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Macro & Microeconomics Essay

Poor countries are less developed because they have low levels of human capital. Discuss to what extent one may agree and/or disagree with the above statement
Human capital is an accumulation of knowledge, creativity, social attributes, personality attributes, and cognitive abilities through which economic value can be produced. It is a collective view of human activities. Mostly, literacy, real GDP per capita, and life expectancy rates are used to demonstrate the human capital (Van Leeuwen, 2007).According to many economists, human capital and a country’s development are significantly associated with each other and human capital does have an
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Decentralization in Hungary
The new decentralized system is a unitary government system which has two sub national tiers. These include municipal government at the settlement level and county government at the regional level. Each of them acts independently and thus they are essentially they are self-governing units with each having their own responsibilities. Local governments exercise their rights and power through the elected council. Chief administrator looks after their major administrative functions. The number of
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Explain Deatons findings. It is harder for rich countries to increase life satisfaction by raising GDP per capita
As to which of life’s circumstances highly contribute to life satisfaction and which of these factors are permanent and those that have transitory effect. Easterlin (2003, p. 67) in one of his surveys which included comparing results from a given country over a period of time concluded that the average national happiness is not directly proportion to increase in per capita income. Other studies show that there is a mere effect of income on life satisfaction in comparison to other life factors
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Heterogeneity in the returns to university education (by field of study or BA/postgraduate)
The perspective of the society, and from the belief that university education is very important, this paper tries to find out how true this faith is. How much can one have in return for university education? The returns on university education have varied form experience. Great universities of the world have produced great scholars and world leaders. Thanks to the input into them. Renowned leaders like Theodore Roosevelt, a Nobel laureate, who was in Harvard in 1880 and barrack Obama, who also
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Abu Dhabi
Lesser taxes and attractive infrastructure encourage investments in other sectors that are not oil-related.Abu Dhabi has strict laws that guide the importation of specific goods. Importers should familiarize themselves with these laws. In 2013, the value of imports into Abu Dhabi increased by 42.5 percent (Pantin, 2009, p. This increase was supported by increased shipments of building materials, industrial equipment and machinery (Oxford Business Group, 2010, p. Abu Dhabi’s non-oil exports
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Universities typically employ new academic staff on contracts which specify that after a number of years, subject to performance, a subset of the junior faculty members is given a promotion. That promotion usually consists of a raise and tenure. Criticall
The game theory, the productivity of the workers is greater if the incentive scheme gives all employees equal chance of sharing revenue of the organization (Nalbantian & Schotter, 1997, p. The players’ effort is dependent on the expected prizes, the effort involved in scooping the reward and the probability of winning the game. The effort of the participants is at maximum where the probability of winning or losing the game is balanced. Therefore, in a university set-up where the employees are
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U.S. Fiscal and Monetary Policy
Instead of either approving a new budget, endorse the current resolution to finance the government at the present levels or increase the debt ceiling, they put America’s first -ever debt deficit in risk.President Barack Obama’s administration thought by effecting cuts in social programs and reducing military spending, the Republicans would concur to revenue boosts. Regrettably, it worked the other way around. The military hawks within the Republican Party were less as compared to the Tea
Pages: 10 (2500 words), Essay
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Recent Oil Price Spike
Normally, during this time prices are expected to decline. Contrary to this fact, the prices rose even with the relatively lower demand.Analysing what has been happening in the global oil market with respect to Gregory Mankiw principles of microeconomics reveal some interesting facts. To start with, Gregory Mankiw introduces ten principles that he uses to analyse economic conditions.This is the first principle, according to this author; there is no free products and services. For any person
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Commanding Heights
This documentary is actually recommended for persons interested with matters economy and the place of the world economy at present. The audiences are able to relate the present day market system and the past. Additionally, it is warranted to argue that the documentary fits its context as one quickly develops an interest in the foreign policies of the countries in the globe, and the strategies applied in terms of military prowess by various governance systems.The title of the documentary fits
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Economics of Regulation and Antitrust
With the aim of enriching well connected firms operating in a particular country by shielding them from competition or to benefit politicians who run the government o the day.Economic regulation in any given economy might take various forms depending on the intentions of the government for putting the regulatory measures in place. The government may decide to use public statutes and standards to accomplish its goals for regulating the economy (Kessler, 43). The regulation can also be enforced
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Radicals and organ donations
The physicians also consider the medical aspect used, the waiting duration and the level of the sicknesses.The organ donations rules tend to have developed over the past couple of years with an aim to ensure that physician are keen while conducting the transplants. Organ donation ensures that the basic needs of patients in the society are fulfilled, a factor that contributes to RAD supporting Organ Donation. However according to recent research, we note that RAD treats its structural aspects
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Experimental Economics
At first, students decide to bid their highest price possible in order to win the auction. Most of them even bid the total available amount, remaining with nothing. However, bidding a first high price increases the chances of winning, as the experiment will show (Ginib 65).Instructions to the students and the instructor will be important to prevent confusion during the experiment. Students are to sit strategically in the school’s computer lab. The instructor should advise the students to rely
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International Finance
Also, the poorer nations are easy and soft targets for the IMF because they do not have economic power and diplomatic skills to tactfully handle the rude and complex attitude of the IMF representatives. As a result, they find it hard to resist the IMF appropriately and they are forced to accept the unjustified conditions.The IMF spent billions of dollars for trying to destabilize the exchange rates of Russia and Brazil at unsustainable level (Stiglitz 198). This step clearly violates the
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Using GDP as an economic welfare measurement
Thus, it is possible to measure the ability of the country in supporting social and economic welfare of the country through the wealth generated within the country (McEachern, 2012).However, GDP economic measurement faces a number of challenges in helping a country to measure the welfare capacity accurately. One of the difficulties of GDP in measuring the economic condition of a country accurately is failure to measure inflation correctly (Hall & Lieberman, 2012). Inflation is a significant
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The implication of Foreign Direct Investments (FDIs) in China's Economy
On the other hand, micro economic approach focuses on the impacts of FDI on the grass root economy in various sectors like skills development and employment generation specifically establishment of small businesses being highly emphasized on (Huang 40).FDI has helped China a lot in creating good and reliable networks with other major countries and corporates. It has played a major role in creation of employment and enablement of utilization of local resources (Chen 96). Relatively well paying
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Econ question
Started to increase swiftly in the after the war because of the quick recovery and increased focus on reconstruction than on distributional concerns. This tendency in the direction of increased disparity stopped by the political changes that took place on the late sixties, but disparity started increasing again in the early nineties.In the division of his analysis, Piketty tries to develop a clear distinction between the contemporary definition of labour and inheritance, and the dissimilarity
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(2) Is the commodification of nature part of the problem or part of the solution, as far as sustainable development is concerned
In this approach, management and conservation of nature was described as the administration of the human use over the biosphere, which is the thin covering on the planet that plays the role of life sustenance.In this perspective, the sustenance approaches were thought to bring about sustainable advantages to the present and future generations. In addition, it was to maintain its potential of achieving the needs and ambitions of future generations. According to the approach proposed by in the
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Market structure
All firms are price taker, having a relatively small market share, operating on a profit maximization objective. The firms sell identical, homogeneous goods, having perfect knowledge about product quality, price & cost.In a perfectly competitive market, all firms are price taker. Seller must take the existing market price. If a single firm is charging a price above the market price, this will result in a loss of potential buyer of the firm. Similarly, setting price below the market price
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Explain the underlying rationale for policies to control merger and to prevent collusion. Why do governments often decide to regulate mergers on a case-by-case basis, but to prohibit collusion Illustrate your answer with cases with which you are famili
Specific examples of policy frameworks that have been developed in different jurisdictions in a bid to understand the rationale that is behind the formation of these.In most jurisdictions, the policy frameworks that govern the mergers and prevent collusions are referred to as antitrust laws or competition laws. The policy frameworks main duty is to observe and monitor the market that is under the jurisdiction. This is done to ensure fairness in trade by the players in the markets. They also
Pages: 11 (2750 words), Essay
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Free trade and globalization are controversial current topics
A country also tends to specialize in commodities that it can produce more than others within the country – comparative advantage (Sexton 609). Therefore, countries can take advantage of the efficiencies, through specialization, generated from increased output and economies of scale. Additionally, international trade tends to increase the market size of the firm leading to low average costs as well as increased productivity; that in turn leads to increased production. When the cost of
Pages: 5 (1250 words), Essay
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