Business Studies Coursework

Business Studies Coursework Business Studies Coursework Business Studies Coursework Business studies coursework writing should start with the effective introduction presenting the reader to the topic, lead to well-developed and logically presented main points, and end with the relevant conclusion. Business studies coursework writing is not easy because in addition to following the academic standards of coursework writing, you must relate your writing to the real life examples. Sometimes, business studies coursework is to be presented in the form of the case study. Sometimes, you have a specific case to read and then provide answers to the questions on the case. Sometimes, you are required to conduct the research on the particular business issue and present your business studies coursework in the form of the report. There are many possible formats to follow, but the rules for successful business studies coursework writing are the same. If you need professional help with writing your business studies coursework, you may rely on our custom writing service and get a cus tom written coursework! Step 1: Choose the Business Studies Coursework Topic Do not think that having a general topic is enough to write a good coursework. The truth is that good business studies coursework are focused and narrow enough to exhibit your deep understanding of the issue. For example, if your teacher asks you write a business studies coursework about ethics at workplace, you should not try to cover all possible aspects of the topic. It would be much more effective to choose one aspect of workplace ethics (discrimination against female workers and the reaction of management to it, for example) to develop your writing. Of course, you need to ask your teacher about the specifics beforehand. It can be the case that you must cover the general topic of business ethics. Step 2: Include Evidence in your Business Studies Coursework It is of primary importance to support the ideas made in business studies coursework with factual reliable information. Rely on statistics, official reports, governmental publications, Harvard business case studies, etc. Here is the example of data to include in your coursework: It is estimated by Otto T. Mallery that government outlays in America have grown to about $900,000,000 a year, of which one-third or $300,000,000 might be set aside annually in accumulating a reserve for increased expenditures during periods of partial business collapse. The periods for reserve he concludes, are on the average about four years thus supplying a possible total of $1,200,000,000 public reserve fund to plump into the deepening trough of cyclical depression. Of this very tidy sum Mr. Mallery thinks two-thirds or $800,000,000 would normally be expended in wages. This, added to the non-reserve-year pay-roll of $600,000,000 offers a possible expenditure during one year when the effects of industrial depression become ominous-of $1,400,000,000 for direct employment. This would be of enormous benefit in avoiding acute distress. Step 3: Proofread your Business Studies Coursework This step appears to be evident but yet it is often ignored by the students. It is normal to make mistakes and mistype the words. However, it is unacceptable to submit business studies coursework without proofreading: It takes a lot of time and efforts to write a good business studies coursework while many students are not able to afford their time to coursework writing as there many other tasks to accomplish. We offer you an effective and working solution: custom coursework writing help! Our coursework writers are qualified to help you with writing and they will definitely follow all requirements. We deliver only custom coursework written from scratch and 100% original! If you need help with religious coursework writing or looking for paper editing help, our writers are always online to assist you with all types of assignments! Interesting posts: Political Science Thesis Parts of a Thesis Master Thesis Get Dissertation Help Dissertation Subjects

The Meaning of Okuns Law in Economics

The Meaning of Okuns Law in Economics In economics, Okuns Law describes the relationship between production output and employment. In order for manufacturers to produce more goods, they must hire more people. The inverse is also true. Less demand for goods leads to a decrease in production, in turn prompting layoffs. But in normal economic times, employment rises and falls in direct proportion to the rate of production at a set amount. Who was Arthur Okun? Okuns Law is named for the man who first described it, Arthur Okun (Nov. 28, 1928- March 23, 1980). Born in New Jersey, Okun studied economics at Columbia University, where he received his Ph.D. While teaching at Yale University, Okun was appointed to President John Kennedys Council of Economic Advisors, a position he would also hold under Lyndon Johnson. An advocate of Keynesian economic policies, Okun was a firm believer in using fiscal policy to control inflation and stimulate employment. His studies of long-term unemployment rates led to the publication in 1962 of what became known as Okuns Law. Okun joined the Brookings Institution in 1969 and continued to research and write about economic theory until his death in 1980. He also is credited with defining a recession as two consecutive quarters of negative economic growth. Output and Employment In part, economists care about a nations output (or, more specifically, its Gross Domestic Product) because output is related to employment, and one important measure of a nations well-being is whether those people who want to work can actually get jobs. Therefore, its important to understand the relationship between output and the unemployment rate. When an economy is at its normal or long-run level of production (i.e. potential GDP), there is an associated unemployment rate known as the natural rate of unemployment. This unemployment consists of frictional and structural unemployment but doesnt have any cyclical unemployment associated with business cycles. Therefore, it makes sense to think about how unemployment deviates from this natural rate when production goes above or below its normal level. Okun originally stated that the economy experienced a 1 percentage point increase in unemployment for every 3 percentage point decrease GDP from its long-run level. Similarly, a 3 percentage point increase in GDP from its long-run level is associated with a 1 percentage point decrease in unemployment. In order to understand why the relationship between changes in output and changes in unemployment is not one-to-one, its important to keep in mind that changes in output are also associated with changes in the labor force participation rate, changes in the number of hours worked per person, and changes in labor productivity. Okun estimated, for example, that a 3 percentage point increase in GDP from its long-run level corresponded to a 0.5 percentage point increase in the labor force participation rate, a 0.5 percentage point increase in the hours worked per employee, and a 1 percentage point increase in labor productivity (i.e. output per worker per hour), leaving the remaining 1 percentage point to be the change in the unemployment rate. Contemporary Economics Since Okuns time, the relationship between changes in output and changes in unemployment has been estimated to be about 2 to 1 rather than the 3 to 1 that Okun originally proposed. (This ratio is also sensitive to both geography and time period.) In addition, economists have noted that the relationship between changes in output and changes in unemployment is not perfect, and Okuns Law should generally be taken as a rule of thumb as opposed to as an absolute governing principle since it is mainly a result found in the data rather than a conclusion derived from a theoretical prediction. Sources: Encyclopaedia Brittanica staff. Arthur M. Okun: American Economist. Brittanica.com, 8 September 2014. Fuhrmann, Ryan C. Okuns Law: Economic Growth And Unemployment. Investopedia.com, 12 February 2018. Wen, Yi, and Chen, Mingyu. Okun’s Law: A Meaningful Guide for Monetary Policy? Federal Reserve Bank of St. Louis, 8 June 2012.