Thursday, April 20, 2017

Woman Have Children Later Due to Career

Gwennette Ross
A1/B1 Econ
Mrs. Staub
April 10th, 2017


Woman Have Children Later Due to Career


What does almost every woman have in common? As young children, we wanted or received baby dolls, often playing a mother roll was the dream for the future. What we didn’t know is the importance of money, and how we needed it to support a child. Now and days women are faced with difficult situations where if they are afraid to have children when first starting their career,then they would either have to have children before or after. The common struggle when you are trying to live and all American life but all that happens is the constant outflow from bills, rent or student loans and assuming they have graduated, now it's off to finding their dream job. With all that to think about more and more women choose to have babies after having their jobs.

Getting paid to spend those precious first months with your new arrival would be ideal, but only 39% of full-time American workers have access to paid family leave. Looking at the chat on the left you can see all the different countries that are being compared. They are assuming that are two parents so in the Unites State the average unpaid leave is 24 full weeks and that is a lot. Numbers like this makes women want to wait because they would like to have the thought of inflow while they are still spending time that they can with their new norms.


Why having kids later is a really big deal by Ellie Kincaid simply mentioned age. More and more women are waiting increasing the risk of  having children just because they aren’t able to balance both a job and a family. The chart above on the right shows the average first-time mothers has increased  3.3 years by 1980. Along with women's ages Ellie also says, ‘“If a woman has to choose between pursuing her career and starting a family rather than doing both at the same time, putting off having kids becomes more likely, in other words.’ ‘Age-related decline in fertility and the increased likelihood of miscarriages and pregnancy complications with age mean that waiting to have kids can put extra physical stress on a woman’s body and her baby’s — not a negligible effect.”’

When there are more and more women waiting to have children , the total factor productivity produced by these women, starting their jobs can increase growth in the long run. When they are fresh out of college and found a job they are already are going to know the new technologies and methods that are out there. They are normally going to be better equipped when they first get out of school rather than waiting because technology is increasingly updating often.





Work Cited

  1. https://www.nerdwallet.com/blog/health/maternity-and-paternity-leave-a-guide-for-expectant-parents/

Driverless Cars May Give The Economy Quite a Bump

Driverless Cars May Give The Economy Quite a Bump

Written By: Mikey Kirkbride

The future is upon us ladies and gentlemen. The testing of Autonomous Vehicles (AV’s) has started. It seems most major car manufacturers have begun the testing, even google is getting in on the fun. Some states have even started the licensing process for these vehicles, such as; California, Florida, and Nevada. Experts are also predicting that these cars will have a massive impact on the automotive industry by the year 2020. The real question is what kind of impact will it have on the economy, it may be more than just the initial revenue from the car sales. These cars are going to save the consumers a lot of money. A lot of this will be part of the fact that these cars will reduce a lot of the car accidents that happen. 40% of all fatal crashes are caused by either drugs, alcohol, or fatigue. This are all part of the human factor of driving. Take that away and there is an immediate reduction in accidents. The cars computer can’t be under the influence of drugs or alcohol, and it can’t get tired. Also up to 90% of crashes are the result of human error rather than equipment malfunction of the car, so taking the human aspect out of driving will not only save lives, but also save money. A highly conservative estimate at 10% of the market being AV’s estimates 1,100 lives saved annually, 211,000 fewer crashes annually, and 5.5 billion dollars in economic savings. These cars are also able to better sense the movement of surrounding vehicles, leading to more efficient driving and braking, which will increase the fuel economy of these cars leading consumers to save more money in gas.

This graph shows several different scenarios of possible living conditions in the U.S. in for the future, and how autonomous cars will save the consumers money. Even in the bear case autonomous cars will save people almost one trillion dollars. That number is absurd. Even though it will still be a little while before these cars hit the market, and there will almost surely be a substantial transition period, these cars seem to be a no brainer for the economy.  
Works Cited
"Morgan Stanley — the Economic Benefits of Driverless Cars." RobotEnomics. N.p., 07 Dec. 2015. Web. 18 Apr. 2017.

Schiller, Ben. "Driverless Cars Sound Awesome, But The Actual Economic Impact Is Going To Blow Your Mind." Fast Company. Fast Company, 30 Oct. 2013. Web. 18 Apr. 2017.

The Corners of Brookfield

The Corners of Brookfield
By: Carly Van Altena

Recently Von Maur, a department store based out of Iowa, opened up in The Corners of Brookfield, last Saturday, April 8th. The Corners of Brookfield is a “lifestyle center” that will have stores, many new restaurants, such as Belaire’s Cantina, a Sendik's and apartments above all of the stores. This retail center will have a large economic impact on the Brookfield community, as well as the other malls and shopping centers around it. Whether this impact will be positive or negative is up for debate; some believe that it will boost the economy around it, while others believe that it was an unnecessary addition and will only divert business from the local mall, Brookfield Square. It is clear that the city decided that the opportunity cost of building The Corners was better than the money and time it would take to build it.


The picture above shows the plans for The Corners. It is going to feature a green space and Von Maur in the center, with surrounding retail shops and restaurants, and above those shops and restaurants will be over 200 apartments, there will also be a parking garage below The Corners to help with space and weather.
The Corners of Brookfield is projected to have many positive impacts on Brookfield’s economy as well as the area around it. It is going to have stores and restaurants that have a mix of local and national popularity, for example the much talked about Von Maur. Ideally, this will reach a more diverse customer base and will therefore draw in new business to the city. Subsequently, The Corners will have positive externalities on the surrounding businesses, because of the customers it will draw to the city. Additionally, the construction of The Corners generated more than 1,100 permanent new retail jobs and more than 300 temporary construction jobs. The lifestyle centers has a lot of growth opportunities, and an attractive outdoor area that accommodates all of Wisconsin’s seasons.With it’s versatility and job outlook it is easy to understand why the project has been so seen to be so popular for the area.
Though there is a positive outlook for the economy due to the addition of The Corners, there are also some concerns about the negative externalities The Corners could bring to the surrounding retailers and community. The Corners has the potential to take revenue and customers away from local retail shops and could therefore cause the malls and shopping centers lose tenants. With so many new customers being drawn to The Corners, the other retailers are bound to lose out on business and therefore will suffer, so that brings many people to question why the need for a new building when it is hard enough to keep retailers in business as it is.
The Corners of Brookfield has been a project that the city has been working on for years, and now that it is finally open there are a lot of economic factors to consider that went into the decision to build this lifestyle center. The abundance of new tenants that will be moving into the open stores, restaurants and apartments provide a lot of great job opportunities and will boost the economy in Brookfield. Additionally, the project alone created numerous jobs for construction workers and retailers. Though there are some negative impacts The Corners will have on the surrounding businesses, overall The Corners stand to do more good for the community than they will do harm, which is why the city deemed the opportunity cost of creating The Corners higher than that of the cost and potential negative externalities on the surrounding retailers.

Works Cited:
Gores, Paul. "The Corners of Brookfield Enters Dynamic Retail Environment." Milwaukee Journal Sentinel. N.p., 09 Apr. 2017. Web. 18 Apr. 2017. <http://www.jsonline.com/story/money/business/2017/04/09/corners-brookfield-enters-dynamic-retail-environment/100184312/>.
Lawder, Melanie. "Inside Look: The Corners of Brookfield Takes Shape." Bizjournals.com. 2017 American City Business Journals, 29 Oct. 2016. Web. 18 Apr. 2017. <http://www.bizjournals.com/milwaukee/news/2016/10/29/inside-look-the-corners-of-brookfield-takes-shape.html>.
Staff Writer. "Commercial Real Estate Property News for Chicago and the Midwest."REJournals.com. REJournals, 17 Mar. 2015. Web. 18 Apr. 2017. <http://www.rejournals.com/2015/03/17/progress-under-way-at-the-corners-of-brookfield-wisconsins-70-rsf-premier-lifestyle-center/>.







Movie Theatres: Why the Budget Breaker?

Movie Theaters: Why the Budget Breaker?
Jena Hicks

Anybody who has ever gone to a movie theater knows that whether you pay for a normal movie ticket, an Ultra-screen ticket, or one that offers premium seating, the real budget breaker and downside for most is in the concession prices. The majority of moviegoers opt for the “norm” choice of popcorn -- and this option, since 1999, has seen an increase in its average price by more than $3 and now has an estimated average price of at least $8.65 in relation to the price in 2016 (boxofficemojo.com). Despite this high price, consumers continue to purchase popcorn to go with their movie.
The question some are asking though: “Why do theaters make their concession stand prices so high?” When theaters sell tickets to their consumers, the majority of the money goes back to the movie producers. So, theaters receive very little profit from solely selling tickets and to compensate for the lost earnings, they increase their concession prices where they are able to collect the entirety of the profit and increase their revenue. According to Business Insider, of a theater’s total revenue, nearly 30% of it is brought in from selling their overpriced concession stand food and they continue selling it at these prices because they know that the movie-goers will continue to purchase it at the price because of demand. Theaters will sell their drinks and popcorn at an average of 11x the wholesale cost and gather 85% profit to receive the greatest benefit that they can (http://business.time.com).


In addition, movie theaters are able to bump up their prices and keep their buyers because within a theater, there is little to no competition. More than 45% of movie-goers at all ages will at least purchase popcorn when attending a movie. Therefore, theater concessions will supply more food for the consumers to purchase while discouraging any food to be brought in by attendees from outside. Movie theater companies, such as AMC, are banning the carrying in of any outside snacks in hopes of increasing revenue after seeing a decrease in the past (consumerist.com). This eliminates any competitors and pushes customers to purchase the goods that are available to them at theaters’ concession stands where they receive the majority of their revenue.

So is it completely necessary for movie theaters to have unreasonably high prices at their concession stands? In hindsight, yes, to keep the movie theater business going and our economy from dipping and falling. Within the consumer market, it can be hard to completely please both the consumers and the producers, or the attendees and the theaters in this case. The consumers don’t want the high prices that comes with the concession stand, but the theaters don’t want to go out of business. The trade-off is in the consumer's’ hands: purchase the concession food at a bit of a higher price or have no movie theater at all because suddenly it can not stay in business. The opportunity cost to continue having an outlet for entertainment seems very worth it especially if it can help the economy and keep businesses running.


Works Cited
Tuttle, Brad. "Movie Theaters Make 85% Profit at Concession Stands." Time. Time, 07 Dec. 2009. Web. 17 Apr. 2017.
Cwalters. "AMC Theater Chain Bans All Outside Snacks." Consumerist. Wordpress.com, 03 Dec. 2009. Web. 18 Apr. 2017.
Liebenson, Donald. "Consumer Spending Trends: Concessions Are the Ticket for Movie Theatre Profits." Spectrum Group, 2017. Web. 18 Apr. 2017.
Kuzoian, Sara Silverstein and Alex. "We Did the Math: Here's How Much Movie Theaters Mark up Your Popcorn and Snacks." Business Insider. Business Insider, 24 Apr. 2015. Web. 18 Apr. 2017.
"Adjusting for Movie Ticket Price Inflation." Box Office Mojo. IMDb, 2017. Web. 18 Apr. 2017.

Easter and Economics

Abigail Laskowski
Mr. Reuter
Economics
18 April 2017
Easter and Economics

Every holiday comes with its positive economic benefits; Valentine’s Day causes an increased flower revenue, Thanksgiving leads to more turkeys being sold, and Christmas, well, nearly all spending increases around Christmas. Easter is no different than these holidays, bringing more egg, candy, and clothing sales. It was calculated that consumers collectively spent approximately $16.4 billion on Easter-specific purchases during the holiday season in 2015, and even more in 2016 when calculations were around $17.3 billion (Tuttle).

Easter is one of the few holidays that families gather for a meal to celebrate. According to 24/7 Wall Street, 86.9% of families will spend an average of $45 on items for these meals. Along with purchasing extra food for meals, consumers also buy increased supply of eggs to follow the tradition of dying Easter eggs. Early preparation for increased egg sales cause farmers to produce about two and a half times as many eggs than their normal output (Brown). However, this increase in production can’t just happen naturally--producers increase their spending as well, expanding flock sizes or changing feed rations. These additional costs create a positive externality for businesses associated with the farmers, as the expansions will bring in extra revenue for the business.

Similar to many holidays, Easter also brings an increase in candy revenue. According to Time.com, consumers spend $2.4 billion just on candy for the holiday season; whether that’s from pre-Easter sales or post-Easter discounts is undetermined. Many companies will alter the products they supply to grab the attention of consumers, as well. Reese’s produces chocolate-peanut butter eggs, M&Ms are created in pastel colors, and Hershey makes mini chocolate eggs. These holiday favorites are a hit for consumer and contribute to the boosted sales of candy companies.
Easter isn’t all about the food, though. Clothing sales usually increase during the Easter season, too, as many consumers like having new outfits for church or other gatherings. About 50% of consumers are said to buy new clothes for Easter, according to 24/7 Wall Street. However, in recent years “Easter’s arrival did little to get people into malls to buy spring apparel” (Russell). In the graph below, a surplus is shown in both the months of March 2015 and March 2016 as the apparel specialty stores have more inventory than sales occurring. Following the assumed trend that clothing sales will increase, the graph around March 2014 shows fairly equivalent sales and inventory.






Overall, Easter, along with other holidays, play a huge role in changes occurring throughout the economy. These seasonal alterations in sales allow for companies to increase their total revenue, as well as change how much of certain products they need.


Works Cited
Brown, Eric. "4-week Easter Upswing Winding down for Egg Producer." The Fence Post. N.p., 04 Apr. 2013. Web. 15 Apr. 2017.

Ogg, Jon C. "2013 Economic Impact of Easter at $17.2 Billion, Likely Undercounted."247wallst.com. N.p., 01 Apr. 2013. Web. 15 Apr. 2017.

Russell, Judith. "Easter Did Little to Boost Apparel Retail Sales in March." Sourcing Journal. N.p., 21 Apr. 2016. Web. 15 Apr. 2017.

Tuttle, Brad. "Easter Sales: How Much We Spend on Chocolate, Candy, Peeps | Money."Time. Time, 25 Mar. 2016. Web. 15 Apr. 2017.

King Kylie on the Rise

Jenna Anderson
Mr. Reuter
Economics
18 April 2017
King Kylie on the Rise
The makeup industry is growing at a rapid speed, with the US being the single-handed largest buyer of beauty products in the world. It is estimated that we spent over $62 billion on cosmetics and beauty related services in 2016(Bates). There is such a high demand for these products because people want to achieve the look of chiseled cheek bones, full lips, and long lashes. There is a lot of buzz over these products due to YouTube videos and online reviews of the products. The one brand that is growing quickly currently is Kylie Cosmetics by Kylie Jenner.
In spring of 2014, tragedy struck America when Kylie Jenner lip injection rumors spread like a wildfire. From these came infinite lip plumping products, the Kylie Jenner lip challenge, and a multi-million dollar company called Kylie Cosmetics, which sells one of the most popular lip kits ever. The lip kits include a lipstick and lip liner, and come in over 30 different shades, and Jenner also releases limited edition shades for holidays and family members. The demand for Kylie’s lipsticks started because she claimed she never had lip injections, she just used good lipstick. Although this was a lie, her products have withstood all of the tests and tend to be very high quality compared to the knock off versions like Colourpop lipsticks. These lip kits are so popular that they often sell out within hours - one time even 7 minutes according to Jenner’s Twitter. One lip kit that immediately sold out called “22” had such scarcity that it was being sold online for $3,000. The scarcity of the product produced a shortage, so the demand and price went up for it.
Jenner’s name has been under some scrutiny for the price of her products, because it is said that they’re unreasonably high and that there are cheaper alternatives that are just as nice. There are many users that have compared the lip kits to other products, and some say that it’s not worth the price, but her products continue to sell out. There is such a high demand for products like these because of the Kylie Jenner name that comes with it. Her makeup is considered a luxury good, not a necessity because there are other cheaper alternatives, but her fans pay the price for the high quality and the brand name.
As her brand continues to grow, and reviews continue to be positive, the Kylie Cosmetics brand is steadily growing and releasing new products like Kylighter highlighter, eyeshadow palettes, glosses, blushes, and there’s much more to come as she continues to develop her company. As an A-list celebrity, it’s a little easier for Jenner to get her brand out there. She’s used her fame to her advantage to create a successful business become an entrepreneur.
Works Cited
Bates, Shelby. "Capitalism, Consumerism And Kylie Jenner's Lip Kits." Odyssey. N.p., 21 Apr. 2016. Web. 18 Apr. 2017.
Canal, Emily. "Kylie Jenner's Lip Kits, Social Status, And The Economics Of Scarcity." Forbes. Forbes Magazine, 03 Mar. 2016. Web. 18 Apr. 2017.
Schaefer, Kayleen. "Kylie Jenner Built a Business Empire out of Lip Kits and Fan Worship." Vanities. Vanity Fair, 30 Jan. 2017. Web. 18 Apr. 2017.

Is Social Media taking over our Economy?

Is Social Media Taking Over Our Economy?
Zoe Bierce
Through generations the use of Instagram, Twitter, facebook, and other social media has become so intertwined in our daily lives that it is becoming an essential thing for some. Everywhere you look people are taking pictures to post on their snapchat stories, or are typing a long rant that they want to post on a facebook page. With social media becoming more and more crucial in our day to day lives, it has begun to affect our economy too.
Social media has continued to advance, they create new ways to shop, spend, and show off people’s money. “Social media is transforming banking relationships in very significant ways, from improving customer service to allowing users to send money to others via online platforms. New financial technology companies are using social media to help people simply open a bank account. Social media can even impact your ability to get a loan.”(World Economic Forum) By allowing people to follow links on social media platforms it offers an opportunity benefit to both the consumer and producer, and that is it gives a simpler way for people to transfer money and a quicker time for people or banks to receive the money. Since it also affects your chances of receiving a loan, it allows banks to determine whether or not someone will be able to pay off their loan. By improving their decision making, it will allow banks to make more money by having reliable people pay their loans back. By having social media make it easier to spend money, it is boosting the economic GDP(Gross Domestic Product) per Capita.
The graph above shows the amount of social media in each city and the GDP per capita for each. According to the graph above, the more prominent social media is in the area the GDP per capita is usually higher. “It stands to reason that the adoption of the use of social media at the city level would rise alongside local incomes and the overall level of economic development. And that is what we find. Social media is associated with both economic output and income.”(The Atlantic) By allowing it to be easier to spend money online right from a store or banks account, consumers are spending their money faster allowing companies to make money faster. By increasing the spending for finals goods or services online, it is increasing the amount of money being brought into the economy, raising the GDP per capita thus increasing the GDP for the country.
Overall, with the increase of popularity in social media it is allowing producers and consumers to exchange more money, increasing both GDP and GDP per Capita.

Works Cited
Florida, Richard. "Is Social Media Driving the Economy?" The Atlantic. Atlantic Media Company, 27 Oct. 2010. Web. 04 Apr. 2017.
Guzman, Alejandra; Vis, Farida “6 Ways Social Media is Changing the World” World Economic Forum. World Economic Forum, 3 Apr. 2017. Web. 04 Apr. 2017
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