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Economic systems and market methods (Economic analysis (Elaborating…
Economic systems and market methods
New markets, new perspectives
countries differ in various way
Economic and Political Changes Alter Market Circumstances
Connections, Change, and Consequences
Challenges of the Comeback
Choices of Citizens, Policymakers, and Institutions
International economic analysis
214 discrete economic environments in the world
188 countries and 26 economies with populations of more than 30,000
Few MNEs can fund and run operations in all 214 markets
objective measures that help system- atize evaluation
system complexity
market dynamism
market dynamism
market interdependance
Data overload managers
Economic freedom
economic freedom today
a decrease in economic freedom among countries worldwide
In 2011, economic freedom regained momentum
five countries have free economies
30 countries are rated mostly free
Value of economy freedom
helps explain a country’s development, performance, and potential
inflation and employment rate better in economically free countries
The message of economic freedom is unequivocal: liberating resources from government control improves financial performance, economic stability, and standards of living.
Trends in economic freedom
fear of freer markets
the market test
Types of economic systems
Market economy
doctrine of capitalism
privatization
deregulation
property rights
antitrust legislation
Command economy
Communism
crash in the face of growing inefficiency, inequality, cronyism, corruption, and, ultimately, disgruntlement.
political ideology, communism calls for an egalitarian,
Mixed economy
integrates elements of the command and market systems
the state intermingles ownership of some resources, centralizes certain planning func- tions, and regulates the market
the interaction of supply and demand, signaled to producers through the price system, rather than public dictate, optimizes produc- tion
Assessing economic development, performance and potential
Measure of economic performance
gross national income
gross national product
gross domestic product
Adjusting analytics
rate of economic growth
population size
purchasing power parity
Potential and performance
sustainability
stability
Economic analysis
Inflation
Inflation and the cost of living
measuring inflation
deflation
Unemployment
Debt
Income distribution
benefits and costs
gini coefficient
poverty
prevalence of poverty
the potential of poor
success standards
Balance of payment
Elaborating conomic analysis with global indice
GCI
WCI
GII
WTBBI