...Economic Advisement Paper Option 1: Economic Advisement Paper With a nominal GDP estimated at more than 15 trillion it is clearly the United States economy is one of the largest in the world. A person must have lived in a cave underground for the past several years not to know that the current state of the nation’s economy is in desperate need of improvement. There are different schools of thought about how the economy arrived at its current state. Conversely, there are different schools of thought on how to restore the economy. There are some who would advocate that going back to the same economic policies that created the currents conditions of the economy. Their philosophy is that if we stay the current course the economy would somehow miraculously recover itself over a period of an unknown amount of time. These same individuals believe that people are better off left to fend for themselves in this economy. On the other hand there are others that believe government intervention is the key to a faster economic recovery. In the following paragraph of this paper team C will discuss the current state of the United States economic recovery from the prospective of Unemployment, Consumer income, Interest rates, and Expectations respectively. This information will be summarized and recommendations made to the president regarding government spending and taxes based on the aforementioned economic factors. Aggregate supply and demand looks at the economy as a whole. Aggregate...
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...rates, interest rates, and budget shortages. Macroeconomics provides a combined outline to report these issues and to examine the effect of different policies, such as fiscal and monetary fiscal policies, on the total behavior of individuals. This paper will define specific terms of macroeconomics and how specific examples of economic activities affect government, households, and businesses. The following terms explains the fundamentals of macroeconomics. Gross domestic product (GDP) is the aggregate of the selling prices, or values, of all finished goods and services made in the economy during a specific time frame and calculates the rate of economic activity inside the country. Real GDP is an evaluation of the value of production the economy creates. Nominal GDP is the current market value of all products and services created in the United States. Unemployment rate is the proportionate rate of the amount of individuals unemployed but are still looking for work. Inflation rate is the percentage of the rise or fall of rates on prices. Interest rate is the yearly amount charged by the lender on a product or service for the borrower to acquire the loan and allow the lender to get a return on the investment. Economic activities such as purchasing groceries, a massive layoff of employees, and the decrease in taxes are associated to distribution, production, exchange, and expenditure of goods and services. Every one of these activities may affect businesses, households...
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...(ASEAN) LEARN FROM EUROPEAN UNION (EU) TO BE A SINGLE MARKET? By Group 1 Abstract This group paper attempts to show the background difference between ASEAN and EU. Despite the differences ASEAN still can learn from EU to be a single market. This group paper also attempts to discuss whether it is possible for ASEAN to be in a single market without facing major difficulty. Introduction In November 2002, ASEAN members held a meeting in Phnom Penh where the meeting participants proposed that the members consider the creation of an ASEAN Economic Community (AEC) by 2020. This is really nothing new, ASEAN has always carefully studied the progress of EU being a single market. Essential Differences Too often ASEAN is compared to the EU in an international context, however the objectives and motivation behind the founding are in no way to be comparable, below are some of the arguments: 1. EU was formed due the internal (regional) pressure to unify. Two world war in two generation has greatly motivate EU to form a political union, which started with unifying the economy. EU’s economy and political union was to the emerging from the devastation of the World War II. On the other hand, ASEAN formed AFTA to face the challenges from the external towards globalization and regionalization. The aim to create a loose network which without a legal basis under international law, to promote economic corporation, to avoid conflicts between member states and to develop strategies against possible...
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...In this paper I will discuss the history and evolution of healthcare economics and the timing of healthcare funding. In the 21st Century healthcare is proven to be one the largest industries that generates a great deal of money in the world. Therehas been a dramtic change in healthcre the last last hundred years. As changes and progression are examined, it becomes clear that healthcare along with the economy has created an important part of the American life. Healthcare History Health care economics presents information where efficiency and equity goals are pursued. Furthermore, economics establishes a framework by maximizing benefits using resources at hand. Kenneth Arrow, the person responsible for mentioning the idea of health economics as a discipline, wrote an article titled “Uncertainty and the Welfare Economies of Medical Care” in 1963. The article discusses how the medical care industry benefits society compared to the “norm”. Furthermore, Mr. Arrow wrote about the significance of supply and demand. Arrow discussed that the average person has the characteristic of only seeking medical care when they are suffering from a critical injury or illness. Its not common for the average person to receive routine medical services on a regular basis. As Mr. Arrows discussed supply condition, he quoted “Entry to the health care profession is controlled by licensing. Licensing manages the supply which consequently increases the cost of medical care”. Medical care was expensive...
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...Economic Issues Simulation Paper HCS/440 Economics: The Financing of Health Care June 4, 2012 Caryn Callahan I’m a representative of Castor Collins Health Plans insurance. As a representative of the company my job is to maximize profit and minimize risk for the company. The simulation states Castor Collins has been approached by two groups of people for health insurance (University of Phoenix, 2007). Both companies have a set rate that their employees are willing to pay. According to the simulation the first group, Constructit consists of 1,000 while, the second group, E-Editors, comprises of 1,600 people (University of Phoenix, 2007). It is up to my team to select the appropriate plan that meets Constructit maximum annual premium of $4000, and E-Editors maximum annual amount of $4,500 (University of Phoenix, 2007). The simulation stated the three insurance plans that Castor has are Castor Standard, Castor Enhanced, and Castor Enhanced Minor (University of Phoenix, 2007. Although Castor Standard is good plan it does not cover pre-existing conditions. The Castor Enhanced does cover pre-existing conditions. In addition, we have the Castor Enhanced Minor Plan that is also a customized plan. With this plan we have the option of removing adding services that may have high utilization in an effort to satisfy our client Constructit needs (University of Phoenix, 2007. Demographics of Constructit According to the simulation Constructit consists of 550 men and 450 women, in the...
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...At last, and finally, here is the first accurate and beautiful translation of Richard Cantillon's 1755 masterpiece on economics. This treatise is widely credited with being the first to describe the market process as one driven by entrepreneurship. William Stanley Jevons, in the first blush of discovery, proclaimed Cantillon’s Essai, “the cradle of political economy.” A cradle holds new life; and there can be little doubt that the Essai added new life to the organizing principles of economics. But “political economy” does not accurately describe the subject Cantillon addressed. Indeed, he scrupulously avoided political issues in order to concentrate on the mechanics of eighteenth-century economic life. When confronted by “extraneous” factors, such as politics, Cantillon insisted that such considerations be put aside, “so as not to complicate our subject,” he said, thus invoking a kind of ceteris paribus assumption before it became fashionable in economics to do so. Murray Rothbard, for this reason, called Cantillon the "founding father of modern economics." This book preceded Adam Smith by a generation. Unlike any previous writer, Cantillon explicated the vital role of the entrepreneur with perception and vigor. Hence, he deserves to be called “the father of enterprise economics.” We know little of Cantillon’s life and the circumstances of his authorship. The manuscript that was eventually published in 1755 circulated privately in France for almost two decades before;...
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...7 TOPICS FOR FURTHER STUDY The Theory of Consumer Choice 21 Copyright©2004 South-Western The theory of consumer choice addresses the following questions: Do all demand curves slope downward? How do wages affect labor supply? How do interest rates affect household saving? Copyright©2004 South-Western THE BUDGET CONSTRAINT: WHAT THE CONSUMER CAN AFFORD The budget constraint depicts the limit on the consumption bundles that a consumer can afford. People consume less than they desire because their spending is constrained, or limited, by their income. Copyright©2004 South-Western THE BUDGET CONSTRAINT: WHAT THE CONSUMER CAN AFFORD The budget constraint shows the various combinations of goods the consumer can afford given his or her income and the prices of the two goods. Copyright©2004 South-Western The Consumer s Budget Constraint Copyright©2004 South-Western THE BUDGET CONSTRAINT: WHAT THE CONSUMER CAN AFFORD The Consumer s Budget Constraint Any point on the budget constraint line indicates the consumer s combination or tradeoff between two goods. For example, if the consumer buys no pizzas, he can afford 500 pints of Pepsi (point B). If he buys no Pepsi, he can afford 100 pizzas (point A). Copyright©2004 South-Western Figure 1 The Consumer s Budget Constraint Quantity of Pepsi 500 B Consumer s budget constraint A 0 100 Quantity of Pizza Copyright©2004 South-Western THE BUDGET CONSTRAINT: WHAT THE CONSUMER CAN AFFORD ...
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...Los Angeles did just that when they decided and took a major step toward building a downtown stadium to lure an NFL team back to the nation's second-most populous city, despite questions about how a 72,000-seat venue in the urban core would impact notorious freeway traffic, nearby housing prices and air quality. Last fall the city council unanimously voted for a new stadium to be constructed in the heart of downtown. The construction of the new stadium comes with its benefits for the debt ridden city. Developers for AEG submitted and won a contract to complete the construction for Farmers Field for 2016. In the past when new stadiums were built much of the renovation and construction were subsidized which in turn leads to a great economic impact. Realistically, employment, visitor spending, public spending and revenue are the benefits that the city wants to bring into play. But one factor that has been overlooked for city great city is that some feel how this new stadium will benefit the community as well. In Hind sight, one city council member has stated, that she hopes that this will give the city back a sense of pride and civic duty in the community. City councilwoman Jan Perry, one of the driving forces behind Friday's vote, called it, "The day we bring football back to L.A.," and "a giant step forward for the city" (Saxon 2012). Farmers Field and the convention...
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...Team C, you winners, losers and personal impact need expanded, see comment below, assignment grade 31/40 I. Summary: * Founder and Promoter Chris Pook * 40th Long Beach Grand Prix * April 11-13, 2014 * 80 laps * 157 miles * 2014 Winner Mike Conway Bromley, England * Seven Racing Events * Several Sponsors * Pro/Celebrity Race * Primary Financial Contributor Toyota * Great Family Outing * How many attendees? II. Winners of the Event: * El Dorado Park Golf Club in Long Beach * Children Hospital of Orange County * Millers Children Hospital of Long Beach * Long Beach Area Special Olympics * Robert E. Leslie Scholarship Program * Vendors * The City of Long Beach, State and County government * Parking Areas i.e. parking garages or parking lots * Westin Long Beach Hotel * Hilton Long Beach * Mothers Car Polish * Security companies * Law enforcement, overtime * Tourism industry * Credit card companies * Producers sellers of alcohol and snack foods * Car companies III. Losers of the Event * Long beach convention center did not book any event for that weekend * Bad publicity for the brands of cars and tires that did poorly in the race * Long beach transit has several routes closed that day because of the event * Restaurant located on the street race were closed * DUI fines for some people who attended the race and got pulled over by...
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...Option1: Invest $3,000 on Capitaland’s (Company A) shares for 20 years. Company A – CAPITALAND * Assumption: * No Brokerage fees, Clearing fees, Access fees and GST fees charges * Standard stock purchase is at 1,000 shares/ per lot * Examples shown are purely for academic and presentation purpose Per share price (as on Stock Exchange) as per 21 April 2011 – Capitaland – Closing price at $3.45 Number of shares to purchase: $3,000/$3.45 = 869 shares Interest Rate at 15% compounded monthly: 15%/12 months = 1.25% per month Interest for 20 years, period of: 20 X 12 = 240 periods Formula to calculate future value: FV = P (1 + R) N Expected future value for investment on Capitaland: $3,000 X (1 +0.0125) 240 = $59, 145 Therefore the expected future value for investing in Capitaland stock fund with the expected interest rate of 15% annually, compounding frequency, monthly is $59,145 for a period of 240 periods with a total amount invested at only $3,000. Option 2: Purchase a semi – annual ordinary annuity of $600 for 20 years. Bank A: UNITED OVERSEAS BANK LIMITED CO. * Assumption: * No Brokerage fees, Clearing fees, Access fees and GST fees charges * Examples shown are purely for academic and presentation purpose Interest rate at 8% compounded semiannually: 8%/2 = 4% Interest for 20 years, period of: 20 X 2 = 40 periods ...
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...Paper continues to be a major commodity and substitutions are limited. Paper finds usefulness in many products that we use daily for things like writing, the walls in our homes, and we have even found opportunities to eat our food on it. It is evident the paper and paper products are considered a necessity for consumers daily usage. Paper is used for personal and professional use. Paper is used to make money, bills, paper to complete class assignments, advertisement, and many other daily activities. There has been a small shift in paper due to some ecological experts. Many companies give consumers the option to have direct deposit, receive bills online and also to pay bills online. (Hubbard, 2010, p. 175) Perhaps we will never see the complete “paperless environment” for business operations which many businesses refer to. The challenge is that there exist very few if any substitutions for paper and all that this commodity is useful for. However, recently we find some substitutions for some of the products that paper has been used for. Where one may have seen commercial paper towels in public restrooms in past years, one often finds such paper products replaced by electric hand dryers. Where many business offices have been accused of killing forests with the amount of paper that has been used for their operations, a revolution towards digital imaging is beginning to reduce paper usage in offices. Yet, even with all these innovative substitutions for paper products, this commodity...
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...Economics Opportunities Paper University of Phoenix US History 1865 to 1945 HIS/120 Alison Cundari Economic Opportunities Paper As the America experienced changes and progressed economically the demand of immigrant labor has become popular. With this in mind as a promoter I would like to seek new immigrant labor from Europe to fulfill the requirements and demand of workers in our country. Better opportunities, economic growth, immediate employment as well as other incentives will be given to all interested immigrants that would like to come from Europe to the United States. First for individuals that are interested in immigrating to the United States from Europe many opportunities will be offered that would improve the lifestyle that was previously encountered in his or her country. All immigrants will be provided with a better life as better opportunities will be given not only for working situations but also personal lives. Some examples would be living in a non-slave country, granting housing and having available land to farm freely. Similarly, political and economic freedom will be given to all immigrants coming to our country without discrimination. The most important incentive would be to have immediate employment presented to all immigrants. With this employment immigrants will come across better opportunities as he or she will be able to purchase food, clothing or supplies needed for survival. At the same time, new...
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...Economic Forecast Paper The discussion in this paper is about Economic Forecast. The different places that are discussed will be The Bureau of Labor Statistics, The Economic Report of the President, The Federal Reserve System, and The United States Census Bureau. Over the course of this paper we will see how each department is important in our economy and what each department does in order to help or hinder the economy. The Bureau of Labor Statistics The Bureau of Labor Statistics (BLS) was established on June 27, 1884 as a division of the Department of the Interior. President Chester Arthur appointed Carroll Wright as the first Commissioner of Labor. Many studies, reports, and statistical ideas developed under Wright’s tenure, “but perhaps his greatest accomplishment was the establishment of the principle that the Bureau would be devoted to ‘the fearless publication of the facts without regard to the influence those facts may have upon any party's position or any partisan's views’” (“History of BLS”, 2013). As the fundamental fact finders for the Federal Government in the area of labor economics and statistics, the BLS collects data from various sources. It processes and analyzes the data before publishing essential statistics for use by the American public; federal, state, and local governments; and businesses. “BLS data must satisfy a number of criteria, including relevance to current social and economic issues, timeliness in reflecting today’s rapidly changing economic...
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...ECO 100 – Principles of Economics COURSE DESCRIPTION Presents a survey of basic macro- and microeconomic principles and concepts. Reviews the economic dynamics of market forces affecting competition, different economic systems, the role of government in the economy, and economic aspects of international trade. Discusses the labor market, interest rates and the supply of money, and performance of a national economy. Examines the use of economics in business decisions, considering such principles as opportunity costs, diminishing returns, and the marginal principle. INSTRUCTIONAL MATERIALS Required Resources O'Sullivan, A., Sheffrin, S., & Perez, S. (2012). Survey of economics: Principles, applications, and tools (5th ed.). Upper Saddle River, NJ: Pearson-Prentice Hall. MyEconLab book key Note: This book key comes with the purchase of a new textbook and is needed in order to access MyEconLab. Supplemental Resources Aaronson, D., Mazumder, B., & Schechter, S. (2010). What is behind the rise in long-term unemployment? Economic Perspectives, 34(3/4), 28-51. Andreyeva, T., Long, M. W., & Brownell, K. D. (2010). The Impact of Food Prices on Consumption: A Systematic Review of Research on the Price Elasticity of Demand for Food. American Journal of Public Health, 100(2), 216-22 Heyne, P., Boettke, P. J., & Prychitko, D. L. (2010). The economic way of thinking. (12th ed.). Upper Saddle River: Pearson-Prentice Hall. High, J. (2011). Economic Theory and the Rise of Big Business in...
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...Economic Project Paper Abstract Firms experiencing or anticipating substantial workforce expansion face increasing pressure to accurately project the costs associated with human asset investments and potential future layoff requirements. With that in mind, the decision whether to take on temporary workers in lieu of hiring permanent employees is a decision that involves significant risk. However, real options theory offers managers the ability to consider irreversibility and to make workforce investment decisions under conditions of minimum uncertainty and maximum flexibility. We present real options theory within our organization analyzing both sides temporary and permanent hiring to yield maximum profit considering implicit and explicit factors and economic risks. Introduction The cost of production, inventory and sells means money expenses incurred by a firm on production of a commodity but in economics sum of explicit costs and implicit costs constitutes total cost of production of a commodity. We have seen that human are satisfied by way of goods and services which are sold by firms, respectfully. For selling a commodity, a firm requires factor inputs and non factor inputs. The money spent by the firm on both factor inputs and non factor inputs is called money cost. In economics money expenses alone do not provide a solid result in increased profits. As we examine the cost and benefit of selling our paper products in relation to increase stuff by way of temporary or permanent...
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