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Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or faculty members.
Due Day 3
Respond to the following in a minimum of 175 words:
Compare and contrast the characteristics of monopolistically competitive, monopolistic, and perfectly competitive markets.
Provide an organization that is an example of each and discuss how changes in their pricing affect your purchase decisions.
Due Day 7
Post 2 replies to classmates or your faculty member. Be constructive and professional.
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PEST AND FOREIGN DIRECT INVESTMENT Case Overview – This assignment is intended to allow you to apply some key concepts from this course in a real-world context. Specifically, you must select a country of your choice (not your home country), review the country’s PEST and critically discuss the country’s attractiveness or otherwise for foreign direct investment. Learning Objectives – This assignment requires you to explore and evaluate the costs and benefits of FDI with respect to your selected country in particular and host economies in general. It therefore, fulfils broad learning objectives related to this course. However, the primary learning objective of this assessment task is to appreciate the macro-economic causes of growth in an economy and the subsequent and/or consequential influence on FDI. Through an analysis of the political economy in this context, this assessment is also designed to evaluate your ability to apply your understanding of the political economy and country attractiveness for investment. Advice – Remember that the political economy stresses that the PEST systems of a country are interdependent; they interact and influence each other, and in doing so they affect the level of economic well-being. The study of the PEST highlights the combined effect of factors in assessing the economic wellbeing of a country and subsequently that country’s attractiveness as a destination for foreign direct investment. In light of this, it is expected (and even encouraged) that you will overlap and integrate your discussion around the different components of PEST. You will find that Chapters 6 and 7 in your textbook are an excellent initial source of information: Hill, CL et al (2019), Global business today: Asia-Pacific Perspective, 5 th Edition, McGraw-Hill Education Australia (you will need to log into the library website with your student ID to access this resource). Formatting, submission and word count –
Submit your assignment in size 12 font (Arial or Times New Roman) and 1.5 line spacing.
You are required to submit this assessment electronically through Turnitin. No hardcopies are required.
The word count of your case study analysis is 1200 words +/- 10%. You are required to demonstrate your ability to keep within the recommended range of words while still providing a comprehensive analysis of the case. If you go above the maximum word count you will be penalised.
Your reference list should include at least 5 academic references and you should refer to these in the text of your case study through citations. Marking Criteria (second column) – the following marking criteria and marking rubric will be utilised when grading this assessment. A more detailed explanation of these marking criteria will be provided during class. GSBS6003 Globalisation – Individual case study analysis (30%) If you have questions about any of the criteria in this rubric, please raise them during class or in the Assignment 1 FAQ Discussion Forum in Canvas.
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An economy is assumed to be operating at full capacity when its real GDP (what the economy produces) equals its potential GDP (what the economy would produce if all factors of production are used). When the economy is producing at full potential, everyone who wants to work can find a job, because every worker who enters the workforce will produce what he or she will eventually consume with the income. In addition, and when the economy is producing at full capacity, unemployment rates in the economy represent the natural rate of unemployment (only frictional and structural unemployment exists), which is also referred to as full employment. When the economy produces what it needs and consumes what it produces, the price level of the final goods and services and the price level of inputs (material and labor) will be at the same. In other words, the rate of change in the price level of goods and services will be equal to the rate of change in income (wages and return to investment).
To ensure the economy continues to operate at potential GDP (full capacity where all savings are invested in production functions and where all those who wish to work can find a job and all other factors of production are fully utilized in the production function), governments use fiscal and monetary policies to lower unemployment rates and to control prices (inflation).
Please review the following videos to better understand both fiscal and monetary policies.
· Discuss the primary goals of expansionary and contractionary fiscal policies and their effects on unemployment rates, inflation rates, interest rates, private investment, and GDP.
· Discuss the goals of expansionary and contractionary monetary policies used by the Federal Reserve Bank and the approaches (called monetary policy tools) used to achieve each policy. Also, discuss the effect of each policy on GDP, price level, private investment (investment in capital acquisition by firms and housing by households), and net trade.
· In your opinion, which policy is more effective, and why?
3 pages
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Problem 1: Monetary Policy and Macroeconomic Dynamics (35 Points) All variables in the model below are measured in percentage deviations from their long-run levels (percentage deviations of gross rates in the cases of ináation and the interest rate). Suppose that the dynamics of output (yt) are determined by the following intertemporal condition: yt = Et (yt+1) + yt1 [it Et (t+1)] + ut ; (1) where 0 < 1 captures the impact of past output dynamics on current output (for instance, because of habits in consumption behavior), > 0 is the elasticity of intertemporal substitution, it is the nominal interest rate between t and t + 1 decided by the central bank at time t, Et (:) is the expectation operator, t+1 is ináation at t + 1, and ut is an exogenous output demand shock. Ináation is determined by the following modiÖed New Keynesian Phillips curve: t = t1 + yt + Et (t+1) + zt ; (2) where 0 < 1 captures persistence in ináation implied, for instance, by indexation mechanisms, > 0, 2 (0; 1) is the representative householdís subjective discount factor, and zt is an exogenous supply-side shock. Finally, the central bank sets the interest rate to respond to ináation and output according to the Taylor rule: it = 1t + 2yt + t ; (3) where the policy response coe¢ cients are such that 1 > 1 and 2 0, and t is an exogenous interest rate shock. Assume that the shocks ut , zt , and t are such that: ut = uut1 + “u;t; (4) zt = z zt1 + “z;t; (5) and t = t1 + “;t; (6) where the persistence parameters u , z , and are all strictly between 0 and 1, and “u;t, “z;t, “;t are identically and independently distributed innovations with zero mean and variance 2 “u , 2 “z , and 2 “ , respectively. We can guess that the solution of the system (1)-(3) can be written as: yt = yyyt1 + yt1 + yuut + yzzt + yt ; (7) t = yyt1 + t1 + uut + zzt + t ; (8) and it = iyyt1 + it1 + iuut + izzt + it ; (9) where the ís are elasticities that can be obtained with the method of undetermined coe¢ cients. Explain why we make this guess based on the information I have given you. Now assume that the parameters and are such that = = 0. What do you think happens to yy, y, y, , iy, and i in this case? Why? Use the method of undetermined coe¢ cients to solve for the elasticities yu, yz, y, u, z, , iu, iz, and i when = = 0. (Suggestion: Start by focusing only on y, , and i. They are the only ones you will actually need to complete the rest of the problem. Find these three, work on the rest of the exam, and come back to compute the other elasticities if you have time.) Suppose that an innovation (any of the three) happens at time 0, after which no other innovation happens. Can the responses of any of the three endogenous variables (output, ináation, the interest rate) be more persistent than the shock that is a§ected by the innovation? Why? Think of periods as quarters and assume the following values for the remaining parameters of the model: = 0:5, = 0:05, = 0:99, 1 = 1:5, 2 = 0:5, and = 0:5 (you do not need the values of the other persistence parameters to answer this question). Set up an Excel spreadsheet to plot the responses of output, ináation, and the interest rate to an innovation “;t = 1 to the interest rate at time t = 0, followed by no other innovation. Plot the responses and include the Excel Öle with the answers you will sub Explain your intuition for the responses you Önd. Why do the responses of output and ináation that you plotted display no hump (i.e., the peak responses happen immediately)? What do you think we would need to have a hump in, for instance, the response of ináation? Would you consider the model (1)-(6) to be a good model to describe monetary policy conduct and macroeconomic dynamics in the aftermath of the 2007-08 Global Financial Crisis or during the current crisis? Why? Problem 2: House Prices and the Macroeconomy (35 Points) Consider the following version of the Önancial accelerator framework. The representative individual lives for two periods and not only makes decisions about consumption and savings, but also housing purchases. We interpret ìperiod 1î as the ìyoung periodî of the individualís life, and ìperiod 2î as the ìold period.î In the young period of an individualís life, utility depends only on period1 consumption, c1. In the old period of an individualís life, utility depends both on period-2 consumption, c2, as well as her/his ìquantityî of housing (denoted h). (For concreteness, you can think of ìquantityî of housing as the square footage and/or the ìqualityî of the housing space.) From the perspective of the beginning of period 1, the individualís lifetime utility function is: ln c1 + ln c2 + ln h; in which ln(:) stands for the natural log function, the term ln h indicates that people directly obtain happiness from their housing, and, for simplicity, we abstract from discounting of the future. Due to the ìtime to buildî nature of housing (that is, it takes time to build a housing unit), the representative individual has to incur expenses in her/his young period to purchase housing for her/his old period. The real price in period 1 (i.e., measured in terms of period-1 consumption) of a ìunitî of housing (again, think of a unit of housing as square footage) is p H 1 , and the real price in period 2 (i.e., measured in terms of period-2 consumption) of a unit of housing is p H 2 . In addition to housing decisions, the representative individual also makes stock purchase decisions. The individual begins period 1 with zero stock holdings (a0 = 0), and ends period 2 with zero stock holdings (a2 = 0). How many shares of stock the individual ends period 1 with, and hence begins period 2 with, is to be optimally chosen. The real price in period 1 (i.e., measured 4 in terms of period-1 consumption) of each share of stock is S1, and the real price in period 2 (i.e., measured in terms of period-2 consumption) of each share of stock is S2. For simplicity, suppose that stock never pays any dividends (that is, dividends = 0 always). Because housing is a big-ticket item, the representative individual has to accumulate Önancial assets (stock) while young to overcome the informational asymmetry problem associated being able to purchase housing. Suppose the Önancing constraint that governs the purchase of housing is: p H 1 h = R HS2a1: In this Önancing constraint, RH > 0 is a government-controlled ìleverage ratioî for housing. Note well the subscripts on variables that appear in the Önancing constraint. Finally, the real quantities of income in the young period and the old period are y1 and y2, and they are exogenously given. The sequential Lagrangian for the representative individualís problem lifetime utility maximization problem is: L = ln c1 + ln c2 + ln h + 1 y1 c1 S1a1 p H 1 h +2 y2 + S2a1 + p H 2 h c2 + R HS2a1 p H 1 h ; in which is the Lagrange multiplier on the Önancing constraint, and 1 and 2 are, respectively, the Lagrange multipliers on the period-1 and period-2 budget constraints. Brieáy describe the informational asymmetry problem that motivates the existence of Önancing constraints, and why it can be a serious problem in Önancial transactions. Brieáy describe the role that the leverage ratio RH plays in the ìhousing Önanceî market. In particular, brieáy discuss what higher leverage ratios imply for the individualís ability to Önance a house purchase (i.e., ìobtain a mortgageî). Based on the sequential Lagrangian presented above, compute the two Örst-order conditions with respect to a1 and h. (You can safely ignore any other Örst-order conditions for the purposes of this problem.) Based on the Örst-order condition with respect to h obtained above, solv the period-1 real price of housing p H 1 (that is, your Önal expression should be of the form p H 1 = :::, where the term on the right hand side is for you to determine). Note: You do NOT have to eliminate Lagrange multipliers from the Önal expression. Based on the expression for p H 1 obtained above, assuming that > 0 and RH > 0, answer the following: Is the period-1 price of housing larger than or smaller than what it would be if Önancing constraints for housing were not at all an issue? Or is it impossible to determine? Carefully explain the logic of your analysis, and provide brief economic interpretation of your conclusion. For the remainder of this problem , suppose that 1 = 2 = 1. Consider the period-1 housing market, with the quantity h of housing drawn on the horizontal axis and the period-1 price, p H 1 , of housing drawn on the vertical axis. Using the house-price expression you obtained above, qualitatively sketch the relationship between h and p H 1 that it implies. Your sketch should it make clear whether the relationship is upward-sloping, downward-sloping, perfectly horizontal, or perfectly vertical. Clearly present the algebraic/logical steps that lead to your sketch, and clearly label your sketch. In the same type of sketch as above, clearly show and label what happens if p H 2 rises. (Examples of what ìcould happenî are that the relationship you sketched rotates, or shifts, or both rotates and shifts, etc.) Explain the logic behind your conclusion, and provide brief economic interpretation of your conclusion. In the same type of sketch as above, clearly show and label what happens if RH rises. (Examples of what ìcould happenî are that the relationship you sketched rotates, or shifts, or both rotates and shifts, etc.) Explain the logic behind your conclusion, and provide brief economic interpretation of your conclusion. Essay Question: Pandemic Dynamics and Policy Response (30 Points) Based on the material you studied in this class and any other source you may have read, how do economic dynamics interact with those of a pandemics? How does 6 containment policy contribute to shaping pandemic and macroeconomic dynamics? And what roles do/should monetary and Öscal policy play? Using at most three (letter-size) pages of text and three Ögures (not counted toward the page limit) write an essay that tackles these questions. You will be rewarded for not simply copying material from the slides, but you should make sure to indicate explicitly the material you refer to in building your analysis (examples, ìEichenbaum-Rebelo-Trabandt model slides,î ìÖnancial accelerator slides,î ìpaper X that I read for my own interest,î and so on). 7
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1. Develop a proposal that provides an overview of an original Talent and Value Proposition that focuses on creativity, annual budget savings, and changes within the workplace regarding current employees.
2. Explain how employers could verify that their employee benefits comply with all federal laws by using the U.S. Department of Labor resources.
3. Explain how employees could verify that their benefits comply with all federal laws using the U.S. Department of Labor resources.
4. Describe the steps that can be taken to support the development of individualized strategies for creating an internal “gig economy” and why and how this can be beneficial inside an organization.
5. Recommend a process that optimizes an employee-based suggestion program to continually refresh the total rewards and contingent worker development within an organization.
6. Determine the unique needs of contingent workers as non-employee talent continues to rise and remote work becomes more prevalent within organizations.
7. Discuss the pros and cons of providing benefits and rewards for gig workers.
8. Use at least five quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality academic resources.
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all support. Check with your professor for any additional instructions.
The specific course learning outcomes associated with this assignment are:
· Create a strategy for maximizing the advantages of a total rewards program, including how it’s communicated.
· Assess the effectiveness of a total rewards program in motivating employees.
Compose a self-reflection on why it is important to understand the different types of economies in the social work profession. Consider the relationship between the state, the market and organizations in creating social policies and how different economic contexts (capitalism, socialist economy, mixed economy, neoliberalism and political economy) influence the creation of social policies and Social Work practice and service delivery.
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Social Security’s long-term foundation could be more promising. Social Security is also expected to run out of its $2.8 trillion in spare cash by 2034. This funded program pays out to the following groups: old age, Survivors, and Disability Insurance Trusts, with payees totalling 60.5 million each month. If the program continues to serve its people, it is believed to burn through its excess cash reserves, which could lead to benefits being cut, averaging 21% by 2034. Not only is Social Security facing the problem of potential depletion of funds but crises such as a falling worker-to-beneficiary ratio, rising life expectancies, near-record low bond yields, and congressional stalemates. On the flip side, more new workers in the labor force must be needed to replace retiring boomers. Between 2015 and 2035, the worker-to-beneficiary ratio is forecast to fall from 2.8-to-1 to as low as 2.1-to-1 (Hagen, 2023). In short, there will need to be more payroll tax revenue to support the growing number of beneficiary payments heading out. Social Security did not foresee life expectancy improving as much as they have, resulting in longer life expectancy and allowing individuals to draw Social Security payments for an extended period. The under-the-radar issue for Social Security has been falling interest rates. Congress does not see a need to review the imminent
cash shortfall for the program correctly. Despite having more than a dozen Social Security fixes, including multiple options to raise revenue through taxation and reduce benefits, Congress still needs to make progress on implementing a solution. Making the necessary changes now for the future could help fill the gap in services by doing the following:
Change the cost-of-living adjustment (COLA) that increases retirees’ and beneficiaries’ current benefits (Vernon, 2023).
Increase the average retirement age, currently 67 for people born in 1960 and after (Vernon, 2023).
Reduce survivors’ benefits (Vernon, 2023).
Reduce benefits for future retirees (Vernon, 2023).
Require 40 years, instead of 35 years, of participation in the system to earn full benefits (Vernon, 2023). References Hagen, K. (2023, May 4). Understanding social security benefits. The Motley Fool. https://www.fool.com/retirement/social-security/ Vernon, S. (2023, March 17). To Fix Social Security, there are no easy choices, but it’s doable. Forbes. https://www.forbes.com/sites/stevevernon/2023/03/16/fixing-socialsecurity-no-easy-choices-but-its-doable/?sh=7cec16d840b8
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The fur trade is a booming industry dealing in animal fur production, acquisition, and trade. The trade was back in the early century when animal fur was used to protect people from cold. Also, animal fur has over the years used in making garment and other personal use including drums. Thus, the huge demand for animal fur has sustained the trade. Moreover, fur trade has had other consequences over the history of humankind. For instance, it trade necessitated the colonization of countries such as Siberia, North America, and South Shelland. One of the major suppliers of fur to the world market in the early Middle Ages was Russia. This was before the colonization of North America by European Merchants. As the market for fur increased in Europe and especially Leipzig, Germany, Russian settle in Siberia due to the existence of many animals that could produce quality fur. In their stay in the country, the Russian immigrant treated the local people with contempt to further their exploitation. In 1500, the trade of fur began in North America among the native and Europeans traders. In the contemporary world, the trade for animal fur has faced increased resistance from right animal organizations, who argue that it is wrong to mishandle animals because of their fur. In addition, the right animal group says it is wrong to kill animals for profit. Because of increased pressure fur traders has resulted to synthetic imitations to replace the dwindling supply of natural fur.
Conclusion
Fur trade has faced tremendous pressure from the right animal group, which has diverted the industry to synthetic imitations. The trade in animal fur has faced a ban, increased taxation, and restriction of the amount to protect animals and their contribution to the ecosystem. Rights group have argued that the brutal killing of animals for fur has affected the balance of nature and necessitated increased pollution. Moreover, fur trade has been accused of pollution of land and water bodies during production and treatment of fur. The use of toxic chemical has been blamed for the death of aquatic plant and animals. In addition, the millions of minks killed for fur annually pollute streams and rivers in the same measure as chemical do. Therefore, fur trade disadvantages huge population in the world thus questioning the industry’s credibility. Furthermore, the way animals are breed, raised in cages and killed position fur trade as an illegal outfit that needs to be regulated. Animals whether kept for meat, fur or any other need require being treated with care and dignity that respect their rights. Animal farmer need use better ways of killing such as death pills that do not affect other animals directly or indirectly. Moreover, the rate of which animals are killed for fur should be regulated to protect biodiversity and extermination some breeds for their habitats. Nonetheless, fur trade has helped people to keep warm. Fur trade has also improved the life of farmers as well as helped initiate the establishment of the trade route from Russia, Europe to North America.
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Current reimbursement rules and regulations permit the hospital to ‘sell’ its excess laboratory service capacity to locally owned and affiliated physician practices and bill at the hospital rate. Although this reimbursement policy could change in the future, NCU Academic Medical Center (AMC) has decided to explore developing a lab outreach program to employ currently idle lab capacity. Given the significant fixed cost investment and requisite testing availability required in a hospital, NCU AMC can perform specialized testing not available in commercial laboratories and can conduct routine tests quicker and more frequently than commercial laboratories.
Complete an Activity-Based Costing Exercise
Projected total costs for the NCU AMC laboratory are $6 million ($4 million in direct costs and $2 million in indirect costs). Use the provided information to determine the non-labor costs of each test:
Table 2. Determine Non-Labor Cost
Test
Projected
Labor
Supply
Equipment
Volume
Expense
Expense
Use
Factor X activity
150
25
165
60 min
CBC
1000
4
1.00
15 min
BMP/Chem 7
1400
4
1.50
10 min
Create a brief PowerPoint presentation succinctly explaining the financial management concepts and/or how the operational budget works in this scenario. Your presentation will be to the Board of Directors, who must provide approval before the project can move forward.
Incorporate appropriate animations, transitions, and graphics as well as speaker notes for each slide. The speaker notes may be comprised of brief paragraphs or bulleted lists.
Length: 5-7 slides
References: Include a minimum of 3 scholarly resources.
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Appraising the value of public policy should include a budgetary assessment. As a professional in the field, you will not only need to perform the assessment but also select how the assessment will be performed.
Because public policies can be expensive, it is important to use economic approaches to understand governmental programs’ real costs better.
This week you will research cost-benefit and cost-effective analyses of the policy you are evaluating.
To inform the stakeholders you identified in Week 2, add 10 to 15 slides detailing the fiscal analysis you deem necessary for gauging the cost of the policy.
Consider the following questions about the policy that you evaluated in Week 2:
-What cost-benefit analysis would you apply?
-What steps would you go through?
-What kinds of data would you need to conduct such an analysis?
-What financial and human resources would this analysis require?
-What results would you expect?
-What cost-effectiveness analysis would you apply?
-What steps would you go through?
-What kinds of data would you need to conduct such an analysis?
-What financial and human resources would this analysis require?
-What results would you expect?
-Add a Summary Document for your stakeholders that includes a quick guide table that will be attached to the report you give them in Week 6. Populate the table with the answers to the above questions for each cost analysis. A table example is posted below:
Week Three Cost Analysis Table attached….
Format your PowerPoint® presentation to ensure that the slides only contain essential information and as little text as possible. Do not design a slide made up of long bullet points. Your speaker notes convey the details you would give if you were presenting.
