Easter course

I am care about Easter course, I do not want to absent , and I want to work hard. But I am sorry Mr Chris, I know you want to help us, but I really can not concentrate on what did you said after 9 o clock, so I choose leave which not mean that I don't want to study. I just do not want to cheat you that I am listen to you. So I am sorry but I really can not continue, CAUSE I DO NOT WANT GIVE UP,and if I can keep listen I won't to leave I promise.

And Mr Chris can you teach about Market failure again tomorrow. PLEASE THANKS THANKS THANKS A LOT OF THANKS.....................................

Aggregate demand

Aggregate demand is the total demand for a country's good and services at a given price level and in a given time period.the component of aggregate demand are consumer expenditure(c), investment(I), government spending (G) and net exports,which is exports(x) minus imports(m), the formula of AD is AD= C+I+G+(X-M)
How this formula reflect some information about AD.
1.If consumption goes up, it will effect the investment, because more consumer expenditure need more supply. It is therefore investment will increase. Which means AD will goes up. But high consumption will bring inflation. So the government need control it, for example budget surplus which means taxation greater than government spending. Because if rise the taxation leading to price of goods goes up. People will not to buy more. Use monetary policy, the government can increase the interest rate, because the saving of people will goes up,and drop the investment as well.opposite if consumption goes down.
2.If government spending increase, the unemployment decrease, so more and more people have job, leading to the productivity goes up, more and more products had produced and they can satisfy more and more demand of consumer. Thus AD will increase.
3.X-M is the balance of payment , when the X greater than M is balance of trade surplus, it is means the demand of products produce by england increase lead to the AD goes up as well.
4.When the X less than M which means balance of trade deficit, it is reflect the demand of consumer on domestic goods decrease and the demand of consumer on other countries increase.so the AD decrease.
Conclusion :
How to increase AD :
1)Decrease interest rate.
2)More government spending.
3)A rise in exports
4)A rise in real GDP
How to decrease AD
1)a rise in imports.
2)Increase unemployment
3)Increase interest rate
4)Less investment
5)Less government spending

Use computer in business

Advantages:
reduce cost for plan the function administration
Save time : do not need waste time to allocate the complicated data,now just use computer to save them, therefore, more convenient.
Increase productivity
More convenient to build a communication with other entrepreneur.
Disadvantage
spend money on training: the people who use computer must know how to use computer.
Easy to make mistake.
If the computer is broken they need spend a lot of money to maintenance.

Japanese management

Firstly we need know the function of management:
P Planning
O Organising
C Conmmunication
C Controlling
C Cordination
L Leadership
M Motivation


Japanese management:
The culture of Japanese management so famous in the West is generally limited to Japan's large corporations. These flagships of the Japanese economy provide their workers with excellent salaries and working conditions and secure employment. These companies and their employees are the business elite of Japan. Though not as much for the new generation still a career with such a company is the dream of many young people in Japan, but only a select few attain these jobs. Qualification for employment is limited to the few men and women who graduate from the top thirty colleges and universities in Japan.
What are the characteristics of Japanese management:
Be good at copy and learn
Japanese entrepreneur always copy or learn new skills from other countries.
Reach consensus through compromise.
Every people have their floor in their company. When their boss want to decide something, they can have their own opinion and they must agree with their boss,this decision can be effictive.
encourage in long term.
Because encourage can help their labour feel more confidence, it is therefore they will work hard and can keep the company profitable.
quantity is most important.
5.compete.

痛

I can not forget this experience forever, it is hurt me forever!
IT IS ENOUGH THAT I AM ALIVE!
please cherish life

EF video

If I am student who never come to EF oxford and deciding to study abroad , I will think EF oxford it is a good choice.
Why I am thinking like that?
Firstly this video tell us all the information as a student want to know which are the environment, entertainment, accommodation,travel , main staff and repute of the school. Also the culture, environment ,when is leisure what they can do etc.
All of those information are clearly and positive.and also the man who talk about this it is clearly, people whom English is not very good can understand it as well I think, because the voice of the man is clearly and the speed is slow. The audience may want to keep to watch because of the nice voice with a beautiful music.
But they just interview a student who talk about London, it is important but i do not think people just interested in that, they want to know how is the course, they need interview some student who talk about what are they learn from EF Oxford,not just travel or play.
At the end, I want to say this advertise is very good, even though something not true, but if it a ad, it must be successful.so I think this is a good video.

TQM improve management and profit

Firstly, we should know what is TQM which is total quantity management
is a business management strategy aimed at embedding awareness of quality in all organizational processes. TQM has been widely used in manufacturing, education, call centers, government, and service industries, as well as NASA space and science programs.so it is good for management.
Also the theory of TQM :
1) satisfy demand of consumer, and make them feel good.
2) Add value: use the less cost to achieve maximum value
3) Keep change: foe example, accept new skills or new machineries
It will be help the profit increase , because of above , consumer can receive a good services etc..
What are the benefits of TQM
1) increase the quality of products2)improve the design of products3)increase the production4)encourage the confidence of staff and 5) advance the ASS6) decrease cost7) decrease the deficit8) decrease the accident of resposibility

Budget deficit

http://shuimengqiu.blogspot.com/2009/02/budget-dificit-economic.html

national income

of measures of national income and output are used in economics to estimate total economic activity in a country or region, including Gross Domestic Product (GDP), Gross National Product (GNP), and Net National Income (NNI).
How to increase national income:
We can use this formula, G+I+C+(X-M)
Because increase national income which also can say increase in AD, according to above, we can see:
1. Increase government spending which can reduce the unemployment and encourage some small business
2. Reduce interest rate , because more and more investment will build cause of lower interest rate that they can borrow money easier.
3. Decrease exchange rate , that's means the price of export cheaper, and more countries would like to buy products from this country and the injection will increase.
4. Increase productivity
The affect of national income increase
1) economic growth.
2) Inflation(demand very high)
Living standard increase

balance of trade deficit

Balance of trade deficit
First of all, we should know what is balance of trade, balance of trade is the relationship between imports and exports , and when the exports greater than imports is balance of trade surplus, which is injection exceed leakage, and when exports less than imports is balance of trade deficit which is injection less than leakage.
What may lead to balance of trade deficit ?
1.Exchange rate increase, the value of money goes up , other countries do not want buy products form this country.
2.Demand of domestic products goes down
3.The value of imports goes down
4.The price of domestic products very high
5.The productivity is lower
How we can solve this problem.
1)Increase productivity. For example can use divide the labour or specialization.\
2)Decrease exchange rate.which is decrease interest rate.
3)More government spending
4)Increase tariff
5)Increase the standard of imports.

international trade

International trade is exchange of capital, goods, and services across international borders（分界线） or territories(领土，版图）.
If we do not have international trade , we will become more poor. For example we need imports materials , foods, products etc, such as banana, tea,
Silk, gas. Also like wine,Spacecraft, if we do not have material to make , our production will change to inefficiency, or lower efficiency.international trade good for every countries which are join it.
But free trade also bring some drawback to those countries , for example clothes seller afraid of the clothes ,which are imports, are cheaper , the demand of their clothes will decrease. Also when the customer change their mind to buy Japanese car instead of the domestic car , they producer and seller should worry about the demand of their goods.
Risks in international trade
Economic risks
§ Risk of insolvency(无力偿还的） of the buyer,
§ Risk of protracted default （拖欠债务）- the failure of the buyer to pay the amount due within six months after the due date
§ Risk of non-acceptance（拒绝承兑）
§ Surrendering（放弃） economic sovereignty（最高统治权）
§ Risk of exchange rate
§ Susceptibility（易受影响或损害的状态） to changing standards & regulations within other countries

Political risks
§ Risk of cancellation（取消） or non-renewal(不能重建）l of export or import licenses
§ War risks
§ Risk of expropriation（征收） or confiscation（充公） of the importer's company
§ Risk of the imposition（强加） of an import ban after the shipment（ 从海路、陆路或空运的)一批货物）of the goods
§ Transfer risk - imposition of exchange controls by the importer's country or foreign currency shortages
§ Surrendering political sovereignty
§ Influence of political parties in importer's company
§ Relations with other countries

So some countries not real curry out completely free trade , because they know , there are not only have profit , but also have cost. Thus the government of those countries adopt some way to limited it.
1) tariff , which can limited imports.
2) Quota, limited the quantity of imports
3) manage exchange rate.
4) Imports permit.
5) Refuses , for example drug
Etc
All of those way are help limited trade.

Balance of payment

Balance of payment measures the payments that flow between any individual country and all other countries. It is used to summarize all international economic transactions for that country during a specific time period, usually a year
Balance of payment surplus :money come in more than leave out
Balance of payment deficit:money come in less than money leave out.
Current account:
the current account is one of the two primary components of the balance of payments,another one is capital account. But now I would like talk about current account.
The current account is the difference between a nation's exports of goods and services and its imports of goods and services
Current account surplus:Positive net sales abroad generally contributes to a current account surplus which mean the exports greater than imports, because they sell more, a current account surplus is sell positive net exports.
Current account deficit: negative net sales abroad generally contributes to a current account deficit.which means the exports less than imports , because a current account deficit is sell negative net exports.
How to reduce the current account deficit?
Firstly we need know what current account deficit is, as above we know that current account deficit means exports less than imports, which means injection less than leakage. So the government need increase the exports.
1. Reduce the exchange rate (interest rate decrease)
2. Decrease duties
3. Increase government spending
4. Encourage domestic suppliers
Decrease imports:
1. Quota
2. import restrictions
3. Encourage people buy domestic products
4. Reduce domestic saving
Decrease aggregate demand( monetary and fiscal policy)

Tax

Tax is to impose a financial charge or other levy upon an individual or legal entity by a state or the functional equivalent of a state.
There are two types of tax:
Direct tax : one that taxes the income of people and firms and that cannot be avoid
Indirect tax: a tax levied on goods and services.
Increase/decrease tax:
1.The price of products will increase, which means the cost of produce will rise, so producer will supply less, or increase the price of products, and then the demand of this product will goes down , unless the demand is inelastic , or it is snob good, the demand maybe not change or goes up.
2.lower inflation
3.increase unemployment
4.government budget deficit : government spending greater than tax, which can decrease the unemployment rate.maybe living standard increase , because people can get more subsidies from the government. Also maybe decrease the recession, because more people get job , the productivity will increase, the real GDP will goes up.
5.government budget surplus: which means government spending less than tax,this can help decrease the inflation , because if tax increase, people need afford more money to satisfy their wants,it is therefore people maybe to have opportunity cost or trade off. Etc, so the AD will goes down. Thus high taxation helps decrease inflation.

exchange rate

Exchange rate means the price of one currency in terms of another currency or currencies.
How does a change in the exchange rate influence the economy:
From tutor2u , we can see change in exchange rate effect the demand for exports and imports; real GDP growth, inflation and unemployment .
Exports and imports:if the exchange rate fall in a country,the price of exports also decrease but the value of exports will increase. Opposite, the price of imports will goes up and the value of it will decrease.a rise in the exchange rate, is likely to result in a fall in net exports.
Real GDP growth:(not really understand this, if you know , can you help me ,,thx:))
Inflation: if exchange rate goes up. That means the interest rate goes up as well, so people would like save more money in bank which means the AD decrease, it helps inflation get lower. And also if the exchange rate goes down, which means interest rate decrease, leading to more investment and low save from people, the AD will increase, with this situation, inflation will rise.
Unemployment: as well as inflation, change in exchange rate effect the rate of unemployment , because if exchange rate goes up, may leading to economic growth, and consumption will raise , so the AD will increase , and producer need recruit more labour to improve productivity to satisfy the needs of consumer. So it is helps decrease the unemployment. Exchange rate goes down is the opposite.
Advantages of exchange rate goes up:
1. lower imports price
2. Lower cost for producer
3. Lower inflation
Disadvantages of exchange rate goes up:
1. Increase the trade deficit: if imports goes up , the demand of it will get rise, and for domestic goods , people may prefer imports goods, it because the price of imports good may cheaper than domestic goods. And it may leading to balance f payment deficit. The government need control this.
2. Slower economic growth
3. Low elasticity of demand:In the short term, the effects of exchange rates on export and import demand tends to be low because of low price elasticity of demand
4.Cutting their export prices when selling in overseas markets and therefore accepting lower profit margins to maintain competitiveness and market share

Interest rate

Interest rate
An interest rate is the price a borrower pays for the use of money they do not own, for instance a small company might borrow from a bank to kick start their business, and the return a lender receives for deferring the use of funds, by lending it to the borrower. Interest rates are normally expressed as a percentage rate over the period of one year.
When the economic face to inflation, the government may use monetary policy which may increase the interest rate, because if the government want to deal with inflation, they must be decrease the interest rate. If the interest rate goes up , people want to save money, and expensive to borrow, the investment will goes down. Therefore, lower demand and investment can help inflation.
When the economic face to recession, the government may decrease the interest rate. Because interest rate goes down, people do not want to saving , they prefer spending on some goods. Also investment will goes up. Because easy to borrow.
Why we need interest rate, I think because it can help the government deal with some problem , also it is help bank supportability.
Cause of interest rate:
1 Deferred consumption
2 Inflationary expectations
3 Alternative investments.
4 Risks of investment.
5 Taxes
6 Liquidity preference

Economic growth

Economic growth
Economic growth is best defined as a long-term expansion of the productive potential of the economy.
From tutor2u , I've learn advantage and disadvantage of economic growth:
Advantages of economic growth:
1. Higher Living Standards: e.g if economic growth that means the real GDP per head goes up. So people have more money , they can afford more things, the living standard will increase because of that.
2. Employment effects:Growth stimulates higher employment. Because the demand will increase , the producer need more labour to increase the productivity, employment therefore goes up.
3. Fiscal Dividend:economic growth is good for government finance.boosting tax revenues and providing the government with extra money to finance spending projects
4. The Investment Accelerator Effect:because economic growth leading to rising demand , it encourage people investment on capital machinery, it is help the AS increase.
5. Growth and Business Confidence:because economic growth good for both of them , for example when some good news heard by labour for their work, they think more confidence.and leading to the productivity goes up.
Disadvantages of economic growth
1.Inflation risk:if economic growth very quick, it may lead to inflation, because with economic growth, the demand increase too. The economic therefore face to inflation risks.
2.Environmental concerns:because economic growth lead to higher live standard, therefore some negative externality will appear. For example , live standard goes up , the demand of car will increase , so more and more pollution had create .

inflation

inflation is a rise in the general level of prices of goods and services in an economy over a period
of time. There are two types of inflation

Demand pull inflation:
when aggregate demand in an economy out paces aggregate supply.
some causes of demand pull inflation
l Reduce interest rate
l Decrease taxation(increase employment)
l Government spending increase(lower unemployment)

Cost push inflation
caused by substantial increases in the cost of
important goods or services where no suitable
alternative is available
Short run: wage of labour, for example, with
trade union power increase, the wage may goes
up, because of the wage,
the company need spend more money on labour,
thereforethe cost will increase as well. If the company
want to get profit, they need increase the price, and
price level goes up too.This is a example for cost push
inflation.
Longrun :
Unemployment
Demand pull inflation:
when aggrgate demand in an economy out paces
aggregate supply.
some causes of demand pull inflation
l Reduce interest rate
l Decrease taxation(increase employment)
l Government spending increase(lower unemployment)

Unemployment

Unemployment occurs when a person is available to work and currently seeking work, but the person is without work.
What are the causes of unemployment?
Insufficient demand, because if the demand of goods is lower, the industry do not want recruit more people, also with the demand decrease , the supply will go down, and they do not need more labour because they may do not have enough money to pay the wages to their labour. For example the recession and reduce the inflation.
If a company need new skills for their new technologies, they may want to fire some workers who do not have the new skills.
The products of the company is not attractive to people, and also they do not have finance to produce a new products, they company face to bankrupt. People who work in this company will lose their job.
At a period time , the demand of a products of a company decrease. The company will redundancy .
Etc
From above we can see there are some types of unemployment:
Frictional unemployment
It means between two jobs, like change a job to another job.
Classical unemployment
when real wages for a job are set above the market-clearing level.
Structural unemployment
a mismatch between jobs offered by employers and potential workers..
Cyclical unemployment
when there is not enough aggregate demand in the economy.

supply side policy

Supply side policy is the is the branch of polcies that considers how to improve the Productive
capacity of the economy.
Lower Inflation:because it can make the price level go down , which is the AS shift left,so it can help
the cost push inflation

Lower Unemployment: if supply increase they need more labour.therefore , the company may
want to recruit more people.

Improved economic growth:AS increase , AD increase , leading to economic growth.Improved
trade and Balance of Payments. By making firms more competitive they will be able to export
more. This is important in light of the increased competition from S.E. Asia.

Reducing Taxes.It is argued that lower taxes (income and corporation) increase incentives for
people to work harder, leading to more output.However this is not necessarily true,

lower taxes do not always increase work incentives ( A2 e.g. if income effect outweighs substitution effect)

Increased education and training
Better education can improve labour productivity and increase
AS.Often there is under provision of education in a free market, leading to market failure.
Therefore the govt may need to subsidise suitable schemes.However govt intervention will cost
money, requiring higher taxes, It will take time to have effect and govt may subsidise the wrong
types of training

Reducing the power of Trades UnionsThis should
a) increase efficiency of firms
b) reduce unemployment

Reducing State Welfare Benefits
This may encourage unemployed to take jobs.
Providing better informationmay also help reduce frictional unemployment,and they may do
not want to change their job.
Deregulate financial markets to allow more competition and lower borrowing costs for
consumers and firms.

Monetary policy

Monetary policy is the process by which the government, central bank, or monetary authority

of a country controls (i) the supply of money, (ii) availability of money, and (iii) cost of money

or rate of interest, in order to attain a set of objectives oriented towards the growth and stability of the economy.[1] Monetary theory provides insight into how to craft optimal monetary policy.

Nowadays , the big problem of the world is recession. Because of that, the rate of unemployment increase fast, what should the government do to help recession goes down?

According to the monetary policy, they can change the interest rate. In order to deal with

recession, the government need increase the AD, so they need decrease the interest rate ,

then saving will go down, but it is easy to borrow money, thus , more and more investment

will build. So if demand goes up, investment increase, the company want to recruit people

which is increase their labour force,therefore the unemployment rate will decrease, more

and more people ,who without job or seek job ,can have a job.

Also monetary policy can help decrease inflation. Inflation means the is a rise in the general

level of prices of goods and services in an economy over a period of time. So if the government

want to make inflation rate goes down, the need deal with the price level first. But do not

should decrease the price level directly, the government will increase the interest rate first,

if the interest rate goes up , people will saving more, and the consumption will decrease, so

the AD will decrease, leading to the price level decline. Thus inflation will decrease.
But monetary policy can not deal with unemployment and inflation at the same time,

they are ambivalent, so the government need trade-off .

fiscal policy

In economics, fiscal policy is the use of government spending and revenue collection to influence
the economy.
Fiscal policy have two functions
1.Deal with deflation and inflation.
2.make economic fluctuations are stable
How we can use fiscal policy to deal with those problem?
Deflation is persistent decrease in the general price level of goods and services,which means the
AD is lower, so in order to increase AD, they government will decrease the tax, and increase the
government spending to make AD goes up lead to deal with the deflation.
Inflation is a rise in the general level of prices of goods and services in an economy over a period of
time which means he AD is high,in order to solve inflation, the government will decrease the tax
and decrease the government spending lead to make AD goes down, then inflation will decrease.
Finally. Fiscal policy can make economic is more stable

This is me and Siyi's host family,yes,,it is a same host family...
We live in a small room , but we are happy here, because our host family is really nice.
Look, we are studying hard.I am doing ECONOMIC HOMEWORK,Siyi is doing ECONOMIC HOMWORK
This 'new' curtain that I made it by myself, This is a needlework, I spend 2 hours to finished it.my host mother said , it is beautiful!!!!!!;)
Me and Siyi are good friends, we live together, study together, eating together, she helps me a lot, I help her a lot as well,hehe, but we are friends , we would like this.
A small double room, a small world which belong to me and Siyi. Xixixixixixixiix..........:0

HELP!!!!

MR Chris , I need your help...I want to study,,and work hard,,,, so please help me about my business and economic, I will keep studing hard and try to do my best. Mr Chris can you help me? I want to be better...and become a FANTASTIC student....

My favorite

pay attention to the end of this song




Leehom sings some of his favorite English songs, he's a big fan of classic rock. You Raise Me Up - WestLife Silent Night Piano Man - Billy Joel Imagine - John Lennon Last Christmas I Just Calle...





I will speak english as fluently as him,,,,leehom leehom!!!!!!!!


LEEHOM ,LOVE YOU FOREVER!!!!!

miracle

Fantastic! Could you believe that all the performers can neither hear nor speak? It was performed on the Chinese New Year's Eve(Spring Festival) in 2005

Pre- Fab Designer Tree houses

http://www.danielswoodland.com/theming/themed_environments/index.php
Advantages:
Novelty
Attractive to children
Quickly to build
Variations on a Theme :different types of theme

Disadvantages:
High price
It need a spacial location
Because it made by wood, it is easy to break
Not easy to protect , for example bad weather can effect it .
Not easy to find material, it must need high quality wood.
Heavy
fire

videos

If you do not laugh , I will give you 10 pounds.....



crazy dance,but so funny



this part called "Janpanese learnning english"

What should I do during Easter holiday?

What should I do in Easter holiday?
My plan is :
①　Read all of the economic text book
②　Read business book
③　Do some exercise of Math
④　Read ICT book
⑤　DAILY BLOG
⑥　Try to read news on BBC
⑦　 Eat Chinese food
⑧　 Play with my friends
⑨　Listen to music
⑩　Maybe cook;)
11　Maybe go to my aunt's house
12　Extra
I will try my best ....

What is the cause of economic growth

What's the cause of Economic growth?there are two factors.
1. The quantity of factor of production increase. Factor of production including the increase in
labour or increase in the average work time of each worker , the material goes up and raise the
capital.The productivity of factor of production goes up.
2. The productivity of factor of production it's increase including the skill of labour goes up,
because of effective management the organization goes up and productivity of equipment of the
capital get strong. Especially the important thing is the skills improve

why2

Why fix the road in oxford is inefficiency?
I asked this question because of I noticed the road which is London road , it started to fix from last
year maybe June, but still haven's finish.
I think this because of some reason which are :
1. Because of the weather of Oxford ischangeable,workers can not do something when the weather
is rainy. That's means the weather effect the efficiency.
2. Because of the weather too, they must have some special resources to fix the road, like some
stone can avoid the rainy. But it need a long time to make sure the quantity of the road.
3. The wage for the workers are high, because of there are narrow range of people can do this job,
it need aprofessional skills , there aren't a lot of people can do that, so the government may spend
more and recruit people ,but just a few. Because they do not have a lot of people to do that, how
can improve efficiency on it?
4. Also because it is a main road in Oxford, so the traffic is busy, it must effect the efficiency.

why?

When I ate McDonald's in city centre yesterday, I saw a starbucks across form McDonald's.
Then I was thinking about why we always say "meet in front of McDonald's"and not say "
meet in front of starbucks"
I think because of:

The brand of McDonald's invent earlier than starbucks, it more famous than starbucks

Even though both of them are international brand, but starbucks is a luxury goods I think, sometimes people can not afford,and for Mc it is a normal good , people can afford it easy.

The quantity of Mc more than Starbucks, you can see MC everywhere , but starbuck not.

The advertisement for MC it is more popular than Starbucks.

And the design of the sign,I think the color of MC more attractive than Starbucks.

All of the reasons that's why I think people would like to say meet in front of MC.