...Joan Didion: What is Home? In Joan Didion’s essay “On Going Home” she writes about leading a double life. She feels like one person when she’s with her husband and daughter in Los Angeles, and a completely different person when back “home” surrounded by her childhood family in the Central Valley of California. During this particular trip, she begins to reflect on her life in Los Angeles. Didion contemplates the fact that she often feels uneasy around her husband, just like he feels uneasy being around her family. At a crossroad, she must decide not only who she is, and the life she wants, but also the kind of life she wants for her daughter. Her life in Los Angeles has cleansed her from her youth—one that was dusty and full of useless trinkets. She ponders the time her husband wrote the word “D-U-S-T” on those useless trinkets and she remembers her feelings of sadness and indignation. She says, “We live in dusty houses…filled with mementos quite without value to him” (139-40). The dust-covered trinkets signify what is important to her, or what needs to be addressed in her marriage. Yet, these objects just lay there waiting for someone to see them—for someone to dust them off and care for them—not unlike how Didion wishes her husband would see her and nurture her in their marriage. Didion wonders which of her two homes is normal or if they are both flawed. When she and her husband are with her family, he becomes apprehensive about her behavior, “…because once there I fall...
Words: 1042 - Pages: 5
...The first thing when beginning an audit is the Materiality. Materiality is determined by defining if the misstatements could possibly be inluenced by any economic factors or decisions that any party made on a basis of the financial statements provided. Also, when searching for this information, finding out the size or nature of the misstatement. The auditor must also take into consideration the matter in which the professional judgement should be guided by the perception of the auditor and the financial information provided. Tolerable Misstatement is the amount of difference that can occcur on a financial statement to be either correct/true that does not have an impact on a fair presentation of a financial statement. An auditor bases tolerable misstatement for planning materiality for an audit. The first thing when beginning an audit is the Materiality. Materiality is determined by defining if the misstatements could possibly be inluenced by any economic factors or decisions that any party made on a basis of the financial statements provided. Also, when searching for this information, finding out the size or nature of the misstatement. The auditor must also take into consideration the matter in which the professional judgement should be guided by the perception of the auditor and the financial information provided. Tolerable Misstatement is the amount of difference that can occcur on a financial statement to be either correct/true that does not have an impact on a...
Words: 509 - Pages: 3
...understanding and enhanced my analytical skills required in the day-to-day work environment . I have the opportunity to learn collaboratively with other agribusiness professionals, students and staff. Skills in team management and communication are directly enhanced through the program, the collaborative learning approach enables me to learn from real- world scenarios, examine different aspects of problems, minimize the complexity, share findings and negotiate solutions. I have full access to subject materials needed for the courses, and a great opportunity to learn from, and with other students and staff. Through Agribusiness Management Economics I have gained an understanding of, and the ability to apply, key economic concepts and principles (demand, supply, marginal analysis etc). I have also experience, through case studies and application of economic to the US problems. Through the subject matter I have become familiar with market equilibrium demand, supply, the theory of the firm, market structure and the impact of government regulation and trade. Financial Management has thought me how to understand the key concept of financial management relevant in analyzing situations, evaluating alternative actions, implementing actions and exercising control, interpreting financial...
Words: 489 - Pages: 2
...The principles of supply and demand are what most think of when the topic of economics emerges. Although the study of economics covers a broad range of meaning, one cannot help but to think that economics cover the relationships between people and spending habits. This paper will define economics, the law of supply, and the law of demand. In addition to defining terms, this paper will take the article, Demographic Analysis for Consumer Spend in Communications, and list the factors contributed to the change of supply and demand with regards to communications. Defining Economics The study of economics consists of a broad range of meaning. A brief definition can be that economics is a social science concerned with the study of economies and the relationships between them (Unknown, 2010). In reality, economics studies the production, distribution, and consumption of goods and services in a social setting. To further understand economics and the principles of supply and demand, the branch of microeconomics must be defined. Microeconomics is the study of how a household spends its money. Microeconomics also studies the way businesses determines how much of a product to produce and what pricing strategy to use. Microeconomics also studies how individual markets and industries are organized, what patterns of competition they follow, and how these patterns affect economic efficiency and welfare (Unknown, 2010). Microeconomics is the branch which business sways the consumers...
Words: 880 - Pages: 4
...strategic and corporate in its thinking. This ‘New Public Sector’ is intended to replace a public sector characterized by bureaucracy, professionalism and departmentalism. In this paper we take a specific look at the National Offender Management Service (NOMS) from an accounting perspective to shed light on the influence and changes involved of defining something as an accounting entity. We will look closer at and critically evaluate the issues involved in the representation of NOMS as an accounting entity. Furthermore, we will analyze the implications of the representation of NOMS as an accounting entity on definitions of organizational accountability. Therefore, we look in a next step which aspects of NOMS’ accountability are highlighted in the Accounts and what aspects are left out? Finally we examine what issues, items and risks are kept “off-balance sheet”? And what might be consequences of this. According to Hendrikson (1970) defining something as an accounting entity is to represent an area of interest, to make real and to circumscribe the objects and activities of which financial reports will speak. Therefore the concept of an economic or accounting entity assumes a more or less common agreement that something concrete, bounded and whole...
Words: 1384 - Pages: 6
...EGT1 – TASK GUIDE INTRODUCTION: As you work on each of the Tasks please make use of the various resources posted and updated within the Business Undergraduate Economics Learning Community Task 1 Recorded Webinar TASK 1: MARGINAL ANALYSIS This Task centers on the competency of marginal analysis with two structured objectives. First is the requirement to describe the relationship between marginal revenue (MR) and marginal cost (MC) at the point of profit maximization. Second is the requirement to explain the concept of profit maximization. ACTIONS OF APPROACH: 1- Prior to turning in the Task, consider attending a Live Webinar on the Task. Students that attend are much more likely to pass the Task. You can always find an updated schedule of Live Webinars in the Community Pages (link at the top of this document). 2- This essay should be relatively short (1-3 pages) and can be written entirely from the concepts discussed within the McConnell e-text. In preparing for this Task you should read Chapters 7-11 of the McConnell e-text, with specific concentration on the information in Chapters 7 & 8. *Chapter 7 "Business and the Costs of Production" *Chapter 8 "Pure Competition in the Short Run" Chapter 9 "Pure Competition in the Long Run" Chapter 10 "Pure Monopoly" Chapter 11 "Monopolistic Competition and Oligopoly" 3- Formulate your responses to this Task in accordance with an “outline” format. More specifically, when writing your paper – list the Task Element and structure your...
Words: 1691 - Pages: 7
...The Economic Impact of Immigration Within Canada There has been an appeal in immigrating to Canada ever since the early 1800’s, but only in the past seventy years have we seen drastic changes in domestic immigration law and policy. Most notably Canada has received recognition for its Immigration Act of 1976 as well as our current Immigration and Refugee Protection Act from 2002. Canadian immigration is still evolving today and currently Canada is known as a country with a broad immigration policy that is reflected in the countries ethnic diversity. Policy goals, selectivity and trade are three prominent aspects of Canadian immigration that I have found compelling journal articles written on. Although every aspect of immigration has its differences, they all similarly share a united end common goal of further benefiting Canada. Economics is a similarity that plays a large role in each aspect and article, from strategically selecting immigrants that will quickly economically assimilate to using immigration to increase trade flow from foreign countries. Although in contrast – the article that I have found to obtain the most compelling argument on Canadian immigration policy is the one that disagrees with using immigration solely for economic means, it implicitly states that immigration policy should not solely be seen in economic benefits but that it should be seen as primarily a cultural, social and humanitarian policy opposed to an economic one. In the first article I examined...
Words: 2055 - Pages: 9
...Will It Get Any Better Soon? : Unemployment Rates Ariel Cooper Business Economics GM545 Summer 2011 alcoop86@gmail.com Chapter 16, Question 5 In the US economy there is always some level of unemployment present. There are people losing jobs, leaving jobs, taking temporary hiatus from employment, on a daily basis. For the purpose of this exercise will be taking an in depth look at what a specific type of unemployment entails. This unemployment type is called Frictional unemployment. Let’s begin by defining what frictional unemployment is; frictional unemployment refers to the “natural” unemployment of our economy. This is described as the transitional period in which people move from one employment position to another, sometimes experiencing up to a few weeks in between positions. (Stone, Core Economics, p. 443) During this period of time these people are frictionally unemployed, they may already have a new position waiting on them to start, or they may be holding out in search of a better employment opportunity. Frictional unemployment can also refer to when a business decides to promote a hiring freeze and does not bring in new talent due to the assumption that there are not enough qualified candidates, when in fact there are. We will now discuss why frictional unemployment is important to have in any economy. Frictional unemployment is important to have in the economy because there is a constant reallocation of resources from one productivity level to another...
Words: 1107 - Pages: 5
...Strategy and Planning MGT/521 Strategy and Planning Business, an ever changing game for the existence of service providers and product innovators. Competition is steep in most cases, and as quickly a distinct product or service is introduced, the market floods with the same, better version. The environmental climate in business fluctuates, political and regulatory landscape changes whether conducting business in the US or overseas. From small neighborhood business to global business, there is no avoidance from these impacts, and the overall objective is simple; to grow, to profit, and be competitive. A business must have a roadmap, a set of guidelines to provide direction. This is “the plan”, a strategy of an organization. Having a solid strategy can be the game changer for the success of a business. The strategy maps out the objectives and goals which align with the organizations vision. The following discusses the three types of goals, and suggests why these goals are important to the strategy of an organization. The content will discuss types of planning as they are important to the strategy, as well as examine elements and factors involved in creating an effective strategy. Three Types of Goals Goals may be defined as a set of steps to reach on common goal. However there are types of goals which are used to achieve specific objectives, and designed for each level of hierarchy. There are short term goals, goals which are intermediate, and the long term goals...
Words: 1236 - Pages: 5
...This relationship also solidifies the developing countries dependency on the developed country allowing the donor constant control over the peripheral developing countries economic growth (‘tied’ aid). Therefore there are no moral obligations involved and this aid may result in further delaying the modernization of the developing countries. Society being comprised of inter-related parts that work to benefit each other, Modernization Theory, thus when one part malfunctions or fails to uphold its duty, society may become chaotic. This can be seen in the Cuba peak oil crisis, which was as a result of the fall of the Soviet Union in 1991. Cuba’s dependency on the Soviets aid forced the country to relearn or to create new structures to combat the large-scale decrease in economic growth and other negative effects on transportation, agriculture, medicine and other...
Words: 845 - Pages: 4
...Abstract Macroeconomics is a branch of economics that focuses on the behavior and decision-making of an economy as a whole. We can also understand macroeconomics as the study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. Macroeconomists also study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. And finally, macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, government spending and international trade. Definition: 1. Gross domestic product = gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well. GDP includes all private and public consumption, government outlays, investments and exports minus imports that occur within a defined territory. Put simply, GDP is a broad measurement of a nation’s overall economic activity. The formula to calculate the gross domestic product is as follows: GDP = C + G + I + NX where, C is equal to all private consumption, or consumer spending, in a nation's economy, G is the sum of government spending, I is the sum of...
Words: 422 - Pages: 2
...how this affects to the rest of the world. Finally, when the each monetary policy is clear, it will be given my own opinion. First of all, it should start defining what monetary policy is: Monetary policy is a central bank’s use of either the money supply and/or interest rates to influence economic activity (Froyen, Richard (2009). Macroeconomics Theories and Policies. Pearson Prentice Hall). Monetary policy is run by the Federal Reserve in the United States and by the European Central Bank (ECB) in Europe. The mean objective of the first institution is to insure price stability and full employment; meanwhile, for the second one is price stability. They are the responsible institutions for issuing Money. The ECB focus on price stability because, accordingly with this institution, it cannot control anything more. However, I do not believe that. Everything is linked and, by economics decisions (interest, taxes…), is possible to change different variables which influence, for example, the employment. Even so, it is true that the ECB have in consideration the employment and a sustainable and non-inflationary growth. The European Central Bank by fixing interest rates in the short-term, monetary policy influences the economy and, ultimately, the price level. ECB has adopted the so-called "two-pillar approach": the economic analysis and monetary analysis. This is to prevent loss of information relevant to assessing risks to price stability, in order to obtain an overall assessment...
Words: 341 - Pages: 2
...Classical Economic Definitions & Perspectives Professor Marlo Chavarria 201420 Spring 2014 ECON 350-D02 LUO Cameron L. Atkinson Student-Liberty University Online Abstract This essay examines the concept of a free market and the various interpretations of classical economists. The author begins by defining a free market from a classical perspective. He then proceeds to examine the interpretation of David Ricardo, which leaned somewhat to laissez-faire economics, the interpretation of John Stuart Mill, which was complex and indecisive, and the interpretation of Karl Marx, which argued against the concept of a free market. The essay concludes by discussing the complexity of the debate and the unanswered questions it still presents to modern economists. Keywords: free market, free market system, David Ricardo, John Stuart Mill, Karl Marx Introduction The majority of classical economists based their work on the concept of a free market system (Sowell, 2006). However, they often had varying interpretations of a free market. These different perspectives have led to confusion about the true definition of a free market. This essay will first define a free market from a classical perspective and then examine David Ricardo’s, John Stuart Mill’s, and Karl Marx’s interpretations of a free market. Their views compose the three major schools of classical economic thought regarding a free market, and they have shaped the way society views free markets today. Defining a Free...
Words: 1883 - Pages: 8
...Antitrust law, policy, and practice are the product of a long and fruitful interdisciplinary collaboration between law and economics. Our chapter addresses an important aspect of that collaboration: the use courts can and should make of two bodies of knowledge in empirical industrial organization economics, as that academic discipline has evolved over the last few decades. Our examples focus on the US experience, which we know best. But we are confident that the broad considerations we discuss apply to any competition policy regime. The first body of economic knowledge we discuss involves methods of distinguishing among alternative explanations for market outcomes or firm conduct. This is termed the problem of ‘‘identification’’ in empirical economics.We show how courts can apply what economists have learned about identification to the problems of defining markets and determining whether market power has been exercised. We show that the same analytic issues arise regardless of whether the evidence on these concepts is quantitative or qualitative. The second relevant body of economic knowledge derives from the empirical economics research literature, taken as a whole. That literature demonstrates that di¤erences among industries are important, making the industry the appropriate unit of analysis for addressing economic issues related to competition policy. A similar conclusion was reached long ago in antitrust law, when market definition became central to reasonableness...
Words: 326 - Pages: 2
...Literature Review on SMEs in Ghana: Globally, the contribution of Small and Medium Enterprises (SMEs) to the growth of national economies is significant. In the developed economies such as Germany and the United Kingdom small businesses are recognized as the main engines for growth and development. Indeed, studies conducted in recent years in developed markets, including the Freedman studies done in the United Kingdom, confirm that small businesses account for the highest number of registered companies and make significant contributions to economic growth and prosperity. In Ghana, readily available data on SMEs is scarce but statistics from the Registrar General’s Department suggests that 92 per cent of companies registered are micro, small and medium enterprises. SMEs in Ghana have also been noted to provide about 85 per cent of manufacturing employment, contribute about 70 per cent to Ghana’s GDP, and therefore have catalytic impacts on economic growth, income and employment. It is estimated that SMEs employ 22% of the adult population in developing countries (Daniels, 1994; Daniels & Ngwira, 1992; Daniels & fisseha. 1992; Fisseha. 1992; Fisseha & Mcpherson, 1991; Gallagher & Robson, 1995 and Kayanula & Quartey, 2000). The sector employs about 15.5% of the labour force in Ghana (Parker et al, 1994), has experienced higher employment growth than micro and large – scale enterprises. Definition of SMEs There is no single, uniformly acceptable definition of a small firm (storey,...
Words: 1637 - Pages: 7
