Economics for ManagementEconomics is one of the major fields that can be considered essential in the management not only of businesses but also of a nation. The proper management of the different policies of the government related to different aspects of the nation. The important and essential processes in the nation are encompassed by the different concepts of economics. It can be surmised that in the study of the various facets in the administration of any government and the commencement of the different policies which are largely attributed to economics, make up the nation.
This can be attributed to the factors such as employment and market dynamics (Chrystal & Lipsey, 1997). In the study that was conducted, the relationship and role of the different fields of economics is the main focus. The objectives were undertaken through the selection of articles that are based of areas of economics related to environment, to fiscal and monetary issues and to international concerns. A. Economics and the Environmental IssuesOne of the issues that are put into focus in the study that was conducted is economic application and policies in effect to the environmental issues.
Such necessity can be perceived due to the fact that consumption of products that are derived from the natural resources can be encompassed by the measure of economic value and worth. In the United States, the convergence of the environmental issues is the Environmental Protection Agency (EPA). In an article that was published in November, the EPA had discussed the project that had been 3 yrs in the making. In the said issue, the said agency was able to affect the economic condition by reductions of the total pollution in the country.
Specifically the agency recorded a reduction in the amount of pollution by 3 billion pounds. This resulted to diminution of health benefits required by the population by 3.5 billion US dollars, which is a per annum average (Ryan, 2006). The achievement was possible by restructuring the management of different establishments, organizations and companies. The particular action was undertaken through the participation of different groups and allocating resources for the reduction and decrease of pollution and the products that can cause harm to the environment.
The actions that were undertaken were related air and water problems. The article that was studied mainly describes the action undertaken was made possible through the allocation of resources and economic planning that was implemented by the companies and manufacturing facilities that cooperated in the project. The main problem whose main solution was sought is the problem on waste management specifically involving the major economic participant, the producers of the goods. They are attributed to produce most of the harmful by-product. In reaction to the conceived problems regarding pollution, the reduction in the pollutants that came from the production of different products from the manufacturing agency is one of the conceived solutions which can be undertaken through the economic management of the resources of the participating groups.
The said notion can be demonstrated through the equated amount for the reduction that is presented in Table 1.