Economics essays

Over the past few years Tanzania government has been struggling to solve the mismatch or disconnection between economic growth and poverty reduction. National Bureau of Statistics (NBS) of Tanzania provides annual GDP growth rate averaged 6.72% from 2002 until 2015, highest being 12.40% in the third quarter of 2007 and a lowest record of 2.60% … Read more

Resource curse is a theory of economics, multi-fingered and mining resource-related economic and social issues. Abundant natural resources, economic development could be a curse rather than a blessing, most of the slower growth in countries rich in natural resources than those countries with scarce resources. Economists attributed the deteriorating terms of trade, the Dutch disease … Read more

The decades following World War II witnessed an enormous expansion of government intervention in national economies, particularly in the 1960s and early 1970s, when the public enterprise was seen as a major contributor to economic growth and socio-political stability (Hemming and Mansoor, 1988:31). The interventionist development policies of the period resulted in the creation of … Read more

History First, Adam Smith, in 1776, first suggested the concept of absolute advantage as the basis for international trade in his publication “An Inquiry into the Nature and Causes of the Wealth of Nations”. Absolute advantage, as a principle, refers to the ability of an entity (like an individual, a firm, or a country) to … Read more

Introduction: The answer to public debt difficulties is mainly presented as an economic problematic. Individuals and companies can deal with those complications through bankruptcy. It is a legal tool that protects a person under law in order to deal with a solvability problem, namely the incapacity to reimburse outstanding debts. But for states, declaring bankruptcy … Read more

Different schools of thoughts in economics have analyzed the relationship between population growth and economic development. The debate on the relationship was pointed in Malthusian population trap (1798). Population increases was bound to stop Life-sustaining resources increases at arithmetic rate, would be insufficient to support Population increases at geometric rate Generally, there are two strands … Read more

Introduction Ever since the introduction of the minimum wage policy by New Zealand, there has been a vivid debate about its economic consequences. The policy aims to protect employees at the bottom end of the labour market from wage exploitation, yet it is simultaneously linked to increased unemployment. In the Netherlands the debate’s focus recently … Read more

An emerging economy also known as (EME) can be defined as an economy that has low to middle per capita income. The term was first coined by Antoine W. Van Atmel of the international Finance Cooperation of the World Bank. The term is loosely defined by some countries. Countries that fall into this category are … Read more

The boycott On the 7th of august 2014, Russia announced a ban off food from western countries. The ban included a boycott of all meat, diary, fruits and vegetables originated from the United States, European Union, Canada, Australia and Norway. The boycott is imposed for a period of one year. The Russian Federation announced that … Read more

Just what is money? There is an old saying that ”’money is what money does .”’ In a general sense, anything that performs the functions of money is money. Here are those functions: ”’ Medium of exchange First and foremost, money is a medium of exchange that is usable for buying and selling goods and … Read more

Hameed and Nazir (2014) argue that liberalization neutralises unemployment, citing Pakistan, as one of nations where trade liberalization has helped reduce job losses. Complementing the argument, Siddiqui and Kemal (2002) state that after liberalization, employment and production increased, generating demand for labour and imports. This dropped unemployment and reduced poverty, as economic and living standards … Read more

1. Introduction 1.1 Behavioral Economics Many of the assumptions on which economic models and theories are based are often wrong when we critically look at them from the perspective of social sciences. Thinking about yourself, do you always make fully rational choices that are only self-interested? Are your preferences time-consistent? Most of you will answer … Read more

INTRODUCTION It is no news that the concept of foreign direct investment (FDI) has become very prevalent in the world today. The advent of globalization which has led to a decrease in investment and trade barriers, improvement in transportation and communication infrastructures amongst other benefits, has more than ever emphasized the need for cross border … Read more

There are numerous theories and concepts of globalization in module one reading articles. Among these theories and concepts, I am particularly interested in the concepts of ‘time-space compression’ of David Harvey and ‘global flow of landscape’ of Appadurai (David Harvey & Appadurai as cited in Christie, 2008, p. 45 & 53). I strongly agree with … Read more

‘ Introduction Economic growth is achieved by creating favourable conditions for it to occur. In 1994 there were great expectations of a dramatic turnaround in South Africa’s economic performance. It was expected that the removal of trade and financial sanctions will transform the country’s economic performance. Since 1994 we did see an improved growth performance … Read more