Business Coursework

Dec 27, 2008 Filed under:Samples — admin @ 8:12 am

Business Coursework

Business coursework should open with an attention getting introduction.  A good introduction for business coursework may include background information or a case study for example.  However, many teachers ask students to start business coursework with general information on the topic.  We have included a short sample business coursework to guide you through the process of essay writing:

Sample Business Coursework

Political business cycle theory alerts us to the possibility that a political money supply regime poses not only the danger of secular inflation but also the danger of destabilization of real output and employment in pursuit of reelection. Early versions of the theory developed scenarios in which a government artfully slides the economy along long-run and short-run Phillips curves in order to attain for a fleeting pre-election moment the combination of unemployment and inflation rates most favored by voters. These models assume that voters myopically focus on the recent macroeconomic past when choosing between incumbents and challengers, which may or may not be borne out empirically. But the assumption deserving the most serious scrutiny is that the incumbent government has sufficient control and knowledge to move the economy off the long-run Phillips curve in the desired direction in a timely manner.

The ability of government in principle to control the economy so as to stimulate output and reduce unemployment every four years has been cogently challenged by proponents of "rational expectations" macroeconomics. In the expectations-augmented account of the Phillips curve, the ability of government to manufacture a boom through expansionary monetary policy depends upon its ability to create surprisingly high inflation. Underanticipated inflation distorts the output and hiring decisions of firms and the job acceptance decisions of workers and so initiates a reduction of unemployment below the natural rate. High inflation that is fully expected has no such effect. If the federal government were to follow a policy of methodically increasing the inflation rate every fourth year, participants in output and labor markets would have to be somewhat dull witted not to catch on to that policy and to revise their inflationary expectations accordingly. Once they caught on, no systematic inflation surprises would occur, and no systematic increase in real output or reduction in unemployment would be produced by quadrennial jumps in the rates of monetary expansion and inflation. The government's policy strategy may, however, not be so methodical and transparent that market participants can see through it well enough to completely neutralize it. The strong form of the rational expectations policy ineffectiveness proposition relies inter alia on the assumption that economic agents form their expectations using "the relevant theory." This "relevant theory" has to include knowledge of the monetary authority's decision rule and its perception of its own constraints.

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