Self-tutoring: old-time economics students like to track certain relationships. The tutor mentions the US deficit vs GDP. For 2018, the US deficit is estimated at $804B, while its GDP is around 19.4T. In percent, the deficit to GDP is 804…
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Category: economics
Economics, business: the US trade deficit: good or bad? (Part 0)
Reading about economics means self-tutoring. The tutor discusses the disadvantage – or advantage, of the US trade deficit. The US has run a trade deficit since the late 70s. Simply put, a trade deficit means that the country’s imports are…
English, economics, history: what is mercantilism?
Tutoring a number of subjects, the term mercantilism might arise. The tutor defines it. mercantilism economic policy that favours exports, discourages imports, and has the objective of amassing precious metals. Source: Barber, Katherine et al. Oxford Canadian Dictionary of Current…
Tagged with: what is mercantilism?
Statistics: confidence interval for the mean (two sided)
Tutoring statistics, confidence intervals are important. A two-sided confidence interval for the population mean is given by sample_mean – (standard_dev/n1/2)*sig_factor, sample_mean + (standard_dev/n1/2)*sig_factor The sig_factor (significance factor) depends on the certainty (confidence level) with which we want the confidence interval…
Economics: US trade deficit: Is it real?
The tutor probes more deeply into the concept of the US trade deficit. In my January 1 post I began about the US trade deficit, mentioning, for example, that it’s exceeded $500 billion per year over the last ten years.…
Economics: oligopoly vs monopolistic competition
The tutor compares big business with small business. In yesterday’s post I talked about firms in monopolistic competition – the situation characterized by negligible boundary to entry large number of small firms competing average long-run profit approx. zero Oligopoly is…
Economics: small business: monopolistic competition
The tutor looks into monopolistic competition and the long-run trend faced by its entrants. Monopolistic competition exists, in a given business, when there is free entry – that is, when starting a new enterprise engaged in that business is easy.…
Business math: a word problem about market share.
The tutor works a word problem to find time until market share equalization. Imagine a relatively new device, of which there are two competing versions, A and B. (We assume that no-one owns both.) The potential market is 100 million,…
Economics: the US trade deficit
The tutor looks into the export of US dollars. Since sometime in the late 1970s, US imports have exceeded exports. More specifically, the US trade deficit has exceeded $500 billion per year over the last ten years. A casual observer…
Tagged with: US trade deficit
Business and Economics: The price of oil, Part II
The tutor looks into why oil is less than half its price two years ago. Back when oil was over $100, I thought I understood the reason: China, India, and other developing countries have a growing middle class. Those swelling…
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