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Organizational Behavior

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Abstract

In the contemporary time, with so much competition and struggle for success, organizational changes occur. By complementing the previous reports and researches on the productivity and organizational changes, this paper identifies the effect of organizational changes on workers. Our findings show that employers compensate for their selective workers in order to get high-performance workplace practice. Evidence also indicated that the compensation to selective workers increase the inequality in income. Finally, this paper will provide you information about the correlation between employment and organizational changes. This correlation indicates that self-managed teams face more employment reduction, whereas other practices like the workers’ percentage engaged to the job rotation create less employment reduction.

Organizational Behavior

Introduction:

International trade or foreign competition helps the domestic organizations to improve their policies and strategies to increase competitiveness. For this reason, many organizations have tried and advanced to enhance the performance. They are trying to improve the performance of their workforce. Many organizations reorganized their workforce through various practices include self-managed team, compensation plan, job rotation, training programs. This reorganization is usually known as high-performance workplace practices. Through the HPW practice, an organization can easily make skilled and efficient labor force.

The progress of the HPW practices highly depend on the labors as labors do not accept the extra burden unless they find the profit or piece of gain in return. Therefore, wages of the reorganizing firm is higher than the firm who is working on the traditional pattern. The HPW practices are not applied to the whole workforce instead some selective workers gain training or interest from it. It brings the organizational changes which can be both positive results for the organization like wage inequality and high involvement of the workers.

Discussion:

The workplace innovation firstly impacts the wages of the workers. This is because organizational changes can bring the high performance of the organization. Therefore employers get ready to benefit the workers in many ways. Employers introduce various programs and pieces of training to enhance the quality of their labor force. These training not only benefits the organization but also to the worker, as by enhancing their skills, they can seek better options outside their workplace to get a higher wages. The practices also make the non-marginal workers and low skilled workers to learn about working in a self-managed team. These practices can enhance interpersonal skills and can also decrease the problems of the organization through problem-solving skills.

To ensure the positive results by HPW practices, employers often announce the higher wages. The increase in wages leads to the active participation and high performance of the worker. These are the workers who otherwise can be reason of the job security of the supervisor. The problem arises when the wages of selective workers increase rather than the whole workforce. It brings the inequality of income among the workers, and it increases the cost of the workers turnover. Evidence shows that the reason behind increasing the wages for selective workers depend on their performance and to keep them engage with the organization otherwise workers always try to find a better job where they can get more wage ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"T2DTxD95","properties":{"formattedCitation":"(\\uc0\\u8220{}Strategies for Retaining Employees and Minimizing Turnover,\\uc0\\u8221{} n.d.)","plainCitation":"(“Strategies for Retaining Employees and Minimizing Turnover,” n.d.)","noteIndex":0},"citationItems":[{"id":92,"uris":["http://zotero.org/users/local/mlRB1JqV/items/89RI6KZW"],"uri":["http://zotero.org/users/local/mlRB1JqV/items/89RI6KZW"],"itemData":{"id":92,"type":"webpage","title":"Strategies for Retaining Employees and Minimizing Turnover","URL":"https://hr.blr.com/whitepapers/Staffing-Training/Employee-Turnover/Strategies-for-Retaining-Employees-and-Minimizing-","accessed":{"date-parts":[["2019",3,13]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“Strategies for Retaining Employees and Minimizing Turnover,” n.d.). Due to workplace innovation, inequality of wages occur.

Inequality of wealth or income is linked to the negative outcome, but it does not always work this way. The increase in wages for some group of workers can be beneficial. For instance, if employers increase the wealth of workers who have command over the advanced technology like computer knowledge, information about the advance machines then the outcome would be positive. The average wage among the workers may show inequality, but it does not directly affect the workers with a low wage. Evidence shows that practices based wage increase does not show any impact over the greater wage inequality within the organization ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"6xrUl38v","properties":{"formattedCitation":"(Osterman, 2006)","plainCitation":"(Osterman, 2006)","noteIndex":0},"citationItems":[{"id":94,"uris":["http://zotero.org/users/local/mlRB1JqV/items/V5FR9SUN"],"uri":["http://zotero.org/users/local/mlRB1JqV/items/V5FR9SUN"],"itemData":{"id":94,"type":"article-journal","title":"The Wage Effects of High Performance Work Organization in Manufacturing","container-title":"Industrial and Labor Relations Review","page":"187-204","volume":"59","issue":"2","source":"JSTOR","archive":"JSTOR","abstract":"[An unresolved question about now-widespread innovative work systems such as teams and quality programs is whether they influence wage determination. This study examines that possible association in manufacturing. The author uses data from the 1997 National Establishment Survey that allow examination of how new work systems affected not only employees who were directly involved in them but other workers as well. The key finding is that for core blue-collar manufacturing employees, higher wages were associated with High Performance Work Organization (HPWO) systems. While higher skill levels and computer-based technologies were associated with higher wages, the key mechanism appears to have been productivity gains, independent of skill and technology, that were shared via various across-the-board wage payment systems. HPWO systems appear to have increased managers' wages as well, although through different channels. The author finds no evidence that HPWO-related wage gains led to greater wage inequality among the directly involved employees.]","ISSN":"0019-7939","author":[{"family":"Osterman","given":"Paul"}],"issued":{"date-parts":[["2006"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Osterman, 2006).

The practice of self-managed teams has a link with the higher reduction of employment and practice like rotational job leads to the fewer reductions of employment. For instance, evidence shows that self-management work team is more productive and can develop a creative management tool for the organization. It makes them multi-tasker, so they often think out of the box which can be progressive for the organizations. It enables workers to do the task like workflow scheduling, technical tasks, and management responsibilities. They serve as the building block for any firm; therefore, results in higher reductions in employment ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"BOhf6dUn","properties":{"formattedCitation":"(Elmuti, 1997)","plainCitation":"(Elmuti, 1997)","noteIndex":0},"citationItems":[{"id":95,"uris":["http://zotero.org/users/local/mlRB1JqV/items/GEVCGQFB"],"uri":["http://zotero.org/users/local/mlRB1JqV/items/GEVCGQFB"],"itemData":{"id":95,"type":"article-journal","title":"Self‐managed work teams approach: creative management tool or a fad?","container-title":"Management Decision","page":"233-239","volume":"35","issue":"3","source":"emeraldinsight.com (Atypon)","DOI":"10.1108/00251749710169440","ISSN":"0025-1747","shortTitle":"Self‐managed work teams approach","journalAbbreviation":"Management Decision","author":[{"family":"Elmuti","given":"Dean"}],"issued":{"date-parts":[["1997",4,1]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Elmuti, 1997). On the other hand, job rotation does not increase the skills of the workers. They rely on the same traditional tasks or the task in which they are already specialized. Due to the limited skills, they may result in fewer reduction of employment.

Conclusion:

The evidence concluded that with the increase in competition, organizational changes occurred. The organizations are introducing HPW practices to improve the workforce. The HPW practices bring three major changes. Firstly, the change in the wage rate, employers increase the wages of specific workers which are beneficial for the organization. It leads to the inequality of wages; still, it does not have a greater impact over the workers with low wage and organization. Secondly, self-managed teamwork is productive not only for the organization but for the workers as well. These workers may result in greater reduction of employment rather than the worker with limited skills and workplace practices. The overall impacts of workplace practices are positive for organizational innovation.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Elmuti, D. (1997). Self‐managed work teams approach: creative management tool or a fad? Management Decision, 35(3), 233–239. https://doi.org/10.1108/00251749710169440

Osterman, P. (2006). The Wage Effects of High Performance Work Organization in Manufacturing. Industrial and Labor Relations Review, 59(2), 187–204.

Strategies for Retaining Employees and Minimizing Turnover. (n.d.). Retrieved March 13, 2019, from https://hr.blr.com/whitepapers/Staffing-Training/Employee-Turnover/Strategies-for-Retaining-Employees-and-Minimizing-

Subject: Economics

Pages: 3 Words: 900

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Economics theories are constantly changing with the passage of time due to environmental changes. There are different economists who are having different reviews on economics. Keynesian emphasised on the government policies that they need to be changed to increase the chances of employment. His theory dominated in economic policymaking in the early postwar period. However, due to some troubles and slow productivity economists have to search for the new solutions. Some of the new theories which emerged include Monetarism, Rational expectations and Supply-side economics. These theories were debated and tested before they were accepted by economists. Some economists modified these theories, and some rejected these theories because they have their own point of view on changes in the economy.

Irving Fisher(1867-1947) is one of the most successful economists of the United States. He used statistical techniques and provided the basis for recent theoretical work in economics. He was not only known as the economist but also as a stratification, inventor and progressive social campaigner. Irving was described as the greatest economist in the United States by another successful economist of 20th century Joseph Schumpeter. He created many economic theories which were criticized by many other economists but later they understand that Irving theories are essential for the current economic system. Irvin theories include Utility theory, Interest and capital theory, Monetary economics and debt-deflation (Fisher & Father, 2014).

Thomas Malthus(1766-1834) was a classical economist from England. He predicted that 19th-century society would face an increase in demand for food supply which will cause some serious problems for mankind. He also questioned the automatic tendency of a market economy to produce full employment and blamed that unemployment is due to the tendency of the economy to limit its spending by saving too much (Hollander, 1997).

John Stuart Mill(1806-1873) who was known as the greatest economists of the classical school from England. He was a British philosopher and political economist. John denied a belief that the existing supply of income could not change by society. He was known for his economic philosophy which was free markets. John promoted economic democracy instead of capitalism. According to him, economic development is a function of land, labour and capital (Hollander, 1985).

From the above three economists, Fisher Irving was the greatest economist in the history of united states because his theories were more effective for economics. His theory of interest and capital was best remembered in economics. Fisher's research into the basic theory of interest rates did not meet the current social issues, but his monetary economics meet the current social issues of that time when he established those theories. His theories are better than John and Thomas because he didn’t focus on a single factor which was affecting the economy. Fisher brought new ideas and theories which were according to the current issues of that time when he invented those theories (Fisher & Father, 2014).

Thomas focused more on employment because he thought that unemployment is the only reason for the decrease in the economy and John on the other side focused on economic democracy. However, Fisher sorts out all the factors which were responsible for the decline in the economy and created theories to meet the current social challenges for the economy. He does not only concerned about the economics but also was concerned about practical social issues which were reasons for the economic problems (Fisher & Father, 2014).

Fisher believed that investors and savers were afflicted in varying degrees by money illusions. From his point of view, changes in the level of prices won't affect employment or production. He created schemes to stabilize the price level of the dollar. According to him, index numbers also play an essential role in his monetary theory. Fisher also denied capital as an asset that helps in producing a flow of income on time. He created a separation theorem which explains that the main objective of an organization is to maximize its present values (Fisher & Father, 2014).

Fisher thought that a firm could make the investment decision and it will help them in maximizing its present values. Fisher emphasized on the social issues which were reasons for the low economy (Fisher & Father, 2014). He wrote about the dangers which were caused by alcohol and emphasized more on the importance of physical activities and proper diet. Fisher created a significant mark in the field of economics and his theories are still considered as the best theories of economics in the United States. Overall Fisher contributed a lot in the field of economics and wrote several volumes on a theory of capital.

References

Fisher, I., & Father, M. (2014). Irving Fisher. UTET.

Hollander, S. (1997). The Economics of Thomas Robert Malthus (Vol. 4). University of Toronto Press.

Hollander, S. (1985). The Economics of John Stuart Mill (Vol. 2). Toronto: University of Toronto Press.

Subject: Economics

Pages: 3 Words: 900

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Discrimination against women and minority in the labor market

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Introduction

Women have made significant gained in the labor market in the past century. Globally, women participation rates have realized a positive increase since 1980s by almost 2% to attained an estimated rate of 52% participation in the labor industry. Research has established that minority participation rates have also increased to 60% in 2012 CITATION Dur10 \l 1033 (Duraisamy & Duraisamy, 2010). It means that the labor industry has opened itself and both female and minority are treated fairly when seeking for employment opportunities. Among the Organization of Economic Cooperation Development (OECD) nations narrowed down from 23$% to 12% from 1990s to 2012 have been realized. However, despite improvement, there is still a huge gender gap in the labor force. According to Duraisamy and Duraisamy (2010) several countries especially from G20 have not fully adopted a system to have an inclusive workforce.

There is a wealth of information regarding occupation and segregation in the United States and other developed countries. In European Union, the segregation is measured based on IP Index and a study indicates that the discrimination against gender and race is still high at 23.4% CITATION Hir15 \l 1033 (Hirata & Soares, 2015). This continues in other countries as well especially in Western hemisphere and Middle East. A study observed that gender and minority inclusion in the force in Canada has increased by 7% a clear indication of changes, which have occurred in the labor industry in the last decades CITATION and17 \l 1033 (Clark & Drinkwater, 2017). The persistent disadvantage faced by women is due to cultural aspects and this still common in Middle East and some countries from developing countries. In the United States, lots of gains have been made, and the labor market has been streamlined to become inclusive. Research has established that women and minority have made significant gains and there are laws, which require organizations to provide job opportunities without showing any discrimination CITATION Dur10 \l 1033 (Duraisamy & Duraisamy, 2010). Compared to early 1960s and beyond, a lot of changes have been realized and a lot is still expected within the next decades. But the challenges women and other minority still facing is low wages and working condition. However, this paper provides analysis of the discrimination against women and minority in the labor market. It focuses on the labor laws and the gains, which the country has realized since the enactment of the first labor law. It is also review the economic gains and some of the challenges, which women still face in the labor market.

Discrimination against gender and race has a long historical aspect in the United States. In the early 1960s, women were not allowed to work and the African Americans could only get odd jobs with low wages in the country. Women who were in the labor market were being paid less compared to male counterparts and therefore, the issue of discrimination against gender and race has existed for decades. It took the intervention of Civil Rights activists and other leaders to push for the equal employment and equal pay in the labor industry. The campaigns and movements lend to the formation of equal employment opportunity to address gender and racial discrimination. The Equal employment commission was formed in 1967, to enforce the law against racial and gender discrimination. Through the formation of the commission several acts were implemented by the commission such as equal pay act for all employees, pregnancy and disability act to protect pregnant women against discrimination at workplace. The employment act was also established and implemented to ensure that a company employs people without discriminating anybody based on either gender or race. The law specified the number of people a company is required to employ based on racial and gender. According to Clark and Drinkwater (2017), the labor and employment act of 1967 prohibits dominant of one race or one gender. This was the beginning of the reform on the labor market through introduction of all incisive laws to protect employees and job applicants against discrimination. Despite the implementation of the different laws against gender and racial discrimination in the mid 1967, the problem still exists and the rate of racial discrimination is still high in the United States. The racial and gender discrimination at work place related to poor working condition, low wages to minority and women and long hours without enough pay. These conditions continue to hurt the achievement, which have been attained and therefore, a proper and effective method must be established to address the working condition.

Factors which still drive gender disparity in the labor market can be categorized into three different forces which are interconnected. These factors are productivity, discrimination and preferences and therefore, it is important to solve these issues for the women and minority to gain in the labor market. Women and minorities are still being paid low wages by several companies CITATION and17 \l 1033 (Clark & Drinkwater, 2017). The Trade and Labor organization have reported that several companies in the United States do not offer equal pay for equal work despite the labor laws, which require organization to practice equal treatment of all employees. This is a clear indication that discrimination against gender and race still exist in several workplaces. It has also been established that majority of women do not get equal pay with white counterparts and African Americans are also being paid low wages. Several corporations have been accused of practicing open discrimination of African Americans and therefore, offer low wages and poor working conditions CITATION and17 \l 1033 (Clark & Drinkwater, 2017). Coca Cola, Bank of American, General Electric among others are some of the corporations, which have been accused of not following the labor law. In 1993, the Bank of America was accused of open discrimination of African Americans and in 2015, Coco Cola was also accused of offering poor working condition and low wages for African Americans and therefore, there are still several cases of discrimination based on gender and race at workplace.

Due to discrimination in the labor market, there are huge wage gap among races in the labor market. A study has established that African Americans are paid low compared to Whites, Asians and other races. This affects mostly African Americans working in the informal sectors. The wage gap exist is almost 15% according to a study conducted by Trade and Labor organization CITATION Yea16 \l 1033 (Yeandle, Stiell, & Buckner, 2016). This indicates an extent, which discrimination still exists in the labor industry. Most African Americas working in the industrial sectors whether agricultural, manufacturing, and processing the rate which these companies pay African Americans and other minority is different and majority of them are usually being underpaid. This gap is likely to continue unless the federal government deploys strict measurements which could help in solving the problem. It is therefore, important to establish a system which can help reducing the wage gap and discrimination against race and gender.

A study by Hirata and Soares (2015) has established that market based competition could be the solution to the labor market discrimination against gender and race. Discrimination in the labor market cannot exist because labor market is very competitive and therefore, it requires skill and experience to meet the set core market targets. With competitive market, employers are forced to hire based on production, skills and experience of employees and this could reduce the discrimination rate in the labor market almost by 20% CITATION Yea16 \l 1033 (Yeandle, Stiell, & Buckner, 2016). Competitive market forces employers to base their selection on quality of employees. Productive employees are more likely to get high chances of access to job opportunities. A study indicates that discrimination against race and gender has reduced significantly in the white collar jobs since the production is based on skills and experience. The wage gap is very low and the labor law is strictly observed and this has helped to reduce the gender and racial discrimination in the labor market. Attempts have been made to study the correlation between gender and racial discrimination in the labor force and competitive market has established that there is a direct link. It means that the competitive market affect the discrimination based on gender and race. It means that high competitive market reduces the discrimination rate against race and gender.

Competitive market could also reduce the low wages related to discrimination against race and gender. Hirata and Soares (2015) pointed that a company structure controls how a firm manages its wages and therefore, it provide mechanism of realignment of the structure, which are used to set wages for employees. Competitive market ensures that a company is structured to focus on its productivity to compete with other competitors in the market. With efficient market competition the rate of rate of discrimination would be low and the people companies would be able to employ employees based on their skills and experience and therefore, it is important to ensure that competitive market is build to help reducing discrimination in the market

However, there are several anti discrimination laws, which have been enactment since 1960s to help addressing discrimination against race and gender. The first enactment was done in 1964, the Civil Rights Act, which prohibited any kind of discrimination against race and gender CITATION Gle15 \l 1033 (Cain, 2015). The Title VII and Title II of the Civil Rights Act of 1964 is an important law which was enacted to help addressing the problem of racial discrimination in the country and since then it has helped in achieving a lot of gains in the labor market. Though a lot still needed to be done, anti-discrimination laws have helped in solving several conditions and therefore, these laws are the cornerstone to the strong labor market, which exist in the United States. Other laws are Equal Pay Act established to set payment standard in the labor market CITATION Win14 \l 1033 (Winter-Ebmer & Weichselbaumer, 2014). This was done to make sure that there is discrimination against race or gender when it comes to payment of employees. People with the same skills and working under similar working condition must be paid the same wages as required by the law. It is therefore, one of the essential laws, which were enacted to streamline the labor industry in the United States. Protection against harassment is also one of the laws established after the enactment of the Civil Rights Act to ensure that nobody can face harassment or any kind of humiliation at workplace. A study has established that the United States Congress has also enacted Age Discrimination Act of 1967, Disability Law in the United States, United States, discrimination case law and the LGBT law to protect the people against any kind of discrimination in the labor market CITATION Bøg11 \l 1033 (Bøg & Kranendonk, 2011). Despite the existence of discrimination against gender, and race these laws have a played a significant role in changing the labor market to ensure that employees are well protected.

It is still important to ensure that these past injustices are addressed the stability of the country. In the last few months, there have been cases of racial related violence across major cities. The violence is as a result of feeling left out and discrimination acts. And therefore, it is important to address the discrimination against minority as well as the discrimination of people of color in the job market. Without addressing the major aspect of discrimination against gender and race in the society, the discrimination against race and gender at workplace would exist and therefore, the first action to solve the problem of discrimination in the labor market would to solve the general concept of racial and gender discrimination in the society. This therefore, would require the federal and state government to work together to establish laws, which can keep in check the employment contracts and methods being used for recruitment and employment. Women must be given equal opportunity with men at top government employment and in corporations CITATION Hir15 \l 1033 (Hirata & Soares, 2015). This would be the best ideal, which is likely to make other companies to follow the trend and offer women top job positions. The idea of gender and racial discrimination should be reviewed to ensure that it is addressed right from the community level to the top. Without addressing the problem effectively from bottom to the top, the enactment of labors to ensure there is equitable and equal opportunities for all employments despite an individual gender or race.

In conclusion, gender and racial in the labor market has been in existed for several years. Studies have established that the rate of racial discrimination is still high despite the reforms and laws, which have been enactment in the labor market. The racial and gender discrimination is common among minorities working in the informal sectors compared to people working in other areas. The types of discrimination are related to low wages, long hours without enough pay and poor working condition in the industrial sector. It is also been established that the problem can be solved through the use of policy and laws but the most effective method is the building of cohesion from the community level. It is important to ensure that laws are enactment and properly followed by all stakeholders in the industry CITATION Win14 \l 1033 (Winter-Ebmer & Weichselbaumer, 2014). This requires the partnership and collaboration of the government with all stakeholders to address the problem. The federal government and state must establish a monitoring and evaluation team to check the implementation of the law. This would make sure that everyone follows the law and discrimination against race and gender related issues are addressed effectively. It is also established that the beginning of the reform in the labor market, started when the Civil Right Act was established. It is because it opens other avenues for the enactment of laws to protect employees and other minorities in the country.

Bibliography

BIBLIOGRAPHY Bøg, M., & Kranendonk, E. 2011. Labor market discrimination of minorities? yes, but not in job offers. Munich Personal RePEc Archive , 2-35.

Cain, G. G. (2015). Gender and the labor market: What have we learned from field and. The economics of discrimination , 2-35.

Clark, K., & Drinkwater, S. 2017. Ethnic minorities in the labour market Dynamics and diversity. Manchester: Joseph Rowntree Foundation by The Policy Press.

Duraisamy, M., & Duraisamy, P. 2010. Occupational Segregation, Wage and Job Discrimination against Women across Social Groups in the Indian Labor Market: 1983-2010. 2-35.

Hirata, G., & Soares, R. 2015. Competition and the Racial Wage Gap: Testing Becker’s Model of Employer Discrimination. http://conference.iza.org/conference_files/worldb2015/soares_r1995.pdf , 2-35.

Winter-Ebmer, R., & Weichselbaumer, D. 2014. The Effects of Competition and Equal Treatment Laws on Gender Wage Differentials. https://www.jstor.org/stable/4502198?seq=1#metadata_info_tab_contents , 2-14.

Yeandle, S., Stiell, B., & Buckner, L. 2016. Ethnic Minority Women and Access to the Labour Market. The GELLM Partnership and Research Programme , 2-15.

Subject: Economics

Pages: 8 Words: 2400

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Expanding rural Women’s access to credit facilities through the use of mobile banking in Uganda

Over the years, rural women have not been having easy access to credit facilities. Majority of women do not have bank accounts and other needed credit references to be able to obtain loans from any financial institution. Financial institutions are also not available in most rural communities in Uganda. This delinked the community from access to financial institutions and therefore, the establishment of mobile banking in rural setup would increase the access to loans among women. Lack of financial institutions and required credit references have made getting access to credit facilities to be difficult for women. This has forced most women in rural setup to depend on their spouses. However, women make up 40% of the global workforce CITATION Wor17 \p 10 \l 1033 ( World Bank 10). Several sectors which are critical for the economic growth in some of the poorest countries rely on women for sustainability. It is estimated that 30-40% of small and medium enterprises (SME) are owned by women and therefore, women play a critical role in the growth of developing countries like Kenya CITATION Eno14 \p 8 \l 1033 (Mugabi 8). These businesses are in financial needs of an estimated $5billion a year. It is a big barrier to the economic growth of Uganda and therefore, establishing mobile banking would facilitate credit accessibility to women in a rural setup.

Although Uganda government has taken some initiatives to facilitate accessibilities to credit facilities for women in a rural setup, the gap is still huge. A survey by the World Bank indicates that only 5% of women in rural setup are access to loans for business CITATION Joh17 \p 20 \l 1033 (Isaac 20). Nearly 90% of Ugandan rural women do not have access to credit and therefore, cannot start enterprises and run a business efficiently CITATION Joh17 \p 14 \l 1033 (Isaac 14). Studies have also indicated that rural women run a small business and most of these businesses are not sustainable because of lack of enough capital for business expansion. And therefore, the profits from their business are only meant for domestic needs, which give them the shortest lifespan in business. The lack of credit facilities reduces women to beggars and in most cases, their business is controlled by their spouses, in which they can be sent away anytime without proper explanation. It is worth stated that these have made many women live in poverty and it could be the result of high poverty index in Uganda. First, there is a lack of enough financial institutions in the rural setup and this barriers woman from getting loans to start and expand their business CITATION Fia16 \p 15 \l 1033 (Fiaklou, Ntiamoah and Kwamega 15). Most women do not have banks accounts and collateral which are required by nearly all banks for one to access credit and therefore, it is barriers for women accessibility to credit facilities. However, with mobile banking, most women can access loans from a financial institution and make repayment without much difficulty. This paper, therefore, looks into how women accessibility to credit can be improved through mobile banking and some of the barriers which still exist.

Literature review

The literature review was completed using several journals and peer-reviewed obtained credible source. The review provides details impact of lack of credit facilities for rural women in business. Fiaklou, Ntiamoah, and Kwame (25) stated that women are the strength of many families in most developing countries. Research indicates that women are the breadwinner of almost 45% of families in rural setup CITATION Fia16 \p 21 \l 1033 (Fiaklou, Ntiamoah and Kwamega 21). And therefore, lack of business activities among women affect the entire community. According to the World Bank Group report (32), a society where women are not engaged the poverty index is also high. In Uganda, women are involved in small business for daily sustainability and therefore, could be able to sustain their families. However, lack of access to credit facilities among women increases the poverty index, violence against women and also promotes cultural practices, which discriminate women. As stated by Isaac (28) financial independent cannot be compelled to admit discriminating cultural practices. Providing access to credit facilities offer women with opportunities make both end meet and therefore, they can be able to stand on their own.

Studies have established that the rate of poverty is high in most rural areas and this could be because most women in rural setup do not have any business activities CITATION She16 \p 26 \l 1033 (Allam 26). According to the World Bank, the poverty index in Uganda among the women is 19.8% as per 2016 survey CITATION Wor17 \p 12 \l 1033 ( World Bank 12). The poverty is lack of money to meet most their basic needs and in rural Uganda, 65% of women cannot meet their basic needs. It means that almost 65% of women in rural Uganda live in poverty. In northern Uganda, women farming banana and vegetables are exploited by brokers who purchase their produce at a cheaper price CITATION Eno14 \p 34 \l 1033 (Mugabi 34). Several studies have also indicated that lack of access to credit facilities do not allow women to access markets and sell their produce especially women farmers. This is because most of these women do have enough money to take their produce to the market and also to market their products for potential customers. It makes women in business to remain exploited and sell their produce at a cheaper so they can get money to purchase other products, which are needed by their families. According to Bitature (21), the effect of poor access to credit is also related to cultural practices which are very discriminatory against women in society. Because women in a rural community in Uganda do not have finances to establish business and run established enterprises, their male counterpart could easily force practices which the majority of women is against. And therefore, this could be the reason why female genital is still practiced in several parts of northern Uganda where the poverty index is still high compared to other regions in Uganda. It is, therefore, vivid that lack of access to credit facilities affects women negatively and therefore, it would be important to provide a permanent solution to the problem through the use of mobile banking.

A study has established that mobile banking has increased access to banking services in a rural community in Kenya. According to the World Bank, 85% of Kenya living in rural communities have access to banking services through mobile baking CITATION Wor18 \p 26 \l 1033 (World Bank Group 26). This can be implemented in Uganda to provide easy access to credit facilities to rural communities’ women so that they can be able to start their business and become financially independent. Research has also indicated that approximately 75% of women in rural communities in Uganda have mobile phones CITATION Sin18 \p 21 \l 1033 (Hatik 21). The same study also indicates that most of these women are engaged in small scale business. It would be appropriate and easy to facilitate access to credit facilities through the use of mobile phones.

Experimental Design

The focus of this study is to work with rural women, financial institutions and telecommunication to developed credit access platform for women from the rural setup. However, our experimental expertise is that we have worked with women to set up a credit access platform through collaboration with banks. The main focus is to expand access to credit facilities and this could only be obtained through money transfer platform to women living in some of the remote communities in Uganda. In order to make it successful, the financial institutions would partner with telecom to facilitate the transfer of finances to rural women in terms of the loan. Our experimental involvement would include organizing women into groups and also providing assistance on registration for the mobile loan. A closer reviewed at some of the literature from Kenya indicates that people access loans through mobile and repay through the same platform. This can be implemented in rural communities in Uganda so that the majority of women can have access to credits. Eligible women for credit would be required to register and get some formal credit on the business concept so that they can become a good business manager.

Since the credit rate of most people in rural setup is low, women can get a credit or loan from $100 based on what an individual has saved with the bank. A loan of $ 100 would be able to facilitate women in starting a small business to take care of their families. From the loan's profits, these women would be able to repay their loan and after completion, they can reapply for more loans. This can be done repeatedly in the entire villages to ensure that all women are having access to credit facilities like loans and establish businesses as well. We expected a significant decline in the poverty index in some of the rural communities. After completion of the implementation of the project, we expect to bridge the gap in earnings among men and women in society. There is also going to be a significant improvement in the living standard of people in most rural communities in Uganda.

Potential Problem

The main problem is a lack of data related to women accessibility to credits from Uganda. The data discussing women and finances are major focuses on women in enterprise, which are mostly middle and higher income women. Majority of these women live in urban setup and therefore, having efficient data to engage the effectiveness of mobile banking accessibility to credit could be a challenge. It is also evident that most women move to urban setup when their businesses have started generating a lot of profit. The main problem with experiment design could result from the difficulty to conduct evaluation or monitoring efficiently. For the project to succeeds, it would be required for a major institution like the World Bank to partner with any local bank or nongovernmental organization for it to be successful. And this could take a long time because of several procedures which are must be involved in such a project like this one. There are also other issues, which might occur such as lack of corporation between telecom and financial institutions and lack of collateral and poor credit rating among people from rural communities. These issues might derail the proposed project from achieving its objectives.

Conclusion

A proper review of the literature on mobile banking and its impact on women, facilitating easy access to loans would help women in rural setup to tap their untapped potential. It is more likely for women to succeed in business when accesses to finances are made faster and easier. It is therefore, evident that having mobile banking as a platform for the provision of loan would change the lives of many women in the society. It is also expected to give women the power to control their destiny and therefore it is of great interest to ensure that mobile banking is successful in rural communities in Uganda. Besides empowering women, it is likely the market share for banks and financial institutions and this is likely to increase the profit of most financial institution in Uganda and the economy of the country due to high revenue to be realized by financial institutions.

References

BIBLIOGRAPHY World Bank. "Uganda Poverty Assessment 2016: Fact Sheet." http://www.worldbank.org/en/country/uganda/brief/uganda-poverty-assessment-2016-fact-sheet (2017): 2-18.

Allam, Shereen. "Solutions to Increase Access to Finance for Women-Owned Businesses in the Middle East and North Africa ." https://www.ifc.org/wps/wcm/connect/156534804f860a72be27fe0098cb14b9/12316-vv-sme-report.pdf?MOD=AJPERES (2016): 2-45.

Bitature, Patrick. "Ugandan women among the best entrepreneurs but lack finances." (2018): 2-15.

Fiaklou, Diana, Brako Evans Ntiamoah and Michael Kwamega. "The effects of bank credit facilities on the growth of businesses." International Journal of Finance And Quantitative Methods 37.2 (2016): 2-28.

Hatik, Sinan. "Financial Inclusion Through Mobile Technology: Closing the Agricultural Gender Gap." https://sdg.iisd.org/commentary/generation-2030/financial-inclusion-through-mobile-technology-closing-the-agricultural-gender-gap/ (2018): 2-38.

Isaac, John. "Expanding Women’s Access to Financial Services." http://projects-beta.worldbank.org/en/results/2013/04/01/banking-on-women-extending-womens-access-to-financial-services (2017): 2-38.

Mugabi, Enock. "WOMEN'S ENTREPRENEURSHIP DEVELOPMENT IN UGANDA." Insights and Recommendations (2014): 2-38.

World Bank Group. "Poverty Assessment Report 2016." Farms, cities and good fortune: assessing poverty reduction in Uganda (2018): 2-35.

Subject: Economics

Pages: 6 Words: 1800

Writing Assignment

[Name of the Writer]

[Name of Instructor]

[Subject]

[Date]

Writing Assignment

Unemployment:

Thousands of people in the labor force become unemployed because of the numbers of factors like recession and technology advancement. Unemployment is not just a term it is much more complex than being unemployed or employed. The reasons or factors of four individuals will indicate this fact in detail. There are different types of unemployment like frictional, seasonal, cyclical and structural unemployment. These types are categorized on the basis of factors causing them. For instance, Marcelle is facing cyclical unemployment as the economy is in recession. Cyclical unemployment is the type which is caused due to the downturns in the business cycle. Marcelle is laid off as production of the factory was decreasing due to which demand for labor also decreases. Recession causes an increase in the unemployment rate as labor demand decreases due to inflation. She can avail the unemployment benefits if she qualifies for unemployment by proving her issue. She has to prove that she is willing to work and actively finding a new job. In addition, the reason for being unemployed is that she was laid off which is not her fault.

Dominic is facing unemployment as he decided himself to quit his job to move to a new place. However, it is not cleared that how much he is willing to find a new job. He can qualify for unemployment benefits if he proves that he has to quit his job just because he has to settle in New York and he is looking for a new job there. In this perspective, he is facing frictional unemployment which is caused when an individual has to quit a job for moving to a new place and is willing to work. Besides, if Dominic pulled himself from the workforce by not looking for a new job then he cannot be qualified as unemployed ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"Pj7Ak1lk","properties":{"formattedCitation":"({\\i{}EconPort - Types of Unemployment})","plainCitation":"(EconPort - Types of Unemployment)","noteIndex":0},"citationItems":[{"id":735,"uris":["http://zotero.org/users/local/rVaVAHaF/items/ZA6BE26E"],"uri":["http://zotero.org/users/local/rVaVAHaF/items/ZA6BE26E"],"itemData":{"id":735,"type":"webpage","title":"EconPort - Types of Unemployment","URL":"http://www.econport.org/content/handbook/Unemployment/Types.html","accessed":{"date-parts":[["2019",7,19]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (EconPort - Types of Unemployment).

Francine is facing seasonal unemployment. It is the type of unemployment which is caused by the decrease in the demand for labor at certain times of the year. She was working in the ski resort during winter. In summer tourist does not come to ski resort due to which resort is closed. She cannot qualify for unemployment benefits because she is out of the labor force on her will. She does not want to work and decided to rejoin the ski resort next winter. When an individual is not willing to find a job he considered as a discouraged worker. Discouraged workers are those workers who stop looking for a new job and therefore does not consider under labor force. However, she is waiting till winter for a job that makes her neither employed nor unemployed. In addition, she can avail unemployment benefits if she starts seeking a job in summer and proves that unemployment is not her fault.

Beauvoir had a job and he was working as a full-time secretary. He lost his job due to the lack of computer knowledge; therefore, he is facing structural unemployment. Structural unemployment occurs when skilled labors are replaced due to the demand for other skills. Technology advancement is a crucial factor causing structural employment. An individual who does not acquire skills for advance technology often faces unemployment. In the case of Beauvoir, he was replaced by the workers who can work on computers. He can get unemployment benefits because people who face structural unemployment also face difficulty in finding a new job. Therefore, he has an authentic reason to be quality as unemployed as he is willing to work but employers are demanding computer knowledge to qualify. In the long run, he can learn computer skills to find an appropriate job.

Through analyzing cases of four individual it can be concluded that various factors result in unemployment. However, to avail unemployment benefits, it is necessary that individual is willing to work or actively finding a job otherwise he will be considered as a discourage worker who cannot get unemployment benefits ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"McceyEMn","properties":{"formattedCitation":"(\\uc0\\u8220{}Types of Unemployment and the Natural Rate of Unemployment\\uc0\\u8221{})","plainCitation":"(“Types of Unemployment and the Natural Rate of Unemployment”)","noteIndex":0},"citationItems":[{"id":739,"uris":["http://zotero.org/users/local/rVaVAHaF/items/TSW92FY3"],"uri":["http://zotero.org/users/local/rVaVAHaF/items/TSW92FY3"],"itemData":{"id":739,"type":"webpage","title":"Types of unemployment and the natural rate of unemployment","container-title":"Khan Academy","abstract":"Practice what you have learned about frictional, structural, and cyclical unemployment and the natural rate of unemployment in this exercise.","URL":"https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/unemployment/e/types-of-unemployment-and-the-natural-rate-of-unemployment","language":"en","accessed":{"date-parts":[["2019",7,19]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“Types of Unemployment and the Natural Rate of Unemployment”).

People Face Trade-off:

In the everyday task, individuals face different situation in which they have to make the decision to choose the best option. The decision making lies on the debate that which option is more beneficial. With the help of the principles of economics, individuals can easily make a decision. The two economic principles include opportunity cost and facing a tradeoff. For my one and last semester for graduation, I have to choose among three electives that are personal finance, public speaking and business writing. Although all three electives are crucial and can help me for making my carrier however I would like to trade-off for personal finance because its opportunity cost is less than the business writing and public speaking. In the future, business-related knowledge will be beneficial to establish own business therefore by choosing personal finance I can apply my knowledge in new business. Public speaking and business writing will bound me for specific professions while personal finance will provide more opportunities.

I believe that by selecting personal finance over business writing and public speaking I can ensure my bright future. In other words, the opportunity cost of the personal-finance will be the lack of participation in writing and public speaking however its benefits are much more than the loses. The trade-off is one of the most crucial concepts in economics because it develops opportunity cost ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"o7m4X3YP","properties":{"formattedCitation":"(Campbell and Kelly)","plainCitation":"(Campbell and Kelly)","noteIndex":0},"citationItems":[{"id":734,"uris":["http://zotero.org/users/local/rVaVAHaF/items/2H2LZNCL"],"uri":["http://zotero.org/users/local/rVaVAHaF/items/2H2LZNCL"],"itemData":{"id":734,"type":"article-journal","title":"Trade-off Theory","container-title":"The American Economic Review","page":"422-426","volume":"84","issue":"2","source":"JSTOR","ISSN":"0002-8282","author":[{"family":"Campbell","given":"Donald E."},{"family":"Kelly","given":"Jerry S."}],"issued":{"date-parts":[["1994"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Campbell and Kelly). By analyzing opportunity cost individual can easily decide which decision is better or have more benefits as I realized that by choosing personal finance I can get more benefits in the form of opportunities, knowledge, and skills.

Work Cited

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Campbell, Donald E., and Jerry S. Kelly. “Trade-off Theory.” The American Economic Review, vol. 84, no. 2, 1994, pp. 422–26.

EconPort - Types of Unemployment. http://www.econport.org/content/handbook/Unemployment/Types.html. Accessed 19 July 2019.

“Types of Unemployment and the Natural Rate of Unemployment.” Khan Academy, https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/economic-iondicators-and-the-business-cycle/unemployment/e/types-of-unemployment-and-the-natural-rate-of-unemployment. Accessed 19 July 2019.

Subject: Economics

Pages: 3 Words: 900

Writing Assignment

Student’s Name

Instructor

Course

Date

401(k) Retirement System

Why is there a market failure in the 401(k) market?

The major market indication of 401(k) market failure is the declining median amount in a 401(k) savings account. Based on an evaluation done by Employee Benefit Research Institute, approximately 40% of employees have less than $10,000 in their 401(k) savings account. Also, another factor contributing to this market failure is that the 401(k) system does not cover all employees. More than 35% of employees lack access to a 401(k) plan and even employees with this option resolve to contribute negligible amounts and not to participate at all (Holland).

As indicated by current market researches and surveys, most Americans, both employers and employees do not have a clue about the fees associated with their 401(k)s and the market dynamics which impact their retirement plans. Insufficient knowledge by employers is factor associated to the market failure. Bosses give 401(k)s onto their employees since they trust that providing retirement plans help them pull in and uphold specialized workers. Conversely, since workers have a small amount of motivation to guarantee that they give their representatives the finest plan of retirement, they search for reducing their expenditure with regards to giving out those advantages using many techniques (Holland). When secretaries shop for retirement plans, they normally provide workers with countless editions of similar plan, editions with equivalent investment alternatives but lower or higher cost rates for such options based upon what amount employers wish to forfeit, annually, to secretariats in favor of plan management. Bosses are more and more selecting plans that have small or zero employer expenses but elevated expense proportions, relaying the expenses towards their workers (Hilton 10).

Scarcity of knowledge by employees is another reason for 401 (k)s market failures. The majority employees who take part in 401(k)s plan have very little know-how about the charges related to their plan of retirement (Hilton 9). Practically, savers often choose imprudently: most 401(k) entrepreneurs trust that huge fees bring higher profits, when indeed the reverse is factual fee index investments typically have huger net profits than elevated-fee dynamically controlled ones. Such absence of information about the charges of retirements plan hurt them diversely, too: it permits other competitors in 401(k) framework to relay the expenses of this towards employees, making them have massive debts.

Describe and detail all of the fees/costs associated with a 401(k).

401(k) system is associated with numerous costs. As indicated by Robert Hilton’s findings, 65% accountholders of 401 (k) were not aware that they paid a fee, and also 83%, had no primary know-how regarding the numerous fees and costs that everybody in 401(k) incurs (4). 401(k) program costs and expenses in general are classified into four groups: The first lot includes administrative costs (Hilton 4). According to Hilton, these are fund costs for recordkeeping, providing reports, transaction processing, guaranteeing the program adheres to applicable laws, resolving savers’ issues, and offering support services. Administrative costs usually vary from 20% to 40% per year. The second group includes management costs (Hilton 4).These are wages for fund supervisors, investment scientists, and workers in charge of fund’s projects. Asset administration costs typically vary from 50% to 100 yearly. The third group incorporates marketing costs (Gaviria & Martin Web). Such expenses comprise costs of educating investors and prospective investors concerning the investment including brochures, ads, and extra educational material (Hilton 4). Finally, we have trading costs which are expenses that the fund pays when purchasing and vending the bonds that consist of mutual funds’ underlying resources (Hilton 4).

Yearly Savings: $15,000, Inflation Rate: 2%, Rate of Return:(8.15%-.15%=8%), Expense Ratio of Mutual Fund: .15%, Periods: 30 years

Total amount of Retirement assets= p[(1+r)n -(1+g)nr-g]

P= yearly savings

R= rate of return

G = inflation rate

N= number of periods

15000[(1+0.08)30 -(1+0.02)300.08-0.02]

= $2,062,824

The calculation indicates the total amount of retirement assets after 30 years. The calculation indicates that the investment total that this individual will get after 30 years of investing into the mutual fund is $2,062,824. The fees charged included an Expense Ratio of Mutual Fund which is somehow low. The inflation rate of 2 percent is used as a discounting factor to ensure that inflation does not consume the retirement savings faster. This means that the person will receive substantial investment after 30 years because lower fees have a small impact on the investment totals (Gustafson).

Yearly Savings: $15,000, Inflation Rate: 2%, Rate of Return: (8.15%-.65%=7.50%) (It is lower than example (a) due to the increased expense ratio), Expense Ratio of Mutual Fund: 65%, Periods: 30 years

Total amount of Retirement assets= p[(1+r)n -(1+g)nr-g]

P= yearly savings

R= rate of return

G = inflation rate

N= number of periods

15000[(1+0.075)30 -(1+0.02)300.075-0.02]

= $1,893,707

As indicated above the total investment which this person will receive after 30 years of investing in the mutual fund is $1,893,707. The fees charged included inflation rate of 2 percent and mutual fund of .65%, which is more than the earlier one. The impact of this increased fee is seen in the total investment received of $1,893,707which is lower compared to $2,062,824 received at .15% Expense Ratio of Mutual Fund. This means that when the expense ratio is higher, the final investment to be received is negatively reduced and an individual receives a small amount of the investment after 30 years and vice versa (VanDerhei 17).

Describe and come up with your own solution to alleviate the problems with 401(k)s.

The weaknesses of 401(k)s can be fixed by introducing a fiduciary standard which applies to all professions and also regulators and legislators need to impose laws for protecting American investors. One way involves improving fiduciary principles of 401 (k) plans, counting cost, options for investment, transparency/integrity along with conflict prevention. By having a fiduciary standard aimed at commoditizing the 401(k) funds and de-linking them from employers will ensure the 401(k) is an open program which is open to anyone whether employed or not and hence diversifying index funds at the lowest possible prices.

Works cited

Finance Formula. "Future Value of Growing Annuity." Financial Formulas (with Calculators), www.financeformulas.net/Future-Value-of-Growing-Annuity.html.

Gaviria, Marcela, and Martin Smith. "The Retirement Gamble". FRONTLINE, 2013, http://www.pbs.org/wgbh/frontline/film/retirement-gamble/.

Gustafson, Bob. "Inflation Impact on Retirement Planning, Retirement Savings." Triton Financial Group, 10 Feb. 2018, tritonfinancialgroup.com/inflation-impact-on-retirement-planning/.

Hilton, Robert. The retirement savings drain: The hidden & excessive costs of 401(k)s, n.d, pp.2-15. Demos.org. http://www.demos.org/sites/default/files/publications/TheRetirementSavingsDrain-Demos_0.pdf

Holland, Kelley. "For Millions, 401(k) Plans Have Fallen Short." CNBC, 24 Mar. 2015, www.cnbc.com/2015/03/20/l-it-the-401k-is-a-failure.html.

VanDerhei, Jack. "Retirement Savings Shortfalls". The Journal Of Retirement, 2015, Institutional Investor Journals, doi:10.3905/jor.2015.2015.1.020.

Subject: Economics

Pages: 3 Words: 900

Writing Assignment #1: State Analysis

[Name of the Writer]

[Name of Instructor]

[Subject]

[Date]

Writing Assignment #1: State Analysis

Part 1: State output, employment, and cost of living

Gross State Product (GSP)

GSP

Gross state domestic product is the aggregate value of all the goods and services produced during the given financial year within the g’

eographical boundaries of any particular state. GSP is also known as state income or SDP, and it is always measured in monetary terms. It helps in telling the economic growth in that particular state.

List of the current level of real annual GSP (in chained dollars) incorporating all the industries

Below is the list provided for all the industries that are contributing to the real annual GSP of Maryland state of United States of America (Bureau of Economic Analysis).

Calculation of 1-year percentage change in GSP from 2017 to 2018 (in chained dollars)

One year percentage in per capita is calculated for 2016-2017 for the state of Maryland (Bureau of Economic Analysis).

GeoFips

GeoName

2016-2017

24000

Maryland

1.7

Discussion

Almost all the industries are in the increasing trend indicating a prosperous economy of Maryland. The Retail trade, information, professional, scientific and technical services, companies’ management, Administration, waste management and remediation services are the industries that are contributing the most the annual GSP of Maryland. There is a 1.7 percent increase in the GST per capita of Maryland for 2017-2018. Industrial growth in Maryland is far better than that of Colorado as the industries there are far better in GST contribution. The reason for this growth is that the workforce has rapidly increased over the past few years due to which production has grown and is keep on increasing (Shin et al., 2015).

Employment

Current labor force

The current labor force of the state of Maryland is 3194248(B) for Dec 2018 period.

Labor force participation rate

Below is the list of labor force participation rate for the whole decade 2008-2018. In 2008, the labor force participation rate was 4.3%. Labor force participation rate jumped to 7 percent following 2008 but again declined in the years after 2015, and it was now 3.9% in 2018.

2008

4.3

2009

7.0

2010

7.7

2011

7.3

2012

7.0

2013

6.6

2014

5.8

2015

5.1

2016

4.4

2017

4.2

2018

3.9

Employment

The number of people employed in the state of Maryland is 3075662(B).

Unemployment

The total number of people who are unemployed in Maryland State is 118586(B).

Unemployment rate

The unemployment rate is 3.7(B) for the state of Maryland of U.S.A.

One year percent change in the unemployment rate and the labor force participation rate

Unemployment rate for 2017-2018 is the difference of 0.3 percent. That means that unemployment has reduced up to 0.3 percent in Maryland. Labor force participation rate for 2017-2018 is declined from 4.2 percent in 2017 to 3.9 percent in Maryland (Historical Unemployment: Bureau of Labor Statistics).

Discussion

Looking at the given condition of employment in Maryland, the current force is rapidly increasing in the last decade. Today, the labor force in Maryland is more than it was in 2008. Due to the increase in the current workforce, employment has also increased as more and more people are getting employed by the organizations due to their skills. Unemployment is continuously declining with a 0.3 percent difference in each year in Maryland. Maryland has far better conditions of employment as compared to other states.

Cost of living

Cost of living

Cost of living is generally interpreted as the cost or expense of maintaining a certain standard in the economy. It also indicates the economic conditions of that state, whether they are good for the living or not. The changes in the cost of living are measured with the help of the value of the living index. This measure is also used to compare the standard of living in different geographical areas.

State comparison in the cost of living

I live in Denver and want to migrate in Baltimore, Maryland as there I am getting a $52,191comparable salary.

Discussion

I have noticed my expenses and price difference between the two cities. I have found that my grocery expenses will be 9, 10, and 15% more in case of groceries, housing, and utilities respectively. While transportation will be 2% and health care 13% less in Baltimore. I have found Denver is more suitable and less expensive as a significant part of salary consist of groceries and utilities which is higher in Baltimore. Baltimore is relatively cheaper with higher income to offer (Sharfstein et al., 2018).

Part 2: State summary

Maryland is a state of the United States of America that is going on a speedy economic growth currently. It has improved so much in the last ten years and is still performing well as compared to other states. Almost all the industries are in the increasing trend indicating a prosperous economy of Maryland. The Retail trade, information, professional, scientific and technical services, companies' management, Administration, waste management and remediation services are the industries that are contributing the most the annual GSP of Maryland. There is a 1.7 percent increase in the GST per capita of Maryland for 2017-2018. Industrial growth in Maryland is far better than that of Colorado as the industries there are far better in GST contribution. The reason for this growth is that the workforce has rapidly increased over the past few years due to which production has grown and is keep on growing (Shin et al., 2015). Looking at the given condition of employment in Maryland, the current force is rapidly increasing in the last decade. Today, the labor force in Maryland is more than it was in 2008. Due to the increase in the current workforce, employment has also increased as more and more people are getting employed by the organizations due to their skills. Unemployment is continuously declining with a 0.3 percent difference in each year in Maryland. Maryland has far better conditions of employment as compared to other states. There is a massive difference in the prices of the cities in Maryland and Colorado. The grocery expenses are 9, 10, and 15% more in case of groceries, housing, and utilities respectively in Maryland. While transportation is 2% and health care 13% less in Baltimore, Maryland. Denver is more suitable and less expensive as a significant part of salary consist of groceries and utilities which is higher in Baltimore. Baltimore is although expensive in some cases, but the high salary compensates for this (Sharfstein et al., 2018).

Works Cited

Bureau of Economic Analysis (BEA): Regional data, GDP and personal income…http://www.bea.gov/iTable/iTable.cfm?reqid=70&step=1&isuri=1&acrdn=1#reqid=70&step=1&isuri=1

"Cost Of Living: How Far Will My Salary Go In Another City? - CNNMoney." CNNMoney. N. p., 2019. Web. 6 Mar. 2019.

Historical Unemployment: Bureau of Labor Statistics (BLS): http://www.bls.gov/lau/home.htm

Mazaroff, Stanley, and Todd Horn. Maryland Employment Law. LexisNexis, 2018.

Sharfstein, Joshua M., Elizabeth A. Stuart, and Joseph Antos. "Global budgets in Maryland: assessing results to date." Jama319.24 (2018): 2475-2476.

Shin, Hyeon-Shic, et al. Measuring the economic contribution of the freight industry to the Maryland economy. No. MD-15-SHA/MSU/3-5. Maryland. State Highway Administration, 2015.

Subject: Economics

Pages: 3 Words: 900

XiomaraAss2

Name

Instructor Name

Course Number

Date

AMAZON (a Monopolistic firm)

Market structure of Amazon.

Amazon is a major online retailer of home goods and cleaning supplies. Amazon’s organizational structure makes it grip over the e commerce operations strongly. It has adopted strategies to operate its activities in various part of the globe. As a leading online retailing business Amazon has diversified its business areas and it has withstand the capabilities of competitors, like Walmart and Google ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"mMSSlrcl","properties":{"formattedCitation":"({\\i{}Amazon.Com})","plainCitation":"(Amazon.Com)","noteIndex":0},"citationItems":[{"id":6,"uris":["http://zotero.org/users/local/LY9XXHSK/items/GBN4T3I8"],"uri":["http://zotero.org/users/local/LY9XXHSK/items/GBN4T3I8"],"itemData":{"id":6,"type":"webpage","title":"Amazon.com: Online Shopping for Electronics, Apparel, Computers, Books, DVDs & more","abstract":"Online shopping from the earth's biggest selection of books, magazines, music, DVDs, videos, electronics, computers, software, apparel & accessories, shoes, jewelry, tools & hardware, housewares, furniture, sporting goods, beauty & personal care, broadband & dsl, gourmet food & just about anything else.","URL":"https://www.amazon.com/","shortTitle":"Amazon.com","language":"en-us","accessed":{"date-parts":[["2019",4,2]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Amazon.Com). It has an organizational design that make sure to strengthen the relation among members and to compete as the best online retail business

It compete the famous stores like Walmart, Bed, Target and Bath. It also competes with DSW, Gap and foot locker as a shoe and clothing retailers. Recently it has purchased the biggest online shoe and diaper store. It is working very successfully in delivering all of its product and it has the most traffic on its website. Last year its sales were six time more than Walmart, Best BAY, Home deposit and Costco. It generated 30 percent of U.S online as well as off line sales growth. IT has diversified products and it also publishes books and design hardware. The most important characteristic of Amazon is that it operates web services of a $12-billion dollar that rents services along with computing powers to firms ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"jTZtRKsq","properties":{"formattedCitation":"(Carnevale)","plainCitation":"(Carnevale)","noteIndex":0},"citationItems":[{"id":5,"uris":["http://zotero.org/users/local/LY9XXHSK/items/8LSR6ABR"],"uri":["http://zotero.org/users/local/LY9XXHSK/items/8LSR6ABR"],"itemData":{"id":5,"type":"article-journal","title":"Questions of Copyright in Google's Image Search: Development in Perfect 10, Inc. v. Amazon. com, Inc.","container-title":"BUJ Sci. & Tech. L.","page":"132","volume":"14","author":[{"family":"Carnevale","given":"Eric"}],"issued":{"date-parts":[["2008"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Carnevale). Amazon has made the market harder for its competitors and now it’s competing against everyone. Thus its market structure is monopolistic.

Characteristic of the market structure of Amazon:

Amazon has launched Diapers.com in 2010 and it is the most tarnished example among its products. Thus it dropped diapers price 30 percent and small retail business are being targeted. It has enough money to compete any form and it has a very strong focus on consumer behaviors by lowering prices and making its self the leading online retail store. It has fixed its targets of calling together of policy making mind in order to shoot out companies that can easily distort market structure ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"15dLJYBC","properties":{"formattedCitation":"(Dirksen et al.)","plainCitation":"(Dirksen et al.)","noteIndex":0},"citationItems":[{"id":2,"uris":["http://zotero.org/users/local/LY9XXHSK/items/GI373FXE"],"uri":["http://zotero.org/users/local/LY9XXHSK/items/GI373FXE"],"itemData":{"id":2,"type":"article-journal","title":"Who’s Afraid of Amazon. com v. Barnesandnoble. com?","container-title":"Duke Law & Technology Review","page":"3","volume":"1","issue":"1","source":"Google Scholar","author":[{"family":"Dirksen","given":"Stephen"},{"family":"Grimshaw","given":"Kyle"},{"family":"Hostetler","given":"Michael"},{"family":"Jinkerson","given":"Ian"},{"family":"Kim","given":"Michael"}],"issued":{"date-parts":[["2001"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Dirksen et al.)

Amazon’s profit maximizing behaviors.

Since its market characters is monopolistic and it has lowered prices for it products, then its demand curve will shift to the left. It also makes the demand more elastic.

Suppose the price and quantity are below.

The pro9fit maximizing quantity is 40 with a price of $16. The firms MR=MC. The difference between AR AND Ac will give the total profit that is the space above total cost. 3

Work Cited

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Amazon.Com: Online Shopping for Electronics, Apparel, Computers, Books, DVDs & More. https://www.amazon.com/. Accessed 2 Apr. 2019.

Carnevale, Eric. “Questions of Copyright in Google’s Image Search: Development in Perfect 10, Inc. v. Amazon. Com, Inc.” BUJ Sci. & Tech. L., vol. 14, 2008, p. 132.

Dirksen, Stephen, et al. “Who’s Afraid of Amazon. Com v. Barnesandnoble. Com?” Duke Law & Technology Review, vol. 1, no. 1, 2001, p. 3.

Subject: Economics

Pages: 1 Words: 300

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