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Journal articles on the topic 'Economic aspects of Microeconomics'
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1
Postlewaite, Andrew. "American Economic Journal: Microeconomics." American Economic Review 99, no. 2 (April 1, 2009): 683–84. http://dx.doi.org/10.1257/aer.99.2.683.
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AEJ Micro publishes papers focusing on microeconomic theory, industrial organization, and the microeconomic aspects of international trade, political economy, and finance. The journal will publish theoretical work as well as both empirical and experimental work with a theoretical framework.
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RAKAUSKIENĖ, Ona Gražina, and Eglė KRINICKIENĖ. "A MODEL FOR ASSESSING THE GENDER ASPECT IN ECONOMIC POLICY." Business, Management and Education 13, no. 1 (June 29, 2015): 46–63. http://dx.doi.org/10.3846/bme.2015.269.
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The purpose of research is to develop a conceptual model for assessing the impact of the gender aspect on economic policy at macro– and microeconomic levels. The research methodology is based on analysing scientific approaches to the gender aspect in economics and gender–responsive budgeting as well as determining the impact of the gender aspect on GDP, foreign trade, the state budget and the labour market. First, the major findings encompass the main idea of a conceptual model proposing that a socio–economic picture of society can be accepted as completed only when, alongside public and private sectors, includes the care/reproductive sector that is dominated by women and creating added value in the form of educated human resources; second, macroeconomics is not neutral in terms of gender equality. Gender asymmetry is manifested not only at the level of microeconomics (labour market and business) but also at the level of macroeconomics (GDP, the state budget and foreign trade), which has a negative impact on economic growth and state budget revenues. In this regard, economic decisions, according to the principles of gender equality and in order to achieve gender equality in economics, must be made, as the gender aspect has to be also implemented at the macroeconomic level.
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Gimaletdinova, E. R., and G. G. Sunaevа. "THE USE OF ARTISTIC MEANS IN TEACHING ECONOMIC THEORY (SECTION «MICROECONOMICS»)." Bulletin USPTU Science education economy Series economy 2, no. 32 (2020): 144–50. http://dx.doi.org/10.17122/2541-8904-2020-2-32-144-150.
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The article examines the application of the principle of visibility in pedagogy, on the example of teaching the section "microeconomics" of the course "Economic theory". Artistic tools and techniques allow you to analyze economic aspects, processes, phenomena, and contexts in the course taught through artistic literary works and films, paintings, theater productions, etc. Using the principle of clarity in this case allows students to facilitate the process of perception and assimilation of theoretical material, makes it possible to emotionally influence the student; enriched sensory perception of students, develops their imagination, learning becomes more intelligible, interesting, encouraged active learning process, improves efficiency of mastering of educational material, expanded memory capabilities, increased access to study material and enhanced the strength of its absorption, it should also take into account the educational value and aesthetic value of the material used. Artistic means should correspond to the level of development of students, the course being studied, and reflect the economic reality. When using works of art in teaching, the following should be taken into account: it is necessary to refer to those works that are known to the majority of the audience, the lecturer should know the work referred to well, the passage used should be quite brief, but deep in content and artistic in form, highlight important aspects that are worth paying attention to when watching a movie, reading a book, or analyzing a picture. When teaching the course "Economic theory", the section "microeconomics", using the principle of clarity of didactics, it is recommended to use selected on the relevant topics, questions and subqueries artistic literary masterpieces of domestic and foreign authors, paintings of Soviet, Russian, world cinema, works of art painting both domestic and foreign: in the topic "Fundamentals of market economy", questions "economic needs and economic resources", " economic systems»; the topic "Theory of the firm", the question "the essence, goals, conditions of functioning of the firm"; the topic "Perfect and imperfect competition", the question "the Main characteristics of monopoly"; the topic " factor Markets and income distribution. Social policy", questions "inequality of income distribution in a market economy", "social policy".
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Gimaletdinova, E. R., and G. G. Sunaevа. "THE USE OF ARTISTIC MEANS IN TEACHING ECONOMIC THEORY (SECTION «MICROECONOMICS»)." Bulletin USPTU Science education economy Series economy 2, no. 32 (2020): 144–50. http://dx.doi.org/10.17122/2541-8904-2020-2-32-144-150.
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The article examines the application of the principle of visibility in pedagogy, on the example of teaching the section "microeconomics" of the course "Economic theory". Artistic tools and techniques allow you to analyze economic aspects, processes, phenomena, and contexts in the course taught through artistic literary works and films, paintings, theater productions, etc. Using the principle of clarity in this case allows students to facilitate the process of perception and assimilation of theoretical material, makes it possible to emotionally influence the student; enriched sensory perception of students, develops their imagination, learning becomes more intelligible, interesting, encouraged active learning process, improves efficiency of mastering of educational material, expanded memory capabilities, increased access to study material and enhanced the strength of its absorption, it should also take into account the educational value and aesthetic value of the material used. Artistic means should correspond to the level of development of students, the course being studied, and reflect the economic reality. When using works of art in teaching, the following should be taken into account: it is necessary to refer to those works that are known to the majority of the audience, the lecturer should know the work referred to well, the passage used should be quite brief, but deep in content and artistic in form, highlight important aspects that are worth paying attention to when watching a movie, reading a book, or analyzing a picture. When teaching the course "Economic theory", the section "microeconomics", using the principle of clarity of didactics, it is recommended to use selected on the relevant topics, questions and subqueries artistic literary masterpieces of domestic and foreign authors, paintings of Soviet, Russian, world cinema, works of art painting both domestic and foreign: in the topic "Fundamentals of market economy", questions "economic needs and economic resources", " economic systems»; the topic "Theory of the firm", the question "the essence, goals, conditions of functioning of the firm"; the topic "Perfect and imperfect competition", the question "the Main characteristics of monopoly"; the topic " factor Markets and income distribution. Social policy", questions "inequality of income distribution in a market economy", "social policy".
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Wójcicki, Włodzimierz. "Protoeconomics - Elements of Economics in Antiquity." Economic and Regional Studies / Studia Ekonomiczne i Regionalne 11, no. 4 (December 1, 2018): 147–59. http://dx.doi.org/10.2478/ers-2018-0043.
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Summary Subject and purpose of work: The work presents the emergence and shaping of basic economic issues since the dawn of human economic activity. Contemporary views on important economic issues have their roots in antiquity. The shaping of concepts such as money, interest, contract, credit as a part of the law, began a long time ago and exerted an influence on the way they are understood today. Materials and methods: The basis for the considerations is the study of literature on the history of the development of economics and the science of management in economic, philosophical and ethical aspects. The work has shown the non-linear nature of the development of new phenomena emerging in volatile political, technical, religious and moral conditions, which are largely spontaneous, and a reciprocal overlap of various fields of knowledge in a general and individual sense. Particular discoverers were found to present a wide spectrum of interests. Results: Historically, the development of economic knowledge began with the issues from the border of economics and management, from microeconomics (household) to macroeconomics (money); little information concerns large undertakings such as irrigation systems, pyramids or waging wars. Conclusions: Generally speaking - monarchs’ edicts came before the deliberations of thinkers, concrete reasoning came before abstract considerations.
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Severová, L., J. Chromý, B. Sekerka, and A. Soukup. "Microeconomic aspects of government subsidies in the agricultural market." Agricultural Economics (Zemědělská ekonomika) 58, No. 11 (November 26, 2012): 542–48. http://dx.doi.org/10.17221/212/2011-agricecon.
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It is known from the Czech practice that a very actual problem of economic policy is created by the subsidies on the prices of agricultural products. A price subsidy of agricultural product causes the price to be kept above its equilibrium level. We will use the microeconomic knowledge about the behaviour of average and marginal costs curves in the short-run and long-run. We assume two agricultural firms in a perfect competition market. The agricultural large-scale company reaches a normal profit, but the small family firm has higher costs, therefore it runs at a loss. Using the subsidy can ensure that the prices of agricultural products are set at a level, at which the farmers have appropriate incomes. However, a loss of efficiency can occur because of the subsidy as the surplus, which is purchased by the government, and actually stays unused.
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Csatári, Gábor Bence. "Economic aspects of innovation in sheep breeding." Acta Agraria Debreceniensis, no. 31 (November 24, 2008): 33–36. http://dx.doi.org/10.34101/actaagrar/31/3002.
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Innovation, as a factor influencing the success of farming, is of outstanding importance also in agriculture. Only those businesses (enterprises, companies) can be successful in the longrun which are able to adapt the new technological elements and to make their own developments occasionally and make them suitable for practical utilization.The innovation activities performed by the enterprises, business organizations can be evaluated at firm (microeconomic) and national economy (macroeconomic) levels. In the case of sheep breeding also, a complex evaluation system should be applied, since this is a sector, which has significant rural development and social impacts. The innovation processes are analysed from the identification of the problem inducing research and development until the return of the invested resources.
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Allen, Beth. "The Future of Microeconomic Theory." Journal of Economic Perspectives 14, no. 1 (February 1, 2000): 143–50. http://dx.doi.org/10.1257/jep.14.1.143.
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The question of what constitutes good economic theory is analyzed. Current good and bad aspects of its methodologies are discussed. Interdisciplinary work that goes beyond the social sciences is advocated. The future predictions are presented concerning research in game theory and the economics of information. Finally, the importance of technology and the need for microeconomists to understand it better are argued.
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Kitanov, Vladimir. "TOURISM AS A COMPOSITION OF ECONOMIC SCIENCES AND THE ECONOMIC PROCESS." Knowledge International Journal 28, no. 1 (December 10, 2018): 371–74. http://dx.doi.org/10.35120/kij2801371k.
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The tourism economy can be defined as part of the economic sciences that describes, analyzes, explains and brings together the phenomena and relations in tourism in terms of their economic performance and result / reflection. Given that it can significantly affect socio-economic relations and given the necessary systemic solutions within the national economies, the relevant economic policies of the country and the international community, tourism has all the properties / features to be subject to macroeconomic analysis. On the other hand, the multitude of economic organisms operating in the tourism industry justify many microeconomic studies. But apart from the interests that tourism thrives in the framework of aggregate economics and economics of enterprises, it justifiably requires specific study as a "boundary area" that is somewhat analogous to the frontier or district economics of some other activities. Moreover, seen as a commercial phenomenon, tourism can and must, above all, be described and analyzed analytically, be explained and understood as such an area of economic sciences, because in such an area, purified terms allow for a clearer understanding of its macroeconomic and microeconomic aspects. However, there is also the biggest problem in determining the place of tourism as the subject of economic sciences.
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Hausman, Daniel M. "Economic Methodology in a Nutshell." Journal of Economic Perspectives 3, no. 2 (May 1, 1989): 115–27. http://dx.doi.org/10.1257/jep.3.2.115.
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This essay is a tendentious survey of standard methodological literature, focusing on the empirical appraisal of theory, microeconomic theory in particular. I shall in particular discuss four approaches to praising or damning microeconomic theory that have dominated methodological discussions. They might be called the deductivist, the positivist or Popperian, the predictionist, and the eclectic. Or to assign representative or striking figures to positions, these are John Stuart Mill's, Mark Blaug's, Milton Friedman's, and Donald McCloskey's views. I shall sketch and assess each position and defend aspects of the deductivist and eclectic views. Along the way I shall have something to say not only about how to do economics, but also about how to philosophize about economic methodology.
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Chirita, Anca D. "The Impact of the European Union Current Crisis on Law, Policy and Society." Cambridge Yearbook of European Legal Studies 16 (2014): 255–88. http://dx.doi.org/10.1017/s1528887000002615.
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AbstractThis chapter aims to understand the general nature of the current economic crisis from a socio-legal, economic, ideological and political perspective and to analyse the complexity of the multiple causes which have led to this crisis. The impact of the crisis on different areas of law is also considered, especially on banking, securities, contract, competition and corporate law. Furthermore, the article aims to criticise law in action and the management of the crisis through political decision-making (state intrusiveness), that is, the various responses and reactions to the crisis and the effectiveness of the measures implemented by policy-makers and enforcers. In particular, this article questions the constitutional legitimacy of the TBTF (Too-Big-to-Fail) theory as a predominant doctrine and criterion of state intervention in the economy. The chapter carries out a multi-layered analysis that covers aspects of economic, social, and political governance. It also draws insights from microeconomics—looking at how economic agents have affected individuals such as consumers—and from macroeconomics—looking at how state intervention in the economy has impacted upon taxpayers and considering the economic and social costs of the crisis. Finally, it approaches the crisis from the perspective of political economy by looking through the lenses of ideology and policy and by reflecting on the role of neoliberalism today.
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TUR, Iryna. "Theoretical aspects of the social protection of the state." Economics. Finances. Law, no. 2 (February 21, 2020): 33–36. http://dx.doi.org/10.37634/efp.2020.2.7.
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Introduction. In the economy, the social protection system is regarded as an important part of the social policy of the state, but there are some differences between the definitions of the concept of "social protection" and "social security". The article analyzes the modern definitions of social protection, on various grounds, outlines their features. According to the results of the research, the necessity to consider social protection as part of the social policy of the state from the point of view of macro- and microeconomics was proved. Generalization and systematization of theoretical bases on these issues is of practical value and will help to outline the main ways to improve and form an effective system of social protection of the state. The purpose of the paper is to substantiate the theoretical aspects of social protection of the state. Results. The article is devoted of the theoretical aspects of the concept of control over the financial and economic activities of an enterprise. Based on the systematization of the views of most authors, it was found that today there is no universally accepted definition of the concept of control over the financial and economic activities of an enterprise. Most researchers consider the concept of control based on different key features. As a result of a critical analysis of modern researches, the authors identified a set of advantages and disadvantages in the reviewed concepts of control over the financial and economic activities of an enterprise. According to the results of the study, it is determined the need for considering control over the financial and economic activities of an enterprise as a special scientific concept according to the research method of its specific subject. Conclusion. The main parameters of social policy implementation in society are determined by many objective factors: the level of development of productive forces, the structure of the economy, the state of social life, the nature of political power, the spiritual and moral maturity of the population of the country, etc. The maturity of the subjective factor - the ability and willingness of the administrative structures and other entities to ensure the social orientation of the economy, decent working conditions and life of citizens; civilized nature of social relations. Social protection is directly associated with social policy, with the activities of the state and non-state actors aimed at combating social risks and their various manifestations, through the possible prevention of socially adverse events or compensation for their consequences. The market economy is traditionally considered in the coordinates of profit and consumption, and the person in it is human capital, but, and social protection and social security that help the person for the purpose, must be viewed from the point of post-classical studies, where the person is his core, and at the same time and the purpose of development.
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Maresova, Petra, Ivan Soukal, Libuse Svobodova, Martina Hedvicakova, Ehsan Javanmardi, Ali Selamat, and Ondrej Krejcar. "Consequences of Industry 4.0 in Business and Economics." Economies 6, no. 3 (August 9, 2018): 46. http://dx.doi.org/10.3390/economies6030046.
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The introduction of information technology into all aspects of our lives has brought forth qualitative and quantitative changes on such a large scale that this process has come to be known as the Fourth Industrial Revolution, or Industry 4.0. The aim of this paper is to fill in the gaps and provide an overview of studies dealing with Industry 4.0 from the business and economic perspectives. A scoping review is performed regarding business, microeconomic and macroeconomic economic problems. Four investigators performed a literature search of the Web of Science, Scopus, and Science Direct. The selected period spanned from 2014 to 2018, and the following keywords were used for the search: Industry 4.0, economics, economic development, production economics, and financial sector. A total of 2275 results were returned. In all, 67 full papers were screened. Results obtained from the relevant studies were, furthermore, divided into the following categories: work and skills development; economy growth and macroeconomic aspect; sustainability; intelligent manufacturing; policy; and change in business processes. Findings show that the aspects of work and skills development, smart technology adoption, intelligent manufacturing, and digitalization are very well described. The government and its policies usually play the role of a needed supportive element. Usually studies lack a coherent view of the topic in question and solve partial questions.
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Abdollahi, Hooman, and Seyed Babak Ebrahimi. "Modeling and Investigating the Economy and Production Structure of Iran Public Theater." International Journal of System Dynamics Applications 8, no. 1 (January 2019): 60–78. http://dx.doi.org/10.4018/ijsda.2019010104.
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Cultural productions are considered as a sign of civilization in modern societies. Theater is known as an important type of cultural productions, playing important role in the cultural economy of a society. Due to complexities of socio-economic interactions, this sector needs dynamic investigation to illuminate different aspects of possible potentials and threats. The present paper tries to find relationships between Iran public theater economy and production structure based on a dynamic model including all economic stages, namely production, distribution, and consumption to achieve a solid perception of Iran theater position. The authors use System Dynamics to create a model that can explain or mimic the behavior of the system in order to evaluate policies. Since Tehran City Theater complex is the sole place for the public theater in Iran, the authors assess it over the period 2012-2015 and predict its behavior to 2022. On the other hand, the investigation in this context is being directed in accordance with microeconomics principles. The results indicate that the position of Iran public theater is undesired due to vague managerial policy. Also, the findings offer insights into the problems and suggest practical solutions.
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Mirdala, Rajmund. "Macroeconomic aspects of financial liberalization." Panoeconomicus 53, no. 4 (2006): 439–56. http://dx.doi.org/10.2298/pan0604439m.
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The positive and the negative macroeconomic aspects of the financial liberalization for the developing and emerging economies are well described in the present literature. But it is not easy to clearly summarize the final effects of the financial integration on the certain country. For instance the argument about the growth benefits of the capital account liberalization is likely to be inadequate considering the financial crises in the emerging markets at the end of the last century. On the other hand, many authors (especially in the financial literature) report that the equity market liberalizations help to significantly boost the economic growth. There are also some examples on the microeconomic level (firm level or industry level) when the international financial integration brings certain benefits to the integrated enterprises and the capital flows restriction leads to the distortionary effects. In the paper we analyze the macroeconomic effects of the capital flows liberalization.
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Huk, Katarzyna, and Mateusz Kurowski. "The Environmental Aspect in the Concept of Corporate Social Responsibility in the Energy Industry and Sustainable Development of the Economy." Energies 14, no. 18 (September 21, 2021): 5993. http://dx.doi.org/10.3390/en14185993.
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Sustainable development is now an important direction for the further development of all economies in the world. It is important to balance economic development with the impact on the environment and our planet. Another direction in the development of management sciences is the emergence of the concept of Corporate Social Responsibility, which considers this impact in three key aspects—economic, environmental and social—in terms of microeconomics. This concept gives companies specific guidelines and tools that minimize their negative impact on the environment. Reducing the negative impact of companies influences the environment and this is what is mainly associated with them. However, companies should also pay attention to internal consistency and caring for employees. Company practices such as the exploitation of people, including children, and injustice in the workplace are some of the factors that can be observed in less developed countries. The article focuses on the presentation of the environmental aspect in the context of the concept of corporate social responsibility. We analyzed individual sectors of the economy in terms of the environmental aspect, with particular emphasis on the energy industry. The study is based on a statistical analysis taking into account data from 1718 companies from all over the world. The aim of the article is to present the environmental aspect in the context of corporate social responsibility in the energy industry as a direction for sustainable development of the economy. The article is based on the analysis of the literature and databases presenting CSR, which was created on the basis of questionnaire research. The article shows which regions of the world are worse and which are better in terms of the environmental aspects of CSR. Conclusions on the main CSR guidelines for the environment are also presented. We analyzed factors such as environmental routines, policies and targets, implementation of environmental management systems, ISO 14001/EMAS certification, environmental reporting, environmental requirements inside the supply chain, the trend of GHG emissions and the trend of energy consumption for their environmental impact. The analysis was carried out on the basis of given regions of the world and individual sectors of the economy, especially the energy industry.
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Pratomo, Kendro, and Trisna Taufik. "Mekanisme Pasar dan Penetapan Harga dalam Perekonomian Islam (Studi Analisis Pemikiran Ibn Taimiyah)." Jurnal Ilmiah Ekonomi Islam 4, no. 03 (November 30, 2018): 213. http://dx.doi.org/10.29040/jiei.v4i03.331.
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In the 13th century AD Islamic thinkers emerged in many fields of scientific discipline. Among them appeared Ibn Taimiyah who is an Islamic figure who developed many disciplines in certain fields, each in the field of economics. In his mind many things are related to microeconomics and macroeconomics and the problems that occur at that time. And he founded in terms of social and fiqh (Islamic) aspects. Ibn Taimiyah did a lot of discussions about care and regulating prices by the government at that time. He also stated that in strong conditions between demand and supply. He also realizes that if the preparation of goods will diminish, it will increasingly affect the price of the item. Therefore, it is very important to see the relationship between price and supply.
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Bratka, Valda, and Artūrs Prauliņš. "MICROECONOMIC ASPECT OF COMPARATIVE ANALYSIS OF SUPPORT GRANTED TO LATVIAN FARMS." Latgale National Economy Research 1, no. 2 (June 30, 2010): 30. http://dx.doi.org/10.17770/lner2010vol1.2.1771.
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In the paper the comparative analysis of national and EU support granted to Latvian farms grouped by type of farming and economic size is performed. The fluctuations of support specific weight in farm revenues and subsidies per 1 agricultural work unit and per 1 European size unit using individual index method are explored. The authors come to the conclusions about various dependence levels of Latvian farms differentiated by economic size and type of farming on the support received by agricultural sector. It is stressed that a chronological factor and an economic size of agricultural holding have a significant impact on the diversity of subsidy level. As previously conducted analysis focused on macroeconomic aspects of subsidization in Latvia, the results of the current research have an element of novelty.
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Hanin, Viktor, and Svitlana Borokh. "STRATEGIC ASPECTS OF THE MANAGEMENT OF FOREIGN AND ECONOMIC ACTIVITY OF THE ENTERPRISE." Economic Analysis, no. 28(3) (2018): 162–69. http://dx.doi.org/10.35774/econa2018.03.162.
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Introduction. The role and importance of foreign economic activity on both the macro and microeconomic levels is increasing in the conditions of globalization of the world economy and international economic relations. The problem of creation of an effective system of management of foreign economic activity in the enterprise becomes especially actual nowadays. Purpose. The article aims to study the theoretical aspects of effective directions of enterprise functioning on the foreign markets. These aspects should be based on the development and implementation of the foreign economic activity strategy. It will allow the company to survive in the long-term competition. Results. The article deals with the basic concepts of foreign economic activity management, the essence and process of its organization in the enterprise. The essence of the foreign economic activity strategy in the economic sphere of activity has been considered. The necessity of its development at the enterprises has been proved. It has been concluded that the success of the enterprise increasingly depends on the rationally organized foreign economic activity vector. Therefore, today an extremely important role belongs to the improvement of the organizational structure of enterprise activity management in order to increase the efficiency of the economic entity in the foreign market and the ability to react quickly and adapt to changes in the external environment. The practical significance of conclusions of the research is that they can be used in making managerial decisions and developing measures to improve the efficiency of foreign economic activity in the enterprise.
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Hurbean, Ada. "SOME ASPECTS REGARDING THE EUROPEAN SOCIAL DIALOGUE." Agora International Journal of Juridical Sciences 10, no. 2 (January 30, 2017): 26–33. http://dx.doi.org/10.15837/aijjs.v10i2.2838.
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The concept of social dialogue is approached differently at international level. According to the definition proposed by the International Labour Organisation, the social dialogue represents the voluntary information, consultation and negotiation act issued in order to negotiate agreements between the social partners or to negotiate collective agreements. As a concept adopted at EU level, the social dialogue, established by the Treaty of Rome in 1957, is a process of continuous information and consultation between unions and employers, so as to reach understandings regarding the control of certain economic and social variables, both in macroeconomic and microeconomic level. No matter how this concept is understanding, the social dialogue is associated with the transition from a culture of conflict to a culture of partnership with consideration of the common interests of the social partners involved in a broader process of “social cooperation”.
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Allen, Patricia, Debra Van Dusen, Jackelyn Lundy, and Stephen Gliessman. "Integrating social, environmental, and economic issues in sustainable agriculture." American Journal of Alternative Agriculture 6, no. 1 (March 1991): 34–39. http://dx.doi.org/10.1017/s0889189300003787.
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AbstractIn the past several years, researchers, educators, policymakers, and activists have initiated sustainable agriculture programs and efforts the world over. This development has sometimes been accompanied by a sense that it is time to stop discussing sustainability at a conceptual level and get on with the work of making agriculture sustainable. Our perspective is that it is critical to pursue a comprehensive definition of sustainability in order to set sustainable agriculture priorities and ensure that sustainable agriculture takes a path that does not reproduce problems of conventional agriculture. In this paper we briefly review some popular definitions of sustainable agriculture and find that their focus is primarily on farm-level resource conservation and profitability as the main components of sustainability. Others have challenged this approach for either not examining the social aspects of sustainability or for containing an implicit assumption that working on the environmental, production, and microeconomic aspects of sustainability will automatically take care of its social aspects. We propose an expanded conceptualization of sustainability—one that focuses on the entire food and agriculture system at a global level and includes not only environmental soundness and economic viability, but social equity as well. In this perspective, issues such as poverty and hunger are as central to achieving agricultural sustainability as those of soil erosion and adequate farm returns.
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Pražák, Tomáš. "The Effect of Economic Factors on Performance of the Stock Market in the Czech Republic." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 66, no. 6 (2018): 1613–26. http://dx.doi.org/10.11118/actaun201866061613.
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History has shown that the stock prices and other financial assets are important aspects of the dynamics of economic activity. Stock prices can be an indicator of social mood and are used as a leading factor in the economic activity and financial stability. This paper investigates the relationship between selected macroeconomic and microeconomic factors and stock prices of companies listed on the Prague Stock Exchange. The portfolio theory and Capital Asset Pricing Model for specification of stock market are used. Johansen and Juselius (1990) and Hansen (1982) approaches are applied to test for causal relationship. In addition, the Vector error correction model for equilibration of a potential long‑run relationship between variables is used. Selected macroeconomic and microeconomic factors provide a statistically significant relationship on stock prices during the observed period from 2006 to 2016. However, the results differ substantially among the sectors of economic activity, the industrial production, the gros domestic product and profitability ratios in particular, can explain a long‑run behavior of stock prices.
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Monferrer-Tirado, Diego, Marta Estrada-Guillén, Juan Carlos Fandos-Roig, Miguel Ángel Moliner-Tena, and Javier Sánchez García. "Service quality in bank during an economic crisis." International Journal of Bank Marketing 34, no. 2 (April 4, 2016): 235–59. http://dx.doi.org/10.1108/ijbm-01-2015-0013.
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Purpose – The purpose of this paper is to address the aftermath of the crisis that has plagued the Spanish financial sector from a microeconomic and emotional perspective associated to financial entities’ relationships with their customers. Design/methodology/approach – The authors build a model of effects with structural equation modelling based on the quality of the relationship between financial entities and their customers. The authors identify the different dimensions of quality in the entity’s service provision (tangible quality, functional quality and staff quality) as essential antecedents of the different dimensions of relationship quality (satisfaction, trust and loyalty). Moreover, the authors develop a multi-group analysis to test the moderator effect of age in the proposed model. Findings – The work shows that bank customers have been eminently results driven focusing on functional quality which is a determinant cause of customer satisfaction and trust. Research limitations/implications – Furthermore the authors consider that the dimensions of service quality are interrelated. Functional quality represents an essential quality in customer service, whereas tangible and personnel qualities act to reinforce functional quality. In turn, qualities based on tangible aspects have positive effects on qualities based on intangible aspects. Practical implications – Moreover, the results confirm the consideration of related variables to conform the construct of relationship quality: satisfaction, trust and loyalty. Finally, age has been found to have a considerable effect as a moderating variable in the relations. Originality/value – These results represent a significant change in traditional patterns of bank customer behaviour, and fit in with postulates of a new approach based on individual differences in attitudes, with relevant practical implications.
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Alfaro, J., V. Lopez, and D. Nevado. "The relationships between economic growth and intellectual capital: A study in the European Union." Acta Oeconomica 61, no. 3 (September 1, 2011): 293–312. http://dx.doi.org/10.1556/aoecon.61.2011.3.3.
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We are immersed in a knowledge society that calls for indicators to go beyond economic factors to measure the development of a country. In this paper we use an adapted microeconomic model that determines the value of a country’s intellectual capital. For this, we consider intangibles such as human development, economic structure, international trade, foreign image and innovation. This measurement of intellectual capital is divided into human and structural capital and is used to analyse the relationship between these capitals and the economic development of the 27 countries in the European Union (EU27). The results show that when we consider aspects other than economic variables, the differences between countries are larger. Moreover, there is an inverse relationship between the management of intangibles and economic growth, which is why the former progresses after the latter have occurred.
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Efimova, Olga, Elena Makeeva, and Elizaveta Dmitrieva. "APPROACHES TO THE FORMATION OF SUSTAINABLE ECONOMIC DEVELOPMENT OF TRANSPORT SYSTEM." Proceedings of CBU in Economics and Business 1 (November 16, 2020): 45–48. http://dx.doi.org/10.12955/peb.v1.17.
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The world economy as an integrated system has limited growth limits, natural resources are limited, so a new concept of sustainable economic development has emerged, based on a balance of the economy, social goals and ecology. Sustainable development is the development of the country's economy and the global system in which current needs are met without compromising future opportunities. The rapid development of transport infrastructure creates the prerequisites for the sustainable development of centers of macro and microeconomic growth and helps to reveal their potential in the future.
The article considers the role of transport as an additional priority for sustainable development at the macro level and the types / functions of connectivity of economic growth centers in the sectoral and regional aspects.
In turn, the concept of sustainable development of the transport system involves taking into account the features of the transport system as an object of increased danger and a high degree of influence on the main priorities of sustainable development (economic growth, social system and ecology) of the macroeconomics. It was noted that, on the one hand, the transport system, being part of the country's macroeconomic system, affects the priorities of its sustainable development, and on the other hand, has independent priorities for sustainable development in the field of economic growth and efficiency, social potential and environmental aspects, including issues of ensuring security.
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Pickhardt, Michael. "Fifty Years after Samuelson's “The Pure Theory of Public Expenditure”: What are we Left With?" Journal of the History of Economic Thought 28, no. 4 (December 2006): 439–60. http://dx.doi.org/10.1017/s105383720000941x.
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In 1954, Paul A. Samuelson presented on just two and a half pages what he claimed to be “a pure theory of government expenditure on collective consumption goods” (1954c, p. 388). Just a year later, he supplemented this theory by an equivalent diagrammatic formulation and a few clarifying comments (Samuelson 1955). Although his initial paper was strongly criticized on various grounds, an industry was launched and public goods—or, as referred to initially by Samuelson, collective consumption goods—now play a crucial role in a number of theories like fiscal competition or endogenous growth, and in almost all textbooks on public economics or microeconomics at least a paragraph is devoted to public goods. In fact, Samuelson's 1954 paper is conventionally considered the foundation of the modern theory of public goods (for example, see Richard A. Musgrave 1983a, p. 141). However, the many contributions to the modern theory of public goods, including Samuelson's subsequent writings, have revealed that there is widespread disagreement both on fundamental aspects of the theory as well as on its significance for the determination of government expenditure.
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Ryazanova, G. N., and P. S. Tolkachev. "Structural levels of the national economic system: management aspect." Upravlenie 7, no. 4 (January 27, 2020): 84–89. http://dx.doi.org/10.26425/2309-3633-2019-4-84-89.
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The organizational structure of the national economy, its internal levels (macro, meso and micro) has been analyzed in the article. The problems of the content of the concept of “economy”, segmented it into material and social components, have been identified. Attention has been focused on the negative aspects of the globalization of the world economy, based on the main provisions of the neoclassical paradigm. It has been noted, that to ensure the socio-economic integrity of the national economy, it is necessary to transform the generic state of society into a centrally-organized.According to the authors, to implement the transformation of the socio-economic space into an integrated socioeconomic system, it is necessary to coordinate three hierarchically subordinate levels: macro, meso, and microeconomic agents. The macroeconomic agent forms subject relations between all hierarchical levels, which require a high level of government: it cannot be a command economy, since this strategy of economic development paralyzes competition and free enterprise, but there can be no purely market economy, because the “invisible hand of the market” unable to ensure sustainable harmonious development of the economy without government intervention.It has been concluded about the need for an integrated nature of management of the Russian economy and the tasks for improving the system of management of the Russian economy have been determined. It is emphasized, that at the present stage, the greatest attention should be paid to the issues of improving the management of the mesostructure of the Russian economy – the development of industries and regions, since at the moment this level of the economy is paid fragmentary attention. The analysis has been carried out using general scientific methods: the method of abstraction, historical research methods; formalization method, reconstruction method; based on a systematic approach using the method of forecasting.
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Bidzhoyan, Davit S. "Stress Testing as a Banking Risk Assessment Tool: A Review of International Practice, Methods and Methodology." Economics of Contemporary Russia, no. 4 (December 31, 2020): 99–117. http://dx.doi.org/10.33293/1609-1442-2020-4(91)-99-117.
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Stress testing is a broad research area, at the interference of many disciplines (finance, banking, econometrics, macroeconomics, microeconomics, mathematical analysis etc.), and is of interest to both theoretical scientists and practitioners. The usefulness of this approach became evident after the financial crisis of 2007–2009, which prompted many researchers to develop and constantly improve stress-testing methodologies, using which it is possible to accurately forecast the behavior of banks and the financial sector in crisis periods. It allows banks to assess the scale of losses and timely take the necessary measures to strengthen the financial condition. Today, economic science has the biggest arsenal of stress testing methods that allow us to assess potential losses in crisis periods that correspond to extreme but plausible events. The stress testing methodologies cover all-important types of risks (credit, interest rate risk, liquidity risk etc.), as well as specific risks. The presence of a huge number of stress testing methods guarantees its versatility and depth, which could be explained by the attempt using this methods to create a behavior model of banks, which are quite complex in structure and functionality. The purpose of this study is to provide a concise, but at the same time comprehensive classification of stress testing methods, as well as a review of the current approaches to stress testing or to solving its various aspects (for example, developing stress scenarios) presented by scientists, international organizations, central banks and other interested parties. This paper is an introduction to the vast field of analytics – stress testing, and is oriented to banking and financial analysts, macroeconomists who want either to familiarize themselves with stress testing as a tool for assessing banking risks, or to systematize all the accumulated knowledge in this area in order to better understand economic processes.
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Jankowska, Joanna. "Psychological Insights Into Decision‑Making." Kwartalnik Ekonomistów i Menedżerów 42, no. 4 (October 1, 2016): 0. http://dx.doi.org/10.5604/01.3001.0009.5485.
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This paper considers the widely approached problem of how individuals and groups make economic decisions. The author’s belief is that the answer to this question is highly interdisciplinary and lies not only in areas of study such as microeconomic theory and organisational behaviour, but also psychology, neuroscience and ethics. The author attempts to summarise a few chosen, existing models, which can help analyse both logical and psychological aspects of the process, and mentions a new, rising interdisciplinary field of neuroeconomics, which offers high potential for construction of new decision‐making models in the future.
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Shaidurova, Natalia, and Mária Homokyová. "The Methodology of Tax Records for the Support of Tax Management." Multidisciplinary Aspects of Production Engineering 3, no. 1 (September 1, 2020): 720–31. http://dx.doi.org/10.2478/mape-2020-0060.
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AbstractTax policy is associated with the use and application of taxes and their instruments, which serve to influence macroeconomic and microeconomic processes in the economy. We can derive the tax policy from the applied economic policy of the state. The objectives of economic policy are aimed in particular at strengthening the effectiveness of the market mechanism, reducing pension and property inequality, as well as strengthening the internal and external stability of the state. In securing them, the state must take into account many internal, as well as international aspects, focused not only on economic but also on political, social, defenses, ethical and other interests. The individual goals that the state sets by its economic policy can be effectively achieved through goal-oriented policies that form part of economic policy. The state’s social policy, unemployment policy, tax policy, etc. fulfil their role. These policies then have a retroactive effect on the economic policy of the state. The subject or goal of tax policy is the application of tax principles and measures so that taxes serve to promote the economic, social and political goals of the state.
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Wnorowski, Henryk. "Development challenges of contemporary enterprises." Studia Sieci Uniwersytetów Pogranicza 4 (2020): 207–14. http://dx.doi.org/10.15290/sup.2020.04.14.
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Goal – this article’s main goal is to showing that the truly important economic processes happen at the microeconomic level, they happen in enterprises. This is where the surplus value is produced. Producing this value is not easy, however, and is associated with a number of challenges. Research methodology – the author focuses on the descriptive method, which shows, on the one hand, the importance of activity at the microeconomic level, and on the other hand, indicating selected challenges faced by modern enterprises. Score/results – the article allowed to indicate the specificity of conditions in which modern enterprises operate. Large number of them are able to maintain their position in the industry for a very long time. It is able, but it is not so sure. In the conditions of global competition, nothing is certain in the long run, including the position of enterprises. They can work better or worse, they can be very small or larger, they can grow or curl, unfortunately they also fall. Originality/value – the article is a standard description of economic reality. It has no novelty or innovative aspects, it only organizes the described reality.
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Tatahi, Motasam. "Enterprise Performance, Privatization and the Role of Ownership in Finland." Journal of Economics and Behavioral Studies 5, no. 3 (March 30, 2013): 122–35. http://dx.doi.org/10.22610/jebs.v5i3.387.
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In both economically developed and developing countries, privatisation, budget austerity measures and market liberalisations have become key aspects of structural reform programs in the last three decades. These three recommended policies were parts of strong revival of classical and newclassical school of thought since the middle of 70s. Such programs aim to achieve higher microeconomic efficiency and foster economic growth, whilst also aspiring to reduce public sector borrowing requirements through the elimination of unnecessary subsidies. For firms to achieve superior performance a change in ownership from public (state ownership) to private has been recommended as a vital condition. To assess the ownership role, the economic performances of private, public and mixed enterprises in Finland is compared through the use of factor analysis method. The extracted factors, using data of two years, 1998 and 2000, do not pick ownership as a key performance factor.
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Kirigia, Joses. "Health impacts of epidemiological environment change: measurement issues." Environment and Development Economics 1, no. 3 (July 1996): 359–67. http://dx.doi.org/10.1017/s1355770x00000693.
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Epidemiological environment (EE) could be denned as a set of conditions and processes, both physical and social, that influence the interaction between human beings and disease agents. The human epidemiological environment is shaped by various aspects of development and global change, viz. the influences of human population size, mobility, geographic distribution, urbanization, and nutrition status; modernization (macro-and microeconomic enterprise); loss of indigenous medicinal knowledge; microbial evolution of antibiotic resistance; land conversion and biodiversity loss; agricultural intensification; stratospheric ozone depletion; and climatic change (Daily and Ehrlich, 1995). Health status is affected greatly not only by economic development (e.g. by policies influencing per capita income and its distribution), but also through changes in EE.
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Mortikov, Vitalii. "About surplus of the buyer/seller in the labor market." Population 24, no. 2 (June 29, 2021): 109–19. http://dx.doi.org/10.19181/population.2021.24.2.10.
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The objective of the article — to analyze not only microeconomic, but macroeconomic aspects of surplus of the buyer/seller in the labor market, to research economic policy oriented on its redistribution. The concept of employer/employee surplus in the labor market is clarified. This surplus is a socio-economical phenomenon, some noneconomic factors must be taken into account in researching it. The influence of inflation, social and age characteristics, changes in the market positions of labor market subjects on their salary offers and surplus has been determined. It makes sense to differentiate between nominal and real surplus, fixed surplus and surplus that can be influenced. The article presents grouping of job advertisements based on salary formulation. Informational aspects of the identifying economic surplus are considered. The author proposes direct and indirect indicators to reveal the changes in economic surplus: wage proposals in the vacancy announcements, salary reviews, resume data, population polls, prices for services of individual entrepreneurs, dynamics of unemployment and shadow employment etc. Potential of the government policy on surplus redistribution and the regulation of employer/employee behavior is substantiated. Some instruments aimed at such redistribution through incomes of employers, employees are proposed: minimum wages regulations, changes in taxation (personal income taxation, wage taxes); indexation of personal incomes, subsidization of wages, antimonopoly and administrative regulation of prices. The government can also influence the behavior of surplus receivers through immigration policy. The influence of some instruments on surplus regulation is contradictory. Minimum wage regulations can increase and decrease the surplus at the same time.
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Holodova, Marina. "State planning as a tool for progressive development of agriculture." Agrarian Bulletin of the 199, no. 8 (August 31, 2020): 90–98. http://dx.doi.org/10.32417/1997-4868-2020-199-8-90-98.
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Abstract. Purpose. The research is aimed at studying and substantiating the directions of improving the state planning system and adapting the methodology of its use to the trends of modern economic reality. Methods. The methodological apparatus of research on the stated problem is based on methods of economic and comparative analysis, expert assessments. Methodological aspects of the development of the state territorial plan for agricultural development are described. Results and practical significance. The article examines the features of the formation of the state planning system in the agricultural sector of the economy. The mechanism of forming a program-target approach in the national system of state planning is studied. The necessity of using state planning tools in the conditions of adaptation of the agricultural sector of the economy to the trends of turbulence in the world and national economy is substantiated. It is argued that the lack of effective scientific-based tools for the system of state regulation of the economy is becoming the main factor hindering the development of the agricultural production sector of the country. The results of the study show that in modern conditions, the use of state planning tools should be systematic, including macro-and microeconomic aspects. The conceptual provisions of the study and its practical conclusions can be used by economic entities to improve the quality of management decision-making, as well as by public authorities at various levels of management as a tool for scientific foresight and variant analysis to stabilize the agricultural sector of the economy in the new economic reality. Scientific novelty. The developed model of state territorial planning of development of agrarian sector of economy of Russia, presented the key elements of the state strategic planning: plans, forecasts, programmes and projects, and adapted to the new economic reality. The trends of the pandemic allowed us to emphasize once again the author's hypothesis that state planning is a tool for the progressive development of agriculture in modern conditions.
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Blinder, Alan S., and Louis J. Maccini. "Taking Stock: A Critical Assessment of Recent Research on Inventories." Journal of Economic Perspectives 5, no. 1 (February 1, 1991): 73–96. http://dx.doi.org/10.1257/jep.5.1.73.
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Empirical and theoretical aspects of inventory behavior became hot topics in the 1950s and early 1960s. No one seemed to notice the tension that was developing between the emerging macroeconomic and microeconomic views of inventories. Macroeconomists routinely thought of inventories as a destabilizing factor, yet the prevailing micro theory viewed inventories as a stabilizing factor. It was a fascinating question that was barely explored. Instead somewhat inexplicably, interest in inventories dried up, as if inventories were of minor economic significance and little intrinsic interest. By the early 1980s, then, economists once again knew something they had known in the 1950s: that inventory investment is of first-order importance in business cycles. But they were also beginning to realize that the standard production-smoothing/buffer-stock model of inventories was in deep trouble. This paper focuses on developments since that realization.
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Czech, Artur, and Jerzy Lewczuk. "Taxonomic and Econometric Analysis of Road Transport Development in Poland – The Voivodship Approach." Ekonomia i Zarzadzanie 8, no. 3 (September 1, 2016): 79–88. http://dx.doi.org/10.1515/emj-2016-0026.
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Abstract Transport is considered one of the basic aspects of the movement of people, raw materials as well as goods from the place of origin to the destination. Moreover, in the wider sense, transport includes economic bodies that aim to achieve goals similar to those of businesses that produce a wide range of goods required by customers. Hence, the efficient operations of basic branches of the transportation system determine the entire national economy. Furthermore, transport is considered a basic factor of development, both on the macro- and microeconomic scales. The aim of the paper is to attempt the assessment of the road transport in Poland as an important element of macro logistics. Furthermore, one of the aims of the investigation was the explanation of its influence on the level of economic development in Poland. As the source of information, the research used the data drawn from the Central Statistical Office of Poland. The main methods implemented in this study were both classic and order synthetic measure construction. Further, these measures were used in econometric models as well as for the prediction of their values. The main result of the analysis indicates that the development level of the widely considered infrastructure is strictly correlated with the socio-economic development of particular voivodships. The study on the level of road transport development can lead to a better understanding of the socio-economic development of particular areas of Poland as well as the more efficient use of the support funds.
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Kleiner, G. B. "Intelligence-based theory of the firm." Voprosy Ekonomiki, no. 1 (January 12, 2021): 73–97. http://dx.doi.org/10.32609/0042-8736-2021-1-73-97.
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This paper presents the main provisions of the intelligence-based theory of the firm, which is a new direction in studying microeconomic entities. The objects of the theory are firms, whose activities to a decisive extent depend on the capacity and efficiency of using the firm’s intellectual abilities. These abilities allow analyzing the structure and characteristics of the firm’s internal and external social and economic environment in space and time. Intelligence features as a leading factor of production in interaction with the firm’s mental abilities and material resources are investigated. The requirements for models reflecting the influence of intelligence on the firm’s performance in strategic and tactical aspects are determined. The types of intelligence are classified depending on its participation in the formulation and solution of the firm’s tasks. Perspective directions of development and application of the intelligence-based theory of the firm are outlined.
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Мустафаев, А. А. "КЛЮЧОВІ АСПЕКТИ СТРАТЕГУВАННЯ АПК ПІВНІЧНОГО РЕГІОНУ: ОСОБЛИВОСТІ, ТЕНДЕНЦІЇ ТА ПЕРСПЕКТИВИ." TIME DESCRIPTION OF ECONOMIC REFORMS, no. 3 (November 10, 2020): 74–80. http://dx.doi.org/10.32620/cher.2020.3.09.
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Статья пFormulation of the problem. The article is dedicated to the problem of disclosure of key aspects of agribusiness strategy in the Komi Republic. The aim is to develop appropriate theoretical and practical recommendations for the formation of basic principles and to create necessary conditions for the strategic development of the agro-industrial complex of the region. The subject is the deployment of a scientific approach to solving key tasks and goals for stable development of the agro-industrial complex of the region. Research methods are scientific abstraction, complex-system approach, historical and logical method, analysis and synthesis, observations. The hypothesis consists of creation of a solid financial and production base for the region's agro-industrial complex - the formation of reliable and long-term sources of investment. The state of key indicators of economic activity of the agro-industrial complex is determined, and opportunities for improving the efficiency of production capacities are identified. Presentation of the main material. The agro-industrial complex as an intersectoral, multifunctional and multi-level organizational structure has not only internal, but also external incentives for development. Therefore, the effectiveness of the strategic development of the agro-industrial complex should have the following aspects: manageability, purposefulness, financial feasibility, integrity of organizational structures and technological development, functions of integration behavior, relations with the external environment (natural, financial, economic, environmental), living conditions of the population. The originality and practical significance consist of the recommendation of a comprehensive and systematic approach to solving the tasks set. Conclusions. the tasks of strategizing the agro-industrial complex of the region for the future should be based not only on the efficiency of the used production elements, but also on a competitive mechanism covering the entire production and market system. The prospects for further research are to conduct large-scale intersectoral financial, economic, and other adjustments in various macro, meso and microeconomic levels of the agroindustrial complex of the region
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Yakhno, Tetyana P., and Ulyana A. Martynyuk. "Perspective directions of development of local gastronomy tourism in the conditions of European integration." Regional Economy, no. 4(98) (December 2020): 125–30. http://dx.doi.org/10.36818/1562-0905-2020-4-15.
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The article identifies the main aspects of gastronomy tourism in Ukraine and in the world and possible prospects and trends for further development of gastronomy tourism in our country. The variety of gastronomic festivals and tours in the leading regions of the country available in Ukraine are analyzed. Factors and entities of development of gastronomic tourism in each region and the reasons of their uneven application are allocated. The perspective areas of gastronomy tourism development in Ukraine to create a promising and competitive product on the international market of tourist services are outlined. Ukraine as a new tourism destination is increasingly establishing itself on the tourists’ travel map. The information is supplemented by various ratings from international tourist guides, which recommend travelers to turn their eyes to Ukraine. In Ukraine, the tourism industry is in its infancy, but its operation has a significant impact on the economy and is quite promising. Ukraine has very promising conditions and opportunities for activating the tourist capacity, in particular, due to the availability of unique natural and recreational resources, historical and cultural monuments, rich flora and fauna, areas of various forms of recreation, interesting and delicious dishes. Forming the innovation clusters, which are groups of enterprises, firms, organizations, and institutions operating in one (or several related) business area by economic interests and regional characteristics is one of the perspective forms of economic integration and development in the tourism industry of Ukraine. The advantage and novelty of the cluster approach are that it provides significant importance to the microeconomic component, as well as the territorial and social aspects of economic development. In modern conditions, the improvement of methods of organizational, financial, and resource-based support for tourism development at the macro, meso-, and micro levels is highly relevant. The intensification of the tourism companies’ activity should be based on the expansion of the possibilities of regional investment processes management in the specified direction and the combination of efficient state regulation of the economy with market self-regulation.
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YANKOVYI, Oleksandr, and Volodymyr YANKOVYI. "CAPITAL-LABOR RATIO IN UKRAINE’S MACHINE BUILDING: REALITY AND OPTIMALITY." Economy of Ukraine 2018, no. 8 (August 14, 2018): 16–29. http://dx.doi.org/10.15407/economyukr.2018.08.016.
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The article examines the situation of appearance of a non-optimal capital-labor ratio on the basis of a comparison of the relative speed of the dynamics of indicators of labor productivity, capital productivity and capital-labor ratio in machine building industry of Ukraine in recent years. Mathematical determination of the optimal capital-labor ratio is substantiated on the basis of production functions taking into account dynamics of the most important indicators of economic activity, presented in value terms. Methodological and applied aspects of the use of the equimarginal principle from microeconomics are discussed to determine the optimal capital-labor ratio within the limits of substitutional production functions. It is proved that at the point of optimal capital-labor ratio, the marginal rate of replacement of production factors’ substitution is equal to one. The resulting conclusion is used as a basis for development of a procedure for finding optimum capital-labor ratio using econometric models, which adequately describe the relationship of time series of product sales, basic productive assets and labor costs based on substitutional production functions. The use of the proposed procedure for determining the optimal capital-labor ratio is carried out on the example of the Cobb-Douglas-Tinbergen production function, the dynamised CES-function and the linear function. The methodological recommendations on calculation of unknown parameters are presented for these functions, as well as the formulas of optimal capital-labor ratio with indicated extreme values of products sold and the total costs for basic production assets and labor payment. The obtained theoretical results are tested according to the data of Ukraine’s machine building. The hypothesis about non-optimal capital-labor ratio in 2007-2015 is confirmed in terms of volumes of sales of the industry production. It turns out that for the analyzed period of time, the basic production assets of machine building were relatively abundant compared with the payment of labor. In 2016-2017, a positive trend begins in dynamics of the capital-labor ratio in the industry to a certain reduction and a gradual approach to the optimal value.
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Panevnyk, T. M., and N. K. Bolgarova. "The Behavioral Aspect of Economic Growth." Business Inform 8, no. 523 (2021): 13–18. http://dx.doi.org/10.32983/2222-4459-2021-8-13-18.
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The article discusses the essence and significance of behavioral economics. The need to take into account the instrumentarium of behavioral economy in the process of solving socio-economic problems is substantiated. The macroeconomic indicators of development of Ukrainian economy are analyzed. Ukraine’s place in the world ranking in terms of GDP per capita is considered. The integrated assessment of the overall economic activity of the country using the Global Competitiveness Index (IGC), the Human Development Index (HDI), and the index of Quality of Life Index by Country are carried out. International comparison of economic growth indicators is highlighted. The dynamics of total income, expenses, savings of the population are analyzed and the significant influence of behavioral factors on decision-making in this sphere is identified, their relationship at both micro and macro levels is disclosed. A significant influence of behavioral factors on decision-making on consumption, expenses and savings is identified, their importance in crisis situations is emphasized. It is proved that the behavioral aspect of economic growth involves not just the inclusion of psychological factors in the classical analytical models, but a combination of microeconomic components with macroeconomic ones. The need to expand the analysis of economic development based on taking into account the behavioral aspect as the driving force of economic development is substantiated. It is noted that the instruments of behavioral economics should be used in the process of developing and conducting socio-economic policy. It is defined that the behavioral economy is one of the instruments that strengthens the possibilities of effective decision-making by the actors together with their impact on socio-economic processes.
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Sayım, Ferhat, and Nurdan Serdar. "The Perception of Teachers about Financial Markets and Instruments Information." EMAJ: Emerging Markets Journal 9, no. 2 (July 6, 2020): 1–7. http://dx.doi.org/10.5195/emaj.2019.186.
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In recent years, online shopping, online financial transactions and social media have become a subject of interest to everyone. Current economic news and economic developments are being interpreted by all. In addition, individuals constitute the class of consumers as the most important element of microeconomics. Also regardless of profession, individuals carry out entrepreneurial activities and constitute economic units such as firms and so on. The public's so much interconnectedness with the economy is normal, and this interest has been the subject of more research in academic circles in recent years. Many researches have been done on measuring the financial literacy of various public sectors. Various scales have been prepared. The financial literacy of teachers, who are the main component of education system, is very important both in terms of the large professional community they represent and in terms of the student population they train. In this aspect, teachers' familiarity with financial systems and concepts, how they make sense of them in their daily lives have been seen as a subject worth investigating. The scales of financial literacy studies are examined in the literature. Also, the scale of the measurement of the level of financial knowledge felt towards the business environment other than financial literacy has been examined. A new scale has been prepared that includes the main elements of these two basic scales. A survey has been conducted in various subtitles that do not exceed one page. The questionnaire was applied to teachers in schools. It is given high importance that they fill the questionnaire with the researcher. Data which transmitted in excel are tried to be interpreted through the SPSS program. The survey contains sub-headings and will serve as the basis for more than one study. Teachers' knowledge of the financial system is as low as expected. When applying the questionnaire, teachers talk about realizing that they don't really know some of the concepts they use in everyday life. However, it is observed that the information levels are increasing about some focus issues. Data related teachers' financial literacy, such as the functioning of the financial system, recognizing financial institutions, recognizing financial instruments, recognizing and making financial transactions are gathered. Summary tables have been created. In this study, teachers' familiarity with financial concepts is explained.
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Dźwigoł, Henryk. "The Uncertainty Factor in the Market Economic System: The Microeconomic Aspect of Sustainable Development." Virtual Economics 4, no. 1 (January 31, 2021): 98–117. http://dx.doi.org/10.34021/ve.2021.04.01(5).
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Opportunities for sustainable development of the business entity largely depend on the uncertainty factor, which, in particular, is expressed in the asymmetry of information. Due to the influence of this factor, forecasting the efficiency of enterprises becomes a difficult task. Every company must meet the requirements of modern reality and be open to new solutions. The purpose of this study is a microeconomic analysis of factors that affect the sustainable development of enterprises. The uncertainty condition is considered as an integral element of the modern concept of company management. Based on the analysis of the literature, personal observation and interviews with managers, the guidelines for building a modern microeconomic model of a market economy were identified, which can further become the basis for creating new organizational management models.
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Nelson, Julie A., and Steven M. Sheffrin. "Economic Literacy or Economic Ideology?" Journal of Economic Perspectives 5, no. 3 (August 1, 1991): 157–65. http://dx.doi.org/10.1257/jep.5.3.157.
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The Test of Economic Literacy (TEL), is a standardized multiple choice test developed under the auspices of the Joint Council on Economic Education with esteemed economists in an advisory role. The Test of Economic Literacy (TEL) is administered in many high school economics courses both to measure economic understanding and to monitor the effectiveness of teaching. We found that some of the questions in the test have a pronounced ideological slant. We view the biases in the TEL as characteristic vices of economists. In their weaker moments, economists can slip into a thought pattern which glorifies laissez-faire microeconomics while at the same time favoring Keynesian interventionist macroeconomics; this is precisely the bias of the TEL. The next two sections examine the ideological components of the microeconomics and macroeconomics respectively. For each part, we present a few of the questions and discuss their ideological content. For the micro part, we use the TEL data bank to analyze a matched sample of students who took the test before and after a course in economics. This empirical exercise allows us to address the questions in the title of the paper: what is taught and measured, literacy or ideology?
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Mironova, Svetlana Viktorovna, and Natal'ya Stanislavovna Timchenko. "Export of higher education in Russia: an overview of theoretical approaches and practical solutions." Социодинамика, no. 11 (November 2020): 65–80. http://dx.doi.org/10.25136/2409-7144.2020.11.33940.
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This article examines the theoretical approaches towards definition and analysis of the concept of export of educational services that formed in the Russian scientific context: sociopolitical, economic, and demographic. Within the framework of economic approach towards analysis of the export of educational services, two author determines two aspects: macroeconomic and microeconomic. The author describes the integrated characteristics and interpretation of the content of export of educational services in the Russian scientific publications. The models of export of educational services: passive, active, and distance are determined. The criteria for the expansion of export of educational services are outlined. The article discusses the current practice of export of educational services established in the Russian higher education The results of the conducted theoretical analysis consists in a number of theses: 1) development of the category of the export of educational services as the basis for creation of theoretical models and technologies of practical implementation is absent; 2) the economically oriented instrumental assessment of the export of educational services is prevalent, which is not fully approved by educational organizations, since universities are not just dividends; 3) sociocultural experience and peculiarities of promotion the export of educational services in the countries of the former socialist camp can be useful; 4) the psychological-pedagogical component of the export of educational services (evaluation of psychological factors for successful education of foreign students, methodological questions of teaching foreign students in Russian universities, etc.) is virtually left out.
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Stepanov, Dmitry A. "Sustainable development of industrial enterprises through the use of venture capital and technology." Market economy problems, no. 3 (2020): 165–77. http://dx.doi.org/10.33051/2500-2325-2020-3-165-177.
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Subject/topic. At the present stage of development in the Russian Federation, all the necessary prerequisites for the implementation of venture activities in industrial enterprises have developed, which include: global factors (determined by global eco-nomic development and its evolution), macroeconomic (determined by the characteristics of the functioning of the national economy) and microeconomic (deter-mined by the specifics of individual business activities subjects). Goals/objectives. The purpose of this article is the development and scientific justification of theoretical and methodological foundations, methodological approaches and practical recommendations on the venture activities of domestic industrial enterprises in the con-text of their sustainable development. The object of research is the theoretical and methodological foundations of venture activity in industrial enterprises. The subject of the study is a complex of systemic ties and economic relations arising between subjects of venture activity. Research Methods. The methodological basis of the re-search is the dialectical method of scientific knowledge, the general scientific principles of conducting integrated research, the fundamental principles of modern eco-nomic theory, marketing, and the conceptual principles of managing innovative activities. In the research process were used: statistical analysis – in the study of the state of development of industrial enterprises; abstract logical analysis – when developing a conceptual model of venture financing; system-functional – in the study of the conceptual foundations of a breakthrough strategy for industrial enterprises and the essential characteristics and structural components of the economic mechanism of venture activity of industrial enterprises; methods analysis and synthesis – when substantiating the methodological aspects of the venture activity of domestic industrial enterprises. Results. The article suggests the process of attracting venture capital business to the development of industrial enterprises, which takes into ac-count the specifics of the activities of domestic economic entities. The author pro-poses to use the liability allocation matrix to account for additional organizational costs.
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Simonyan, T. V., and N. V. Shvydenko. "Strategic Management as a Basis of Sustainable Development in Agricultural Production." Economics and Management 27, no. 7 (September 1, 2021): 523–29. http://dx.doi.org/10.35854/1998-1627-2021-7-523-529.
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Aim. The presented study aims to substantiate a structural model for developing a sustainable development strategy in agricultural production, making allowance for changes in the level of impact of environmental factors.Tasks. The authors determine the reasons why the Russian agro-industrial complex (AIC) is lagging; identify the specific aspects of forming a strategy for the sustainable development of regional AICs; formulate urgent problems of sustainable development for the agri-food sector of the Russian economy at the federal, regional, and enterprise levels.Methods. This study uses a reasonable and objective approach to the problem of applying strategic management as a foundation for the sustainable development of agricultural production based on the knowledge of the laws of development of socio-ecological and economic systems and a study of multidirectional factors of the external and internal environment. The methodological basis for the sustainable development of agricultural production includes the concept of sustainable development as a priority at the macroeconomic level; strategy as a planning tool based on consistency with programs implemented at the federal, regional and municipal levels of public administration; methods and tools of strategic management at AIC enterprises.Results. The key aspects of the institutional-synergetic approach to the sustainable development of the AIC include the need to coordinate all factors by forming coherent goals not only among economic and financial institutions, but also for technopolises that combine scientific, industrial, financial, and entrepreneurial capital into one system cluster structure. The authors formulate the stages of implementing a strategy for the sustainable development of regional AICs, making it possible to come up with measures aimed at reorganizing the structure of the agricultural sector and to overcome the negative manifestations of crises in the Russian economy, thus minimizing their consequences.Conclusions. During the development of a strategy for the sustainable development of regional AICs, a multiplicative effect arises, making it possible to activate innovation policy and boost the development of other sectors of the economy, improving the population’s quality of life. When developing a strategy at the microeconomic level, it is necessary to make allowance for the specifics of the industry and the mission of a modern agro-industrial enterprise and to focus on solving problems formulated based on the trinity of goals of social, environmental, and economic long-term sustainable development.
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Kadala, Vitaliy, and Olena Guzenko. "ANTI-CORRUPTION ASPECTS AS A REGULATOR OF THE DEVELOPMENT OF THE RAILWAY INDUSTRY." Law Journal of Donbass 76, no. 3 (2021): 84–91. http://dx.doi.org/10.32366/2523-4269-2021-76-3-84-91.
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Rail transport plays a significant role in the life of the economic sector of the country. However, the existence of a significant number of negative factors violate the timing of the planned ways of its development. Among them, it is worth paying attention to the slow pace of adaptation of already adopted legislative initiatives, insufficiently substantiated taxation of services provided for the transportation of various goods and passengers (cross-subsidization) and problems arising from the transportation of privileged categories of citizens. Іncrease in the price of services provided, the presence of an inflation component, exchange rate fluctuations, etc. Despite the constant increase in the price of transportation services, the renewal of rolling stock and stationary railway transport is not carried out at a level that would help raise its quality level. This phenomenon is present in the operations of transportation of goods, luggage and passengers. There is a discrepancy between the growth rate of prices for rail transport services and their quality level. Among the additional negative factors should be noted the lack of funds for the renewal of rolling stock and its repair; inefficient financial planning and asset management of divisions; lack of working capital; low level of effective personnel planning and management; the threat of losing highly qualified employees, especially managers, due to reaching retirement age; lack of sufficient motivation for innovation and inventive activity; insufficient qualification of employees; possible resistance of personnel to organizational changes. There are also technical and technological problems. A significant part of the financial resources for the development of the domestic railway does not enter the process of cash flow formation due to the presence of corrupt actions carried out by individual representatives among the responsible persons. Representatives of the top management of the domestic railway must have an effective program of anti-corruption measures, but taking into account the legal framework that is already laid down in existing legislation. This study indicates the exacerbation of existing problems of the domestic railway, which requires immediate intervention at the macroeconomic and microeconomic level, as well as macro-legal and micro-legal level. The article reveals the problems of development of railway enterprises, determines the negative impact of corruption on its development, argues the need for anti-corruption measures that act as regulators of the development of the railway industry in the future. Outlines the content of the principles and substantiates the feasibility of their implementation in accordance with the Draft Law of Ukraine «On the Principles of State Anti-Corruption Policy for 2020–2024». Contains the author's proposal on the content of the conceptual categories «strategic anti-corruption intentions» and «anti-corruption event» and argues the benefits of their use by top management of the railway industry.
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Fischer, Bruno Brandão, and José Molero. "Transactional dynamics in European R & D networks: an assessment of Eureka." European Journal of Innovation Management 18, no. 3 (August 10, 2015): 330–54. http://dx.doi.org/10.1108/ejim-10-2013-0097.
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Purpose – The purpose of this paper is to verify the impacts of the transaction costs rationale on economic agents’ innovative results when they engage in European R & D networks, supplying both firms and policymakers with empirical support for improved decision making toward economic competitiveness and construction of the European research area. Furthermore, unlike many transaction cost economics assessments, the authors evaluate the existence of transaction costs following a dynamic framework of analysis (instead of using solely ex ante governance choice as a driver of inter-firm “friction” management), offering a novel perspective on these phenomena. Design/methodology/approach – Data consist of firm-level information from Eureka’s Final Reports (1995-2006) for Spanish, Italian, French, British and German firms. Empirical assessments were performed through a two-step approach of direct and indirect effects of network management and potential sources of disturbances. Ordinal regressions were applied in order to identify transaction costs’ relevance as drivers of firms’ technological and commercial outcomes, as well as on managerial quality of alliances. Statistical controls include microeconomic and project-specific variables. Findings – Results highlight the role played by transactional aspects as drivers of companies’ outcomes and managerial complexity. Furthermore, the authors find robust evidence that formal ex ante governance structures are incapable of satisfactorily addressing dynamic disturbances that take place within R & D networks. Whereas such findings are directly related to existing transaction costs, the authors find no support for the usual variables attributed to increased complexity in international inter-firm relationships. Research limitations/implications – Self-selection issues are inherently related to the research instrument (i.e. Eureka’s Reports), while further firm-level data could not be obtained since confidentiality issues protected companies’ names and sectors. Also, network-level data are not available, allowing the evaluation of individual perceptions only. Originality/value – While literature addresses the issue of transaction costs in R & D networks via theoretical assumptions and rough proxies, this assessment offers an in-depth evaluation of a set of valuable indicators with direct implications for researchers, managers and policymakers. Main contributions concern the identification of dynamic interactions (and their respective disturbances) as a key feature of the overall performance of R & D networks, stressing the non-linearity of economic processes in these hybrid relationships, an issue that has been poorly tackled by previous empirical investigations.