Even if it sounds somewhat cruel, the current state of the Indian economy is pretty similar to the one of a sinking ship. The never-ending rupee fall is one of the most significant signs of an economy that is simply going down. Both – local and foreign experts are skeptical about the rupee bottom price, as well as about the Indian government’s incapability to restore confidence among the foreign investors.… Read the rest
Nowadays, the sovereign and financial debt crises have strongly shaken the global banking industry. Due to the world problems, the global banks went from the period of relative calm and wealth to the indecision that requires certain measures to be taken. As the shock is slowly wearing off and the global industry adapts, some of the most crucial themes are popping up here and there and will most likely affect … Read the rest
It seems like the whole world is waiting for Greece and EU leaders to come to an agreement on the bailout deal. Every single day the land of Zeus has to stand against its European creditors in a severe battle. And meanwhile, we have generated a short list of several facts about the Greek economy that may surprise everyone. Make sure to check it out.
Fact 1. Greece’s First Default… Read the rest
Remember good old ABBA singing about money and how important it is for us? It’s not the only case, when pennies are mentioned in the English language. A great way to demonstrate your fluency in the language is to use idiomatic expressions when talking about the ‘ka-ching’. Make sure to read on to learn some of the most popular and useful idioms based on money, in particular on having and … Read the rest
At first, let us give a simple explanation to the phenomenon called ‘inflation’. In short, inflation occurs when the economy is growing due to the increased spending. In case it ever happens, the prices are getting higher and the currency is worth less that usually. This leads to the fact that the currency can buy less than it would before. When this or that country faces with the inflation, the … Read the rest
In order to make the economy properly function, the producers are required to supply all goods that are required by the consumers. This is what they call the supply and demand law. When the matter concerns “supply”, it is related to the overall amount of goods that can be produced within the market. At the same time, “demand” is usually related to the amount of goods that the consumers want … Read the rest
When we discuss the subject of economics, terms such as supply, demand, and equilibrium price are often mentioned. It is also common to see graphs which contain the supply and demand curve. We might ask, why are these terms so important when discussing economics? The answer is because these terms are the key components in the subject of economics. Therefore, before we can fully understand economics we must first understand … Read the rest
The world trade organization has played a significant role in governing the smooth functioning of trade worldwide. The GATT (General Agreement on Tariffs and Trade) and the TBT (technical barriers to Trade) have both helped standardize global trade. Let us analyze the consequences of NAFTA and its impact on the American economy.
The NAFTA and the economic impact on U.S
The NAFTA (North American Free Trade Agreement) is an extensive … Read the rest
Macroeconomics is concerned with the study of the economy as a whole. The main goals of macroeconomics are to achieve:
- An improvement in the standard of living of the population;
- A low unemployment rate;
- A low inflation rate.
A low rate of inflation is desirable in itself but also because it may help promote the other two objectives. These three objectives have to be achieved subject to two important financial … Read the rest
Macroeconomics came to exist when modern governments collected and disseminated economic statistics. In order to explain fluctuations in output and production, it is useful for corporations to know what the economy’s overall level of output and production is (Lieberman, 2002). With knowledge about the economy as a whole, macroeconomic forecasts can help individual firms make microeconomic decisions. The following paragraphs will discuss several macroeconomic forecasts created by different institutions discuss … Read the rest