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Microeconomics in Construction, 2008.
An exploration of microeconomics and its application to sustainable construction.
2,167 words (approx. 8.7 pages), 6 sources, APA, £ 46.95
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Abstract
This paper presents definitions of economics, construction economics, microeconomics, macroeconomics, and construction microeconomics. The writer lists microeconomic principles and discusses the relationship between microeconomics and the production of goods and services within the construction industry. Diagrams are included in this paper.
Outline:
Economics
Resources for Goods and Services
Microeconomics and Macroeconomics
Price Theory (Microeconomics)
Construction Economics
Scarce Building Resources in Sustainable Development
Key Microeconomic Concepts
From the Paper
"Microeconomics relates to finding components contributing to prices, including how they merge and change, and how firms respond to these factors. It includes examining new taxes' effects, the determination of a firm's production profit-maximizing levels; etc. Microeconomics "concerns the economic behavior of individuals - such as clients, contractors, surveyors and engineers - in various markets." Microeconomics, according to another source, constitutes one of the largest subfields in economics and is noted as "the study of the economic behaviour of small economic groups such as firms and families." (Economics 2008) Macroeconomics, on the other hand, relates to inflation rates, national unemployment percentages, the entire economy's growth rate, along with a number of other economic factors."
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Microeconomics and the Property Market, 2008.
An analysis of microeconomics and property rights and how the two relate to each other in today's housing market.
1,622 words (approx. 6.5 pages), 4 sources, MLA, £ 36.95
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Abstract
This paper discusses microeconomics as it relates to the property market, particularly in the realm of property ownership. The paper begins by defining microeconomics and property rights individually and then relates the two to each other. The paper then identifies constraints in housing market behavior and looks specifically at the housing market situation today in the United States.
Table of Contents:
Property Rights Overview
Microeconomics Overview
Microeconomic Aspects Of Property Ownership
Constraints In Housing Market Behavior Identified
Microeconomics In Today's Housing Market
From the Paper
"Other factors include falling housing prices which are noted by Barber to have been "falling at a 16 percent annual rate..." and as well Barber relates that these prices are expected to continue their decline meaning that "homeowners will build little or not equity throughout he duration of plans like this...the study shows that under these plans, homeowners will get to keep their house, but will be paying 85 percent more than if they rented a similar property." (Barber, 2008) The potential for equity being accrued in the home with falling prices and subprime rates and ARMS with variable interest in the terms of the mortgage. The problem is that a likelihood exists that taxpayers will pay approximately $75,000 for "each homeowners who stays in their home." (Barber, 2008) Barber indicates that "particularly problematic" are the decline in prices in the housing market."
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"The Principle of Microeconomics? and the Environment, 2004.
Examines environmental laws and regulations within the context of Mankiw N. Gregory's book, "The Principle of Microeconomics".
1,447 words (approx. 5.8 pages), 5 sources, MLA, £ 33.95
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Abstract
The National Environment Policy Act of 1969 (NEPA), jointly established by the White House and the United States Congress, outlines more than a dozen major laws that form the basis of the Environmental Protection Agency (EPA). This paper begins by outlining some of the major laws enacted by the NEPA. The paper then presents a review of Mankiw N. Gregory's book, "The Principle of Microeconomics", in which the author presents a new style of comprehending the NEPA laws through subjects such as politics, science, and economics. The paper also includes several appendices that contain graphs.
From the Paper
"Within the principle discipline of economics is the newly developed subject of environmental economics that seeks to understand the relationship between the environment and the economy. It goes without saying that a healthy and sustainable economy is dependent on an equally healthy and sustainable environment, not withstanding the often-conflicting elements present within the business entities and concerns. To totally eliminate this conflicting atmosphere that tends to be a hurdle, and somewhat disturbs the approach towards the accomplishment of a healthy environment at the cost of the economy, numerous attempts to bring about a reconciliation to develop a so-called free market environmentalism are being pursued."
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Analysis of Microeconomics, 2008.
An overview of the US economy through the analysis of microeconomics.
2,636 words (approx. 10.5 pages), 11 sources, MLA, £ 54.95
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Abstract
This paper discusses different elements of microeconomics that contribute to the overall economy in the U.S. The author of the paper cites research that has been carried out on minimum wage issues and describes how the downturn of the housing market impacts on other sectors of the economy.
Outline:
Minimum Wages
Antitrust Laws
The Housing Industry & Employment
From the Paper
"Economic theory itself tends to undermine the argument that minimum wages are somehow beneficial. Economic theory states that if the price of unskilled labor increases then employers are just as certain to seek alternative labor sources that are less expensive (Wolfson & Belman). In practice, this theory plays out by managers who, when faced with increasing labor costs, refrain from hiring the 3 employees they might have hired were it not for the increased cost of labor and instead only hire two more skilled laborers but still at an overall savings. This point is made exceedingly clear in Solomon's article where she observes that: "At Petite Provence eatery in Portland, co-owner Didier Blanc says the minimum wage...has had an 'aftershock effect' forcing him to raise wages for all employees...the costs are passed on to customers"(par.13). Alternatively, these managers or companies may seek to invest in the automation necessary to ensure that the manual labor is no longer necessary or to off-shore the work entirely to less expensive markets. In that sense, elevating the federal minimum wage does in fact manifest a positive influence on productivity and output because industry is inclined to automate and become more efficient across the board which is good. However, while the minimum wage increase in Portland can be viewed as a positive argument for raising the federal minimum wage, it also indicates that the benefit to the low-wage workers most impacted will be short-lived:"
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Microeconomics, 2002.
This paper discusses the nature of microeconomics.
1,400 words (approx. 5.6 pages), 6 sources, £ 36.95
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Abstract
This paper explains the use of microeconomics to analyze cetain aspects of the economy today such as employment, consumer beahvior, environemntal policy, and the effects of taxation.
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Microeconomics Analysis and Policy, 2006.
An analysis of the consumer surplus concept within microeconomics.
1,600 words (approx. 6.4 pages), 7 sources, MLA, £ 36.95
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Abstract
This paper examines the theoretical concept of consumer surplus and investigates whether it is measurable. Specifically, the author attempts to demonstrate that consumer surplus can describe a definite conceptual idea, but that any attempt at quantifying results is a logical contradiction.
Introduction and Thesis
The Concept
The Measurement
The Problem of Measurement
Conclusions
From the Paper
"Before beginning a theoretical analysis of the concept of consumer surplus, a brief sketch of the thoughts of other authors is in order. According to George Stigler (1965, p.79), the history of the concept can be traced back to Jules Dupuit (1884), and his search for a justification of public works. Alfred Marshall (1920, p.103) first coined the term "consumer' surplus" to describe for a consumer "the excess of the price he would be willing to pay rather than going without the thing, over that which he actually does pay." Thus the reference to Marshallian Consumer Surplus came into the lexicon."
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Microeconomics Theory, 2008.
An overview of basic microeconomic theory using the restaurant industry as an example.
1,285 words (approx. 5.1 pages), 5 sources, APA, £ 30.95
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Abstract
This paper examines the theory of that all resources are finite. The author points out that key to the concepts underlining the study of microeconomics are the laws of supply and demand. The paper stresses that the laws of supply and demand are very much in evidence in the restaurant industry. The author relates that one beneficiary of the economic downturn are fast food restaurants, especially among the market segment with the least inclination for cooking or interest in health, predominantly male, age 18 to 29.
From the Paper
"The prices of substitute goods also affect supply and demand. If Dunkin' Doughnuts cuts the price of its coffee and breakfast sandwiches, discount merchandiser McDonald's may see a decrease in sales of its coffee and Egg McMuffins, but not in its sodas and hamburgers, because these are not substitute good for breakfast beverages and foods. Changes in the price of complementary goods--gas and large vehicles being an obvious example, will also affect supply and demand, as the price of gas goes up, demand for gas guzzling-vehicles will decrease."
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The Microeconomics of Exotic Fruit, 2004.
Presents a microeconomic analysis of the article, ?Ripe Dreams: How Produce-Aisle Exotica Becomes Everyday Fare?, by Hamilton Martha McNeil.
600 words (approx. 2.4 pages), 1 source, MLA, £ 14.95
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Abstract
This paper summarizes a 2003 article found in the "Washington Post" that explains how produce consumers once found exotic becomes common in America?s supermarkets. ?Ripe Dreams: How Produce-Aisle Exotica Becomes Everyday Fare?, by Hamilton Martha McNeil, highlights the key microeconomic concepts of demand, supply, and market equilibrium, as well as household behavior and consumer choice.
From the Paper
"As demand rose, others saw opportunities and entered the market place, devoting resources, (farm acreage and labor) to growing kiwis. Importers saw opportunities to increase supply and lower costs, by importing kiwi fruit from Chile and New Zealand where the costs of input, mainly farm labor, are cheaper. As the supply of kiwis increased and more and more companies entered the market, the price to consumers began to be pressured downwards. As consumer demand cooled off, nicely illustrating how household behavior and consumer choice influences demand and supply, market equilibrium seems to have been reached."
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Microeconomics across the World, 2004.
A study comparing the economies of two countries, the United States and Germany, with regard to pricing structures.
1,373 words (approx. 5.5 pages), 5 sources, MLA, £ 31.95
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Abstract
This paper analyzes the microeconomics of the U.S. and Germany, highlighting the competitive, capitalist economies. The paper discusses the pricing of capitalist-style microeconomies and explains how it is competitively structured. The paper contends that pricing within a capitalist system is based upon consumer demand and the desire of suppliers to meet that demand at a state of equilibrium determined by the market.
From the Paper
"With notable exceptions, such as Cuba and North Korea, most of the major global economic powers have within their national microeconomic or internal frameworks, some forms or a semblance of a competitive, capitalist economies. In other words, individual economic actors such as firms compete for the monetary confidence of consumers within particular industries, rather than having such behavior regulated by the government. As such, the pricing of capitalist-style micro economies are also competitively structured. Pricing within a capitalist system is based upon consumer demand and the desire of suppliers to meet that demand at a state of equilibrium determined by the market. But although this may be the ideal Adam Smith formulation of capitalism in terms of pricing, no nation and no series of markets operates according to such principles in a pure fashion."
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Microeconomics, 2002.
A study of how employment and resource prices are determined in resource markets.
2,400 words (approx. 9.6 pages), 3 sources, £ 61.95
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Abstract
This microeconomic paper discusses how employment and resource prices are determined in resource markets. It also discusses market demand and supply of resources, market demand, market supply, price ceiling, price floor, individual firm demand, monopsony resource markets and the multiple resources.
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Microeconomics, 2006.
A critique of government mismanagement of farm subsidies.
759 words (approx. 3.0 pages), 3 sources, MLA, £ 18.95
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Abstract
The paper examines the federal government's program of subsidies to farmers, and reflects on how that impacts consumer costs. In conclusion, the paper finds that what is needed is not an overhaul of the tax system, but rather a reassignment of priorities in government spending.
From the Paper
"According to ?"Microeconomic Issues Today", American consumers are essentially paying twice for farm goods. Due to government subsidizing to assure farmers receive adequate income and price floors implemented, we pay higher prices. That is, we are paying for the value of the produce and then a portion that helps pay for the subsidy. We also pay in other ways through our tax dollars. We are paying for the employment of individuals who manage such government programs, which are ultimately enabling farmers. If farmers did not have subsidies to rely on they would be required to determine their own level of outputs, prices, etc, on a regular basis."
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Microeconomics, 2008.
An analysis of anticompetitive legislation and antitrust laws in the United States.
779 words (approx. 3.1 pages), 6 sources, APA, £ 18.95
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Abstract
This paper illustrates the negative impact that the federally mandated minimum wage has on the economy as well as the individual low income worker. Additionally, it examines the body of anticompetitive legislation. The paper argues that this anticompetitive legislation actually results in monopolistic structures and anticompetitive behavior by privileging some parties over others.
Outline:
Abstract
The Federal Minimum Wage
Antitrust Laws
From the Paper
"The fact of the matter is that Microsoft owns the operating system as well as the web browser and is simply fulfilling a consumer desire to achieve fully integrated functionality. Additionally, since its product in the form of the browser is free Microsoft cannot be said to actually be generating revenue from this strategy either. However, the indictment against anticompetitive legislation rests in its tendency to quell innovation in the open market because companies are unable to fully capitalize on their products and services because of the artificial constraints placed upon them by government regulations."
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Microeconomics and Licensure, 2006.
A paper arguing that act of licensure in a free market economy does help protect the consumer.
975 words (approx. 3.9 pages), 3 sources, MLA, £ 23.95
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Abstract
This paper presents arguments that rebut the notion that market pricing in the form of licensure negatively interferes with the free market economy. The paper argues that licensure plays an important role in protecting the consumer from faulty, incomplete or incompetent services or products and that the advantages of licensure far outweigh any of its disadvantages.
From the Paper
"Such perceived interference often results in voting for regulations that monitor sectors of production of goods or services. Once established, some regulations intended to provide a measure of economic justice may tend to lag behind changes in economic events and may hinder or contribute to economic injustice. Also, at times regulatory commissions appointed with the task of providing social values to an otherwise dehumanized system of efficiency often side with the very industry it is supposed to be regulating. The act of granting licenses, for example to practice a profession, is an activity one authority describes as a "Directly Unproductive Profit Seeking Activity" (Maital 288). This same authority feels that licensing mechanisms are incidents where candidates spend heavily to secure them since the control of agencies empowered with licensing mechanisms can be a source of power and profit (288)."
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Microeconomic Principles and Song, 2002.
Discusses how issues of microeconomics are incorporated into Garth Brooks' song "We Shall Be Free".
1,400 words (approx. 5.6 pages), 1 source, MLA, £ 32.95
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Abstract
The principles of microeconomics are not just important to economists and scholars, the principles apply to many aspects of society that impact everyone. Microeconomics considers how goods are produced, how people create their income and how people make decisions to spend that income. In short, microeconomics refers to aspects of life that people encounter every day. With this relevance of microeconomics to everyday life, it is not surprising that principles of economics can be found in many places, including in the lyrics of songs. To illustrate how the principles of microeconomics are referred to in a song, Garth Brooks? "We Shall Be Free" is used as an example. Considering the lyrics of this song, it is seen that various items are mentioned that relate to microeconomics. As well as describing these items, the analysis also extends to a brief discussion of why they are important to people.
From the Paper
"The lyrics of We Shall Be Free includes the following lines, ?And when money talks for the very last time / And nobody walks a step behind / ? / Then we shall be free.? This statement from the lyrics goes against the principles of the market economy and the concept of fairness in the market economy. ?When money talks for the very last time? refers to money not having power. The market economy of current society is based on money as power, since money is the means to obtaining necessary and desired goods and services. If money did not ?talk? in modern society, why would people work? It is fair to suggest that most people would not work if what they obtained from that work was worthless to them. If people did not work, companies would not be producing the goods that people buy with the money they work for. This illustrates that the lyrics suggest a different view of economics than what society is currently based on. The line ?And nobody walks a step behind? also suggests that everyone is equal. "
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