Naked Economics Essay

Chapter 1: The Power of Markets †¢What are the two basic assumptions that economists make about individuals and firms? †¢What is the role and significance of prices in the market economy? †¢What’s so great about a market economy anyway? Market allocation 3 / Assume rational utility-maximizers 6 / Opportunity costs 9 / Profit max 11 / Prices allocate resources 12 / Barriers to entry 14 / Market price, pricing decision & price discrimination 15 / Lessons of markets 18 Chapter 2: Incentives Matter †¢Explain how each of the following relates to efficient outcomes in a market economy: -adverse selection -â€Å"perverse incentives† -principal-agent problem, -the prisoner’s dilemma. Wrong incentives lead to undesirable outcomes 23 / Creative destruction 36 / Tax & govt program disincentives 38 Chapter 3: Government and the Economy †¢In your own words, explain what an externality is. †¢Besides addressing externalities, what other important and beneficial roles does government play in our market economy? Externalities 43 / Govt solutions to externalities 48 / Govt makes market economy possible – rights, laws / regulations 51 / Public goods 57 / Redistribution 59 Chapter 4: Government and the Economy II †¢What are the main reasons why government should only take a limited role in a market economy? Govt inefficiency 63 / Govt allocation vs private allocation 67 / Effects of regulation 69 / Effects of taxation 74 / Summary 78 Chapter 5: Economics of Information Wheelan explains that basic economic models assume that all parties have â€Å"perfect information.† How does â€Å"informational asymmetry† undermine our market economy? Adverse selection 81 / Firm screening 89 / Branding provides information 90 / Branding versus commodities 92 / Signaling mechanisms 93 Chapter 6: Productivity and Human Capital †¢After reading Wheelan’s argument, do you agree that Bill Gates should be so much richer than you? †¢Evaluate the following statement from p. 113: â€Å"We should not care about the gap between rich and poor as long as everybody is living better.† Human capital 98 / Job creation 103 / Effects of human capital on standard of living 105 / Productivity 107 / Income inequality 111 Chapter 7: Financial Markets †¢Explain how get-rich-quick schemes violate the most basic principles of economics. †¢What advice about investing in the stock market did you find most interesting and/or useful? Purposes of financial instruments 118 / Efficient markets & index funds 126 / Investment guidelines 132 Chapter 8: The Power of Organized Interests †¢Why have mohair farmers earned a subsidy from the federal government for  decades? Interest groups & politicians’ incentives 137 / Some regulations benefit business 142 / Tyranny of the status quo 144 Chapter 9: Keeping Score †¢Why is a nation’s GDP a good measure of its economic well-being and progress? †¢Why is a nation’s GDP a poor measure of its economic well-being and progress? GDP: importance, real vs nominal, per capita 150 / GDP growth & wage growth 152 / GDP misses social progress 154 / Recessions 156 / Fiscal & monetary policy 158 / Other â€Å"vital signs†: unemployment, poverty, inequality, govt budget, deficit, current acct, national savings, demographics 160 Chapter 10: The Federal Reserve †¢What is the primary role of the Federal Reserve? †¢What is the significance of this role? †¢What is deflation, and why is it worse than inflation? Importance of Fed 168 / Easy money causes inflation 170 / FOMC & monetary policy tools 172/ Difficulty of policy decision-making 175 / Money 176 / Inflation & effects 179 / Political pressure to allow inflation 182 / Deflation 184 Chapter 11: Trade and Globalization †¢What is the â€Å"good news about Asian sweatshops†? Benefits of trade 187 / Comparative advantage & specialization 190 / Losers from trade 191/ Protectionism 193 / Trade raises real incomes 195 / Trade benefits for poor countries 196 / Cultural homogenization 199 / Sweatshops 201 Chapter 12: Development Economics †¢After reading this chapter, what do you believe are the two greatest obstacles preventing poor countries from becoming rich? Importance of policies (vs resources) 206 / Effective development policies 208 / Exchange rates 217 / IMF 225 Epilogue: Life in 2050 †¢What economic question do you have about life in 2050? About today’s economy? About life in general?

buy custom The Competition essay

buy custom The Competition essay Our company faces stiff competition from various furniture houses in Boston, particularly Target, Wal-Mart, Bed and Bath, and Ikea. Despite the fact that the presence of these firms presents an obvious challenge to our company in terms of market share, it also reveals the presence of a large and strong unexploited market (Ereaut, Imms and Callingham 102). Nonetheless, our company intends to produce world-class furniture but at a competitive price. Competitor Profiles IKEA This is well established and internationally renowned home furnishing retailer. Recognized for its Scandinavian furniture style, IKEA has grown rapidly since it opened its doors for business in 1943. Strengths IKEA has a strong brand name that attracts a selective group of loyal customers. Moreover, it promises the same quality of products and services worldwide. Has a strong concept that is founded on providing a wide range of functional and well-designed products at low prices Has a recognized vision that aims at creating a better life for its customers Develops unique designs that are balance between quality, functionality, design and price Weaknesses Considering the size and scale of furniture business globally, IKEA finds it hard to control quality and standards. The need surging need for quality but low cost products poses a great challenge to this company. Poor communication with its other stakeholders and customers that results from the scale of business that the company operates Threats Just like other furniture store, IKEA is threatened by competitors New fashion, fads and culture Declining economies and frequent recessions Wal-Mart This is a retail store that sells a wide range f products, including furniture. Strengths Throughout the many years of operation, Wal-Mart has been able to develop a loyal employee and customer base. They sell by opening new branches in areas and countries that are often ignored by its competitors Provide its employees with flexible working hours, discounts for their purchase, health insurance and competitive wages Great pricing for its products Weaknesses For the company to keep and maintain their competitive prices, they have to buy stock in large quantities The company tends to keep more part time employees as compared to full time employees Synonymous of carrying and maintaining large inventories Trades in products from other nations with unfair labor laws Threats The impending unionization of its employees will a major impact throughout the company Current economic crises and inflation The rapid growth of warehouse retailers like Costco and our company Bed Bath and Beyond This is a company that deals with home furnishing and domestic merchandizing. This firm operates only in the United States. Strengths Diversified product range Market leadership Strong returns Weaknesses Stringiest legal proceeding in the U.S Geographic concentration Threats Slowdown in the countrys economy High interest rates in America Intense competition from established customers Competitive strategy Considering that RoomStyle is new in this market, our competitors are better than us in brand names because of the many yearss of conducting business. Therefore, in order to compete favorably, our company will employ three key strategies to create a competitive edge over the above competitors; Product quality, identity, and novelty Excellent sale attitude and high employee motivation Aggressive and innovative service options Employee education and training Each and every employee will be educated and trained not only in their fields of specialization, but also in the application and philosophy of the companys culture. Moreover, employees shall be receiving extensive information from the manager and be informed on the progress of the firm. Emphasis is being put on the extensive research into the integrity and quality of our service delivery. The companys systems and controls will be constantly tested to ascertain their high standards in serving the interests of the customers (Ereaut, Imms and Callingham(Ereaut, Imms and Callingham, 200 200). Inventory control and service costs will be monitored by the companys computer system and checked on a daily basis by management. Our strengths Unlike our competitors, RoomStyle will market its products to a specific market segment that is comprised of students and young urban professionals As compared to our competitors, our company is small in size, therefore it will be easy to run and maintain With our store-within-store initiative, we intend to establish a strong customer base Provision of a wide range of quality products at a competitive price Our threats Turbulent economic times that makes our operations difficult Well established competitors like Wal-Mart, Bed Bath and IKEA. However, we shall deal with these powerhouses by aggressively marketing our products to our target markets. High interest rates in America will affect our operation because we are a new company in the flooded furniture market. Buy custom The Competition essay

Redesigned SAT Writing and Language Test

Redesigned SAT Writing and Language Test In March of 2016, the College Board will administer the first Redesigned SAT test to students across the country. This new Redesigned SAT test looks incredibly different from the current exam! One of the major changes is the retiring of the Writing test. It will be replaced by the Evidence-Based Reading and Writing section, of which, the Writing and Language test is a major part. This page explains what you can expect to find from that portion when you sit for the exam in 2016.   Check out the Current SAT vs. Redesigned SAT chart for an easy explanation of each tests format.  Want to know even more about the redesign? Check out  Redesigned SAT 101  for  all  the facts.   Aim of the SAT Writing and Language Test According to the College Board, The basic aim of the redesigned SAT’s Writing and Language Test is to determine whether students can demonstrate college and career readiness proficiency in revising and editing a range of texts in a variety of content areas, both academic and career related, for development, organization, and effective language use and for conformity to the conventions of standard written English grammar, usage, and punctuation. Format of the SAT Writing and Language Test 4 complete passages 4 sections44 multiple-choice questions 11 questions per passage35 minutes 8 minutes 45 seconds per passage if youd like to plan your time. You will not be given only 8 minutes 45 seconds per passage – you may distribute the 35 minutes any way youd like.    Passage Information What exactly will you be reading on this Writing and Language test? Well, first, each of the four sections passages will be between 400 - 450 words for a total of 1700, so each is a manageable portion of text. One of the passages will be from a career perspective. Another text will relate to History or Social Studies. The third passage will relate to Humanities and the fourth will relate to Science. Youll also see one or more graphics in one or more of the test sections. In addition, the purposes of each passage will vary somewhat. One or two of the passages will make an argument; one or two will inform or explain; and one will be a nonfiction narrative. So, if youre a visual learner, here is an imagined example of what your Writing and Language test could look like: Section 1: A 425-word argument passage about the need for diversity in the workplace. 1 chart showing the percentages of ethnicities in healthcare. 11 questions Section 2: A 410-word passage explaining Julius Caesars reign. 11 questions Section 3: A 430-word passage arguing for an increase in nutrient-rich foods in cafeterias of Floridian schools. 1 table describing the daily nutrition of available lunches. 11 questions Section 4: A 435-word passage telling a story about a specific doctors use of robotics in her surgical procedures. 11 questions Writing and Language Skills Tested Youll have 44 questions; might as well figure out the skills those questions are designed to measure! On this exam, you should be able to do the following: Development: Add, revise, or retain central ideas, main claims, counterclaims, topic sentences, and the like to structure text and convey arguments, information, and ideas.Add, revise, or retain information and ideas (e.g., details, facts, statistics) intended to support claims or points in text clearly and effectively.Add, revise, retain, or delete information and ideas in text for the sake of relevance to topic and purpose.Relate information presented quantitatively in such forms as graphs, charts, and tables to information presented in text. Organization: Revise text as needed to ensure that information and ideas are presented in the most logical order.Revise text as needed to improve the beginning or ending of a text or paragraph to ensure that transition words, phrases, or sentences are used effectively to connect information and ideas. Effective Language Use: Revise text as needed to improve the exactness or content appropriateness of word choice.Revise text as needed to improve the economy of word choice (i.e., to eliminate wordiness and redundancy).Revise text as necessary to ensure consistency of style and tone within a text or to improve the match of style and tone to purpose. Use various sentence structures to accomplish needed rhetorical purposes. Sentence Structure: Recognize and correct grammatically incomplete sentences (e.g., rhetorically inappropriate fragments and run-ons).Recognize and correct problems in coordination and subordination in sentences.Recognize and correct problems in parallel structure in sentences.Recognize and correct problems in modifier placement (e.g., misplaced or dangling modifiers).Recognize and correct inappropriate shifts in verb tense, voice, and mood within and between sentences.Recognize and correct inappropriate shifts in pronoun person and number within and between sentences. Conventions of Usage: Recognize and correct pronouns with unclear or ambiguous antecedents.Recognize and correct cases in which possessive determiners (its, your, their), contractions (it’s, you’re, they’re), and adverbs (there) are confused with each other.Recognize and correct lack of agreement between pronoun and antecedent.Recognize and correct lack of agreement between subject and verb.Recognize and correct lack of agreement between nouns.Recognize and correct instances in which a word or phrase is confused with another (e.g., accept/except, allusion/illusion).Recognize and correct cases in which unlike terms are compared.Recognize and correct cases in which a given expression is inconsistent with standard written English. Conventions of Punctuation: Recognize and correct inappropriate uses of ending punctuation in cases in which the context makes the intent clear.Correctly use and recognize and correct inappropriate uses of colons, semicolons, and dashes to indicate sharp breaks in thought within sentences.Recognize and correct inappropriate uses of possessive nouns and pronouns as well as differentiate between possessive and plural forms.Correctly use and recognize and correct inappropriate uses of punctuation (commas and sometimes semicolons) to separate items in a series.Correctly use punctuation (commas, parentheses, dashes) to set off nonrestrictive and parenthetical sentence elements as well as recognize and correct cases in which restrictive or essential sentence elements are inappropriately set off with punctuation.Recognize and correct cases in which unnecessary punctuation appears in a sentence. Preparing for the Redesigned SAT Writing and Language Test The College Board and the Khan Academy are offering free test prep for students interested in getting ready for the exam. You read that correctly: Free. Check it out!

How to deal with a career crossroads

How to deal with a career crossroads In pop culture, we picture midlife crises in a very specific way. The man who buys the Ferrari. The woman who goes on a soul-searching trip with lots of yoga and beautiful European locales. In real life, though, it can be a lot more subtle than that- and often hits the professional life rather than the personal one. If you’re feeling mid-career blahs, and aren’t sure how to deal with it, it could be a career crossroads. Is it time for a change? Should you keep going on your current path? What is a career crossroads and how can you handle it?The career crossroads is a point where you start to wonder what the rest of your career should look like. It can be brought on by changes at work (a new boss, big changes in the company) or really by nothing at all except a general sense of am I doing what I should be doing?  The end result could be staying where you are, looking for a new job, or jumping fields altogether. Let’s look at some strategies for dealing with a ca reer crossroads.Do an audit of your professional lifeNow is the time to ask some very important questions about what you’re doing now and where you’ve been. Are you in a field that you chose decades ago, right out of school, because it felt like the right choice at the time? Do you still feel like it was the right choice? Have you moved as far in your job or field as you would like? Do you feel burned out because you no longer feel fulfilled by what you’re doing, or would minor changes make your life better in the same job?It’s also a chance to reassess your values. What’s the most important career factor for you at this point? A certain salary? The emotional fulfillment you get from your job? A certain job title or set of responsibilities?Be honest about what you wantThis isn’t about what others might want for you or what you wanted back when you were a student. The person you are now may have changed totally from your younger self, so it’s time to be realistic about what you want to achieve in the next phase of your career.Here are some factors to consider:What’s the financial picture in your career right now? Sites like Glassdoor and Salary.com can help you figure out if your salary is in line with others at your level of experience, job title, etc.Do you feel fulfilled by what you’re doing? If you find yourself bored but generally happy with your field, think about what would make your job more challenging or fulfilling. If you can’t think of anything that would enhance your current path, then it’s time to ask †¦Would you be happier doing something else? The mid-career change is increasingly common. What you wanted to do forever at age 22 is not necess arily the same thing you want to do forever at age 50. If you think you need a drastic change, then it’s also time to think about what would be involved in starting over (Going back to school? Certification?).Don’t be afraid to get an outside perspectiveYou don’t have to muscle through your crossroads alone. In fact, it can really help to get the outside advice of someone you trust, like a mentor or someone else in your field. It’s best to avoid people at your current job (lest you spark rumors about you quitting), but a former colleague could be a good choice. The act of describing your current frustrations and future goals can help you visualize what you really want to do.Create  an  action  planIf you determine that it’s time to make a job change or push for a promotion at your current job, then do it. Set a plan for your job search. Update your resume. Dust off your LinkedIn page, and start building your network. Start building your negot iation plan for approaching your boss. The outcome of your self-audit should always be an action plan of some sort, kind of a roadmap for the next phase of your career. Whether you’re staying put or looking for something new, you should come up with several tasks that will make your professional life better.If you feel yourself approaching the career crossroads, don’t let the questions or frustrations get you down. It’s the perfect opportunity to take charge, and shape your career for the better.

What is Gospel Research Paper Example | Topics and Well Written Essays - 1250 words

What is Gospel - Research Paper Example Gospel to Christians, is described as the saving acts of Jesus on the cross and through his resurrection which acted as a reconciliatory bridge to bring back the initial relationship that existed between God and the people (Dunn 37). The discussion below will try to expound more on what the gospel means, taking into account several publications by various authors and the Bible. It is meant to give an insightful discussion into the topic and will culminate into an argument on the comparisons between the gospel of Jesus and that of Paul. In the discussion, Biblical referencing will largely rotate around the four main books that outline the life of Jesus: Mathew, Luke, Mark and John. Alongside these books will be the authorship works of Paul which will also be considered to bring out the meaning of the topic from Paul’s perspective. Publications from other authors who have already dug into the topic of gospel will also be consulted. At the end of the research, I will also discuss my opinion of why the gospel is good to Christianity and how it has helped to make a difference in my life. Before proceeding to the topic, however, I will provide a brief overview of the lives of both Jesus and Paul as it will help to set the basis of our discussion. According to the lines in (Mathew 2:1), Jesus was born in Jerusalem, Judea during the rule of King Herod. He began his life in Nazareth and only started his gospel ministry after 30 years. (Luke 3:1). The commencement of his ministry followed his baptism by John the Baptist and this set way for his Divine Mission of spreading the good news. He then withdrew into the desert where he took a 40-day fast. After overcoming temptations by the devil, He went back to the neighbourhood of his Baptist’s ministry from where he won his first disciples (Mathew 3:4). It is during this time that Jesus performed his maiden miracle and where prepared wine from water at a nuptial party at Cana,

Business law Essay Example | Topics and Well Written Essays - 2000 words - 2

Business law - Essay Example The company has grossly violated the contractual terms of the agreement they signed with Mark (Walsh, 2006, pg. 544). The grounds for Mark’s dismissal are that he refused to accept orders from his boss. It is noteworthy that the two have a long history of misunderstanding and criticism of each other’s leadership and professionalism. Whereas Mark accuses his boss for poor leadership and undue targeting with more work, Rebecca thinks that Mark is unprofessional in his attitude towards work (Walsh, 2006, pg. 544). Much as the company felt that they should dismiss Mark, they needed to follow due procedure provided for in the law and anchored in their contractual agreement. The claim that Mark shall use to win the case are many. First, Mark will need to prove that for the 12 years he worked for the company, he has never had a disciplinary issue and the misunderstanding between him and his boss are just based on dissenting opinion on how they perceive situations (Walsh, 2006, pg. 544). This is a valid reasoning because at every workplace, employees must not satisfy the perception of their bosses. Furthermore, the differences between Mark and his boss can better be resolved through conflict resolution mechanisms within the company, which were not even activated before his dismissal (Walsh, 2006, pg. 544). ... Therefore, when the company desires that Mark should work overtime, they should discuss and agreed how compensation for overtime work shall be done (Walsh 2006, pg. 212). The approach Rebecca gave Mark that he should remain behind and work overtime should have been done in a better way. There was supposed to be an agreement signed to dictate how any work that Mark does overtime shall be compensated. Furthermore, there is nowhere in the contract where Mark was to work overtime (Walsh, 2006, pg. 108). Whereas it was better for Mark to show respect for his boss, this was not going to be possible through forcing him to work overtime disregarding plans that he might have had for the evening. Thirdly, Mark shall argue against the procedure the company followed to dismiss him. Mark will show that the company violated his employment and contractual rights. The company is entitled to give Mark 12 weeks’ notice before they dismiss him according to their contractual agreement. Therefore, the company violated this agreement thus leading to wrongful dismissal (Korn and Sethi, 2011, pg. 8). While arguing this case, the mark shall need to prove that the wrongful dismissal has caused him several challenges. The dismissal has caused him to lose his source of income immediately putting him into dire financial problems. Furthermore, he has the rights to seek legal redress on this matter. Mark will need to prove that through the legal process he should be allowed to access the remedies he has. The remedies he has for a wrongful dismissal include reinstatement and compensation (Korn and Sethi, 2011, pg. 8). Therefore, this is a strong case against the company because disciplinary procedures do not form part of Mark’s contractual agreement with the company.

Critical Assessment of a Brief of Evidence from the Perspective of the Essay

Critical Assessment of a Brief of Evidence from the Perspective of the Police Officer Checking the Brief - Essay Example Since, there is a wide variance in the facts of cases this application by the jury is to a very large extent dependant on the application of commonsense and community perceptions. Moreover, the law is such that the level of justifiable self-defence is significantly dependant on the level of danger presented by an attacker. Furthermore, a defendant cannot be convicted for an offence unless the court is convinced first, that the defendant committed the act alleged by the prosecution and second, that the defendant had the intention to commit that act. In other words, it has to be established beyond any doubt that the act was something about which the defendant was aware and had all intent to commit. Such inferences can be drawn if no other rational or reasonable conclusion can be surmised from the evidence presented by the prosecution. "In cases where the evidence discloses a possible defence of self defence the onus remains throughout upon the prosecution to establish that the accused is guilty of the crime of murder and the onus is never upon the accused to establish this defence1." In this connection in The Queen v Howe2 it was held that, "The state of the law appears to be that once a ground is disclosed by the evidence upon which a plea of self defence may arise, it is essential to a conviction of murder that the jury shall be satisfied beyond reasonable