...Fundamentals of Macroeconomics Jillian Sandbothe ECO/372 April 28, 2014 Dr. Robert Larkin Fundamentals of Macroeconomics Part 1 In the fundamentals of macroeconomics there are some basic vocabulary terms that everyone should know. These terms help to break down certain dynamics of basic economic factors. A list is provided of some of these basic terms and their meanings. * Gross domestic product (GDP): This is the value set upon a good or service, per the current market, within a one calendar year timeframe. * Real GDP: This is the value set upon goods or services per one calendar year that is adjusted for growth changes such as inflation. * Nominal GDP: This is the value set upon goods or services that is not adjusted. * Unemployment rate: This is the percentage of the population that is able to work but whom are not currently working. * Inflation rate: This is the rate at which the price levels increase. * Interest rate: This is what will be paid to borrow money and is based upon inflation. Part 2 The economy is not just a whole bunch of entities that are attached together but intertwined and dependent upon one another. When one small part of the economy shifts the rest is altered. An example of how this flow of events works would be when a large organization goes under there are massive employee layoffs. When this happens consumers decrease their purchases, such as groceries. When consumers...
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...China’s House Price: Affected by Economic Fundamentals or Real Estate Policy? © Higher Education Press and Springer-Verlag 2010 Abstract Many theory and empirical literature conclude that house price can reflect economic fundamentals in the long-term. However, by using China’s panel data of 35 main cities stretching from 1998 to 2007, we find that there is no stable relationship between house price and economic fundamentals. House price has deviated upward from the economic fundamentals since government started macro-control of the real estate market. We consider that the mechanism between the house price and economic fundamentals is distorted by China’s real estate policy, especially its land policy. Meanwhile the policy itself is an important factor in explaining the changes of China’s house price. Then we estimate the dynamic panel data model on house price and the variables which are controlled by real estate policy. The result shows: land supply has negative effects on house price; financial mortgages for real estate have positive effects on house price; and the area of housing sold and the area of vacant housing, which reflects the supply and demand of the housing market, has negative effects on house price. We also find some differences in house price influence factor between eastern and mid-western cities. Finally, we propose policy suggestions according to the empirical results. Keywords house price, economic fundamental, real estate policy, dynamic panel data model...
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...Thinking big is all the rage these days with U.S. money managers. Many are hiring high-profile economists to help them better navigate global economic and geopolitical events. Hedge funds and other institutional investors are tapping so-called macro thinkers like economists Martin Feldstein, Henry Kaufman and former Federal Reserve Chairman Alan Greenspan at a time when fundamental analysis is often being overwhelmed by big-picture political and governmental risks. This year alone, hedge fund EQA Partners brought on former Federal Reserve governor Randall Kroszner, and Brevan Howard, a British-based hedge fund, hired Shelley Goldberg, a former commodities strategist at Nouriel Roubini’s Roubini Global Economics. Yet with the mediocre performance this year of macro funds that make wagers on big-picture events, it is surprising that even more narrowly focused hedge funds keep turning to famous macro thinkers for advice. Skeptics say it may simply be a case of fund managers looking to find cover for positions they take by bringing on a famous name to justify their moves to investors. Indeed, it’s been a frustrating year even for the best investors, not just managers of macro funds, which are down more than 1 percent year-to-date, according to Hedge Fund Research. The overall hedge fund industry is up a meager 5 percent, roughly half of the gain posted this year by the benchmark Standard & Poor’s 500 index. The rough time for hedge funds is showing up in some high-profile...
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...Week Two Student Guide Week Two continues to focus on fundamental concepts and indicators of the macroeconomy. The main topics uncovered for this week include aggregate demand, aggregate supply, the Keynesian Model, and the Classical Model. You have an opportunity to explore these concepts in the Learning Team Weekly Reflection, the Fundamentals of Macroeconomics Paper, and the discussion topic. Aggregate Demand and Supply Models OBJECTIVE: Analyze the impact of various factors on aggregate demand and supply. Resource: Ch. 10 of Macroeconomics. Content • Ch. 10: “The Aggregate Demand/Aggregate Supply Model” o The Historical Development of Modern Macro o The AS/AD Model o The Aggregate Demand Curve o The Short-Run Aggregate Supply Curve o The Long-Run Aggregate Supply Curve o Equilibrium in the Aggregate Economy o Why Macro Policy Is More Complicate Than the AS/AD Model Makes It Look OBJECTIVE: Evaluate the effectiveness of changes in fiscal policies using Keynesian and Classical models Resource: Ch. 12 of Macroeconomics. Content • Ch. 12: “Thinking Like a Modern Macroeconomist” o Why It Is Important to Know about Modern Macro Theory o Engineering Models and Scientific Models o From the Keynesian Revolution to Modern Macro Models o A Beginner’s Guide to the DSGE Model o Policy Implications of the DSGE Model o How Relevant Are the Problems? o Modern Macroeconomic...
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...MARKETING FUNDAMENTALS: LECTURE 2: RAZZAQUE MARK1012: LECTURE 2 MARKETING STRATEGY & MARKETING ENVIRONMENT Mohammed Abdur Razzaque: School of Marketing Associate Professor MARK1012: LECTURE 2A Marketing Strategy Strategy Marketing Environment Consumer and Business Market Introduction to Marketing Marketing Research 1 MARKETING FUNDAMENTALS: LECTURE 2: RAZZAQUE Lecture objectives 1. 2. 3. 4. 5. Explain company‐wide strategic planning and its four steps Discuss how to design business portfolios and develop growth strategies Explain marketing’s role in strategic planning and how marketing works with its partners to create and deliver customer value Describe the elements of a customer‐driven marketing strategy and mix, and the forces that influence it List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring and managing return on marketing investment L 2L2A-3 3 Strategic planning: A task and a process The task of selecting an overall company strategy for long‐ run survival and growth. The process of developing and maintaining a strategic fit between the organisation’s goals and capabilities and its changing marketing opportunities. Sets the stage for the rest of the planning in the firm such as annual plans and long‐range plans which deal with the company’s current businesses and how to keep them going. Strategies follow a hierarchy Corporate level...
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...Marketing I (Fundamentals) Week 2 Marketing Orientation Marketing Management Ø The analysis , Planning , Implementation and Control activities of management with regards to marketing. Marketing Management Philosophies 1. Production Concept Focus on production and distribution efficiencies Consumers will favour products that are available and affordable 2. Product concept Focus on product improvement Consumers favour better products 3. Selling concept Focus on more selling and promotion Consumers won’t buy unless you persuade them 4. Marketing Concept Focus on satisfying target markets needs and wants better than competitors as a way to achieve organisational goals. 5. Societal Marketing Concept Ø Same as marketing Ø But do it in a way that the society’s well-being is maintained or improved. The pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long-run welfare –e.g. fast food. The societal concept seems appropriate bin an age of: • • • • Environmental problems Resource shortages Rapid population growth World-wide economic problems 1 Marketing I (Fundamentals) • Neglected social services Marketing Challenge into the Next Century 1. Growth of nonprofits marketing 2. The information Technology Boom 3. Rapid globalisation 4. The changing world economy 5. The call for move ethics and social responsibility 6. The new marketing landscape The 4ps 1. Product • • • The product can be tangible or intangible The right product for...
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...a family unit, it concentrates on a specific unit while the last is the investigation of totals not a solitary unit but rather every one of the units consolidates. Take a gander at the imperative contrasts in the middle of micro and macro aspects underneath. The difference between micro and macro economics is simple....
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...more than 200 years when they say we have been evolved from apes . We have been deceived by the likes of Richard Dawkins and other scientists who believed in this. There are 2 categories of evolutionary biology. Micro-evolution and macro-evolution. Micro-evolution is evolutionary change WITHIN a species or small group of organisms, especially over a short period. However, macro-evolution is evolution on a scale of SEPERATED gene pools and focuses on change that occurs at or above the level of species. What you spoke about viruses and bacteria evolving is under the micro-evolution and therefore we as Muslims have no problem to accept micro-evolution. The problem comes in macro-evolution where it says one species changes to another kind. There is not a single observational evidence to support this. The most common evidence given by atheists for this is Darwin's finches where the size of beaks changes over time to adapt to a different environment. Again, this is not macro-evolution because they still remain to be birds but rather it is adaptation. There is no involvement of a species changing to another kind. Again, bacteria still remains bacteria in spite of its change in the genetic-make up. In general, we Muslims can accept micro-evolution but NOT macro-evolution because still there is no evidence for this. The Glorious Qur'an states the first human pair was Adam and Eve but we as Muslims can't...
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...Fundamentals of Macroeconomics Pua Edayan ECO/372 October 26, 2012 William Akamine Fundamentals of Macroeconomics Gross domestic product is the market value of final goods and services produced in a given period within the United States. National accounts are related to the gross domestic product which is a subject in macroeconomics. It has three ways that results are the same. Product approach is the most direct and sums the outputs. This approach has market value of final goods and services that is calculated within a year. The gross domestic product is released quarterly. It is used to measure economic outputs and the growth rate is evaluated by the Federal Reserve. Real gross domestic product reflects positive contributions from exports with fixed investments from nonresidential, personal expenditures, and state and government spending whereas, a subtraction of imports are increased. It measures the economy as the cost incurred and earned incomes of the gross domestic product are in the production. For example, if 1992 is the base year, then the real gross domestic product for 1996 is calculated by quantities of goods and services that were purchased in 1996 are multiplied by their 1992 prices. Evaluations at current market prices are known as nominal gross domestic product. Therefore, all changes in market prices include during the year due to deflation or inflation. Deflation meaning a decrease in price level and inflation that show...
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...What are the differences between micro and macro estimating approaches? Under what conditions would you prefer one over the other? Macro estimates are typically top down, are usually used in the project conceptual phase, and depend on measures such as weight, square feet, ratios. Macro methods do not consider individual activity issues and problems. Macro estimates are good for rough estimates and can help select and prioritize projects. UNCERTAINTY Micro time and cost estimates are usually tied directly to the WBS and a work package. These estimates are made by people familiar with the task, which helps to gain buy-in on the validity of the estimate. Use of several people should improve the accuracy of the estimate. Micro estimates should be preferred if time to estimate is available, estimating cost is reasonable, and accuracy is important. Microeconomics is generally the study of individuals and business decisions, macroeconomics looks at higher up country and government decisions. Macroeconomics and microeconomics, and their wide array of underlying concepts, have been the subject of a great deal of writings. The field of study is vast; here is a brief summary of what each covers: Microeconomics is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services. This means also taking into account taxes and regulations created by governments. Microeconomics focuses on supply and demand and other forces...
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...dedeMAPÚA INSTITUTE OF TECHNOLOGY School of Industrial Engineering and Engineering Management VISION Mapúa shall be an international center of excellence in technology education by: providing instructions that are current in content and state-of-the art in delivery; engaging in cutting-edge research; and responding to the big local and global technological challenges of the times MISSION a) The mission of Mapúa Institute of Technology is to disseminate, generate, preserve and apply scientific, engineering, architectural and IT knowledge. b) The Institute shall, using the most effective means, provide its students with professional and advanced scientific and engineering, architectural and information technology education through rigorous and upto-date academic programs with ample opportunities for the exercise of creativity and the experience of discovery. c) It shall implement curricula that, while being steeped in technologies, shall also be rich in the humanities, languages and social sciences that will inculcate ethics. d) The Institute shall advance and preserve knowledge by undertaking research and reporting on the results of such inquiries. e) The Institute, singly or in collaboration with others, shall bring to bear the world's vast store of knowledge in science, engineering and other realms on the problems of the industry and the community in order to make the Philippines and the world a better place. MISSION a 1. To prepare students for a professional Engineering...
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...Resource 1: EDA 575 Educational Leadership in a Changing World Benchmark Assessment and Rubric Targeted Essential Learning Students will examine the fundamental concepts of organizational theories and leadership models on a macro level as they relate to educational enterprises in their quest for school improvement. (ISLLC 2008: 1, 3) Assessment Tool Selected Essay Specific Performance/Task(s) • Create plans to achieve defined organizational goals. (ISLLC 2008: 1C; ELCC 1.1, 1.2) • Establish effective management of the organization to support the learning environment. (ISLLC 2008: 3A; ELCC 3.3) Relevancy of Task to Principal Candidate An effective leader must understand the fundamental concepts of organizational theories and leadership at a macro level, as well as the complexity of being a school leader with a vision for systematic change and practical skills that work to ensure smooth day-to-day operations of a school. Assessment: Student Prompts/Directions 1) Individual: The Big Picture: A Strategic Plan (Benchmark Assessment) a) School Profile i) In Module 3 and using the institution you with which you are associated, you wrote a school profile (1000–1250 words). The school profile’s major goal is to describe the school and its programs with the intent to improve the institution through informed decision making. Issues to consider when developing the school profile included: (1) Philosophy, mission, and vision. (2) Community and school (staff and students)...
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...HNC BusinessUnit 4 Marketing Principles Learning outcome 2 Micro & Macro Environment Objectives of presentation • Discover the micro marketing environment (internal) • Discover the macro marketing environment (PEST FACTORS-external) • Explain ‘The Marketing Audit’ and how the elements influence marketing decisions Integrated Marketing Integrated marketing strategies take advantage of a combination of communication tools and media to spread a message such as one-to-one marketing, mass marketing and direct marketing. The strategy is developed to ensure the company will deliver the intended value to those customers through a blend of marketing mix tools. Example of an Integrated Marketing Plan Environmental Analysis Environmental analysis is a vital exercise to complete by any company that will explore and understand the external local, national or international forces that might affect your business. The factors are largely outside the direct control of any company and can sometimes have a negative impact on their plans. Equally this can be very important as it will support the business and marketing strategy allowing the company to take advantage of potential opportunities whilst minimising the potential threats to the company. The Marketing Environment According to Philip Kotler, “A company’s marketing environment consists of the internal factors & forces, which affect the company’s ability to develop & maintain successful...
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...Assess the contribution of functionalism to an understanding of society Functionalism is a macro, structural theory. It focuses on the needs of the social system as a whole and how these needs shape all the main features of society. It is a consensus theory being as it sees society as based on a basic consensus or agreement among its members about values, goals and rules. However because of this understanding of the functionalist theory I believe it has a generally weak contribution to the understanding of society. Because it is a macro theory it doesn’t look at the small groups or individuals in society and thus can miss very important factors. Also because it is a consensus theory it doesn’t look at the inequalities that Marxists look at, such as exploitation and the conflict between the bourgeoisie and the proletariats. It can be argued that functionalist only look at the bright side of society and doesn’t focuses on the bigger problems and issues it faces. Functionalists describe society as an organic analogy. Parsons also argues that social order is achieved through the existence of a shared culture or a central value system. He believes that cultures provide a framework that allows individuals to cooperate by laying down rules about how they should behave and what others may expect of them. Social order is only possible if members of society agree on these norms and values. The function of the value consensus is therefore to make social order possible, it does...
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...3- STRENGTHENING MACRO-ECONOMIC RESILIENCE FOR GROWTH 3- STRENGTHENING MACRO-ECONOMIC RESILIENCE FOR GROWTH 2= STRENGTHENING MACRO-ECONOMIC RESILIENCE FOR GROWTH 2= STRENGTHENING MACRO-ECONOMIC RESILIENCE FOR GROWTH 1= ANCHORING GROWTH ON PEOPLE 1= ANCHORING GROWTH ON PEOPLE 11TH MALAYSIAN PLAN 4- TRANSFORMING THE PUBLIC SERVICE FOR PRODUCTIVITY 4- TRANSFORMING THE PUBLIC SERVICE FOR PRODUCTIVITY Our economic fundamentals need to be rooted in stable prices, productivity, and a high level of savings. Our goals will not only be GDP-focused, but balanced with equitable wealth distribution and enhanced wellbeing. * Increasing private investment and consumption * New growth through productivity and knowledge * Prudent public finance Our economic fundamentals need to be rooted in stable prices, productivity, and a high level of savings. Our goals will not only be GDP-focused, but balanced with equitable wealth distribution and enhanced wellbeing. * Increasing private investment and consumption * New growth through productivity and knowledge * Prudent public finance Six strategic thrusts will address the end-to-end needs of the rakyat 1- Enhancing inclusiveness towards and equitable society 2- Improving wellbing for all 3- Accelerating human capital development for an advanced nation 4- Pursuing green growth for sustainability and resilience 5- Strengthening infrastructure to support economic expansion 6-...
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