...Introduction to Economics Economics has become quite a popular course at school in recent years. In fact, economics plays an important role in various fields of our life. Most of us may feel that we are familiar with economics, but we seldom think about what economics is and how we can apply it into our future life. These two questions are going to be covered in this essay. 1. What is economics? The definition of economicsWhy should your students consider studying economics at degree level? The Economics Network's website (whystudyeconomics.ac.uk) attempts to answer this question, guiding A-level students through the difficult decision of choosing a degree course and encouraging students who might otherwise not consider a degree in economics that it is a worthwhile subject. It also provides information to students and parents. This year the website has been relaunched with a brand new look. But why should students consider economics and what can they expect? [PUBLICATION ABSTRACT] As a new science, economics has been interpreted by professional economists in different ways. However, the definition of economics in Alfred Marshall’s textbook is as widely accepted today as it was in 1890, when the first edition of Principles of Economics was published. As Marshall (1961, p. 1) indicated, ‘Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the...
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...Introduction to Economics Being the manager of a financial planning business, a decision must be made concerning two of the financial planners. Phil and Francis both have the ability to produce financial statements and answering the telephone calls. Research reveals a solution to the issue of self-sufficiency or job specialization (O’Sullivan, Sheffrin, & Perez, 2010). The data is collected, processed, and analyzed for making the decision on Phil and Francis being self-sufficient or specializing to ensure greater productivity in financial planning. Phil can prepare one financial statement or answer eight telephone calls in an hour. Francis can prepare four financial statements or answer ten telephone calls in an hour. Opportunity cost is the base of specialization and trade which benefits people. As shown below, Francis has the absolute advantage in completing both tasks (O’Sullivan, Sheffrin, & Perez, 2010). The opportunity cost for Phil is eight telephone calls for 1/8 financial statements. The opportunity cost for Francis is giving up two and one-half telephone calls for 2/5 financial statements. | Phil | Francis | | Fin. Stmt. | Ph. calls | Fin. Stmt. | Ph. Calls | Output per hour | 1 | 8 | 4 | 10 | Opportunity Cost | 8 phone calls | 1/8 financial statement | 2 1/2 phone calls | 2/5 financial statements | If Phil and Francis were to specialize they would be more productive, a gain for the financial planning business. When analyzing why...
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...Introduction Macroeconomics can be defined as the study of the entire economy (Chari & Kehoe, 2006, p. 3).The key problems facing policy makers are how to improve people standard of living in order to achieve economic growth while at the same time controlling inflation and unemployment (Gans, King, Stonecash and Mankiw, 2009, p. 11). However, the aim of discussion is to analyses how “a country’s standard of living depends on its ability to produce goods and services”. Review Lessons (principles) 8 Gans, et al (2009, p. 11) stipulated that “a country’s standard of living may be measured by comparing personal incomes or by comparing the total market value of a nation’s production”. People living in high-income countries may have a better standard of living than people living in low-income countries because they can afford cars, houses, clothes, furniture, appliances, foods, education and more (Chari & Kehoe, 2006, p. 3). Hobijn and Steindel (2009, p. 2) suggested that the living standard can be determined by looking at the country GDP which stands for “gross domestic product”. Nevertheless, the focus of this discussion is on the real GDP because it measures the production of goods and services at constant prices as it is a pretty good indicator of individual material standard (Hobijn & Steindel, 2009, p. 2). Appendices A and B highlights countries with the highest and lowest GDP per capita in the world. GDP per capita gives the average amount of income that each...
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...liberalization Customs Union Economics of European Integration Lecture 1: Economics of preferential liberalization Thomas Blondiau (Center for Economic Studies, KU Leuven) Louvain Institute for Ireland in Europe, January 2012 Thomas Blondiau (Center for Economic Studies, KU Leuven) Preferential liberalization Discriminatory liberalization Customs Union Introduction Graphical analysis Welfare Introduction Questions that we will answer in this section Why was/is the EU so successful? Thomas Blondiau (Center for Economic Studies, KU Leuven) Preferential liberalization Discriminatory liberalization Customs Union Introduction Graphical analysis Welfare Introduction Questions that we will answer in this section Why was/is the EU so successful? What economic forces are driving the spread of European integration? Thomas Blondiau (Center for Economic Studies, KU Leuven) Preferential liberalization Discriminatory liberalization Customs Union Introduction Graphical analysis Welfare Introduction Questions that we will answer in this section Why was/is the EU so successful? What economic forces are driving the spread of European integration? We use a simplifying (NICNIR) economic framework Thomas Blondiau (Center for Economic Studies, KU Leuven) Preferential liberalization Discriminatory liberalization Customs Union Introduction Graphical analysis Welfare Introduction Questions that we will answer...
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...A primer in Entrepreneurship Prof. Dr. Ulrich Kaiser Institute for Strategy and Business Economics University of Zurich Spring semester 2008 Chapter 1: Introduction to Entrepreneurship Table of Contents I. II. Introduction to Entrepreneurship p p Changing Demographics of Entrepreneurs III. Entrepreneurship’s Importance IV. The Entrepreneurial Process University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 2 1 I. A. 1. 2. 3. Introduction to Entrepreneurship What is Entrepreneurship? “Entrepreneur” derives from the French words entre, meaning “between,” and p prendre, meaning “to take” , g Originally used to describe people who “take on the risk” between buyers and sellers or who “undertake” a task such as starting a new venture Inventors and entrepreneurs differ from one another: 1. 2. 4. Inventor creates something new Entrepreneur assembles and then integrates all resources needed to transform the invention into a viable business. needed to transform the invention into a viable business Entrepreneurship: process by which individuals pursue opportunities without regard to resources they currently control University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 3 I. A. 4. Introduction to Entrepreneurship What is Entrepreneurship? Established firms with an orientation to behave entrepreneurially practice ...
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...College of Economics and Management 85 COLLEGE OF ECONOMICS AND MANAGEMENT Libornio S. Cabanilla, Dean Jose V. Camacho, Jr., Associate Dean Agnes T. Banzon, College Secretary Reynaldo L. Tan, Chair, Dept. of Agribusiness Management Cesar B. Quicoy, Chair, Dept. of Agricultural Economics Amelia L. Bello, Chair, Dept. of Economics The College of Economics and Management (CEM) was formally created in the 996th UP-BOR meeting, February 1987. However, the College traces its roots to the Institute of Agricultural Development and Administration (IADA)which was established in 1975, with three departments – Agricultural Economics (DAE), Economics (DE), and Management (DM), and was elevated to the College of Economics and Management from the merger of IADA with the Agricultural Credit and Cooperative Studies and the Agrarian Reform Institute in 1978. At present, CEM is composed of three departments – the Department of Agricultural Economics, the Department of Economics and the Department of Agribusiness Management. The college sees itself as a center of excellence in undergraduate and graduate instruction, research and extension in economics, agricultural and applied economics, and agribusiness management in Asia. It envisions to be an institution of higher learning that can serve as an active catalyst for economic and social transformation. Its two-fold mission is to produce graduates and future leaders with strong training in economics, agricultural and applied economics, and in agribusiness...
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...MICRO ECONOMICS Courses with conceptual focus Course Planner 12526::Pooja Kansra Lectures 4.0 Tutorials Practicals Credits 1.0 0.0 5.0 TextBooks Sr No T-1 Title Microeconomics Theory and Applications Reference Books Sr No R-1 R-2 R-3 Other Reading Sr No OR-1 OR-2 OR-3 OR-4 OR-5 OR-6 OR-7 Journals articles as Compulsary reading (specific articles, complete reference) Kwang Ng,Yew,Why Is a Financial Crisis Important? The Significance of the Relaxation of the Assumption of Perfect Competition,International Journal of Business and Economics,2009,Vol.8,No.2,91-114 , Roman Indrest and Tommasso Valletti,Price Discrimination in input markets,The Rand Journal of Economics,Vol. 40,No.1,Spring 2009,1-19 , Cordtz,Dan,Car wars: A global report on Auto Industry,FInancial World,August 22,1989;158,17;ABI/INFORM Global , S.k.Mishra,A Brief History of Production Functions,The IUP Journal of Managerial Economics,November,2010,Vol. VIII,No. 4,pp.6-34 , Monika Jain,Paradox of Plenty,with Special Reference to Inelastic Demand for Apples,The IUP Journal of Managerial Economics,May,2011,Vol. IX,No. 2,pp.4455 , Cathy Locke Bee Staff Writer. The Sacramento Bee ,"EID report reveals household water use on rise An analysis of supply, demand recommends holding off on meters" http://search.proquest.com/docview/246565304?accountid=80692 , Yeung; Vincent Mok,Regional monopoly and interregional and intraregional competition :The parallel trade in coca cola between shanghai and Hangzhou in China,Economic Geography;...
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...I. Major/ Minor Programmes available for non-FBE students Programme School of Business Business School of Economics and Finance Economics Finance Major X √ √ Minor √ √ √ II. GPA Requirement A yearly GPA of 3.0 of above as of August 31 (excluding Summer Semester) at the end of the first year of study must be obtained for eligibility to declare any major or minor offered by the Faculty of Business and Economics. For students who fail to meet the GPA requirement at the end of their second year of study, their declaration of FBE major/minor will be removed from the SIS by their home Faculty. III. Requirements for Major Programmes Students are required to complete 60 credits of prescribed courses for each major as follows: (A) Majors offered by the School of Economics and Finance 1. Major in Economics (60 credits) Course code Course Credits Year 1 courses: 12 credits ECON1001 Introduction to economics I 6 ECON1002 Introduction to economics II 6 Year 2 and Year 3 courses: 48 credits ECON2101 Microeconomic theory or 6 ECON2113 Microeconomic analysis 6 ECON2102 Macroeconomic theory or Macroeconomic analysis ECON2114 ECONxxxx/ Year two/Year three courses listed in Economics 36 FINAxxxx or Finance electives Total: 60 2. Major in Finance (60 credits) Course code Course Year 1 courses: 18 credits BUSI1002 Introduction to accounting ECON1001 Introduction to economics I FINA1003 Corporate finance Year 2 and Year 3 courses: 42 credits ECON2101 Microeconomic theory or ECON2113...
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...The DIGITAL ECONOMY I. Introduction ( Pearlson & Saunders, 2013, Introduction; Tapscott, 2014, Ch. 1) @mtpadam Week 1 1 COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 WARNING This material has been copied and communicated to you by or on behalf of the University of Newcastle pursuant to Part VB of the Copyright Act 1968 (the Act) The material in this communication may be subject to copyright under the Act. Any further copying or communication of this material by you may be the subject of copyright protection under the Act. Do not remove this notice. 1 Educational Objectives for Today • Foundations of the economy • Similarities and differences between analog and digital goods • Understand the basic concepts of the digital economy • A brief overview of the history of IT • Creative destruction and digital disruption | EBUS3050 | The Digital Economy| I. Introduction “These Google guys, they want to be billionaires and rock stars and go to conferences and all that. Let us see if they still want to run the business intwo to three years.” (Bill Gates, Microsoft, 2003) “$100 million is way to much to pay for Microsoft.” (IBM, 1982) Week 1 3 “Information technology and business are becoming inextricably interwoven. I don’t think anybody can talk meaningfully about one without the talking about the others.” (Bill Gates, Microsoft) “By 2005 or so, it will become clear that the Internet’s impact on the economy...
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...Economic Issues: An Introduction DE3A 34 Assessment Exemplar for Higher National Unit DE3A 34: Economic Issues: An Introduction 1st edition: July 2004 Price: £20.00 Publication code: CB2154 Published by the Scottish Qualifications Authority Hanover House, 24 Douglas Street, Glasgow, G2 7NQ, and Ironmills Road, Dalkeith, Midlothian, EH22 1LE The information in this publication may be reproduced to support SQA qualifications. If it is reproduced, SQA should be clearly acknowledged as the source. If it is to be used for any other purpose, then written permission must be obtained from the Support Materials Development Officer at SQA. It must not be reproduced for trade or commercial purposes. © Scottish Qualifications Authority 2004 DE3A 34: Economic Issues: An Introduction Contents 1 2 3 Introduction How to generate evidence Assessment exemplar Scottish Qualifications Authority Assessment Exemplars for Higher National Units DE3A 34: Economic Issues: An Introduction 1 Introduction This pack must be used in conjunction with a copy of the Unit specification which details the standard of performance expected of the candidate. A copy of the Unit specification can be obtained from SQA. This pack supplements the assessment guidelines and support notes of the Unit specification. It aims to provide an example of assessment that is valid, reliable and practicable. The assessment task(s) detailed in this pack correspond to the assessment guidelines outlined...
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...Structure and Pattern of Introduction of Business Related Discipline Research Articles Qing Tian I. Introduction Business and economics papers have made a significant contribution to the development of the corporations and economics growth. However, it may be difficult for the readers to fully understand the materials if the structure of the papers is very complicated. In recent decades, there is an increasing trend in the complicacy of business and economics papers (Ellison, 2000). This phenomenon will induce more complexity in comprehending profound research papers. Regarding it, some basic models have been invented to give a general guideline of the building blocks of the research papers. For example, for writing an introduction of an article, Swales (1990) introduced a rhetorical pattern called create-a-research-space (CARS) which segments the introduction into three major parts, namely move 1, 2 and 3. The move 1 aims to give a background information of the topic of the research paper, depicting a general picture of which area the paper will fall into. The next move known as niche basically serves to connect move 1 and 3, illustrating the motive and inspiration of the paper (Swales & Feak, 2012). Followed by niche is the main purpose of the article. By presenting in either a purposive or descriptive way, the author can show a ultimate goal of the article. However, although some kinds of standardizations have been made to formalize the research papers, the construction...
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...I 12:30 - 2:0 MW 142 00828 MANAGERIAL ACCOUNTING J 2:0 - 3:30 ST 142 00829 MANAGERIAL ACCOUNTING K 3:30 - 5:0 MW 142 MACRO ECONOMICS 01263 MACRO ECONOMICS A 5:0 - 6:30 MW 7072 01265 MACRO ECONOMICS C 9:30 - 11:0 MW 7072 01266 MACRO ECONOMICS D 11:0 - 12:30 ST 7072 01267 MACRO ECONOMICS E 12:30 - 2:0 MW 7072 01268 MACRO ECONOMICS F 2:0 - 3:30 ST 7072 01269 MACRO ECONOMICS G 3:30 - 5:0 MW 7072 01270 MACRO ECONOMICS H 5:0 - 6:30 ST 7072 BEHAVIORAL SCIENCE 00783 INTRODUCTION TO BEHAVIORAL SCIENCE A 3:30 - 5:0 MW 154 00784 INTRODUCTION TO BEHAVIORAL SCIENCE B 5:0 - 6:30 ST 154 00785 INTRODUCTION TO BEHAVIORAL SCIENCE D 9:30 - 11:0 ST 154 00787 INTRODUCTION TO BEHAVIORAL SCIENCE E 11:0 - 12:30 MW 154 00788 INTRODUCTION TO BEHAVIORAL SCIENCE F 12:30 - 2:0 ST 154 00789 INTRODUCTION TO BEHAVIORAL SCIENCE G 2:0 - 3:30 MW 154 00790 INTRODUCTION TO BEHAVIORAL SCIENCE H 3:30 - 5:0 ST 154 00791 INTRODUCTION TO BEHAVIORAL SCIENCE I 5:0 - 6:30 MW 154 INTRO TO PROGRAMMING 00030 INTRO TO PROGRAMMING (BBA) A 8:0 - 10:0 S 432 LABORATORY...
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...ENGE 1024 | ENGINEERING EXPLORATION | 2 | A | ENGL 1105 | FRESHMAN ENGLISH | 3 | A | MATH 1205 | CALCULUS | 3 | A- | ECON 2005 | MICRO PRINCIPLES OF ECONOMICS | 3 | A- | ACIS 1504 | INTRODUCTION TO BUSINESS INFORMATION SYSTEMS | 3 | B+ | ENGE 1114 | EXPLORATION OF ENGINEERING DESIGN | 2 | A | MATH 1206 | CALCULUS | 3 | B+ | PHYS 2305 | FOUNDATIONS OF PHYSICS | 4 | A | AOE 2074 | COMPUTATIONAL METHODS | 3 | B+ | ECON 2006 | MACRO PRINCIPLES OF ECONOMICS | 3 | A- | ECON 3104 | MICRO ECONOMICS THEORY | 3 | B+ | AOE 2104 | INTRODUCTION TO AEROSPACE ENGINEERING | 3 | A- | ESM 2104 | STATICS | 3 | B | MATH 2224 | MULTIVARIABLE CALCULUS | 3 | A- | AOE 3094 | MATERIALS FOR AEROSPACE AND OCEAN ENGINEERING | 3 | B+ | ACIS 2115 | PRINCIPLES OF ACCOUNTING | 3 | A | BIT 2405 | QUANTITATIVE METHODS | 3 | A | AOE 3104 | AIRCRAFT PERFORMANCE | 3 | B+ | ESM 2204 | MECHANICS OF DEFORMABLE BODIES | 3 | B+ | ESM 2304 | DYNAMICS | 3 | A- | ECON 3204 | MACRO ECONOMICS THEORY | 3 | B+ | MGT 3304 | MANAGEMENT THEORY AND LEADERSHIP PRACTICE | 3 | A | AOE 3054 | AEROSPACE EXPERIMENTAL METHODS | 3 | B+ | AOE 3114 | COMPRESSIBLE AERODYNAMICS | 3 | B | AOE 3124 | AEROSPACE STRUCTURES | 3 | A- | AOE 3134 | STABILITY AND CONTROL | 3 | A | MKT 3104 | MARKETING MANAGEMENT | 3 | B+ | FIN 3104 | INTRODUCTION TO FINANCE | 3 | A | AOE 3044 | BOUNDARY LAYER THEORY | 3 | B | AOE 4154 | AEROSPACE ENGINEERING LAB | 1 | A | AOE 4234 | AEROSPACE PROPULSION | 3 |...
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...edition Global Business Today CharlesW. L Hill University of Washington McGraw-Hill Irwin contents PREFACE xiii PART ONE Chapter One Introduction 4 What Is Globalization? 6 The Globalization of Markets 6 The Globalization of Production 7 The Emergence of Global Institutions 9 Drivers of Globalization 11 Declining Trade and Investmen t Barriers 11 The Role of Technological Change 14 The Changing Demographics of the Global Economy 16 The Changing World Output and World Trade Picture 16 The Changing Foreign Direct Investment Picture 18 The Changing Nature of the Multinational Enterprise 19 The Changing World Order 22 The Global Economy of the Twenty-First Century 23 The Globalization Debate 24 Antiglobalization Protests 24 Globalization, Jobs, and Income 26 Globalization, Labor Policies, and the Environment 28 Globalization and,National Sovereignty 29 Globalization and the World's Poor 30 Managing in the Global Marketplace 31 Key Terms 33 Chapter Summary 33 Critical Thinking and Discussion Questions 34 Research Task 34 Closing Case: Legal Outsourcing 35 Introduction and Overview 2 Globalization 3 PART TWO Chapter Two Country Differences 36 National Differences in Political Economy 37 Opening Case: Ghana: An African Dynamo 37 Introduction 38 Political Systems 39 Collectivism and Individualism 39 Democracy and Totalitarianism 42 Economic Systems 44 Market Economy 44 Command Economy 45 Mixed Economy 45 Legal Systems 46 Different Legal Systems 46 Differences in Contract Law 47...
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...Accredited Tertiary Courses Listing 2012 Accredited Tertiary Courses Listing 2012 – as at 26 September 2012 1 2012 Accredited Undergraduate Courses AUSTRALIAN CAPITAL TERRITORY The Australian National University University of Canberra NEW SOUTH WALES Australian Catholic University Australian Institute of Higher Education Avondale College Charles Sturt University Kings Own Institute Macquarie University Southern Cross University Top Education Institute The University of New England The University of New South Wales The University of Newcastle The University of Sydney University of Technology, Sydney University of Western Sydney University of Wollongong Williams Business College NORTHERN TERRITORY Charles Darwin University QUEENSLAND Australian Catholic University Bond University Central Queensland University Christian Heritage College Griffith University James Cook University Queensland University of Technology The University of Queensland The University of Southern Queensland University of the Sunshine Coast SOUTH AUSTRALIA Flinders University Kaplan Business School The University of Adelaide University of South Australia Open Universities (conferred by Uni of SA) TASMANIA University of Tasmania VICTORIA Australian Catholic University Cambridge International College Carrick Higher Education Deakin University Holmes Institute Holmesglen Institute of TAFE La Trobe University Melbourne Institute of Technology Monash University Northern Melbourne Institute of TAFE RMIT...
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