StudentShare solutions
Triangle menu

Economics - Essay Example

Not dowloaded yet

Extract of sample
Economics

Fortunately, Economists are getting their due importance in policy making. It's economists who shout both in praise and against all policy decisions of different countries. And at least in a few cases, they themselves get divided in ideas and concepts. Regarding certain policies a group of economists come up with words and swords against another group of economists. Each group depends upon different theories at different times. Basically they keep in mind their own basic view and proceed. For giving stress to their views, depend on theories according to their convenience, that's all.
Economics is supposed to act in such a way to wipe out tear from all the human eyes in the world. It should address the issues of poverty, famine and basic needs. All the theories may be different in ways of action but aim the same target: bring prosperity to human race.
From theories to application - here starts the real game. Economists have made so many jargons familiar to the common man. But what's the end result Did it take us anywhere they planned or predicted This question stands as a very big unanswered question before mankind, especially these days.
In the initial years of the new millennium what the Economic World has been experiencing was boom, boom and boom. The IT boom, banking boom, insurance boom, etc. could be cited as shining examples. Predictions also were aplenty. It was pointed out that the IT boom will stand for many more years. According to economists, banking and insurance were also going to record a trajectory of growth. Many reasons were given numbered one by one to substantiate their point of view. Banking habit is not developed among a large number of people. And an attempt was started by governments of various countries to bring more citizens of theirs to banks. Different packages were announced including zero balance accounts and any time money withdrawal facility. Similarly, it was observed that major chunk of the population remain outside insurance net. Studies were conducted which revealed that there are countries which have only upto a mere 10% of their population keeping insurance policies. Based on these sorts of observations and statistics, so many new economic concepts were introduced by economists. Since the economists were having crucial role in policy making, their views and beliefs turned out to be policies. Political leaderships were depending much on economists in planning future. Since they themselves were ignorant of economic concepts, believed blindly what was advised. There are cases where enough studies were not conducted or even common sense was applied before reaching in far reaching policy decisions. And such policies affected the concerned economy very badly also. Offshoring of jobs is a typical example.
Kathy Sanborn writes: In an article by Paul Craig Roberts ("How the Economy Was Lost"), he explains how the offshoring of jobs helped to create a lower tax base for American communities. Because US workers could no longer keep their IT and software engineering jobs due to 1) offshoring and 2) foreign workers coming in on H-1b work visas, our highly trained technical workers' salaries plunged. In addition, corporations began a mass exodus of manufacturing jobs ...Show more

Summary

Economics basically studies money. It closely observes even the very minute fluctuations in money market. Of course, different aspects come under its purview. Markets, monetary policy, inflation, deflation etc, are a few. No doubt, money has key role in quality of life and development in all spheres of life…
Author : gerholdbrenda
Economics essay essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Economics essay"
with a personal 20% discount.
Grab the best paper

Related Essays

Economics Essay
The total number of unemployed people had increased to 2.53 million, highest since 1994. The number of people applying for an unemployment allowance was at a staggering as 1.45 million. On the other hand in 2010 the UK government’s borrowing was at 148.9 billion pounds.
5 pages (1250 words) Essay
Health Economics Essay
Likewise, economics diagram will be presented to clearly show the relationship between employment and people's willingness-to-pay for expensive health care services offered by the local hospitals. Health care services include the sale of drugs in treating the patients for specific types of diseases.
3 pages (750 words) Essay
Economics essay on free market policies
The concept of externalities, free market and government are discussed in this paper according to Wheelan’s book, externalities occurs when demand and supply curves fail to record all costs and benefits and therefore efficient allocation of resources may not be realized, there exist two types of externalities positive and negative externalities.
2 pages (500 words) Essay
Transport Economics Essay
The objective of this paper is to inform on the unrecognized problems associated with road traffic congestion and also to bring forth the possible solutions to road traffic congestion. The most practical and reliable method of solving this problem is the use of road pricing, however as we shall see in the paper the issue of improvising our roads such that we could shift boundaries and the direction of lanes would be a good solution and only if engineers and architectures prove otherwise, however the paper recommends that a mixture of all possible solutions should be used because as the saying goes together we stand but when we are single we fall, therefore I recommend that a mixture of all t
16 pages (4000 words) Essay
Business Economics Essay
The oligopoly theory is well known for the employment of, "Credible threats to punish cheating from cooperative outcomes (and) the extent to which imperfect information may restrict the scope of firms to employ such punishments. One way in which firms may seek to make threats credible is through strategic investments, for example in production capacity 2"
8 pages (2000 words) Essay
Monetary Economics Essay
In an open economy however Keynes derived the following model: Y = C + I + G + (X – M) where X is exports and M is imports. In this paper we
6 pages (1500 words) Essay
Economics essay
But in the end, everything proved to be nothing but a huge bubble, which burst and blown away many innocents with it. Who is to blame for all this? I fully agree with Simon Jenkins, when he says “conman stuffed with
5 pages (1250 words) Essay
Economics Essay Argument
Commonsense solutions, instead of shouting contests, is what Behravesh supports in Spin Free Economics, which disregard political labels such as
3 pages (750 words) Essay
Labor economics essay paper outline
In most situations, the employers offer wages based on compensation principles. Labor costs entail expenses to a company associated with an employee comprising of wages, gains, and taxes together with insurance. I opted for this topic because the outlined
1 pages (250 words) Essay
Economics essay
s are required to produce output and hence if large number of workers is employed in the firm then higher output is produced and the level of work assigned to each worker diminishes (Black and Lynch, 2001). The work is distributed among the workers in order to make the work
8 pages (2000 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation