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Sustainable Development and Economic Growth? Essay

… It must integrate the best thoughts that are from the market economy nonetheless stress collaboration rather than competition (Hennicke, 2005). Experts believe that they need a shared principle that gives all people the chance to understand one's potential, within the natural boundaries of earth (Hettiarachchi, 2012). Experts that only then people can start to trust that there will someday be enough cake for everyone to have

In conclusion, it is clear that 'economic growth' does indeed constitute a crucial element of 'sustainable development. With a worldwide economy, it is on right that people need to rethink the fundamentals of economics for the reason that with the monetary organization we are given with in these times, sustainable development and economic growth will not be able to…. [read more]

Economic Integration of GCC Countries: Latest Developments Since 2010 Essay

… This indicator is inopportune when focusing on other indicators.

There is also a dangerous debt in non-oil producing countries. They have no choice but to implement the policies. Countries like Bahrain, Saudi Arabia, and Oman are facing pressing challenges when it comes to labor. In these countries, national workforce has been rendered inopportune to deliver since foreign labor (with better services at cheaper rates) especially from India and Africa have recently flocked the labor market. Therefore, GCC is currently pursuing policies, which will seek to replace foreign workers with local workers. To accomplish this, GCC is advising member states to pursue a combination of mandatory of market-based and as well, policies which will seek to promote non-oil economic growth.

Although the population of the GCC…. [read more]

Financial Development and Economic Growth Term Paper

… We will then examine as to what extent the development in the financial markets of both the countries have contributed to their economic growth. To measure the effect of financial development, we will make use of regression analysis by assuming that economic development is directly related to the financial development of an economy or in other words economic growth is dependent on the financial development of any country.

To analyze the relation of economic growth with financial development, we will measure the increase or decrease in GDP of both the countries with the increase or decrease of their stock market size (or investment in stock market). Even though, GDP and stock market size of any economy are not the sole indicator of its economic or…. [read more]

Economic Development Term Paper

… Economic Development

The objective of this work is to define precisely what economic 'development' is through making an examination of the relationship that exists between economic development, economic growth and income. The question that will be answered are those of: "How would one characterize the importance of UNDP's Human Development Index (HDI) and the UN Millennium Goals (MDGS) This work will also discuss and analyzes some of the characteristics that are inherent in rapidly growing economies.


Economic development is the term used to refer to the "development of the economic wealth of countries or regions for the well-being of their inhabitants." Economic development is evidenced when an increase in living stands is sustainable which "implies increased per capita income, better education and…. [read more]

Economic Development Agency Essay

… With respect to the activities of the organization, such measure would include; putting into place appropriate mechanisms for the implementation of the program, involving enough resources into their activities, advocating for the formulation and implementation of laws that would aid them in accessing proper information and using diverse mechanisms in obtaining the data they need in their mission. They state, on the other hand, ought to act on adequately their role of facilitating the performance of such development conscious organization. The state should, in light of cases like this, go a little bit slow in regards to the laws they implement in restricting access of information by such agencies.

With reference to putting into place appropriate mechanism for setting up their operations and achieving their…. [read more]

Economic and Trade Development Thesis

… Economic and Trade Development

The economic situation of Western Europe was faring extremely well in the first thirteen years of the 20th century following the Industrial Revolution. However, the growth of Nazism and Fascism followed by the World Wars and the Great Depression plunged most of the major European states particularly Germany and France into a seemingly irretrievable economic situation. What happened in Western Europe after the Second World War was an exceptional case of economic turnaround with a remarkable and swift pace of transformation to an industrialized society. This exceptional growth lasted only until 1973 but in this short span of time, it placed the Western Europe economy at par with other industrialized economies of the world despite the phenomenal destruction of men, materials…. [read more]

Economic Challenges Canada Term Paper

… Despite major setbacks, the overall economy in Canada has improved in the past few years, especially in 2004. The year 2003 was a particularly weak year as a result of the sharp appreciation of the Canadian dollar and other transitory shocks. According to recent research, the economy is expected to expand by around 31/2 per cent in 2005 (Environmental Practice and Performance of Canadian Business and Industry, 2003). The 2004 budget reflected the federal government's continuing commitment to achieving balanced budgets or better and reducing public debt, a strategy that has met widespread public support. Real GDP rose 3.2% in the third quarter of 2004 following a 3.9% gain in the second quarter (The Economy in Brief, Department of Finance Canada, 2004). Domestic demand grew…. [read more]

Economic Impacts of Regulation Essay

… These distributional impacts usually drive the competition of different interests groups. This in turn, leads to the determination of the regulation nature through the political process.

Summary and Conclusion

Regulation is a written instrument that contains rules with the force of law. Regulation has a substantial impact on the economy. A wide range of literature review exists which put across the impacts of regulation on the economy. Some of the impacts of regulation on the economy include increase and decrease in prices of products, increased employment opportunities and improved health care for workers as well as children. It is good to put into consideration that weak or lack of regulations can be a significant threat to employment and the economy at large. Concerning this, it…. [read more]

Economic Indicators Assessment

… Economic Indicators

Savings Rate

Economic Indicator- the savings rate is the income that is not spent and is instead differed for consumption. In some instances, saving can also include reducing recurring costs such as a cell phone, or cable bill. In essence, individuals preserve money now, for a predetermined use in the future. This money is usually deducted from an individual's disposable income to use for future investment. The savings rate is an economic indicator of individual's propensity to save. This has implications in regards to the overall indebtedness of the nation. It can also indicate the purchasing power available for discretionary purchases.

Rate of Value -- 3.4% as of October 2012

Source of Information -U.S. Bureau of Economic Analysis,

"United States Personal Saving Rate."…. [read more]

Economics Scenario Essay

… The commercial loan is the same except that it's a loan. These investments are the best because the government of the developing country will have a choice of spending the investment wherever they think appropriate. In this way, the government is able to keep a balance between foreign and international firms in their country. However, these investments have a setback, they put a burden on the developing country as they are a loan. They also disturb the balance of trade between countries. (What Are.., 2003)

These investments will increase the aggregate demand due to increase in investment. These investments will cause the aggregate supply to rise as more efficient ways of production will be evolved. So, the GDP of the economy will increase and the…. [read more]

Economics Is the Study of How Markets Essay

… Economics is the study of how markets work. It is based around describing the patterns and interrelations of the production, distribution and consumption of goods and services. Microeconomics is concerned with the economics of individual decision making. By understanding the rational for individual-level decisions, microeconomics helps to provide insight into the specific patterns of production, distribution and consumption that we see in society.

Two key points in microeconomics are the law of supply and the law of demand. The law of supply holds that all other things being equal, as the price of a good increases, supply of that good will increase. This is because producers can increase their profits, and produce more in order to do so. The law of demand holds that all…. [read more]

Economic Systems Term Paper

… Resource allocation issues in market or free enterprise economic system are addressed without any governmental intervention and determined by demand, supply, and competition ("Economic Systems" p.1). Furthermore these issues are handled by the unfettered interaction of individuals and firms in the marketplace that determine resource allocation and distribution of goods. While governmental intervention is minimal in this economic system, the government plays certain roles such as enacting appropriate laws, issuing money, and providing certain services.

Mixed Economic System:

This economic system can be described as an economy with a combination of command and market economic systems to provide goods and services for the benefit of all individuals. Therefore, a mixed economic system is an economy with a mixture of private and government ownership. The main…. [read more]

Economics the Keynesian Economic Theorists Term Paper

… The economic policies imply that the U.S. is ready to reduce trade deficit, find new markets for locally produced goods, increase industry, and manufacturing, increase foreign exchange, increase income through job creation, and reduce unemployment. This leads to a trickle-down effect as a reduction in budget deficit implies a reduction in trade deficit, which in turn will reduce and end currency manipulation by other major currencies like Chinese Yen. The changes in economic policies imply the U.S. will increase regulation and stringent policies on trade, public budgets, jobs, and investment with the aim of ending currency manipulation that is the cause of the decline and near death of American manufacturing.


Protectionists theory on trade policies argue that international trade contributes to the increase of…. [read more]

Define Economics Research Paper

… Models enable experiments. For instance, economists can manipulate interest rates to understand their impact or test to see if fiscal stimulus packages will produce the desired results in the economy. The model allows for more definitive statements to be made about causality (Stapleford, 2012).

There are downsides to models, however. They rely on assumptions which are often not based in reality. If the assumptions are incorrect, the conclusions drawn for models will also be invalid (Encyclopedia Britannica, 2009). Thus, it is an important task of economists to constantly refine models and compare them against actual data. By adjusting models in areas that underperform under this comparison, improvements can be made to provide strong insights and intuition into how the world works (Funderburk, 2012).

The debate…. [read more]

Economic Crisis Policies US Current Research Paper

… S. money market back to its operations by assuming that U.S. financial system had enough liquidity to expand the market operations. Fed Reserve accepted the less credit worthy securities as collateral and held safe U.S. treasuries to keep the money supply constant. These were later termed as "toxic waste removal" policies.

Fed Reserve introduces another set of program by taking over multinational insurance company American International Group (AIG) on September 2008. This program was implemented through option of purchasing asset backed commercial paper from money market mutual funds. This policy was termed as Quantitative easing by Bernake.


First the U.S. economic crisis was only of real estate and later on it developed into global financial crisis. If it is to be judged that Fed…. [read more]

Economic Analysis: The International Trade Essay

… Political and Financial Risks of International Marketing

Within the realm of international marketing, major political and financial risks often rise to the forefront. Such risks are similar to those that are taken on by traders in domestic markets, but in viewing the risks on an international playing field these risks become far more apparent with the capacity to have significant financial impact should something go wrong. For instance, countries engaging in trade in the foreign market may see such financial risks as buyer insolvency (purchaser cannot pay for the goods set up for exchange), non-acceptance (buyer rejects goods as different from the agreed upon specifications), and credit risks (allowing the buyer to take possession of the goods prior to payment) (Dutta, 2010, p. 320). These…. [read more]

Economic Systems of South Korea Term Paper

… The government also fostered development by allowing South Korea to be a destination of several global manufacturers. The government also provided impulses for foreign and local investors through expansion of its network of free trade agreements. This brought change to the country and allowed the economy to grow.

Though South Korea can be seen to rely greatly on exports it makes to emerging countries, the country also reduced its reliance on exports to Japan. This can be seen in the decline of exports to Japan from 11% in the year 2000 to just about 6% in the year 2010. South Korea also decreased its reliance on imports from Japan though they still stood at roughly over 15% in the year 2010 which indicate that Japan…. [read more]

Process of Economic Development Essay

… Economic Development

Role of Geography and institutions in economic development

Over the years, there have been debates on the role that geography of a nation or continent plays in contribution to the economy of a region. On one hand, there are scholars who argue that the geography of a location is central and plays a big role in determining the economy of a region and yet on the other hand, there are those scholars who argue that the economy of a region is mostly determined by the institutions that are within the population and how they are managed by the people in the management positions. Each side of the arguments have been quick to point out a few facts that are in support of their…. [read more]

Economic and Quantitative Analysis Topics Term Paper

… The United States has shifted in a major way on two different occasions over its existence. First, they went from an agrarian economy to an industrial one and now they are shifting to a service/knowledge foundation while the once dominant manufacturing industry in that country is becoming an afterthought except when speaking of advance/high-tech manufacturing. If someone were to analyze the United States economy over its entire existence, using a singular and fixed model would be asinine and obtuse because of these seismic changes that have occurred. Looking at the United States economy now through a year 1840 lens would be silly.

In a similar vein, looking at Nigeria now would require a certain model and that model would exhibit certain patterns and trends. However,…. [read more]

Economics a Powerful Determinant Rate Essay

… 2002). There is also one toothpaste manufacturer in Asia where he used his enterprise in extending change to the deaf-mute youth who are usually unemployed because of their handicap. He showed the world the potentials of the often neglected deaf-mute youth by hiring them and giving job training and development to become self-reliant.

There is also a group of Dutch and Southern Development actors who jointly developed a strategy and program to alleviate poverty. 'The objective of this group is to contribute towards lasting change effects towards reduction of poverty, enclosure and the well-being of children and youth driven by people and their organization' (together4change). The group invests in services and products 'to stimulate people's independent civic action towards economic and social equal positions in…. [read more]

Economics of Cost and Production Term Paper

… Economics of cost and production is a variable set of concerns that are specific to production, distribution and consumption of products. The achievement of getting a product to the consumer is a linear process and each step on the timeline requires different production and cost considerations. In general the short-term issues of production and cost involves reducing the cost of individual components, once the research and development stage has evolved to a usable product while the long-term production and cost issues can redirect economics to improve production through various means while still attempting to reduce short-term production costs. Short-term concerns are those dealing with the procurement of raw materials and potentially repurposing manufacturing machinery to meet the needs of a new product. While long-term production…. [read more]

Economic Growth. It Starts Off Essay

… ¶ … economic growth. It starts off with discussing how growth typically manifests itself in the short and long-run scenarios that come up. Changes in capacity are obvious in the long run but changes in the USE of capacity are more prevalent in the short run. In other words, how capacity is utilized and changes within the production possibilities curve is a short-run concern whereas the overall ability to make products overall would change more in the long-run.

In other words, Apple could change from 500 iPods and 500 MacBooks per run to 400 and 600, respectively. However, in the future, they could make 1000 of each with no problem but they wouldn't be able to do that in the first example. The book also…. [read more]

Economic Variables, Pull Data Essay

… It thereby measures inflation of wages and employer benefits.

The ECI is used not only by U.S. business but also by the Federal Reserve for making its decisions as wells by the Government for adjusting its employee salary (Investopedia).

The Excel sheet shows labor compensation from years 2001 to 2002. It is in percentage change and is for all fields (all Civilians). We see, for instance, a dip in salary in 2010 to 1.0 slowly climbing up to our present level of 1.7. Yet, we are still way behind the higher salary obtained in 2001 of 3.7 in both Quarters 1 and 4 of that year. By 2002, wage had dropped dramatically from 3.5 in the first Quarter to 2.8 in Quarter 4. Whilst presumably…. [read more]

Economic Policy for an Imperfect Term Paper

… What about Welfare?

Economists try to alter the market imperfections to conform to their models of efficiency in order to maximize "welfare." The effort is similar to the just price theories of the middle ages and the modern theories of general equilibrium and welfare economics. The modern economic theories are in a way just complicated versions of the older just price theory since the effort to change the real life 'imperfections' to conform to our perfect models is more of a 'religious' than 'scientific' endeavor. Maximization of welfare is too complicated a concept to be achieved by intervention; markets can achieve it in a better way.


Most models assume 'given' or 'perfect' knowledge and disregards incomplete or dispersed information as imperfection. Since most knowledge…. [read more]

Economic Way of Thinking Always Consists Term Paper

… ¶ … economic way of thinking always consists of winners and losers. Something is gained and something must be lost in an economic transaction. Economic thinking is important when modeling and creating objective thoughts, but may hamper more creative and artistic methods of thinking.

Morality is a very subjective topic and one set of morals do not apply to everyone. Unfortunately in this case, Zwolinski's defense of sweatshops is a very limited view of the world and humanity itself. His narrow minded approach to civilization suggests that he does like himself or the world at large very much, and is obsessed with monetary gain.

I disagree with Boudreaux's take on unintended consequences because the viewpoint of intention is taken from a supply side of economic…. [read more]

Economic Issue and Model Term Paper

… Big Push in South Korea

South Korea is currently one of the fastest growing economies of the globe, and this is due to four decades of sustained growth. The government of the country has developed and implemented an economic growth model based on massive exports, and a restriction of the imports. Additionally, when imports were engaged in, they mostly included raw materials and technologies, as opposed to commodities. In other words, emphasis was placed on production and exports, rather than on consumption, which constituted the backbone of economic growth in several Western economies.

While the policy of growth through exports generated economic stability and development, it also translated into a series of disadvantages. For instance, the country is highly dependent on exports, meaning as such…. [read more]

Analyzing the Economic Development of a U.S. City Term Paper

… ¶ … economic development of a U.S. city

The Economic Development of New York City

New York City is one of the most important cities in the world, its importance being granted by its numerous population and history, and by its influence on global level. The influence of New York is exerted in various fields, like commerce, finance, media, culture, art, fashion, research, education, and entertainment. In addition to this, the United Nations Headquarters is located in New York, which allows the city to present itself as an important international affairs center.

The city is located in the state of New York, on the Atlantic Coast of the U.S. The city is also famous for its neighborhoods, depicted in numerous films and TV series. These…. [read more]

Economic Development Is a Key Term Paper

… System of incentivizing workers to increase productivity was also introduced.

(Chenery) in a comparative framework for assessing performance of China in comparison to other developing countries says that China has achieved the adequate industrial structure and investment structure of a middle-income country. The author says, "In the case of China, industrialization has proceeded much further than is typical for countries of its income level." The author also attributes slow population growth in the country as a factor to achieve economic growth. Moreover he gives credit to the autarkic policies followed over three decades in China for its industrial growth.

China now has a per capita gross national income of about U.S.$4,260 (World Bank). It stands in the queue of upper middle-income countries. Now the country…. [read more]

Economic Development and Crises Term Paper

… Economic Development and Crises

The modern day economy is currently confronted with the most challenging contexts since the 1929-1933 Great Depression. The contemporaneous crisis commenced within the United States real estate sector and gradually spread out across the rest of the industry sectors, as well as across the rest of the world.

Thomas Palley recognizes the role played by the real estate bubble and the excessive debts of the American population, but argues that the crisis was also generated by a series of macroeconomic forces, such as the inadequate economic model implemented at the basis of the U.S. economy growth, or the inadequate policies which regulated the economic community. At a general level, it is observed that the modern day financial crisis has been based…. [read more]

Economics of Peru Thesis

… Economics of Peru

The focus of this work is examining Peru's economic state and to conduct an analysis which determines the optimal direction that Peru should take in country development in the near future to optimize the country's economy. This study reviews an extensive base of literature and states suggestions and indications for the country of Peru and the initiative to further develop support and boost the country's economy.


The objective of this work is to examine the economics of Peru and the challenges faced by this economy in terms of future current global economics and financial challenges. Ultimately, this work will state economic policy guidelines and describe alternative actions or solutions along with the implications of the economic situation of that…. [read more]

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