Microeconomics – Comparative & Absolute Advantage

This article follows on from the previous gains from trade article. People consume goods produced domestically and overseas. Interdependence and trade mean more goods and services are available in increased variety. Differences in costs determines the value of trade. Production costs -> absolute advantage. The producer that requires a smaller quantity of inputs to produce … Continue reading Microeconomics – Comparative & Absolute Advantage

What is Macroeconomics?

A textbook definition of macroeconomics says that “[it] is the study of the economy as a whole, including growth in incomes, changes in prices, and the rate of unemployment.” (Mankiw, 2010) Extending over global, regional and national economies. Economists advise on policies for the government regarding important economic indicators. Macroeconomics though can often cause mistakes … Continue reading What is Macroeconomics?

Property Rights & Political Stability – India

Even though India is a growing export economy, India is held back by the destructive government regulation that eliminated the rule of law. “China and India clearly stand out as the two largest middle-income countries of origin”. (WIPO, Cornell University, & INSEAD, 2014) Encouraging areas of opportunity associate around India’s growing middle class, promoting the … Continue reading Property Rights & Political Stability – India