Economics

Book Report Naked Economics is a book in which author Charles Wheelan provides insight into economic concepts and foundations through his comprehensible firsthand accounts and vivid examples. He avoids explanations involving graphs, charts, and formulas in favor of appealing to the majority of readers that are not economists and prefer his use of plain English and amusing anecdotes. Naked Economics provides a broad overview of how economics explains why certain things work and others don’t work…

of many economic crises and these tempted many great minds to think about the reasons behind these crises. Their reasoning generally affected by the time and geography they lived in. Capitalism started with and led to the many economic crises even in its earlier stages. Late 18th and 19th centuries had witnessed many economic recessions, unbalances, instabilities in Western Europe and Marx and Malthus are the two of the best-known economists of this era who tried to explain ongoing economic…

Friedman vs. Keynes Everybody knows that economics is simply defined as the study and understanding of the economy, including the system of government, the people, and anything else that deals with money and all financial matters. When people discuss economics, some of them prefer to split it into two separate branches which are microeconomics and macroeconomics. Microeconomics is the branch that reviews the market’s act specifically for individuals hoping to understand how they make decision…

5 most important economic variables (1) GDP (2) Interest rate (3) Personal income and consumption (4) Debt (5) Inflation 【GDP】The gross domestic product (GDP) is one of the most important indicators to evaluate the condition of a country 's economy. It represents the total dollar value of all goods and services produced over a specific time period; thus the size GDP would also indicate the size of the economy of the country. Normally, GDP is used to compare with the previous quarter or year’s…

fall of Cuba’s gross domestic product (GDP) at the percentage of thirty-five between the year 1989 to 1993 (Peters, 2002). The vanished subsidies on heavily mechanized and chemical input for agricultural production of Cuba, eventually contribute to economic crisis that led to drastic food shortage. As the country was heavily dependent on chemical input such as pesticides and chemical fertilizer for their agriculture production, especially on producing sugar for the purpose of…

ECONOMIC MAGNET The economic system works like a simple machine with a pivot (money) around which it revolves. To appreciate the functioning of the economy, one needs to analyze the behavior of each economic agent or individual. Understanding of each individual decision making process is essential in unravelling the mystery surrounding the success or failure of an economy. Adam smith in his famous book “the wealth of nations” opines that if every individual is allowed to maximize his own…

Trumps Economic Policy: Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labor market, national ownership, and many other areas of government interventions into the economy. A government has many aspects of economic components. Some of them are listed below: •Macroeconomic Stabilization Policy. •Trade policy. •Policies related to…

availability of wealth within a society. Unemployment is both a cause and symptom of this problem in the sense that individuals who are unemployed are inherently disadvantaged in their place within a society whilst economic inequality also produces the inability to find work. Economic inequality should be viewed under the scope of class, the implicit (or sometimes overt) hierarchies or social forces in societies that dictate the manner of work an individual has access to or may engage in. What…

In order to fully understand the economic costs and benefits of amending the SDFSCA it is important to view bullying from an economic perspective because it shows who gets to implement anti-bullying programs and why. While analyzing bullying from an economic perspective, it is important to note what good or service is scarce. Scarcity within bullying shows that there is too few anti-bullying programs to satisfy the need for them. One economic principle that is relevant when looking at…

the economic concept behind and the threat of these is much more serious. Keep the currency stable and reliable is the functions of the national government traditionally. The authorities control the money supply, set interest rate target, in order to promote economic growth and prevent runaway inflation caused market exchange system’s failure. On the basis of the needs of economic to adjusted monetary policy, is a difficult task. Central Banks are hiring hundreds of people to analyze economic…