INTRODUCTION This essay aims to explore the theme of rent controls as witnessed in some European cities after World War II. It attempts to examine the real life situations of rent controls in these and other locations, both then and since, using economic theory to explain such circumstances. It will initially attempt to define rent[…]
‘The global power and influence of the United States is in decline and will be matched by other rising powers.’ Discuss. This question will be discussed from two points of view: the first is represented by the declinists who argue that the position of the US as a global hegemon is now in jeopardy and[…]
Introduction Long ago, in the era of Pangea, there was one single land mass and each point was reachable without having to cross oceans. There were no geographic boundaries. Then the world became increasingly separated. Until the great conquests of America and distant continents, the world consisted of separate entities. Over time, our world has[…]
Under what conditions are states likely to engage in trade? Critically asses the theory of comparative advantage, its assumptions, the role of the World Trade Organisation (WTO) and rival explanations for state behaviour in questions of trade. International trade must first be defined in order to explore the conditions under which it will occur. For[…]
In order to study events in global politics, it is essential to develop an analytical framework; this will create a structure for the study and help to identify trends and information that might not otherwise be clear. Feminism and constructivism are often referred to as forms of critical theory and they both attempt, in their[…]
Different countries have different approaches to economic development; some focus on economic development through industrialisation while others focus on high-value agricultural production. Several factors determine which model a country should focus on in order to foster economic growth. However, to achieve growth in both urban and rural areas, it is necessary that growth-promoting strategies be[…]
1) Introduction For many years the relationship between economic growth and inflation has been one of the most widely researched topics in macroeconomics. In economics, inflation is defined as the increase in the level of prices and economic growth and is usually defined as the Gross Domestic Product (GDP). It measures the market values of[…]
Introduction Several factors, it has been claimed, have aggravated the current volatility in the markets. These factors include the discounted price of money, which led to an excessive flow of money in the market, the failure to correctly price assets that were traded and correctly assess the ability of borrowers (or mortgage owners) to pay[…]
The ultimate constraint on growth in an open developing country is the balance of payments because it sets the limit to the growth of demand to which supply can adapt – a discussion paper. ABSTRACT This paper draws on Thirlwall’s Law which asserts that if long term balance of payments equilibrium on current accounts is[…]
ABSTRACT Knowledge-Based Industries (KBIs) play a dominant role in the economic development of both developed and developing countries. In particular, they have been significant in generating economic growth, diversifying the industrial sector and improving industrial competitiveness. Therefore, many countries attempt to foster KBIs via the attraction of knowledge-based foreign direct investment (FDI). KBIs are considered[…]
Introduction This paper examines the impact that FDI (Foreign Direct Investment) had on the overall economic growth and on the growth of manufacturing and services sectors in India from 1991 to 2007. The existing literature provides conflicting results and predictions regarding growth effects of FDI to host economies, particularly for developing economies. This paper revisits[…]
Canary Wharf case analysis – valuer assessment and market capitalisation. Canary Wharf case analysis – valuer assessment and market capitalisation: AN INTRODUCTION 1. Situation Brief After the successful initial public offering in April 1999, Mr Johnson, CFO of Canary Wharf, was worried about the large difference between the book value of its properties from the[…]
Definition of a Liquidity Trap John Maynard Keynes introduced the concept of a liquidity trap. During the Great Depression in the 1930’s in the US, Keynes found that the economic stimulators did not have the necessary effects. A liquidity trap is a situation characterised by low or zero interest rates which fail to stimulate consumer[…]
Analyse the likely structure of the global economy and whether the current global imbalances are likely to remain a feature of the world economy. Transformation of Global Economics The past global economic structure could be best described as a bipolar system primarily governed by the competing countries of the United States of America (USA) and[…]
“To what extent does the process of McDonaldization exemplify Weber’s theory of bureaucratisation” As Lash (1990) ably asserts, the infinitely complex and dynamic nature of human societies means that sociology must continually evolve, resulting in few scholars maintaining any degree of longevity within the discipline. However, this paper pays tribute to one particular sociologist, Max[…]
1. Introduction The Phillips curve relation that was made known by A. W. Phillips has been a subject of controversies in the world of Macroeconomics in the last several decades. The relationship between the changes in the price level and the output gap has been rejected (most notably by Milton Friedman, 1968) and revived without[…]
The origin of BRIC The world economy has changed a lot during the past fifty years. The changes in the world economy in the next fifty years could be as dramatic as the last fifty. Many of the changes in the next few decades are expected to come from the emerging markets, as opposed to[…]
The UK’s emergence from recession has been said to be a “fragile recovery”, bringing fiscal policy under great scrutiny as economists analyse how to strengthen and quicken the pace of our recovery. During a recession, there is a direct effect of a decreased spending from consumers who have lost their jobs or have become more[…]
Ten years ago, discussions were focused on environment and social impacts and sustainable development. From environment and social responsibility, we have now moved to sustainable growth. Although an increasing number of global companies have come to recognise that corporate responsibility goes beyond the ‘good corporate citizenship’ and is a matter for strategic debate. But still[…]
This assignment critically evaluates the long-term economic impact of Brexit on the UK. It contends that the short-term economic effects are established as being largely negative due to the uncertainty created, but that the long term impact will be dependent on the views and actions of politicians. This argument is made by using recent[…]
What are the roles and functions of central banks? Why do they need Economic staff? How far should central banks get involved in data collection and areas such as seasonal adjustment, as well as economic analysis? Introduction Though Central Bank is viewed as one of the primary mechanisms of macroeconomic stabilization there are a number[…]
The relationship between unemployment and inflation, whilst not always predictable, tells us much about the performance of any given economy. a) Using the appropriate model, show how economists seek to understand and explain the relationship between unemployment, inflation and expectations. The economists use the Phillips curve to identify the relationship between unemployment and inflation. It[…]
I INTRODUCTION The food and drink retail sector represents the largest industry in the UK, providing employment for over three million people in primary production, manufacturing and retailing. In 2003 retail accounted for 9% of gross domestic product (Datamonitor, 2003). In recent years UK supermarkets have come under increased scrutiny over their treatment of suppliers,[…]
Part – A: The conventional wisdom is that tax incentives are bad in theory and practice as well. Taxation is argued to induce adverse impact, as these actions tend to distort investment decisions. Easson & Zolt (2001) argue that tax incentives often generate ineffectiveness, inefficient and vulnerable to abuse and corruption. Yet tax incentives are[…]