Has there been a convergence or divergence among the GDPs of the different countries as time
Intro: The worlds economy oscillates between convergence, interdependence and divergence.
Growth in emerging markets is less dependent on advanced eco
Divergence, big time
by Lant Pritchett
Divergence in relative productivity levels+ living standards is a dominant
feature of modern economic history
In the last century: incomes in the less developed countries have
fallen far behind those in t
WHAT IS BUSINESS LAW?
Business law is a general category that covers several areas of law such as employment law,
contracts, taxes, and commercial transactions. All these areas affect business and business
Examples of business entities may inclu
Week 10: Fiscal and monetary policy.
Both fiscal and monetary policy can be used to control aggregate demand.
Excessive growth in AD can cause unsustainable short-term growth and higher rates of
Too little AD can result in recession, with negat
Session 7: Financial markets.
During the financial crisis, central banks around the world were asked to design measures to
help economies out of the recession and to enable the financial sector to recover and strengthen
in the future.
However, in tranquil
Overview of the financial system
I-Function of financial markets
Financial markets perform the essential economic function of channelling funds from
households, firms, governments that have a saved surplus funds by spending less than
Exercise : Insolvency
Doors Limited, a door replacement business has two formally appointed directors : Sebastian and
Bobby. Directors are officers of the company who act as agents. They can bind the company through its
acts hence they carry many
An Overview of the Financial System
Example : Inez has designed a low-cost robot that cleans house, but she has not funds
to put her invention into production. Walter has plenty of savings. If Inez and Walter
could get together so that Walter coul
The concetpt of equity
The historical emergence of equity
The word equity means fair or just in its larger sence.
In law, equity came about as a response to the deficiencies of common law
Common law : that part of the law of england formulated,developed a