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Question: The Best and Worst Degrees by Salary Business administration is always a strong contender for honours as the most popular university major. This is no surprise since students think business is the way to make big bucks. But is business administration really as lucrative as students and their parents believe? Nope. In a new survey by Pay Scale, Inc. of salaries by degree, business administration didn't even break into the list of the top 10 or 20 most lucrative degrees. A variety of engineering majors claim eight of the top 10 salary spots with chemical engineering ($65,700) winning best for starting salaries. Out of 75 undergrad majors, business administration ($42,900) came in 35th, behind such degrees as occupational therapy ($61,300), information technology ($49,400), and economics ($48,800).
a. Why do university graduates with different majors have drastically different starting salaries?
b. Draw a graph of the labour markets for economics majors and business administration majors to illustrate your explanation of the differences in the starting salaries of these two groups.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
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Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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