Economics

International trade can have big effects on domestic markets. For both an import good and an export good (in other words, address each bulleted item below TWICE—once for import and once for export), describe how opening up to international trade affects the following: supply or demand for the particular good, the competitiveness of that good’s market, and how the change in competitiveness affects equilibrium price and quantity. Stepping away from the import/export examples, describe how opening up to trade specifically affects a domestic monopoly. Include an explanation, USING GAME THEORY, of how even a single additional competitor can lead to a market outcome similar to perfect competition.

Listen to the following two podcasts and write a one-page, double spaced summary for each (two pages required for the assignment).  For each summary, write a one-half to two-third summary of each podcast.  In the second one-third to one-half, provide your opinion and how the podcasts fit into the material presented in class.  You can extend your comments to two pages per podcost, for a total of four pages total.

Explain economic principles and their applications in the real world. Summarize the different types of market structures and the role of government in economics. In the workplace, we are often asked to create “briefs.” A brief provides a snapshot, or short, written summary, of a situation or event that has occurred. It is generally just a few pages long and may include additional visuals like a graph, chart, or table. In this assignment, write a brief about economic concepts in an industry that interests you.

This course discusses different measures to understand the economic conditions in an economy. You will be looking at states within the United States instead of another country. The purpose of this assignment is to have you gather information on various measures for states in the United States and use this information to arrive at a conclusion about the economic well-being of a state. Steps: Step 1. Choose any 5 of the 50 states in the United States that you would like to compare. Step 2. Use the resources available at the library or online to get information on the following macroeconomic measures for each of the 5 states for the year 2016 or the latest available date. You must collect all the 15 pieces information indicated below for each state. Make sure the data is in the right units. i)  Real GDP (in US$) since this is for a state it is called Gross State Product ii)  Size of Population (in millions) iii)  Labor Force (in millions) iv)  Per Capita income (in US$) v)  Unemployment rate (percentage) vi)  People below poverty level (percentage) vii)  Consumer Price Index (CPI). viii)  Top 3 occupations with the most people employed and their average yearly salaries. ix)  Top 3 occupation with the highest salaries and their average yearly salaries. x)  % of population 25 years or higher with a Bachelors degree or higher (percentage) xi)  Median home price (in US$) xii)  Home ownership rates (percentage) xiii)  Violent Crime Rate (per 100,000 inhabitants) xiv)  % of people not covered by Health Insurance (percentage) xv)  Households with internet access (percentage) (Good sources for all this information are the US Census Bureau, Bureau of Economic Analysis, Bureau of Labor Statistics, and the Federal Bureau of Investigation. However, you are free to choose any other source as long as you cite the source for all the information collected for your assignment.) Step 3 (Week 8 submission). Turn in all this data for the project on one page in an Excel spreadsheet by the end of week 8 on Ulearn. It is important you be able to format everything to make it easily presentable and readable to any audience. Feedback will be provided on the data if required and these changes need to be incorporated before you turn it in with the final paper. Step 4. Write a report that addresses the following topics: Compare and contrast the 5 states you have chosen. Provide an economic argument and rationale for choosing one of the 5 states in your group that you would prefer to live and work in? Use the data on the above 15 variables collected by you to write a paper on how the 5 states compare to each other and which of these states would you rather live and work in. You are free to use any additional information you want. Include the above Excel data spreadsheet with all the data in your report. Step 5. (Week 10 submission) Turn in your report on Ulearn (written 3 page minimum + 1 page data spreadsheet + citations, MLA format) by the end of week 10.

State capitalism—–Definition, Characteristics, Advantages and disadvantages, Future trend, Link it to China: Is China state capitalism?

Explain the possible impacts of legalization on the market for currently illicit drugs. In your response, address the potential increase or decrease in prices, how demand will be affected, and other possible social costs/benefits. Which drugs do you think will be affected the most and which do you think will not be affected. Based on your analysis justify which drugs should be legalized and which should not.

Find any Internet resources(one for each concept below, they can even be from famous journals or newspapers like a historical event, some affecting case, journalistic material, statistical or scientific research from google scholar) and describe everything in one economics essay (all information from sources should be in terms of economics), APA format, with the cover page and works cited list. Not less than 3 pages needed, not including the works cited list and the cover page. 1. Inflation is bad, but deflation may be worse. 2. Saving, investments, and their relationships to the international flows. 3. The prices for international transactions: real and nominal exchange rates (can be separated for two parts(real and nominal), in exchange for some of the concepts that are hard to find) 4. How monetary policy influences aggregate demand? 5. How fiscal policy influences aggregate demand? 6. Shifts in the Phillips curve: the role of supply shocks. 7. How policies and events affect an open economy: government budget deficits, trade policy, political instability and capital flight? (pick one, or in case you could not find sources for many the concepts above, pick the rest from this point number seven instead and make them separate concepts.)

Explain two important differences between the labour market and the product market. Explain why the value of the marginal-product curve for labour is also the demand-for-labour curve in a perfectly competitive labour market. Explain two factors which shift the demand for labour and two factors which shift the supply of labour. Provide four reasons why some workers receive higher wages than other workers.

In 1944, finance specialists and bankers from around the world met to discuss what the post-WWII monetary system would be. Given the instability of the pre-war period, the goal was to create a new system. The outcome of this was the Bretton Woods system, which had the U.S. dollar as the world reserve currency linked to gold at $35 an ounce. All other currencies were tied to the dollar with limits on how much they could appreciate or depreciate. The system lasted until the 1970s, when the United States decided to move away from gold convertibility. The modern system is based on supply and demand for currency and a managed float. Discuss the following in your main post: The U.S. dollar remains the world’s reserve currency. Is this good for the United States, and if so, why? People usually think a “strong” dollar is good. Is this true for U.S. businesses, and does it help or hurt the U.S. balance of payments?

After briefly explaining the key differences between the endogenous and exogenous money approaches, explain how Christine Desan’s monetary framework is in the former money tradition and what important new insight it provides. A good essay will need to explain how money is fundamentally sovereign in nature in Desan’s framework, i.e. it has a political foundation.