If, like many people you follow the news including the financial and business sections then a career in economics might just be for you. Economics isn’t just about money, it’s about understanding a range of subjects they have an impact on the economy including political, sociological, geological and historical issues.
Studying economics at university can lead to a job in many areas of the financial and managerial sectors including banking, accountancy, trading and auditing. Other career paths that economics can help in include positions in marketing, management and sales roles.
While economics does not focus solely on number-crunching, reading charts or spreadsheets, students will have to have an aptitude for both mathematics and information technology. Problem solving and an understanding of currents affairs throughout the world are also good traits to have.
Throughout an economics degree, the student will learn a wide range of skills, opening up a wide range of career prospects (as mentioned above); some of the skills taught include:
• Analysing complex data and forming conclusions based on them
• Creating and presenting arguments
• Approaching issues from multiple angles, including the use of computer software
• Strong numeracy skills
• Strong IT skills
• Strong research skills
• Problem solving
• Planning and meeting deadlines
• Self-management skills
• A good understanding of current affairs
Some students even go on to consultancy roles giving advice to banks, large business or even government agencies, while some use the knowledge gained to start their own business.
For more information on economics or to see some economics coursework examples click here.
Grants are available for many types of businesses and projects, and can be a welcome source of income for a new or expanding business. Grants can be applied for from the government, EU, local councils and even charities so it’s a good idea to have a look around and see what’s out there.
One of the main advantages of grants is that unlike a loan you don’t have to pay the money back or the interest associated with it, but because of this competition is fierce for grants so you will won’t to work on your plan or project to make it stand out.
Advantages of grants include:
• You don’t have to pay a grant back.
• You don’t lose any control of your business.
Disadvantages of grants include:
• Finding the right type of grant for your business can be tough.
• There is a lot of competition for grants.
• Grants are normally awarded to planned projects and not those which have already started.
• Applying for grants can be time consuming.
Most forex robots are built around the Metatrader platform, which was specifically developed for trading futures, options and forex. The key role of a forex robot is to help traders automate specific actions. This tool is appropriate for running mechanical forex strategies that occur without human intervention.
How to use a robot
A quick search of the internet will reveal a wide selection of forex robots. Before downloading a specific product, the trader should check the reputation of the company selling the software. This is important, because many companies that spring up overnight propose incredible deals only to disappear within a matter of weeks. If possible, use a selection of robots, for a trial period, on a demo account. Having located a reliable company, the individual simply has to purchase and download the product. As soon as the software is installed it is ready for use.
To begin, the trader should open the robot, drag it to a chart, click ‘Allow Live Trading’ and activate the software by going to the ‘Expert Advisors’ section. The robot will then start to perform a variety of online currency trading activities right away.
Top advantages of using a robot
A trader who uses a robot correctly can often achieve great results. This is because the robot trades according to pre-set rules, even when the investor is not around. Additionally, it is able to perform objective online trades that are more effective than many subjective activities completed by human traders.
Another benefit of using a robot relates to the forex trading signal. Multiple forex platforms are ready to buy these signals and sell them to their subscribers. This can help the trader maximise the performance of his or her robot.
A trader will only become successful if his or her robot delivers profits most of the time. Unfortunately, there are many poor-quality forex robots around, which prevent traders from achieving the results they should.
To add further to the cost of business the National Minimum Wage goes by 12p an hour on the 1st October 2013 to the new rate of £6.31. The rate for 18-to-20-year-olds is increasing by 5p to £5.03 an hour, while it is going up by 4p to £3.72 for the 16-to-17-year-old age group.
The increase has been known for some time having been first announced in April of this year, following the recommendations of the independent Low Pay Commission. Employers will have time since the first announcement to take the increase into consideration in their costing, but it is hardly good news for hard pressed small and medium enterprises.
It is unlikely that this will be the rate for very long, if the campaigners for a living wage can influence government, they argue that arguing the minimum wage does not reflect the real costs of living, particularly in London where £8.55 should be the rate with £7.45 an hour in the UK as a whole.
The National Minimum wage first came onto the statute book on April 1st 1999 and was set at £3.60 an hour and workers under the age of 22 £3 an hour.
It is surprising that although most, if not all business today has a website, most do not use to increase sales or profitability in their enterprise. In a report that has been released by O2 business, they produced a statistic the suggested that a quarter of consumers said they would not do business with a company that didn’t have a website. Well we do not find this in any way surprising, but do you use yours to its full potential to convert visitors to your website into customers?
How about social media engagement for instance, it’s not new business has been doing it for hundreds of years, but in the form of local newspaper advertisements, possibly pamphlet distribution or sponsoring events or entertaining. Remember that social media can be really useful for your business it enables you to talk to, and build a relationship with customers, importantly it has a positive impact on the volume of hits that you can get from the search engines.
Do not be afraid to use Twitter or Facebook to drive customers to your company website, it can be the ticket to increasing enquiries and sales, letting customers converse with your business freely, via social media channels, will reap dividends and although it can be time consuming, so can many other forms of selling your product. Embrace the digital age and use it to get customers worldwide to your website and buy your product or service.
Most investors are aware of the fact that having a really good forex broker will help them succeed in the forex market and make consistent profits. However, finding the best forex broker can be difficult. Today, there are literally hundreds of brokers offering their services on the internet.
Locating a good broker
A novice trader, looking for someone to help him or her start trading will find many a forex brokerage promising effortless and inexpensive forex currency trading accounts. Although most of them are legitimate, some will be fraudulent.
To avoid falling victim to scams, the first thing a newcomer to the forex market should do is contact the Financial Services Authority (FSA). Monitoring forex brokerage firms and individual brokers, this institution provides critical information about its members, including contact details, reviews, complaints and disciplinary actions. In fact, a trader looking for a reputable broker should be aware that all brokerages and professional brokers must be authorised by the FSA in order to perform specific forex trading tasks.
Investors who already trade in other markets should ask their current brokers if they have any experience with forex. If they do not, they may recommend a fellow broker who has a good reputation. The investor should always be sure that the prospective broker really does know how to trade forex. This can be done by simply asking for references from existing clients or looking for feedback on one of the forex forums.
Since the relationship with a broker involves constant contact and financial commitment, investors should never take the decision of hiring a broker lightly. Failure to do so may result in serious repercussions, such as becoming the victim of a scam. In conclusion, if a broker does not have FSA authorisation the investor should look for an alternative service provider.
Waiting for invoices to be paid can put a strain on businesses. However, those invoices can be used to secure finance without having to resort to loans or overdrafts. This is done through invoice financing.
There are two kinds of invoice financing; invoice factoring and invoice discounting. With both, an invoice financier buys the debt and forwards up to 85% against the value of the invoices. The balance, less any fees and interest, is paid once the clients have settled their invoices.
With invoice factoring it is the invoice financier who is responsible for pursuing and collecting payment from clients for the unpaid invoices. While this will save businesses a lot of time and trouble, their clients will know that a third party – in this case the invoice financier – has been used to collect the debt. This in turn could harm the reputation of companies using invoice factoring. This can be avoided by using invoice discounting.
Invoice discounting operates in a similar fashion to factoring, with a percentage of the value of the invoices paid by the invoice financier upfront and the balance paid when they have been settled. However, it is the business which issued the invoices which are responsible for securing payment and forwarding them to the financier. This means that the client owing payment need never know that an invoice financier has been used.
Companies wanting to use invoice financing should be aware that most invoice financiers deal with only commercial invoices. This means that those who provide goods and services for the public may not be able to use this form of finance.
Whether you’re looking for the latest forex news or for an article on John Keynes economic ideas, the internet is an excellent source of information, and is more readily available than books in many homes in the UK. However, when using internet sources, it’s important to ensure that the information is good.
How can information be bad?
There are a couple of ways in which essays can be tripped up by bad information.
Satirical and spoof internet sites such as The Onion, and the Daily Currant, can appear to be upstanding news sources and it is partly their similarity to websites like bbc.co.uk that adds to their humour. However, whilst the information should be obviously silly and incorrect, it isn’t always.
There are also many people who create websites to use as their own personal soapboxes, but just because the information has been published on the web doesn’t mean that it is factual. It isn’t always obvious that the information is bad, and sometimes writers go out of their way to make it look good.
Spot the signs of bad information
You should always double check your sources. Use books where possible, or check the internet for more sites that say the same thing. If you can only find one instance of the information, or if you find lots of instances but all using exactly the same phrasing, there is a chance this is bad information.
Take a good look at the site you got the information from. Can you spot spelling errors? Grammatical issues? (‘Your’ and ‘you’re’ are common mistakes to watch out for). How about the site itself? Is it a professionally designed site, or one that appears to have been cobbled together?
You may need to carry out some detective work when searching for information on the internet but it’s important to ensure that your sources are solid.
When it comes to currency trading, forex is one of the most liquid exchange markets available today. The market is huge and traders who are involved are looking to achieve profitable results consistently; in order to do so they must develop a complex strategy. Unfortunately, recent reports indicate that about 95 per cent of traders are unable to achieve consistently positive results. That is largely because most of them focus on unreliable information, which means they make the worst possible trading decisions.
Understanding the basic essentials
To develop a lucrative forex currency trading strategy, an investor must consider a number of key elements, such as technical indicators, trading systems and money management techniques. All trading decisions must be made based on certain technical indicators, such as price fluctuations. For example, a broker can make a massive profit by following a simple day trading strategy, which consists in buying when the currency is low and selling when its price goes up.
To get the best out of using a certain strategy; for example, day trading, the individual should develop his or her personal forex day trading system, one that fits their specific needs and goals. This means each trader has to make an ongoing effort to develop a system that works perfectly for him or her.
In addition, multiple money management techniques can help traders make profit without risking too much. A good rule of thumb is to invest around one per cent of the money deposited in their forex account. Although this is likely to result in only small returns on investment, it leads to exponential profit growth over time.
After creating a particular trading strategy, traders should try it on a forex demo account. Once a particular strategy delivers consistent results, it can be transferred to a ‘live’ forex account.
Forex day trading is a very specialised strategy. It involves opening and closing market positions within the same day. With this form of trading, no positions are ever held overnight.
Day trading allows traders in the forex currency market to try and benefit from the fast-fluctuating forex rates. There are also different strategies which can be used within this form of trading. One is called scalping, where positions are opened and closed during very short periods of time, such as within minutes or seconds. Another option is keep the position open for hours before closing. A competent FX day trader may well switch from one strategy to the other during the hours of trading.
The main advantage of day trading, particularly for experienced professionals, is that a profit can be turned very quickly. There can, however, be pitfalls for the unwary.
Anyone intending to undertake forex day trading will need to be prepared to stay in front of the computer screen throughout the entire trading session. Where automated trading is being used there will have to be absolute faith in the forex software being used.
In currency day trading traders need to be skilful and have a comprehensive understanding of the forex market. A thorough grounding in forex and a wide knowledge of how the market operates is absolutely essential if anyone is going to make a success of it. This makes a day trading strategy unsuitable for most novices or those unable to dedicate enough time to it. Indeed, most day traders are industry professionals who have the time required to concentrate fully on this form of forex trading.
Forex, however, is the biggest financial market in the world and for those traders with the skill and competence, as well as the confidence to take the risks, day trading can be a very rewarding occupation.