Macroeconomics Eco/360. Essay

774 words - 3 pages

MacroeconomicsMacroeconomics is the study of the economy as a whole, which includes inflation, unemployment, business cycles, and growth (Colander, 14). In today's society, Americans rely on having the option to have multiple service providers for their home or office. Several businesses especially those who work nationally or internationally with other businesses, try to find the inexpensive and new innovative ways to reduce cost. I currently work for a metals distribution company called Integris Metals, which is partially owned by Alcoa. We service thousands of companies worldwide. We have offices and distribution centers throughout North America and Canada. In an article I read in the Economic Times dated June 02, 2004 talks about how Alcoa the main producer of aluminum in the world which serves the aerospace, automotive, commercial transportation, just to name a few along with other industrial markets is planning to cut about 130 jobs in the United States next year and relocate these data processing jobs to India in a bid to cut cost.The reason for the reduction and relocation in jobs for Alcoa will be done in an effort to generate $1.2 billion dollars in annually efficiencies over the next three years. In December the company had just completed a three-year campaign to cut cost by $1 billion dollars. The article states that about 70 to 80 contractors and salaried employees at Alcoa's North American Data Center in Upper Burrell, will be affected along with approximately 40 salaried employees and 15 contractors who process accounts payable and receivable at the company's Business Services Center on the North Shore. Alcoa operates in over 350 locations and employees over 120,000 employees in 41 countries. The article states that the job cuts will reduce Alcoa's regional work force by approximately 6 per cent.The topics of supply and demand are very important in the economic aspect of business. Supply is a schedule of quantities of goods that will be offered to the market at various prices (Colander, G-9). The supply and demand for this industry is enormous. There is a great supply of aluminum, which can be provided by one of the thousands of providers. Demand is the schedule of quantities of a good that will be bought per unit at various prices (Colander, G-2). The demand is also great in...

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