Statement of Purpose - Economics Issue

Mankiw, N. G. R. E. G. O. R. Y. (2014). Principles of macroeconomics. Cengage Learning.

The controversy over what to establish as the official minimum wage in the United States has been debated and argued over for many years. Due to inflation, the gradual increase of pricings due to a saturation of printed currency, the minimum wage for workers has to be increased in order to compensate for the ever-fluctuating value of the U.S. Dollar. Many today are rising to the conclusion that a minimum wage of fifteen dollars an hour is necessary. This motion is designed to keep those who have minimum wage income out of poverty and to increase the amount of money in the consumer’s pocket overall. However, this particular increase in minimum wage will lead to the inevitable downfall of the United States’ economy and be a catastrophe for the working class.

Raising minimum wages is a contestable issue because it is debated in wide and varied audiences. Minimum wage is near the top of economists’ interest; they are looking for the connection between low wages and poor job markets. Each country sets its own laws and regulations regarding wages. For this reason, it has significant importance to policy makers and workers in each of those respective countries. Social activists have also found interest in the topic due to the fact that those who earn a minimum wage tend to come from poor minority families. Furthermore, the average American should have the strongest interest in the conversation because most citizens have been paid a minimum wage at some point in their life. Due to this fact, the idea of a significant federal minimum wage increase in America is open for debate specifically to rejuvenate the job industry, improve living conditions for citizens, and strengthen the economy as a whole.

And the average for the struggling class is 2190 a year, the big problem with this numbers is that the rich earns 50 US each day that is x10 what the lowest class gets a day, by doing the numbers provided in Document D we can say that the country does not really appear the be as wealthy as others make it to be, however numbers provided by the GDP in document A that shows that the GDP per capita Brazil is ranked number 64 in the world, with the amount of money people can spend is between 10,000 and 12,500 a year, also in the same document, is shown the standard GDP and in that Rank it shows that Brazil is ranked #8 and this shows that when the population has money to buy whatever they need to survive everyday it doesn't matter if it's only 10,000 a year, they can maintain themselves and make wise decisions in where to spend the money on when they need

This research paper will be addressing minimum wage and the comparison and correlation of it from when it was first instituted through the Fair Labor Act of 1938 to now in 2015. This paper will also go into the inequality of pay concerning women as well. Some factors that I’m focusing on are instances that have affected minimum wage, firstly the affect that unions had in guaranteeing the continuing rise of minimum wage along with inflation until it began to stagnate in the 1970s, which seemed to happen in correlation with the decline of companies encouraging unions; and, secondly what has happened to the work force as a result of women transitioning from free home and domestic work to paid jobs in the market place in such great numbers.

Countries have different resources which their economy depend on ; For example Saudi Arabia depend on oil export. When oil price is high then their economy become very strong . Countries like, Japan, Korea, and Germany, manufacturing have big part of their economy. Other countries depend on tourism like Turkey, South Africa and Malaysia. A lot of places to visit, big restaurant, malls, theater and nice beaches. Some countries lost big part of their from tourism problems in Egypt , War in Syria and Lebanon kept tourism away . Their economy is down . Big problems bring the world economy down like Greece bankruptcy also china decrease their currency to increase their export.

“Raise the wage!” reads many protestors’ signs across America. Many people believe this to be the answer to the financial inequality that plagues our country. The federal minimum wage was established to keep workers from settling on a poor living standard (Leonard A.11). Since this was passed, multiple debates and issues have risen. One begins to ask the question, is this truly the best way to resolve the unequal distribution of wealth? After research, it has been found that there are many drawbacks that are related to raising the minimum wage. Because of the number of harmful, detrimental, disadvantageous effects of increasing the base pay, the country should not continuously raise it.

This paper examines several articles about the minimum wage in the United States (U.S.) for any gaps that may have gone unnoticed. In research, there will always be questions that a reader may want to understand or have clarified. The questions in research are those that a researcher deem necessary for a particular topic in order to complete a study. Of course, some questions within a study may be one sided, due to the researcher’s knowledge of the topic or the questions results from a previous study that was unanswered. Often times, a research may not have all the questions at that particular time, which leaves room for future studies. This paper evaluates several articles that may fall into this category. The first section review articles

In America and countries around the world, we face a universal problem: poverty. Among many options, a widespread solution for this problem is the implementation of a minimum wage. Aside from the US, countries such as Luxembourg, Belgium, and Ireland all have set minimum wages(Petroff). Minimum wage was first established during the Great Depression when President John F.Kennedy was striving to help the economy and lift many Americans out of poverty(Day). At the time, the minimum wage was $0.25 an hour, which corresponds to about $3.98 an hour in today’s money(Minimum Wage). Since then, the minimum wage has steadily increased to today’s $7.25 an hour. With the fluctuating economy, people’s views and opinions on the subject have swayed every which way throughout the years, with minimum wages rising and falling over different cities, states and countries. The imminent truth is that people simply need more money, with around 60% of the population already in poverty (Dunkelberg). Often times, people are very liberal with this issue and suggest that America raise the minimum wage drastically to $15.00 an hour. The face of the proposition is a pretty one, suggesting that everyone gets more money, so how could one say no? While increasing the minimum wage has had some small benefits, especially from an employee’s perspective, the success of this idea proves to be a facade on the face of the future

Minimum wage is one of the biggest issues facing American society today. The government has been involved in the minimum wage of workers for more than a hundred years, so government and people have debated about what should be the minimum wage that would advantage the economy and society in total. But unfortunately, after a long time arguing about this problem nothing change and the American worker and breadwinner are still struggling with their income, so the big problem for the American society at present is the minimum wage that needs to be resolved and not forgiven, as the community is now witnessing. However the United States of America is the most powerful country in the world, but which has not respected people’s social issues for

In this paper I will introduce the concept of minimum wage and a few of the laws that govern wage rates within the United States. I will also discuss some of the idea of both the support and opposition to minimum wage. I will also introduce some United States companies who have made the decision to raise their own minimum wages, why they made the decision to do so, and the changes and expectations they have as a result. Raising minimum wage for a company is not easy, and what to raise it to is harder, but for many companies, it is a good idea. In this paper, I will explain why.

In this globalization era, as various countries see growth in their economy, there has also been significant differences in the wages set to employees in different countries. The lowest wages set by the law that are fixed to a particular amount which is also defined to be the price floor below which workers shall not sell their labor, has its own effects. The minimum wage law came into force as a matter of social justice amongst the low-wage workers, also to reduce exploitation and see that workers can afford the standard basic living expenses and necessities, not to increase the unemployment rate, indeed to increase the employment rate.

This document describes the coursework component for BMAN23000 which counts for 20% of the final mark for the course. You are required to complete this coursework in groups. You will be randomly allocated to a coursework group of approximately 6 fellow students in the same workshop. Details of coursework groups and companies allocated to each coursework group will be available on Blackboard (in a file called Group and Company Allocation). Details of the assignment are given below. The assignment will be discussed in detail in Workshop 1 in Week 4.

From childhood, I have been passionate about mathematics and problem solving. Given the quantitative focus of engineering, I pursued my undergraduate studies in civil engineering. During my years in college, I used my elective courses to explore subjects from different disciplines. Of these, I developed a deep interest in finance, particularly the financial markets and trading. To know more in finance, I later enrolled in CFA level 1, participated in virtual stock market competitions, did an internship in equity research and started trading with some personal funds.

Coming from the general business background, I find economics the most influential and powerful social science in society's daily life. Good knowledge of economics leads to better decision-making and choices, understanding how people and countries interact with each other and can significantly improve the quality of life for individuals and in the larger scale to countries.