Economic Theory Essays (Examples)

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Economics Theory Popular Concept That

Words: 2089 Length: 5 Pages Document Type: Essay Paper #: 92797800

He would be faced with deciding whether he must spend all his available resources on goods or services, or whether he must save some of his income so that he would be able to finance some of his needs of his future. When he is taken as a labor resource, he must make the decision whether he must use his time in working for his pay, or whether he must spend it on sleeping and other leisure time activities. ("Decision making using marginal analysis," n. d.)

Similarly, when he is a labor resource, he must decide how much of his time he must spend on education, so that he may be able to maximize his life earnings. On the other hand, if he were an entrepreneur, then he must make the decision on how many people he must hire, or how much he must spend on acquiring a new product…… [Read More]

References

Evans, Edward. (2005) "Marginal analysis, an economic procedure for selecting alternative technologies/practices." University of Florida, Institute of Food and Agricultural Sciences. Retrieved 15 December, 2007 at http://edis.ifas.ufl.edu/FE565

Johnson, Paul. M. (2005) "Marginal Analysis: A glossary of political economic terms" Retrieved 15 December, 2007 at  http://www.auburn.edu/~johnspm/gloss/marginal_analysis 

McConnell, Campbell R; Brue, Stanley L. (2005) "Economics, principles, problems and policies" McGraw-Hill Professional.

McEachern, William a. (2006) "Macroeconomics, a contemporary introduction" Thomson
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Economic Theories Marx Viewed Capital

Words: 1511 Length: 5 Pages Document Type: Essay Paper #: 59081437

Both Keynes and Kalecki use Marx's theories as a starting point but quickly moved into new ways of thinking, particularly with regard to effective demand being oriented toward the demand-side. Marx had remained rooted in supply-side demand function, rejecting Say's Law only to note that demand did not necessarily meet supply.

orks Cited:

Marx, K. (1867). Das kapital: A critique of political economy.

Mandel, E. (1995). Marx's theory of crises. International Viewpoint. Retrieved April 24, 2010 from http://www.internationalviewpoint.org/spip.php?article289

Argitis, G. (2003). Finance, instability and economic crisis: The Marx, Keynes and Minsky problems in contemporary capitalism. University of Crete working paper no. 0307.

Green, F. (1991). Marx, Malthus and wages: A comment on Cotrell and Darity. History of Political Economy. Vol. 23 (1) 95-100.

Magdoff, F. & Magdoff, H. (2004). Disposable workers: Todays' reserve army of labor. CBS Marketwatch. Retrieved April 24, 2010 from http://findarticles.com/p/articles/mi_m1132/is_11_55/ai_n6137106/

Sebastiani, M. (1989). Kalecki and Marx…… [Read More]

Works Cited:

Marx, K. (1867). Das kapital: A critique of political economy.

Mandel, E. (1995). Marx's theory of crises. International Viewpoint. Retrieved April 24, 2010 from  http://www.internationalviewpoint.org/spip.php?article289 

Argitis, G. (2003). Finance, instability and economic crisis: The Marx, Keynes and Minsky problems in contemporary capitalism. University of Crete working paper no. 0307.

Green, F. (1991). Marx, Malthus and wages: A comment on Cotrell and Darity. History of Political Economy. Vol. 23 (1) 95-100.
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Karl Marx Economic Theories Overview

Words: 995 Length: 3 Pages Document Type: Essay Paper #: 64646159

Marxian Economics

Karl Marx was one of the most popular and prominent economists the society has ever produced. Born in 1818 in Prussia, Marx would come to activate in fields such as sociology, economy, history or journalism. In his economic activity, he uncovered a series of economic principles regarding the functioning of the society and the economy in the context of capitalism, commonly integrated under the generic umbrella of Marxism. The Marxian theories draw from the Marxist ideology, yet they are considered ideologically independent (oemer, 2002).

The Marxian economic theories oppose the previous theories of Adam Smith, who relied of productivity and wages; Marx, on the other hand, promoted the role of labor to attaining economic gains. Marx contends that the specialization of the labor force leads to a decrease in the wages and that ultimate value of the goods and services is not able to reflect the value of…… [Read More]

References:

Munro, J.H.. Some basic principles of Marxian economics. University of Toronto. http://www.economics.utoronto.ca/munro5/MARXECON.htm accessed on October 1, 2012

Prychitko, D.L. Marxism. Library of Economics and Liberty.  http://www.econlib.org/library/Enc/Marxism.html  accessed on October 1, 2012

Richards, A. (2002). Development and modes of production in Marxian economics: Harwood fundamentals of applied economics. Routledge Roemer, J.E. (1989). Analytical foundations of Marxian economic theory. Cambridge University Press

(2012). Marxian economics.  http://www.investopedia.com/terms/m/marxian-economics.asp#axzz282TzXTAm  accessed on October 1, 2012
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Economic Impacts of Regulation Is a Written

Words: 1536 Length: 5 Pages Document Type: Essay Paper #: 85221461

Economic Impacts of egulation

egulation is a written instrument that contains rules with the force of law (Ogus, 2004). egulation as a process involves monitoring and enforcing rules, established through primary or delegated legislation. egulation usually creates, constrains or limits a right. In addition, regulation creates and limits a duty besides allocating responsibilities (Ogus, 2004). egulation may take several forms depending on its application. These includes legal restrictions made by the government, contractual obligations, which binds several parties together, self-regulations by industries, third party regulation, co-regulation, market regulation, certification and accreditation

egulation made by a state tries to produce outcomes that might not occur (Ogus, 2004). In addition, it attempts to prevent or produce outcomes in various places to what might occur. Through this, regulation becomes an implementation object of policy statements. Examples of regulation include controls on prices, market entries, wages, pollution effects, employment of particular people within certain…… [Read More]

References

Amato, G., & Laudati, L.L. (2001). The anticompetitive impact of regulation. Cheltenham [u.a.: Elgar.

Grabowski, H.G. (2009). The impact of regulation on industrial innovation: [a workshop on the Impact of Federal Regulations on Industrial Innovations, New York, May 2-3, 2008]. Washington: National Academy of Sciences.

High, J.C. (2001). Regulation: Economic theory and history. Ann Arbor: Univ. Of Michigan Press.

Loayza, N., Serven, L., Oviedo, A.M., & World Bank. (2005). The impact of regulation on growth and informality: Cross-country evidence. Washington, D.C: World Bank, Development Research Group, Growth and Investment Team.
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Economics There Are a Number of Different

Words: 702 Length: 2 Pages Document Type: Essay Paper #: 50788131

Economics

There are a number of different metrics that can help to measure the health of an economy. The GDP is one of those numbers, and can be obtained from the Bureau of Economic Analysis. Following a decline of 2.6% in 2009, the GDP grew in 2010 by 2.9%. GDP rates fluctuated by quarter, with a low of 1.7% in Q2 following by escalating growth in the last two quarters. This represents a slow recovery from the steep declines of 2008-2009. Another measure of economic health is unemployment. The current unemployment rate from the Bureau of Labor Statistics is 9.0%, a decline of 0.4 percentage points from December. This rate is historically high, it is lower than at any point in the past year, again showing a sign of slow recovery. A third measure of economic health can be found in the inflation rate. The best measure of inflation is…… [Read More]

Works Cited:

Bureau of Labor Statistics: CPI Detailed Report December 2010. Retrieved February 8, 2011 from  http://www.bls.gov/cpi/cpid1012.pdf 

Bureau of Labor Statistics: Employment Situation Summary. Retrieved February 8, 2011 from  http://www.bls.gov/news.release/empsit.nr0.htm 

Bureau of Economic Analysis: Gross Domestic Product: Fourth Quarter and Annual 2010. Retrieved February 8, 2011 from  http://www.bea.gov/newsreleases/national/gdp/2011/pdf/gdp4q10_adv.pdf
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Economics Part A-Economics and Society

Words: 937 Length: 3 Pages Document Type: Essay Paper #: 69634406

Unfortunately most growth oriented economic policies such as "supply-side" economic policies tend to exacerbate inequality. A greater role of the government in the economy such as increased taxation on the rich can reduce inequality. Inflation and unemployment are usually inversely proportional in most economies, i.e., increase of money supply through deficit financing reduces unemployment but increases inflation while tight monetary policies reduce inflation but increase unemployment. According to a number of analysts, a major cause of terrorism in the world is an acute sense of deprivation among a large section of the population. Economic measures can, arguably prove more effective in rooting out terrorism than military action.

Part C-Theory

What, How and for Whom to Produce:

In 'free market economies' decentralized decision making by individuals and firms based on consumers' desires (which determine the price of goods) and the profit motive determine what goods are produced and in what quantities.…… [Read More]

References

Free Market Economy" (2003). Article in Microsoft Encarta Encyclopedia. CD Rom Version, 2003.

O'Connor, D.E. & Faille, C. (2000). Basic Economic Principles: A Guide for Students. Westport, CT: Greenwood Press.

The Rural Poverty Trap." (2004). Oxfam Briefing Paper # 59. [Available online] Accessed on January 26, 2005 at http://www.maketradefair.com/en/assets/bp59_The_Rural_Poverty_Trap.pdf

According to FAO statistics more than 900 million people live on less than $1 a day in the rural areas of the developing world (The Rural Poverty Trap, 2004)
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Economics in Construction Industry Data

Words: 1716 Length: 6 Pages Document Type: Essay Paper #: 3139551

9%

6.2%

6.3%

6.4%

6.4%

6.4%

Source: Kelly, Herring (2012).

Fig 3: France Construction Growth ate (%)

Source: Kelly and Herring (2012)

Economic theory points out the factors leading to the decline in the construction output in France. Economic theory argues that the changes in demand for construction activities may be due to several economic factors such as changes in Gross National Product, and changes in interest rates. (Finkel, 1997). Akintola and Martin (1994) argue that the level of a national economy is a primary factor that could affect the construction demand in a given economy. Typically, "there is a relationship between construction demand and the growth in GNP, as a measure of the economic well being of a nation." (Akintola, and Martin 1994 P. 9). During the period of economic prosperity, there is a general increase in demand for consumer goods which triggers up the demand for construction activities.…… [Read More]

References

Akintola, A. And Martin, S.R. (1994). Models of UK private sector quarterly construction demand. Construction Management and Economics 12(1):3-13.

Department Business Innovative & Skills (2011). The UK Industry Performance Report with reference to the UK Construction Industry Key Performance Indicators.UK.

Finkel, G. (1997).The economics of the construction industry. Sharpe. UK.

Kelly, R. Herring, S. (2012). Opportunities and barriers to inbound construction. BDO.
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Economics and Housing the Wall

Words: 805 Length: 2 Pages Document Type: Essay Paper #: 30307488

Even though the housing market is slowing, the article speculates that it may take six to eight months before sellers accept that the market has softened and reduce their prices. This demonstrates the economic theory that the supply relationship is a factor of time. Suppliers do not always react quickly to a change in demand or price, but eventually they must. The article suggests that demand will decline 3.5% next year, but that median home prices will still increase by 5%.

Suppliers are beginning to react to falling demand through a decline in price increases and incentives which are really indirect price decreases. That's why this is referred to as a "cooling off" period in the article which mentions that some condo buyers are being offered a car to make a purchase of a condo. The use of incentives may be viewed by the suppliers as a way to mask…… [Read More]

Bibliography

Arnold, Roger A. (2005) / Economics, 7th Edition; South-Western Publishing.

Hagerty, J.R. And Simon, R. (2005, November 15). Housing market shows further signs of cooling. Wall Street Journal. Retrieved from Web site: http://www.realestatejournal.com/buysell/markettrends/20051115-hagerty.html

Housing demand is elastic. (2006, March, 8)

http://www.affordablehousinginstitute.org/blogs/us/2006/03/housing_demand.html
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Economic Crisis and Capitalism

Words: 3179 Length: 10 Pages Document Type: Essay Paper #: 95991899

Economic Crisis

The recession of 2008-2009 and the subsequent government responses provides a good test for economic theories. There are no controlled experiments in economics, so we can only work with case studies in order to understand how economies work. A good starting point is to consider the issue through multiple different lenses, so that we can understand how the crisis occurred and what prescriptions might be best suited for response either to address the root problems or to engage in prevention. This paper will consider the works of Marx, Schumpeter and Keynes in analyzing the financial crisis. All three of these men would have been able to understand its causes, but likely would have taken very different approaches to solving the problem.

The second issue at hand is the question of the future of capitalism. We have a pretty good sense at this point of what the response of…… [Read More]

References

Cox, W. & Alm, R. (2013). Creative destruction. Library of Economics and Liberty. Retrieved December 7, 2013 from  http://www.econlib.org/library/Enc/CreativeDestruction.html 

Eichengreen, B. (2010). The crisis of financial innovation. University of California at Berkeley. Retrieved December 7, 2013 from http://emlab.berkeley.edu/~eichengr/crisis_finan_innov.pdf

Isfeld, G. (2012). Canada's banks shake off global sector crisis. Financial Post. Retrieved December 7, 2013 from http://business.financialpost.com/2012/10/10/canadas-banks-shake-off-global-sector-crisis/

Liu, H. (2008). Too big to fail moral hazard. Asia Times. Retrieved December 7, 2013 from  http://www.atimes.com/atimes/Global_Economy/JI23Dj12.html
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Economics Discussions Production Costs Postal Service USPS

Words: 870 Length: 3 Pages Document Type: Essay Paper #: 65287506

Economics Discussions

Production Costs

Postal Service (USPS) operates at a loss but its closest competitors -- UPS and FedEx -- both operate at a profit. Suggest how fixed costs have contributed to the situation of the USPS. Provide support for your response.

I would suspect that the fixed costs of contributing to employee's retirement funds (Risk Analysis Research Center, 2009, p. 4) and also their restriction from closing local offices (Slentz and McCann, 2009, p. 12) contributes to higher fixed cost at USPS than FedEx because FedEx is not unionized and while UPS is unionized, and thus experiences a fixed cost that is incurred to the level of union contracts, those contracts are more negotiable for UPS than USPS, and nonexistent or fluid for FedEx. Furthermore while union contracts probably affect the rate of closure for physical facilities for UPS, this would probably be more negotiable than for USPS and…… [Read More]

Lemon Law

5. From the e-Activity, compare and contrast the lemon law in two different states and analyze which offers the best protection for the consumer. Suggest what both states could do to improve their laws. Provide support for your response.

The California and Alaska Lemon Laws are largely the same except the California law (State of California Department of Justice 2012) restricts replacement / compensation to vehicles driven under 18,000 miles within the warranty period but the Alaska law (Carlemon.com, n.d.) does not restrict the warranty period by number of miles driven. All states could benefit from a uniform definition of "reasonable attempt" to replace or refund, which depends upon, and thus also entails, a standardization
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Economic Inequality and Austerity Motivator for Revolution

Words: 1289 Length: 4 Pages Document Type: Essay Paper #: 75010866

Economic inequality occurs when there is a gap in the economic well beings of a group of individuals in a given country. In the Arab world, the economic inequality is one of the major factors that leads to the political violence because a discontent generated from a gap has been the major determinant of violent behavior. Typically, income inequality has a strong correlation with mass violence, and the higher the level of income inequality, the higher the probability of mass violence and political revolution. In 2010, a 26-year-old grocery vendor set himself ablaze in Tunisia because the police confiscated his goods. The event took place in a depressed area of Tunisia where the youth unemployment was more than 40%. The uprising occurred on the following day making a large proportion of the population to protest violently. The issue had the traits of a revolution with the aim of obtaining greater…… [Read More]

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Economic View of the Death Penalty in

Words: 1248 Length: 4 Pages Document Type: Essay Paper #: 64823884

Economic View of the Death Penalty

In 1972, The U.S. Supreme Court ruled in the case of Furman v. Georgia that the death penalty, as applied in three capital cases in the state of Georgia was "cruel and unusual punishment and in violation of the Eighth and Fourteenth Amendments. (Hastings and Johnson, 2001, paraphrased) A mere four years later the state of Georgia was once against before the Supreme Court in the case of Gregg v. Georgia, a case in which the decision handed down by the court found that the death penalty was in fact constitutional. (Hastings and Johnson, 2001, paraphrased) The objective of this study is to examine the practice of the death penalty from an economic perspective. Towards this end, this study will examine the literature in this area of study. According to a recent report there are several states considering abolition of the death penalty including…… [Read More]

Bibliography

Dieter, Richard C. (nd) What Politicians Don't Say About the High Costs of the Death Penalty. Retrieved from:  http://www.fnsa.org/v1n1/dieter1.html 

Donohue, John J. And Wolfers, Justin (2004) The Death Penalty: No Evidence for Deterrence. Economist's Voice. April 2004. Retrieved from: http://bpp.wharton.upenn.edu/jwolfers/Press/DeathPenalty (BEPress).pdf

Hastings, L.J. And Johnson, Allan D. (2001) The Illusory Death Penalty: Why America's Death Penalty Process Fails to Support the Economic Theories of Criminal Sanctions and Deterrence. 2001 University of California, Hastings College of Law Hastings Law Journal. Retrieved from: http://litigation-essentials.lexisnexis.com/webcd/app?action=DocumentDisplay&crawlid=1&doctype=cite&docid=52+Hastings+L.J.+1101&srctype=smi&srcid=3B15&key=10b4f49062a2ae4631639988123ab2c5

Saving Lives and Money (2009) The Death Penalty. The Economist. 12 May 2009. Retrieved from:  http://www.economist.com/node/13279051
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Economics Perfectly Legal the Purpose

Words: 1455 Length: 4 Pages Document Type: Essay Paper #: 83961562

For one reason, the super rich are some of the biggest political contributors, and so, it pays Congress to ensure their continued support and fiscal maintenance. He also uses economic theories and trends to illustrate his point and make the text more credible and believable.

Throughout the book, the author shows not only that he deeply understands his material, but he has the ability to explain it so most readers understand it as well. With all the economic information this book contains, it could be dry and uninteresting, but instead, the author presents facts and figures in a way that shows he understands the material, but also has the ability to explain it to others, which is extremely important in this type of book. It is also essential if the author hopes to have Americans read his book, and act on it, which is clearly one of the author's purposes…… [Read More]

References

Johnston, David Cay. Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich - and Cheat Everybody Else. New York: Portfolio, 2003.
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Economic Instability and Ethnic &

Words: 2638 Length: 10 Pages Document Type: Essay Paper #: 7932585



Shift from Central Planning to Market Economy

The Turkish economy is in what might be termed semi-precarious health. It could certainly be worse, but also certainly be better. Since its birth as a nation-state into its current shape in 1923 in the wake of World War I, Turkey has operated a mixed economy, in which both state and private enterprise have contributed to economic development. (Indeed, it is arguable that all country's in the world today have a mixed economy; the United States may be a bastion for private enterprise but many workers also benefit from government money, such as the money awarded by the federal government to private companies in the form of defense industry contracts.) Since the end of World War II, the economy has been transformed from a predominantly agricultural one to one in which industry and services are the most productive and rapidly expanding sectors even…… [Read More]

References

Abramowitz, M. (ed.) (2001). Turkey's transformation and American policy. New York: Century Foundation.

Hershlag, Z.Y. (1998). The contemporary Turkish economy. New York: Routledge Kegan & Paul.

Howe, M. (2001). The Kurdish conflict in Turkey: Obstacles and chances for peace and democracy. London: Palgrave. http://apps.nccd.cdc.gov http://www.imf.org http://www.immigration-usa.com/wfb/turkey_economy.html http://www.rt66.com/~korteng/tudemog.htm

Ibrahim, F. (ed.) (2000). Turkey today: A nation divided over Islam's revival.
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Economic Analysis on Everyday Activities

Words: 1251 Length: 4 Pages Document Type: Essay Paper #: 56028539

Economic Ideas

Economics can be considered as the study of the allocation of scarce resources that have potential alternative uses among the competing and virtually limitless want of consumers in society. The allocation of resources is necessary both at an individual and societal level. Economics considers the manner in which people are organized for economic tasks. Economics is applicable everywhere. Economics should be thought of in all the aspects rather than considering the things in the way they already are. This particular proposal explains the reason cars have their fuel doors on different sides. People line up and fuel their cars at the petrol station. However, it is noteworthy that some cars have their fuel filler door on the side of the driver while others have their fuel filler opening on the side of the passenger. This might be perceived as a normal aspect but is largely linked to economics.…… [Read More]

References

Frank, R. (2009). Why Do Cars Have Fuel Doors on Different Sides? PBS Newshour. Retrieved 28 October, 2015 from: http://www.pbs.org/newshour/making-sense/why-do-cars-have-fuel-doors-on/

Lanteri, A., Vromen, J. (2014). The Economics of Economists: Institutional Setting, Individual Incentives and Future Prospects. Cambridge: Cambridge University Press.

Mankiw, N. (2012). Principles of Economics. Stamford: Cengage Learning.

Marshall, A. (2013). Principles of Economics. New York: Palgrave MacMilan.
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Economic Value Added EVA an

Words: 2228 Length: 7 Pages Document Type: Essay Paper #: 3829808

However, EVA is neither as perfect as claimed by its advocates, nor is it the only performance measure that suggests a path to a superior stock return" (emphasis added) (p. 319).

More importantly, though, while the economic value added measurement approach to financial performance may not be without its detractors, the scholarly literature is consistent in emphasizing the need for such initiatives for companies to remain competitive in an increasingly globalized marketplace today. For instance, in his recent essay, "Profit-Increasing Strategies," Tracy (2006) reports that there are a number of ways for most companies to add value to their product or service. "There are many strategies for generating sales, profitability and wealth in every industry," he advises. "Your ability as an entrepreneur to create a profitable business where no business existed before is the key to your success. In every market, it's usually true that 20% of the businesses earn…… [Read More]

References

Brewer, P.C., Chandra, G., & Hock, C.A. (1999). Economic value added (EVA): Its uses and limitations. SAM Advanced Management Journal, 64(2), 4.

Chen, S., & Dodd, J.L. (1997). Economic value added (EVA Super TM): An empirical examination of a new corporate performance measure. Journal of Managerial Issues, 9(3), 318.

Fletcher, H.D., & Smith, D.B. (2004). Managing for value: Developing a performance measurement system integrating economic value added and the balanced scorecard in trategic planning. Journal of Business Strategies, 21(1), 1.

Mcmenamin, J. (1999). Management: An introduction. London: Routledge.
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Economic Justice and the Mommy

Words: 1214 Length: 4 Pages Document Type: Essay Paper #: 98376423

The question is, how does one decide which path is more beneficial?

John Stuart Mill in Utilitarianism in the Philosophy of J.S. Mill, raised similar concerns when he stated:

"…any, even unintentional, deviation from truth does that much toward weakening the truth-worthiness of human assertion, which is not only the principal of all present social well-being but the insufficiency of which does more than any one thing that can be named to keep back civilization, virtue, everything on which human happiness on the largest scale depends" (p. 349).

Considering that human happiness is a subjective commodity that varies for every individual in its "truth," then whether or not one perceives the mommy track trend to be in line with utilitarian principles ultimately depends on one's personal definition of the greater good. From the utilitarian perspective (i.e. Mill), the wishes of the individual must be forsaken for the long-term "big picture."…… [Read More]

Works Cited

Mill, John Stuart ed. By M. Cohen, Utilitarianism in the Philosophy of J.S. Mill, New York: The Modern Library, 1961. Print.

Morgan-Steiner, Leslie. "Going Places on the Mommy Track" the Washington Post. Web. 29 April 2010.

Palmer, Kimberly. "The New Mommy Track." U.S. News and World Reports (26 August, 2007). Web. 26 April, 2010.

Shaw, William H. Business Ethics. Wadsworth Publishing, 2007. Print.
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Economic Way of Thinking Always

Words: 557 Length: 2 Pages Document Type: Essay Paper #: 61965530

This is circular logic that appears to dehumanize our freedom and minimalize our existence. The atomization of the responsible self is unimaginative and restrictive, I'll choose something else to listen to if I have a choice.

Question 7

Work itself is exploitative in nature. Only when a person can work for himself or herself can exploitation be limited to being self-imposed. Labor and work do not belong to anyone, they are mere expressions of idea, to claim them as a tangible thing is confusing and appears to have a disingenuous motive.

Question 8

Perfection is in the eye of the beholder and even though there are characeristics of a perfect market such as large amounts of buyers and sellers and a shared responsibility, there is undoubtedly some flaw within the system. Perfect markets would require no exchange of money, only ideas as money itself is a market within itself causing…… [Read More]

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Economic Development

Words: 1467 Length: 5 Pages Document Type: Essay Paper #: 89863431

traditional, neoclassical school of economic modeling prescribes a "recipe for economic growth." Economic growth is a process of moving resources from low growth, agricultural areas to higher growth, industrial areas. The neoclassical school also does not see anything slowing the progress of moving from low growth to high growth areas. The neoclassical model in the form of Harrod-Domar model assumes that an increase in savings and investment will lead to economic development. Even though productivity is improved employment does not increase and income does not improve so correspondingly demand for products does not occur. Government intervention has hampered economic development by funneling resources into the wrong types of industries. Instead of taking advantage of industries where a country has a relative advantage, resources have gone to industries that the government wants to develop. One area where the removal of restrictions is essential is in the area of international trade. Increasing…… [Read More]

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Economic Woes Have Shook the

Words: 663 Length: 2 Pages Document Type: Essay Paper #: 81589152

(Major Schools of Economic Thought) This theory was born from the crucible of a Great Depression and a orld ar. Chicago theorists vehemently disagreed. They made the argument that the wealth of nation's increase when the market is allowed to naturally price goods and services. Spending would unnaturally change the prices of these goods, thus changing the reaction of the market to the goods, causing a misallocation of wealth or goods.

According to the Chicago theorists, the role of a government was to make sure individual rights were not trodden upon during market interactions and to mitigate the damage of neighborhood effects. Neighborhood effects are defined by Milton Friedman, the godfather of Chicago Economists, as when, "the action of one individual imposes significant costs on other individuals for which it is not feasible to make him compensate them or yields significant gains to them for which it is not feasible…… [Read More]

Works Cited

Friedman, M. (1955). School Choices. Retrieved June 25, 2010 from the ROLE of GOVERNMENT in EDUCATION: http://www.schoolchoices.org/?roo/?fried1.htm.

The Federal Reserve Bank of San Fransisco. (2010). Retrieved June 25, 2010 from Major Schools of Economic Theory:  http://www.frbsf.org/?publications/?education/?greateconomists/ ? grtschls.html#a8.
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Economics Finance MBA Level

Words: 13568 Length: 50 Pages Document Type: Essay Paper #: 39727750

disrupting America's economic system is a fundamental objective of terrorists

Even as the world continues to struggle with the terrible shock from the September 11 attacks in New York and Washington, one principle lesson has already become clear: disrupting our economic system is a fundamental objective of terrorists.

Prior to September 11, our economic environment was certainly not immune to terror, in comparison to many other nations; we lived relatively terror-free. Now, however, the aftermath of the terrorist attacks serves as a grim reminder that international relations and security developments can dramatically affect economic performance.

US History is replete with countless examples when macro fundamentals are overtaken by what economists refer to as, exogenous shocks -- surprise events that can profoundly and often unpredictably shift political and economic resources, and send even the most accurate forecasts astray. Commodity shocks, such as the two OPEC jolts in the 1970s, are classic…… [Read More]

References

Bagehot, Walter. 1927. Lombard Street: A Description of the Money Market, John Murray, London.

Balbach, Anatol B. 1981. "How Controllable is Money Growth?" Federal Reserve Bank of St. Louis Review, vol 63, no 4, April, p. 5.

Becker, Gary S, Steven N. Kaplan, Kevin M. Murphy and Edward A Snyder. (2002 / winter). "The Economic Effects of September 11," GSB Magazine, University of Chicago's Graduate School of Business.

Bell, Stephanie. 2000. "Do Taxes and Bonds Finance Government Spending?." Journal of Economic Issues, Vol. 34, no. 3, pp. 603-620.
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Economic Impact Australian Mining Boom

Words: 2442 Length: 7 Pages Document Type: Essay Paper #: 88340090

Summary

In the period between 2002 and 2012, Australia experienced a mining boom; a period in which the level of exports increased more than threefold and also the investment made in mining as a percentage of the nation’s GDP increasing from 2 percent to 8 percent. Imperatively, during the mining boom period, there was a significant increase in demand for minerals. This is because of the demand for minerals not only locally but also internationally. Therefore, this caused a rightward shift in the demand curve. This leads to the positioning of a new equilibrium price. The comparative theory best explains the exportation of minerals by Australia and the importation of other commodities from other nations. In this regard, Australia is considered to have a comparative advantage in the production of minerals because it can produce minerals at a relatively lower opportunity cost compared to China. Another aspect that was influenced…… [Read More]

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Economic Basics - Terms and Concepts

Words: 1971 Length: 5 Pages Document Type: Essay Paper #: 14856368

Firm, Labor Markets, and Imperfect Information

Economics

Perfect Competition and Monopolistic Competition

A perfectly competitive market does not have barriers to entry or exit and is characterized by many producers and many consumers, all of whom are price takers -- a term that means the suppliers and the buyers cannot effect the price as they do not have market power ("Competitive Markets," 2014). Monopolistic competitive markets are do have some barriers to entry and exit. Consumers can find substitutes for all of the goods in a competitive market, whereas high product differentiation is seen in a monopolistic competitive market ("Competitive Markets," 2014). Indeed, one of the reasons that a firm can achieve a monopoly for a product is that the business has been successful in its efforts to differentiate a product, as perceived by its customers. The ability of a business to make profits in the long-run is referred to…… [Read More]

References

Blanding, M. (2014, August 11). The business of behavioral economics. HBS Working Knowledge. Cambridge, MA: Harvard Business Review. Retreived from http://www.forbes.com/sites/hbsworkingknowledge/2014/08/11/the-business-of-behavioral-economics/

Cardon, J.H., and Hendel, I. (2001). Asymmetric information in health insurance: evidence from the National Medical Expenditure Survey. Rand Journal of Economics, 32 (3), 408 -- 427. JSTOR 2696362. Retreived from http://www.jstor.org/discover/10.1086/262111?uid=3739920&uid=2&uid=4&uid=3739256&sid=21105862412373

Chiappori, P.A., and Salanie, B. (2000). Testing for asymmetric information in insurance markets. Journal of Political Economy, 108(1), 56 -- 78. doi:10.1086/262111. Retrieved from http://www.jstor.org/discover/10.1086/262111?uid=3739920&uid=2&uid=4&uid=3739256&sid=21105862412373

Polborn, M.K., Hoy, M., and Sadanand, A. (2006). Advantageous effects of regulatory adverse selection in the life insurance market. Economic Journal, 116(508): 327 -- 354. doi:10.1111/j.1468-0297.2006.01059.x. Retreived from http://onlinelibrary.wiley.com/doi/10.1111/j.1468-0297.2006.01059.x/abstract;jsessionid=6D024FB0D715D4C0F4BAAB184E6AF8E2.f02t03
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Economic Costs of Health Care

Words: 720 Length: 2 Pages Document Type: Essay Paper #: 60825567

To cope with these rising costs, many employers will pass them on to their employees, as they are struggling to deal with this challenge (microeconomic factors). In this case, microeconomics is being applied to a macroeconomic issue, with the business forced to utilize them in their unique situation. ("Economic Theories," 2010)

Increased taxes are occurring, because many businesses are forced to pay multiple taxes supporting employee health care costs in different ways. Where, they have to pay employee health benefits and then they are required to indirectly pay Medicare / Medicaid taxes. This is troubling, because businesses are forced to pay more for health care costs, through covering their employees and various taxes. (Johnson, 2010) In this aspect, a macroeconomic theory is being applied, as the overall costs that employers are paying and the taxes for government programs are resulting in double expenses / taxation. ("Economic Theories," 2010)

Once employers…… [Read More]

Bibliography

Economic Theories. (2010). Reference for Business. Retrieved from:  http://www.referenceforbusiness.com/encyclopedia/Eco-Ent/Economic-Theories.html 

Eakin, D. (2004). The Uninsured and Rising Health Insurance Premiums. CBO. Retrieved from: http://www.cbo.gov/doc.cfm?index=5152&type=0

Johnson, T. (2010). Health Care Costs and U.S. Competitiveness. Council on Foreign Relations. Retrieved from: http://www.cfr.org/publication/13325/healthcare_costs_and_us_competitiveness.html
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Economic and Practical Consequences of Balanced Budgets

Words: 923 Length: 2 Pages Document Type: Essay Paper #: 76760886

Balanced Federal Budgets

The federal government has a wide variety of responsibilities, most of which stem from programs that the government has created. Some of these outlays are discretionary, but many are not. The trade-offs for the federal government are usually not a question economics, but politics. The current federal budget for FY2016 shows a deficit of $474 billion. The largest outlays are for social security ($891 billion), other mandatory programs ($627), defense ($589), Medicare ($529) and non-defense discretionary, which covers a wide variety of different programs. Finding $474 billion to cut there -- or some of that money in conjunction with tax increases -- is inevitably going to be a challenge. Much of government spending in the budget is in the form of mandatory programs. Further, many of these are impossible, politically, to reduce. One does not simply cut Medicare payouts without losing a strong voting bloc, for example.…… [Read More]

References

Government Finance Officers Association. (2014). Distinguished Budget Presentation Award Program (Budget Awards Program). Retrieved from http://www.gfoa.co/sites/default/files/BudgetDetailedCriteriaLocationGuideFY2015.pdf

Mikesell, J. L. (2014). Fiscal administration: Analysis and applications for the public sector (9th

ed.). Boston, MA: Wadsworth.
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Job Creation and Other Economic Myths

Words: 2931 Length: 10 Pages Document Type: Essay Paper #: 87329206

Economics

There is a belief, common to economists, that government intervention is necessary to assist economic growth. The current belief that the reason that the economy is faltering is that job growth has faltered, has not altered this perception, even though it probably should have. Recently both the Bush and Obama administrations have tried many different means of stimulating the economy (much as Franklin Delano Roosevelt did during the "Great Depression"), and these means have had varying levels if success. However, despite some small amount of relief and a stronger stock market, job growth remains stagnant and the economy slugs along with it. The efforts of the current administration toward job growth and creation, whether that be in State of the Union speeches or actually policies, have not produced the desired effects. hy is this? Could it be that the Keynesian methods of economic growth and job production are faulty?…… [Read More]

Works Cited

Buzzeo, Fred. "Job Creation and Other Economic Myths." Ludwig von Mises Institute, 2010. Web.

Hazlitt, Henry. Economics in One Lesson. New York: Harper & Brothers, 1946. Print.

Mises, Ludwig von. "Capitalism, Happiness and Beauty." Capitalistic Mentality, 1954. Web.
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Growth Theory

Words: 7085 Length: 25 Pages Document Type: Essay Paper #: 18556923

Economics of New Ideas and Innovations

This research paper discusses the economics of a new idea. Without new ideas and inventions, the economy might very well become stagnant or decline, as predicted by many early economists, who did not understand that impact that ideas and innovative technology had on global markets.

Technology is endogenous in the new growth theory, which holds that technology is a function of the capital and labor used to develop technology, the technology used in that process, and the economic environment. For the purpose of this paper, technology refers to the methods and tools that are used to generate with new ideas and more efficient ways of producing goods and services.

Ideas and technical innovations are crucial to the economy. If a country wants to grow, it must create an environment that encourages entrepreneurs and innovators to generate new ideas. Creating an economic environment that promotes…… [Read More]

Bibliography

Boneuve, K. (2001). Driving Innovation Through Software. The Software & Information Industry Association.

Clement, Douglas. (September, 2002). Creation Myths. The Region.

Farrell, Christopher. (1994). Economists for an Expanding Universe. McGraw-Hill Companies Inc.

Juma, C. 1989. The Gene Hunters: Biotechnology and the Scramble for Seeds. Princeton: Princeton University Press.
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Criticism of the Neoclassical Theory Comparative Economics

Words: 1159 Length: 3 Pages Document Type: Essay Paper #: 81677753

Economics: Neoclassical, Keynesian, And Marxian Theories

Social theories attempt to explain how people interact with each other, and with their surroundings. For this reason, it is believed that social theories shape society, so much so that people will theorize elements in their surroundings based on their life situations and what they experience in their interactions. Towards this end, what one person thinks or believes about a certain aspect may not necessarily be what another person thinks; people hold different theories about how the economy works, and how it influences human interactions - and this is particularly why we have multiple economic theories today. Social theories are broadly categorized into three -- humanism, structuralism, and dialectics. These three have been applied to economic theory to explain how the various elements of the economy interact to realize maximum outcomes. This text demonstrates how the aforementioned social theories have been used to shape…… [Read More]

References

Hackett, Steven. Environmental and Natural Resources Economics: Theory, Policy, and the Sustainable Society (2nd ed.). Armonk, NY: ME Sharpe, 2012. Print

Wolff, Richard and Resnick Stephen. Contending Economic Theories: Neoclassical, Keynesian, and Marxian. Cambridge, MA: MIT Press, 2012. Print

Wolff, Richard. "The New Reading of Karl Marx's Capital in the United States." Professor Wolff's Social Movement Project, 2007. Web. 3 March 2015 http://www.rdwolff.com/content/new-reading-karl-marx%E2%80%99s-capital-united-states
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Economics Optimal Currency Area an

Words: 2259 Length: 7 Pages Document Type: Essay Paper #: 50405286

Thus, a region or nation experiencing economic depression will be unable to use the interest rate lever to boost the economy. Similarly a country with high inflation will be unable to independently raise interest rates to contain inflation. Moreover, Islamic countries, which form a large part of the geography, do not believe in interest rates.

Political barriers -- Political differences between nations make it extremely difficult for them to adopt a common currency. It can lead to a loss in political sovereignty as monetary interests would need to surpass political interests. This is unlikely to be acceptable to most of the nations and the idea of a single currency may be difficult to implement (Gimp, 2008).

Will Pros and Cons change Over Time? Depending On the Country?

The economic conditions to determine a monetary union depend on: the openness and size of the economy involved to trade; the free movements…… [Read More]

Bibliography

BBC. (1997, November 21). European monetary union - pros and cons. Retrieved May 11, 2009, from BBC News: http://news.bbc.co.uk/1/hi/special_report/single_currency/25081.stm

Filho, F.F. (2003). Is it possible to achieve a monetary union in MERCOSUR? (South America). Retrieved May 11, 2009, from Vanderbilt University: http://sitemason.vanderbilt.edu/files/egnZLy/Ferrari%20Filho%202.pdf

Frankel, J. (1999, August). No single currency regime is right for all countries or at all times. Retrieved May 11, 2009, from Princeton University:  http://www.princeton.edu/~ies/IES_Essays/E215.pdf 

Gimp, F. (2008, June 27). A world currency - pros and cons and can it become a reality. Retrieved May 11, 2009, from Piponomics:  http://www.babypips.com/blogs/piponomics/a_world_currency_pros_and_cons.html
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Economic Globalization Has the 2008 Financial Meltdown

Words: 2832 Length: 11 Pages Document Type: Essay Paper #: 9572312

Economic Globalization

Has the 2008 financial meltdown in the U.S. And the ongoing economic crisis in Europe have practically ended the era of economic globalization?

Following the financial crisis that marred the U.S. economy along with other global economies as well as the ongoing Eurozone debt crisis, there have been projected concerns that this predicament would end economic globalization. The purpose of this paper is to assess this claim. Going by Immanuel Wallenstein's World Systems Theory, the political economy of Third World economies and developed economies of the West are mutually dependent. Wallenstein's conjecture is that the growth and expansion of Third World economies relies on constant interaction with Western developed economies seeing as the world is characterized by a structural division of labor where the developing nations of the Third World provide cheap labor and raw materials while the developed economies are the holders of capital and controllers of…… [Read More]

References

Ebrahimi, H, 2012, "John Lewis warns Amazon's tax avoidance 'will drive UK companies out of business" The Telegraph

Held, David; The Open University, eds. (2004). A Globalizing World?: Culture, Economics, Politics (2nd ed.). London; New York: Routledge, in association with the Open University. p. 84.

Katz, I & Christie, R (2011) "Geithner Called Housing Giants Biggest 'Moral Hazard'" Bloomberg

Lynch, Katherine (2003). The Forces of Economic Globalization. Kluwer Law International
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Economic Crisis

Words: 2582 Length: 8 Pages Document Type: Essay Paper #: 52726174

Economic Crisis

The revelation of the financial crisis that unfolded in United States in 2008 is considered to be the worst economic crisis since the Great Depression, 1929. The distinctive causative factors that have contributed to the U.S. economic crisis 2008- 2009 are differentiated by aggravated financial control, higher risks in capital investment, the housing bubble phenomena in relation to the brisk credit expansion. The aggregation of these factors in the U.S. economy directed the economy towards the de- leverage and credit crunches as the bubble burst. The following paper shall be discussing about the degree of correlation between the tax implications policies with respect to the financial crisis in U.S.. The precise review of strong linkages between the taxation and economic crises is the explicit explanation of the crisis that shook America. The paper also highlights the key factors that demonstrated their abilities and rescued U.S. In the economic…… [Read More]

Reference

Carr, D.A. (2011). Responses to Local Fiscal Shocks: Path Dependency Effects of the Clean Air Act. Public Finance and Management, 11(2), 160+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5050180027

Hendrickson, J.M., & Nichols, M.W. (2010). Did Commercial Banks Close Branches in Low-income Neighborhoods in Response to the Cra? Implications for Understanding the 2007-2008 Financial Crisis. Journal of Legal, Ethical and Regulatory Issues, 13(1), 17+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5044499375

Johnson, E.M. (2010, April). Mr. Trust Buster. In These Times, 34, 7+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5041402599

Robinson, S.N., & Nantz, D.P. (2009). Lessons to Be Learned from the Financial Crisis. Journal of Private Enterprise, 25(1), 5+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5037768696
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Economic Crisis Policies US Current Economic Crisis

Words: 2366 Length: 8 Pages Document Type: Essay Paper #: 30617442

Economic Crisis Policies

US current economic crisis is considered to be started from real estate sector. The real sector started to decline in 2006 and it accelerated in 2007 and 2008. Housing prices have fallen from the peak from about 25% so far. The decline in prices left homeowners with no option and they were unable to refinance their mortgages and causes default of mortgages. This default of mortgages and loans swallowed the banks and financial markets such as falling of Lehman's brothers and other anks and blow to rest of economy happened as the whole economy was relying on banks and ultimately it slows down investment in the country and capital flows to other parts of the world like China and India. ank losses cause reduction of bank capital which in turn requires capital reduction thus saving bank from lending. It is estimated that every $100 loss and reduction…… [Read More]

Bibliography

ISR international socialist review. (2009, april). Retrieved from The U.S. economic crisis:causes and solutions: http://www.isreview.org/issues/64/feat-moseley.shtml

Journal of accountancy. (2009, october). Retrieved from The U.S. economic crisis: root causes and road to recovery: www.journalofaccountancy.com/Issues/2009/Oct/20091781

Eyes on wall street. (2011, april). Retrieved from Levin coburn investigates casues of financial crisis: http://www.eyesonwallstreet.com/2011/04/articles/financial-crisis/levincoburn-report-investigates-causes-of-the-financial-crisis/

Rude, C. (2009). World Economic Crisis and Fed Reserve Response to it. Studies in Political Economy.
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Economics -- Profits Costs and

Words: 311 Length: 1 Pages Document Type: Essay Paper #: 99748181



Unlike the situation with retail consumer goods whose production costs can be readily amortized by reduction in cost-per-unit production, the theater does not produce tangible goods. Therefore, the marginal cost of entertaining each additional audience member is so small that it becomes negligible. By increasing ticket prices only a dollar or two, the theater could likely maintain most of its clientele and avoid reducing its appeal to new customers, thereby increasing profits. Diseconomies would not develop unless or until the theater decided to expand its facilities or to purchase additional movies based on the expectation that a full house could be maintained and then experienced insufficient additional patronage to offset those additional costs (McConnell, Brue, & Flynn, 2008).

eferences

Mankiw, N.G. (2008). Principles of Economics. Chula Vista, CA: South-Western

McConnell, C., Brue, S., and Flynn, S. (2008). Macroeconomics. New…… [Read More]

References

Mankiw, N.G. (2008). Principles of Economics. Chula Vista, CA: South-Western

McConnell, C., Brue, S., and Flynn, S. (2008). Macroeconomics. New York: McGraw-

Hill.
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Economics - Macroeconomics Economics Various

Words: 1129 Length: 3 Pages Document Type: Essay Paper #: 75949107

S. The societal system practiced in France serves as a model towards which the U.S. aspire.

President Barack Obama's healthcare reform plan is considered by many as being a socialist experiment that will significantly hurt the economy (CBS, 2009). In opposition, the President has stated that he does not intend to implement a healthcare system that depends on the government. Instead, he would prefer a system in which the government competes with private insurance companies for selling coverage.

The Invisible Hand Principle

The invisible hand principle was developed as an opposition to the protectionist system. This principle is actually a metaphor describing the self-regulating characteristic of the market. In other words, such a system can be implemented due to a combination of factors, like self-interest, competition, supply and demand. Adam Smith, who developed this theory, considered that the action of these forces and their effects are able to allocate resources…… [Read More]

Reference list:

1. Eddlem, T.R. (2009). Obama needs to learn "opportunity cost." The New American. Retrieved February 26, 2010 from http://findarticles.com/p/articles/mi_m0JZS/is_15_25/ai_n32369481/?tag=content;col1.

2. Dorrien, G. (2009). Is the Economic Crisis a Sin? Newsweek. Retrieved February 26, 2010 from http://www.newsweek.com/id/206095.

3. Steele Calls Obama Health Plan "Socialism" (2009). CBS News. Retrieved February 26, 2010 from http://www.cbsnews.com/stories/2009/07/20/politics/main5174417.shtml.

4. Remarks by the President on Financial Rescue and Reform. The White House. Retrieved February 26, 2010 from http://www.whitehouse.gov/the_press_office/Remarks-by-the-President-on-Financial-Rescue-and-Reform-at-Federal-Hall.
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Economic Influences

Words: 433 Length: 2 Pages Document Type: Essay Paper #: 97761093

Economic Influences

John Keynes is one of the most influential economists largely due to his theory of Keynesian economics, which dealt with his modern macro-economic policies (Skorburg, 2009). His work is linked to the Great Depression, partly because he advocated public and governmental spending to base national economies on. His most celebrated piece of literature is General Theory.

Adam Smith is the quintessential Age of Enlightenment economist who published Wealth of Nations in 1776, which posited the viewpoint that free enterprise and laissez faire policies would benefit the free market system.

People wouldn't ordinarily link Karl Marx to a free market system since he advocated the exact opposite of that, a form of communism that results in socialism, but his Communist Manifesto -- which presaged the ussian evolution -- inspired many free market communists to oppose his ideas.

Friedrich Von Hayek's theories, which are included in oad to Serfdom, his…… [Read More]

References

Kates, S. (1999). Top-ten economists: -- one view. www.mises.org. Retrieved from http://mises.org/daily/355

Skorburg, J. (2009). The top 10 most influential economists of all time. www.opposingviews.com. Retrieved from  http://www.opposingviews.com/i/the-top-10-most-influential-economists-of-all-time#
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Economics Country's Economy Is Driven

Words: 1028 Length: 3 Pages Document Type: Essay Paper #: 83619600

These decisions necessarily entail that some potentially productive opportunities are sacrificed in order to make what is estimated as the most productive choice.

Supply and demand refer to specific products and services, the ability to provide these, and the level at which they are desired by the target market. uyers desire a product or services, and therefore demand a certain quantity of these at a certain price. The relationship between the price and quantity of desirability is the demand relationship. Supply is the actual quantity of the product or service that the market can provide. The concept of supply relationship is the correlation between supply and the price received by the supplier, who is willing to supply a certain amount of products at the price received.

The dynamic in the relationship between demand and supply has a direct influence on the efficient allocation of resources within an economy, as well…… [Read More]

Bibliography

NetMBA.com. (2002-2007). Production Possibility Frontier.  http://www.netmba.com/econ/micro/production/possibility/ 

The Times 100. (1995-2008). Demand and Supply. http://www.thetimes100.co.uk/theory/theory--demand-supply -- 239.php

Schenk, Robert. Scarcity and Choice. http://www.netmba.com/econ/micro/production/possibility
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Economics Course Economics Impacts on Many Areas

Words: 1131 Length: 3 Pages Document Type: Essay Paper #: 86387567

Economics Course

Economics impacts on many areas of life subsequently it will impact on many areas of professional life. eflecting on the lessons learned, including the knowledge and skills gained, the real value is in the way that economics concepts can be applied to the real world; not only to explain event that are seen in the macro-environment, but to guide the way personal decisions will be made with that knowledge.

The first indicator of the lessons and concepts taught in the class being absorbed and developing into transferable knowledge has emerged with an increased understanding of the way that the economy operates and the influences which are present in the economy that are driving up prices.

There are many examples of the economic concepts; one example is the way that supply and demand has impacted on oil prices which has had a knock on effect in the economy as…… [Read More]

References

Baye Michael, (2007), Managerial Economics and Business Strategy, McGraw-Hill/Irwin

Greimel, Hans, (2012. April 30), Toyota wants high-volume U.S. Prius output by '15; Hunt is on for N.A. hybrid parts suppliers, Automotive News, p4

Nellis JG, Parker D, (2006), Principles of the Business Economics, London, Prentice Hall.

Scholes, Louise; Siegel Donald S; Wilson, Nick; Wright, Mike, (2012, Feb), Private equity portfolio company performance during the global recession, Journal of Corporate Finance, 18(1), 193.
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Economic Advisor to a Less-Developed

Words: 982 Length: 3 Pages Document Type: Essay Paper #: 26426474

The nation will enforce law and order to protect its public property, regulate monetary frameworks and correct market failures. The government will be responsible for protecting private life of its citizens and property (Grant & Vidler, 2000).

Market and Competition Forces: the country's economy should be designed in such a way that it will promote competition. This is because competition means a fair deal in obtaining results. The government should increase sellers and buyers in the market because this would promote competition thus increasing the quality and efficiency. With competition, the country will be able to control and manage different functions of its economy (Grant & Vidler, 2000). Demand and supply are the prime market forces determining the production of a country produces and the suitable ways to do so.

Market equilibrium, price and output, are determined by market forces. Therefore, I would recommend that any least developed nation to…… [Read More]

References

Bahl, Roy, W. (2008). Land taxes vs. property taxes in developing countries. Cambridge,

MA: Lincoln Institute of Land Policy.

Grant, S. & Vidler, C. (2000). Economics in Context. New York: Heinemann.

Hyman, D.N. (2011). Public finance: A contemporary application of theory to policy (10th ed.).
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Economics There Are Several Factors That Could

Words: 1221 Length: 4 Pages Document Type: Essay Paper #: 26791415

Economics

There are several factors that could contribute to increased demand for owner-occupied housing in the United Kingdom. Given that this demand is presently suppressed by a poor economy, most of the conditions under which demand would increase involve finding ways to boost overall economic performance. One normal policy prescription, lowering interest rates, is effectively off the table with the current rate at 0.5% and the Bank of England expected to maintain this rock bottom rate for the foreseeable future (Oxlade, 2013). Banks could lower lending rates to buyers, but these rates are usually based on spreads relative to the rate at which banks borrow, so there might not be much flexibility for banks to lower rates profitably.

One way would be to boost the economy through fiscal stimulus, government putting money into the economy instead of taking it out. This would create better demand conditions, and would also give…… [Read More]

Works Cited:

Oxlade, A. (2013). Interest rates at 0.5pc for four more years. The Telegraph. Retrieved April 28, 2013 from  http://www.telegraph.co.uk/finance/personalfinance/interest-rates/9922941/Interest-rates-predictions-Four-more-years-of-0.5.html
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Economics Taxes How Can Tax

Words: 705 Length: 2 Pages Document Type: Essay Paper #: 55370867

d.).

Presently the government manipulates the books around in order to compensate for any tax cuts that they give. In reality, the vital thing for the government to do is to discontinue spending money. While this is not always reasonable, it is essential to make sure that the people and corporations of the nation can flourish. Tax cuts, when put into practice for long-term consequences, will offer a momentous increase in the market (How Do Tax Cuts Help the Economy, n.d.).

Due to the model of fairness, cutting taxes is by no means an easy task. There are two distinct notions that are at play. These are horizontal equity and vertical equity. Horizontal equity is the scheme that all people should be taxed uniformly. An instance of horizontal equity is the sales tax, where the quantity paid is a proportion of the object being bought. The tax rate remains the…… [Read More]

References

Cloutier, Richard. (2011). Do Tax Cuts Stimulate The Economy? Retrieved from  http://www.investopedia.com/articles/07/tax_cuts.asp 

How Do Tax Cuts Help The Economy? (n.d.). Retrieved from http://www.taxforuminfo.com/how-do-tax-cuts-help-the-economy/
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Economics There Are a Number

Words: 682 Length: 2 Pages Document Type: Essay Paper #: 24372749

hen I understand what drives people to buy bottled water, I will be in a better position to forecast demand. I expect disposable income, distribution saturation, cleanliness and taste of tap water and price of bottled water will all factor. ith this information, I could understand the price elasticity of demand, for example, or the elasticity of demand relating to any other variable. Going international I would focus on the same, but I would also understand the currency exchange dynamics and the image that my country or region has overseas. In general, however, the types of information I need would be mainly the same, with respect to marketing. ith respect to culture (marketing message) or other such variables unrelated to the economics of the decision, there are undoubtedly some different forms of information that I would need.

Second student: I would want to know what the trends are for bottled…… [Read More]

Works Cited:

Investopedia. (2011). Economics basics: Elasticity. Investopedia.com. Retrieved March 11, 2011 from  http://www.investopedia.com/university/economics/economics4.asp 

No author. (2011). Demand forecasting. Author unknown. Retrieved March 11, 2011 from 10.212.115.113:81/.../Managerial%20Economics/Demand/Demand%20Forecasting.ppt
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Economic Performance Under the Bush

Words: 909 Length: 3 Pages Document Type: Essay Paper #: 8118961



One of the other key measures of our economy is the unemployment rate. This measure provides something of a counterpoint to a growing GDP. The unemployment rate increased in October 2008 to 6.5%. The ability to find meaningful work is a key component of GPI, yet the GDP can grow even if unemployment is high. One of the reasons is that the GDP does not measure wealth distribution. The wealth gap has increased over the past eight years. Average household wealth has increased, but the rate of increase is faster in the top quartile of households. Real wealth in the lower quartiles has stagnated. Again, the GDP would measure the wealth as having grown nationally. But over the past eight years wealth distribution has worsened. hile this clearly constitutes economic success for some individuals, it does not constitute economic success for the majority.

The current account deficit has continued to…… [Read More]

Works Cited

Cobb, Clifford; Halstead, Ted & Rowe, Jonathan. (1995). If the GDP is up, why is America down? The Atlantic. Retrieved November 9, 2008 at http://www.theatlantic.com/politics/ecbig/gdp.htm
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Economic Analysis Durbin Amendment as Part of

Words: 580 Length: 2 Pages Document Type: Essay Paper #: 17154579

Economic Analysis: Durbin Amendment

As part of the Dodd- Frank financial regulatory overhaul passed in 2010, the Durbin Amendment was designed to "reduce costs for merchants that accept debit cards" (Sidel, R. December 8, 2011. PP. 1) by imposing a ceiling on the interchange fees which the banking service industry could charge their clients. As with most government intervention into economic activity, there is well intention to ameliorate perceived market failures, protect consumers, or more strongly regulate business. Yet, the Durbin Amendment demonstrates how externalities arise from beneficent government activity. In this case many small to medium size merchants, and consequently their customers are experiencing higher costs not lower.

Summary

he Durbin Amendment's ostensible goal is to protect merchants from the confiscatory pricing on debit card interchange fees charged by the banking industry. he legislation empowered the Federal Reserve to set interchange prices, "capping merchant customer debit card fees at…… [Read More]

The Durbin Amendment highlights multiple economic tenets; namely how price controls distort economic activity by artificially manipulating the supply and demand equilibrium, the incidence v. burden of taxes and fees, and supply-side drag due to reductions in innovation. Further explication of these concepts is warranted to illustrate the externalities of government intervention.

The interchange fee is fundamentally a price control, with a ceiling placed on the debit card transaction fee of 21 cents. A price ceiling in this case is placed below the market rate for interchange fees of 44 cents, and causes merchants to increase quantity demanded at the lower price, but equivocally witnesses banking institutions decreasing quantity supplied. As with all price ceilings, shortages result as the equilibrium price and quantity are distorted. In this case the shortages appear not only in transactions, as "consumers are encouraged to shift from debit cards to more profitable alternatives such as credit cards" (Zywicki, T. September 29, 2011. PP. 2), but also with banks recouping lost revenue through higher fees on other bank services.

As just noted, the impact of the price control is the change in behavior of buyers and sellers in what was an equilibrium market, but in typical fashion the effect is harmful to those the regulation meant to protect. Here the idea is that the incidence of a tax, fee, or price control is far different from the burden i.e. those who ultimately pay its cost. In the attempt to help merchants, the Durbin Amendment has in fact increased interchange fees for the small business owners. "Overnight, the variable costs of a transaction have tripled…my
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Economic Value Added EVA Accounting Practice

Words: 1266 Length: 4 Pages Document Type: Essay Paper #: 85047464

Economic Value Added (EVA) Accounting Practice

Although Economic Value Added (EVA) is not a new concept in economics and financial theory and is based on the 19th century concept of "economic profit," it has only been widely adopted recently by business firms as an accounting practice. In this paper we shall describe what EVA is, and look at its pros and cons from the point-of-view of the company adopting the practice and the investors. We shall also discuss how EVA differs from some other emerging accounting practices and the major issues relating to EVA as compared to other commonly used accounting principles. Finally, the possible problems and opportunities that a company adopting EVA principles can face shall be examined.

What is Economic Value Added (EVA)?

Economic Value Added (EVA) is the after-tax cash flow generated by a business minus the cost of the capital it has invested to generate that…… [Read More]

References

Keen, Peter. (1999). "Economic Value Added.(EVA)" Every Manager's Guide to Business Processes. Retrieved on April 20, 2003 at http://www.peterkeen.com/emgbp007.htm kel inen, Esa. (1998). "Economic Value Added as a Management Tool." Retrieved on April 20, 2003 at  http://www.evanomics.com/ 

Shand, Dawne. (October 30, 2000). "Economic Value Added." COMPUTERWORLD. Retrieved on April 20, 2003 at http://www.computerworld.com/managementtopics/management/itspending/story/0,10801,53001,00.html

Stewart, Bennet (1999) "What is EVA?" Stern Stewart & Co. Web site. Retrieved on April 20, 2003 at http://www.sternstewart.com/evaabout/whatis.php

This cost reflects both the time value of money and compensation for risk -- the more risk associated with a firm, the greater the firm's cost of capital.
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Economic Institutions the History of

Words: 1101 Length: 3 Pages Document Type: Essay Paper #: 11826980

That is, international financial organizations, such as the World Bank and the International Monetary Fund and which controlled by core states, decide that, in order to grant financial aid to undeveloped countries, these states should comply with some rules that are, in the end, in the detriment of their own economy. For example, Africa pays more to the IMF and World Bank, than it collects in credit from them, and this leads to low living standards, poor education and health systems and undeveloped infrastructure.

Besides financial institutions, transnational corporations have a saying in the economic development of a country. Although one might be tempted to say that a corporation, by creating a branch in an undeveloped country gives that economy a boom, it is actually all about personal gain.

Working in a corporation might be considered the best thing that could happen to a person, on a professional scale. You…… [Read More]

References

Chomsky, Noam. "DRCNet Interview: Noam Chomsky." Drug War Chronicle Aug.2002. Drug Reform Coordination Network. Washington DC. 2.08.2002.  http://stopthedrugwar.org/chronicle-old/223/noamchomsky.shtml .

Korten, David C. "When Corporations Rule the World." USA: Berrett-Koehler Publishers; 2 edition, 2001

Kozol, Jonathan. "The Shame of the Nation. The Restoration of Apartheid Schooling in America." New York: Crown Publishers, 2005

Wallerstein, Immanuel. "The Modern World-System: Capitalist Agriculture and the Origins of the European World-Economy in the Sixteenth Century." New York: Academic Press, 1976
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Economic Crash Through the Works of Wessel Lewis and Sorkin

Words: 2728 Length: 8 Pages Document Type: Essay Paper #: 61217064



Sorkin's book does a good job of giving the details on what happened among Lehman Brothers, Barclays, JP Morgan, Goldman Sachs, the Fed, and Big Gov following the collapse. Essentially, everyone had egg on his face -- but some of the bigger powers had the muscle to save face -- and sink competitors at the same time: which is exactly what Goldman Sachs did to Lehman. Goldman had been placing its cronies in the hite House for years -- and it would now go through the hite House to see who got bailed out and who did not. AIG got one -- because it owed a large chunk to Goldman (who had figured out the game ahead of time and started betting against itself by buying insurance through AIG). Sorkin's work is a work full of the kind of details that other writer's like Taibbi and Lewis do not take…… [Read More]

Works Cited

Lewis, Michael M. The Big Short: Inside the Doomsday Machine. New York, NY: W.

W. Norton & Company, 2010. Print.

Sorkin, Andrew. Too Big to Fail: the inside story of how Wall Street and Washington

fought save the financial system -- and themselves. New York, NY: Penguin, 2010. Print.
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Economics a Price Discrimination Strategy Is One

Words: 1288 Length: 4 Pages Document Type: Essay Paper #: 97945151

Economics

A price discrimination strategy is one where different customers are charged different amounts. The price charged for my shop's submarine sandwiches will therefore be different for locals than for visitors. There are a number of ways to achieve this. In the context of a sandwich shop, the prices are going to be listed publicly on the menu, so it is impossible to openly discriminate with respect to prices. One technique that can be utilized to lower the average cost for each sub-for locals is to offer a loyalty card. The local would then receive either a discount or a free sub-after making enough purchases. This would deliver a lower price to locals in the long run. Alternately, a loyalty club can allow the locals to receive discounts if they are members of the club. A certain amount of annual sales would be required for club membership, or even a…… [Read More]

Works Cited:

Investopedia. (2010). Perfect competition. Investopedia. Retrieved October 16, 2010 from  http://www.investopedia.com/terms/p/perfectcompetition.asp 

ACC. (2010). U.S. antitrust agencies issue revised merger guidelines. Association of Corporate Counsel. Retrieved October 16, 2010 from  http://www.lexology.com/library/detail.aspx?g=cf23ba87-0ed6-4db5-9739-d7cf74bcdf8f
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Economics Observing the Influences That Impact Market

Words: 829 Length: 2 Pages Document Type: Essay Paper #: 35423045

Economics

Observing the Influences that Impact Market Equilibrium

Purchasing fresh produce in a farmers market offers an opportunity to buy direct from a supplier. The process of buying fruit and salad items direct from the suppliers, rather than though an intermediary such as a supermarket, increases the exposure of the purchaser to price fluctuations. Visiting the market, which is held every weekend, over a number of weeks it was possible to see how different influences would impact on the supply and demand for the products, and how this impacted on the prices. The prices of the little gem lettuces appears to be one of the more sensitive products; this may have been due to their short shelf life. These lettuces, unlike other produce, are not suitable to be held for any period in cold storage, so there is not the ability to hold a supply ready for the peak demand.…… [Read More]

References

Baye Michael, (2007), Managerial Economics and Business Strategy, McGraw-Hill/Irwin

Nellis JG, Parker D, (2006), Principles of the Business Economics, London, Prentice Hall

The paper is written generically, so this may be changed for other produce items with a short shelf life.

The price may be changed as needed
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Economics Developing World

Words: 1285 Length: 4 Pages Document Type: Essay Paper #: 97220565

Economics

The condition of global financial stability implies that the world's financial institutions are healthy, that macroeconomic risks are within normal bounds and that the risk environment including appetite for risk is at normal levels (IMF, 2014). There are differences between the ways that the macroeconomic environment affects the developed and developing worlds, and this paper is going to focus on the latter. The economic structure and vulnerability levels of the developing world, as well as their often-reduced participation in the global economic system create different reactions to the condition of global financial stability.

Global financial stability as a condition is fostered by the economic health and stability of the world's largest and most interconnected economies. The European Union, United States, Japan and other modern nations contribute to the prevailing conditions in the global macroeconomic environment. These economies tend to be highly interconnected. For example, when issues emerged in U.S.…… [Read More]

References

Els, F. (2014). Mongolia foreign investment craters 70%. Mining.com. Retrieved November 15, 2014 from http://www.mining.com/mongolia-foreign-investment-craters-70-79577/

IMF. (2014). October 2014 Global Financial Stability Report. International Monetary Fund. Retrieved November 15, 2014 from http://www.imf.org/external/pubs/ft/gfsr/2014/02/index.htm

Lange, J. (2010). Mexico sees 2010 FDI bouncing back. Reuters. Retrieved November 15, 2014 from http://www.reuters.com/article/2010/05/04/us-latam-summit-mexico-investment-idUSTRE64351D20100504

Reuters. (2014). Mexico saw record $35 billion in foreign direct investment in 2013. Reuters. Retrieved November 15, 2014 from http://www.reuters.com/article/2014/02/23/mexico-fdi-idUSL1N0LS0A220140223
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Economics the Dominant Economic Theme

Words: 1262 Length: 4 Pages Document Type: Essay Paper #: 35208956

ealth does not equate to happiness, a sense of purpose, dignity or respect. One of the key underlying assumptions of neoliberal philosophy, as derived from Milton Friedman, is that financial wealth is the ideal end goal of all activity. hile financial wealth solves many problems it does not solve all problems. Opponents of globalization, whatever their other arguments, incorporate this understanding into their protestations.

Naomi Klein goes further, suggesting that the unequal wealth distribution in the globalized economy is deliberate. The march towards globalization is not an altruistic endeavor borne of a firm belief in the power of the free market, but is a calculated strategy on the part of the world's elite to seize the world's wealth and power at whatever expense is necessary. Indeed, any economic benefits realized by the masses are incidental. Casualties -- be they citizens of Iraq, indigenous peoples or indeed any of the world's…… [Read More]

Works Cited:

Harvey, D. (2007). A Brief History of Neoliberalism. New York: Oxford University Press.

Klein, N. (2007). The shock doctrine: The rise of disaster capitalism. Toronto: Random House.

Friedman, T. (1999). The Lexus and the olive tree. New York: Farrar Straus Giroux.

Appiah, K. (2006). The case for contamination. New York Times Magazine. Jan 1, 2006.
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Economics the Great Depression Origins

Words: 3519 Length: 12 Pages Document Type: Essay Paper #: 42829294

The downward spiral of deflation, the collapse of countless banks and other financial institutions, and the unprecedented levels of unemployment all demanded that something be done.

The programs that constituted President Franklin Delano Roosevelt's New Deal were not entirely unknown in the pre-Depression world. Various European countries already possessed social welfare schemes to some extent, but in the United States this was largely new thinking. The changes wrought by the New Deal reflected as much the uniqueness of conditions during the Great Depression as they did the undercurrent of new attitudes and ideas that had gradually been taking hold among America's intellectuals.

FDR's planners acted in the context of changing values, an evolving set of institutions, shifting political and economic circumstances, and the ebb and flow of planning opportunities to create a distinctly national, American form of planning.... They were part of a wide-ranging national debate over how to create…… [Read More]

Works Cited

DUMMY CITATION #1 G.M., Blaauw, G.A., and Brooks, Jr., F.P. "Architecture of the IBM System/360," IBM Journal of Research and Development, Vol. 44, No. 1/2, IBM, January/March 2000 [Reprint of IBM Journal of Research and Development, Vol. 8, No. 2, 1964.]

DUMMY CITATION #2 Anderson, Philip, and Michael L. Tushman. "Technological Discontinuities and Dominant Designs: A Cyclical Model of Technological Change." Administrative Science Quarterly 35.4 (1990): 604fl.

Gibbons, Jim. "Gibbons Tells Congressional Committee to Abolish Arbitrary FAA Retirement Age: Nevadan Calls Current Federal Rule, 'Blatant Age Discrimination.'" Press Release, (United States Congress, Washington D.C., 12 March, 2003).

Wilkening, Robin. "The Age 60 Rule: Age Discrimination in Civil Aviation." (No Date). URL: http://aeromedical.org/Articles/age60.html.