Child family relationships in Praise Essay Example for Free

Kid family connections in Praise Essay The association between relatives is bond as solid as Titanium and adaptable as flexible, in certainty a wide range of artists speak to their contemplations and feelings through their sonnets. Here, we are presented with two sonnets that are an honor to the guardians of two writers, by Grace Nichols, and Stephen Spender, with their sonnets Praise tune for my mom and Childhood. The two sonnets contain a vigorously nostalgic tone all through the sonnets, using this I have set up that the artists are endeavoring to convey their recollections through the sonnets. High-roller, however he named the Poem My Parents has minimal evident connection to the sonnet at face esteem other than the beginning sentence of the principal refrain My folks kept me from kids who were harsh where he nearly has undertones of reprimanding them for division from what they thought were lesser residents, he will in general allude to the youth he lived as a little fellow who was tormented headed to and from school. Anyway when one dives further into the sonnet and endeavors to figure out the real story the peruser can get a tone of fault, a tone of disdain and a hint of distress! It would appear like Spender, through his composition, is uncovering his disdain towards his folks for separating him from his companions, shielding him from this present reality and being overprotective! Possibly vainglorious as the sonnet likewise alludes to the youngster being of a higher class than the harsh children. However in the sonnet Childhood the artist isn't alluding to his folks, yet his very own Aunt; it appears that Cornford is attempting to depict the obliviousness of his childhood when he says in the initial line of the main refrain I used to believe that adult individuals as adult isn't a term utilized by one who is of middle age or in their adolescent years. The writer doesnt appear to have that nearby a relationship with his incredible auntie Etty by the manner in which he depicted the old all through the sonnet earlier veins like little fat snakes . The sonnet likewise shows how the kid develops in time, before the finish of the sonnet the peruser can perceive that the writer presently completely comprehends the procedure old enough with the statement I realized that she was weakly old. As I was vulnerably youthful. My Parents, when you burrow profound shows both how the child rearing of white collar class youngsters could regularly prompt tormenting as they planted the suggestion that the lower class kids where not good or genuine individuals as it were of pride. The artist shows this through creature symbolism ran in the road, dreaded more than tigers, they sprang out lastly Like mutts to bark at my reality. It likewise shows that the creator somewhere down in his heart appreciated these young men for their indiscretion and cross section with their general surroundings as opposed to himself who maintains a strategic distance from such things, this is appeared by the statement I ached to excuse them (which could likewise identify with his folks) yet they never grinned:. Adolescence is significantly progressively essential in its message, that being that the numbness of youth frequently prompts their life being squandered on insignificant things; what is very astounding is the way the creator has utilized the progression of the sonnet to show the development of time itself, when he has arrived at the finish of the sonnet he had understood the unavoidable truths that apply to everyone, in that way he had developed from the puerile obliviousness that was depicted in the underlying phases of the sonnet. To express the undeniable the two sonnets have less likenesses contrasted with other such sonnets, anyway both do identify with family and the youthful creator or character endeavoring to get a grip on the current circumstance whether it be the reason his folks are transforming him into an evident contemplative person to those at school which prompts harassing of him or the secret of mature age to a little youngster.

Determining the concentration of Vinegar Free Essays

1. Spot an electronic scale on a level surface and put a 50g load on the scale and adjust 2. Measure the heaviness of tapered carafe 3. We will compose a custom article test on Deciding the centralization of Vinegar or on the other hand any comparative theme just for you Request Now Precisely measure a mass of KH(C8H4O4) close to 5g, setting it in a 250ml cone shaped jar 4. Record the perusing from the scale, deduct the heaviness of conelike cup estimated in sync 2 5. Break up KH(C8H4O4) in a cone shaped jar with least volume of refined water 6. Move the arrangement from the funnel shaped cup into Standard Solution 1. Utilize an electronic parity equivalent to three decimal spots to precisely weigh out in a 250ml container a mass of KH(C8H4O4) around equivalent to 5. 005g. Record this mass. 2. Break down the KH(C8H4O4) in a base volume of refined water in a recepticle. 3. Subsequent to washing the 250ml volumetric cup with refined water, flush with more refined water. 4. Move the arrangement from the measuring glass to a volumetric carafe utilizing a pipe. 5. Wash all hints of the arrangement from the measuring utencil and pipe by flushing the recepticle and channel altogether with refined water from a wash bottle into the volumetric jar. 6. Whirl the arrangement in the volumetric carafe however don't transform. 7. Include more refined water until the base of the meniscus is lined up with the adjustment mark. To guarantee exactness utilize a nipple pipette to include the last hardly any milliliters of refined water. 8. Plug the flagon and alter a few times to blend the substance and accordingly guarantee the arrangement is of uniform fixation all through. Normalization of Sodium Hydroxide 1. Set up the burette and load up with the sodium hydroxide answer for 50ml. 2. Pipette the KH(C8H4O4) arrangement into a funnel shaped jar. Utilize three drops of phenolphthalein as the marker. 3. Titrate cautiously until a shading change from dry to pink is watched. 4. Play out an unpleasant titration first, at that point rehash until 3 concordant titres are acquired. The most effective method to refer to Determining the grouping of Vinegar, Papers

Muhammad Ali Essays - Boxing, Sports, English-language Films

Muhammad Ali Muhammad Ali, initially Cassius Marcellus Clay, in the course of his life got truly outstanding and most dubious games figures ever. His forthright mentality and commitment to the Muslim religion made him a good example for some individuals. Maybe the most amazing thing he did was changing is name to Muhammad Ali after turning into a Muslim. Ali, at that point despite everything passing by Cassius Clay, first came to world consideration in 1960, when he won the Olympic light-heavyweight title. After his astonishing triumph over at that point heavyweight champion Sonny Liston in 1964, he created a constant flow of features. He was the primary fighter to profit by worldwide TV, making him even more obvious to the world. In his second battle with Liston, more contention emerged over the way Liston went down and remained down in the underlying round. Ali, be that as it may, end up being a battling champion, acknowledging the demands of each heavyweight he got an opportunity to battle. He was deprived of his title in 1967 for declining military help on strict grounds during the Vietnam War. He asserted, If doing battle, and conceivable kicking the bucket, would help twenty-2,000,000 blacks in this nation gain opportunity, equity and fairness, I would join tomorrow. He additionally said that he would not help slaughter needy individuals in different nations when it is going on to his own kin in America. He was permitted to continue battling in 1970 and had his intrigue of conviction maintained by the U.S. Preeminent Court in 1971. Ali recovered the title in a 1974 session with George Foreman. He lost the crown again in 1978 to Leon Spinks however recovered it that year, in this manner turning into the principal man to win the title three times. Other than Joe Frazier and Spinks, the main fighters to crush Ali, who had a 55-5 record, were Ken Norton, who later lost to Ali; Larry Holmes, who thwarted Ali's go after a fourth heavyweight title; and Trevor Berbick, who crushed Ali after a fizzled endeavor to make a rebound. After his battle against Berbick, he declared his retirement.

Strategic Management Information Service Segments

Question: Depict about the Strategic Management for Information Service Segments. Answer: Presentation The report mirrors the instance of an Australian organization, Telstra where it conceivably centers around redistributing potential employment jobs related with the contact community exercises to various rising and created economies around the world. The report would altogether target understanding the inward and outer components that has incited the organization for redistributing the occupations to seaward areas while additionally planning to comprehend the effect of such exercises on the distinctive partner gatherings of the organization. At last, the report would likewise assess the ramifications of the companys proceeding with work jobs in the Australian locale on the clients and representatives. About Telstra Telstra works as a compelling organization working in the media transmission and data administrations section in the Australian market. The organization contributes in the age of various sorts of correspondence benefits across fluctuated media transmission showcases over the globe. Appraisals mirror that Telstra mirrors an age of 17.2 million portable media transmission administrations, fixed voice administrations of around 7.0 million and furthermore around 3.4 million broadband administrations for the retail showcase. The media transmission association centers around making an interconnected network later on period. The organization centers around the advancement of innovation and potential substance arrangements that are both basic and available for use for the general masses (BUCHANAN et al., 2014). Telstra effectively works in meeting the computerized correspondence needs of its clients identifying with the Australian markets. The correspondence organization traverses its activi ty based along 22 universal districts. Telstra as far as age of compelling media transmission administrations contributes in systems administration and associating distinctive outside partners like individual and corporate clients, government bodies and other such social networks. The media transmission and data administrations produced by Telstra possibly help in improving the personal satisfaction and work for various individuals(Telstra , 2016). The media communications and data innovation administrations association centers around working through an aggregate of 3000 representatives crossing across 22 diverse worldwide markets. The organization has created correspondence frameworks through the improvement of subsea link arranges along the Asia-Pacific district (Hong Doz, 2013). Further, Telstra additionally spends significant time in the age of utilization administrations and furthermore works in the improvement of programming, on the web and electronic deals, e-wellbeing efforts and video conveyance related activities(Telstra International , 2016). Telstra conducts its data innovation and media transmission administrations based along five fundamental beliefs sketched out as follows. The organization targets dealing with its various partners. Telstra additionally advances the working in an aggregate manner for age of required improvement (Hong Doz, 2013). It likewise centers around advancing a situation of common trust among its diverse partner gatherings (Fournier Lee, 2009). Telstra targets rearranging entangled item and innovation arrangements. At long last, the fifth worth ponders Telstras intend to work in a gutsy manner attributable to moving over to testing markets and territories(Telstra , 2016). Telstra additionally works as a compelling worth put together firm that centers with respect to taking around potential duties regarding meeting of data needs of clients and partners based along worldwide markets. Further, Telstra additionally centers around working in a deterministic manner for formation of different choices for its clients (Maxwell, 2012). The administration of Telstra likewise doesn't stop the age of lowliness and ceaselessly centers around advancing a situation of learning and development in the association. At long last, Telstra mirrors the fearlessness of testing its capacities and activities for the gathering of significant worth sets(Telstra , 2016). Outer and Internal Issues Outer Issues influencing Telstra One of the most potential outer issues urging Telstra to redistribute its call community tasks to Philippines is recognized to be the expense of running the call habitats. It is assessed that the base pay that should be created to a call community representative in Australia working for around 38 hours sums $41,332. Then again, call base workers working for on 47 hours in the Philippines showcase is seen to increase normal least pay rates of just $5,751 (Khan Khalique, 2014). The minimal effort of tasks as far as pay of call focus workers assessed by the administration of Telstra sums to be a significant angle that urges the organization to move its call community activities to re-appropriated markets like Philippines(Contact Center Central , 2016). In addition, the presence of potential infrastructural and innovative possibilities in Asian areas like India and Philippines is seen to empower Telstra in moving its media transmission tasks to such regions(Dowling, 2013). The administra tion of Telstra shields its redistributing activities with respect to the off shoring of call focus tasks in that the equivalent contributes in the improvement of more noteworthy adaptability for the firm in meeting changes in buyer needs (RASTOGI TRIVEDI, 2016). A representative of Telstra expressed in the above regard that the organization centers around working through a compelling admixture of inside staffs, nearby offices and other seaward offices that thus help the organization in conceivably adjusting new and changing desires for the purchasers (Ferdman Sagiv, 2012). In this way, advancement and production of re-appropriating open doors for its inner representatives in various minimal effort markets would possibly help Telstra in decreasing business and client adjusting costs (Cai, 2013). Telstra centers around redistributing enormous number of client overhauling employments to the Indian market with the end goal that the equivalent contributes in helping the media transmissi on organization build up a viable nearness along the Indian subcontinent (Suhasini Suganthalakshmi, 2015). The making of nearby conveyance communities is taken to help Telstra in increasing potential access to neighborhood and local assets and foundations and furthermore in upgrading the ability base of the representatives utilized from the territorial market (Podsiadlowski et al., 2013). Alongside India and Philippines, Telstra centers around building up its seaward nearness dependent on the improvement of a compelling gifted workforce that would help in age of client administrations and in meeting of client conveyance requirements for various universal markets like Hong Kong, Singapore and other created markets like London and New York(Coyne, 2014). Interior Issues influencing Telstra Telstra centers around redistributing its call community tasks to worldwide locales like Philippines in that the administration expects that the seaward move would contribute in the age of powerful client administrations (Dowling, 2013). Alongside age of successful client overhauling, Telstra centers around sending huge number of call focus tasks to seaward markets in that the equivalent would contribute in lessening exercises identified with back-office duplication(Adhikari, 2016). The organization the executives of Telstra ceaselessly centers around slicing and off shoring employments to outside business sectors in that the equivalent would contribute in upgrading the gainfulness part of the organization over the long haul. The above factor is provoking Telstra to tap rising and ease economies for off shoring the call place activities (Ongori Nzonzo, 2011). Once more, age of ventures by Telstra identifying with the parts of universal resources, distributed computing and furthermore for improvement of 4G versatile administrations further require the media transmission organization to produce seaward markets for its workers (Tolonen et al., 2014). The age of business concurrences with Indian firms like Tata, Wipro and furthermore with Infotech further empower Telstra for utilizing around 2500 individuals in the seaward areas for rendering of potential client administrations (Stevens Ogunji, 2010). The focal point of Telstras the board in rebuilding the firm dependent on the formation of the client assistance conveyance wing further trigger the requirement for its redistributing tries of call focus operations(Cai, 2013). The persistent quest for modest work assets had set off the aim of Telstra for sourcing occupations in developing and developing markets like Philippines and India(Coyne, 2014). Re-appropriating Impact on Stakeholders Effect on Customers The rebuilding and re-appropriating endeavors of Telstra is seen to have critical effect on its customers. The redistributing exercises of the organization is taken to conceivably influence the Network Application and Services Unit or NAS that tends to the need of government bodies and different business foundations with various innovation items and system administrations like distributed computing, web security and furthermore video conferencing(Hutchens, 2013). The organization representative of Telstra concedes that the expulsion of experienced staffs from its innovation and operational divisions would will in general make issues like system blackouts. The equivalent is taken to influence the nature of work and administrations produced by the organization to its customers (Olsen Martins, 2012). The ceaseless expulsion of gifted Australian specialists from Telstras workforce has in certainty scrutinized the dependability and viability of the administrations produced by the innovati on organization to the Australian clients that will in general follow through on premium costs for picking up the administrations created by the company(CPSU, 2016). The re-appropriating exercises of Telstra possibly influence the quality and dependability of the client administrations produced by the media transmission association (Bhatia Kaur, 2014). Clients grumble that Telstra as far as re-appropriating and making of seaward

A Voyage to America Essay Example | Topics and Well Written Essays - 500 words

A Voyage to America - Essay Example The south had an agronomically continuing economy that made a larger part of the benefit off the development and offer of money crops. A portion of the money crops that were sold were tobacco, sugar, and (cotton was the most beneficial of the considerable number of harvests). So as to fuel the monstrous rural economy, both untalented work just as slaves was utilized so as to gather the yields. Accordingly, I would have the option to pick up work on a homestead or ranch to work either in return for day to day environments or for a bit of the yields that I can sell for benefit. Moreover, contingent upon the legislative head of the region, land was given for Englishmen to create in return for a level of the benefit that was produced using the deals of yields. Possessing land implies that I would have power, along these lines by working for the crown, I would pick up status through the claiming of land, yet additionally benefit by the offer of money crops. Furthermore, the strict resistance in the south was more merciful than that of the North. The Puritans who followed a severe, non-semantic perspective on religion colonized the Northern states. In this manner, strict congruity was normal and strict resilience was at least. Moreover, the south had residents that were faithful to the crown. In this way, the arrangement of government in the south was progressively customary just as spoken to one of the most seasoned decision bodies in the thirteen settlements. The south spoke to the best option for those in England that were not well off and didn't have the right stuff to be gainful in different pieces of the new world. The offer of money crops gave monetary security that would expand even past the first thirteen settlements right through the common war. In contrast to different segments of the province, the south offered open doors that were better because of the style of government and the social powers that were at

Perspectives in Modern Psychology

Perspectives in Modern Psychology Basics Print Perspectives in Modern Psychology By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Reviewed by Reviewed by Amy Morin, LCSW on October 01, 2019 facebook twitter instagram Amy Morin, LCSW, is a psychotherapist, author of the bestselling book 13 Things Mentally Strong People Dont Do, and a highly sought-after speaker. Learn about our Wellness Board Amy Morin, LCSW Updated on November 27, 2019 Verywell / Emily Roberts More in Psychology Basics Psychotherapy Student Resources History and Biographies Theories Phobias Emotions Sleep and Dreaming There are many different ways of thinking about human behavior. Psychologists utilize a variety of perspectives when studying how people think, feel, and behave. Some researchers focus on one specific school of thought, such as the biological perspective, while others take a more eclectic approach that incorporates multiple points of view. There is no single perspective that is better than another; each simply emphasizes different aspects of human behavior. Major Perspectives in Modern Psychology The early years of psychology were marked by the domination of a succession of different schools of thought. If you have ever taken a psychology course in school, you probably remember learning about these different schools which included structuralism, functionalism, psychoanalysis, behaviorism, and humanism. As psychology has grown, so has the number and variety of topics that psychologists investigate. Since the early 1960s, the field of psychology has flourished and continues to grow at a rapid pace, and so has the depth and breadth of subjects studied by psychologists. Today, few psychologists identify their outlook according to a particular school of thought. While you may still find some pure behaviorists or psychoanalysts, the majority of psychologists instead categorize their work according to their specialty area and perspective. Different Approaches to the Same Topic Every topic in psychology can be looked at in a number of different ways. For example, lets consider the subject of aggression. Someone who emphasizes a biological perspective would look at how the brain and nervous system impact aggressive behavior. A professional who stresses a behavioral perspective would look at how environmental variables reinforce aggressive actions. Another psychologist who utilizes a cross-cultural approach might consider how cultural and social influences contribute to aggressive or violent behaviors. Here are seven of the major perspectives in modern psychology. 1. The Psychodynamic Perspective The psychodynamic perspective originated with the work of Sigmund Freud. This view of psychology and human behavior emphasizes the role of the unconscious mind, early childhood experiences, and interpersonal relationships to explain human behavior and to treat people suffering from mental illnesses. Psychoanalysis became one of the earliest major forces within psychology thanks to Freuds work and influence. Freud conceived of the mind as being composed of three key elements: the id, the ego, and the superego. The id is the part of the psyche that includes all the primal and unconscious desires. The ego is the aspect of the psyche that must deal with the demands of the real world. The superego is the last part of the psyche to develop and is tasked with managing all of our internalized morals, standards, and ideals. While the psychodynamic perspective is not as dominant today, it continues to be a useful psychotherapeutic tool.?? 2. The Behavioral Perspective Behavioral psychology is a perspective that focuses on learned behaviors. Behaviorism differs from many other perspectives because instead of emphasizing internal states, it focuses solely on observable behaviors. This approach to psychology was founded on the work of psychologists such as Edward Thorndike and John B. Watson.?? While this school of thought dominated psychology early in the twentieth century, it began to lose its hold during the 1950s. Today, the behavioral perspective is still concerned with how behaviors are learned and reinforced. Behavioral principles are often applied in mental health settings, where therapists and counselors use these techniques to explain and treat a variety of illnesses. 3. The Cognitive Perspective During the 1960s, a new perspective known as cognitive psychology began to take hold. This area of psychology focuses on mental processes such as memory, thinking, problem-solving, language, and decision-making.?? Influenced by psychologists such as Jean Piaget and Albert Bandura, this perspective has grown tremendously in recent decades. Cognitive psychologists often utilize an information-processing model, comparing the human mind to a computer, to conceptualize how information is acquired, processed, stored, and utilized. 4. The Biological Perspective The study of physiology played a major role in the development of psychology as a separate science. Today, this perspective is known as biological psychology. Sometimes referred to as biopsychology or physiological psychology, this point of view emphasizes the physical and biological bases of behavior.?? Researchers who take a biological perspective on psychology might look at how genetics influence different behaviors or how damage to specific areas of the brain influence behavior and personality. Things like the nervous system, genetics, the brain, the immune system, and the endocrine systems are just a few of the subjects that interest biological psychologists. This perspective has grown significantly over the last few decades, especially with advances in our ability to explore and understand the human brain and nervous system. Tools such as magnetic resonance imaging (MRI) scans and positron emission tomography (PET) scans allow researchers to look at the brain under a variety of conditions. Scientists can now look at the effects of brain damage, drugs, and disease in ways that were simply not possible in the past. 5. The Cross-Cultural Perspective Cross-cultural psychology is a fairly new perspective that has grown significantly over the last twenty years. Psychologists and researchers in this school of thought look at human behavior across different cultures. By looking at these differences, we can learn more about how culture influences our thinking and behavior.?? For example, researchers have looked at how social behaviors differ in individualistic and collectivistic cultures. In individualistic cultures, such as the U.S., people tend to exert less effort when they are part of a group, a phenomenon known as social loafing. In collectivistic cultures such as China, however, people tend to work harder when they are part of a group. 6. The Evolutionary Perspective Evolutionary psychology is focused on the study of how evolution explains physiological processes.?? Psychologists and researchers take the basic principles of evolution, including natural selection, and apply them to psychological phenomena. This perspective suggests that these mental processes exist because they serve an evolutionary purposeâ€"they aid in survival and reproduction.??? 7. The Humanistic Perspective During the 1950s, a school of thought known as humanistic psychology emerged. Influenced greatly by the work of prominent humanists such as Carl Rogers and Abraham Maslow, this perspective emphasizes the role of motivation in thought and behavior. Concepts such as self-actualization are an essential part of this perspective. Those who take the humanist perspective focus on the ways that human beings are driven to grow, change, and develop their personal potential. Positive psychology, which focuses on helping people live happier, healthier lives, is one relatively recent movement in psychology that has its roots in the humanist perspective.?? A Word From Verywell There are many different ways to think about human thought and behavior. The variety of perspectives in modern psychology gives researchers and students tools to approach problems and helps them find new ways to explain and predict human behavior, leading to the development of new treatment approaches for problem behaviors.

Principles Of The Electoral College - Free Essay Example

The Electoral College During the heated and dramatic election of 2016, Donald Trump lost the popular vote in the presidential election by a record-breaking three million votes. According to the United States House of Representatives, Five times a candidate has won the popular vote and lost the election. Andrew Jackson in 1824 (to John Quincy Adams); Samuel Tilden in 1876 (to Rutherford B. Hayes); Grover Cleveland in 1888 (to Benjamin Harrison); Al Gore in 2000 (to George W. Bush); Hillary Clinton in 2016 (to Donald J. Trump). (Electoral College Fast Facts). Whether or not you are a fan of President Trump, it is unfortunately clear that everyday citizens votes do not hold much power. The Electoral College is an unfair way of deciding the next president. To better understand the issue of the Electoral College, we will discuss what it is including the definition and its purpose, as well as its history. It is important to note first that the Electoral College is a process and not a place. According to Merriam and Webster, the definition of Electoral College is, a body of people representing the states of the US, who formally cast votes for the election of the president and vice president. (Merriam-Webster Dictionary). Each of the people in this body is referred to as an elector. While many people believe that when they cast their vote in a presidential election, they are directly determining who will become president, they are actually determining which electors will participate in voting for the president. In the Electoral College process, electors are nominated and selected for each presidential candidate. These electors are usually hand-picked by the candidates themselves, or by high ranking officials in the candidaters political party. Each state sends one elector for each senator and congress-person from that state. For instance, the state of Iowa always sends six electors to the Electoral College. There are 538 total electors in each presidential election. A candidate needs to receive a majority vote of least 270 electoral votes to win office. In most states, the candidate that gets the majority of votes gets to send all of their electors to the Electoral College. This is referred to as all or nothing. Only two states divides the electors based upon the proportion of the vote that each candidate won. About a month after election day, the electors meet and present their electoral votes along with the winner of the presidency and vice presidency. Each state gets an elector for each of its people in congress. According to the National Archives and Records Administration, Big states like Texas end up with 38 electors while small and low populated states like Vermont, North Dakota, South Dakota, Wyoming, Montana and D.C. get 3 electors. (Distribution of Electoral Votes). There is no federal law requiring electors to vote for their party or candidate. Very rarely an elector will go against their party, and against what the majority of people in their state voted. This is rare because of the fact that electors are almost always chosen from amongst people who very staunchly support their candidate and party. The founding fathers created this idea and put it into effect during the late 1700rs. The founding fathers main reason for creating the Electoral College was because at that time, the population was small and more evenly spread out between the colonies. The founding fathers believed that a good number of citizens, especially ones living in remote or rural areas, did not know the candidates qualifications. Therefore, they decided, they would not be able to make an educated vote in the presidential and vice-presidential elections. They only wanted input from people that would be affected most by the changing president and their policies and procedures. They were also worried about the unfair influence in the south due to slavery. Today, the Electoral College is an antiquated concept, and is no longer fair or necessary. Presidential candidates focus most of their attention on large states with a high number of electors. They do not care or put much effort into trying to win states with small numbers of electors because they will be less helpful in the battle for Electoral votes. People who live in those states with three and four electors dont end up getting the representation that they deserve. Unfortunately, this process gives voters in states with more Electors a lot more power than voters in states with less Electors. There are also a lot of trends that happen with the Electoral College. With the all or nothing approach that most states use, many people feel like their vote goes to waste since only one party gets all the votes for the state. This may make people less likely to cast a vote. According to Edwin D. Doverrs book, The Disputed Presidential Election Of 2000 The size of victory in any one state is not of particular importance to the final outcome of a presidential election (32). So with the all or nothing approach, margins are not important. A win is a win, and a loss is a loss. The Electoral college system/process is a very impactful system for our country. The Electoral College impacts everyone in one way or another. Poor decisions made by the winners of these disputed elections have directly and indirectly affected everyone. It can discourage voters from voting in states with few electors, or in states where there is a long trend of the opposite party winning. In my opinion, this is not what our forefathers intended when forming this government as a democracy. With the modern media and technology, the people of this country are much more educated and aware about the issues, and about where candidates stand. There is no need for these practices from the late 1780rs which were based on circumstances that were very different. After seeing months and months of political ads that at times seem ugly and harass people to vote a certain way, the last thing you would want to find out is that your vote didnt really even count in the end. The Electoral College is a heavily outdated process that is unfair to a large part of the population.

Lgbtq Youth And Its Impact On The Community Essay

It’s very likely that LGBTQ youth are not able to get the help in school which causes them to have low self-esteem, not show up to school, and even engage in risky behavior. School psychologists must provide services for their entire student body and that includes youth apart of the LGBTQ community. Regardless of what their beliefs are it’s important that they give LGBTQ youth the support that they need and also help them work towards a positive identity while going the process of coming out. To assist LGBTQ youth with the decision of coming out, school therapists must create an environment that is conducive to trust, provide resources that will educate and foster empathy, and great care must be given to the type of therapy. School psychologists must help create and foster an environment that educates administrators, teachers, and non LGBT students. Many lesbian, gay, bi-sexual, and transgender youth do not feel safe in school. Sexual minority students may suffer harassment (verbal and/or physical) from teachers and peers. As a result, they may experience more absences than heterosexual students. In addition, LGBT youth may turn to drugs and alcohol as a means of coping with the stressful school environment (Patterson 2013, p.192). Many will contemplate or even commit suicide. School counselors and psychologists must be knowledgeable and competent regarding the issues and needs of their LGBT students. The APA Ethical Code 2.01(b) requires, â€Å"an understanding of factorsShow MoreRelatedThe Importance Of Same Sex Love And Homosexual Activity1484 Words   |  6 Pagesmajority of schools leave out is the LGBTQ community. Many people might not even know what LGBTQ stands for due to lack of recognition for this specific group of people. LGBTQ represents the lesbian, gay, bisexual, transgender, and questioning society. Society has found a way to shun this group, giving them little recognition and a lot of judgment. From the second children start school all the way till they graduate, students are not taught about this community. This is causing prejudice against thisRead MoreCreating A Safe Environment For Lgbtq Youth In Schools.1340 Words   |  6 PagesEnvironment for LGBTQ Youth in Schools Introduction Over decades, research has been devoted to many issues related to lesbian, gay, bisexual, transgender, and questioning (LGBTQ) youth (Dragowski, McCabe, Rubinson, 2016, p 127). This essay presents a literature review examining research conducted on different aspects of the LGBTQ youth. The review was conducted using key terms of â€Å"LGBTQ youth†, â€Å"bullying,† and â€Å"school safety.† Findings presented in the study cross the topics of how KGBTQ youth struggleRead MoreTeenage Suicide On The Rise Essay1521 Words   |  7 Pagesclose friends refused to sit with him at lunch. Later that year, James Rodemeyer committed suicide.This case is just one of many where an adolescent feels that their is no other solution than to end their life. It is estimated that, 42% of LGBT of youth have experienced bullying, and they are two to three times more likely to attempt suicide than other teens (BullyingStatistics.org, 2016). It’s very hard in this day and age to be young, and let alone to be young and identify as lesbian, gay, bi orRead MoreLgbtq Behavior And Its Effects On Children Essay965 Words   |  4 PagesLGBTQ people have to overcome education, employment, health, legal, and safety obstacles and discrimination throughout their lives. LGBTQ are likely to have low life satisfaction, low self-esteem, low mental health, housing issues, body image/ eating issues and low trust in intimate relationships. LGBTQ are also likely to increase chances of depression, increase substance abuse, homelessness, and increase changes of suicide based on their sexual orientation. LGBTQ experience negative health issuesRead MoreEvaluation Of The Article Program Evaluation Essay1398 Words   |  6 Pagesthe differences of opinions between stakeholders. For example, there are minimum amount of programs for youth in foster care as the child welfare system is leaning more toward stabilizing the home or placing you th in foster homes. Congregate providers would have a difference of opinion from the child welfare system as one may think on solution is beneficial than the other. In discussing the impact of this study, the conclusion social work practice is program evaluations are a way to assess the agenciesRead MoreLgbt, Lesbian, Bisexual, And Queer Identified ( Lgbtq ) Runaway And Homeless Youth1416 Words   |  6 PagesBisexual transgender, and queer identified (LGBTQ) runaway and homeless youth are of the most vulnerable groups in this country. Homelessness, particularly among lesbian, gay, bisexual, and transgender, queer youth is an enduring example of a social problem in our society. The LGBTQ youth faces an increasing number of challenges. In disclosing their sexual orientation family conflict arises and plays a huge role in the issue of homelessness among the LGBTQ youth. They face forms of stigma and marginalizationRead MoreDiscrimination Towards The Lgbtq Community1483 Words   |  6 PagesCarolyn Kasper Mrs. Gallos English 3 6 April 2017 Discrimination Towards the LGBTQ Community We as a society are not doing enough to end the discrimination in the LGBTQ ( Lesbian, Gay, Bisexual, Transgender, and Queer) community . There is no reason to discriminate someone for what they do behind closed doors and they should keep their negative words and actions to themselves. No one no matter what they believe in should be discriminated against. Just because someone who is attracted to the sameRead MoreQuestioning The Disorderly1484 Words   |  6 PagesDisorderly Each year, 5000 LGBTQ+ (Lesbian, Gay, Bisexual, Transgender, Queer/Questioning) youth end their lives because they don’t have the acceptance they deserve. The LGBTQ+ community faces more discrimination, such as hate crimes, bullying and unnecessary judgement, than the average straight or cis-gender person, making it more difficult to cope with mental illness and achieve the American Dream. The American Dream is slightly tainted for those in the LGBTQ+ community, and suffering from a mentalRead MoreThe Debate Over Same Sex Marriage1682 Words   |  7 Pageswill be looking at the impact legalization of same-sex marriage has on relationship length and satisfaction for same-sex couples versus length and satisfactions in states without same-sex marriage. The American Psychological Association has been one of the leading organizations in the fight for marriage equality. Previous research, done by Rostosky et. al., provides information regarding the APA’s attempts, in 2004, to highlight how such inequalities can negatively impact a persons mental healthRead MoreA Brief Note On The, Gay, Lesbian, Bisexual, And Queer Essay1061 Words   |  5 PagesAssignment One – Microaggressions. The LGBTQ –[ Lesbian, Gay, Bisexual, Transgender and Queer]- community experience micro-aggressions on a daily basis and have been doing so for a very long time. There has always have been aura of negativity and aggression that surrounded them. It used to be expressed in the similar way Old-fashion racism was, with the intent to cause harm. Now in modern times micro-aggressions are used against to degrade LGBTQ members more than anything else. Micro-aggressions

The Issue Of Marriage And Divorce - 1490 Words

Marriage and divorce has always been a tricky subject for many couples, the fear of rejection, starting a family or hurting their other counterpart can come to play in many situations throughout their relationship. Traditionally marriages were known to be a sacred bond between two individuals. This bond can be between two heterosexuals or two individuals of the same sex. On May 17th, 2004 Massachusetts became the first state to allow all same-sex marriages (Dinno 2013). In Canada same-sex marriages became legalized in 2005 unlike the United States who is yet to make it nationwide (Pierceson, 2014). Now ‘Till death do us part’ does not seem to be the only way individuals have been detaching themselves from their marriage vows. Originally†¦show more content†¦Many couples concern themselves with how strong their marriage is. The Olson’s predicted strong marriages to be identified in ten categories; communication, flexibility, closeness, personality issues, conflict resolution, sexual relationship, leisure activities, family and friends, financial management and spiritual beliefs. A study done by Pillemer showed that 85% of women in the United States stated to have a satisfying marriage (Assodeh, 2010). In the United States, 56% of adults were married or living with their significant other in 2003. Studies from the National Longitudinal Mortality showed that non-married individuals have an elevated risk of mortality than those who are married or living with their spouse. Causes of mortality included cardiovascular diseases, cancer, pneumonia, influenza, obstructive pulmonary disease and liver disease. Statistically men had a higher protection rate of 205% compared to woman at 50% (Robles, 2003). Researches have conducted a series of studies to pin point the exact factors that insist well-being and health among married couples (Robles, 2003). Married individuals have reported their health to in greater shape compared to many unmarried i ndividuals who report to have more health aliments and mental health issues (Dinno, 2013). They found that a combination of cohabitation,

7 Reasons to Celebrate Your Favorite Teacher

The United Nations Educational, Scientific and Cultural Organization (UNESCO) instituted World Teacher Day on October 5. However, many countries observe Teacher Day celebrations independently. In America, students celebrate  Teacher Appreciation Week  in the first full week of May. In that week, Teacher Appreciation Day is celebrated on Tuesday. How You Can Celebrate Teacher Day On Teachers Day, students express their gratitude and  appreciation  to their teachers. Many educational institutes commemorate Teacher Day with elaborate entertainment activities that include short plays,  dance,  and music. Parent volunteers and Parent-Teacher Association (PTA) members often host a small celebration party for the teachers. As a student, you can put up banners, and posters with  a thank you note  scribbled on them. Express your appreciation through  thank you cards. 7 Reasons to Appreciate Teachers A Teachers Influence Lasts Forever: In the words of William Butler Yeats, Education is not the filling of a pail but the lighting of a fire. We must credit our teachers who ignite the fire of learning in the mind that is yearning for knowledge. Someone once said, Teachers dont impact for a year, but for a lifetime. A teacher can make a lasting impression on your mind. This influence persists beyond school, college, and university, and becomes the beacon of light, guiding us through the journey of life. Good teachers play the role of a parent, providing encouragement, inspiration, and invaluable guidance.Teaching Is Not Easy: Not everyone can be a teacher. Sure, you can pursue teaching programs to gain the necessary certification to be a teacher. But a good teacher has to have certain qualities to be an icon of inspiration. Great teachers are those who can extract the nectar of goodness from young aspirants. They can fish out the hidden qualities of every student. With words of inspir ation, persistent training, and rigid discipline, they steer the students in the right direction. Great teachers teach the student to believe that nothing is impossible.Teachers Impact Many Generations:  Everyone has a favorite teacher. You may love this special teacher for her charisma, enthusiasm, or knowledge. Often, your best memories of childhood revolve around a great teacher, who inspired and changed your life. Their words  or actions linger in your memory decades after you leave school. Subconsciously, you emulate them as you pass on your knowledge to the next generation. Thus, a great teachers influence can last for many generations.Teaching Self-Reliance: By setting the right example, a teacher can impress the importance of self-reliance, instead of expecting help from others. This can teach students to build on their strengths and be responsible for their successes and failures. Students can learn to push their limits.Teachers Teach You to Seek Knowledge:  You may h ave come across some teachers who instilled value education in you. This kind of education can mold a human being for life. Teachers bear an enormous responsibility of passing on their wisdom and knowledge. Italian astronomer and mathematician Galileo expressed, You cannot teach a man anything; you can only help him discover it in himself. Good teachers help in enabling this discovery. They open new avenues  and encourage students to explore and achieve their true potential.The Best Teachers:  Recollect the good qualities of your favorite teachers. You may notice some common qualities. They motivated you to work harder, and take bigger initiatives. They are passionate about their subject and enjoyed teaching. Good teachers understand the importance of nurturing the love and thirst for knowledge. Some nuggets of their valuable advice remain with you forever. Their insight broadens your horizons and enables you to expand your knowledge.Teachers as Entertainers: Good teaching invol ves good delivery. African-American scholar and teacher John Henrik Clarke rightly said, A good teacher, like a good entertainer, first must hold his audiences attention; then he can teach his lesson. It is not enough to simply know your subject. To initiate learning, teachers have to make the classroom experience enriching. Appreciate Your Teachers Efforts With Gratitude Use this opportunity to get to know your teachers better. Share your thoughts and ideas and learn what inspires them. Make beautiful Teacher Day cards with  Happy Teacher Day quotes to express your admiration. One beautiful Teachers Day quote by Albert Einstein goes, It is the supreme art of the teacher to awaken joy in creative expression and knowledge. Every Day Is Teacher Day Why wait for  Teacher Day to come around? You dont need a special occasion to express your affection towards your teacher. Make each day of your teachers life special with thoughtful words and deeds. A first-grade teacher is pleased as punch whenever she gets a hand-made card from one of her students. Overlooking the spelling mistakes and scrawny handwriting, she says that it is the thought that counts. Your Success Is Your Teachers Success A teacher considers herself successful when her students achieve success in their respective careers. For her, the only reward is your advancement. On Teachers Day, pay a visit to your alma mater, and meet the teachers who molded you. You will be surprised to find that they remember you, even though many years have rolled by. Your visit might bring tears of joy to their eyes. Express your appreciation by writing a personalized message. It is the best gift you could ever give your teachers.

The Public Administration Advisory Committee - 1802 Words

The UIC Public Administration Advisory Committee has assigned Aida Demirovic and Miguel Mosqueda with three tasks (1) creating an engagement alumni plan, (2) incorporating hands-on work experience throughout the program, and (3) increasing curriculum focus to include data analysis and project management. In order to conduct an extensive and in-depth analysis of the three tasks, the team took several approaches. In regard to alumni engagement the team assembled two focus groups. The focus group was chosen for its rich answers and immediate results. The results and analysis will be discussed in the rest of the paper. In regard to hands-on work experience, the team created side-by-side comparison of the top five competing institutions, and†¦show more content†¦While the volume of participants was lower than that of an electronic survey the content was much greater. The only criteria the participants had to meet was that they were alumni or within their last semester of graduati on. The questioner was created by our team, approved by our contact, and looked over by the UIC research lab. Our initial focus group was conduced by October 30th, 2014. This focus group was led by the team and consisted of two male and two female alums of the program. Of the four participants three had concentrated on financial management. One participant had created their concentration with department approval. Of the four participants want double majored in Local government. All of the participants had graduates in either 2013 or 2014. Data to follow. Second focus group to be conducted November 10th, 2014. Data to follow. Hands On Work Experience The UIC Department of Public Administration, with the work from a prior Capstone Team SWAT analysis, identified past and current students want more hands on work experience prior to graduating. In order to ascertain if assisting students obtain more work experience is a feasible project, we have researched the top five competitor programs as identified by the previous capstone team to see if they have or require work experience to graduate. They are as follows and in no specific order: 1. DePaul University 2.Loyola University

Steve Jobs Personality Free Essays

Type Today marks part four of our 16 part series exploring the sixteen Myers-Briggs Type Indicator@ test personality types and related notable Celebrity figures throughout time. Previously we examined Celebrity John D Rockefeller and the AMBIT@ test EST] personality type. This week we examine the SITS (Introversion-sensing-Thinking- Perceiving) and the late great mastermind behind the â€Å"Apple†, Steve Jobs. We will write a custom essay sample on Steve Jobs Personality or any similar topic only for you Order Now Most people remember Steve Jobs as the co-founder and CEO of Apple Inc and Paxar Inc. Steve Jobs was also an individual that mastered his AMBIT type, the SITS, allowing him o excel in a unique position in his industry that lead to technical advancements that we often take for granted in this day of age. Like many Myers-Briggs Type Indicator Introverts who prefer thinking and sensing, Steve Jobs used his preferences primarily internally to analyze the data he gathered in an organized fashion much like the computers he helped develop. He was able to detach and objectively criticize the projects he worked on. This sometimes insensitive approach to problems was a double edged sword that lead to Jobs being fired from Apple in 1985 after losing a rower struggle with Apple’s board of directors. Fortunately, Steve Jobs didn’t give up, and utilized his Perceiving preference to remain flexible and spontaneous in his approach to work. He acquired the computer graphics division from Localisms and turned it into the critically and financially acclaimed Paxar Studios. He also started up NeXT Inc. That was acquired by Apple Inc. In 1996, and over the next four years Steve Jobs ascended to CEO of Apple bringing him full circle with the company. img class="aligncenter wp-image-34532 " src="https://donemyessay.com/wp-content/uploads/2017/07/101576653-Steve-jobs-illustration.1910x1000-1024x536.jpg" alt="Steve Jobs " width="764" height="400" / Steve Jobs also showcased how SITS types focus on efficiently working on projects and was a rim believer in doing only what was needed with the least amount of fuss. Efficiency and innovation were key focus points throughout his career. You can see this today in the products that Apple releases. From the mimic, to the pod, to the phone, all three are innovations which are streamlined, clean, and efficient products that attract a full spectrum of customers. Apple produces a set amount of products that are mass produced for cost efficiency and quality control. This has allowed Apple to control the image of all the products they produce unlike open sourced platforms like he PC. This did not come without risk as many manufacturers looked down on Apple for their lack of flexibility in the ass’s but it is that exact mentality of adaptable, action- orientated risk taking that is synonymous with SITS personality types. Not many people got to know the man behind the keynote speeches closely while he was alive. This is something that is common with Introverts. Most accounts were from people that worked for Steve Jobs. At one point Fortune named Steve Jobs â€Å"one of Silicon Valleys leading egomaniacs. He was also known as a demanding perfectionist, but that was a side effect of the extreme SITS preference that is often seen as confident, independent, and self-determined. Steve Jobs set the bar high and worked until the very end to meet those standards. In the end Jobs did things his own way. Through his successes and failures he changed the technical landscape forever and showed what a motivated SITS can achieve. – See more at: http://carcinogenicity’s. Com/ assessments/ambit/965-celebrity-personality-type-Steve-Jobs/#stash. Qwerty. Duff Ambit By Shabby How to cite Steve Jobs Personality, Papers

Comparative Analysis of Credit Institutions †MyAssignmenthelp.com

Question: Discuss about the Comparative Analysis of Credit Institutions. Answer: Introduction: A credit institution is an official chartered institution that receives deposits, provide savings and checking accounts, and provide loans among other services. This paper will research credit institutions in providing credit. Many people or firms take loans to finance their businesses to do major projects, credit institution has been to their rescue in providing them with this funds and paying later at a profit (Crouhy et al, 200). Before getting credit from the credit institutions, some documents must be filled, and collateral is taken to the bank. The amount of money, which can be loaned to the individual, depends on the value of the collateral When there is breach in contract by the borrower, the credit institution with the help of law has the right to take the collateral that is of the same value as the credit given and trade it to compensate for the loss. Credit institutions have been of great benefit to small businesses and the government since it contributes to the development of economy by funding entrepreneurs to start their own business (Mosley Hulme, 2006). Therefore, this paper will analyze credit institutions in the provision of credit. Provision of credit has widely been considered as one of the most important sources of finance for most people in the world at large. Greater populations in the country both in the rural and urban areas acquire credit from various credit institutions to facilitate their developmental activities (Muldrew, 2016). Loans help increase family income and therefore help the less fortune collect their capital funds and therefore enable them to invest in activities that generate employment With the growing population and an increasing lack of employment, more people acquire loans to fund their entrepreneurial projects. However, financial institutions such as commercial banks are reluctant when it comes to catering to the needs of small lenders as per their lending terms and conditions (Chaibi and Ftiti, 2015). There is a myth in financial institutions that it is almost impossible to loan the poor as they cannot present the required security or collateral and therefore considered as un-creditworthy In accordance with some survey (Leone and Porretta, 2014), most people are withdrawing from SACCOS, and this begs for the question, what is happening with the provision of credit in SACCOS now that was not earlier before. This is in line with the fact that in the recent past years, SACCOS were considered the best in the provision of credit Alongside formal financial institutions, Informal financial institutions have also embraced financial transactions relating to the provision of credit in many countries Knowledge acquired after informal finance indicates that most of the rural poor, a good example being women, in most get better access to the informal credit facilities as compared to the formal sources. This has also been proven as per the reports obtained from the surveys of credit the markets. This, in turn, leads to the question: Why have informal financial institutions succeeded even in circumstances where formal institutions have failed? Another credit institution that has grown over time is the category of microfinance institutions. One of their main features is that they do have a large number of clients regardless of the fact that their total asset base is so small as compared to the traditional financial institutions. They provide credit to the less fortunate who do not have or have little collateral and in most cases possess minimal business experience (Tang Guo, 2017). Another feature is that they hold loan portfolios that are poorly diversified since their target households tend to come from the same region and furthermore often practice similar activities. This situation makes the MFIs operate under information asymmetry among there borrowers and as subjects of high default risk. It is therefore evident that there is a huge disparity in the provision of credit between both the formal and informal institutions in general. This study will be aimed at analyzing these variations and their roles in access s and provision of credit to individuals. The findings of this study will reveal the shortcomings of the policy used by credit institutions thus important in policymaking. It will determine places that should be emphasized and corrected The study is also of significant value especially at the time when most people were considering taking loans from credit institutions but failed to understand the regulations. This mainly focused on the ordinary human beings who are speculating enjoying credit facilities. The study is also of assistance to the existing credit institutions. Since most of the institutions are competitors for the same market, they were able to gauge what competitive edge one institution had from the other. Business discipline and academic areas related to the research The research report is related to many disciplines like finance, business management, accounting, human resource, marketing among others. It is related to finance, accounting, actuarial, statistic and economics such that bank rates are used by the financial manager to calculate the probability of the company getting loss or gain if they borrow given amount (Siqueira et al, 2016). Sales and marketing people use the research topic to see the area of influence and to advise their clients. This chapter will help to review the existing literature based on credit institutions and provision of credit. It mainly focuses on the features of these institutions and how the differences affect the mentality of lenders, which in turn generates to how they are viewed regarding the provision of credit. This chapter also forms the basis for which a conceptual framework will be done later on. A lot of research work has tried to outline the various functions of credit institutions. Theoretical analysis majorly bases their arguments on the informal sector. According to Amaral and Quintin (2006), there are four major approaches used by informal institutions for providing credit. These approaches include lending to individuals, incorporated credit models, lending to community-based businesses and group-based minimalists credit systems. As per the minimalist approach, there is the provision of credit even without any form of support. The group-based approach tends to use already formed groups that are in existence or newly formed ones. The functionality of this approach is based on the principle that entrepreneurs view credit as one of the important things in putting a business. According to this approach, credit is offered to small groups that guarantee the loans provided to their members (Amaral and Quintin, 2006). The members need to make a weekly contribution to a joined account baring the name of the group. This account acts as a loan guarantee fund and as a saving account for every member. The members are allowed to receive another loan only after they have paid the first loan. This, therefore, ensures responsibility of the members. In the integrated model, there is a combination of credit with technical assistance and training (Amaral and Quintin, 2006). Individuals who require loans interact directly with the loan officers. Before any loan is granted, there have to be either one or two guarantors who will guarantee the loan. The funds used in training and offering technical assistance makes this approach expensive. Provision of financial services Provision of credit by financial institutions is normally viewed as one of the restrictions limiting their gain from borrowers. Most credit institutions, especially the formal financial institutions prohibit the problem of accessibility, which is displayed in the form of complicated application procedures, prearranged minimum loan amounts and restrictions put on credits obtained for specific purposes (Demirg-Kunt Singer, 2017). More problems occur on the side of borrowers who are smallholders and poor. The requirements such as collateral tend to stand in their way, which should be the case. As long as there are proper procedures for disbursement, proper supervision and repayment dates have been established; the poor will be able to obtain loans and repay them. Moreover putting high-interest rates on credits, helps discourage the influential non-targeted credit program. This clearly indicates the necessity to build up appropriate institutions that will conveniently provide the small-scale borrowers with loans (Coleman, 2016). Microfinance institutions, on the other hand, put in place more lenient policies on the provision of credit, which have been an added advantage to them. Microfinance institutions attempt to overcome problems of contract enforcement and imperfect information (Martinez-Sola et al., 2014). This is through the development of non-traditional mechanisms that are necessary for screening applicants, monitoring borrowers actions and the creation of incentives to repay. Traditionally, microfinance institutions have depended on donor funds, and subsidies as raising funds on the commercial basis have rendered difficult. Because of these irregularities, one wonders whether these institutions should be regulated (Demirg-Kunt Singer, 2017). Credit institutions have been characterized by their varying ways of providing credit to borrowers. The informal institutions mainly show the inability to satisfy the existing demand especially in the rural areas that is their main target. According to Straub (2005), the small size of resource controlled by the informal sector has been the main reason for its inability while the difficulty in administration of loan like risk of default, monitoring and screening and high cost of transaction has affected formal sector. Both formal and informal institutions exhibit certain similarities. These similarities relate to their mode of penalties. When the formal contract enforcement mechanism is missing, the informal and formal institution resort to borrowing practices that uses loan screening instead of monitoring that appears to propose more concern with contrary selection than moral hazard. The differences only appear in method employed by these institutions (Coleman, 2016). Formal institution uses project screening while the informal institution checks on the reputation of the borrower. They rely on history and character of the borrower. Informal institutions rarely undertake loan monitoring since they know borrowers as opposed to formal institutions, which are because of lack of facilities (Martinez-sola et al., 2014). Another difference that emerges in characteristics of credit institutions is that transaction costs are lower in informal institutions as compared to formal institutions. Most financial institutions serve as financial intermediaries. These financial institutions based on their primary sources of funds and how they use these funds. The institutions are depository institutions known as banks, investment intermediaries, and contractual savings institutions. The following explanation of the characteristics of each of these institutions has followed from the work. Linkages between formal and informal financial institutions Past literature has revealed that there are some linkages in credit institutions. These linkages mainly exist between the formal institutions and the informal institutions. The structure of formal credit institutions does not allow them to respond efficiently to the small farmers and individuals needs. This may be because of information asymmetry between the borrowers and the banks therefore hard for the bank to guarantee repayment. Furthermore, loans require security before it approved and granted (Islam, 2016). This, therefore, acts, as a limiting factor since small farmers and individuals may not be in a position to provide the required security, and in any case, they do it might not be in an acceptable form as required by formal financial institutions (Deville, 2015). Informal financial institutions are more open to short-term credit requirements as compared to the formal sector (Lane and McQuade, 2014). This, therefore, gives low-income individuals access to loans, which might be easily accessible in other institutions and sometimes at a lower cost. The linkages between these financial institutions in two ways; that is horizontal and vertical. Under horizontal view, the formal sector banks are allowed to be in direct competition with small-scale moneylenders in the provision of credit (Gough, 2017). On the other hand, vertical view allows formal lenders access the formal lending sources and be able to re-lend the borrowed funds. The literature review about past research has mainly focused on the differences portrayed by various credit institutions concerning their features and characteristics. This literature has also shown that credit institutions vary in their policies, for example, formal credit institutions mainly focus on loan screening and monitoring and place collateral as security while on the other hand informal credit institutions base their security on personal information about the loaner. Despite these variations, individuals still prefer certain institutions than others when securing loans and over the recent years, SACCOs have shown greater performance in the provision of credit. This study seeks to establish the added advantage some institutions have over others. Critical Analysis of a Text (e.g. what is my research question? why select this text? does the Critical Analysis of this text fit into my investigation with a wider focus? what is my constructive purpose in undertaking a Critical Analysis of this text?) My topic comparative analysis of credit institution in provision of credit and the research article has been able to answer the research questions like What variations were observed in provision of credit among credit institutions? How did those variations impact the performance of credit institutions and loaners at large? What criteria did credit institutions use while issuing credit to its customers. What type of literature is this? This is a research paper because it reports on steps and factors credit institutions consider before they issue out loans. It also tries to identify the linkage between formal and informal sectors in allocation of credit and finally the literature review shows the dependent and independent variables necessary for this research paper What sort of intellectual project for study is being undertaken? a) How clear is it which project the authors are undertaking? (e.g. knowledge-for-understanding, knowledge-for-critical evaluation, knowledge-for-action, instrumentalism, reflexive action?) b) How does the sort of project being undertaken affect the research questions addressed? (e.g. investigating what happens? what is wrong? how well does a particular policy or intervention work in practice?) What is being claimed? What are the main kinds of knowledge claim that the authors are making? (e.g. theoretical knowledge, research knowledge, practice knowledge?) How clear are the authors claims and overall argument? (e.g. stated in an abstract, introduction or conclusion? unclear?) With what degree of certainty do the authors make their claims? (e.g. do they indicate tentativeness? qualify their claims by acknowledging limitations of their evidence? acknowledge others counter-evidence? acknowledge that the situation may have changed since data collection?) How generalized are the authors claims to what range of phenomena are they claimed to apply? (e.g. the specific context from which the claims were derived? other similar contexts? a national system? a culture? universal? implicit? unspecified?) To what extent is there backing for claims? a) What, if any, range of sources is used to back the claims? (e.g. first hand experience? the authors own practice knowledge or research? literature about others practice knowledge or research? literature about reviews of practice knowledge or research? literature about others polemic?) If claims are at least partly based on the authors own research, how robust is the evidence? (e.g. is the range of sources adequate? are there methodological limitations or flaws in the methods employed? do they include cross-checking or triangulation of accounts? what is the sample size and is it large enough to support the claims being made? is there an adequately detailed account of data collection and analysis? is a summary given of all data reported?) How, if at all, could the authors have provided stronger backing for their claims? References Amaral, P.S. and Quintin, E., 2006. A competitive model of the informal sector. Journal of monetary Economics, 53(7), pp.1541-1553. Retrieved from: https://www.sciencedirect.com/science/article/pii/S0304393206000821 Straub, S., 2005. Informal sector: the credit market channel. Journal of Development Economics, 78(2), pp.299-321. Retrieved from: https://www.sciencedirect.com/science/article/pii/S0304387805000684 Chaibi, H. and Ftiti, Z., 2015. Credit risk determinants: Evidence from a cross-country study. Research in international business and finance, 33, pp.1-16. Retrieved from https://www.sciencedirect.com/science/article/pii/S0275531914000324 Coleman, W.D., 2016. Financial services, globalization and domestic policy change. Springer. Retrieved from: https://books.google.co.ke/books?hl=enlr=id=dhe_DAAAQBAJoi=fndpg=PR9dq=Coleman,+W.D.,+2016.+Financial+services,+globalization+and+domestic+policy+change.+Springer.ots=N8XbAJawvmsig=DWCGQZ1Qe5cql-WShpOrR-36ldAredir_esc=y#v=onepageqf=false Crouhy, M., Galai, D. and Mark, R., 2000. A comparative analysis of current credit risk models. Journal of Banking Finance, 24(1-2), pp.59-117. Retrieved from: https://www.sciencedirect.com/science/article/pii/S0378426699000539 Demirg-Kunt, A. and Singer, D., 2017. Financial inclusion and inclusive growth: a review of recent empirical evidence. Retrieved from: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2958542 Deville, J., 2015. Lived economies of default: Consumer credit, debt collection and the capture of affect. Routledge. Available at: https://books.google.co.ke/books?hl=enlr=id=cDuhBgAAQBAJoi=fndpg=PP1dq=Deville,+J.,+2015.+Lived+economies+of+default:+Consumer+credit,+debt+collection+and+the+capture+of+affect.+Routledge.ots=E7jrWCd1Jssig=57GH2iNJpQU2oaeK2GPgyXahsFIredir_esc=y#v=onepageqf=false Gough, I. 2017. Globalization and national welfare regimes: The East Asian case. In Social Security in the Global Village (pp. 63-82). Routledge. Islam, T., 2016. Microcredit and poverty alleviation. Routledge. Lane, P.R. and McQuade, P., 2014. Domestic credit growth and international capital flows. The Scandinavian Journal of Economics, 116(1), pp.218-252. Retrieved from: https://onlinelibrary.wiley.com/doi/full/10.1111/sjoe.12038 Leone, P. and Porretta, P., 2014. Introduction. In Microcredit, Guarantee Funds in the Mediterranean (pp. 1-21). Palgrave Macmillan, London. Retrieved from: https://link.springer.com/chapter/10.1057/9781137452993_1 Martnez-Sola, C., Garca-Teruel, P.J. and Martnez-Solano, P., 2014. Trade credit and SME profitability. Small Business Economics, 42(3), pp.561-577. Retrieved from: https://link.springer.com/article/10.1007/s11187-013-9491-y Mosley, P. and Hulme, D., 2006. Finance against Poverty: Volume 2: Country Case Studies. Routledge. Retrieved from: https://www.taylorfrancis.com/books/9781134803781 Muldrew, C., 2016. The economy of obligation: the culture of credit and social relations in early modern England. Springer. Retrieved from: https://books.google.co.ke/books?hl=enlr=id=Lz2_DAAAQBAJoi=fndpg=PR9dq=Muldrew,+C.,+2016.+The+economy+of+obligation:+the+culture+of+credit+and+social+relations+in+early+modern+England.+Springer.ots=jBG7JWcqRisig=w2LoACow3EKZtav2xTEVrhAf6M8redir_esc=y#v=onepageqf=false Siqueira, A.C.O., Webb, J.W. and Bruton, G.D., 2016. Informal entrepreneurship and industry conditions. Entrepreneurship Theory and Practice, 40(1), pp.177-200. Available at: https://onlinelibrary.wiley.com/doi/full/10.1111/etap.12115 Tang, S. and Guo, S., 2017, July. Formal and informal credit markets and rural credit demand in China. In Industrial Economics System and Industrial Security Engineering (IEIS'2017), 2017 fourth International Conference on (pp. 1-7). IEEE. Retrieved from: https://ieeexplore.ieee.org/abstract/document/8078663/

Commercial Law Flow Charts and Notes free essay sample

You must take reasonable care to avoid acts or omissions which you can reasonably foresee would be likely to injure your neighbour- Who, then, in law, is my neighbour? The answer seems to be persons who are so closely and directly affected by my act that I ought reasonably to have them in contemplation as being so affected when I am directing my mind to the acts or omissions that are called in question Donoghue v Stevenson Neighbour Principle: You must take reasonable care to avoid acts or omissions which you can reasonably foresee would be likely to injure your neighbour- Who, then, in law, is my neighbour? The answer seems to be persons who are so closely and directly affected by my act that I ought reasonably to have them in contemplation as being so affected when I am directing my mind to the acts or omissions that are called in question Donoghue v Stevenson Reasonable Person Test individual action or failure to act as a reasonably prudent person would under similar circumstances, resulting in harm to another Blyth v Birmingham Waterworks Co (1856) Papatonakis v Australian Telecommunications Commission (1985) That it is appropriate for the negligent person’s liability to extend to the harm so caused This was stated in Section 5D of the Civil Liability Act 2002 (NSW) and is consistent with the case of Adeels Palace Pty Ltd v Moubarak Other Tests: for a causal link to exist these elements must be satisfied: iii. We will write a custom essay sample on Commercial Law Flow Charts and Notes or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Negligence was a necessary condition for the occurrence of the harm iv. That it is appropriate for the negligent person’s liability to extend to the harm so caused This was stated in Section 5D of the Civil Liability Act 2002 (NSW) and is consistent with the case of Adeels Palace.

physic Essays - Elementary Particles, Particle Physics, Dark Matter

Physics covers a wide range of phenomena, from elementary particles (such as quarks, neutrinos and electrons) to the largest superclusters of galaxies. Included in these phenomena are the most basic objects from which all other things are composed, and therefore physics is sometimes called the "fundamental science".[8] Physics aims to describe the various phenomenon that occur in nature in terms of simpler phenomena. Thus, physics aims to both connect the things observable to humans to root causes, and then to try to connect these causes together. For example, the ancient Chinese observed that certain rocks (lodestone) were attracted to one another by some invisible force. This effect was later called magnetism, and was first rigorously studied in the 17th century. A little earlier than the Chinese, the ancient Greeks knew of other objects such as amber, that when rubbed with fur would cause a similar invisible attraction between the two. This was also first studied rigorously in the 17th century, and came to be called electricity. Thus, physics had come to understand two observations of nature in terms of some root cause (electricity and magnetism). However, further work in the 19th century revealed that these two forces were just two different aspects of one force ? electromagnetism. This process of "unifying" forces continues today, and electromagnetism and the weak nuclear force are now considered to be two aspects of the electroweak interaction. Physics hopes to find an ultimate reason (Theory of Everything) for why natur e is as it is (see section Current research below for more information).

Best Schools for Children with Aspergers Syndrome

Best Schools for Children with Aspergers Syndrome In recent years, more and more children have been diagnosed with autism or autistic spectrum disorders, including high-functioning autism or Aspergers Syndrome. Students who are non-verbal generally need special-education settings, but when it comes to educating those students who are high functioning yet still on the autistic spectrum, it can often be harder to find the appropriate learning environment due to their specific needs both in and out of the classroom. How Aspergers Students Learn Students with Aspergers or high-functioning autism may seem gifted in certain areas, and many of these children are quite bright. By definition, they have above-average intelligence, and they may also show talents such as a well-developed vocabulary or the ability to do math. Aspergers kids often also have an area of great interest, which may be in a restricted area, such as subway cars or certain kinds of animals. However, they may need a great deal of structure and routine, and they may react negatively to changes in schedules. They tend to have trouble making transitions, and they may need advanced warning when their schedules are going to change, as change can be a trigger that negatively impacts their abilities to cope with a situation. They may also have sensory issues that make them sensitive to loud noises or to smells or textures. Finally, many students with Aspergers have difficulty communicating about their wants and needs. Even though their vocabularies may be sophisticat ed, they may struggle with the practical aspects of language. The Accommodations Aspergers Students Need While Aspergers students are often bright, they may need accommodations or changes in their curriculum or classroom, including changes that are reflected in their Individual Education Plan, or IEP. While public schools are required to grant students with learning issues or other disabilities accommodations, private and parochial schools that do not receive public funding are not required to grant students these accommodations. However, with the proper documentation, including a professional evaluation, private schools may often grant students certain accommodations that can help these students handle the curriculum. Aspergers students may require accommodations such as speech and language therapy to improve their ability to communicate and to help them understand when to use pragmatic expressions such as how are you? They may also need occupational therapy for autism, which helps them make sense of the information coming in through their senses and integrate it. Occupational and speech and language therapists can also help students with Aspergers play better with other kids and understand how to navigate the classroom. In addition, students with Aspergers may benefit from counseling to help them process their emotions. Best Placement for Students with Aspergers Aspergers students can thrive in a range of schools, and to determine the best school you may need the assistance of an educational consultant who has experience working with students with special needs, including Aspergers. Some students may do well in a mainstream private or public school setting, with additional services such as counseling or occupational or speech and language therapy provided in school or outside of school. Other students may benefit from placement in a special education school. There are schools designed to meet the needs of students with autistic spectrum disorder; some special-education schools are for lower-functioning kids, while others are for higher-functioning kids. Placing a higher-functioning child with Aspergers requires parents to visit the school to make sure that the school can offer the right academic program. Often, special-education schools are so small that they can offer individualized instruction to meet the needs of a child with Aspergers. In other words, these types of schools can offer a student a higher-level class in an area in which he or she excels, such as math, while still providing other services the child requires, such as speech and language therapy, occupational therapy, counseling, and social skills training to help students improve their ability to interact with other children and teachers. With these types of services, students with Aspergers and other forms of autistic spectrum disorders can often be very successful in school.

Ethical Decision Making and Contemporary Managers Essay

Ethical Decision Making and Contemporary Managers - Essay Example The Enron scandal a few years back and the JP Morgan failure are merely tips of the iceberg in the sense that they clearly point towards the fact that many times the managers in the corporations, moved by self-interest or a more than rational commitment to the shareholders, do end up resorting to unethical decisions which in the long run have a very destabilizing impact on the economy and the society. Hence, one big challenge facing the managers serving the corporations is to resort to ethical decision making in their day to day professional conduct, irrespective of the pulls and pressures they are always vulnerable to. As per the Oxford Advanced Learner’s Dictionary, ethics mean â€Å"moral principles that control or influence a person’s behavior (518)†. Going by the fact that managing corporations is a job that is about allocation and distribution of resources, exercise and delegation of legal and financial power, sharing and concealing of information, there is no denying the fact that contemporary managers do many times come across situations which could press them to waver from the established principles and ethics (Pava 17). The ethical challenges faced by managers within an organization could be of many types. For instance, many times the managers have to face a situation which requires them to strike a balance between reducing running costs and the health and safety of the employees. Here, a manager gave to ethical decision making while never cut upon the expenditure that assures the safety and well-being of the employees. ... Also, for instance, in the present age of technology and IT revolution, managers are required to respect the information pertaining to customers, while at the same time resorting to an optimal use of the available information to maximize sales and profits. No wonder, these calls for a dedicated ethical decision making and the weighing of the decisions taken in the light of the set ethical benchmarks. As employees, shareholders and customers expect the companies to be ethical and above board, a failure of the management in this area my mar the reputation and viability of a corporation in a serious way. Going by this, the most important question that comes to mind is that what can the managers do to act in an ethical way? First and foremost, a manager, to be able to act in an ethical way must have an internal map dedicated to ethical decision making. If a manager adheres to any religion, it is really good as it could serve as a source of deciding as to what is right or wrong. However, managers who are not given to religious affiliations could also draw inspiration from the available secular sources to develop a personal ethical compass that could guide them during their course of decision making. The next thing that could go a long way in promising ethical decision making on the part of the managers is that corporations should make sure that junior managers do always have access to senior mentors within the organization who have a reputation for ethical decision making (Sims 209). This will allow the young managers to have a practical exposure to the challenges involved in ethical decision making and will prepare them to be the leaders of the future. Besides, in their day to day working, the senior management should make it a point to encourage ethical

Strategy and Competition of Swissair Essay Example | Topics and Well Written Essays - 1500 words

Strategy and Competition of Swissair - Essay Example The rapid expansion which was supposed to bring Swissair out of its financial worries only served to make the situation worse eventually leading to liquidity problems for the company. Further, the manner in which Swissair spent money and made investments clearly shows that the management often had other interests in mind rather than the best interests of the company. Â  The SWOT Analysis of the company shows that while the strengths of the business were exploited, the weaknesses and were not accounted for and those weaknesses eventually led to the threats to the company becoming realities. The SWOT analysis created with the information presented in the case study shows the elements as follows. Â  Porter’s 5 Forces shows an interesting picture for the airline industry and it is clear that it is not easy to be a new entrant into a market which is dominated by heavy competition and rising costs. Profit margins for many airlines are becoming thinner as fuel costs and taxes are increased internationally which means the only determinant of new entrants is how easy or difficult it is for them to secure significant lines of capital. Even with price competition, an airline which has a strong brand name might be able to charge a premium for the same services as other airlines. Getting that brand name, however, requires continued service quality and a long history of excellence. The power of suppliers is also quite high since Boeing and Airbus dominate the supply side while the power of the buyers is quite low with regard to them simply needing planes if they are to call themselves as an airline. The threat of substitutes becomes low when we consider international travel but it remains quite high when local and regional travel is considered.

The Macro Economic Policies Of Australia

The Macro Economic Policies Of Australia Australian governments over precedent decades have conventionally aimed towards including triangular objectives of financial growth, domestic poise, and external poise within framework of single economy. (DORNBUSCH, Rudiger, 2006) Collectively, these trio set of objectives aim towards sustaining nationalized financial growth while retaining inferior inflation as well as limiting the mass of overseas debts and liabilities. Several researches conducted in concerned field have revealed that there is no consistency in level of economic growth though; it is influenced greatly by fluctuations of international business cycle. (DORNBUSCH, Rudiger, 2006) A governmental macroeconomic management is referred as an attempt to minimize the impact of international business fluctuations by controlling demand to facilitate sustained growth together with inferior inflation and unemployment. In the last decade macroeconomics policy in Australia has been directed at controlling inflation as it would be associated with macroeconomic stability and growth. Following on from the GFCs the governments main emphasis of macroeconomic policy has been trying to avoid a recession. Contrast these two phases of policy. Explain how macroeconomic policy objectives, targets and instruments have differed. Explain how macroeconomic policy objectives, targets and instruments have differed. Outline the experiences of the Australian Economy over the last 10-15 years making use of macroeconomic aggregates these may be presented in summaries of tables and/or graphs. Stress should be placed on the challenges facing policy makers at present and likely challenges. Before the global economic crisis (GFC), the Australian economy has seen significant growth in terms of GDP ignoring various crises that have affected the global economy such as the Asian financial crises (1997-1998) and the United States (US) dot com bust (2000) (reference). Throughout this time, Australian macroeconomic policy (MP) has primarily been directed at controlling inflation to maintain stability and growth. MP refers to the structure, performance, behaviour and decision making of a whole economy. (Reference) states that MP is associated with the study of aggregates such as gross domestic product (GDP), price indices and unemployment rates to examine how the economy functions. Macroeconomic Policy The continuance of a steady economic environment in Australia post GFC has proven to be a difficult task, with the surfacing of undesired inflation and external account pressures (Treasury, 2008). According to Treasury (2008) acts of policy to tackle such pressures has consistently contributed to short-term downturns and, unavoidably, constrained the prolonging of economic growth. The basis of the issue, however, is the policy failure which permitted the pressures to appear. Nevertheless, the resulting changes in the economic outlook would affect the self-assurance of businesses and consumers and their readiness to engage in the process of structural change. Moreover, disparity in fiscal policy and hesitation about inflation predictions has lead to higher real interest rates, discouraging investment and distorting investment patterns. In the last few years substantial progress has been made in addressing inflation and to a lesser extent current account deficit constraints (RBA, 2009). The current cycle has been characterised by low inflation, with monetary policy being carried out on a more strategic basis with the desire to keep principal inflation consistent with the Reserve Bank of Australias (RBA) average target range of 2 to 3 per cent over a yearly cycle. Last year the Government introduced a new framework for the conduct of policy, clearly recognising the Reserve Banks role and endorsing its inflation objective. The clarification of policy responsibilities, and recognition of their observance in practice over time, together with an accumulating record of low inflation, is likely to have a continuing positive impact on lowering inflation expectations and creating confidence in a sound investment environment. Australias large structural current account deficit reflects both inadequate national saving and inadequate investment returns overall (ABA, 2009). On the saving side, the principal cause is a deficiency in public saving especially at the Commonwealth level. The Government through its fiscal consolidation program is addressing this problem and has put in place a policy framework that will maintain the adequacy of the Commonwealth contribution to public saving. Statements 1 and 2 spell out in detail the fiscal strategy, including improved transparency and accountability practices, and implementation of the strategy in the years ahead. The benefit of a more soundly based fiscal policy is likely to be seen over time in the capacity of the economy to sustain faster rates of growth than would otherwise be the case. While it is too early to be able to point to any concrete results with confidence, the 1997-98 economic outlook presented in Statement 2 suggests that higher saving in prospect next financial year will help to constrain the current account deficit. Before the global economic crisis of 2007 the Australian economy sustained increased economic growth of approximately 8% per annum except for the year 1997-1998 (Asian financial crisis) (The Australian Year Book 2008). This resilience reflects on well-timed monetary and fiscal policy responses; strong demand from various major trading partners, such as China; increased population growth that aided demand in the domestic economy; and the robustness of the financial sector (The Australian Year Book 2008). More generally, Australias strong economic performance can be commended by decades of economic reform in economic policy, regulatory frameworks and governance. These have increased the flexibility of the economy, and strengthened its ability to withstand unforeseen circumstances. Dungy and Pagan (2007) suggest that aggregate behaviour exists between fiscal policies and is connected Since 1997/98 the federal budget has been in surplus continually, apart from a very small deficit in one year. The governments net debt has been retired. Gross debt on issue is maintained at a small size in order to facilitate a functioning bond market so as to allow efficient risk pricing more generally. As with monetary policy, there is a medium-term framework for fiscal policy emphasising balance over the business cycle. There is much less inclination today than there once was to use fiscal policy as a counter-cyclical stabilisation tool. Significant fiscal challenges in the long-term include health spending and responding to population ageing, as the very important work by officers of the Australian Treasury has made clear. Macroeconomic policy has a supportive and complementary role in providing a stable economic environment conducive to sound investment decisions by business and to encouraging workers to invest in upgrading their skills to take advantage of new employment opportunities. Macroeconomic aggregates are: Aggregate behaviour: relationships between economic aggregates such as national income, government expenditure and aggregate demand. For example, the consumption function is a relationship between aggregate demand for consumption and aggregate disposable income. Models of aggregate behaviour may be derived from direct observation of the economy, or from models of individual behaviour. Theories of aggregate behaviour are central to macroeconomics. Aggregate demand: aggregate demand (AD) is the total price for demand for final goods and services in the economy (Y) at a given time and price level [1]. It is the amount of goods and services in the economy that will be purchased at all possible price levels.[2] This is the demand for the gross domestic product of a country when inventory levels are static. It is often called effective demand, though at other times this term is distinguished. It is often cited that the aggregate demand curve is downward sloping because at lower price levels a greater quantity is demanded. While this is correct at the microeconomic, single good level, at the aggregate level this is incorrect. The aggregate demand curve is in fact downward sloping as a result of three distinct effects; Pigous wealth effect, the Keynes interest rate effect and the Mundell-Fleming exchange-rate effect. Aggregate expenditure: is a measure of national income. It is a way to measure the GDP or Gross Domestic Product (A measure of the level of economic activity). It is defined as the value of planned goods and services produced in an economy. GDP is calculated by the formula C + I + G + NX and I = Ip + Iu (planned + unplanned investment), Aggregate Expenditures is defined as C + Ip + G + NX, where: C = Consumption Expenditure (Also can be written as CE) I = Investment G = Government spending NX = Net exports (Exports-Imports) Aggregate supply Aggregation problem Effective demand: Saving Government Macroeconomic goals: High and stable economic growth rates Low unemployment Low inflation Stable and manageable Balance of Payments RBA article: RBA uses short term interest rate as its operating instrument for implementing monetary policy. RBA sets target level for its cash rate. RBA has two options It can target particular level of bank reserves and accept the resulting outcome for short term interest rates It can seek to achieve a particular target level for short-term and supply whatever quantity of services is demanded at the target rate. For a given demand curve for reserves the RBA will need to alter the supply of bank reserves to implement a change in the stance of monetary policy. While banks continue to hold reserves with the RBA these reserves are associated with settlement in the payments system. In addition the RBA pays interest on reserves which is linked to the cash rate. An important effect on the current operating procedure is the relationship between the quantity of reserves and the level of the policy rate. Monetary policy operating procedures is based on the supply of and demand for some measure of the money supply. Systematic changes to the stance of monetary policy need to be implemented by changing the supply of bank reserves. Central banks can influence the stock of bank reserves by undertaking open market operations either directly with the banking system or with the non-bank public. A central bank is unable to independently determine both the quantity of bank reserves and their price. To understand how the RBA achieves its target for the cash rate it is necessary to consider the operation of the payments system in Australia and the overnight cash market. In Australia the major players in the payments system are the nonbank public (households and firms), the private banks, the RBA and the federal government. The trend in unemployment in the most recent decade has generally been downward. Following a rise of a percentage point in the economic slowdown in 2001, it has fallen to the lowest levels since the mid 1970s. The long expansion, with occasional temporary pauses, has done a lot to foster lower unemployment. But the changes in labour market arrangements over the past 20 years or so have also been very important. Indeed, I would argue that they are a key contributor, not least because they have facilitated the longer length of economic expansions. http://www.bis.org/review/r080516b.pdf?noframes=1 Firstly, as is widely accepted, tax systems must be fiscally sustainable across the economic cycle. Secondly, while monetary policy is the principal instrument of macroeconomic management, it is still necessary to remain mindful of the short-run liquidity effects of fiscal policy The challenges associated with an aging population identified in the Intergenerational Report have prompted the Howard Government to establish a long-term strategy to put fiscal policy on a more sustainable footing. Central here was the creation of an independently managed Future Fund in 2006 to help meet the costs associated with Australias aging population. The primary goal of the Future Fund is to accumulate adequate capital to meet the Commonwealths unfunded $91 billion superannuation liability so that it does not burden future generations. The Future Fund has been capitalised from a number of sources including asset sales, special seed funding (designed in part to preserve sovereign debt markets) and budget surpluses from the governments cash account. While the Future Fund is primarily about fiscal sustainability rather than stabilisation per se, it is important to note that the structure of the Future Fund and the allocation of surpluses to it do have some important implication s for the stabilisation debate. The significant point here is that the Future Fund represents an innovative vehicle in which cash surpluses can be invested without stimulating short-run consumption. Overall recent Australian fiscal policy has been consistent with the objectives set out in the Charter, in that fiscal policy is clearly being conducted on a sustainable basis with significant financial resources now being invested in the Future Fund. What is less clear, however, is the impact of this policy on the goal of macroeconomic stabilisation and whether the challenges currently confronting the Australian economy may require more careful consideration of the impact of fiscal policy on short-run economic activity. Given the political sensitivity of the issue and the RBAs understandable reluctance to speak outside its official mandate, the central bank has not been willing to provide the government with explicit advice on fiscal policy. Indeed the new RBA Governor, Glenn Stevens, attempted to down-play the issue at a February 2007 Parliamentary Committee hearing when he stated that it was unlikely any election spending spree would have enough short-term impact to enter into the RBAs interest rate calculations (Wood 2007). Activist fiscal policy of the Keynesian golden age may well have passed, with monetary policy now established as the primary instrument of macroeconomic management. Yet this does not mean that we can completely ignore the stabilisation function of fiscal policy which Musgrave described almost half a century ago. This is especially so when, as in the case in Australia at present, key sectors of an economy are running at close to full capacity and inflationary risks are building. Under these circumstances fiscal policy must not only be sustainable, it must also be sensitive to its potential to stimulate demand in the short-run. Fortunately, for the Australian economy it seems that there is an awareness of the need to exercise a degree of fiscal restraint in the prevailing conditions with both major parties. http://eprints.utas.edu.au/3970/1/3970.pdf Challenges: Australias population is projected to reach nearly 36 million by 2050 an increase of around 14 million The first challenge is that an ageing population implies slower economic growth. As the proportion of the population that is of traditional working age falls, the labour force participation rate is projected to fall (from above 65 per cent today, to below 61 per cent over the next 40 years), dampening workforce growth. Population dynamics explain one-half of the 0.4 percentage point gap between annual growth in GDP per capita over the next 40 years relative to the past 40 years the other half being due to a technical assumption relating to productivity growth. The second challenge is that working Australians will need to support an ageing population that, in part due to continuing technological advancements, is likely to be living longer. Men aged 60 in 2050 are projected to live an average of 5.8 years longer than someone aged 60 today, while women aged 60 in 2050 are projected to live an average of 4.8 years longer. This is great news for Generation Y, but a sobering statistic for future budgets. The greater publicly funded health, aged care and related expenditures to support Generations X and Y in their retirement years will need to come from a relatively smaller number of workers than we have today. On a no policy change basis, a significant fiscal gap is projected. The intergenerational report shows how the Governments fiscal strategy to constrain real expenditure growth contributes to reducing, without wholly eliminating, the projected fiscal gap. The third challenge identified in the intergenerational report concerns the impact of climate change on ecosystems, water resources, agricultural production and weather patterns. Against these challenges, there are three topics I want to say something about today: Promoting economic growth by improving productivity and workforce participation; The implications of a growing population, particularly for infrastructure investment; and Medium-term prospects for capital flows required to finance national investment. For obvious reasons, I wont be saying anything about climate change on this occasion. Discuss the concept of instruments and targets in macroeconomic policy and assess how this concept of instruments and targets in macroeconomic policy and assess how this concept might be applied to the current policy framework in Australia. A number of people have asked me for clarification on instruments and targets as referred to in assignment 2. Here is what I mean: These refer to macroeconomic policy. INSTITUTIONS make policy. Examples would be the Reserve Bank of Australia and the Treasury. These institutions set policy TARGETS. An example of such a target would be an annual inflation rate of no more than 3%. Policymakers then use policy INSTRUMENTS to meet the targets. Typical instruments include the RBA cash rate or government spending. Show how the economic theory you have learnt can be used to explain current macroeconomic policy. How is inflation measured? GDP Deflator Consumer Price Index: an average of the prices of the goods and services purchased by the typical urban family of four. Producer Price Index: An average of the prices received by producers of goods and services at all stages of the production process fiscal and monetary policy The tools the Australian government controls to smooth short-run fluctuations in the economy inflation, unemployment and external trade The causes and effects of inflation, the link between inflation and unemployment, Australian trade with the rest of the world Fiscal policy: Fiscal policy is the government operation of government spending (G) and taxes (T). Typically we consider the problem of how the government can manipulate G and T so as to control economic variables such as output, inflation, interest rates, etc. Issues: how fiscal policy can stabilize the economy? what about government borrowing and public debt? Budget deficit: the budget deficit is the extent of overspending by the government Budget deficit = G T Expansionary fiscal policy: increasing the budget deficit (Gà ¢Ã¢â‚¬  Ã¢â‚¬Ëœ or Tà ¢Ã¢â‚¬  Ã¢â‚¬Å") usually in a recession. Contractionary fiscal policy: decreasing the budget deficit (Gà ¢Ã¢â‚¬  Ã¢â‚¬Å" or T à ¢Ã¢â‚¬  Ã¢â‚¬Ëœ) usually in an economic boom. Budget deficits and surpluses If the government spends more than it brings in in taxes, what happens? (G > T) The money has to come from somewhere. For developed countries, this means borrowing (issuing government debt or public debt) from domestic residents or foreigners. If the government is spending less than it brings in in taxes, the government can reduce public debt. The Australian government has followed this policy in the last 10 years. Types of fiscal policy We differentiate two types of fiscal policy: Discretionary fiscal policy: This is fiscal policy that comes about from planned changes in G and T that the government brings in response to the economic situation. Non-discretionary fiscal policy: This is fiscal policy that comes about from the design of spending and taxes. There is no government official actively determining these changes. Non-discretionary fiscal policy Certain parts of our spending and taxes automatically increase demand in a recession (when AD < potential GDP) and decrease demand in a boom (when AD > potential GDP). Welfare spending and unemployment benefits are part of G and increase in a recession and decrease in a boom. Income and company taxes are part of T and depend on GDP, they increase during a boom and decrease during a recession. These act as automatic stabilizers on the economy, reducing the variability of the economy. Cyclically-adjusted budget deficits The automatic stabilizers raise the budget deficit in a recession and lower the budget deficit in a boom. This fact means that we can not just look at the budget deficit to determine whether the government is overspending, we also have to take into account where we are in the business cycle. Adjusting the budget deficit for the point we are in the business cycle is called cyclically adjusting. We would expect even a sensible government to be in a deficit in a recession. Discretionary fiscal policy Discretionary fiscal policy is the manipulation of G and T by government officials typically to reduce the severity of shocks to the economy. It sounds like a good idea, but how does it work in reality? There are many problems and limitations to the use of fiscal policy to reduce recessions and booms. Problems with discretion Scenario: Imagine a train driver that has only one control- an accelerator/brake that he or she can push or pull on to control the train. This is exactly the same situation as the government faces with fiscal policy. Now what limitations can the train driver face? Problems with discretion Limitations: Correctness of data: Is the train driver seeing the tracks correctly? Or Does the government get the right data about where the economy is? Timing of data: Is the train driver seeing the tracks with enough time to react? Or Does the government get the statistics quickly enough to do anything? Decision lags: Can the train driver make a decision about the correct action before the train reaches the problem spot? Or does the government have time to design the correct fiscal policy? Problems with discretion Administration lags: If the driver pulls on the control, how long will it take for the brakes to start to work? Or New spending and taxes have to be passed through parliament, which takes time, even after a decision is made. Operational lags: If the brakes start to work, how long before the train slows down? Or New government spending and taxes take time to affect the economy. So even the best-designed fiscal policies can go wrong if they are in response to the wrong data or if they take too long to affect the economy. Political considerations There are further concerns we might have about the operation of fiscal policy. Politicians have to remain popular. No one likes taxes, and everyone likes new spending on themselves. Will a politician make an unpopular decision that may result in them losing the election if it is the best decision for the economy. Electoral cycles: Governments have to be re-elected every 3-4 years. So a politician would love to engineer a boom right before his or her election. Crowding out Another problem with fiscal policy is that an increase in G may increase output but at the expense of other components of aggregate expenditure. Y = C + I + G + NX Since the economy returns to potential GDP over the long-run, an increase in G must come at the expense of either C, I or NX or all 3. If an increase in G reduces investment spending over the long-run, this could lead to lower future growth in the economy. Crowding out How can this happen? An increase in G shifts the AD curve to the right. This results in higher Y and higher P. The increased government borrowing in the market for savings raises the interest rate. Higher interest rates lead to lower investment spending so I drops, shifting AD left. Higher interest rates leads to an appreciation of the A$ (as foreign investors put their money in Australia), so NX drops, shifting AD left. Crowding out- I and NX Government debt One problem that economic commentators always point to is the level of government debt- Our debt is too high. How do we evaluate the level of government debt? How do we know is it is too high. Government debt is like any other form of debt. You evaluate the debt relative to the income/wealth of the person incurring the debt. A $500,000 debt might be high to you and me, but it might mean nothing to Kerry Packer. Government debt So we need to evaluate government debt relative to government income. But what is the appropriate form of government income, as the government doesnt earn or produce anything. Generally we use the income of the country as the comparison, since the government is free to tax or claim any part of GDP. Government debt So our criterion for too much is debt (B, since typically government debt is issued in government bonds) over GDP (Y): B / Y Banks would make much the same calculation when considering whether to issue someone a home loan. In general debt is growing at the rate of interest each year, r, while GDP is growing at the growth rate of the economy, g. Monetary policy Firstly, monetary policy uses the level of interest rates to influence the economy in the short to medium term. Its major goals are to stabilise demand and inflation in the medium term and inflationary expectations and to achieve the governments objectives of sustainable growth with underlying inflation of about 2-3%. Source: Chapter 12 of the book plus second part of Module 3. Monetary policy is the government operation of the money supply and interest rates. Typically we consider the problem of how the government can manipulate monetary policy so as to control economic variables such as output, inflation, interest rates, etc. Issues: how monetary policy can stabilize the economy? how will monetary policy affect interest rates or exchange rates? Who operates monetary policy? The Reserve Bank of Australia (RBA) is responsible for monetary policy. The RBA was given 3 goals when it was created: Maintain low inflation Maintain low unemployment Maintain value of the A$ The RBA was only given one policy tool- the money supply to achieve 3 goals. In the mid 1990s, the RBA was simply told to have one aim: Maintain low inflation. Definitions The RBA implements monetary policy through its control of the cash rate. Cash rate: The cash rate is the rate the RBA charges bank for loans within the RBA reserves system. The cash rate is the base interest rate for the economy, and all other interest rates are derived from it. Easy monetary policy: When the RBA lowers the cash rate to stimulate AD. Tight monetary policy: When the RBA raises the cash rate to cut off AD. Interest rates As we saw in the Investment section, the profitability of investment projects depends on the nominal interest rate. The lower are interest rates, the more projects will be profitable, so the higher will be investment spending. Since the RBA controls the cash rate, and since all interest rates depend on the cash rate, the RBA controls I, and so can shift the AD curve. How monetary policy works Cause-Effect Chain of Monetary Policy: Money supply impacts interest rates Interest rates affect investment Investment is a component of AD Equilibrium GDP is changed Monetary policy and the open economy Net Export Effect Changes in interest rate affect the value of the exchange rate under floating exchange rate. An increase in interest rate appreciates the currency, resulting in lower net exports A decrease in interest rate leads to currency depreciation and a rise in net exports So an easy monetary policy is enhanced by the net export effect. Quantity theory of money There is a nice, simple model of money which explains many features of money supply and demand. This model is called the quantity theory of money. If we imagine that money is needed for all of the purchases made each year, then demand for money is the vale of purchases: PY. The supply of money for purchases is the amount of cash in the economy. But each piece of money in the economy can be used multiple times during a year in transactions. We call the number of transactions the velocity of money v. Quantity theory of money So the total supply of money for transactions in a year is v times M: vM. So demand equals supply requires that: PY = vM So if Y goes up, but nothing else does, then average level of prices must fall. The QTM is good to use for thinking about money and inflation. Unemployment A person becomes unemployed: Job loser Job leaver New entrant or re-entrant into the labour force He or she is no longer unemployed: Hired or recalled Withdraws from the labour force Labour force participation rate Unemployment rate Types of unemployment Three main types of unemployment: Cyclical unemployment Frictional unemployment Structural unemployment Cyclical unemployment Associated with the ups and downs of the business cycle Takes place due to insufficient aggregate demand or total spending- reflects shifts in AD curve. High during recessions and low during booms. Fiscal and monetary policies can reduce cyclical unemployment policies are relevant. Frictional unemployment Associated with the period of time in which people are searching for jobs, being interviewed and waiting to commence duties. It is inevitable and always exist Fiscal and monetary policies can not reduce frictional unemployment macroeconomic policies are irrelevant. Policies that make it easier to find new jobs will affect