Outsourcing
Subject:
Tags:
companies outsource jobs to save money on employees. the new international labor division are the workers a company hires when they outsource and they get paid little wage
Economics
Macroecon - building up to monetary policy
Subject:
Definitions
• MS
• MB
• Multiplier
Tools
• Open market operation (most used)
• Discount loans/rate
• Required reserve ratio
Fiscal policy: the government affecting outcomes by using its budget
Monetary policy: the government (fed) affecting outcomes via financial markets
Money supply: quantity of money (M1)
= currency + deposits
Monetary base: Currency + reserves (except cash reserves) (M0)
Reserves-> the banks’ account at the Fed (controlled by Feds)
Imagine there’s no cash
Imagine RRR = 10%
Banks lives are simple- asset management
Let’s say the Fed wants to engage in an open market purchase
A L A L
Supply & Demand Graphs
Subject:
Here are examples of how to properly draw a supply and demand graph with increasing supply and demand
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American Revolution
Subject:
First of Enlightened Revolutions; Used French Ideologies
Causes: Economic and Political War. Seven Year's War left Britain in debt which lead to taxing the colonies [think: Stamp Act, Tea Act] and try to enforce Mercantilism (All money for Mother Country; Economy controlled by Mother Country). Because Britain tries to institute laws, Colonists become angry.
First Demand: Representation in Parliament, negated by Britain as colonists are not "full citizens". People born in colonies believe they have the same rights as British Citizens.
1783: Peace Treaty. American wins because of help from France and Distance between colonies and Britain.
A Brief History of Economics
Subject:
John Maynard Keynes was a British economist whose ideas have greatly shaped modern macroeconomics, and indeed is credited as the father of all modern macroeconomics. His ideas are the basis for the school of thought known as Keynesian economics.
Keynesian Economics states that some microeconomic decisions may lead to macroeconomic inefficiencies. In other words, if a small economy such as Arizona’s real estate market slips, it could cause the large economy it is a part of, the economy of the United States, to wane. Several branches of Keynesian Economics are used today.
Adam Smith’s economic theory basically states that as long as people act in their own self interest, the economy will remain stable to its highest efficiency.
externalities
Subject:
Externalities-
When an economic transaction happens there are spillovers some bad and some good
Spillover Costs (pollution, crime, etc) Spillover Benefits some good ( better health, quicker transportation)
What should government do to externalities, when should they get involved
People controlled
Coase theorem- If there are no large bargaining costs, people will do what is best for both them and “community”.
Lawsuits – Nuisance suits are common but do they contain spillovers? Punitive damages sometimes do the trick, but companies will always weigh activity versus cost of big lawsuit, Big tobacco, McDonalds’ coffee etc…
Government action
The Earth and Its Peoples - Chapter 23
Subject:
CHAPTER 23 The Early Industrial Revolution, 1760?1851 I?? seq NLA \r 0 \h . Causes of the Industrial Revolution A?? seq NL1 \r 0 \h . Population Growth 1?? seq NL_a \r 0 \h . In the eighteenth century more reliable food supplies, earlier marriage, high birthrates, and more widespread resistance to disease contributed to significant population growth in Europe. England and Wales experienced particularly rapid population growth. 2?? seq NL_a \r 0 \h . Rapid population growth meant that children accounted for a relatively high proportion of the total population. Population growth also contributed to migration of people from the countryside to the cities, from Ireland to England, and from Europe to the Americas. B?? seq NL1 \r 0 \h . The Agricultural Revolution
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