economics allnighter crew (3 Viewers)

[Randox]

Can be used as both countering inequality and unemployment.

 

[Randox]

It wouldn't be just trading blocs. Mostly likely be international orgs, forums, trading blocs and trage agreements

 

[johnny_boy12]

How would you tackle an essay on Trading Blocs?

oh good question, you can talk about how lowering the trade barriers promotes the idea of free trade. Also you can mention about either how Australia moved away from being trading partners with Great Britain and moved their trade towards Asia due to high levels of growth and being easier to export and import. Also you can talk about how China moved away from a market/managed based economy and what policies they implemented to promote free trade. Still a good method to back these facts up is with diagrams as i normally get high 18/20's for my essays due to the fact i incorporate graphs with my info. That would be how i would tackle this essay question

 

[leesh95]

What are some international agreements relating to environment?

 

[johnny_boy12]

What are some international agreements relating to environment?

kyoto protocol is the only one i can remember

 

[leesh95]

kyoto protocol is the only one i can remember

Ah yes thanks

 

[Drifting95]

oh good question, you can talk about how lowering the trade barriers promotes the idea of free trade. Also you can mention about either how Australia moved away from being trading partners with Great Britain and moved their trade towards Asia due to high levels of growth and being easier to export and import. Also you can talk about how China moved away from a market/managed based economy and what policies they implemented to promote free trade. Still a good method to back these facts up is with diagrams as i normally get high 18/20's for my essays due to the fact i incorporate graphs with my info. That would be how i would tackle this essay question

I asked this question an hr ago, hmm...

 

[leesh95]

Explain the concept of NAIRU?

 

[makakandchesse]

Who else in nervous?

 

[Randox]

Explain the concept of NAIRU?

The non accelerating inflation rate of unemployment is a level of unemployment (estimated to be 4.8% by treasury) which contains no cyclical unemployment. As such unemployment in the forms of structural, frictional etc make up this unemployment. When unemployment is above the Nairu increases in AD will see consumption increase leading to higher demand for labour (as labour is the derived demand for g+s). As such cyclical unemployment will fall. However, once unemployment is at the nairu, increases in AD will see firms raise their wages to compete for existing workers rather than new workers. As such this build inflationary pressures in the economy while not reducing levels of unemployment by a significant amount. Therefore the concept of the nairu highlights that macroeconomic policies are only effective at reducing unemployment to a certain extent. To reduce unemployment in the long term, structural change is needed through micro reforms. This will move the Nairu to a lower level and allow for unemployment to increase.

Please mark /4

 

[leesh95]

The non accelerating inflation rate of unemployment is a level of unemployment (estimated to be 4.8% by treasury) which contains no cyclical unemployment. As such unemployment in the forms of structural, frictional etc make up this unemployment. When unemployment is above the Nairu increases in AD will see consumption increase leading to higher demand for labour (as labour is the derived demand for g+s). As such cyclical unemployment will fall. However, once unemployment is at the nairu, increases in AD will see firms raise their wages to compete for existing workers rather than new workers. As such this build inflationary pressures in the economy while not reducing levels of unemployment by a significant amount. Therefore the concept of the nairu highlights that macroeconomic policies are only effective at reducing unemployment to a certain extent. To reduce unemployment in the long term, structural change is needed through micro reforms. This will move the Nairu to a lower level and allow for unemployment to increase.

Please mark /4

Thanks

 

[leesh95]

Who else in nervous?

I am so nervous. I don't feel like I know the whole content well enough.

 

[makakandchesse]

I am so nervous. I don't feel like I know the whole content well enough.

Same here! Like no matter how much i study i feel its not enough :/ I just hope the exam isnt too hard...

 

[ZSP]

when is everyone planning on sleeping

 

[DJ696]

Hey guys, I don't do economics but I feel to join the thread and lighten the mood up

 

[Randox]

2am. Wake up at 3:30 haha

 

[ZSP]

just woke up, we have 7 hours guys, good luck to everyone

 

[Spiritual Being]

Good luck kids.

 

[Amaranth_]

Goodluck guys

 

[SGSII]

Good luck everyone!