4 Economy-Boosters That Keep Leading Countries on the Float

euro public domainCountries across the globe rely on different factors of the economy to bring about growth and development to its citizenry. Some of these factors are naturally-occurring while others are man-made. The success rate of these factors of the economy depends on how the authorities manipulate them for economic gain with competent governments able to use its technical expertise and know how to ensure sustained growth. This piece highlights some of the economic boosters that leading countries in the world use to stay afloat in the economic landscape.

  1. Trade & Industry
  2. Most of the leading economies in the world like Japan and China attained their status because of trade and industry. These countries are able to generate a lot of income from the sale of goods produced in their industries. The goods are either sold locally or abroad to other countries who for one reason or another do not manufacture those particular items. Electronics, automobiles, foodstuff, construction materials, and kitchen appliances are some of the things that the leading countries produce in their industries for sale. To remain competitive and keep their productions costs as low as possible, these countries have adopted technology in their production and manufacturing processes. Trade and industry have not only brought increased revenue for these countries but created employment opportunities for the youth, and this has helped them lead comfortable lives.

  3. Agriculture
  4. This is another factor of the economy that has helped leading economies in the Europe and Asia stay afloat. With most countries taking the industrialization route, the agricultural sector has been left unexploited and those that are still doing it earn a lot of revenue through the sale of agricultural produce. Rice, wheat, fish, soybeans, and palm oil are some of the major exports that bring a lot of revenue to the leading countries when they are sold abroad. Some of these food items are perishable but with advanced packaging technology, they can be shipped all over the world without going bad.

  5. Tourism
  6. Countries with amazing landscapes and naturally occurring features such as geysers and majestic beaches attract a lot of tourists that bring a lot of revenue. Wildlife and natural vegetation are other features that attract tourists from all over the world, and with proper management of the attractions, the countries are able to generate a lot of revenue, spur growth, and development. Brazil, India, Croatia are some of the countries blessed with tourist attractions. The fact that most of these attractions are natural means that will be available in the long run, and this guarantees continued revenue streams for the countries.

  7. Mining
  8. Minerals are quite valuable, and the countries that are blessed with huge benefits of them are able to generate a lot of revenue when they mine and sell them. South Africa has huge deposits of gold and diamond that generate a lot of revenue when they are sold globally.
    Countries across the world use different aspects of the economy to generate revenue for their operations. Above are some of the factors the top economies use to stay afloat.

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5 Economic Jobs That Are Going to Withdraw into the Shadows in the Next 10 Years

process engineering complete self-assessment guideEconomics is one of the lucrative career fields. It is for this reason that students seeking higher education scramble for the few slots available to economics students in colleges and universities across the globe. With proper training in economics, students are able to gain skills in market research and analysis, skills that are needed to ensure proper production and consumption policies in different sectors of the economy. Economics, however, is very broad and those who want to work in this field can choose different areas of specialization. Some sectors, however, are very popular among students while others are not, and this can be attributed to a decline in the demand for those skills in the industry. In this piece, we will highlight 5 jobs that are no longer popular among economics students.

  1. Statisticians
  2. This job basically entails analyzing data so as to come up with relationships and trends. Statisticians, therefore, crunch numbers on a daily basis, and it is this lack of spice and adventure that has seen economics students shy away from taking up jobs in this field. Statisticians are also required to be good at probability, calculus, statistical theory, and survey methodologies; these tough requirements also contribute to making a career as a statistician less interesting for college students.

  3. Claim Representatives and Insurance Underwriters
  4. The insurance industry is slowly, but surely embracing technology and at present automation is a key part of the industry. This spells doom for workers in the industry, and it is estimated that there will not be any need for claim representative and insurance underwriters in the next ten years as the software will be used to analyze and interpret clients’ data to determine insurance payouts. This realization has made it less desirable to work as a claim rep or as an insurance underwriter with economic students preferring other areas where human input is in high demand.

  5. Financial Analysts
  6. This is another area where technology has “snatched” the job from humans. Financial analysts were tasked with spotting economic trends and advising institutions accordingly but artificially intelligent software can do that job faster and at a fraction of the cost. Institutions are, therefore, investing in such software at the expense of human labor, and this has made training in this discipline less desirable.

  7. Accountants
  8. This was the dream job in the financial sector some time back, but that is not the case anymore. This is because everyone decided to study accounting in college, and this led to the saturation of the job market. Saturation has the effect of lowering the salary in a particular field, and this has scared away economics students from specializing in this field.

  9. Environment Economists
  10. Professionals in this field analyze environmental factors and their impact on the economic development. They then use the data to develop economic policies and to help agencies plan their activities so as to ensure minimal environmental destruction. Technology, however, has made it easy to monitor environmental factors, and this has reduced the demand for environmental economists. This has, in turn, made a career in this field less interesting to students.
    The adoption of technology, saturation of the job market and reduced income are some of the factors that have made careers in these fields of economics less interesting to college students. Scholars are, therefore, going for jobs where their skills are in demand and the salary is high.

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4 Kinds of Documents Every Economics Student Is Going to Face in a College

wps insurance brokers plymouthEconomics is one of the most influential courses around. Professionals in this field use their skills to come up with strategies and policies on investment, production, and consumer mannerisms that are needed to ensure institutions are profitable. A career in economics is also very lucrative, and professionals in this field earn huge salaries and bonuses every year. These are some of the things that entice students to take up courses in economics in college. Other than learning the concepts in economics, students are required to understand the various documents that they will come across in their careers and how to complete them effectively. Let’s now review some of these documents, how to fill them as well as their purpose in the business environment.

  1. The Balance Sheet
  2. This is by far the most important document in the financial sector. The balance sheet tells the exact financial position of a firm at a given time. It lists the value of the company’s assets, its liabilities, and the owner’s equity at that point. A balance sheet usually bears the name of the institution, the exact date of the statement and the unit of the currency. The assets are the physical resources that the company owns such as land, machinery, and processing plants. Liabilities are the firm’s debt and financial obligations. The owner’s equity indicates the finances provided by the owner to set up the business. The company’s assets must equal the liabilities and owner’s equity at that particular time for the company to be considered to have a healthy financial position.

  3. The Income Statement
  4. This document is known as the Profit and Loss Statement, and it indicates the firm’s financial performance regarding net profits or losses as at a particular time. It is calculated as the difference of the company’s revenues and expenses. The firm’s revenue includes what the company earned through sales and dividend income while the expenses are the costs incurred through salaries, wages, and rental charges. If the revenues exceed the expenses, the company reports profits, and if the expenses exceed the revenues, the company reports losses.

  5. The Statement of Retained Earnings
  6. The statement of retained earnings reports the movements in the firm’s net income and how the distribution of the firm’s dividends affected its financial position during an accounting period. Net income earned in that accounting period improves the statement of retained earnings while the dividends paid out to stakeholders decrease the retained earnings.

  7. The Statement of Cash Flow
  8. This document details the movement of cash within a business over a specific period of time. The cash flows are classified into 3 distinct categories. These are cash flows from operating activities (CFO), cash flows from investing activities (CFI), and cash flows from financing activities (CFF). CFO represents cash flows from the firm’s primary activities. CFI represents cash earned through the sale of the company’s assets while CFF represents the cash generated or spent when raising and repaying capital and business debts.

    Above, there are some of the documents students will come across when studying economics in colleges and in their careers. Students should, therefore, make an effort to understand them so as to become productive members in their workplaces.

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6 Countries Students Give up the USA for in Order to Earn More Money

Unfortunately, many people are forced to seek a better luck in other countries. Oftentimes, their native motherland is not able to provide them with the desired income to make life convenient and less stressful. The same goes with the students from the United States of America.

Though the USA. is one of the global leaders, the expectations of its students are not always covered in full. As the result, they start seeking luck in other countries. A new study of Universum tried to define the most advantageous countries for young people related to salary expectations. It included the survey of 432,099 undergraduates in 24 most perspective and economically stable countries of the world. What were the results? Let’s have a closer look at them.

Here is a list of 6 countries, which can offer students the ability to earn more money:

  1. Switzerland. The life in this country is utterly expensive. Accordingly, the salaries are pretty high. The main reason for expensive life is a strong dependence of Switzerland on the investments from other lands. This is a small state with little resources. Therefore, the competition for a highly-paid position is great. In average the salary is about $7,000.
  2. Norway. This prosperous state remained almost untouched during the financial crisis, and thus, the employers can afford highly-paid employees. The economic stability in Norway is of the top level. The average salary is about $6,500.
  3. Denmark. The next country in this rating offers its students $5,427 per month. Possibly, one of the factors is a huge tax income for Denmark, which is the biggest in the world. Therefore, students can expect high salaries.
  4. Australia. Students may expect a fair payment in Australia. This is the first non-European country on this list. It allows earning at least $4,700. Such a minimum salary is actually attractive.
  5. Germany. Returning back to Europe, we should name Germany, which holds the 5th position with an average salary $4,450. This highly-technological country has bright perspectives for young people. They are really welcomed because Germany faces the problem of nation aging and requires some fresh blood.
  6. Sweden. The neighbor of Norway, Sweden offers youngsters $4,350 and does not fall too much behind Germany. Its economic capacity has been always famous. The stability of this country endures for many decades, and students may earn good money working there.

It is necessary to mention that the 7th position is occupied by the U.S.A. The average salary in our country reaches $4,300. The possibilities are good as well. Nevertheless, many students are not content with such an offer and look for brighter perspectives elsewhere.

Salary is a ‘threshold’ attribute, which is of great importance. It is good when you have the job of your dreams and don’t hate it. Nevertheless, too low income will not satisfy all of your needs. Seeking something more perspective is the requirement of the current society. Possibly, life abroad can be more beneficial.

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A Business Deal: 7 Things a Businessman Has to Know Before Entering the US Market

When it comes to writing different types of essays, there may appear various obstacles. Some of them might be really unexpected. For some students, the issue of a topic choice is one of the greatest challenges. Though it is ridiculous for other people, there are those who simply cannot pick up a good topic.

The necessity of an appropriate topic is actually huge. It is supposed to be relevant and interesting. When reading your arguments concerning an important issue, which is significant for society, your readers will recognize your potential and intelligent choice. Accordingly, many students rejoice more when they are assigned their topics by professors. Thus, they escape this horror. Nonetheless, it is crucial to learn to make the correct choice on your own.

Let’s imagine that your topic is associated with economics, marketing, finances, and other related spheres. If you are a student of an economic college or you study economics and are free to choose the topic, you may write about entering the US market. You should write an essay dwelling upon the essentials that should be considered prior to entering the American market and starting your own business.

Here are some vital points:

  1. Business funding options. Before you enter the US market to begin your business, you should identify all funding options such as government-guaranteed loans, grants, and other financial support.
  2. The process of registration. You must obligatorily register your company. If doing it inappropriately, you will answer before the law.
  3. Taxation issues. Each country has its system of taxation. Consequently, they cannot be identical. You should investigate this matter to avoid any sort of complications. You ought to meet all the rules and necessities. Mind that there are federal and state laws, as well as some local peculiarities.
  4. Business insurance. You will surely require a proper insurance coverage. This obligation is important for you. Having business insurance, you will protect your business. Otherwise, all your attempts might be in vain.
  5. Hiring workers. The process of hiring employees is essential. This is a pretty lasting and serious procedure. You should know all laws to settle things in accordance with all official demands. You should give a special heed to foreign workers. They should be accepted in accordance with some different rules. You will surely need a good lawyer.
  6. Consumer protection law. You should learn all important tips on complying with consumer protection aspect. This includes some things like marketing, privacy, advertising, and something of the kind.
  7. Know your audience. You should learn your potential customers. Thus, you will be able to plan an effective and profitable marketing strategy.

This was an example of how to develop such a topic. When you wish to choose a topic, make sure that it is relevant, useful, and easy to discover. You should be confident that you can discuss various aspects to make your paper richer and more captivating to reach success.

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Top 10 US Universities for a Major in Economics

display boardThe career opportunities that exist for economics majors are plentiful and profitable. To make the most out of this valuable major, choose a university that meets your needs. Here are the 10 best universities for economics majors, according to research.

  1. Harvard. Universally acknowledged as the best of the best among American colleges, Harvard offers its students a rigorous academic experience, brilliant teaching staff, and a historic atmosphere. Changing demographics and culture have led this historic university to make changes in its economic program to make classes more personalized.
  2. University of Pennsylvania. The busy and challenging atmosphere of this university will not fail to inspire you. It offers caring and knowledgeable faculty as well as classmates who motivate you to do your best. Prepare for rigor: even the introductory classes are tough and require a solid background in calculus.
  3. Stanford. Here, you can enjoy all that the San Francisco area has to offer. Not to mention, you can absorb the entrepreneurial atmosphere that nurtures innovative technological inventions and startups. A top-ranked graduate program means that undergrads are in pursuit of excellence.
  4. University of Chicago. This college boasts some impressive alumni, including 13 billionaires and 51 Rhodes scholars. The courses are astonishingly diverse and varied, so you cannot fail to find classes that inspire you. Among the faculty are several world-famous, Nobel-prize winning economists.
  5. Columbia. This school will give you the challenges you need to advance your career in the field of economics. Additionally, it’s tough to beat the Big Apple for fun and adventure…and opportunities for the future employment, due to proximity to Wall Street.
  6. Massachusetts Institute of Technology. The economics major at this notable research university can lead to managerial training programs that are a pipeline to the profitable employment. This major lends itself excellently to double majors in areas like Law or Mathematics.
  7. University of California, Berkeley. This school is ideal if you prefer a large university with lots of action. Apply early if you can: this popular major has a cap, meaning that only the best of the best can get into it. It requires you to choose an alternate major when applying.
  8. London School of Economics. Personalized attention from instructors and small class sizes for junior seminars set this school apart. It’s the perfect environment if you want to experience life in an international city and meet students from all over the world.
  9. Princeton. A challenging curriculum prepares you admirably for the future careers in the economics field. Be prepared for the toughest coursework you have ever experienced: even freshmen with 1600 SAT scores frequently drop out of classes within the first year.
  10. Yale. Among competitive colleges, Yale stands apart in the passion and warmth of its students. Collaboration and genuine discussions are a hallmark of what makes Yale special. Coursework emphasizes the ways that economics affect other areas of life.

If you are considering a career in economics, choose one of these colleges to bring you closer to your dreams.

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The Smart Way to Pay for Online Writing Services

e-commerceAs college courses become ever more rigorous, the demand for online essay writing services has exploded. In response to that demand, hundreds of these services have appeared on the Internet.

But are all these services reliable? How can you tell? How can you avoid getting scammed when contracting and paying for them?

Here are some guidelines to paying safely for online writing services.

Do NOT Give the Writer Any Money Until the Job Is Done

A true professional will understand that it’s ethical to complete the job before getting paid. Be wary of writers who rush you into paying before they have finished the work. They may throw your paper together sloppily without a regard for the requirements of your assignment, leaving you with the work of revising and improving it at the last minute or hand in a paper of poor quality. Even worse, they might disappear with your money without doing the job at all.

Use a Reliable Payment Method

Security breaches of personal data have become all too common as more people do more of their shopping online. Some banks allow you to create a disposable credit card number every time you make a purchase. An online checkout service, such as PayPal or Google Checkout, is also a safe option. These services allow you to make online purchases without sharing your information with merchants. Always choose a credit card over a debit card for online purchases; they usually have a set amount of fraud protection and are not tied directly to your bank account. Whatever you do, don’t wire money using MoneyGram or the Western Union, as there is no way that you can ever get this money back.

Do Some Research

Do an online search on any writer before hiring him or her. Look for reviews that show that the writer is trustworthy and professional. Get an idea of the kind of writing this writer has done already. Is he familiar with the subject? Are they knowledgeable? Pay attention to spelling and grammar in their work and their communications with you.

If It’s Too Good to Be True, I Probably Is

Does this writer make outrageous claims about their expertise and/or turnaround time? Be suspicious. Be wary also of writers that offer their services at the cheapest rates. If writing your paper will cost you less than a cup of coffee, it’s probably a scam. Remember that you get what you pay for.

Never fear; some wonderfully professional, reliable writers are always out there. So take your time to choose just the right one.

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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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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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