Economics Papers: Economics Essay Writing, Term Paper Help, Research Paper Tips

The current problem question includes several “vague” terms that have to be brought into perspective before continuing, as this will no doubt cause much room for discussion in interpreting the analysis. The term regionalization here is understood as going beyond the classical integration theories and including social, political and cultural dimensions as well as the conventional economic features. The newly defined phenomenon no longer covers mere geographical territory but convergence between states and regions in general as well . Under this definition the role of the United States (among other countries) in Latin America can also be included seeing as they too influence regional policies as a whole with their bilateral and multilateral agreements. The second term that needs clarification is the term criminal economy. For the purpose of this paper, I will focus mainly on the role of the narcotics industry within the criminal economy, as this is believed to be the most influential in the region. The third and final word that needs further elaboration is the use of words Latin America. For the benefit of simplification I will focus on a case study, namely that of Bolivia, as it represents one of the core countries involved in both neo liberal regional cooperation (that is MERCOSUR) as well as a key participant in the cultivation and production of narcotics within the region. These terms will be explained in more detail throughout the paper.

This paper therefore aims to link the newly defined phenomenon of regionalization with trends in the narcotics industry in Bolivia. The correlation or relation (if any is identified) between these two variables will prove to be of great importance in identifying the consequences of developments in current policies on the criminal economy and hence determine their success. Read more…

The Australian dollar gains its highest level in more than five years. In April 2001, the Aussie dollar began the climb from a low of US Dollars 0.479. In July this year, it peaked at US Dollars 0.687. This climb that the Aussie dollar is in is happening due to many factors, some of these factors are internal that happened due internal causes such as: Government policies, Strong Housing cycle.

Or due to external factors which are factors that are caused by policies of countries that are directly related to the Australian economy or global or regional markets

The RBA “Reserve Bank Board” major responsibilities are to determine the banks monetary and banking policies. However, since banks are considered a key player in money exchange within the economy that is due to the facts that majority of businesses and people deposit at banks and so with those deposits, the banks overall behavior can influence the quantity of deposits in the economy and there for the money supply. So the RBA major job is to determine monetary policy for the banks and the overall banking sector.

What monetary policy means is the management by the central bank of liquidity conditions in the economy. That is the price and availability of funding for the economy’s expenditure. The objectives of monetary policies are to contribute stability of the currency, the maintenance of full employment, and the economic prosperity and welfare of the people of Australia.

The long-run objective of monetary policy is to influence the rate of growth in the economy and the level of prices. When the overall economic growth is too fast, this put pressure on prices so the RBA will implement a tightening of monetary policy to slow the economy. But when the economy is experiencing slow growth, the RBA will implement expansionary monetary policy. Read more…

Abstract
There is a great deal of discussion amongst economists regarding government’s approach to economic stimulation. The discussion centers on fiscal policy, and whether the government should take a Classical or Keynesian approach regarding U.S. economic issues. In this paper we briefly explore the Keynesian side of fiscal policy in an effort to see if government intervention serves as a useful tool in stimulating economic growth.

Economic Impact of Government Fiscal Policy
Over the course of the last few years there has been much discussion regarding the state of the U.S. economy and what the “right” approach is to stimulating economic growth and prosperity. As the 2004 election approaches, there is significant discussion by Democratic presidential candidates about the Clinton economy verses the Bush economy, as they compare and contrast the two administrations fiscal policies (Berlau, 2003). Even the media contributes to the debate regarding which administration’s fiscal policy is responsible for the current challenges faced by the U.S. economy.

Still the question remains, does the Keynesian activist approach serve the nation better in stimulating economic growth and prosperity, or would the nation be better served to follow a more Classical “laissez-faire” non-activist approach? The debate will undoubtedly continue for many years to come. Read more…

After Germany’s loss in World War 1, they fell into a depression, as they owed money to most of the countries in accordance to the treaty of Versailles. Most of the other countries around the world were also having economic problems because of the repercussions of the war. Then in the 1930’s due to a huge stock market crash, the world flung into ‘The Great Depression.’ This depression caused most of the world’s economies to decline however; Germany’s economy started taking an upward turn.

Germany went through a lot of ups and downs in their economic cycles in the Interwar years. There were a lot of economic crashes and booms in these twenty odd years. There were many factors that contributed towards these economic instabilities. Through this report we take a look at how the German economy pulled through in some of its toughest times and managed to stabilize its economy. To observe how the German economy worked through the pre-war years, we have to take a look at it through its different stages. Firstly there was the period between the First World War all the way up to the Great Depression in 1929; from there we look at Germany from the 1930’s to World War 2 and Adolf Hitler’s contribution to their economy. Finally the German economy must be compared to the world during this time period. Read more…

This is a Microeconomics research paper chapter on Unions:
Unions play an important role in many businesses, such as airlines, and often aid in decision-making. Such is the case in the article “United Machinists’ Union Approves Pay Concessions”, by Edward Wong from the May 1, 2003 New York Times. Since the airline is in danger of bankruptcy, the union “members are providing United Airlines with the means and opportunity to successfully restructure and avoid liquidation.” In order to do so, the machinists’ union voted to give the company a total of $794 million a year in wage and benefit concessions over the next six years. As a result, wage cuts range from nine percent for flight attendants, thirteen percent for machinists, and thirty percent for pilots.

Airlines are an oligopoly in the United States. Oligopolies are market structures where a few firms distribute a product, either standardized or differentiated. Entry into this market is often difficult, and a firm has limited control over product price because of mutual interdependence, and there is typically non-price competition. There are a few large airlines that get most of the traveling business, and differentiation is limited. Since September 11 however, business has been slow, with most people opting not to travel by airplane. As a result, many airlines, including United Airlines, have been close to bankruptcy. Read more…

As economic integration among nations emerges at the dominant mechanism affecting trade patterns, the global economy is rapidly evolving into a patchwork of regional blocs. International trade is no longer the exclusive domain of sovereign states; its sources are increasingly found at the supranational level, while its impacts are more and more felt in sub national regions. In addition, the increase in freer economic policies all over the globe has so undermined national authority that regional economics are inevitably opened up to international trade.

In this volume, David Hayward considers the issue of regional exposure to external economic events, exploring the role of trade in the performance of American states and regions. Using a shift share model to evaluate the contribution of exports and imports in the growth of U.S. manufacturing industries, Hayward focuses specifically on the case of trade with the European Community, analyzing the potential impacts of its deepening integration on trade with individual states. Read more…

The Nature and Extent of Inflation
Inflation is a sustained rise in the general level of prices in an economy. Several measurements of inflation are available but the most widely used measurement in Australia is the Consumer Price Index (CPI), which measures the percentage change in the prices of selected consumer goods and services over time and therefore reflects changes in the cost of living.

The rate of change in the CPI is known as the headline rate of inflation since it covers the movement in the prices of a basket of goods and services weighted according to their significance in the average Australian household.

Some problems in the interpretation of the CPI include the volatility of some prices due to seasonal conditions (such as food prices), and the change in the weightings given to various categories of spending over time due to changes in consumer spending behaviour.

The CPI for the March quarter 2003 showed a rise in the general level of prices of 1.3%, bringing the annual rate of inflation to 3.4%. Hence, the inflation rate has moved outside the RBA target range of 2% - 3%. Read more…

Globalization, an economic, political and cultural phenomenon, has swept through the world in the twentieth century. Globalization supposedly brings the world together economically, politically and culturally. Instead, globalization has brought the world farther apart than it originally was, and more inequalities exist now. There is no static definition of globalization, as it is a concept that can mean multiple things, depending on what a definer believe in. I believe a somewhat accurate definition would be.

Globalization refers to the multiplicity of linkages and interconnections between the states and societies which make up the modern world system. It describes the process by which events, decisions, and activities in one part of the world can come to have significant consequences for individuals and communities in quite distant parts of the glove.”

The question posed “is globalization a form of American economic and cultural imperialism?” is one of many differing opinions. Neoliberalists would argue that globalization is good for the economy, but I choose to argue otherwise. I believe that globalization is Americanization of the world, and global capitalism is taking place, where workers are being exploited at the expense of developed countries in North America and Western Europe. I will structure the essay by showing what six different authors have written in their books about globalization. The authors will be grouped into two groups, one of which shows the benefits of globalization from economic, cultural, and political standpoints, and the other, which shows the negative aspects of globalization of the same three facets. Globalization is a form of cultural imperialism and Americanization, and I will set out to justify why this is so, and what the worldwide implications of globalization are. Read more…

National preference formation is the first step in interpreting the outcome of an international negotiation. Andrew Moravcsik describes national preferences as, “an ordered and weighted set of values placed on future substantive outcomes that might result from international political interaction.” (Moravcsik 24). The most significant question dealing with national preferences is determining the reasons why governments act and decide the way that they do in an international cooperative setting. What are the sources of underlying national preferences? Moravcsik’s hypothesis divides the tendencies of national preference into two camps: geopolitical ideologies and political economic interests. Even though these two theories are contrasting by nature, the resulting hypothetical outcomes of both are achieved by observing five identical observations concerning the pattern and process of state behavior.

The first hypothesis Moravcsik provides emphasizes the role of geopolitical interests as the catalyst for the formation of national preferences. The basic nature of geopolitical reasons for national preferences focuses on underlying political and military goals. This should come as no surprise. European cooperation has been dictated time and time again by the fundamental desire of all nations to avoid another world war. The geopolitical theory does provide for economic cooperation, however the outcomes have an indirect effect on integration and are subordinate to politico-military goals. The core argument of this segment of Moravcsik’s theory is that states are more likely to integrate economically with other states because they share a common geopolitical goal or goals. Perhaps the most influential common political goal is the security against potential foes. Countries that share a common enemy are much more likely to integrate economically. The potential threat of the Soviet Union and the resulting Cold War is the perfect example of a common geopolitical interest shared by many western and central European countries, perhaps explaining the increased integration throughout the second half of the twentieth century. Read more…

Currently, the World Trade Orginisation (WTO) is in the process of negotiating the issue of The People’s Republic of China’s accession into WTO as a member. China’s accession would expect to see flow of advantages to China as well as the rest of the world.

China would undertake legal obligations to provide most favored nations (MFN) treatment to goods and services for all WTO members, to treat imported and domestically produced goods equally, abolish quotas and preserve intellectual property rights. Investors would also enjoy better surety of low tariff rates and is rest assured that it would not change in the short run. As more people are willing to invest in that country, China would be expected to have a wider selection of goods and services. Following the lowering of trade barriers (e.g. tariffs), the citizens of China would also have the chance to acquire goods, bith domestically produced and imported, at lesser cost and thus, allowing them to purchase more for their money.

New opportunities would emerge for businesses as China has agreed to fully open its door in the service sector. Among the area where foreign firms would have increased opportunities are financial services, telecommunications and distribution (e.g. wholesaling, retailing). The possibilities to export to and invest in China would increase substantially with the reduction of tariff and non-tariff barriers. Elimination of quota restrictions upon China such as the restrictions under the Multi-Fiber Arrangement would enable China to freely compete in the United States market with other textile and apparel producers. Read more…