Microeconomics

monetary policy influenced the economic activity. (Mankiw, 2008). In conclusion, neo-Keynesian economics appeared about 50 years after Keynesian economics; it was mainly a revival of Keynesian economics and a new approach to new problems in microeconomics and macroeconomics. While both types differ in many aspects they build on each other and they try to offer realistic solutions to…

From a macroeconomic perspective globalization should be good for society. However, in a microeconomic world there can be an extreme amount of community pain as the world succeeds – economically speaking – while the local region collapses. Regions that are taking time to better understand why some succeed and others fail have a better chance of being prosperous as opposed to unsuccessful and ineffective in maintaining a standard of living. One way to go about success in the future is to…

its customers many products, such as Gift cards, toys for children and customer service center to help customer needs. The most used and profitable for both the customers and the company is air transportation or in other worlds air tickets. In Microeconomics, Air Tickets are described as a private good, which is by a privately owned business and purchased to develop the satisfaction of the…

flawed methods. The same can be said of indirect costs. Lowering the fixed overhead while maintaining scaled growth would be the ideal situation. It is imperative for the company to stay on top of what is going on in both the macroeconomic and microeconomic realm. Econometric techniques can also be employed to provide regression analysis on forecasted numbers. Using a statistically adjusted engineering approach would be my recommendation when using econometric techniques. It allows the…

Business is a network of processes and transactions existing to create wealth and value (White, 2010). This network is conducted through an interconnected web of individuals, and organizations, guided by leaders and managers who accomplish the organizational goals through other individuals. The business enterprise is embedded in the larger framework of the interconnectedness and interaction of individuals in society and reflects many of the characteristics of that society. Central to…

Apart of the high demand and cost for petroleum these days, coffee is appointed to be the second most traded product on global markets next to oil. Coffee is nature resources that is cultivated in more than 50 countries and provides living for more than 22 million farmers, altogether up to 100 million people are involved in the cultivating process, trading and retailing of the product globally. The aim of this report is to answer the questions given in the study case regarding to the demand and…

we suggest that there are some changes should be done in order to improve the situation. First, we recommend the development of reliable data on the scale, nature and impacts of migration in Ghana. It is unfortunate that reliable and consistent microeconomic data on the scale of remittances to Ghana, for example, is unavailable. Second, we suggest that a State agency or institution charged with overseeing migration affairs in the country should be established. At present, Ghana’s Immigration…

The British economist John Maynard Keynes (1883-1946) and the Austrian economist and philosopher Friedrich August von Hayek (1899-1992) are two of the most prominent figures in history of the economic science. Their economic thoughts not only had huge impact in the past, but, along with their debate, will continue to shape the future. Their ideas contributed to the vicissitudes of the world economy by influencing generations of policy-makers. During the Great Depression, US President Franklin…

Minorities did not have any rights before Civil Rights were enacted and police often treated minorities brutally. “In 1963 Police brutality was a serious issue for African Americans” (Crenshaw, 2011). Many people, including police officers felt that they could treat Blacks any way they wanted, abuse was common place and went without punishment due to the Blacks having no rights. “Africans brought to America had no rights which the White man was bound to respect” (MacNamara, 2009). In the 1960’s,…

Without any background knowledge in economics, neither business I must say it was difficult to understand the principles of economics. However, after reading and attending lectures I was able to learn and understand a great deal of economics and how it relates to the economy. I will therefore seek to explain three important lessons that I have learnt from the course. Firstly, I will define economics and its relations to real life experiences. Secondly I will look at demand and supply and last…