As a field of study, economics refers to the most efficient ways to allocate scarce goods and services to acquire wealth.
Essays on economics often focus on the significant schools of thought in the field. Students are encouraged to ask the right questions and compare the various approaches. Another option is to analyze the underlying causes of recessions in the history of economics.. Another good idea would be to write a paper about culture’s effect on economics.
Keep reading to see excellent economics essay examples on various related topics. These paper examples will help you structure your ideas.
Introduction Globalization is a dominant trend that drives the development of the world’s economy. This phenomenon has resulted in the fact that all nations cooperate to contribute to overall growth. This state of affairs leads to the fact that some countries experience essential improvements that allow them to become more...
Transportation and economic systems are closely intertwined. Since transmission networks connect businesses, resources, and people around the world, their development has a significant impact on the economy. However, the connection between transportation investment and economic development is far deeper than it would seem. There is a clear need for further...
Abstract The primary concerns of the future are technological advances, which may lead to widespread adoption of Artificial Intelligence, and climate change, which necessitates sustainable development. Both of these are likely to significantly change the job market or the entire concept of work. It is certain that technology will continue...
According to Qatar National Vision 2030, the country is oriented toward active development in such spheres as economic progress, social progress, the development of human capital, and environmental development. This strategy, which was initially promoted by His Highness the Father Emir Sheikh Hamad Bin Khalifa Al-Thani and currently supported by...
Executive Summary Sustainable development and the circular economy are among the most relevant topics in current science. The purpose of this paper is to analyze the circular economy as a phenomenon, as well as its social consequences. Literature reviews, statistical data, academic articles, and SWOT models were used for this...
Introduction Stability becomes all the more crucial in the face of recurring crises in the world economy that may lead to severe recesses. One of the ways to make a given country’s economy more stable is diversification, as highly-specialized countries exporting only a small range of products are generally more...
Introduction The problem of unemployment has been a concurrent social issue for many years in many countries of the world. High unemployment rates derive from the macro-and micro-economic situation, political context, and demographic trends, which all constitute an influential set of factors. For Arab countries of the Middle East, the...
Introduction Today, marijuana for medical purposes or recreational use is already legalized in several states in the U.S. Medical cannabis is legalized in Montana, North Dakota, Minnesota, Michigan, Illinois, Ohio, Pennsylvania, Maryland, Delaware, New Jersey, New York, Connecticut, Rhode Island, New Hampshire, Vermont, Arizona, New Mexico, Hawaii, Arkansas, Louisiana, and...
Introduction Geographical Location Haiti lies on Caribbean. It occupies one-third of Hispaniola Island. The Island is located between the Caribbean Sea, the North Atlantic Ocean and West of the Dominican Republic. The country was the first black republic to declare its independence on 1st of January, 1804. France colonized Haiti....
Introduction The MENA region consists of parts of North Africa and the Middle East. The region has great resources in the form of petroleum reserves and natural gas. Its economic stability is, therefore, mainly based on these resources. The region has about 45% of the world’s natural gas and up...
It is fair to say, that for many years oil was one of the most important factors, affecting the government’s policy and economical state of a country. In defining their home and foreign policy, the leading states, as well as the developing economies, take into account the influence of energy...
Introduction Small and Medium-Scale enterprises are very important for the economic growth and political stability of developing countries. However, their work is connected to a variety of problems including the economic, technological, political, social, legal, environmental, and ethical ones. In the following sector of the paper, possible solutions of these...
Introduction Productivity growth is an important parameter because it predicts the economic status of a country. The analysis of long-term and short-term trends shows that the economic productivity of the United States has been slowing down since 2010 after the recovery and expansionary phases following the global economic recession. Moreover,...
Introduction The need for entrepreneurship in the 21st century has undergone unprecedented growth. Different scholars have identified several reasons to explain the high rate of growth. Firstly, the increase in global competition has stimulated investors in different economic sectors to focus on developing the competitiveness of their businesses. In a...
Introduction Today, Canada is one of the most popular countries all over the world due to some of its places of interest such as Montreal City. Montreal is the biggest city in Quebec and the second-largest city within Canada. Originally referred to as ‘Ville-Marie’, the city’s current name is retrieved...
Introduction In the book Applied Economics: Thinking Beyond Stage One, the author, Thomas Sowell, looks at several problems that have been present in history for centuries. The scholar considers two main approaches to their investigation – politics and economics, showing how economic analysis provides more insight into the long-term outcomes...
Introduction The book Common Sense Economics: What Everyone Should Know About Wealth and Prosperity by Gwartney et al. discusses some basic principles that constitute and support modern economics. In the first part, key elements are considered, while the next two parts talk about economic progress and the role that government...
Background and Context In the last two decades, the growth of the economies in the global south has mainly been driven by the commodities boom (McKinsey Global Institute, 2017). This was attributed to the explosion of industrialization in Asia, especially in China. The rapid growth of industries created a huge...
Introduction It has been proved beyond any doubt that education is an important tool in propelling the states of the world to higher levels of development. According to proponents of human capital theory like Schultz (1961) and Denison (1962), there is overwhelming evidence to the effect that education is an...
This working paper addresses the continued growth of Botswana’s economy and the key factors contributing to the growth. The economic performance of Botswana has been remarkably contrasted with that of other countries in the region making it worth investigating. According to Iimi, Botswana is richly endowed naturally thereby making it...
Introduction China has experienced unparalleled economic growth in the last five decades, thus improving living standards in the country. Infrastructural development and international trade have also grown exceptionally during this period. However, this economic development has come with increased domestic and industrial water usage leading to severe shortages. The quality...
Introduction The global economy is in the process of emerging from a recession that hampered economic growth in most regions for the past two years or so. The recession was due to a combination of factors: runaway inflation, governments were running huge budget deficits and national debts which kept increasing,...
The development is “a historically produced discourse”, produced massive impoverishment and underdevelopment, exploitation and oppression. Although many countries are concerned with improvement of economical situation in countries of Africa, Asia and Latin America, this policy only deteriorated situation with the passing of time. In fact, developed countries improve their economic...
Introduction This essay is on the biases identified by the Boskin Commission in the estimation of fiscal policy and the living standards on people in the US; it was basically an evaluation of the national price statistic. It is formatted in a way that explains on the methods they used...
Introduction Economics is a branch of business studies that explores ways of converting resources into finished products and services for human consumption. Therefore, it examines the processes involved in production, supply, and consumption of products and services. Economists define growth as an increase in quality or quantity of goods or...
Introduction Economic growth is the progressive increment of goods and services earned by people for the work done in a given period. The realization of development in a nation depends on the economic output from all sectors of business, which is measured in terms of gross domestic product (GDP) (Government...
Definition Economic growth relates to the growth and quality of the economy as a whole and the term is used to indicate the increase of per capita gross domestic product (GDP) or another measure of aggregate income or even a change in the gross domestic product over a country over...
Introduction “In many years of central economic planning, with an outdated manufacturing industry, Romania was producing everything locally” (Watts, p. 34). The country was under the soviet bloc and in final years under Soviet bloc, Romania economy has been on a roller coaster ride, but, in 2000 the economy started...
Introduction Vietnam is located within 8° to 24° latitude, and between longitudes 102° and 110°.It is about 127,243 squire miles, that is basically the size of New México State in the US. It has a coastline of about 2,135 miles and is bordered by three countries that are china to...
Introduction The Asian financial crisis started in July 1997 in Thailand. During this time the financial institutions continuously incurred huge loss and as a result, some institutions were faced out of the market. The crises were mainly attributed to the banking panics which consequently led to the economic recession in...
Introduction Many countries across the globe have felt the reverberations of an economic crisis that was initially felt in the United States. This perhaps illustrates the fact that economic globalization is fast catching with us; as several economies are merged; and the reality that even in a given economy; no...
Abstract Using the current population report on consumer income issued in September 2009, we investigate the current income distribution situation in the United States of America (1967-2007 through 2008). We find that there was a reported decline in household median income although the income inequality remained static in 2007 and...
Kosovo-Serbia Negotiations There were numerous erstwhile grievances posted by the Albanian preponderance in the 1980s. For instance, one single most intriguing concern of this population was the quest to be granted the status of a republic. In addition, they petitioned for better living conditions which were notably pathetic during that...
Introduction A monopoly is a “type of market that is mainly characterized by a large number of firms and products that are not considered to be perfect substitutes for one another but highly differentiated; this type of market is also characterized by sellers and suppliers who can set prices of...
Having abundant natural resources can either bring blessings or curses. It can be viewed as a blessing because, the discovery of these resources or an augmented worldwide market value of the same, increases a country’s income generation, and thus the expenditure possibilities of that economy are also increased. Conversely, it...
Introduction Goal setting is a generally accepted system that is used by managers to motivate their staff within an organization. The practice is mostly done through synchronization or aligning people’s objectives with those of the organization. As emphasized in the management by objectives, goal setting assists the managers to effectively...
Introduction South Africa is one of the world and Africa’s leading gold producers. Due to the changes in ownership structures, gold mining has been earmarked as the prospective venture for empowering native Africans. Harmony gold’s mining company has been at the forefront in championing empowerment initiatives. It is owned by...
Thesis Labor unions have been engaged in the struggles for their employees on the various rights and issues which they feel should be handled amicably by the employers both locally and nationally. It’s through this that the employees have been able to communicate well throughout the country for an urgent...
Introduction On January 1848, James Wilson Marshall discovered gold while he was constructing a saw mill at Sacramento, California along the American river. This did not catch the attention of San Francisco reporters as many did not believe him until May 1848 when Sam Brannan who was a store keeper...
Introduction After World War II, most countries of the world were left to grapple with the trail of destruction the war left behind. This destruction was replicated in different sectors of the economy, such as the agricultural, industrial, infrastructure, telecommunications, health, education, and trade sectors among others, resulting in economic...
Introduction With states and cultures dating back about six millennium years ago, China forms one among the oldest civilizations existing in today’s world. The civilization and ethnicity of China is the base of one of the world’s ancient and most composite civilizations. The country proudly possesses a history abounding in...
Introduction Power is an integral element in the development of a given country. Although power can be viewed from various perspectives, each perspective has a role in development. For stance, the power vested in a state can be instrumental in the development and formation of factors relevant for the facilitation...
Situation Guam’s population is expected to increase dramatically due to the military build-up that we anticipate in full force by 2011. The other kinds of changes that can be expected include more major equipment for the military and their operations, an increase in their training activities, more construction, changes or...
Ibn Khaldun is one of great Muslim scholars that lived in 14th century. Ibn Khaldun was born in Tunis, Tunisia in Northern Africa and lived from 1332-1406. At an early age, Khaldun received tradition education and he showed signs of a very bright student who was eager to learn. Khaldun...
Introduction Demand supply linkages in industries traditionally has been analyzed using chain models where the implicit assumption was that raw materials accumulated on the input side were amalgamated to form the end-product. Production function in economics describes this very relationship between inputs such as labour, capital, and raw material to...
Guiding Questions for the Overall Evaluation Process Which skills do you wish to gain after the completion of this program? How often do you apply critical thinking when making decisions? What are your current oratory skills? Are you a good speaker? Do you like making speeches in public? Which type...
Introduction Industrial relations management deals with how a company runs its industrial enterprises and employees. It mostly revolves around interactions between the company, employees, the government, and the related trade unions. The government plays a very important role in industrial relations. First of all, as an employer and secondly as...
Introduction Water is one of the most important natural resources. Lives for plants and animals cannot go on when water is not available and this is the reason why some authors have written books and articles with the titles, “Water is Life”. Almost all lives on earth depend on water...
Introduction The European Union has emerged as a global actor as a result of European integration. EU policy systems are developed from various national policies for purposes of obtaining leverage and consensus on such issues as foreign affairs, economy, security, defense and immigration. The European Union continues to play an...
Abstract The purpose of this study is to bring to light the effects of the recession the world is facing at this juncture. The study will do a detailed analysis of how the crisis started, how it got spread to all the economies, and what was is role and responsibility...
Introduction Ageing is continually becoming a dominant factor for consideration in many countries around the world. Analysts point out that this problem is overtaking gender as a factor the outstanding factor in workforce diversity in many countries. Singapore is not an exception. With a low fertility rate coupled up with...
Introduction The problem which the paper discusses is the financial crisis which started in Aug.2008. The problem of financial crisis is a somber phase in the global economy because of which the World is going down at a fast pace. The global financial crisis and the consequent economic recession gave...
Introduction In recent years, the belief that a firm’s internal elements are more critical to its growth and sustainability than external factors has gained momentum. Many researchers have resorted to concentrating on this concept, often referred to as a resource-based view of a firm’s business strategy in management, marketing, internalization,...
Introduction Before entering into interesting and though provoking discussions on the matter on how effective liberal theory of division of labour (dol) and how its many ramifications and interpretations could impact current and future research on this interesting subject, it is first of all, also necessary to understand, what is...
The purpose of this study is to bring to light the mechanism of an economy and banking system. The study focuses on the subprime crisis that has hit the US in the last two years. The study throws some light on the adverse effects of the crisis on the US...
Abstract The success or failure of any company depends on the decisions it managers make under any circumstance. In the market place, the interaction of forces of demand and supply remain the default means of fixing prices of commodities. However, to account for excesses and surplus that often causes losses...
Executive Summary The increased property development in Dubai has an unprecedented increase in debts for the country that has experienced huge financial benefits due to foreign investments in the past. Following the fear that gripped many investors in the West, Dubai was seen as a safe haven for the investments...
Energy is one of the economy’s stalwarts. For a nation to grow economically it needs cheap and readily available energy to power its industries. Governments must ensure on-time and cheap sources of energy. Recently as reported by the department of energy and climate change, the UK is buying more of...
Abstract Over decades and decades, the Pacific Northwest was controlled by different regions and countries which pull down its economy. Nevertheless, a short time after the United Kingdom war ended, the region was able to perk up its economy slowly but surely, and the mid-1800s and the end of the...
Introduction The British economy has been among the fast-growing advanced modern economies in the whole world. It is ranked among the first five largest economies in the world. Its rate of growth is mostly determined by various factors which include its population growth, productivity as well as the rate of...
Introduction The economic downturn that began in 2007 resulted in major challenges for many Governments around the world. As a result, many rescue packages were instituted to try to alleviate the worst effects of the crisis (Brasc, par. 5). The US government developed an economic stimulus package that was aimed...
Capitalism can be “defined as an economic system that is based on private ownership of the means of production and distribution” (Capitalism’s Economic and Political Crisis , pars. 1-4). “The prices for goods and services are determined by the free market, and businesses are operated for the economic gain of...
Introduction There are differing opinions of Canada’s productivity challenges. This has involved high-ranking politicians who argue that Canada’s production is satisfactory. These politicians are possibly exonerating themselves from any blame on the poor state of Canada’s economic performance. It is not possible for politicians, in any part of the world,...
Abstract This essay examines how two different theories analyze the impacts of the industrial revolution on employment relations. It looks into how theorists argued on the relationship between the industrial revolution and labor relations, and the role played by the Industrial revolution in shaping employment and labor force across the...
Introduction Gross domestic product (GDP) also referred to as gross domestic income (GDI) is a way of measuring the national output and national income of an economy of a country. Gross domestic product has various definitions but they are all having similar meanings and are seen to be identical. One...
Introduction Saudi Arabia is located in the Middle East and is the most expanse Arab nation in the region. It has several neighbors including Oman, Iraq, Kuwait and Yemen among others. The official name of this country is the Kingdom of Saudi Arabia. Its population size is about twenty eight...
Introduction Regional economic blocs are common and exist in all parts of the globe. Such blocs provide the member countries with great economic, social as well as political advantages that cannot be achieved without them. The Gulf Cooperation Council is one such regional economic bloc. The GCC was formed by...
Introduction A crisis refers to a low probability of great impact, often viewed by stakeholders in an organization as a danger to the viability of a company. There can be various forms of crises, such as technological disaster, economic crises, natural disaster (meteor showers and earthquakes) and firm-level crises. Thus,...
Introduction It is not without doubt that the current global economic crunch has had a toll on most countries in Europe. Most of the countries have had their economic growth stalled, having been termed as the worst of the economic downturn in recent times, according to most economic analysts. Most...
Introduction The current global financial crisis is thought to be the worst financial crisis after the great depression. This financial crisis started in 2006 and has affected many areas of the economy. Every country in the world, from developed countries to developing countries felt the effect of the crisis in...
Farm subsidies may be described as statutory financial aid provided to the farmers to help them in their agricultural activities and the process supplements their income. Subsidies also help the farmers to manage the supply of commodities produced as well as influencing the cost of such supplies in the economy....
Abstract This paper examines the different financial paths followed by Argentina and Brazil since 2000. The writer starts by tracing the economic history of the two states from the colonial days to the present day. The evaluation of the historical economic milestones is meant to create a clear insight into...
Introduction The purpose of this report is to assess the effect of tourism on the economy in the concerned Arab countries, such as United Arab Emirates, Jordan, and Egypt. Unites Arab Emirates Overview of UAE Tourism Sector Library of Congress (13) stated that tourism is the fastest-growing sector in UAE,...
Introduction Background study The Irish government has been facing a major economic test following the economic meltdown that had rocked the country since the beginning of 2008. According to the Economic and Business Analysis, Ireland become the first country in the Euro Zone to be plunged into the recession since...
Introduction The industrial revolution provided opportunities that created jobs and increased production greatly boosting our economy. During this time, most workers in the United States were blue-collar workers doing physical work in factories. This has however changed with time as our economy has increasingly moved towards a knowledge-based economy. Most...
Executive summary United Arab Emirates nationals have overtime preferred to work in government related job opportunities rather than working in privately run enterprises. This tendency of the Emirate population of ignoring jobs under the private sector has been triggered by the various factors facing the job market within the Asian...
Introduction Social ecology can be understood by considering the troubles emanating from social struggles. Social ecology covers the ethnic, cultural, economic, as well as gender aspects of human beings. How human beings treat each other is important in helping one understand how to address environmental emergencies. The market structure today...
Introduction The Post-Keynesian economics appreciates the importance of the effective demand principle in the short and long run economic adjustments towards full employment. Led by Paul Davidson and Hyman Minsky, the Post-Keynesian economics has positive contributions towards overall economics growth in the world. Their basis goes beyond the theory of...
Introduction War in the Middle East We begin by focusing on the war in Iraq which resulted in diverting resources to finance one of the most unprecedented wars of our time. This directly affected capital expenditure and recurrent expenditure. The monetary resources could have been used for useful development or...
Introduction Brazil has an annual gross domestic product growing at the rate of 5% and this makes it one the fastest developing country in the world in terms of the economy (Waddell, 2004). The gross domestic product of Brazil was projected to the tune of 2.9 trillion using the Brazilian...
The following discourse is an analysis of Rudiger Ahrend’s article concerning the economic status of 21st century Russia. Unless otherwise stated all the ideas are taken from Ahrend’s work. In the said article, Ahrend argued that Russian economic development is in peril unless it will adopt drastic measures to remedy...
Introduction There are some terms commonly used that may not be confusing but are not very clear. Unless these are understood it will be difficult to parley into the impact of the economic downturn on the sales of inferior goods. What are meant by recession and depression? A familiar joke...
Overview Various countries have enacted smoke free laws to protect people from the impacts of second hand smoke and United States of America and the Great Britain have not been left behind. These laws cite scientific evidence to assert that smoking of cigarettes is harmful to both the smokers and...
Introduction A period of Global economical slowdown is economically termed as “Global Recession”. Global Recession is defined by the International Monetary Fund, and they consider a lot of factors before terming a period global recession. One of the most important aspects of global recession that is when the total global...
The trauma of the global financial crisis has clearly not alleviated from the Asian region, particularly if we talk about the East Asian economical condition, this region is prepared to collaborate with the West to reap the benefits of integrated financial systems. The Hong Kong Monetary Authority, being at the...
Introduction According to (Tanzi, 1999) an Underground economy is the market where trade regulations are not followed, and taxes that are supposed to be paid are avoided. It covers various activities which are carried out in large countries with a high rate of corruption and legal monopolies but the rate...
Overview The 2007-2009 global financial crisis was initially referred to as the credit crisis and it was first felt in July 2007 in the United States when secured mortgage investors lost trust and confidence in the financial institutions. This resulted in a liquidity crisis which then led the central banks...
Executive summary As an emerging market in the Latin American region, the nations’ mining industry in general, and copper production in particular is of great significance to this country. Towards this end, Chile has managed to maintain the position of a leading global producer of copper. The Chilean government through...
Opportunity Cost Opportunity cost is defined as the cost of the forgone alternative. We, as consumers, make several choices every day and sacrifice something to gain the other. We may choose one alternative at the cost of the next best alternative which is then referred to as opportunity cost in...
Introduction Economic profits can be defined as total revenues – Total opportunity cost or as total revenues less explicit and implicit costs. Then, why will a firm continue business when it is making zero economic profits? The answer to this question will be explored using many avenues. To begin with...
Introduction The European Union is a collection of 27 European countries who have come together to form a common economic as well as political union. The Second World War left a great destruction of the infrastructures as well as the economies of the European countries. These countries decided to come...
Identification of physical environment Risk factors The identification of physical and environmental risk factors includes the identification of sound and noise, vibration, climate, lighting, air quality, and their influence on work performance. All these physical and environmental characters can cause problems to the worker with diseases leading to absenteeism and...
Introduction Background From the fourth quarter of 2007, many countries around the world started to experience an economic downturn that grew by the day to earn the unpleasant connotation of being the worst recession the world has ever experienced since the Great Depression of the 1930s. Starting from the well-established...