Discuss Saudi Arabia’s participation in the World Trade Organization (WTO). Compare and contrast the Kingdom’s WTO involvement with its participation in the Gulf Cooperation Council, League of Arab States, and the Trade and Investment Framework Agreement (TIFA) Saudi Arabia signed with the United States.

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Trade Regulations and Industrial Policies

International trade is subject to trade regulations and industrial policies. The Kingdom of Saudi Arabia is also subject to these regulations because of signed trade treaties or membership in various trade organizations.

For this week’s discussion, please:

  • Discuss Saudi Arabia’s participation in the World Trade Organization (WTO).
  • Then, compare and contrast the Kingdom’s WTO involvement with its participation in the Gulf Cooperation Council, League of Arab States, and the Trade and Investment Framework Agreement (TIFA) Saudi Arabia signed with the United States.
  • Which membership or trade agreement benefits Saudi Arabia the most?
  • explain your position.

 

 

In Riyadh City Road traffic congestion is increasing day by day. As an economist how you see this problem? Suggest and explain an economist’s solution to this problem.

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Economics Question

Q1. In Riyadh City Road traffic congestion is increasing day by day. As an economist how you see this problem? Suggest and explain an economist’s solution to this problem. (3 Marks)

Q2. What is opportunity cost? Draw a Production Possibility curve for a country producing two goods and show with help of an example, how principle of opportunity is applied in explaining the changes in production possibilities for the country. (3 marks)

Q3. What is market equilibrium? Take an example of pizza (assume its price and quantity demanded) and analyse graphically, what happens to the equilibrium price and quantity when, (a) there is increase in demand and (b) there is increase in supply. (4 Marks)

 

Write a policy report for the Japanese government, analysing the impact of the COVID-19 pandemic on the economy.

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Interest Rates, Money and Central Banking

Write a policy report (your assignment) for the Japanese government, analysing the impact of the COVID-19 pandemic on the economy. Among other things, your analysis/discussion should include the following aspects:

(1) An analysis of the impact of the COVID-19 pandemic on the global economy in general and with reference to the chosen country in particular.

(2) What macroeconomic policy (monetary and fiscal policy) measures were adopted in your chosen country to counter the impact of the crisis and revive the economy.

(3) Critically evaluate whether these policy (monetary and fiscal policy) measures were effective in resolving the crisis (in your chosen country).

(4) Critically evaluate how the process of economic recovery is shaping (in your chosen country).

(5) What policy recommendation you would make to the government to ensure sustainable economic growth with price stability (in your chosen country).

 

Evaluate the impact of the following policy option: Reducing tariffs on imported oil and gas by 50% in order to reduce the cost of living for Romanian consumers.

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Micro Foundations of Markets and Behaviour

You are an economist, and part of an inter-disciplinary team set-up within the purview of the office of the Romanian Presidency. Thus your focus should be on the situation as it impacts on Romania only.

Your task, within the inter-disciplinary team, is as follows:

Part A

To evaluate (graphically and in words, no calculations necessary) the impact of the following policy option: Reducing tariffs on imported oil and gas by 50% in order to reduce the cost of living for Romanian consumers (note that while Romania produces oil and gas, it still has to import a certain amount). Comparing to the situation when the tariff was higher, note the impact this would have on Romanian consumers, Romanian producers, Romanian government revenue and also on efficiency.

Find a historical case (anywhere in the world) where a reduction on import tariffs (not necessarily on energy) was enacted to make a product more affordable and accessible to the public, and summarise the effectiveness (or ineffectiveness) of the policy. Note why it succeeded (or failed), and how it could inform how effective (or ineffective) the theory you have presented in part (i) could be.

Part B

Upon reporting your evaluation to your inter-disciplinary team members, you begin to receive feedback from other disciplinary perspectives. One particular strong objection to the price control on fuel comes from the team member with a background in welfare studies, who points out, in particular, the need to meet Sustainable Development Goal (SDG) 1.2: By 2030, Reduce at Least by Half the Proportion of Men, Women and Children of all Ages Living in Poverty in all its dimensions according to national definitions. He points out that if Romania reduces import tariffs then government revenue falls, leading to less funding for poverty alleviation programs.

Given your analysis in Part A, consider the strengths and weaknesses of concentrating just on economic theory alone when formulating policy on Romania’s reduction of import tariffs on fuel. How does economic theory help policymakers with energy policy, and what are its limitations?

Your team members and you agree to formulate an energy policy that can help alleviate extremely high energy costs for Romanian consumers in the very short-term (the Northern Hemisphere winter is quickly approaching) that accounts for both economic theories and/or models but also one (or two, if you prefer) theories and/or models from another discipline (or disciplines) that can produce a policy recommendation that is superior to what you highlighted in Part A(i). Briefly highlight this policy, and note how it is a better policy than the one you initially proposed.

 

Discuss key economic problems faced by the company and to find rational solutions. It is based on the timeless Case Study in business strategy of Spectrum, which follows Module Group B of the textbook.

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Business strategy of Spectrum

As a team of executive board members, you are meeting to discuss key economic problems faced by the company and to find rational solutions. It is based on the timeless Case Study in business strategy of Spectrum, which follows Module Group B of the textbook. The case allows you to apply core elements from managerial economics to a remarkably rich business environment. You need to identify key issues, present your analysis, make and defend your recommendations and decisions. Consider this a practice run for the real business world.

In this case analysis, focus on Memo 1, Memo 3, and Memo 6,

 

Run a regression of Course_Eval on Beauty, including some additional variables to control for the type of course and professor characteristics. In particular, include as additional regressors Intro, OneCredit, F emale, M inority, and N N English. What is the estimated e§ect of Beauty on Course_Eval? Does the regression in (a) su§er from important omitted variable bias?

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Essentials of Econometrics

Empirical Exercises SW6

E6.1 Using the data set TeachingRatings described in Empirical Exercises 4.2, carry out the following exercises.

(a) Run a regression of Course_Eval on Beauty. What is the estimated slope?

(b) Run a regression of Course_Eval on Beauty, including some additional variables to control for the type of course and professor characteristics. In particular, include as additional regressors Intro, OneCredit, F emale, M inority, and N N English. What is the estimated e§ect of Beauty on Course_Eval? Does the regression in (a) su§er from important omitted variable bias?

(c) Estimate the coe¢ cient on Beauty for the multiple regression model in (b) using the three-step process in Appendix 6.3. in Stock and Watson textbook (the Frisch Waugh theorem). Verify that the three-step process yields the same estimated coe¢ cient for Beauty as that obtained in (b).

(d) Professor Smith is a black male with average beauty and is a native English speaker. He teaches a three-credit upper-division course. Predict Professor Smithís course evaluation.

E6.2 Using the data set CollegeDistance described in Empirical Exercises 4.3, carry out the following exercises.

(a) Run a regression of years of completed education (ED) on distance to the nearest college (Dist).What is the estimated slope?

(b) Run a regression of ED on Dist, but include some additional regressors to control for characteristics of the student, the studentís family, and the local labor market.

In particular, include as additional regressors Bytest, F emale, Black, Hispanic, Incomehi, Ownhome, DadColl, Cue80, and Stwmf g80. What is the estimated e§ect of Dist on ED?

(c) Is the estimated e§ect of Dist on ED in the regression in (b) substantively di§erent from the regression in (a)? Based on this, does the regression in (a) seem to su§er from important omitted variable bias?

(d) Compare the Öt of the regression in (a) and (b) using the regression standard errors, R2 and R2. Why are the R2 and R2 so similar in regression (b)?

(e) The value of the coe¢ cient on DadColl is positive. What does this coe¢ cient measure?

(f) Explain why Cue80 and Swmf g80 appear in the regression. Are the signs of their estimated coe¢ cients (+ or -) what you would have believed? Interpret the magnitudes of these coe¢ cients.

(g) Bob is a black male. His high school was 20 miles from the nearest college. His base-year composite test score (Bytest) was 58. His family income in 1980 was $26,000, and his family owned a home. His mother attended college, but his father did not. The unemployment rate in his county was 7.5%, and the state average manufacturing hourly wage was $9.75. Predict Bobís years of completed schooling using the regression in (b).

(h) Jim has the same characteristics as Bob except that his high school was 40 miles from the nearest college. Predict Jimís years of completed schooling using the regression in (b).

E6.3 Using the data set Growth_new described in Empirical Exercise 4.4, but excluding the data for Malta, carry out the following exercises.

(a) Construct a table that shows the sample mean, standard deviation, and mini- mum and maximum values for the series Growth, T radeShare, Y earsSchool, Oil, Rev_Coups, Assassinations, RGDP 60. Include the appropriate units for all entries.

(b) Run a regression of Growth on T radeShare, Y earsSchool, Rev_Coups, Assassinations and RGDP 60. What is the value of the coe¢ cient on Rev_Coups? Interpret the value of this coe¢ cient. Is it large or small in a real-world sense?

(c) Use the regression to predict the average annual growth rate for a country that has average values for all regressors.

(d) Repeat (c) but now assume that the countryís value for T radeShare is one standard deviation above the mean.

(e) Why is Oil omitted from the regression? What would happen if it were include

Do a Google search and see what differences you can find between President Trump and President Obama (in terms of fiscal policy). Share what differences you have found. What are the short and long-term implications their policies?

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Policies for Economic Growth

Explain which of the following policies you believe are likely to increase the rate of economic growth in the United States.

  1. Congress passes an investment tax credit, which reduces a firms taxes if it installs new machinery and equipment.
  2. Congress passes a law that allows taxpayers to reduce their income taxes by the amount of states sales taxes they pay.
  3. Congress passes a bill that pays all outstanding student loan debt in the United States.

500-600 words

 

Part two

Trump vs. Obama

Do a Google search and see what differences you can find between President Trump and President Obama (in terms of fiscal policy). Share what differences you have found. What are the short and long-term implications their policies?

NOTE: Be friendly and observe “netiquette” on this forum. We are simply discussing their economic policies.

 

Part three

Money

What are the three functions of money? Can something be considered money if it does not fulfill all three functions? Would you consider Bitcoin money?

 

 

What is your chosen country’s GDP? Find the most recent information you can about your country. Based on this information, determine which stage of the business cycle your country is in: recession, trough, growth (recovery) or peak.

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Australia GDP discussion

What is your chosen country’s GDP? Be sure to find the most recent information you can about your country. Let us all know by posting to the Country GDP Forum. Let us know your country’s GDP for the past 4 quarters , 4 months or the past 4 years, growth rate, and whether it is expected to stay the same, shrink or continue to grow. Based on this information, determine which stage of the business cycle your country is in: recession, trough, growth (recovery) or peak. Include the links to where you find the information. DO NOT copy and paste information. Put this information in your own words. Your post needs to be a minimum of 250 words of content, not including your source links. Write your post in narrative form not question and answer form.

Make sure you address the following

(1) Find most recent total GDP

(2) Find the last 4 quarters, 4 months or 4 years GDP and GDP growth rate

(3) Where are they in the business cycle

(4) What is their GDP expected to do in the coming months

 

 

Using Figure 1. in Class Note 2 to explain why the average cost is initially high, then goes down, and is back up again? Explain why total cost always increases.

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Economics Question

1 Using Figure 1. in Class Note 2 to explain why the average cost is initially high, then goes down, and is back up again?

(Make sure you understand the concepts of total cost, fixed cost, and variable cost).

2 Define marginal cost

3 Use Figure 2 in Class Note 2 to describe the marginal cost for a traditional product

(non-informational product)

4 Use Figure 4 in Class Note 2 to explain why the marginal cost for an informational product such as a CD, an ebook, an ejournal, can be constant

5 Use Figure 5 to point out the optimal production point and explain why

6 Explain why total cost always increases (see Figure 6 in Class Note 2)

7 Explain why the supply curve shifts upward when quantity increases (see Figure 7 in Class Note 2)

 

Identify the key concepts in Economics: scarcity, opportunity cost, comparative advantage, and externalities. Discuss the key concepts in Microeconomics. Distinguish between microeconomic and macroeconomic issues.

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Economics

Identify the key concepts in Economics: scarcity, opportunity cost, comparative advantage, and externalities.

Discuss the key concepts in Microeconomics.

Distinguish between microeconomic and macroeconomic issues.

Differentiate between positive and normative economics.

Identify factors of production 6.avoid plagiarism.