The assessment strategy is designed to provide students with the opportunity to demonstrate their knowledge and understanding of the key concepts and theories introduced in the module, and their ability to apply them in a contemporary global context. Though oftentimes harder to measure, experts said things like respect, work-life balance and family are increasingly becoming economic issues that cause disproportionate suffering for middle-class Americans. The definition of middle class varies widely among economists based on a handful of factors. Its supporters seem to claim it will solve many of our economic problems. Campaign signs for 2020 Democratic presidential candidates stand in snow outside a home in Des Moines, Iowa, Jan. 30, 2020. A 2018 report from the Brookings Institute found that over the past few decades “there have been troubling indications that dynamism and competition in the U.S. economy have declined.” It found that in the airline sector, the top four first served 43% of the market in 1985, but that share had risen to 72% by 2017 due to decades of industry consolidation. Primary Menu. With 2020 more than halfway over, there are countless challenges that social workers are currently facing. There will be a clear emphasis on the development of higher level capabilities such as critical thinking in order to facilitate independent learning going forward. Market failure will be discussed and applied to contemporary issues in context. Contemporary examples will be utilised and the current pressures of operations within small enterprises and national economies will be explored. These changes include the implementation of a hybrid teaching approach during 2020/21. On Thursday, the PSA announced that the country’s gross domestic product (GDP) growth rate declined by 16.5% in the second quarter of 2020, which was the lowest recorded quarterly growth since 1981. “Income growth of the middle class has been slower than for both those above and below them,” Richard Reeves, a senior fellow at the Brookings Institute and the director of its Future of the Middle Class Initiative, told ABC News. It’s really a series of propositions about fiscal policy.” The focus will be on resource allocation and the extent to which the disciplines of economics and business studies can analyse, explain and influence consumer behaviour, paying particular attention to research into factors which influence it. They move the focus of attention and challenge received wisdom. "So I think we need to strengthen work and the wages that they get.". Sudden policy changes or other unexpected economic circumstance changes "could land all the harder on households with no emergency [financial] cushion," he added. Climate Change. Scaffolding will be introduced through writing activities in seminars enabling them to integrate and critically analyse material from different sources. We are honored to invite you to take active part in the 6th International Scientific Conference on Contemporary Issues in Economics, Business and Management (EBM 2020), which will be held at the Faculty of Economics, University of Kragujevac, Republic of Serbia, … This volume contains chapters on a range of topics which include economic methodology in macroeconomics, central bank independence, policy signalling, public policy as second best analysis, the determinants of economic growth, a continuum approach to … "It is quite clear that the growth in household income in the middle has been slow, slower than in the past, and slower than other groups in society," he said. Deadly wildfires including those affecting Australia, hurricanes, extreme weather events, and climate-influenced migration and hunger in many parts of the world are now regular occurrences. In Modern Economic Issues, Professor Robert Whaples has crafted a course designed to answer just these sorts of questions—a primer in 21st-century economics for the non-economist. We would like to inform you that due to the current situation related to the COVID-19 pandemic, we have decided to postpone the date of the 6th International Scientific Conference on Contemporary Issues in Economics, Business and Management (EBM 2020), organized by the Faculty of Economics, University of Kragujevаc, Republic of Serbia to 14-15 December, 2020. • Basic functions of organisations And with the financial unease that many people say they are feeling, these issues might have an impact on how they decide to vote. "Also, if the markets were more competitive, the whole economy would be more dynamic," he argued. • Three individual blogs Home; Breaking News; Economic Theory; Contemporary Economic Issues ", Ultimately, Reeves said, "that sort of middle-class angst and middle-class pain are reflective of all of those factors. Due to these challenging times, it was an online event but it still brought together many domestic and international researchers to exchange ideas and discuss problems of mutual interest. "They shouldn't be left off the table just because they are difficult to measure. The first two months of 2020 saw the outbreak of COVID-19 virus in China, a clash between the US and Iran in the Persian Gulf, and further devastating bushfires and floods in Australia.As COVID-19 has spread, business disruption and financial market dislocation have followed contagion, prompting a rash of economic forecast downgrades. N/A, Indicative content includes: A lack of savings and living paycheck-to-paycheck is also an issue as Americans are currently living longer than ever, and may face outliving their retirement funds or "face additional shortfalls if their investment returns fall short," Earle said. A guide to the experiences of economic reform since the second World War, and system reform and economic integration across the world in the past decade. Facts, resources and information on major public health issues for public health professionals, local authorities and CCG commissioners. The learning and teaching methods include: The U.S. is experiencing one of the longest-running bull markets in its history, yet 40% of Americans recently said that they couldn't cover an unexpected $400 expense. That means the vast majority of Americans have no significant savings to speak of to guard against a rainy day. Households. He added that "family is an economic issue as well as a social issue," because "when people feel their wages are higher and likely to rise, they are more likely to have stable families.". In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. The 4th Contemporary Issues in Economy & Technology – CIET 2020 conference was held on 29 May 2020. The learning and teaching strategy is designed to equip students with the knowledge and ability to analyse and apply business and economic theories and concepts in real world contexts. In addition, 20% of adults in the U.S. reported having major, unexpected medical bills to pay in 2018. The open note exam is intended to give students the chance to demonstrate their independent thinking skills. This record contains information for the most up to date version of the programme / module for the 2020/1 academic year. • Market failure The labor union UNITE HERE holds a rally for American Airlines food caterers to demand health care for the workers at Terminal 8 at JFK Airport in New York, Nov. 26, 2019. He first presents the results of a survey of professional economists around the country on what they consider today's most urgent economic issues—the ones all of us most need to understand. If you feel like you're running yourself ragged but aren't making headway, you're not alone. Armed protests being planned at all 50 state capitols, FBI bulletin says, Trump warned about potential civil liability, as some aides clear out desks, US Capitol riots: Tracking the insurrection, House set to charge Trump with ‘incitement of insurrection’. Free Enterprise Warrior. Formative assessment will be in the form of verbal and written responses to the student blogs, which will be written as critical reflections on source material throughout the module. Moreover, approximately a third of those people living paycheck-to-paycheck are categorized as in the middle class based on their income levels, and about 75% of them are in debt. Outsourcing: As offshore and outsourced businesses continue growing, America’s economic landscape will continue its shift as once-rewarding factory jobs go where wages are lower and regulations are simpler. There will be a particular focus on developing and honing the ability to write for different audiences (self-reflection with the individual blogs and an article for a lay person, offering the opportunity to demonstrate understanding of complex concepts and theories). But its detractors see it as just another simplistic economic theory with plenty of problems. "U.S. markets have become less competitive," Philippon told ABC News. Real wages at the top 90th percentile, however, increased by approximately 38% during that same time. An attendee holds up a sign that reads "Jobs! September 2020 [Standard - Contemporary Macroeconomics Issues] May 2020 [Standard - Contemporary Macroeconomics Issues] January 2020 [Standard] September 2019 [Standard] May 2019 [Standard] January 2019 [Standard] September 2018 [Standard] May 2018 [Standard] January 2018 [Standard] September 2017 [Standard] May 2017 [Standard] Subject dates • Seminars (2 hours per week) • Independent study. 1982-2020: Scope: First published in 1982 as Contemporary Policy Issues, Contemporary Economic Policy publishes scholarly economic research and analysis on issues of vital concern to economists, government, business, and other decision makers. Detailed information on all changes is available at: https://www.surrey.ac.uk/coronavirus/course-changes. • One open note examination "We’ve seen the economy grow greatly. ", "The U.S. used to be a place where access to internet was very cheap. during a campaign rally for President Donald Trump in Des Moines, Iowa, Jan. 30, 2020. couldn't cover an unexpected $400 expense, MORE: As income inequality soars, languishing labor unions make a return, MORE: Number of billionaires grew by nearly 40% over past 5 years, Report on the Economic Well-Being of U.S. By completing online registration, you acknowledge that you have read such content, and accept all such changes. As a result, the economic forecasts for Armenia in 2020 worsened. Here it is roughly defined as the middle 60% of households based on income in order to be as inclusive as possible. Working-class and middle-class families "sometimes feel they are looked down upon by policymakers and the coastal elite," Reeves added, noting that the there is a sentiment that the "almost-automatic respect" paid them is gone and "now that the attention is paid to people at the top.". They’ll deal with issues in wildly differing ways. The COVID-19 pandemic has triggered a historic economic downturn leaving millions unemployed, and Black Lives Matter protests have reignited discussions about systemic racism, inequality as well as police reform. "That's not a coincidence.". These problems affect the entire world and have become more pronounced since the beginning of the 21st century. State legislatures will have a lot on their plates. Around [the year] 2000 it was one of the cheapest places in the world among advanced economies," he said. However, the Armenian government is more optimistic in its prediction of a decline in GDP of 2%. ... We’re still not seeing a full recovery in terms of wages and living standards.”, “Most American families get their income from work," she added. For most middle-class families without high-return investment accounts or trust funds to rely on, their main source of income are their jobs. Economic issues facing the world economy, as well as regions and countries, include prospects for growth, inflation, energy and the environment, inequality, labor issues, emerging markets, and the impact of new technologies. "Many families are still feeling the after-effects of the Great Recession," Gould told ABC News, referencing the downturn following the 2008 financial crash. "These issues around respect and relationships are also hugely important," Reeves said, even if these issues aren't easy to calculate in economic terms. contemporary issues in business, management and economics Module code: MAN0001 In light of the Covid-19 pandemic, and in a departure from previous academic years and previously published information, the University has had to change the delivery (and in some cases the content) of its programmes, together with certain University services and facilities for the academic year 2020/21. The UK is home to an ageing population. Moreover, middle class Americans are paying a greater percentage of their earnings than ever before for health care, according to a report by The Commonwealth Fund, which said that rising premium and deductibles contributions have outstripped wage growth over the past decade. Jobs! "Increasing cost of health care and concerns of health care and access to affordable health care can cause anxiety and issue whether you use it or not," Reeves told ABC News. The book focuses on the structural changes that are rapidly transforming the regional economic landscape in the 21st century. ECON 1000 - Contemporary Economic Issues Exams/Quizzes (and Answer Keys) from previous semesters: Fall 2020 - Section 26: Quiz 1 ("Foundations of Economics" and "Fundamental Economic Questions and Gains from Specialization"): quiz; key. A closed network of fairs, gallery shows, and exhibitions has become so crucial to developing and exposing talent at the top of the contemporary art … This feedback will enable students to explore critically their own interpretation of data, concepts and theories and to hone their verbal and writing skills so that they can present a piece of written work with different audiences in mind. Indeed, our entire ecosystem is at risk: 1 million animal and … The figures are similar for transportation and health care costs in the U.S. compared to Europe, Philippon said. "The issue of time is almost like the other side of the coin from the issue of wages and income: if you can only get a decent income if you put a huge amount of hours in.". https://readinglists.surrey.ac.ukUpon accessing the reading list, please search for the module using the module code: MAN0001. "Having insurance or health care is important to your mental quality of life, whether you use it or not.". Latest News: Get all the latest India news, ipo, bse, business news, commodity, sensex nifty, politics news with ease and comfort any time anywhere only on Moneycontrol. This will usually be after the initial publication of the teaching timetable for the relevant semester. The practice of flipped learning will be introduced in the module enabling seminar time particularly to be used as a vehicle for critical analysis and interpretation around the topics explored. In fact, Governor Lowe said, “there’s actually not much monetary, not much modern and not much theory in it. According to the report’s data, overall median real-wages increased approximately 6% between 1979 and 2018. "Americans were treated to a sort of controlled experiment in the implications of this when the government shutdown caught hundreds of thousands of government employees -- many of whom are among those who live paycheck to paycheck -- flatfooted," Earle told ABC News via email. A 2019 Congressional Research Service report found that inflation-adjusted wages “stagnated or fell” for those in the middle and bottom income percentiles between 1979 and 2018, while they rose for those at the top of the distribution. Contemporary Economic Issues Many of these are not stand-alone issues but are complex threads in the fabric of the world’s economy. Turn on desktop notifications for breaking stories about interest? 1 cause of personal bankruptcy among Americans, according to a 2019 study from the American Journal of Public Health. "Time is the ultimate currency of economics," Reeves, of the Brookings Institute, told ABC News. For many, this means having to increase the number of hours worked, he added. • Consumer behaviour and the factors which influence it Formative assessment and feedback Healthcare costs can disproportionately impact the lives of middle class Americans because they generally don't have a Medicare safety net or are able to afford concierge health services like the wealthy. It will enable them to better understand consumer behaviour and to illustrate the impact of decision-making at consumer and organisational levels. A total of 196 countries agreed on a coordinated plan of action to tackle global heating at the 21st annual meeting of Conference of Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) held in Paris in 2015. • One 1,000 word article drawn from student blogs The Sustainable Development Goals are a call for action by all countries – poor, rich and middle-income – to promote prosperity while protecting the planet. If wages stagnate or don't keep up with the cost of living, middle-class families generally feel the impacts hard. "In terms of quality of life, health is obviously huge and important," Reeves said. It wasn’t to be. "There’s a version of having to run harder to stand still for the middle class.”. • Business successes and failures and the contributory factors in either case “Income growth of the middle class has been slower than for both those above and below them,” Richard Reeves, a senior fellow at the Brookings Institute and the director of its Future of the Middle Class Initiative, told ABC News. Philippon ties the decline in market competition to an increase in lobbying. 11 th INTERNATIONAL CONFERENCE ON APPLIED ECONOMICS CONTEMPORARY ISSUES IN ECONOMY Toruń, 17-18 czerwca 2021 r. Instytut Badań Gospodarczych Polskie Towarzystwo Ekonomiczne Oddział w Toruniu Wydział Nauk Ekonomicznych, Uniwersytet Warmińsko Mazurski w Olsztynie oraz Brno University of Technology (Czechy) In light of the Covid-19 pandemic, and in a departure from previous academic years and previously published information, the University has had to change the delivery (and in some cases the content) of its programmes, together with certain University services and facilities for the academic year 2020/21. "There would be more hiring, which would also bring up the wage.". Even as the White House boasts about creating the strongest economy in decades -- with record-low unemployment rates and financial markets reaching new highs -- many middle class Americans say they feel left behind or find that they are “having to run harder to stand still.”. If wages stagnate or don't keep up with the cost of living, middle-class families generally feel the impacts hard. Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. ", "If you think about things that have changed drastically in the past 20 years in the U.S., the amount of lobbying and campaign spending and the fact that we have a decreasing competition," he said. Examples of contemporary issues include economic crises, income inequality and climate change. This webpage sets out information relating to general University changes, and will also direct you to consider additional specific information relating to your chosen programme. The president discusses the state of the U.S. economy in his State of the Union, saying the unemployment rate is the lowest in half a century. Key concepts and approaches will be explored through high profile and newsworthy examples of business successes and failures. "Since around 1980, the household incomes of that middle-class group has grown by 40%, as opposed to about double that for those above and below.”. • Description of business and economics as disciplines and their capacity to contribute to analyses of socio-economic patterns of behaviour According to the latest statistics … Free Enterprise Warrior. For many, it might feel like there are still more concerns to come. Rethinking retirement. December 12, 2020 marked five years since the signing of the historic Paris Climate Agreement, or the Paris Accord. "If you want to get a sense of what that means, my estimate is that if you could turn the clock back to 2000, if you could return the market to the degree of competition we had 20 years ago, you would essentially increase the income of the median family by about $5,000 a year. There will be an opportunity to complete a trial blog so that feedback and advice can be given before embarking on the assessed work (Week 3). The volume dispels the notion that these are largely unrelated issues and illustrates the merger process which is taking place between hitherto rather separate economic sub-disciplines. In fact, medical bills are the No. Households. Prior to registering online, you must read this general information and all relevant additional programme specific information. Leading western scholars, including three Nobel laureates, are among CEP's authors. "The political economy of the middle class is not just about jobs and wages, it's also about communities and families and respect," he said. • Global context and trends in business and economic thinking. contemporary issues in economics - 2020/1 Module code: ECO1016 In light of the Covid-19 pandemic, and in a departure from previous academic years and previously published information, the University has had to change the delivery (and in some cases the content) of its programmes, together with certain University services and facilities for the academic year 2020/21. Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. The first part of the book examines why only a small number of developing countries have succeeded in their modernization attempts this century. The book is a key reading which provides a comprehensive and systematic overview of the contemporary Asian economy. While these issues impacting the middle class may be seen as social, they are often tied to economic status. Global warming, the growing strength of storms, and overdeveloping our natural lands are key areas that are contemporary issues for today's young generation, according to the World Economic Forum Global Shapers Survey.Regarding climate change, advocates see the need to battle against the tide of climate change and its overall impact on society. Healthcare is routinely at the top of the list of voters' concerns and for good reason. An initiative of Job Creation Institute. The costs are so high that 25% of Americans say they "skipped necessary medical care" in 2018 because they were unable to afford the cost, according to the Federal Reserve's most recent Report on the Economic Well-Being of U.S. Seminars will be used to provide tutor and peer feedback on approaches taken and conclusions drawn. If the address matches an existing account you will receive an email with instructions to retrieve your username "Since around 1980, the household in… Thomas Philippon, a professor of finance at New York University's Stern School of Business, said the illusion of free markets and the hidden costs that the middle class picks up as a result cost the median American family approximately $5,000 a year. According to the European Bank for Reconstruction and Development, the economy of Armenia will contract by about 3.5% in 2020 as a result of global uncertainty and falling demand. ", 24/7 coverage of breaking news and live events. In addition to stagnating wages, depleted savings and soaring health care costs, some experts say issues with free markets disproportionately impact the middle class. Jobs!" "Today, it is one of the most expensive, it is more than twice most countries in Europe.". The slow growth in wages is the single biggest economic issue hampering middle-class families, according to Elise Gould, a senior economist at the left-leaning think tank the Economic Policy Institute. There will be an introduction to the dynamics of the competitive market and the socio-economic influences which operate at both micro and macro level. • Competitive markets The Philippines has recorded the worst economic growth since the recession in 1981, according to the data released by Philippine Statistics Authority. The following is a list of the most cited articles based on citations published in the last three years, according to CrossRef. "Work-life balance is not really so much an issue for the people at the top, although they complain about it a lot," Reeves said, noting that they can afford the childcare and other expenses. • Lectures (1 hour per week) At the same rate that U.S. markets are becoming less competitive, Philippon said there has been a surge in companies "financing political campaigns. ABC News Photo Illustration, Getty Images, 5 economic issues facing the middle class ahead of the 2020 elections. Almost 80% of Americans now live paycheck to paycheck, meaning they have no significant savings, according to Peter C. Earle, an economic researcher at the independent think tank the American Institute for Economic Research. Module cap (Maximum number of students): As the 2020 presidential election kicks up into high gear, here are what experts point to as some of the top economic issues that middle class families in America currently face. Ice caps are melting, sea levels are rising, and the very survival of island nations is being threatened. Thus, the summative assessment for this module consists of: CONTEMPORARY ISSUES IN BUSINESS, MANAGEMENT AND ECONOMICS, https://www.surrey.ac.uk/coronavirus/course-changes, Business Management With Foundation Year BSc (Hons), Business Management (Marketing) With Foundation Year BSc (Hons), Business Management (HRM) With Foundation Year BSc (Hons), Accounting and Finance With Foundation Year BSc (Hons), Business Management (Entrepreneurship) With Foundation Year BSc (Hons), International Business Management with Foundation Year BSc (Hons), International Event Management with Foundation Year BSc (Hons), International Hospitality Management with Foundation Year BSc (Hons), International Tourism Management with Foundation Year BSc (Hons), Business Economics with Foundation Year BSc (Hons), Economics and Finance With Foundation Year BSc (Hons), Business and Retail Management with Foundation Year BSc (Hons), Economics With Foundation Year BSc (Hons), International Hospitality and Tourism Management with Foundation Year BSc (Hons), 1,000 word article drawn from blogs (Week 12), Demonstrate knowledge and understanding of key economics and business concepts and theories, Demonstrate knowledge and understanding of the essential functions within organisations, Analyse critically the way organisations operate and the impact of wider contextual issues, Apply numerical and non-numerical techniques to appraise economic policy and business strategy and decision-making, Identify links between this content and other components of the course, A weighted aggregate mark of 50% is required to pass the module, Develop awareness of key concepts and theories in business and economics and facilitate their application to real world examples, Provide a clear and comprehensive understanding of the functions within organisations and the impact of their execution, Present a clear depiction of contemporary business and economic contexts and illustrate associated pressures on national economies and organisations. 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