What Is Economics

It never fails that when I ask people to describe the field of economics, the typical response is that it is the study of money or how to earn money. Moreover an ever increasing number of people regard economics as a form of politics or perhaps political science. Grading on the simple pass/fail basis all would of course fail.

Economics is mistaken for finance by some and politics by others. The later tends to sting a bit. Nevertheless, perhaps the confusion is understandable. After all economics must by necessity address matters common to both areas of understanding. Such has been the case since inception. Be that as it may the fact remains that, economics is best described as the study of human behaviour.

-What?- you say. -What about money, debts, saving, budgets?- Well economics certainly involves all those things and economists have been known to go on for hours on the pros and cons of public policy decisions. But at its core economics is the study of how flesh and blood human beings (not abstractions thereof) and the institutions they engender actually respond to various types and degrees of stimuli. Economics addresses financial implications without addressing the organization of financial data which is best suited to financial experts. Economics addresses the incentives and/or disincentives resulting from public policy and not necessarily the policies themselves which is best suited to politicians. Hence the economist focuses not so much on the tax rate as on the manner in which said rate affects human behaviour which in turn has a direct even if long term effect on the overall state of social institutions. Most importantly, economics answers the ever-ellusive -Why?- Why does an increase in demand drive prices higher? Why does welfare (corporate and social) incentivize licentiousness on the part of the recipient? Why do even good ideas generate diminishing returns over time? Why do certain policies produce results at odd with the intensions of those who author them? Why?, Why?, Why?, ad nauseum.

The problem is not that the confusion exists. Rather it is the fact that it causes the layperson to misconstrue economic laws for political rhetoric. This is particularly problematic when one is confronted with Austrian Economics for the -Austrian- is always deemed to be championing the political views of a specific politician and/or political party.

How to correct the problem? Well, I’ll leave that to the social theorists. I’m only an economist.

Studying Economics, Chemistry And Biology With Exam Confidence

If you want to excel in your exams, then our well organised and highly structured revision courses are exactly what you need. They are taught in small, friendly classes with an average of 6 students in each class.

Our economics revision makes learning economics straightforward. Content is organised in five key areas, including the theory of competitive markets, market failures, the national economy, business economics and the global economy. Exam Confidence provides intensive economics revision courses for A Level students making the understanding of the unit so much easier. Our economics revision courses under AS and A2 level run as two day courses, starting the 22nd December.

Exam Confidence also offers chemistry revision courses for the excellent boost which students need to attain the maximum grades. Our team of examiner trained teachers for Chemistry have brought together their expertise and strong experience to get your head around your chemistry revision course. Book onto a chemistry revision course today with Exam Confidence and you’ll have access to chemistry exam practice questions and the quality teaching to help you boost your Chemistry grade.

For those studying Biology as one of their A Levels, we would like to express that we run the best biology revision course in London. For you, a biology revision course with Exam Confidence provide effective learning for A Level Biology students, free from distractions and in a supportive environment.

Each biology revision course run for two days. Each involve a group with no more than six students, allowing ideas to be shared more effectively and giving everyone the chance to raise their individuals with the expert tutor.

Of course you want to turn in the best possible exam performance in your exams. However, simply wishing hard for success will disappoint you in the end. What you need is a solid skill set in taking your exams.

Students are rarely born with these skills, yet at Exam Confidence, we can show you exactly what they are and how to harness them for the results you’re looking for. Our goal is to give you the most comprehensive and thorough training available today to maximise your educational success. During the workshops at Exam Confidence, you will work on key areas proven to improve your exam results. These are: syllabus review, exam technique and exam practice. Last Easter, over 87% of students improved their exam results after attending just one of our courses.

Causes Of Economic Recession An Overview

Over the course of the past year there has been a significant amount of media attention being paid to the subject of economic recession. With that said, you may be like many people and find yourself worried about facing the prospect of an economic recession. But, you may not exactly know what are the causes of economic recession. Through this article, you are presented with an overview of some causes of economic recession. By way of this information, you will have a better idea of what you are facing when it comes an economic recession.
Generally speaking, when it comes to the causes of economic recession, there normally are a number of contribution factors. In other words, there tends to be a number of factors that combine to give rise to the causes of economic recession.
With that noted, one of the more significant causes of economic recession is inflation. In most instances, an inflationary period does precede a recession. In some instances, more significant inflation becomes one of the primary causes of economic recession. In the end, inflation has its most significant impact on consumers.
The national debt can also contribute to recession. The higher the national debt grows, the more money the government is forced to borrow in a particular fiscal year, the higher the odds are that a recession might be around the corner.
Beyond inflation and an increase in the national debt, a devaluation of the national currency can also be one of the causes of economic recession. In other words, when the currency exchange rate of a nation’s monetary unit becomes adverse, recession can be in the offing.
As was noted previously, in most instances these various causes of economic recession come together in advance of an actual recession. These different economic problems interplay with one another to cause a recession. Historically, when recessions have occurred, the existence of a number of these causes of economic recession could be seen contributing to the actually recession that ended up taking place.
A recession technically is said to be taking place when there is negative economic growth over the course of two consecutive quarters (or six months) in the course of a given year. These different causes of economic recession are all used as economic indicators to determine whether or not a recession is about to occur or is in fact occurring.
There are also some other causes of economic recession that can play into the mix. However, with that said, the causes of economic recession that have been noted in this article are the most common of these contributing factors, the causes of economic recession that are most commonly seen.

Car Hunting At Government Seized Car Auctions Is A Wise Decision

Buying car is not just an easy task due to the various requirements it needs; financial consideration is one among the many factors. If you have been tired of the process, why not consider buying at government seized car auctions? Going to mainstream car dealership for car purchase can be very stressful, in the sense that you have to contemplate on its current market value, to the fact that only can-afford ones are able to get a new car immediately. Some government agencies or commercial bank can offer financial aid to you but the question is: Can you faithfully complete your repayment obligations? So, you need to consider your financial capabilities. So, why insist on buying brand new car if you cannot afford to? Besides, you can still own a car through government seized car auctions. Car auctions markets can offer you a wide array of cars where you can choose from and can finally give you a chance to own your dream car.

You can find various cars of different models and makes at government seized cars auction market. Vehicles at impounded government car auctions range from old to the new models, from the still functioning vehicles to the most deluxe cars. Car auctions markets have no big difference with the normal car dealership markets. The only difference is that in car auction market, cars are sold fast since it requires only minimal documents. To get your most desired car, you only need to visit frequently the place where the government cars auction is held.

It is a great idea to purchase a brand new car at the mainstream car dealership markets only if you are financially capable. But if you think you’re not, it would only let you swim to a pool of financial obligation. So, if you really in dire need of a car, you may consider visiting some governments seized cars auctions and see the possibilities of getting one. In this market, a prospective buyer can enjoy owning a car that is still in good condition at a very affordable price. Prior to buying impounded cars, you just need to gather enough information at your local newspapers where car auction details are published for public awareness.

Before going to government cars auctions, you must be equipped with enough knowledge and information about the auctions such as the proper authorities whom you can make arrangements or schedules of viewing and inspection. This will help you ease your participation in the auction as well as help you decide what particular car you prefer most. If at first scheduled auction, you are unable to get the car you want, you do not have to worry; you just need to make a frequent visit to government vehicle auctions for the next auction. The only thing you need is to be properly informed about possible car auctions venues and for that, you will be guided properly on how to grab your desired car.

Igcse Economics Past Papers

IGCSE examinations are offered by the University of Cambridge, IGCSE stands for International General Certificate Secondary Education. This course is offered in many subjects and many countries.

There are 5 easy steps to pass the IGCSE economics examination

1. Read the endorsed Books.
In order to pass IGCSE economics examination, the students should read the books and notes endorsed by the University of Cambridge. University of Cambridge only endorses the books which are written by professional and experienced educators who have a vast knowledge in the particular field.

2. Approved center
The students should take admission in an IGCSE approved center. Approved centers are the schools or institutes fulfilling the requirements of University Cambridge. If you are taking the exam privately then you should study very hard.

3. Past Paper Questions
Students should practice the IGCSE economics past paper questions. These past paper questions help the students a lot and give them an overview of how they would perform in the real exam, and if they practice or do the past paper questions they are likely to get very good grades.

4. Study hard
Study hard. This examination is considered a very hard one. So you will have to work really hard to pass it. You will have study regularly and set a timetable. If you start studying in the last 3 months things are going get really difficult for you. This examination is testing your constant hard work over a long period of time.

5. Revision notes
The fifth and the most important step to pass the examination is studying revision notes. The students should prepare their own revision notes in order to understand the concept clearly. If he/she is unable to do so he/she should borrow it from a friend. If your friend does not have get it from an enemy because believe me they will help you get A grade in the IGCSE economics examination.

Gross Domestic Product Not A Good Measure Of Economic Health

The percentage of growth in GDP is used, at times, to measure health of the economy. The United States GDP estimate has been downgraded recently to just a couple percentage points. News reports often cite the Gross Domestic Product to explain the health of the economy. Economic progress, however, is far too complicated for one number to measure. The GDP is simply outdated. Article source – Why GDP is not the best measure of economic growth by MoneyBlogNewz.
What you need to know about the Gross Domestic Product
The entire value of goods and services in a country is represented by the GDP. GDP began as a measurement of the standard of living in various countries, however it is used in several other ways. Finding the GDP takes a special formula. It calls for adding up government spending, exports, gross investment and private consumption. Congress was given a report of Gross Domestic Product in 1934 for the first time. Simon Kuznets put it together. Decisions were made by the Federal Reserve on this. That is what the GDP was good for.
The information measured by the GDP
The limitations of the Gross Domestic Product have been clear for a long time. The “real” Gross Domestic Product is released by the Bureau for Economic Analysis that adjusts the number. Without that adjustment, the GDP would always appear to be growing with the rate of inflation. The Consumer Price Index, which is a way of measuring the inflation or deflation of the cost of most household goods, also has no impact on the Gross Domestic Product. Even though the American has less income if households go up by 400 percent, the GDP will go up.
Comparing GDP with credit card
Since negative numbers aren’t taken into account, the Gross Domestic Product has the biggest problem with that. To translate the Gross Domestic Product in terms of a household budget, it would be as if you calculated the health of your household finances based on how much money you spent — both in cash and on your credit cards. There are several things left out. There is the possibility a mortgage payment won’t be made, the spending budget could be damaged and eventually the cards have to be paid. Measuring the economic growth of the United States — or any country — based solely on Gross Domestic Product is too simplistic to be accurate.
Citations
The Money Alert
themoneyalert.com/GDP.html
Blogging Stocks
bloggingstocks.com/2010/09/10/economists-lower-2011-u-s-gdp-growth-forecasts-to-2-5/
Investopedia
investopedia.com/study-guide/cfa-exam/level-1/macroeconomics/cfa3.asp

Asean Sculpture Garden – Harmonizing Nature And Sculpture

Kuala Lumpur, the federal capital of Malaysia, is one of the fastest growing cities in terms of economy and urbanization. The city is the official seat of the Parliament of Malaysia, and is the country’s cultural and commercial hub. It is also one of the most popular tourist destinations in Southeast Asia owing to its vibrant society, bustling commercial districts, and cultural as well as leisure attractions.

One of the most splendid, yet unfortunately somewhat unnoticed, attractions of Kuala Lumpur is the ASEAN Sculpture Garden. Constructed for the purpose of harmonizing the intricate beauty of sculpture with nature, this sculpture garden is home to several stunning pieces of art. Therefore, it should be visit by any lover of fine art and sculpture.

Located in close proximity of the National Monument of Malaysia, the ASEAN Sculpture Garden is one of the most peaceful and quiet gardens in KL. Home to several award winning pieces of sculpture by artists of the Association of South East Asian Nations, this garden is ideal for those who love to spend hours marvelling the fine intricacies of art amidst a tranquil atmosphere. Constructed in 1981 upon recommendation of the ASEAN Sculptures Symposium held in Singapore, this garden also serves as a symbol of the strong unity between the South East Asian nations. One can find several sculptures made of various materials such as iron, wood, marble, clay, and bamboo.

Most of the sculptures contain placards containing a description of what the sculpture represents. Yet there are sculptures without placards, which are free to be interpreted according to what you think. With several of the finest works of art by some of the best artists in the region, along with the tranquillity of this site, the ASEAN Sculpture Garden is considered to be one of the most inspirational and refreshing attractions of the city.

For a comforting stay in some of the most reputed serviced apartments Kuala Lumpur Malaysia, make your reservation at Somerset Ampang Kuala Lumpur. Located on the prestigious Embassy Row of the city, this residence offers accommodation in a range of elegantly furnished and spacious apartments. It also offers many state-of-the-art facilities, making a stay in a service apartment in Kuala Lumpur of this residence both convenient and comforting.

Asia Pacific Pharma Market Exhibiting Exhilarant Prospective

Asia-Pacific region is emerging as the fastest growing pharmaceutical industry in the global pharmaceutical arena. In recent years, healthcare demand among the regions populations have increased and its low operating costs continue to attract pharmaceutical companies. For instance, GSK, Pfizer along with other pharma companies have opened their manufacturing facilities in South Korea and various other countries of the region. It is also emerging as a powerhouse of pharmaceutical Research & Development (R&D) facilitated by the availability of a vast patient population, quality data, lower costs and skilled manpower. In future, the Asian-Pacific pharmaceutical market is projected to grow at a CAGR of around 10% during 2012-2015.

Research Analysis & Highlights

The report, Asia Pacific Pharma Sector Analysis by RNCOS, which is spread over 160 pages provides an in-depth research and rational analysis of the current status and expected position of the Pharma Market in Asia Pacific. It thoroughly examines all prominent emerging trends and drivers, which are fueling growth to the industrys development. It will provide indispensable information to clients in understanding the market dynamics and to get an insight of the industry at the micro level.

The report presents information on the key competitors in each country in the Asian-Pacific region along with their business details and areas of expertise. It also presents a highly concentrated structure of the market, along with the top players dominating the market. A segment level analysis of the industry along with emerging trends that may shape up with the betterment of economic conditions is also presented in the report. The research will help consultants, industry analysts, and vendors to get an in-depth knowledge of the current, past, and future performance of the industry.

Some of the reports key highlights include:

– China Pharma Market Thriving Unprecedentedly
– South Korea pharma Market to witness double-digit growth
– Pharmaceutical industry in India Holds Immense Opportunities for Growth
– Booming Medical Tourism Market in Asia-Pacific

For FREE SAMPLE of this report visit:

Some of our Related Reports are:

– Global Telemedicine Market Analysis ()
– Personalized Medicine Market Analysis ()
– Global Regenerative Medicine Market ()
– Emerging Pharmaceutical Markets Globally()

Check Related REPORTS on:

About RNCOS

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.

Ethylene Prices In Asia Pacific Or To Increase Downstream

Japanese imports of petrochemical products in China earthquake will have a greater impact,CAS 603-33-8, the Asia Pacific region and will further lead to rising prices of ethylene downstream products, and effects may continue at least 2 to 3 months, but have little effect on exports . March 18, China Petroleum and Chemical Industry Association, deputy director of the Ministry of Information and Market Zhu Fang told reporters.

Zhu Fang talking about, according to the current understanding of the situation analysis, two major earthquakes in Japan can not be ignored: First, oil demand in Japan, a corresponding reduction in the supply of petrochemical products, to reduce the contribution of the Asia-Pacific region; Second, China needs high-end , high value-added petrochemical products and from China to Japan’s high dependence on a reduced supply of bulk raw materials, thus triggering further increases in the Asia-Pacific petrochemical product prices.

Import and export of petroleum and chemical industry from the situation, Japan is China’s third largest trading partner of Japan in recent years China has maintained a large trade deficit, this pattern continues today. 2010 China import and export of petrochemical products to Japan totaled 35.62 billion U.S. dollars, of which imports from Japan amounted to 26.08 billion U.S. dollars,fine chemicals exporter, came in third; China’s exports to 9.54 billion U.S. dollars in Japan, came in second place. China is not only on the production of ethylene glycol from Japan, PTA (purified terephthalic acid), polyethylene, polypropylene and other bulk imports of many products, and engineering plastics, high-end products such as modified resin also a lot of imports , while exports to Japan mainly concentrated in a few primary chemical products.

Zhu Fang pointed out that Japan earthquake affecting the world petrochemical market trend factors, is a very recent period. Learned from the latest case, the current area of petrochemical facilities in Japan quake largely intact, but affected by the nuclear accident, the power supply is not stable. Taking into account after the earthquake produced the first Japanese companies to restore power to protect the stability of supply, secondly on the plant, and equipment re-evaluation, so at least 2 to 3 months, the petrochemical market will be some uncertainty in the supply and demand.

It is understood that the transport of petrochemical products have special requirements,Triphenyl Bismuth, earthquake and tsunami on the Japanese port facilities will also have an impact, so the import and export of petrochemical products are subject to certain constraints. Source:

Nobel Prize for economics 2012

The Nobel Prize in economics was given to lvin E. Roth of Harvard University and Lloyd Shapley of UCLA for their work in market design and matching theory. The award was announced by the Royal Swedish Academy of Sciences on Monday.

According to interpretation of the academy the work of American scientists, Roth and Shapley, focuses on finding the most efficient way to match parties in a transaction, which can be applied and considered on different issues whether it is students to schools or organ donors to recipients, the theory is supposed to work efficiently. In their conjoin work Shapley used game theory with the purpose to study matching models, when Roth built on them to make some real-world changes markets which exist. Those markets included school choice and organ transplants where the theory has been already used.

If to be more specific, some elements of the work have been already built into the software that guides such an important issue as kidney donations in the United States; as well as some elements have been already applied in some school choice models in New York, Boston, New Orleans and other U.S. cities. All that facts were mentioned by Roth during the interview on Monday. Roth also told to reporters that he had been awakened by an early morning call and informed about their win. According the words of the laureate he was not expecting the prize at all but he was honored so much to share it with Shapley. He also added joking, “I’m sure when I go to the class this morning my students will pay more attention.”

The prize in Economics is the sixth and final of the annual awards that usually spotlight the top scholars and peacemakers of the World. But the economics award didn’t used to be among the original prizes created in 1895 by Swedish industrialist Alfred Nobel. Then just works in physics, medicine, chemistry, literature and peace were honored. The economics category was added by the Swedish central bank in memory of the industrialist. Thus economics awards has been given just since 1969.

This year the monetary award that accompanies the Nobel Prize was lowered by the foundation. The amount is 20% less. If last year it was 10 million Swedish kronor ($1.5 million), this year 8 million kronor ($1.2 million) accompanies the Prize which is because of the turbulence that hit the number of financial markets.

Before the economics selection, the Nobel Peace Prize was awarded to the European Union which really surprised European society. It even made some Italian and Greek demonstrators walk out on the streets to protest austerity measures as well as the decision of the Royal Swedish Academy of Sciences. Despite the financial crisis that threatens to break the EU apart, the 27-nation union got the award for its practice and efforts in promoting democracy and reconciliation following World War II, even as it grapples with a financial crisis that threatens to break the EU apart.