial revolution, forest has covered more than twenty-five percent of German’s territory. In the year 2003, more than seventy percent of Germany’s gross domestic product was accounted by services sector of…

Contribution of Small and Medium Scale Enterprises

Introduction The production of goods and services in the most efficient manner has continue to be the only viable and alternative for development of small scale enterprises in Nigeria and for the development, growth and survival of any economy. The development of small scale enterprises not only contributes significantly to imposed standard, they also bring substantial local capital formation and achieve high level of productivity. Small and medium scales are crucial to the development of all economies of the world. They are the modern day’s incubators of job opportunities, they provide the way for developing local technologies, raw materials and serve as the foundation of self-reliance to many countries of the world. Small and medium enterprises predominate all over the…

The Effects of Tourism and Its Impact in the Philippines

Is the proliferation of mega malls in the Philippines beneficial to the country? Why? For me, the rapid growth of mega malls in the PH is not that beneficial to the country because it takes away the opportunities for other small time investors to produce and to build new businesses. There will be less opportunity for others who want to build their own business because of the monopoly they are creating and the center of market. Having the tagline “We’ve got it all for you” , it would just have bad effects for other businesses because many of the consumers will have a mindset of not to go to other stores they will just simply go to these mega malls…

Maximization of Shareholder Wealth

Question: Firms often involve themselves in projects that do not result directly in profits, for example by sponsorship of sporting events of the opera or other entertainment. Do these projects contradict the goal of maximization of shareholder wealth? Why or why not? Answer: Participating in programs that are socially responsible does not contradict the goal of maximization of shareholder wealth. Having a good reputation from your local community is very important for sustaining a business. Although it remains true that spending on social programs could cost a major business millions of dollars, it is the goodwill that is formed through that community that can offer an essential guarantee for the continuation of that firm. For an example, if the Australian…

Difference Between Economic Growth and Economic Development

Economic Growth is a narrower concept than economic development.It is an increase in a country’s real level of national output which can be caused by an increase in the quality of resources (by education etc.), increase in the quantity of resources & improvements in technology or in another way an increase in the value of goods and services produced by every sector of the economy. Economic Growth can be measured by an increase in a country’s GDP (gross domestic product). Economic development is a normative concept i.e. it applies in the context of people’s sense of morality (right and wrong, good and bad). The definition of economic development given by Michael Todaro is an increase in living standards, improvement in…

The World That Trade Created

The topic of The World That Trade Created by Kenneth Pomeranz and Steven Topik is mostly dealing with society, culture and economy. The book takes place all over the world from 1400 to present. The time periods are so interesting because it relates to the modern day economy. It also shapes how our economy came to be, where these ideal strategies for industry and etcetera originated- the cultural and traditional background of societies first using these tactics- and an overall extensive, lively history of economics. The modern day results in success and that is helpful for readers living within the new age society. Corporations are widely discussed today and take on a big role in the growing debate about the…

Accounting Standards

In your opinion are accounting standards necessary and to what extent? Do you agree with the view that mandatory regulations stifle innovation ? why? Give reasons? * Accounting standards are necessary to promote high quality financial reporting. The fundamental role of accounting is to communicate economic information about businesses and other organization to various stakeholders (government, investors, shareholders, suppliers, lenders, customers and the general public). * These stakeholders use such information to take decisions and to assess the stewardship of people appointed to manage such organizations. If this information is not of a high quality standard, then the stakeholders would be unable to take effective decisions that will benefit them. For example, if a financial report is manipulated to show…

Financial Sector Development

ABSTRACT This paper is an attempt to examine the relationship between financial development and income inequality. In doing so, we have used Bangladeshi data for the period 1985-2006. We have employed auto-regressive distributed lag (ARDL) methodology for cointegration. We have also carried out sensitivity analysis and stability tests. Our findings suggest that financial development increases income inequality. Economic growth seems to equalize income distribution. Inflation and trade openness also worsen income inequality. Finally, income inequality is being increased by social spending in the country over long run. This study provides new directions for policy makers to reduce income inequality to share the fruits of economic development among the wider spectrum of the society. Keywords: Financial sector, development, trade openness, income…

How to Solve Scarcity in the Economy

SCARCITY: A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics. Scarcity is a perpetual problem facing society due to limited resources andunlimited wants and needs satisfied with these resources. Scarcity means that society does not have enough of everything (resources) for everyone (wants and needs). Two Components Consider the two sides of the scarcity problem. * Unlimited Wants and Needs: This is a basic characteristic of humanity which means that people are never totally satisfied with the quantity and variety of goods and services. It means that people never get enough,…

Political economy

Most people don’t think about their country’s economy unless it happens to be the nature of their business or unless it somehow directly or indirectly has an impact on the manner of living to which they’ve become accustomed. Economy is the financial circumstance of a country based on its level of prosperity which is determined by the success or failure of it business practices and dealings and proved by the lifestyle of its citizens. The economy is only as good as its management while management is only as good as its political economy. The political economy is a combination of economic and political factors that determine the methods of management or governing. Just what method of governing is best for…

Popular Culture: Effects of Big Corporations on Society

The field of business plays an important role in the economies of various countries as well as the financial robustness of the world market. In this realm, big corporations have larger responsibilities in steering the direction of the economy in terms of the decisions that they make and the operations that they do. Their influence is not merely over other smaller corporations or companies because they also have a great impact in the society. These large corporations affect the society in numerous ways especially when it comes to the different means by which they approach their clients in marketing their products or services. However, the impact of these corporations still needs to be analyzed especially on how they shape the…

The Principle Role of Financial Intermediaries

There are evidences that “financial intermediaries play a key role in improving the performance of the economy”. (Morawski 4) Not to mention that they “could even act as a good predictor of long run rates of economic growth, capital accumulation and productivity improvement” (King and Levine cited in Chakraborty 1). However, what –exactly- is the principle role of financial intermediaries? This is what this essay tries to answer. This essay aims at discussing the principle role of financial intermediaries (banks, investment companies, financial advisors or brokers, credit unions, mutual funds, and insurance companies). The best approach to achieve this goal is to search the literature to study what is written concerning financial intermediaries’ different roles and assess these roles to…

Save Earth

Question 6: Do you think the classification of economic activities into primary, secondary and tertiary is useful? Explain how. The classification of economic activities into primary, secondary and tertiary is useful on account of the information it provides on how and where the people of a country are employed. Also, this helps in ascertaining as to which sector of economic activity contributes more or less to the country’s GDP and per capita income. If the tertiary sector is developing much faster than the primary sector, then it implies that agriculture is depleting, and the government must take measures to rectify this. The knowledge that the agricultural profession is becoming unpopular or regressive can only come if we know which sector…

State of the Economy

The Papua New Guinea (PNG)’s growth in recent years have been shaped in two dimensions: positively and negatively. Negatively when they experienced a drought in 1997/98 when they were adversely affected by the Asian financial crisis . The effect of which caused a sharp contraction in the economic activity. They are stated below as: 1. The kina (the country’s currency) and foreign reserves fell to their lowest levels for some time. 2. Interest rates and inflation remained high in 1999 3. After a brief recovery in late 1999, the kina slid back to record low levels in early 2000. Also problems with budget management and a slump in private sector confidence led to a deteriorating economic environment. Positively when the…