Day: October 22, 2020

Neoclassical Economics Theories – Definitions and Models

Introduction Based on their core assumptions and ideologies, the Neo-classical economists have come under different critiques and their theories have been questioned. Notable works of the neoclassical such as the theories of asset specificity (Williamson, 1985); information incompleteness and asymmetry (Stiglitz, 2000); and contested exchange (Bowles, 1988) have face challenges from empirical test and critics. …

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The New Consensus 3-Equation Model – Strength and Weakness

DISCUSS THE STRENGTH AND THE WEAKNESS OF THE NEW CONSENSUS 3-EQUATION MODEL There has been a great deviation from the AD-AS or IS-LM-AS approach in the intermediate macroeconomics. The reason for this is not far-fetched as students are unable to use the model to explain the economic processes of a shift from one equilibrium to …

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How the Black Community can Achieve Economic Development

Ideal Situation An ideal community that is free of poverty or suffering is a utopia. An economically powerful Black community is thought of as a utopia where the imagination of achieving such empowerment is considered as a thought experiment. However, progress will start with such wishful thinking(an idea/ imagination). When it comes to wealth generation, …

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Effects of IMF Intervention on Ukraine’s Economy

Introduction In an attempt to assist in overcoming the economic crisis facing the nation of Ukraine, the International Monetary Fund (IMF) in April 2014 gave a conditional loan of $ 17.01 Billion (IMF, 2017). This intervention came with the objective of attaining external and economic stability, sustainable economic growth and strengthening economic governance and transparency …

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The US Automobile Industry – Economics Report

1.     Introduction: To conduct the industrial analysis and understand how the firms in an industry operate, the US automobile industry was chosen. The report presents a brief introduction of the industry and discusses the major economic behavior and indicators in that industry. The types of the products, demand and supply factors, level of concentration are …

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The US Housing Markets Bubbles During 2000’s

Introduction: Housing Prices, Bubbles, and Financial markets during 2000’s From the period of 1997 to 2006, U.S. housing prices rose around 188%. By the end of 2009, housing value however had fallen by 33%. As United States policy makers came up with new measures in housing-finance system. The macroeconomics indicators suggest that bubble situation in …

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Economic Market Analysis of Victoria Bitter

Introduction Australian brewing and beer industry has been associated with the most ancient manufacturing art for the development of the product. The product selected to conduct the market analysis is ‘Victoria Bitter’ (VB) manufactured by the Carlton and United Breweries, subsidiary of Fosters Group (Jones & Morgan, 1994). The particular Australian beer brand is the highest …

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Gambling Addiction and Consumer Behavior Theory

Microeconomic theories of consumer behavior indicate that consumers want to maximize their individual utility and producers want to maximize their profits. In the case of gambling, casinos are profit maximizing organizations. Casinos want to attract more gamblers and specially those who gamble more money in order to increase their own profits and for this purpose …

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