Relationship Between Macro and Micro Economic Indicators - 550 Words

Relationship Between Macro and Micro Economic Indicators (Essay Sample) Content: Relationship between Macro and micro economic indicatorsStudentà ¢Ã¢â€š ¬s nameCollegeAbstractMicro and macroeconomics are interlinked in the facets of any economy today. The relationship between both macro and micro has enhanced the economic performance of many economies. Productivity and consumption are embedded in the performance of many economies to micro and macro factors of an economy.IntroductionEconomics is a social science that specializes in the study of the different sectors of an economy through production, wealth transfer and consumption (Evans, 2005, p. 97). The broad categorization of economics later initialized the split to micro and macro economics. Microeconomics focuses on the individual economic entities in an economy. Microeconomics considers the firms and households. Macroeconomics focuses on the aggregate entities in the economy. Macro focuses on government spending, exchange rates and international markets through exports and imports. Levels o f economic performance are interlinked on the actual relations between macro and micro factors of an economy. However, econometrics has recently been used especially to exemplify the theoretical approaches of micro and macroeconomics. The essay discusses the actual relation of micro and macroeconomics on the levels of economic performance in a country, through the interactions of the individual actors in an economy and the aggregate players in the economy in measuring the levels of economic performance.ProductivityBoth economics subsets adequately accept productivity as a measure of economic performance. Microeconomics focuses on the actual productivity of the firms and households. Firms efficiently use resources such as labour, capital and land to produce goods or services and maximize profits. Households provide labour and land to the companies while also consuming goods and services produced. A company producing vehicles targets households and other companies to purchase such pro ducts. Production of vehicles depends on the disposable income of the households and the demand for such vehicles by businesses. China has over the past few years had high demands for vehicles used by households due to the increase in disposable incomes of its population (Brandt, 2012, p. 339). The state has in the past improved the road network to serve the burgeoning no of vehicles in the country adequately. The state has enhanced economic growth through increased government expenditure in infrastructure, the creation of employment opportunities and improving entrepreneurship through legislations and innovations. IMF reports indicate that the nation has increased productivity through micro and macro factors to enhance steady growth. Chinaà ¢Ã¢â€š ¬s policy on the tightly controlled currency and the export-oriented economic system has enabled the country to thrive in the long run. Macroeconomic indicators such as inflation and interest rates have been historically low in the count ry, spurring economic opportunities for the households and firms. Chinaà ¢Ã¢â€š ¬s economic growth has been progressive with the state expect to surpass the US by 2040, as the largest economy in the world. Micro and macro economic indicators relate to enhancing the direction of the economy.ConsumptionThe burgeoning population of the Chinese market has attracted many firms to the nation. Major manufacturers such as Apple, Toyota, Honda and Samsung have expanded in the nation to take opportunities in the country. China has low levels of unemployment, crime rates and high rates of skilled labour, extensive resources and an economic centered government (Huo, 2012, p. 30). Latest reports indicate increased foreign direct investments in the nation. Apple operates major production lines in the state for the assembly of Apple products. The state maintains low minimum wages, tightly controls the labour system and enhances safety nets for its workers. Consumption affects both facets of the e conomy. High consumption levels increase demand of products and services enabling firms to produce the goods and services at a profit. The state intervenes through interest rates in the event of inflation in the economy. The su...

Death penalty Essay - 1100 Words

Death penalty (Essay Sample) Content: NameTutorCourseDateOutlineTHESIS: Death penalty is intended to protect the life of an innocent person from unlawful murder, while this may be achieved, there is the possibility of losing an innocent persons life in the hands of lawful murder should there be a miscarriage of justice which has been proven to happen. On the other hand, justice can be equally accorded through administration of equally severe forms of punishment which protect the life of an innocent victim from being lawfully executed should there be miscarriage of justice. Death sentence should therefore be suspended in favor of life imprisonment until all concerns related to this shortcoming are addressed.Studies have not proven the deterrence effect of death penalty to be of muchValue for a number of reasons such as:Death penalty has not been proven to deter more murders than life imprisonment.Murderers imprisoned for long periods of time are not deterred fr om killing inmates and prison guards.Those committing murders are not deterred as most of them are in altered states of mind or do not plan on getting caught.There can be miscarriage of justice due to:Discrimination that can leave the accused innocent at the mercies of the law.Arbitrariness, i.e. not fair in that citizens residing in same country but different states can have others suffering as a result of its enactment while others where it is not exercised do not suffer from its shortcomings.Retributive justice can not be achieved through death penalty as it is disproportional in nature e.g. a rapist cannot be rapped in return.Justice and healing can be achieved through lifelong imprisonment.Lifelong imprisonment leaves no loopholes for taking away an innocent persons life.Deterrence effect is presumptuous and should therefore not be relied upon to justify the implementation of death penalty. There is no established method that can be used to identify a person who did not kill be cause he or she was afraid of death sentence.'Death Penalty: Wrong or Right?'Introduction If you are against death penalty, then you must be for the protection of life. Death penalty constitutes capital punishment administered by a state upon an individual who has committed certain crimes deemed serious by the state in question. It requires the life of the accused to be put to an end. Means of capital punishment include, but not limited to, hanging, crucifixion, electrocution, stoning etc. Thesis statementThe constitution states that if life was to be taken away as a form of punishment, then it must be in accordance with the due process of the law, this proposition is conditional and accords the government a choice to either abolish it or effect it in light of the due process of the law. For this reason, I wish to put forth arguments that would lead to the abolition of death penalty.Dissenting Claim: Those in support of death penalty like Van den hag argue that death penalty acts as deterrence against possible future murderers. Death being the most severe form of punishment is most feared and a murderer would think twice before carrying out his intention (Van Den Haag, 1986, 125). Previous studies have shown that a number of murders were reduced since the inception of death sentence.Rebuttals to the claim: Execution tends to take long periods of time before it is administered and the use of alternative equally feared forms of punishments could be used instead as forms of deterrence. Deterrence has its limitations as someone already imprisoned and sentenced to death would not be afraid to kill prison guards and inmates. Death sentence can only be effective in deterring murderers if it is carried out fast enough which is usually not the case. Death penalty is intended to protect the life of an innocent person from the hands of a murderer. However, this form of punishment lays wide open the possibility of having to lose an innocent persons life in the hands of the law should there be a miscarriage of justice. In rebuttal to deterrence, death sentence has not been proven to deter future murderers. Most murders are committed by people who are in an altered state of mind. It might be that a person acted in moments of immense emotional imbalance due to anger or substance abuse. Also, the person committing murder does not expect to be found out. In such cases, death sentence is unlikely to deter such persons or drug abusing criminals from committing murder as they are not in a position to evaluate the possibility of life imprisonment or the death penalty itself.Concurring Life imprisonment protects the life of an innocent person from accidental lawful execution should there be miscarriage of justice which happens too often while at the same time according due justice to the victims of murder. Moreover, death penalty has not been proven to deter more murderers than life imprisonment. Long-term imprisonment being a severe form of punishment can deter any rational human being from committing murder. However, this is not possible as most premeditated murders involve a criminal who is planning on not getting caught or people who murder out of sheer feats of emotions (Anckar, 2004, 54). In rebuttal to retribution, Sanctity of life should not be compromised to death penalty. Retribution being similar to revenge should not be exercised by a civilized society. Capital punishment has so many problems and risks associated with it and the need for vengeance should not justify its existence. Sanctioning killing for revenge motives lowers the dignity of a mature society, which is supposed to uphold the highest principles possible even when faced with a challenge of this magnitude for there is a better way of solving it without contradicting its moral principles. It has been found out that most of the victims families are objected to death penalty because it is vengeance regardless of how you look at it, for instance, a sodomite is no t sodomized in return. Thus killing a murderer is a punishment that is disproportional and its sanctioning unrealistic. The U.S. takes long in implementing death penalty and only a few people ever get executed. This makes it completely unreliable for administering justice for the victims. Life-long incarceration will ultimately bring healing to the wounded souls. Countering violence with violence can only lead to more violence. No amount of punishment can bring healing to the affected families, healing can happen gradually through time and concerted efforts from third parties. It is a tragedy to believe that life can be protected by taking away life (Wolfson, 1998, 167). The issue of executing the innocent accidentally in the event of miscarriage of justice seems to be taken lightly by those dissenting (against its abolition) whereas, studies show that for every seven people executed, an innocent mans life is lost. Errors occurring in administering capital punishment are so numerous thereby making its usage completely unreliable. For instance, a study showed that when cases were retried, 7% of the defendants were acquitted and 80 % were not put to death (Bae,...