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Articles 331 - 360 of 451
Full-Text Articles in Economics
United States Sugar Trade, Jeremy R. Meiners
United States Sugar Trade, Jeremy R. Meiners
University Avenue Undergraduate Journal of Economics
The best means to understand the effects of the tariff-rate quota system on production and consumption of sugar is by creating an economic model. By analyzing the most recent figures concerning consumption, importation, production, and tariff-rate quotas, an economic model of the sugar market of the United States can be produced. From this model, the effects of the removal of the tariff-rate quota system can be seen, as well as the effects on domestic consumers and producers. Through this model, an accurate picture of whom the tariff-rate quota affects and what these effects are is shown.
Pollution Abatement Costs: Hurting Or Helping Productivity?, Jacqueline M. Volkman
Pollution Abatement Costs: Hurting Or Helping Productivity?, Jacqueline M. Volkman
University Avenue Undergraduate Journal of Economics
This paper analyzes the effect that regulatory inputs or expenditures for labor, materials, and capital have on productivity for three industries (blast furnaces and steel mills, alkalies and chlorine, and petroleum refining). Data is examined from 1973 to 1994 and the growth rate of total factor productivity (TFP) is considered. The pattern of pollution abatement expenditures for three media, water, air, and solid wastes, is also examined graphically. In addition, the measurement for TFP is adjusted to net out regulatory inputs for labor, materials, and capital. A comparison between the original and adjusted measurement of TFP is made for each …
Market Concentration: The Effects Of Technology, David Janashvili '02
Market Concentration: The Effects Of Technology, David Janashvili '02
Honors Projects
Market concentration is often viewed as an important indicator of monopoly power, which makes it a key aspect for analyzing antitrust and other cases. A good understanding of what market concentration is and how it arises is crucial to policy decision making, especially in today's world where large corporations often tend to dominate the business scene. In this paper I investigate how factors accounting for technological change affect market concentration holding constant the effects of other recognized determinants of concentration.
The Effects Of Malpractice On Medical Specialties, Melinda Mannlein '02
The Effects Of Malpractice On Medical Specialties, Melinda Mannlein '02
Honors Projects
"Tort law refers to the set of legal rules and practices that govern wrongful injuries to persons or property" (Culyer & Newhouse, 2000). In today's world, individuals highly utilize the law as a resource for blame and compensation. One of the best demonstrations of this mentality is the reaction of some Americans to the terrorist attacks of September 11, 2001. For instance, in Florida, two men filed a $1.1 trillion lawsuit against Osama bin Laden, claiming that his terrorist acts threatened them with personal injury and forced them to re-fortify their bomb shelters. Additionally, they accuse bin Laden of causing …
Bubble Mania Or Not?, Justin Leverton '02
Bubble Mania Or Not?, Justin Leverton '02
Honors Projects
While many economists define a "bubble" as a deviation from stock market fundamentals, Charles Kindleberger defines a bubble as an upward price movement over an extended range that tends to implode (Kindleberger 1996). An extended negative bubble is a crash. The nature of these beasts makes them very important to the investor. Business schools teach students about the efficient market hypothesis and the economically rational individual. Bubbles make investing difficult because prices deviate from their fundamental valuations. If market fundamentals can not predict prices, the investor is forced to learn new ways of investing.
The Demand For Marijuana, Cocaine, And Heroin, Katherine Hampson '02
The Demand For Marijuana, Cocaine, And Heroin, Katherine Hampson '02
Honors Projects
In the last fifteen years, the "War on Drugs" has led to a large increase in the incarceration of individuals due to drug use. Drug-related convictions have increased at a faster rate than convictions for violent crimes (Reid, 2000). The severity of the epidemic is obvious in California where 75% of incarcerated individuals are there due to drug-related convictions. As the drug problem worsens, police find themselves shifting their focus away from violent and serious property crimes. In addition, the influx of drug-related convicts has caused the parole rate for other inmates to increase, sending violent criminals away from prison …
The Effects Of Family, Social And Background Factors On Children's Educational Attainment, Megan De Serf '02
The Effects Of Family, Social And Background Factors On Children's Educational Attainment, Megan De Serf '02
Honors Projects
In a perfect world, children of all races, socioeconomic backgrounds, and family types would not only have the opportunity to receive a higher education, but they would also take full advantage of these opportunities. The educational level of children in the ghettos of Chicago or St. Louis would be equal to their suburban counterparts. However, it is not a perfect world, and educational attainment of children and young adults from varying backgrounds differ greatly.
Czech Voucher Privatization: A Case Of Decision Making Under Uncertainty, Katia Hristova '02
Czech Voucher Privatization: A Case Of Decision Making Under Uncertainty, Katia Hristova '02
Honors Projects
Voucher privatization, a kind of large-scale privatization, was of special importance. It was conducted by the Czech Government in order to redistribute property among the population in a situation of complete lack of domestic private capital. All citizens over the age of 18 had the opportunity to obtain a voucher book. However, by providing little information about the process, the Government was really aiming only at the knowledgeable citizens who would be successful entrepreneurs. Voucher privatization was also thought of as a way to speed up the transition in the economy.
English Language Proficiency And The Earnings Of Mexican Immigrants, Jeremy Sanford '02
English Language Proficiency And The Earnings Of Mexican Immigrants, Jeremy Sanford '02
Honors Projects
Since 1965, the US has seen increasingly large numbers of immigrants crossing its borders. Indeed, more immigrants are arriving now than at any point in the past; the 1990's saw a higher number of immigrants enter the US than any previous decade (INS 1999). A disturbing corollary to the recent explosion in immigration is the corresponding decline of immigrant earnings relative to the earnings of natives. A cursory glance at the literature strongly suggests the changing national origin of immigrants as the main cause of this relative earnings decline. As a prime example, Mexican immigrants now outnumber any other national …
The Relationship Between Economic Freedom And Soci-Economic Development, Anisha Madan '02
The Relationship Between Economic Freedom And Soci-Economic Development, Anisha Madan '02
Honors Projects
The concept of economic freedom is not a novel one in economic theory. Since the time of Adam Smith, if not before, economists have believed that the freedom to choose and supply resources, compete in business, trade with others, and secure property rights are central ingredients of economic progress (North and Thomas, 1973). Adam Smith (1776-1937) explained how the invisible hand of the marketplace enhanced the wealth of nations. David Ricardo (1821-1912) advocated free trade as a means of producing economic growth. Milton Friedman said, "I believe that free societies have arisen and persisted only because economic freedom is so …
The Cellular Divide: A Comparative Analysis Of Mobile Phone Usage In Spain And The United States, Deborah J. Slezak '02
The Cellular Divide: A Comparative Analysis Of Mobile Phone Usage In Spain And The United States, Deborah J. Slezak '02
Honors Projects
The usage of mobile phones has dramatically increased in the past decade, narrowing the boundaries of size, space, and time. It is this "death of distance" that will be the single most important economic force shaping all of society over the next half century. The economic prosperity of the United States has contributed to the increase in this "luxury" telecommunication device, but how can the rapid increase in European countries with lower per capita incomes such as Spain be explained? The purpose of this paper is to examine mobile phone usage and penetration rates in the United States compared to …
Are Art Students Nicer Than Economics Students? A Discussion Of How Economic Game Theory Predicts That Art And Economics Students Differ In Terms Of Reciprocity, Abigail Claiborne
Are Art Students Nicer Than Economics Students? A Discussion Of How Economic Game Theory Predicts That Art And Economics Students Differ In Terms Of Reciprocity, Abigail Claiborne
University Avenue Undergraduate Journal of Economics
Neoclassical economic game theory predicts that a player’s goal is to maximize her income regardless of others. In playing the Ultimatum Game this means that Allocators will allocate the minimum amount and the Responders will accept that amount because something is better than nothing. Economics students behave differently because they self-select into that field already thinking as economists do and while studying economics they adapt their behaviors to economic theory. Therefore it is natural to assume that Economics students will act according to theory and that non-economics students will not. The Smith College study between Art students and Economics students …
The Economic Impact Of Native American Gaming: Cost-Benefit Analysis Of The Mashantucket Pequot Tribal Nation, Lisa Borromeo
The Economic Impact Of Native American Gaming: Cost-Benefit Analysis Of The Mashantucket Pequot Tribal Nation, Lisa Borromeo
University Avenue Undergraduate Journal of Economics
The purpose of this paper is to put the economic and social importance of Indian gambling on and off the reservation into perspective. Because the economic and social effects of Indian gaming are additive, one cannot form a coherent picture of the net impact of gaming without measuring both the economic and social effects (Cornell et al., 1998). Because gambling has impacts beyond reservation boundaries, studying the surrounding local economy is a necessary action. As both the number of tribes with gaming operations and the magnitude of the operations increase, so do their effects. This paper combines a general overview …
Prices, Legalisation And Marijuana Consumption, Mert Daryal
Prices, Legalisation And Marijuana Consumption, Mert Daryal
University Avenue Undergraduate Journal of Economics
The debate concerning the legalisation of marijuana is intensifying. As the price of marijuana would most likely decrease following legalisation, the law of demand implies that consumption would rise. But by how much? This paper analyses the effect of legalisation on consumption by using data from a specifically-conducted survey of first year students at The University of Western Australia. The results indicate that 53 percent of students have consumed marijuana with males exhibiting a higher intensity than females. The results also show that legalisation would cause consumption to increase by approximately 4 percent. Both legalisation and a 50 percent fall …
Investing In The Arts: Financial And Aesthetic Returns To Prints, Adam Finkelstein
Investing In The Arts: Financial And Aesthetic Returns To Prints, Adam Finkelstein
University Avenue Undergraduate Journal of Economics
This paper will revisit the economic question “is buying art profitable?” facing any potential investor by focusing specifically on the market for prints. The answer will account for both pecuniary and aesthetic benefits. Previous inquiry into the returns of investments in art and their methodologies is first reviewed. Then a framework for measuring utility from prints from market-observed leasing prices is described. Various price indexes for returns to Picasso and Chagall prints are compiled for the years 1977 to 1997 using a market basket technique. The indexes are then combined with the utility framework. Real and nominal returns to prints, …
Financial Intermediation And National Growth: Why India Needs To Further Develop Its Stock Markets, Deepika Gupta
Financial Intermediation And National Growth: Why India Needs To Further Develop Its Stock Markets, Deepika Gupta
University Avenue Undergraduate Journal of Economics
The aim of this paper is twofold: to show the positive growth effect on economies through steady stock market growth, and to analyze the performance of India’s stock markets over the last decade on national growth. I start out in Section I with economic analyses of the high correlation between stock market indicators and the development of all financial institutions. Studies conducted by other economists prove correlations between the stock market and other macroeconomic indicators such as liquidity, level of banking, volatility, consumption, income and stock prices. Section II is a detailed case analysis of the Bombay Stock Exchange (BSE) …
Cooperation Within Anarchy: A Case Study Of The Success Of Commercial Banking During The Lebanese Civil War, Mona Kalash
Cooperation Within Anarchy: A Case Study Of The Success Of Commercial Banking During The Lebanese Civil War, Mona Kalash
University Avenue Undergraduate Journal of Economics
This paper analyses the success of the Lebanese banking system during the Lebanese civil war, which lasted from 1975 until 1989. As the rest of the economy plunged into recession due to intense warfare and governmental collapse, the bankers and their clients continued to cooperate across battle lines in the loaning business. The argument of the paper is that the linkage of social and economic games and the importance of reputation in business created incentives for bankers and businessmen to cooperate in the Prisoner’s Dilemma game of lending and borrowing. I challenge the theoretical perspective that cooperation is not possible …
English Language Proficiency And Wage Rates Of Mexican Immigrants, Jeremy Sandford
English Language Proficiency And Wage Rates Of Mexican Immigrants, Jeremy Sandford
University Avenue Undergraduate Journal of Economics
This paper studies the effect of English language deficiency on the wage rates of Mexican immigrants. Using a sample of 81,059 labor market male Mexican Immigrants taken from Census PUMS data, I find that the direct effect of English language deficiency on earnings is virtually nonexistent for immigrants with low education and experience levels. The results show that only immigrants with at least a high school education or some US labor market experience will make less than their immigrant counterparts who speak English very well. The cost of language deficiency to those with some education or experience, however, is large. …
Discrimination Against Canadian Colours, Veevek Thankey
Discrimination Against Canadian Colours, Veevek Thankey
University Avenue Undergraduate Journal of Economics
Canada is a nation of immigrants. Decades of open and compassionate immigration policies have earned Canada a solid reputation abroad in this regard. However, as long as there has been immigration in this country, concerns have existed over the impact of immigration on the labour market and, more importantly, the role that discrimination plays regarding income differentials. This paper will analyze the earning differentials of immigrants, which shall be defined as ethnic minorities.
The World Grain Economy To 2050: A Dynamic General Equilibrium, Two Sector Approach To Long-Term World-Level Macroeconomic Forecasting, Benn Eifert, Carlos Galvez, Naureen Kabir, Avinash Kaza, Jack Moore, Christine Pham
The World Grain Economy To 2050: A Dynamic General Equilibrium, Two Sector Approach To Long-Term World-Level Macroeconomic Forecasting, Benn Eifert, Carlos Galvez, Naureen Kabir, Avinash Kaza, Jack Moore, Christine Pham
University Avenue Undergraduate Journal of Economics
Though fifty years is a tremendous time horizon for the forecasting of any trend involving the complex interactions of billions of people and billions of hectares of intricate planetary ecosystems, the analytic methodology of economics is the most capable toolbox available for such forecasting. At the center of such a forecast are two complex functions, supply and demand, coevolving over time and codetermining prices, production, investment, labor flows, export patterns, and most other major variables.
The Political Economy Of Wto Dispute Settlement: Toward A Synthesis Of International Regime Theories, Christopher L. Griffin
The Political Economy Of Wto Dispute Settlement: Toward A Synthesis Of International Regime Theories, Christopher L. Griffin
University Avenue Undergraduate Journal of Economics
This paper analyzes the explanatory power of mainstream international regime theories from the international political economy (IPE) literature—neoliberalism, realism, and cognitivism—through formal econometric techniques. I use a data set based on 162 dispute settlement cases since the inception of the World Trade Organization and find that the probability of a Dispute Settlement Panel (DSP) forming depends on the share of exports for a target country as a share of its total exports as well as relative gaps in military expenditures (as a share of GDP). These results are highly robust to different model specifications and control variable choice. Though the …
Intergenerational Problems Of Stability And Justice: Public Goods And Just Saving, Andrew Hayashi
Intergenerational Problems Of Stability And Justice: Public Goods And Just Saving, Andrew Hayashi
University Avenue Undergraduate Journal of Economics
Rawls notes that the question of justice between generations “subjects any ethical theory to severe if not impossible tests.” (A Theory of Justice (TOJ), p. 251) and the difference principle Rawls argues for in A Theory of Justice is inapplicable to the problem of justice between generations. Specifically, the fact that there “is no way for later generations to help the least fortunate earlier generation…[means that] the difference principle does not hold for the question for justice between generations.” (TOJ p.254) Curiously, despite Rawls’ warning, there is vein of literature that endeavors to show that the difference principle …
Macroeconomic Reform And Policy: The Case Of Peru - Analyzing The Effects Of Some Major Economic, Political And Social Changes In The Peruvian Financial Market For The Period Between 1990 And 1992, Marco A. Hernandez
University Avenue Undergraduate Journal of Economics
This paper discusses the effects of the changes in economic policies and important events, between 1990 and 1992, on the values of an economic sector's equity in Peru. I use event studies to explain the differences in returns during the event window in the main economic sectors in Peru including mining, beer, banking and industrial sector. Four key events are analyzed: The Fujishock, the announcement of policy changes and changes in the legal system, Fujimori's announcement of the dissolution of Congress and the suspension of the Constitution, and the capture of the chief of the Shining Path guerrillas, Guzman. …
Czech Voucher Privatization: A Case Of Decision Making Under Uncertainty, Katia Hristova
Czech Voucher Privatization: A Case Of Decision Making Under Uncertainty, Katia Hristova
University Avenue Undergraduate Journal of Economics
In my study, I plan to analyze voucher privatization in the Czech Republic. This process is best characterized as decision making under both risk and uncertainty, where the thousands of individuals who initially received vouchers were operating under near total uncertainty while larger institutional investors who later seized control of the vouchers were operating under conditions of risk. I will analyze the resulting patterns of ownership in comparison to the goals of the process. I will also discuss the role of the International Monetary Fund and World Bank as institutions which affect the conditions under which voucher privatization was conducted. …
The Relationship Between Economic Freedom And Socio - Economic Development, Anisha Madan
The Relationship Between Economic Freedom And Socio - Economic Development, Anisha Madan
University Avenue Undergraduate Journal of Economics
This research study assumes that people will be better off if there is greater equality of income, if per capita income increases, and if they have better access to education and health care through which they can lead a more fulfilling life. The World Health Organization defines health as a state of complete physical, mental, and social well being and not merely the absence of disease and infirmity. Education is a basic need because it improves skills, improves productivity, and lowers reproductivity by improving the status of women. Education also contributes to meeting other basic needs. If the behavioral changes …
The Cellular Divide: A Comparative Analysis Of Mobile Phone Usage In Spain And The United States, Deborah J. Slezak
The Cellular Divide: A Comparative Analysis Of Mobile Phone Usage In Spain And The United States, Deborah J. Slezak
University Avenue Undergraduate Journal of Economics
The usage of mobile phones has dramatically increased in the past decade, narrowing the boundaries of size, space, and time. It is this “death of distance” that will be the single most important economic force shaping all of society over the next half century. The economic prosperity of the United States has contributed to the increase in this “luxury” telecommunication device, but how can the rapid increase in European countries with lower per capita incomes such as Spain be explained? The purpose of this paper is to examine mobile phone usage and penetration rates in the United States compared to …
Neighborhood Effects And The Development Of Cognitive Ability: A Re-Examination Of The Bell Curve, Amber Munday '01
Neighborhood Effects And The Development Of Cognitive Ability: A Re-Examination Of The Bell Curve, Amber Munday '01
Honors Projects
"The average black and white differ in IQ at every level of socioeconomic status..." state Richard Herrnstein and Charles Murray in 1994's controversial book, The Bell Curve (269). Implicit in this statement is the idea that blacks are genetically less intelligent than whites, and it is because of this, that the gap in black and white median incomes persists. Herrnstein and Murray believe that the portion of IQ, as measured by the Armed Forces Qualification Test (AFQT), that is influenced by environmental factors is virtually irrelevant. This is due to the fact that less intelligent people live in less desirable …
Misery And Militarization: High Military Expenditure And Minimal Development In India, Michelle L. Stone '01
Misery And Militarization: High Military Expenditure And Minimal Development In India, Michelle L. Stone '01
Honors Projects
Considering its large and consistent allocations to defense over time, India has been noted to be a predominant military power in Asia. Concurrently, India can not claim to have reached notable levels of economic and social development. Minimal levels of development thwarts the ability of the population to attain basic needs such as food, health care, and education. Therefore, by examining economic and social variables over the 1974 to 1995 period within a recursive model, this paper determines that, in India, while economic development is not affected by military spending, social development is negatively affected by military spending. Moreover, the …
Development Of Human And Physical Capital And Change In The Structure Of Exports In Developing Countries: An Analytical Study, Pritam Banjeree '01
Development Of Human And Physical Capital And Change In The Structure Of Exports In Developing Countries: An Analytical Study, Pritam Banjeree '01
Honors Projects
The objective of this paper is to look at how development of physical and human capital affects the structure of exports from developing countries. As a country becomes increasingly developed, it moves away from production in primary goods to production of manufactures. This structural change will also be reflected in its exports. The more developed a country is in terms of human and physical capital the higher will be its manufacturing exports. This hypothesis is tested empirically. Factors like education, per capita income, infrastructure and capital investment are used to capture human and physical capital development, while the percentage of …
A Case Of The Phillips Curve In The Formation Of A Monetary Union, Yuet Wen Wan '01
A Case Of The Phillips Curve In The Formation Of A Monetary Union, Yuet Wen Wan '01
Honors Projects
The European Monetary Union was established in 1992 as part of an effort to bring economic integration to new levels by creating a common currency area for Europe -a monetary union that would abolish transaction costs of converting one European currency to another, and eliminating exchange rate variability and uncertainty among traders and investors. Since the formation of the European Monetary System in 1979, lowering inflation had become the main monetary policy priority. My research centers on the Phillips Curve, which implies that decreasing inflation rates would always be coupled with increasing unemployment rates. This study uses the trends of …