Economic Ruse Essay

Financial Simulation

Isaac Newton's third law of motion declares, " That for every actions there is an equal and opposite reaction. This is also true for economics. The actions and result of supply and demand is most beneficial if permitted to be the natural way forming. This permits Microeconomics and Macroeconomics to balance and stay secure. This article will discuss the effect of supply and demand centered off the data from the economic computer simulation from class.

Microeconomics

The simulation implemented several Microeconomics and Macroeconomics ideas and concepts in the instructing process to show the little photo and big picture of economics. Below are the concepts of Microeconomics that I focused on during my learning. The simulation included behavioral economics in its educating. Behavioral economics uses a broader set of building blocks than classic economics which will uses rationality and self-interest. Behavioral economics helps clarify why buyers in Atlantis preferred detached homes instead of two room apartments on the fifth 12 months in the ruse. In the ruse Consumers display that a rational decision is a norm for majority of the population but is not the sole factor that Atlantis's housing business is based away. The simulation gave a scenario of a big company building its functions within Atlantis. This move into the city predicted an increase towards the population. The exact property management expert suggested increasing the local rental rates in answer to the maximize of require. It is a Microeconomic factor as it reflects improvements on a small scale which impacts the economics of the greater scale. This is actually the small to significant approach.

Macroeconomics

Macro externalities are relevant in the ruse. One of the cases was that the town council voted to implement a cost ceiling of $1550 within the two bedroom apartments. This was done so households could manage to work and stay in the city. The cause and a result of this decision created fewer supply...



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