Microeconomics

I can focus on courses that relate to my major rather than having to focus on electives. Even though I could not take other classes such as statistics or global interactions it was more beneficial to take this course. If for some reason if my microeconomics credit does not transfer the credit will at least count for an elective in college. Again, this still will allow for me to get more in depth with my major sooner. However, by challenging myself and taking this course I have added to the…

1) Oligopoly: Oligopoly is a type of market structure in which very few sellers or firms holds the majority of the market. Oligopoly is resulted from a wide range of collusions which makes the competition to be lower and makes high prices for consumers. There is no specific limit for the number of firms but the number should be minimum. The actions of one firm will automatically effect the others firms.…

The Effects of Minimum Wage on Unemployment Colton Fambro ECON 4311 – Econometrics and Forecasting 9 April 16, 2018 1. Executive Summary The question being answered is what the effects of minimum wage on unemployment is in the year 2017. The final regression consisted of; minimum wage, average minimum wage of neighboring states, high school graduates, individuals with bachelor’s degrees, and state income tax rates. When the regression was run, it was discovered that minimum wage increases do…

important it allows the workers to have an advantage and focus on where they are good. 2.workers who specialize are more likely to price more at a faster pace in a good quality. Allow economic agents to take advantage of economies of scales. 2. Microeconomics is about specific roles (Examples: A Tree). Macroeconomics is focused on the economy as a whole (Example: A forest). 3. What are the three main goals of macroeconomics? 
 1. Everyone employed/ no unemployment 2. Have stable economic…

production of good and supplies. The more the producers makes of the product and supplies it the more the economy is grow. Tax policy is a choice the goverment makes as to what taxes to impose, how much to impose or levy , and on whom. It has both microeconomics (effects of individual decisions) and macroeconomic (example: interest rates) aspects. Regulatory policy is using regulations, laws, and other instruments to get better economic outcomes that can help make the life of citizens…

Do you know that air travel is considered the safest form of transportation compared to driving or taking a train? The airline industry expects to see a “31% rise in passenger demand for 2017” per the International Air Transport Association. Middle East and Asia will see the strongest growth between 6.3% and 5.7% and Africa and Latin American will see a 5.3% and 4.5% growth rate. The United States; however, will continue to be the “largest single market for domestic passengers.” (IATA, 2013)…

As can be seen above, monetary policy has shown to be an effective economic tool to help in minimising unemployment. However, further research has shown that not only monetary policy can be effective, but there are additional efficient ways in solving this matter. The two main strategies for reducing unemployment are demand side policies and supply side policies. Demand side policies reduce demand-deficient unemployment, unemployment caused by a recession. On the other hand, supply side…

courses it’s possible to slip by with all A’s. Basically, colleges love to see how well students can handle these difficult courses since it’s a good indicator of their learning capabilities and ability to cope with stress. Allan Stewart, an AP microeconomics teacher, believes that “we need to be dynamic in what we offer students. They already receive a GPA boost, which is pretty substantial, but I try to emphasize the monetary value of the test, where $92 is much less that a several hundred or…

ACES Career Fair Reflection I was amazed as I walked into the ACES Career Fair. I knew there would be a lot of businesses at this event, but I was not able to quantify just how many until I walked around. Since I grew up on a grain farm, I have been familiar with many of these companies surrounding me, such as John Deere, AgriGold, and Pioneer. However, before the career fair, I still researched what companies would be present on Handshake, and I formulated a plan to speak with AgriGold, DuPont…

to amend the changes to the country’s tax code and financial regulations. As we look to the future, it is especially important to consider all of these potential solutions and take a research based approach firmly rooted in the foundation of microeconomics to make changes to the country’s economic system in order to better provide equitable opportunities to all. “Trickle-down economics” has proven itself to be ineffective on both the national and global scale. At its heart,…