What is Economics Essay - 652 Words

Many people think that economics is about money. Well, to some extent this is true. Economics has a lot to do with money: with how much money people are paid; how much they spend: what it costs to buy various items; how much money firms earn; how much money there is in total in the economy. But despite the large number of areas in which our lives are concerned with money, economics is more than just the study of money. It is concerned with:  · The production of goods and services: how much the economy produces; what particular combination of goods and services; how much each firm produces; what techniques of production they use; how many people they employ.  · The consumption of goods and services: how much the population as a†¦show more content†¦There are three types of resources:  · Human resources: labour The labour force is limited both in number and in skills.  · Natural resources: land and raw materials The world’s land area is limited, as are its raw materials.  · Manufactures resources: capital All inputs into production that have themselves been produced: e.g. factories, machines and tools. One must bear in mind that our wants are virtually unlimited, while the resources available to satisfy these wants are limited. In other words when society demands more of a product than can actually be produced to fulfil those wants we have a problem of scarcity. An example of this would be the OPEC oil price shocks between 1973 and 1980. Yes, it is true that the price of oil rose and some individuals used substitutes but the economies of oil importing countries like Germany and Japan fell because OPEC now had more buying power since they had the control over a scarce resource. We can therefore think of oil as having become scarcer in economic terms when its price rose. Earlier I stated that economics is concerned with consumption and production. We can look at it in the terms of demand and supply. It is simply the quantity of a good buyers wish to purchase at each conceivable price. Three factors determine demand:  · Desire  · Willingness to pay  · Ability to pay Whilst supply is the quantity of good sellers wish to sell at each conceivable price. Supply isShow MoreRelatedWhat Is Economic Crisis?1474 Words   |  6 PagesThe repercussions of the economic crisis are not going to disappear in the short What is economic crisis? * An economic crisis is A situation in which the economy of a country or countries experiences a sudden downturn brought on by a financial crisis. A financial crisis is a situation when money demand quickly rises relative to money supply. Until a few decades ago, a financial crisis was equivalent to a banking crisis. Today it may also take the form of a currency crisis. Many economists haveRead MoreWhat Is Economic Freedom?1509 Words   |  7 PagesWhat is economic freedom? In fact, what freedom really means, at its core? In words of Wayne Dyer, â€Å"Freedom means you are unobstructed in living your life as you choose. Anything less is a form of slavery† and according to Franklin Delano Roosevelt â€Å"True individual freedom cannot exist without economic security and independence†¦Ã¢â‚¬ . 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Exploiting Loss Article Review A Study Of Death And...

Exploiting Loss Article Review There are many ethical issues when considering how to handle research on grief and bereaving on social media and blogs. Do the bloggers and users of social media have the same rights to privacy that people have when the source is paper/written? This article, Exploiting Loss?: Ethical Considerations, Boundaries, and Opportunities for the Study of Death and Grief online, focuses on six ethical issues when studying death and grief online: privacy and anonymity; researcher lurking; language choice and changes; topical sensitivity; emotional impact on researchers; and researchers responsibilities and obligation. Each of these topic are important to understand and set the guidelines for now and in the future as social media and blogs/ online articles are becoming the way to communicate not only in your own country, but around the world. The First Issue that is discussed if the ethical issue of privacy and anonymity. There are many interpretations of the limitations to privacy online. There is the general understanding that comments are considered to be public, but the actual studying of the sites discussing the issues of death and bereavement is more complicated. They need to be looked at the same way as we look at newspaper columns. The question is as to whether blogs and sites like this could be cited. In newspaper articles the person can hide their identity under a pseudonym, it’s harder to do this via the internet. They had submitted severalShow MoreRelatedStatement of Purpose23848 Words   |  96 Pages. 8 Education: Teaching English as a Second or Other Language (TESOL)—non-native English Speaker .................................................................................................................................... 8 Environmental Studies ............................................. ............................................................... 9 Geography .............................................................................................................................Read MoreDeveloping Management Skills404131 Words   |  1617 Pagesmymanagementlab is an online assessment and preparation solution for courses in Principles of Management, Human Resources, Strategy, and Organizational Behavior that helps you actively study and prepare material for class. Chapter-by-chapter activities, including built-in pretests and posttests, focus on what you need to learn and to review in order to succeed. Visit www.mymanagementlab.com to learn more. DEVELOPING MANAGEMENT SKILLS EIGHTH EDITION David A. Whetten BRIGHAM YOUNG UNIVERSITY Read MoreMonsanto: Better Living Through Genetic Engineering96204 Words   |  385 Pages441 441 CASE STUDIES A summary of the case analysis I N T R O D U C T I O N Preparing an effective case analysis: The full story Hearing with the aid of implanted technology: The case of Cochlearâ„ ¢ – an Australian C A S E O N E high-technology leader Delta Faucet: Global entrepreneurship in an emerging market C A S E T W O DaimlerChrysler: Corporate governance dynamics in a global company C A S E T H R E E Gunns and the greens: Governance issues in Tasmania C A S E F O U R Succeeding in theRead MoreProject Managment Case Studies214937 Words   |  860 PagesPROJECT MANAGEMENT CASE STUDIES, SECOND EDITION - PROJECT MANAGEMENT CASE STUDIES, SECOND EDITION HAROLD KERZNER, Ph.D. Division of Business Administration Baldwin-Wallace College Berea, Ohio John Wiley Sons, Inc. This book is printed on acid-free paper. @ Copyright O 2006 by John Wiley Sons, Inc. All rights reserved. Published by John Wiley Sons, Inc., Hoboken, New Jersey Published simultaneously in Canada No part of this publication may be reproduced, stored inRead MoreCrossing the Chasm76808 Words   |  308 Pages it has over a seven year period in the market sold more than 175,000. In high-tech marketing, we call this an â€Å"upside miss.† The appeal of the book, I believe, is that it puts a vocabulary to a market development problem that has given untold grief to any number of high-tech enterprises. Seeing the problem externalized in print has a sort of redemptive effect on people who have fallen prey to it in the past—it wasn’t all my fault! Moreover, like a good book on golf, its prescriptions give

Social Science Research Methods

Question: Discuss about theSocial Science Research Methods. Answer: Introduction: In the recent years, most of the Australian universities have been experiencing the enhancement of the industry due to the international students. The Singaporean students have shown adequate interest in acquiring the higher degree from the Australian Universities. In this context, the research methods on the Singaporean students and their interest in having knowledge from the Australian university have been discussed in an appropriate manner. In the discussion section, the methodology of the research has been discussed in context to the research topic. Moreover, the research process and the ethical issues of the topic have been highlighted in this particular essay. Discussion: By analyzing the provided article, it can be assessed that the interest of the Singaporean students for acquiring a higher degree from the Australian Universities has been increasing in an efficient manner. It has been seen that over the past decade, most of the Singaporean students, who have the ability to spend extra financial resources have chosen Australia to acquire a high degree (Taylor, Bogdan DeVault, 2015). In this context, the research would be executed through qualitative method. The qualitative research method would be employed in the particular research in order to evaluate the challenges of the research topic. The investigator will select the research topic of Singaporean students studying abroad. For accumulating the information, the researcher would select the potential respondents from the different sources. In this scenario, the researcher would select the professors of the Australian Universities for accumulating the topic related information. The entire research would be based on the primary data. The primary data would allow the investigator to highlight the current market statistics of the Australian education sectors. At the initial stage, I would go to the selected Australian universities to approach the professors in the interview process. However, it would be a difficult task for the professors to manage time for the interview. The selection of the respondents would be dependent on the experiences of the key professionals. Without engaging the experienced professionals, I would not be able to accumulate in-depth knowledge on the particular research topic. The central research question would be the based on the need of the Australian educational degree to the Singap orean students. With the involvement of the key professionals of the Australian universities, I would focus on highlighting the Australian higher education system. Consequently, the accumulated information would facilitate me in understanding why the Singaporean students are increasing in numbers in the Australian universities. In the methodology section, I would employ different tools and techniques in this assignment. The qualitative data analysis technique would be utilized in the research for evaluating the rationale of the research topic in an efficient manner (Mackey Gass, 2015). On the other hand, the qualitative research method is more focused on the analyzing the research topic rather identifying the previous research activities. For conducting the qualitative research, five professors of the Australian universities will be approached. There are different forms of the interview including focus group interview, personal interview, etc. The qualitative data accumulation technique would be based on the focus group interview. In the focus group interview, the participants would be able to understand others point of views on the research topic. I would arrange the particular interview process in a systematic manner where each participant would get the opportunity to highlight the discussion for minimum 25-30 minutes timeframe. Within this allocated timeframe, the participants would be able to identify the research topic of Singaporean studying abroad. On the other hand, the participants would face 5-10 questions for analyzing the particular research topic. Different types of questions would be asked of the participants. For instance, the respondents would be requested to highlight the importance of the higher degree of the Australian universities and how these degrees indeed facilitate the Singaporean students in developing their career in the diverse professional fields including medical and law. Moreover, the respondents would also be asked for evaluating the challenges of the Singaporean students to acquire a higher educational degree from the renowned universities of Australia including the University of Sydney, University of Queensland, and University of the South Australia, etc. Besides this, I would also ask the respondents to discuss the involvement of the local governmen t for enhancing the particular education system in an effectual manner. Although the Singapore government has started recognizing the Juris Doctor (JD) degrees from the 10 Australian universities, they must have been focused on providing more facilities to the students having the interest to acquire a higher degree from Australia. Hence, these legislative related questions would be asked to the respondents in order to analyze the research topic in an appropriate manner. The research strategy will include a particular process for engaging the respondents in the focused group interview. At the initial stage, the research topic will be selected. In the next stage, the respondents will be selected based on the probability sampling technique. In this context, the probability sampling technique will be selected in order to obtain the reliable data from the respondents (Panneerselvam, 2014). The particular research topic needs to analyze in a detailed manner. Hence, the probability sampling has been employed for the enhancement of the quality of the data. Although it will be difficult to engage the professors of the universities in the interview session, I would try to involve at least 5 respondents for the particular research activity. In this context, the respondents would be asked to be involved in the focused group interview where each of the participants would obtain 25-30 minutes timeframe for highlighting their point of views about the research topi c. However, if any respondents would not be able to get involved in the interview process due to the lack of time, they would be given facility to take their points on the topic utilizing the online platform such as Skype. After accumulating the research data from the respondents, I would analyze them in an efficient manner. Hence, it can be assessed that the engagement of the qualitative data analysis technique would be the best solution for analyzing the research topic. In the research execution process, different ethics will be followed. During the interview, the respondents should not be pressurized for providing knowledge on the particular topic (Pickard, 2012). Besides this, the data protection needs to be maintained while executing the research. The accumulated data should not be utilized for other purposes. Moreover, the respondents need to be aware of all research details (Silverman, 2016). There should not be any hidden condition for the respondents, as it might create difficulties to obtain fair outcome from the research. Conclusion: It can be concluded that the particular research will be conducted through primary research. For analyzing the data, the qualitative method will be utilized, as the particular process will be able to highlight the key issues of the research topic. In this assignment, the selection process of the research information has been highlighted in a detailed manner. Moreover, the involvement of the discussion on the methodology has identified a process to accumulate data from different sources. On the other hand, the particular assignment also has highlighted the ethical issues for executing the particular research topic. Hence, it can be assessed that the research analysis on the topic of Singaporean studying abroad has been conducted in a systematic manner. References: Mackey, A., Gass, S. M. (2015).Second language research: Methodology and design. Routledge. Panneerselvam, R. (2014).Research methodology. PHI Learning Pvt. Ltd.. Pickard, A. (2012).Research methods in information. Facet publishing. Silverman, D. (Ed.). (2016).Qualitative research. Sage. Taylor, S. J., Bogdan, R., DeVault, M. (2015).Introduction to qualitative research methods: A guidebook and resource. John Wiley Sons.