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Oppenheimer and Oscar Economics
This article is quite long, but has important modern implications. Source: Michael Ramirez, The Gazette.
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How are you going to contribute to the nations in terms of closing the wealth inequality gap?
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In Tinta Minda, BERNAMA. Malay article. Excerpt: "Laporan prestasi ekonomi negara pada suku ketiga pada 2020 yang diumumkan Bank Negara... -
Please read the article by Paul Krugman in the New York Times at the link given below and give your comments as what Malaysia had experience...
The personal income tax tends to be progressive, while social security contributionsc and consumption taxes tend to be regressive. But progressivity could be strengthened by cutting back tax expenditure that benefit mainly high-income groups (i.e. tax relief on tertiary education by child). In addition, removing other tax relief such as reduced taxation of capital gain would increase equity and allow a growth-enhancing cut in marginal labour income tax. It would also reduce tax avoidance instruments for top income earners.
ReplyDeleteAn affordable, accessible, quality education. A well-educated country is a capable, skilled, and well-off country; education is arguably the single most critical tool poorer segments of the population can use to ascend to the middle class and stay there.
ReplyDeleteKnow the fundamentals as the basis for the country's economy which consists of microeconomics and macroeconomics affecting the economy in general. It is also known as the basic quality of analyzing the health and stability of the national economy including unemployment, domestic product growth, demand and supply and inflation. This category can be used for large-scale economic analysis as a whole or can be associated with individual business activities to make changes based on macroeconomic effect.
DeleteIMIEZATULNUR'AINNABILA BINTI MAHIDIN (1150615)
ReplyDeleteThe fundamental ecenomy is the basic economy of the certain country. This fundamental consist of two things which is macroeconomic and microeconomic. Both of them effect from the growth domestic product, inflation, unemployment rate and the welfare of the country.
Like had been outlined in budget 2019 where the Financial Minister, Lim Guan Eng where one of the highlight is focusing on the welfare where :
Government to continue and improve cost of living aid (BSH) for B40 group, to be given in a more targeted manner, with 4.1 million households expected to continue receiving financial aid from government via RM5 billion allocation.
* Households with monthly income of RM2,000 or lower to get RM1,000
* Households with monthly income between RM2,001 and RM3,000 to get RM750
* Households with monthly income of between RM3,001 and RM4,000 to get RM500
This incentive a little bit help the citizens in managing the financial and at the same time help them spending the money to the economic growth.
As we are encounter a new phase of rulings, the capability of the government to embarked a possession in the education is something to be proud of and the diligence of it can be recall as the new era to the education for better future but there is a sort of weaknesses as the Bumiputera local school are sharing the least budget contemplate to the number of it rather than the private school that has a greater flow in term of financial assist, but surely there is always a silver lining in whatever the decision to ensure the justifiably in education and it is being taking care good for the sake of us to hope so. Accentuation of education to create awareness of inequality gap are the solid reason to the new disquisition of the budget for the people
ReplyDeleteMohamad Ridzuan Bin Jamaluddin (1150605)
ReplyDeleteComment on 2019 Budget (13/11/18)
Many efforts have been taken by the government to take care of the B40, as well as sectors like education and healthcare. An innovative budget with the introduction of new innovative mechanism like the property crowdfunding platform, however some economist said that the policies are more “populist” instead of focusing on growth. Despite the great allocation of budget 2019, there still inadequacy that government need to observe. In conclusion, although there are some the criticisms, we can see that it is quite an impressive budget to hear especially on how innovative it is.
Economic Fundamental (15/11/2018)
The word ‘fundamental’ can be defined as ‘basic’. When we refer to economics, it mentioned the most basic macroeconomic and microeconomic indicator such as economic growth rate, inflation rate, unemployment rate, GDP growth and other.
An example of way to solve wealth inequality among society is focus on education and on helping the poor build wealth through savings program.
Economic Fundamental is a basic of the economic, as we could refer to the definition of economic which is the social science concerned with the efficient use of limited or scarce resources to achieve maximum satisfaction of human materials wants. Therefore, when it comes to economics it refers to the most basic macroeconomic indexes such as economic growth rate, inflation rate, GDP growth and unemployment rate which it could describe the economic status of a country.
ReplyDeleteBased on the budget 2019. We could observe how they being careful to make the budget 2019 in order to control and satisfy the macroeconomic indexes in Malaysia. In terms of narrow down and the initiative to close the gap of wealth inequality, government has make a lot of facilities to help the poor. They also still continue the BR1M but control the group of receiver in order to ensure that only the deserve group is received the incentive so that they can surely reduce the gap of wealth in inequality as compared to budget 2018.
Economic fundamental is the basic of economy. It is something that can affect the economy of certain country such as economic growth, inflation, unemployment, supply and demand and also fiscal and money policy. All of this will show how strong the economic of a country.
ReplyDeleteFor the budget 2019, we can help the nation to close the wealth inequality gap by give money (sadaqah) and offer a better job with better wages to the poor. The rich should never keep the money to themself and they should trust the poor. When we trust them, we will see them as equal as the rich and the poor will succeed. The rich also should offer a better job with high wages that can help the poor to change their social status.
The government also can raise the minimum wage from RM 1,000 to RM 1,200. even though the there are only increase RM 200 but it can help the poor in many ways. They can buy groceries for a month and sometimes up to two months with just RM 200. Therefore, they can pay another expenses with RM 1,000. They also can save the RM 200 in (Amanah Saham Nasional Berhad) because it can increase rapidly.
Mohmad Hafizi bin Zainudin - 1150594
ReplyDeleteFundamental economics is a basic qualitative and quantitative data that contributes to the financial or economic and the subsequent financial valuation of a company, security or currency. Their example of indicator is gdp, unemployment rate and exchange rate.
NOR FATIN SYAHIRAH BINTI SANIMAN (1150609)
ReplyDeleteEconomic fundamentals for Malaysia are labor, land, capital and entrepreneurs.
For labor, it is physical or mental energy contributed by humans that will give rewards by wages. Second is land, which is the nature of God's grace that will give reward by rent. Third, capital Money and other resources used for wealth produce goods and services. Last but not least, an entrepreneur that combine labor, land and capital for
produce goods and services.
The Malaysian economy is divided into 3 sectors, which are the main sector, second sector and the third sector.
Main sectors is involves early-stage activities in the production process.
The production of raw materials comprising agricultural and produce is the sector's activities.
Its mean comprisesm of several sectors agriculture, forestry sector, fisheries sector, animal husbandry sector and mining and quarrying sector.
Second sector is the second stage in the production process where processing of raw materials into finished or semi-finished goods.
Comprised of manufacturing and construction sectors.Third Sector
Known as a service sector that involves service-producing activities.The third sector is divided into 3 groups which are production services, public services and other services.
Nur Syafiqah Zalfa Binti Muhammad Yusof (1150617)
ReplyDeleteFundamental economics can define as basic of economics. As the researcher said, the fundamental economic measures how strong the economy in one country. For example, Korea is one of the best fundamentals economics that can be referred by other countries. What makes Korea one of the best country in fundamental economics is the foreign exchange that amounting over 300 billion dollars, trade balance surplus and other government finance.
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ReplyDeleteNUR IZZANI BT RAIF 1150580
ReplyDeleteGenerally, economic is the study of human activities that related on how to manage the limited resources in order to fullfill the unlimited wants. It associates with a branch of knowledge that deals with human effort in term of acquisition, allocation and utilization of limited resources to satisfy the human needs. People wants are unlimited because we often need things or material item in order to satisfy ourselves. Unfortunately, we have a scarcity of resources thereby we need to utilize and manage it efficiently and effectively to avoid wasted. There are two types of economy which is microeconomics and macroeconomics. Microeconomics is concern with the individual decision such as markets, firm, household while macroeconomics is about the performance of economy as a whole such as the country GDP, inflation rate, unemployment rate and welfare. Fundamental economics also need to look at the 3 questions that arisen. There are what to produce, how to produce, and for whom to produce. These are the fundamental questions that people need to ask in order to create any kind of production.
My comment on budget 2019 is I am very interested to one of the budget 2019 under the Employees Provident Fund (EPF) where the new government implement the i-Suri account for housewives. The government allocate RM45 million for matching RM40 monthly EPF contribution special for housewives. This new plan where the husband would contributing at least RM5 per monthly to their housewives account encourage a lot of benefits for housewives. This new policy shows that they concern about the income for a housewives who didn’t work. Through this i-Suri account can help housewives to have protection in term of income for the future. Even they didn’t employed, they also can have an EPF account contribute by their husband. As according to our Deputy Prime Minister, Datuk Seri Wan Azizah Wan Ismail said that this i-suri allows housewives to get opportunity to enjoy a quality social security and increase income protection. Despite that, the government intend are to make sure welfare of public, but the citizen needs to shows their effort to increase their standard of living as well. I think this is a good incentive as they start to focus to the women priority.
Umiey Syafiqah Binti Dzahrul-Lail (1150610)
ReplyDeleteFundamental Economic
The word fundamental has the meaning basics.In my opinion for fundamental economic, it indicates the most basic macroeconomics indexes . For instance, economic growth rate, inflation rate and unemployment rate. Those indexes will be use to measure on how strong the economic of the country. Basically it also can be referred as stamina of a person. To run fast and long,we have to prepare ourselves with strong withness or anytime we would collapse. Same goes to the economic fundamental ,assume that the fundamental economics as the stamina and coutry as the person, if the country want to improve the economic stability and sustain in long term, they need to prepare strong fundamentals.
Economics Fundamental
ReplyDeleteWords of ‘economic’ considered deals with the production, distribution and consumption of goods and services in a country while the words of ‘fundamental’ indicates the most basic macroeconomic and microeconomics indexes. The macroeconomics indexes such as economic growth rate, inflation rate, unemployment rate and include the welfare by Gini Coefficient rate. The fundamental is the best to describe the economic status of a country. It is show how the strong a company whether it is weak or strong of the economic performance. Related to budget 2019 had represented in 2 November 2018 which has outline proactive measures to increase the country’s income, including through the introduction of indirect taxes and reducing spending in certain sectors seen to have no major impact on the people and not inhibiting the country’s economic growth. Following the announcement by Prime Minister Tun Dr Mahathir Mohamad that the government might have to introduce new taxes to pay off national debt, Mustafa also proposed some indirect taxes that could be introduced by the government. Among them are Real Property Gains Tax (CKHT) on resale of real estate purchased within a certain period, the Digital Tax for online businesses and Carbon Taxes (taxes on any greenhouse gas emissions) and also suggest that the government be more transparent in spending using indirect taxes including Sales and Service Tax (SST) as the people want to know where their money is spent. Continuing on what is being highlighted in the 2019 budget, which prioritizes to three important sectors which are health, education and defense, for the well-being of the people and national security. Professor Datuk Dr Mustafa Mohd Hanefah, Clerk of Economic and Management Cluster Committee (MPN) Committee said that although the Pakatan Harapan (PH)-led government always expressed its commitment to reduce spending, the three main sectors need to be considered for additional allocation. The government needs to see which sectors need to reduce spending, but not for sectors such as health that need to be increased over its provision over the previous year.
Nurul Fasihah Mohd Noor (1152472)
ReplyDeleteComment on Budget 2019 (2 Nov 2018)
In term of budget 2019, the way to contribute to the nations in terms of closing the wealth inequality gap is important to faced. Before that, we have to know about the reason why the inequality have been larger every year?. It is our responsibility to closing gap?. In my opinion, the government have been the great budget in 2019 in terms the cost of living for the poor RM 5 billion. It includes the subsidies of the car and motocycle’s oil RM2 billion for 6.6 thousand people. And for the electric bill, the government have been allocates the electric bill under RM40 will get subsidies. The inequality have been measures with gini coefficient that have ranking zero to one which is the best is smaller number. The gap between the poor and rich are the problem of the economic nations. As we know in 13 May 1969, there has been a riot that causes the economy growth rate down. For me, its not good to the nation by facing this cases. So, for me to live in peaceful life, the people must be united in developing a nation regardless of rank.
Economic Fundamental (15 Nov 2018)
Fundamental is the basic or important to that have to be causes of the changes in the certain things. For the economic fundamental, it can be defines to the something that relate to the condition of the economy growth. There are two principal of economy which are microeconomic focus on supply and demand and prices level, and macroeconomic focus on the gross of domestic, inflation rate, and others (Reference : www.investopedia.com, 2018). In the budget 2019, Federal Government’s debt and liabilities up to end June 2018 stood at RM1.065 trillion, which is about RM350bil higher than the amount officially disclosed by the previous government (Reference : www.thestar.com.my/business/business-news/2018/11/02/budget-2019-economic-highlights, 2 Nov 2018). This liability is the big amount that has been effect to the economic country. So, there is the government job scope to reviewing data of the economic statistics to the performing stability of financial economy.
It relate with microeconomic and macroeconomic. For microeconomic, it explain about examination that effect the economic of industry and company. It also involved about financial data, business competition and also supply and demand of product or service. Usually this are relate with growth domestic product (GDP) economy of a country. Next for macroeconomic, it focus on economic data to see how the performance of growth of economy.
ReplyDeleteDue to the budget 2019 that have laid out by Lim Guan Eng as finance minister, he say that in the budget 2019 is being quite hard because government need to reduce laibilities amounted RM1 trilion to bring county’s economy to the right track fiscal in 3 years.
Some of the government do to reduce liabilities is:
-Cancelled RM15 billion Multi-Product Pipeline and Trans-Sabah Pipeline project. Plus RM18 billion ECRL construction work has been suspended and it cost is being negotiated again.
-Cancelled the RM60 billion MRT3 project until MRT@ project wan completed.
-The implementation of the Kuala Lumpur-Singapore High Speed Rail (HSR) project which cost at least RM10 billion has been suspended.
And one of achievement that government do is success reducing the overall cost of the LRT3 project from RM31.6 billion to only RM16.6 billion.
Hi
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ReplyDelete
ReplyDeleteFundamental economy is a most basic economic and consist of macroeconomic and microeconomic that deal with consumption, distribution and production that use to fulfill scares and demand of consumer and also contribute towards country economic.
Based on budget 2019, BSH will be distribute based on household income. A part from that, people who work in public sector and pensioner also will be given constibution by the government. This budget is made in order to reduce inequalities between the residence and a part from focusing on development, goverment also tried to help people in need.
Nur Atikah Bt Ghazali (1152467)
ReplyDeleteEconomic Fundamental is know as a basic economy for a country which consist of microeconomic and macroeconomic that affect economy at large. It also known as basic qualities that analyze the health and stability position of the economy of the country which include unemployment rate, growth domestic product, demand and supply and inflation. These categories can be applied to analysis of a large-scale economy as a whole or can be related to individual business activity to make changes based on macroeconomic influences.
Budget 2019
As a society we should going to contribute to the nations in terms of closing the wealth inequality gap is by pay the tax and zakat to the government. As we already knew, the rich people should pay more for their tax since their income are higher. So from the tax charge, government can provide an initiative to help the poor. Based on the budget 2019, on the Bantuan Rakyat or BRIM, the government decided to continue the BRIM by increasing the amount that the society will get. Other than that, government should provide more on employment job for the society to decrease the unemployment rate. So by doing that initiatives, it will help the poor and also closing the wealth inequality gap.
Najla Zulkifle 1150578
ReplyDeleteEconomic fundamental in budget 2019
Economic Fundamental can easily understand by basic economic whether in microeconomic and macroeconomic scope. Macroeconomic fundamental include statistics on unemployment, supply and demand, growth, and inflation, as well as consideration of monetary or fiscal policies and international trade. While, Microeconomic fundamentals are more focus on activities within smaller economic segments, such as markets or specific sectors.
Regarding Budget’s Malaysia for 2019, was presented by the Minister of Finance, Lim Guan Eng, has seen like strengthening the medium and long-term fundamentals of the economy. Among the issues a raised are:
•The government has allocated RM5 billion for the Living Assistance Program (BSH) and estimated that 4.1 million households with the lowest 40% income (B40) will receive financial assistance.
•The Government will establish the world's first Airport Real Estate Investment Trust
•The government will introduce a credit system for tax cuts from Jan 1, 2019
•The Government will implement a Small and Medium Enterprise (SME) financing fund by a commercial financial institution of RM4.5 billion with 60 percent from Syarikat Jaminan Pembiayaan Perniagaan (SJPP) Guarantee Scheme.
Hopefully the 2019 budget that has been presented with the theme of 'Malaysia's credible, dynamic economy and prosperity among people' can be implemented well by the new government.
MOHAMAD HAFIZ BIN DARWIN (1150584)
ReplyDeletein my opinion fundamental economic is how the people allocated the limited resources to fullfil all the demand. belanjawan 2019 are one of the goverment ways to allocated their limited fund to fullfil all the citizem demand from the manifesto.
one of the objective belanjawan 2019 are to decrease the inequality gap between the rich and the poor with give the help and more attention to citizen group b40 and the government also increase the minimum wages from RM1050 TO RM1100.
MOHD FAUZI BIN ABDUL TALIB 1150590
ReplyDeleteThe fundamental economic is the basic economy of the country that consist of Macroeconomic and microeconomic . the most basic macroeconomic such as GDP growth rate, inflation rate, unemployment rate and welfare. the fundamental economic ideas contents scarcity (problem of having needs and unlimited wants in a world of limited resources), opportunity cost, factors of production (land,labor,capital goods,entrepreneur), efficiency, utility and value.
in terms to closing wealth inequality gap, government should focus to help citizen especially B40 and the needy with Bantuan Sara Hidup with specifically focus on this group. the objectives of bajet 2019 also want to increase their living standards .
NURUL ATHIRAH YACOB
ReplyDelete1150588
Economics Fundamentals refer to macroeconomic and microeconomics. It indicates the most basic such as economic growth rate, inflation rate and unemployment rate. It describes the economic status of the country which shows how strong the economic, whether it weak or strong.
Professor Azali Mohamad, dean of faculty in UPM said that the 2019 budget present a good opportunity for the new government to strength the fundamentals of the economic sub-sector which need attention. If Malaysian can achieve 5% GDP growth in 2019, it is considered good, as the nation's economic growth is not solely dependent on domestic demand.
Other than that, due to the rising cost of living, the budget 2019 emphasize on effort to raise the disposable income of the people, especially B40 and M40 household.
MUHAMAD SYAFIQ BIN ZAWAWI 1150587
ReplyDeleteEconomics is considered a social science which deals with the production, distribution, and consumption of goods and services. It studies how scarce resources are used to satisfy wants of consumers. Economics also deals with the distribution of wealth
From the perspective of distribution, the first sub-period saw overall income inequality rise. This rise applied to all ethnic groups and to all locations (rural and urban) reflecting, as already indicated the limited impact of the first years of the NEP. The income gap between urban and rural residents increased, but that between the Chinese and Malays remained stable, and between the Indians and Malays low. What we can do is to have better education system and more focusing on NEP rather than focusing on Belanjawan because we need to back to the root of the sources and problem.
ADIBAH IMANI MOHAMAD 1150589
ReplyDeleteThe word "fundamental" itself give meaning of basic. So,when it comes to basic economic, it includes microeconomics and macroeconomics. The related to the fundamental are growth rate,inflation rate, unemploynent and poverty.
Relate to Budget 2019, the government intended to do some budget that will help the poor people and reduces the Gini coefficient in country. The budget is the subsidy of monthly electricity will be given to the poor and hardcore poor registered with the e-Kasih program.
NURHANIM NAJIHA BINTI ROSMAFI (1150601)
ReplyDeleteEconomic fundamental is a
basic of economic which is consists of microeconomic and macroeconomic. Microeconomic is about the demand and supply of a cosumption, distribution and production. While, macroeconomic is an economic as whole. There are four economic fundamental indicator which is growth rate, gini coeficient, uneploymebt rate and exchange rate.
In Budget 2019, the new government have allocate the limited resources to fulfill all the Malaysian demand. For instance, in order to help more investor come in invest to our country, the new government intended to set up an independet panel to have a comprehensive review of cost of doing business for spurring private investment. They also extend reinvestment allowance and accelerated capital allowance.
Some portion of the collected foreign workers’ levies amounting to RM2.8bil per year should be ploughed back into a designated Industrial Adjustment Fund to support automation and technology upgrading.
NURHANIM NAJIHA BINTI ROSMADI (1150601)
ReplyDeleteEconomic fundamental is a
basic of economic which is consists of microeconomic and macroeconomic. Microeconomic is about the demand and supply of a cosumption, distribution and production. While, macroeconomic is an economic as whole. There are four economic fundamental indicator which is growth rate, gini coeficient, uneploymebt rate and exchange rate.
In Budget 2019, the new government have allocate the limited resources to fulfill all the Malaysian demand. For instance, in order to help more investor come in invest to our country, the new government intended to set up an independet panel to have a comprehensive review of cost of doing business for spurring private investment. They also extend reinvestment allowance and accelerated capital allowance.
Some portion of the collected foreign workers’ levies amounting to RM2.8bil per year should be ploughed back into a designated Industrial Adjustment Fund to support automation and technology upgrading.
Nurfitrina Najwa (1150614)
ReplyDeleteEconomic fundamental:
Based on my understanding fundamental has the meaning of basics. Fundamental also describe the economic status of the country, how strong the economy of the country wheter it weak or strong. So the basic economics is macroeconomics and microecomics. There have four indicator for economic fundamental with is inflation rate, growth rate, unemployment and welfare.
In budget 2019 that have been announced by our ministry of finance YB Tuan Lim Guan Eng where one of the highlight is focusing on
Improve job opportunities and market ability. There is the way how they want to improve the economic fundamental of our country.
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ReplyDeleteNURUL SHAHIRAH BINTI MOHD NOR
ReplyDelete(1150599)
Fundamental economic is refer to the basic qualities and reported information needed to analyse the health and stability of the economic. This can include within both the macroeconomic and microeconomic. Macroeconomic fundamentals include topics that affect an economy at large. The indicator that measure the fundamental economic is gross domestic growth, unemployment rate, inflation rate and, as well as considerations for monetary or fiscal policy and international trade. Microeconomic fundamentals focus on the activities within smaller segments of the economy, such as a particular market or sector. This can include issues of supply and demand within the specified segment, as well as the theory of firms, theory of consumers and labour issues as related to a particular industry.
In budget 2019, the government’s concern over various areas, including education, entrepreneurship and aerospace industry, showed that Malaysia’s development will be precisely driven to maintain the country’s economic fundamentals. Lim said Khazanah Nasional Berhad will be responsible for developing 80 acres of land as an aerospace hub and will work with Majlis Amanah Rakyat (Mara) to produce highly skilled workforce to meet the needs of the industry(NEW STRAIGHT TIMES.COM).
Besides, Professor Azali Mohamed, Dean of University Putra Malaysia’s Economic and Management Faculty says, the 2019 budget represent a good opportunity for a new government to strengthen the fundamental of economic sub-sector which need attention. He also add that, if Malaysia can achieve 5% of GDP growth in 2019 it is considered good , as the nations economic growth is not solely dependent on domestic demand (PRESSREADER.COM).
This comment has been removed by the author.
ReplyDeleteNUR AMIRAH SYAZANA BINTI MOHAMMAD NICK
ReplyDelete1150577
Based on my understanding, fundamental economic has two types which are macroeconomic fundamentals and microeconomic fundamentals. Therefore, macroeconomic fundamental is referring to the topics that will give a large affect to the economy such as the statistics of unemployment, Gross Domestic Product (GDP), inflation rate and welfare of the economy. While microeconomic fundamental is focus on the activities of the economy in small segment such as issues of supplying for customer’s demand.
Referring to the Malaysia’s budgets 2019, the government intend to implement the tiered Bantuan Sara Hidup that beginning this January 2019. Therefore, RM1,000 will give to households that earn less than RM2,000. While RM750 for households that earn RM2,001 to RM3,000 and RM500 for those earn RM3,001 to RM4,000. Thus, we can see here that government want to improved the Gini coefficient (Gini Index) which are want to increase the equality of the wealth distribution among the population.
SITI BALQIS BINTI ROSLAN (1152468)
ReplyDeleteEconomic fundamental means anything that needed in order to make the economy of country in a good condition. It includes decision making and cost benefit analysis, division of labor and specialization, economic institutions, economic systems, incentives, money, opportunity cost, productive resources, productivity, property rights, scarcity, trade exchange and interdependence. Every country will always include this aspects in order to make decision regarding their country. Malaysia Budget 2019 is one of it.
Muhammad Muqri Bin Muhammad Zaki
ReplyDelete1150608
Fundamental economy is describe activities and principles that are very essential toward development of the certain country as well. It affect all of the basic nature of economy in the country whether microeconomics or macroeconomics sector. All of the indicators such as unemployment rate, gdp and others are very important to calculate the effectiveness of economy whether it strong or weak.
Education is important in build a competitive society for our future. After buget 2019 announced, there were many changes in the allocation of money in different sectors. In my opinion, the government should allocate more money in the education sectors as a investment for our better life in future. If the government take this action, Malaysia will produce a better society and skillful person. If there have many skillful person in certain sectors, we can cut the cost to get a professional labor from outside.
NURNADIATUL ADIBAH BT RADZULAI (1150611)
ReplyDeleteThe word fundamental has the meaning of basics. Economics fundamental is indicates the most basic macroeconomic indexes such as statistics regarding unemployment, supply and demand, growth, and inflation, as well as considerations for monetary or fiscal policy and international trade. Economics is a science that studies how humans distribute limited economic resources to meet unlimited human needs.
In budget 2019, the government do initiatives to help the B40 group to cope with the rising living costs starting with cash grants for the B40 households via Bantuan Sara Hidup (BSH). Households with monthly income of RM2,000 and below to receive RM1,000 financial assistance with 4.1 million households expected to continue receiving financial assistance with a RM5 billion allocation in Budget 2019. Along with cash aid, other measures to help this target group include raising the minimum wage to RM1,100 in Malaysia effective from January 1 next year and also including elderly in this category. Hopefully that way can helps the nation to close the wealth inequality gap.
Siti Nurul Athirah Binti Ahmad (1152104) KMD
ReplyDeleteAccording to a 2014 Pew Global survey, 77% of Malaysians think that the gap between the rich and poor is a big problem. The government has acknowledged that inequality remains high, and that tackling these disparities will be Malaysia’s “biggest challenge” in becoming a high-income nation.
How can Malaysia narrow the gap between the rich and poor? The first and most important is to provide equal opportunities through education. When more workers have high skill levels, inequality in wages decline. Similarly, when entrepreneurs from disadvantaged backgrounds have the skills and resources to succeed, it is less likely that high-earning employers will always come from among the better-off.
All Malaysians must be equipped with the skills to command high wages in the labor markets. While nearly all Malaysians have a secondary education, inequality at the post-secondary level is high: only 5% of young adults from the bottom income quin tile earn a Bachelor’s degree, compared to 40% from the top.
A more progressive tax system would also help. The top marginal income tax rate (25%) is low compared to most OECD countries. More progressive taxation would enable the government to finance an expanded social safety net that is more consolidated, better targeted, and better aligned with the needs of lower-income groups – while maintaining fiscal sustainability.
NUR HAMIZAH BT HASSAN (1150585)
ReplyDeleteFundamental economy is about the structural and component involving the analytical frameworks approach on how to enjoy a stable economic environment. Basically the main or biggest challenge facing the country is the growing gap between actual growth rate and the projected growth growth rate required to achieve the targets of government to shift Malaysia from middle class income to high income economy by 2020.
Based on budget 2019, government provide minimum wage increase to RM1100 nationwide and government will continue and improve the financial aid(bantuan sara hidup) to the b40 group by providing more targeted assistance. Other than that, government estimated that 4.1 million household will continue to receive financial assistance with a total allocation of 5 billion. This highlighted budget show that government try to increase the allocating expenses on the household as they are struggling with the financial crisis
Dear All,
ReplyDeleteThank you for the update. Please go through all answers.