Write a research paper related to economics development in Kenya.

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Economics Question

Write a research paper related to economics development in Kenya.

Write an essay explaining well the advantages of using money in economy.

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Importance of using money in the society

Write an essay explaining well the advantages of using money in economy.

Analyze the effect of an increase in the growth rate of technology 𝑔 coupled with an increase in 𝛿𝐻 on the steady state levels of β„ŽΜƒ βˆ— and π‘˜Μƒ βˆ—in this case. Compare your results with part (a).

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Political Science and Economics Department

Question 1 – 10 marks
Consider the Solow model with human capital as presented in chapter 6 of the text. Recall that we can analyze the model using a phase diagram constructed with the following two steady state equations:
π‘˜Μƒ βˆ— = ( π‘ πΎβ„ŽΜƒπ‘‘
πœ‘
𝑛 + 𝑔 + 𝑛𝑔 + 𝛿) 1
1βˆ’π›Ό
β„ŽΜƒ βˆ— = ( π‘ π»π‘˜Μƒπ‘‘
𝛼
𝑛 + 𝑔 + 𝑛𝑔 + 𝛿)
1
1βˆ’πœ‘

a) Use a phase diagram to analyze the effect of an increase in the investment rate in human capital 𝑠𝐻 on the steady state levels of π‘˜Μƒ βˆ— and β„ŽΜƒ βˆ—.

b) Now suppose that 𝑠𝐾 + 𝑠𝐻 = 𝑠̅ where 𝑠̅ denotes the total savings rate of households to invest in either physical or human capital. If we assume that 𝑠̅ is fixed, use a phase diagram to analyze the effect of an increase in the investment rate in human capital 𝑠𝐻 on the steady state levels of π‘˜Μƒ βˆ— and β„ŽΜƒ βˆ—. How does your answer compare with part a)?

c) Recall that the steady state level of output per capita in this model is given by
𝑦𝑑
βˆ— = ( 𝑠𝐾
𝑛 + 𝑔 + 𝑛𝑔 + 𝛿)
𝛼
1βˆ’π›Όβˆ’πœ‘( 𝑠𝐻
𝑛 + 𝑔 + 𝑛𝑔 + 𝛿)
πœ‘
1βˆ’π›Όβˆ’πœ‘

If 𝑠𝐾 + 𝑠𝐻 = 𝑠̅ , derive the optimal value of 𝑠𝐻 as a function of 𝑠̅ . Under what conditions should 𝑠𝐻 exceed 𝑠𝐾? (Hint: convert the above expression into logarithms and then derive a first order condition with respect to 𝑠𝐻.

Question 2 – 10 marks
Consider the Solow model with human capital as presented in chapter 6 of the text. In this case, we allow for the possibility that the depreciation rates on physical and human capital are different, so that:
π‘˜Μƒ βˆ— = ( π‘ πΎβ„ŽΜƒπ‘‘
πœ‘
𝑛 + 𝑔 + 𝑛𝑔 + 𝛿𝐾
) 1
1βˆ’π›Ό
β„ŽΜƒ βˆ— = ( π‘ π»π‘˜Μƒπ‘‘
𝛼
𝑛 + 𝑔 + 𝑛𝑔 + 𝛿𝐻
)
1
1βˆ’πœ‘

a) Suppose initially that the two depreciation rates are identical, so that 𝛿𝐾 = 𝛿𝐻 = 𝛿. Use a phase diagram to illustrate the effect of an increase in the technology growth rate 𝑔 on the steady state levels of physical and human capital per effective unit of labour.

b) A potentially unattractive side effect of an increase in technology growth 𝑔 is an increase in 𝛿𝐻. For example, one could imagine that as the pace of technological change increases, existing skills and knowledge depreciate faster. Analyze the effect of an increase in the growth rate of technology 𝑔 coupled with an increase in 𝛿𝐻 on the steady state levels of β„ŽΜƒ βˆ— and π‘˜Μƒ βˆ—in this case. Compare your results with part (a).

c) In class, we assumed that α = ψ = 1/3, so that 1/3 of national income goes to physical capital, 1/3 to human capital and 1/3 to unskilled labour. Suppose instead that α = 1/3, but that ψ = 2/3 so that all labour income goes to human capital and none goes to unskilled labour. Illustrate the resulting phase diagram carefully, and discuss how the results of this model differ relative to the model discussed in class.

Question 3 – 5 marks
Consider a version of the Solow model with a diminishing productive resource such as oil, described in section 7.2 of the text. In this case the production function is given by
π‘Œπ‘‘ = 𝐾𝑑
𝛼(𝐴𝑑𝐿𝑑)𝛽𝐸𝑑
πœ–
where 𝐸𝑑 is the amount of oil used in production in period 𝑑. Note that the stock of oil remaining in period 𝑑 + 1 is then given by 𝑅𝑑+1 = 𝑅𝑑 βˆ’ 𝐸𝑑, where 𝐸𝑑 = 𝑠𝐸𝑅𝑑. We also assume that 𝛼 + 𝛽 + πœ– = 1.

a) Show that the growth in GDP per capita in this case is given by
𝑔𝑦 = 𝛽
𝛽 + πœ– 𝑔 βˆ’ πœ–
𝛽 + πœ– 𝑛 βˆ’ πœ–
𝛽 + πœ– 𝑠𝐸

b) One of the problems with assuming that a resource diminishes over time is that new sources and/or substitutes can be discovered, which reverses the perceived drain in the initial resource. This can be modeled in a simple way by assuming that 𝑠𝐸 can take on a negative value. At what (negative) value for 𝑠𝐸 will growth in per capita GDP be the same as in the base model with technological progress (ie, the model of chapter 5)?

Think of an event in the US (from the past) that caused the AS curve to shift. Briefly describe the event and draw an ADAS diagram to show what happened to GDP, Unemployment, and the Price level in the short run.

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ADAS discussion

Think of an event in the US (from the past) that caused the AS curve to shift. Briefly describe the event and draw an ADAS diagram (starting in long-run equilibrium) to show what happened to GDP, Unemployment, and the Price level in the short run.

Identify and analyse the likely key non-price determinants of supply for the chosen good or service over the next ten years and to correctly identify and assess whether those determinants are likely to increase or decrease supply or stayed relatively constant over the period.

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Microeconomics

The task is to produce a ten-year market forecast for a good or service of your choice. You can choose another service or goods or I would like to have the market forecast on a service – a licensed residential care service for children in out of home care (northern NSW). The children will need to be in the care of the state (NSW). The service would be residential home set up with 24/7 carers and adhere to the NSW Child Safe Standards for Permanent Care (November 2015).
Please use graphs, tables and figures where relevant.

This assessment will draw heavily on the material presented in Modules 2 and 3. I I can supply all powerpoint slides for modules 2 and 3.

Read these requirements carefully and make sure the brief is formed to include each element
In this forecast you should:

1. Clearly introduce a good or service and position it within a broader market context

2. Identify and analyse the key non-price determinants of demand for the chosen good or service and to correctly identify whether those determinants are likely to increase or decrease demand.

3. Identify and analyse the likely key non-price determinants of supply for the chosen good or service over the next ten years and to correctly identify and assess whether those determinants are likely to increase or decrease supply or stayed relatively constant over the period.

4. Combine the effects of demand and supply on the overall market position and communicate this clearly via the demand and supply framework.

Bring together your demand and supply forecasts, and therefore draw a conclusion about the overall market price/quantity at the end of the decade.

5. Note any potential risks and/or opportunities related to your good or service. Pay particular attention to risks and/or opportunities from a sustainability / sustainable development perspective.

Develop and test (at the 5-percent level) appropriate hypotheses for the coefficients of the variables in this equation. Which variables might be candidates as irrelevant variables? Why did you choose these variables?

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Eviews questions

Applied Econometrics Homework Two

(Submit Completed Assignment Online via Canvas by 11:59PM on Sunday, March 5, 2022)

1. You are attempting to see if the pharmaceutical industry practiced international price discrimination by estimating a model of the prices of pharmaceuticals in a cross section of 32 countries. You assume that if price discrimination exists, then the coefficient of per capita income () in a properly specified price equation would be strongly positive. Your reasoning for why the coefficient of per capita income measures price discrimination is as follows: the higher the ability to pay, the lower (in absolute value) the price elasticity of demand for pharmaceuticals and the higher the price a price discriminator could charge. In addition, you expect that prices would be higher if pharmaceutical patents were allowed and that prices would be lower if price controls existed, if competition was encouraged, or if the pharmaceutical market in a country was relatively large. Your estimates are found below with standard errors in parentheses:

  1. Set up 90-percent confidence intervals for the estimated slope coefficients on the GDPN and CVN variables. should be positively signed while should be negatively signed.
  2. Per your confidence interval, what is the maximum impact of increasing CVN by one unit on a country’s relative pharmaceutical price level (P)?
  3. Do you conclude that international price discrimination exists? Explain why or why not using your confidence interval.
  4. Develop and test appropriate hypotheses concerning the regression coefficients for the PP, DPC, and IPC variables using the t-test at the 5-percent level. You should expect that will be positively signed while and will be negatively signed.

 

2. Consider a model of iPod prices on eBay (standard errors in parentheses):

  1. Create and test hypothesis for the coefficients of NEW and SCRATCH at the 5-percent level. (Hint: Use the critical value for 120 degrees of freedom.)
  2. In theory, the more bidders there are on a given iPod, the higher the price should be. Create and test hypotheses at the 1-percent level to see if this theory can be supported by the results.
  3. Based on the hypothesis tests you conducted in parts a and b, are there any variables that you think should be dropped from the equation? Explain.
  4. Test the overall significance of this equation with the F-test at the 5-percent level. Use the F-stat provided in the regression results above. Be sure to state the correct null and alternative hypotheses and to denote your critical value. Write down the restricted model used by EViews to compute the F-stat?

The dataset also includes a variable (PERCENT) that measures the percentage of customers of the seller of the ith iPod who gave that seller a positive rating for quality and reliability in previous transactions.12 In theory, the higher the rating of a seller, the more a potential bidder would trust that seller, and the more that potential bidder would be willing to bid. If you add PERCENT to the equation, you obtain the following results:

  1. Use our four specification criteria to decide whether you think PERCENT belongs in the equation. Be specific. (Hint: is not given, but assume that the addition of any variable with a t-score greater than one in absolute value will increase )

 

 

 

3. For each of the following situations, determine the sign (and, if possible, comment on the likely size) of the expected bias introduced by omitting a variable. Determine the sign for both components of the bias term. (Hint:Β  In determining the magnitude of omitted variable bias, consider how strongly related the omitted variable is to both the dependent and independent variable in question.)

  1. In an equation for the demand for peanut butter, the impact on the coefficient of disposable income of omitting the price of peanut butter variable. (Hint: Start by hypothesizing signs.)
  2. In an earnings equation for workers, the impact on the coefficient of experience of omitting the variable for age.
  3. In a production function for airplanes, the impact on the coefficient of labor of omitting the capital variable.
  4. In an equation for daily attendance at outdoor concerts, the impact on the coefficient of the weekend dummy variable (1 = weekend) of omitting a variable that measures the probability of precipitation at concert time.

4. Assume that you’ve been hired by the surgeon general of the United States to study the determinants of smoking behavior and that you estimate the following cross-sectional model based on data for all 50 states (standard errors in parentheses):

    1. Develop and test (at the 5-percent level) appropriate hypotheses for the coefficients of the variables in this equation.
    2. Which variables might be candidates as irrelevant variables? Why did you choose these variables?
    3. Omitted variable bias may be impacting the slope coefficient for cigarette consumption. Explain why we might think this is so.
    4. One of the purposes of running the equation was to determine the effectiveness of antismoking advertising on television and radio. What are your conclusions?
    5. The surgeon general decides that tax rates are irrelevant to cigarette smoking and orders you to drop the variable from your equation. Given the following results, use our four specification criteria to decide whether you agree with her conclusion. Carefully explain your reasoning (standard errors in parentheses).
    6. In answering part e, you surely noticed that the figures were identical. Did this surprise you? Why or why not?

 

 

 

 

 

 

Complete the reading of Vaughn, chapters 16-18. Decide which ETHICAL DILEMMA you wish to discuss.

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M07 Discussion – ETHICAL DILEMMA – ch16.

  1. Complete the reading of Vaughn, chapters 16-18.
  2. Decide which ETHICAL DILEMMA you wish to discuss.

Using the navigation buttons on the left side of the screen, find THREE jobs that interest you. Once you click on the navigation button, more specific jobs appear. Summarize your findings, especially the job outlook section. Are you surprised by this information? Did you find this “field trip” interesting? Share you thoughts.

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Wk 7 discussion

Virtual Field Trip. Go to the Bureau of Labor Statistic Website and review the Occupational Outlook Handbook (Links to an external site.) Using the navigation buttons on the left side of the screen, find THREE jobs that interest you. Once you click on the navigation button, more specific jobs appear. Summarize your findings, especially the job outlook section. Are you surprised by this information? Did you find this “field trip” interesting? Share you thoughts.

Describe your client to a public audience Outline your client’s orientation and commitment to sustainability Create a clear picture of what your client has done or is doing so that, later on, you can point to the gap where your team and project idea fit in.

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INDIVIDUAL Client Research

Reasoning and Required Information

  • All communication artifact submissions must be accompanied by this Logic Form, which describes your reasoning and will appear at the beginning of your assignment submission.
  • All communication artifacts must be developed with your audience, The General Public, at the forefront of your choices.
  • All communication artifacts are expected to be engaging and thoughtful.
  • All communication artifacts must be clear, easy to read, and easy to see (e.g., no images or text should be too small to see/read at regular viewing/engagement parameters for the given artifact)
  • All communication artifacts must be developed according to the parameters of the artifact
    • For example, a handout must be developed in a way that makes sense for being physically held, read, and handed out.
    • For example, an infographic created with the intention of printing it as a poster must be developed in a way that makes sense for being hung and viewed in public areas; an infographic created to live online must be developed in a way that makes sense for online engagement, scrolling, linking, animations, etc.
  • All communication artifacts must include references, and links when appropriate
    • References may be in whatever style you choose (e.g., MLA, APA, IEEE) as long as you are consistent.
  • All communication artifacts must fulfill all of the required aspects described in the “Purpose” section above, as well as listed below:
        1. Demonstrate a clear understanding of your client, including:
          • Background and History
          • Purpose, Goals, and Values
          • Demographic Makeup
          • Commitment to Sustainability
            • E.g., past, current, or planned projects, public statements, pledges, actions, etc.
        2. Describe your client to a public audience
        3. Outline your client’s orientation and commitment to sustainability
        4. Create a clear picture of what your client has done or is doing so that, later on, you can point to the gap where your team and project idea fit in.

Compute sample means for one or two numeric variables broken down by some of the categorical variables using pivot tables. What insights can you find? What strengths or weaknesses in this organization did you uncover? What management or policy recommendations would you make based on your statistical results?

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DISCUSSION

Task 1
Dig further into the data set jobsatisfaction.xlsx Look for more summary statistics beyond what was asked in the homework assignment. Compute sample means for one or two numeric variables broken down by some of the categorical variables using pivot tables. What insights can you find? What strengths or weaknesses in this organization did you uncover? What management or policy recommendations would you make based on your statistical results?