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ECO211 Macroeconomics UiTM assignment example Malaysia

In this assignment, you will be working on a Macroeconomics UiTM assignment example. The focus of the project is to analyze and provide an opinion on how Malaysian businesses are changing their business models in light of global economic conditions. In addition, the project will also cover relevant concepts related to Macroeconomics such as supply and demand curves, Keynesian economics, financial stability theory, and international trade.

The objective of this assignment is to develop a model which explains how economic fluctuations in different parts of the world can lead to social unrest and conflict. In order to do so, you will first need to identify five factors that have contributed significantly to regional instability in recent years. After identifying these factors, you will be able as part of your model to consider how policy measures (e.g., tariffs) might be able to mitigate or prevent these problems from becoming more serious.

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In this assignment, you will be working on the Malaysian economy. The goal of this assignment is to learn about different aspects of the Malaysian economy and how it has changed over time. You will also need to answer some questions about Malaysia’s economic situation and future prospects.

Assignment Brief 1: Explain the macroeconomics principles and concepts and theories

Macroeconomics is the study of how economies function and what policies can be used to improve growth. The most important concepts in macroeconomics include demand-side economics, supply-side economics, Keynesianism, and monetarism. Macroeconomic theory tells us that there are many interacting factors that determine economic outcomes and that it is not possible to predict which policy interventions will lead to increased growth or lower unemployment.

Macroeconomics deals with questions such as who makes decisions about economic policies, what factors shape prices, how government intervention affects national income and production, why businesses expand or contract, and how exchange rates change over time. Macroeconomic analysis can be used to answer questions about social stability (e.g., does a recession mean that people are losing their jobs?), public debt management (how should we manage our country’s money in order to avoid future fiscal crises), poverty alleviation (what kind of interventions do we need in order to reach target levels for development?), trade policy (should we open up more countries to competition or maintain current restrictions?), business cycle theory (why do business cycles happen? What causes them?), investment strategies ([How did WWII affect investments],[What Factors Affect Investment]) etc.

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Assignment brief 2: elaborate and relate macroeconomics fundamental and indicators with the current situation.

Macroeconomics is the study of how individual economies interact with one another, and it has a significant impact on social stability. In order to better understand current economic conditions in your area, you will need an understanding of macroeconomic indicators. There are many different types of macroeconomic indicators that can be used to explore market trends, assess public finances, and measure progress or decline in the economy over time.

The current macroeconomic situation is characterized by high levels of debt and deficits, low growth rates, and a number of economic difficulties. The main drivers of the current macroeconomic crisis are speculative bubbles that have developed in various financial markets around the world. These bubbles burst and led to large losses for investors as well as significant job loss and housing market collapse. In order to prevent future depressions, it is important to identify the root causes of these bubbles so that we can address them effectively.

Assignment Brief 3: Apply appropriate measures to solve macroeconomics problem

The solution to the macroeconomics problem usually requires a change in thinking. Many economists believe that the root of the problem is not within national economies but between them and international markets. The cause of this mismatch is often identified as: government spending, interest rates, money supply (currency), productivity levels, and other factors that affect economic performance at different levels of society.

In order to solve macroeconomics problems, it is important that one understands the following:

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ECO211 Assignment 1

ECO211 Assignment 1

Five Macroeconomics Objectives from Conventional Perspective ECO 211 Assignment 1 Name : Shahrul Aiman Badrol Hisham

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Five Macroeconomics Objectives from Conventional Perspective ECO 211 Assignment 1 Name : Shahrul Aiman Badrol Hisham Matrix No : 2013875332 Group : JAC1104C Lecturer : Sir Mustafa Due Date : 15 February 2015 Question: Explain five (5) Macroeconomic objectives from conventional perspective Full Employment The first Macroeconomic objective from conventional perspective is to achieve full employment in all available factors of production like labour, land, capital and entrepreneurship. Full employment is a situation where all available resource is utilized fully. The objective does not necessarily need full employment in a country; instead low unemployment rate is also accepted as the objective of Macroeconomics. Full employment is needed to increase the output of goods and services which will then increase the Gross Domestic Product (GDP) of the country. Unemployment means that there are available resources that are not being utilized effectively and efficiently. Unemployment rate is used to show the percentage of the labour force currently unemployed. Unemployment has several bad consequences such as economic loss and morale loss among society. Employment is usually divided into 2 sectors; goods and services. The number of workers in each sector is crucial to the economy. For a country that is more focused toward production like China and India, the number of workers in the production of goods is immensely high. In contrast, for countries like the U.K which are focusing more on the service sector, the number of employees in services is 4 times higher than workers in the manufacturing sector. Price Stability Another macroeconomic goal is to maintain price stability or control rate of inflation in the country. The main objective is to keep the inflation rate ideally at 0% or as low as possible. Inflation is usually defined as rise in the general level of prices. Inflation generally reduces the value of money over time. This in turn will reduce the buying power of consumers in an active market. It is in the interest of every nation to keep the inflation rate as low as possible. Inflation will affect the economy both positively and negatively. The negative effects of inflation include an increase in the opportunity cost of holding money. Inflation over time will reduce value of money so it may discourage investments and savings among citizens. If the inflation rate is increasing rapidly, shortage of goods might happen as sellers and consumers alike will begin hoarding goods out of concern that the price will increase soon. The sellers will want to increase their profits and the consumers will want to avoid buying the item at a higher price. This is a highly unethical behaviour for a business to have. However inflation also has some positive effects to the economy by ensuring that central banks can adjust interest rate to reduce recession and encourage investments in non-monetary capital projects. Malaysia has been affected by inflation many times in the course of its life. As at 31 December 2014, the inflation rate in Malaysia was recorded at 2.7 percent. The inflation rate is lower than the average inflation rate from 1973 until 2014 which was recorded at 3.7 percent. This means that the year 2014 is a good year for Malaysian economics. Inflation rate in Malaysia reached an all time high of 23.9 percent in March of 1974 which led to an absurd increase in price of goods and the value of Ringgit Malaysia dropped very low. The inflation rate is expected to increase to 4 percent in April 2015 when Goods and Services Tax (GST) is introduced to replace the current Sales and Services Tax (SST). Economic Growth To achieve economic growth, the economy has to be operating at maximum capacity i.e. full employment. Economic growth typically refers to the growth of potential output i.e. production at full employment. Economic growth tends to be measured in terms of rate of change in real GDP. The term ‘real’ usually means that it is inflation-adjusted, in other words, inflation effect has been eliminated from the price of goods. Economic growth is a long term process. A nation has to invest a lot into human and physical capital, and also technological advances which will lead to increased productivity. The growth rate is not constant every year; rather it will have its ups and downs over short term periods. This is called the business cycle. In a business cycle, there are four phases; peak, recession, trough and recovery. The economy will generally go through all the phases and repeat the cycle over and over again. Even small increase in growth rate will have large effects. Economic growth rate can be measure by evaluating the full production output per capita over the years. If there is an increase in national income per capita, then there is an increase in the growth rate. This means that the citizens are gaining more income which will lead to increased happiness. An increase in economic growth rate can also reduce and eliminate poverty in a country. The highest recorded growth rate in Malaysia between 2000 and 2014 is 10.3 percent in the year 2010. Equitable Distribution of Income Another goal of macroeconomic is to reduce the gap between higher income and the lower income groups. This is to ensure that everyone has the same standard of living and no poverty exists in the country. Disparities in income will create social friction between the rich and the poor and bring about many problems such as thefts and abuse. A more equitable distribution of income may also help accelerate economic growth and promote economic development. If the poor gets more income to spend from redistribution of income, it leads to an increase in aggregate demand in the economy. This is turn will lead to more production of goods and services to fulfil demand and this will create job opportunities for the citizens. The government will also have an easier time administrating the country if the citizens are happier. People who feel like they don’t get enough reward for their work will rebel against the government and will create social unrest. Furthermore, the poor will be able to benefit from healthcare and education with a more equitable distribution of income. However there is also a negative effect of this goal; it will lower the incentive to work hard, take risks and innovate. Some of the solutions available to achieve equitable distribution of income is to introduce a progressive tax system so that higher income group has an increased tax rate compared to the lower income group. The extra money from taxation can be used as subsidy to the poor and needy people. In the long run however, the government should aim to improve access to education, creation of jobs and reduce corruption. To achieve Equilibrium in Foreign Sector When the cash inflow of a country is equal to the cash outflow, it means that the country has achieved a balanced Balance of Payment (BOP). The transactions that affect the BOP are usually imports and exports and also include financial capital and financial transfers. BOP of a country is the record of all monetary transactions between the country and the rest of the world. If a country is importing more than its exports, then the trade balance BOP will be in deficit. The opposite happens when the country exports more than they are importing. One of the ways to correct a deficit or a surplus BOP is by readjusting the internal prices and demand. These changes are optional for the surplus country but compulsory for the deficit country as to avoid further decrease in value of their currency. When a country sells more than it buys, it will experience a net inflow of money. This will lead to a favourable or surplus BOP. To achieve equilibrium, the country has to increase the money supply by printing more bank notes which will lead to inflation and an increase in prices. This will make the goods of the country to become less competitive thus reducing demand, and reducing the BOP surplus back to zero. A deficit BOP will occur when a country buys more than it sells. This will automatically have a deflationary effect to the country. The prices of goods by the country will be reduced and thus become more competitive in the market. The demand for goods by the country will increase and thus correcting the imbalance back to equilibrium.

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