Define and explain the concept of an income elasticity of demand for a product
Essay - 4 pages - Economy general
Would you expect the income elasticity for potatoes and DVDs to be large or small? If the supply of oil is price inelastic in the short term, what would you expect the impact of an outwards shift in the demand for oil to be? What might happen in such a situation in the long term? In economics we...
Environmental Economics: global warming
Essay - 14 pages - Economy general
This essay is about the climate change and the direct and indirect effect on our environment, not only caused by human activities. The increased concentration of the greenhouse gases which include carbon-di-oxide and others, over the last 150 years has dramatically progressed. This fact, caused...
In order to promote the wealth of nations, what should be the relationship between the visible hand of the state and the invisible hand of the market?
Essay - 8 pages - Economy general
The decline of social democracy in Europe during the last decade is one of the examples which seem to show that there is no other global alternative for a state regulation under the market in the globalisation context. The predominance of the market in a political economy is not recent. Adam...
Pros and cons for the UK to join the Single currency
Essay - 4 pages - Economy general
For many people, in favour of the EMU and the sceptics of EMU alike, the single currency points is inescapably part of the political union. Looking at past history, monetary unions linking independent states of dissimilar size and power (like that of Belgium and Luxembourg today) have not been...
Garten (Jeffrey E.), the Big Ten
Essay - 5 pages - Economy general
Jeffrey E. Garten is a Washington executive who entered the Clinton administration in the summer of 1993 as the Under Secretary of Commerce for International Trade. During his tenure, he decided to launch the Big Emerging Markets' project ('BEMs' project). This project flagged of with...
Globalization and employment
Essay - 5 pages - Economy general
Globalization is one of the most controversial topics in today's world. Globalization raises fears and apprehensions and the most prominent one that stands out is the growing power of multinational firms that bestows them with the right to retract jobs whenever and wherever they want....
The future of financial centres in the European Union
Essay - 4 pages - Economy general
The working of European Union was expected to be similar to the United States of America. Theorists believed that Europe will have a financial hub similiar to the Wall Street in the United Sates and questioned the future of the European Union. Establishing inter-market deals among the European...
Box-Jenkins vs. artificial neural networks in predicting commodity prices forecasting the export prices of Thai rice
Essay - 8 pages - Economy general
International commodity prices are determined by supply and demand, and to a large extent, governmental interventions through trade barriers and subsidies. Forecasting rice prices has always been a great challenge to researchers because determinants of supply and demand such as agricultural and...
A study on the major wage theories and their relevance
Essay - 10 pages - Economy general
Wages are income derived from human labor. Salaries are similar to wages, but denote a more routine and constant payment on a time bound basis, as opposed to a work-bound payment association of wages. The term Wage and Salary encompass remuneration and fringe benefits sponsored by the employer,...
Economics of prostitution
Essay - 6 pages - Economy general
The market that buys and sells prostitution is very similar to other types of human interaction. It has deep roots in history and society, and has survived through the ages; resisting legal and economic uncertainties. It has become apart of Western culture just as much as much as fast-food and...
Seeking evidence of corporate profiteering in Australia
Essay - 4 pages - Economy general
Despite media outcry's, Australia's legal system largely protects its citizens from the effects of corporate profiteering. Whether it is complaints over the rising cost of fuel or even the price paid for a kilogram of Bananas, Australian's are quick to condemn business and large corporations if...
Internationalization of SME's
Essay - 6 pages - Economy general
The 20th century is one of the most revolutionary periods in economic history as national economies around the world dramatically shifted and changed to cater to burgeoning demanding global markets. Barriers to cross-border trade and investment fell as businesses around the world capitalized on...
Proton: Struggling against the grain of economics
Essay - 8 pages - Economy general
Economics might finally be winning in its fight after over 25 years with Proton, a small Malaysian carmaker whose very continued existence is a direct affront to the academic discipline. The end finally appears near for the pet project of former Prime Minister Mahathir Mohamed and source of...
Urban policy: Implementing housing counseling resources
Essay - 10 pages - Economy general
This increased demand for foreclosure counseling has put a strain on housing counseling centers across the country. With little to no demand for pre-purchase counseling, counseling centers have had to internally reorganize their staff and services to meet the growing outside demands. The demand...
What are the causes and consequences of the current US account deficit?
Essay - 5 pages - Economy general
Few economic issues have recently posed as many problems to authorities and economists than the U.S. current account deficit. It has become an issue that is receiving more and more attention and it is now considered as a “hot topic”. Some fear that it represents a time bomb for the...
The HIPC (Heavily Indebted Poor Countries) initiative in Uganda
Essay - 4 pages - Economy general
In August 2005, the G8 decided to cancel the multilateral debt of 18 countries which are part of the Heavily Indebted Poor Countries (HIPC) Initiative, in Uganda. This Initiative was launched by the International Monetary Fund (IMF) and the World Bank (WB) in 1996 in order to reduce the debt...
The car industry: A move to concentration
Essay - 7 pages - Economy general
The motor industry is over 100 years old and has an interesting history and uncertain future. It provides an interesting example of an industry that had to quickly evaluate due to constant evolution of technologies employed. This evolution was so money-demanding that it caused a typical movement...
The Western growth systems: the role of innovations
Essay - 8 pages - Economy general
Joseph Alois Schumpeter (1883 - 1950) is one of the most well known economists of the XXth century, namely thanks to its work on innovations. One of the theories he develops is the one called creative destruction. So, in our study of the Western growth systems and the role of innovations in this...
Internet usage in African countries: Empirical study on the antecedents of internet usage in developing countries
Essay - 12 pages - Economy general
This research first investigates the relationship between the gross national product and the amount of internet usage (per 1000 people) in the 51 sample countries from Africa. It indicates that the outlier countries in this case, i.e. countries that have an extraordinary high amount (in this case...
Is the Common Agricultural Policy indispensable for the future of Europe ?
Essay - 16 pages - Economy general
The CAP has long been a stumbling block among EU members. Last year, Jacques Chirac strongly opposed Tony Blair's proposal about the CAP. Indeed, France is the country which receives more agricultural subsidies while the United Kingdom does not get any concern in the agricultural policies. The...
The United Nations urban growth projection and its impact on urban development and regional disparities in India
Essay - 8 pages - Economy general
The United Nations Population Division (UNPD) has been publishing and revising its World Urbanization Prospects since 1991, the latest being the 2002 revision, and this has become a popular source of data and analysis of the past, current and future proportion urban in each country, region or...
Macroeconomics: Overview of the South African economy
Essay - 4 pages - Economy general
The most powerful and the most developed economy of the continent, South Africa produces one fifth of its entire production. The gross domestic product (GDP) is four times that its southern African neighbours and covering around 25% of the entire continent's GDP. Following the expansion of the...
Trade unions in Northern Europe
Essay - 11 pages - Economy general
Among the five countries where the unionization density is currently the highest in the world, four are Nordic European ones. Sweden (78%), Finland (74.1%) and Denmark (70.4%) constitute the group of the most unionized countries, far beyond Belgium (55.4%) and Norway (53.3%). Austria is ranked...
Direct investment in Turkey (2006)
Essay - 11 pages - Economy general
We are currently investigating an investment proposal concerning the chocolate confectionery sector, in Turkey. Specifically the analysis concerns the chocolate tablets production. Below follows an explanation of the elements of the investment decision, the general aspects of the Turkish economy...
Asymmetry of information
Essay - 6 pages - Economy general
In economics, information asymmetry occurs when one party to a transaction has more or better information than the other party. (It has also been called asymmetrical information). Typically it is the seller that knows more about the product than the buyer, however, it is possible for the reverse...
Macroeconomic events before and after Argentina's 2001-2002 currency crisis
Essay - 5 pages - Economy general
In practice economical balance is unachievable. Stabilization conditions that many scholars and economists claim are but fleeting status of the economy. Some of the major crises around the world including the US stock market collapse, Asian financial crisis, Latin financial crisis and recently...
Asian pacific business since 1997: Samsung and South Korea
Essay - 11 pages - Economy general
Everybody knows Samsung, Toyota, Sony, LG or even Hyundai which are very famous brand all over the world. Those very successful companies have similarity. Indeed, all of them come from the Pacific Rim. The Pacific Rim is defined by "far Eastern countries and markets bordering the Pacific Ocean,...
E-Commerce in France compared to other developed countries
Essay - 11 pages - Economy general
Today the Internet might be viewed as having a huge market potential capable of covering the population of the whole world. This is why electronic commerce or E-Commerce is so attractive for many traditional businesses. E-Commerce consists of the buying and selling of products or services over...
The Meiji era: The opening of Japan to the West
Essay - 8 pages - Economy general
In the Westerners' mind Japan remains a country which sometimes presents an extreme modernism (with the painful consequences which one knows nowadays). On the other hand, Japan tries to preserve the old traditions which make imaginations wander and return us to the novels of Pierre Loti. This...
What kinds of strategies are used by local authorities to attract foreign direct investment in Morocco?
Essay - 5 pages - Economy general
Morocco is officially named the Kingdom of Morocco. This is a country located in Northwest Africa. It borders Algeria to the east, the Mediterranean Sea and the Strait of Gibraltar to the North, the Atlantic Ocean to its West and Mauritania to its south. It has a population of 33,757,175 and a...
