This document provides an overview of week 2 topics from an economics course for journalists, including supply and demand. It discusses key concepts such as scarcity, opportunity costs, comparative advantage, and how supply and demand determine market prices. Government policies like rent control are also examined. An example writing assignment is given asking students to explain why a dog walker earns more than nurses based on economic concepts from class. Assessment criteria for the assignments focus on correctly applying relevant economic ideas and constructing a logical argument.
This document provides an introduction to economic indicators for journalism students. It defines economic indicators as data used to evaluate the health of an economy. It discusses established indicators like the Consumer Price Index and copper prices. It also categorizes indicators as lagging, coincident, or leading in relation to economic activity. The document advises that good indicators are original, measure important economic activity accurately and consistently, and correlate closely with broader economic measures. It gives some hypothetical alternative indicators as examples from past classes.
Hutchison Whampoa reported a 12% rise in net profit to HK$14.17 billion in 2009, despite a 14% drop in revenue to HK$300.55 billion. Gains from property and asset sales offset losses in its energy and 3G businesses. While losses in 3G operations fell 67%, the division is still dragging on earnings. However, results from property completions and asset sales boosted profits.
This document provides guidance on evaluating the reliability and bias of websites. It discusses asking questions about the author, date, sources, and purpose to determine reliability. Examples are given to distinguish between facts and opinions. Users are encouraged to re-examine websites through this new lens of identifying bias and validity. The overall message is to critically analyze websites to discern what information can be trusted.
Thomas Mayer - The Challenges of Economic Thinking in PracticeDieter Meyeer
1) Conventional economic theories did not anticipate or explain the financial crisis because they do not adequately account for the credit cycle.
2) To understand the credit cycle, economists had to study discarded theories and economic history.
3) Rethinking economics requires shifting from deductive to inductive reasoning and being more interdisciplinary, incorporating insights from fields like history, psychology, and anthropology.
This document provides an overview of economics for journalists, covering topics like supply and demand, the business cycle, economic growth, recessions, and market cycles. It explains that supply and demand determine market prices, and that the business cycle involves periods of growth, peak, recession, and recovery. The circular flow model and factors influencing long-term economic growth are also summarized. Journalists are advised to provide perspective on economic issues rather than panic about normal cyclical changes.
What does obama & post-crisis economics mean for us? Is it the end of offshoring? Possibly. It\'s part of paradigm shift back to local production, local economics, local innovation.
This document provides an introduction to economic indicators for journalism students. It defines economic indicators as data used to evaluate the health of an economy. It discusses established indicators like the Consumer Price Index and copper prices. It also categorizes indicators as lagging, coincident, or leading in relation to economic activity. The document advises that good indicators are original, measure important economic activity accurately and consistently, and correlate closely with broader economic measures. It gives some hypothetical alternative indicators as examples from past classes.
Hutchison Whampoa reported a 12% rise in net profit to HK$14.17 billion in 2009, despite a 14% drop in revenue to HK$300.55 billion. Gains from property and asset sales offset losses in its energy and 3G businesses. While losses in 3G operations fell 67%, the division is still dragging on earnings. However, results from property completions and asset sales boosted profits.
This document provides guidance on evaluating the reliability and bias of websites. It discusses asking questions about the author, date, sources, and purpose to determine reliability. Examples are given to distinguish between facts and opinions. Users are encouraged to re-examine websites through this new lens of identifying bias and validity. The overall message is to critically analyze websites to discern what information can be trusted.
Thomas Mayer - The Challenges of Economic Thinking in PracticeDieter Meyeer
1) Conventional economic theories did not anticipate or explain the financial crisis because they do not adequately account for the credit cycle.
2) To understand the credit cycle, economists had to study discarded theories and economic history.
3) Rethinking economics requires shifting from deductive to inductive reasoning and being more interdisciplinary, incorporating insights from fields like history, psychology, and anthropology.
This document provides an overview of economics for journalists, covering topics like supply and demand, the business cycle, economic growth, recessions, and market cycles. It explains that supply and demand determine market prices, and that the business cycle involves periods of growth, peak, recession, and recovery. The circular flow model and factors influencing long-term economic growth are also summarized. Journalists are advised to provide perspective on economic issues rather than panic about normal cyclical changes.
What does obama & post-crisis economics mean for us? Is it the end of offshoring? Possibly. It\'s part of paradigm shift back to local production, local economics, local innovation.
This document provides an introduction to economic journalism. It defines economics as the study of how people deal with scarcity and make choices about allocating limited resources. Key economic concepts discussed include supply and demand, incentives, business cycles, and how governments measure and influence economic performance. The role of economic journalists is to provide context and perspective on these issues.
This document provides an overview of economics concepts for journalists. It discusses three main types of corporate financial disclosures - profit and loss statements, balance sheets, and cash flow statements. When reporting on earnings, journalists should focus on net profit and revenue year-over-year changes. The document also summarizes an article about Hong Kong's Hutchison Whampoa reporting a 12% rise in profits and explains economic growth and business cycles.
This document provides an introduction to an economics course for journalists. It discusses key topics that will be covered, including supply and demand, incentives, how economies and financial markets function, and monetary and fiscal policy. Students will learn basic macroeconomic concepts and how to interpret and explain economic data to general audiences. The course aims to help students understand and write clearly about economic issues. It will be assessed through exams, writing assignments, class participation and a group project.
The document appears to be a quiz on economics terms and concepts. It contains multiple choice questions about topics like the author of the essay "Principles of Population", what unemployment is called, what a perfectly competitive market is, and more.
Business Economics 03 Demand, Supply and the MarketUttam Satapathy
This document discusses demand, supply, and market equilibrium. It defines demand and supply, outlines factors that influence each, and describes the relationship between price, demand and supply. When demand and supply are equal, the market reaches equilibrium - the price where the quantity demanded equals the quantity supplied. The passage provides examples of demand and supply curves and equilibrium price and quantity points to illustrate these concepts.
This document defines key economic concepts related to demand and supply, including:
- Demand is the desire and ability to purchase goods, defined by a demand schedule and curve showing the relationship between price and quantity demanded.
- The law of demand states that as price increases, quantity demanded decreases, assuming other factors remain constant.
- Supply is the quantity of a good producers are willing to provide at a given price, defined by a supply curve showing the positive relationship between price and quantity supplied.
- Determinants like tastes, income, and expectations can cause shifts in the demand curve, while costs and technology can shift the supply curve.
This document discusses the concepts of demand, supply, and market equilibrium in managerial economics. It defines key terms like demand, determinants of demand, demand schedules, supply, determinants of supply, supply schedules, and market equilibrium. The document also explains the laws of demand and supply, assumptions underlying the laws, individual and market demand curves, shifts in demand and supply curves, and the effect of changes in demand and supply on equilibrium price and quantity. It provides examples of demand and supply curves and equilibrium.
This document provides an overview of mergers and acquisitions (M&A), initial public offerings (IPOs), and international trade. It discusses different types of M&A deals, global M&A activity from 2004-2012, the M&A process, questions to consider in M&A deals, and valuations. It also covers the IPO process, trade terminology, arguments for and against free trade, government trade policies, and the relationship between trade and currency values.
This document provides an overview of foreign exchange and bond markets. It discusses the major global currencies and daily forex trading volumes. It also outlines factors that influence currency values such as interest rates, inflation, and trade imbalances. Additionally, it defines what bonds are, how bond markets work, and key factors like interest rates and credit ratings that affect bond prices. Yield curves and spreads are also explained as tools used in analyzing bond markets.
The banking system channels savings from individuals to borrowers. As financial intermediaries, commercial banks take deposits and make loans. They must keep a portion of deposits as reserves set by the central bank. When the reserve ratio is lower, banks can lend out more, expanding the money supply through the money multiplier effect. Non-bank financial institutions also participate in shadow banking.
This document provides an overview of financial markets for journalists. It discusses the key characteristics of markets, including that they bring together buyers and sellers, allow standardized trading of fungible products by any participant, and make trade information public. The document also summarizes the main types of financial markets like commodities, stocks, bonds and forex, and the participants, price formation processes, and factors that influence prices in these markets.
The document provides an overview of analyzing corporate profit and loss statements. It discusses key components of a P&L statement such as revenue, expenses, profit, earnings per share, and how it shows the path from revenue to net profit. It also discusses interpreting P&L statements, including checking footnotes and understanding the treatment of items like depreciation, subsidiaries versus associates, and minority interests. An example P&L statement is then presented for Hutchison Whampoa Limited to demonstrate these concepts.
The document provides an overview of international trade concepts including absolute advantage, comparative advantage, trade barriers, and trade policies. It discusses how free trade creates winners and losers between importing and exporting countries. Specifically, domestic consumers in importing countries and domestic producers in exporting countries tend to benefit from free trade, while the opposite is true for domestic consumers in exporting countries and domestic producers in importing countries. The document also outlines the effects of tariffs on prices and trade volumes.
PCCW reported a 20% decline in first-half net profit due to lower revenue contribution from its property development unit. Net profit fell to HK$656 million from HK$822 million a year earlier, while revenue declined 2% to HK$11.37 billion, mainly due to smaller contribution from its property development subsidiary. Revenue from PCCW's core telecommunications services rose 11% and from its broadband TV business increased 45%, but it did not offset the decline in property revenue. An analyst said net profit was below expectations due to continued investment in the TV business.
This document provides an overview of government economic policy tools used by central banks and finance ministries. It discusses fiscal policy tools like taxation and government spending and how they can be used to stimulate or contract the economy. It also explains monetary policy tools controlled by central banks, including interest rates, required reserve ratios, and open market operations to influence money supply and achieve goals of steady growth and low inflation. Specific policy examples from the US, UK, Japan, and Europe are also mentioned.
The document discusses key economic goals of governments including full employment, steady annual growth, and stable prices. It then covers concepts of absolute and comparative advantage in determining what goods countries will produce. It provides an overview of common economic indicators used to measure economic performance such as GDP, CPI, unemployment, and money supply. It also discusses important considerations for analyzing and reporting on economic data.
The document provides an overview of key concepts for covering stock markets and shares, including:
- What a share represents in terms of ownership stake and entitlement to profits
- Factors that influence share prices such as supply and demand, the economy, and company earnings
- How share prices reflect market expectations about a company's future performance
- Tools for analyzing stocks such as indexes, sectors, market capitalization, price-earnings ratios, and technical indicators
- Sources of information like brokerage ratings and finding contextual factors behind price movements
The stock market rebounded after earlier losses as concerns eased over European banks' access to funding. French banks reassured markets and investors watched for progress on Europe's debt crisis. Major U.S. stock indices ended higher, led by gains in industrial, materials and tech stocks, as signs pointed to stabilization in the markets.
The document provides an overview of covering company news as a financial journalist. It discusses why companies exist, the differences between private and public companies, and how public corporations function. It also outlines various types of corporate stories to cover, including earnings announcements, new products/business lines, executive changes, initial public offerings, and secondary fundraising. Key details on how to report on these stories such as common questions to ask and elements to include in articles are also reviewed.
This document provides an overview of corporations for journalism students. It discusses why companies exist, the difference between private and public companies, key industries, how public companies function, costs and profit, types of corporate stories to cover, and earnings announcements. The document is from a class on economics for journalists that focuses on reviewing supply and demand, examining the economic efficiency of gifts, and discussing corporations.
This document provides an introduction to economic journalism. It defines economics as the study of how people deal with scarcity and make choices about allocating limited resources. Key economic concepts discussed include supply and demand, incentives, business cycles, and how governments measure and influence economic performance. The role of economic journalists is to provide context and perspective on these issues.
This document provides an overview of economics concepts for journalists. It discusses three main types of corporate financial disclosures - profit and loss statements, balance sheets, and cash flow statements. When reporting on earnings, journalists should focus on net profit and revenue year-over-year changes. The document also summarizes an article about Hong Kong's Hutchison Whampoa reporting a 12% rise in profits and explains economic growth and business cycles.
This document provides an introduction to an economics course for journalists. It discusses key topics that will be covered, including supply and demand, incentives, how economies and financial markets function, and monetary and fiscal policy. Students will learn basic macroeconomic concepts and how to interpret and explain economic data to general audiences. The course aims to help students understand and write clearly about economic issues. It will be assessed through exams, writing assignments, class participation and a group project.
The document appears to be a quiz on economics terms and concepts. It contains multiple choice questions about topics like the author of the essay "Principles of Population", what unemployment is called, what a perfectly competitive market is, and more.
Business Economics 03 Demand, Supply and the MarketUttam Satapathy
This document discusses demand, supply, and market equilibrium. It defines demand and supply, outlines factors that influence each, and describes the relationship between price, demand and supply. When demand and supply are equal, the market reaches equilibrium - the price where the quantity demanded equals the quantity supplied. The passage provides examples of demand and supply curves and equilibrium price and quantity points to illustrate these concepts.
This document defines key economic concepts related to demand and supply, including:
- Demand is the desire and ability to purchase goods, defined by a demand schedule and curve showing the relationship between price and quantity demanded.
- The law of demand states that as price increases, quantity demanded decreases, assuming other factors remain constant.
- Supply is the quantity of a good producers are willing to provide at a given price, defined by a supply curve showing the positive relationship between price and quantity supplied.
- Determinants like tastes, income, and expectations can cause shifts in the demand curve, while costs and technology can shift the supply curve.
This document discusses the concepts of demand, supply, and market equilibrium in managerial economics. It defines key terms like demand, determinants of demand, demand schedules, supply, determinants of supply, supply schedules, and market equilibrium. The document also explains the laws of demand and supply, assumptions underlying the laws, individual and market demand curves, shifts in demand and supply curves, and the effect of changes in demand and supply on equilibrium price and quantity. It provides examples of demand and supply curves and equilibrium.
This document provides an overview of mergers and acquisitions (M&A), initial public offerings (IPOs), and international trade. It discusses different types of M&A deals, global M&A activity from 2004-2012, the M&A process, questions to consider in M&A deals, and valuations. It also covers the IPO process, trade terminology, arguments for and against free trade, government trade policies, and the relationship between trade and currency values.
This document provides an overview of foreign exchange and bond markets. It discusses the major global currencies and daily forex trading volumes. It also outlines factors that influence currency values such as interest rates, inflation, and trade imbalances. Additionally, it defines what bonds are, how bond markets work, and key factors like interest rates and credit ratings that affect bond prices. Yield curves and spreads are also explained as tools used in analyzing bond markets.
The banking system channels savings from individuals to borrowers. As financial intermediaries, commercial banks take deposits and make loans. They must keep a portion of deposits as reserves set by the central bank. When the reserve ratio is lower, banks can lend out more, expanding the money supply through the money multiplier effect. Non-bank financial institutions also participate in shadow banking.
This document provides an overview of financial markets for journalists. It discusses the key characteristics of markets, including that they bring together buyers and sellers, allow standardized trading of fungible products by any participant, and make trade information public. The document also summarizes the main types of financial markets like commodities, stocks, bonds and forex, and the participants, price formation processes, and factors that influence prices in these markets.
The document provides an overview of analyzing corporate profit and loss statements. It discusses key components of a P&L statement such as revenue, expenses, profit, earnings per share, and how it shows the path from revenue to net profit. It also discusses interpreting P&L statements, including checking footnotes and understanding the treatment of items like depreciation, subsidiaries versus associates, and minority interests. An example P&L statement is then presented for Hutchison Whampoa Limited to demonstrate these concepts.
The document provides an overview of international trade concepts including absolute advantage, comparative advantage, trade barriers, and trade policies. It discusses how free trade creates winners and losers between importing and exporting countries. Specifically, domestic consumers in importing countries and domestic producers in exporting countries tend to benefit from free trade, while the opposite is true for domestic consumers in exporting countries and domestic producers in importing countries. The document also outlines the effects of tariffs on prices and trade volumes.
PCCW reported a 20% decline in first-half net profit due to lower revenue contribution from its property development unit. Net profit fell to HK$656 million from HK$822 million a year earlier, while revenue declined 2% to HK$11.37 billion, mainly due to smaller contribution from its property development subsidiary. Revenue from PCCW's core telecommunications services rose 11% and from its broadband TV business increased 45%, but it did not offset the decline in property revenue. An analyst said net profit was below expectations due to continued investment in the TV business.
This document provides an overview of government economic policy tools used by central banks and finance ministries. It discusses fiscal policy tools like taxation and government spending and how they can be used to stimulate or contract the economy. It also explains monetary policy tools controlled by central banks, including interest rates, required reserve ratios, and open market operations to influence money supply and achieve goals of steady growth and low inflation. Specific policy examples from the US, UK, Japan, and Europe are also mentioned.
The document discusses key economic goals of governments including full employment, steady annual growth, and stable prices. It then covers concepts of absolute and comparative advantage in determining what goods countries will produce. It provides an overview of common economic indicators used to measure economic performance such as GDP, CPI, unemployment, and money supply. It also discusses important considerations for analyzing and reporting on economic data.
The document provides an overview of key concepts for covering stock markets and shares, including:
- What a share represents in terms of ownership stake and entitlement to profits
- Factors that influence share prices such as supply and demand, the economy, and company earnings
- How share prices reflect market expectations about a company's future performance
- Tools for analyzing stocks such as indexes, sectors, market capitalization, price-earnings ratios, and technical indicators
- Sources of information like brokerage ratings and finding contextual factors behind price movements
The stock market rebounded after earlier losses as concerns eased over European banks' access to funding. French banks reassured markets and investors watched for progress on Europe's debt crisis. Major U.S. stock indices ended higher, led by gains in industrial, materials and tech stocks, as signs pointed to stabilization in the markets.
The document provides an overview of covering company news as a financial journalist. It discusses why companies exist, the differences between private and public companies, and how public corporations function. It also outlines various types of corporate stories to cover, including earnings announcements, new products/business lines, executive changes, initial public offerings, and secondary fundraising. Key details on how to report on these stories such as common questions to ask and elements to include in articles are also reviewed.
This document provides an overview of corporations for journalism students. It discusses why companies exist, the difference between private and public companies, key industries, how public companies function, costs and profit, types of corporate stories to cover, and earnings announcements. The document is from a class on economics for journalists that focuses on reviewing supply and demand, examining the economic efficiency of gifts, and discussing corporations.
The document contains three proposals for small business profiles to cover:
1. A Chinese company called Yage Era Corp. that deletes negative posts and links online for clients and how it navigates regulations in a growing market.
2. A cat cafe in Hong Kong called The Cat Cafe that lost its restaurant license but continues operating as a cooking school with resident cats.
3. A music therapy center in Hong Kong called Pang's Music Therapy Center that offers treatments to both special needs and normal clients, and the growing but limited market for music therapy in Hong Kong.
This document provides an overview of a course on global financial journalism. It discusses key themes like how everything in today's global financial system is interrelated and how business journalism isn't just about numbers but also about people. It defines what constitutes business news and explains why business journalism is important. The document outlines learning outcomes, assignments students will complete, reading assignments, the assessment process, and the course schedule. The goal is for students to learn to write different types of business news stories and analyze financial documents and events.
This document provides an introduction and overview for a course on economics for journalists. It defines economics as the study of how people deal with scarcity and make choices with trade-offs. The course will cover topics like how economies, companies, banks, markets and governments work, and economic theories. Students will write assignments, do a group project, and take a midterm and final exam. The instructor emphasizes applying economic concepts clearly and citing sources to avoid plagiarism. The first assignment is to set up an RSS reader for daily economic news and write an economic diary entry.
The document discusses initial public offerings (IPOs) and the IPO process. It explains that an IPO is the sale of shares in a private company to investors, resulting in the listing of the company on a stock exchange. The IPO process involves several steps, including announcing the intention to list, appointing an underwriter, setting an indicative price range, determining subscription levels, and finalizing the pricing before the company's shares are listed. The document provides details on these various stages to educate about fundamentals of business and financial journalism related to IPOs.
The document discusses mergers and acquisitions (M&A) and initial public offerings (IPOs). It defines different types of M&A transactions like mergers, acquisitions, take privates, and joint ventures. It also outlines the M&A process including initiation, due diligence, shareholder votes, integration, and questions to consider in M&A deals. Additionally, it covers global M&A trends in recent years and methods for valuing transactions.
The document discusses key economic indicators such as GDP, CPI, unemployment rates, and confidence indexes. It explains how governments and central banks use tools like fiscal policy, monetary policy, interest rates, and reserve ratios to influence economic goals of steady growth, low unemployment, and stable prices. Specific indicators covered in depth include CPI, which can have issues due to arbitrary baselines and basket changes over time, and unemployment rates, which don't include discouraged workers.
Indonesia's economy grew at its fastest pace since 2008 in the first quarter of 2010, expanding 5.7% year-over-year driven by increased household spending, business investment, and exports. This exceeded economists' median growth forecast of 5.78% and reversed the previous quarter's contraction, showing Indonesia's economic recovery remains on track. Strong growth, stable inflation, and improved politics are expected to foster a better investment environment going forward.
2. Review: What is economics?
✤ The study of how people deal with scarcity
✤ Nothing is available in unlimited quantities
✤ This requires making choices, making trade-offs
✤ Businesses & governments use incentives to influence those choices
✤ Under the classical model, people always make choices rationally
Monday, 28 January, 13
4. Absolute advantage
“ The producer that requires a smaller quantity of inputs to
produce a good is said to have an absolute advantage in
producing that good.”
– N. Gregory Mankiw,
Principles of Economics
Monday, 28 January, 13
5. Absolute advantage
“ The producer that requires a smaller quantity of inputs to
produce a good is said to have an absolute advantage in
producing that good.”
– N. Gregory Mankiw,
Principles of Economics
So...a business with an absolute
advantage is just better – more efficient
– at producing that product than
anyone else
Monday, 28 January, 13
6. Comparative advantage
“ The producer who gives up less of other goods to produce
[a particular good] has the smaller opportunity cost of
producing [that particular good] and is said to have a
comparative advantage in producing it.”
– N. Gregory Mankiw,
Principles of Economics
Monday, 28 January, 13
7. Comparative advantage
“ The producer who gives up less of other goods to produce
[a particular good] has the smaller opportunity cost of
producing [that particular good] and is said to have a
comparative advantage in producing it.”
– N. Gregory Mankiw,
Principles of Economics
So...even a business with an absolute
advantage in making a product might
choose to make something else that
will earn them more money
Monday, 28 January, 13
8. Comparative advantage: example
Amount of time
required to make: Alice Fred
Surfboard 200 hours 300 hours
Water skis 100 hours 120 hours
Who has the comparative advantage
in making water skis?
Monday, 28 January, 13
10. Supply &
Demand
✤ Demand is based on the
Price
value consumers attach to Supply
goods & services as well as
their income & substitute
goods Market
Price
✤ Supply is determined by
suppliers’ costs
Demand
✤ The market price is a Quantity
summary of the supply &
demand in the market
Monday, 28 January, 13
11. Supply &
Demand
✤ Demand is based on the
Price
value consumers attach to Supply
goods & services as well as
their income & substitute New Price
goods
{
Market Add’l
Price Suppliers
✤ Supply is determined by New
Demand
suppliers’ costs
Demand
✤ The market price is a Quantity
summary of the supply &
demand in the market
Monday, 28 January, 13
12. What kind of product is this?
Price
Supply
Market
Price
Demand
Quantity
Monday, 28 January, 13
13. What kind of product is this?
Price
Supply
New Price
Market
Price
Demand
Q1 Quantity
Monday, 28 January, 13
14. What kind of product is this?
Price
Supply
Market
Price
Demand
Q1 Quantity
Monday, 28 January, 13
15. What kind of product is this?
Price
Supply
Market
Price
New Price
Demand
Q1 Quantity
Q2
Monday, 28 January, 13
16. Government Policy: Rent control
Price
Supply
Market
Price
Demand
Quantity
Monday, 28 January, 13
17. Government Policy: Rent control
Price
Supply
Market
Price
Mandated
Price
{ Supply
Gap
Demand
Quantity Quantity Quantity
Supplied Demanded
Monday, 28 January, 13
18. Writing assignment 1
Eddie Bimonte, a New York City dog
walker, earns around US$50,000 per year.
Registered nurses in New York, with two to
three years of training, make an average of
US$47,742. Your assignment for next week is
to explain, in no more than 500 words, why
you think Eddie makes more money than
the average nurse. Start by thinking like a
journalist: think about what Eddie’s job
actually involves, who his clients are, and
how he does his job. Then try and explain
this situation using the concepts we've
discussed so far in class.
Monday, 28 January, 13