The Godrej Group: Introduction The Godrej Group, which was founded in 1897, has its roots in the Swadeshi movement and Indian independence. Before finding success with a locks business, the founder, lawyer-turned-serial-entrepreneur Ardeshir Godrej, tried his hand at a number of unsuccessful businesses. Today, 1.1 billion people worldwide support the businesses in a variety of … Read more
Executive Summary This Global Management Project (GMP) is focused on two different international economic development methodologies, microfinance institutions (MFIs) and business incubators for economic development. This is in response to assumptions made by co-founders Mr. and Mrs. Jones (names have been substituted) and their long-standing interest in international development and poverty alleviation. The Jones’ believe … Read more
Introduction Banking crises triggered development of regulations to safeguard the system. Domestic and international banking regulations were instituted and reformed over time to strengthen regulatory and supervisory frameworks since risky banking procedures were attributed to the financial crunches (Bertus, Jahera & Yost, 2007). Specifically, the crucial role of banks necessitated regulation and supervision of capital, … Read more
How was innovation utilized as a military favorable position in European colonization? In Jared Diamond’s discourse, “Guns, Germs, and Steel” He exhibited solid contentions regarding how innovation gave them a colossal favorable position amid victory. Diamonds’s best reasons will be clarify in this exposition and used to examine this contention. In any case, Europeans had … Read more
A renowned Professor of Economic History at Oxford University, Robert C. Allen is perhaps the best source for discourse on the economic history of the world, a study to which he refers as the queen of all social sciences (Allen, 1). His book, Global Economic History, embarks upon a journey to answer a question that … Read more
6th Form Economics project: Nuclear power, the energy of the future of the 1950s, is now starting to feel like the past. Around 450 nuclear reactors worldwide currently generate 11% of the world electricity, or approximately 2500 TWh in a year, just under the total nuclear power generated globally in 2001 and only 500 TWh … Read more
Economic freedom leads to public satisfaction. Capitalism provides more freedom, economic or otherwise, than communism. Many things attribute to economic wellbeing, such as content with the government system, the presence of innovation, competition, and global economies. Each of these essential attributes of economic wellbeing are connected to capitalism and the effects it has on the … Read more
‘Economics has never been a Science – and it is even less now than a few years ago.’ Paul Samuelson describes how economists prefer to refer to their theoretical models – those which have minimal affiliation to the real world, for they are unable to consider the irrational human behaviour on state or macroeconomic affairs. … Read more
The economic concept that is being displayed in this article is (Elasticity of Demand). Elasticity of demand is the responsiveness of demand to a change in the price of a good or service. To determine whether this is a inelastic or elastic demand we need to analyse the characteristics of each type of demand. Elastic … Read more
“Researchers at the University of Oxford suggest the UK Government impose a tax on red meat” The aim of the government’s possible imposition of a tax on red meat is to internalise the many negative externalities of the consumption of red meat. There have been huge amounts of research into the health risks associated with … Read more
The IS-LM model is also known as investment-savings and liquidity-money. In Keynesian economics, the model represents how the market for economic goods (IS) interacts with the money market (LM). Both lines intersect and that represented the short-run equilibrium between interest rates and output. In 1937, the IS-LM model was introduced by economist, John Hicks. This … Read more
Marx’s contempt for the capitalist society of which he was surrounded in is seen clearly in his Economic and Philosophical Manuscripts written in 1844. These focus on the issue of alienated labour of which engulfs the early industrialist society he lives in. For Marx, the link between alienation and capitalism is inherent due to the … Read more
The two main engines of American economic growth in the late 19th and early 20th centuries were the railroads and the steel industries. Since the railroad was expanded, more coal and iron were needed for the trains. This gave jobs to a large amount of people since so much was needed. The steel industry was … Read more
1. The U.S. economy is more integrated today than it was over a century ago because of the development of things like instantaneous communications, modern transportation, and relatively open trading systems. After World War I & II and the Great Depression, the world economy suffered as countries became de-integrated by closing their borders to foreign … Read more
Interest rates refer to the cost of credit or debt capital computed as annual percentage ratio (APR) interest to the principal. Lower interest rates are set with the aim of spurring an economy out of recession. Although low interest rates encourage businesses and consumers to borrow and buy more which tends to put money into … Read more
Writing economics essays
The field of economics is vast and encompasses various aspects of the global economy. Here are some important themes, topics, and points that students can consider when writing an essay in the field of economics in 2023:
- The impact of the COVID-19 pandemic on the global economy, including the economic recovery and government policies to address the pandemic’s effects.
- The role of innovation and technological progress in economic growth and development.
- The impact of globalization on income inequality, trade policies, and labor markets.
- The relationship between economic growth and environmental sustainability, including the impact of climate change and the transition to a low-carbon economy.
- The impact of demographic trends on the economy, including aging populations and migration.
- The role of institutions, such as central banks and regulatory agencies, in shaping economic outcomes.
- The impact of inequality, including wealth and income inequality, on economic growth and development.
- The economics of healthcare and healthcare policy, including access to care, cost containment, and innovation.
- The impact of emerging technologies, such as artificial intelligence, blockchain, and cryptocurrency, on the economy.
- The role of entrepreneurship and small business in economic growth and development.
When writing an essay on this topic, students should choose a specific aspect of economics that interests them and focus on developing a clear thesis statement that addresses a particular issue or question. They should also provide evidence to support their arguments, draw on relevant academic sources, and consider the perspectives of different stakeholders, including policymakers, business leaders, and economists.