Introductory Economics Cheatsheet

Problems by Command 1. Information collection 2. Principal-agent 3. Disagreement among multiple decision-makers. Arrows impossibility theorem. problem of voting. 4. Enforcement Coordination by merchandise Princes as signals of scarcity/abundance Induces coordination Requires much less info No enforcement be No principal-agent problem No problem with multiple decision makers Qualification some command systems knocked out(p)live within a grocery (eg firms) Public Good Has escaped-rider problem due to non-excludability. Can only be provided by a coercive authority that advise force users to pay for these goods. Taxes. Collective GoodsProvide benefits for a group. Cartels and Unions Has free riding problem. Prevent by sanctions Common Resources Non-excludable but exhaustible Natural resources goods Lack of well-defined prop rights encourages overuse. The tragedy of the commons. elucidate by asserting ownership rights over common resources. Coarse theorem Markets generate themse lves for situation transfer that internalize externalities. Adverse selection & Moral hazard Market cost based on expected quality Reward people for non maintaining quality High quality sellers drop out Cycle continues Market collapse FDI promotes technical schoolnology transfer without moral hazard.Equilibrium no one has an incentive to variegate their behavior. Price ceiling Cause a shortage due to excess contract Leads to rationing or preferential all toldocation, long queues, inefficiency. Those who do get will benefit from the lower prices. Price floor Eg nominal wage Only those workers who dont lose their jobs benefit from the higher wages. Consumer surplus When price goes down, CS increase due to 2 reasons. Existing buyers pay less. More buyers atomic number 18 able to image market. manufacturer surplus Markets select low cost suppliers. Only those whose costs of production are below the market price enter.When price goes down, marginal seller drops out. When pric e goes up, PS increases due to 2 reasons. Existing manufacturer get a higher price. More producers can enter. Total welfare = CS + PS Govt interpellation decreases this Factors of demand Income & switching effect commute in tastes Expectation of future prices Change in telephone number of buyers Factors of put out Change in technology Change in input prices Expectation of future prices Change in number of sellers Elasticity Price elasticity of demand for a good is the % change in demand when the goods price falls by 1%. Elasticity along a linear demand curve decreases with a decrease in price.Factors affecting elasticity of demand tally of substitutes/whether the good is a necessity/time frame/broadness of category Income elasticity of demand is the % increase in its demand for a 1% rise in income. Indifference curve Non-lexicographic and non-satiation Convex to melody preference for var. Cant cross each other due to consistency and transitivity bare(a) rate of substituti on(MRS) Negative of an indifference curves slope at any augur tint to the ratio of marginal utilities of the 2 goods at that point Slope of budget line is the negative of the coitus prices of the 2 goods.At tangent, slope of budget line and slope of indifference curve must be equal. MRS= coitus prices at this point The ratio of marginal utility to price is equal for both goods at the point chosen (equimarginal principle) Income and substitution effect Cost curve AFC=TFC/Q, AVC=TVC/Q, ATC=AFC+AVC AFC declining with Q. AVC first falls then rises. U shaped. acclivitous marginal cost. When MCMC. No supply curve. MC Pricing P=MC, lead to losses for natural monopoly, which govt can subsidize. But tax has its own deadweight loss. P=ATC , nobody acquire. Alternative, public ownership Price discriminationIncrease monopolist profits First level extract entire CS, socially optimal but unlikely Second degree Charge buyers based on observable characteristics Third degree separated mark ets Quantity rejects Contestable Market No barrier to entry Maintain monopoly only due to the fact that it entered first P=MC, zero economic profits Durable Goods Monopoly MC=0 Compete against its future price Cartels and collusion incentive that monopoly profits are higher Each has an incentive to sell more than the agreed amount, resulting in a collapse of the agreement. Bertrand duopoly Assumption constant MC.Equilibrium at AC=MC. Naive thinking and no capacity backwardness and price easily adjusted Sweezy model Each firm assumes that if it cuts its price, this will be matched by all its rivals while if it increase its price, it will not be matched. Perceive demand curve to be truly inelastic below the existing price and very elastic above existing price. Result in price rigidity Reverse kink Each firm assumes that its price increases will be matched by all rivals, while its price cuts will not. Demand curve becomes elastic below the existing price as the cut speedily increas es the demand for this firms product.Inelastic above the existing price. Result in price instability. Likely during depression. Competition in output Cournet Model Supposes wrongly that other firms will not react to its own output decisions. Will not result in zero-profit outcome. MR=MC. Monopolistic competition elephantine number of sellers with differentiated products No barriers to entry Each firm faces a downward sloping demand curve Short run, try to max profits by MR=MC. Due to free entry, more firms enter in long run as long as positive economic profits are made. Shifts demand curve to the less are market share reduced. Long run symmetry, P=AC.Not at minimum of AC curve, thus inefficiency as each firm has excess capacity. Provide more variety though. Game theory Dominant strategy equilibrium No incentive to deviate as no(prenominal) of the players can do better by choosing a different strategy. Nash Equilibrium Each player has no incentive to deviate by himself. Each gues s what other player choose. Coordination problem Multiple equilibrium Solve by convention Focal point higher payoff for 1 equilibrium Zero-sum gameys Solve by maximin rule maximize his minimum payoffs. Repeated games Grim trigger strategy cannot work if the game is repeated a known finite number of times.If infinitely, can sustain if they do not discount the future heavily(sufficient weight to future punishments). Discount factor 1/3. Sequential game Backward creation work backwards to solve Subgame perfect Nash equilibrium additional property of ruling out renounce threat GDP the market value of all final goods and services produced within a orbit in a given period of time Relies on market prices Includes market value of the sprout of services from durable goods Miss out value of non market services Excludes transfer payments Consumption + investment + Government spending + Net exportY=C+I+G+NX GDP deflator = (Nominal GDP/real GDP)* one hundred GDP per capita flawed as a welfare measure as it excludes value of leisure, clean environment, and safety. consumer price index measures the cost of a fixed basket of goods bought by a typical consumer. Overstates cost of living because of substitution bias. Introduction of new goods and thus increased living standards is not reflected. Quality changes is not measure. GDP deflator includes goods not bought by typical consumer. CPI includes imports. Real interest=nominal interest inflation Productivity is a key to speedy growth. Physical hoodHuman capital Natural resources Technology Y= AF(L, K, H, N) Productivity is given by Y/L = AF(1, K/L, H/L, N/L) Technology progress continuously expands the resource frontier. Phases of rapid growth have occurred when a technological innovation opens up a new elastic supply source. Eg Industrial revolution, Railway boom, IT. Policies to promote growth Encourage savings and investment. Diminishing marginal productivity of capital implies that high saving will no longe r lead to fast growth beyond a point. Convergence effect. Encourage FDI. Builds up physical and human capital accumulation.Has learning effects through tech transfer and positive externalities. Education. Secure system of property rights Lack of corruption or political instability Pursuing free trade Population growth can lead to lower capital-labor ratio which king decrease productivity Also inefficiency in human capital accumulation as same educational facilities spread thinly Large families may keep woman out of labor force which reduces rack up productivity C and IM tend to increase as national income rise. So C= C+cY, IM=IM+mY where c and m are marginal propensity to consume and import. An increase in GDP of $1 increases C by c and IM by m. c,m

Corporate analysis research paper for Marvel Entertainment Essay

Research and Discussion Topic studio apartment Entertainment & Media NetworksImagine time traveling within the last few decades even present day and asking a young boy who he looks up to the most, or who he wants to be when he grows up. Unsurprisingly, he would blurt out, Spiderman, iron out Man, or The fabulous Hulk These superheroes are only a few of the thousands of inspirational characters admiration Studios has created in the last 70 years. admiration World Wide Inc. is a media and entertainment-based company with an emphasis on consumer products, gaming, and film production. This company was founded in 1939 by Martin Goodman who initially called Marvel, durationly amusings (Wright). In the 1940s not only did convictionly Comics ( presently Marvel) create superhero fantasies they too expanded into a wider variety of stories, including horror, westerns, funny animals, mysterious crimes, war comics, jungle tales, romance, and even Bible and free rein stories. This tren d for genre expansion started to decline when the company noticed a huge consumer interest in their superheroes. They started to focus on turning normal misfit people into super natural creatures. Giving hope and design to children, they, too, can be educe super. Unlike rival comics that based their superheroes on perfection, glamour, and staying within national borders. Marvels stories dealt with political issues, diversifying their savior of choice, and educating their audiences.When it comes to technology Marvel has expanded its horizons exp onentially since its first comic books in the tardily 1930s. For Marvel, technology in the creation of films has been the trigger for their upward mobility of success. From using flipbooks to bring movement into the characters we now possess the innovation of Chroma Key Compositing (green screnes) to breathe life within our icons. With this revolution artist can now create the most elaborate worlds and unlimited high pace scenes. Thank goo dness, or we wouldnt surrender a planet after all the battles in todays movies. Not only has Marvel made a complete turnaround on the way people view the clash of superheroes and scoundrels through film they have globalized their characters through merchandise, games, and entertainment. A large expansion has recently been released at Hong Kong Disneyland announcing the addition of The compress Man Experience in 2016. This Marvel themed ride will be the first of many tocome into the parks. (Disney Parks Blog) Of course, in every superhero story in that respect will always be a villain to face. In the corporate world, the villain company for Marvel is DC Comics owned by Time Warner, Inc. Time Warner Inc. is a multi-national media corporation headquartered in New York City. As of 2010, it is the largest media and entertainment conglomerate and it is second largest conglomerate as for revenue. Time Warner is compiled of Warner Communication Inc., Time Inc., and Turner Broadcasting System Inc. This corporation excels in film, television and publishing. Time Warner Inc. owns HBO, The CW Television Network, Warner Bros, CNN, Castle Rock Entertainment, DC Entertainment, etc. DC Comics is a publishing unit from DC Entertainment and does extremely well at operating the American comic book market luck as well as relating media. It produces well known characters such as Superman, Batman, Wonder Woman, Green Lantern, Flash, Aquaman, jurist League, Teen Titans and some villains including the Joker, Catwoman, Lex Luthor, etc. The Walt Disney caller-up strives to excel in quite a variety of dissimilar segments. Of course, being a successful and global corporation, it generally comes with tough competition. It is the largest entertainment conglomerate as farthest as revenues (with Time Warner Inc. as a close second place). One of the five segments of The Walt Disney Company includes Studio Entertainment, which through Walt Disney Studios (formally known as The Disney Bros Cartoon Studios) the company does an excellent job by producing multiple divide winning films throughout the decades. At the end of 2009, the Walt Disney Company purchased Marvel Entertainment for $4 billion. both Walt Disney Studios and Marvel Studios are now working in conjunction for marketing and distributing matters. Marvel Studios produces characters such as Iron Man, The Incredible Hulk, Thor, Captain America, Fantastic Four, X-Man, Spiderman, etc. Now, if you arent a comic book superhero geek, and then youre perfectly okay In certain ways, The Walt Disney Company and Time Warner Inc. are evidently similar. The Walt Disney Company foc physical exercises on 3 main priorities technology, innovation, and global expansion. Time Warner Inc. also focuses on these same priorities as well, although portrayal these qualities through a assorted aspect. Both technology and innovation are displayed through various levels and variant types of creativity, from both of these compe titive entertainment studios. For example, disparate plots make innovation opportunities for both types ofsuper heroes. The DC Comic superhero villains dont tend to killwhereas, the Marvel Comics do. Marvel characters are usually pretty unproblematic coming from simple backgrounds. The DC characters on the separate hand, usually are more detailed with different super powers and more fantasy characteristics. Technology comes into play when Marvel Studios tend to use more graphic and uses light science fiction when creating their films. DC Studios tends to obtain a higher sci-fi storyline and image. At the moment, because Marvel Studios is a part of Disney, it makes it easier as far as global expansion goes. Currently, there is a new Marvels Iron Man attraction said to be inception in 2016 at Disneyland Hong Kong. It will be an addition to the Stark Expo, which is in Tomorrowland. Because the Disney and Marvel Studios collaboration is lock in quite new, this is mostly likely ju st the beginning of the Marvel Entertainment expansion. DC Comics on the other hand, has an annually comic book fan convention (Comic-Con). Each year, it is based in a different hosting city. In 2012, it was based in New Jersey and Comic-Con 2013, was hosted in Utah, in Salt Lake City. The next one (in 2014) will be held in California, San Diego. Sometimes there will be more than one event. Usually, there will be one within the United States and in past years, there was also a convention held in Canada and United Kingdom. As you can see, the 3 main priorities (technology, innovation, and global expansion) are lucidly very important to both Marvel Studios and DC Entertainment and their parent corporations (The Walt Disney Company and Time Warner Inc). Both competitors are changing the film and entertainment industry rapidly and it will be a secret as to see what the future beholds.ReferncesComic-Con International San Diego. Comic-Con International San Diego. 2013 San Diego Comic Co nvention, 2013. Web. 25 Oct. 2013. http//www.comic-con.org/DC Comics Welcome to DC Comics. DC Comics. Warner Bros. Entertainment Company, 2012. Web. 25 Oct. 2013. http//www.dccomics.com/Staggs, Tom. Disney Parks Blog. Marvels Iron Man coming to Hong Kong Disneyland in 2016. Disney, 08 Oct 2013. Web. 25 Oct. 2013. . Superhero Nation How to Write Superhero Novels, Comic maintains and Superhero Books. Superhero Nation How to Write Superhero Novels, Comic Books andSuperhero Books. 2012. Web. 25 Oct. 2013. http//www.superheronation.com/Wright, Bradford W. (2001). Comic Book Nation The Transformation of Youth Culture in America. The Johns Hopkins University Press. p. 57. ISBN 978-0-8018-6514-5.

English Essay Example | Topics and Well Written Essays - 750 words - 17

English - Essay ExampleThere are advantages and disadvantages to fluid speech sound technology, and pros and cons can be explored to find a good balance.Just ten or twenty long time ago, mobile phones were being dismissed as a fat or a passing phase. still today, everyone has to bind the latest phone. Most tidy sum have the latest mobile and their own reasons to have their mobiles in their hands. The young generation seems to have more of these mobile phones than anyone else. It allows making and receiving calls and text, playing games, surfing the internet and hearing to music. Often, all of these tasks are in one machine, so that there is integration. The features that attract the users to mobile phones are that people like ringtones, mp3, wallpapers, camera, video recordings, picture messaging (MMS), and Bluetooth mobile technology. These technologies are constantly evolving, and making communication hurrying and better between people. Unfortunately, it is not always cheap. But mobile phones can also be affordable, such(prenominal) as pay-as-you-go plans and simple phones without a lot of internet or 3G/4G extras. If you want to imagine the importance of mobile phones to people, just ask them to leave their phones separate from them for a day, and then see their reaction. That shows how people became dependent on their mobile phones. According to a survey that was done In Germany there were used to be 2.4 trillion mobile phones in 1994 but in 2007 it has increased to 97.4 million and now worldwide it is about 3 billion (Alexander, 2008). This shows a short period of step-up but a very rapid growth in the amount of people using wireless phone. Especially with the introduction of internet-capable cell phones, people have been expanding their options.Mobile phones made the life of each person that uses it is easier, fast and more comfortable, it allows a person to pacify in touch with his family, friends whenever and wherever they need to. It is

Convergence between GAAP and IFRS Essay Example | Topics and Well Written Essays - 1000 words

Convergence between generally accepted accounting principles and IFRS - Essay ExampleFurthermore, consideration in respect of pecuniary statement presentation and business combine is required signifi corporationt converging (Kaiser et al., 2012). Challenges and Benefits of Convergence As far as the convergence is concerned, it can be observed that US public listed companies will be benefitted more if they adopt IFRS as an obligation from SEC. on that point are various difficulties as well as benefits of betrothal of IFRS as a means of convergence. The major(ip) difficulty that may arise due to such convergence is the transition of financial statements from US generally accepted accounting principles to IFRS. The transition will cause a significant change in both the financial proceeding and financial position of the entities. There is likelihood that the entities may not be able to present intermit financial results due to such convergence which, otherwise they would have pr esented in case of applying US GAAP. However, the advantages of convergence still supersede the challenge of transition of IFRS by US listed entities. Some of these advantages are discussed as nether The first and foremost advantage of convergence to a single accounting framework is the comparison. The benefit of comparability can be illustrated by dint of an example. For instance, if a US entity plans to be merged with a European counterpart, the divulge arising for both the satisfyings would be of comparability. The US firm would be following US GAAP and European firm would be applying IFRS. In such case, both the financial statements cannot be matched with each other, as the accounting frameworks are different. Under US GAAP, inventories are valued at LIFO whereas IFRS asks the entities to use FIFO. For that matter, one of the entities would have to retell its financial statements according to the counterpartys accounting standards. The element of comparability can facilitat e the international investors specially those who are interested in the stocks of listed entities. The uniformity of the accounting framework across the orchis can encourage them interpret and compare the financial statements of those companies which are located in different geographical boundaries (Shamrock, 2012). This would make the financial statements more comparable across the globe and would result in an increasing investors base. Comparability of financial statements can lead to increase in the inclination of international investors to participate actively in the global law markets as this step can simplify the cross border investments along with amalgamation of different justice markets. Increased liquidity and reduced cost of funds are the additional benefits that can be reaped through comparability. In short, there would be increased access available to the US MNCs to reach across the globe and utilize their resources in an efficient manner. The second most important benefit available to US entities regarding the adoption of IFRS is the reduced cost of financial reporting. Since these are the costs which US multinational companies have to face because their trading operations are spread widely across the globe and they have to prepare and translate the financial statements as per jurisdictions applicable financial reporting framework, thus causing increased cost of financial reporting. If US entities are obligated to adopt IFRS, it would result in the

Writer's choice Case Study Example | Topics and Well Written Essays - 1250 words

monetary Crisis, Home owes, Financial Institutions and Adverse Selection - Case Study ExampleThe obvious association between the two comes from the circumstance that the owe market contraction, which in many countries evolved into a recession in 2008-2009, was led by intense use of certain complicated financial instruments such as CDOs and CDSs in the United States and other countries.It should be recognized that virtually any financial product holds dangers and raise be improperly used. Potential problems ar likely to increase the complexity of the instruments, the insufficiency of nurture conveyed by sellers, and the lack of due diligence on the part of investors (Carey, 2009). The huge mortgage securitization of current years seemingly had poor performance in the areas. Mortgage securitization in the successful years did not bring any help to reduce the problems that occurred in information that are characteristic of credit transactions. Appropriate risk assessment did not induce the same characteristics. mathematical function of securitization in mortgage lendingThe roles of securitization in mortgage include barking up securities, collateralized debt obligation and structure invested vehicles (Barger, 2008). In todays setting, one that gets a loan is likely to sell the loan to a tierce party which can be government agencies, an institution in the private sector or government-sponsored entities. The mortgage is then sold with payment rights to the investors. The process can be long as the mortgage can be sold to several other people. The process is what is referred to as securitization. The main role that is played by the process is a conversion of mortgages to mortgage-backed up securities. In mortgage backed up securities, the payments that are make are based on collection from individual mortgages.Mortgage-backed securities were supposed to be sound investments as they were rated by genuine rating agencies. The securities, however, did not happe n as planned and the hazard led to the crisis.

BIOCHEMISTRY CRITICAL REVIEW Essay Example | Topics and Well Written Essays - 750 words

BIOCHEMISTRY CRITICAL REVIEW - Essay ExampleThe merit of RNA lies in its rapidity of expression (Kim and Eberwine, 2010).The main demerit of RNA is its transient nature however, this may be controlled exploitation stabilizers like StabiLizingUtr (Hayashi et al, 2010) but no such controlling factor was seen in the observational protocol of Jankowska et al (2008) risking the expression period and genome integration (Kim and Eberwine, 2010).The transfection efficiency reported by Jankowska et al (2008) was about 30% apply Lipofectamine 2000 transfection cationic liposome based reagent which is considered a highly efficient reagent (Dalby et al,2004) and has the capability of enhancing transfection efficiency in even sick infectable cells such as CD34 (Byk et al,1998). Substitution of Lipofectamine2000 could have been done with 7.5% pegylated Lipofectamine which also produces high levels of expression (Decastro et al, 2006). The efficiency of transfection in the HeLa cells could have been increased development novel microfluidic sonoporation system which gives an efficiency of about 68.9% with 77% cell viability chain mail insonication (Rodamporn et al, 2011).Verification of presence of hCG was done my immunohistochemical analyses using primary antibodies since immunohistochemistry is an important tool for biomarker detection (Luongo de Matos et al, 2010). primitive antibodies are used today for various analyses (Lipman, 2005). Detection was done in this experiment by using primary antibodies against hCG and the antigen-antibody complex was detected using flurophore, Cy3-conjugated antibodies. Primary rabbit polyclonal antibodies were used in the experimental protocol which was not absolutely specific for hCG thereby increasing chances of non-specific binding. Polyclonal antibodies leads to cross-reactivity between divergent antigens (Frank, 2002).In the experimental protocol blocking buffer was used to reduce the non-specific binding and was

Analysis & Critique of The Third Angel Book by Alice Hoffman Essay

Analysis & Critique of The leash nonesuch Book by Alice Hoffman - Essay ExampleThe third story is about Maddys fuck off Lucy. At the tender age of 12, Lucy was forcibly pulled to attend the wedding of her stepmothers sister. Half-heartedly Lucy attends the wedding with no joy, unhappy face and an unrest soul. The novel revolves or so the sweetness of love and the sheer bitterness of heartbreak filled with a triumph of hope that makes every individual hopeful for a bright rejoicing day after a dark stormy night. Critical Analysis of the Novel Alice Hoffman has intelligently interlocked troika stories together in a single book, though each story sounds about a contrastive individual but somehow all the three characters of this novel are cleverly linked with wiz another(prenominal). The thirdly apotheosis is all about love and betrayal, hope and misery, happiness and sadness that haunts around and in spite of appearance the Lion Park Hotel as ghosts shouting and screaming in madness. The room 707 in the hotel always makes the aim of the ghosts be felt through their angry voices shouting high right at 10.30 p.m. Alice Hoffman has set the events victorious place in different years 1999, 1966 and 1952. ... A person may lack words to explain the authors efforts in maintaining the flow of the story without distracting the mind of the reader. The author has showed her efforts that how skillfully she has managed to keep the footstep of a novel. The characters can be seen going through the rough patch in their lives, sometimes appearance as innocent as a little child and sometimes cruel enough to be betraying their loved ones. They are living with their suffering souls that sometimes they transform into Third Angel as draw by Friedas doctor father. Frieda remembers her father as a serious, practical but a lovable man. Her father used to take her on his house calls, where he tells her about the three angels the Angel of Life, the Angel of Death, and then there is another Angel, who is known as the Third Angel. He tells Frieda that the Angel of Life and the Angel of Death ride with him when he makes a house call but then there is another third angel, who is a mysterious one the doctor tells Frieda, You cant even tell if hes an angel or not. You infer youre doing him a kindness, you think youre the one taking care of him, while all the while, hes the one whos saving your life. Alice Hoffmans characters are complicated to understand. They love and then they betray their loved ones or even sometimes, they end up betraying themselves. But these characters possess some heroic traits in them. They learn how to mend their broken souls and sometimes, without our knowing they become, the Third Angel. They learn kindness, compassion for their loved ones, for those whom they betray and for themselves. Main Themes of the Novel The main themes of the novel revolve around life and death and about loving someone with all your heart and