Proficiency in proper citation procedures is essential for preserving scholastic credibility and recognizing sources of information. The American Psychological Association (APA) reference style is extensively used in tertiary academics, including economics. This essay outlines a summary of economics-related posts and articles while highlighting the need to follow proper APA citation requirements.
According to Heaven’s (2023) article, the effects of an extra interest rate rise by the Bank of Canada on the burgeoning property market during the epidemic. Numerous analysts express fear that rising interest rates may reduce consumer demand, especially among entrepreneurs and traders taking advantage of low-cost loans “Mortgage experts also expect the housing market to slow” (Heaven, 2023). Major cities have already witnessed a receding effect on the housing market following the June rate hike. Potential clients are taking a wait-and-see strategy, expecting lower prices, while current property owners may face higher mortgage costs. The article emphasizes the complex balancing act facing the Bank of Canada, highlighting the need to weigh the dangers of inflation against the need for adequate liquidity when calculating its policy rate (Heaven, 2023). The central bank must manage these difficulties to maintain economic balance and avert possible real estate downturns as the housing sector stands on the edge.
There were some new vocabulary which I encountered such as mortgage, pricey, megacap, insolvency, and interest rates which are used in the article. In economic literary works, a mortgage is a loan secured by real estate that is commonly used by businesses to purchase property or fund investments (Heaven, 2023). The term pricey refers to something expensive, which can influence a company’s budget and monetary choices. The term mega-cap refers to a firm with an extremely enormous market capitalization, indicating its size and market importance. Insolvency refers to a situation in which a firm is unable to pay its liabilities, eventually leading to bankruptcy (Heaven, 2023). Interest rates are important in company operations because they influence borrowing costs and profitability and changes in interest rates can have an impact on organizations’ choices regarding investments and financial strategy.
The article by Kirby (2020) plunges into the serious financial implications of the COVID-19 epidemic in Canada, describing the country’s reaction as placing its financial sector in an imposed nap to combat the virus. Economic Analysts projected a startling decrease in Canada’s GDP in the second quarter of 2020, ranging from 23% to 35% yearly basis. Joblessness claims skyrocketed, with one million Canadians filing for unemployment benefits in a single week and an estimated four million claiming the Canada Emergency Response Benefit in April. Existing economic issues, such as declining petroleum prices, huge family debt, and slow company investment, exacerbated the crisis. Despite vigorous steps taken by the central bank and the federal government to boost the nation’s finances, the article cautions that they may be inadequacy to avert an extensive recession or major economic transformations (Kirby, 2020). The recovery’s course is determined by the effectiveness of viral control measures and the flexibility of firms and consumers in handling the changing financial landscape, emphasizing the unpredictability that lies ahead.
Rowden (2019) criticizes supporters of the Sustainable Development Goals (SDGs), claiming they have a monetarism problem by focusing on financial metrics rather than tackling the fundamental structural concerns that cause impoverished circumstances and inequalities. It believes the SDGs are extremely ambiguous, aspirational, and disconnected from global economic and political reality. The critique stretches to the mistaken premise that economic development assures social and environmental improvement, ignoring the negative repercussions of neoliberalism policies, commercialization, and corporate dominance. Furthermore, the SDGs’ reliance on private business and charity for finance generates issues regarding transparency, possibly undermining the government’s duty of providing important amenities and protecting human rights (Rowden, 2019). The article proposes a major review of the SDGs, offering a comprehensive, parliamentary, and transformational strategy based on new indicators. It advocates for tackling core problems such as colonialism, sexism, racism, and capitalism to construct a developmental strategy that reflects distinct community ambitions.
The article by Srikanth (2012) examines the history of Canadian ethnic diversity, demonstrating the lack of concern for indigenous peoples’ difficulties. It examines multiculturalism’s advancement from language duality to ethnic diversity while underscoring the enduring marginalization of Aboriginal communities. The piece delves into indigenous critics of multiculturalism, demonstrating these communities’ struggles to claim their rights and sovereignty independently. Ultimately, the article contends that, while multiculturalism strives for togetherness, it also creates inequality and ethnic variety in Canada (Srikanth, 2012).
References
Heaven, P. (2023). Posthaste: How another Bank of Canada rate hike will affect the housing market. Retrieved from Financial Post: https://financialpost.com/news/bank-of-canada-rate-hike-affect-housing-market
Kirby, J. (2020). Coronavirus plunges Canada’s economy into the abyss. Retrieved from Maclean’s: https://macleans.ca/economy/economicanalysis/coronavirus-plunges-canadas-economy-into-the-abyss/
Rowden, R. (2019). Advocates of the SDGs have a monetarism problem. Retrieved from Developing Economics: https://developingeconomics.org/2019/09/10/advocates-of-the-sdgs-have-a-monetarism-problem/
Srikanth, H. (2012). Multiculturalism and the Aboriginal Peoples in Canada. 47(23), 17-21. Retrieved from https:/www.jstor.org/stable/23214913
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