...5 EFS students: Use this table to create your essay outline in NOTE form. Submit this completed outline on Monday WK 4 together with your articles (4 or 5), a reference list & notes on your articles that will be used as support for your arguments/points. Remember you MUST highlight the sections on the articles that you are going to use as support in your essay and you MUST write next to these sections, what paragraph in your essay the ideas will be used in. i.e. Definition paragraph, BP1, BP2, BP3. (BP = Body paragraph). Note: Students should aim to have 3-4 in text references per paragraph – see model essay in text book p. 109 Name: Thao__________________________Term _ /2014_ Title: How has Vietnam’s response to the global financial crisis helped its manufacturing sector remain viable and other factors should be considered to protect it? (Should be phrased as a question) THE INFORMATION THAT YOU WRITE BELOW SHOULD BE IN DOT POINT FORM USING ABBREVIATIONS AND SYMBOLS WHERE APPROPRIATE. WRITE FULL SENTENCES FOR YOUR THESIS AND TOPIC SENTENCES ONLY!! |THE TOPIC and THE ISSUE | | |(question): |The issue: Vietnam’s response to the global financial | | | ...
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...NAME: JOHNNY GROUP: ECONOMICS 3 Essay title critically analyse the causes of the global financial crisis in 2008. Consider how such a crisis can be avoided in future. Bibliographical entry: Krugman, P. (2009). The return of depression economics and the crisis of 2008. New York: W. W. Norton & Company, Inc. Summary Krugman shows how the failure of management made the USA and the world experience the serious economics crisis since the 1930s. He also analyses the reasons why that the world economy moved into a deep recession in recent years. In addition, the irrational fiscal policy of the U.S.A. and Greenspan’s bubbles and the problems of banking are also explained by Krugman. Authority Krugman is the winner of the 2008 Noble Prize in economics. He is a high level author, columnist and blogger, and teaches economics and international affairs at Princeton University. Currency This book was published in 2009. It talks about not only the causes of the financial depression in 2008 but also the history of economic depression in the past. Although this book is not so recent, it can be used for my essay. Accuracy This book does not contain any references, but gives the authority of the author. From my reading of this book, it appears to be a reliable source. But, I analyse everything critically including this book. Audience The contents of this book are very academic, which requires economic background for the reader. So, it is very...
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...Inflation and unemployment were not improved by monetary policy Abstract The global financial crisis made a long term negative effect on the economy all over the world as well as New Zealand. GDP and inflation decreased with a high level of unemployment rate. This essay is going to discuss the effect of the actions from reserve bank. According to their response, the IS-LM, AD-AS and Phillips models will be used to analyze the effect of change in OCR on economic activities. Furthermore, some previous literature will be used in this essay which is relative to some problem happened during the recession. Introduction There is a big impact on the economic environment following the 2008 financial crisis. New Zealand faced a negative effect on unemployment rate, income, inflation and output and etc. as an important part of developed country. The main aim of this essay is to investigate what monetary policy has been used in response to the recession and whether it is useful to make a significant recovery. The financial crisis can be seen as a very serious problem in New Zealand. The stock market got hit seriously because the investment, income, confidence, employment rate etc. all fall. During the recession, the unemployment rate rose from a low of 3.5% in December of 2008 to a high level of 7.3% in June of 2012. (TRADING ECONOMICS, 2013) The New Zealand GDP had a negative growth during 2008 and 2010 because many businesses shut down and the unemployment rate increased. The...
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...more international trade, it will make the globalization and the globalization has more benefits. For example, it can reduce the goods costing, which some countries can open the factories on China. However, the globalization has some disadvantages. For example, the global financial crisis occurred on 2008. This essay is going to analyses how globalization and global financial crisis in the business environment impact on the organization you work in and the tasks you undertake. The globalization refers to the system of contact among the countries of the world in order to improve the global economy. The globalization is the amalgamation of economics and societies all over the world. Globalization including economic, technological, political, and cultural exchanges made possible largely by advances in communication, transportation, and infrastructure (Hotbabefacthicks, 2010). The global financial crisis refers to a widespread economic emergency that began in 2007. Beginning with the crash of the United States financial system, the crisis quickly spread worldwide, thanks to the interconnected marks of modern global trading systems. It is still impossible to fully explain the effects of the global financial crisis, as the disaster continues to damage and impede markets worldwide even several years after the initial event (wiseGEEK, 2003-2012). To make the information more clear, we have an interview with two businesses Page 1 people, first one...
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...The Sub-Prime Crisis of Has Led to a Financial Crisis in 2008-2009 That Impacted Many Countries Around the World. Discuss the Cause of the Sub-Prime Crisis and the Major Parties Responsible. The sub-prime crisis of has led to a financial crisis in 2008-2009 that impacted many countries around the world. Discuss the cause of the sub-prime crisis and the major parties responsible. A number of parties were responsible for the sub-prime crisis during the period of 2008 to 2009. This essay will be discussing the parties responsible for the sub-prime crisis and how the individual party’s action causes the others to step deeper into the problem. As define by investopedia, sub-prime is “a classification of borrowers with a tarnished or limited credit history. Lenders will use a credit scoring system to determine which loans a borrower may qualify for. Subprime loans carry more credit risk, and as such, will carry higher interest rates as well.” The US subprime mortgage crisis was the catalysis of the finical crisis and subsequently cause the recession that began in 2008. The cause of sub-prime crisis arise from sub-prime loans or also know as sub-prime mortgage, the growth of this loan started expanding during the 1990s and such load is popularly seen in auto (car) loans, home equity (housing loans) and mortgage lending. Sub-prime loans are higher-risk loans labeled “B”, “C” and D credits, where “D” being the “worst”, resulting in a higher interest rate, which also mean a...
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...The on-going financial crisis which has resulted in the collapse of financial institutions, downturns in stock markets and bank bailouts around the world since 2008 has led to the European sovereign debt crisis. The purpose of this essay is to analyse the effectiveness of several economic policies which can be used to solve this crisis. The essay looks at the effectiveness of fiscal austerity which has already been implemented by some European countries, then look at whether there is room for monetary policy, lastly looks at whether there is room for further policy recommendations. The European sovereign debt crisis refers to the collapse of several financial institutions in certain European countries which form part of the European Union, high government debt in these European countries as well as rapidly increasing bond yield spreads in government securities has caused a sovereign debt crisis. This on-going financial crisis, which began in 2008, has made it very difficult or even impossible for some country’s governments in Europe to pay back their debt without the assistance of third parties which then further increases their debt (Times, 2012). Economists have thought long and hard about ways in which they can improve and in essence solve the European debt crisis. One way of doing so is through fiscal policy, which refers to government spending and taxation. A fiscal consolidation, which is a term typically used to discuss government economic policy, refers to a policy...
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...Credit Crunch and Recent Global Financial Crisis International Finance 6BUS0226 Lecturer: Arjuna Kanakaratnam Submission Date: 9th April 2012 Level 6 Business Administration Zhaoju Liu | 11722622 | Word Count: 1885 I. Introduction The global financial crisis brings the whole world negative consequences. According to many scholars, it is the worst economic recession since The Great Depression in 1930s. The world economy confronts meltdown. Numerous enterprises have been affected seriously. So do the global financial markets. This essay is to discuss the reasons and impacts of the crisis as well as demonstrate the government responses. Furthermore, some lessons from the recession will be delivered at the end of the essay. It is very important to make clear of the crisis and integrate the financial theories with practice. II. Discussion The probable reason of the current financial crisis is recognised as the sub-prime mortgage segment of the USA for which were the results of long times of exceptionally loose monetary policy of some developed economies during the early period of last ten years (Mohan, 2009). After the internet bubble broken in the US more than ten years ago, most of the developed economies especially the US extremely eased the monetary policy. Only one percent of the Policy Rate had been announced in the summer of 2003 in the US (Mohan, 2009). This policy lasted for a long period and consequently stimulated the housing bubble of the America...
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...the Global Financial Crisis Harlita H. Tomlinson Capella University BMGT8114: Accounting in the Global Era Dr. Wendy Achilles June 8,2014 Table of Contents Abstract 3 Positive and Negative Effects of the Global Financial Crisis 4 Background on the Global Financial Crisis 5 Global Financial Crisis and Its Negative Effects 9 Lack of Financial Sector Regulation and Oversights 9 Increase in the Number of Bankruptcies 11 Global Financial Crisis and Its Positive Effects 12 Designing Regulations to Monitor the Financial Sector 12 Global Governance as a Side Effect of the Global Financial Crisis 13 Lessons Learned 16 Domestic Lessons Learned 16 Global Lessons Learned 17 Lessons from Romania. 18 The Role of Financial Executives in GFC 19 Conclusions 21 References 24 Abstract The first financial crisis of the twenty-first century has not yet ended, according to Gorton and Metrick (2012), the wave of research on the crisis has already exceeded any single reader’s capacity, with the pace of new work only making this task harder. The Global Financial Crisis is considered by many economists to be the worst financial crisis since the Great Depression. Global Financial Crisis resulted in the threat of the total collapse of large financial institutions, the bailout of banks by national governments, and market downturns around the world. In the aftermath of this crisis, the housing market declined significantly and has not recovered. This essay begins by...
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...world economists pay much attention to the European economic development. Due to the fact that countries have various financial policies and complex national conditions, it seems that Eurozone faced more difficult challenges when the financial crisis happened (Auditor General of the Swedish National Audit Office, 2010). For instance, the subprime crisis in 2008 shocked the whole European economy. Then in 2009, the sovereign debt crisis happened in Greece made the entire world economic unstable. The Eurozone keeps low rate of inflation for a long time and single currency that can protect their members away from the external economy attack (Otmar, 2008), especially for the weak member countries. Using the Euro may reduce the risks in the cost of borrowing in the financial market, which emerge encourage potential investors to invest capital in their countries (P. Jacques. 2006). However, according to the classical theory of Keynes, financial policy is a decisive tool for stabilizing the economy. It means that government should increase expenditure and reduce the tax to stabilize the economy in recession (ibid). However, it would be unworkable in the Eurozone. If European countries merely carried out the single currency and ignored the unbalanced economic foundation of each country, it may cause conflict between national political institutions and independent financial policy. Despite the fact that since the single currency has been carried out, the Eurozone GDP has increased sharply...
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...aftermath of the financial crisis of 2007, there has been a great deal of debate regarding the key underlying causes. For example, when people discuss the collapse of the financial markets, the most frequently mentioned word is subprime mortgagewhich is considered as the culprit of the crisis. Yet, is subprime mortgage the root of the crisis? If it was, then the question would be how this type of financial product, which is only marginal part of the financial market, could cause such a catastrophic crisis. Specifically, systemic risk was developed. Essentially, subprime mortgage is a mere part of superficial reasons of the crisis and was induced by other underlying factors which will be discussed in the essay. Due to the current situation, it is necessary to correct such misunderstandings. According to the statistics issued by the National Bureau of Statistics of China, GDP growth rate of China has dropped from nearly 12 per cent three years ago to a more subdued 7.5 per cent in the second quarter. Despite a year and a half of recession, Euro zone’s GDP rose at an annualised rate of 1.1 per cent in the second quarter, this pickup still leaves GDP across the Euro area 0.7 per cent lower than a year ago (The Economist, 2013). This essay will argue that in order to resolve the current economic problems it is crucial to identify the underlying causes rather than accepting superficial reasons. It will also be argued that there are three key reasons for the crisis: monetary policy...
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...Explain the term “credit crunch” and how it has developed. Discuss the implications for UK Small and Medium Enterprises (SMEs). This essay will look at explaining the term credit crunch, as to what it means and how it has been applied to within the global economy. More so the essay will cover how the credit crunch of 2007 has developed over time, with the key aspect of the US housing market developing to then impact other countries, such as the UK economy. The essay will discuss the implications on UK small and medium enterprises. One of the key issues which will be discussed as to the implication of the credit crunch, is the availability of finance to SMEs. More so other non direct aspects which have which act as implications will too be discussed. The credit crunch has been defined as a shortage of money or loans as well as other types of credit given by banks. In short the BBC defined the credit crunch as “a severe shortage of money or credit” BBC: Timeline: Credit crunch to downturn (2009) It describes the economic condition of an economy. In most situations, when an economy has been in a credit crunch, the economic condition of a country is unstable or also known as a financial crisis. As the Guardian states, “the current global financial crisis is commonly known as the credit crunch.” Kollewe (2008) Credit crunch’s can occur mostly when an economy is in a recession, a time when the economy is declining during which the there is fall in gross domestic product (GDP). ...
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...International Financial Crisis and reasons The financial crisis of 2007–2008, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s. Many causes for the financial crisis have been suggested, with varying weight assigned by experts. The U.S. Senate's Levin–Coburn Report asserted that the crisis happened because of: 1-High risk 2 Complex financial products 3-Undisclosed conflicts of interest 4-The failure of regulators 5-The credit rating agencies 6-The market itself to rein in the excesses of Wall Street 7-Weak and fraudulent underwriting practices 8-Deregulation 9-Predatory lending 10-Increased debt burden or over-leveraging 11-Boom and collapse of the shadow banking system 12-Commodities boom Financial crisis in Pakistan and Reasons 1-One of the immediate causes is Political instability due to Musharaf’s position as president, delay in restoring judiciary and resultantly withdrawal of PML (N) from the alliance leaving behind ‘dead’ ministry of finance. In contrast the present government is not showing strong will to cope with the situation. Though some Positive Measures. To end Load Shedding till 14th August, 2009, Benazir income Scheme programmed, Distribution of Land in Sindh, tight Tariff System against luxury items 2-Suicide attacks in the industrial cities-fear among people, disinvestment and maximum outflow...
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...Name: Priyesh Kasan Student Number: 448851 Course: Economics 1 (ECON 1000) Topic: Essay – Semester 2 (2010) (Final Copy) Essay Topic 2: “During the 2006-2008 period COSATU called for changes to government fiscal policy citing “prospects for a more expansionary fiscal policy” (COSATU Secretariat Report to the Ninth National Congress, Sept 2006) and arguing that “[fiscal policy] is unduly focused on chasing macro-economic targets, such as low budget deficits” (COSATU General Secretary, Zwelinzima Vavi’s address to the AGM of NEHAWU Securities, Nov 2008).” Answer the following: By making reference to the compulsory readings, discuss whether you think it was advisable for the South African government to increase government spending during the 2006 and 2007 financial periods. Explain why you feel this way with reference to the information contained in the readings. Tutor: Maite (14:15 - 15:00) Due Date: 20 September 2010 No. Of Words: 1097 INRODUCTION: This essay will explore the meaning of the fiscal policy, an increase in government expenditure and how it relates to inflation and the aggregate expenditure model. It will discuss whether it was advisable for the South African government to increase government spending during the 2006 and 2007 financial periods. The mains views that will be discussed will be based on how an increase in government expenditure affects the aggregate expenditure curve, what is the result of this on the GDP gap and also its effect on the inflation rate...
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...Waller (2010) suggests globalisation has been a characteristic of human affairs for two and a half thousand years, and probably much longer (p. 1). Globalisation is a wide concept that affects cultural, social, technological and economic relationships (Sjøholt & Vatne, 2012). A prime example of globalisation being affected by these relationships is the 2007/2008 Global Financial Crisis. During the Global Financial Crisis, Australia demonstrated resilience as their economy growth continued uninterrupted (Merricks, 2012, p. 37). According to Adonis (2013), the Global Financial Crisis is the greatest example of ways in which globalization can spread toxically and rapidly, and the fragility that comes with globalisation. Furthermore, Boyd (2011)...
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...information, you may think it may be the status of a certain poor country. The particularly serious numbers show that country is experiencing many problems. I will tell you a secret that you can not have more surprise. The above information is situation of the country that has a most powerful economy all over the world. That is United State of America. The year 2008 marked the economic crisis which caused the USA severe damages. Many of the US financial institutions have suffered heavy losses due to the effect of this crisis. In addition, the crisis is increasingly spreading to the economies of some countries in Europe and in Japan... As a result, some powerful banks in these countries are also suffering from the impact of the crisis. The consequences of the crisis are not only observed in the dimensions of business operation and the economic growth rate and employment rate in the US, but also taken into consideration on the global impact on the shift of international investment capital flow in particular and the world’s economic growth in general. Therefore, it is really necessary to find out what creates this crisis in order to help other countries avoid it. My...
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