Economics essays

16th March 2020 The news story by Bill Curry “Liberals to unveil federal budget, economic package worth $1 billion in response to COVID-19” published in The Globe and Mail on March 11th 2020, summarizes the government of Canada’s current response to the global coronavirus pandemic. This article was chosen as it relates to the unit … Read more

Laissez Faire system and the economic policies that stem out of the system are undoubtedly, a produce of the West i.e Global North. The likes of Adam Smith and John Stuart Mill propagated it, but that was two centuries ago. Laissez faire is a very prominent feature in the Global North in this day. In … Read more

Abstract In recent years, Africa has been undergoing its own industrial revolution. With a young and talented population, African nations are destined to reach their economic objectives. Africapitalism is an economic term that was introduced by Mr. Tony O Elumelu and it is quite a hot topic on the African continent. Mr. Elumelu is a … Read more

This case study will address the concept of inflation – the rise in average level of prices sustained over time that corresponds to a fall in the internal (domestic) purchasing power of money – with regards to Venezuela. The goal here is to explore several trains of enquiry in order to critically evaluate the impact … Read more

Plenty, ‘cuts’ and ‘waste’: how young professionals imagine the economic in post-recession Peckham Abstract This report looks at how young professionals interviewed in Peckham in 2012 conceptualise the post-recession economy in the context of their personal household and the local borough. It takes a grounded theory approach to the secondary analysis of nine transcripts drawn … Read more

Economic development is a fairly new idea that arose during the early twentieth century. Many theorists attempted to define economic development and to differentiate it from the concept of economic growth.According to economists, Gerald Meier and Dudley Seers, these two concepts are different from each other and they stressed that economic development cannot be equated … Read more

In his State of the Nation Address 2014, President Jacob Zuma, concedes that despite the achievements of the democratic government, South Africa ‘still faces the triple challenge of poverty, inequality, and unemployment’ (State of the Nation, 2014). This triple challenge of poverty, inequality and unemployment, is the democratic government’s biggest test to date. The arguments … Read more

Bank of Japan’s (BOJ) assessment to adopt a negative interest rate to encourage borrowing, spending and investment has failed to have the intended effect as the Japanese government continues to accumulate a debt of 233% of GDP in late 2018. Lower interest rates imposed by the BOJ to revive the economy has failed to intensify … Read more

Economic globalization is the process of increasing the financial integration amongst countries. Consequently, economic globalization leads to the development of a “global marketplace” or “a single world market”. Economic globalization is enhanced by the accession of multinational enterprises, which result into the rise of the profits of that “global marketplace”. It is hard to define … Read more

Title: Globalisation has benefited everyone. It helped all the people to increase their living standards, brought advantages to organisations and businesses and enabled economies to develop.” Discuss Introduction We live in a self-regulating world. Countries are influenced by the economic health of other countries and by their governments’ policies. Problems in one part of the world can … Read more

Free trade is a trade where countries carries out economic activities ‘without restrictions or barrier such as import and export tariffs’, barrier to market entry and policies (Johnston, Gregory, & Smith, 2011, free trade). Many countries have reaped benefits from free trade and especially developing countries. Some benefits include improvement in infrastructures, expanded markets, access … Read more

Non-democratic regimes are forms of government which are controlled by only a small group of individuals, who “exercise power over the state without being constitutionally responsible to the public.”[1] According R. Tannenbaum and W. Schmidt, such regimes result in “autocratic leaders [ruling] by issuing threats and punishments and evoking fear”[2], while Freedom House suggest there … Read more

According to Keynesianism, choices took by the private sector occasionally have ineffective macroeconomic outcome. As a consequence, this school of macroeconomic idea supports the usage of vigorous strategy and fiscal response measures by making use of the public sector, monetary policy actions started by the central bank and fiscal policies espoused by the government with … Read more

The similarities and differences between the Australian and Chinese economies provide an interesting comparison of economic systems throughout the world. They both differ and coincide with each other’s economic growth, environmental sustainability and the role of each of their governments. Since the late 1970’s, china has begun to move from a closed, centrally planned system … Read more

During the Early 1900’s and late 1800’s a drastic shift from agrarian society to an industrial economy occured, bringing about new patterns of production. It created new class structure, clearly separating the wealthy and working class. Factory assembly lines replaced apprentice workshops and machines replaced skilled craftsmen. Entrepreneurs Like John D. Rockefeller and Andrew Carnegie … Read more

Externalities can be simply defined as unintended consequence to an action, weather that be positive or negative. In the energy market, externalities are almost always negative as the process to obtain energy for commercial use can exploit workers, generate toxic waste, and be unevenly distributed. Unfortunately, energy producers most often do not take the social … Read more

Income inequality has been a long-term issue in the United States but more recently an article came out about how racial economic inequality benefits the richest 1%. Americans are consistently struggling when it comes down to African Americans and Caucasians and the inequality between the two is baffling, not only in income, but all aspects … Read more

Many people believe that the digital currency such as – bitcoin and cryptocurrencies are the trendiest investment and opportunity currently accessible. Certainly, there are so many stories of individuals becoming millionaires through Bitcoin investments, for example Mr. Smith from the article “Meet The Man Traveling The World on $25 Million of Bitcoin Profits” (Bishop, J. … Read more

John Maynard Keynes and Friedrich Hayek were economists. Keynes believed in government regulation of markets. Hayek believed in free markets. Lenin was against the world economy and opposed International Trade. His ultra-communist policies were a disaster in the Soviet Union. Keynes was an economic adviser to the British government during and after World War I. … Read more

WHAT IS AUCTION? An auction is a method of purchasing and selling of goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. TYPES OF AUCTIONS. • English auction: mostly referred to as “open ascending price auction’’ is a type of auction that is the … Read more

A good working economy is a crucial element of a successful state. Therefore, this chapter will be dedicated to how a totalitarian government can influence the economy of its own nation and vice versa. 3.1 THE Economy of an Autocracy Autocrats care about their ‘public image’, since this partly determines the likelihood for a popular … Read more

Succinctly and superficially, Turkey’s economic crisis of 2001, which led to a downturn of around 12 percent, was caused by too-high public deficits, out of control inflation and the subsequent devaluation of the lira (Kriwoluzky and Rieth p 356). But to understand how this happened, we must first look at Turkey’s history of chronically high … Read more

B – Theoretical approach The phenomenon of inflation is not recent, this concept and its effects on the real economy variable have been explored since the classical economic theory but have been explored further with the development of the modern economic theories. Below will be explained the inflation and its effects on the economy growth … Read more

The final chapter of this research paper, where all the results gotten the previous chapter will be discussed and summarized. Another related research finding are also talked about, before concluding and giving some recommendation if need be. 5.1 SUMMARY AND FINDINGS An empirical study and analysis were carried out to determine the result of two … Read more