Uop Eco 365 Week 2 Individual Assignment

Course Description Principles of Macroeconomics deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies, and the effects of the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is concerned with unemployment, inflation, and the business cycle. Text Required: Macroeconomics, Roger A. Arnold, 7th Edition, 2005 Recommended: Macroeconomics Study Guide, Roger A. Arnold, 7th

In regards to my current life stage, I am a young adult and almost all of my financial income is paid in wage from my occupation as a lifeguard. As I am not a parent of any kids, my financial expenses consist of paying for food, clothing, transportation, and school fees. Therefore, most of my expenses are centered around myself and focuses on future career plans to eventually increase my income as I will be able to attain a profession after acquiring a college education. Presently, I have not surrounded myself with assets because I have not acquired my college degree or decided upon a profession; as a result, I would not be able to search for appropriate assets.

Microeconomics deals with the individual parts in the economy and how they relate to each other. Macroeconomics deals with the totals of these parts in our economy

Hello, my name is Daryl Christopher Yost and I prefer to be called Chris. I am 26 years old and was born in Hagerstown, Maryland. I joined the Military after High School for 2 years. Then after I worked a bunch of odd jobs, I started working for FedEx Ground as a Package Handler at September 2003 but now I work for CitiBank.

The GoodLife Management supply and demand simulation is based on the management of 2500 two-bedroom condominium apartments in a fictitious town named Atlantis. According to the simulation they are the only management firm in Atlantis and have a monopoly in the market. The simulation shows the issues the management deals with and gives the opportunity to see how the right or wrong decisions can affect the outcome of those decisions.

I disagree with the following assertion because it does not add up with what microeconomics and macroeconomics actually does. Microeconomics, while it is concerned with why things happen in a specific place, it does not deal with the unemployment rate, that is macroeconomics. Macroeconomics does deal with the economy in the country as a whole, but it does not deal with the dealing how the rate of teenage smoking would be affected by increasing taxes on cigarettes. Dealing with the way a change in prices affects the buying and selling of that product is microeconomics.

Macroeconomics is the study of economics as a whole and it affects everyone. It affects us all in the way it helps us make decisions. Issues like inflation, which can reduce the value of our savings or unemployment affect us everyday. As consumer we want to know the cost of good or how much borrowing money might cost. Businesses want to know if it's the right environment to introduce a product at a certain price. Even the government turns to macroeconomics to figure out such things as creating

Circumstances, which are different, can have a major affect on supply and demand. The simulation in this week’s assignment deals with the curves of supply and demand and how they are affected by the changing of situations that happens in the city of Atlantis with the two-bedroom apartments. Changes were supposed to be made depending on the findings and results made within the Atlantis community. The shifts in supply and demand will have an effect on the Goodlife decisions. This simulation has four emphasized key points they are price ceilings, supply and demand, shifts in supply and demand, and equilibrium. This paper will summarize

Waiting times – If a customer has to wait less than this will mean that productivity within the business is getting

Macroeconomics, at the outset, incorporates various conceptual frameworks that concern an economy as a whole or bigger components of the economy and / or a nation / world at large. A nation 's levels of unemployment, levels of inflation rates, overall rates of interest, budgetary factors of the government and various aspects of the fiscal policies pursued by it, growth in terms of overall economy, systems of monetary regulation framework and the underlying policies, foreign exchange policies, balance of payment scenario, regulations across labour market, etc. are the shared parts which are focussed in macroeconomics (Burda & Wyplosz, 2012; Gandolfo, 2013; Brunnermeier et al, 2012; Stiglitz, 2011; Congregado et al, 2012).

Macroeconomics is "the field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels" (Investopedia, 2011). In other words, macroeconomics examines economic trends in the economy as a whole, in contrast to microeconomics, which looks at the decisions made by firms and individuals (Investopedia, 2011). Most business majors have a good understanding of microeconomics because supply and demand help explain the individual supply chains that professionals will confront in the workplace. However, one simply cannot understand microeconomics without understanding macroeconomics because larger economic forces help impact part and supply pricing that lead to fluctuations in costs, which may lead to supply issues on the micro level. In fact, "the factors that are studied by macro and micro will often influence each other, such as the current level of unemployment in the economy as a whole will affect the supply of workers which an oil company can hire from, for example" (Investopedia, 2011).

The simulation pertaining to the supply and demand concepts showed that there was a shift in the supply curve, or the demand curve, and could cause some significant changes to the economic environment. For example if the demand curve was to shift to the left, that would show a sudden decrease in the consumers demand for production and could cause fewer apartments to be filled. This type of situation occurred in the simulation due the widespread desire of customers to own their property therefore forcing

Macroeconomics is the branch of economics concerned with the aggregate, or overall, economy. Macroeconomics deals with economic factors such as total national output and income, unemployment, balance of payments, and the rate of inflation. It is distinct from microeconomics, which is the study of the composition of output such as the supply and demand for individual goods and services, the way they are traded in markets, and the pattern of their relative prices.

Microeconomics studies parts of the economy. Macroeconomics looks at the whole. In other words, macroeconomics tries to understand what happens in the economy in general, it takes an overview of the economy, whereas microeconomics explains what happens in different parts of the economy separately, taking one at a time.

The Supply and Demand simulation involves acting as Property Manager for GoodLife Management, a property management firm that manages apartment complexes in Atlantis. This simulation was an exercise in applying the supply and demand concepts based on current market trends. The property manager is required to adjust the monthly rental rate of two-bedroom rental apartments and number of apartments available. Supply and demand within the simulation were manipulated by the rates charged for the rentals, the economy, income, and personal choice. All of these characteristics affect the proportion of vacant as well as occupied apartments.