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# University Degree: Applied Economics

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• Marked by Teachers essays 2
1. ## Introductory econometrics assignment. The reasons for creating these two relative price variables is to demonstrate the impact of relative price changes of no.2 and no.3 canned tuna to the unit sales of brand no.1 canned tuna. As a result of that no.2 an

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Assume: Null hypothesis: the slope of the relationship of RPRICE2 and log(SAL1) is zero Alternative hypothesis: the slope of the relationship of RPRICE2 and log (SAL1) is not zero By simply looking at the p-value of RPRICE2 is equalled to 0.0007, which is less than 0.01 or 1% significant level. Therefore we can reject the Null hypothesis, and conclude that the relationship of RPRICE2 and log (SAL1) is statistically significant or not zero. This result also indicates that the relationship between RPRICE2 and log (SAL1)

• Word count: 2157
2. ## Environmental Cost & Benefit Analysis of Haulbowline Island Waste Site

This case presents a continuous crude violation of the third generation of human rights, specifically the right to a healthy environment, where the local population has been subjected to potentially carcinogenic substances, among them Chromium 6 (Friends of the Irish Environment 2009a; Morgan 2008; O'Riordan 2010). So far, no specific policies for addressing the health and safety of the local population have been issued. At the moment, there is a debate about the need for a health study which will show whether there is a relation between toxicity of the waste and the increased cancer rate among the local population.

• Word count: 2070
3. ## Oil and Macroeconomy

And West Germany on money, GNP, unemployment rate, price level, and import price index. Since the model being estimated by Sim is an autoregression, the distributed theory on which the tests are based is asymptotic. It follows chi-squared distribution for the likelihood ratio test statistics. Out of the six data series used in the model for each country, each series except unemployment was logged, and the regressions all included time trends. Sims uses the impulse response functions to describe the movements of an economy overtime given a shock to the system. He says that analysis of the system's response to typical random shocks appears to be the best descriptive device.

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4. ## The production, consumption and exporting of tea - analysis of the global tea market.

Exporting of Tea Table-3 Exports comparison during January-September period in 2009-Unit: MT Source: Tea Market Update Volume 5 no 3 World black tea exports are projected by the FAO to reach 1.39 billion kilograms in another ten years. It has also been projected that Sri Lanka remains as the largest exporter with an export volume of 395 million kilograms followed by Kenya (325MKg), India (265MKg) and Indonesia (95MKg). Tea exports data released by major exporting countries in million kilograms and their status as compared to the corresponding month in the previous year are as follows. Sri Lanka (up to June)

• Word count: 2169
5. ## Should higher education be free? The demand for higher education has been increasing rapidly however the supply of higher education is increasing at a lower rate. With supply unable to match the demand it has resulted in higher education value and worth

However when looking at the marginal costs we have the university fees, accommodation and extra three years of studying. The main marginal costs that affect the prospective students is the tuition fee and how to pay for it. The demand for higher education has been increasing rapidly however the supply of higher education is increasing at a lower rate. With supply unable to match the demand it has resulted in higher education value and worth increasing. In a perfect situation the education market would be in equilibrium were supply meet demands.

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6. ## What (economic) problems would Iceland experience from the early transition to a fossil-free economy?

I will try to identify the bearers of the cost implied by the transition. I will do this by analysis of changes required at the infrastructural level and actual vehicular transition. Transition strategy Application of new technologies shall lead Iceland to remove dependency on foreign oil and cut down the CO2 emissions of its only fossil energy dependent industry - transportation, represented by: 1. Bus system Iceland has no railways and buses are the only means of public transportation 2.

• Word count: 2650
7. ## Explain the impact of foreign multinational enterprises on the British economy?

New technologies, management and stock control have been the main factors which have been shaped by MNCs. Multinational corporations in Britain provided much employment to the British population. By 1932 manufacturing subsidiaries of US MNCs provided employment for around 65000 people and by the early 1960s this number rose to around 450000 (Jones, 1996). Even the retail MNCs such as Woolworths became the largest employer in the retail sector employing over 60000 people by 1961 (Godley, 2003).The British government attempted to control where MNCs could set up manufacturing bases in order to distribute employment equally. This was especially true in the case of investment outside of the South East and London which most MNCs favoured (Chick, 1990).

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8. ## De&#351;i recent s-au nregistrat progrese incontestabile, Romnia r&#259;mne nc&#259; &#355;ara cu cel mai nalt nivel al infla&#355;iei dintre &#355;&#259;rile n tranzi&#355;ie.

�n opinia FMI2, alimentarea spiralei inflationiste din anii '90 s-a produs prin efectul factorilor de tip cost-push si a celor de tip demand-pull. Alti factori au fost politicile de stabilizare prea relaxate sau �ntrerupte, de tip stop-and-go si indisciplina financiara generalizata. Aceasta a �mbracat diferite forme, inclusiv deficite fiscale si cvasi-fiscale, acumulare de arierate si cresteri salariale nejustificate de nivelul productivitatii muncii.3 De altfel, studiile econometrice ale FMI au evidentiat rolul costurilor pe unitatea de munca (unit labour cost) �n cresterea inflatiei.

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9. ## Statistics report

Freq. 20-29 10 10% 0.10 30-39 30 30% 0.30 40-49 33 33% 0.33 50-59 16 16% 0.16 60-69 7 7% 0.07 70-79 4 4% 0.04 Total 100 100% 1.00 FREQUENCY DISTRIBUTION Items sold Range of Items sold Count Freq.(%) Rel. Freq. 1 to 3 66 66% 0.66 4 to 6 26 26% 0.26 7 to 9 5 5% 0.05 10 to 12 1 1% 0.01 13 to 15 1 1% 0.01 16 to 18 1 1% 0.01 Total 100 100% 1.00 FREQUENCY DISTRIBUTION Method of Payment Method Count Freq.(%)

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10. ## Statistics report

Alternative Hypothesis : �1 - �2 0 (the driving distances of the current b***s and the new b***s are not equal) The decision rule is: Reject if or Where: Hypothesized mean difference Sample standard deviation of difference n : The sample size (number of pairs) STT Driving Distance Difference, (1) - (2) Current b***s (1) New b***s (2) 1 264 277 -13 2 261 269 -8 3 267 263 4 4 272 266 6 5 258 262 -4 6 283 251 32 7 258 262 -4 8 266 289 -23 9 259 286 -27 10 270 264 6 11 263

• Word count: 2146
11. ## British Grocery Market-market structurre, supply & demand curves & economies of scale

This paper aims the four largest supermarkets- Asda, Morrison's, Tesco and Sainsbury's- as they have an extremely important part of the market. Perfect competition, imperfect competition, oligopoly and monopoly are some of the most common market structures, but what is the British grocery market structure? Throughout the social science of economics the definition of Perfect competition according to Ison (1996) "refers to a market structure where firms have no power over the market" (p.83) . In this type of market structure, firms are price takers, free to enter the industry and produce identical products (Sloman & Sutcliffe, 2001).

• Word count: 2194
12. ## Internal Labour Markets

MARKET SEGMENTATION Theories on labour market segmentation can be traced back to the contributions of a group of economists, who have criticised the traditional (classical and neoclassical), interpretation of how markets work, highlighting its gaps. According to traditional approaches, when markets are competitive, the "law of one price" is valid, which states that, in equilibrium, the same goods and services must have the same price. The Neoclassical theory is limited by the narrowness of its hypothesis, which does not allow the theory itself to explain its real phenomena.

• Word count: 2577
13. ## Oil Companies

Their need to be additional regulations set for oil companies before they get completely out of control. Oil companies have become extremely efficient in price gouging. Price gouging by definition is simply overcharging. The average gas price at present time is \$2.87, that's a sixty-five cent increase over the previous year, and a forty-nine cent increase over the past two years. Matthew Rothschild stated "Accusing oil companies of price gouging is like accusing sharks of swimming. That's what oil companies do."(Rothschild 1) As terrible as this statement is time has shown that this quote appears to be extremely true.

• Word count: 2425
14. ## What is the best way to achieve the optimal level of pollution?

Externalities can be either negative or positive, although are more often negative (hence pollution occurring). The production of these additional products can be plotted on a supply & demand diagram by giving the externality a cash value. This will usually be an upward sloping curve. If we add the value of the externality to the value of the supply curve, and assuming pollution occurs, then this will mean that the new figures will give us the marginal social cost curve, which we would expect to be above the MPC curve (see diagram below).

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15. ## Eu Expansion and its impact

Domestic consumption and investment have fueled strong GDP growth in recent years, but have led to large current account imbalances. Its population is 22,276,056 (July 2007 est.) Source from http://romaniaeconomywatch.blogspot.com/2008/03/romania-gdp-q4-2007.html Bulgaria The Bulgars, a Central Asian Turkic tribe, merged with the local Slavic inhabitants in the late 7th century to form the first Bulgarian state. For centuries it struggled with Byzantine Empire to assert its place in the Balkans. Bulgaria became independent from the Ottoman Empire in 1908. The country joined NATO in 2004 and the EU in 2007.

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16. ## cemex case study

The level of success is related to the impact and added value that an innovation has on the organisation and external environment. This essay describes how the impact and value can be measured in order to calculate and reduce the risk. These aspects are illustrated with examples of innovation within Cemex. Finally, a summary of the analysis of the relationship between growth, innovation and its success factors will be provided. Based on the findings of Huenk (1996), 'successful growth' can be seen as economic profitability due to increasing productivity.

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17. ## To see how the concepts of the framework come into practice, an annual report was chosen as an example. "MTR Corporation Limited - A dynamic and engaging report with clear, concise

or Guideline. It is important to state the requirement of SSAP or Guideline always prevail over those of the Framework. When there is any conflict arises between them, which is not that usual, reporting enterprises will not get confused. The content of Framework includes: (a) the objective of financial statements; (b) the qualitative characteristics; (c) the definition, recognition and measurement of the elements; and (d) concepts of capital and capital maintenance. (a) Objective of financial statements Different user groups and their specific information needs are identified in the Framework.

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18. ## What is a conceptual framework for financial reporting?In general terms conceptual framework is a statement of generally accepted theoretical principles, which form the frame of reference for

The Macve Report by Proffessor Richard Macve 1981 His discussions centered around the problems that arise in determining profit net assets, and these he related to the difficulties involved in establishing what constitutes useful accounting information. He further highlighted the fact the variety of user needs and conflicts of interest between different parties were likely to cause disagreement as to what information financial statement should provide. 5. Dearing Report by the ASC 1988 The report emphasized that the purpose of accounting standards was to provide authoritative but not mandatory guidance on the interpretation of what constituted a true and fair view.

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19. ## Financial reporting - Detailed examination of how FRED 21 has updated and changed the requirements of SSAP 2.

FRED: * Sets out the objectives and constraints to be considered by directors when selecting and changing accounting policies * Sets out clearly a requirement, implied but not explicit in SSAP 2, that an entity should adopt those accounting policies that are, in the opinion of its directors, most appropriate to its particular circumstances for the purpose of giving a true and fair view. * sets out the circumstances in which an entity should also disclose details of the estimation techniques used in applying its accounting policies.

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20. ## 'Positive accounting theory can explain the greening of financial accounting disclosure; it can not provide a framework for improving it.' Discuss

THE POSITIVE ACCOUNTING THEORY AND THE ENVIRONMENTAL REPORTING 1. a. A brief description of ER disclosure and PAT During the last decades companies started to pay an increasing attention to the social and environmental disclosure in their annual reports. This seems to be happened due to several reasons like the increasing power of the pressure groups as the labour units or the environmental organizations, the increasing interest of the public and the local governments about the ecological disasters and the environmental pollution; but basically because of the governments' willingness to take action about the protection of the eco-system.

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21. ## What is the role of menu costs in New Keynesian models? Is the importance placed on menu costs in these models justified by the empirical evidence?

All the major innovations of the New Keynesian school are made possible or worthwhile only because of imperfect competition. By this I mean that all the firms set their own profit-maximizing prices rather than take from the market. So what are exactly menu costs? Menu costs are costs of changing nominal price. The classic example of menu costs is the costs that a restaurant faces when it has to reprint its menu to show changes in the prices of its offerings.

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22. ## The New Keynesians Theory of Value.

are good. For 50 years, this "demand - management" model has been the standard approach in college economics. Now along comes a new generation of economists, known as "new" Keynesians, who have wisely changed their way of thinking. In the most popular textbook on macroeconomics, author N. Gregory Mankiw reverses the standard Keynesian pedagogy. In a brilliant move Mankiw begins with the classical model and ends with the Keynesian model, just the opposite of Samuelson & Company. The Keynes theory Keynes was a critic of the free market orthodoxy.

• Word count: 2450
23. ## Climate Change And Economic Policy. An Australian Perspective

The Carbon tax was implemented on June 1st 2012 and has been controversial amongst politicians and economists alike according to Clive?s article ?Australia's Carbon Tax: A Sheep in Wolf's Clothing?. The steps taken to implement a policy should be understood first before critiquing from different viewpoints. The four major points of policymaking are: 1. Specify the goals of policy 2. Identify the targets 3. Specify the policy instruments 4. Model the economy linking the instruments to the targets Using this framework, the goal?s of the policy are to mitigate damages caused by the production of greenhouse gasses on the (global)

• Word count: 2936
24. ## Demand Estimation of Indian Tractor industry

The spectacular achievement reflects the maturity and dynamism of tractor manufacturers and also the policies adopted by the government to enable it to effectively meet the demand. The tractor industry in India has made a significant progress in terms of production and capacity as well as indigenisation of technology. It is a typical sector where both imported technology and indigenous developed technology have developed towards meeting the overall national requirements. The global spotlight on tractors manufacturers certainly interms of volume seems to be swinging away from the USA, UK and Western and Eastern Europe towards India where growth in the number of producers and the total volume inrecent years have been impressive.

• Word count: 2338

## Conclusion analysis

Good conclusions usually refer back to the question or title and address it directly - for example by using key words from the title.
How well do you think these conclusions address the title or question? Answering these questions should help you find out.

1. Do they use key words from the title or question?
2. Do they answer the question directly?
3. Can you work out the question or title just by reading the conclusion?