Do you know about - Fundamentals and Basic theory of Economics - Domestic and International coming
Recovery Resources Inc! Again, for I know. Ready to share new things that are useful. You and your friends.Wherever we go, economics is everywhere all over the world and it can be settled in all major continents around the globe. This begins in domestic up to global approach. In my own opinion, economics is a social science. There are any branches of economics to deal with and these are: Sociology that studies the society and culture, Physics that studies the beneficial in the yield of goods and services that produces machines and electricity,Political Science because it will study the economic policies of each leaders over the globe because it sway from the government of economic activities,History that studies the past, present, and time to come events of economic developments, Religion because it will based on the studies of religious traditions and beliefs that can encourage or discourage of economic development.
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Readers and Viewers must examine and know the content of economics. This article will be tackling underlying and basic ideas of economics. Fundamentals of economics is focus on banks or banking, business, business cycle, depression, economic freedom, income, inflation, investment, labor force, manufacturing, marketing, money, monopoly and competition, consumer price index, cost of living, physiocrats, price, production, profit, property or dealing with real estate business, recession, rent, accepted of living, furnish and demand, trust, unemployment, value added tax in which I believed that this term will be understand by the viewers. The meaning of economics is very simple. According to Fajardo, the author of his book titled "Economics" third edition, The meaning of economics is the social science that deals with proper budget and sufficient use of ready resources for the maximum pleasure of human needs and wants.
Here in economics, there is also an economic ideas and theories to be learned by the readers and viewers. They must know the facts of capitalism, communism, economic determinism, Facism, laissez faire theory, Theories of business cycle, Manioralism, Mercantilism, Socialism, and Syndicalism. They must take note that economic ideas is a set of an economic institutions that dominates a given economy. There is also a history in Economics from past to gift times, even in the future. According to Fusfeld, who has a knowledge of John Meynard Keynes or known as "Baron Keynes of Tilton" that has a famous books which is very beloved until now titled "Keynes normal ideas of Employment, Interest and Money" which was written in the year 1936 which ranks among the most foremost books on economics. Aside from this, among his other works are A Tract on Monetary Reform written in year 1923, The End of Laissez Faire ideas written in year 1926, and also A Treatise on Money written in year 1930. There are also time to come in economics and these are called "ethico-economics in which I will examine it on my next article and next is economic emergency that cannot predict when will it happen so it belongs to the future.
After mentioning the introductory part and historical background of Economics, this time I will march to domestic approach. The writer of this article will focus on the Philippine Financial ideas in order to share ideas, thoughts, and opinions from other nations. This article is a big help for those who will take Master's and Doctoral Degree in Economics. In Philippines, the most common financial institutions are based on banking, pawnshops, assurance companies,lending, financial or lending companies. The Banngko Sentral ng Pilipinas or known as Bsp (former Central Bank of the Philippines) is the central monetary authority and their purpose is to profess monetary stability, and to promote a equilibrium and sustainable economic growth.
The last part content will be international approach because it deals with global economy. In our planet Earth, seven continents around the globe gain to share in International Trade. To those who are curious in this part of my article, they can find or search it in tariff, trade, International Monetary Fund or known as Imf, Asian development Bank or known as Adb, Exports and Import, common Market, exchange Rate, World Bank.
To understand the meaning of international trade, According to James B. Calderwood, "International trade is the exchange of goods and services in the middle of countries and it is sometimes called "world trade" or "foreign trade". To explicate this meaning, it enables a nation to furnish the goods it can make the most cheaply and exchange them for goods it finds more costly to furnish from one country to another countries. That is how the international trade means to the economics. The good example that custom International Trade is Japan because they can compete with other countries.
The World Bank, International Monetary Fund, and Asian development Bank are the major lenders to our country. Their development funds have been focus on economic development such as agriculture.
After mentioning my content of economics from domestic up to global approach, they must take note that we are in the concerns of social responsibility this is not referring to the rich or poor people.
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