Category: ECONOMICS ESSAY WRITING

15 Best Microeconomics Books To Read in 2022

15 Best Microeconomics Books To Read in 2022

Economics is a social science that studies how products and services are produced, distributed, and consumed. The economic facets of human behavior, such as personal preferences and price expectations, are also a focus of economics. Economics books are written by economists and seek to simplify the complex subject of economics. Topics like macroeconomics and microeconomics are challenging for the typical reader.

Because there are so many various kinds of economics books, there is no universal definition of what an economics book is. This article will concentrate on some of the best microeconomics books to read in 2022. You will discover something on this list that interests you and satisfies your demands, regardless of your degree of skill.  The review is based on phenomenological experience among our economics research paper writers. At expertwritinghelp.com we use these 15 best microeconomics books to deliver your request of write my economics paper online

So, What Exactly Is Microeconomics

Microeconomics is a subfield of economics that examines how people behave. Microeconomics enables us to comprehend how our choices impact the supply and demand for goods and services. It assists us in figuring out the value of products at various points in time. Choosing resources for consumption and production is another aspect.

Most people mistakenly distinguish between macroeconomics and microeconomics. Microeconomics examines how individuals and firms behave, whereas macroeconomics deals with the aggregate economy. Both are distinct subjects that call for independent research.

Here are the top 15 microeconomics books that can help you quickly become an expert in the field. I urge you to read it, absorb its lessons, and use it in your personal and professional life.

Top 15 Best Microeconomics Books To Read In 2022

1. Principles of Microeconomics by ( N. Gregory Mankiw)

best intermediate microeconomics book
Source: https://www.goodreads.com/book/show/9979549-principles-of-microeconomics

It is the most often utilized textbook in the class. The entire set of fundamental microeconomic rules can be found in Principles of Microeconomics. Even school-level kids will find the chapters brief and relatively simple to understand.

Summary

This book’s language is relatively simple, so you won’t have to struggle to understand any given chapter. This book will benefit you if you want to master the principles of microeconomics because it doesn’t contain any information that a layperson won’t grasp! Select this microeconomics book, underline the passages that speak to you the most, and then note any further thoughts you may have.

Key features of this book

  • Apparent and straightforward writing
  • This book is available on Audible, Amazon, Flipkart, etc.
  • It provides numerous examples to aid your grasp of the subject’s fundamentals.
  • It provides a concise and clear explanation of all the fundamental microeconomics principles.

2. Microeconomics: Principles, Problems, & Policies (McGraw-Hill Series in Economics) by Campbell McConnell, Stanley Brue, and Sean Flynn

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source: https://www.abebooks.com/servlet/

This is the most okay book to choose if you ever have to read something for class. For a very long time, students have found it to be ideal.

Summary

There are 20 chapters in this book, one of which is titled “behavioral economics.” The role of behavior in microeconomics has not been covered in many works. However, this one encourages students to approach microeconomics from an entirely new perspective. This book is helpful for individuals who want to teach and need a reliable instructional plan, in addition to pupils currently enrolled in school. The students may quickly master the digital material, and they can use it to augment their studies for exams and other purposes. You can also read this textbook to save time and understand microeconomics topics as a business owner.

Key Features

  • The deal textbook for entrepreneurs.
  • This book is available on Amazon, Audible, etc.
  • Its information can also be applied in the classroom.

3. Modern Principles: Microeconomics by Tyler Cowen and Alex Tabarro

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Source: https://www.goodreads.com/book/show/6659171-modern-principles

How can people learn more effectively? It has been discovered that they learn best when doing so visually. Even a dull subject like microeconomics was made to stand out as one of the most engaging topics in this book thanks to the authors’ use of images.

Summary

This book is pretty decent for novices and those unfamiliar with the basics of microeconomics. This is the “go-to book” for anyone taking their first microeconomics course. This book’s easy-to-read chapters and accompanying images make it unnecessary for you to flip back and forth between topics to understand one. You can follow along and pick up the ideas, perceptions, and foundations. This book will also give you a lot of instances from real life that you can relate to and better understand.

Key Features

  • There are five sections in this book.
  • You will learn a lot about microeconomics if you read all five sections of this book.
  • Audible, Flipkart, etc., all sell this book.

4. Microeconomic Theory by Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green

best microeconomics book in 2022
Source: Microeconomic Theory by Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green

If you are new to microeconomics, you shouldn’t start with this book because Microeconomic Theory is the fundamental textbook on the subject.

Summary

The University of Michigan uses this book to teach microeconomic theory to Ph.D. candidates for a whole academic year. This book will teach you concepts and fundamentals rather than intuitions, allowing you to publish your works in esteemed journals in the future. However, do not attempt to read this book on your own. You still have the option if you’re an economist or have your Ph.D.

Key Elements

  • It has five sections: social choice theory and mechanism design, game theory, partial equilibrium analysis, general equilibrium analysis, and individual decision-making.
  • You will learn a lot about microeconomics if you read all five sections.
  • It is available from Audible, Flipkart, etc.

5. Microeconomics made simple by Austin Frakt and Mike Piper

best microeconomics books for beginners
Source: https://www.goodreads.com/book/show/22431116-microeconomics-made-simple

You occasionally need a helpful reference to review what you have already studied when recapitulating the microeconomics ideas. That is the sole purpose of this top microeconomics book.

Summary

Students, teachers, instructors, and business owners can use this book to refresh their expertise. People busy in their professional or personal lives and have little to no time to study microeconomics would find it helpful. Professionals need something to read through quickly since their professions need it (and they have no prior knowledge of economics).

Key Elements

  • You won’t ever experience information overload. Let’s leave that to the books. This book is recommended if you seek a practical, precise, and reliable resource for condensed knowledge of microeconomics.
  • It is brief, engaging, and simple to comprehend. If you don’t have much time to read, finishing this book is almost like completing an exam.

6. Advanced Microeconomics Theory  by Felix Muñoz–Garcia

All of the complex microeconomics concepts are fully introduced in this book.

Summary

This book is the best for master’s and Ph.D. level economics, public policy, and finance students. It offers several illustrations of how we put various theories into reality. Additionally, it provides several mathematical presumptions that explain different economic theoretical frameworks.

Main Features

  • It does not go into the fundamentals of microeconomics but concentrates on more technical subjects.
  • It explains the connection between microeconomics and mathematics and how problem-solving is aided by it.
  • It covers many subjects, including monopoly, demand theory, game theory, and preference relations.
  • This book is available on eBay, Amazon, etc.

7. Microeconomics  by Paul Krugman and Robin wells

This book would be the ultimate textbook you could ever require, regardless of what you do—study in an undergraduate program, operate a business, or perhaps wish to understand every imaginable topic one can know in microeconomics.

Summary

Students who have read this microeconomics textbook have stated that it made it possible for them to pass their microeconomics classes with A’s without putting in much work. This book is simple to follow and helps readers grasp the essentials well, according to readers who don’t have a lot of business knowledge or have never taken a business class.

Main Features

  • The language used is quite simple and easy to understand.
  • It provides numerous examples to aid your grasp of the subject’s fundamentals.
  • It provides a brief and clear explanation of all the basic principles of microeconomics.
  • Audible, Flipkart, and other online retailers all sell this book.

Also Read

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8. Microeconomics for today by Irvin B. Tucker

Many microeconomics textbooks make big claims but offer the complete opposite. However, there is no disconnect between what this book promised and what it delivered. Instead, if we contrast it with modern microeconomics textbooks, this is what all incoming economics students ought to read.

Summary

Although written simply, this book will help you expand your vocabulary, concepts, perspectives, and comprehension. It is ideally suited for college students who wish to succeed academically while grasping the foundations. As a result, you browse the book quickly. The vocabulary words used in each chapter are listed on the side of the chapter. Additionally, there will be a summary and a practice test after each chapter so that you can review the entire idea.

Key Takeaways

  • A fantastic textbook for those starting a startup or working in the business.
  • To make studying considerably simpler, it offers sample exams after each chapter.
  • The book includes tools, website links, PowerPoint slides for educators, and CDs.

You can buy this book from Amazon or any other retail shop.

9. Microeconomics: Theory and Applications with Calculus by Jeffrey M. Perloff

This microeconomics textbook is self-explanatory. Read this book if you wish to refer to the fundamentals of microeconomics with real-life examples.

Summary

Those wishing to learn microeconomics from scratch should not read this book. This book is not for new readers. Instead, you can pick up this book and deepen your comprehension once you grasp the principles of microeconomics. You must also be familiar with derivative and integral calculus concepts to thoroughly understand this book’s information. Therefore, before starting this book, read several introductory math and microeconomics texts. This book’s presentation is its one flaw, but you may not find it to be one. The book is written more like a mathematics book than a microeconomics textbook.

Points to consider

  • This book should be on your “to-read” list if you enjoy witty examples and inspiring phrases.
  • If we take into account the value the book offers, it is reasonably affordable. The book has over 800 pages and is priced between $20 and $25.

10. CoreMicroeconomics by ( Eric Chiang)

Because it is thick and chock-full of microeconomic concepts, this best-selling book on the subject is difficult for those unfamiliar with it.

Summary

The author introduces numerous fresh ideas in microeconomic theory. That indicates that this book contains more than just the fundamentals of microeconomics; it also contains information on how to teach students about the newest developments and innovative notions in the field. Many students who have used this book in class have reported that it was handy during the semester and helped them pass the course. This book can be utilized by teachers who teach microeconomics to their students in addition to students.

Key Features

  • The book contains all of the author’s teaching experience and broad understanding of teaching economics courses.
  • There are more than 500 pages, and every detail is thoroughly explained.
  • Audible, Flipkart, etc., all sell this book.

11. Freakonomics. A rogue economist explores the hidden side of everything by (Steve Levitt and Stephen J. Dubner)

Without mentioning the title Freakonomics, the list of microeconomics books is lacking. One of the best textbooks on microeconomics that you will find is this one.

Summary

The book offers a selection of articles and theories to assist you in comprehending economics’ most fundamental concepts. It demonstrates how we may apply economics in our daily lives by using a variety of applications. It’s a fascinating book that examines many issues from an economist’s perspective. It has chapters demonstrating the connection between economics and peoples’ everyday lives.

Key Takeaways

  • The language used to write the book is informal and straightforward to understand.
  • It also demonstrates how economic policies impact our day-to-day activities.
  • Case studies are included at the end of each chapter.

12. Principles of Microeconomics by Karl E. Case, Ray C. Fair, and Sharon E. Oster

It is the ideal book for anyone new to microeconomics who wants to get the basics down without any filler.

Summary

The author did not write this book to instruct or teach. It is intended for people who are currently unfamiliar with the topic and are not proficient in advanced mathematics. Although it is designed for beginners, it does not imply that it is meaningless or illogical. No, this book is jam-packed with real-world examples and current events to help new readers connect the concepts to everyday life. If you want to understand the principles of microeconomics from scratch without paying little attention to the mathematical ramifications, pick up this book.

Key Features

  • Each idea offered in this book has undergone extensive research. Additionally, it includes an exercise that will help readers comprehend the principles of microeconomics.
  • It includes MyEconLab, which you should get in addition to the book since MyEconLab will provide you with an organized environment, enhance your comprehension of each idea, and allow you to practice more effectively.

13. A Short Course in Intermediate Microeconomics with Calculus by (Roberto Serrano, Allan M. Feldman)

This challenging mathematical textbook has been designed for intermediate students who have taken calculus and an introductory microeconomics course.

Summary

While introducing more in-depth coverage of game theory, experimental economics, and behavioral economics, the book maintains its strengths as simply written, well-organized, and calculus-integrated. It offers a brief yet thorough treatment of the fundamental microeconomics concepts, including theories of the consumer and the firm, market structure, partial and general equilibrium, and market failures brought on by public goods, externalities, and asymmetric information. It stays more focused and manageable than comparable textbooks.

Main Features

  • In addition to over seventy new mathematics exercises and improved versions of the previous edition, this book’s second edition offers good solved problems in all of the introductory chapters.
  • The authors use the book’s full color with clear and valuable graphs and graphics.

14. Math Practice for Principles of Microeconomics by Carl Sutton Mapleton

The more challenging practice problems frequently found in essential microeconomics are collected in this book to assist students and educators.

Summary

The book can be assigned by teachers to students as needed, and students can utilize it for further practice. The workbook format is used to present the material. Students can check answers in the book’s back, exhibit their work, and finish the exercises. To aid students receiving various types of education, the equations and problems are also presented in multiple ways.

 

Key Takeaways

  • In this book, there are only collections of math-related problems; there are no definition or concept questions.
  • The third edition has been rewritten and includes additional net present value, compound interest, and international trade problem sets.

15. Principles of Microeconomics 2e by OpenStax

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Source: https://www.goodreads.com/book/show/53033205-principles-of-microeconomics-2e-by-openstax

This OpenStax printed book is the least expensive one on the market.

Summary

The scope and organization of most beginning microeconomics courses are covered in Principles of Microeconomics, 2e. Many recent instances are used throughout the system, and they are all treated fairly from a political standpoint. As a result, economics theory and application are approached in a balanced manner. The second version has undergone extensive revisions to improve clarity, include feedback from many reviewers and adopters, and update data and current event impacts.

Main Features

  • To assist instructors in switching to the second edition, the preface and transition guide outline changes to Principles of Microeconomics 2e.
  • On the OpenStax website, you can get a free copy of this textbook.

In Conclusion

All the best microeconomics books listed above are helpful and worthwhile to read. The advanced books listed above can be chosen once you have a general understanding of the fundamentals. After reading them all, choose the one that most appeals to you.

McDonald’s SWOT Analysis

McDonald’s SWOT Analysis

So your professor wants you to perform a SWOT analysis for MacDonald’s.  And you’ve decided the best way to kick off the assignment is to browse around a little. Somehow you found yourself here. This post will conduct a McDonald’s SWOT analysis so you can replicate the process for your assignment. A SWOT analysis is a tool that helps savvy investors and competent executives make strategic business decisions. The process involved is pretty simple. However, it’s not always easy.

What’s a SWOT ANALYSIS?

SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. A  SWOT analysis methodically examines each of these 4 aspects to see if there are any insights hidden therein.

Generally, strengths are factors that enable an entity to seize any opportunities that are up for grabs. Threats, on the other hand, tend to conspire with weaknesses to further complicate things for a business. 

You’ll do well to keep this understanding in mind as we cruise through this MacDonald’s SWOT analysis.  In this process, we’ll spend sufficient time deliberating on each of the 4 aspects mentioned above. Weseek to understand how each aspect strengthens or weakens MacDonald’s.

We’ll discuss each component under a separate subheading so we can give it adequate attention. Another reason we’ll do that is to keep the analysis organized.  Before we embark on the journey, it’s critical toknow what MacDonald’s does.

MacDonald’s: A Brief History and What the Company Does

McDonald’s SWOT Analysis

As Napoleon Hill (1937) so aptly states in Think and Grow rich, adversity carries within itself the seeds of success. No person who follows Hill’s advice — knowingly or unknowingly— ever gives up. Maurice and RichardMacDonald (brothers) had failed in a movie business in New England. But they were not willing to quit. Instead, they relocated to California and founded their very first McDonald restaurant, which was merely a hamburger stand (1940).

Over the years, they labored hard. They also strategized hard. The year 1948 was a defining one in their entrepreneurial journey. In that year, the dynamic duo incorporated the Speedee Service System which featured the “soon to be famous” 15 cents apiece hamburgers. 

The success the brothers saw must have inspired them to introduce franchising into their overall business strategy. As a result, the business grew into 10 restaurants, nine of which were franchises. You can learn more about the company from its official website.

Ray Kroc Appears on the Scene

Before the money and fame, Ray Kroc sold milkshake mixing machines. That’s how he ran into the Macdonald brothers. Kroc possessedgreat salesmanship skills. It’s not hard to figure out why the brothers let him become agent for their franchising business. Kroc would later (1961) acquire the business from the brothers for $2.7 million. The deal’s value was a colossal sum those days.

To organize the business he’d bought, he established a company called McDonald’s System, Inc. The company’s name would later change to present day’s MacDonald’s Corp. Even though the company was founded in California, its headquarters are in West Loop, Chicago. Before 2018, the company’s headquarters sat in Oak Brook, Illinois.

The New Owner’s Vision

It turned out that Kroc had a really huge vision for his new business. Initially, he planned to plant 1,000 restaurants in the United States. But the business ended up expanding into international markets. Canada and Puerto Rico are some of very first new locations McDonald’s grew into in 1967.

Today, the well-known fast-food behemoth owns or controls restaurants in 120+ countries. According to Statista (2018), McDonald’s Corp ownedat least 37,855 restaurants as of 2018.

Currently, franchisees own 92.7 percent of the business, according to Forbes (Feb 4, 2019). Eventually, the company intends to have 95 percent of its business operated by franchisees.  Forbes also says that McDonald’s, Starbucks, and Restaurant Brands International are the three largestfast-food chains on the planet. Other sources show that McDonald’s is the biggest chain of fast-food restaurants (in terms of sales) worldwide.

Best Selling McDonald’s Products

They include McGriddles breakfast sandwich, premium salads, chicken nuggets, baked apple pie, and the Egg MucMuffin. Other delicacies include snack wraps, Happy Meals, and of course, the famous Big Mac.  But did you know McDonald’s is the largest distributor of toys? You mean McDonald’s sells more tots than toy titans Hasbro and Mattel? Yes, it sounds incredible, but it’s true. This marketing trick aims to win over kids to their side from an early age. The strategy works.  Actually, 40 percent of kids aged 2 – 11 regularly request their parents to take them to McDonald’s. That request happens as regularly as once a week. That’s pretty much building tomorrow’s loyal customer base today.

The company also passes out books and gadgets especially through so-called Happy Meals. This marketing trick is highly effective.

Now let’s proceed straight to the core business at hand: developing McDonald’s SWOT analysis.

What Makes McDonald’s Strong?

As stated above, McDonald is among the three biggest fast-food businesses globally. Obviously, being that big does give a business certain strengths. Perhaps it’s more accurate to state that McDonald’s leveraged various strengths to clinch its current market dominance.  And because the company is now performing well (judging from 2018’s numbers), it can only become more successful and stronger. As they say, success births success. Let’s look at a few factors that come together into McDonald’s strengths.

1. A Brand that Enjoys International Recognition

McDonald’s sits pretty among the world’s most recognizable brands.  Maybe the company isn’t as recognizable as Toyota or Coca-Cola.  But that’s probably because these companies are in pretty much every country in the world.

That said, many people in the world today can quickly recognize McDonald’s logo. The logo brings together two “Golden Arches,” forming a logo that resembles the letterM. The architecture of the first franchised restaurant (1952) featured two arches joined together into an M-like shape. Very few people in countries where McDonald’s operates wouldn’t immediately recognize the company’s logo.

Being well-known comes with various benefits. Customers tend to trust well-known companies over ones no one’s ever heard of. Brand recognition is a great asset when it comes to opening branches in foreign locations.

That’s why everyone in Kenya (ever heard of Kenya?) was talking about McDonald’s in early 2018. Newspapers had reported that the company was planning to set up shop in that country. And everyone there was talking about McDonald’s as if it were a brand they’d known all their lives.

2. Highly Efficient Systems

McDonald’s restaurants operate the same way the world over. A customer who orders a burger in Morocco or a coffee in Mauritiusgets the same seamless service. In other words, McDonald’s is one well-coordinated system — a system that works.

Many small little-known restaurants probably make better burgers than McDonald’s.  But they’ve not managed to design and implement a consistently effective service delivery system.

Also, a McDonald’s Big Macalways tastes like a McDonald’s Big Mac! Most people like consistency and predictability. And this giant chain of fast-food restaurants serves exactly that. It’s accurate to say Ray Kroc bought an efficient system rather than merely a chain of successful restaurants.

Thanks to its super-efficient systems, McDonald’s cranks out roughly 75 burgers every second. Here’s another astounding fact about the company’s efficiency.  The company serves about 810 customers every singlesecond!That’saccording to McDonald’s Every Second, a site that shows real-time numbers.

3. A Business Model that Works: Franchising

The company has been refranchising its restaurants for some time now. Refranchising allows the company to expand without needing to invest vast amounts of money. The business model enables MacDonald’s to keep operational costs low and manageable.

The chain intends to eventually place 95% of its business in the competent hands of franchisees. That model lets the company rake in tons of money in franchisefees. The franchisee typically pays $45,000 in fees. In addition, the person must have close to $1,000,000 in liquid capital before they can start operating. Franchising ropes in others to help run the empire. Meanwhile, the company retains 100% control of the systems that new owners use to manage their business.

4. A Huge, Diversified Income

McDonald’s sells the majority of its products in the United States. But the company has a presence in 120+ countries. What does that mean? It means that the company doesn’t have to worry too much about risk concentration in any one country. Excellent performance in a few countries offsets “lowerthan expected” performance in other locations. 

5. Annual Dividend Hikes — Happy Investors

McDonald’s has consistently made sure investors smile all the way to the bank since 1976. That was the first year the company paid out dividends. What’s different about these dividends is that they have been increasing over the last 20+ years. 

Over that period, dividends grew at a steady annual rate (average) of 17.3 percent. In fact, the company’s dividend yield surpassed that of the fast-food sub-industryin 27 percent (in 2017).

Generally, happy investors are an asset. They can help a business raise capital for growth without much struggle.

What are McDonald’s Weaknesses?

In this section of our McDonald’s SWOT analysis, we’ll focus on the factors that somehow weaken the company.

Well, there aren’t that many weaknesses to talk of. But there are at least two that the company grapples with. What makes these weaknesses big problems is that there’s nothing much the business can do about them.  Let’s now look at McDonald’s main weaknesses.

1. Overreliance on Low-skilled Workers

The vast majority of McDonald’s workers are semi-skilled. They’re mostly people who can’t for some reason find a better-paying job. Some are college students. You bet most workers have only a high school diploma.Actually, one doesn’t need to have any skills to work there. Quite naturally, flipping burgers has never been a job that pays well.

Consequently, these employees have trouble staying motivated. They see their job as a stepping stone to something bigger elsewhere.  In the end, a great number of McDonald’s workers leave.

That means the company is always looking for people to hire. And since most people who accept such jobs aren’t trained, they need training. And training employees is expensive.

Unfortunately, there’s nothing much McDonald’s can do about this sad state of affairs. The company just has to grin and bear it. 

2. Being Associated with Unhealthy Food

When people talk of unhealthy food in general, fast-food chains like McDonald’s come to mind. And that’s can’t be good thing.

No wonder the company is nowadays trying to include healthy items such as smoothies on the menu. But as things stand, consumers will likely continue associating the company with unhealthy food.

Sure, notions and ideas change. But it might be years before food lovers start associating McDonald’s with healthy delicacies.

What Opportunities Can McDonald’s Seize?

The company has weaknesses and threats to worry about, certainly. But it is best if the company doesn’t focus too much on them.

Luckily, there are several opportunities McDonald’s can grab and dramatically improve the bottom line. Let’s look at some of these opportunities.

1. Expansion into Underserved Markets

Africa is a continent that companies like McDonald’s may want to give a little more attention to in the future. That’s because Africa is home to more than 1.2 billion people as of 2019. In addition, experts estimate that fully 50 percent of global population growth will happen in Africa by 2050.

Well, African countries aren’t the most affluent in the world. And the majority of people there struggle financially. That said, McDonald’s sells cheap food — food many people in the continent can afford. Little wonder Subway and Kentucky Fried Chicken have positioned themselves to cash in on Africa’s appetite for tasty food.

Currently, the company operates in only four African countries namely Morocco, Egypt, Mauritius, and South Africa. These 4 countries combined boast under 400 McDonald’s restaurants. Compare that to the more than 500 restaurants the company has in the Philippines. Or to the 509 restaurants it operated in Spain as of 2018.

Why Africa?

Global Finance (2019) recently prepared a list of the world’s richest and poorest countries. The data the report presents is quite interesting. It measures each country’s GDP. But GDP isn’t a good measure of wealth of people living in a given country.

With that in mind, Global Finance used GDP numbers that were adjusted for purchasing power parity (PPP). PPP-adjusted GDP numbers give a much clearer idea of people’s ability to buy goods and services.

Exciting Insights

Consider this: McDonald’s runs more restaurants in the Philippines than it does in the entire African continent. But the numbers reveal that’s not the way it should be.

The PPP-adjusted GDP for the Philippines is $9,494. That compares very closely to the GDP-PPP for Morocco which stands at $9,284.

It Gets More Interesting

The GDP-PPP for Gabonis higher than that of South Africa, Morocco, Mauritius, Egypt, or Philippines. Seriously, why aren’t there McDonald’s restaurants in Gabon?

Algeria, Botswana, Tunisia, Libya, Namibia, and Eswatini are other African countries with a higher GDP-PPP than that of the Philippines.

And of course, there’s Nigeria with a200+ million populationwhose median age hovers around 18 years. There was talk of McDonald’s plans to enter Nigeria in 2015. Unfortunately, those intentions became nothing in the end.

Evidently, there’s lots of untapped potential in Africa. McDonald can move in and get a piece of this pie.

2. Adding Healthier Food Items

Nobody wants food full of sugars and carbs anymore. People everywhere seem to have joined a rapidlyexpanding religion called health-consciousness.

But that’s a blessing in disguise.

McDonald’s can add as many healthy options as it wants to the current product offerings. And it’s already doing so. Smoothies, for instance, are now a constant in the company’s restaurants.

Healthier Options Fetch Better Prices

These days, the company’s restaurants are also serving a range of healthy food. One can now order fruit and maple oat meal. Or a fruit and yoghurt parfait. A customer can even order an “artisan” grilled chicken sandwich. The great thing is McDonald’s can charge premium prices for these healthy product offerings.

 In the end, it’s a good thing that people are quitting junk food. The only thing that can limit the items the company can add is its imagination and innovation.

3. Being Associated with the United States

McDonald’s is based in the United States. And that means a lot. For various reasons, many people across the world look at American goods somewhat differently. In the minds of many, the U.S. is still the greatest country on Earth. It’s a country that pursues excellence with diligence.

Many people want to be able to say their product is “made in the USA.”  Robert Von Goeben, co-founder of Green Toys in California, rightly says that “made in the USA” means “quality.”

As a result, there’s always going to be demand for US-made products. It doesn’t matter whether those products are Levis Strauss Jeans or the famous McDonald’s Big Macs. The perception can greatly help the company when it comes time to expand into Africa and other places. 

4. Low-interest Dollar-denominated Capital

There’s lots of affordable debt in the U.S. today. Given its performance numbers, McDonald’s can easily access cheap loans and other types of debt. Capital availability is a hugely critical factor when it comes to raising funds for venturing into new markets.

Combine availability of cheap dollar-denominated debt with the fact that the company makes enormous profits each year.  What do you get? You get a giant with lots of potential to grow into a behemoth.

What Threats is McDonald’s Looking at? 

Are there any factors McDonald’s needs to pay particular attention to? Yes, the company shouldn’t rest on its laurels.

It should innovate continually, churning out products that keep customers satisfied but still yearning for more. 

Let’s now discuss 4 main threats that the company potentially faces.

1. A Rapidly Multiplying “Tribe” of Health-conscious Consumers

We saw how McDonald’s can take advantage of changing tastes and preferences. We mentioned that the company can introduce new, healthier delicacies to cater to the needs of increasingly health-conscious consumers.   But the emerging trend should worry McDonald’s a bit.

The Famous 2004 Documentary

A 2004 documentary called “Super Size Me” did a massive amount of harm to the company. The documentary featured Morgan Spurlock. The person’s health continued to worsen over a one-month period during which he ate only McDonald’s food. After that, many started looking at fast-food in a whole new way.

Burgers can make people grow fat fast.But burgers are also what McDonald’s is best known for. In fact, the company sells the highest number of burgers in the fast-food market. That means sales from this item forms a critical part of the total revenue earned. 

For that reason, the business can’t abruptly abandon burgers and other kinds of similar food. It’s been selling burgers for more than 6 decades, remember.

Meanwhile, more and more people continue to join the health-conscious movement. And that puts the company in a tough spot. Certainly, more consumers adopting healthier habits is a positive thing. Butthat development remains a threat to the company’s earning potential.

2.  Competition in Local and International Markets

Competition is a hard fact of life in almost every business and industry under the Sun. If a business never worries about competition, it’s most probably a monopoly. McDonald’s operates in an environment that sees increasing competition from companies engaging in the same line of business.

In the U.S., McDonald’s direct competitors include Starbucks, Wendy’s, Burger King, KFC, Pizza Hut, Subway, and Yum Brands, Inc.

Other companies whose product offerings overlap those of McDonald’s include CMG (Chipotle Mexican Grill), Panera Bread Company, and Taco Bell.

Let’s briefly analyze these competitors.

Starbucks

Starbucks happens to be one of MacDonald’s mightiest competitors. With more than 28,000 locationsin over 75 countries, Starbucks is no small player.

The world’s number #1 coffeehouse chain, Starbuck comes immediately after McDonald’s in terms of revenue.

Subway

Subway is another worthy competitor. In fact, Subway is the largest restaurantchain globally (in size). Compared to McDonald’s almost 38,000 restaurants, Subway operated more than 43,000 restaurants located in over 100 countries (as of 2017).

Subway has already hit the goal McDonald’s has been striving toward. With Subway, franchisees own and operate 100% of the company’s restaurants. But the company’s sales (Subway’s) have followed a downward trajectory since 2012.

Burger King

With 16,000 locations in more than 100 countries, Burger King is smaller than Subway, Starbucks, and McDonald’s.

However, it’s still a notable competitor. Restaurant Brands International, the owner of Popeyes and Tim Hortons, owns Burger King.

Chipotle

Boasting more than 2,400 locations, Chipotle mainly operates in the U.S, France, Germany, U.K., Canada, and the U.S. The company keeps calling customers’ attention to the quality of its food.

The company uses an effective marketing slogan that goes, “Food with Integrity.” It’s easy to see why the company manages to sell at a higher price point than McDonald’s.

Wendy’s

Wendy’s owns about 6,500 restaurants located in the U.S. and 29 other countries.  Some of the company’s restaurants are franchised while others are not. In comparison with McDonald’s, Wendy’s is rather small, but it’s still an important competitor.

Yum Brands, Inc.

Yum is the commercial might behind KFC, Pizza Hut, and Taco Bell. The company rivals Subway in terms of number of locations. The business owns more than 45,000 restaurants spread out across almost 140 countries. And like Subway, nearly every restaurant (97%) is a franchise.

For the most part, these businesses are doing more or less what McDonald’s does. They sell similar products and run similar systems. Besides, they’re deep-pocketed, just like McDonald’s is. Clearly, the company must keep working hard if it desires to keep its competitors where they belong — behind it.

3. Changes in Commodities’ Prices Could Push Up Costs

McDonald’s uses commodities whose production it has little control over. With commodities such as potatoes, an unpredictable factor (e.g. drought) can lead to sudden price increases.

Unfortunately, the company isn’t always in a position to pass on the increased cost to its customers. Luckily, the company is a large client. Negotiating better deals will always be easier for McDonald’s than it is for small, unknown fast-food restaurants.

Do you think we left anything in this McDonald’s SWOT analysis? It’s possible we did. But you certainly can create a similar analysis for your SWOT analysis assignment, can’t you?

McDonald’s SWOT Analysis: Wrapping it all Up

McDonald’s is in the fast-food business. It’s a well-known brand. Most people easily recognize its famous “Golden Arches.” Also, the company is a global business that with an enormous diversified income. In addition, the company’s extremely efficient systems ensure that it keeps its customers happy and coming back.

But the business has two main weaknesses. First, it over relies on semiskilled labor which means employee turnover is a huge problem. Second, it’s hard for the business to run away from its being associated with unhealthy food.

There are some great opportunities McDonald’s can grab, too. Many consumers in foreign countries tend to believe that US-made products are always of superior quality.  Add that to the fact that quite a few countries especially in Africa have relatively high GDP-PPP. There’s potential for growth and expansion in many underserved locations. Also, it’s relatively easy for the company to access low-cost debt. In addition, consistently good dividend payouts have kept investors happy for years. The company can raise additional expansion capital without difficulty.

Finally, there’s need to appreciate the threats McDonald’s faces. The company battles stiff competition from rivals such as Starbucks, Subway, Yum Brands, Inc., Wendy’s, and Chipotle among others.  Aside from that, the company must deal with the fact that preferences are shifting toward healthier food. The business must look for ways to replace the revenue it gets from fast-food sales. Fortunately, McDonald’s is moving fast to incorporate healthy delicacies into its product offerings.

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Sample Essay: US Economic Shutdown In 2019

Why You Support U.S Economic Shutdown Over Border Wall Stalemate.

economic shutdownEarly 2019 saw partial economic shutdown in the United States as a showdown loomed over President Trump insistence of funding bill include his Mexico border wall budget. The United States of America is one of the world’s superpowers and economic strongholds. Mexico has for some time now attached itself to America, despite the fact that they are only neighbors and not one. However, tables seem to be turning with the election of Donald Trump as the President of America. Mexico has been known for its shady ways of operation with all the smuggling, drugs, gangs and don’t forget that they have a large number of them living in America as illegal immigrants. This spills right into the states under the noses of the government. However if only Mexico would be denied free access to the states then maybe, just maybe the cartels spreading their tentacles to America would be crippled.

Every now and then we must have all stumbled on an epic movie, say the great wall or some other 200BC movie. They all have one thing in common that they all have a wall that around their cities for security. However, incorporating this idea in this generation is quite unthinkable and quite expensive to start it all at scratch. Such plans made in a short time will definitely have an impact on the economy. I do tend to think that right now, all eyes are fixed on Donald Trump to see how everything rolls out. The wall is not yet rolled halfway at least and it already has an impact on the economy. There has been an economic shutdown (something that was quite unthinkable by the rest of the world, However, I will be breaking it down to the simple basics.

Budget projections

Every government is run on a budget and every successful economy is built on solid numbers which are quite elastic giving an allowance of an addition or a deficit of some funds to spare. However, I tend to think that the Mexican wall was not thought out clearly. There was a projection that it would only cost between 8 to 12 billion. However, this figure is in-comprehensive of fluctuation. However putting everything in place, uncertainties included and the new steel material that will be used, the figure rises to a practically an estimate of 18-25$ billion, however, this figure is variable of who is doing the projections but this is the minimum figure in play. This will definitely be a blow to the economy. I tend to think that such a project carrying such a huge amount of time and resources should be done on something that will generate income back. A prototype of the wall was actually created, going down with it 20 million dollars. The prototype was to get the picture of what is to be built and an idea of what to expect. It is also a good platform to put in recommendations and adjustments to the plan such that when the project commences, it will have very few setbacks and almost zero adjustments

Specifications of the wall.

The projected wall is supposed to be quite a fortress and it has attracted the attention of all specialists in the industry and its specifications are quite impressive.  Apparently, the Mexican border wall was in trumps campaigning agenda but in a way, people never thought of it as serious as it now appears to be. However, this wall is specified to Donald trump’s specifications. Let me try painting a picture of this wall in your mind. Once in a campaign rally, he said that he intends the wall to be a see-through wall arguing that “if you can’t have the vision, you don’t know what’s on the other side”. The wall is intended to cover about 2000 miles Homeland security took the liberty to check out the prototype and give some input to make the wall as effective as possible and perform on the primary function of denying access to passage of drugs, illegal immigrants and this means no one will be able to climb through the wall. The wall will be 18-30 feet and will be able to withstand any tunnel going couple of 6 or more feet deep. This eliminates the possibility of “Mexican moles” coming through underground. The wall will incorporate multiple materials to build as part of it will involve concrete, steel and some transparent material that we haven’t been let in on yet. The wall might be shorter than the actual distance of the border having in mind that there are natural walls all around such as rivers, mountains that will not need any additional wall. However such areas will have backup barriers and patrols just around them.

Wall funding

The border wall will definitely cost lots of money and the taxpayers will feel the pinch of that at the end of the day. However, Donald Trump says that actually, Mexico will be paying for the wall. The thought of that sounds crazy but come to think of it, he is the president, the guy in the high seat. This comes days after a couple of offers were given to counteract his offer and there was a bargaining chip on Mexico to help in the funding, but let the Mexican immigrants in the states remain. I tend to think that of all the determined people I know, Donald Trump definitely comes on top. Since back in the day while campaigning, he presented his dreams, goals and agendas and true to the word he is running with it. Nothing is coming between him and his wall. He is determined that wherever the funding comes from either from Mexico or his government it has to be done. The issue on Mexico funding the wall has been adamantly refuted by both the former president of Mexico, Enrique Pena Nieto and the current president, Andres Manuel, however, word is that if they don’t agree to it then the U.S will be cutting off some of its vital income generating trades and this will dent the Mexican economy. I tend to think however that being world leaders who have the whole world’s eyes on them they should talk things out and come to a fair agreement.

Economic shutdown

”We will be forced to close the Southern Border entirely if the Obstructionist Democrats do not give us the money to finish the Wall & also change the ridiculous immigration laws that our Country is saddled with. Hard to believe there was a Congress & President who would approve!” is a statement from one of the many tweets from the president himself. However, I tend to think that there is a bigger picture that he is ignoring of the corporate community at large. For once now the American feels the real impact of the power that is vested into the president, the kind of power that can send people home and bring an economic shutdown to a whole economy. About 25 percent of the federal government has been shut down since Saturday, with roughly 800,000 workers affected, including an estimated 350,000 who are on furlough at home. This number will definitely have an impact on the GDP of the country and maybe, just maybe leave a mark on their international relationships. $11 billion dollars have been lost through the five weeks partial government that has been there.

Purpose of the wall

The Mexican wall is projected to able an added security feature in favor of the United States. For long, the Mexican streets have been run by gangs and they have quite a reputation for the drug trades and this spills right into America. As the saying goes, you cannot get a different result by doing the same thing, you have to do something different to get different results. This is the kind of concept that is at work on the wall project. If adding security personnel still leaves a pothole then what about building a concrete, see-through wall to keep the trade fully out. The thing is that with the completion of the wall, the whole world will be fixated as seeing how effective the wall is and that will keep Donald Trump’s wall on the weighing scale and trust me it will not only the top talk on twitter but also on the top search subject. The wall will serve a primary function of cutting drug trade and routes to the states but also the secondary function of after eliminating the issue of “importing” drugs will now deal with the domestic drug circle.

Pros and Cons of the wall

Come to think of it, the wall is not as bad as it sounds really it has also a good side to it. As much as there has been a shutdown the wall will create a good employment platform as a lot of labor will be required. They will be sourcing of not only skilled labor but also semi-skilled and unskilled guys work on the project. A couple of projections have been done and the signs show that as soon as the finances come through, the wall will commence and it should be completed in the shortest time possible. However, on the other side, there will be a strain in the relationship between Mexico and the United States of America and Mexico would suffer a bigger fate than that. Trades from the states to Mexico will also be affected and I project that the rates will go higher and the process quite longer, thanks to all the security measures and bottleneck requirements. The economic shutdown has already come once and not everyone knows that Trump will still build that wall at the expense of the economy of the nation and not sparing his reputation if need be. At this point the Congress and the Republicans in the “house “ will bend to his will as they try to see the bigger picture of stabilizing the country’s economy, after all, they still got on board after losing 0.2% on their GDP. I also tend to think that the government should be in full support of Trumps plans all the way through, having in mind that he laid all his card on the table for them and they voted him in knowing very well that he is was ready to run with his agenda. This will definitely go down to the legacy of Donald Trump but the more this story is disputed may also add an economic fallback to his legacy. Despite the fact that this may be far-fetched, this wall will definitely go down in history and be a tourist attraction later in the days.

The bigger picture

Let’s look at the bigger picture of the whole economic shutdown in the country. Despite the fact that there has been a partial 35-day old economic shutdown in the county and a strain on the economy, there is also something that will come from this whole situation. Donald Trump has set up his priorities to bring the military on board and get them a good deal out of this whole situation. The world went into mixed reactions after Donald Trump withdrew American soldiers from Syria and they thought that this has some political backing to it or some hidden agenda but they are simply coming back home and give a helping hand. He said that the American army hasn’t gotten such funding dedicated to them in a very long time and he has a huge pool to funds dedicated to them. There also is a good bit to this, right? The county will also get rid of the issue of drugs and substance and this will set the young people to purpose and this actually gets the house business in order. As much as the everyone is entitled to their own opinion I tend to think that the fact that they choose to get this government working for them, with all their agenda they are obliged to work with them and move with the flow. The economic shutdown has been enlightenment on the American people on what system they operate on and how much some decisions will flow down to the neighborhood and the household.

Assignment Topics on Economic Shutdown & US-Mexico Border Impasse

Intense debate has emerged on the impact of economic shutdown on the US economy. At expertwritinghelp.com we expect students to be assigned essays and research papers that will discuss the following topics:

  1. The impact of economic shutdown on the U.S economy
  2. Economic benefits of the US-Mexico border wall
  3. Your position on economic shutdown

These are some of the assignment topics that you will likely encounter. Feel free to buy economics essays from our economics essay writing service online.

 

Sample Essay: Early Industrial Revolution

The Significance of the Early Industrial Revolution

sample essay on industrial revolutionEarly Industrial Revolution or Pre-Industrial Revolution refers to the period before the advent of the Industrial Revolution. The period between 1500s and 1750s marked a shift in the foregoing level of selling and buying goods. The impetuous existing art forms and production of goods were brought to polarity in this era. The voyages from Western Europe led the way for the Revolution. The chief trade practices included trading in precious metals, handicrafts, cotton, etc. The farmers and merchants wanted to raise money by increasing trade with other nations. This led to the expansion of economy through fostering development in the involved nations. It is crucial to understand the genesis of the Early Industrial Revolution, which emerged through several centuries stimulating growth in the West and the rest of the world (Persson, p. 3, par. 2).

During the period of Early Industrial Revolution, there were no machines for equipping the making of goods. The manual labor was used for performing tasks and assembling units for the finished goods. During this era, textiles and other products were made at home, and people would trade their goods. Due to inadequate transportation and communication systems, the trading of goods was not possible on a large scale. Then the Europeans sought their way toward innovation and technology, which made their demands and market clearly available to the mass population. This paper discusses the significance of the Early Industrial Revolution, and the developments and innovations, such as Renaissance warfare, boatswain’s pipe, astrolabe, quadrant, and spinning wheel in addition to the roots of Industrial Revolution, the expansion of markets in the Pre-Industrial era, the European Cities, the cottage industry, the upswing trend in agricultural practices, and the innovation approach paving the way to the Industrial Revolution.

Under this section, the paper discusses the roots of Industrial Revolution in Pre-Industrial society, the expansion of markets in 1550s, the European Cities in the Pre-Industrial Society, the Renaissance warfare and other innovations in navigation and sailing apparatus, the rise in standard of living through urban set ups, the upswing trend in agricultural practices, the role of small scale industries in 1500s, such as cottage industries, and Pre-Industrial financial innovations, which led to a greater Industrial Revolution from 1750 onwards.

The Roots of Industrial Revolution in Pre-Industrial Society

The Early Industrial Revolution connoted a slow lifestyle with limited resources. During the 16th century, there were no manufactured goods; instead, there were various raw materials available in the rural areas. The wood was used to carry the domestic activities, and wind and water were the determining factors for the source of power. The basic source of income for the people of the Early Industrial Revolution in the 16th century merely came from farming, cow-raising, selling milk, etc. The Early Industrial Revolution also saw no substantial increase in population for decades (Tucker, par. 2). The common people grew in the fear of epidemics, such as Typhoid, Influenza, Plague, etc. These diseases resulted in mass dying due to insufficient care and medical facilities (“Pre-Industrial Society,” par.3).

Expansion of Markets in 1550s

history essay writing serviceThe Early Industrial Revolution has its significance in promoting and establishing strong foundation for the Industrial Revolution. During the 1550s, there was no existence of commercial industries. The small scale trade practices were emphasized from the households and agricultural lands. The craftsmanship was used to balance the lifestyle, for example, by making furniture, handicrafts, pottery, masonry, etc. (“Pre-Industrial Society,” par.8). The home-based occupations, such as weaving cloth and making dresses out of this cloth material were part of fine craftsmanship in the Early Industrial Revolution. The labor worked hard to complete their day-to-day tasks, but the production was very slow because of few tools and equipments. Some cities became centers for providing basic raw materials and goods. Markets developed for selling agricultural goods, handicrafts, and pottery items. During the Early Industrial Revolution, the elite people owned large areas of land and hired labor for growing agricultural produce, and also assigned work to the servants to help them carry out their daily activities. On the contrary, the poor people made goods from the raw materials and managed their lifestyle with minimal agricultural produce from small lands and cow-raising.

European Cities in the Pre-Industrial Society

Many cities flourished during the Early Industrial Revolution era due to their establishment of markets. The main attraction that accounted for the growth of a town into a city was the spread of its market. Florence, a prominent European city attracted traders, as it proffered handicrafts and several mechanically tinkered clay pots, kettles and pans (“Pre-Industrial Society,” par. 9). The Early Industrial Revolution era witnessed advancement in the European cities that were producing gun-powder and cannons through their basic industries with no thoroughly equipped tools.

Renaissance Warfare and other Innovations in Navigation and Sailing Equipment

In the 16th century, no democracy existed on the world map. There were rulers, ruling their dynasties and trying to expand their empires in order to gain more and more power. Through army and cavalry, with renaissance warfare, the rulers attacked the other empires. The use of war hammers, swords, clubs and maces, winged spears, lances, pikes, etc. as tools for warfare adds to the innovation list during the Early Industrial Revolution. The use of mechanical clocks and navigation tools, such as boatswain’s pipe, astrolabe, quadrant, and sandglass marked the beginning of 16th century (“Pre-Industrial Society,” par.9). These major inventions came up in navigation and sailing equipment.

Rise in Standard of Living through Urban Establishments

The increase in agricultural produce helped in feeding the population and to prevent health degradation, which formerly occurred due to shortage of food in the 15th century (“Pre-Industrial Society,” par.4). A wider view of competition was created among the people. They began working more in order to get more wages and have a better livelihood. They uplifted from the previous concept of living in the rural areas to better townships. They adapted to better living conditions and went to learning centers to get education about basic skills, which would be helpful in their survival to some extent, thus, moving toward urbanization.

An Upswing Trend in Agricultural Practices

One of the few very important reforms was observed during the Early Industrial Revolution, which was about the change in agricultural practices and patterns. The food production in Europe increased to a great extent in the future period as a result of persistent endeavors of the farmers and traders of the Early Industrial Revolution. In the mid 1500s, the demand for most of the products, such as textiles, warfare, cotton, etc. increased (Brock, p. 5, par. 3). Later on, in 1750-1800s, the historians called this reformatory era as the Agricultural Revolution (“Pre-Industrial Society,” par.15).

The Role of Small Scale Industries in 1500s

After 1500, the European markets expanded from Asia to the American continent. Europeans established industries and markets in other nations as well (McDowall, par. 3). The aim of such establishment was the expansion of their markets to extract more revenue out of other nations. The financial industry and cottage industry of Europeans also expanded tremendously. The Dutch East India Company expanded its market in order to derive spices from the South-East Asian countries (“Pre-Industrial Society,” par.11).

Cottage Industry in the Early 16th Century

Cottage industries were also seen as a peculiarly expanding market. The poor families depended on agricultural land, worked night long by weaving cloth with fusty machines, such as old spinning wheel in their cottages. The merchants who traveled in the countryside, in search of great deals, bought the fancy spun cloth from the small markets of cottage industries. Sometimes these merchants would also provide raw materials, such as cotton or wool, and paid them for the labor, and then took the finished goods to sell them further (“Pre-Industrial Society,” par. 14). This is how the cottage industry allowed the growth of industries in the Early Industrial Revolution era.

Pre-Industrial Innovations of 16th Century Leading to a Greater Industrial Revolution from 1750 onwards

Several innovations in banking and financial sectors laid the foundation for the following Industrial Revolution. The growth of traders and consumers of the 16th century, later on, attributed to the Industrial Revolution from 1750 onwards. Beginning from 1500, the trade expanded globally by transportation via boats and ships. The navigation instruments helped to increase the market and to discover nations. By 1600s, the Europeans living in the cities got interested in the markets and global trade opportunities by investing in financial innovations, and became difficult to dissolute the urban culture from them (“Pre-Industrial Society,” par.13). They wanted to expand the production and trade deals through the use of coal and textiles. These two raw materials i.e. coal and textiles gave a kick-start to the Early Industrial Revolution. In the 1700s, coke was widely used in the production of iron; also, several textile centers were established, and the construction of roads and canals was done. This made the country ahead in many inventions, and coal being a pivotal material, for example, it was widely used in operating the steam engine. In order to meet the needs of the families and the society, it motivated the traders and producers of the Early Industrial Revolution to think of strategies to manufacture goods on a large scale. Various reforms in the agricultural field, such as Crop Rotation, was invented by the Dutch (“Pre-Industrial Society,” par.16) Thus, the European markets expanded in numerous countries, and this paved the way for the Industrial Revolution.

Conclusion

Hence, the paper discussed the significance of the Early Industrial Revolution along with developments and innovations, which eventually provided the path to the greater Industrial Revolution. The Early Industrial Revolution emerged before the Industrial Revolution and laid the roots for the latter one. The beginning of the Early Industrial Revolution dates back to 1500s. The Early Industrial Revolution is said to be a domicile of Britain. It started in Britain and then expanded to the faraway lands. The small scale industries transformed into large scale after the developments in the field of technology. The use of wood, as a fuel, in everyday lives was replaced by coal. A few cities, such as Florence emerged as the prime centers of raw materials and goods. All these cities were patronized by the European merchants who traveled the countryside for varying trade purposes. The use of several renaissance warfare and innovations in this field is responsible for early developments in the Western Civilization. The other innovations included the sandglass, quarter, boatswain’s pipe, and astrolabe, which were also important instruments for navigation and sailing. The arrival of new technologies after the Early Industrial Revolution owes its credit to the zeal of the people from the Early Industrial Revolution era who wanted to bring reforms in their lifestyle, farming practices, and production methods to eventually fetch more profit through sale of their merchandise to other nations across the seas.

Works Cited

Brock, F. “How Pre-Industrial Era English and Dutch Trade Influenced Social Change,”

University of Massachusetts, https://www1.umassd.edu/euro/2007papers/brock.pdf. Accessed 17 April 2018.

McDowall, C. “World Textile Trade 1500-1800 – Pre-Industrial Revolution,” The Culture

Concept Circle, 31 January 2014. https://www.thecultureconcept.com/world-textile-trade-1500-1800-pre-industrial-revolution. Accessed 17 April 2018.

Persson, K.G. “A New Economic History of Pre-industrial Europe,” University of Copenhagen,

https://www.econ.ku.dk/kgp/doc/Workfrms/new%20econ%20hist.pdf. Accessed 17 April 2018.

“Pre-Industrial Society.” Bellarmine College Preparatory,

https://webs.bcp.org/sites/vcleary/modernworldhistorytextbook/industrialrevolution/preindus.html. Accessed 17 April 2018.

Tucker, G.S.L. “English Pre-Industrial Population Trends,” The Economic History Review, vol.

16, no. 2, https://onlinelibrary.wiley.com/doi/pdf/10.1111/j.1468-0289.1963.tb01726.x. Accessed 17 April 2018.

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How To Write Economics Research Paper

How to Write Economics Research Paper

how to write economics research paperAre you a student undertaking economics either in university or college? Then you know that economics is the study of efficient allocation of limited resources to optimally produce goods and services. Economics has two broad branches that include microeconomics and macroeconomics. Economics students study the two branches at different levels as their concepts are interrelated. During your Economics class you will be required to write microeconomics essays, research papers and case studies. Similarly you will be required to write macroeconomic essays, research papers and case studies. Our expert macroeconomics assignment help experts will give you invaluable tips on how to write effective economics papers to garner maximum points.

In writing an economics research paper, you’re expected to demonstrate your academic knowledge on your subject. Your readers (professor or research committee) will be evaluating your ability to craft questions based on economic logic. Also in scrutiny will be your ability to critically analyze literature, and your ability to sort out empirical issues when they arise.

Your paper should demonstrate that you’re more analytical, sophisticated and knowledgeable about economics than, for instance, a New York Times editorial writer.

To write an effective economics research paper, you should provide evidence, cite sources, and clarify economic trade-offs. Your paper should also include methods of constrained optimizations and statistical analysis which is a core part of economics as a science.

Where do I start when writing an economics research paper?

Start with research

The research process is a critical first step. Research will help you:

  1. Developing a deeper and wider understanding of your subject
  2. Generating ideas for your paper
  3. Developing your thesis statement
  4. Articulating your ideas with authority

Gather relevant materials and start reviewing them. Here is a list of information sources:

  • Books and periodicals
  • Google scholar
  • Online almanacs, databases, and encyclopedias
  • Newspapers
  • Government reports, guides, and publications

As you sift through information, take notes and keep track of the reference materials so that you can cite them later in your paper.

Organize before writing: Now that your research has yielded tons of idea, you should start to logically organize your presentation. Without this important process, your research paper will lack focus and your thoughts will be jumbled.

Types of Economics Research Papers

Theoretical

Theoretical papers are a great option when you can’t find reliable data or when data is unreliable. This type of papers make practical assumptions about the actors involved, the environment and then make a prediction of what will ‘theoretically’ happen in case the factors described by the research question came true.

Empirical

Empirical papers are an excellent choice when relevant data is available. Empirical papers use collected data to make conclusion.

Empirical + Theoretical

Empirical + theoretical papers make assumptions and then use data to approve or disprove those assumptions.

Thesis Statement

A thesis statement is a brief summarization of the key point of your essay and a preview of the supporting points. The thesis statement is a critical feature of your paper as it guides readers on the direction your paper will take – from the main idea to supporting points.

Outline

An outline will help you articulate your thoughts in a coherent and logical manner. Once you’ve come up with a thesis statement, the next step is crafting an outline of the main points that support your thesis. Have the main points as your subheadings. You should then organize all your information under subheadings.

Information that doesn’t fit into your outline, however interesting you find it, won’t add value to your paper. Keep your focus on your thesis and leave out anything that’s irrelevant.

Writing an effective research paper

Once you’ve developed a thesis statement and organized an outline, you’ll now have a clear direction on how to write your paper.

Elements of a Good Economics Research Paper:

Introduction

An introduction presents the background and the context of your paper. Engage your reader by starting with a strong opening sentence. Writing academic papers doesn’t mean writing in dry and boring prose.

Your introduction should answer the following questions:

  1. What is the paper about?
  2. Why should I read it?
  3. What steps do you want me to take?

Here is how to answer the questions:

  1. Set context – Provide information about your main idea. Help the reader make sense of your topic and your claims.
  2. State your main idea and why you think it’s important – Explain to your readers why they should read and care about your paper. Create a clear and compelling essay that gets people to read and act on its findings.
  3. State you claim – compose a brief statement that states your position.

Body

Your outlines will come in handy at this stage. However, your writing should not be limited to the outline – an outline is a guideline to keep you focused. Be open-minded but remain focused on your thesis statement and in articulating supporting points.

Apply the rule of three. Craft supporting arguments for your points, start with a strong point, followed by an even stronger point, and then close with the strongest point.

Here are more tips on how to write your body:

Data overview: Outline the data you’ve used, point out its source, denote its strengths and weaknesses and the time frame under which it was collected.

Literature Review: Chances are, the questions you’re exploring are not new. Give a brief summary and analysis of other works in your area of focus and how they relate to your work.

Conclusion

It’s at this point that you wrap up your presentation. Most research papers end with a restatement of the thesis statement. Present a reword of your thesis statement. Briefly explain how your points support your argument. If there are gaps in your research, point out what needs to be researched further.

Revise your research essay paper draft.

Revising your paper takes more than just fixing typos. Here is a checklist of what you need to do:

Developmental Editing

  • What’s your thesis statement? Is clear? Is it concise?
  • Does the paper flow logically from beginning to end?
  • Do the paragraphs follow a logical sequence?
  • Are your ideas detailed and concrete?
  • Is your thesis statement fully supported by your arguments?
  • Have you cited all your sources?
  • Are any of your ideas repeated?

Line edit

  • How is your language? Is it clear? Is it specific?
  • Does your narrative flow smoothly and clearly from sentence to sentence?
  • Are their filler phrases and words that need to be cleared?
  • Is your grammar, spelling, and punctuation on point?

Writing a research paper is a lot of work, but it if you follow the suggestions above, it can be can enjoyable and rewarding process.

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How to Write Financial Analysis Paper

how to write financial analysis paperAre you doing an MBA degree or a finance related course? if yes, then you should keenly read our post on how to write financial analysis paper. In this article you will learn essentials of writing a winning financial  analysis paper. Our professional economics essay writing service will present key secrets to researching and writing a company or financial analysis that appeals and informs the targeted audience.

Even in your professional work, particularly those who become equities researchers and investment analysts, you will be required to write and present financial analysis papers to management or investors. It is therefore imperative to learn and understand the format and analytical techniques to utilize in the paper.

Learn Key Tips On How To Write Financial Analysis Paper

Writing a detailed financial analysis of a company is very crucial since it is one of the tools used in determining whether to invest in the business. Note that there is no particular technique of writing a financial analysis, and the presentation styles will always differ. However, it is good to ensure that you include the key components in any financial analysis you prepare. Bear in mind that the financial health of a company can only be determined once all the components have been carefully reviewed.

A financial analysis paper provides information about the financial health of a company. Even though the history of a company can be summarized by a financial statement and stock performance, the financial analysis paper tries to incorporate all these information and more into a comprehensive and coherent system. Lenders, investors and financial analyst also use a detailed financial analysis, to find out if a company has the capability to deliver a good return on investment.

Executive summary

Note that this is the section of the paper that includes the most significant research from a financial analysis in a brief, easy-to-read format. The summary condenses the information presented in the whole report; comprising the insinuations those data bring to the industry and the company at large. In most cases, this section includes a concise summary of the firm’s mission, anticipated outlook, current performance, and history. On top of that, the section comprises an overview of the company’s industry, competition and market conditions.

Financial statements

financial analysis essay writerThe collection of financial declarations of a company is a core part of a financial analysis paper. The financial statement includes the balance sheet, equity statement, income statement and cash flow statement. The work of the balance sheet is to show the firm’s liabilities, allocation of properties and the equity of each shareholder.  The income statements will outline the income, expenses, and profit or loss of a company.  On the other hand, the investment statement will show all the changes in shareholder’s equity. The cash flow statements will explain where the business obtained its cash and how it is spending the cash.

Industry analysis

It is evident that no company exist in a vacuum, and for that reason, a financial analysis paper should comprise an examination of the firm’s industry. The report must include comparisons between the company’s health and that of its competitors, and it will show the company’s market share and prominence in the industry.  These features assist investors to find out if the business is competitive in its industry and if it would make a productive investment.

Financial ratios

A financial ratio is meant to disclose such aspects like the liquidity of the firm, debt amount and efficiency of the company. The current liquidity ratio can be defined as the proportion of a company’s current assets to its current liabilities. On the other hand, the debt ratio is the ratio of the firm’s total debt to its total equity. Note that the return on equity ratio is the one that weighs the income of a company against the equity of its shareholders. The price to earnings ratio can be derived by dividing the existing market price by the after-tax profits per share.