A detailed analysis of the prospects for the UK economy in 2012 from Geoff Riley at tutor2u. Among the key themes explored by Geoff are:
Are we already back in recession?
A damaging legacy from the slump
Have policies lost their effectiveness?
Macro fragility in a world of external shocks
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19 unsung independence heroes we all needed to knowNews World India
The 15th day of August is regarded with deep affection and pride for it was the day when the all efforts to liberate India were finally fruitful. Here is the list opf 19 unsung hero who foung for our independence and gave us this free india.
The entire economy is on back step due to Corona Virus pandemic. In this presention i have analysed the impact of COVID on various sectors of the economy.
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On November 10, 2011, the chapter hosted Dr. Dick Stevie, Chief Economist for Duke Energy, and Dr. George Vredeveld, Alpaugh Professor of Economics at the University of Cincinnati and founder and Director of its Economics Center.
The entire economy is on back step due to Corona Virus pandemic. In this presention i have analysed the impact of COVID on various sectors of the economy.
The Human Development Index (HDI) is a composite statistic of life expectancy, education, and income indices used to rank countries into four tiers of human development. It was created by Indian economist Amartya Sen and Pakistani economist Mahbub ul Haq in 1990, and was published by the United Nations Development Programme.
Xiaobo Zhang
POLICY SEMINAR
Virtual Event - Evolving effects of COVID-19 on poverty and food security: What are we learning from China?
JUL 28, 2020 - 09:30 AM TO 10:45 AM EDT
On November 10, 2011, the chapter hosted Dr. Dick Stevie, Chief Economist for Duke Energy, and Dr. George Vredeveld, Alpaugh Professor of Economics at the University of Cincinnati and founder and Director of its Economics Center.
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Preparing for the AS Economics Macro Paper 2012tutor2u
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Falling unemployment, declining inflation and stronger growth – a better picture for the UK in 2014? But can it last?
After several years of weak expansion, the UK economy is enjoying a relatively strong cyclical recovery
Can the UK continued to experience a recovery in output, jobs and investment?
Will the recovery be balanced and sustainable?
How resilient is the UK? What are some of the major threats to growth in 2014 and beyond?
1. Macro environment - Global growth slowing, particularly in Europe. UK growth expected to be 1.2% this year but Brexit risks loom large.
2. Momentum - business investment declining, household spending holding up on strong wage growth.
3. Operating costs – expected to rise due to tight labour market, wage growth close to a 11-year high. Commodity prices up 12.5% ytd.
4. Corporate stance – risk appetite lowest since 2008, focus on cost reduction and increasing cash flow.
5. Balance sheet – cash rich, credit cheap and easily available, pockets of debt risk in ‘cov-lite’ sectors, profits falling.
6. Risks – effects of Brexit and weak domestic demand, rising global geopolitical risk and protectionism also a worry for large UK corporates.
Here is a recording on key aspects of Keynesian economics applied to current policy issues for the UK and other countries.
An understanding of Keynesian ideas can be helpful in evaluating macroeconomic stability in terms of prices, jobs and incomes.
Keynesians believe that free markets are volatile and not always self-correcting in the event of an external shock
The free-market system is prone to lengthy periods of recession & depression
Economies can remain stuck in an “underemployment” equilibrium
In a world of stagnation or depression, direct state intervention may be essential to restore confidence and lift demand.
Keynes was one of the first economists to criticise the profession for adhering to unrealistic assumptions
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In this revision presentation we look at recent trends in UK trade union membership, consider how trade unions can affect both pay and employment and challenge the textbook view that union-negotiated pay increases inevitably have negative consequences for employment.
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Updated revision presentation on aspects of behavioural economics and topical issues where behavioural nudges are being used to change the choices of consumers and businesses.
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
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Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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Prospects for the UK Economy in 2012
1. Prospects for the UK
Economy
A Fragile Economy at Risk of a 2nd Recession
Geoff Riley - tutor2u
2. Themes
• Are we already back in recession?
• A damaging legacy from the slump
• Have policies lost their effectiveness?
• Macro fragility in a world of external
shocks
3. Mervyn King on the UK Economy
“We are facing a difficult time
ahead with a slow and
prolonged adjustment to the
consequences of the banking
and financial crisis.”
Mervyn King, May 2011
4. Government wants a balanced recovery
Exports
Invest
ment
Balanced
recovery in
Demand
and Output
The government wants
higher exports and Achieving this looks harder
investment to kick-start a than the coalition expected
“balanced recovery”
5. Are we already back in recession?
GDP data is backward –
looking – not the best
guide to whether we
are in recession now!
20. Robert Shiller: The importance of expectations
“Animal spirits" is related to
confidence and it refers to the
sense of trust we have in each
other, and our sense of the
extent of corruption and bad
faith. When animal spirits are
on ebb, consumers do not
want to spend and businesses
do not want to make capital
expenditures or hire people.
21. The damaging legacy of recession
• Unemployment
• Productivity
• Fiscal deficit and national debt
• Rising inequality
• Slower trend growth
23. Mervyn King on unemployment
“As the experience of
unemployment continues, then
the more you have to worry
about structural
unemployment. This is the
“fundamental” question driving
our thinking about the labour
market.“
Mervyn King, November 2011
27. Professor David Blanchflower on Job Creation
David Blanchflower recommends
a payroll tax cut and a national
insurance holiday for young
people under the age of 25 for
two years to price them into jobs
and get the economy going – as
well as the creation of another
100,000 university places in
subjects such as science and
engineering.
35. Mervyn King on economic growth
“What’s important is not
whether GDP growth is +0.2 or -
0.2 but whether we have a plan
in place for how growth is going
to pick up. This is not a time to
fine tune but to think about the
next 6 or 7 years.”
Mervyn King, November 2011
36. Slower trend growth in most OECD nations
What are some of the
consequences of a
period of prolonged slow
economic growth?
39. Can policy change the cycle?
1. Cuts in policy interest rates
2. A huge fiscal deficit
3. 20% £ depreciation
4. Quantitative Easing
5. Credit Easing
6. Project Merlin
40. Why might policy be ineffective?
Weakness in
Business economies Deleveraging
Fragile
Cash of our in financial
Confidence
Hoarding trading system
partners
42. Krugman: Keynes and the Liquidity Trap
Keynes understood the
role of monetary policy
well. He argued that there
were situations in which
monetary policy could do
no more — and that the
world economy he lived in
was facing such a
situation.
Paul Krugman, NYT, Oct
2008
45. Some Sources of Domestic UK Fragility
• Fragility of the UK economy
– Higher inflation & wage cuts hitting real incomes
– High level of household debt left to be repaid
– Probability of new wave of asset price deflation
– Credit constrained businesses especially SMEs
– Fiscal austerity plans at high risk of failure
– 700,000 estimated job cuts in the public sector –
will the private sector generate many more?
– Export industries at risk from Euro Zone crash
46. Banks cut their lending
Much bank lending
is skewed towards
real estate
Not enough to
manufacturing
businesses
48. Mervyn King on the banks
“I don’t think the banks are
being deliberately obstructive.
They are just in the position
where their own balance sheets
are so weak that they can’t
lend,”
Mervyn King, November 2011
50. Many businesses exposed to revenue cuts
A second recession
would cut
revenues, profits
and cash flow.
Many businesses
are exposed to the
risk of a second
demand shock in
the UK economy.
Important for
policy makers to
respond to this
51. 5 Long Term Constraints on UK Growth
Weaknesses in education &
training outcomes
Low research and development
spending as a share of GDP
SLOW
Volatile and regressive housing
sector hit labour mobility
Growth Few small/medium businesses
export to emerging countries
Ahead High long-term unemployment
52. An optimistic note on which to finish
Half of the components in the Airbus 380 are designed and
manufactured in the UK. The fuselage comes from Germany and
the French assemble and screw the pieces together!