Elbie Antonites, CFA
University of Pretoria
Pretoria, South Africa
Michael A. Broihahn, CFA
After completing this chapter, you will be able to do the following:
Principles of Macroeconomics, 9e - TB1 (Case/Fair/Oster)
The Economic Problem: Scarcity and Choice
Scarcity, Choice, and Opportunity Cost
The process by which resources are transformed into useful forms is
Part 1 0 Operations Management
2-1. Backwoods American, Inc., produces expensive water-
repellent, down-lined parkas. The company imple-
mented a total quality-management program in 2005.
Following are quality-related accounting data that
1. What does nominal GDP measure?
Market value of all final goods and services made within the borders of a country in a given year.
Total National Income of a country in a given year.
The value of output produced by all citizens in a given
Section B: Essay
1a) Intro: What is AE? Components of AE. What affects economic
growth? Four macro goals.
AE is the sum of desired consumption, investment, government and net export expenditures.
These components can be autonomous or induced.
Discuss the view that too much faith has been placed on examinations in your society.
Examinations are dubbed to be one of the most efficient ways to test a student's intellectual, linguistic
as well as emotional ability in the context of th
Key dates in the UN campaign against apartheid:
2 December 1950 The General Assembly declared that "a policy of 'racial
segregation' (apartheid) is necessarily based on doctrines of racial discrimination".
1 April 1960 The Security Coun
There's time for work and life
I refer to the article written on Asiaone about the issue of work-life balance in Singapore.
Firstly, the article states that 'majority of Singaporeans want a slower-paced life, a less competitive
education system, and fewer
5.Search for Political Structures
Success/failure of democratic governments
Role of military (+ Reasons for military intervention)
[Counter: JO and Military
Military IS the govt
Military challenges the govt
Military forced to support the authori
Different approaches to create national unity e.g. education, language,
religion, dominant culture, multiculturalism, national symbols, ideologies
Policies towards minorities
 Assess the view that education was more import
Confrontation and negotiation between the SEA nationalists and the
colonial powers after WWII
Cold Wars impact on decolonization
1. The Europeans did not transfer power, nationalists seized it.
2. More often than not, nationalis
GEH1055/GEM1055 Tutorial 3: Kundun
5 mins into the film
Kid - Kundun as head of the family foreshadowing his identity as Dalai Lama , spiritual
head, head of family, larger themes,
Light from the back also symbolic of his holiness
Reverence hand gesture b
ECONOMICS SYLLABUS AT A
Core: AS and A Level
Supplement: A Level only
(Additional material for A
1. Basic economic ideas
Scarcity, choice and resource
Production possibility curves
Different allocative mechanisms
a. Economic growth: Positive, Steady, Non-inflationary growth
b. Recession: two consecutive quarters of negative growth
c. Inflation: Undesirable increase of price levels
d. Unemployment: People are registered as able, available and willing t
Globalisation increases the level of competition among firms in a country, thereby making markets more
competitive resulting in increased consumer welfare.
Assess the extent to which globalization will lead to more competitive markets and increased consum
Can space research be justified nowadays?
Space Research: Research involving studies of all environmental conditions beyond
the atmosphere of the earth
Nowadays: Modern times, present day
Mankind will always remember
a general vote by the electorate on a single political question which has been
referred to them for a direct decision.
public vote, plebiscite, popular vote, ballot, poll More
The operation was a significa
3.Impact of Japanese Occupation
Impact of Japanese Occupation on nationalist movements
Collaboration VS Resistance by local nationalists: successes and limitations
Was JO a turning point?
Impact of Japanese Occupation on nationalist movements
7.Economic Development and
Economic challenges encountered and strategies adopted to promote
Role of government in economic development
-  Assess the causes of the 1997 Asian Financia
The inuence of RR's _ndings comes from its straightforward, intuitive use of
data to construct
a stylized fact characterizing the relationship between public debt and GDP
growth for a
range of national economies. However, this laudable e_ort
A study of identity has important policy implications, in addition to the issues discussed above, nationbuilding is often discussed as a remedy for potential problems associated with social distance in general,
and with ethnically fragmented societies in
Despite the above insights, too little is known about how innovation takes place in developing
country economies, how it diffuses and what its impacts are.60 Importantly, the conventional
focus on innovation connected to large-scale, formal-sector S&T and
Table 1: Data definitions
Identification Identification with Sudan/state/religion/tribe/Arabs/Africa, coded 1 to 10, i.e. from not at all to
Bribe Whether have been asked for a bribe, responses coded 1 to 4, i.e. from in the last month, s
Data on informal employment are especially important, because they are often used to
estimate statistics related to economic conditions more generally. Again, due to the lack of a
standard definition of the IE and corresponding official statistics, it is
Conclusions and policy Implications
The analysis has provided evidence that there is a negative association between bribery and identification
at all levels, but particularly with respect to the tribe, the state and the nation. Least affected is religious
Confirming that the acquisition of skills in the formal sector seems important, the studies in
the area of metal manufacturing argue that improvements in production techniques depend
on the existence and support of a local capital goods industry. Countrie
country-years of data: 25 years of Belgium were dropped in addition to the
accounted for by the years that RR excluded.
Spreadsheet coding error
A coding error in the RR working spreadsheet entirely excludes _ve countries,
Communities, Clusters, Intermediaries and Institutions
In the context of innovations in more traditional sectors and based on traditional knowledge,
studies reveal that instead of individual innovators, communities can best be regarded as the
This paper proposes definitions, an analytical framework and a policy spectrum for further
empirical research regarding the informal economy, innovation and intellectual property. In
so doing, it draws on the rich existing literature on the IE,
Conclusion and Recommendations
In this article, we attempt to replicate 67 papers from 13 well-regarded
using author-provided data and code replication files. Improving on existing
the state of replication in economics,
(2) Regression method - Feed various levels of highly digestible protein, and
extrapolate back to the zero N intake.
b) Both methods underestimate MFN because:
(1) Endogenous N 8 when protein is fed.
(2) The rate of endogenous N secretion varies with diff
1) Cereal grains, their by-products & soybean meal are rather low (e.g., corn, 1.4 mg
& SBM, 3.2 mg/kg DM) - Corn-soy diets are borderline to deficient, thus must be
2) Green, leafy vegetables, yeast & forages are good so