Explains India's economic performance by taking an in depth look at the economic, political and social change that has taken place within India during the postwar years.
2,900 words (approx. 11.6 pages), 5 sources, 2002, $ 106.95
Abstract This comprehensive study is aimed at the major economic, political, cultural and social changes and crises that have taken place within India during the period in question and it will attempt to assess the extent to which these factors have shaped the country's economic performance. Included in this analysis will be an assessment of economic development and social change, the economic and political aspects of agricultural change, as well as political change, political structure and the functioning of government. Attention will also be directed towards the caste conflict and language differences as well as the extent to which they have had an impact on the level of economic development that India has been able to achieve and the nature of this development. The main hypothesis that will be tested in this study will be the following: while India has achieved relatively significant economic advances during recent years, especially in light of the country's status as a Third World nation, these advances have been limited.
Abstract This paper reviews Diane Coyle's book "Sex, Drugs, and Economics," which uses far-reaching examples such as the sex industry, illegal drugs, and sports to illustrate basic economic concepts. Coyle's thesis is that economics can explain human behavior in virtually every sphere of human life. Her book attempts to show this through basic economic concepts, such as supply and demand. Economics also is helpful to make apparently inexplicable aspects of human life clearer, such as why persons engage in risky activities more as teens than during other periods of their life, or why people chose to take illegal drugs. The paper concludes by stating that Coyle's book makes economics more understandable through its original and refreshing format.
From the Paper "Coyle analyzes the drug industry to examine the ways in which the industry functions much like a legitimate market. For example, dealers give away free samples, like marketers do with new forms of soap or shampoo, to get potential customers addicted or 'hooked' upon the product. (9) However, despite the fact that up to 50 percent of Americans have tried some form of illicit drug, not all drug consumers become hooked--the core market of persons who are addicted drive the incentive of sellers to continue to supply their habit, and the lack of comparable substitute goods for growers that yield a competitive profit creates an incentive to maintain the supply of the drug. (10)"
Abstract This paper discusses the advantages and disadvantages of forming an economic union, and possibly a monetary union to which members could, subject to conditions, apply to join. Factors such as possible membership, timetable, trade and investment effects, convergence of economies, economic and social consequences and administrative structure are covered briefly, yet concisely. The experiences of the European Union/Monetary Union are used as support for the arguments which are presented in the paper.
Outline:
Introduction
Background of the study
The Aim of an Economic Union
The Disadvantages of an Economic Union
Economic Union and the Dilemma of Collective Action
Arguments Against an Economic Union
Advantages for an Economic Union
Conclusion
From the Paper "A vital question for the triumph of an economic union is whether the economic union placed by an autonomous, supranational central bank in addition to fiscal (and other) procedures managed by a national government is helpful not only to price-steadiness but also towards economic development. This concern related to an economic union stems mainly from the commencement of the euro during 1999. Since the Euro inception, there has been a constant flow of disapproval concerning the EU'S system for economic union and harmonization. The Stability and Growth Pact (SGP) - perhaps, the most well-known aspects of union -- has been constantly criticized by economists as an unimagined, dull and eventually counter-productive procedure that encourages pro-cyclic fiscal procedures, slows down economic revival and harms the durable growth prospective of the EU financial system. In addition, accusation has also been cited, quite frequently, against the incapability of the policy structure to provide a logical policy blend, as well as, laments the deficient of suppleness in policy management (Fitoussi and Creel, 2002)."
Abstract This paper discusses how throughout history, politics and economics have always affected each other in a variety of direct and indirect ways, for political ideologies are often based upon economic theories and economies have thrived or stagnated in accordance with contemporary government economic policies. In recent years, this close relationship between politics and economics has been demonstrated by the emergence and development of globalization, which is primarily based upon free trade and the political promotion of global business interaction. The paper notes how political proponents of globalization and many economic theorists contend that global trade creates enough economic gains that everyone involved can benefit, as long as the gains are widely redistributed between national trading partners.
Abstract Paul Krugman's book, The Return of Depression Economics, examines the economies of seven different countries that produce the majority of the economic output of the world, and how each has been affected by major economic slumps throughout the world. This interesting yet very complicated book offers a tour of the major economic crises which have spread across the world in the 1990s, including those of East Asia, Brazil, Mexico, and Russia. Paul Krugman provides brief accounts of the devaluation of Thailand's baht currency, the "financial doomsday machine" created by hedge funds, and the "liquidity trap" of the Japanese economy. Krugman's light journalistic style is easy to read for the most part and is well-targeted at his intended audience. Many of the nine chapters stand very well on their own as slightly extended versions of what is known in the US as op-ed pieces. For example, the chapter on hedge funds contains as clear an explanation of the operation of such funds as a layman could get anywhere. It also contains a number of brief, enlightening and well-written stories under sub-headings like 'The Legend of George Soros' and 'The Madness of Prime Minister Mahathir', and concludes with 'The Panic of 1998' which outlines the demise of Long Term Capital Management. In other chapters there are equally succinct and fascinating stories concerning Mexico, Argentina, Thailand and so on. Some of these extracts ought to make very useful reading to stimulate discussion on undergraduate macro, international or development economics courses. It is the purpose of this paper to examine the major themes of Krugman's book.
Abstract This paper discusses how neoclassical economics provides an evaluation of current economic situations as they relate to elements within society. Neoclassical economics is a form of macroeconomics that allows for an evaluation of these elements that may include pricing employment spending consumption and the value of money. The paper further discusses how neoclassical economists as more capable of realizing the shift in the economy over time they can then produce resolutions to issues that may be affecting the problems that are related to the current economic condition. Neoclassical economics also focuses on the individual and his or her relationship to the economy.
Abstract This paper discusses the question of including thermodynamics in the study of economics. It is very important to include it when studying neo-classical economics and free-market activity because it alone seems capable of introducing consumption pattern analysis into the study of economics. Thermodynamics is important within ecological economics and within economics in general because the environment within which all economies function is anchored in a finite system that is constrained by its very nature and character.
From the Paper "Resources are limited and many are not reproducible in any type of practical natural sense that would allow even sustainable growth models to be applicable. Petroleum will eventually be completely depleted and the natural process of producing it is simply not a practical option that would result in sustainable consumption patterns. "
Abstract This paper discusses an empirical economic impact model based on market research at the community and municipality level. The writer discusses the belief that communities and municipalities require effective economic impact models in order to adequately build and estimate budgets as well as to plan for future development needs. The writer proposes a community based cooperative action program that emphasizes a three component economic analysis model.
Table of Contents:
Introduction
Impact Model Applicability
Economic Impact Analysis
Economic Impact Component
Community Impact Component
Fiscal Impact Component
Three Phase Process
Conclusion
From the Paper "The contemporary economic climate ensures that communities require ready and immediate access to information that allows them to respond more effectively to economic volatility. Community leaders as well as citizens within the community constantly are required to make decisions that impact various aspects of the community, such as business growth, dimensions of traditional industry activities, land use issues, and a host of other common community concerns (Gibbs 18). The growing observation is that all these issues and more also impact the overall economic indicators within communities as well which consist of employment/unemployment concerns, income issues such as poverty or affordable housing, or the demand for expanded public services. In researching these issues it becomes vital to identify the particular issue or problem which allows both the researcher and the community leader the ability to better address such issues specifically (Green, et al 6). Thus, developing effective economic models relies on cooperation between both researcher and, in effect, the researched."
Abstract This report (including six-pages of graphs) examines the contention that the population born after World War II is characterized economically by conspicuous consumption, escalated credit card use and neglect of saving for the future. By examining indices of the population's economic behavior, the paper concludes that the contention is an unwarranted generalization.
Tags:ECONOMICS / ECONOMIC THEORY, economic population indicators
Abstract This paper compares the economic reforms and the results of those reforms of both Russia and China during the 1990s and analyzes why Russia's economy has made a dismal performance whereas China's has emerged successful. The paper explains that Russia tried a "shock" approach to economic reforms, while China took a more gradual approach to reforms and, perhaps this fundamental difference in approach is the primary reason that one country has done well while the other has suffered. The paper also consider the historical conditions of each country and how these conditions influenced the outcome of the economic reforms as well as how the differences in the allocation of resources affected the economic reforms and their outcome.
Introduction
Discussion
Conclusion
From the Paper "Ever since the beginning of 1990s, the attention of the world has been concentrated on the persistently emerging relationship between the Russian Federation and the People's Republic of China. Much has been authored on the costs and benefits of such relationship and the prevailing analysis already tends to support China as one of the dominating states to come out in the coming decades in comparison to Russia. (Russia and China: Business Partners, Weary Neighbors) Hopefulness over the market restructuring of Russia wiped out with the crash of August 1998, when the ruble depreciated by 70 percent of its value and banks could not settle the debts and endorse currency contracts. In contradiction to the reform assurances by Yeltsin, the Russian economy of the 1990s more closely resembled a Soviet model than a market driven one. (The Logic of Economic Reform in Russia) "
Abstract This paper reviews certain economic indicators and forecasts them 18 months into the future. The economic indicators include personal income, number of new jobs created and business productivity.
From the Paper "This is a statistical study of certain economic indicators. Based on the premise that the performance of these past economic indicators is a good predictor of their future behavior, each of the charts provided below was constructed based on historical data found at the United States Bureau of Labor Statistics website. The forecasted information was done using linear regression analysis, which is one of the features or functions of Microsoft Excel. In general, the goal of linear regression is to find the line that best predicts Y point..."
Tags:Economics, economic indicators, employment, statistics, forecasting, personal income, income growth job creation, employee productivity
Abstract This paper points out that economics and environmental factors have been inextricably intertwined since economics developed into a distinct area of specialization. In fact while many consider the field of economics to be uniquely confined to monetary systems, other experts and analysts alike have for the last 150 years recognized that economic forces are dependent upon environmental factors such as the development of natural resources.
Abstract This paper discusses China's economic policy and growth refracted through its foreign policies, its geo-political designs, and its internal consumption patters vis-a-vis energy and specifically petroleum. The research design is qualitative in approach and the conclusion is that while China has, in the past, united its foreign policy with that of its economic policy, and visa-versa, it has now begun to unwed these particular governmental dimensions with uncertain results. In the future, China is seen as possibly undermining the economic growth it was worked so hard to achieve by uncoupling foreign and economic policies.
From the Paper "Table of Contents Introduction 04 Economic Theory 04 Applied Theory 06 Literature Review 06 Foreign Policy as an Economic Weapon 07 Monetary Policy 19 Economics of Petroleum 23 Methodology 28 Philosophical Rationale 28 Theoretical Foundations 29 Research Design 30 Empirical Findings 30 Conclusion 31 References 33 China: Dimensions of Economic Growth Introduction Economic Theory The neoclassical approach to the study of economics hinges on the allocation of resources that are distributed across needs and satisfactions. Supply and demand is often used to characterize neoclassical economics and is useful in that the economic investment in capital: human, physical, or intellectual, is the primary driver behind the theory of supply and demand and the meta-theory of neoclassicism. Neoclassical theory prefers that individuals behave rationally in the market which, consequently ensures that products and services are consumed efficiently and that, by extension, enterprises generate profit just as efficiently. "
Abstract This paper discusses the nature of Islamic finance and economics, as well as the principles derived from the Koran that govern economics in Islam. The paper notes that modern Islamic economics is based on several religious laws set forth in the Koran, as interpreted by various scholars, and modern economics in particular have been shaped by readings of the Koran beginning in the 1940s.
From the Paper "Islamic economic practices are governed by tents from the Koran and are embodied in Islamic law, known as shari'ah. These tenets govern business, economic decisions, and other aspects of social discourse in Islamic societies. Islamic economics is based on several religious laws set forth in the Koran, as interpreted by various scholars, and modern economics in particular have been shaped by readings of the Koran beginning in the 1940s. Analysts note the way society expresses its form in Islamic theocracies and the power of shari'ah, or Islamic religious law."
Abstract This paper explains that, beginning in the early 1990s, India began to redirect its political and economic apparatus towards a more free-market orientation, which has resulted in a cycle of remarkable growth and expansion. The author points out that, beginning in 1991, political leaders ended the traditional License Raj economic model, which resulted in monopolistic behavior and stifled foreign direct investment. The paper relates that some of India's economic expansion has been attributed to its insistence on expanding public expenditures within the market. The author points out that India deems all public expenditure to be development related and views this type of investment as a requirement rather than a socially driven discretionary investment. The paper reports that a value added tax (VAT), other tax code adjustments and a fully convertible currency were introduced.
Table of Contents:
Introduction
Initial Reforms
Market Liberalization
Current Economic Status
From the Paper "The country's revenue expenditures have increased across some spending segments by as much as 400% between 1990 and 2004 and this spending has continued to fuel economic growth. These large spending and investment packages are achievable because of the market reforms made during 1991. While much of India's population that exceeds 1b individuals is classified as impoverished, it still represents one of the largest tax bases in the world after China. Such a large potential tax base was going relatively untouched until 1991 when the tax codes and collection apparatus procedures were also reformed."
Tags: free-market, license raj economic model, public expenditure, currency, tax
