Assignment : Economics For Managers

The economy of Brazil is in the top ten largest economies along with the United States. It is the biggest in Latin America. Actually it is the seventh largest in the world. Brazil has used its newly found economic mechanism to syndicate its outcome in South America and show more of a role in the Global Businesses. The Obama Administration’s National Security Strategy recognizes Brazil as a developing center of effect, and greets the management of the country’s joint and global issues. The United States and Brazil associations mostly have been good in the recent years. But Brazil has other strengthening relations with neighboring countries and expanding ties with nontraditional partners in the South that’s developing.

Imagine that you have decided to open a small ice cream stand on campus called "Ice-Campusades." You are very excited because you love ice cream (delicious!) and this is a fun way for you to apply your business and economics skills! Here is the first month's scenario--you order the same number (and the same variety) of ice creams each day from the ice cream suppliers, and your ice creams are always marked at $1.50 each. However, you notice that there are days when ice creams remain unsold but other days when there are not enough ice creams for the number of customers.

-Mohair farmers have earned a subsidy from the federal government for decades because the mohair farmers can get large payments from the government without taxpayers ever really noticing because the farmers who get the subsidy care a lot about it, while the rest of us taxpayers (paying mere pennies extra in taxes) do not really care. And, “any politician with a preference for job security can calculate that a vote for the mohair subsidy will earn the strong support of the mohair farmers while costing nothing among other voters” (Wheelan 177).

Apple Incorporation is one of the biggest high technology company that operates worldwide. Is was established on April 1, 1976 in California by Steve Wozniak, Steve Jobs and Ronald Wayne.The company is known for designing and manufacturing several technology devices include Smart Phones (iPhone), Tablets, iPods, iPads, Mac, Apple TV, Apple watches as known as smart watches, it also produce software’s like the OS X and iOS operating systems, and offers several online services such as iCloud, Apple Pay, Apple Care. The company strategy is to designee and enhances its own operating systems, software, hardware and other services by providing customers with new developed technology.

Private Health Insurance (PHI) is an important component in the funding of healthcare services in Australia, supplementing free universal public hospital access available through the Government’s Medicare system by providing coverage for treatment as a private patient in hospitals and for ancillary items such as dental, physiotherapy, ambulance and other services. From an insurance perspective, PHI differs significantly to general and life insurance in a community rating rather than individual risk underwriting applies. In 1976, The Australian Government established Medibank Private as a not-for-profit private health insurer, as an operating division of a statutory authority (the Health Insurance Commission). Medibank Private proved a success,

Although the financial constraint was one of the initial triggers that made government to move toward privatization of health care, the argument of those who oppose to privatization remains at the prediction of future damages to the health care system caused by the privatization, not about the resolution of financial crisis. (Barkun, 2008; CBC, 2006; CNA, 2013; Deber, 2013; McDonald & McIntyre, 2014; ONA,

Medibank was established by the Australian Government in 1976 and is Australia’s largest health insurance and a leading healthcare service provider. Though, Medibank has been stable in the economy, the reforms to privatise the insurance company has been reported for a number of years. In November 2013, The Australian Government had announced that it will proceed with the sale of Medibank. Thus, Medibank welcomes the Government’s announcement and they see this is as great opportunity for the business and the customers. It is assumed that subject to market conditions, Medibank Private will be sold through an initial public offering in the 2014-15 financial years (Medibank). While Medibank has been operating as a commercial business for some time, it is believed the sale will promote more competition within the private health insurance industry, ultimately driving better value and health outcomes for all Australians (Medibank). Provided, with the learnings achieved in this government business relations unit, this essay will draw upon the debates and media news reports on privatisation of Medibank and argue the perspective that the government should not privatise Medibank.

The writer of the article, Jim Mcllroy, is a member of the political party Socialist Alliance, and has a different view on the selling of the Medibank Private that set the tone of the article. The Medibank Private will be privatised within the next financial year upon an agreement among the state treasurers and Joe Hockey, the current federal treasurer. In return the states will be given a fund consisting of 15% share of the sale to invest in new infrastructure projects. The author claims that this fund is a mere trick to cover up the fact that Medibank Private will be sold off to profit-seeking multinational companies. As such, welfare could also be affected due to such companies looking for profitable customers instead of providing services for the whole society; only the rich could afford better health care. This is already happening in the expensive US health care system, whose health care costs are 18% of GDP as compared to 9% in Australia. It should be pointed out that the former Liberal Prime Minister, Malcolm Fraser, who advocated abolishing the original publicly owned Medibank universal health system, was also against the sale of Medibank Private in 2006. He believes that the government could rein in the costs and provide a better outcome than if the Medibank is in the hand of private firms. Furthermore, the government also intends to propose a co-payment scheme for every GP or emergency department visit to fund Medicare. However, this is strongly repudiated by the

Your paper should be between 1750 and 2500 words, in APA format and structured as follows:

The market value of Medibank Private is estimated to be worth 4 billion and is proposed that Medibank will be sold through a share market float next financial year (Hurst, 2014; Onselen, 2014). From the proceeds of the sale, the government has planned to reallocate the earnings into an "Asset Recycling Pool" of funds (McIlroy, 2014). This would be used to go into “productivity-enhancing infrastructure” projects that will give states 15% of the sale to support and invest into projects such as roads and ports. The Abbott Government will try and alleviate the country’s deficit position by using the surplus to stimulate economy and to provide greater funds in the long term from the sale (McIlroy, 2014; Onselen, 2014). The sale of Medibank Private is expected to lead to increased competition, which will inevitably benefit consumers.

This case study addresses the accessibility of health care to all Americans. One of the biggest questions is if healthcare should be a "public good or a private privilege" (Pg. 239). Not every American has the opportunity to receive health insurance and consequently they incur high medical bills that often cannot be paid. In this case, Washington Memorial Hospital is facing bankruptcy and possible closure due to uninsured patients and unpaid medical treatments. In order to keep the hospital open, emergency funds must be accessed, health workers will have their salaries cut, and many employees will be laid off. People without health insurance often use public hospitals, and therefore these hospitals are in need of more financial support from the government.

The main argument by the people opposing the sale is that privatisation would increase the premium of Medibank. At this point it is important to examine the

In the health service sector, however, the notion of privatization cannot be applied extensively as it contains elements of market failure. Instead, some quasi-market solution, such as moving the delivery of healthcare out of the public sector, with a view to increasing the value for money, innovation, and responsiveness to users

Apart from having the public sector, we also have a well established private sector The private sector absorbs 32% of the total expenditure on health in the country. . In a year, the private sector has 27, 000 admissions for in-patient treatment, undertakes 13,000 surgical operations and delivers over 2,000 babies. Some people choose private hospitals instead of public hospitals due to better service quality and admission procedures. There are reliable doctors and nursing officers and their attitude are courteous and they are more hospitable and are ready to help.

On March 26th, Finance Minister, Mathias Cormann announced that the Government-owned health insurance company, Medibank Private, would be sold on initial public offering. This announcement made Commonwealth treasurer, Joe Hockey, confident toward selling billions of dollars of public assets.