Economics Essay Example | Topics and Well Written Essays - 750 words - 1

Economics - Essay Example Here the word economy stands for the national, industrial and firm level economy. But in practical sense it explains our day-to-day individual activities as well. Such activities may run from the way we compete our daily grocery to our evening coffee at a coffee shop. The major distinguishing factor between an economist and a non-economist is that, they have different perspective to see an event that can be as ordinary as picking some flower from the nearby market. This difference in view comes from the analytical economic forecasting that the subject teaches us to become a more rational human being. This forecasting can be made a lot complex if we consider forecasting through statistical data analysis and that might be a whole lot harder to explain to a non-economist. Therefore the present article emphasizes on economic logics that helps us analyse a situation and determine the right time to take an action that might be related with economics. Analytical economic forecasting follows a chain of events that it tries to sew with one another to get to the optimum decision destination. It starts with considering the focused event and ancillary events that are present around that; furthermore it tries to grasp the future events that might follow through in short or long run. Before moving into details it should be kept in mind that economics is a social science and any event in society that is substantially important to influence the surrounding will have an impact on the economy. Let us now analyse what sort of impact a rise in crude oil price might have on the economy from an economist point of view. To a non economist rise in crude oil price will definitely knock his head considering the higher price that he might have to pay now for gasoline; the fuel his car run on. However the wrinkles on his forehead and the anger that lays dormant deep into his heart will be multi fold if he considers the spiral of events that will follow suit a rise in crude oil price. Crud e oil is the prime form of energy in America so a price rise will result in rise in price of energy, domestic and industrial alike. Several industries nation wide (if we restrict our views beyond the national boundary) uses crude oil or its refined form diesel, petrol or gasoline as raw material; a rise in the price of the same will definitely raise the price of those related products. What would be the effect on household? A simple example can be, perishable and non-perishable goods reach our market through goods vehicle that run on crude oil related products. A rise in the price of crude oil will make logistic costlier. This will reflect in higher price for the related goods such as vegetables, meats, milks and etc. Eventually this cost will have to be borne by the consumers, as the producers are always in look out to shift this extra cost burden to the consumers. This is the initiation of inflation spiral where rise in price for a product results in rise in price for other produc ts and eventually within the economy a price related anarchy breaks down that seldom get tamed unless intervened by the government or the market force that is demand and supply interact with optimum speed to settle at a new equilibrium (Crane). The government might set a ceiling on price, or use subsidy. Whether in a free market mechanism the higher price might result in lower demand and greater supply and eventual settlement of price at a manageable level. A non-economist almost always overlooks the inflation spiral that might initiate within the economy from a single and simple event. It is also true that analytical economic forecasting not always provides

Critquing the movie Mahhattan by Woody Allen Thesis

Critquing the movie Mahhattan by Woody Allen - Thesis Example The bustling of the city exemplifies the same intensity and restlessness of the people that flock its streets. Woody Allen’s ‘Manhattan’ is not a romantic comedy, it is not a drama or a theme film, it is by the very epitome a homage to New York City. Anyone who would watch this film would begin to realize by the first ten seconds that what you are watching is not limited to a peek at the lives of New Yorker’s because you realize by the very beginning that the main character is the city and the characters are just breathing in the very life of the Big Apple. It is easy to fathom that the film, as written and directed by Woody Allen, contemplated of Manhattan through his perspective and idealization. Seen through the eyes of twice divorced 42-year-old Isaac Davies, it is imperative that Allen categorically played himself and the natural register of many of the character’s quirks are his own. At the outset, Isaac was not a complex character because he was above all adjectives deeply neurotic. But this was not far removed from all the other characters of the film. They just mostly vary in degree but all of them are destructive and broken and easily subjects of Freudian psychoanalysis that one could figure them out it in a matter of moments. His ex-wife narrowed him down in her book by saying that â€Å"He was given to fits of rage, Jewish male paranoia, male chauvinism, self-righteous misanthropy and nihilistic moods of despair† (Manhattan). But this of course would be a delineation and reduction of the entirety of a human being which is impossible and derogatory. The same must be taken in the context that the book that she wrote titled ‘Marriage, Divorce and Selfhood’ was her subjective attempt to encapsulate their relationship most geared to her advantage and led to his infamy. This book was mostly the cause of his neurosis as portrayed in the film a nd perhaps his wariness in the beginning of the film was most justified