Essays on Blaug

APPLICATION OF INDUSTRIAL ENGINEERING IN HEALTHCARE SYSTEMS

Abstract Engineering concepts have been applied in healthcare systems. Particularly, industrial engineering plays a significant role in the maintenance of modern healthcare systems. Medical practitioners and managers should appreciate the significance of employing practical methods in decision-making. The objective of this paper is to tie industrial engineering concepts to healthcare delivery. This involves the application of systems modelling in healthcare management. The paper is divided into sections that cover various aspects of the topic. The human capital model is expressed through an equation. This is then followed by a summary of underlying facts. The compilation is concluded with a ...

What can the first and second theorems of welfare economics teach us about economic policy?

What is economic policy? Economic policy refers to those actions that a government undertakes in order to influence its economy. These Economic actions include regulation of interest rates through Federal Reserve, regulation of the government expenditure, implementing rights of private property, and laving tax rates. Welfare Economics is the method of systematically evaluating economic implications in the alternative resource allocated. Welfare economics deals with weather the sources allocated are efficient and who is going to lose or gain by how much in various allocations (Mark Blaug, 2007).

Fundamental theorems of Welfare Economics

Welfare economics has two fundamental theorems which are as follows: First ...

Introduction

Defining biologically, the reaction of a person in response to his/her environmental condition or towards a stimulus is termed as stress. At work, a person faces stress when there is a mismatch between the resources or capabilities and the demand of the job. However, certain stress at workplaces is normal, but when it exceeds the limit, stress affects a person’s professional life as well as personal life (Jones & Bright, 2001). It reduces the productivity of the employee and often affects the health condition (Jones & Bright, 2001). The paper reflects on the reasons behind stress at the workplace. Then it moves on to evaluate ...

Introduction

Profitability and efficiency are two important aspects for an entity, and an analyst would analyze these two aspects in order to analyze the loopholes of an entity. Financial Statement Analysis (FSA) is an important type of valuation that used by the analysts in order to analyze the level of efficacy of an organization (Blaug & Vane, 2003). FSA is termed as the analysis of the financial statement that usually associated with income statement, balance sheet, cash flow statement and changes in equity. All of these four elements are essential to analyze the main holes of the company. FSA merely used ...

Throughout the world, education is linked with income in the minds of many, particularly as they arm their children for the challenges of life. Getting a college degree is often equated with getting a better job and making more money; this is often the impetus behind pursing higher education for many people in industrialized countries throughout the world. However, is this true? Is there a correlation between the level of education one has and the amount of money they make? The following examines the literature available on the subject to gain an understanding of the pervading wisdom of academic professionals on the ...

Purpose of Research

Given the findings in my literature review, I have concluded that whilst the question of whether higher education leads to a higher income has been asked and studied on a number of occasions, a conclusive result is yet to be published. The indicative findings are that generally, higher education does procure a higher income however; it is still undefined as to the extent of its impact and whether it improves the quality of living for the individuals concerned. For instance, a study carried out by O’Neil (1995) indicates that there is a strong relationship between higher education and higher income which compounds the view held ...

INTRODUCTION

Throughout the world, education is linked with income in the minds of many, particularly as they arm their children for the challenges of life. Getting a college degree is often equated with getting a better job and making more money; this is often the impetus behind pursing higher education for many people in industrialized countries throughout the world. However, is this true? Is there a correlation between the level of education one has and the amount of money they make? The following examines the literature available on the subject to gain an understanding of the pervading wisdom of academic professionals on the ...

Economics:

Economics is the study of how the little available resources can be used to satisfy wants that are many, since wants are many on the other hand resources available to satisfy them are limited in supply, there is need for one to choose among the wants and make a decision of what the few resources to satisfy first leaving the rest. In economics, factor like inflation and deflation, marker prices, interest rates, exchange rates in the market are studied. Economics has been divided into two major subdivision; microeconomics and macroeconomics. The word microeconomics is a combination of two words; micro ...