Macro & Microeconomics Essays

The previous three years have been a trial and error situation for the U.S economic policies, with no policy lasting for success. It seems as if the policies were initially successful, however over the passage of time it was proved that most of them only proved to be bubbles, which burst as soon as a crisis hit the nation.

Generally speaking, the flaws of globalization are not fundamentally structural. Instead, most of it comes from the failure of states to commit to the idea that it espouses. Countries, especially the rich economies, are still resistant to eliminate trade barriers, opting to protect domestic industries.

Economies have been experiencing cost-push inflation, rising unemployment and dwindling output with figures getting worse over the span of time. More importantly, the process of recovering from this economic slump had been long and painful. United Kingdom (UK) has been a booming economy and it had remained buoyant for the past decade.

Since flight service is considered to be a luxury good, taxing this industry heavily does not affect the poor; rather using the revenue drawn from this industry, for the poorer section of the society will be conducive to the redistribution of wealth in the country, which will reduce social inequality.

This essay discusses not only a predictable possibility of future economic stagnation, it's reasons and factors, but also suggests few methods for avoiding such problem. These recommendations contain improving Short-Term Demand and Efficient Supply and Boosting Medium-Term Growth and Role of the Government.

The unemployment rate in the U.S. for August 2011 was 9.1%. Figure 6-2 on page 145 of the textbook illustrates a chart with the fastest-growing occupations requiring a college degree in the United States of America for 2004-2014. The X-axis of the chart shows the total job openings per thousands of jobs.

When the customer buys the product the demand for it increases. Then the sellers need to produce it and this in turn increases the demand for the product. The quantity supplied is related directly to price and the quantity demanded is related inversely to price. From this, we can conclude that the equilibrium price can be achieved at the place where the supply and demand curves intersect.

Many scholars have argued that price gauging is not bad as the government puts it and legal measures should not be taken for those who do it (You Tube). In order to prove that price gauging is good this paper will use the state of Mississippi just after it

Costs for studying for an exam include the cost of study materials, time, and physical and mental strain while benefits include passing the exam, increased competitiveness in the job market, and attained social status. Costs of skiing on a class day include lost learning opportunities include utility from the experience and social interactions.

The various fund managers like M&G Investors, JP Morgan, and Goldman Sachs, etc. have predicted a slow but steady rise in yields of treasury bonds. The tapering of bond purchases by the Federal Reserve reflects improved American market and higher yields of treasury bonds that have seen positive recovery.

out the fate of USA economy, this write-up finds it prudent to inject a visionary economic school of thought that defines how full employment can be achieved through redesigning government fiscal policies. Beginning the period just after the revolutionary war (1790) to date,

10). There is no deficiency of ideas even if there is lack of enough relevant data and conclusive empirical tests. Both the political economy and neoclassical theory

These occurred between 1974/ 1981/1999 and 2008 where the global market faced an economic meltdown. The contraction in 2008 was the most pronounced GDP the country ever faced. The countries output was reduced by 1.6%. The output during the 2009/2009 economic meltdown remained at 3.2% below its original peak. It took the economy more than 22 quarters to be back to its peak again.

The mission statement for the Bureau of labor statistics of the U.S. that lies under the department of labor directs on the collection of

This paper provided an in depth analysis of one of a recent article on environmental economics. The article is about the need to bring about a clean and healthy environment and adapt critical policies that will

Aggarwal and Espach have analyzed in their findings the presence of some national trade strategies at different levels or even their absence -- whether these nation-states follow some consistent set of policies resulting in a “strategy” or it is a temporary alliance of compelling domestic politics or opportunistic behavior on their part.

Based on the reactions by public NPR stations especially in an effort to make them less public, different economic concepts arise. According to Frank and Bernanke (2013), it is important to distinguish between needs and wants. Whereas human

In simple terms, the question is about the sources of monopoly power. In the book, “Modern Economic Theory” by Mukherjee Sampat, this author tries considers the following as the most important sources: A big company can sell the product at a lower price per unit than a smaller company can and can reduce prices to exclude competition.

The airport is operated by the port authority of New York and New Jersey. The busiest airport in the US is used by more than 25 million people. The growth in passenger traffic has been steady in this airport and it reflects its increasing popularity. The concrete surface of the runway is as long as 7000 feet. The amusement park transformed the airport.

The issue of minimum wage is undoubtedly a contentious matter in America today. Different economic and political stakeholders remain divided over the issue. While some players support the move to increase the minimum wage across the United States, others contend that such a move will not address the underlying problem (Morath, 2014). In light of this debate, it is evident that the only party on the receiving end is the American worker.

Carbon dioxide is a naturally occurring compound. The atmospheric presence of carbon dioxide is in gaseous form. The gas' presence in the atmosphere is both advantageous and disadvantageous. The occurrence of the gas in the air is factored by multiple means. Carbon IV Oxide gas can be emitted as part of the products in the carbon cycle.

It is worth to note that even though minimum wage regulations are followed in many jurisdictions, there exists difference of opinions that touches on the benefits in addition to the draw backs of

Life today in modern societies has become immeasurably more complex in technical and social ways than it could have ever been previously imagined (Freidmann, 2005, p.24-44). Though planners may continue to wish for a world as it existed earlier where they did not have such numerous factors to take into account before even beginning to plan any town, such a probability has been closed on the human civilization forever.

The group adopts and adapts material objects and acknowledges them in distinctive styles which express the collectivity embodied in rituals of relationship and occasion and movement. This can be called ritual. Ritual is used in the sense of cultural practice that makes an “agreement” between enduring cultural structures and the current situation.

Compared to countries across the globe, the United States has a low economic growth rate. The country with the highest growth rate is Qatar, while Yemen has the highest negative growth rate. Several measures can be instituted to assure economic growth including investing in education and technology, creating employment.

The author of this paper states that Market Efficiency does not mean that the market value is equivalent to the true value. All it states is that the errors in market prices are unbiased, which means prices of stocks can be lesser than or greater than the true value as long the deviations are random.

The highest recorded sales tax in the US exists in Alabama where two localities, Birmingham and Montgomery charge 10%. Next comes cities

 Neoclassical economics is the central paradigm at present, and it shows very little signs of decline. During the last three decades, its theoretical framework and “methodical tools have served as the basis for a critique of regulation, for designing optimum pricing and investment policies, and for implementing regulatory reforms.”(Berg & Tschirhart,1).

Inflation refers to an increment of price levels in general that is the rise in prices is not on individual commodities but in all areas over a period of time. It’s a change expressed in percentage and compared over a time period. Economists have defined inflation as the sustained general increase in the price of goods and services.

It is evident that because there is an increase in the demand for fish and no notable increases in the fish population, the demand exceeds the supply of the codfish and this may prove disastrous to the fish population. Consequentially, it may lead to a decrease in the fish population, which leads to increased demand and higher prices that may lead to the depletion of the codfish.

Whereas they may indeed alter their habits as a function of seeking to react to the changes that increased prices might affect them, the ultimate need for water will not change.  A further reason for this has to do with the fact that there is not another firm or service that offers the same product to the consumer.   

Firms operate at the same technological level and economies of scale is broken down by small level of output relative to demanded quantity. The entrepreneur maximises profit at the point when the marginal cost has the same value as marginal revenue. Entrepreneurs make judgmental decisions on coordinating scarce resources.

While some companies have preferred to operate without an HR department, it is clear that every company will struggle without this department. The HR departments help companies to develop compliance and ethics programs that help employees to coexist (Weber & Feintzeig 2).  They also help companies with matters concerning recruitment and compensation among others.

This makes them sustainable as opposed to fossil fuels, which might run out at a certain point. Environment friendly: There has

China needs to devaluate its currency exchange rate to reflect the real relation of the Chinese Yuan with other major currencies of the world, like the US Dollar. Chinese GDP has shown a steady growth pattern. Its real GDP growth rate has been 7.75 percent against 2.5 percent for the USA, measured on an annual basis.

The real effects of the global financial crisis have been severe in the European Union. There was the emergence of significant ‘between countries' differences that emerged in the labor market with the impact of the financial crisis on employment being exacerbated by the feeble recovery which differentiates the EU countries from other regions.

The scenario changed in 2013 when British Prime Minister David Cameron put forward the plan of holding a referendum on the continuation of their membership with the European Union. The announcement made by the British Prime Minister gave rise to multiple speculations regarding the probable effect of such a referendum on the UK and the world economy.

 The aging process should be viewed through a positive lens. However, it brings with it problems at familial, communal and national level. The ability of various nations to provide for the older citizens has been in question for a long time.

Microeconomics examines the decision-making process of individuals, firms, Governments and the impact of the decisions on demand and supply of goods and services and how it, in turn, affects the prices and the effect of relative prices on the market. Microeconomics, a division of economics deals with the decisions taken by individuals, firms. 

One perspective holds that individuals ought to have the freedom to choose between all available economic alternatives and to restrict that choice is not part of the proper role of government. A second perspective holds that the United States economy is still in a state of contraction and to achieve its proper goals.

One of the best ways by which Greece can avoid the mistakes of the United Kingdom is to practice co-privatization instead of outright privatization. In co-privatization, the government will own some part of the businesses sold so that the government will continue to have stacked in the affairs of the country’s economy.

The stimulus package was a fiscal policy strategy that was used to jumpstart the economy. This package included bank bailouts, tax rebate checks, and other stopgap measures to stop the slowdown in the economy. The cost of this controversial package

The article draws from survey data regarding the quality of teachers and schools that thirteen and fourteen year olds have available globally, as well as their achievement in science. They obtained the information from principals, teachers, and students through mail

The world oil markets have experienced significant fluctuations within the past year, with the demand being reduced by a weak world economy and increased after the natural disasters in Japan and India. It is anticipated that global oil demand growth will remain stable in 2014. 

The WTO was mainly created with the objective of promoting free trade between nations, which is likely to improve mutual benefits for both the trading countries. Since its inception, WTO has come a long way establishing conditions for robust economic development, creating jobs and reducing unemployment as is predicted by the international theory of trade.

tries such as China and India, will provide their specialized pool of the work force at cost effective prices, and contribute in enhancing the productivity of the company. Also, the efficient use of time zone differences makes the company earn greater profits. Outsourcing also

The liberal order of the world in the past has been organized and upheld by the United States leadership. The system is now facing some sort of crisis where there is confusion regarding power roles in the maintenance of the international liberal order. The economy needs to undertake a rebalancing act in order to sustain the global order.

Through this, it is easy to restructure the products they unleash according to the prevailing customer requirements. Similarly, it is easier to determine products that are not moving fast and minimise their

True individualism is presented as a collection of political sayings obtained from the society’s standpoint.  In his definition, Hayek implies that, in order to understand individuals properly, one has to comprehend the society within which the individual lives. Hayek recognizes that although society is crucial in understanding individuals, the individual is responsible for making significant social decisions.

Few such factors are: Generally students with disability have to be trained and educated in special schools which are in accordance with their ability and provide certain facilities for them. In regular schools such facilities are not provided. So in such schools