The document provides an overview of key economic principles including microeconomics, macroeconomics, the main decision makers in the economy, demand and supply, measuring economic growth, real GDP vs nominal GDP, the business cycle, economic indicators, interest rates, inflation, and the relationship between growth in the money supply and the economy. It examines these concepts across multiple sections and provides examples to illustrate important points.
The document discusses how businesses are affected by factors in the external environment that are outside of their control, including political, economic, social, technological factors. It introduces the PEST analysis framework for examining the external environment and provides examples of how different external factors impact businesses and should be considered in their objectives and strategies. The document also gives specific examples analyzing how certain external and economic factors impact businesses.
The chapter discusses the uneven nature of economic development globally. It begins by defining economic development and explaining different theories for why some regions are more developed than others. The key aspects covered include the structure of economies, international trade, development models, and pathways to regional development. Globalization has meant that local and regional economic development is more influenced by external forces. Overall, the chapter examines the patterns and processes of economic development worldwide and how this development is spatially uneven across different regions.
This revision presentation for business students introduces the concept of the economic cycle. GDP, consumer spending, business investment are described as are possible business strategies that are adopted during an economic downturn.
This document summarizes Korea's experience with government-led economic development from the 1950s to the 1990s. It describes how Korea transitioned from a war-torn economy in the 1950s with widespread poverty, lack of jobs and infrastructure to becoming a highly developed economy by the 2000s. Key elements included establishing institutions like the Economic Planning Board to coordinate five-year economic development plans with a focus on industrialization, education, infrastructure and mobilizing domestic and foreign resources. Under strong leadership of President Park Chung-hee, Korea achieved high growth rates through its development plans and establishing large corporations and supporting small- and medium-sized enterprises. This helped foster technical skills, entrepreneurship and competitive globally companies to drive sustainable growth.
Rao 3a foundations of economic developmentSizwan Ahammed
1. The document discusses several fundamental concepts related to economic growth and development, including the relationships between growth and structural change, distribution and growth, and demand-side and supply-side causes of growth.
2. It also examines the role of investment, imports, and structural change in long-term growth, and how factors like low initial income levels can constrain investment and import capacity.
3. The document explores interactions between growth and distribution, sources of their complementarity, and the concepts of trickle-down versus pro-poor growth. It analyzes how reducing inequality can stimulate effective demand and growth.
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The document discusses how businesses are affected by factors in the external environment that are outside of their control, including political, economic, social, technological factors. It introduces the PEST analysis framework for examining the external environment and provides examples of how different external factors impact businesses and should be considered in their objectives and strategies. The document also gives specific examples analyzing how certain external and economic factors impact businesses.
The chapter discusses the uneven nature of economic development globally. It begins by defining economic development and explaining different theories for why some regions are more developed than others. The key aspects covered include the structure of economies, international trade, development models, and pathways to regional development. Globalization has meant that local and regional economic development is more influenced by external forces. Overall, the chapter examines the patterns and processes of economic development worldwide and how this development is spatially uneven across different regions.
This revision presentation for business students introduces the concept of the economic cycle. GDP, consumer spending, business investment are described as are possible business strategies that are adopted during an economic downturn.
This document summarizes Korea's experience with government-led economic development from the 1950s to the 1990s. It describes how Korea transitioned from a war-torn economy in the 1950s with widespread poverty, lack of jobs and infrastructure to becoming a highly developed economy by the 2000s. Key elements included establishing institutions like the Economic Planning Board to coordinate five-year economic development plans with a focus on industrialization, education, infrastructure and mobilizing domestic and foreign resources. Under strong leadership of President Park Chung-hee, Korea achieved high growth rates through its development plans and establishing large corporations and supporting small- and medium-sized enterprises. This helped foster technical skills, entrepreneurship and competitive globally companies to drive sustainable growth.
Rao 3a foundations of economic developmentSizwan Ahammed
1. The document discusses several fundamental concepts related to economic growth and development, including the relationships between growth and structural change, distribution and growth, and demand-side and supply-side causes of growth.
2. It also examines the role of investment, imports, and structural change in long-term growth, and how factors like low initial income levels can constrain investment and import capacity.
3. The document explores interactions between growth and distribution, sources of their complementarity, and the concepts of trickle-down versus pro-poor growth. It analyzes how reducing inequality can stimulate effective demand and growth.
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601
Economic Development and Growth GlossaryEton College
The document provides definitions for various economic development and growth terms. It includes definitions such as:
- AAA Credit Rating refers to the best credit rating given to corporate bonds, indicating negligible risk of default.
- Absolute poverty refers to those without adequate nutrition, shelter, or clothing to survive, as defined by the World Bank.
- Accelerator effect links planned capital investment positively to past and expected consumer demand growth.
- Several other terms are also defined such as accession countries, accommodatory policy, adjusted net savings, advanced economies, and age dependency ratio.
Angela McGowan presentation to October 2009 CBI (NI)/ Stratagem Conferencestratagemni
The document summarizes the state of the global and local economies. At the global level, G7 economies are recovering from recession more quickly than expected, driven by monetary and fiscal policies. Locally, inflation is up 1.6% while unemployment and contraction in business services and manufacturing continue. Small economies like Northern Ireland face challenges with low productivity and a small local market, but opportunities exist from global recovery, cross-border trade, and a weak sterling. Policymakers and businesses must focus on innovation, skills, education, and developing high-value industries to achieve sustainable long-term growth.
Project financing and appraisal atul raitiwarineha
The document discusses project financing and appraisal, explaining that project financing deals with how to finance projects while project appraisal focuses on evaluating which projects are worth financing. It covers the different approaches to project financing and appraisal, from the promoter and lender perspectives, and examines factors like the macroeconomic environment, institutional framework, and why markets may fail in areas like public goods, asymmetric information, and externalities.
The economic environment consists of macro-level factors that impact the demand and supply for businesses, including the nature of the economy, level of development, resources, income levels, and income distribution. It includes economic conditions, policies, systems, and the international business environment. Economic factors like demand, supply, money, banking, income, employment, growth, and development all affect businesses. Recent economic facts about India note contributions of MSMEs, key crops and exports, foreign currency assets, and that services are the major driver of economic growth.
Indian Financial System : Monetary And Fiscal Policy,Economic Trends, Price Policy,Stock Exchange Of
India,Role of regulatory instituions in Indian financial system – RBI and SEBI , National Income,Role of
Industry in Economic Development, Foreign Trade and Balance of Payment,Poverty in India, Unemployment
in India, Inflation, Human Development, Rural Development, Problems of Growth
Economic Environment - International Business - Manu Melwin Joymanumelwin
Economic conditions, economic policies and the economic system are the important external factors that constitute the economic environment of a business. The economic conditions of a country-for example, the nature of the economy, the stage of development of the economy, economic resources, and the level of income, the distribution of income and assets, etc- are among the very important determinants of business strategies.
The Most Challenging Economy in DecadesQamar Farooq
The document discusses key concepts in microeconomics and macroeconomics. It defines microeconomics as the study of small economic units like consumers and businesses, while macroeconomics is defined as the study of a nation's overall economic issues. The document also outlines factors that drive supply and demand, different market structures, economic systems, the business cycle, and how monetary and fiscal policy can be used to manage an economy. It concludes by mentioning some major global economic challenges faced in the 21st century.
This document provides an overview of macroeconomics. It defines macroeconomics as looking at the overall economy and studying economic aggregates. It discusses the importance of macroeconomics in understanding how an economy functions, formulating policies, and analyzing monetary problems. The document also notes some limitations of macroeconomics, such as ignoring individual welfare. It then contrasts macroeconomics with microeconomics, which focuses on individual units rather than aggregates.
Schumpeterian theory views economic development as resulting from "new combinations" introduced through innovations. These innovations disrupt equilibrium and are introduced by entrepreneurs seeking profits. Entrepreneurs are financed through bank credit expansion, fueling investment and economic growth. However, this leads to a boom-bust cycle as old industries are displaced. Over time, capitalism decays due to weakening entrepreneurship, family institutions, and property rights, transitioning toward socialism. Critics argue Schumpeter overstates the role of idealized innovators and the cyclical nature of innovation-driven changes.
The document provides definitions for various macroeconomic key terms:
- AAA credit rating refers to the best credit rating given to bonds, indicating negligible risk of default.
- Aggregate supply shocks reduce output and can increase inflation by affecting potential output or causing inflation.
- Austerity aims to reduce government deficits through tax increases and/or spending cuts.
- Bank runs occur when depositors lose confidence and withdraw funds due to fears the bank may collapse.
- Bond markets allow governments and firms to raise money through issuing new debt.
- The BRIC economies refer to the rising emerging markets of Brazil, Russia, India, and China.
- Bubbles occur when asset prices
This chapter discusses output and exchange rates in the short run for an open economy. It introduces models of aggregate demand and asset market equilibrium. The DD schedule shows combinations of output and exchange rates where the output market is in equilibrium. The AA schedule shows combinations where the money and foreign exchange markets are in equilibrium. Short-run macroeconomic equilibrium occurs at the intersection of the DD and AA schedules. The effects of temporary and permanent monetary and fiscal policy shifts are analyzed using the model. Policy tools can be used to maintain full employment in response to short-run disturbances.
Keynes advocated for increased government spending during economic downturns to stimulate demand and growth. This spending would focus on areas like health, education, and social programs to support those most impacted. Reducing spending during recessions exacerbates the problem as businesses and consumers reduce their spending as well, further weakening the economy. The government must step in to create demand through job programs and putting money back into the economy to break this cycle. When the economy recovers, the government should then increase savings.
This chapter discusses business cycles, unemployment, and inflation. It covers the phases of the business cycle including peaks, recessions, troughs, and expansions. It also discusses the measurement and types of unemployment, including frictional, structural, and cyclical unemployment. The chapter covers inflation measurement using the Consumer Price Index and types of inflation including demand-pull and cost-push inflation. It discusses the impacts of both unemployment and inflation.
This document provides an overview of key economic concepts and factors relevant to international business operations. It defines measures like gross national income, gross domestic product, inflation, unemployment, poverty, and productivity. It also profiles different types of economic systems, the dimensions of economic freedom, and means of economic transition.
The document discusses the economic environment for businesses. It defines the economic environment as consisting of macro-level economic factors that impact businesses, including growth strategy, industry, agriculture, infrastructure, money/capital markets, income, population, and economic policy. Some key economic policies mentioned are industrial, fiscal, monetary, foreign investment, and exports/imports policies. The document also outlines several important economic factors that affect businesses, such as income, inflation, recession, interest rates, and exchange rates.
This document discusses strategic planning and the external environment. It covers macroeconomic factors like GDP, inflation, exchange rates, and competitive advantages between nations. The PEST analysis framework is introduced to analyze political, economic, social and technological trends. Scenario planning is also presented as a tool to consider potential futures. The key message is that the external environment is largely outside a company's control but must be understood to inform strategic decision-making.
Supply-side policies aim to improve the long-term productive capacity of an economy by focusing on factors like incentives, skills, competition and infrastructure. Recent UK supply-side policies include welfare reforms, tax incentives for R&D and shale gas, and investments in infrastructure and apprenticeships. Higher productivity is key to improving competitiveness and living standards, but the UK has lagged peers in productivity growth in recent years due to underinvestment and other factors.
This document discusses the landscape and implications of ebooks. It notes that ebooks are an important change that libraries must address in areas like relevance to patrons, costs, impacts on operations, implementation challenges, policy considerations, and cataloging issues. Ebooks present problems that libraries must constantly work to address as the format continues to change.
El documento habla sobre las empresas comerciales. Define la empresa y su historia, objetivos, funciones e importancia. Explica la contabilidad comercial, sus registros y sistemas de control de inventarios. También cubre las obligaciones tributarias como el IVA e Impuesto a la Renta. Por último, menciona algunas estrategias de promoción y marketing para las empresas como vallas publicitarias, publicidad en TV, promociones y descuentos.
The document discusses various topics related to multimodal fluency and learning in the digital age including:
- The need to ground online learning in learning theory and pedagogy to ensure effective design.
- Different models of cloud computing like Infrastructure as a Service, Platform as a Service, and Software as a Service.
- The importance of developing skills like information literacy, digital literacy, and interpersonal skills for learning and survival in the modern world.
- Various teaching strategies like inquiry-based learning, problem-based learning, and constructivism that can be used with digital tools.
- The use of tools like Google Sites, Flickr, Animoto, and WordPress to support constructivist and problem-based
Economic Development and Growth GlossaryEton College
The document provides definitions for various economic development and growth terms. It includes definitions such as:
- AAA Credit Rating refers to the best credit rating given to corporate bonds, indicating negligible risk of default.
- Absolute poverty refers to those without adequate nutrition, shelter, or clothing to survive, as defined by the World Bank.
- Accelerator effect links planned capital investment positively to past and expected consumer demand growth.
- Several other terms are also defined such as accession countries, accommodatory policy, adjusted net savings, advanced economies, and age dependency ratio.
Angela McGowan presentation to October 2009 CBI (NI)/ Stratagem Conferencestratagemni
The document summarizes the state of the global and local economies. At the global level, G7 economies are recovering from recession more quickly than expected, driven by monetary and fiscal policies. Locally, inflation is up 1.6% while unemployment and contraction in business services and manufacturing continue. Small economies like Northern Ireland face challenges with low productivity and a small local market, but opportunities exist from global recovery, cross-border trade, and a weak sterling. Policymakers and businesses must focus on innovation, skills, education, and developing high-value industries to achieve sustainable long-term growth.
Project financing and appraisal atul raitiwarineha
The document discusses project financing and appraisal, explaining that project financing deals with how to finance projects while project appraisal focuses on evaluating which projects are worth financing. It covers the different approaches to project financing and appraisal, from the promoter and lender perspectives, and examines factors like the macroeconomic environment, institutional framework, and why markets may fail in areas like public goods, asymmetric information, and externalities.
The economic environment consists of macro-level factors that impact the demand and supply for businesses, including the nature of the economy, level of development, resources, income levels, and income distribution. It includes economic conditions, policies, systems, and the international business environment. Economic factors like demand, supply, money, banking, income, employment, growth, and development all affect businesses. Recent economic facts about India note contributions of MSMEs, key crops and exports, foreign currency assets, and that services are the major driver of economic growth.
Indian Financial System : Monetary And Fiscal Policy,Economic Trends, Price Policy,Stock Exchange Of
India,Role of regulatory instituions in Indian financial system – RBI and SEBI , National Income,Role of
Industry in Economic Development, Foreign Trade and Balance of Payment,Poverty in India, Unemployment
in India, Inflation, Human Development, Rural Development, Problems of Growth
Economic Environment - International Business - Manu Melwin Joymanumelwin
Economic conditions, economic policies and the economic system are the important external factors that constitute the economic environment of a business. The economic conditions of a country-for example, the nature of the economy, the stage of development of the economy, economic resources, and the level of income, the distribution of income and assets, etc- are among the very important determinants of business strategies.
The Most Challenging Economy in DecadesQamar Farooq
The document discusses key concepts in microeconomics and macroeconomics. It defines microeconomics as the study of small economic units like consumers and businesses, while macroeconomics is defined as the study of a nation's overall economic issues. The document also outlines factors that drive supply and demand, different market structures, economic systems, the business cycle, and how monetary and fiscal policy can be used to manage an economy. It concludes by mentioning some major global economic challenges faced in the 21st century.
This document provides an overview of macroeconomics. It defines macroeconomics as looking at the overall economy and studying economic aggregates. It discusses the importance of macroeconomics in understanding how an economy functions, formulating policies, and analyzing monetary problems. The document also notes some limitations of macroeconomics, such as ignoring individual welfare. It then contrasts macroeconomics with microeconomics, which focuses on individual units rather than aggregates.
Schumpeterian theory views economic development as resulting from "new combinations" introduced through innovations. These innovations disrupt equilibrium and are introduced by entrepreneurs seeking profits. Entrepreneurs are financed through bank credit expansion, fueling investment and economic growth. However, this leads to a boom-bust cycle as old industries are displaced. Over time, capitalism decays due to weakening entrepreneurship, family institutions, and property rights, transitioning toward socialism. Critics argue Schumpeter overstates the role of idealized innovators and the cyclical nature of innovation-driven changes.
The document provides definitions for various macroeconomic key terms:
- AAA credit rating refers to the best credit rating given to bonds, indicating negligible risk of default.
- Aggregate supply shocks reduce output and can increase inflation by affecting potential output or causing inflation.
- Austerity aims to reduce government deficits through tax increases and/or spending cuts.
- Bank runs occur when depositors lose confidence and withdraw funds due to fears the bank may collapse.
- Bond markets allow governments and firms to raise money through issuing new debt.
- The BRIC economies refer to the rising emerging markets of Brazil, Russia, India, and China.
- Bubbles occur when asset prices
This chapter discusses output and exchange rates in the short run for an open economy. It introduces models of aggregate demand and asset market equilibrium. The DD schedule shows combinations of output and exchange rates where the output market is in equilibrium. The AA schedule shows combinations where the money and foreign exchange markets are in equilibrium. Short-run macroeconomic equilibrium occurs at the intersection of the DD and AA schedules. The effects of temporary and permanent monetary and fiscal policy shifts are analyzed using the model. Policy tools can be used to maintain full employment in response to short-run disturbances.
Keynes advocated for increased government spending during economic downturns to stimulate demand and growth. This spending would focus on areas like health, education, and social programs to support those most impacted. Reducing spending during recessions exacerbates the problem as businesses and consumers reduce their spending as well, further weakening the economy. The government must step in to create demand through job programs and putting money back into the economy to break this cycle. When the economy recovers, the government should then increase savings.
This chapter discusses business cycles, unemployment, and inflation. It covers the phases of the business cycle including peaks, recessions, troughs, and expansions. It also discusses the measurement and types of unemployment, including frictional, structural, and cyclical unemployment. The chapter covers inflation measurement using the Consumer Price Index and types of inflation including demand-pull and cost-push inflation. It discusses the impacts of both unemployment and inflation.
This document provides an overview of key economic concepts and factors relevant to international business operations. It defines measures like gross national income, gross domestic product, inflation, unemployment, poverty, and productivity. It also profiles different types of economic systems, the dimensions of economic freedom, and means of economic transition.
The document discusses the economic environment for businesses. It defines the economic environment as consisting of macro-level economic factors that impact businesses, including growth strategy, industry, agriculture, infrastructure, money/capital markets, income, population, and economic policy. Some key economic policies mentioned are industrial, fiscal, monetary, foreign investment, and exports/imports policies. The document also outlines several important economic factors that affect businesses, such as income, inflation, recession, interest rates, and exchange rates.
This document discusses strategic planning and the external environment. It covers macroeconomic factors like GDP, inflation, exchange rates, and competitive advantages between nations. The PEST analysis framework is introduced to analyze political, economic, social and technological trends. Scenario planning is also presented as a tool to consider potential futures. The key message is that the external environment is largely outside a company's control but must be understood to inform strategic decision-making.
Supply-side policies aim to improve the long-term productive capacity of an economy by focusing on factors like incentives, skills, competition and infrastructure. Recent UK supply-side policies include welfare reforms, tax incentives for R&D and shale gas, and investments in infrastructure and apprenticeships. Higher productivity is key to improving competitiveness and living standards, but the UK has lagged peers in productivity growth in recent years due to underinvestment and other factors.
This document discusses the landscape and implications of ebooks. It notes that ebooks are an important change that libraries must address in areas like relevance to patrons, costs, impacts on operations, implementation challenges, policy considerations, and cataloging issues. Ebooks present problems that libraries must constantly work to address as the format continues to change.
El documento habla sobre las empresas comerciales. Define la empresa y su historia, objetivos, funciones e importancia. Explica la contabilidad comercial, sus registros y sistemas de control de inventarios. También cubre las obligaciones tributarias como el IVA e Impuesto a la Renta. Por último, menciona algunas estrategias de promoción y marketing para las empresas como vallas publicitarias, publicidad en TV, promociones y descuentos.
The document discusses various topics related to multimodal fluency and learning in the digital age including:
- The need to ground online learning in learning theory and pedagogy to ensure effective design.
- Different models of cloud computing like Infrastructure as a Service, Platform as a Service, and Software as a Service.
- The importance of developing skills like information literacy, digital literacy, and interpersonal skills for learning and survival in the modern world.
- Various teaching strategies like inquiry-based learning, problem-based learning, and constructivism that can be used with digital tools.
- The use of tools like Google Sites, Flickr, Animoto, and WordPress to support constructivist and problem-based
The document thanks various photographers for sharing their work through Creative Commons licensing. It references 20 Flickr photo URLs. It also thanks Matthew Hamilton and provides his website. The overall message is one of collaboration and sharing media openly.
This document provides an overview of GDP and economic growth. It defines GDP as the total market value of all final goods and services produced within a country in a given period. GDP is measured using both expenditure and income approaches. The document discusses real GDP, nominal GDP, and per capita GDP. It also covers economic growth, business cycles, and factors that influence growth such as productivity, technology, and trade. The aggregate demand-aggregate supply model is introduced as a framework for understanding output and price levels in the short-run.
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Copy of A LEVEL Business External Economic Influences on Business Behaviour (...Samson Mwaghore
This document discusses external economic influences on business behavior. It begins by outlining key economic concepts like GDP, inflation, unemployment, and exchange rates. It then explains governments' macroeconomic objectives of economic growth, low inflation, low unemployment, and exchange rate stability. The document discusses the business cycle and how businesses can adapt their strategies during periods of economic growth versus recession through pricing, promotions, and product differentiation. It also covers the concept of income elasticity of demand and how demand for products responds differently to changes in consumer incomes.
The document discusses business cycles and fluctuations in economic activity. It defines business cycles as irregular expansions and contractions in overall economic output, income, employment, etc. that typically last 2-10 years. The four phases of a business cycle are identified as recovery, prosperity, recession, and depression. Various theories of business cycles are mentioned, along with indicators used to track cycles. Methods for controlling business cycles, like monetary policy, fiscal policy, and automatic stabilizers, are also summarized.
Understand the four phases of the business cycle and explain the primary characteristics of recessions and expansions using leading, coincident and lagging indicators
Use potential output and the output gap to analyze an economy's position in the business cycle.
Understand the aggregate demand and aggregate supply curves, and factors causing their shift
The document discusses the business cycle, which refers to periodic fluctuations in economic activity between periods of expansion and contraction. It provides details on the key phases of the business cycle according to various economists, including expansions, peaks, recessions, troughs, and recoveries. Various theories that attempt to explain the causes of the business cycle are also examined, such as Keynesian, real business cycle, and political business cycle theories. Fiscal and monetary policy approaches to addressing recessions are further outlined.
The document provides an overview of macroeconomic concepts including the circular flow of income, aggregate demand, aggregate supply, macroeconomic problems like inflation and unemployment, macroeconomic policy objectives and instruments like monetary and fiscal policy. It defines key terms and concepts and outlines the relationships between different macroeconomic variables and sectors of the economy at a high level.
The document discusses key concepts in aggregate demand and demand-side stabilization policies according to the Keynesian model. It defines aggregate demand and its components. It then explains the Keynesian model's goal of using fiscal policy tools like government spending, taxation, to increase or decrease total demand and stabilize GDP and unemployment. The multiplier effect is discussed as how a change in spending can impact GDP multiple times through subsequent rounds of consumption. The relationships between income, consumption, savings, and how these determine the multiplier are also summarized.
The document defines inflation as a persistent increase in general price levels in an economy. It discusses the main causes of inflation including demand-pull, cost-push, and structural imbalances. Demand-pull inflation occurs when aggregate demand increases due to factors like rising incomes and investment. Cost-push inflation occurs when costs of production rise due to increasing input costs like wages and commodities. Inflation affects different groups in various ways - fixed income earners lose purchasing power while borrowers benefit from inflation. The government typically gains tax revenue during inflation. The document outlines various monetary and fiscal policy tools used by the RBI and government to control inflation.
This document defines inflation and discusses its causes, effects, measurement, relationship to unemployment, and control measures. It outlines several theories of inflation including demand-pull, cost-push, and structural inflation. Causes of each type are described. The document also discusses measuring inflation through price indices, the difference between the WPI and CPI, core inflation, and reforms to the CPI. The effects of inflation on different groups like fixed income classes, borrowers, lenders, producers, and the government are analyzed. Fiscal and monetary policy measures to control inflation are outlined. India's inflation rates from 2012-2014 are reported.
This document provides an overview of key concepts in business and economics. It defines business as organized efforts to produce and sell goods and services for profit. It discusses different economic systems like capitalism, socialism and communism. It also covers factors of production, demand and supply curves, economic indicators like GDP and unemployment, and how governments can influence economic growth through fiscal and monetary policy.
The document contains multiple choice questions related to economics and law. It includes questions about macroeconomics concepts like general equilibrium analysis and the factors considered. It also asks about the phases of the business cycle and reasons for state intervention in the economy. Other questions cover topics like business cycle turning points, factors affecting inflation, types of inflation, and economic terms like GDP, recession, and FMCG.
This document discusses key concepts in engineering economics such as time value of money, interest rates, cash flows, and economic policies in India. It provides an overview of simple and compound interest, and how interest compounds over time. It also summarizes India's economic policies including fiscal policy, monetary policy, liberalization, privatization, and globalization implemented since 1991. These reforms aimed to make the Indian economy more market-oriented and expand the role of private and foreign investment.
The economic environment refers to all economic factors that influence business operations. It determines the inputs businesses need and the markets to sell finished goods. Key elements include gross national income, GDP, inflation, unemployment, poverty levels, and the type of economic system - whether it is a market, command, or mixed economy. Managers must assess the economic environment to make investment and strategic decisions that account for local conditions and predict future performance.
Monetary policy is a set of tools that a nation's central bank has available to promote sustainable economic growth by controlling the overall supply of money that is available to the nation's banks, its consumers, and its businesses.
1) The document discusses concepts related to aggregate expenditure and aggregate demand, including consumption, investment, government purchases, and net exports. It provides exhibits showing relationships between these components and income.
2) The spending multiplier effect is discussed, where a change in autonomous expenditure is amplified into a larger change in output and income. The multiplier is calculated as 1 divided by 1 minus the marginal propensity to consume.
3) Aggregate expenditure is determined by adding consumption, investment, government purchases, and net exports. Equilibrium output is reached where aggregate expenditure intersects the 45-degree line on a graph of expenditure and income.
This document outlines the contents and key concepts from a module on strategic planning and the economic environment. It discusses how a company's revenues and costs are affected by macroeconomic factors. It also covers understanding economic indicators, supply and demand dynamics, unemployment, inflation, and the international economy. Forecasting methods and tools for environmental scanning like PEST and scenario planning are presented to help analyze threats and opportunities in the economic environment. The module aims to help managers interpret economic information and incorporate it into strategic decision-making.
This document provides information on key macroeconomic concepts and metrics including:
1. It defines national income as the net value of all goods and services produced by a country's residents during a financial year.
2. It explains the importance of studying national income for economic policy, planning, understanding economic structure, and more.
3. It distinguishes between national income measured at current prices versus constant prices, and how this impacts understanding economic growth.
4. It provides definitions and explanations of related concepts like GDP, GVA, business cycles, aggregate demand, aggregate supply, and more.
UNIT – V
Business cycles – National income, monetary and fiscal policy – Public finance. TRIM‟s- Intellectual Property rights – TRIP‟s – Industrial Sickness – causes –remedies
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
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Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
2. Economics in General
The performance of the securities markets is strongly tied to the
overall performance of the economy.
• A growing and stable economy over time has a positive impact
on the equity markets.
• Bond market activity is strongly tied to the level and uncertainty
of inflation and interest rates.
• The economy has an impact on how many people work, how
much they spend, how much product companies sell, and how
high inflation and interest rates will be.
• These are the factors that determine investment returns.
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3. Overview
Microeconomics versus macroeconomics
Microeconomics:
• The market behaviour of individual consumers and firms.
• How the price levels creates or leads to market equilibrium.
• The impact of minimum wage laws on the supply of labour and
company profit margins.
• Taxes on imports and the impact on industry profitability.
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4. Overview
Microeconomics versus macroeconomics
Macroeconomics:
• The performance of the overall economy – the ‘big picture’.
• Measuring output through GDP and GNP.
• How changes in unemployment or inflation impact economic
performance.
• How a nation’s standard of living has changed over the last
business cycle.
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5. Overview
The main decision makers in the economy:
• Consumers
• Firms
• Government
What role do each play and how do they interact?
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6. Overview
Goods Markets:
• firms decide what to produce
• sell their output of goods and services
Factor Markets:
• consumers sell their ‘factors of production’ labour
• earn wages used to buy goods & services
Where are these decisions coordinated?
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7. Demand & Supply
The interaction between demand and supply leads to market
equilibrium in the economy.
Market Demand
• consumers, all purchasers of goods and services
Market Supply
• suppliers of goods and services
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8. Demand & Supply - Discussion
What role do price and quantity play for the:
- Law of Demand
- Law of Supply
Explain each using a real world example.
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9. Demand & Supply
Law of Demand
• as the price of a product rises, quantity demand falls
• as the price of a product falls, quantity demand rises
Law of Supply
• as the price of a product rises, quantity supplied rises
• as the price of a product falls, quantity supplied falls
What is the main trigger for market equilibrium to occur?
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10. Measuring Economic Growth
Measuring the Economy
• Gross Domestic Product (GDP):
Value of all goods and services produced within Canada’s
borders
• Gross National Product (GNP):
Value of all goods and services produced by Canadians
anywhere in the world
What was Canada’s GDP for the most current year?
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11. Measuring Economic Growth
GDP versus GNP
ABC, a Canadian company, manufactured $70m of output last
year in the following way:
• $50m was manufactured in Canada
• $20m was manufactured in Sweden
What amount will be recorded as part of Canada’s GDP? GNP?
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12. Measuring Economic Growth
GDP versus GNP
What amount will be recorded as part of Canada’s GDP? GNP?
Canada
GDP = $50m produced within Canada’s borders
GNP = $50m + $20m
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13. Measuring Economic Growth
Components of the expenditure approach:
• Consumption
• Investment
• Government Spending
• Net Exports
GDP = C + I + G + (X – M)
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14. Measuring Economic Growth
How does an economy grow?
Causes of GDP Growth:
• Population growth
• Rising productivity
• Technological innovation
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15. Real GDP versus Nominal GDP
• What does nominal GDP represent?
• How does Nominal GDP differ from Real GDP?
• Is an increase in Nominal GDP always good for the economy?
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16. Real GDP versus Nominal GDP
• Nominal GDP is based on current prices, or the prices that
prevailed in the same year
- reflects the change in the size of GDP and the impact of price
changes
• Real GDP corrects for the effects of inflation
- a better measure of the overall performance
- a purer measure of changes in the amount of output produced
during the year
- isolates the change in output attributed to price changes (or
inflation)
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17. A Typical Business Cycle
GDP
Rising Trend in GDP
Expansion
Peak Contraction Recovery
Expansion
Trough
Time
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18. The Business Cycle
Describe the key features of each phase of the cycle:
• Expansion
• Peak
• Contraction
• Trough
• Recovery
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19. The Business Cycle
Expansion
– Stable inflation, and the economy steadily expands
– Adequate inventory levels to meet consumer demand
– Rising corporate profits and stronger stock market activity
– Steady or falling unemployment rate
Peak
– Demand begins to outstrip capacity and inflation increases
– Rising wages and interest rates
– Business sales decline, and inventory levels rise
– Stock prices fall and general market activity declines
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20. The Business Cycle
Recession
– Level of economic activity declines
– Businesses postpone capital investments and profits fall
– Consumers spend less and increase saving
Trough
– Bond market rallies as rates begin to fall
– Consumers start spending again
Recovery
– GDP returns to its previous peak, & business investment rises
– Unemployment may remain high, but inflation is set to fall further
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21. Economic Indicators
Leading Indicator: Peak and trough before the overall
economy – anticipate emerging trends
Example: housing starts
Coincident Indicator: Change at same time and in same direction
as the economy – info on the current
position of the economy
Example: GDP, retail sales
Lagging Indicator: Change after the economy changes – used
to confirm a business cycle pattern
Example: Unemployment rate
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22. Interest Rates
Interest is:
• Economic rent for a scarce resource (money)
• For business owners it is a component in the cost of capital
for production
• For consumers it is the “price” of credit for consumption
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23. Interest Rates
Interest rates vary by:
• Duration/term of loan
• Conditions of the loan
• Creditworthiness
How do higher rates impact the economy?
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24. Interest Rates
How do higher rates impact the economy?
• Increases the cost of capital for businesses and leads to lower
business investment.
• Discourages consumer spending on durable goods and other
commodities.
• May lead to a general economic slowdown.
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25. Determinants of Interest Rates
• Demand and Supply of Capital
• Default Risk
• Central Bank Activities/Credibility
• Foreign Developments – Interest Rates/Exchange Rate
• Inflation
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26. Inflation
A generalized, sustained trend of rising prices.
- usually an indication of growth in the money supply
- economic expansion
- increase in demand without corresponding change in supply
Can lead to:
- investors demand a rate of return that protects them from the
erosion of their purchasing power
- pressure on wages and other variables
…Why are rising prices considered ‘bad’ for the economy?
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27. Inflation & the Consumer Price Index
Using the CPI to measure inflation:
• Tracks the retail price of a basket of goods to reflect typical
consumer spending
• Measures the ‘average’ price level for a consumption bundle
• Compares the CPI in the current period relative to a base year to
arrive at the inflation rate for the year
• If CPI is currently 130 and the base year was 120, what does this
imply?
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28. Inflation
Costs of Inflation
• Erodes standard of living for those on a fixed income
• Erodes purchasing power or forces investors to demand higher
returns
• Higher interest rates slows growth
• Increases the cost of debt servicing to individuals, corporations
and governments
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29. Growth in the Money Supply
• In the short-run, higher money growth lowers interest rates, and
increases economic activity
• In the long-run, money growth is fully reflected in changes in
inflation
• If money grows 10% and the supply of goods and services grows
5%, inflation will be 5%.
• There is evidence that unemployment can be reduced in the
short-run by increasing inflation at a faster rate (Phillips curve).
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30. Growth in the Money Supply
The Output Gap
• The difference between real GDP and potential GDP
• Potential GDP = what the economy is capable of producing when
its existing inputs of labour, capital, and technology are fully
employed at their normal levels of use.
- (the BoC does estimate potential output levels)
Negative Output Gap:
• When actual output is below potential output - spare or excess
capacity.
• Increased demand does not result in inflation.
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31. Growth in the Money Supply
Positive Output Gap:
• Economy is operating above its potential:
- actual output (GDP) > potential output
• Strong consumer demand for goods and services.
• When companies continue to operate above capacity, they can
raise prices in response to this demand.
• leads to demand-pull inflation.
• A scarcity of resources can lead to cost-push inflation.
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32. Disinflation vs. Deflation
Disinflation Deflation
A decline in the rate at which A sustained fall in prices - the
prices rise – is a decrease in the annual change in the CPI is
rate of inflation. negative year after year.
Prices are still rising, but at a Deflation is just the opposite of
slower rate. inflation.
Captured through the Phillips Problem: sustained falling prices
Curve and the sacrifice ratio. could lead to a decline in
corporate profits.
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33. Labour Markets
Economic performance directly affects the labour market.
Indicators:
• Labour Force: sum of the working age population who are
employed or unemployed.
• Participation rate: the % of the working age population in the
labour force.
• Unemployment rate: the % of the labour force unemployed
but looking.
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34. Types of Unemployment
Cyclical
• fluctuates with the business cycle
Frictional
• result of normal labour turnover
• have the proper skills to find a new job
Structural
• when individuals can’t find jobs due to outdated skills
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35. Labour Markets
• Is an unemployment rate of 0% possible? Why or why not?
• What stops the economy from moving to such a position?
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36. The External Sector
• Exports accounted for just over 44% of GDP in 2006.
• Interestingly:
– Canada exported about 80% of its goods to the U.S. and
imported about 70% of its goods from the U.S.
• What this means: the performance of the Canadian economy is
strongly tied to the performance of the U.S. economy.
• The balance of payments is used to track the economic
transactions with the rest of the world over a given time period.
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37. Current Account
• Records the exchanges of goods and services between
Canadians and foreigners, the earnings from investment income,
interest, and dividends and net transfers such as for foreign aid.
• Deficit implies Canadians are spending more on foreign goods
than they are selling – imports are higher than exports.
• Surplus implies Canadians are selling more to foreigners than
buying abroad – exports are higher than imports.
• There is a link with the capital account.
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38. Capital Account
• Records the financial flows between Canadians and foreigners
related to investments by foreigners in Canada and investments
by Canadians abroad.
When a country runs a current account deficit, the shortfall
financed from foreign sources by:
• Selling assets
• Borrowing funds
Both of these activities are captured through the capital account.
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39. The Exchange Rate
Why it’s important:
• The external value of a nation’s currency impacts the volume of
trade.
• As the C$ rises in value against a trading partner the volume of
exports falls and the volume of imports rises.
• As the C$ falls in value against a trading partner, the volume of
exports rises and the volume of imports falls.
– Can we explain these relationships using the current
behaviour of the C$ vs. the US$?
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40. The Exchange Rate
Determinants of the Exchange Rate:
• Inflation differentials
• Interest rate differentials
• Current account
• Economic performance
• Public debt and deficits
• Political stability
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