...Measuring Economic Health Memo Christina Roddey ECO/212 June 13, 2011 Luis Torres Introduction When it comes to measuring economic health, there are important things to remember. Gross Domestic Product (GDP) is primary used to measure the economy’s health. Fiscal policies are organized by the government to figure out what caused the unhealthy changes in the economy. The Use of Gross Domestic Product Gross Domestic Product (GDP) is a measure of the gross national output; it’s a cumulative of all the consumption of the all the consumption of the all households in an economy. The consumption or spending by the government into different economic welfare activities such as education, healthcare, welfare and military, private domestic investments in way of new projects and buying capital goods and a net current account balances. The business cycle is the growing and shrinking of the economy. When measuring a business cycle, it changes in real GDP which focus on the changes in output. There are four parts of the business cycle which are – peak, contraction, trough, and expansion. Information has to be collected after a certain time frame is completed, in which, the business cycles are next translated between the changing periods of economic recession or economic expansion. Roles of Government Bodies National fiscal policies are arranged by the President and Congress. They have steps that helps determine the policies. First, the U.S. Government Accountability...
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...1 Measuring Economic Health Memo Felicia Tate-Harris ECO/212 – Week Four 3/21/2012 ------------------------------------------------- Rana Hashemi Haeri MEMORANDUM TO: Rana Hashemi Haeri FROM: Felicia Tate-Harris DATE: March 21, 2012 RE: Measuring Economic Health Gross Domestic Product (GDP) Economic growth is measured in terms of an increase in the size of a nation's economy. A broad measure of an economy's size is its output. The most widely-used measure of economic output is the Gross Domestic Product (GDP). GDP generally is defined as the market value of the goods and services produced by a country. One way to calculate a nation's GDP is to sum all expenditures in the country. This method is known as the expenditure approach and is described below. 2 There are four government bodies that are involved in the national fiscal policies: * Department of Treasury - The Department of Treasury is the main body that will manage and design the fiscal policy. * Office of management and budget - The office of management and budget, is the section of the government that will develop and analyze fiscal policy. * Office of the president - The office of the president has an input on the decision making regarding the fiscal policy. * Government accountability - There is a government accountability office that will audit the fiscal policy. The Effects of Fiscal Policies on the economy’s Production and Employment: A good fiscal policy means having...
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...Memo To: Kunsoo Paul Choi, Ph.D. From: Lola Rodriguez Date: 5/22/2012 Re: Measuring Economic Health GDP and Measuring the Business Cycle Gross domestic product (GDP) is defined as one of the main indicators that economists use to measure the economy of a country (Hubbard & O’Brien, 2010). The GDP represents the total dollar value of all services and goods that a country produces over a particular period of time. Although it is used to gauge an economy’s health, it cannot be viewed as the size of the same economy as there are other factors that must be considered. Economists use GDP to compare the previous fiscal period with the current one. As an example, if the GDP for this quarter is up by 2%, then this means that the economy has grown by that percentage over the last quarter. An increase in the GDP signifies economic growth, a decrease means that the country is in a recession. Roles of Government Bodies that Determine National Fiscal Policies There are four sections of government in the United States that are involved in determining national fiscal policies. They are: the Department of Treasury, the Office of Management and Budget, the Office of Government Accountability, and the Office of the President (Hubbard & O’Brien, 2010). The Department of Treasury designs and manages the fiscal policy. This office determines what the budget is, what monies need to be spent, and what the country’s income is. This body of government is also responsible for implementing...
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...Measuring Economic Health Memo ECO/212 As you may already know, GDP stands for Gross Domestic Product. GDP refers to the market value of all final goods and services produced in a country during a period of time, usually one year. When someone refers to the business cycle, he or she is referring to the alternating periods of expansion and recession of the economy. GDP is the most significant method used to gauge the state of the economy measuring total production and total income. When GDP is measured, a dollar amount of all goods and services is calculated to eliminate confusion. If the quantity of all goods and services were just measured, then the result would misinterpret the findings. GDP is an important tool to analyze total income a household or firm spends on particular items, giving insight into the state of the economy. By measuring GDP, the government can examine where money goes; is it being deposited, is the money being spent on taxes, or is it being invested into stocks and bonds. The flow of money from households into the financial system make it possible for firms to borrow, which is crucial to any economy. GDP measures the business cycle as well as it can, but cannot be the only determining factor; inflation and unemployment play vital roles as well. The term Fiscal Policy refers to changes in federal taxes and purchases that are intended to achieve macroeconomic objectives. Fiscal Policy is the government’s way of offsetting times of instability in the business...
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...| Rescare Homecare | Memo To: Kristin No’name From: Amber CC: Ryan No’name Date: [ 12/7/2010 ] Re: Measuring Economic Health I am writing the two of you in response to the questions you have. This memo should give you all the information that you need. If I do not cover it all, please get back to me at your earliest convenience and I will do my best to answer the rest. Gross Domestic Product (GDP) is the yearly output of goods in a country. In regard to the business cycle, the current years GDP is compared to previous years to determine a trend and to possibly predict future outcomes or to just see how an economy is doing. When the GDP rises, then there is growth in the economy. If the GDP is falling, then there is a slump in the economy. If the GDP falls to the point of creating hardships for businesses then the economy is considered to be in a recession. If the GDP rises close to the maximum point, then the economy is considered to be booming. There are four major government bodies that determine national fiscal policies. They are the department of treasury, government accountability office, office of management and budget, and the office of the president of the United States. The treasury department handles, creates, and applies the fiscal policy. The government accountability office is in charge of audits. The office of management and budget deals with the improvement and study of fiscal policy and the office of the United States president is the decision...
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...Memo |To: |Juan Carlos Ginarte | |From: |Takisha Gause | |Date: |6/7/2010 | |Subject: |Measuring Economic Health | Economic health can be comprehended by knowing the significance of gross domestic products, fiscal policies, the effect of fiscal policies on the economy, and how the modifications in government spending and taxes influence the market assembly of employment. GDP to Measure Business Cycle In economics the term business cycle is used to refer to the cyclical fluctuations in gross domestic product (GDP). GDP is a monetary measure of the economy’s production, valued using the prices from a selected base year (Rummery, 2002). When there is a increase in GDP it expands the business cycle, which allots them a stage of development. When there is a reduction in GDP its business cycle can experience a cycle of recession. A business cycle has four phases; expansion, peak, recession, and trough. Each stage is of an uncertain span of time, varying from weeks to years (Rummery, 2002). However, when looking at historical data, the economy...
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...Measuring Economic Health Memo xxxxxxxxx Eco 212 July xx, 2010 Xxxxxxxxxx In the next few paragraphs I will briefly examine how GDP (gross domestic product) is used to measure the business cycle, the roles of government bodies that determine national fiscal policy, and explain the effects of fiscal policies on the economy. Gross Domestic Policy and the Business Cycle GDP (gross domestic product) is the best indicator of where the economy is in the business cycle; “because GDP is our best measure of economic activity, the business cycle is usually illustrated using movements in GDP” (Hubbard & O'Brien, 2010, p. 691). The business cycle has four phases; expansion, peak, recession, and trough. An increase in economic activity indicates the economy is in the expansion phase of the business cycle. A decrease in economic activity indicates the economy is in recession. When the economy stops growing and start shrinking the economy is in the peak phase of the business cycle. When the economy stops shrinking and starts growing the economy is in the trough phase of the business cycle. The following image shows the business cycle phases. Fiscal Policy and its Effects on the Economy The Congress and The President of the United States of America determine national fiscal policy. Congress has the authority to tax. The President creates the federal budget each year but the Congress modifies and votes on the budget. Through its different bureaus, offices...
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...Marketing Management 14 PHILIP KOTLER Northwestern University KEVIN LANE KELLER Dartmouth College Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Editor in Chief: Eric Svendsen Executive Editor: Melissa Sabella Development Editor: Elisa Adams Director of Editorial Services: Ashley Santora Editorial Project Manager: Kierra Bloom Editorial Assistant: Elizabeth Scarpa Director of Marketing: Patrice Lumuba Jones Senior Marketing Manager: Anne Fahlgren Senior Managing Editor: Judy Leale Production Project Manager: Ann Pulido Senior Operations Supervisor: Arnold Vila Creative Director: John Christiano Senior Art Director: Blair Brown Text and Cover Designer: Blair Brown Lead Media Project Manager: Lisa Rinaldi Editorial Media Project Manager: Denise Vaughn Full-Service Project Management: Sharon Anderson/BookMasters, Inc. Composition: Integra Printer/Binder: Courier/Kendallville Cover Printer: Lehigh-Phoenix Color/Hagerstown Text Font: 9.5/11.5, Minion Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Copyright © 2012, 2009, 2006, 2003, 2000 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All...
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...Code |Subject Title |Marks |Credit | | |Business Communication and Report Writing (In English) |100 |4 | | |Computer and Information Technology |100 |4 | | |Taxation in Bangladesh |100 |4 | | |Business Statistics (In English) |100 |4 | | |Macro Economics |100 |4 | | |Human Resource Management |100 |4 | | |Viva-Voce |100 |4 | | |Total = |700 |28 | |Course Code | |Marks: 100 |Credits: 4 | Class Hours: 60 | |Course Title |BUSINESS COMMUNICATION AND REPORT WRITING (In...
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... | | |ECO/212 (3 Credits) Version 6 | | |Principles of Economics | | |03/01/2012 - 03/29/2012 | | |PUERTO RICO CAMPUS | Copyright © 2009, 2008, 2006, 2004 by University of Phoenix. All rights reserved. Course Description This course introduces the fundamental theories of microeconomics and macroeconomics. The economic principles studied in this course apply to everyday life as students research an industry, debate issues with trade agreements, discuss the effects of a shift in labor supply and demand, and discuss the strengths and weaknesses of the Consumer Price Index calculation. In particular, students research an industry affected by the economy and perform an economic analysis of the chosen industry. Policies Faculty and 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...
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...19th century, Finance was a part of the Economics. But due to the globalization and more expansion of international trade, Finance plays the major role for the economic development. The development of a modern economy would not have been possible without the use of money. Bank is an important and essential financial institution for the necessity of the use of money and the protection of the money. Bangladesh is now integral part of global market. As such there is an urgent requirement for Bangladesh to place the traditional banking pretties in harness with the global trades of a free market economy by following international Banking customs, practices and standards. Today clients of a bank in Bangladesh are exposed as well as interNational markets. They have to stay update with their practice and standards to meet the demands of achieving harmony in the high standards of a free economy. Rationale of the Study: Now a days banking sector have built up as the most important player of the economy. Economists have observed that loan is of the most important aspects of economic activity because of its great role in establishing various projects that generates production and thus generating employment. The only important aspect of loan is economic and social development in addition to achieving a suitable profit margin. Islamic banks consider loan as the basic motivation for community development and a means to get rid of social and economic problems through employment and operation...
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...Unemployment Economists try to determine the health of economies by monitoring data sets, statistics and indices. Economic data, which are permanently released by the government and statisticians, are a helpful tool to assess the current stage of an economy (e.g., recession, depression). The national unemployment rate, which is released monthly by the Bureau of Labor, is one of the most important economic indicators. This memo will focus on the different types of unemployment, the ways to measure unemployment, the unemployment data itself, and policies that are used to target unemployment. The different forms of unemployment Although unemployment as a concept has a negative connotation, there are three types of unemployment, which differ in terms of their impact on the economy. The first type, frictional unemployment, is the least severe kind of unemployment. According to the website Investopedia.com, frictional unemployment “is always present in the economy, resulting from temporary transitions made by workers and employees or from workers and employers having inconsistent or incomplete information” (“Frictional Unemployment”). Clearly, no tall job seekers have the tools to find the right company. Even people who can access job offers online might not be able to find the right position. However, employers face the same problems. For example, a company might have an open position for a bilingual administrative assistant, but hiring managers may not have the right...
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...a supplier, are able to measure a company's financial healthiness by reviewing its operating data and informational assumptions used in preparing projected financial statements. The function of financial analysis is to provide a corporation's top leadership with information to examine financial statements for many purposes, such as its financial standing and company profitability based on annual reports. “Accurately and honestly communicating your company's strengths and weaknesses will help convince investors to throw their money behind your business.” (Vrouvas, 1999-2011) Having a financial analysis report, CanGo, Inc. will be able to compare costs and benefits that translate into real dollar amounts, as opposed to annotating over economic tests. By openly admitting threats to the company's well-being, professional market-watchers are likely to...
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...successful. A career management plan is an important piece to an employee’s growth and development preparation throughout his or her career. This plan will permit an individual on how to reach their goals and know where they want to be. Due to the fact that InterClean has completed the training and mentoring program, a “Performance and Career Management” plan will be implemented. This program will assist the employees and the organization to achieve their set goals. This plan will enable each employee aware of his or her strengths and weakness, toward improving and achieving the goal of the organization. • Performance Evaluation Employees will be evaluated annually using the appraisal form. Feedback will be given by measuring the employee’s performance against standards set through the job analysis and the organizational goals. Employees can reach a higher level of performance through the use of the appraisal because the evaluation can identify clear links between the performance...
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...CHAPTER 20 Accounting for Pensions and Postretirement Benefits ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Questions Brief Exercises Exercises 16 Problems Concepts for Analysis 1, 2, 3, 4, 5, 7 1, 2, 7, 8, 9 1, 2, 3, 4, 5, 6, 9 4, 5 Basic definitions and 1, 2, 3, 4, 5, concepts related to pension 6, 7, 8, 9, 13, plans. 14, 24 Worksheet preparation. Income statement recognition, computation of pension expense. Balance sheet recognition, computation of pension expense. Minimum liability computation. Corridor calculation. Reconciliation schedule. Prior service cost. 10, 11, 12, 14, 17, 18 3 1, 4 2. 3. 3, 4, 7, 10, 15 1, 2, 3, 6, 12, 13, 14, 15, 16, 17, 20, 21 4. 16, 20, 21, 22, 23 20, 22 2 3, 9, 11, 13, 1, 2, 3, 4, 5, 2, 5, 7 14, 15, 17, 6, 7, 8, 9 18, 19 11, 12, 13, 14, 16, 17, 18, 19 8, 14, 20, 21 3, 4, 5, 6, 7, 8 2, 3, 5, 6, 7, 8, 9 2, 4, 5 5. 8, 9, 10 6. 7. 8. 19 25 13, 14, 21, 23 7 6 5, 8, 9, 10 3, 4, 5, 6 3, 9, 10, 14, 1, 2, 3, 15, 19 6, 8, 9 1, 2, 3, 5, 9, 11, 12, 13, 14, 15, 18, 19, 21 1, 2, 3, 4, 5, 6, 7, 8, 9 1, 4 9. 10. Unrecognized net gain or loss. Disclosure issues. 15 25 26 27, 28, 29, 30 7 8, 9, 14, 15, 1, 2, 3, 5, 19, 20, 21 6, 7, 8, 9 9, 12, 13 4, 5, 6 3, 4 *11. Special Issues. *12. Postretirement benefits. 11, 12 22, 23, 24, 25 10 *This material is dealt with in an Appendix to the chapter. 20-1 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives...
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