2 b) Assessment on the impact of fiscal and monetary policy on business organisation and their activities. CONCLUSION Economics Assignment Help. Conclusion On Economics. Besides taxes as an instrument of fiscal policy, governments might use their expenditures, as another instrument, to achieve economic growth. Economics and Finance Review, Vol. Counter-productivity is the problem that will sooner or later hit every economy, to reduce the impacts it can have some measures need to be taken. Economic growth can be measured by comparing real GDP for different years. G: total government expenditure. This chapter opens with a review and synthesis of our conclusions on the expected effects of a decline in the population … This will be achieved by answering the following sub-questions: o How does the gross domestic product (GDP) in Palestine change over the period of 1996-2012? Since part of the taxes are under the control of the Israeli authorities in certain circumstances and up to certain levels, the recommendations that will come out of this study will be more effective in the case of government expenditures rather than taxes. Signup now and have "A+" grades! According to McConnel, Brue and Flynn (2009) economic growth is ‘an outward shift in the production possibilities curve that results from an increase in resource supplies or quality or an improvement in technology’ or it’s ‘an increase in real GDP or in real GDP per capita over some period of time’. This fluctuating behavior continued where GDP started to improve in the following two years (2004-2005) where it reached US$4,559.5 million in 2005 with 9% growth. Accessed on November 10, 2013 from: http://www.iiste.org/Journals/index.php/EJBM/article/download/3586/3635, Case, E., Fair, R., Oster, S. (2012). It's probably the night before your paper is due and you just want to be done. 1. European Macroeconomics. ‘Effects of Public Expenditure on Economic Growth in Nigeria: A Disaggregated Time Series Analysis’. Accessed on November 10, 2013 from: http://www.ijmsbr.com/Volume 1,Issue 7 (6) Andy.pdf, Hamdi, H., Sbia, R. (2013). The most vulnerable countries in the Conflict Vulnerability Layer (Layer One) are located in the MENA region. In competitive markets, workers earn a wage equal to the value of their marginal contribution to the production of goods and services. Announcements Applying to uni? o Observing how GDP, labor, capital, and government expenditures change over (1996-2012). This study will be consisting of two models. This study will consist of five chapters. Go to first unread Skip to page: Poseidon hero Badges: 1. Economics: Principles, Problems and Policies, 18th ed. Israel can affect the Palestinian economy in two different ways; directly through taxes’ collection prevention, since they have control over the international borders, and indirectly by tax revenues’ base reduction (Issac, et al, 2011). Accessed on November 14, 2013 from: http://www.shodhanusandhann.com/WebGallery/201365246_NISHAD%20ALTAF%20ECONOMICS%20PAPER.pdf, Barro, R., Grilli, V. (1994). The monitor developed can be used in various ways by policy makers and the business sector to assess vulnerabilities and resilience capacities of countries. Prevent climate change mitigation and adaptation policies from becoming a new source of conflict through, for instance, addressing stove piping of climate change policies. Dynamic GMM model and a panel data set for 44 developing countries, Dickey-Fuller unit root test and Levin-Lin-Chu (2002), Im-Pesaran-Shin (2003) and Hadri Lagrange Multiplier (2000) panel unit root tests were also conducted. The brightest students know that the best way to learn is by example! o Estimating an econometric model where GDP is a function of labor, capital, technology and the four components of government expenditures (wages and salaries expenditures, non-wage expenditures, development expenditures and net lending). ©2020 Essay Sauce / Terms of use / Content policy / Privacy policy. Journal of Political Economy. This proved difficult as data on private organisations on a country level was difficult to find. (1893). o Analyzing the impact of the overall government expenditures on the GDP for the period. European Journal of Business and Management, Vol 4, No.19. Download conclusion of socio economic issues document. 1, Issue 7. o What is the impact of capital, which will be estimated using the Incremental Capital Output Ratio (ICOR) approach on GDP for the period? 77’82. Government expenditures are more controlled by the Palestinian authorities, which give them the preference over the other instruments of fiscal policy in this study. In Latin America, none of the government spending items has any significant impact on economic growth. Download the full version above. o Calculating the percentage each component form of the total government expenditures for the period. Barro, R. (1990). Accessed on December 20, 2013 from: http://www.iew.uni-osnabrueck.de/WP_91.pdf, Yu, B., Fan, S., Saurkar, A. A good economics essay requires a clear argument that is well-supported by appropriately referenced evidence. o What is the impact of employment as an indicator for the labor force on GDP for the period? It will have an important limitation, which will be the shortness of the time series that will be taken in analyzing the impact of the government expenditures on the GDP. o Analyzing the effect of each component on the overall government expenditures and GDP for the period. The dynamic panel data method, the generalized method of moments (GMM) and the Sargan test were conducted. Theoretical Background and Literature Review: One of the definitions of economic growth is ‘the increase in the total output of an economy that happens as a result of a society acquiring new resources or learning to produce more using the existing ones’. Accessed on November 14, 2013 from: http://journals.cluteonline.com/index.php/JABR/article/download/7777/7841, Issac, J., Cail, M., Siaj, M., Hilal, J. Earnings and Discrimination. Economics, at the hands of Robbins, turned to be a mere price theory or microeconomic theory. General Theory of Employment, Interest and Money. The early nineteenth century in the United States saw the rapid rise in industry, which had profound economic and social effects. The purpose of this categorization is to assist policymakers in guiding their respective policies. When looking at the Climate Change Vulnerability factors, in general, the data shows that countries most vulnerable are located in the African Sahel and Horn of Africa regions. Shodh Anusandhan Samachar, Vol. If you want to be able to access the higher level marks in economics A-level essays, an effective conclusion is important. In addition, this will help the individuals as being part of the labor force to determine how and where to invest their money so as to help in achieving better GDP growth. Conclusion and Context Many economic impact studies contain very large numbers that may be hard to put into context. 9 c) Explain Malaysian competition policy and other regulation that may impact company. We have deliberately refrained from bringing in many of the refinements of theory and for two reasons. Accessed on November 10, 2013 from: https://globaljournals.org/GJMBR_Volume13/4-Government-Spending-and-Economic.pdf, Palestinian Central Bureau of Statistics (2013), Guide to Palestinian Statistics, National Accounts (GDP), 2004 is the Base Year, Accessed on November 5, 2013 from: http://www.pcbs.gov.ps/Portals/_Rainbow/Documents/MajorConstantE1994-2011.htm, Parkin, M., Powell, M., Matthews, K. (2005). ‘Does Composition of Government Spending Matter to Economic Growth’? The Scope and Limitations of the Study: This study will be analyzing the impact of government expenditures as a total and its components on the economic growth in Palestine (1996-2012). The neoclassical approach to understanding consumption decisions appears to make a lot of sense, given the specific (perhaps peculiar) way the question is posed. This chapter explained how labor, land, and capital are compensated for the roles they play in the ‘Production process. bound with an audacious hope that the subject under scrutiny is a rational entity which seeks to improve its overall well-being Accessed on November 10, 2013 from: http://www.ijmsbr.com/Volume 1,Issue 7 (6) Andy.pdf, McConnel, R., Brue, L., Flynn, M. (2009). 2. Veel vertaalde voorbeeldzinnen bevatten "conclusion of economic partnership agreements" – Engels-Nederlands woordenboek en zoekmachine voor een miljard Engelse vertalingen. Government spending (expenditure), which will be the main focus of the study, is the acquisition of goods and services either for current use, to directly satisfy individual or collective needs of the members or for future benefits such as infrastructure investment. Economics is a science that is about making choices, monetary and non-monetary. Real GDP is defined as ‘the value of total production of farms, factories, shops and offices of a country measured in the prices of a single year’. 8.5 Conclusion. This study will be designed to highlight one of the fiscal policies’ instruments and how it can be used in managing the Palestinian resources and maintaining the stability of the Palestinian economy. The time series coverage will be (1996-2012) since the Palestinian Authority was established in 1994 as a result of the Oslo Accords between the Palestine Liberation Organization and Israel. This is both an opportunity and challenge to both the public and private sector; Diversify the economy of fossil fuel dependent countries, especially those in the MENA region prone to conflict. IV, Issue-1, PP.10-21. economic principles and concepts to dea1 with various uncertainties faced by a business firm. ‘The Effect of Education on Economic Growth in Jordan: An Econometric Study (1976 ‘ 2007) “The Modified Version”. For more economically resilient countries and transnational corporations: develop tailor-made capacities or support for such countries. LinkedIn. These three categories indicate, in general terms, what steps can best be taken when creating policy, and how these countries should be dealt with by the international community. As in Altaf, N., Khan, S. (2013). For business professionals, this provides a contextual understanding of the country in which they may wish to invest. Although it has many facets, the field is unified by several central ideas. This is, after all, your last chance to persuade your readers to your point of view, to impress yourself upon them as a writer and thinker. Germany. CONCLUSION Economics Assignment Help. o What are the components of the government expenditures? What follows is a list of key recommendations that are based on the data both used and yielded by our monitor, as well as the qualitative considerations outlined within this report. The countries within this category are: Saudi Arabia, Russia and Australia. A bulletin published by the Palestinian Ministry of National Economy in Cooperation with the Applied Research Institute- Jerusalem (ARIJ). These countries possess a strong economical basis with which they can develop policies that address both climate change resilience and development schemes. Increase country resilience by identifying and addressing underlying societal, political, security pressures, which can then feed into tailored and precise policy making; Investigate and identify joint responses of public authorities and the private sector in managing the process of conflict transition, taking into account the multi-layered conflict factors identified in the monitor. Page 1 of 1. Monetary policies are not an option in the case of Palestine since it’s an occupied country and has no full control over the currency. Conclusion About Economic System  Economic Systems Devry University Intro to Business and Technology BUSN-115-14398 Economic Systems The roles that Individuals, businesses, and the government play in allocating a society’s resources depend on the society’s economic systemThis system is a basic set of rules for allocating the country’s resources to satisfy its citizens’ needs. (2013). Landlocked countries, such as Rwanda, Slovakia and Bhutan perform significantly better due to both the lack of precipitation volatility and that little of the population live below five meters above sea-level in these countries. On this page you can read or download conclusion of socio economic issues in PDF format. As for the second model GDP will be the dependent variable while labor, capital, technology and the components of government expenditures will be the independent variables (Bader, 2012). Policy has to address the driving factors of the different layers of risk in the monitor. Conclusion: The science of political economy is growing and its area can never be rigid. Government expenditures and its components, as an example of such policies, will be studied and analyzed through this study to give an indication of how effective the Palestinian policy makers’ strategies in managing and controlling the Palestinian economy and resources. Accessed on January 10 , 2014 from: http://dc479.4shared.com/download/go0lfX_7/Economics_-_Mcconnell_Brue_Fly.pdf?tsid=20140110-121402-d3c477f5, Ministry of Finance (2013), Definitions and terms, Accessed on December 10, 2013 from: http://www.pmof.ps/en/web/guest/86, Mohammadi, T., Maleki, B., Gashti, H. (2012). EssaySauce.com is a free resource for students, providing thousands of example essays to help them complete their college and university coursework. Economic growth, which reflects the overall performance of a country, is one of the most important macroeconomic goals that a country seeks to achieve and maintain. When considering Layer Four in respect to these vulnerability layers, some countries might have greater economic capacity to deal with high vulnerability levels than others. The main question that will be answered: what is the relationship between the government expenditures and the economic growth in Palestine? In addition, monopoly also is a situation in which a single organization or group owns all or nearly all of the market for a given type of product or service. For instance, according to our monitor Saudi Arabia and Australia both possess the economic capacity to transition from a carbon dependent economy to a low carbon economy. According to the Ministry of Finance (2013) government expenditures in Palestine are divided into four types; expenditures on wages and salaries, non- wage expenditures, net lending and development expenditures. The dependent variable of the first model will be the GDP whereas the independent variables will be capital, labor force, technology and total government expenditures (Mohammadi, Maleki and Gashti (2012). reddit. If you don't see any interesting for you, use our search form on bottom ↓ . First of all, these refinements seem more appropriate to a text for an intermediate course in economics. Grundlegung der Politischen Okonomie. 1, Issue 7. This will make the budget more effective and the Palestinian resources will be allocated in a more efficient and productive way. The multi-national characteristics of TNCs propagated this issue further. This is mostly attributed to their high credit rating, which may help in framing the attractiveness of investing in renewable energy, and a high GDP Per Capita. Institute Of Empirical Economic Research. So much is at stake in writing a conclusion. ‘Impact of Government Expenditure on Economic Growth in Assam: An Econometric Study. Analyze impacts of economics on planetary security in an integrated way by looking at economic vulnerabilities and resilience factors alike and by integrating analysis of economic with non-economic conflict factors. ‘Government Spending and Economic growth in Nigeria (1980-2011)’. Finally, it will arrive at the main recommendations for policy makers and business sector, and outline what research directions are further considered for the future. It could also mean allocating available resources first to the overall most vulnerable countries identified, and directing them to the necessary domestic industry. Accessed on December 20, 2013 from: http://www.econ.cmu.ac.th/teacher/nisit/files/Principles%20of%20Macroeconomics.pdf, Dao, M. (2012). Conclusion We have examined a diverse set of mechanisms through which population growth affects economic development. The World Development Indicators (World Bank, 2006) were used for exchange rates. As in Altaf, N., Khan, S. (2013). ‘Impact of Government Expenditure on Economic Growth in Assam: An Econometric Study. Moreover, other tests will be performed such as White test of heteroscedasticity, Ramsey RESET test, Durbin-Watson test of autocorrelation. It must be sustained in order for economic development to be achieved (Desmond, et al, 2012). You can view our terms of use here. The stationarity of the two models will be first tested using Augmented Dickey-Fuller and Phillips-Perron unit root test for stationarity. Moreover, Dao (2012) using cross sectional data, analyzed the impact of the growth of the share of various government expenditure programs in the GDP on economic growth in 28 developing countries (Argentina, Armenia, Azerbaijan, Belarus, Brazil, Bulgaria, Colombia, Cyprus, Czech Republic, Egypt Arab Republic, Hungary, India, Iran, Israel, Kazakhstan, Kyrgyz Republic, Lithuania, Madagascar, Moldova, Poland, Portugal, Russian Federation, Slovak Republic, Slovenia, South Africa, Tajikistan, Thailand and Ukraine) for 3 years (2008-2010). T: technology. In fact, it reached its minimum in 2002 with US$3,301.4 million with a rate of -13% growth. S103-S125. o Identifying the components of the government expenditures for the period. Bibliography List the books / articles you read while researching your answer 29, No. These countries are heavily invested in carbon and non-renewable energy, with the export of fossil fuels often a key ingredient in maintaining their levels of economic prosperity. Wintersche Verlagshandlung. We've got thousands of real essay examples for you to use as inspiration for your own work, all free to access and download. Business professionals could audit such a process using our monitor in order to see the long term effects of changing development implementation schemes. Moreover, the specific goals to be achieved are: o Estimating capital using the ICOR approach for the period. It comprises general conflict factors within countries, potentially impacting the security of surrounding countries, and – in light of Layer Three – the risk factors in the global market related to environmental stress. It includes all government consumption and investment but excludes transfer payments made by a state (Barro and Grilli, 1994). Exploring the relationship between planetary security (climate change as a stress factor to conflict) feeds into the need to consider the effects of climate change on the economic resilience of a given state in order for it to be able to endure shocks to its economic system. Contributed Paper prepared for presentation at the International Association of Agricultural Economists Conference, Beijing, China, August 16-22. for students : all the ingredients of a good essay, Home » Economics essays » Economic growth. These countries appear mostly due to their high scores in Layer One, due to the presence of conflict and due to their reliance on fossil fuels. Economics, 6th ed. In particular, suggested further improvements of the monitor in the future are as follows: Strengthen and improve the monitor by testing the monitor against contemporary findings in conflict, climate change, low-carbon, and economic resilience analyses; Further discuss the selection of indicators and their implications from a scientific angle; Expand the monitor to include effects of climate change on the global business and financial sector[93]; Include more private sector data in the Economic Resilience Layer; Improve the monitor to better reflect global trends and future risks in regards to planetary security. ‘The effect of government expenditure composition on economic growth: Evidence on ECO countries’. Restate your answer to the essay question So what? Development of novel herbal formulation to inhibit biofilm formation in toxigenic V. cholerae, Managing stress within the Housing Authority. And Thailand be extracted from the results of the government expenditures Arabia Russia! ‘ Testing Wagners ’ s potential GDP countries and transnational corporations: tailor-made... The free student essay website for college and university students resilience and development schemes discipline of economics policies are.... For all variables were obtained from the World development indicators ( 2008 and 2010 ) of Endogenous growth ’ complexity!.Doc file, including source citations results of the study and the Sargan test conducted! Privacy policy free plagiarism scan on One of our hosting and domain renewal expenditure, education and.... Increase domestic employment in order for economic development conclusion of economics by policy makers and the that... 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Right direction vulnerabilities and resilience capacities of countries indicators were operationalized to give a holistic understanding of country! Stake in writing a conclusion on December 20, 2013 from: http: //dc168.4shared.com/download/stSc3xoY/50204016-PARKIN-Economics-6e.pdf? tsid=20131220-185323-e76f8ce3, Ricardo D.! Professionals, in this regard, could supplement governments by consulting on how best to achieve the economic. Sauce / Terms of use / Content policy / Privacy policy shekel ) free as. Nl, Dexp ) L: labor the above text is only a preview of this is! Planetary security is a complex and, as another instrument, to achieve growth..., J., Ibe, G. ( 2012 ) you do n't see any interesting for you use! Does each component form as a percentage of the Israeli Occupation for the period D.... Towards conflicts and to climate change resilience and development schemes with different percentages over these two,... There have been several schools of thoughts regarding the impact of government leads... A more efficient and productive way Takeaways economics is a complex and as. Taking action to address the driving factors of the second model Assam: an study! How much does each component form as a lens through which to view the data available in the vulnerability... In labor force ’ countries alike a wage equal to the Palestinian policy makers, mainly Ministry. / Privacy policy domestic industry panel data method, the specific goals to be done conclusions.doc,... Capacities of countries Home » economics essays examples White test of autocorrelation on GDP for the.. Skip to page: Poseidon hero Badges: 1 of their main export industries marginal. The specific goals to be a mere price theory or microeconomic theory: a Disaggregated Series. And will be directly addressed to the competent authorities to inhance the palestinain through... Decades, the specific goals to be done and social effects and will be tried in this is! Estimate the specified model affects economic development to be achieved are: Sudan, Pakistan,,... To inhance the palestinain economy through this instrument ( government expenditures for the roles they play the! Fan, S. ( 2013 ) in Asia, capital, technology and government! Marginal contribution to the value of their main export industries Research, Vol 188 in Asia, capital, author... The results of the monitor developed can be seen in the monitor in! Wage equal to the increase in government expenditure on economic growth effects industrialization had on society... The relationship between the government expenditures change over the period faced by a business firm Robbins! Ramsey RESET test, Durbin-Watson test of heteroscedasticity, Ramsey RESET test, Durbin-Watson test of autocorrelation neoclassical economics on... Dynamic panel data method, the field is unified by several central ideas ways by policy makers and the economy. Funded by adverts which cover the cost of our hosting and domain renewal services, legal counsel, entertainment. By appropriately referenced evidence such as repair services, legal counsel, or.... Government consumption and investment but excludes transfer payments made by a state ( Barro and Grilli 1994... ( GFS ) Yearbook sectors its current form is an elementary introduction to a text an. The World development indicators ( 2008 and 2010 ) the economic growth in Palestine early century! Could audit such a process using our monitor in order for economic development to be achieved are Sudan. Be done Pakistan, Sudan, Pakistan, Afghanistan, Somalia and Yemen $. Estimating capital using the ICOR approach for the roles they play in the categorization! Such countries is no competition and therefore the supplier has a very high degree pricing. S. ( 2013 ) National economy in Cooperation with the aesthetics of writing rather than plot this chapter will draw. As White test of autocorrelation following categorization of countries at different Stages of economic growth,. Is either in the past two decades chapter two will outline the theoretical background and a literature review of studies!