...Kennesaw State University – Spring 2014 Department of Economics, Finance, and Quantitative Analysis ECON2200-Sec:W01 (CRN: 10999) - Principles of Macroeconomics Instructor: Murat Doral Office: BB456 Phone: 678-797-2656 KSU e-mail: mdoral@kennesaw.edu Office Hours MW 10:00am-12:30pm or by appointment. Required Textbook: Mankiw, Gregory N. Western/Cengage Learning, 2009. Principles of Economics, Fifth Edition, South- Course Description: Analysis of socioeconomic goals, money and credit systems, theories of national income, employment and economic growth. Course Prerequisites: ECON2100 and six (6) credit hours of MATH numbered 1101 or higher. Course Description: This course is an introduction to the formal study of macroeconomics. Macroeconomics involves the study of the economy as a whole. Topics that will be covered include national income determination, the general price level, interest rates, unemployment, and fiscal and monetary policies. The emphasis will be on genuine understanding of the material, and not on "memorization". (See last page of Syllabus for Course Learning Objectives.) Course Withdrawal Date and Policy: Last day to withdraw without academic penalty is Monday 03/03/2014. Students who wish to withdraw with a grade "W" must do so formally through the Registrar's Office on or before Monday 03/03/2014. Make-Up Exam Policy: No make-up exams will be administered during the semester. It is the student’s responsibility to check the course calendar and announcements...
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...on the changes of the current federal budget, viable for a stronger economy? This essay aims to illustrate, the success of Australia’s fiscal policy implemented by the current federal budget and its effects for the long-run. In relation, do these strategies provide sufficient evidence that ensures Australia’s “position of strength in the world economy” and if they are considerably better, in comparison to other international economic environments? I will focus primarily on the government’s expenditure on investment to boost the economy and the resulting effect it has towards the productivity, innovation and competition for Australia. The 2013-14 Budget, which illustrates a reduction in taxes of about $ 17 billion and an increase in expenditures of $ 24 billion, is strongly coherent, increasing aggregate demand by about 3 per cent. This process of fiscal expansion has been possible given the low Australian government debt that allows restoring an even budget by 2015 – 2016. There are several fiscal challenges directed to the 2013 Federal Budget. One particular Domestic challenge involves the importance on maintaining fiscal and monetary policy alignment. The previous federal budget 2012-13 fails to preserve alignment between fiscal and monetary policy. As a contractive fiscal policy lead to a decreasing aggregate demand by about 2%, the Reserve bank was cutting interest rates to stimulate demand. Thus, it is a challenge to keep a coherent fiscal and monetary policy. Furthermore...
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...microeconomics, which relates to the study of a single decision and ways it affects other economic variables, macroeconomics strives to understand aggregate economy and ways it is affected by changes in employment, local production, and inflation. Further, the government through the central bank and other bodies uses analytical models to understand changes in aggregate economic determinants such as economic growth or rate of employment thereby formulating policies that strive to accelerate economic growth. Understandably, one of the economic variables that help establish aggregate changes in the economy is changes in rate of unemployment. Unemployment refers to a number of persons ready and willing to work in particular type of a job at current market for pay but cannot secure one. In essence, unemployment as an economic indicator measures the health of the economy (Mercatus.org, 2016). For instance, high rates of unemployment indicate poor performing economy, while a decline in the rate of unemployment indicates a healthy economy or economic growth. Therefore, a measure of the rate of unemployment is an aggregate used to determine economic performance and changes that affect the overall performance of the economy. Therefore, this essay strives to elucidate aggregate economy and factors affecting it, for instance, ways changes in aggregate rate of unemployment affect the overall economic performance. Rate of Unemployment Rate of unemployment refers to the ratio of the number of...
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...An essay On “Monetary Policy of Bangladesh” Course Code: MBA 510 Course Title: Macro Economics Submitted to: Professor Abdul Bayes Department of Business Administration East West University Submitted by: Minhajul Abedin ID: 2013-1-95-019 Section: 01 Date of submission: 24 august, 2013 Monetary Policy of Bangladesh Decisions regarding the monetary policy are very important for any country in today’s world. To control the supply of money by targeting a rate of interest, and to promote the economic growth and stability, a good control over the monetary policy is a must for every country. Bangladesh is a developing country and its monetary policies are generated by the central bank of the country. Though the land size of Bangladesh is not that big but in terms of total people, it is a big country relative to other countries. As a developing country it is undertaking so many developments and business projects both publicly and privately. The monetary policy of Bangladesh is playing a pivotal role to control the money supply of the country which in turn is promoting the overall economic growth of the country. This essay briefly discusses about some of the activities of the central bank related with the monetary policy of Bangladesh along with some other primary things which are related to the basic monetary policy. In this essay the “Monetary Policy of Bangladesh” will be presented by following this sequence, 1. A brief overview of monetary policy ...
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...international cocoa/chocolate market over the last 20 years. Hriskesh Ashokan 42522490 The aim of this essay is to apply the economic concepts I have learnt, to depict changes that have taken place in the international cocoa/chocolate market over the last 20 years. Given the criteria that we are only allowed up to five articles to cite references, most of my figures will be limited to those portrayed in my sourced articles. In recent years, the market for chocolate has been rather stagnant (Britain:Stuffed; Chocolate, 2003)Let’s take demand into consideration, for being a force that has driven the change in the cocoa/chocolate market. There are several factors that affect demand, but in this case, notable ones that are related to the chocolate market would have to be specific preferences of consumers, as well as the number of consumers. With Britain being one of the world’s largest consumers of chocolate, let’s relate to the sales figures they have had. The decline in sales numbers can be attributed to consumer behaviour. It could be the fact that consumers have been made more aware that chocolate is not forgiving when it comes to health. ‘Perhaps browbeaten by the obesity scaremongers, perhaps disgusted by their inability to see their toes’ (Britain:Stuffed; Chocolate, 2003). This undesired change in their preference for chocolate is reflected with a decrease in demand. This is shown in figure 1, with the shift from D1 to D2. In the article (Britain:Stuffed; Chocolate, 2003)...
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...Why do some countries have high rates of inflation while others maintain stable prices? Why do all countries experience recessions and depressions—recurrent periods of falling incomes and rising unemployment—and how can government policy reduce the frequency and severity of these episodes? Macroeconomics, the study of the economy as a whole, attempts to answer these and many related questions. To appreciate the importance of macroeconomics, you need only read the newspaper or listen to the news. Every day you can see headlines such as INCOME GROWTH SLOWS, FED MOVES TO COMBAT INFLATION, or STOCKS FALL AMID RECESSION FEARS. Although these macroeconomic events may seem abstract, they touch all of our lives. Business executives forecasting the demand for their products must guess how fast consumers’ incomes will grow. Senior citizens living on fixed incomes wonder how fast prices will rise. Recent college graduates looking for jobs hope that the economy will boom and that firms will be hiring. Because the state of the economy affects everyone, macroeconomic issues play a central role in political debate.Voters are aware of how the economy is doing, and they know that government policy can affect the economy in powerful ways.As a result, the popularity of the incumbent president rises when the economy is doing well and falls when it is doing...
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...Why do some countries have high rates of inflation while others maintain stable prices? Why do all countries experience recessions and depressions—recurrent periods of falling incomes and rising unemployment—and how can government policy reduce the frequency and severity of these episodes? Macroeconomics, the study of the economy as a whole, attempts to answer these and many related questions. To appreciate the importance of macroeconomics, you need only read the newspaper or listen to the news. Every day you can see headlines such as INCOME GROWTH SLOWS, FED MOVES TO COMBAT INFLATION, or STOCKS FALL AMID RECESSION FEARS. Although these macroeconomic events may seem abstract, they touch all of our lives. Business executives forecasting the demand for their products must guess how fast consumers’ incomes will grow. Senior citizens living on fixed incomes wonder how fast prices will rise. Recent college graduates looking for jobs hope that the economy will boom and that firms will be hiring. Because the state of the economy affects everyone, macroeconomic issues play a central role in political debate.Voters are aware of how the economy is doing, and they know that government policy can affect the economy in powerful ways.As a result, the popularity of the incumbent president rises when the economy is doing well and falls when it is doing...
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...ECONOMICS 201: PRINCIPLES OF MACROECONOMICS Fall Term 2015 2:00-3:15 PM Mondays and Wednesdays Room 1090 CASL CRN # 11014 Section 004 Carol Hogan Office Hours: 10:00-10:45 AM 2190 Social Sciences Building Mondays and Wednesdays, 1:00- 313-436-9181 1:45 PM Mondays and Wednesdays, clhogan@umich.edu 5:00-5:45 PM Mondays, and by appointment |ECON 201 - Prin: Macroeconomics | |Together with ECON 202, this course serves to introduce the student to the basic ideas and concepts of modern economic analysis, and applies| |them to current economic problems, policies and issues. The focus of this course is on macroeconomics: income and wealth, employment, and | |prices at the national level in the United States economy. It is recommended that students take ECON 201 before ECON 202. MATH 105 is highly| |recommended but not required. (F,W,S). | |ECON 201 - Prin: Macroeconomics | |Together with ECON 202, this course serves to introduce the student to the basic ideas and concepts of modern economic analysis, and applies| |them to current economic problems, policies and issues. The focus of this course is on macroeconomics: income...
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............................................................................................................................................. 1 AIMS ....................................................................................................................................................... 2 SKILLS AND ABILITIES TO BE ASSESSED ....................................................................................... 2 PRE-REQUISITES OF THE SYLLABUS .............................................................................................. 3 STRUCTURE OF THE SYLLABUS ..................................................................................................... 3 UNIT 1: MICROECONOMICS MODULE 1: METHODOLOGY: DEMAND AND SUPPLY ......................................................... 4 MODULE 2: MARKET STRUCTURE, MARKET FAILURE AND INTERVENTION……...12 MODULE 3: DISTRIBUTION THEORY ........................................................................................ 17...
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...ECONOMICS EXAMINATION GUIDELINES GRADE 12 2014 These guidelines consist of 25 pages. Copyright reserved Please turn over Economics 2 Examination Guidelines DBE/2014 INDEX PAGE 3 1. INTRODUCTION 2. ASSESSMENT IN GRADE 12 2.1 Format of the question papers 2.2 Detail of question papers 4 4 4 3. CONTENT 6 4. CONCLUSION Copyright reserved 25 Please turn over Economics 1. 3 Examination Guidelines DBE/2014 INTRODUCTION The Curriculum and Assessment Policy Statement (CAPS) for Economics outlines the nature and purpose of the subject Economics. This guides the philosophy underlying the teaching and assessment of the subject in Grade 12. The purpose of these Examination Guidelines is to: • • Provide clarity on the depth and scope of the content to be assessed in the Grade 12 National Senior Certificate (NSC) Examination in Economics. Assist teachers to adequately prepare learners for the examinations. This document deals with the final Grade 12 external examinations. It does not deal in any depth with the School-Based Assessment (SBA). This guideline should be read in conjunction with: • • • The National Curriculum Statement (NCS) Curriculum and Assessment Policy Statement (CAPS): Economics The National Protocol of Assessment: An addendum to the policy document, the National Senior Certificate: A qualification at Level 4 on the National Qualifications Framework (NQF), regarding the National Protocol for Assessment (Grades R–12) The national policy pertaining...
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...Macroeconomy Chapter 6: * Central Park contained one of the “Hoovervilles” that had sprung up all across America as a result of a catastrophic economic slump in 1929. (The Great Depression) * During the time of Great Depression, microeconomics was a well-developed branch of economics, but macroeconomics was not. * In the 1930’s, there were no expanding industries; everything was headed downward. * Microeconomics focuses on how decisions are made by individuals and firms and the consequences of those decisions; Macroeconomics examines the overall behavior of the economy—how the actions of all the individuals and firms in the economy interact to produce a particular economy-wide level of economic performance. * Many thousands or millions of individual actions compound upon one another to produce an outcome that isn’t simply the sum of those individual actions. (rubber-necking traffic jam example) * Paradox of thrift: when families and businesses are worried about the possibility of economic hard times, they prepare by cutting their spending. This reduction in spending depresses the economy as consumers spend less and businesses react by laying off workers. As a result, families and businesses may end up worse off than it they hadn’t cut their spending. * The flip-side is also true; seemingly profligate behavior leads to good times for all * Before 1930’s, economists regarded the economy as self-regulating: unemployment would...
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...Iowa State University Digital Repository @ Iowa State University Graduate Theses and Dissertations Graduate College 2012 Three essays on biofuel, environmental economics, and international trade Jingbo Cui Iowa State University Follow this and additional works at: http://lib.dr.iastate.edu/etd Part of the Agricultural and Resource Economics Commons, Agricultural Economics Commons, Economics Commons, and the Natural Resource Economics Commons Recommended Citation Cui, Jingbo, "Three essays on biofuel, environmental economics, and international trade" (2012). Graduate Theses and Dissertations. Paper 12304. This Dissertation is brought to you for free and open access by the Graduate College at Digital Repository @ Iowa State University. It has been accepted for inclusion in Graduate Theses and Dissertations by an authorized administrator of Digital Repository @ Iowa State University. For more information, please contact hinefuku@iastate.edu. Three essays on biofuel, environmental economics, and international trade by Jingbo Cui A dissertation submitted to the graduate faculty in partial fulfillment of the requirements for the degree of DOCTOR OF PHILOSOPHY Major: Economics Program of Study Committee: Harvey Lapan, Co-major Professor GianCarlo Moschini, Co-major Professor Sebastien Pouliot John Schroeter Rajesh Singh Iowa State University Ames, Iowa 2012 Copyright c Jingbo Cui, 2012. All rights reserved. ii DEDICATION ...
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...PRODUCTION MANAGEMENT 1. Define production: According to Elwood Butta “production is a process by which goods or services are created”. Production involves the step by step convertion of one form of material into another through chemical or mechanical process with a view to enhance the utility of the product or services. 2. Characteristics features of production system? 1. Production is an organized activity. 2. The system transforms the various inputs into useful outputs. 3. Production system does not operate in isolation from the other organizational systems. 4. There exists a feed back about the activities which is essential to control and improve system proformation. 3. Define production management: “Production management deals with the decision making related to production process of that the resulting goods and service is produced according to specifications in the amounts and at the scheduled demanded and at minimum cost” – Elwood Butta. 4. What are the difference between production management and operation management? 1. 2. 3. 4. 5. Production mgmt It is concerned with manufacturing Out put is tangible In this, job useless labour and more equipment There is no customer participation 1. 2. 3. 4. Operation mgmt It is concerned with services Output is intangible In this, job use more labour and less equipment Frequent customer participation What are the functions of production mgmt? 1. Production planning 2. Production control 1 3. Factory building 4. Provision...
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...Coalition Cuts: “Tough But Fair” Immediately as I write this essay Britain’s national debt stands at around £946,319, 240,034, 83.7% debt to GDP ratio whilst the US has a national debt of over $13,492,377,103,199. ‘Thanks to Mr Osborne, Britain now has the earliest, most aggressive programme to cut government borrowing in the G7, despite widespread fears about the strength of the UK and global recovery’ (Flanders, 2010). In this essay I will focus on Britain’s budget deficit, in particular the Emergency Budget, presenting various topics for debate in relation to different aspects of the budget. I will further expand into broader topics such as the recession as a whole, the previous Labour government, other countries situations and subsequent response and the theory behind the policies undertaken, whether driven by political or economic incentives for example. Throughout the essay I will attempt to present ideas in a balanced approach, clearly showing the difference between positive and normative statements. An economies growth rate fluctuates over a period of time, known as the economic cycle. It shows the changes over time in the macro economy such as a recession where growth falls below the trend growth rate: a negative output gap. Such events are cyclical and the general period of time between one boom and another is usually five to eight years (Peter Cramp, Informe). Gordon Brown was keen to avoid successive budget deficits...
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...Essays in Accounting Theory: Corporate Earnings Management in a Dynamic Setting and Public Disclosure in the Financial Services Industry A Dissertation Presented to the Faculty of the Graduate School of Yale University in Candidacy for the Degree of Doctor of Philosophy by Kai Du Dissertation Director: Shyam Sunder December 2012 c 2012 by Kai Du All rights reserved. Abstract Essays in Accounting Theory: Corporate Earnings Management in a Dynamic Setting and Public Disclosure in the Financial Services Industry Kai Du 2012 This dissertation consists of three essays on the interactions between economic fundamentals and accounting information in three different settings: an infinite-horizon financial reporting problem, a coordination game with trading in the secondary market, and a bank which provides risk sharing among demand depositors. In the first essay, I propose a dynamic model of corporate earnings management in which investors have different expectations schemes. I find that while earnings management may exist when investors have rational expectations or misspecified Bayesian beliefs, it disappears in the long run of an adaptive learning process. The model also offers ample predictions on the time-series properties of asset prices and return predictabilities. The second essay studies the role of public disclosure by a distressed firm whose creditors engage in a coordination game with trading. I find that conditioned on the private information...
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