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Sample Essay on How to Gain the Promotion at Work

officeJob promotion is one of the troublesome issues that people face. Why not cover this problem in your assignment? This article will help you make up a good idea for your own college paper.

Most people start at the bottom but it is rarely the end goal. Getting a promotion is the main goal of most people. Not only does it mean a bigger paycheck, it also comes with a higher level of respect and responsibility. You have all the qualifications but how do you make sure the promotion goes to you? Start with planning!

Plan to improve your skills. A new skill set will open doors so consider going to school for an additional degree (W., n.d.). Options for night school classes are astonishing and although it may take you a bit longer than being full-time, the benefits at the end will be more than worth it.

The saying “dress for success” should be taken literally. When an employee dresses well for work, it shows that they take pride in their job and have an exceptional level of professionalism (Maye, 2013). It may be only a little thing but it is often the little things that get noticed.

When the clock starts, it is time to get serious (Adenle, 2009). This does not mean you can’t crack a smile during the day or have fun. It means that you must be able to turn your attention to your tasks. Minor mistakes are often made due to lack of attention. Being laser-focused on the work you must complete will eliminate errors and improve consistency.

Promotions rarely just fall into someone’s lap. To be promoted, the right people need to be aware that you want to be promoted. Although companies usually promote internally, they also look at external resumes (Smith, 2013). Competitors coming for an interview will be at their very best so it is crucial you do the same. Most managers make it their business to ask employees where they see their career path heading. Don’t be afraid to state your goals, even if they didn’t ask you first (Hanson, n.d.). Managers will pay more attention to a promising self-starter than to the quiet, almost invisible employee who keeps to themselves in the corner. Aside from that, you have to give it your best effort.

To get what you want, you must work hard for it (Prolific Living Inc., 2014). Simply doing no more and no less than what is expected is not good enough. Get to work early every day, even if it’s only 5 minutes. Stay ten minutes late at night to finish that important task. Volunteer to take on projects other employees have turned down. Doing this shows perseverance and dedication. Finally, you need to be personable.

Most importantly, have a friendly and positive attitude that shines through to everyone you interact with (Hudson, n.d.). Challenge yourself to do better every single day. If you follow these suggestions and constantly improve on everything you do, your promotion is going to be right around the corner!

References:

  • Adenle, C. (2009). How to Succeed and Gain Promotion at Work. http://catherinescareercorner.com/2009/08/20/how-to-succeed-and-gain-the-promotion-you-want/
  • Hansen, R. (n.d.). Moving Up the Ladder: 10 Strategies for Getting Yourself Promoted. https://www.livecareer.com/quintessential/getting-promoted-strategies
  • Hudson. (n.d.). How to Get Promoted. https://ca.hudson.com/getting-a-promotion
  • Maye, V. J. (2013) 7 Steps to Getting Promoted. http://www.chicagotribune.com/business/careers/sns-jobs-steps-promotion-story.html
  • Prolific Living Inc. (2014). 8 Reasons You Are Not Getting Ahead at Work. (And What to Do About It). http://www.fasttrackpromotion.com/getting-ahead-at-work
  • Smith, J. (2013). 16 Mistakes Employees Make When Trying to Get a Promotion https://www.forbes.com/sites/jacquelynsmith/2013/10/24/16-mistakes-employees-make-when-trying-to-get-a-promotion/#fb4819b35f15
  • W. (n.d.). How to Get a Promotion: 11 Steps with Pictures. http://www.wikihow.com/Get-a-Promotion
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Top 5 Best and Worst Paid Jobs for Women

businessNobody wants to work for free but sometimes women work for next to nothing. Historically, the gender pay gap has averaged about 20% less in earnings for women than for men. It can be challenging to find a job you love and lets you live comfortably. If you are getting ready to enter the workforce, or if you are considering a career change, look at this list of the top five best and worst paid jobs for women!

Top 5 Best Paying

  1. Chief Executives: While more males than women hold these positions, Forbes ranked this as number one on their list for women. Women in the US hold over 300,000 of these titles but men still bring in a paycheck about 22% higher.
  2. Lawyer: The legal profession has been seeing an increase in female bar exam applicants. Lawyers can choose to work be self-employed or freelancing, or, at an established law firm.
  3. Pharmacist: Although men still are the high earners in this profession, women dominate it. Around 60% of all pharmacists are women, earning just under $100,000 per year.
  4. Nurse Practitioners: Almost totally dominated by women, the average yearly paycheck is just over $90,000.
  5. Tech and IT: There are many subsidiaries of this profession, including software development, IT managers, engineers, and many others. Average base salaries are a respectable $50,000+ per year.

Top 5 Worst Paying

  1. Physicians and Surgeons: Women are now widely accepted in this field but men still make much more. On average, women earn 37% less for performing the exact same procedures.
  2. Insurance Agents: All the sales field professions see males leaving females in the dust when it comes to earnings, but women are extremely outclassed in this category. On average, they are only earning roughly 40% of what men do.
  3. Financial Advisors: Women are not well represented in this field, with only about 35% of financial advisors being women. This occupation also had the largest pay gap between men and women, with women bringing home a paycheck around $700 less per week.
  4. Auditors and Accountants: This field is still male dominant and it shows in the gender pay gap. A man receives, at average, $1400 per week, while a woman doing the same job brings home roughly $1000.
  5. Instructors and Teachers: The teaching profession has long been thought of as a job for women. Today’s society has seen that change with more men entering the profession than ever before. Unfortunately, this has not given women a leg up in the pay department. Men still reportedly earn around $1100, while females only have $800 in the end of the week.

Gender bias on the pay scale is slowly changing in some occupations while it is getting worse in others. However, this does not mean you should settle for less. Whichever career you choose, make yourself indispensable and work hard to prove you are worth the same pay as the guy at the desk beside you!

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5 Must-Remember Tips Not to Run out of Money in Retirement

moneyWhile attending school, your main financial concern probably is paying for school or cutting student loans. Not very often students start thinking about retirement savings – a rookie mistake. You can never save for your retirement too soon. Why? The fearful potential running out of money in retirement is scary. Unfortunately, because of health care or nursing home costs, a rapidly dwindling retirement fund is a reality for some people. Here are some helpful tips you can follow as preventative measures!

1. Start Saving up

Cash, even a small amount here and there, adds up! At the beginning of every paycheck, have a certain amount automatically transferred to a savings account. If you saved $100 a month for 50 years, you would have $60,000 (not including any interest offered by your bank) in savings alone! Don’t dip into the account unless it is an absolute emergency.

2. Be Conservative in Spending

The less you spend, the more you can save – plain and simple. Although you don’t have to feel guilty about using excess money for pleasure, try to save a little bit to add to your savings if possible. If you put $20 dollars of your excess spending money in your savings for 50 years, you will have an additional $12,000 on top of your savings!

3. Get a Part-Time Job

Whether you are too busy for full-time work or are already retired, you can take on a part-time job for extra cash to add to the savings. Maybe you can work at your favorite store or earn money off your hobby. If you could make $400 a month part-time, you can save (not including withheld taxes) $4,800 a year!

4. Invest and Monitor Mour Assets

Stocks are a smart way to increase your finances without having to do work. A home is also a valuable asset to have – as long as you keep it market-ready. It is important to monitor your assets at least monthly to ensure they are in good status. You can hire professionals to help you monitor and move forward with any decision making.

5. Postpone Collection Social Security

It may be tempting to start collecting your social security checks when you “come of age”. However, you have the option of holding off which might not be such a bad idea. You can start collecting your social security income when you retire, giving you a chance to prolong the savings you have. Depending on your situation, a part-time job might be enough to hold you over until the time is right.

In the next fifty years, if you follow the proposed plan, holding onto excess money, and contributing a year of part-time work money, you would have approximately $76,000. Now thinking about adding that to a 401k plan, social security checks, and the interest you may get… Start saving for retirement now!

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Sample Essay on Unemployment: What Leads to It and Who Is Guilty?

formOne is always looking for someone to blame for all the misfortunes and failures, especially when it comes to job vacancies. There is a common idea of an American dream, according to which everyone has a job and is satisfied with how he/she lives and what he/she does. But the reality is far from being that perfect: unemployment keeps growing evoking depression and poverty among young and old.

Nevertheless, there’s more than just one reason for unemployment both in this country and around the world:

  • economic recession
  • changing technology
  • welfare payments
  • job dissatisfaction
  • economic inflation
  • racial discrimination
  • employee values

Regardless of the reason, experts agree to the idea that unemployment is a kind of a disease that affects countries regardless of their status. For example, the United States of America that people are hurrying to migrate to takes one of the leading place in the world unemployment statistics. Poor people are trying to make money in different ways. And it is tough to say, whether they manage to succeed even once in a while.

The above-mentioned reasons are called classic. Who is the one to blame? You won’t find a single person, who has triggered the process. But it’s the politics, groundless decisions, and a strong desire to show oneself rather than help that add to the common problem and its further development.

There is a list that differs from the one posted above. It shows why both large corporations and small companies can’t find matching workers even though there are so many people looking for a good job:

  • poor education: both the government and people do not take education seriously enough. Some graduates can’t defend what they have studied for years.
  • lack of skills: when a person is skilful, he/she can adapt to various conditions and environments. Such employee is ready to study even after graduation.
  • poor government plan: this cause is common in many countries. The government fails in minimizing unemployment and doesn’t care for the citizens.
  • poor moral: unfortunately, many people lose their jobs not because of their low competence, but due to moral actions.
  • corruption: it’s everywhere and when politicians use people’s money for their own needs instead of creating manufacturing industries, unemployment keeps growing.

One may say that this is the story about for people: Everybody, Somebody, Anybody, and Nobody. Everybody is to blame, yet nobody admits that. And even when there’s somebody, who is trying to help, does anybody appreciate that? It is a two-way street. And in most cases it is only up to an employed one to decide whether to keep moving or turn back and come to the place where it all has started.

References

  1. Amadeo, K. (2017). Overeducated and Underemployed: Thank You, Recession. The Balance. 17.
  2. Cappelli, P. (2012). Why Good People Can’t Get Jobs: The Skills Gap and What Companies Can Do About It. 23.
  3. Castells-Quintana, D., Royuela, V. (2012). Unemployment and Long-Run Economic Growth: The Role of Income Inequality and Urbanization. 153-173.
  4. Patton, M. (2015). The Five Highest Unemployment Rates in the World. Forbes. Forbes Magazine. 75.
  5. Structural Unemployment Crisis Stalking U.S. Economy. Reuters. October 6, 2009.
  6. Sullivan, A., Sheffrin, S. (2003). Economics: Principles in Action. 330.
  7. Vedder, R., Gallaway, L. (1997). Out of Work: Unemployment and Government in the Twentieth-Century America. 25-26.
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Sample Essay on Taxes: A Little Thing for Rich and a Small Fortune for Needy

tax invoiceTaxes in the USA take many different forms. While working and making money, one has to pay income taxes. While buying things at stores, one has to pay sales taxes. If one owns property, he/she pays property taxes. And so on… It is believed that paying taxes is a civil duty and the requirement of the law. But in real life by giving the earned money to the local, state or federal government, you deprive yourself of chances and possibilities for a better life. And, frankly speaking, not everyone pays.

Not everyone pays federal income taxes, they say. Let’s try to make things clear. When the low income earner has children, there are deductions allowed on the filing. In other words, if you are a low income earner, you may pay less or not pay at all. Today there are around 7.9% of all tax filers, who zero out their taxes:

  • people on disability
  • unemployed people
  • school students, who’ve just started their career

However, the income tax is only one of the taxes. There are many other tax types that come out of checks:

  • social security
  • local and state taxes
  • school taxes
  • real estate taxes
  • gas taxes, etc.

Working poor pay very high rates on every dollar earned. They don’t even get an extra penny from working additional hours. The current text code creates perverse incentives and has perverse effects. One can hardly call it a rational policy and the government is not likely to do a thing about that. Most workers have to bear the burden of employer-paid payroll taxes and the burden of corporate income taxes or at least their part. What about the rich ones?

They pay much more taxes than poor ones, in terms of the percentage of income and absolute terms. However, there is a different side that only a few people know about: the rich ones do not pay all the taxes. Many people agree that rich Americans have to have a moral obligation to pay much higher taxes as a sign of a ‘fair share’. There is an idea that as rich people get much more from the society, they should give more for the public welfare. But will it really help the society increase?

Perhaps there is no point in arguing what is right or wrong. The only clear thing is that the taxes shouldn’t be the same for everyone. They are to differ depending on the income. Only when each society member gives a fair part of the income, he/she can contribute to the development of his/her country. But if this ‘fair share’ becomes a burden that deprives of most necessary things, the society will hardly ever become a model to follow.

References

  1. Donaldson, S. A. (2007). Federal Income Taxation of Individuals: Cases, Problems and Materials. 28-32.
  2. Gruber, J., Saez, E. (2002). The Elasticity of Taxable Income: Evidence and Implications. Journal of Public Economics. 1–32.
  3. Haider, S. J., and David S. L. (2008). The Effect of the Social Security Earnings Test on Male Labor Supply: New Evidence from Survey and Administrative Data. Journal of Human Resources. 43.
  4. Lehmann, E., Marical, F., Rioux, L. (2013). Labor Income Responds Differently to Income-Tax and Payroll-Tax Reforms. Journal of Public Economics. 66–84.
  5. Reynolds, A. (2014). The Increasing Progressivity of U.S. Taxes: And the Shrinking Tax Base. 254.
  6. Saez, E. (2010). Do Taxpayers Bunch at Kink Points?” American Economic Journal: Economic Policy. 180–212.
  7. Stroup, M.D., Hubbard, K. (2013). An Improved Index and Estimation Method for Assessing Tax Progressivity. 22.
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Sample Essay on NAFTA’s Destiny: A New Trump’s Trade Policy

architectureIt all happened in 1994, when an agreement between the USA and Canada was signed to create the biggest free-trade area in the world. 4 years later (in 1998) Mexico has joined the agreement, too. For over 20 years NAFTA has been uniting the economy of the entire continent. However, when President Donald Trump has come into action, the entire project is under a threat. Does it have any future?

For many years D. Trump insisted that this sort of international trade is a kind of contest and our country loses it. As he became the president, he applied his efforts to reverse the way Americans play their trade cards. Trying to change the position of the States on the trade deals is one of the easiest ways. The new mission is to renegotiate NAFTA. But the thing is that the current political situation is already tense between America and Mexico due to the new border wall. And many experts keep asking, ‘What does the president really want?’

One of the biggest current complains about the agreement is that it practically kills employment of Americans. How so? It frees up many companies to splash the prices on goods by shifting the manufacturing task outside the USA. Trump feels a pressing need to tell the NAFTA partners that his country intends to renegotiate the agreement terms and get a much better deal for US workers.

The reality is such that the plans are straightforward only when the press is somewhere around and direct questions are asked. However, the president’s administration doesn’t have exact plans on how things will keep developing. They are still thinking on the demands during NAFTA negotiations. If the USA withdraw from NAFTA, restrict goods and trade with the partners, this will result in great costs to investors, producers, consumers, etc. The negotiating positions of Canada and Mexico have already hardened since the time the US took aim at dairy and softwood lumber supply management.

The most suitable outcome is a modernized treaty split into 2 parts:

  1. a bilateral US-Mexico trade deal
  2. a bilateral US-Canada trade deal

This option will allow the current administration to reverse NAFTA with no need to change the essence of the underlying substance.

NAFTA has always been one of the key points to be changed during the presidential campaign. Trump has called it ‘a bad deal’ more than once. Lately he called it a catastrophic trade deal for the States. But the idea of pulling out of this agreement scares both Democrats and Republicans. The countdown to renegotiations has already started. But the real question is whether they will be more successful for American citizens than the original NAFTA agreement of 1998?

References

  1. NAFTA: Final Text, Summary, Legislative History & Implementation Directory. (1994). 1-3.
  2. Anthony B., Piketty, T., Saez, E. (2011). Top Incomes in the Long Run of History. 3-71.
  3. Blecker, R. A., Esquivel, G. (2013). Trade and the Development Gap. Mexico and the United States: The Politics of Partnership. 83-110.
  4. Bartra, A., Otero, G. (2009). Contesting Neoliberal Globalism and NAFTA in Rural Mexico: From State Corporatism to the Political-Cultural Formation of the Peasantry. 92-113.
  5. Vogel, R. D. (2007). Transient Servitude: The U.S. Guest Worker Program for Exploiting Mexican and Central American Workers. 1–22.
  6. Porter, E. (2016). Nafta May Have Saved Many Autoworkers’ Jobs. The New York Times.
  7. Murray, R. (2016). The NAFTA Myth. 1-2.
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8 Highly-Paid Jobs You Can Apply for When Having an Economics Degree

marketingAn economics degree is almost in your pocket: written assignments are completed, tests are passed, and classes are over. What is your next step going to be? It is natural to start looking for a job right after a short rest. But the problem is that most graduates know little about their future possibilities and start wasting time on part-time jobs with no chance for promotion. Don’t become one of them.

Top Highest Paid Jobs for Economics Graduates

  • Economic Consultant
  • The job works for graduates with great research and analytical skills. They usually carry out various studies on economic scenarios, analyze the trends, help others to improve their performance and succeed or work for the government, finance/business/education/health care industries.

  • Financial Analyst
  • What does he/she do? The core task is to research the issues that influence the public, analyze them, and recommend various interventions (governmental or legislation) to address or influence them. An analyst possesses critical thinking skills, understands up-to-date problems, and creates solutions that are affordable.

  • Lawyer
  • Are you interested in preparing and trying cases? Then this job is for you! There is a whole bunch of law areas you could join:

    1. tax law
    2. corporate law
    3. personal injury
    4. antitrust law
    5. medical malpractice, etc.
  • Business Reporter
  • They do more than research. They also write and broadcast stories on the latest industry trends, business leaders, companies, financial markets, and economic developments. They act as journalists, who investigate really important cases in the field.

  • CFP or Certified Financial Planner
  • A CFP creates and develops client relationships via email, telephone conversations, face-to-face meetings, etc. The main responsibility is to access basic goals and needs of a client, develop and implement a financial plan that can fulfill all the mentioned needs and goals.

  • Commercial Loan Officer
  • The main job of a loan officer is to work with business clients and those, who are in search for options to start small business. As for responsibilities, they are concentrated around the maintenance and administration of loan consultations for the bank. A typical loaner assists in generating new business and accounts.

  • Senior Product Manager
  • He/she is the one, who handles oversight duties that are involved in getting a product from the concept to productivity stage. As this employee foresees market and customer demands, he/she maximizes productivity.

  • Market Research Analyst
  • The deep knowledge of industry trends is what characterizes a good market research analyst. He/she assesses how services and products will fare depending on the economic condition. A person is to be trained to gather information, analyze it, and design studies.

    Some people say that one with an economics degree in a pocket has a unique chance to get a great job and earn a lot. Real experts in finance and economics are needed today. Companies and corporations need someone to help them in solving issues and finding options for development. Why not become one?

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6 Essential Skills to Write an Economics Paper with Ease

procurement management jobsDo you really think that writing an economics paper is a piece of cake? As long as this is one of the most difficult subjects to study, writing it is even worse. Yet still, there are undergraduates, who manage, and do it pretty well. Are you one of them? Well, it is pretty hard to answer at once. Experts agree to the idea that you are to have some special skills to become a successful writer when it comes to economics.

Analytical Thinking Is Your # 1 Skill

Is it? Really? Then you will definitely succeed in writing. Much data must be analyzed during the processes of research and writing. No wonder, most researchers give up and choose different subjects as their majors or switch to easier topics. If analytical thinking is one of your strongest skills, be sure that your economics paper will be one of the best. If only not the best!

Critical Thinking Skills Are a Must

They go hand in hand with analytical thinking ones. The one, who deals with this sort of a paper, is not a usual writer but an economist. He/she uses logic along with reasoning and manages to cope with the most complex problems.

Information Collecting Skills

They say that an economist is as good as his/her findings. The findings always depend on the accuracy of all the gathered data. We believe that this skill is easy to develop and improve. How? The more you research and write, the better author you become. With time a writer learns a few tricks and knows how to find the needed data.

Attention to Details

It is easy to omit a detail that is significant and will eventually ruin your analysis and conclusion. To write a very good economics paper with ease, one should pay close attention to most details, figuring out which of them are essential and which aren’t.

Minimalism Is the Key

How so? Working on an economics paper is not the same as working on an essay. You need to be concrete and precise, make complex things simple, and turn tricky theories into comprehensible sentences. In one word: you are to be a minimalist.

Problem Solving Skills

There is a whole set of them. To cut a long story short, a writer is to manage to identify the problems that are complex, evaluate them, and then find the necessary solution. Even if you are a true minimalist and attentive to details, this may be useless if solving problems is not your strong point.

Economics is diverse. And that’s the reality. If this is the path you have chosen, you need to figure out which skills you already have and which you need to develop. A mysterious sphere may become your new home if you are not lazy and find more time to develop as a writer and grow as a professional economist. Becoming an economist will take time. But you have enough of it, don’t you?

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How to Create a Strong Financial Report

marketingWhat is a financial report? It is an information document that communicates strong and weak points of a company, helps to convince potential investors to throw the money behind the business. So, writing a strong financial report is what must be done to attract investors and let them take a closer look. But here comes another question, ‘How to write it?’

4 Basic Financial Statements

  • Balance Sheet
  • It is the information on the present condition of the company. It also includes the equity of an owner, liabilities, and assets.

  • Profit & Loss Statement
  • It gives data on all business operations, namely the income of the company, its profits and all expenses.

  • Statement of Earnings
  • This statement reports on the changes in company’s retained earnings.

  • Statement of Cash Flows
  • It includes the activities of the company (financing, operating, and investing).

Balance Sheet

The title of the first page of the report should be called ‘Balance Sheet’. Then there goes the company’s name and the effective date. The items are reported as of the specific day of the year. The assets are to be on the left and equity/liabilities on the right. List the assets held by the company, equity accounts, and sources of equity. Add the totals of equity and liabilities and check the balance.

Income Sheet

The page is to include the company’s name and the covered period of time. List the sources of the income. Don’t forget to mention the earned amounts. It is a must to report the costs of sold goods, record all the operating expenses, and include retained earnings.

Statement of Cash Flows

The page must include the name of the company and the time frame the statement will cover. You are to create an operating activities section that corresponds to the income statement prepared. Set an investing activities section that will correspond to the prepared balance sheet. Mention financial activities section that is related to the equity part of the balance sheet.

Don’t forget to sum up all the categories in the statement of cash flows. They should be labeled as the ‘Increase & Decrease in Cash’.

There should also be some essential notes added. They may contain data on company’s history or plans. For most companies it is a chance to explain what the report means, shows or doesn’t show. Notes are very important as long as they show the company to potential investors and partners from a different angle. This section is known for details about the stock option, tax situation, and pension plans.

Instead of glossing over various economic challenges, it is better to admit threats to the well-being of the company with no fear of chasing investors away. Such financial reports are used not only for large businesses and enterprises. When the company applies for a loan or any type of financial assistance, a report becomes a very valuable tool for accessing a financial status in the most accurate way, both business- and personal-wise.

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Sample Essay on How Economics Is Influenced by Other Sciences

algo tradingThere are many different fields of social science studies make a marked impact on the rise and fall of individual economies. Economics itself is a social science that studies observable human behavior and its effects on production, distribution, and consumption.

The general field of social science relies on observed and confirmed bodies of knowledge, just as with any physical science. There is a consistent study of causes and effects. All of these components are relevant to economics as well, and often findings from one field of study, such as sociology, might illuminate certain causes behind market trends and values.

One of the fundamental premises in Economics is that there are resources limited by quantity and utility, resulting in different market values based on human behavior and perception (Robbins 1932). Concepts such as scarcity, and the law of supply and demand influence the actions of certain communities. There are also gaps in what certain economic concepts can account for. Economists have pointed to how scarcity does not explain all the macroeconomics behind high unemployment (Blaug 2007), for instance, which another social science may explain. By examining the influence other sciences have on economics, connections between all the social sciences have become apparent.

The study of sociology is a social science that examines societies at large, researching all the aspects of individual societies. Sociologists study social institutions like government, religion, and marriage, all that have a major impact on the economy.

When researching a specific economy, it’s necessary to look at some certain financial factors that are related with the data regarding marriages and government policies influenced by constituencies and demographics. For example, studies in economics and sociology have revealed links between family structures and economic growth (Mathur 2015). The specific family structures prevalent in a certain community can result in quantifiable impacts on how economics is applied. As a result, research findings on sociological influences can result in new economic applications and approaches.

Economics and political science are directly linked as well. Political science is the study of the State and people’s relation to the State, which includes policies affecting how people make and spend money. The healthier a political body, often the better the economic state. A government that creates good policies can create economic growth (Shapiro 2013). In this way, the activity of political science has a direct influence on economics.

There is also a disagreement on the relationship between policy and economics. Political bodies often push for policies that affect the economy, such as pushes for job creation to enact the growth (Fieldhouse, Mishel, Eisenbrey, Bivens 2011). Other groups within government push back against these policies. This, essentially, breaks down to disagreements between the effectiveness of the Keynesian economics and fiscal conservatism.

Psychology studies the human behavior and mind as well as the causes and effects, behind human behavior, that influence the decisions made regarding the economy. There have also been many pieces of research on how psychology influences consumer buying behavior (Mott).There is the psychology behind marketing and appealing to consumer wants, and psychology behind consumer decisions.

There has also been the substantial growth in the field of behavioral economics. This area of study looks at how certain human behaviors influence the market and existing economic concepts such as the law of diminishing marginal utility which directly influence buying decisions. The two fields have grown together over the years. Economics was once built on the idea of humans as rational who maximize their own interests, but more complex issues of human self-interest and rationality exist today.

Important economic factors, such as stock market prices, supply, and demand, rely heavily on consumer perceptions. Human perceptions and decisions are tied strongly to other social sciences, such as sociology and psychology. Striving to understand these other fields of science increases understanding toward economic realities. The patterns of human behavior that influence the economy can be addressed by other social sciences, all of which consequently influence economics.

References:

  • Blaug, Mark (2007). “The Social Sciences: Economics.” The New Encyclopædia Britannica, v. 27, p. 343 [pp. 343–52].
  • Fieldhouse, Andrew; Mishel, Lawrence; Eisenbrey, Ross; Bivens, Josh (2011). “Putting America back to work.” Economic Policy Institute. http://www.epi.org/publication/putting_america_back_to_work_policies_for_job_creation_and_stronger_economi/
  • Henriques, Gregg (2015). “Finding the Missing Link Between Economics and Psychology.” Psychology Today. https://www.psychologytoday.com/blog/theory-knowledge/201506/finding-the-missing-link-between-economics-and-psychology
  • Mathur, Aparna (2015). “Why Marriage is Good Economics.” Forbes. https://www.forbes.com/sites/aparnamathur/2015/10/30/the-family-foundations-of-economic-growth/#c7ec19b2a9bf
  • Mott, Elizabeth. “Psychological Factors That Influence Consumer Buying Behavior.” Small Business Chronicle. http://smallbusiness.chron.com/psychological-factors-influence-consumer-buying-behavior-80618.html
  • Robbins, Lionel (1932, 1935, 2nd ed.). An Essay on the Nature and Significance of Economic Science, London: Macmillan.
  • Shapiro, Gary (2013). “Six Ways to Create Economic Growth.” Forbes. https://www.forbes.com/sites/garyshapiro/2013/01/23/six-ways-to-create-economic-growth/#3b9a49c57e32
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