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University Degree: Applied Economics

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  1. Indian Oil

    The developing Indian economy create the market and business for the new products .Research and development department is also contributing for the optimum utilization of the resources for the company as well as consumers .(IndianOil,2007) Preliminary business analysis Indian Oil Company was formed in the 1952, has merger with Indian Refiners limited which formed the giant oil company in India, known as Indian Oil Corporation Limited. According to the company data, IOCL and its subsidiaries account for 47% petroleum products market share, 44%national refining capacity and 75% petroleum products pipeline capacity.

    • Word count: 4786
  2. 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).

    • Word count: 2170
  3. 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.

    • Word count: 2051
  4. research method learning journal

    The close scores also suggest I could be type ENTP in that I am alert and outspoken, resourceful in solving challenging problems and good at reading other people. I am in agreement with the results of both inventories in that I am more a 'doing', action-oriented learner rather than say a 'thinking' or 'observing' learner. The fact both the tests showing similar aspects and characteristics of my learning style implies it is accurate. Kolb et al (1984) highlights that we all develop a learning style that has strengths and weaknesses, and stresses learning modes may change time to time and in different situations.

    • Word count: 5399
  5. 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.

    • Word count: 2568
  6. Transport Economics

    Car ownership and bus use This is the main cause for the declining bus use. Traveling by bus is something that people no longer want to do, and people will work longer hours so they can afford there dream car. The car driver is not the only person that stops using the bus, but also the people living in the same households that are carried as passengers. Recent trends show that car ownership is always on the rise, and it's highest in rural areas and in the large urban centers it's lowest. This is because of the lack of public transport in rural areas.

    • Word count: 1601
  7. monetary economy

    While applying market policies main aims of central banks are the efficiency and soundness of payment systems. In this paper, it will be discussed the nature of changes both in capital and money markets in EMU and observed efficiency and integration of Euro. Money Market Efficiency The single currency can be expected to deepen the integration and efficiency of national markets, reinforcing some of the benefits with the single market. First of all, the decline of exchange rate transaction costs will lead to an increase of trade flows within the Euro-area. Secondly, the elimination of exchange rate uncertainty will help reduce the risks associated with foreign trade or direct investment.

    • Word count: 1479
  8. 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.

    • Word count: 2217
  9. Organizations that influence current practice in accounting include the (FASB), (SEC), and (PCAOB)

    The statement of owner's equity presents the changes that take place in the owner's equity over a period of time. Changes in owner's equity can occur as a result of variation in the amount of investment, net income, and drawing. The statement of owner's equity relies on the results of the income statement to determine the change in equity. The balance sheet shows the financial position of a business on a specific date. The body of the balance sheet shows assets, and liabilities and capital.

    • Word count: 1136
  10. Now consider the impact of taxing just the wages of prostitutes. Since prostitutes are not currently taxed, what would the economic impact be? According to the National Academy of Sciences of the United States, there are 22.1 prostitutes

    Even at our appallingly high gas price of $2.00 per gallon, that is a tax rate of 31.6% on gas, which is an absolute necessity. The time is right to tax people's vices on a more consistent manner by taxing prostitution. With such a proposal, the religious community (of which I am a member) and people of a moral character will be up in arms at the mere thought of legalizing and taxing prostitution. They will have their moral outrage sharpened to a fine edge.

    • Word count: 715
  11. 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.

    • Word count: 2071
  12. What is materiality?

    Account Balance Level - Allocate materiality to each account. Remember that financial statement audits are done on an account by account basis. Therefore, you need to estimate how much error you can tolerate in each account before you conclude that the account is materially misstated. Two ways to allocate materiality. See page 229. o In proportion to the account's balance. This is the more mechanical approach. o In proportion to how difficult it is to audit the account. This is a more judgemental approach. Materiality and Evaluation of Audit Findings * The auditor aggregates errors the client has not corrected.

    • Word count: 1733
  13. Keynesian policies are generally pursued by socialist governments and monetarist policies by capitalist governments.

    folly rather than wisdom (The General Theory of Employment, Interest, and Money) - is as evident in today's world as it was in the 1930's. And in these dangerous days, we ignore or reject that idea at the world's peril. (A Keynesian economist's view) 1979 saw the voting in of the Thatcher government which immediately started to introduce monetarist policies. They dismantled many of the costly nationalised industries by privatising them, challenging the power held over the previous government by the unions and passed a range of legislation which diminished their power.

    • Word count: 1530
  14. Explain the operation of the Keynesian multiplier

    The consumption function in this simple model therefore represents desired consumption at different levels of national income. The marginal propensity to consumer (MPC)

    • Word count: 390
  15. Equilibrium Unemployment as a worker discipline device.

    away with it then they will continue to shirk their work.Firms have to come up with a response to this problem they face of having workers know they can shirk putting in effort on the job. If an employee can be dismissed from a job and move directly into another one(as is this case when there is an equilibrium wage)then there is no case for an employee to fear being fired and thus can shirk as much as he likes.Therefore only using dismissal as a worker discipline device proves futile in a perfectly competitive labour market.Unless offcourse there is fear that another job will prove difficult to obtain and will not be an imminent alternative.

    • Word count: 1364
  16. Inter Macroeconomics essay - Theories of aggregate supply seek to reconcile rational behavior with the observation that nominal shocks have real effects.

    In the labour market, nd = xd - x1 (w - p)= xd + x1 (p - w) ns = xs + x2 (w - pe) Assuming equilibrium in the labour market, we solve for the market-clearing nominal wage (w*). so because demand equals the supply, so we get, xd + x1(p - w*) = xs + x2(w* - pe), then we can get w*, after substituting w* into demand function, we get n=n*+(x1x2/x1+x2)[p-pe], where n*=xd-x1(xd-xs/x1+x2) which is also the level of employment when expectations are correct, the nature level of employment, then adding time subscripts, and assume a simply production, Setting aggregate supply equal to aggregate demand and we can get the equilibrium price level : where,is the aggregate excess demand shock, new classical economists assumed that agents have rational expectations.

    • Word count: 1000
  17. Discussion of Substitution and Income Effects in Consumption as Price Varies by Using the Compensating Variation Methods.

    It keeps relative price constant to show what happens to people's consumption ability when the price of a good varies. The changes in consumption are different for varieties of good. The situation of normal good, whose quantity demanded rises when its price falls down or income goes up, is shown in Figure 1. The original budget line BC1 tangents the indifference curve IC1 at point A. When price of good A falls down as other prices remain constant, the real income increases.

    • Word count: 975
  18. 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.

    • Word count: 2613
  19. Explore the relationship between aggregate expenditure, construction output and employment in a developed or developing country.

    Aggregate demand is defined as an inverse relationship between the price level and expenditure on output. The central assumption of Keynesian economic theory is that aggregate expenditure determines the equilibrium level of national income. As Samuelson and Nordhaus (1992) describe, aggregate demand refers to the total amount that different sectors in the economy, household, business, government and foreign, willingly spend in a given period. The four components of aggregate demand (often written AD) are: consumption expenditures, investment expenditures, government purchases, and net exports depend on the level of prices, as well as on monetary policy, and other factors.

    • Word count: 1587
  20. Halliburton company - Case Study.

    Of these two issues, the failure to disclose the accounting change is more serious. Failure to disclose these types of changes to investors goes against Generally Accepted Accounting Principles (GAAP), regardless of whether the changes were acceptable. However, if the changes were acceptable, why not disclose the change? FACTS OF CASE The first issue involving Halliburton is the recognition of revenue from the disputed construction jobs. Before the accounting change, Halliburton would receive most of its revenue within one year.

    • Word count: 1204
  21. Alfred Marshall (1842-1924) and Leon Walras (1834-1910) are two of the most renowned neo-classical economic theorists, who contributed a great deal to the contemporary economic analysis.

    They did have some conflicting views in regards to the determinants of the supply and demand function, and the technicalities of market equilibrium. Considering the orange juice example in the textbook (A History of Economic Thought and Method, chapter 15,page 383), Marshall placed a great deal of emphasis on the ceteris paribus assumptions. He assumed the demand for orange juice was determined not only by the price of orange juice, but also by the prices of its substitutes and complements, and the tastes and income of the consumers.

    • Word count: 1349
  22. The Economics Of Smoking.

    basic facts no.3: smoking and economics). The price of cigarettes can be interlinked with another determinant of demand, which is the price of substitutes and supplements. As the price of cigarettes increases (this means the price of all brands of cigarettes generally increase) the demand for substitute goods will increase, however there are not many substitute goods for cigarettes other than cigars, but cigars are generally more expensive than cigarettes. Thus as price of cigarettes increases the change in demand will fall but less than the change in price due to it being price inelastic as mentioned before.

    • Word count: 754
  23. This paper gives a broad description of an auditing profession and all matters that are connected with this area.

    Regulations approved by the Committee of Accounting Standards are published in Dziennik Urzedowy of the Minister of Finance. In case of lack of adequate domestic standards it is allowed to make use of International Accounting Standards. According to the accounting law it is required to obtain accounting certificate in order to be allowed to provide accounting services. It is possible to perform accounting profession without having the certificate only in case of being an auditor or a tax advisor, on the basis of other law regulations.

    • Word count: 6116
  24. '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.

    • Word count: 2528
  25. Discuss: "Arguably the Annual General Reports are a poor aid to economic decision making".

    Managers will use the reports to aid decision making about the future of the company and which strategy will make the firm the most profit in the long run. Employees will use the reports to make sure the firm is running with their best interests in mind. A questionnaire survey was conducted by Bryan Carsberg, Anthony Hope and R.W. Scapens in which 600 members of British professional accounting bodies were asked to rank the importance they thought should be attached to a set of objectives for published accounts.

    • Word count: 1582

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