Globalisation and Transnational Companies
Globalisation from an economic perspective is the ever increasing integration of the worlds local,
regional and national economies into a single market. This
12) Balance of Payments
Balance of Payments
The balance of payments of any country records the receipts and payments from all economic
transactions between a country and the rest of the world in a cer
13) Foreign Exchange
Exchange Rate
The amount of domestic currency that is exchanged for one unit of foreign currency
Supply and Demand of Currency
Demand
Pay for purchase of imported goods and servic
EC220 Problem Set 6
Lei Sun
201555121
1. (a) From the table above, we could clearly see that the coefficients of college and female havent changed a lot after adding the new variable: age
as well as t
Economics 315 International Macroeconomics
Lecture 5: The Monetary Model
Dr. Keyu Jin
London School of Economics
Introduction
Question: what determines nominal exchange rates?
Partial answer: PPP hol
Chapter 9. Differential Equations
9.1. Introduction to Differential Equations
Sometimes the mathematical formulation of a problem involves an equation in which a quantity and the rate of
change of tha
9.3. First-order Separable Differential Equations
Many useful differential equations can be formally rewritten so that all the terms containing the independent
variable appear on one side of the equat
9.5. First-order Linear Differential Equations (Method of integrating Factors)
Unlike other cases of first-order differential equations, we can actually derive a formula for a general solution to
firs
9.2. Direction Fields (or Slope Fields)
Certain differential equations, including many that arise in practical applications, cannot be solved analytically.
Without actually solving a first-order diffe
Demand
Quantity demanded (Qd)
Amount of a good or service consumers are
willing & able to purchase during a given
period of time
2-1
Definitions
Demand function
Quantity demand as a function of th
Introduction to Managerial Economics
Managerial economics is the science of directing scarce resources to manage cost
effectively.
Definition:
1. Managerial Economics is the use of economic modes of t
Lecture 1: Demand
Learning Objectives on Demand
Define the demand curve
List the main factors that determine market demand.
List the factors that are held constant along a market demand curve
Explain
9) Inflation
Inflation
Inflation can be defined as a situation where there is a sustained and inordinate increase in the
general price level.
Sustained: Price increase must last for a reasonable perio
8) Unemployment
Unemployed
The unemployed refers to people in the working age population who are available for work and are
actively looking for a job but cannot find a job.
Unemployment Rate
The perc
What is causing poverty in East Africa and India and how effective is our foreign
aid and the help of NGOs at reducing poverty in these countries?
Why poverty? I have continually become more and more
Dr
Dr
Dr
Dr
Dr
Dr
Dr
Dr
Dr
Dr
Dr
Dr
Dr
Dr
Dr
Appropriation account
Cr
Interest expense
Cr
Cash at bank
Cr
Disposal
Cr
Accumulated Depreciation
Cr
Disposal
Cr
9000
Capital Account: Martin
Capital Accou
Income Statement
Sales
(less sales returns)
Interest recieved
Total Revenue
Distribution expenses
Bad debts
Provision for doubtful debts
Wages and Salaries
Rent, rates and insurance
Fixtures and fitti
The forces of demand and supply affect the. This is a floating exchange rate. We can also
get fixed exchange rates where a certain amount of pounds will guarantee a certain
amount of US exchange rate
The Balance of Payments
Exchange rate systems
The balance of payments is a record of all financial dealings over a period of time between economic agents of one
country and all other countries. It is
FP2 questions from old P4, P5, P6 and FP1, FP2, FP3 papers (back to June 2002)
The following pages contain questions from past papers which could conceivably appear on
Edexcels new FP2 papers from Jun
H1 Economics Notes (Summary)
1) Introduction to Economics
Central Economic Problem (Scarcity)
Humans have unlimited wants but limited resources to fulfil these wants with.
Scarcity of resources result
2) Price Determination in Product Markets
Assumption: Markets are Perfectly Competitive
Meaning:
1) The goods being offered for sale are all the same
2) No single buyer or seller can influence the mar
3) Elasticities of Demand and Supply
Price Elasticity of Demand
A measure of the degree of responsiveness of quantity demanded of a good to a change in its price,
ceteris paribus
Price Elasticity of D
4) Demand, Supply and Government Policies
Consumer Surplus
Consumer surplus is the difference between the maximum price a consumer is willing to pay and the
price that he actually pays.
Producer Surpl
7) National Income Statistics
Gross Domestic Product
Gross domestic product is the total monetary value of all final goods and services produced within an
economy, regardless of whether the resources
6) Income and Employment Determination
Aggregate Demand
The Aggregate Demand is the total quantity of goods and services demanded in the economy by the
four sectors Household, firms, government and tr
Managerial Economics
Introduction, Basic Principles and
Methodology
The central themes of Managerial Economics:
1. Identify problems and opportunities
2. Analyzing alternatives from which choices
can