...This has been a very interesting semester. We have discussed many phases of economics from both a micro and a macro perspective. My hope for each of you is that you are able to capture concepts from this experience that will assist you with developing a solid personal economic plan and also that you now have an appreciation for the economic drivers as they impact both your personal and professional lives. With this having been said; your final project will address the following areas: The personal financial budget ( Where is the money) List some very clear financial goals for yourself (… they should be S.M.A.R.T.) Create a personal budget (spreadsheet) Pay your self first Set an amount for your emergency savings Set an amount for your savings Set an amount to invest monthly Now set up your lifestyle Determine if you have access to a company 401K account. If so how will you leverage this opportunity? List all of your debt, pending debt… create a plan to pay this off Discuss your plan with all family members, partners who share in your finances Define for yourself the DOW, bonds, mutual funds, certificates of deposit… With regard to a mutual fund; what is a prospectus? The time management budget ( Rule of 168) Create a time management budget. Are you making the best use of your time? How might you make adjustments which will have a positive impact on your goals? Upon graduation how might you leverage the time that you gain back The 4 Quadrant...
Words: 579 - Pages: 3
...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...
Words: 2654 - Pages: 11
...Business Economics Project Paper 1 January 2011 1) Everyone’s Gasoline Problem Gasoline prices in Chicago have risen from $2.64 to $2.92 between September 2009 and September 2010(2) with a series of price changes in between. Prices change for a number of economic reasons. One such reason is supply and demand. Gas prices rise after 9/11 and after the start of the war with Iraq, it seems to rise when there is any major crises. Supply and demand plays a major part in the fluctuation of gasoline prices. The price of crude oil can and does influence the supply and price of gasoline. When the price of oil rises, the cost of supplying gasoline increases for petrol suppliers, reducing the quantity of crude oil demanded in gasoline production and potentially reducing the supply of gasoline. So its expected that a rise in the price of crude oil to lead to a rise in the price of gasoline. Even when crude oil prices are stable, gasoline prices can fluctuate because of reasons such as the season and local retail station competition. Additionally, gasoline prices can change rapidly due to crude oil supply disruptions stemming from world events, or domestic problems such as refinery or pipeline outages.(3) Crude oil prices are determined by worldwide supply and demand, with significant influence by the Organization of Petroleum Exporting Countries (OPEC). OPEC has tried to keep world oil prices at its target level by setting an upper production limit on its members.(3) also increase...
Words: 1124 - Pages: 5
...Date: 7-30-2012 To: Victor From: Subject: Project Part 1 Voter Victor. The United States is said to have a mixed economy. This is because of privately owned businesses and government both plays important roles. The American free enterprise system is based solely on private ownership. The American economy is indeed a consumer based and a capital based economy. A mixed economy is an economic system in which both the state and the private sector direct the economy, reflecting the characteristics of both market and planned economies. Most mixed economies can be described as market economies with strong regulatory oversight. Because the United States economy is driven by perhaps the best example of a consumer-based society and a capital-driven citizenry, it is important to understand and interpret what role the US government plays in the operations of our economy. Historically, the degree to which the government has played a role in the economic structure of the country has defined the large differences in the outlook and well-being of the citizens of the United States. Whether this meant the institution of greater social programs and economic safety-nets under FDR's "New Deal," or the lessening of governmental influence in the capitalist days of Reaganomics, the role of the US government in the acquisition and redistribution of money in society is central to understanding the relationship between resources and the citizenry. (Parry, 2012) In today's society the United States...
Words: 1654 - Pages: 7
...Project Part 1 Matthew Gist ITT Microeconomics ES2550 Roger Lignugaris April 19, 2015 Project Part 1 A. Does the United States have a comparative advantage in wingdings? Explain. It is cheaper to import wingdings than it is to produce them. If the US had a comparative advantage in wingdings, we would export them. Comparative advantage is that the countries with a comparative advantage in a certain good will specialize in and export that good. B. Discuss the effect of the tariff on the number of imports. The tariff decreases the import from 20 at the world price to 6 after the tariff. The price increases from $6 to $8 for someone to buy a wingding in the US, which means the quantity demanded domestically is now 18 and the quantity supplied domestically is 12, which is only a shortage of 6 units that needs to be supplied. C. How did the imposition of the tariff change consumer surplus? The tariff decreased consumer surplus by the area with height 8-6 and base y = 26 and base z= 18. The area of this can be calculated by splitting the area into a rectangle and a triangle. The rectangle has an area of (8-6)x18=36 and the triangle has an area of (1/2)x(26-18)x2=8. Adding the two the consumer surplus went down by 44. D. How did the imposition of the tariff change producer surplus? Producer surplus increased after the tariff, by the area with height 8-6 and base y=6 and base z=12. The area of a trapezoid is just [(b1+b2)/2]xh, which is [(6+12)/2]x(8-6)=[18/2]x2=18...
Words: 396 - Pages: 2
...The Extension of Healthcare Centers: Act of 2016 A Performance Task submitted To the faculty of Saint Theresa’s College In partial fulfillment of the requirements In Araling Panlipunan Grade 10 Submitted by: #6 CATIGBE, Chiara #17 MASABA, Marie Christine #21 MONTEHERMOSO, Risha #28 SEVILLA, Johanesse M. #32 VERCIDE, Jeryl Kyra January 8, 2016 PART I OVERVIEW OF THE LAW Based on data that The state has gathered from the International Diabetes Federation, last 2010 there were about 309,000 deaths related to non-communicable chronic diseases, including diabetes. There are many complications for diabetes and one of those are amputation, stroke, blindness and end-stage kidney failure wherein because of these diabetes-related complications for every 10 seconds, one person dies. Based from what The state has read from articles, this year alone, diabetes will cause over four million deaths worldwide. The number of diabetic patients by the year 2030, is estimated to rise to about 438 million, an inflation of over 50 percent in 20 years. Based from a news article, heart attack, stroke and cancer remain the top causes of death among Filipinos, a health official said. Furthermore, based on the data gathered by DOH last 2009 in the Philippine Cancer Society, and last 2010 in the World Health Organization, nine people are diagnosed with cancer every hour, 61 people die of diabetes every day; five people die of respiratory disease (including tuberculosis) every...
Words: 2251 - Pages: 10
...Modelul lui Michael Porter de diagnosticare strategică a domeniului de activitate în care operează firma Abordarea strategică a lui Michael Porter aprofundează dinamica concurenţială a me- diului şi concepe manevre strategice specifice particularităţilor fiecărei firme. În concepţia sa, alegerea unei strategii depinde, în primul rând, de natura şi intensitatea concurenţei care se manifes- tă în sectorul de activitate considerat. În acelaşi timp, Porter defineşte strategiile generice care con- stituie puncte de pornire în construcţia particulară, cu caracter original, a strategiei fiecărei firme. Modelul se bazează pe analiza a 5 factori care îşi exercită influenţa în mediul concurenţial specific fiecărui sector de activitate. Puterea fiecărui factor şi combinarea lor caracterizează dome- niul de activitate sub raportul intensităţii concurenţei şi, în ultimă instanţă, determină rentabilitatea sectorului – măsurată prin randamentul pe termen lung al capitalului investit. ameninţarea noilor sosiţi în sector puterea de negociere puterea de a furnizorilor negociere a clienţilor ameninţarea produselor de substituţie 1. Analiza rivalităţii între firmele existente în cadrul sectorului de activitate. Concurenţa este mai intensă atunci când: - în domeniu operează concurenţi numeroşi, care au forţe concurenţiale sensibil...
Words: 2276 - Pages: 10
...INTRODUCTION I choose situation A in which I am to advice Jenny my niece about the choices of her future. She wants to be a doctor and I will conduct the economic analysis of the choice she made. To make the decision, I read “Fewer Physicians Move, a Sign of Career Caution” Hubbard( 2013) which is about a survey published by New York Times about 253,000 medical offices. The SK& A conducts a research on around 664,000 physicians on the move rate of doctors and it publishes the reports to be used by pharmaceutical and medical equipment organizations. According to the report, in 2008, the move rate was 18.2%, 15% in 2009, and 12.4% in 2010. This shows a steady decline in the subsequent years. The decline in moving rate and low retirement rate is ascertained to be due to financial stress, the unfavorable medical environment and the rigid licensure laws among others. OVERVIEW The potential competitors to physician’s career in the healthcare industry are dentists, nurse practitioners, and pharmacists among others. However there are no substitutes for physicians services. The potential competitors to the doctors are the insurers because they determine which doctors the patients choose from. Physicians operate in a monopolistic market because they are the only sellers of medical services. Nurse practitioners cannot even offer the same services the doctors do offer. There are no substitutes to the services offered by physicians. Physicians have strong bargaining position. The...
Words: 1732 - Pages: 7
...Anthony Ceniccola Business Economics (GM545) March, 2012 Cynic710@gmail.com Exercise 1 Problem 1: Everyone’s Gasoline Problem Fluctuation at the gas pump is universally understood and expected as of late, but the true meaning behind such fluctuation is still confusing. Through research I have concluded a number of factors play a role in determining the gas price and its fluctuation. Of those factors supply and demand plays a huge role. Naturally, demand for fuel will rise as the population continues to grow both nationally and internationally, the equilibrium of fuel as a product shifts as demand outweighs supplies, leading to a price increase. Also understood is the supply aspect of fuel and that factors it faces, such as failure in the distribution networks (Forbes) or lack of supplies. A good example would be hurricane Katrina, and the failure to accept and distribute supplies. When Katrina hit I was living in South Florida attending college, and I recall gasoline station owners turning customers away simply because there was no product to sell. The domino effect from this was very crippling to the core of how our country runs, as supplies from other markets could not be delivered due to empty-tanked trucks, people were not able to get to work or school and public transportation came to a halt. The equilibrium shift from the gas crisis was unique because of its effect on other markets and the monopoly it holds over the population...
Words: 906 - Pages: 4
...II. Data Description The price of the varying houses ranged from $71,000 to $131,000 with a mean of $100,146.32. The standard error of the price of the homes was $13,298.79. These measurements were measured while observing 150 different homes throughout the course of the study. Several variables were thought to affect the price of a home; these included the location, size of the house, size of the lot, size of the garage, age of the house, number of bedrooms and bathrooms, the number of floors in the house, and exterior siding of the house. The size of a house directly corresponds to the price of a home. In the sample population the houses ranged from 945 to 3202 square feet with a mean of 1581.82 square feet and a standard error of 29.33599 measured in feet squared. Also, the lot size of each house was taken into account for the model. The population’s lot size had a mean and standard error of 303.8133 square feet and 145.9674 square feet respectively. This was a direct result of the range of data—0 to 701 square feet. Another important selling point in a house is the number of rooms specifically bedrooms and bathrooms. In the sample population a mean number of bedrooms were found to be 3.06 with a standard error of .041483 on a range of 2 to 5 bedrooms. In terms of bathrooms, the average amount of bathrooms for each house in the population was found to be 2.17. The lowest number of bathrooms found any of the houses was 1, and the highest 3.5. Age of each...
Words: 2335 - Pages: 10
...Proyecto Final Economía Internacional II Profesor Carlos Ernesto Urrutia Nelly Silva, 000xxxxxx Diego González, 000131755 I. Introducción A partir de la expropiación petrolera que se llevó a cabo en México en 1938, el petróleo se convirtió en un pilar de la economía mexicana y en uno de los principales conductores del crecimiento económico. La decisión tomada por el presidente Lázaro Cárdenas surgió de la necesidad de restaurar la confianza de los inversionistas, pues el gobierno estaba tomando control de uno de los sectores más importantes de la economía: el energético. La historia de la influencia del petróleo crudo al crecimiento económico de México a partir de la expropiación petrolera se puede dividir en dos etapas: antes y después del final del periodo de crecimiento conocido como “desarrollo estabilizador”, cuya principal característica fue su baja inflación. La principal diferencia entre estas dos etapas radica en el tamaño de la contribución del crudo mexicano a las variables macroeconómicas; durante la primera, la proporción de ingresos federales que provenían de impuestos petroleros siempre fue menor a 10%, adicionalmente, del total de ventas de petróleo crudo, la gran mayoría eran ventas hacia el interior del país (resultado de la política de sustitución de importaciones). Por el contrario, la segunda etapa se vio caracterizada por una gran proporción de ingresos federales provenientes de ingresos petroleros (siempre mayor a 25% a partir de 1983) y por...
Words: 1121 - Pages: 5
...educational standards, And increase the quality and quantity of its universities. >India needs to boost agricultural productivity, improve its infrastructure And environmental quality. >Delivery of all these would ensure strong, persistent, medium to long-term Growth, allowing India to reach its amazing potential. In this project, we outline ten crucial steps that we believe India must take in order to achieve its full potential. In our latest brics analysis, India scores below the Other three BRIC nations, and is currently ranked 110 out of a set of 181 Countries. If India were able to undertake the necessary reforms, it could raise its growth potential by as much as 2.8% per annum, placing it in a very strong position to deliver the impressive growth. We highlight the ten key areas where reform is needed. In a way these are the covered ones, we consider them to be the most crucial: 1. Improve governance. Without better governance, delivery systems and effective implementation, India will find it difficult to educate its citizens, build its infrastructure, increase agricultural productivity and ensure that the fruits of economic growth are well established. 2. Raise educational achievement. Among more micro factors, raising India’s educational achievement is a major requirement to help achieve the nation’s potential. According to our basic...
Words: 4202 - Pages: 17
...suite of applications and Web services, and PC hardware products. Its Server and Tools division provides Windows Server operating systems, Windows Azure; Microsoft SQL Server, SQL Azure, Windows Intune, Windows Embedded, Visual Studio, Silverlight, system center products, Microsoft consulting services, and Premier product support services. This division also offers cloud-based services; and training and certification to developers and information technology professionals, as well as builds standalone and software development lifecycle tools for software architects, developers, testers, and project managers. The company’s Online Services division provides online information and content, including Bing, MSN, adCenter, and Atlas online tools for advertisers. Its Microsoft Business division offers Microsoft office, Microsoft Exchange, Microsoft SharePoint, Microsoft Lync, Microsoft Office project and office Visio, and Microsoft Dynamics ERP and CRM, as well as Microsoft Office Web Apps and Microsoft Office 365, which are online service offerings. The company’s Entertainment and Devices Division segment provides Xbox 360 entertainment platform, which includes the Xbox 360 gaming and entertainment console, Kinect for Xbox 360, Xbox 360 video games, and Xbox 360 accessories; Xbox LIVE; Skype; and Windows Phone. Microsoft Corporation markets and distributes its products and services primarily through original equipment manufacturers, distributors, and resellers, as well as through online...
Words: 843 - Pages: 4
...1. Everyone’s Gasoline Problem. United States consumers have experienced some dramatic increases and wide fluctuations in gasoline prices over the past several years (Federal Trade Commission 2005 Report). This Fluctuating gasoline price is as a result of several factors. It is reported that the price of crude oil which is gasoline’s primary ingredient has a massive influence on fluctuating gasoline prices. It is believed that about 50% of the cost of gasoline is influenced by the cost of crude oil. Crude oil is a commodity traded in the open market. If crude oil price rises, then there will be an increase in the price of gasoline and vice versa. Gasoline prices are subject to the ordinary forces of supply and demand. If there is a continuous reduction in demand, gasoline prices will significantly drop and if there is a continuous increase in demand for gasoline then prices will obviously rise. Therefore, gasoline prices rise if it costs more to produce and supply gasoline or if consumers are willing to purchase gasoline at the current price – that is when demand is greater than supply. On the other hand, prices for gasoline will fall if consumers are willing to buy less gasoline at the current price- that is when supply is greater than demand. (Federal Trade Commission 2005 Report). There are other factors that influence the price of gasoline like political unrests such as recent ones in the Middle East. Refinery breakdown can temporarily spike...
Words: 980 - Pages: 4
...“Fat” Tax On Pop Soda Analysis Economic Analysis of the impact of policy Course: Microeconomic Theories (Eco204) The Group of Eight (Canada, France, Germany, Italy, Japan, Russia, the UK and the US) generated almost $291 billion in soft drinks sales in 2010, according to Market Line. Pop soda has been such an important good in people’s everyday life and it generates huge revenue for the whole economy. It is reasonable to believe that the government’s new proposal of imposing a 1% “fat” tax on pop soda sold in the market will lead to some remarkable effects on both the supermarkets and consumers. In my opinion, the “fat” tax proposal is not a good choice for the government. By doing calculations and analysis based on current market demand, we can get the current revenue-maximizing average price per ounce of soda sold per week in the supermarket chain, the optimal quantity and the maximum revenue. They are 0.017 dollars, 29469 ounces, and 502.05 dollars respectively. However, after the 1% “fat” tax, the situation changes. First of all, no matter who is paying the tax, whether the consumers or the suppliers, prices will be driven up. If consumers are the ones to pay for it, the tax amount will be added directly to the soda prices, and if it is the other way around the amount will be indirectly reflected on the soda prices. Secondly, since pop soda is reasonably considered to have many substitutes, for instance water, tea, coffee etc., its increasing price will lead to...
Words: 679 - Pages: 3
