?Economics is a social science that mainly focuses on different fields of knowledge dealing with the proper distribution‚ allotment‚ production and consumption of resources. Economics has been divided into two significant branches; one of it being the microeconomics and the other one being the macroeconomics. Microeconomics can be easily understood through the term micro itself which means small‚ microeconomics focuses on small level that is to say it includes areas of individual decision making
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Business Cycles Business Cycles ► The value of real GDP over time shows periodic fluctuations in its movement ► The business cycle refers to the periodic fluctuations of economic activity about its long term growth trend ► The Business cycle is the more or less regular pattern of expansion (recovery) and contraction (recession) in economic activity around the path of trend growth. At cyclical peak‚ economic activity is high relative to trend At a cyclical trough‚ the low
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Economic factor affected in Tajikistan: Tajikistan has grown a lot since 1997. The ongoing privatising of small and large businesses and factories still provides for an enormous growth. More and more people return to their homeland‚ since there is peace and the threat connected to war has gone. In the second part of 1997‚ the macroeconomics came to balance. Trade was extended‚ and the prices were no longer controlled by the state. The budget holes were reduced to a minimum‚ and the regular
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conduct. Macro environmental factors These elements are not firmly identified with the association but rather it has dependable and devastative effect on the association. Full scale ecological components focus the dangers and chances of the association. Full scale natural components are social‚ demographic‚ political‚ monetary‚ innovative and normal. Demographic Factors: It incorporates clients’ occupation‚ age‚ sex‚ thickness‚ area thus on and these elements change relentlessly. Economic Environment:
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successful business start-ups are owned by believers and proponents of good strategic management‚ a regimented 7-stage discipline involving vision and mission development‚ external assessment‚ internal assessment‚ long-term objective setting‚ strategy identification and selection‚ strategy implementation‚ and performance evaluation. Well-meaning strategic management practitioners consider five (5) key external forces in doing the external assessment exercise‚ and these are political‚ economic‚ social
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ECONOMICS FOR MANAGERIAL DECISION MAKING-I (ECONOMIC ANALYSIS SIMPLIFIED FOR YOU) COURSE DURATION: 20 HOURS PER SEMESTER COURSE CREDITS: 02 1. ESSENCE OF ECONOMICS Problems of an economy; Solutions of these problems; Alternative system to tackle the problems; Economics‚ micro – economics & macro – economics; Basis building blocks of microeconomics – rationality‚ marginalism‚ opportunity cost‚ general & partial equilibrium. 2. FALLACIES AND PITFALLS Economics is about decision making
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Compare and contrast macro political risk with micro political risk. Discuss policies to combat their impacts on international business activities. Strategic planning is essential prior to any individual or company deciding to engage in international business whether as direct/indirect investment or through trade. An evaluation of risks should be considered and strategies developed accordingly prior to any potential investment in a foreign country. One such risk which requires consideration is
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Economic Factor Affecting Automobile Sector. 1. Excess Capacity. According to CSM Worldwide‚ an automotive research firm‚ in 2004 the estimated automotive industry global production capacity for light vehicles (about 74 million units) significantly exceeded global production of cars and trucks (about 60 million units). In North America and Europe‚ the two regions where the majority of revenue and profits are earned in the industry‚ excess capacity was an estimated 17% and 13%‚ respectively
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Macro Economic System and its Management. 1. Macro Economic Concerns: • Micro vs Macro Economics. • Major Building Blocks of Macro Economics: 1) AD & AS 2) Four Sectors: HHS‚ BS‚ GS & FTS 3) Two Markets: Commodity Market and Money Market. • Specific issues to be addressed in Macro Economics: o Rising Prices o Rising Unemployment o Falling GDP o Balance of Payments Crisis. • Tools of Macro Economic Policy and Management:
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MACRO ECONOMICS Classical Dichotomy The classical dichotomy is rooted in the understanding that in the long run‚ real output is determined by “real” inputs such as labour‚ capital‚ natural resources and TFP‚ but not money. This means that changes in the money supply determine changes in the price level over time‚ but not real output. However‚ it is important to remember that the classical dichotomy applies only in the long run. Almost all economists would agree that money and price can have very
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