Economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Greek words for “house” and “law,” and it was first used in the 18th century by Scottish philosopher Adam Smith. Today, economics is divided into two main branches: microeconomics, which focuses on individual actors such as firms and consumers; and macroeconomics, which looks at the economy as a whole.
There are a number of different ways to approach writing an essay on Economics. One approach would be to focus on a specific branches of economics, such as microeconomics or macroeconomics. Another approach would be to select a specific topic within economics, such as inflation or international trade. Alternatively, you could write a more general essay that discusses the role of economics in society.
Whichever approach you choose; it is important to back up your arguments with evidence. For student who are struggling to find reliable sources of information, free college essay examples can be a helpful resource. These examples can provide you with a better understanding of how to structure your own essay, as well as give you ideas for what to write about.
Introduction The great recession refers to the period marked by the decline in countries’ economies around the globe. The great recession took place between the year 2007 to 2009 (Cashin, D., Lenney, Lutz, & Peterman, 2018). The International Monetary fund declared the great recession the second worst economic crisis after...
Introduction The issue of immigration remains to be a critical subject that many nations are fighting to address. In the recent past, immigration has increased significantly at alarming levels. For instance, according to the United Nations (UN) reports, the number of migrants globally has doubled over the past 20 years...
Monetary and fiscal policies include factors regulating money supply and flows, regulation of financial processes, currency procedures, and mintingprinting of money. These policies and practices aim to establish a stable nature of the economy and economic development. It can be performed through various credit policies, market stabilization, currency management, etc....
Introduction Large companies are often looking for ways to expand into international markets; political risks should be taken into account when adopting a business strategy in a new country. Political risk is a manifestation of local power that affects the economy and foreign business in a particular country. Political risk...
Application of the Books Rhetoric and Philosophy of Communication Essentially, Smith’s book has advanced my theoretical knowledge of the rhetoric and philosophy of communication in three different ways. Firstly, I have to establish authority when seeking to make an argument. Smith utilizes this concept in the introductory paragraph of his...
Introduction The focus of this paper is to discuss the pricing strategies across the various market structures: perfect competition, monopolistic competition, oligopoly, and monopoly. A brief description of these markets will be presented, which pays attention to the definitions. Additionally, all the major features of the market structures are outlined....
Introduction Unprecedented natural pandemics such as COVID-19 alter the normal operations of capital markets. Global financial and capital markets are significant for resource mobilization for international businesses. The markets have various benefits ranging from a higher return on investments to cheaper borrowing costs. Investors in the global capital markets maximize...
Investors are exposed to a variety of risks when expending funds. These financial risks include systematic and unsystematic risks as well as business, sociopolitical, inflation, liquidity, and interest rate risks, among others (Chen, 2022). In addition, investors should make a decision whether to invest their money short- or long-term. Thus,...
Immigration is a complex issue that draws a lot of public attention in the USA. Americans have quite a specific view on this phenomenon. Furchtgott-Roth (2013) states that Americans oppose immigration, as they fear that immigrants can take up their jobs. Opponents of immigration emphasize the need to close borders...
This paper dwells upon the development of the emerging markets of the BRIC countries. Economies of Brazil, Russia, India, and China are experiencing rapid growth, and these countries can take up a considerable share of the global market. Objectives Major objectives of the present research are to explore central principles...
Introduction Canada and the US have enjoyed a good trade relationship with each other for decades. This had resulted in favorable economic outcomes for both countries. Due to the close geographical proximity of the two countries and the amiable relationship between the respective governments, Canada’s trade with the US has...
Introduction: Illegal Immigration in the United States Illegal immigration is a part and parcel of modern world, and there is nothing one can do about it. Partially, it is the process of globalization to blame; once one lets the boundaries between the states down, it is expected that people start...
Introduction The research paper seeks to provide a descriptive analysis of the various demographic, social and economic indicators of the foreign-born Chinese in Massachusetts. The specific areas that will be analyzed include age distribution and marital status, education, employment, earnings and medical insurance coverage of the foreign-born Chinese. Further, a...
Introduction Changes in economic ideology as well as progress in technology have perpetuated increases in capital mobility between nations. The North now takes advantage of cheap labor and a favorable investment climate in the South. With the help of global financial institutions, it has been possible for elite nations to...
Introduction The paper aims at giving information on the current state of the economy of the US. Some of the macroeconomic variables that will be reviewed are GDP, inflation, and unemployment rate. The paper will further discuss the state of recession and its possible impact on the state of Ohio....
Introduction The success of a business firm depends on the marketing mix for the products and services. The four marketing mix includes product, price, place, and promotion. These variables would determine the growth rate of the company. Good managers utilize a marketing mix to promote the products manufactured by the...
Over the last decade, many foreign firms have invested in China and used their Chinese factories to produce goods for export. If the yuan is allowed to float freely against the US dollar on the foreign exchange markets and appreciates, how might this affect the fortunes of those enterprises? China...
Introduction International trade occurs when countries conduct their trading activities across borders (Carbaugh, 2013). World Trade Organization (WTO) acts as the sole trading body that regulates international trade among countries. Certain factors affect international trade negatively by making the operation of trading activities difficult. In particular, recessions affect international trade...
Benefits Accruing from Free Trade The first benefit that accrues from free trade is the encouragement of economic interdependence among trading countries. Due to the scarcity of resources, a country will specialize in producing those goods and services it has a comparative advantage in and importing those goods it cannot...
Purpose/aims of WTO The World Trade Organization (WTO) serves several functions. It is pertinent to mention that WTO was set up as a permanent organization to champion the growth and development of commerce. It is a watchdog body that oversees intellectual property rights, foreign investment, and trade-in services. The purpose...
Financial crisis refers to a situation in which the demand for money exceeds the amount of money in circulation. This mostly leads to people withdrawing a lot of money from the banks compelling the banks to liquidate some of their assets or collapse. The crises are caused by Massive external...
The 2007/2008 financial meltdown greatly affected the economy of the whole world. There are sets of factors that might have led to the occurrence of this global recession. According to IMF report, the market instability is traceable back to 1997, in which rise in capital flows or global imbalances, loose...
Economic indicators are pieces of data that are used by investors to deduce the current and future investments in a business or organizations (Rosenberg, 2011). These indicators are usually categorized at macroeconomic level in order to assist in assessing the overall performance of an economy (McEachern, 2011). However, such data...
Introduction Tax cut is the reduction of tax charged by the government. This may be on individual or on corporate basis. The effects of tax cuts are increases in income to individuals and companies and a decrease in government income. The tax cut influence depends on the tax payers’ actions...
The History of subprime mortgages in the U.S Subprime mortgages are mortgage loans awarded to poorly qualified homebuyers. This practice dates back to the 90’s when lending institutions due to competition turned focus to serve low-income earners. This category of homebuyers was less attractive to many lenders and those who...
Introduction With the world becoming a global village, every aspect of human life has also been integrated and trade has not been left behind either. The free movement of goods and services has been facilitated by the agreement between world economies; in the need and the benefits of promoting free...
Introduction Despite the numerous advancements that man has made in the 21st century, poverty continues to be rife in most of the developing countries of the world. This is despite most of these nations having significant amounts of natural resources which can be used to develop the nations. In addition...
Introduction The demand for goods and services is influenced by various factors that exist in the community. Demand is influenced by the price of the good as well as the existence of an appropriate substitute. If two products are perfect substitutes of each other, then the production of one influence...
Introduction Over the years, there have been prevalent economic realities that have led to the rising and collapse of various economies all over the world. Qatar is one nation which has experienced economic changes in the past decade as a result of global demand for its products, social changes, and...
Any economy experiences business cycles c characterized by booms and depressions. Economic booms are periods when the economy is growing at a high rate while recessions refer to periods when the economy is experiencing negative growth. The government’s responsibility is to smoothen the economic cycle as much as possible to...
The government is forced to purchase the domestic currency when an expansionary monetary policy is used in a fixed exchange rate. It reduces the money supply. It causes aggregate demand to decline, which reduces imports. It causes a surplus on the balance of payments (Carbaugh, 2013). An expansionary fiscal policy...
In business and economics, globalization can be regarded as the process of adverse integration of capital markets, services, technology and goods around the globe, which reduces international barriers of trade and investments in foreign nations. Globalization broadens and deepens international relationships, trade, investment, technology, and portfolio development. Globalization is mainly...
The problem Greek economic crisis is threatening the future of the euro and euro zone. If Greece defaults, the whole of Europe, and the world economy by extension, would be thrown into a recession. According to newspaper reports, the Greek government fiscal indiscipline after joining the euro is responsible for...
Introduction A firm is said to have gone global, when it has expanded its operations beyond the geographical boundaries where it was incepted, to other continents. Globalization itself means the process by which, various countries have made agreements; which either reduce or completely remove barriers that hinder foreign trade. The...
Interest rates are a tool for Federal Bank (Fed) to control the money supply in the economy. In other words, interest rate is the rate at which the Fed lends to commercial banks. When there is an increase in demand for loanable fund, and increased interest rate will ensure that,...
The Product Life Cycle assumptions that there are four stages in which a product goes through in order to reach international markets, assumes that believes that all businesses starts from low levels and then grow to high levels. This is a partial theory that believes that all businesses start at...
Differences between China and India’s population policies China implemented an intensive program of birth planning where couples were supposed to have two well spaced children. Contraceptives were issued free of charge while people were paid for the time they spent seeking to secure abortion and sterilization. On the other hand,...
Introduction About GDP Gross Domestic Product (GDP) is a useful indicator of the status of the economy of a country. GDP measures the total value of goods and services produced in a country within a given period. This is commonly measured either monthly, quarterly, semi-annually, or annually. Measuring GDP is...
Introduction According to statistics from the World Bank, Canada has the 14th largest economy in the world based on annual GDP (Pomfret, 2013). The country’s immense wealth is evident from its membership in the G7 summit and the Organization for Economic Co-operation and Development (OECD). The services industry is the...
Firms may find it appropriate to expand their operations into foreign markets mainly for purposes of expanding their profit base. Additionally, the need to limit production costs may lead to such a decision, especially in instances where the factors of production may be less costly in the foreign country. Pakistan...
Slavin argues that knowing the economic growth of a company is extremely crucial for planning purposes (2). Also, Slavin suggests that it is incredibly necessary for a country to know the living standards of its people to be able to prioritize its development agendas effectively (2). Slavin argues that analysis...
Monetary policy is regulating of the amount of money in the economy for the purpose of reducing the challenges of inflation and unemployment and securing the business cycle (Amos-Web, n. d.). The main objective of money policy is to maintain the economy healthy and flourishing. In the past, monetary policy...
Importance of Financial Information In a market economy, when enterprises are forced to adapt to a rapidly changing competitive environment, the timely receipt and analysis of data are fundamental aspects. The base for the study of financial statements in the enterprise is accounting reports that are subject to precise documentation...
Introduction The concept of free trade has been in existence since pre-historic times. According to O’Brien, different geographic locations have different natural endowments (172). Similarly, different people have different skills and expertise that defines what they can produce. In the early days, people would exchange what they produced in excess...
Introduction: Specifics of the Saudi Arabian Market Economy The economic landscape of Saudi Arabia is complex in its ties between the government and the private entrepreneurship. Supervised extensively in most of its domains by the government, the Saudi Arabia market can be viewed as a highly functioning mechanism that is...
Effects of the Fiscal Policy and the Monetary Policy in the Economy The monetary policy is a set of procedures through which a monetary authority (the central bank) controls the money supply in its country to manipulate the interest rate of its currency. The Federal Reserve is the governing authority...
Introduction Abu Dhabi Commercial Bank is a premier financial sector known all over the world. However, it has faced numerous challenges related to the transfer of monthly salaries to various accounts. This research seeks to gain insights in the underlying reasons behind the inability of the bank to provide quality...
Introduction The world economy has undergone economic slump in the past few years due to the global recession. The UAE’s economy has undergone a slump in its growth rate as the economy registered a modest growth rate of 2.3 percent in 2016. The global economic downturn resulted in a slackening...
In the recent decades, free trade has become a widely discussed topic among economists. By definition, free trade, also called laissez-fair, is a policy which restricts government into international trade with other countries by discriminating against imports by charging tariffs, or interfering with exports through subsidies. Different studies about free...
Introduction The United Arab Emirates is one of the leading oil producers in the Middle East and North Africa (MENA) region. The robust economic growth that the country has experienced over the last four decades is fully attributed to its rich oil fields. The country exports its oil to Europe,...
Introduction In 2008, the world experienced the worst financial crisis because of the crumbling of the United States’ housing bubble. The crisis rapidly spread across the world causing major disruptions to the real economy, which consequently affected international consumption, production, investment, trade, and employment. This impact of the financial crisis...
Introduction Despite the domestic challenges that America has faced over the years, especially following economic recessions as witnessed in the past, its financial system remains the largest and most significant across the world. In fact, the economy represents about 20 percent of the total global output. In addition, according to...
Introduction A monopoly can be defined as an entity that has an exclusive right to sell a certain service or a product (Baumol & Blinder, 2015; Pearson, n.d.a). In order for a business to gain a monopolistic power over its market, it has to satisfy two key criteria. First, the...
Introduction Global financing and exchange rates are among the basic considerations that a country faces, when engaging in business abroad. These are also fundamental concerns when dealing with foreign trade, exports and imports. Considering hard and soft currency is, therefore, essential for countries to avoid the risk associated with fluctuation...
The US dollar has been remaining the world’s global reserve currency for a considerable period of time. Such a status in the global economic system has its own peculiar positive and negative consequences. The fact is, the USA currency is the most stable and prospective “player” on the markets, bringing...
In 2008, the financial crisis hit the country. Many enterprises and financial institutions went bankrupt, while ordinary people lost their property due to the inability to pay out loans. Nowadays, it is easier to analyze the reasons that have led to this major drop in the state’s economy. The housing...
Introduction The World Trade Organisation (WTO) is a global agency that oversees international trade. Created by the Marrakesh Agreement of 15th April 1994, the WTO commenced its operation on 1st January 1995 and today (October 2017) boasts of 160 members. This membership covers about 98% of the world, with about...
Introduction The emerging technologies have turned the world into a small global village where all the geographical barriers that existed before have completely been eliminated. The emergence of transport and communication technologies has made it possible for people to move and communicate easily irrespective of their locations around the world....
Globalization is the process of integrating the different nations of the world by uniting their views, cultures, products, and ideas. Technology has aided a great deal in the promotion of globalization. Technology in transport and communication has enabled speedy, accurate, and less stressful access to information and places all over...
Introduction South Asia is one of the densely populated regions in the world. Besides, the region houses one of the largest economies in the world based on the level of economic growth and development. Over the past two decades, the economy of South Asia has seen a steady growth averaging...
Background Information Globally, oil prices fell sharply in 2014 and have been in unstable trends since then. Arguably, the 2014 downfall in oil prices could be an indication to an end of the supercycles associated with the prices of hydrocarbons. It is imperative to note that the current trends do...
Executive summary The economic condition of a country refers to an assessment of a country’s attainment of the objectives of key governmental policies. There are various reasons for policy formulations. Policy formulation in a country is aimed at improving the living standards of its citizens. It is the real living...
Introduction The article, Power shifts, economic change and the decline of the west, by Michael Cox explores how economy power has been shifting in the last decade towards east from the west. This paper explores the content of this article from an economics perspective by giving personal opinion, rationale for...
Introduction The Bretton Woods system is accountable for the development of international financial organizations including the World Bank and the International Monetary Fund1. In this light, this paper will describe the Bretton Woods system before exploring its historical background. Further, this paper will identify the purposes for establishing the Bretton...
Introduction International Monetary Fund (IMF) refers to a United Nations agency that seeks to promote trade by increasing the exchange stability of the major currencies. Formed on 27 December 1945, the agency has a membership of 189 countries and has its headquarters in Washington, D.C. The decision to create the...
Introduction The GCC region is important in the world economy because of its oil and gas reserves and output. Most of the economies of the states are dependent on oil and gas, although some, like the UAE, Qatar, and Saudi Arabia, have diversified their economies. The member states comprise a...