SOCIAL AND ETHICAL, ECONOMIC, AND INTERNATIONAL ENVIRONMENT OF BUSINESS NAME: MOD. DATE GIVEN: DATE DUE:
|
|
- Samson Hardy
- 6 years ago
- Views:
Transcription
1 CHAPTER SOCIAL AND ETHICAL, ECONOMIC, AND INTERNATIONAL ENVIRONMENT OF BUSINESS OBJECTIVES : Explain the social, ethical, economic, and international problems we must encounter and define solutions for as well as attack environmental issues facing us. NBEA STANDARDS: I. Management Functions: Analyze the management functions and their implementation and integration within the business environment. II. Management Theories: Analyze management theories and their application within the business environment. III. Business Organization: Analyze the organization of a business. NAME: MOD. DATE GIVEN: DATE DUE: GROWTH HISPANIC WORKPLACE CHANGES MUSLIMS BABY BOOMERS BABY BUSTERS CHAPTER 2 How fact is the U.S. population growing per year? What is the estimated Hispanic population by 2050? people or % of the U.S. population. What changes are visible in business practices? 1)Increase in. examples: 2)Increasing number of. 3)Increase in number of. 4) will be a minority if growth among / continues. What are some accommodations that have been made in the workplace for the growing number of Muslims in America? (estimates of million. 1)_ 2)_ 3 Aging post-war generation that accounts for 30% of the U.S. population. Baby busters are called this because of the decline in the birth rates and account for 13% of the U.S. population Why is the chart signification with regard to retirement of boomers and social security? ETHNIC CHANGES 1) is not a required language. 2)Newspapers and magazines publish editions. 3)TV stations are now in. 4) turn attention to for election. TRANSIENT. Every year, out of every households will change their address. Partly due to such as.
2 LABOR FORCE LABOR PARTICIPATION RATE POVERTY DECREASING POVERTY TITLE VII GLASS CEILING STICKY FLOOR SYNDROME COMPARABLE WORTH defined as people age or over who are for work, whether or Labor force as of January 2009 defined as of the labor force either or employment Labor participation rate as of January 2009 WHY DO YOU THINK THE WOMEN IN WORK FORCE CONTINUES TO GROW? Poverty in the U.S. accounts for 12-17% living below the federal guidelines of $24,200 for a family of four. What are some federal policies in place to decrease poverty. define Title VII of the Civil Rights Act of defined as: defined as: defined as: Is it necessary to have identical job requirements? WHAT DO YOU THINK IS THE ISSUE FOR ? CURRENT TRENDS In an effort to produce more and keep costs down, demands on workers has increased. 1) to meet job requirements, 2) Increase in ; 3) increase in. This in turn has created a hostile working environment with increased stress, few vacations, workplace romances, increase in drugs, violence. SOCIAL defined as: RESPONSIBILITY STAKEHOLDER defined as:
3 ECONOMIC SYSTEMS 1)MARKET ECONOMY CHAPTER 3 way for a county to decide how to use its. THREE TYPES OF ECONOMIC SYSTEMS: and decide,, and goods will be produced. Free enterprise system based on and Characteristics: 1) 2) Country with Market Economy: 2)COMMAND ECONOMY decides what, how, and for whom goods will be produced. Characteristic: Country with Command Economy: 3)MIXED ECONOMY PRIVATIZATION 1)CAPITALISM who, what, and how decisions are made by and while others are made by. Do most countries have a mixed economy? because example: U.S. government controls. When a country or state ex: Should health care by privatized or government run? Should there be universal health care? Should the post office be privatized? U.S. postal service for first quarter (October 1 - December 31, 2008) with a $384 million loss. Considering raising cost of stamps, cutting deliveries to five days a week; reduction in workforce through attrition/retirement. TYPES OF ECONOMIC-POLITICAL SYSTEMS country: are free to go into business for themselves to produce. Types of government intervention: 2) SOCIALISM country. controls and regulates means of production. 3) COMMUNISM country where all or almost all productive resources of nation are. in short supply because government needs are taken care of first.
4 CAPITALISM 1) Right to FUNDAMENTALS 2) Right to Formula for profit? 3) Right to DEMAND : SUPPLY COMPETITION IF SUPPLY OUTPACES DEMAND, WHAT HAPPENS TO PRICE? IF DEMAND OUTPACES SUPPLY, WHAT HAPPENS TO PRICE? MARKET PRICE defined as: COMPETITION PRICE COMPETITION NONPRICE COMPETITION MONOPOLY INCOME DISTRIBUTION ECONOMIC GROWTH 1)CPI insures what four things: 1) 2) 3) 4) Motive behind all business is profit. Firm takes business away from its competition by. Attracting customers away from its competitors by providing. is lacking for a or. or controls supply and price of goods or services. Share of an individual receives is determined by the amount of that person has to purchase goods and services. Country s exceeds. Ways to increase economic growth? 1)Increase number of people in 2)Increase of work force 3)Increase supply of 4)Improve 5)Improve 6)Increase sale of goods and services to 7)Decrease of foreign goods and services. MEASURING ECONOMIC GROWTH which measures change in or bought by people at level.
5 2)GDP measures how things are going at. How many quarters of negative growth to declare a recession? 3)INDEX OF LEADING Outlook of strength for next ECONOMIC INDICATORS Based on and events. 4)EMPLOYMENT 5)RETAIL SALES 6)PERSONAL INCOME CONSUMPTION 1)RECESSION 2)INFLATION 3)DEFLATION Measure of. Amount of and sold by stores within various regions of the country. Consumer spending or bigger. ECONOMIC PROBLEMS High, low Rising because in production of new goods. production to get in line with. GDP growth for or more quarters. Demand, supply for goods/services Decline in - costs higher Wages go to keep up with. Decrease in general level of. Occurs during or Wages, Overtime, prices of goods. Consumer has spendable money 4) DEPRESSION Deepened. Prolonged period of unemployment, sales of goods and services, and business. drop in GDP. BUSINESS CYCLE PRODUCT CYCLE EXPLANSION/INTRODUCTION PEAK/GROWTH CONTRACTION/MATURITY TOUGH/DECLINE
6 CHAPTER 4 INTERNATIONAL BUSINESS Business activity that occurs between. Reasons for entering international trade: MULTINATIONAL FIRM Businesses that or production or service facilities the country in which based. ex: HOME COUNTRY PARENT COMPANY HOST COUNTRY SUBSIDIARIES COMPARATIVE ADVANTAGE EXPORT EXPORTING IMPORTS IMPORTING BALANCE OF TRADE DEFICIT BALANCE OF TRADE SURPLUS Country that multinational corporation. ex: Business that and operations of another by ownership or controlling a. ex: country hosting multinational corporation. Decisions must be made in terms of host country ex: of a company that operates under the control of a which may have majority of. Country should in of goods and services for that they can produce more than any other country based upon which it can access and use most. ex: Goods we and send. When a country sells its goods and services. Goods from that are sent. goods and services made in a. More money country than. More money country than.
7 BALANCE OF TRADE Total and of goods and services as well as in and out of a country. How is it determined? Using chart in PP, goods exported in November 2008: Goods imported in November 2008 Trade surplus or trade deficit? Why? INTERNATIONAL TRADE TERMS FREE TRADE TARIFF NON-TARIFF BARRIERS QUOTAS DUMPING EMBARGO SANCTIONS Trade between countries which takes place completely. on goods to protect or. ex: Trade barriers that restrict but in the form of and. If product does not meet given requirements, it will face. on or of goods permitted to enter a country to protect. ex: Selling goods on a market at prices what it charges its. trade with a country-- or from these countries. ex: Lighter form of embargo--used to keep goods out that can create while still allowing goods such as that are needed by general population. country examples: INTERNATIONAL AGREEMENTS TREATIES WTO IMF Business reached or. World Trade Organization replaced as worlds global body in Purpose: 1)Encourages among states by and tariffs on traded goods; 2) Provides a framework for between countries; 3) Governs ; 4) Most leading nations belong. Membership: countries. set up to help countries with and to replay loans or pay imports
8 WORLD BANK TRADING BLOCS CAREERS Contributed to by most countries of the world (180.) Role is to reduce by lending money to the governments of developing countries and to countries with economies in transition. Bank loans are to help increase and to improve for people in these developing countries. PTA favor trade among nations and ensure economic growth and benefit of participating countries. Account for what percent of world trade? List the five main trading blocs: Why would a parent company send American employees/managers over to a host country to work in one of its subsidiaries instead of hiring foreign? 1) 2) 3) What kinds of problems arise from sending Americans abroad to run foreign companies? 1) 2) 3) 4) FOREIGN NATIONALS Individuals who are citizen of. Hired because: 1)Offer higher degree of 2)Have 3)Experience in or knowledge of a foreign country in which U.s. may have 4)Used to fill in oversees companies. Trained here, returned home.
SOCIAL, ETHICAL, ECONOMIC, AND INTERNATIONAL ENVIRONMENT OF BUSINESS Chapters 2-3-4
SOCIAL, ETHICAL, ECONOMIC, AND INTERNATIONAL ENVIRONMENT OF BUSINESS Chapters 2-3-4 U.S. 305,704,154 World 6,756,907,578 01:56 GMT (EST+5) Jan 29, 2009 Other companies have also revised their policies
More informationWHAT S AHEAD 17.1 The Nature of International Trade 17.2 U.S. Economy and World Trade 17.3 Government and the Economy 17.4 It s a Global Economy
WHAT S AHEAD 17.1 The Nature of International Trade 17.2 U.S. Economy and World Trade 17.3 Government and the Economy 17.4 It s a Global Economy LESSON 17.1 The Nature of International Trade GOALS Discuss
More informationEconomics Chapters Duke Unit III Measuring Economic Performance
Economics Chapters 12-16 Duke Unit III Measuring Economic Performance Chapter 12 Section 1 (Pgs. 301-308) Gross Domestic Product (GDP)- 1. What is the difference between final goods and services as opposed
More informationGeorgia Standards of Excellence Economics 2016
A Correlation of 2016 To the Georgia Standards of Excellence Economics 2016 FORMAT FOR CORRELATION TO THE GEORGIA STANDARDS OF EXCELLENCE (GSE) GRADES K-12 SOCIAL STUDIES AND SCIENCE Subject Area: Economics
More informationCouncil for Economic Education
Council for Economic Education Council for Economic Education Teaching Opportunity The Council for Economic Education (CEE) is an organization dedicated to promoting financial and economic literacy. CEE
More informationAQA Economics A-level
AQA Economics A-level Macroeconomics Topic 6: The International Economy 6.2 Trade Notes The distinction between absolute and comparative advantage A country has absolute advantage in the production of
More informationCourse Economics and Business Management Prof. Dr. Marius Dannenberg. Chapter 3 Markets and Government in the Global Economy
Course Economics and Business Management Prof. Dr. Marius Dannenberg Chapter 3 Markets and Government in the Global Economy Syllabus: Economics and Business Management Chapter 1 Introduction Understanding
More informationEveryday Finance: Economics, Personal Money Management, and Entrepreneurship
Everyday Finance: Economics, Personal Money Management, and Entrepreneurship VOLUME 2 GALE CENGAGE Learning- Detroit New York San Francisco New Haven, Conn Waterville, Maine London VOLUME 1 Reader's Guide
More informationOCR Economics A-level
OCR Economics A-level Macroeconomics Topic 4: The Global Context 4.5 Trade policies and negotiations Notes Different methods of protectionism Protectionism is the act of guarding a country s industries
More informationCHAPTER 4. Competing in World Markets
Chapter Summary: Key Concepts Why Nations Trade CHAPTER 4 Competing in World Markets Importing/exporting International sources of factors of production Size of the international marketplace Major world
More information9707/1,2 Business Studies Unit 1: Business & Environment A Levels
9707/1,2 Business Studies : Business & Environment BUSINESS ORGANIZATIONS MARKET ECONOMIES QUICK TIPS PLANNED ECONOMY / COMMAND - all major assets are owned by government - state ownership - prices are
More informationECONOMICS EXAMINATION OBJECTIVES
ECONOMICS EXAMINATION OBJECTIVES The following objectives of the examination are to test whether the candidates have acquired a basic understanding of economics with special emphasis on Hong Kong conditions
More informationEssential Standard1.00. Understand the role of business in the global economy.
Essential Standard1.00 Understand the role of business in the global economy. 1 Objective 1.03 Understand business in the global marketplace. 2 Topics Factors and regulations companies have to consider
More informationThe Canadian Economy. Chapter 3: The Canadian Economy in a Global Setting. The Canadian Economy. The Canadian Economy. The Canadian Economy
The Canadian Economy Chapter 3: The Canadian Economy in a Global Setting The Canadian economy is divided into three groups: business, households, and government. Prepared by: Kevin Richter, Douglas College
More informationBusiness in the Global Economy
SLIDE 1 C H A P T E R 3 Business in the Global Economy 3-1 International Business Basics 3-2 The Global Marketplace 3-3 International Business Organizations 3-1 International Business Basics Goal 1 Describe
More informationTest 3: April 4, Multiple Choice 30 points (1 each) Select the best answer for each question. Answer the questions on the Scantron sheet.
Test 3: April 4, 2002 Multiple Choice 30 points (1 each) Select the best answer for each question. Answer the questions on the Scantron sheet. 1. Suzanne, a Canadian resident, purchases stock in a Thai
More informationINTERNATIONAL TRADE UNIT 7. Chapter 24. International Trade. Gavin Duffy
Chapter 24 International Trade (Exports and Imports - Visible and Invisible; Balance of Trade/Balance of Payments; Why Countries Trade; Barriers to Trade; Opportunities & Challenges in changing economy;
More informationObjectives of Macroeconomics ECO403
Objectives of Macroeconomics ECO403 http//vustudents.ning.com Actual budget The amount spent by the Federal government (to purchase goods and services and for transfer payments) less the amount of tax
More informationMACROECONOMICS. The Science of Macroeconomics. N. Gregory Mankiw. PowerPoint Slides by Ron Cronovich. Modified for EC 204 by Bob Murphy
1 MACROECONOMICS N. Gregory Mankiw Modified for EC 204 by Bob Murphy PowerPoint Slides by Ron Cronovich 2013 Worth Publishers, all rights reserved IN THIS CHAPTER, YOU WILL LEARN:! about the issues macroeconomists
More informationEconomics Online Instructional Materials Correlation to the 2009 Economics and Personal Finance Standards of Learning and Curriculum Framework
and Curriculum Framework Provider York County School Division Course Syllabus URL http://yorkcountyschools.org/virtuallearning/coursecatalog.aspx Course Title Economics & Personal Finace Last Updated 2010-11
More informationChapter 4. global analysis. Section 4.1 International Trade. Section 4.2 The Global Marketplace
Chapter 4 global analysis Section 4.1 Section 4.2 Section 4.1 CONNECT What international products do you consume? Section 4.1 Describe the benefits of international trade. Discuss the balance of trade.
More informationEconomics Glossary of Terms
Economics Glossary of Terms (for use with the crossword puzzle) asset anything of value owned by an individual or a corporation (i.e. cash, buildings, machinery, land, raw materials, etc.) balance of payments
More informationGrade 12 Social Studies: Economics, the Enterprise System, and Finance
Grade 12 Social Studies: Economics, the Enterprise System, and Finance NYS Learning/Core Standards Content (What needs to be taught?) Curriculum Materials Used (All) Assessments Used (Daily/Weekly/Benchmarks)/
More informationChapter 1. Exploring the World of Business and Economics
Chapter 1 Exploring the World of Business and Economics Free Enterprise the system of business in which individuals are free to decide what to produce, how to produce it, and at what price to sell it.
More informationWJEC (Eduqas) Economics A-level Trade Development
WJEC (Eduqas) Economics A-level Trade Development Topic 1: Global Economics 1.2 Free trade and protectionism Notes The benefits and costs of free trade Free trade is the act of trading between nations
More informationEconomies of South Africa & Nigeria
Economies of South Africa & Nigeria Essential Question How do the African economies of South Africa and Nigeria compare and contrast? Economic Systems A way a society organizes the production, distribution,
More information4. Problems and Threats to the Development of Thai Economy
4. Problems and Threats to the Development of Thai Economy 4.1 Problems and Effects of Inflation Inflation occurs when the average price of goods increases. The price of goods changes in the opposite direction
More informationThe Science of Macroeconomics
1 The Science of Macroeconomics Inflation CHAPTER 5 Modified by Ming Yi 2016 Worth Publishers, all rights reserved 0 IN THIS CHAPTER, YOU WILL LEARN: About the issues macroeconomists study About the tools
More informationEconomics 2002 HIGHER SCHOOL CERTIFICATE EXAMINATION. Total marks 100. Section I. Pages 2 8
2002 HIGHER SCHOOL CERTIFICATE EXAMINATION Economics Total marks 100 Section I Pages 2 8 General Instructions Reading time 5 minutes Working time 3 hours Write using black or blue pen Board-approved calculators
More informationAP Gov Chapter 17 Outline
A major economic policy issue is how to maintain stable economic growth without falling into either excessive unemployment or inflation (rising prices). Key concept: Inflation, a sustained rise in the
More information3) The more developed a country is, the scarcer the availability of economic data. Answer: FALSE AACSB: Analytical thinking Difficulty: Easy
Global Marketing Management, 8e (Keegan) Chapter 2 The Global Economic Environment 1) The macro dimensions of the environment are economic, social and cultural, political and legal, and technological.
More informationPrinciples of Macroeconomics
Principles of Macroeconomics 978-1-63545-094-1 To learn more about all our offerings Visit Knewton.com Source Author(s) (Text or Video) Title(s) Link (where applicable) OpenStax Senior Contributing Authors:
More informationEconomics. The Factors of Production. Factor Explanation Payment for its use. Economic Systems. Free Enterprise Centrally-planned Mixed Economy
Needs: Items that an individual needs to survive e.g. food, shelter, clothing. Wants: Items that an individual desires but does not necessarily need e.g. TV, big house. Economics: The study of how scarce
More informationBuchholz, Todd. New Ideas From Dead Economists. New York: Plame, 1999
AP MACROECONOMICS COURSE SYLLABUS AP Macroeconomics is a one semester college level course. The AP Macroeconomics course is designed as an initial college level course in macroeconomics and as a foundation
More informationMACROECONOMICS - CLUTCH CH INTRODUCING ECONOMIC CONCEPTS.
!! www.clutchprep.com CONCEPT: INTRODUCING MACROECONOMIC CONCEPTS BUSINESS CYCLE Business Cycles describe the increases and decreases in economic activity that occur over periods of several years Employment
More informationEconomics Challenge International Practice Test If the general level of prices in the United States increases relative to prices in Japan,
For each of the following questions, select the choice that BEST corresponds with the answer. You will receive 10 points for each correct answer; 5 points will be deducted for each incorrect answer. Points
More informationCHAPTER 28: THE AGGREGATE EXPENDITURES MODEL
CHAPTER 28: THE AGGREGATE EXPENDITURES MODEL Introduction Now that you have a basic understanding of how changes in disposable income, investment, and decisions about consumption and saving affect real
More informationEconomic Fundamentals
CHAPTER 5 Economic Fundamentals INTRODUCTION Economics, put simply, is the study of shortages supply vs. demand. As the demand for a product or service rises, the price of those goods or services will
More informationIn this chapter, you will explore business-government trade relations. You will also: Examine the political, economic, and cultural reasons why
In this chapter, you will explore business-government trade relations. You will also: Examine the political, economic, and cultural reasons why governments intervene in trade. Learn about the instruments
More informationChapter 3. political and economic analysis. Section 3.1 What Is an Economy? Section 3.2 Understanding the Economy
Chapter 3 political and economic analysis Section 3.1 What Is an Economy? Section 3.2 Understanding the Economy Section 3.1 What Is an Economy? CONNECT How do economic decisions and policies affect your
More informationThe Macroeconomic Theory of the Open Economy: Chapter 13 Continued Net Capital Outflow: The Link between the two markets
The Macroeconomic Theory of the Open Economy: Chapter 13 Continued In an open economy: o National saving o Domestic investment o Net foreign investment (NCO) o The exchange rate o Net exports (NX) Are
More information1.3 Prices, Supply, and Demand Compare how supply, demand, price, equilibrium, elasticity, and incentives affect the workings of a market.
Michigan STATE STANDARD OR BENCHMARK: CORRELATES WITH: E1 The Market Economy Social Studies K-12: Economics 1.1 Individual, Business, and Government Choices Explain and demonstrate how economic organizations
More informationECON 1010 Principles of Macroeconomics. Solutions to the Final Exam. Professor: David Aadland. Spring Semester 2017.
ECON 1010 Principles of Macroeconomics Solutions to the Final Exam Professor: David Aadland Spring Semester 2017 May 11 th, 2017 Section 1: Multiple Choice and T/F (120 pts). Circle the correct answer;
More informationTopic 2 Types of Organisations. Higher Business Management
Topic 2 Types of Organisations Higher Business Management 1 Learning Intentions / Success Criteria Learning Intentions Types of organisations Success Criteria Learners should be aware of the structure
More informationWJEC (Wales) Economics A-level Trade Development
WJEC (Wales) Economics A-level Trade Development Topic 1: Global Economics 1.1 International trade Notes International trade This is the exchange of goods and services across international borders. The
More information4.3.1 What are the causes and effects of globalisation?
Economics Unit 4 Revision Guide 4.3.1 What are the causes and effects of globalisation? Definition of globalisation (from Peter Jay): The ability to produce any goods (or service) anywhere in the world,
More informationMacroeconomics: Principles, Applications, and Tools
Macroeconomics: Principles, Applications, and Tools NINTH EDITION Chapter 18 International Trade and Public Policy Learning Objectives 18.1 Explain carefully the terms comparative advantage and terms of
More informationEconomics Unit 3 Summary
SSEMA1 Illustrate the means by which economic activity is measured. Economic activity derives from the sectors of the economy explored in the fundamentals and microeconomics units. Individuals, businesses,
More informationChapter 17:2 Trade Barriers and Agreements
Chapter 17:2 Trade Barriers and Agreements Pro_23:26 My son, give me thine heart, and let thine eyes observe my ways. Eze_36:26 A new heart also will I give you, and a new spirit will I put within you:
More informationGlossary of economic terms
Glossary of economic terms Administrative regulations: regulations imposed by the government of a country to regulate trade, usually applied to imports, e.g. insisting upon imports meeting minimum standards.
More informationEdexcel (B) Economics A-level
Edexcel (B) Economics A-level Theme 2: The Wider Economic Environment 2.5 The Economic Cycle 2.5.2 Circular flow of income, expenditure and output Notes The circular flow of income Firms and households
More informationMacroeconomics
Macroeconomics 978-1-63545-006-4 To learn more about all our offerings Visit Knewtonalta.com Source Author(s) (Text or Video) Title(s) Link (where applicable) OpenStax Senior Contributing Authors: Steve
More informationChapter Seventeen: Economic Policy
1 Chapter Seventeen: Economic Policy Learning Objectives 2 Define and use correctly a series of basic terms used in discussions of economic policy, including inflation, unemployment, the business cycle,
More informationM14/3/ECONO/HP3/ENG/TZ0/XX/M MARKSCHEME. May 2014 ECONOMICS. Higher Level. Paper pages
M14/3/ECONO/HP3/ENG/TZ0/XX/M MARKSCHEME May 2014 ECONOMICS Higher Paper 3 16 pages 2 M14/3/ECONO/HP3/ENG/TZ0/XX/M This markscheme is confidential and for the exclusive use of examiners in this examination
More informationAggregate Demand and Aggregate Supply
Aggregate Demand and Aggregate Supply Chapter 19 Copyright 2001 by Harcourt, Inc. All rights reserved. Requests for permission to make copies of any part of the work should be mailed to: Permissions Department,
More informationEC and MIDTERM EXAM I. March 26, 2015
EC102.03 and 102.05 Spring 2015 Instructions: MIDTERM EXAM I March 26, 2015 NAME: ID #: You have 80 minutes to complete the exam. There will be no extensions. The exam consists of 40 multiple choice questions.
More informationThe Circular Flow Model
Objectives for Class 24 The Circular Flow Model At the end of Class 24, you will be able to answer the following: 1. Explain the basic circular flow model. 2. Define "consumption" and "saving" 3. Explain
More informationDunbar s Big Review Sheet AP Macroeconomics Exam Content Area [Hubbard Textbook pages] (percentage coverage on AP Macroeconomics Exam) I.
Dunbar s Big Review Sheet AP Macroeconomics Exam Content Area [Hubbard Textbook pages] (percentage coverage on AP Macroeconomics Exam) I. Basic Economic Concepts (8-12%) Three Fundamental Questions [8]:
More informationECO401 - Economics Glossary By
ECO401 - Economics Glossary By Absolute Advantage : Exists when a country can produce more of a product per resource unit than another country. It is a basis for trade. A country with an absolute advantage
More informationLessons for the Young ECONOMIST ROBERT P. MURPHY. LvMI MISES INSTITUTE
Lessons for the Young ECONOMIST ROBERT P. MURPHY LvMI MISES INSTITUTE Contents Acknowledgments ix PART I: FOUNDATIONS 1. Thinking Like an Economist 3 Thinking Like an Economist 3 Is Economics a Science?
More informationSURVEY OF PRIMARY DEALERS
SURVEY OF PRIMARY DEALERS This survey is formulated by the Trading Desk at the Federal Reserve Bank of New York to enhance policymakers' understanding of market expectations on a variety of topics related
More informationECON 1000 (Fall 2017 Section 07) Exam #2C
ECON 1000 (Fall 2017 Section 07) Exam #2C Multiple Choice Questions: (3 points each) 1. I am taking of the exam. C. Version C 2. As discussed in lecture, society can achieve economic growth by A. replacing
More informationMacroeconomics Part II: Long-Run Economic Performance
Macroeconomics Part II: Long-Run Economic Performance I. Introduction 1. long-run versus short-run macroeconomics - long-run: trend, potential, efficiency, rationality, equilibrium, circular flow - short-run:
More informationIM Syllabus ( ): Economics IM SYLLABUS ( ) ECONOMICS IM 08 SYLLABUS
IM SYLLABUS (2011-2014) ECONOMICS IM 08 SYLLABUS 1 Economics IM 08 Syllabus (Available in September) Paper I: Written exam (3 hrs) Aim As a general guideline, the emphasis in the teaching and examination
More information1 of 33. Measuring a Nation s Production and Income. 2 of 33
1 of 33 2 of 33 The methods our government uses today to measure our economy, which we will study in this chapter, were developed in the 1930s. P R E P A R E D B Y FERNANDO QUIJANO, YVONN QUIJANO, AND
More informationMeasuring a Nation s Income
Chapter 22 Measuring a Nation s Income Test A 1. Macroeconomics is the study of a. market regulation. b. money and financial markets. c. economy-wide phenomena. d. how households and firms make decisions
More informationExam ch 16 PRACTICE 2014
Exam ch 16 PRACTICE 2014 1. The most important tool the government has for directing the economy is a. its control over trade racy. b. its control over government subsidies. c. its control over labor laws.
More informationAP Macroeconomics Syllabus Course Outline Required text: Economics: Principles, Problems, and Policies McConnel and Brue 15 th edition
AP Macroeconomics Mrs. Cook 1 st Period Room 210 AP Macroeconomics Syllabus Course Outline Required text: Economics: Principles, Problems, and Policies McConnel and Brue 15 th edition Unit One: Basic Economic
More informationPublic Information Notice (PIN) No. 03/124 FOR IMMEDIATE RELEASE October 17, 2003 International Monetary Fund 700 19 th Street, NW Washington, D. C. 20431 USA IMF Concludes 2003 Article IV Consultation
More informationPART 6 The macroeconomic environment
PART 6 The macroeconomic environment 1 of 38 Economy s Income & Expenditure Gross Domestic Product (GDP) Measures the total income of everyone in the economy Measures the total expenditure on the economy
More informationEastern Mediterranean University Department of Economics Spring Semester Econ 102 Quiz 1. Name: St. No.
22nd March 2017 Eastern Mediterranean University Department of Economics 2016-2017 Spring Semester Econ 102 Quiz 1 Duration: 50 minutes Name: St. No. Group Number 1. GDP is defined as a. the market value
More information7.1 Types of Economies
7.1 Types of Economies I. Types of Economic Systems: All economies must answer 3 key economic questions: 1. 2. 3. what to produce, how to produce, for whom to produce Traditional Economies custom, culture,
More informationCHAPTER. 4-1 Assessment REVIEW GLOBAL BUSINESS TERMS Define each of the following terms. 1. political system 2. democracy 3. totalitarian system 4. host country 5. social responsibility 6. home country
More informationOCR Economics A-level
OCR Economics A-level Macroeconomics Topic 2: Aggregate Demand and Aggregate Supply 2.2 Aggregate demand (AD) Notes Aggregate demand is the total demand in the economy. It measures spending on goods and
More informationLecture 22. Aggregate demand and aggregate supply
Lecture 22 Aggregate demand and aggregate supply By the end of this lecture, you should understand: three key facts about short-run economic fluctuations how the economy in the short run differs from the
More informationChapter 2 The Measurement of Income, Prices, and Unemployment
Chapter 2 The Measurement of Income, Prices, and Unemployment Chapter Outline 2-1 Why We Care About Income 2-2 The Circular Flow of Income and Expenditure 2-3 What GDP Is, and What GDP Is Not a. Defining
More informationECONOMICS WITH FINANCIAL LITERACY CURRICULUM MAP
2017-2018 Teachers may determine their own pacing of the following topics over the course of the quarter, so long as all the standards are covered. THE ECONOMIC WAY OF THINKING....1 ECONOMIC SYSTEMS. 1
More informationEconomics Unit Four. Macroeconomics
Economics Unit Four Macroeconomics Macroeconomics Macroeconomics is the study of the whole economy together the aggregated spending, saving, and investing decisions of all consumers and businesses describes
More informationChapter 9: Unemployment and Inflation
Chapter 9: Unemployment and Inflation Yulei Luo SEF of HKU January 28, 2013 Learning Objectives 1. Measuring the Unemployment Rate, the Labor Force Participation Rate, and the Employment Population Ratio.
More informationSurvey of Primary Dealers
Survey of Primary Dealers Markets Group, Federal Reserve Bank of New York July 2016 Policy Expectations Survey Please respond by Monday, July 18, at 2:00 pm to the questions below. Your time and input
More informationAnswer Key Unit 1: Microeconomics
Answer Key Unit 1: Microeconomics Module 1: Methodology: Demand and Supply 1.1.1 The Central Problem of Economics 1 C 2 B For every 3 windows made, 15 gates are given up. This means that when 1 window
More informationCHAPTER 1 Introduction
CHAPTER 1 Introduction CHAPTER KEY IDEAS 1. The primary questions of interest in macroeconomics involve the causes of long-run growth and business cycles and the appropriate role for government policy
More informationChapter 5. Measuring a Nation s Production and Income. Macroeconomics: Principles, Applications, and Tools NINTH EDITION
Macroeconomics: Principles, Applications, and Tools NINTH EDITION Chapter 5 Measuring a Nation s Production and Income During the recent deep economic downturn, economists, business writers, and politicians
More informationThe Great Depression. Economic Forces in American History
The Great Depression Economic Forces in American History The Great Depression: Outline Contours of the Decline Explaining the Downturn Explaining the Severity Some old explanations Some recent explanations
More informationInternational Economics
International Economics 7th edition Theo S. Eicher, John H. Mutti, and Michelle H. Turnovsky O Routledge jjj^ Taylor & Francis Croup LONDON AND NEW YORK List of Case Studies xiii List of Boxes %p List
More informationGauging Current Conditions: The Economic Outlook and Its Impact on Workers Compensation
Gauging Current Conditions: The Economic Outlook and Its Impact on Workers Compensation The exhibits below are updated quarterly to reflect the current economic outlook for factors that typically impact
More informationFRONT BARNETT ASSOCIATES LLC
FRONT BARNETT ASSOCIATES LLC I N V E S T M E N T C O U N S E L December 15, 1999 THE ECONOMIC OUTLOOK: STRONG MOMENTUM HEADING INTO 2000; REMEMBER THE FUNDAMENTALS As we approach the new millennium, the
More informationINTERNATIONAL FINANCE TOPIC
INTERNATIONAL FINANCE 11 TOPIC The Foreign Exchange Market The dollar ($), the euro ( ), and the yen ( ) are three of the world s monies and most international payments are made using one of them. But
More informationDate: Block # Economics Guided Notes Unit Four Day #2 CPI, Unemployment and the Business Cycle
Name: Date: Block # Economics Guided Notes Unit Four Day #2 CPI, Unemployment and the Business Cycle Directions Activity listen and view today s PowerPoint lesson. As you view each slide, write in any
More informationMike Alexander, AICP Research and Analytics Division Manager Atlanta Regional Commission
Making the Case: THE NEW ECONOMY of an Aging Population in Metropolitan Atlanta Mike Alexander, AICP Research and Analytics Division Manager Atlanta Regional Commission malexander@atlantaregional.com For
More informationHOMEWORK 7 (NATIONAL INCOME ACCOUNTING) ECO41 FALL 2013 UDAYAN ROY
HOMEWORK 7 (NATIONAL INCOME ACCOUNTING) ECO41 FALL 2013 UDAYAN ROY These questions are based on Chapter 13 of International Economics by Krugman, Obstfeld, and Melitz, Ninth Edition. Unless otherwise indicated,
More informationConsumption expenditure The five most important variables that determine the level of consumption are:
The aggregate expenditure model: A macroeconomic model that focuses on the relationship between total spending and real GDP, assuming the price level is constant. Macroeconomic equilibrium: AE = GDP Consumption
More informationCourse Map Economics
Course Title: Economics Course Map Text: Thinking Economics (National Council on Economic Education) Duration: one semester Frequency: one class period daily Year: 2013-2014 Other materials: Areas to be
More informationAdvanced Placement Macro Economics
Advanced Placement Macro Economics Economics is a study of mankind in the ordinary business of life. Alfred Marshall Through the AP Macroeconomics course, students will have a better understanding of the
More informationEconomics. The last two weeks...
Economics The last two weeks... Final Exam (Thursday, December 14) Practice tests and review materials on Wednesday Extra Credit Stock Project (due on Thursday, December 14) Today: Measuring Economic Performance
More informationInternational Business Global Edition
International Business Global Edition By Charles W.L. Hill (adapted for LIUC2012 by R.Helg) Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 8 Foreign Direct Investment Introduction
More informationSURVEY OF PRIMARY DEALERS
SURVEY OF PRIMARY DEALERS This survey is formulated by the Trading Desk at the Federal Reserve Bank of New York to enhance policymakers' understanding of market expectations on a variety of topics related
More informationEC201 Intermediate Macroeconomics Problem Set 1 Solution
EC201 Intermediate Macroeconomics 2009/2010 EC201 Intermediate Macroeconomics Problem Set 1 Solution 1) Given the difference between Gross Domestic Product and Gross National Product for a given economy:
More informationHow to Read the Country Scorecards
How to Read the Country Scorecards These proprietary Country Scorecards utilize nearly fifty different indicators to help provide us with a more accurate picture of a country s current landscape. To better
More information