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Revision notes on The Objectives of Firms for the AQA A Level Economics syllabus, written by the Economics experts at Save My Exams.
Definition of Finance. Finance is the study of the management, movement, and raising of money. The word finance can be used as a verb, such as when the First National Bank agrees to finance your home mortgage loan. It can also be used as a noun referring to an entire industry.
- Acknowledgments
- Introduction | The Economic Approach
- ECONOMICS AND THE PROBLEM OF SCARCITY
- THE THEORY OF INCENTIVES
- One | Writing Economically
- GETTING STARTED
- THE KEYS TO GOOD ECONOMICS WRITING
- Research
- Organization
- Analysis
- AN EXAMPLE FROM THE LITERATURE
- Use the Active Voice
- Put Statements in Positive Form
- Omit Needless Words
- In Summaries, Generally Stick to One Tense
- MANAGING YOUR TIME
- Two | The Language of Economic Analysis
- ECONOMIC MODELS
- Qs = S(PCD, PP).
- HYPOTHESIS TESTING
- IMPROVING THE FIT
- Three | Finding and Researching Your Topic
- FINDING A TOPIC FOR A TERM PAPER
- FINDING AND USING SOURCES
- TAKING AND ORGANIZING NOTES
- Four | The Term Paper
- OUTLINING YOUR PAPER
- WRITING YOUR LITERATURE REVIEW
- PRESENTING YOUR RESULTS
- How Many Results Should I Report?
- The Bottom Line
- DISCUSSING YOUR RESULTS
- PLACING CITATIONS IN YOUR PAPER
- LISTING YOUR REFERENCES
- Three Types of Sources
- Basic Guidelines
- SAMPLE REFERENCES ENTRIES
- Appendix A | Fields in Economics
- COMPARATIVE/REFORM ECONOMICS
- ENVIRONMENTAL ECONOMICS
- ECONOMIC HISTORY
- GAME THEORY
- INDUSTRIAL ORGANIZATION
- PUBLIC FINANCE
- URBAN ECONOMICS
- Census
- National Longitudinal Survey (NLS)
- THE INTERNET
- NBER Working Papers Database
- Statistical Universe
- RePEC (Research Papers in Economics)
- Individual Economics Departments Websites
This guide was proposed and supported by The Harvard Writing Project. Nancy Sommers, Sosland Director of Expository Writing, and Kerry Walk, Assistant Director of the Writing Project, read drafts, gave advice, and saw the project through from inception to completion. Kerry Walk wrote the section on Formatting and Documentation (chapter 5). Christop...
Economists study everything from money and prices to child rearing and the environment. They analyze small-scale decision-making and large-scale international policy-making. They compile data about the past and make predictions about the future. Many economic ideas have currency in everyday life, cropping up in newspapers, magazines, and policy deb...
Since its beginnings as “the dismal science,” economics has been preoccupied with the problem of scarcity. The hours in a day, the money in one’s pocket, the food the ground can supply are all limited; spending resources on one activity necessarily comes at the expense of some other, foregone opportunity. Scarcity provides economics with its centra...
The theory of incentives posits that individual agents, firms, or people, make decisions by comparing costs and benefits. When costs or benefits – the constraints on choices – change, behavior may also change. In other words, agents respond to incentives. Many recent developments in economics and public policy are based on the theory of incentives....
Pick up any publication of the American Economics Association and you will discover a few things about writing economics. First, the discourse is often mathematical, with lots of formulas, lemmas, and proofs. Second, writing styles vary widely. Some authors are very dry and technical; a few are rather eloquent. You don’t have to be a great “writer”...
Getting started is often the hardest part of writing. The blank page or screen can bring on writer’s block, and sustaining an argument through many pages can seem daunting, particularly when you know your work will be graded. Don’t let these concerns paralyze you; break the paper down into smaller parts, and get started on the simpler tasks. Econom...
Writing in economics, as in any academic discipline, is never simply a matter of asserting your opinions. While your ideas are important, your job includes establishing your credentials as a writer of economics, by demonstrating your knowledge of economic facts and theories, identify-ing and interpreting the underlying economic models, understandin...
Economic research often entails pouring over reams of data from any of a number of standard statistical sources (see appendix B). For some assign-ments, you will want to begin your paper with a review of the literature on the topic. For a term paper, this might entail an exhaustive library search (see appendix C); for other assignments, you may nee...
Once you have found your sources, you will need to organize your ideas and outline your paper. Economists usually organize their writing by using simplified models (such as supply and demand, cost/benefit analysis and comparative advantage). Therefore, a literature review is often followed by the presentation of a model, usually one of the standard...
Reducing something complex into simpler parts is an integral part of economic rigor. Statistical analysis (or econometrics) takes vast piles of data and returns useful numerical summaries that can be used to test various economic models and make predictions about the future. Mathematics is very helpful here because it is a precise language that can...
Generally, in the first few paragraphs of a paper, economists set up their research question as well as the model and data they use to think about it. This style can be useful to both writer and reader as it establishes the structure of the work that follows. Unfortunately, it sometimes means a stilted or dry presentation. An excerpt from a piece b...
It turns a weak statement (first one) into a more direct assertion (second statement): In this paper, the effect of centralized wage-setting institutions on the industry distribution of employment is studied. This paper studies the effect of centralized wage-setting institutions on the industry distribution of employment.
Many day-traders did not pay attention to the warnings of experts. This statement is more concisely conveyed as follows: Many day-traders ignored the warnings of experts.
In spite of the fact that the stock market is down, many experts feel that financial markets may perform reasonably well this quarter. A better way to express the same thing is: Although the stock market is down, financial markets may still perform reasonably well this quarter.
This study showed that dividend payouts increase when dividend income was less tax-disadvantaged relative to capital gains. An improvement uses the present tense throughout: This study shows that dividend payouts increase when dividend income is less tax-disadvantaged relative to capital gains.
The best laid plans for writing a good paper can be wrecked by poor time management. Make sure you clear up any confusion about the assignment right away. Set deadlines for completing each phase of the project: Start the project by finding your topic. Begin your research. Start an outline. Write a draft. Revise and polish. Divide your time, from th...
The economy is a complex web of interdependent elements, and understanding any part is a significant accomplishment. The price of tea in the US is determined by many factors, including individual preferences (or tastes), labor costs, weather conditions and the price of tea in China, among others. Preferences, labor costs, weather, etc. are in turn ...
Economic analysis is characterized by the use of models, simplified representations of how economic phenomena work. Supply and demand, cost/benefit analysis and comparative advantage are examples of basic economic models. A model is a theory rendered in precise, usually mathematical, terms. Economists build models the way curious scientists do: Red...
In equilibrium, the quantity of CDs supplied equals the quantity demanded: Qd = Qs. In this model, the price of plastic and the level of income are exogenous variables; the price of CDs and the quantity of CDs exchanged are endogenous variables. By plugging data (exogenous variables) into the model, it is possible to predict the behavior of the end...
A model’s predictions about the future or the past are essentially empirical hypotheses: claims, supported by facts, about how some economic phenomenon works. Most economists, aspiring to be good social scientists, would like to test their hypotheses under laboratory conditions. But this is not ordinarily possible. Instead, we take sample data from...
The fit between a model and reality is never perfect. When the fit is good, we can make better predictions about the future and better understand the past. In the former case, the passage of time will fail to disconfirm the prediction; in the latter case, historical research will match our expectations. As in any science, our theories can really on...
Economists view the world through the lens of efficiency, starting from the assumption that individuals behave rationally and focusing on the problem of allocating scarce resources. From this common analytical perspective, economists study a wide range of topics, involving the behavior of individuals, organizations and nations. The economic approac...
Though there is no one way to find a topic, thinking of the issues that interest you is a great place to begin. While the range of possible topics is large, there are some well-defined fields in economics, and your own interests are likely to fit into one of these (see Appendix A for an annotated list of fields). Course materials, textbooks, handou...
All academic writing involves the use of source materials. Archaeologists look in the ground for artifacts, about which volumes of research may subsequently appear. Biologists look through microscopes and write up the laboratory experiments they perform. Historians study documents; sociologists interview subjects . . . Economic research typically b...
to new evidence or compare two models and see which does a better job explaining the data you have found. These works will also point you to additional sources. Bibliographies, citations and footnotes may reveal a single, seminal forerunner. Read it. If you come across a “review” or “survey” article, you have hit the jackpot. It will contain an a...
You have chosen your topic, done your research, and settled on your ideas, and now you have to write the paper. If you have done your job properly up to now, you should have a topic, some data and plenty of notes on things you have read. Now your task is to decide how to focus your question and ideas, assemble the pieces into a structure that hangs...
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
Many economics departments make faculty working papers available on their websites. They can be particularly good sources for theoretical work in progress or for empirical work done by researchers not affiliated with the NBER. For links to economics departments around the world, see ideas.uqam.ca/EDIRC/index.html.
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Jun 29, 2024 · Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
- Jason Fernando
- 2 min
Apr 15, 2023 · Objectives of Financial Management. Financial management is generally concerned with the procurement, allocation, and control of financial resources of a concern. The objectives of the financial management are as follows: Profit Maximization; Wealth Maximization; Proper Estimation of Total Financial Requirements; Proper Mobilization
the behavior of economic agents runs the risk of producing unintended consequences or losing some of its effectiveness. This dissertation uses novel micro-level financial data to study how financial frictions matter for economic policy in three settings: financial regulation, corporate tax policy, and monetary policy.
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Apr 30, 2024 · Financial economics is a branch of economics that analyzes the use and distribution of resources in markets. Financial decisions must often take into account future events,...
