SUBJECT NAME : MICROECONOMICS SUBJECT CODE : BEC1001 ACADEMIC YEAR : AY 2012/2013‚ OCT SEMESTER “By submitting this work‚ we are declaring that we are the originators of this work and that all other original sources used in this work have been appropriately acknowledged. We understand that plagiarism is the act of taking and using the whole or any part of another person’s work and presenting it as our own without proper acknowledgement. We also
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hold bonds instead? There is no difference between holding money and holding bonds. Because the opportunity cost of holding money is the interest rates that bonds earns. But when the interest rate is nearly zero‚ the OC of holding money is essentially zero. So there is no difference between holding money and holding bonds. 3. Suppose that you own a $1000 bond which earns 5% interest. Furthermore‚ assume that interest rates on newly issued bonds rise to 10%. Explain why no one would be willing to
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Macroeconomics Objectives: 1. To deepen and widen students’ understanding of theories and laws that rule the national economies 2. To enhance students’ analytical ability 3. To give a macro-perspective to the economic phenomena around the world 4. To help students better comprehend the domestic and global economic realities and try to predict future course of events References: 1. ‘Economics’ by Paul Samuelson 2. ‘Macroeconomics’ by Dornbusch Fischer 3. ‘Macroeconomics’ by Richard
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EXERCISES FOR MICROECONOMICS TOPIC 1 Economics: An Introduction (Chapters 1 & 2 in the Textbook) EXPLAIN THE FOLLOWINGTERMS ◎ Average benefit ◎ Average cost ◎ Economic surplus ◎ Economics ◎ Microeconomics ◎ Macroeconomics ◎ Marginal benefit ◎ Marginal cost ◎ Normative economics ◎ Positive economics ◎ Rational person ◎ Sunk cost ◎ Opportunity cost ◎ Absolute advantage ◎ Comparative advantage ◎ Attainable point ◎ Unattainable point ◎ Efficient point ◎ Inefficient
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Introduction to Macroeconomics Macroeconomics is one of the main branches of economics. The best way to understand what macroeconomics is about is perhaps to contrast it with microeconomics‚ another main branch of economics. Microeconomics studies parts of the economy. Macroeconomics looks at the whole. In other words‚ macroeconomics tries to understand what happens in the economy in general‚ it takes an overview of the economy‚ whereas microeconomics explains what happens in different parts
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Allah The philosophic foundations of Islamic Economics TAUHID It is the belief and understanding that Allah is the Creator‚ the Lord‚ the Sustainer and the Giver. It encompasses 3 aspects; Hablumminaan Allah - the relationship between man and Allah Habluminnaannas -
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development in order to provide consumers with products of the best quality more efficiently. On the other hand‚ there is a loss in consumer surplus as a result of a monopoly in the market‚ as shown below. Consumer surplus can be defined as the difference between what consumers are willing to pay for a good or service relative to its market price. A consumer surplus occurs when the consumer is willing to pay more for a given product
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Egypt’s Culture and Political System Michael Humphrey SOC 315: Cross- Cultural Perspectives John Theodore June 3‚ 2013 Egypt’s Culture and Political System The Egyptian culture is considered one of the oldest cultures in human history. Surprisingly‚ it almost has some of gender equality except that it needs more to consider‚ in order achieving the third Millennium Development Goal‚ which talks of achieving gender equity/equality and women empowerment
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What macroeconomic policy prescriptions/strategies would you recommend for Belize in an effort to foster economic growth and development? One characteristic that developing countries’ economies share is vulnerability. Belize is small in size‚ prone to natural disasters and environmental fragility. Belize also has an open economy with a high trade-GDP ratio‚ but its export base is very narrow‚ dominated by primary products (bananas‚ sugar‚ citrus‚ etc.) and natural resources. Therefore‚ the Belizean
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was the Son of The Father‚ God‚ while the founder of Buddhism‚ Siddhartha Gautama was a normal human being‚ who achieved enlightenment through meditation and later on was referred to as The Buddha(The Awakened). This brings us to the first major difference‚ the existence of the supernatural. While Buddhism does not completely reject the Hinduism Gods‚ it does not see them necessary. At the same time‚ Christianity has its one and only God‚ who comes in three faces‚ The Father‚ The Son and The Holy
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