...Four Team A group discussion for week 4 focus on the first topic of Gross Domestic Product (GDP). GDP is the basic measure of an economy economic performance. This is the market value of the total quantity of final goods and services produced over the specified time period. The GDP is actually measured quarterly, but the number is then multiplied by four, so that the amount is in annual terms (Mankiw, 2010). In order for our team to understand this measure, we all agreed that it is necessary to first understand the concept of a final product. The GDP does not measure the market value of everything that is produced, because this would entail double counting. Each final product includes intermediate goods whose value is included in the value of the final product. Take, for example, a simple loaf of bread: the loaf is made from flour (and other ingredients), the flour is made from (say) wheat, and the wheat is grown from seeds. The value of the bread (the final product) includes the value of the flour, which includes the value of the wheat, which includes the value of the seeds. The GDP includes the market value of the bread — it does not then add the value of the flour, the value of the wheat and the value of the seeds. The value of a final product is also the value of the incomes of everyone involved in the production of both the final product and the intermediate goods that went into its production (Mankiw, 2010). Our next topic we elaborated on was the business...
Words: 784 - Pages: 4
... Week One: Fundamentals of Macroeconomics | | Details | Due | Points | Objectives | 1.1 Explain the economic interaction of resources among households, government, and business. 1.2 Describe gross domestic product, inflation rate, unemployment rate, and interest rate. 1.3 Identify sources of historical economic data and economic forecasts. | | | Reading | Read Ch. 1 of Macroeconomics. | | | Reading | Read Ch. 2 of Macroeconomics. | | | Reading | Read Ch. 6 of Macroeconomics. | | | Reading | Read Ch. 7 of Macroeconomics. | | | Reading | Read Ch. 8 of Macroeconomics. | | | Reading | Read this week’s Electronic Reserve Readings. | | | Participation | Participate in class discussion. | Day 7 | 2 | Discussion...
Words: 1726 - Pages: 7
...Workshop 3 – Feb. 07, 2013 Workshop 4 – Feb. 14, 2013 Workshop 5 – Feb. 21, 2013 COURSE LOCATION, DAY AND TIME: San Bernardino Learning Center, Thursdays, 6:00 p.m. to 10:00 p.m. REQUIRED READING: Students are required to read all materials available at the Course Materials site for this course on https://ecampus.phoenix.edu/portal/portal/public/login.aspx Whenever there is a question about what assignments are due, please remember this syllabus is considered the ruling document. Copyright Copyright ©2009 by University of Phoenix. All rights reserved. University of Phoenix© is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft©, Windows©, and Windows NT© are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix© editorial standards and practices. Policies Students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the...
Words: 1342 - Pages: 6
...DMBA 620: Weekly Discussion Topics Week 1 Discussion Topic: Part 1: Inclusive Wealth Report 1. Define Gross Domestic Product (GDP) and the Human Development index in your own words. You may need to do a bit of research to define these. 2. Define Inclusive Wealth and its components. Why might GDP alone be insufficient to measure a nation's progress? 3. Can you think of other possible indicators of a nation's progress? Explain. 4. Feel free to give your thoughts on this report and its practical application or implications. 5. Feel free to review classmates' postings and comment on their viewpoints. Week 1 Discussion Topic: Part 3: Government Price Controls 1. There are federal and state laws setting minimum wages for workers. There are also city laws setting price ceilings for housing rents. a. Why are there laws setting minimum wages for workers and maximum rents for housing? b. Why are there no laws setting maximum wages for workers or minimum rents for housing? 2. It has been stated that price controls cause shortages or surpluses. a. Do rent controls cause shortages or surpluses, and why? b. Do minimum wage laws cause shortages or surpluses, and why? 3. What are the advantages and disadvantages of minimum wage laws for: a. Workers? b. Employers? c. Consumers? d. If minimum wage laws are beneficial, why are minimum wages set as low as they are – for example, what about a minimum wage rate of $100 per hour? e. If rent...
Words: 427 - Pages: 2
...Discuss this week’s objectives with your team. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field. Prepare at least a 350 word paper detailing the findings of your discussion. Click the Assignment Files tab to submit your assignment For this week the topic Julio felt the most comfortable with is social responsibility. At the beginning of chapter three the definition is explained as have a duty to the community where you operate in other than making a profit off that same community. It does not necessarily mean that a private company has to turn into a not for profit organization but that it can also take the community and the environment into consideration in its day to day operations. Interestingly enough, on his way home from work on Monday he heard on the radio, NPR to be exact that millennial when joining the work force after college take into consideration what a company does for its community much more than any other generations before. To this generation a solid corporate social stance is just as important as a benefit package. Jeremy found this week’s reading very interesting. In chapter four, the discussion was primarily geared towards the concepts of a strategic management and business model. While going over the information, he came across an issue that he loves to talk about since this subject is close to his heart. The issue was the environment...
Words: 880 - Pages: 4
...with it. We all enjoyed the discussion questions. Everyone had their own beliefs about the system and how to change the OPEC oligopoly. It was all very interesting. Kimberly states in week four the material covers deficits, surplus, debt, and assets. First the material defines deficits and surplus that was easy to comprehend and extremely enlightening. As a former college student majoring in business the terms should be comprehendible but was surprising to learn the true meaning of both deficits and surplus. Deficits and surplus are both dealing with money, first the chapter 17 defines deficits as a shortfall in revenues under payments, explaining that surplus was the opposite, and this was easily understood. After further detail about deficits and surplus the chapter later introduces the definition of debt and assets is common knowledge. The material goes on to explain the difference between individual and government debt. The material concludes the chapter by explaining the burden of the US government deficits or debt. Kimberly also believed that in chapter 18 of the eBook, the material continues to cover topics written about earlier in chapter 17. These topics, found in both chapters, are more in-depth explaining the United States debt and what this debt means for the economy financially. The chapter also briefly discusses policies such as the fiscal policy. In chapter 18 this in-depth description of the topics was a bit of a struggle, just...
Words: 1191 - Pages: 5
..................................................................................... 3 2.1. Research method .................................................................................................. 3 2.2. Documentation of research .................................................................................... 3 2.3. Discussion of the source material .......................................................................... 4 2.4. Summaries ............................................................................................................ 5 2.4.1. 2.4.2. 2.4.3. The Mexican Economy After the Global Financial Crisis ............................................. 5 Inside Mexico’s Drug War ............................................................................................ 5 Drug War - Confronting a shared threat ....................................................................... 7 3. Discussion of the literature on the Drug War in Mexico ........................................ 8 3.1. Characterisation of the topic in relation to the subject ............................................ 8 3.2. Comprehensive discussion...
Words: 3600 - Pages: 15
...domestic product (GDP), rate of growth, inflation, and national income. Individuals, companies, and government make decisions based on these factors which affect the aggregate economy as a whole (Investopedia, 2014). To understand the basics of economics, it is important to define some of the terms and also take a look how some real issues can impact economics. Gross domestic product (GDP) is the market value of all goods and services produced in a country for a specific time period. How this is measured is by calculating all firm’s investment + household consumption + government spending + net exports. For example, Just Games Inc. (JGI) sets up game arcades. They set up arcades in places such as bowling alleys, game rooms, lodges, and any other place that customers will play games. JGI employs a software engineer to create a new game for them for $100K; this is an investment by the company. John Black, owner of JGI, buys a car for $25K; this is consumer consumption. State of Alaska has decided that they will put in a couple of games in the state building which come to $10K; this is government spending. Next we find JGI has set up an arcade in Mexico at the cost of $125K but he needs a few parts from Japan in order to complete this sale at the cost of $20K. Here JGI has two transactions which include import and export. The net export of this Mexico order is $105K. So just with these examples we have a GDP of $240K. Of course this is a very simplistic example of GDP. The measurement...
Words: 1720 - Pages: 7
...In the chapter "Junior Polatkin's Wild West Show", Junior attend an university that was founded in the nineteenth century to convert and "re-educate" Native Americans. In class, we watched several video about how Europeans force Native American children to change their language and habits, sent them to European family and let them to attend “re-educate” school. In the chapter “Amusements”, they found the Dirty Joe drunk. Usually, they let him sleep in peace, but leaving him at a white event makes them uncomfortable. When Victor and Sadi tend to be Dirty Joe, the white revelers laugh at them and made Indians get out of there. The scene reminded me of our discussions in class. When blacks entered the white community, whites began to flee. They regard black...
Words: 634 - Pages: 3
...and Capital market * Economic Highlights * Key Economic indicators * Incentive for Capital Market | 06 07 07 | 03 | Revenue Analysis * Total Revenue composition * Total Tax Revenue Composition * Revenue Estimates | 10 10 11 | 04 | Government Expenditure * Public Sector * Power and Energy * Education * Health * Interest * Defense Service * Agriculture | 14 15 15 16 17 17 17 | 05 | Budget Deficit | 20 | 06 | Overview of Fiscal Measure * Personal Income Tax * Surcharge * Corporate Tax * Import Duty and Supplementary Duty * Value Added Tax | 23 23 23 24 25 | 07 | Macroeconomic Target | 27 | 08 | Discussion of...
Words: 3820 - Pages: 16
...Firm Behavior, the Organization of Industry, and the Long Run Real Economy Instructions: 1) For each topic area studied (and listed below), respond to one or two problems (equal to a total of 10 problem responses for module three) and post to your group discussion board. Note: Please copy the entire question you are responding to at the beginning of your responses. 2) In addition, as you know by now, please discuss your group members’ postings and respond to the comments made on your postings during the discussion period (see the course syllabus for the due dates and a more detailed discussion of the course grading scheme). The Costs of Production Select one or two of the following questions to answer. 1. What are opportunity costs? How do explicit and implicit costs relate to opportunity costs? Also, a key difference between accountants and economists is their different treatment of the cost of capital. Does this cause an accountant's estimate of total costs to be higher or lower than an economist's estimate? Explain. 2. The production function depicts a relationship between which two variables? Also, draw a production function that exhibits diminishing marginal product. 3. How would a production function that exhibits decreasing marginal product affect the shape of the total cost curve? Explain or draw a graph. 4. What effect, if any, does diminishing marginal product have on the shape of the marginal cost curve? 5. Bob...
Words: 2050 - Pages: 9
...and MBA students for 25+ years. The International Management course was taught in two classes at an undergraduate Business program. Channel of Distribution course was given at a MBA program. Real-world examples were utilized and applied in class whenever applicable. Students did final projects individually or in a team, by employing case studies via library and internet search. Class evaluations indicated that the case studies enhanced significantly their overall learning experience. Students rated the courses good to excellent. This paper gave the summary. Keyword: Case Studies, In-Class Team Assignment, Final Projects, International Management and Channels of Distribution Harvard University, Cranfield University (UK) and many other research institutions published case studies for 25 years. International Management and Channels Distribution were taught in an undergraduate business program and a MBA program respectively. Job market is very good. A quick search on Indeed (2011) yielded 5,850 jobs for international manager and 1,160 jobs for channels distribution. This search was done for Manhattan zip code 10001, and within a twenty-mile radius. In the down economy, managers and distributors are still in great demand, CNBC (2011). Every business needs to generate revenue. Companies need to find channels to distribute/sell existing product/services. Since 1996, internet e-commerce quickly became the new paradigm for doing business. The savvy managers take advantage...
Words: 3470 - Pages: 14
...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 to the programme and promotion requirements of the National Curriculum Statement, Grades R–12 Copyright reserved Please turn over Economics 4 Examination Guidelines 2. ASSESSMENT IN GRADE 12 2.1 DBE/2014 FORMAT OF THE PAPERS CLASSIFICATION OF TOPICS FOR THE GRADE 12 ECONOMICS QUESTION PAPERS FINAL EXAMINATION PAPERS ECONOMICS GR.12 PAPER 1 150 MARKS - PAPER 2 1½ HOURS 150 MARKS...
Words: 5874 - Pages: 24
...Adam Levy 2/16/13 PA 315 TITLE: “For China, Spending Is Harder Than It Looks” SOURCE: The Wall Street Journal AUTHOR: Liyan Qi and Aaron Back DATE: 2/12/13 SUMMARY: Some economists say that the fiscal position of China, the world’s second largest economy, isn’t as strong as it looks. The concern is that China’s debt does not take into account its weak local government finances, bad loans in its banking system, and the future costs of an aging population. This means that if China wishes to offer tax cuts and boost spending, they have less room than imagined. Nearly all tax revenue in China goes to the central government, so local governments such as provinces and townships rely on fiscal transfers from Beijing, as well as independent revenue sources such as land sales, which can be unreliable. This gives them a strong incentive to continue borrowing massive amounts of money from state-owned banks and private trusts, debts for which the central government could ultimately be responsible if they turn bad. Local governments depend on land sale proceeds which count for around 25% of their revenue. Last year official data showed that this declined by 14% nationwide due to a central-government campaign to hold down property prices. Local governments' revenue and debt challenges come as China seeks to narrow income and promote urbanization. These are priorities that will require huge outlays in areas such as health care, education and urban infrastructure over the coming years. Things...
Words: 675 - Pages: 3
...Proposed Topic/Title of Research: A COMPREHENSIVE STUDY: Link between ICT growth and economic growth in the Greater China Region Background: As to these days, perhaps the most important enabling technology worldwide: Information and Communication Technologies (ICT). China is not the only fast-growing economy that is making waves around the world. ICT in China’s current economic growth rate is approximately 9 percent annually, which is impressive economically. Its contribution to global GDP growth since 2000 has been almost twice as large as that of the next three biggest emerging economies (India, Brazil and Russia) combined. Some even refer to China as the mother of emerging markets and transition economies. China joined the World Trade Organization towards the end of 2001. It has also been experiencing a long period of steady economic growth and was chosen to host the 2008 Olympic Games. Although there is still a huge gap between China and developed countries in the development of the ICT industry, the astonishing pace of its progress shows promise for the country’s New Economy. There are empirical evidences in recent years on China’s ICT industry development and diffusion. Indeed, The ICT industry is becoming the most dynamic sector in China’s economy. However, a clear digital divide among the nation’s economic regions is foreseen. Information and communication technologies (ICT) are therefore playing an increasingly central role in today's China. In just a...
Words: 1071 - Pages: 5
