Economic development Coursework Example | Topics and Well Written Essays - 500 words - 1

Financial turn of events - Coursework Example This perusing centers around the financial improvement in Africa through farming exercises. This considers the utilization of demonstrated horticultural procedures so as to expand the yields for food security purposes. The basic difficulties looked by African ranchers involve soil weariness, water inadequacy and contorted financial matters caused lacking foundations. This suggests the poor soil ripeness frustrates the development of certain harvests. This is on the grounds that the neighborhood ranchers participate in over cultivating and inadequate yield revolution. The presence of poor foundations adds to high creation costs on the grounds that the rancher can't get to composts and different information sources. Thus, consistent water shortage because of occasional dry season spells likewise influence Africa’s horticultural segment. This perusing examines the populace blast in creating countries, paying little mind to the great conditions. The creator investigates the populace development pace of Kenya in which it rises that grown-ups are allowed to bring forth any number of youngsters. The individuals couldn't care less about the accessibility of human services offices, food or different angles. The populace blast idea undermines mankind because of scramble for space, assets and financial exercises. The Maragoli narrative portrays the battles of ladies over the world since they can't control birth rates. The underlining part of the narrative is that, in all actuality, populace increments, however the conveniences continue as before. The focal point of this perusing is the formative test of political and criminal savagery. It handles the contrary impacts of the two perspectives, for example, decimation of property, demise, removal of individuals and financial stagnation among others. For example, kids raised in unfriendly situations experience the ill effects of malnourishments and absence of education. The thousand years improvement objective (MDG) venture has been not able to accomplish its targets of elevating the expectations for everyday comforts in

Developed Nations and Underdeveloped Nations Economic Growth

Created Nations and Underdeveloped Nations Economic Growth Estimating the hole of Economical Growth between the Developed Nations and Underdeveloped Nations (Utilization of Winter Forecasting). Muhammad Bilal Writing Review: In 1981 road of Beijing, China was loaded up with walkers, bikes, a couple of vehicles and little structures. After thirty years a similar road having car influx of vehicles and high rises. How this city changed into a super city having underground train stations, cutting edge innovation and elevated requirements of living. This is the impact of support and fast financial turn of events. What is financial turn of events? furthermore, how we can get these surprising outcomes out of it. During the discourse of 1949, US President Harry Truman, distinguished the principle worry for the west is improvement of immature locale. The term Economic Development is commonly utilized in numerous different interchangeable terms, for example, monetary development, financial government assistance, mainstream change and financial advancement. Financial turn of events, as it is currently commonly comprehended, incorporates the advancement of farming, industry, exchange, transport, methods for water sy stem, power assets, and so forth. Monetary improvement has been characterized in various manners and as such it is hard to find any single definition which might be respected completely palatable. Financial improvement applies with regards to people groups feeling of ethics (Normative Concept). Michael Todaro characterizes financial improvement as an increase in living expectations, confidence and opportunity from uncalled for exercise of power just as a more prominent choices. Differentiation was drawn between ways of life (emotional or esteem based idea of financial turn of events) and levels of living (goal and truth based idea) in article International Definition and Measurement of Standards and Levels of Living (UN, 1954). Positive financial aspects or levels of living can be tried. So we can say that financial improvement is the quantitative and subjective changes in the economy. Monetary advancement is total of activities of strategy creators and networks that empower the way of life and financial wellbeing. Such activities can include numerous measurements including improvement of human capital, basic foundation, territorial intensity, ecological manageability, social consideration, wellbeing, security, proficiency, and different activities. Monetary turn of events and financial development are distinctive idea. While monetary advancement worry with approach mediation which began in outcome of war the reproduction began by the US. The financial advancement of a country or mankind is commonly connected with developing wages and related increments in utilization, speculation, and reserve funds. These focuses are plainly open to discuss. Word reference of Economics’ article on Development Economics, Bell (1989) used the pioneer and newbie as a sorting out structure given that free nations begin as poor in our current reality where by then rich country. Financial advancement was outwardly seen as a procedure where tenderfoot draw nearer to pioneers. Per capita pay can be use as intermediary for estimation of improvement as different social markers for example instructive achievement, wellbeing, and so on. As examined above, it is reasonable to get to the heart of the matter that global associations way to deal with ‘development construct’ are in an unexpected way. One legitimization for this assortment of idea is that financial hypothesis doesn't provide any guidance to that issue. Albeit another clarification is that each association has their own particular command along these lines may move toward this issue with various mentality and observation. Financial advancement alludes to an upward pattern in genuine national yield over a significant stretch. Despite the fact that the upward pattern implies that each progressive recurrent pinnacle and trough is for the most part at a more significant level of genuine national yield than the former pinnacle and trough separately. There is a positive connection between the genuine national pay and financial turn of events if every single other thing continue as before. Higher genuine national pay of a nation is viewed as a sign of higher financial turn of events and the other way around. In Short it is suggests that the genuine national pay is a decent device for estimating financial improvement of a nation. Anyway it could be an insufficient device for estimating monetary turn of events, however it tends to be utilized for worldwide advancement correlations among countries. Buying intensity of national pay ought to be considered while evaluating financial turn of events. There is another technique (HDI) for estimating advancement which considers the proficiency rates and future which influences yield and could bring about Economic Growth. It additionally involves raise in the per capita pay. Monetary improvement prompts the financial development which is an important condition yet not adequate and we can say Economic development follows a wide range of ways, and not every one of them are supportable. Unquestionably, there are various analysts who contend that globe has constrained assets so any type of financial development is at some point or another unreasonable. Monetary Growth doesn't consider the decrease in regular assets which may prompt nursery gasses, congestion and sicknesses. Advancement anyway is worried about supportability which means meet the necessities of the present with no trade off on future. Starting now and into the foreseeable future we investigate what precisely Economic Growth is and will experience a few proportions of it. Financial development is the expansion in the limit or increment in the market worth of the products and enterprises delivered by a nation over period. Financial development pointer like GDP is utilized to look at economy of one timeframe to another or one nation to other. It is generally determined in ostensible term (which implies swelling balanced GDP), the proportion of GDP to populace; it is likewise called per capita salary. - Economic development is a procedure wherein nation accomplish high genuine national pay in significant stretch of time. There are a couple of ways to deal with measure Economic development. The reality ought to be consider while utilizing Economic Growth as intermediary for monetary advancement that it doesn't think about the casual economy otherwise called the dark economy. Advancement improves the ways of life and legitimate work with proper safe house. Therefore, also known financial specialist Amartya Sen brings up that Economic Growth is a bit of the enormous riddle the monetary turn of events. During the time of high swelling the Growth rate might be a lot higher. The reality ought to be viewed as that development rate (in present moment) additionally rise and fall with business cycles. Financial blast went with the rising expansion which is trailed by downturn. It has been seen by analysts that Developed nations have higher GDP per capita (Easterly 2002). It is contend that GDP per capita may increment because of the addition in livelihoods of more extravagant gatherings in the general public so we can say that per capita GDP development may not diminish the neediness or cultural turn of events. It is seen by Dependency scholars that poor countries now and again experience monetary development with unobtrusive or no financial improvement activities. There are numerous pointer of financial development like Increase in the capital, progress in innovation, and charm in the quality and education Rate are viewed as the fundamental components of monetary development. As of late the possibility of reasonable development has acquired extra factors. Immature countries which are not utilizing their assets completely and having lower vocation, low Human Development Index (HDI) when contrasted with different nations. A GDP that is developing at a high rate is believed to be most prominent sign that an economy is creating and flourishing. This is the explanation countries like China and Brazil were considered so significant in 2010s. It wasnt by virtue of they had been able to be major monetary force it was on the contention that they were made a beeline for end up major budgetary forces in light of their high GDP advancement rates. So countries normally remain educated with respect to how quick various countries are creating to envision (depict a potential future occasion) what the overall economy will resemble later on. Powerful economies need to know who their new foes will be. Total national output (GDP) is a kind of money related device that is utilized by governments and financial experts as a strategy for estimating monetary development in a communicated period. Generally, the estimation of GDP is utilized on account of its importance in the figuring of how well the economy is performing. T aking everything into account, the relationship in the between the GDP and monetary development is the way that GDP fills in as a strategy for concentrate how an economy is acting. Gross domestic product attempts to measure the total usage of asset inside the economy. Despite the fact that, GDP is a section proportion of the various highlights of our cutting edge economy. The most notable hold back went for GDP is that it tells us negligible about our general or individual money related government assistance. Advancement concerns keeps an eye on material needs as well as the improvement of the social state of his life. Advancement is, along these lines, financial development, yet development in addition to change in social, social and institutional just as monetary. This definition includes financial and non-monetary parts of advancement the main issue of this definition is that quantitative and subjective changes being developed factors are viewed as fundamental elements of financial turn of events. Hence, we can infer that monetary improvement is a procedure as opposed to the consequence of it which brings about an ascent in genuine national pay, and the net national item should have a supported increment i.e., it must be over a significant stre tch of time. How would we build an arrangement framework dependent on nations advancement achievement? The World Bank and the IMF approach this issue in an unexpected way. Do elevated levels of GDP fundamentally compare with high

Hercules in the Classical and Post Classical Depiction

In the traditional portrayal of Hercules, key subjects of Redemption and enduring go inseparably and are available all through. At the point when Hera (Zeus’s spouse) drives Hercules to frenzy she sends him to fiercely kill his own significant other and children. Hercules is overpowered with a feeling of ‘blood guilt’ and enduring and sentences himself to oust. He at that point looks for the Delphic Oracle’s help, she discloses to him that he is to finished 10 works for King Eurystheus so as to reclaim and free himself of the blood blame and enduring and turn into an undying (APOLLODORUS, LIBRARY 22. . 12. ) enduring makes saints like Hercules relatable to the human crowd and while Hercules is a demi god making him quicker, more grounded and more lithe than some other legend he stays human in character. No assignment of Hercules is a simple one however he is eager to experience these burdening undertakings so as to make up for himself and set things straigh t. In the post traditional portrayal Disney’s 1997 film Hercules-those topics of recovery and enduring are not all that present rather subjects of magnanimity and genuine valor are strong.Hercules is introduced as Zeus AND Hera’s child and is a full god-until Hades harms him, taking everything except his quality. He is regarded mortal and lives with his received family in Thebes. Hercules starts the 10 works so as to recover his everlasting status and live on Mt Olympus with different divine beings. As Hercules starts endeavoring and finishing the works he turns out to be to some degree a superstar with the humans and they start to revere him.But the works alone are insufficient to make him undying, he needs to show genuine benevolence and be happy to forfeit himself so as to spare another. At the point when Hercules plunges into the pool of spirits in Hades’ black market to breath life into Megara back he chances kicking the bucket to do as such and just this i s sufficient to be a genuine saint and recapture him his eternality. Parts of Hercules’ story have been adjusted to suit the watchers and be age proper yet the subject of gallantry has been predominant in the two delineations and that is on the grounds that Hercules himself was a genuine legend.

American women's rights Essay Example | Topics and Well Written Essays - 750 words

American ladies' privileges - Essay Example The historical backdrop of humankind is a past filled with rehashed wounds and usurpations with respect to man towards lady. The white collar class elites felt embarrassed about themselves of the social states of poor people and in this manner taken the social obligation unequivocally from their long conventions for the progressives to be comprehends poor people. The drive spread from ranchers to legislators to invest the energy to change. In this manner Roosevelt turned into the main president to help the work and relegated the administration an immediate job and obligation to all the individuals. The new women’s schools were opened and there the female reformers were instructed. These females who were white working class young ladies dealt with the â€Å"problem â€Å" of Immigrant, who established â€Å"dark skinned† Italians, laborer Jews and foreigners from southeastern Europe. The white collar class ladies were banned to have the expert instructive capabilities seek after Consumer’s League, and â€Å"Americanizing† focuses known as settlement houses. These associations focused to clear off the defilement and bad habit reared by the men their vocation. In this way, the ladies framed into gatherings and had fabricated themselves as relationship to take dynamic part in the open life. A portion of the affiliations are Women’s Trade Union League, the Women’s Christian Temperance Union, and the National. Alluded as â€Å"women of achievement†.The ladies prevailing in their battle to get the option to cast a ballot. Be that as it may, their clash of testimonial went on for whatever length of time that from 1848 to 1920, in the year 1920 nineteenth amendment conceded 26 million ladies, half of the countries populace, the option to cast a ballot. ... The Civil Rights Law of the 1960s was venturing stone for the individuals who battled for America's guarantee of equivalent rights for all. The creation of the English regular workers and the ascent of deferential society. The Virginia Declaration of Rights was a report announcing that singular normal rights are inborn, and calling for American freedom from Britain5. The development of ladies, for testimonial started at Seneca Falls. The American Society tested seriously the endeavors of ladies that they can't cross the limit of men. However, as the circumstance delayed, the ladies got instructed, and their development ended up being a decent one. By 1910, the development formed into a mass development. In England too it was a similar condition, the ladies were forceful to clear out their tragedies and were conveying their development for key rights. In both the countries, by 1919, the Amendment Act was passed for ladies giving their entitlement to cast a ballot. Dark history has been eclipsed by white understanding for an exceptionally significant time-frame, even in areas where the dominant part populace was dark. Visit a Southern manor and you will find out about the way of life of the proprietors, however almost no about the slaves who made that way of life possible6 Detroit, the city was known as the arms stockpile of Democracy during the Second World War. The city of Detroit required countless works who originated from Africa. They were not given convenience and like this the mobs emitted which went to be the bloodiest throughout the entire existence of he country. This racial clash has started long past in 1863 and kept going till 1941. The racial uproars have a long history in Detroit.

How to Write a Composition Essay on Your Senior Year of High School

How to Write a Composition Essay on Your Senior Year of High SchoolHow to write a composition essay on your senior year of high school? The search for answers often arises due to some huge gap that pops up between your confidence as well as your ability to complete assignments.Composing an essay is a skill that one has to develop. You have to be able to transform the contents of an essay in order to make it come out as a coherent and organized piece. The contents of an essay need to be properly organized, planned and edited before it's actually given to your teacher. It's also important to note that the more you know about the subject, the better you are at composing essays.In order to learn how to write a composition essay on your senior year of high school, you need to sit down and analyze your weaknesses and strengths. With this analysis, you will be able to know what kind of essay to write on your college admission test. One of the main problems that most students encounter is to find an adequate topic to write about. Sometimes, they end up just trying to use the famous topics and names from their lives and that results in a lot of useless facts, some of which might even contain plagiarism.In this case, how to write a composition essay on your senior year of high school will depend on how you plan to use your topic. You have to be aware that if you were really talented with art or music, for example, there is no way that you can write an essay on one of your subjects. On the other hand, if you already have a lot of experience in writing on your subject, you can probably move on to writing a complex essay on your topic.When learning how to write a composition essay on your senior year of high school, you have to be sure that the topic you choose is really a good one. You're going to write an essay on a certain subject, choose that subject first and then you will start to think about how to write a composition essay on it. The research you conduct before writ ing your essay is very important.You should always do your research before starting to write your primary subject. You have to figure out all the answers to the questions that you may have about the subject and you should also consider the depth of your knowledge about the subject. Doing so will help you identify the parts of the essay that you should work on and where your knowledge is lacking.If you're planning to write about the hardships of school life, then you need to give serious consideration to what your audience wants to hear. If they are writing the essay to gain admission to a college or university, then it's a must that you write about how you have benefited from your school experience.If you want to learn how to write a composition essay on your senior year of high school, you have to plan it carefully. Keep in mind that your topic must be relevant to the main theme of your essay and that you should never mention something that would create a complete lack of focus in your essay. That is to say, never mention something that will spoil the theme or weaken the thesis statement.

The Weak Form Efficiency Finance Essay - Free Essay Example

Fama, after the publication of his world renowned article in May 1970 he is known as the godfather of the efficient market hypothesis (EMH). It all began when he submitted his Ph.D. thesis which entitled Efficient Capital Markets: A Review of Theory and Empirical Work. In that paper he defined the concept of accurate market efficiency. EMH allows that when there is new information available, some of the managers or the investors may overreact and some of them may underreact with the change in the new information. The main requirement of the EMH is to ensure that the managers (investors) reactions are random, which means the pattern of the results on net effect on market prices cannot be exploited by the managers (investors) for an abnormal profit for their company. So that it has random walk. Therefore if someone makes a profit from a share everybody can make a profit from it and if someone makes a loss then everybody makes a loss on that share. Fama came up with three forms of efficient market hypothesis. They are: weak form efficiency, semi-form efficiency and strong form efficiency. These three forms have different kinds of explanation how the markets run. 1- Weak Form efficiency- The price of the share cannot be predicted by the investors by analysing from the past results or by past series. It is quite i mpossible to gain abnormal profits by analysing the future price of the share, by any managers investment strategic or by historical results. The price of the share cannot have any series results, which means the results of the future price movement is predicted by the information which does not have any past results or past series. The price of the future result must have a random walk. Figure 1 show that it is quite impossible for the managers to predict the future price as the price the share is constantly moving. Fiqure-1 2- Semi Form Efficiency- It states that the price of the share cannot be manipulate by publicly available information in a very unbiased fashion, so that no extra profit can be made by the managers (investors) by studying all the public information. The adjustments of the information to the public must be reasonable size so that no one can manipulate the price of the share. If there is any such information then it will suggest that the information has been provided to manipulate the price of the share, which means the provider has acted in an inefficient manner. Figure 2 shows that the results after the public announcement. Fiqure-2 3-Srong Form Efficiency- It shares all the information with the public and with the investors but it makes sure no one can get any extra profit with the available information. There can only be a legal restriction on providing all the information to the public with the fear it may be manipulated by inside trading, or sharing the information. The market has to be fair so that the managers (investors) can earn extra profits for long period of time. In 1996 and in 2008 Dhaka Stock Exchange saw a massive blow in their Stock Exchange by not controlling the information, which resulted of inside trading. Figure -3 shows even though the results at the end are consistent but it is difficult for long term to predict for the managers (investors) all over the world. Figure- 3 PART -B Introduction The most important issue in finance research and interest is the efficiency of financial markets. When money is put in the market by the investors their aim is to generate the return on the capital invested as quickly as possible. Efficient market is where the market price is unbiased to estimate the true value of the investment. There are several key concepts: Market price and the true value do not have to be same every time. Examples Price of the outcome can be greater or less then the true value as long the deviation are random. Facts of the results of the deviation of the true value are random, which means there is a chance the value of the stock is undervalued or overvalued. No investors can be able to find the consecutive outcome of under or over value. Analysis Positive signs tend to proceed from good financial reports from a company. That is the reason why the technical patterns makes the move forward and anticipate the fundamental reports. Brock et al (1992), Technical analysis offers the investors with the opportunity of responding in real-time to a stocks behavior in which the investors do not have to wait for the next report from the company. Brock et al (1992), Fundamental analysis looks at the financial statement of the company .Therefore the investor can make a decision for the investment by the past financial statement. Efficient markets theory describe the price of an assets must show all the information that is available about the core value of the asset. Almost every form of the financial securities covers in efficient market theory (EMT) but except one kind of security which is being well discussed, shares of common stock in company. Theoretically, the investors get encouraged by the actuality of undervalued or overvalu ed stocks. That is the only reason there is a change in price of current value of future cash flow. Investment analysis looks at the mispriced stocks and that makes the market more effective which causes the price to yield the core value. The efficient market has to be random so the new information is random as well (favorable or unfavorable), which results in random walk in stock prices. This drives the investors not to invest heavily because there is no certainty of the returns as the price reflects the core value. In two ways the informational efficiency matters in stock prices. They are: investors care whether various trading strategies can earn returns and if stock prices reveal all the information accurately. To differentiate among the three forms of market efficiency it is easy to say that weak form stops technical analysis from being profitable, while semi-strong form stops the profitability of both technical and fundamental analysis, and strong form results, that even th ose with inside information of the company cannot expect to earn excess returns. Evidence for and against the Efficient Market Hypothesis Weak form efficiency A) The day of the week effect Cross (1973) and Gibbons and Hess (1981) elaborated that share prices fall on Mondays and rise on Fridays. However Dickinson and Muragu (1994) studied that the Nairobi Stock Exchange and found out that the day of the week effect does not affect the small stock exchange. Therefore it can be said the EMH is preferable in most of the stock exchanges in the world as it is not easy to predict by the outcome by the managers (investor) to invest in any stock exchange. B) The January small firms effect EMH face the challenge when January effects comes around, Keim (1983) sttes that US stock market studied that not only the return on stocks in January is high in relation to other months but the returns of small company stocks perform better in the month of January. Burton Malkiel, asserts Wall Street traders now joke that the January effect is more likely to occur on the previous Thanksgiving. Therefore it can be said even though the firms benefit from th e seasonal effect but there is no certainty with the actual result. The investors may think to invest more in December but they do not know the actual results. Semi strong Efficiency A) The price earnings effect Basu (1977) studied from 1957 71 the portfolio of different price earnings ratios ( P/E ) and the result was that the return on company stocks with low P/E ratios is much higher than the return on companies with relatively high P/E. In (1993) Fuller examined series of test but still got the same result but he found out that the result is not the same for the superiorly low company. Therefore it can be said though price earning effect can occur in stock market but it does not mean it will be for every low company. The investor will struggle to invest in that company because the low profile company results always different. B) The size effect Banz (1981) studied that the period of 1936 77 the excess return from holding stocks in the small company compared to the large company by 19.8 %. The firm size effect was as accurate as the firms betas in explaining the excess return which clearly contradict with the EMH. However some author urged that the r esults from the small firms are too low to evaluate their historical results. Strong Form Efficiency A) The Directors/Mangers share purchase Jaffe (1974) studied that the managers and the directors earn excess return from their trade, with all the information of inside which is contradictory with strong -form EMH. After the early 2000 scandal the US government and the NASDAQ implemented that the directors of the company has to be independent so that no information on inside trading. As the directors are independent there is no chance of getting any inside knowledge about the company by the investors. B) Information content of analysts forecast Elton (1986) studied that excess return can be earn once due allowance had been made for risk by buying upgraded stocks or stocks that were in a higher classification and selling downgraded stocks or stocks in a lower classification. However it needs a certain warranty before the trading on a brokers recommendation. Therefore the investors need to accelerate their trade because there is no certainty with the information. Conclusion- In fundamental way the prices may differ from long and slow movement but in two ways EMT is still useful. 1) For shorter period, examples as days, weeks and months. EMT can explain the movement of stock price changes with considerable evidence. That is the answer of stock prices to all new information reasonably the change in the core value of the assets.2) EMT serves as a scale for how prices should move if capital investment, funds, assets are to be allocated efficiently. All the outcomes depend on the transparency of information, the effectiveness of regulation and the prospect of rational arbitragers will drive out noisy investors. In fact the informational efficiency of stock prices moves across markets to markets and country to country. Whatever the outcomes of capital markets, there is no better alternatives of allocating investment capital. In fact most countries have recognized it for their future goal. Critics may say that an EMH passionate would not pick up a hundr ed dollar note from the road because according to the EMH, that note cannot be there, either the note is fake or somebody must already have picked it up. EMH can make investors miss some investment opportunities on their investment, but it will also protect the investors from hidden and unknown risks.

Identify Opportunity Costs

Unlike most costs discussed in economics, an opportunity cost doesnt necessarily involve money. The opportunity cost of any action is simply the next best alternative to that action: What you would have done if you didnt make the choice that you made? The notion of opportunity cost is critical to the idea that the true cost of anything is the sum of all the things that you have to give up. Opportunity cost  considers only the next best  alternative to an action, not the entire set of alternatives, and takes into account all of the differences between the two choices. We  actually deal  with the concept of opportunity cost every day. For example, options for a day off work might include going to the movies, staying home to watch a baseball game, or going out to coffee with friends. Choosing to go to the movies means the opportunity cost of that action is the second choice. Explicit Versus Implicit Opportunity Costs Generally, making choices includes two types of cost: explicit and implicit. Explicit costs are monetary expenses, while implicit costs are intangible and therefore hard to account for. In some cases, such as weekend plans, the notion of opportunity cost includes only these forgone alternatives or implicit costs. But in others, such as a businesss profit maximization, opportunity cost refers to the difference in the  total of this type of implicit cost and the more typical explicit monetary cost between the first choice and the next best alternative. Analyzing Opportunity Costs The concept of opportunity cost is particularly important because, in economics, almost all business costs include some quantification of opportunity cost. To make decisions, we must consider benefits and costs, and we often do this through marginal analysis. Firms maximize profits by weighing marginal revenue against marginal cost. What will make the most money when considering the operating costs?  The opportunity cost of an investment would involve the difference between the return on the chosen investment and the return on the other investment. Likewise, individuals weigh personal opportunity costs in everyday life, and these often include as many implicit costs as explicit. For example, weighing job offers  includes  analyzing more perks than just wages. A higher-paying job isnt always the chosen option because when you factor in benefits like health care, time off, location, work duties, and happiness, a lower-paying job might be a better fit. In this scenario, the difference in wages would be part of the opportunity cost, but not all of it. Likewise, working additional hours at a job offers more in wages earned but comes at the expense of more time to do things outside of work, which is an opportunity cost of employment.