Relating Recent and Important Economic Events to the Major...

Microeconomics 1 Abstract This paper presents an analysis of the most recent and important economic events and relates them to the major economic principles and theories. The economic events and issues discussed in the paper include global financial crisis, tax avoidance, expenditures on national defense, rise in oil and gas prices, rise in the level of unemployment, and IT investments. These events and issues have been discussed in the light of various economic principles like supply and demand, elasticity and production costs, market structures, labor market, government intervention, international markets, and market efficiency or failure. Draft: Relation between Global Economic Events/Issues and Economic Principles Strong Relationship / High Impact: Moderate Relationship / Medium Impact: Economic Principles Global Events / Issues Supply and Demand Elasticity and Production Costs Market Structures Labor Markets Government Intervention International Markets Market Efficiency/ Failure Global Financial Crisis Tax Avoidance Expenditures on National Defense Rise in Oil and Gas Prices Rise in the level of Unemployment IT Investments No Relationship / Insignificant Impact: 1. Global Financial Crisis (2008-09) and Growth Rate of the Global Economy The most recent financial crisis hit the world economy in the late 2007 and early 2008. It crashed theShow MoreRelatedTravel and Tourism Administration Program Structure20692 Words   |  83 Pages(Beginners) TOTAL 18hrs 18cr SEMESTER THREE Compulsory subjects: 17 TOU 215 – Travel and Tourism Management 3 3 18 TOU 226 – Fares Ticketing III 3 3 19 MAR 101 – Marketing Principles 3 3 20 ACC201- Financial Accounting 3 3 21 BUS 201-Principles of Management 3 3 Electives: One of the following three 22 STA 111 – Quantitative Methods I 23 FRE 211 – French Language (Intermediate) or 24 GER 211 – German Language (Intermediate) Read MoreBiodiversity Preservation And Sustainable Development An Analysis Of India3199 Words   |  13 Pages Biodiversity preservation and sustainable development an analysis in India Ms. Nanda Pardhey India s fast growth and huge population, scientific and techonological development, urbanization, industrialization and various other related factors are responsible for the rapid degradation of the environment and the ecosystem. Environmental problems and balancing of the biodiversity and ecosystem has become a serious issue in India, its a high time that this issues need to be curb and effectiveRead MoreAccounting Theory Solution Chapter 22641 Words   |  11 PagesQuestions 1.‘A theory that is purely syntactic is sterile.’ Comment. How can this statement relateto accounting? A syntactic theory is one that is capable of testing on the  basis that it is valid in  terms of itslogical consistency. Thus the calculation of accounting profit  and determination of assetvaluation can be valid in relation to their  conformity with rules prescribing the measurementof accounting profit and asset valuations. This can be described as sterile as it does notnecessarily relateRead MorePragmatic Accounting3985 Words   |  16 PagesThere is no generally accepted theory of accounting. There are a number of accounting theories (though a systematic attempt has been made by Financial Accounting Board (FASB) of USA and IASC and other to formulate a comprehensive theory of accounting). The definition of Accounting Theory given by Hendriksen as â€Å"a set of broad principles that (i) provide a general frame of reference by which accounting practice can be evaluated, and (ii) guide the development of new practices and procedures† leadRead MoreResearch Report On F inancial Reporting2219 Words   |  9 Pagesgoing concern assumption is a fundamental principle that underlies the preparation of the vast majority of financial reports (incorporated in the annual reports) of Australian companies†, the main purpose of this research report is aimed to investigate the importance of going concern concept to both directors and the users of financial reports. This report will focus on the problems that might rise from the absence of an appropriate going concern, the recent unfavoured macro-economy condition affectRead MoreEvolution of Accounting Thought6174 Words   |  25 PagesEldon S. Hendriksen and Michael F. van Breda, Four Thousand Years of Accounting, Chapter 2 of Accounting Theory, 5th edition, Irwin, 1992 Accountancy, from Wikipedia, http://en.wikipedia.org/wiki/Accounting. Retrieved January 20, 2011. Contents of lecture notes: 1. Introduction 2. Why bother with the history of accounting? 3. The beginnings 4. So what is ‘accounting’ (or ‘accountancy’)? 5. Double-entry accounting 6. Why double-entry accounting? 7. The period 1500 to 1800 8. The period 1800 to 1955Read MoreNational Interest’ Is the Most Important Factor in the Formation of Any Foreign Policy. Evaluate This Claim.3864 Words   |  16 PagesNational interest’ is the most important factor in the formation of any foreign policy. Evaluate this claim. ___________________________________________________________________ It would seem a self-evident claim that national interest must play a significant part, if not a central one, in the formation of any states foreign policy. This claim could be made because it would appear natural that the role of the state, in any situation, is primarily to further the interests of the society andRead MoreDhjsj14297 Words   |  58 Pagesinto some of the important questions implicitly raised by SOX regarding the audit profession’s potential failings. An outline of our primary observations and suggestions are presented in the paper’s Introduction. Does Auditing Matter? INTRODUCTION While the beginning of the 21st century has been marked by accounting scandals, a major stock market crash, and the most sweeping securities market reforms since the 1930’s, one unexpected consequence of these events is an increased awarenessRead MoreImpact of Globalization on Pakistan Economy4992 Words   |  20 Pages1.0 Title: Impact of globalization on Pakistan economy (With Reference to Foreign Direct Investment) 2.0 Background and Academic Context Globalization is multi-dimensional term. It has social, economic, political and cultural commutations. â€Å"It is defined as a process of rapid economic integration among countries driven by the liberalization of trade, investment and capital flows, as well as technological change† [Torres, R (2001)]. World is changing more rapidly and dramatically atRead MoreDemand Inventory Management4997 Words   |  20 Pagesthe forecast provided by the overseas office has a long lead time and it is not accurate because of dynamic changes such as the global economic conditions and customer taste. In real life, demand is characterised by dynamic structural change. This paper investigates the problem of an inventory control system in a high technology batch production environment. The major characteristics of the problem are: . There is some standardization of products and there are repeated orders for these standard products