Economics Essays Examples

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The study of economics focuses on the study of the production, consumption, and transfer of wealth. Because wealth is defined in a wide variety of ways, the study of economics can be construed narrowly or broadly, and is interrelated with the study of sociology, philosophy, history, psychology, and culture. Economics is viewed, by some, as the study of scarcity, but economic principles apply even when resources are not scarce. It is also considered the study of resources. Many people believe that economics is primarily about money or financial resources because economic study focuses on topics like banking, wealth, and finances. However, economics is not synonymous with finance. Finance refers to the management, creation or study of money, banking, credit, investments, assets and liabilities. It consists of financial systems and financial instruments and is divided into three sub-categories: public finance, corporate finance, and personal finance. Economics includes those areas, but is not limited to them. Furthermore, an education in economics is not only useful in economics-specific careers such as accountant, economist, financial risk analyst, investment analysis, and statistician, but also teaches skills that are transferable to other areas and industries. Macroeconomics examines the economy from the broader perspective. It looks at economic trends including: inflation, deflation, recession, depression, price levels, wage levels, employment, unemployment, gross domestic product, national income, and rate of growth. Macroeconomics is concerned with monetary policy, which, in the United States, is set by the Federal Reserve, often referred to as the Fed; international trade policies; tax policies; aggregate demand; and aggregate supply. Microeconomics examines the economy from a narrower perspective. It looks at how individuals, whether people or firms, interact in the market, and at specific buyer-seller transactions. However, in an increasingly global economy, with large firms dominating some areas of industry, it can become difficult to separate microeconomic and macroeconomic studies. Elasticity refers to the change in consumer demand. Demand for some products remains fairly stable, regardless of fluctuations in price. For example, the demand for water is fairly non-elastic. However, when there are substitute goods available, demand for a product may be very elastic. Microeconomics also examines income distribution, particularly income inequality. It also looks at how different types of ownership can alter the basic rules of supply and demand. For example, monopolies and oligopolies, where either a single or a small number of companies control all of a product, can artificially inflate prices. Another critical component of economic studies is an understanding of supply and demand. Demand refers to how willing people are to purchase a particular product. In other words, what is the desire or need for that product. Supply refers to how much of the product is available. Supply does not refer only to the total amount of the good or resource that is available, but to the amount of the resource or good that is accessible. Generally, as demand rises, prices also rise, and sellers are likely to make a greater supply available at that cost. However, as supply rises, then the price that can be charged for the item tends to drop, even if there is no decrease in overall demand, because consumers can search for a less expensive option. Market equilibrium refers to the market price at which buyers will buy the same number of goods that sellers are willing to sell at a particular market price.

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Economic Growth and Happiness Economic Growth Can

Words: 1551 Length: 6 Pages Document Type: Essay Paper #: 15659208

Economic Growth and Happiness

Economic Growth Can Lead to Healthier and Happier Societies

More Availability of Goods

Higher Income

Increase in Tax Revenues and Better Welfare Programs.

Increase in Purchasing Power

Technological Advancement

Health Industry Benefits

Business Sector Benefits

General Benefits

Reflective statement

Economic Growth Can Lead To Healthier and Happier Societies

Economic growth has long been termed as the precursor to any society's success, and in this paper, we shall be looking at various aspects of economic growth that are directly correlated to happiness in the society, as well as those that negate this causality leading us to wonder whether all the technological progress in the world can eventually lead to happiness.

There are various factors that impact happiness where geography is a consideration in the sense of the location of a country has an important part to play in terms of its cultural values, and the manner in which happiness is defined in the culture. The progress that the country has made in terms of the economic bloc it belongs to as the U.K. has being part of the EU; its history also plays an important part in how happiness is defined. (Megan, 2009) Consider that U.K. is…… [Read More]

Works Cited:
Fribbance, I. (2009). Economic wealth and happiness. Introduction to the social sciences . Open University.

Fribbance, I. (2009). The changing UK economy: making a greener and happier society? . London: Open University.
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Economic Final Report

Words: 1491 Length: 4 Pages Document Type: Essay Paper #: 81471613

Economic Systems:

An economic system is basically described as specific set of principles that addresses the production, distribution, and consumption of products and services. The involved parties in the production, distribution, and consumptions processes are usually determined by or dependent on the economic system. Throughout the history of humanity, different types of economic systems have evolved because different societies have placed varying emphasis on distinctive goals and priorities as part of their efforts to obtain answers to certain economic questions. In addition, the difference in economic systems is fueled by the tendency by different societies to develop very broad economic approaches to manage their resources. One of the main reasons for the development of different economic systems is to address the challenge of scarcity. The challenge of scarcity is an essential problem that confronts individuals and nations. While there are four major types of economic systems recognized by economists, there are still huge disagreements on the system that effectively addresses the challenge of scarcity.

Types of Economic Systems:

As previously mentioned, there are different types of economic systems that have been developed by different societies to deal with the challenge of scarcity. The four basic types of economic systems that…… [Read More]

Bibliography:
"Economic Systems." Hilliard Bradley High School. Hilliard Bradley High School, n.d. Web. 18 Mar. 2013. < http://brd.hilliardschools.org/wp-content/uploads/Economic-Systems.pdf >.

"Factors of Production." Enotes.com - Study Smarter. Enotes.com, Inc., n.d. Web. 18 Mar. 2013. .
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Economic Final Report

Words: 1317 Length: 4 Pages Document Type: Essay Paper #: 87075797

Economic Final Report

Types of economic systems

Economic systems vary from one nation to another. Traditional economic systems refer to an economic system founded by tradition. The services and goods that people provide through the work they do, how people exchange and use the resources are trends that follow permanent patterns. These are not dynamic economic systems because there are minimal changes. In this economic system, people live on static standards. They do not enjoy much occupational mobility and financial mobility (Gregory and Robert 19). However, it is possible to predict economic relationships and behaviors. People are aware of what they are expected to do, why they trade, they know what others should give to them. In traditional economic systems, the interests of the community are of great priority than individual interests. People collaborate at work and labor proceeds are shared equally. However, in some traditional economic systems, individuals respect some personal privacy. However, it comes with restrictions as such individuals are given a strong obligation set, which they owe to the entire community. In the current world, traditional economic systems are being applied in the workplace among Aborigines of Australia and other minority groups (Conklin, 15).

The next economic…… [Read More]

Resources:
Conklin, David W.; Comparative Economic Systems: Objectives, Decision Modes, and the Process of Choice. Cambridge [England: Cambridge University Press, 2009. Print.

Gregory, Paul R, and Robert C. Stuartl; Comparative Economic Systems. Boston: Houghton
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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 the market. Economic experts have argued that even in the midst of the global financial meltdown in the U.S. along with the ongoing Eurozone economic crisis, economic globalization remains intact. This has become possible through the decision by the governments to rescue companies from the debt crises.

Economic Globalization

While…… [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.
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Economic Trends in Terms of Output and

Words: 1232 Length: 4 Pages Document Type: Essay Paper #: 87710504

Economic Trends

In terms of output and growth, Canada's real GDP was 2.96% higher than it was a year ago, but the growth trend is slowing down from a growth rate high of 3.81% in Q3 2010. Japan's economy has contracted in Q2 2011 by 0.76%. It's rate has been volatile, growing rapidly over the past year only to contract again. The UK's growth rate is 1.63%, and that country has had fairly stable, if sluggish, real GDP growth. The current GDP growth rate in the United States is 2.33%. Real GDP growth is on a downward trend in the U.S. But has maintained healthy levels since Q4 2009.

All four countries were affected by the recession. Each experienced real GDP declines during the 2008-2009 period. Japan was the hardest hit. Yet each nation recovered in 2010, only to see the rate of economic growth slow again in 2011.

Canada showed weakness during the recession years of 2008 and 2009 with respect to output per worker. The productivity rate has improved since the beginning of 2010 but in this calendar year has begun to decline again, in step with the country's GDP growth declines. Japan's labor productivity (output per worker)…… [Read More]

Sources:
BoC. (2011). Inflation control target. Bank of Canada. Retrieved October 20, 2011 from http://www.bankofcanada.ca/monetary-policy-introduction/framework/inflation-control-target/

Estrella, A. & Trubin, M. (2006). The yield curve as a leading indicator: Some practical issues. Federal Reserve Bank of New York. Retrieved October 20, 2011 from http://www.newyorkfed.org/research/current_issues/ci12-5/ci12-5.html
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Economic Crisis the Revelation of the Financial

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 crisis.

Introduction

The recent financial crisis reported in U.S. has followed the roots of the antecedent financial crisis that took roots in 2007 as the crisis of U.S. housing market. The crisis had a multiplier effect and the adverse consequences were reportedly spreading throughout the world, and proved to catalyze…… [Read More]

Works Cited:
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

Soederberg, S. (2005). Recasting Neoliberal Dominance in the Global South? A Critique of the Monterrey Consensus. Alternatives: Global, Local, Political, 30(3), 325+. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5012124245

US Economic Crisis Will Be My Priority, Vows Obama. (2008, November 7). Daily Post (Liverpool, England), p. 14. Retrieved March 9, 2012, from Questia database: http://www.questia.com/PM.qst?a=o&d=5030141675
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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 Banks 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. Bank 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 of bank capital would cause $1trillion reduction in bank lending. (ISR international socialist review, 2009)

Critical Analysis of the Causes of Current Economic Crisis

The current depression is said to be biggest since the great depression of 1930's.There are many causes of current economic crisis. Some of them are discussed…… [Read More]

Resources:
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
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Economic Indicators Savings Rate Economic

Words: 1288 Length: 3 Pages Document Type: Essay Paper #: 95519489

This economic indicator can be used to determine inequality within a given region or area. It can also be view the capacity for individuals within a particular nation to consume

b. Rate of Value- $41,560

c. Source of Information- "Per Capita Personal Income U.S. And All States." Per Capita Personal Income U.S. And All States. Bureau of Business & Economic Research, 12 Oct. 12. Web. 02 Feb. 2013.

d. Date of information- September 2012

6) Housing Starts-

a. Economic Indicator- Housing starts are usually indicated by the number of privately owned, new houses, under construction within a given period. This data is usually comprised of three, very distinct components of single family houses, condos, and apartment buildings. Housing starts are very important economic indicators as housing is a substantial component of the middle class family's net worth. Home ownership is also a means by which are other industries are successful. Aspects such as carpet, brick, appliances, lawn care, and others, all benefit from a robust housing market. As such, housing, and housing related industries comprise a substantial amount of the overall nations GDP. Housing starts, therefore, indicates future demand for housing related goods and services.

b. Rate of Value- 780,000…… [Read More]

Bibliography:
1) Cooper, Stephen. Census.gov. U.S. Department of Housing and Urban Development, 17 Jan. 2013. Web. 2 Feb. 2013.

2) "Insights on U.S. Mortgage Rates from Tom Reddin." Mortgage Rates RSS. N.p., 30 Jan. 2013. Web. 02 Feb. 2013
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Economic Impacts of Regulation Is a Written

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

Economic Impacts of Regulation

Regulation is a written instrument that contains rules with the force of law (Ogus, 2004). Regulation as a process involves monitoring and enforcing rules, established through primary or delegated legislation. Regulation usually creates, constrains or limits a right. In addition, regulation creates and limits a duty besides allocating responsibilities (Ogus, 2004). Regulation 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

Regulation 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 industries, development approval, the military forces and services and production standards for particular goods (High, 2001).

Public services usually encounter conflicts between procedures of maximizing profits and people's interests on these services. Therefore, most of the governments have various forms of control or regulation for the purpose of managing these…… [Read More]

Sources:
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.
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Economic Analysis The International Trade Market International

Words: 1291 Length: 4 Pages Document Type: Essay Paper #: 55999124

Economic Analysis: The International Trade Market

International trade plays an historically large role in the growth and prosperity of countries around the globe. Similar to the benefits that open trade within a country brings to that country's respective economy, trade on the international front improves the global market economy significantly. Trade generates competition, promotes the transfer and utilization of new technology and allows countries, customers, and businesses alike to access to the world's best products. Trade in the international market brings about the capacity for innovation, high productivity and rising incomes and economic standings for each country that chooses to engage in it. However, certain strategies, regulations and methods must be employed within the international market to ensure success and smooth operations in each respective country that becomes involved in world trade.

Governmental Role in International Trade

The government plays a very specific role in the field of international trade and can be found in different levels of economic integration within the markets which impacts the international market in a very viable way. In beginning international trade, a foreign country with an appropriate demand profile is identified, institutional barriers, trade barriers, administrative regulations, commercial law enforcement standards are identified and…… [Read More]

References:
Dutta, N. (2010). Foreign investment, financial development and political risks. The Journal of Developing Areas, 44.2: pp: 303-327. Retrieved from: ProQuest Database.

Lowenfield, A. (2001). The role of government in international trade: essays over three decades. The American Journal of International Law, 95.2: pp: 400-502. Retrieved from: ProQuest Database.
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Economic Impact Study

Words: 2259 Length: 7 Pages Document Type: Essay Paper #: 36418522

Economic Impact Study: Students at Schreiner University

An economic impact analysis is designed to estimate both the direct and indirect effects on the economy that are associated with any given type of expenditure. In other words, an increase in the demand society has for a product sets in motion a series of various expenditures from the companies and organizations that provide what is needed to make that product. The parts and labor have to come from somewhere, so the economic impact is not just on the company from which the product was ordered, but on that company's suppliers and their suppliers, all the way down the chain. When it comes to services, though, such as would be seen with higher education, the economic impact analysis is somewhat different. Since the student is not ordering a good or a product of any kind from the school, there is more to the actual story than meets the eye.

Suppliers that provide textbooks and other materials can be part of the analysis, but that would focus more on the impact on the learning institution itself. When focusing on the students and the economic impact they face when attending an institution of higher learning,…… [Read More]

Works Cited:
Joint Economic Committee. (2013). The causes and consequences of increasing student debt. United States Congress. Retrieved from http://www.jec.senate.gov/public/?a=Files.Serve&File_id=d7937b2f-e01c-4721-8b8b-09f5776725a1

Kadlec, D. (2013). Student loans are becoming a drag on the U.S. economy. Time Business & Money. Retrieved from  http://business.time.com/2013/10/18/student-loan-are-becoming-a-drag-on-the-us-economy/ 
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Economic Indicators Employment Weekly Job

Words: 527 Length: 2 Pages Document Type: Essay Paper #: 83863511

The outlook was very negative in August and September -- there were some serious issues such as the debt ceiling debate that could have been responsible for the strong negative outlook. The outlook has turned slightly positive of late though, an encouraging sign.

Overall, the data provides a mixed signal about the state of the economy. The major headline numbers -- GDP and unemployment -- are improving. This is supported by the FOMC's statement, which has shown that rates are going to stay low. However, there are some mixed signals in the other data, including CPI, real earnings and durable goods orders.

The type of number of course is important. Some of the numbers are more sensitive than others, and some are better indicators of the economic conditions of the country. The Philadelphia survey, for example, is regional and subjective, which makes it a less useful indicator. Such data is important to have, but it is not as important as the hard quantitative data that is nationally based. That type of data is typically more important for determining the course of the U.S. economy. So once some of the less important data are excluded, the headline-type numbers show a generally…… [Read More]

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Economic Policy

Words: 908 Length: 2 Pages Document Type: Essay Paper #: 22669470

Economic Policy and the National Debt

Ironically, when governments overspend they typically find ways to refund or restructure debt -- when individuals or corporations within those countries do the same, the consequences are quite different. Money means more than one thing -- usually an object that is traded for payment of goods or services, of exchange. However, when we talk about the government, there is a huge different in the way the money supply works within the economy. In modern capitalism, commodity money (gold and silver) was replaced by representative wealth in that currency is no longer tied to the stores of precious metals. Instead, monetary policy under the Federal Reserve states that the goal of fiscal policy is to "promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates" (U.S. Mint, 2011).

As individuals, we typically live within a budget based on our expenses and income. It consists of food, clothing, transportation, housing, etc. Excess goes into savings or investments, in theory. Large governments do not operate this way, or with this level of responsibility for the detail of budgets within a small amount of time. Instead, they often use a concept called deficit spending.…… [Read More]

References:
U.S. Mint. (2011). Information on Money. USMINT.GOV. Retrieved from: http://www.usmint.gov/mint_programs/american_eagles/index.cfm?flash=no&action=American_Eagle_Gold

U.S. National Debt Clock. (October 2012). Outstanding Public Debt. Retrieved from:

https://mail.google.com/mail/?ui=2&shva=1#inbox/1346437de8c33aa8
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Economic and Trade Development the

Words: 2664 Length: 8 Pages Document Type: Essay Paper #: 3379747

(Buchanan, 72)

The economic policy tools that were employed just after the war subsequently underwent some changes. From 1947 to 1950 direct controls on wages and distribution were eliminated followed by removal of trade controls in 1958. However, the government continued to maintain its hold over prices and credit distribution which made it different from many of its neighboring states in the postwar period. The French Ministry of Finance exerted greater control over the economy than the Bank of France. This led to a greater predilection to resort to devaluation when external equilibrium resulted due to the state failure to control incomes. In France, the period between 1945 and 1975 was known as the "thirty glorious years" because of the phenomenal economic performance. During this period, the average growth rate of GDP was around 6.8% which was quite remarkable considering that Britain's average GDP growth rate was 2.4% and Germany's was 4.8%. (Graham; Seldon, 295)

The National Champions Policy initiated by Charles de Gaulle in the late 1950s continued through the early 1980s and attempted to form conglomerates by concentrating the French industry. The main motive behind this policy was to enhance the industrial competitiveness of France and to elevate…… [Read More]

Resources:
Bathelt, Harald; Wiseman, Clare; Zakrzewski, Guido. Unit 1: Post-war development and structure of the German economy.

Buchanan, Tom. Europe's troubled peace, 1945-2000.
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Economic Globalization Today the World

Words: 2327 Length: 7 Pages Document Type: Essay Paper #: 34601163

"The explosive growth of the global economy threatens the natural systems that sustain life on Earth. Despite some significant successes in reducing industrial pollution and increasing efficiency, globalization is devastating natural habitats, speeding global warming, and increasing air and water pollution" (Anonymous). It is in the nature of such an economic globalization to cause negative effects. Globalization has its benefits as well which hold substantial weight.

Advocates for economic globalization state that it is aimed at removing poverty and increasing wealth among the poor. This has been seen not to be entirely true and the gain of wealth is seen only in the upper or elite classes. The rich are getting richer while the poor are getting poorer. Although food has increased, hunger rates have also increased. It is seen that the top class is becoming multibillionaires and today there are more billionaires than yesterday. However the lower class is now facing days without any food. The largest economies in the world today are corporations. Names like General Motors, Mitsubishi rank among the first thirty largest economies. It is now known that these names have a larger economy than countries like Finland, Chile, Saudi Arabia, Denmark, Turkey etc. The list…… [Read More]

Bibliography:
1) Anonymous - Economic Globalization. [Online website] Available at http://ucatlas.ucsc.edu/economic.php[Accessed on: 10/11/2005]

2) Anonymous - Mennonite Central Committee "Economic Globalization." [Online website] Available at http://www.mcc.org/us/globalization/[Accessed on: 10/11/2005]
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Economic Environment

Words: 1045 Length: 4 Pages Document Type: Essay Paper #: 52028400

Economic Environment of a Business

The objective of this work is to summarize the economic environment of a business including information relating to microeconomics, macroeconomics, and international trade aspects

The business organization is a "micro-economic unit" and the business environment is that which makes provision of the "macro-economic context within which firm operates." (Reddy, ) The business environment can be categorized into the 'economic' and non-economic' and the 'micro- and macro-environment. (Reddy,, paraphrased) The firm is an economic institution in a market system with the behavior of the firm reflecting the result of the decisions that were economic in nature that the manager of the firm made.

The economic environment of a business in today's globalized business society is complex in nature. There is an inherent link between the business sector and it relationship with the government, capital market, household sector and the international business sector -- all of which serve to influence the trends and the economy structurally. It is related that the business economic environment affects the non-economic environment and likewise the non-economic environment influences the economic environment.

I. Business Economic Environment is both Exogenous and Endogenous

The economic environment is stated to be "both exogenous and endogenous"…… [Read More]

Works Cited:
Palwar, V.K. (2010) Economic Environment of Business 2nd Ed. PHI Learning Pvt. Ltd. Retrieved from: http://books.google.com/books?id=hNBEId591wYC&dq=Economic+Environment+of+a+Business&source=gbs_navlinks_s

Reddy, R.I. (2004) Business Environment. APH Publishing. Retrieved from: http://books.google.com/books?id=NQv9vKgF_3MC&dq=Economic+Environment+of+a+Business&source=gbs_navlinks_s
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Economic Impact of Katrina Impact

Words: 6883 Length: 20 Pages Document Type: Essay Paper #: 70792841

This is a pattern that is relatively consistent over a long time period (Clayton & Spletzer, 2006). The only difference in 2005 was that unemployment claims did not rise in the fourth quarter with the drop in jobs, as they had done in the past.

It is difficult to draw definitive conclusions as to where these employees went in the fourth quarter of 2005. To do so would be filled with generalizations that do not account for all of the factors involved. However, it can be surmised that in the fourth quarter of 2005, workers in New Orleans went elsewhere and were dispersed into other economies. Statewide numbers do not support a change that is significantly different from other years. Therefore, it does nor= appear that this diaspora had an impact on a state or national level. The only reasonable explanation is that unlike other years, where workers filed unemployment and stuck around the are waiting for first quarter employment to pick up the pace, after Katrina these workers left for higher ground.

On a local level, Hurricane Katrina has a measurable impact on New Orleans and the area surrounding New Orleans. The state of Louisiana had to absorb some…… [Read More]

References:
Arnall, D. Two Years Later: Katrina's Economic Impact. August 28, 2007. ABC News. Money. Retrieved May 19, 2008 at http://www.abcnews.go.com/Business/story?id=3529341&page=1

Bureau of Labor Statistics. (2006) Hurricane Information. Katrina and Rita. U.S. Department of Labor. Monthly Labor Review (August, 2006),
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Economic Miracle Japan 1946-1973 Japan

Words: 2610 Length: 8 Pages Document Type: Essay Paper #: 3449384

Energy costs increased substantially and the yen's exchange rate was shifted to a floating rate. The eventual recession reduced expectations of future growth and reduced private investment. Economic growth went down from 10% to 3.6% during the period 1974-79 and to 4.4% in the decade of the 80s. But despite the oil crisis and its consequences, Japan's major export industries stayed competitive through its cost-cutting policy and increasing efficiency. It reduced industrial energy demands and allowed the automobile industry, along with other industries, to improve. By the late 70s, the computer, semiconductor and other technology and information-intensive industries entered a period of rapid growth. During this high-growth era, exports continued to support Japan's robust economic growth in the 70s and in the 80s. However, the problems encountered on account of its growing balance of payments surplus urged for the opening of domestic markets and a stronger focus on domestic demands as its engine of economic growth (Ministry of Foreign Affairs).

Today, the Japanese economy is the second larget market economy in the world (Ministry of Foreign Affairs 2007). Its 2002 GNP was recorded at 532.96 trillion yen. Its per capita national income in 2001 was U$24,038, which ranked Japan as…… [Read More]

Resources:
Answers.com. (2007). Shigeru Yoshida. 4 pages. Encyclopedia Britannica: Answers Corporation

Bernier, B. (1980). The Japanese peasantry and economic growth since the land reform of 1946-47. 40 pages. Vol 12 issue 1. Bulletin of Concerned Asian Scholars: Questia Media America, Inc.
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Economic Depression of Europe

Words: 2122 Length: 6 Pages Document Type: Essay Paper #: 43307480

Economic Depression of Europe

An economic depression is more severe than a recession due to the fact that a depression involves drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and high levels of unemployment.

There were economic depressions in Europe that were experienced before and after the 1870 but with a remarkable difference, being that those that were experienced before the 1870s were less costly in terms of life and resources and took relatively lesser period. Indeed it was a commonplace that every part of Europe experienced one sort of economic depression or the other.

One such economic situation before 1870 was the "little ice age" which began in the late 16th century till around 1950s as indicated by Big Site of History (2011). This was a time when a severe cold that could not be withstood by most crops set in most part of Europe. This led to unpredictable harvest and a significant slowdown of population increase though there were exceptions in some areas of Europe.

The other noticeable economic depression that is worth mentioning is one that was caused by recurrent plague in 1665. This was seen as one of the…… [Read More]

References:
Big Site of History (2011). Social Trends in 17th Century Europe: The Problem of Divine-Right

Monarchy. Retrieved July 18, 2011 from http://bigsiteofhistory.com/social-trends-in-17th-century-europe-the-problem-of-divine-right-monarchy