Abstract
This paper offers an analysis of the impact of the credit crunch and recent economic downturn upon the business environment in general terms. The paper then goes on to consider the credit crunch in relation to a case study organisation, the US auto making giant GM. The paper highlights how businesses have had to adapt substantially in order to meet the new demands of the external business environment.

Outline:
Introduction
Impact upon the Business Environment
Impact upon GM
Conclusion

From the Paper
"Having considered the direct effects of the credit crunch on a business from a resource based view there is the consideration that there are a greater number of effects coming from the wider and indirect effects in the business environment. One of the primary considerations of the credit crunch is that the same considerations of either lack of availability of credit or the rising cost of credit has been an equal challenge to the consumer. As such this may be seen as one of the route causes of what has moved from a credit crunch to a wider economic recession fuelled by a glut in spending originally fuelled by lower levels of credit being available to the consumer. From the perspective of the individual company this has been falling revenues in most sectors with a larger effect on high value products which are usually associated with credit sales than has been the case in the more buoyant food retail sector in which products are both a necessity and usually associated with cash or cash equivalent sales (Talking retail 2009, Just food 2009). Further more there is the consideration that falling sales have become what may be surmised as a spiralling effect of the business environment in relation to individual firms. Sales have initially fallen in credit related sectors due to the effects of the credit crunch on the consumer however as firms have responded to these falling sales by reducing capacity and thus making wide scale redundancies this has further reduced the amount of money available in the consumer sector as unemployment has risen thus depressing sales further."

Tags:recession, sales, liquidity, bankruptcy

Abstract
This paper discusses the overall effectiveness of the Australian government and Reserve Bank of Australia in managing the Australian economy in recent years. The paper considers GDP growth, unemployment and inflation as key measures of economic health and also examines monetary policy as well as supply side policies. The paper further looks at how key tools such as interest rates and money supply have been used to maintain economic stability in the country during the course of the global recession.

Outline:
Part 1
Part 2

From the Paper
"As the OECD notes, Australia in the past two years has represented the exception rather than the rule where economic health has been considered amongst other developed economies. While Australia has not escaped the recent economic downturn and rates of GDP growth have faltered, Australia is one of the few countries to have escaped a period of negative GDP growth in recent years. Thus while Australia ranks 17th in terms of actual GDP (Nation Master, 2011), data from the CIA world fact book (CIA, 2011) indicates that Australia has experienced a much higher rate of economic growth in the past two years than other leading economies. During the year 2010, GDP growth was estimated to be 2.7% in Australia, up from 1.3% in 2009 and in line with the 2.8% seen in 2008. This compares to much poorer figures seen in other developed economies such as the UK which saw rates of just 1.3%, -4.9% and -0.1% in the years 2010, 2009 and 2008 respectively, the United States doing slightly better although not consistently outperforming Australia at 2.8%, -2.6% and 0% in the years 2010, 2009 and 2008 respectively (CIA, 2011). Thus from a purely growth based perspective, one may take the opinion that the Australian government and central bank have managed the economy with considerable skill during the past two years, especially when comparing data to those of other countries."

Tags:interest, GDP, unemployment, inflation, money, supply

Abstract
This paper focuses on the changing economic ideas which characterized Margaret Thatcher's time in office. The paper discusses Thatcher's beliefs in the privatisation of state owned infrastructure and the power of the market over other forms of allocation and then shows how business gained significantly more power over sectors which it never used to be able to influence. The paper argues that this legacy has contributed largely to the economic problems we are facing today.

From the Paper
"When Thatcher was elected in 1979 she took over from a Labour government which was struggling to take control of a country in relative turmoil. High unemployment and continuing battles with the trade unions had left the country in a state of relative disrepair. It was largely these conditions under which Thatcher took power that defined the future of her leadership and how she would be remembered. She believed in a Britain which took responsibility for itself. A Britain in which everyone could lift themselves up if only they worked hard enough. Heavily critical of ideas such as the 'nanny state' and overly inclusive systems of social insurance, she believed in hard work as a cure all. It was through individuals working hard for themselves that the country would become great again. Therefore it was always likely that she would pursue lines which would 'liberate' people to work hard.
"Margaret Thatcher, the 'Iron Lady', is largely remembered for the huge amounts of privatisation that occurred under her leadership of the UK (Walsh 2000 p.492). The prevalent philosophy of the time that tied in with both her policies in the UK and also those of President Reagan in the USA was that one should take responsibility for oneself and that the best way to create efficient public services was to privatise everything in the name of efficiency (Jenkins 2006 p.15). This is a philosophy which Jenkins argues has also had a significant effect on the two subsequent Prime Minister's, both John Major and Tony Blair (Jenkins 2006)."

Tags:trade, unions, privatisation, state, regulation

Abstract
This paper relates that, since money is an economic multiplier and contributes to the flourishing of an economy, it is assumed that banking reform is an important factor to economic growth in transition economics. Next, the paper looks at to what extent banking reform is influential, to what degree it is needed and the structure and functions of the banking sector as required for economic growth. After a literature review of several studies, the paper concludes that banking reform definitely is a necessary precursor to economic development because significant innovation and private enterprise needed to develop the economy must be able to attain funding.

From the Paper
"Fries and Taci's study findings further suggested that to achieve more economic growth there was a need for policies which could strengthen the supply response (their capacity to supply loans and financial support) of banks in order to accelerate banking and enterprise reforms. These included freedom in entry and exit from the banking industry, availability of background information about a prospective borrower, withdrawal of barriers as regards the spread of foreign-owned banks, and banking skills and technology transfer to improve small and medium-sized enterprises' access to bank loans .
"The findings of Fries & Taci's study showed that there was a positive correlation between the government balance and real expansion of loans to enterprises and households. The observed rate of real growth in outstanding customer loans reflects the interaction over time of the demand for banking loans and their supply by individual institutions."

Tags:monobank, credit markets, regulation privatised, supply response

Abstract
This paper examines how the North export base thesis is an attempt to explain rapid U.S. economic growth, by examining the importance of raw material exports, mostly cotton to Europe. It looks how it presents a valid and to a large extent validated explanation to how and why the U.S. economy enlarged and diversified between 1790 and 1860.

From the Paper
"According to North's thesis the importance of cotton exports as the basis for US economic growth is unparalleled. Cotton prices began to rise in 1812; by 1815 they were in excess of 20 cents a pound in New York. The continued growing demand of the English textile industry in Lancashire was not matched by an equal expansion in supply, therefore increasing the price of cotton. Prices reached a peak of 29 cents a pound in 1816 and remained high until 1818. The extensive waterways of the South allowed for a vast expansion of cotton growing land, not far removed from its only cheap method of transportation. The beginning of steam boats on the Mississippi (1816) further reduced transportation costs and prompted further investment in the cotton growing plantations of the South."

Tags:industry, export

Abstract
This paper examines how the question of whether American industry was involved in a 'take-off' relates directly to Rostow's "The Stages of Economic Growth." It looks at how in his theory of social change Rostow pinpoints five key stages in a country's economic progression. It attempts to establish if American industry was in the 'take-off' stage in the 1840s by examining the phase's pre-requisites and unique features.

From the Paper
"The 1840s, especially 1842 through to 1847 saw an unprecedented expansion in the production of pig iron. Output increased from 230,000 gross tons in 1842 to 765,000 gross tons in 1847, an annual growth rate of 27%. The demand was created by the immense amounts of iron needed for railway construction. However, the supply could only be achieved by a series of technical improvements that are a hallmark of Rostow's 'Take-off' stage. Imported new blast furnace technology, predominately from Britain led to a higher standard of metals. New Jersey started using the 'hot blast' that had been developed in 1834 in England, and in 1839 it became possible after further advances to use anthracite coal from Pennsylvania where there was an abundant supply."

Tags:railway, construction

Abstract
There are several features of the macroeconomic environment that can have tremendous effects on the profitability of any given firm within the economy in question. This paper shows that these effects can be either favorable to the firm's profit-making ability or can have unprecedented adverse effects on it business activities, which would manifest itself as decreased profits and profitability of the business as a whole. The effects of macroeconomics features, such as aggregate national income, total investment and exports for the entire economy, on business profitability cannot be overemphasized. The paper shows that there are a broad range of opportunities and difficulties facing the macro economy as a whole that will have influences on the nature of businesses and the way in which they operate. The paper includes several figures.

From the Paper
"Government budget deficits are another feature of the macro environment that will immensely influence the level of profitability attributable to a business. The annual budget, which a government intends to pursue, will affect not only business profits, but also the economic situation of private individuals, which will in turn affect the way in which goods and services are transacted. In reality, as soon as a government announces its budget for the year, businesses already start making adjustments in order to synchronize their objectives and profit-making strategy in line with the budget."

Tags:deficit, budget, GNP, globalization, interest, rates

Abstract
This paper evaluates the relative strengths and weaknesses of the political economy espoused by the Fabians. It provides a history and general overview of the system and discusses the tenets of Fabian political economy. The paper concludes that the inconsistencies in the Fabian analysis of socialism dwarf its strengths and discusses the reasons for this conclusion.

From the Paper
"In conclusion many of the assertions proffered by the Fabians clearly have strong elements of validity. The prescriptive and scientific approach to policy prescriptions, along with a wish to work to change the current system as opposed to overthrowing it gave their analysis significant legitimacy. However, the endemic flaws that lay within their brand of socialism made the application of their theories extremely difficult. It was this that constrained the minority Labour governments of the inter war years, and made it unlikely for their analysis as a whole to be adopted by later governments."

Tags:socialism, labour, employees

Abstract
The paper discusses the indicators of macroeconomic performance in the United Arab Emirates (UAE) as well as the main economic strengths and weaknesses of the UAE. The paper comes to the conclusion that the outstanding overall economic performance over the last four years has given the UAE a very important role in the world's economy. The paper predicts that the United Arab Emirates has considerable potential to be an even more powerful player and leading force in the world's economy.

Outline:
General
Indicators of Macro Performance
Main economic strength of the United Arab Emirates
Main economic weaknesses of the United Arab Emirates
Monetary policy
Conclusion

From the Paper
"As a result of rapidly increasing net exports, economic growth accelerated again after 3 years of stable oil earnings and constant GDP per capita of approximately $22,000, reaching an average rate of around 9.7% in 2004 (The World Factbook, 2007). In 2005, the economy was able to expand with a real GDP growth of 8.2%. Last year overall nominal GDP in the UAE is reported to have risen by 23.4% - real GDP by 8.9% (The Economist, 2006).
"This expansion is, like the rising export revenue, increasingly being driven by strengthening investment, especially in the real estate sector and rising private consumption (Economic Data, 2007). This in turn also reflects, to a certain extent, the growing wealth of UAE residents and marks the rapid pace of population growth (+ 3.99% from 2006 to 2007), which is fuelling a rapid rise in consumption (About UAE, 2004)."

Tags:imports, exports, GDP, investment, unemployment, revenue, consumption

Abstract
The paper discusses the current global financial crisis in terms of identifying the fundamentals that caused this crisis and the nature of the crisis and the issues at stake. The paper invokes a certain degree of financial and economic theory in an attempt to analyze the pressing concerns in this crisis and the measures being suggested to tackle those concerns.

From the Paper
"To understand this housing bubble one needs to know that for several years after the dotcom bubble the housing and plot prices in US soared and started seeing a correction in 2005-2006 which led economists to confirm the conclusion that housing prices were rising to unsustainable levels. Yale economist Robert Schiller argued that "Once stocks fell (after the dotcom era), real estate became the primary outlet for the speculative frenzy that the stock market had unleashed" . Now it is imperative to understand that these sub-prime loans are categorized as "sub-prime" for the very reason that they are lent out to borrowers who do not qualify for loans on market interest rates; simple economic theory about risk premium being applied when lending to these types of borrowers."

Tags:simple, economic, theory, mortgaged, houses, psychological, level, investors