School of Economics | Admin
1
archive,paged,author,author-admin,author-1,paged-26,author-paged-26,ajax_fade,page_not_loaded,,qode-title-hidden,qode_grid_1300,qode-content-sidebar-responsive,qode-theme-ver-11.1,qode-theme-bridge,wpb-js-composer js-comp-ver-5.1.1,vc_responsive

Definition of Unemploymen  Tejvan Pettinger  Unemployment is defined as a situation where someone of working age is not able to get a job but would like to be in full-time employment. Note: If a mother left work to bring up a child or if someone went into higher...

 Tejvan Pettinger  Movements in the stock market can have a profound economic impact on the economy and individual consumers. A collapse in share prices has the potential to cause widespread economic disruption. Most famously, the stock market crash of 1929 was a key factor in precipitating the great depression of...

Terms of Trade Effect   Definition: The Terms of Trade is the average price of exports / by the average price of imports. It is a measure of a countries relative competitiveness.   If export prices rise relative to import prices, we say there has been an improvement in the...

 Tejvan Pettinger  John M Keynes The essential element of Keynesian economics is the idea the macroeconomy can be in disequilibrium (recession) for a considerable time. Keynesian economics advocates higher government spending (financed by government borrowing) to help recover from a recession. Keynesian economics includes Disequilibrium in macro economy...

 Tejvan Pettinger  The environmental Kuznets curve suggests that economic development initially leads to a deterioration in the environment, but after a certain level of economic growth, a society begins to improve its relationship with the environment and levels of environmental degradation reduces. From a very simplistic viewpoint,...

 Tejvan Pettinger  Non-price competition involves ways that firms seek to increase sales and attract custom through methods other than price. Non-price competition can include quality of the product, unique selling point, superior location and after-sales service. Models of perfect competition suggest the most important issue in markets is the...

Policies for Economic Development  Tejvan Pettinger  Economic development implies an improvement in economic welfare through higher real GDP, but also through an improvement in other economic indicators, such as improved literacy, better infrastructure, reduced poverty and improved healthcare standards. Policies for economic development could involve: Improved macroeconomic conditions...