Economics Essays (Examples)
Study Document
Economics And Religion Of Colonies
Early U.S. History
Both religion and economics were strong forces in the colonization of the New World. Pennsylvania was founded, for instance, because the Quakers were undesirables in England and … and the Quakers found a new home for themselves (Fantel, 1974). The Puritans in New England had a similar story to tell. However, economics was also a big factor not just in the colonization of the New World but also in the founding of the nation. The … trade. Tobacco and other cash crops were very important elements of the colonies in the New World, so it was not all about religion—economics also played a big part.
Which was the stronger force? In terms of founding the colonies, religion was probably the stronger force. Catholic … the allure of economic gain (territories west). Thus, there is no clear answer to the question of which force was stronger, religion or……
References
References
Fantel, H. (1974). William Penn: Apostle of Dissent. NY: William Morrow & Co.
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The Government S Economic Policies Effect Good Or Bad Economy
...Economics Introduction
Public policy is government decisions and actions designed to deal with problems and issues affecting the public (Madimutsa, 2008). The U.S. government policy areas include monetary policy, immigration, intellectual property, national defense, and welfare. This paper will review the impact of monetary policy on the U.S. economy.
Monetary Policy
Monetary policy is classified as the procedure by which the Federal Reserve uses monetary policy tools to regulate the money supply, exchange rate, and interest rates (the price of money) to stabilize the economy (Labonte, 2020). The interest rate is classified as the cost of borrowing and the reward for saving. The money supply can be defined as the total sum of money that is available in the economy. The exchange rate is the cost of the domestic currency concerning other currencies. The Fed uses various monetary tools, but over the years, they have relied on open market operations and……
References
References
Federal Reserve. (2020, March 15). Federal open market committee. Retrieved March 30, 2020, from https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Labonte, M. (2020). Monetary policy and the Federal Reserve: Current policy and conditions (RL30354). Retrieved from Congressional Research Service website: https://fas.org/sgp/crs/misc/RL30354.pdf
Madimutsa, C. (2008). The Policy Formulation Process. Retrieved from https://www.researchgate.net/publication/336927323_The_Policy_Formulation_Proce ss
McGraw-Hill Education. (n.d.). The role of government. Retrieved from https://www.jasonsclassroom.com/social-studies/cc-basics/chapter-5/lesson-5.3/
Suman, S. (2015, October 26). Monetary policy: Objectives, advantages, and disadvantages. Retrieved from https://www.economicsdiscussion.net/monetary-policy/advantages/monetary-policy-objectives-advantages-and-disadvantages/12768
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Supply And Demand Economics
Even in consumer’s everyday lives, the principles of economics are evident. This can be seen in the current state of the coffee market, as the beverage grows more ubiquitous worldwide, even in ……
References
Works Cited
Lorenzetti, Laura. “Americans’ Coffee Guzzling Is Pushing Bean Prices Higher.” July 1, 2016. Web. August 5, 2019. https://fortune.com/2016/07/01/americans-coffee-prices/
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COVID 19 Effect On Health And Economic Issues For Latinos
...Economics Latino families in USA and COVID 19
Latino families in the US are being hit hard by the coronavirus pandemic scare that has put most of the country on lockdown for more than two months. The problems that Latinos face are numerous: on the one hand, the virus is impacting the health of this community in a big way, with 16.6% of U.S. COVID-19 deaths being among Latinos, according to data from the CDC (Despres). But they are also being hit economically as the lockdown is affecting their ability to do business, which is largely dependent upon contractual work, restaurant work, hotel work and other service-related jobs (Manuel et al.). Because the service industry has been decimated by the lockdown, Latino communities are losing jobs, getting pay cuts, and being sidelined from work. This has created an additional hardship for the community on top of the health scare that is……
References
References
Despres, Cliff. “Coronavirus Case Rates and Death Rates for Latinos in the UnitedStates.” Salud America, 20 Apr 2020. https://salud-america.org/coronavirus-case-rates-and-death-rates-for-latinos-in-the-united-states/
Garcia, J. & Hellerstein, E. (2020). Undocumented workers face obstacles qualifying for benefits during the pandemic. Retrieved from https://calmatters.org/california-divide/2020/04/undocumented-workers-benefits-coronavirus/
Labor Council for Latin American Advancement. “The Impact of COVID 19 on Latinos in the US.” https://assets.website-files.com/5e5f2e17e96a34dcf9b586b4/5e984eab4dd4ffba712e7906_COVID%20_%20Report%20%5BFinal%5D%20for%20web.pdf
Manuel, Jens M. et al. “U.S. Latinos among hardest hit by pay cuts, job losses due to coronavirus.” PewResearch, 3 Apr 2020. https://www.pewresearch.org/fact-tank/2020/04/03/u-s-latinos-among-hardest-hit-by-pay-cuts-job-losses-due-to-coronavirus/
Tappe, Anneken. “30 million Americans have filed initial unemployment claims since mid-March.” CNN, 30 Apr 2020. https://www.cnn.com/2020/04/30/economy/unemployment-benefits-coronavirus/index.html
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Utility Maximization Theory And Economics
...Economics Is the Theory of Utility Maximization Reliable for Rational Consumers to Make Decisions?
The article by Rothman about Johnson’s book focuses on the topic of how most people use “bounded rationality” to make their decisions—that is, they do not use a true scientific process when deciding what to do with their lives. Rather they make choices based on constrained circumstances: they do not push the parameters of their knowledge or seek out all options and explore all possibilities, weighing pros and cons with statistical rigor. The reason is that most people prefer to follow whatever impulse feels right after a cursory examination of the situation, without expending a great deal of energy on the matter. They may spend two weeks deciding what type of laptop or car to buy, but that is because the specs have already been quantified for them: they only need to compare the numbers and the……
References
Works Cited
Rothman, Joshua. “The Art of Decision Making.” The New Yorker, 2019.
https://www.newyorker.com/magazine/2019/01/21/the-art-of-decision-making
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The Phillips Cure And Unemployment
...Economics The Short-Run and Long-Run Relationship between Unemployment and Inflation
Introduction
Phillips observed a consistent inverse relationship between wage inflation and unemployment when he analyzed data from the UK spanning nearly a century from 1861 to 1957. The explanation Phillips gave was simple: the lower the unemployment rate, the more employers had to do to attract talent and raising wages was one of the primary ways to do just that (Wulwick, 1987). In a tight labor market, companies would race to quickly raise wages, and during periods of higher unemployment there would be less pressure to incentivize workers as the latter would consider themselves fortunate just to have a job. Since wages offered laborers are linked to prices businesses charge consumers (Lucas & Rapping, 1969), it was not long before economists applied the Phillips curve to inflation in general rather than to only wages. It became evident that monetary policy could……
References
References
Amadeo, K. (2019). Unemployment rate by year since 1929 compared to inflation and GDP. Retrieved from https://www.thebalance.com/unemployment-rate-by-year-3305506
FRED. (2019). FRED Graph. Retrieved from https://fred.stlouisfed.org/series/LNU04000024#0
Friedman, M. (1977). Nobel lecture: inflation and unemployment. Journal of political economy, 85(3), 451-472.
Heller, R. (2017). Monetary mischief and the debt trap. Cato Journal, 37(2), 247-261.
Lucas, R. E., & Rapping, L. A. (1969). Price expectations and the Phillips curve. The American Economic Review, 59(3), 342-350.
Stiglitz, J. (1997). Reflections on the natural rate hypothesis. Journal of Economic Perspectives, 11(1), 3-10.
Wulwick, N. J. (1987). The Phillips curve: which? whose? to do what? how?. Southern Economic Journal, 834-857.
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Labor Market Wages And Income Inequality
...Economics Abstract
This paper looks at the concepts of the labor market, wage growth and income inequality in the U.S. and discusses them in terms of inflation (caused by the injection of $4 trillion worth of liquidity into the financial markets by the Federal Reserve after the global economic crisis threatened to derail capitalism). It describes what has been written in three news articles in recent years and months, and discusses them with a view to showing that the “best economy ever”—as it is described by President Trump—should not be dependent upon a rate-cutting Fed. A good look at the labor market, wage growth and income inequality may help to explain why the president is so worried about the central bank maintaining loose monetary policy.
Introduction
While President Trump has often insisted that this is the best economy ever (BBC, 2019), there are signs that this might not be true—and those……
References
References
BBC. (2019). US economy under Trump: Is it the greatest in history? Retrieved from https://www.bbc.com/news/world-45827430
Bernstein, J. (2019). A tight job market is a potent force against inequality and wage stagnation. Retrieved from https://www.washingtonpost.com/outlook/2019/02/01/tight-job-market-is-potent-force-against-inequality-wage-stagnation/?utm_term=.0a531cf24efb
Cox, J. (2019). Private payroll growth tops estimates as job market shows signs of tightening. Retrieved from https://www.cnbc.com/2019/07/31/private-payrolls-up-156k-in-july-vs-150k-est-adpmoodys.html
Harwood, J. (2019). 5 reasons why income inequality has become a major political issue. Retrieved from https://www.cnbc.com/2019/06/05/5-reasons-income-inequality-has-become-a-major-political-issue.html
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Enron Corporate Scandal And Microeconomics
Microeconomics
Enron Corporation is an example of one of the largest corporate scandals in the history of the United States. Given a series of … days (Gibney, 00:00:38-00:00:47). Enron’s corporate scandal has been the subject of numerous studies within the business sector as it offers significant lessons on economics and corporate management. Alex Gibney’s film Enron: The Smartest Guys in the Room provides insights on various topics that are relevant to microeconomics in relation to Enron corporate scandal.
One of the topics discussed in the video relating to microeconomics is market regulation, which is a board term used to refer to government policies that regulate the market. Market regulation is evident in ……
References
Works Cited
Amadeo, Kimberly. “Deregulation Pros, Cons, and Examples.” The Balance, The Balance, 16 Jan. 2020, https://www.thebalance.com/deregulation-definition-pros-cons-examples-3305921
Gibney, Alex, director. Enron: The Smartest Guys In the Room. YouTube, Magnolia Pictures, 20 Oct. 2009, https://www.youtube.com/watch?v=BIwFO4_SWQQ&has_verified=1
Kienitz, Paul M. “ENRON: THE SMARTEST GUYS IN THE ROOM (2005).” Paulkienitz.net, Paulkienitz.net, https://paulkienitz.net/enron/smartest-guys.html
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Global Inequality
...Economics Three key issues related to global inequality are health and social problems (such as education and social relationships), economic stability, and sustainability (Pickett, 2015). Inequality in nations correlates with higher mortality rates and poorer health; social cohesion is typically lacking in unequal societies, education levels are lower, and there is little progress towards poverty reduction in unequal societies. As Pickett (2015) notes, inequality also fosters a spirit of consumerism that is antithetical to the notion of the common good. In societies where there is greater equality, business leaders generally work together to achieve greater environmental care and implement sustainable practices to reduce their carbon footprint.
Some potential solutions to global inequality are to prevent the wealth gap from widening. This can be achieved by creating laws that prohibit Board members from enjoying lucrative contracts; Board should also be staffed by employee representatives. Earnings should be more equal and less heavily……
References
References
Pickett, K. (2015). 5 reasons why we need to reduce global inequality. Retrieved from https://www.weforum.org/agenda/2015/09/5-reasons-why-we-need-to-reduce-global-inequality/
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