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Macro & Microeconomics Admission/Application Essay

Thinking like an economist: The basic vocabulary of the field
In most cases, there is a need to assess the costs and benefits of the options taken, and the benefits of foregone opportunity. When I choose the alternative of going to work, it means I have to give up college education and forego the opportunities that go with it.Let us take an example of my personal opportunity cost in taking this through some assumptions. Suppose that the amount of going to college for one year is $5,000. In assessing the opportunity cost, we must add to $5,000 the amount
Pages: 4 (1000 words), Admission/Application Essay
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Production, Costs, and Profits
Article “Maquiladoras: Impact on Texas Border Cities” apply the marginal decision rule to the problem of choosing the mix of factors or production (capital intensive vs. labor intensive methods of production)? How do maquiladoras benefit the U.In making a marginal decision, let us not forget that the firm always seeks to produce products at the lowest cost as possible. In this context, the maquiladora should decide what mix of capital or labor it should use in its operations. As an
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Fiscal Policy: Government Expenditures and Revenues, Budget, National Debt
As government invests in the crucial sectors of the economy, one can observe that government expenditures have been increasing over time. In the year 2009 it was seen that the federal government had spent $3.518 trillion which accounted for 24.7 percent of GDP for that particular year (Arnold, 2010, p. There are several areas where the federal government directs its expenditures. They are consumption expenditures, transfer payments, social benefits of governments, social security schemes,
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Development Economics
This creates the cause of concern and the need to introduce positive reforms in some of the developing countries.It is indeed true that most developing countries crave about development and aspire to attain the development standards evidenced in the West and in other Eastern countries (Debraj 78). Such development is however hampered by several limiting factors that should always be addressed. Considering Kuznets’s view on developing countries, economic development should never be the
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Disadvantage/Economic Hardship Addendum
I believed that my surroundings would be a continuous source of inspiration, and help me to focus more on my objective.Studying at the UCLA library was one of the best choices I have made. The continuous sight of students, working hard for their own exams, motivated me and I pushed myself harder than ever. My daily study hours increased from three or four to almost seven. And I could tell that I was working extremely hard, as my LSAT score kept on rising every week. Although I had still not
Pages: 6 (1500 words), Admission/Application Essay
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Government role in economic growth
The financial market regulates the amount of money in the economic model while the government influences the amount of money in circulation at any given time in the economy. The control is essential since it influences the rate of spending in the nation.In a capitalism economy, the main focus is on the macroeconomics policies that the government applies to control the economic growth. The policies that the government employs can control inflation, money value, unemployment levels, foreign trade
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An Analysis of the Movie Inside Job, Documentary - the US Crisis

After the enactment of laws by the Congress which led to the of the financial crisis, the laws were enacted in a way that they would prevent a future economic crisis. Meanwhile, the Republicans argued the bill creates a more intrusive government, and it fails to prevent the future of ballots which would cause another financial crisis.

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Monetary Policy (EC1004 Topics in Applied Macroeconomics)
Before financial crisis, monetary policy in the Bank of England had some influences on the principle that supported on by most of macroeconomists pertaining to macroeconomic ebbs and flows that devalued the role of monetary factors. Before financial crisis, there was a consensus that expansionary monetary policies would be followed by increased inflation and at the same time an increase in the interest rates. The consensus led to the formation of the famous maxim “inflation is always and
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Monetary Policy of the United Kingdom and Kenya
Stability of prices in any economy enhances the good performance of market-based economy. It also encourages long-term stability and investments (Nyamongo and Ndirangu 2013). Low and stable inflation does not adversely affect decisions of both producers and consumers. Price stability creates a favourable condition for achieving sustainable employment and economic growth. High inflation rates on the other hand, cause market economy inefficiency and lower rates of economic growth. The amount of
Pages: 9 (2250 words), Admission/Application Essay
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Online shopping around the Christmas time
However, when buying items such as clothings, many customers feel apprehensive because they cannot feel the texture as compared to shopping in a retail store. Due to the availability of vast choices to choose from, customers without vast information about the products the products they need makes them waste a lot time in making a decision. Finally, instore shopping is fan to people who prefer shopping with friends and families which is not the same in online shopping (Forrester 2010).Christmas
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Choose any three of the websites write the summary of each
Instead, he suggests that this will result in an advantage for selfish individuals over others in society who may be more altruistic compared to the free riders. With regards to avoidance of common resource over-exploitation, the author concludes by claiming that freedom involves the recognition of necessity, suggesting that the tragedy of the commons is completed by this freedom. Thus, by recognizing that resources are held, in common, to begin with, as well as recognizing that they need to be
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Trends in the cod market
With the decreasing population of cod, many fishermen expect that in the near future the cod will not be in existence. This expectation has increased their attempts to get better catches and improve their customer’s high levels of demand.On the other hand, favorable tastes and preference towards the codfish have also led to the increase in the demand of cod. In this perspective therefore, the fish steak in most countries including Europe have preferred to use the cod fish in most of their
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Is foreign trade getting better or worse in the United states?
The US foreign and domestic policies, as well as society and economics, have changed over the years. However, the trade policy remains as mired in the 20th century. It is also evident in TTIP and TPP negotiations and their outcome. Some things such as Americans trade policy can not go well with age. Because of this, there are problems that it is associated with in the international trade.First, US trade policy is an economical ignorant. Adam Smith penned "The Wealth of Nations" which brought
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Assignment 2
Market failure can also be associated to the externalities arising in the provision of public goods (Bulte, Kooten and Swanson, “Economic Incentives and Wildlife Conservation). In case of impure public good market failure can occur mainly because marginal social benefits exceed the marginal social costs of provision of the goods (Arriagada and Perrings 798-806).In case of impure public goods two types of externalities can be associated. The first one occurs when the supply function fails to
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Impure public goods and biodiversity conservation
There are two forms of externalities associated with impure public goods, positive and negative externalities. Positive externalities arise when the actions of one individual affect others positively. For instance, if by dumping kitchen waste into a water body one’s action boosts fish production for public fishing then the externality becomes positive. On its part, negative externalities usually arise when the actions of one individual or a group of individuals harms or prevent others from
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Read questions and write answer about a few sentences.
The company being a financial service provider competes with many other financial institutions ranging from the major international players to other local players. Barclays bank, Standard Chartered Bank among others are its competitors.A business analyst performs duties that engage analyzing businesses and ensuring that they are in position to operate and provides positive results to the investors. A business analyst tries to establish the position of the business and find possible solutions to
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Economic analysis
However, a fall in housing price may reduce the amount of mortgages offered significantly, hence leaving banks with higher amounts to offer other loans. The impact of excess reserves would be a reduction in interest rates and hence stimulate borrowing and investment. Nevertheless, the amount of money borrowed depends on consumer choice and availability of investment ideas. Production in United States is almost at its optimal, any additional investment is associated worth a lower marginal
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Health Economics
It is made up of two legislative part- the Health Care and Education Reconciliation Act of 2010 (P. 111-152) and the Patient Protection and Affordable Care Act (P. Together, these two legislations expand Medicaid coverage to millions of low-earners in America and to large extent has helped improve Children’s Health Insurance Program (CHIP) and the Medicaid program.There are quite a number of changes that were made to Medicaid and CHIP, and in the beginning of 2014 these implementations took
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Economic Impact of Quantitative Easing in the United States
According to the economist John Maynard Keynes, individuals prefer liquidity because of three motives, which are precaution, speculative and transaction. Liquidity refers to the cash. Under transaction motive, individuals and firms participate in many transactions in a single day. Therefore, they would want to hold cash to purchase goods and services. Second, individuals and firms will prefer liquidity because they want to keep some money for emergencies and accidents. The amount of money
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Masters of economics the new school for social research in new york city
In the past, I have worked in the field of economics where I played the role of an economist. In my current department, I have worked with people who have professional qualifications in economics. For example, I have worked with PhD holders who have diverse experience. The professionals have worked in international organizations such as the World Bank, and other international agencies such as the Asian Development Bank. While working with these colleagues, I have gained immense exposure and
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