BUS 1301 Basic Economics (BUS1301)

Class notes that cover the import-export sector of a country's GDP. It covers the concept of international trade, the balance of trade, free trade organizations, and more.

Class notes that cover the government's role in the economy and in the GDP. This includes how the government influences the economy, how it gets its revenue, and the taxes it levies on the people.

Class lecture notes on the Gross domestic product and how it is linked to determining the economic well-being of a nation.

This set of class notes tackles the second sector of the four sectors of GDP, the business investment sector. Topics covered in this include; investments, Proprietorship, Partnership, Corporations, Limited Partnerships, Limited Liability Proprietorships, Stocks, Bonds, Capitalization, Residential Construction Investment, Plant Investment, Gross Investment, Net Investment, Sales Outlook, Capacity Utilization Rate, Interest Rates, Expected Rate of Profit and GDP Review. Sample problems are inclu...

This set of class notes tackles the first of the four sectors of GDP, the consumption sector. Topics covered in this include; consumption function, savings, Average Propensity to Consume (APC), Average Propensity To Save (APS), Marginal Propensity to Consume (MPC), Marginal Propensity To Save (MPS), Autonomous & Induced Consumption, and Permanent Income Hypothesis. Definitions and equations for each of these topics are also provided in each section.

This is an essay that explores America's consumer behavior and how it impacts the US economy. It explores how their behavior has led to problems in the US economy which include credit card debt and low savings among Americans. In this paper, several solutions are offered to fix this problem including interest rates, tax reforms, and introducing reforms that incentivize companies to take actions that contribute to the US economy. It also explains how the behavior has benefitted the economy.