Friday, February 28, 2020

Economic development of the countries after SAP Essay

Economic development of the countries after SAP - Essay Example The paper describes economic reform in some countries. Oman, which is also an oil based economy, opened itself to world trade during 1970. Economic reforms implemented in Oman focused on increasing public spending by spending on health, education and welfare provision. Reforms based on development and modernizations were also implemented. These included developing the economy’s infrastructure by building roads, providing low cost housing and building hospitals. Though Oman’s main economic strength has been oil production, it started focusing on other things like tourism and development of natural gas reserves after the oil price slump adversely affected its economy. The general trends of the economic reforms implemented in Oman has been geared towards making the country better off in terms of economic and financial stability, increasing the skill level of their labor force and diversifying its income sources by investing in avenues other than oil production to decrease singular dependency on oil production. The UAE has gained a substantial amount of economic progress due to the economic reforms implemented in the country as part of SAP. However, economic trends in the UAE have been erratic to a large extent with regard to its economic cycles of booms and recessions, wealth, resource reserves, international relations and its struggle to meet challenges that came up over the years. Some particular struggles that the UAE faced have been to do with issues of governance, relating particularly to the adequate management of resources, socioeconomic stability etc., implementation of democracy, domestic and foreign business and overall economic stability and security. The UAE has been particularly interested in working to overcome these challenges by implementing economic policies and taking on measures of economic development. The economy has allowed for immense expenditure on developing its infrastructure, its real estate market and its leisure and tourism sectors. Kuwait is an economy that al so has oil reserves that it manages on its own. Oil production in Kuwait is expected to increase and the economy is, therefore, spending big money on upgrading and expanding its oil refineries. Kuwait also has a sophisticated financial market and a well developed banking system to its added advantage; thus, areas of development in Kuwait apart from the money spent to manage oil resources are centered around the financial industry, most particularly concerning the financial system itself, securities traded, stability of the market and introducing innovative measures to maintain a competitive edge over other financial markets. South Korea has not done as well as the other countries mentioned as a result of the implementation of SAPs. It made huge investments

Wednesday, February 12, 2020

Microeconomics Essay Example | Topics and Well Written Essays - 750 words - 10

Microeconomics - Essay Example Obviously, from the economic point of view, the higher the quantity and then the higher the price associated with each, the higher the revenue. This makes sense, because increasing the pricing for the linked quantity can remarkably improve revenue growth. On the other hand, this is not the usual case in the real world. There is also a case by which the revenue will fall, after increasing the price. If on the other hand, the students are not willing to pay for an increase tuition fee at NSU, they may also consider the possibility of going to an alternative University with at least lower or affordable tuition fees. This means that increasing the tuition at NSU will definitely decrease the number of enrolees in the semester. This leads to the possibility of lower revenue even if the tuition is set a bit higher this time. If the number of enrolees significantly dropped down until to the point that the revenue is highly affected, then increasing the tuition is not going to be a good idea. The revenue will remain the same, provided that there are students who still enrol at the NSU, and others considering the other universities. If at some point, the number of students who enrolled at NSU will be at least lower from the previous, but when the amount of tuition increase will still compensate the amount of revenue at the past, then this is the case that the NSU will most likely to have the same revenue, but then the number of students must have been significantly reduced at some point. If students are still enrolling at NSU despite higher tuition, the university must have significant assets that the students cannot just simply eliminate. The university might have sound and standard quality of education or excellent service performance that the students will now be hesitant to change their university. In other words, they cannot find substitute that might be as excellent as