CHAPTER 1 ( INTRODUCTION 1.1 DISCIPLINE OF ECONOMICS THEORY There are two different categories concerning economic behavior‚ the micro economics and macro economics. Micro economics The study of economic behavior of individual making units such as producer‚ consumer‚ household‚ and firms. Macro economics The study of economic system as a whole or on the basis of aggregate such as consumer price index‚ inflation rate‚ national income and unemployment
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political economy‚ branch of social science that studies the relationships between individuals and society and between markets and the state‚ using a diverse set of tools and methods drawn largely from economics‚ political science‚ and sociology. The term political economy is derived from the Greek polis‚ meaning “city” or “state‚” and oikonomos‚ meaning “one who manages a household or estate.” Political economy thus can be understood as the study of how a country—the public’s household—is managed
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citizens and installed fear into the rest of America and other countries as they did not want this horrifying event to strike them. These terrorists ultimate goal was to dent and cripple the United States economy by taking down its National Trade Center in order for them to lose money in stock markets‚ lose trading opportunities with countries like Canada‚ and cause Americans to spend billions of dollars towards the damage repair. This event definitely caused a lot of humiliation towards the US government
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ECONOMY OF UKRAINE 1. Economic History Note 2. Economic Overview 3. Industry 4. Agriculture 5. Services 1. Economic History Note Ukraine’s economy has historically been determined by such factors as its advantageous geographic location at the crossroads between Europe and Asia‚ an abundance of the most fertile topsoil called chornozem‚ a rich base of natural resources and a productive labor force. Metals and minerals like coal‚ iron ore‚ gas‚ stone‚ sand and salt
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population with sustained growth from a simple‚ low-income economy to a modern‚ high-income economy. (http://www.google.com/url?q=http://en.wikipedia.org/wiki/Economic_development) Bangladesh is an economically developing country. We cannot develop our country because of some major economic barriers. Economic development of a country effected by many facts including political‚ economical‚ geographical‚ infrastructural‚ international economy system‚ scarcity of resources‚ Natural disaster‚ corruption
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whether to follow a command or market economy has significant influences on the countries potential and its people. A market economy is one that gives the people the freedom to shape the economy. Countries that have a market economy include the USA‚ Canada‚ and UAE. Command economy on the other hand‚ does the opposite where the government has full control on the economy. The USSR and North Korea both have a Command economy. Both of these types of economies have social goals and strive to benefit
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Ecology and economy are two different studies that have merged together in recent years. This is because human lifestyle is having an increasingly negative impact on the surrounding environment. There has been a shift in recent years from technologies that are wasteful of resources toward technologies that use resources more efficiently and reduce pollution‚ a shift from conventional economy to sustainable economy. We are living beings on a planet Earth. Humans are living beings who depends on
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The absurdity of the methanol economy I had not actually heard of it‚ but a colleague mentioned it in the course of conversation: George Olah‚ the Hungarian-born U.S. chemist whose research is focused on hydrocarbons‚ strongly advocates the introduction of methanol as a chemical energy carrier. The basic idea is that‚ to be sure‚ we need to find a replacement for the short chain alkanes that constitute the major part of gasoline‚ aviation spirit‚ etc.‚ and which are used as the source of motive
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ECONOMIES OF SCALE Economies of scale are an important aspect of efficiency in production .Economies of can henceforth be define as ‘the reduction in average costs of production‚ that occur as a firm increases in size’. As businesses grow and their outputs increases‚they commonly benefit from a reduction in average costs of production.Total costs will increase with the increase in output‚but the cost of producing each unit falls as output increases .The reduction
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for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2008 by Joshua Aizenman and Reuven Glick. All rights reserved. Short sections of text‚ not to exceed two paragraphs‚ may be quoted without explicit permission provided that full credit‚ including © notice‚ is given to the source. Sterilization‚ Monetary Policy‚ and Global Financial Integration Joshua Aizenman and Reuven
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