Microeconomics Essays (Examples)

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Three Economic Indicators

Words: 1097 Length: 3 Pages Document Type: Essay Paper #: 73905850

Microeconomics and Indicators of Agriculture and Manufacturing

When experts and professionals look at microeconomics, the study of behavior of the economy as a whole even though it can be very complex because there are many factors that weights it. Furthermore these economists and other analysts take the data they assess with numerous other monetary signs that they determine that allows them to update us on the general well-being of the national market. There are different sectors (markets) within the financial realm that assists the consumers from the information determined as well as the businesses, and government so these three departments can make wise decisions. In microeconomics consumers desire to recognize how difficult or simple it could be to find work, the cost or price of the goods and services they prefer or use regularly, how consumers look in to borrowing money like determine who to do business with because of…… [Read More]

References

Agriculture gdp as share of total gdp. (n.d.). Retrieved from http://www.unesco.org/water/wwap/wwdr/indicators/pdf/G3_Agriculture_GDP_as_share_of_total_GDP.pdf

Barnes, R. (2011). Economic indicators: consumer confidence index (cci). Retrieved from  http://www.investopedia.com/university/releases/consumerconfidence.asp 

Davis, M. (2011). Microeconomics: factors of business decision making. Retrieved from  http://www.investopedia.com/university/microeconomics/microeconomics4.asp 

Encyclopedia of the Nations. (2011). Agriculture, value added (current lcu) -- value added local currency at current prices -- national accounts -- economic policy & debt -- world development indicators. Retrieved from http://www.nationsencyclopedia.com/WorldStats/WDI-value-added-agricultre2.html
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Drew White 1750 Danny Gamache

Words: 2065 Length: 6 Pages Document Type: Essay Paper #: 70281003

There are rumors, the Forbes report goes on, "that the owners are looking to sell the team, which has sizeable debt and has had a hard time attracting season ticket holders" (Forbes).

Another struggling franchise mentioned often in analysis as a financial loser is the Atlanta Thrashers. Forbes reports the team lost 10% of its value in the 2008-09 season and is now worth $143 million. Local revenue per fan is $10 and the Thrashers' debt is 46% of its total value; player salaries were $39 million and gate receipts were $23 last season. "A nasty and continuous legal battle amongst the eight owners…has resulted in the team turning to Goldman Sachs for investors"

(Forbes). Although the Thrashers are not in the so-called Sun Belt, Atlanta is not known for ice, snow, and cold, like the more traditional hockey venues experience.

The financial struggles of some teams today is not…… [Read More]

Works Cited

Badenhausen, Kurt, Ozanian, Michael K., and Settimi, Christina. (2009). "NHL Team Valuations: The Business of Hockey." Forbes Magazine. Retrieved Dec. 1, 2009, from  http://www.forbes.com .

Baird, Michael (2005). "NHL Finances: Skating On Thin Ice." Sports Facility Reports. Retrieved Nov. 30, 2009, from http://www.law.marquette.edu/s3/site/images/sports/facilityarticlelled.pdf.

Forbes (2009). "NHL Team Valuations: #18 Tampa Bay Lightning." Retrieved Dec. 2, 2009 from
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Simulation Featured a Number of Different Economic

Words: 833 Length: 3 Pages Document Type: Essay Paper #: 46009543

simulation featured a number of different economic concepts. The first is the issue of the supply curve. Shifts in the supply curves occur as the result of changes in price, or also in changes in demand. When the price of a good in the market changes, firms are likely to increase production. When the price of a good in the market decreases, some firm are likely to reduce or eliminate production. Also, technological improvements can serve to increase supply by making firms in the industry more efficient.

There are also shifts in the demand curve. Such shifts occur when there is a change in the price or a change in the supply. There can also be external shocks such as recession that affect the amount of demand in the economy. When the price of a good drops, this typically will cause demand to increase. When the price of a good…… [Read More]

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Externalities and Financing Government

Words: 1653 Length: 5 Pages Document Type: Essay Paper #: 68539130

Externalities and Financing Government

Microeconomics Today -- hat is a fair tax?

Tax the rich, give to the poor! Tax the gas-guzzling SUVs of the rich, and give the money to the poor! Or, at very least, give the revenue in the form of tax breaks to independent and corporate organizations attempting to make alternative fuel vehicles. In theory, it seems like an excellent idea. However, although a higher gas tax may seem like a pro-environmentalist policy and superficially progressive in its political tenor and tone, in fact a gas tax really functions in its application as a regressive tax, penalizing the poorer rather than the wealthier Americans. It goes contrary to the fair financing of government, one of the philosophical principles of this nation.

Application of Microeconomic Theory -- regressive taxation and economic incentives for changes in consumer behavior through changes in tax policy

Two of the most controversial…… [Read More]

Works Cited

Carson, Robert Barry, Wade L. Thomas, Jason Hecht. (2005) Microeconomic Issues Today. 8th Edition. Armonk, N.Y.: M.E. Sharpe.

Ignatius, David. (31 May 2004) "Why Gas Prices are Too Low." The Washington Post. Available at  http://www.washingtonpost.com/wp-dyn/articles/A5080-2004May31.html 

Mankiw, Gregory N. (24 May 1999) "Gas Tax Now!" Fortune Magazine. Available at http://post.economics.harvard.edu/faculty/mankiw/columns/may99.html
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Margin Call the Movie Margin Call Recounts

Words: 1439 Length: 5 Pages Document Type: Essay Paper #: 91268183

Margin Call

The movie Margin Call recounts a fictionalized version of the fall of Lehman Brothers in the autumn of 2008. The story centers around the trading floor, the company's exposure to toxic mortgage-backed securities and its responses to these challenges. The movie discusses and provides a framework for analyzing a number of financial concepts. This report will use Margin Call to discuss a number of different microeconomic concepts that are seen in the movie.

Market Failure

Lehman Brothers is ultimately a story of market failure, so this is a natural starting point for this analysis. Marker failure occurs when the "quantity of a product demanded by consumers does not equate to the quantity supplied by suppliers" (Investopedia, 2013). Market failure is evident in a number of ways, based on the story of the movie. For example, the traders are instructed to unload their positions in the toxic assets, but…… [Read More]

References

Investopedia. (2013). Market failure. Investopedia. Retrieved November 20, 2013 from http://www.investopedia.com/terms/m/marketfailure.as
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Subway Economic Analysis Subway Corporation Economic Business

Words: 956 Length: 3 Pages Document Type: Essay Paper #: 41812524

Subway Economic Analysis

Subway Corporation:

Economic Business Analysis

Subway Corporation: Economic Business Analysis

Why Subway?

Microeconomics centers on the study of the economic makeup of individual households, firms, and government. As franchise firms fall into this category, it is clear that small business owners, such as franchise owners, face the day-to-day task of dealing with many economic decisions in order to keep their businesses both functional and successful in order to turn a profit. One such example of this type of franchise is Subway. As the world's largest restaurant chain, Subway franchise owners make decisions every day that contribute to the bigger picture, helping keep Subway one of the world's most recognizable and successful franchises.

In understanding why an economic business analysis of the Subway Corporation is one worth completing, one can ask: what makes Subway interesting? Subway's success story is seemingly unparalleled in terms of growth and global acceptance.…… [Read More]

References

Fitzgerald, T. (2009). Subway's journey to green. Journal of Logistics Management.

48:4, p. 22. Retrieved from: ProQuest database.

Mohanty, L. (2011). Introductory microeconomics adapted from G. Mankiw's principles of microeconomics. TUI Powerpoint lecture. Accessed on: 20 July 2011.

Rittenberg L. And T. Tregarthen (2009). Principles of microeconomics. Retrieved from:
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Economics of Public Policy

Words: 4599 Length: 15 Pages Document Type: Essay Paper #: 40440193

Monopolies and Trusts:

Appropriate Areas for Government Intervention?

Capitalism is the economic system that has dominated the United States virtually since the day of its independence. A social and economic system based on the recognition of individual rights; capitalism demands that owners' rights to control, enjoy, and dispose of their own property must be respected. In a capitalist system, the purpose of government is to protect individual economic rights, and to make sure that no one individual, or group may employ physical or coercive force upon any other group or individual. The success of capitalism is well evident. The surpluses that this system produces have enabled individuals to experiment; to create new products, and market new ideas. These private surpluses are traded in a free market in direct competition with other buyers and sellers. Such competition is best represented by the efforts of two or more parties acting independently to…… [Read More]

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Speech to Local Chamber of Congress --

Words: 1004 Length: 3 Pages Document Type: Essay Paper #: 40114155

Speech to local Chamber of Congress -- Macroeconomic vs. Microeconomic influences today

Let's take a macro view of this problem! Let's take a micro view of this problem! hen we use such expressions colloquially, we usually mean taking a large vs. A small picture perspective. It is usually assumed that having a big picture perspective is the better one, because it is more far reaching in its nature. But a critical holistic view of macro and microeconomics theory shows that decisions made on the small-scale, or microeconomic level, can critically impact average buyers and sellers in ways that often are invisible to the naked economic eye of the consumer or capitalist as well. Both micro and macro factors must be considered together when making economic decisions on a personal level.

Microeconomics, also defined as classical economics as first preached by Adam Smith in his text the ealth of Nations, or…… [Read More]

Works Cited

"Aggregate Demand." (2005) The Digital Economist. Retrieved Jul 17 at 2005

http://www.digitaleconomist.com/ad_4020.html

Bick, Julie. (17 Jul 2005) "Listen Kids." The New York Times. Retrieved Jul 17 at 2005  http://www.nytimes.com /2005/07/17/business/yourmoney/17lemonade.html

Greenhouse, Steven. (17 Jul 2005) "How Costco became the Anti-Wal-Mart." The New York Times. Retrieved Jul 17 at 2005
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Knowledge and Proficiency in Economics

Words: 2757 Length: 8 Pages Document Type: Essay Paper #: 61604525



The third degree discrimination is when businesses set prices depending on the location and the market segments. Here the supplier will identify the various market segments and have varying prices for the same item due to the varying consumer classes in these regions. The sales managers always have to look at the characteristics of the market and the customers in general.

The factors that the sellers consider here are age of the potential clients and their population in a given area, the economic standards and their purchasing history. This will enable the recommendation of varying prices for the different market segments. This is a discrimination criterion frequently used by the textile industry run by my father in Indonesia and particularly on the export textile. He has countries that will generally buy at higher rates than others hence he does his research and sets the prices accordingly.

It is noteworthy that…… [Read More]

References

Business Growth Strategies, (2011). Value Propositions. Retrieved August 17, 2011 from http://www.mccraigh.com/Archives/value_proposition.html

Merriam Webster, (2011). Economics. Retrieved August 17, 2011 from http://www.merriam-

webster.com/dictionary/economic

Michael E.P. & Mark R.K., (2006). Strategy and Society: The Link Between Competitive
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Economics Is the Study of

Words: 931 Length: 3 Pages Document Type: Essay Paper #: 54684209

If there is a risk that one of the family members will lose his or her job, that will add risk to the purchase decision. The riskier the purchase decision, the lower the price will need to be in order to compensate for that. Another factor here is the expected change in housing prices or interest rates. Buyers are inclined to enter the market if they believe that the cost of home ownership will be higher next year, but they may delay purchases if they believe that costs will be lower next year.

ith new home sales last summer, the dip could be in part due to worries about a double-dip recession. The summer was characterized by an inane fight over the debt ceiling, something that shattered confidence of many in the political system, and some of the key actors within that system. A fractured political system is one that…… [Read More]

Works Cited:

Hauser, C. (2011, Aug 24). Sales of new homes fell again in july. New York Times, pp. B.6-B.6.  http://search.proquest.com/docview/884825381?accountid=35812
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Rittenberg L T Human Capital Is Used for

Words: 832 Length: 2 Pages Document Type: Essay Paper #: 38884596

Rittenberg L.T.

Human capital is used for acquiring knowledge and skills which increase individuals' value and productivity. Such skills are experience, training, and education. These skills aids in providing resources to enhance economic growth, and produce new businesses and technologies.

Despite affording costs in the United States, college education has raised individual's income. More educated persons have higher IQs and well educated and rich parents. Similarly, above hundred other nations with diverse cultures and economic systems, educated people have the same standards.

From the viewpoint of individuals, the college education increases benefits and income, while from the viewpoint of society; it enhances desirable social norm and values, communication and democracy, and produces effective leaders. Its monetary benefits include lowering of the probability of unemployment. On the other hands, non-monetary benefits include psychological benefits i.e. social acceptance, ability to communicate better, and make wise decisions.

On the labor market experience, obtained…… [Read More]

Bibliography

Alan Nelson (1984). Some Issues Surrounding the Reduction of Macroeconomics to Microeconomics. Philosophy of Science 51 (4):573-594.

Don Ross (1995). Real Patterns and the Ontological Foundations of Microeconomics. Economics and Philosophy 11 (1):113.

Julianne Nelson (1992). The Market Ethic: Moral Dilemmas and Microeconomics. Journal of Business Ethics 11 (4):317 -- 320.
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Roche Corporation Is a Global

Words: 3606 Length: 12 Pages Document Type: Essay Paper #: 10390440

It has been found that in general, the elasticity of demand for health care is -0.17, meaning that for a $1 increase in the cost of health care there is a decline in demand of $0.17 (Ringel et al., 2005). Health care is a unique product. It would be reasonable to think that the cost of one's health is irrelevant -- that consumers would place nearly infinite value on their health, resulting in very little elasticity of demand. Indeed, a figure of -0.17 indicates that this is true to a significant extent. Demand for health care does not drop precipitously when health care costs increase. In the United States, however, it does drop. There are several ways in which consumers reduce their health care expenditures in the wake of increased prices. They may switch from branded drugs to generics; they may reduce their level of care; or they may seek…… [Read More]

Works Cited:

Minter, S. (2010). First up -- the audacity of hopelessness. Industry Week. Retrieved March 17, 2010 from http://www.industryweek.com/articles/first_up_ -- _the_audacity_of_hopelessness_21293.aspx

No author. (2010). U.S. gross domestic product forecast. Financial Forecast Center. Retrieved March 17, 2010 from http://forecasts.org/gdp.htm

2009 Roche Corporation Annual Report. Retrieved March 17, 2010 from http://www.allbusiness.com/population-demographics/demographic-groups-baby-boomers/11414536-1.html

Hennessy, K. (2009). Demographics is a bigger problem than health care costs. Keith Hennessey.com. Retrieved March 17, 2010 from  http://keithhennessey.com/2009/06/23/demographics-is-bigger/
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Economic Costs Are Different From Accounting Costs

Words: 1398 Length: 5 Pages Document Type: Essay Paper #: 6603185

economic costs are different from accounting costs and why a firm might still operate even when there is a loss.

The best way to describe the differnce between economic costs and accounting costs is to break down the economic costs into explicit and implicit costs. 'Explicit costs" are all of those circumstances that require specific outlay of money such as paying employees, paying rent and utility bills.

"Implicit costs" on the other hand are those opportunities and potential profit or loss that oen may have made hade one gone in another direction, but due to having absorbed oneself in one's present business one had to forego. An example of this may be someone deciding not to look for a conventional job in order to start his own home business over the web. The conventional opportunity may have provided him with a certain profit that he now has to forgo being…… [Read More]

Rittenberg Libby and T. Tregarthen. (2009). Chapter 8: Production and Costs. Sections 1-4 Principles of Microeconomics. FlatworldKnowledge.com. Retrieved September 2, 2011 from: click here

Rittenberg Libby and T. Tregarthen. (2009). Chapter 12: Wages and Employment in Perfect Competition. Sections 1-4. FlatworldKnowledge.com. Retrieved September 2, 2011 from: click hereMarket & Market System. 'Perfect competition'. Tutor2U. Available at: http://tutor2u.net/economics/revision-notes/a2-micro-perfect-competition.html

Vargas, L. (2001). "Maquiladoras: Impact on Texas Border Cities," in The Border Economy, Federal Reserve Bank of Dallas. Retrieved on February 18, 2011 from: http://www.dallasfed.org/research/border/tbe_vargas.html
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Supply Demand Simulation Macro and Microeconomic Principles

Words: 903 Length: 3 Pages Document Type: Essay Paper #: 676740

Supply Demand Simulation

Macro and Microeconomic Principles

From the simulation, the two major microeconomic principles are supply and demand. The simulation majorly focuses on the supply and demand of rental properties in Atlantis. In addition, the influences on supply and demand form the major topic discussed in the simulation. The macroeconomic factors clearly stated in the simulation are changes in the population trend, choosing to rent or buy apartments and factors that directly influence these changes. Colander (2010), states that the quantity demanded always increases with falling prices and quantity supplied reduces with receding market prices (Colander, 2004). The company's supply is almost 2,000 apartments; the company speculates at reducing the vacancy rates to 15% to increase demand, a clear applicability of the demand law.

Demand and Supply Shifts

The availability of rental apartments, demand for rentals, number of potential renters and the pricing are the common factors that affect…… [Read More]

References

Colander, D.C. (2004). Economics . New York: McGraw-Hill / Irwin.

Mishkin, F.S. (2004). The Economics of Money, Banking, and Financial Markets. Boston: Addison-Wesley.

Rogers, C. (1989). Money, Interest and Capital: A Study in the Foundations of Monetary Theory. Cambridge: Cambridge University Press.
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Economics the Supply and Demand Simulation Featured

Words: 734 Length: 3 Pages Document Type: Essay Paper #: 74941626

Economics

The supply and demand simulation featured a number of different economic prniciples at work. In terms of microeconomic principles, two that were featured prominently was the relationship between supply and demand. The impact of these two variables on the price and availability of apartments in Atlantis was at the core of the simulation. Another was price elasticity of demand. There were also some macroeconomic principles outlined, as they affect supply and demand. One was the overall population, its growth and demographic change. These factors all contribute to the supply and demand characteristics of the Atlantis rental housing market. Another macroeconomic concept that came into play was the concept of equilibrium and the effects of price ceilings on both supply and demand.

External factors cause the supply and demand curves to shift. The supply curve is shifted, for example, if there is new supply in the market. A new building…… [Read More]

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Potato Chip Industry Given That the New

Words: 1735 Length: 5 Pages Document Type: Essay Paper #: 80253666

Potato Chip Industry

Given that the new company is now run as a monopoly, how will this benefit the stakeholders involved, such as the government, businesses, and consumers?

The conventional economic case in opposition to a monopoly is that, since the cost structure is the same, a monopolistic business will manufacture goods at a decreased output in order to charge higher prices. The opposite is true in the case of a competitive industry. In a monopolistic market, not only do consumers suffer but also governmental efficiency is questioned (as a result of lower spending and tax rates) (Krugman and Obstfeld, 2008).

Another view of Monopolistic markets is that, manufacturers mostly take advantage of the economies as they produce and supply products and services on large scales which results in the fall of average total cost of the production. However, this fall in average cost ultimately increases the monopoly profits. Consumers…… [Read More]

References

Basak, S., & Pavlova, A. (2004). Monopoly power and the firm's valuation: A dynamic analysis of short vs. long-term policies. Economic Theory.

Case, K., Fair, R., & Oster, S.M. (2009). Principles of microeconomics. Upper Saddle River, NJ: Prentice Hall.

Krugman, P. And Obstfeld, M. (2008). International Economics: Theory and Policy. Addison-Wesley.

Maurya, M. (2008). Modern microeconomics: Theory and application. Delhi, IND: Mangalam Publishers.
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Principal of Rational Choice Takes Into Account

Words: 1362 Length: 4 Pages Document Type: Essay Paper #: 49006673

principal of rational choice takes into account the concept of choice and opportunity cost, brought about by the scarcity of economic resources. It assumes that individuals would always prefer that alternative that yields the highest utility. The theory of rationality has three basic underlying properties: completeness, transitivity, and continuity.

The completeness principal holds that, an individual would always strictly prefer one alternative to another, unless the two alternatives yield equal benefits. In the words of Nicholson and Synder (2012), "faced with two alternatives A and B, an individual can always specify one of three alternatives: either 'A is preferred to B', 'B is preferred to A' or 'A and B. are equally attractive'" (p.89). Transitivity seeks to ensure consistency in decision making, such that, if a given alternative (say alternative X) is preferred to some other alternative (perhaps alternative Y), and Y is of greater significance than yet another alternative…… [Read More]

References

Baumol, J.W., & Blinder, S.A. (2012). Microeconomics: Principle and Policy (12th ed.). Mason, OH: Cengage Learning.

Nicholson, W., & Snyder, C.M. (2012). Microeconomic Theory: Basic Principles and Extensions (11th ed.). Mason, OH: Cengage Learning.

Sexton, L.R. (2010). Exploring Microeconomics. Mason, OH: Cengage Learning.

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