Economics

The Economic Perspective Author’s Name Institutional Affiliation The Economic Perspective I am currently pursuing Microeconomics. I have always aspired to comprehend how people, businesses, families, and the entire society allocate the available scarce resources to meet their never-ending needs. I desire to make significant decisions on matters affecting our country’s economic status in the future. For instance, I would like to advise the president on the financial state of the economy. Hence, enrolling in this course is the best decision because, in the end, I will be able to use the acquired knowledge to help people make sound economic decisions. Also, I would love to further my studies...

Assignment – Economics Names Institution Assignment – Economics Using the Demand-Supply framework, explain why the prices of essential goods such as water and milk increase during a natural disaster. During Natural disaster, it is expected that the essential commodities like milk and water are very scarce since their availability is very minimal and the marginal cost leads to the firms producing less output. Therefore, the supply curve shall shift to the left side. With an increase in marginal cost at the present price, the producers will find that price being lower than the marginal cost. Price of Water Quantity of water during drought Graph 1: A graph of Price of Water against...

Name Tutor Course Date Macropoland Different policies are adopted by governments that hope to maintain continuous economic growth as well as save economies that are failing. The policy to be adopted in a particular economy is dependent on the causes of deterioration economic growth. Micropoland is an economy that is suffering from the recession which has also resulted in a reduction in the levels of consumption. It has also resulted in high levels of unemployment, and this can be remedied by focusing on expansionary monetary and fiscal policies. The economy can be revived by applying expansionary monetary policies. Monetary policies are applied by the central bank and are geared toward...

Name Instructor Course Date of Submission Monetary and Fiscal Policy: Case Study of Macropoland A recession generally means that there is very little economic activity in a country based on the little circulation for investment. All the activities that the government should conduct should be pegged around increasing the supply of money in the economy. Since the economy is in doldrums, the economic policy that I would prescribe to the president would include a blend of the expansionary fiscal policy and expansionary monetary policy required to raise the overall level of the aggregate demand in the economy (Cregger 4). In consideration of the role played by the government in the situation,...

Name Course code Instructor Date How culture affects the economy The study relating culture to economic growth has been ongoing for a long time. Max Weber, a German-based social scientist in the early 20th century, was among the first people shed more light on how culture and religion which constitute a huge part of culture can affect economic development. He compared the Protestant culture which was based on work ethics and the pursuit of wealth as a duty which made them more successful as their Catholic counterparts which lacked cultural values that promoted economic growth (Hezel 1). According to the Cambridge English Dictionary, a culture is considered as a way people live entailing the...

Economic theory Name Institution Economic theory Every individual has various necessities in their life and therefore, to reach to the particular needs, different strategies should exist in place. For instance, the understanding of the economic trend and the identification of multiple opportunities provides a base for the attainment of the different needs. Therefore, realization from this work reveals how economic concept or thesis will assist me through the process of attaining the need to be rich in the society. Solow-swan theory involves a scheme connected economic development through an extended duration. With the ideology, the illustration presents a series of capabilities that...

Name Tutor Course Date US Current Economic Conditions Crude Oil The U.S field production of crude oil has been relatively constant over the last five years. However, the production has continuously been increasing in 2018 with the decline in September 2018. The crude oil production is expected to rise in the next months as the economy is recovering fully from recession (Amadeo 1). The economy, however, faces significant risks due to the volatility of the crude oil prices which can affect the economy at great lengths. The US government need to put in place a monetary policy instrument aimed at controlling inflation such as open market operations as a rise in crude oil prices would bring about...