Free Essay

Economics 101

In: Business and Management

Submitted By george32
Words 1336
Pages 6
Economics Intern
The purpose of the internship program is to provide opportunities for highly motivated, near-final year university students interested in a future career with the Department to gain first hand experience in the application of economics in a public policy environment. Successful applicants will work on a broad range of tasks, including policy advice, research, analysis and report writing.

Applicants will also be considered for an internship with the Essential Services Comission (ESC). The Essential Services Comission is Victoria’s independent regulatory of the electricity, gas, water and sewage, taxi, ports and rail freight industries.

Position details Title: Economics Intern Classification: Grade 2.1.1 Work Location: 1 Macarthur Street, East Melbourne (DTF) or Level 37, 2 Lonsdale Street, Melbourne (ESC) Tenure: Fixed Term (3 months) Employment Type: Full-Time Salary Range: $44,679 (pro rata) plus 9.5% superannuation Further information: Ms Mai Thai - (03) 9651 2745 Position reports to: Senior Economist/Senior Policy Analyst Closing date: 12 September 2014 * -------------------------------------------------
Organisational environment * The Department
The Department of Treasury and Finance (DTF) serves government by providing leadership in economic, financial and resource management. We influence outcomes that can have a real impact on people’s lives. Our vision is a prosperous future for all Victorians.
At DTF, you’ll be part of a highly respected and professional organisation that allows you to apply your knowledge while offering flexible working options and opportunities for professional growth. You’ll be working in the heart of State Government in a dynamic and collaborative environment with opportunities to undertake stimulating work.
Applicants will also be considered for an internship with the Essential Services Comission (ESC). The ESC is Victoria’s independent regulator of the electricity, gas, water and sewage, taxi, ports and rail freight industries. The primary objective of the Commission is to promote the long-term interests of Victorian consumers with regard to the price, quality and reliability of essential services.

* Work Area
The incumbent will be allocated to one of the following teams of the Department or the Essential Services Commission. Please note that up to 5 economic intern positions are available.

Macroeconomic and Revenue Forecasting: Produces well‐informed, appropriate economic and revenue estimates for budget processes. Provides high quality, timely advice on research and modelling of important economic issues for the Victorian Government.
Economic Policy: Advises on whole of government economic strategies and promotes regulation reform and greater use of markets to secure a competitive, growing economy and increased living standards for Victorians. This group also works with other Victorian Government agencies on natural resources policy issues.
Cost Control and Efficiency: Implements a program of public sector reform to reduce costs to taxpayers, businesses and consumers. The program focuses on controlling costs, reducing internal red tape, improving management, and delivering efficient, innovative services that prioritise the community’s needs.
Gambling Policy and Litigation: A multi-disciplinary team within DTF with responsibility for advising on gambling policy and managing the State’s litigation in response to claims from previous gaming operators. The group provides analysis and advice to Government and other DTF groups on: gambling tax settings, including costing policy changes; licensing, including the transition to new gambling licences in 2012; regulation, including responsible gambling policy; and legal matters.
Water Division (Essential Services Commission): The team’s role involves the economic regulation of the 19 State-owned water businesses that service metropolitan Melbourne and regional/rural Victoria. For further information on the ESC, please visit www.esc.vic.gov.au

* -------------------------------------------------
Key accountabilities * Undertake a range of special projects the Department * Undertake detailed research and analysis, preparation of associated reports and presentation of findings * Responsibility for requests and liaison with representatives of other divisions, government agencies and private sector businesses as required * Research and draft correspondence and memoranda * Provide assistance in complex reviews and analyse findings * Spreadsheet and database management

* -------------------------------------------------
Key Selection Criteria * Knowledge of economic concepts and an interest in applying them in a public policy environment; * Strong analytical, research, problem-solving, and quantitative skills; * Ability to work effectively in teams and collaborating with others; and * Excellent verbal and written communication skills.

* -------------------------------------------------
Experience and Qualifications * The intern should be a highly motivated economics student with at least a credit average in economics/econometrics subjects studies. * The intern should be in their final or penultimate year of an economics or public policy degree in 2014 (with a preference for students intending to complete a subsequent honours or Masters year). * The intern is not expected to have any practical experience in the field of economics or public policy. * The intern should demonstrate an interest in the application of economics in a public policy environment. * The intern should be eligible to work in Australia for fixed term opportunities.

* -------------------------------------------------
DTF Capabilities and Behaviours
The DTF capabilities and behaviours framework refers to the mix of knowledge, skills and behaviours that are required by people within DTF in order to reach high levels of achievement in the department. * Economics: Applies micro and macroeconomic theory to government policy. Identifies the broad impacts of government policy on the economic conditions of specific industries and Victoria. * Teamwork: Collaborates with team members by sharing information and soliciting ideas. Contributes to team meetings and activities. Is supportive and encouraging and actively listens to all team members. * Communicates persuasively: Tailors formal and informal communication to ensure it is appropriate for the target audience. Uses active listening techniques to ensure accurate understanding of stakeholder issues. * Researches and analyses the issues: Breaks down problems into constituent parts to identify cause and effect relationships. Undertakes objective, systematic analysis to establish links and trends within data/information.
Details of capabilities and behaviours are outlined in DTF’s Capabilities and Behaviours Framework at http://www.dtf.vic.gov.au. Go to ‘About’ then ‘Careers’. The framework is on the ‘What to Expect at DTF’ page.

Other relevant information
This position description is an overview of the role; changes to the role should be expected reflecting changes in Departmental goals and priorities, activities or job focus.
The Department encourages its employees to be empowered in their roles as well as undertake their work in a responsible and professional way.
The successful applicant will be employed pursuant to the current Victorian Public Service Agreement and DTF’s relevant policies.
Appointments may be subject to a satisfactory criminal records check. Please contact the Recruitment Manager to confirm if this is required for this role.
DTF upholds human rights in its decision-making and actions.
DTF is an EEO employer committed to fairness, diversity and respect. As such, the Department will respond to requests for reasonable adjustments from applicants with disabilities.

Specific health and safety requirements
In the context of occupational health and safety policies, procedures, training, and instruction, employees are responsible for ensuring that they: * follow reasonable instruction and cooperate with their employer; * are familiar with emergency and evacuation procedures and comply with the instructions given by emergency response personnel such as emergency wardens and first aiders; and * at all times take reasonable care for the safety of others in the workplace.

Environmental management
The Department of Treasury and Finance is committed to managing its environmental impact. We follow the waste hierarchy of avoid, reduce, reuse and recycle to minimise our office-based environmental impact in the following areas: * energy use; * waste production; * paper use; * water consumption; * transportation; and * green procurement.

Privacy notification
The Department requires declarations and personal information relevant to your employment. The collection and handling of this information will be consistent with the requirements of the Information Privacy Act 2000.

Information security
The Department is committed to the safe handling of information. It is a requirement of employment that all staff follow security procedures and policies.

How to apply
You can apply online at www.careers.vic.gov.au. Here you will also find more information about jobs and working for government.
Your application should include a professional cover letter, latest academic results and a current resume outlining your skills, knowledge and experience relating to the advertised role.
Please note that applicants are not required to address the key selection criteria.…...

Similar Documents

Premium Essay

Economics

...ECON3007 Economic Policy Analysis Topic: Institutions and Economic Reforms Wendy Carlin This topic focuses on the role of institutions in economic growth and the implications of this for the design of economic reforms. We examine why some large-scale economic reforms have been surprisingly successful and others have been disappointing. It will be argued that the consistency between existing institutions in the economy and the reforms is an important factor in determining reform success. We look at property rights and contracting institutions, at the experience of transition economies – both in the former Soviet bloc and China and at reform policies including privatization. The empirical techniques that we study include cross-sectional and panel regressions using aggregate (i.e. country-level) data and micro-economic data. Key readings: Institutions and growth: Acemoglu, D., Johnson, S. and Robinson, J. A. (2001) (AJR) “The Colonial Origins of Comparative Development: An Empirical Investigation”. The American Economic Review, Volume 91, Number 5. Use the UCL Economic Journals page and choose the Atypon link. Acemoglu, D., Johnson, S. (2005) (AJ) “Unbundling Institutions” Journal of Political Economy Volume 113, Number 5, 949-995. Use the UCL Economic Journals page. Deaton, A. (2009) ‘Instruments of Development: Randomization in the Tropics and the Search for the Elusive Keys to Economic Development’. NBER Working Paper 14690. Use google. Transition: China and......

Words: 1359 - Pages: 6

Free Essay

French 101

...semester and am responsible for knowing its contents, policies, and dates. Signed _____________________________________________________________________ Please return signed form to your instructor. FRANÇAIS 101 – Printemps 2013 COURSE POLICIES AND GRADING PROCEDURES Professeur : _______________________________________ Email : ______________________________________ Bureau : ________________ Heures de Permanence : __________________________ Please contact your instructor about course related issues. If you have further concerns, contact the Language Program Director, Dr. Jessica Sturm, SC 186 (jsturm@purdue.edu), or the Program Assistant, Mrs. Mary Eddy, SC 111 (meddy@purdue.edu). Required Texts: HORIZONS Manley, Smith, McMinn, Prévost (5th ed.) [printed copy required for classroom use] HORIZONS iLrn Heinle Learning Center Access (includes access to on-line Student Activities Manual) Required Equip: headphones for use in computer lab; you will also need a microphone in order to complete certain homework activities. Recommended: Larousse Concise English-French, French-English Dictionary (Larousse, Paris) or another dictionary of your choice A copy of the textbook is available on reserve in the Undergraduate Library. COURSE GOALS AND OBJECTIVES: French 101 is a beginning-level course designed to develop language proficiency in French. The course will help you progress toward competence in speaking, listening, reading and writing, as well as toward knowledge......

Words: 4953 - Pages: 20

Premium Essay

Eco/101

...Economics 101 By Alicia Fletcher April 29, 2013 ECO/372 Shah Danyal Economics 101 The gross domestic product is the output of goods and services provided by labor and property located in the US. The measurement is used to determine the growth of the economy and can determine what areas may need a boost in their output to help the economy grow. An inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Often referred to as "constant-price," "inflation-corrected" GDP or "constant dollar GDP". Real GDP is the nominal GDP plus adjustment for inflation. Real GDP is also called per capita real output which is where the total population divides the real GDP. Unlike nominal GDP, real GDP can account for changes in the price level, and provide a more accurate figure. Nominal GDP is a gross domestic product (GDP) figure that has not been adjusted for inflation. Also known as "current dollar GDP" or "chained dollar GDP.” ("Invetopeida", 2013) The unemployment rate is the percentage of the total labor force that is unemployed but actively seeking employment and willing to work. Inflation is defined as a sustained increase in the general level of prices for goods and services. It is measured as an annual percentage increase. ("Invetopeida", 2013) As inflation rises, every dollar you own buys a smaller percentage of a good or service. Interest rate is the amount charged, expressed as a percentage......

Words: 682 - Pages: 3

Premium Essay

Ps 101

...going to be as successful going forward as it has been. China needs to shift away from an export-driven economy to more of a consumption model. It needs to be mindful about funding its state-owned enterprises, about subsidizing state-owned companies. It needs to lessen its reliance on low-end manufacturing and move up the value chain. By the way, these aren’t my observations; these are observations by Chinese leadership. If you follow any Chinese leader’s speech on China’s economic transformation, these are the points he’ll make. We would call that market rationalism or just normal evolution as a country rises to middle-income status. But there are also some countervailing impulses. There’s a strong streak of economic nationalism; there is a desire to promote national champions; there are protectionist impulses; and investment barriers—the policies called indigenous innovation, where China looks for ways to highlight or promote local companies at the expense of international competition. The fundamental economic question is: Will market rationalism prevail over these kinds of distortions, whether you call them mercantilism or protectionism or rent-seeking or other kinds of state interventions? My prediction is that Chinese leadership is moving toward market rationalism, but only somewhat. What we’re going to see with Xi Jinping’s leadership, is that the Chinese are very concerned about open-ended financial support for the state-owned enterprises and they want to contain,......

Words: 31136 - Pages: 125

Premium Essay

Mkt-101

...collar East West University Department of Business Administration Marketing Practices of “Prince Bazar Super Store” Limelight on 4 P’s & STP Concept Submitted to: Ms. Husna Ara Submitted by: Team “White Collar” 1. Jobaer Hasan ID: 2012-2-10-167 2. Mobashir Ahmed chowdhury ID: 2012-2-10-220 3. Abdul Aziz Fahad ID: 2012-2-10-249 4. Meraz Hossain ID: 2012-3-10-200 5. Rezwana Sultana ID: 2012-1-10-101 Date of Submission: 25 March, 2013 Date: 25 March, 2013 To Husne Ara Lecturer East West University Bangladesh Sub: submission of the term paper on Prince Bazaar. Dear Madam, We have great pleasure to replace before you our assignment on Super Shop Industry. We have made a research paper on Prince Bazar. We are the student of MKT-101; Sec-6. We analyzed on Prince Bazar to prepare this term paper, we have gathered what we believe to be the most complete information available. We have worked hard preparing this Term paper and we hope it will perfectly present the whole organizational situation of Prince Bazaar. We will be always available for answering any query related with this term paper. We request you to excuse us for any mistake that may occur in the term paper despite us best effort. It will be great pleasure for us, if you accept our term paper. Thanking......

Words: 4875 - Pages: 20

Premium Essay

Economics

...ECONOMICS 31 101 Economics is fundamental to everything we do. Each day we take decisions on economic grounds: • how much to spend on different types of goods and services • whether to travel by bus or train • whether to eat in the Union or in a local pub/cafe • whether to buy textbooks or clothes Others also take decisions which have an impact on us: • companies decide to raise/lower their prices • government may change income tax, vat, student maintenance allowances, tuition fees TV, radio and press commentators are constantly examining the implications of decisions and choices. Scarcity - The Central Issue Taking decisions/making choices - made necessary by scarcity: the volume of goods and services which can be produced is less than the amounts people want to have. Page 1 of 30 Scarcity arises because resources to produce goods and services are limited. Resources (factors of production) are: 1. Labour - human resources (labour force) are limited in number and skills 2. Land and raw materials - natural resources 3. Capital - manufactured resources: equipment, factories (influenced by technology - how we combine resources) Economic Questions What to produce? Clothes/Food/CDs/Holidays/ Houses/Shoes/Education/ Health Robots/Workers/Gas/Atomic Energy/Solar Power How to produce? For whom to produce? Pensioners/Students/ Lawyers/Journalists/Dentists/ Shop Assistants/Pilots Page 2 of 30 APPROACHES TO ECONOMIC QUESTIONS MICROECONOMICS (individual)......

Words: 1998 - Pages: 8

Premium Essay

Marketing 101

...Marketing 101 Chapter 9- Marketing segmentation, targeting and positioning Market- people with the willingness to buy, purchasing power Target market- people you believe will buy your product Consumer product- product for personal use Business product- for directly/indirectly in production of other products for resale Market segmentation- division of the total market into small groups. To satisfy different needs The market segment has to be measureable purchasing power and size. Has to promote and serve market segment. Must be large enough. Segmentations: o Geographic- based on location. Pay close attention to fast-growing states o Demographic- gender, income/occupation, age, education, sexual orientation, household size, stage in family life o Psychographic- interests Chapter 2- Strategic planning in contemporary marketing Planning is the process of anticipating future events and conditions and determining the best way to achieve organizational objectives. Planning is a continuous process that includes identifying objectives and then determining the actions through which a firm can attain those objectives. Marketing planning- implementing planning activities devoted to achieving marketing objectives. Establishes the basis for a marketing strategy. Virtual conferences: telephone conferences with computer interfaces. Strategic planning- the process of determining an organizations primary objectives and adopting courses of action......

Words: 4302 - Pages: 18

Free Essay

Termism 101

...Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101......

Words: 2224 - Pages: 9

Premium Essay

Sec 101

...SEC Staff Accounting Bulletin: No. 101 – Revenue Recognition in Financial Statements Securities and Exchange Commission 17 CFR Part 211 [Release No. SAB 101] Staff Accounting Bulletin No. 101 Agency:   Securities and Exchange Commission Action:   Publication of Staff Accounting Bulletin Summary:   This staff accounting bulletin summarizes certain of the staff's views in applying generally accepted accounting principles to revenue recognition in financial statements. The staff is providing this guidance due, in part, to the large number of revenue recognition issues that registrants encounter. For example, a March 1999 report entitled Fraudulent Financial Reporting: 1987-1997 An Analysis of U. S. Public Companies, sponsored by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission, indicated that over half of financial reporting frauds in the study involved overstating revenue. Date:   December 3, 1999 For Further Information Contact:   Richard Rodgers, Scott Taub, or Eric Jacobsen, Professional Accounting Fellows (202/942-4400) or Robert Bayless, Division of Corporation Finance (202/942-2960), Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549; electronic addresses: RodgersR@sec.gov; TaubS@sec.gov; JacobsenE@sec.gov; BaylessR@sec.gov. Supplementary Information:   The statements in the staff accounting bulletins are not rules or interpretations of the Commission, nor are they published as bearing the Commission's......

Words: 11971 - Pages: 48

Premium Essay

Anthro 101

...ANTH 101 OL Cypress College Summer 2014 BIOLOGICAL ANTHROPOLOGY 3 Units CRN 30234 | June 23-July 23 | Fully Online Professor Becky Floyd Email: bfloyd@cypresscollege.edu Facebook: http://www.facebook.com/ groups/ProfFloyd/ Course Description Office Hours I don’t have official office hours during summer. Join the Facebook group right away. Feel free to message me through Facebook or email me any time. I will get back to you as soon as I can. Blackboard We will be using Blackboard for this class: cypresscollege.blackboard.com Log in with your student ID (include the @) and your myGateway (or existing Blackboard) password. You need to use a newer computer with up to date software. For more info: cypresscollege.edu/academics/ distanceeducation Do NOT use Internet Explorer or mobile devices (especially to take tests!). Computers are available on campus, many in the L/LRC: ccllrc.info/ or call 714-484-7193 Advisory: Eligibility for ENGL 100 C.! UC/CSU, AA GE, CSU GE, IGETC! This course introduces the concepts, methods of inquiry, and scientific explanations for biological evolution and their application to the human species. Issues and topics will include, but are not limited to, genetics, evolutionary theory, human variation and biocultural adaptations, comparative primate anatomy and behavior, and the fossil evidence for human evolution. The scientific method serves as foundation of the course.! Duplicate credit not granted for ANTH 101HC or ANTH 201......

Words: 4276 - Pages: 18

Free Essay

Economics 101

...The Core Competence of the Corporation Uvod * GTE (General Telephone & Electronics Corporation) največji akter v razvijajoči se informacijski panogi v 1980ih. * NEC (Nippon Electric Limited Partnership) precej manjše podjetje, ima kompatibilno tehnološko bazo ter računalniške posle kot GTE, vendar nima nič izkušenj z vodenjem telekomunikacijskega podjetja. * Ključno vprašanje: zakaj sta dve tako podobni podjetji poslovali čisto drugače? (če bomo skozi cello predstavitev prikazovali ta primer) Rethinking the corporation * Najtežja naloga managementa je organizacija sistema, ki bo sposobno najti izdelke, ki se jim potencialni kupci ne bodo mogli upreti, za katere še sploh ne vedo da jih potrebujejo, si jih ne morejo niti zamisliti. * NEC se v 1980ih poveže v strateško zvezo z namenom pridobitve tehnoloških znanj. GTE tega ne stori (managerji višjih ravni še vedno delujejo, kot da upravljajo posamezne poslovne enote in ne podjetja kot celote). The roots of competitive advantage * Kratkoročno konkurenčnost podjetja izvira iz cenovne uspešnosti (price/performance) trenutnih proizvodov, dolgoročno pa izvira iz sposobnosti za izdelavo izdelkov z manj stroški in hitreje kot konkurenca. * Sistem korenin kot ključna kompetenca (ta primerjava z drevesom se mi zdi zelo nazorna, str 82, drugi odstavek in lepo razloži vse, lahko bi uporabili) How not to think of competence * Za ohranjanje ključnih kompetenc ni potrebno prehiteti konkurentov glede......

Words: 498 - Pages: 2

Premium Essay

It 101

...IT 101-002 September 22, 2013 IT News Report Assignment 1 Article Summary The article, “The iPhone 5s fingerprint reader: what you need to know”, explains how the fingerprint sensor works to its readers. For the first time, Apple has introduced a new technology called the “Touch ID” in its iPhone 5s. Basically, this feature enhances the security for the phone’s owner, where they no longer have to solely rely on entering a passcode to access their phone. The new iPhone 5s makes use of a capacitance fingerprint reader, which measures and senses the user’s fingerprint and further forms an image. This sensor has been placed in the “home” button of the phone. Eventually, the iPhone does not store the user’s fingerprint but instead runs a scan every time a finger is placed on the sensor. The emergence of this new technology does not mean that passcodes will no longer be used. Passcode is a must! If the sensor breaks or something happens to your finger, you need a way to get back into your phone. Other Apple services, such as iCloud or iTunes, will still require passwords, as fingerprint readers cannot always be used for them. However, purchases can be made using the Touch ID. According to Apple, this new technology will prove to be exciting to its users. A simple four-digit passcode will no longer always need to be used to get into your phone. Touch ID along with the use of a passcode will prove to be more secure for the iPhone user. Analysis Day by day, new advancements in...

Words: 461 - Pages: 2

Premium Essay

Accounting 101

...ACCT 101 Accounting Equation Assets = Liabilities + Stockholders Equity  Balance Sheet An entity's assets, liabilities, and stockholders equity as of a specific date  Charter Document that gives the states permission to form a corporation  Accounting The information system that measures business activities, processes that information into reports, and communicates the results to decision makers.  Audit An examination of a company's financial situation  Contributed Capital The amount invested in the corporation by its owners, the stockholders.  Entity An organization or a section of an organization that, for accounting purposes, stands apart from other organization and individuals as a separate economic unit.  Managerial Accounting The branch of accounting that focuses on information for internal decision makers of a business.  Net Loss Excess of total expenses over total revenues  Expenses Decrease in equity that occurs from using assets or increasing liabilities in the course of delivering goods or services to customers.  Going-Concern Concept This concept assumes that the entity will remain in operation for the foreseeable future  Creditor Those to whom a business owes money  Asset An economic resource that is expected to be of benefit in the future  Corporation A business owned by stockholders. Begins when the state approves its articles of incorporation and the first share of stock is issued. It's a legal entity, an artificial person...

Words: 468 - Pages: 2

Premium Essay

Economics

...Free Essays Home Search Essays FAQ Contact Search: Related Essays - Economics of Information - Introduction There have been discussions among scholars in developed countries regarding economics of information. Developed countries includes Australia, New Zealand, United States, Ireland, Germany...[ view ] - Economics and Growth - The demand curve is likely to change upwards or rise as a result of changes in a number of factors. One, if there is a move up in the price of an alternative commodity, or decrease in price of the giv...[ view ] Classical Economics vs. Keynesian Economics :: 5 Works Cited Length: 1187 words (3.4 double-spaced pages) Rating: Red (FREE) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - My research of Classical Economics and Keynesian Economics has given me the opportunity to form an opinion on this greatly debated topic in economics. After researching this topic in great lengths, I have determined the Keynesian Economics far exceeds greatness for America compared to that of Classical Economics. I will begin my paper by first addressing my understanding of both economic theories, I will then compare and contrast both theories, and end my paper with my opinions on why I believe Keynesian Economics is what is best for America. Classical Economics is a theory that suggests by leaving the free market alone without human intervention; equilibrium will be obtained. This......

Words: 1342 - Pages: 6

Premium Essay

Sab 101

...SEC Staff Accounting Bulletin: No. 101 – Revenue Recognition in Financial Statements summarizes certain of the staff's views in applying generally accepted accounting principles to revenue recognition in financial statements. The staff is providing this guidance due, in part, to the large number of revenue recognition issues that registrants encounter. Based on these guidelines, revenue should not be recognized until it is realized or realizable and earned. SFAC No. 5, paragraph 83(b) states that "an entity's revenue-earning activities involve delivering or producing goods, rendering services, or other activities that constitute its ongoing major or central operations, and revenues are considered to have been earned when the entity has substantially accomplished what it must do to be entitled to the benefits represented by the revenues" [footnote reference omitted]. Paragraph 84(a) continues "the two conditions (being realized or realizable and being earned) are usually met by the time product or merchandise is delivered or services are rendered to customers, and revenues from manufacturing and selling activities and gains and losses from sales of other assets are commonly recognized at time of sale (usually meaning delivery)" [footnote reference omitted]. In addition, paragraph 84(d) states that "If services are rendered or rights to use assets extend continuously over time (for example, interest or rent), reliable measures based on contractual prices established in advance...

Words: 529 - Pages: 3