Multiplier Economics Essay Competition

The Levy Economics Institute of Bard College is pleased to announce the ninth Minsky Summer Seminar will be held from June 17–23, 2018. The Seminar will provide a rigorous discussion of both the theoretical and applied aspects of Minsky’s economics, with an examination of meaningful prescriptive policies relevant to the current economic and financial outlook. It will also provide an introduction to Wynne Godley’s stock-flow consistent modeling methods via hands-on workshops.

The Summer Seminar will be of particular interest to graduate students, recent graduates, and those at the beginning of their academic or professional careers. The teaching staff will include well-known economists working in the theory and policy tradition of Hyman Minsky and Wynne Godley.

Applications may be made to Kathleen Mullaly at the Levy Institute (mullaly@levy.org), and should include a letter of application and current curriculum vitae. Admission to the Summer Seminar will include provision of room and board on the Bard College Campus. The registration fee for the Seminar will be $325.

Due to limited space availability, the Seminar will be limited to 30 participants; applications will be reviewed on a rolling basis starting in January 2018.

Last year’s seminar featured the following faculty (the roster changes somewhat from year to year, but will be broadly similar for ’18):

Robert J. Barbera
Codirector, Center for Financial Economics, The Johns Hopkins University

Leonardo Burlamaqui
Associate Professor, University of the State of Rio de Janeiro

Fernando J. Cardim de Carvalho
Senior Scholar, Levy Institute; Emeritus Professor of Economics, Federal University of Rio de Janeiro

Steven M. Fazzari
Research Associate, Levy Institute; Professor, Washington University in St. Louis

John F. Henry
Senior Scholar, Levy Institute

Arturo Huerta González
Professor of Economics, Universidad Nacional Autónoma de México

Fadhel Kaboub
Research Associate, Levy Institute; Associate Professor, Denison University; President, Binzagr Institute for Sustainable Prosperity

Stephanie A. Kelton
Research Associate, Levy Institute; Professor, University of Missouri–Kansas City

Jan Kregel
Director of Research, Levy Institute; Professor, Tallinn University of Technology

Tracy Mott
Associate Professor and Chair, Department of Economics, University of Denver

Michalis Nikiforos
Research Scholar, Levy Institute

Felipe Rezende
Assistant Professor of Economics, Bard College

Pavlina R. Tcherneva
Research Associate, Levy Institute; Associate Professor, Bard College

Mario Tonveronachi
Professor, University of Siena

Frank Veneroso
President, Veneroso Associates, LLC

L. Randall Wray
Senior Scholar, Levy Institute; Professor, Bard College

Gennaro Zezza
Research Scholar, Levy Institute; Associate Professor, University of Cassino

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Tourism and Multiplier Effect Essay

1240 Words5 Pages

Tourism and Multiplier Effect

The term multiplier effect refers to the resulting effect of a service or amenity creating further wealth or positive effects in an area. For example, tourism in an area will create jobs in an area, therefore the employees of the tourism industry will have some extra money to spend on other services, and therefore improving these other services in that area, allowing further employment in the area.

(ii) Explain with examples how tourism can lead to a variety of employment types, at the point of origin or destination. (9)

In any area, tourism will require people to create the tourism experience and enhance the visitor's enjoyment of the location. Firstly, the…show more content…

During their stay the tourists will require entertainment, an opportunity to sample the local food and possibly see the sights the area has to offer by taking a guided tour or coach tour of the surroundings, all of which require people (hopefully local to avoid leakage of revenue back to MEDCs) to man the activities and therefore will create employment in the local area. The need for personal service, such as being waited upon, or having a personal tour guide means that the tourism industry is likely to employ many people during the course of the high season. This means that the people involved with tourism for the most part will have to seek employment elsewhere, as the tourist season is concentrated in the peak season (mostly summer for areas such as Southern Spain, however for skiing or winter activities in areas such as Switzerland or Austria, this may differ).

The tourist work is also likely to be temporary from year to year, low paid and informal, with payment cash in hand. This would indicate a transient industry and would suggest that the host country would benefit from a diversified industry away from tourism, such as exporting oranges, wine and Seat cars in Spain, however their most prolific industry is tourism, with many Europeans seeking 'winter sun' in the Costa's.

B.

The economic benefits of tourism almost always outweigh the environmental

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