NationStates Jolt Archive

Hello there, i'm a 17 y/o studient that has been mailed to enter a U.N simulation, i must say english is not my mother tongue, and this U.N simulation is in english so I would appreciate very much if someone taught me some high level word of economics, politics and external relations.

Plz if you put something here put what it means.

In terms of economics...

You'll want to be able to talk about micro-economics and macro-economics.

The first is talking about an economy on a small scale, using an example of a lemonade stand and how the weather affects the supply and demand of that good for a neighbourhood.

So, if demand goes up, the profit goes up, as long as there is the propensity for people to spend and the supply is there to meet the demand. If demand goes up and supply goes down, then you'll have prime conditions for inflation in order to keep the profit margin up, as people will want the product or service.

When talking about micro economics, there are fewer factors to consider, as this usually embraces the bare minimum of economic policies.

The second, refers to the big picture, in this case, the national economy. This economy is control by the corperate entities which will sometimes have a state-wide monopoly (extensive control in the hands of one), in something like hydro, or will have an oligopoly (such as a good controlled by a few, but the price is set for a profit), such as in the case of oil.

In macro economics, supply and demand still works there, but, there are other factors that are active that can change the momentum of the economy, such as government deficit (willingly incurring debt in order to spend money), debt (what you have when you spend over your means) or surplus (the opposite of deficit and debt).

There are different types of inflation (the basic cost of living increasing). There's inflation (which is favourable because it means in some cases economic growth), hyper inflation (this is inflation which is a little out of control) and galloping inflation (the best example of this is Germany in the 1920s. Because of the fact that they had massive war reparations because of French and English demands, they began to print more money, which devalued (making (for example) a currency worth less compared to the others) from their currency, at the same time which the cost of living went up. Now, because there was so much money floating around the German market, the value of the Deustchmark dropped, rendering it worthless).

The opposite of inflation is deflation, which usually means economic shrinkage. The cost of living decreases, but so does the value of the currency and such. While this seems like a good thing, it is actually more harmful than inflation.

In any economy, unemployment, if between 4-9% (the unemployment rate is expressed as a percentage) is favourable because this is the pool of available workers. These are people who can be hired for any job. This is good because it means that if someone leaves a job, there is ideally another person waiting to take that position.

However, at one point, the scales for favourable and unfavourable unemployment rates tip, and you get a situation, like during a recession (short-term economic slump) or a depression (like in the 1930s). This causes an economic slow down because the trickle down effect is narrowed due to fewer people spending money. If there are fewer people spending money, there is less demand, and if there is less demand, there is a surplus of supplies, and if that occurs, the value of these supplies drops, rendering a profit deficit. Once this happens, pink slips (termination of employment notices -- these are issued during massive layoffs) are issued because businesses aren't making a profit and if they aren't making a profit, they can't pay to keep workers because these workers become an economic burden. Thus, more people are without work and now, there are more people not spending money...

If I think of more, I'll add more. I might make a post about political terms, and write it in a similar fashion. I hope that this makes it easier to understand. I know it seems like a lot, but I figured it was better to see the terms in use rather than just the definition.

If you want to discuss this more... (AIM: nikkesen YAHOO: neko343). Just let me know who you are and remind me what you need information on (that is, if you found this helpful).

NOTE: I'm a computer studies student, not an economics major, so, if I'm wrong, feel free to correct anything I've said.

It's not that I know any politic or economic expressions, but I'm really intrigued by that UN simulation. Were did you find it?

I need help, too. The kind I need, is the professional kind! :p

(Sorry, couldn't resist)

It's not that I know any politic or economic expressions, but I'm really intrigued by that UN simulation. Were did you find it?

My school makes it with others, in order that we get some conscience, they say.