1. Neoclassical Theory Causes of Economic Growth a. Increase in labor quantity (population growth) b. Improvement of labour through training and education c. Increase in capital (higher savings and investments) d. Improvements in technology Neoclassicals believe that government control inhibits growth as it encourages corruption‚ inefficiency and offers no profit motive for entrepreneurship. Underdevelopment is seen as the result of government inefficient use of resources and state intervention
Free Economics Investment Macroeconomics
Economic growth and public policy To increase productivity and living standards‚ governments can can: 1. Encourage saving and Investment: Goal: invest more current resources in the production of capital to increase physical capital (K). Trade-off: The opportunity cost of investment is that someone must forgo current : consumption in order to save and invest sumption Note that: because of diminishing returns‚ an increase in the saving rate leads to higher growth of productivity and income only
Free Economics Investment Capital accumulation
Case Study 1 Guitar Maker 1) Of the Fayol’s 14 universal principles of management‚ I believe that the following principles are evident in C. F. Martin case: • Division of work – It is evident that specialization existed otherwise when the workers were shifted to fix the acquisitions‚ it would not have been a distraction to the company. Instead it would have worked out. • Unity of command – There was “top-down‚ traditional” way of giving instructions. Only the boss gave the workers instructions
Premium Management
"Sylvia cannot speak; she cannot tell the heron’s secret and give its life away." Sylvia’s only friend‚ the pleasant young hunter who has come to her house in hopes of finding and shooting the great heron that inhabits the area‚ is going to leave‚ and has asked Sylvia to tell him where the heron can be found. Sylvia knows‚ but after much agonizing‚ finds that the loyalty she feels for the heron‚ as it represents the natural world‚ is greater than her longing for human contact. Sylvia cannot speak because
Premium English-language films Nature The Final
Evaluate possible economic policies‚ other than increasing the age limit‚ that a government might use to reduce significantly the consumption of alcoholic drinks. The market mechanism should allocate scarce resources to maximise consumer welfare. Alcohol is an example of a demerit good. A demerit good is one which is overprovided by the market mechanism. Apart from alcohol‚ drugs and prostitution are also examples of demerit goods. Consumption of these goods produces large negative externalities
Free Drinking culture Alcoholic beverage Alcoholism
Automotive Industry ECONOMIC THEORY Automotive Industry In the automotive industry there are many factors and policies that affect the automotive industry and its performance. The following topics and their impacts on the automotive industry are as follows: Supply and Demand (Sales) North American Free Trade Agreement (NAFTA) External Affects Labor Supply and Demand Federal Policies Economic Influence Supply And Demand High competition from foreign car imports causing US manufactures
Premium Supply and demand Automotive industry Externality
BUS 802 MODULE 1 NATIONAL OPEN UNIVERSITY OF NIGERIA SCHOOL OF MANAGEMENT SCIENCES COURSE CODE: BUS 802 COURSE TITLE: ECONOMIC THEORY 1 BUS 802 ECONOMIC THEORY COURSE GUIDE BUS 802 ECONOMIC THEORY Course Team Dr. J.O. Onyemaechi (Course Writer/Developer) NOUN Dr. A. O. Fagbemi (Course Editor) Dr. C. I. Okeke (Programme Leader) - NOUN Dr. O. Adenuga (Course Coordinator) - NOUN NATIONAL OPEN UNIVERSITY OF NIGERIA 2 BUS 802 MODULE 1 National Open University of Nigeria Headquarters
Free Economics
Are Judges the Makers or Discoverers of the Law?: Theories of Adjudication and Stare Decisis with Special Reference to Case Law in Pakistan I. Introduction THE debate about whether judges make or create the law is at the centre of any discussion about stare decisis. Modern authors1 have discussed the views of judges and jurists in the past. This work focuses on some of the notable judges and jurists of the twentieth century‚ such as Lord Denning‚ Lord Reid‚ Lord Devlin‚ Bodenheimer‚ Hart
Free Common law Law
Interest Groups I. What is an Interest Group? II. Why do people Join Interest Groups? III. Types of Interest Groups IV. Interest Groups Incentives V. Interest Group Strategists VI. Regulating Lobbyists I. Interest Group Interest Group- An organized group of individuals having common goal and actively attempting to influence government policies. II. Why have interest groups been so successful in the United States? Variety of interest due to economic social cleavages among the members of the American
Premium Government Political philosophy Political party
City University of Hong Kong Department of Economics and Finance Semester B 2013–2014 EF2401 Economics II Instructor: Dr. KUNIEDA‚ Takuma Office: P7318‚ Academic Building‚ Level 7‚ Lift 6 Phone: 3442-7960 Email: tkunieda@cityu.edu.hk Office Hours: To be announced 1 Objectives and Outcomes 1.1 Objectives The main objective of this course is to introduce students to the basic principles of macroeconomics. Students will learn to apply macroeconomic analysis to the business world and other
Premium Monetary policy Economics 1964