Public policy problem Essay Example | Topics and Well Written Essays - 2000 words

Public policy problem - Essay Example Generally speaking, a person is considered obese when that individual has more body fat than is considered healthy for their particular age, height and gender. Though obesity is normally only regarded as a grown-up problem, their kids face even greater risks associated with the condition. While other types of physical conditions may be easier for children to hide under their clothing or to mask in various ways, obesity is impossible to hide under clothing and too often leads to them being teased or otherwise tormented by cruel jokes by their misunderstanding schoolmates. The disapproving stares and negative looks from other adults and children greet them every time they meet another set of eyes. This often unconscious response on the part of other people can contribute to severe emotional damage that often lasts a lifetime. Even when the excess weight is lost, these psychological scars can drastically impact the child’s ability to achieve the level of fulfillment and happiness that should be every child’s right. The physical consequences of obesity are also unacceptably extensive. It is widely acknowledged that obesity can significantly lower life expectancy despite the person’s age. With obesity now accepted as being at pandemic proportions, it is of supreme importance to identify the common causes of obesity as well as the most effective methods of treating it to help children overcome the social and personal drawbacks of being overweight. One of the most disturbing features of obesity is its close association with more than 30 adverse health conditions and countless psychological ramifications. Increasingly, younger persons are starting to experience arthritis of the hips, back, hands and knees as a result of the long-term misuse their bodily systems must endure. The possibility of breast cancer is doubled for people who are obese as compared to people who maintain a somewhat stable weight as an adult or ‘normal’ weight as a child. Other cancers such as esophageal, gastric, endometrial and colorectal cancers are also much more common among the obese, even those at younger ages. It seems pointless to list the elevated risk of cardiovascular disease because of obesities direct correlation with higher levels of cholesterol in the bloodstream which blocks arteries of the heart (â€Å"Health Effects†, 2002). This problem is aggravated in obese persons due to their veins being more constricted. This has the effect of impeding oxygen transmission to bodily tissues and provoking complaints of sleepiness, general fatigue and breathing problems. Predictably, all of these side effects and other associated risks of obesity or just being overweight have a negative impact on a child’s rate of growth and their general ability to develop. â€Å"Even for children, obesity can increase the risk of stroke and hypertension, a statistic supported by the fact that more than 75 percent of people who suffer fro m hypertension are obese†

Code of Conduct Essay Example for Free

Code of Conduct Essay As a consultant for the merger between UWEAR and PALEDENIM, I have gathered much information pertaining the creating and implementation of a code of conduct. There are many different ways this code of conduct can be implemented and delivered. While understanding that each company will have different preferences as to how to implement the code, I will submit an outline of what I believe is the best and most efficient way to deliver the code of conduct for both companies equally. A code of conduct will create a framework or visual of how employees and clients will view the company as a whole. â€Å"The existence of the codes seem to frame how the companies and their activities are understood.† (Frostenson, Helin, Sandstrà ¶m, 2012, p. 269) The code of conduct for UWEAR and PALEDENIM will include four main components: Our Code and Responsibility, Violations and Consequences, Law Compliances and Regulatory Orders, and Policies and Procedures. Our Code and Responsibilities This would be the first section of the code of conduct. It should include the overview of the code, the responsibilities the code provides to the company, and those persons who must abide by the code. The responsibilities of the code are to serve as a guide to help employees, officers, and board members in making informed and ethical decisions. All persons including third parties, business partners, and contractors must know and understand the code and act in a way that is consistent with the code. Violations and Consequences Violations and consequences will be listed in this section, but will not be limited to the written communications here. Employees will be encouraged to know and understand each violation listed and its consequences. They will also be expected to report any observed accounts of unethical behavior. Consequences would include but wouldn’t be limited to separation of employment. Law Compliances and Regulatory Orders The information listed here would be mostly useful to management and executive level officers. However, employees must maintain knowledge and  understanding of this section in order to remain compliant at the door level. All federal regulations will be stated in this portion of the code of conduct. For example, the policy created to implement the Public Company Accounting Oversight Board (PCAOB) to monitor internal auditing policies would be stated in this section. Here is where the human resources department will verify the company’s compliances with federal regulatory acts such as the Sarbanes- Oxley Act. Policies and Procedures The policies and procedures section will include all policies that employees, managers, and board members must follow. There will be sections to separate the policies that apply to each individual level. Although board members and managers are ranked higher than door level employees, they must still abide by the policies and procedures of the lower level employees. For example, the No Gift policy as stated in previous works, will be listed under a section for door level employees but must still be followed by all employees of the company. This will guarantee a fair level of work and maintain employee moral as far as ethics and behaviors are concerned. Consistency across the board for all employees and work levels, is the goal in stating the policies and procedures. Non-compliance to policies and procedures will be stated in the violations and consequences section. After the code of conduct is fully compiled and voted on by the ethics board, it must be delivered. Although having a creative way to present the code of conduct to the company, it is more important to understand the client and their expectations. Preparation as a speaker would be my main focus in delivering the code. â€Å"As much as technology has advanced and improved the quality of audiovisuals aids in presentations, it is important to review the basics of being a better speaker.† (Lucente-Cole, 2004, p. 42) Preparing myself to deliver the code of conduct in a way that generates feedback from the audience, will allow me to verify understanding and knowledge of the code. The code would be delivered in a new employee handbook and reviewed in all new hire orientations. Each new hire would be required to sign for receipt and understanding of the communications in the code of conduct. As for existing employees, they will review and sign for receipt during the next quarterly mee ting. There are other additional policies that haven’t been listed or discussed but should definitely be included. One of the most common policies that hasn’t been established is attendance. The attendance policy would be carried out or listed in different stages. For example, if an employee is tardy, there would be a verbal counseling to address stage one of the tardy policy in attendance. If that employee is tardy again, they will be disciplined according to stage two of the attendance policy. Disciplinary actions can be reduced or removed from an employees record after that employee exemplifies compliance with the policy for six months. Last but certainly not least, UWEAR and PALEDENIM should have a policy addressing sexual harassment. Sexual harassment occurs very often in the workplace. UWEAR and PALEDENIM must state explicitly, the expectations and consequences of sexual harassment. â€Å"Harassment does not have to be of a sexual nature, however, and can include offensive remarks about a person’s sex. For example, it is illegal to harass a woman by making offensive comments about women in general.† (Sexual Harassment, n.d., para. 2) They, UWEAR and PALEDENIM, must make sure each employee understands what could be considered as sexual harassment in order to maintain compliance to this policy. Due to the fact that major lawsuits can be created from an occurrence of sexual harassment, this policy will be listed under Law Regulations and it must be strongly enforced. References Frostenson, M., Helin, S., Sandstrà ¶m, J. (2012). The internal significance of codes of conduct in retail companies. Business Ethics: A European Review, 21(3), 263-275. doi:10.1111/j.1467-8608.2012.01657.x Lucente-Cole, G. (2004). Delivering An Effective Presentation. Public Relations Quarterly, 49(4), 42. Sexual Harassment. (n.d.). Retrieved September 22, 2014, from http://www.eeoc.gov/laws/types/sexual_harassment.cfm

Literary Criticism of Swift’s Poetry Essay -- Swift

Literary Criticism of Swift’s Poetry In her article, "Voyeurism in Swift's Poetry," Louise K. Barnett explores the trend of voyeurism m the works of Jonathan Swift. She speaks broadly about the use of this technique in his work and concentrates on a few poems including "The Lady's Dressing Room." Barnett believes that Swift's poetry tends to be more voyeuristic than it is obsessed with excrement and decay. To support this, she maintains that each poem centers around the experience of seeing the obscenity (i.e. "The Lady's Dressing Room" revolves around Strephon's response to Celia's dirt and dung) rather than the obscenity. Barnett claims that the act should offend readers more than the content: "What is seen [in Swift] - a pathetic streetwalker disrobing, a disordered dressing room and lavatory - is not truly extraordinary; the appropriation of private experience and the poetic vindication of it are more so." (18) The fact that Swift looks at (and writes about) the private life constitutes a betrayal that should make the reader uneasy. (19) In light of this, Barnett suggests: What makes voyeurism such a powerful aesthetic strategy is its violation of the taboo of privacy, its denial of a condition that we take for granted as our right - namely, not to be observed in certain places, at certain times, doing certain things. 17 The private life consists of details that the public life would rather deny or at least hide. (17) If one person examines the private life of another (i.e. Strephon sees Celia's dressing room), the credibility of that public life is destroyed for him or her. If a large number of people examine that private life (i.e. readers of Swift's "The Lady's Dressing Room"), the public facade is totally dest... ...tion of some sort of improper behavior." (20) I found Bamett's article engaging but difficult to digest. She tries to fit words like "obverse" and "espousal" into her work smoothly, but instead leaves the reader pouring over her words with a dictionary nearby. (This seems to be a trend in literary criticism - apparently, the bigger your words, the more people believe that you know something they don't!) She sets up her argument for "The Lady's Dressing Room," "A Beautiful Young Nymph Going to Bed," and "The Legion Club" to be considered voyeuristic rather than scatological efficiently. Though I disagree, her belief that Swift objectifies women just as the Romantics he critiqued deserves merit. The only downfall is the abuse of a thesaurus. Works Cited Barnett, Louise K. "Voyeurism in Swift's Poetry." Studies in the Literary Imagination. Spring l984: 17-26. Literary Criticism of Swift’s Poetry Essay -- Swift Literary Criticism of Swift’s Poetry In her article, "Voyeurism in Swift's Poetry," Louise K. Barnett explores the trend of voyeurism m the works of Jonathan Swift. She speaks broadly about the use of this technique in his work and concentrates on a few poems including "The Lady's Dressing Room." Barnett believes that Swift's poetry tends to be more voyeuristic than it is obsessed with excrement and decay. To support this, she maintains that each poem centers around the experience of seeing the obscenity (i.e. "The Lady's Dressing Room" revolves around Strephon's response to Celia's dirt and dung) rather than the obscenity. Barnett claims that the act should offend readers more than the content: "What is seen [in Swift] - a pathetic streetwalker disrobing, a disordered dressing room and lavatory - is not truly extraordinary; the appropriation of private experience and the poetic vindication of it are more so." (18) The fact that Swift looks at (and writes about) the private life constitutes a betrayal that should make the reader uneasy. (19) In light of this, Barnett suggests: What makes voyeurism such a powerful aesthetic strategy is its violation of the taboo of privacy, its denial of a condition that we take for granted as our right - namely, not to be observed in certain places, at certain times, doing certain things. 17 The private life consists of details that the public life would rather deny or at least hide. (17) If one person examines the private life of another (i.e. Strephon sees Celia's dressing room), the credibility of that public life is destroyed for him or her. If a large number of people examine that private life (i.e. readers of Swift's "The Lady's Dressing Room"), the public facade is totally dest... ...tion of some sort of improper behavior." (20) I found Bamett's article engaging but difficult to digest. She tries to fit words like "obverse" and "espousal" into her work smoothly, but instead leaves the reader pouring over her words with a dictionary nearby. (This seems to be a trend in literary criticism - apparently, the bigger your words, the more people believe that you know something they don't!) She sets up her argument for "The Lady's Dressing Room," "A Beautiful Young Nymph Going to Bed," and "The Legion Club" to be considered voyeuristic rather than scatological efficiently. Though I disagree, her belief that Swift objectifies women just as the Romantics he critiqued deserves merit. The only downfall is the abuse of a thesaurus. Works Cited Barnett, Louise K. "Voyeurism in Swift's Poetry." Studies in the Literary Imagination. Spring l984: 17-26.

Financial Distress Paper Essay

The current global economic crisis has seriously affected the financial activities of my academic institution. One of the major donors for our business school, a bank, has pulled out and is currently facing charges of breaking federal banking regulatory laws. All indications are that the bank will go under and will have to file for protection under chapter 11. With this conduit of funds no longer there, the business school will have to restructure. There are five programs currently in place at the business school, three of which are involved in teaching and research. They have been in existence for the last thirty years. As the head of faculty for the business school, I will recommend to the long range planning committee that the restructuring be directed at the other two programs. These are recently introduced graduate management courses, whose students, totaling fifty in number, can be gradually absorbed within the other graduate business courses. The cuts will therefore have to be effected within the faculty staff of the two programs being phased out. All tenured and non-tenured faculty staff will receive a one year termination notice with full severance benefits. Since their total combined yearly compensations is about as much as lost donor funding, the scaled down business school will be able to survive until other avenues are found to fund new programs. These recommendations will be made based on the need to retain teaching and research as a priority. Students who are currently enrolled in all programs will not suffer as they will be retained to continue learning within the existing programs. Additionally, the retrenchment will not be abrupt, but will be implemented over the course of one year, giving affected faculty staff ample time to appeal or seek positions elsewhere. Distress Paper 2 References Senate of Michigan Technological University (1985, May). UNIVERSITY RETRENCHMENT POLICY. Retrieved August 1, 2009 from http://www. sas. it. mtu. edu/usenate/propose/80-89/7-85. htm

Diliman Preparatory School Essay

Introduction Meeting deadlines appear to be very stressful among students. They like to work at the very last days to run after the deadline. Cramming like a speedy horse in complying with a given specific task the day or night before. Why? It is a matter of upbringing or behavioral pattern that governs the mentality of a student thinking that he could work or think more intelligently and logically if the time has already been running out. Modern technologies like cell phone, internet, and television catch the attention and focus of the students in terms of doing school work. Facebook addiction as a form of leisure and going away from family or environmental problems has been accumulating throughout the daily lives of a number of students. More often than not, students blame their teachers about giving short deadlines and heavy assignments. Failure to meet submission deadlines is one of the causes why students get a low grade. Most teachers give a deduction in the grades if the student does not care with the period within which to prepare the task assigned. STATEMENT OF THE PROBLEM This study aims to solve these following questions: 1. What are the disadvantages of not passing projects on time? 2. What are the solutions to the problems bought by the disadvantages? 3. How do the students deal with the set deadlines? 4. What are the factors that make high school students of Diliman Preparatory  School neglect to meet deadlines? HYPOTHESIS â€Å"High school students of Diliman Preparatory School have difficulties in meeting deadlines because of their personal priorities.† IMPORTANCE OF THE STUDY The goal of this study is to help the faculty members to know and understand why students fail to meet submission deadlines. This thesis will also assist the students to know their weaknesses, to change and deal with difficulties in school especially when submitting projects. It aims to help further related topics conducted by students on their research work. Furthermore, we would like to know what might cause the problem on school work. Likewise, the researchers want to know the possible ways to prevent failure in submission deadlines. DEFINITION OF TERMS Addiction- to much usage of something Deadline- the time by which something must be finished or submitted Extra-curricular activites- non-academic activities in school Laziness- declined to work Peer pressure- social pressure by members of one’s peer group Procrastination- the act of delaying something Resources- an available means Time management- setting of priorities in a given time SCOPE AND DELIMITATION OF THE STUDY This study is only covers the reasons why high school students of Diliman Preparatory School fail to meet submission deadlines. Conduction of survey will be done from both honors and non honors classes. Random students will be chosen as a sample to avoid biased results. This will only be limited within the Diliman Preparatory School campus. No other people from different campus can be part of this study. REVIEW OF RELATED LITERATURE Procrastination or â€Å"intentional delay†?  By Amy Novotney Procrastination hinders many graduate students, but sometimes delaying work to plan ahead or take a break can be beneficial. Jenny Cartinella cleans her apartment. Cathy Webber does math puzzles. Matt Kressin checks sports scores, and Carmen Ramirez Walker updates her Facebook page. All of them are psychology students putting off other tasks they’re supposed to be doing. It’s a tough habit to break, particularly these days when the Internet allows students to escape dissertation-writing frustrations with the click of a mouse. A 2007 meta-analysis by University of Calgary psychologist Piers Steel, PhD, reports that 80 percent to 95 percent of college students procrastinate, particularly when it comes to doing their coursework (Psychological Bulletin, Vol. 133, No. 1). Graduate students may be better than undergrads at fighting off procrastination, but they’re still pretty good at putting things off. In a 1997 survey, University of Denver School of Education professor Kathy Green, PhD, found that procrastination was one of the top reasons doctoral students failed to complete their dissertations (New Directions for Higher Education Vol. 1,997, No. 99). â€Å"Procrastination is a natural part of graduate school,† says self-proclaimed postponer Kressin, a clinical psychology student at the School of Professional Psychology at Forest Institute in Springfield, Mo. â€Å"It’s so important to learn how to deal with it.† What triggers students to clean out closets or wax the car when it’s time to work on their statistics paper? Usually it’s self-doubt, says procrastination researcher and Carleton University psychology professor Timothy A. Pychyl, PhD. â€Å"As students, you’re always being pushed out of your depths—that’s what learning is,† Pychyl says. Graduate students worry about performing inadequately or fear their success may raise others’ expectations of them, he says. Other students may actually think they get a thrill out of delaying their work and believe they work best under pressure, though that’s not borne out in the experimental data, says DePaul University psychology professor Joseph Ferrari, PhD. Several studies in Steel’s 2007 meta-analysis suggest procrastination is negatively related to overall GPA, final exam scores and assignment grades. â€Å"Students seem to remember the one time that maybe waiting until the last minute did pay off with a good grade, but they  forget the other nine times when it didn’t,† Ferrari says. Procrastination can also take a toll on a student’s mental health and well-being. In one 2007 study, Florida State University psychologists Dianne M. Tice, PhD, and Roy F. Baumeister, PhD, examined procrastination among students in a health psychology class. They found that early in the semester, procrastinators reported lower stress and less illness than non-procrastinators, but that late in the term, procrastinators reported higher stress and more illness (Psychological Science, Vol. 8, No. 6). Educational psychologist Bruce W. Tuckman, PhD, has devoted much of his career to helping procrastinators learn how to get to work. As director and professor of the Ohio State University W.E. Dennis Learning Center, Tuckman teaches a course on learning and motivation strategies that 1,000 students attend each year. The course teaches students psychological principles and theories about achievement, motivation, self-regulation and information processing. Students also complete a questionnaire asking about which of 15 common rationalizations (see sidebar) for procrastination they use most often. They then learn about the most common reasons for procrastination, including a fear of failure, and several actions to take to ensure they meet their deadlines (see sidebar). In a paper he presented at this year’s American Educational Research Association annual meeting, Tuckman provided evidence that the course may really work: Over seven years, students who took the class ended up with higher grade point averages—typically about 0.5 points higher in the semester after the course. They also reported higher college retention and graduation rates than a control group of matched students who did not take the course. â€Å"It really makes a significant difference,† he says. Yet a small subset of researchers proposes that not all procrastination behaviors are harmful or lead to negative outcomes. In a 2005 study in The Journal of Social Psychology (Vol. 145, No. 3), Jin Nam Choi, PhD, a business professor at Seoul National University in South Korea, differentiated between two types of procrastinators: passive procrastinators, who postpone tasks until the last minute because of an inability to act in a timely manner, and active procrastina tors, who prefer the time pressure and purposely decide to delay a task but are still able to  complete tasks before deadlines and achieve satisfactory outcomes. Choi and co-author Angela Hsin Chun Chu, a doctoral student at Columbia University, tested the 12-item scale they developed to distinguish the two procrastination types among a group of 230 undergraduates from three Canadian universities. They found that although active procrastinators reported the same level of procrastination as their traditional or passive counterparts, they demonstrated a productive use of time, adaptive coping styles and academic performance outcomes that were nearly identical to—and in some cases even better than—those of non-procrastinators. In a study published in April in the same journal, Choi and McGill University organizational behavior doctoral student Sarah V. Moran developed and validated an expanded measure of active procrastination and confirmed the 2005 findings. â€Å"From my own life and findings from these studies, I believe that procrastination characterized by these four effects—outcome satisfaction, preference for pressur e, intentional decision and ability to meet deadlines—is beneficial for individual well-being and performance,† Choi says. But graduate students shouldn’t view this research as a free pass to spend hours on Facebook when they should be developing a bibliography for their thesis, merely because they think they’re doing it purposefully, Pychyl says. He argues that Choi’s research points out the positives of intentional delay, which can be a necessary part of managing daily tasks while pursuing our goals, he says. â€Å"Delay and procrastination are not the same things,† Pychyl says. â€Å"Let’s not confuse deliberate, thoughtful delay of action with the lack of self-regulatory ability known as procrastination.† Instruments, Tools and Techniques We use questionnaire as our survey forms for this study. Random selection of 50 respondents was done in order to get unbiased result. We gather information from the internet in order to find related studies in our research. Data analysis and procedure The survey forms which are approved by the principal asked the respondents if they like doing projects, how many projects did they usually do in a quarter, what are the reasons why teacher set deadlines, how long is the submission of project-making prior to submission, what are the reasons why students fail to meet submission deadlines, and what is the possible solution in order to help the students meet submission deadlines. After getting the information needed, we tallied and used the proper formula to interpret the data and make conclusion. Sampling Procedure We used random as a sampling technique, wherein we chose randomly a subset of individuals from a larger set. Each individual is chosen randomly in every year level by chance. Statistical Treatment We use percentage method and ranking scale for Statistical method. Manual computation took place because we need to rank the reasons of failure of meeting submission deadlines. SUMMARY Most of the students don’t like doing projects. Usually they do 4-6 projects in a quarter. It’s good to know that majority of them meet submission deadlines. They think that teacher’s give projects to teach them proper time management. The duration of project making prior to submission deadline is commonly 2 weeks. Many of the respondents ranked laziness as the main reason why students don’t meet deadlines and setting priority is the best way students think in order to submit requirements on time. CONCLUSION Based on the results of our data, we can conclude that laziness is the main factor why students fail to meet submission deadlines. Laziness may lead to lack of time management, technology addiction, and other factors stated above. Lack of allotted time for project making affects the student’s performance. Having many projects and lack to time may lead to student’s dilemma. RECOMMENDATION We suggest for the next researchers to have a broad study about the solutions in order to help students meet submission deadlines. For the faculty members and school administrators, we recommend conducting a study or survey among

The Subject Is Motivation And It Is To Look At Skyscanner (The Company

The Subject Is Motivation And It Is To Look At Skyscanner (The Company The Subject Is Motivation And It Is To Look At Skyscanner (The Company Name) – Essay Example Employee Motivation at Skyscanner By Employee Motivation During the recent Sunday Times 100 Best Companies list that was published on 2nd March 2014, Skyscanner was listed as the sixth best organisation that people would like to work for (Scottish Equity Partners 2014). In effect, this implies that the company has put in place an effective structure that focuses on placing a value on its people while concentrating on their learning and development with an aim of recruiting and maintaining top talent that steers the company to prosperity.According to various motivational theories and their application in the workplace, an organisation should motivate its employees with an aim of retaining them within the business organisation. Using the expectancy theory of motivation, Wood et al. (2010) noted the intervention that managers could use following the components of the theory in order to identify the needs of an employee and process them in a manner that the company benefitted from the in dividual employee. This is exemplified by the Skyscanner’s focus on the learning and development of its employees in order to improve their competencies and ensure that they worked towards the success of the company.The components of the expectancy theory of motivation are expectancy, instrumentality, and valence (Wood et al. 2010). In relationship to Skyscanner, the company’s program on developing its employees uses the expectancy theory of motivation to pick and train employees consistently with the goals that the company wants the individual employee to achieve in their execution of tasks. On the other hand, the company uses the component of instrumentality to establish strong performance possibilities after achieving their gaols in order to increase the possibility of a positive outcome. Lastly, the company uses the component of valence to identify the needs of the individual employee with a view of achieving a desirable outcome when handling their duties.Bibliogra phy Scottish Equity Partners. 4 March 2014. Skyscanner flies high in Best Companies to Work For 2014. [online] Available through: [Accessed 13 March 2014].Wood, J., Zeffane, R., Fromholtz M., Wiesner R., Creed A., Schermerhorn J., Hunt J. and Osborn R., (2010). Organisational Behaviour, Core concepts & applications (2nd ed.). Australia: John Wiley & Sons.

Accounting Ethics Essay Sample

Accounting Ethics Essay Sample Accounting Ethics Essay Accounting is a form of activity that intends to provide an inventory of a product or a system that contains numerical figures. Basically, accounting concentrates on numbers that are indicated from financial reports made by the operating organization. The purpose of using accounting practices is to determine the correct and accurate way of computing a certain numerical figure that represents the value of a product or a facility. In this case, the margin of committing errors when computing for numerical values are slim because there is a person responsible for handling financial transactions for the company. They are the accountants who are licensed to operate as financial advisors to the company that performs auditing and formulating financially related values of the company’s assets and liabilities. Accounting ethics is important because it deals with the principle of veracity. All details submitted by the accountants with regard to the financial reports of the company are stated in truth. This is in accordance with the statement of agreement that has been done between the accountant and the company to ensure that all information is correct and accurate with the financial reports and transaction histories. Creating financial reports are carefully drafted before finalizing the details because it needs a regular scrutiny with regard to the amount of assets and liabilities that were transacted by the company. This includes the value of a commodity that has been transacted by the company as well as the services that were included with the transactional activities. Reports of financial assets and liabilities are usually checked before confirming by the auditors is critical to prevent any conflicting of information that is indicated from the financial reports. The value of ethics in accounting practices generates a significant structure of involving the company to become functional and reliable. Accountants need to know the mechanics of computing assets and liabilities so that all details are correctly indicated from the financial reports. Financial reports are usually forwarded on a monthly basis so that the company can monitor any progress with its marketing strategies as well as management of its transactions. The value represents the company’s policies and activities to ensure that there are no discrepancies with the financial reporting system. Accounting ethics applies to every accountant by requiring them to undergo a licensure examination after their academic years. This is to allow accountants to be officially recognized as part of the national accounting society who are licensed after passing the board exam. Accountants play a major role in influencing proper standards of ethical values to comply with the regulating agencies against inconsistent reporting of finances. Having a team of licensed accountants values the degree of the company’s rightful way of presenting their financial reports to the public and accounting regulating firms. This is to ensure that the company is always open to allow the public about its presentation of assets on a monthly basis. Consumers can monitor the progress of the company’s asset management structure to determine if they are still competitive in the market. Transparency is an important value applied by the accounting ethics because it displays the truth about the company’s market value and interests over time. In this position, the value of accounting practices ensures that the company always improves its interest as well as virtues to improve its computational practices with the company in an accurate way (Ehrlich, 2016). Reference Ehrlich,  Paul R. (2016),  Conference on population, environment, ethics: where we stand now  (video, 93 min),  University of Lausanne.

Five Words in English and in Corporate-speak

Five Words in English and in Corporate-speak Five Words in English and in Corporate-speak Five Words in English and in Corporate-speak By Maeve Maddox Corporate-speak takes many forms, but especially mysterious is the practice of taking a familiar English word commonly understood to have one meaning and using it with a less familiar meaning. Here are five examples. 1. actionable common meaning: â€Å"giving cause for legal action.† Example: Disrespect in the workplace may constitute actionable behavior. corporate usage: able to be acted upon or put into practice. Example: From Apple to the Toastmasters, the world’s most successful organizations demand that attendees leave meetings with actionable tasks. 2. ecosystem common meaning: A biological system composed of all the organisms found in a particular physical environment, interacting with it and with each other. Example: Sockeye salmon vs. Pebble Mine: Protecting a fragile ecosystem in Alaska from destruction. corporate usage: a complex system resembling a biological ecosystem. Example: For me, a successful Entrepreneurial Ecosystem is a space run by people with very entrepreneurial minds. Ecosystems are self-supporting, energetic environments that attract, nurture, move on and reward different stakeholders.   3. granular common meaning: Consisting of grains or granules; existing in the condition of grains or granules. (granule: A small grain; a small compact particle; a pellet.) Example: â€Å"Sandpaper† is material upon which a granular layer of some abrasive has been fixed by means of an adhesive. corporate usage: attending to or explaining the fine details of a topic. Example: The CEO and CFO see the bottom line of the cost of your department more clearly than they see the success of individual projects. Theyre not idiots. They can get granular if they have to, but what they really want to know is if the total cost of IT is worth the output. 4. socialize common meaning: to civilize, to make suitable for society. Example: Pet owners socialize their puppies by taking them into different situations. corporate usage: to let people know about something. Examples: 1. Employees will form beliefs based on what they experience before and after you widely socialize the new purpose and those beliefs will drive their actions. 2. When a good idea hits, find the fastest, cheapest way to get something that will demonstrate and socialize the idea to at least some segment of the target marked.   5. surface common meaning: intransitive verb meaning to come to the surface, especially, to rise to the surface of water. Figuratively, â€Å"to surface† means to come to public attention after a period of obscurity or concealment. Examples: 1. Sometimes we saw the whale and the dolphins surface at the same time. 2. Fear of the truths that might surface about ourselves corporate usage: transitive verb meaning â€Å"to raise.† Example: Plan on meeting regularly so that team members stay informed and any issues you surface are resolved in a timely manner. All occupations develop specialized terminology that serves a practical purpose. For example, terms like banner, head, and gutter provide useful shorthand in the context of running a newspaper. Used in an occupational context, the words’ other meanings do not impede communication. Wrenching the meanings of words like socialize and surface however, has the effect of muddying communication. Speakers who wish to be understood by the largest number of listeners will do well to avoid such meaningless cant in their business meetings and correspondence. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Business Writing category, check our popular posts, or choose a related post below:Grammar Test 1Capitalization Rules for the Names of GamesHow to Style Legislative Terms

An Issue That Impacts Distance-Education Learning Research Paper

An Issue That Impacts Distance-Education Learning - Research Paper Example From the discussion it is clear that though the program objectives and purposes are the same, the main difference is that distance learning occurs via web-based technology. This technology connects both the student and the faculty members separated by time and space denying them face-to-face interaction, essential for development of effective teacher student supportive relationships. The lack of face-to-face contact requires the faculty members to develop many new roles to teach, guide, support and assess their students. They cannot be able to discern the body languages of their students over the web, which is crucial in teaching.This essay highlights that for successful distance nursing facilitation, instructors must learn and develop new social and technological skills to use over the net. They must be possessing flexibility, patience, and amiable persona essential in developing interactive communication and relationships with their students. They must also develop and improve thei r basic computer skills to understand the concepts of online web based technology, which requires considerable investment of time and resources for the faculty members to be comfortable with the technologies. Technologies used in distance learning include hybridized audio, video, printable and web based accessories, which maximize student learning experience and efficiency.  Ã‚  Instructors need to invest their time and resources to keep pace with new technologies.... They must also develop and improve their basic computer skills to understand the concepts of online web based technology, which requires considerable investment of time and resources for the faculty members to be comfortable with the technologies. Technologies used in distance learning include hybridized audio, video, printable and web based accessories, which maximize student learning experience and efficiency. Instructors need to invest their time and resources to keep pace with new technologies (Smith, Passmore, & Faught, 2009). Designing distance learning modules require the coordination of various specialists and experts and doing this is a considerable challenge for instructors who have different opinions and ideas. Keeping in touch with the wide number of students, who are at different locations and with different cultures, is also an extraordinarily difficult challenge for faculty members who may be forced to work under different time zones. They must be able to plan and deve lop multi site communications, which require continuous upgrading of hardware and policy to improve efficiency. Failure to do this would render the programs redundant because of lack of co-ordination. Increased use of web based technology for distance learning may infringe intellectual and copyrights of materials been transmitted over the net. The wide number of materials used by different instructors is sometimes impossible to employ without infringements, and they may expose these programs to lawsuits. There is an urgent need for clarification on most of the materials used. Online nursing programs are similar to other courses taught online (Smith, Heindel, & Torres-Ayala, 2008), but assessment becomes a problem. It is

Compare Article 5-109 (a) of the ( Amercian) Uniform Commercial Code Essay

Compare Article 5-109 (a) of the ( Amercian) Uniform Commercial Code with the approach under english, the full question is in - Essay Example The very relevance of a letters of credit is quintessentially based on its autonomy from the transaction that it supports. Any bank that issues a letter of credit simply cannot refuse to honour it and extend the requisite payments, once it is presented with the apt and authentic documents. This also stands to be true in a scenario when the transaction being backed by a letter of credit does not actually take place. On the one side, the letters of credit extend to the sellers the assurance of a guaranteed payment, while on the other side they safeguard the interests of the buyers by necessitating the presentation of the right documents that to a large extent ensure performance. Such documents may be the like of insurance forms, transportation documents and quality related certificates. The Autonomy Principle The underlying dogma supporting the autonomy principles associated with letters of credit is that the transaction backed by a letter of credit stands to be autonomous of the sales deed formalized by the buyer and the beneficiary. To put it simply, the two essentially contractual arrangements mentioned above are regarded as being independent of each other. In other words, the utility of a letters of credit is pragmatically solemnized by the severance of services and documents. It is this principle that is the legal ground on the basis of which banks agree to such transactions. Fraud Exception As already mentioned, a letter of credit is the legal and financial instrument, which extends to the beneficiary the security of getting the payment due to one. Yet, this bolstering of security to the beneficiary in a way dilutes the security against risk or loss to the account party. Thus, in the letters of credit, the balance of risk is tilted more in favour of the seller. Though the autonomy principle practically assures the expected commercial results in business transactions, this principle stands to be defective and inequitable when the underlying transaction is vi tiated by a fraud. Under such circumstances, the autonomy principle gets limited by the fraud exception. The US Approach In the United States, in Maurice O’Meara Co v National Park Bank, the court of law simply denied the possibility of invoking a fraud exception. The New York Court of Appeal ruled that that the primary concern of the bank should be pertaining to the veracity of the drafts and the accompanying documents, and not the associate transaction of goods. Also in New York Life Insurance Co v Hartford National Bank and Trust Co, the court ruled that the inquiry of a fraud by a bank needs to be limited to the establishment of the compliance of the documents with the letter of credit. Hence, the Uniform Commercial Code in the US allows the fraud exception only in case of a fraud in the complying documents. Besides as per Article 5-109(a) of the Uniform Commercial Code, even if a seller has committed a fraud in the complying documents, the bank is still required to honou r a letter of credit in a situation where the claim for payment has been transferred to a third party. The American approach actually safeguards the interests of the innocent third parties, by allowing for a waver of the fraud exception. The English Approach In the United Kingdom, in Harbottle v National Westminster Bank, the court stated that a buyer to avail any injunctive dishonour must establish an evident and clearly discernable case of fraud. This viewpoint laid the foundation

Psychology ADULT DEVELOPEMENT Essay Example | Topics and Well Written Essays - 1000 words

Psychology ADULT DEVELOPEMENT - Essay Example Most of the above mentioned spheres are not only influenced by the age an individual but are also influenced by other factors like the genetics and exposure to a particular environment Early adulthood is the period just after adolescence when the individual is in their early stages of maturation. The physical and mental processes are fresh and vibrant with the completion of maturation of the processes that takes a longer time to mature. Mid adulthood is the period marked by the twenties age bracket. This is when the bodily processes are at their optimum and it is closely followed by commencement of degeneration. The last phase is the late adulthood that is often marked by various symptoms of degeneration as the body is wasting away. This article will look keenly into the various processes that the adult of any one particular phase should look forward to in terms of the physical and mental development with time. It will also undertake to give a number of insights into several means that adults may consider in order to ensure that they optimally develop both physically and mentally. People reach the peak of their physical strength and stamina when they are in the twenties age brackets. ... The muscles look sturdy and healthy while the sin glows with youthfulness. Physiological changes often appear in the late adulthood. The strength and the endurance once associated with the youthful body of the individual gradually vanish with the passing of time. The rate at which the neural processes function reduces gradually with the brain experiencing some degree of atrophy (Knox1999p34).A common phenomenon with the digestive system includes the changes in the gastrointestinal tract that often leads to increased frequency in constipation. At the same time, the circulatory and respiratory systems undergo through some form of degeneration which results into inefficiencies in their functioning. Osteoporosis is another condition that comes with old age and is especially pronounced among women. The muscles weaken while the skin experiences a greater degree of dryness and inflexibility. Sensitivity in the five senses decreases while hair loss is experienced. Cognitive changes Cognition during the early and mid adulthood is usually high with the intellectual capability being at its peak. The changes often occur in the elderly phase of adulthood. It is reported that the response speeds decline with the age of an individual. The working memory is also often compromised in this phase thus resulting into problems associated with cognition. This group of adults also often suffer from disorders that eat up on their cognition. These disorders commonly known as dementias are found in approximately 15% of the individuals aged above 65 years (Cavanaugh 2003pp23-24). Behavior change The behavioral patterns found among the early adults reflect the nature of expectations

Assess the importance of Chapter One in Great Expectations by Charles Essay

Assess the importance of Chapter One in Great Expectations by Charles Dickens - Essay Example Pip is an orphan who has had a good though sometimes rough upbringing by his sister Estella. The focus in the entire novel is on the family, which starts from the very first chapter as Pip spends his time in the graveyard amongst his family members. He has never seen his parents ‘for their days were long before the days of photographs’ (5; ch 1). This also creates the atmosphere that the novel was created in the early nineteenth century. With child-like innocence, he conjures the image of his parents (whom he had never seen) by carefully studying the lettering on the tomb. The first chapter draws out the tension and creates the proper mood for the novel. ‘Ours was the marsh country (13; ch 1) denotes the depressing atmosphere in which Pip lives as a child. It symbolizes the uncertain and mysterious times in his life. This bleak place overgrown with nettles was the churchyard (15-16; ch 1), the low leaden line beyond, was the river; the distant savage lair was the sea (19-21; ch 1)– add to the dreary scene. It also builds up a sense of dread that something fearful is about to happen. Soon after this Magwitch appears and threatens to cut Pip’s throat. The repetition creates an atmosphere of subdued and miserable tension that besieged Pip’s life when he discovers in chapter 39 that his benefactor is none other than Magwitch, the escaped convict who he had met at the graveyard. This revelation is awful and it destroys the little peace that he had known. The chapter further illustrates that no act of kindness ever goes unnoticed. He is frightened into helping an escaped convict called Magwitch. Pip returns bringing food and drink for Magwitch and this act of kindness has important consequences later in the novel. It was an act out of fear, as Pip was scared of Magwitch’s violent threats and because Magwitch made him promise, "Say

Explain how to establish and maintain a safe and supportive learning Essay

Explain how to establish and maintain a safe and supportive learning environment - Essay Example The physical needs of students are essential in that they enhance even the health of students. To ensure that they are met, one needs to ensure that the learners engage themselves in physical activities. This creates a relaxed environment and full participation from learners. The social need and learning needs come in handy. This is because while trying to meet their physical needs, the spirit of team comes in which requires them to interact social can even learn from each other freely. Ideas are created from themselves and each one feels the urge to participate openly. Adjustments in sitting positions in class can also be made according to the strengths of different students. Students with diverse positions are likely to boost each other as their strengths are placed differently so each one of the wills to learn from the other according to their areas of weakness.Teachers and students do not have much in common. This makes it hard for the teachers to build a rapport with their students. They should therefore be trained on educational psychology (Jane Thungu, 2008). Rapport does not result to learning but is a key to the good conditions of a learning environment. It can be built through respect. Respect is a two way traffic and therefore teachers and students must have it for each other. Teachers must also create an approachable atmosphere where the students are made free to consult. Honesty is a virtue in a learning environment. For students to learn they must be told clearly but not brutally of themselves. To build rapport teachers should look interested. Students must be able to tell that their teachers care about them and their learning. A sense of humor is also of importance. (Granitz N.A, 2009). Teachers have to make professional judgment on student through each course. They should therefore always ensure that the students know what is expected of them at the end of the course. Randomly assessing them is however of importance.

Stakeholder Analysis Outline Example | Topics and Well Written Essays - 750 words

Stakeholder Analysis - Outline Example The promoter will be in charge of music, security and behind the scene work. Concert promoter will use the platform to market the and promote the music. The promoter will ensure the audience is entertained with the best musical performance. The organizing committee and the promoter will communicate through email.The audience will be assessed to discover the type of music that they like.The promoter will be informed of the type of music to play and the benefits.The promoter may utilize such an opportunity to sell music copies to the audience present.Concert investorAn investor utilizes the concert opportunity to make moneyThey may purchase the ticket and sell them to the audience at a slightly higher amount of moneyMacmillan cancer support is one of the investors that will utilize the event to receive donations from the audience and proceeds of the concert.The organizing committee will send an email to a number of investors and keep in touch with them by providing the necessary feedba cks for the event.An investor can work closely with the promoter to raise enough money for the event and share the profits accrued. The council Gives permission for hosting an event The council has to be informed of any event being organized in their area of authority.The organizers will inform the council through a letterThe event organizers may be forced to pay some money in cases where the council’s building is used to stage the event.

Explain how to establish and maintain a safe and supportive learning Essay

Explain how to establish and maintain a safe and supportive learning environment - Essay Example The physical needs of students are essential in that they enhance even the health of students. To ensure that they are met, one needs to ensure that the learners engage themselves in physical activities. This creates a relaxed environment and full participation from learners. The social need and learning needs come in handy. This is because while trying to meet their physical needs, the spirit of team comes in which requires them to interact social can even learn from each other freely. Ideas are created from themselves and each one feels the urge to participate openly. Adjustments in sitting positions in class can also be made according to the strengths of different students. Students with diverse positions are likely to boost each other as their strengths are placed differently so each one of the wills to learn from the other according to their areas of weakness.Teachers and students do not have much in common. This makes it hard for the teachers to build a rapport with their students. They should therefore be trained on educational psychology (Jane Thungu, 2008). Rapport does not result to learning but is a key to the good conditions of a learning environment. It can be built through respect. Respect is a two way traffic and therefore teachers and students must have it for each other. Teachers must also create an approachable atmosphere where the students are made free to consult. Honesty is a virtue in a learning environment. For students to learn they must be told clearly but not brutally of themselves. To build rapport teachers should look interested. Students must be able to tell that their teachers care about them and their learning. A sense of humor is also of importance. (Granitz N.A, 2009). Teachers have to make professional judgment on student through each course. They should therefore always ensure that the students know what is expected of them at the end of the course. Randomly assessing them is however of importance.

'In the current economic climate, what are the biggest challenges and Essay

'In the current economic climate, what are the biggest challenges and biggest opportunities facing new managers entering indus - Essay Example Finding unique strategy There are many innovations, as upshots of reaching certain competitive advantage in order to be on top of the competition, especially now that the current economic climate demands key players to do the right move in order to survive the tough and challenging times. The challenge therefore is to think of a strategy that is something new or as a new way, one that is unique and hard to emulate in order to achieve a highly sustainable competitive advantage. According to Porter, the only way to ensure a sustainable competitive advantage on the part of an organization is to employ strategies that are unique or hard to outdo (Porter, 1990). The current economic climate for instance allows the mobile phone producers to initiate strategies that are far better than the other. However, common to their prevailing strategies is to come up with new innovations from time to time, leading to facing off the old product trends or models. This gives the opportunity for consumers to become more sophisticated and look for what could benefit them to the fullest, including the opportunity to find for the best price at their advantage resulting to a strong market power that is enough for them to have remarkable bargaining power. On the other hand, this may challenge the competing companies to look for a more feasible strategy that along the way will have the ability to meet both the needs of the target consumers and the company. Finding for the best resource Considering the point that the current economic climate would mean finding the available or best resources in order to guarantee continuous operation, the other challenge for most managers in various organizations is finding the relevant resources linked to their actual operation. This is evident to many outsourcing activities initiated by major international companies (Cornejo, 2009). The case of call centers for instance is a perfect manifestation that many companies are employing third parties in order t o minimize their cost and guarantee profitability on the process. Not only that. Outsourcing human resource is proven effective especially if organizations will have to employ human resource with associated low labour cost. This is evident how international companies like call centers outsourced or instituted their operation in developing countries like in Asia where they could save on their actual operational cost. China for instance is a remarkable country with available resources especially the human resource that could be tapped to guarantee higher profitability. The challenge on the other hand is that there is on-going competition for allocating the best resource, which means individual companies will have to compete in this aspect, the hard way, knowing that having limited resources is not far from the impossibility with the current economic climate. Opportunity for creativity Despite the associated challenge in finding a sustainable competitive advantage through having unique strategy that is hard to emulate or copy, managers will have the opportunity to be as creative as possible in this aspect so as to initiate their goals (Chaston, 2012). They will have the opportunity to go beyond the limit, and think of possibilities that are not yet realised in the current set up of the prevailing economic climate. Consider the point of the highly differentiated offerings for mobile communication gadgets and the remarkable upgrade from

Comparing two Cds Essay Example for Free

Comparing two Cds Essay Nelly produced 2 CDs called Sweat and Suit. He then made the combination of the two using both CD covers to make one. On the Sweat Cd he portrays himself as a cool gangster. Hes wearing a white beeney hat and a white vest, giving him the image of a sexy, muscular and strong man. The shades and jewellery is giving us an idea that maybe he is an expensive person and loves his money. Also he comes across as if you ever put him on an auction block he wouldnt be sold because he is priceless. The clouds behind him give him the impression that maybe his music does have much of a meaning to him, or it could be implying that during the day he is more of a chilled and relaxed sort of person. Unlike the Sweat CD the Suit backdrop seems to be of a street, which could be implying that maybe his music is more down to earth, and has a lot of meaning, and maybe this is when he gets in his zone and feels the happiest. I also get this impression from his clothes. He is looks more sophisticated, important and in control of everything, just because he is wearing a smart but casual black suit. He still keeps the bling and the hat though as though image is still one of the moist important things to him. These two images of him give us the idea that he might have a split personality, depending on who is around. The neon Nelly attracts your attention almost immediately because of the colour used. This I think is a tactic so his name can get stuck in you head. It also gives the cover a look of a casino or club, giving the cover a welcoming feel. This is different from the Sweat cover because his face grabs your attention first not his name and, his name blends more into the background and is of the same sort of colours. His facial expression on both CD covers and the main one, comes across as mean and serious, as though he is some one that shouldnt be messed with. I think it is a good idea that he has joined both CD covers because instead of just seeing one side of him you can see him as one. This way you can find out whether your assumptions were right or wrong, or whether you can find out anything more about him. The Sweat Suit is very clever as they have brought both the Sweat and the Suit faces to make one. The composition is cunning as well because they have made the face the centre, and main feature of the CD instead of making it smaller and shunting it to one side like they did on the other two albums. This is good because it grabs your attention immediately and stands out. The typography on his hat is like someone who has maybe graffito it and has also made it look gangster. Compared to the Nelly, Prince comes across very differently. Instead of having to guess what he meant by his title he basically spelt it out for you on the CD cover. Everything about it is different; the colours, the graphology and typography. On his Controversy CD he has made himself the centre of attention, but he has made himself small enough so you can see the background, which ties in with the title. He is wearing very 80s style clothing with a marching jacket, a bow tie, a shirt and waistcoat. The colours are very bland and not very exciting, although there are some studs and a brooch attached to the jacket. This shows that maybe they didnt have as much money in those days to spend lavishly or that coloured peoples music wasnt as recognised as it is today. The background is made up of newspaper clippings to do with god and whether you should believe in him or not. This was, and still is going on. Everyone says that you should believe in one type of god and if it isnt his or her god then you are a non-believer. I think this is one of the things he uses as an icon for himself, because it shows that maybe he does a lot towards spreading gods word, or showing everyone that god exists or not. The typography is in big bold writing so it stands out and you can read it easily. Prince is coloured in pink, and is positioned away from the image of him in the top right hand corner, right out of the way. His Emancipation Cd however is very different. It was only made ten yrs later but it is more alive and colourful. The composition is set out in a very clever and crafty way. In the centre of the CD cover is a picture of an elaborate male sex sign surrounded by chains. At the bottom of the cover there are two fists held up in the air. These could be symbolising either someone punching their fists up in the air because they know that they are now free, or they could be putting them up as if to get arrested. The fiery colours in the background could be expressing the persons feeling of anger or stress. During the last 30 decades I think the popularity of black solo artists has increased no matter what style of music it is. I also think that focus of black artists back then was not just on them but what the music is about. Unlike today where it just seems to be about the person and how cool and great they look. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Miscellaneous section.

The Cold War :: essays research papers

1. Name of President- Harry S. Truman 2. Dates in Office- 1945-1952 3. Political Party- Democrat 4. Presidential Cold War Philosophy President Truman’s philosophy was to come to the defense of those countries in danger of Soviet takeover, but the US would not start a war with the Soviet Union. He also made alliances with Europe through NATO, which was a contrast to the past because from the time of Washington’s Farewell Address, Americans have strongly favored avoiding all foreign entanglements. He also was taken over by the paranoia created by the Red Scare because he ordered investigations of 3 million federal employees for â€Å"security risks.† 5. Actions taken during presidency in regard to Cold War.   Ã‚  Ã‚  Ã‚  Ã‚  a. The Beginning of the Cold War- The end of World War II raised the issue of the shape of the   Ã‚  Ã‚  Ã‚  Ã‚   new world and what new political alliances would be formed. This would become the major   Ã‚  Ã‚  Ã‚  Ã‚   source of contention between the world’s leading political-economic system, capitalism and   Ã‚  Ã‚  Ã‚  Ã‚   communism. The American economy was growing more dependent on exports, while American   Ã‚  Ã‚  Ã‚  Ã‚   industry needed to import metals. This required open trade and friendly relations with those   Ã‚  Ã‚  Ã‚  Ã‚   nations that provided metal. With many economies in shambles, competition for the few healthy   Ã‚  Ã‚  Ã‚  Ã‚   economies became fierce. Germany, Japan, and Great Britain, who had been the strongest before   Ã‚  Ã‚  Ã‚  Ã‚   war had either been defeated or their influence was greatly reduced. The United States and the   Ã‚  Ã‚  Ã‚  Ã‚   Soviet Union became the world’s leading two powers, and they quickly became enemies.   Ã‚  Ã‚  Ã‚  Ã‚  b. The Truman Doctrine- After the Soviet Union had spread communism to Hungary   Ã‚  Ã‚  Ã‚  Ã‚   and Czechoslovakia, it threatened to take over Greece and Turkey. Truman was intent on   Ã‚  Ã‚  Ã‚  Ã‚   preventing this. The Truman Doctrine states that the US would support the free peoples who   Ã‚  Ã‚  Ã‚  Ã‚   were resisting the attempted subjugation of the Soviet Union. This was the cornerstone of a   Ã‚  Ã‚  Ã‚  Ã‚   larger policy called containment, which provided that while the US would not go to war with   Ã‚  Ã‚  Ã‚  Ã‚   the Soviet Union, it would come to the defense of countries in danger of Soviet takeover.   Ã‚  Ã‚  Ã‚  Ã‚  c. The Marshall Plan- This was a way to gain alliances. This plan sent more than $12 billion   Ã‚  Ã‚  Ã‚  Ã‚   to Europe to help rebuild its cities and economy. In return for that money, those countries   Ã‚  Ã‚  Ã‚  Ã‚   were expected to become American allies. It was offered to Eastern Europe, but no country   Ã‚  Ã‚  Ã‚  Ã‚   participated.   Ã‚  Ã‚  Ã‚  Ã‚  d. North Atlantic Treaty Organization (NATO)- This was a mutual defense alliance

Macbeth Essay: The Witches Prophecy And WHat They COuld Mean

Macbeth Essay Macbeth is the story of a man who, finding himself faced with a moment of choice, lets the bad side of his nature dominate him. He considers his choices carefully, looks at the alternatives, and deliberately chooses the course he knows to be evil. From this time on he seems unable to turn back to the good side. In the beginning, he starts out at the height of his success and honor, but then follows a long dark path to despair. Macbeth did not make these choices on his own though, there were other supernatural forces swaying his decisions. These forces are three witches who make six prophecies†¦ There are two sets of prophecies, one with three predictions each. One set is in the beginning of the book, and the second set near the end. The first prediction of the first set is ...

Parts of Thesis

Parts of a Thesis (Descriptive Design) 1. Chapter 1 (The Problem: Rationale and Background) 1. 1 Statement of the Problem 1. 2 Hypotheses 1. 3 Theoretical/Conceptual Framework 1. 4 Significance of the Study 1. 5 Scope and Limitations of the Study 1. 6 Definition of Key Terms 1. 7 General Organization and Coverage of the Study 2. Chapter 2 (Review of Related Literature) 2. 1 Related Legal Bases 2. 2 Related Literature (Local and Foreign) 2. 3 Related Studies (Local and Foreign) . 4 Justification of the Present Study 3. Chapter 3 (Methodology) 3. 1 Research Design 3. 2 Determination of Sample Size 3. 3 Sampling Design and Technique 3. 4 The Subjects 3. 5 The Research Instrument 3. 6 Validation of the Research Instrument 3. 7 Data Gathering Procedure 3. 8 Data Processing Method 3. 9 Statistical Treatment 4. Chapter 4 (Results, Analysis and Interpretation) 5. Chapter 5 (Summary of Findings, Recommendations and Conclusions) 6. Bibliography 7. Appendix 8. Curriculum Vitae Parts of a Thesis (Experimental Design) 1. Chapter 1 (The Problem: Rationale and Background) 1. 1 Statement of the Problem 1. 2 Hypotheses 1. 3 Theoretical/Conceptual Framework 1. 4 Significance of the Study 1. 5 Scope and Limitations of the Study 1. 6 Definition of Key Terms 1. 7 General Organization and Coverage of the Study 2. Chapter 2 (Review of Related Literature) 2. 1 Review of Related Legal Bases 2. 2 Review of Related Literature (Local and Foreign) 2. Review of Related Studies (Local and Foreign) 2. 4 Justification of the Present Study 3. Chapter 3 (Materials and Methods) 3. 1 Research Method 3. 2 Materials 3. 3 Equipment/Apparatus and Utensils 3. 4 Procedure 3. 5 Training of Panelists 3. 6 Evaluation of the Results 3. 7 Statistical Treatment 4. Chapter 4 (Results and Discussion) 5. Chapter 5 (Summary of Findings, Conclusions and Recommendations) 6. References 7. Appendix 8. Curriculum Vitae

Putting India to Work Legally Essay

In order to remain India’s largest employer, they had to keep up with the explosive growth and competition in the telecommunications, financial services, and retail sectors. 2. ) Going forward, TeamLease has faced a few challenges along the road. First, TeamLease decided to move from a decentralized to a centralized structure for operations, causing fear and resistance from clients who were afraid of the loss of personalized services and fear from TeamLease employees who disliked the idea of relocating. TeamLease also had a difficult time filling open positions. Many people were registered with the government-run employment exchanges and many of these people were not fully qualified for the job. TeamLease also tried to partner with training companies but there was no training company that would accept their concept of paying for their services only after their trainee has been placed with a job. They also took a big hit during the 2009 recession causing the open job market to drop dramatically and as well as a decrease in client support. . ) The competitors that worry me the most are Addeco and Randstad. Addeco seems to be the largest HR staffing service company followed by Randstad. Addeco is a major threat with over 33,000 employees and 5,500 branches, in over 60 countries. Randstad has 28,700 employees, 3,500 branches, in over 40 countries. TeamLease on the other hand has 75,000 employees in 600 branches. TeamLease may have more employees, but Randstad and Adecco seems to have mo re qualified employees and are more spread out worldwide. TeamLeast has the least amount of branches among its top competitors.I believe that TeamLease should put more money into staffing and training in order to have more suitable and a more experienced staff in order to maintain competitive advantage. They should also try to increase or spread out more of their branches to other countries. TeamLease should also put more effort into marketing and their advertising campaign. Last, they should consider offering employee incentives such as days off or bonuses’.

Positive Discrimination

Compensates MinoritiesFor centuries, blacks and minority groups were enslaved and oppressed. The upper-class groups enjoyed all the benefits and took a large share of the cake. These minorities worked for centuries without labor wages, were subjected to brutal punishments, their lands were snatched from them, and most of them were denied most of the fundamental rights provided by the Constitution. Affirmative action emphasizes on providing compensation to the descendants for the wrongs and ill treatments done to their ancestors.Serves As A BoosterMinority students, on a general note, start off at a disadvantageous level in college or job application process. They belong to lower income families and hence, have fewer opportunities to study in good private schools as opposed to other high-class students. Though they are equally capable of working hard and proving themselves, they are left behind due to their caste and class. Affirmative action balances these differences out.Exposure To Varied FieldsThrough affirmative action, men and women are exposed to areas of study or fields of work that they may not have otherwise considered trying their hands on. With the designing of affirmative action, men are brought into nursing, while women are familiarized to technology fields. The more the stereotypes are changed today, the less affirmative action we will require in the future.Positive discrimination towards women in society is justified. Yes because: Women require positive discirmination because in the past they were considered slaves in a patriarchal society. Presently, they are still dominated by men in a lot of social enviroments: family, work, on the street, and many others enviroments. For this reason women should have more benefits in society as an attempt to even out their disadvantaged status. â€Å"If anyone is disadvantaged it is men†. This quote sums up the idiocy of the oppositions argument. How many female presidents have there been? How female  CEO's are there of the worlds top companies?Workplace: A benefit of positive discrimination is that it ensures people won't be out of work because of their gender, race or other conditions or disabilities. It helps to level the professional playing field for different people.Disadvantages Of Affirmative ActionReverses DiscriminationThis is probably the most significant advantage of introducing affirmative action. It tends to put an end to discrimination and unfair treatment to students/employees on the basis of sex, race, color, religion, or national origin, while in reality, the opposite takes place. Whites work harder and are more qualified than blacks. As a result, they are strictly passed over the blacks in all fields of education and employment. With the introduction of affirmative action, a poor white is overlooked by a rich minority student, simply because of these measures.Lower Standards Of AccountabilityIf a minority student is able to get himself admitted to Harvard Uni versity with a 3.2 grade average, why should he put in extra efforts to get a 4.0? Such is the attitude of minority students who enjoy these benefits. There are students and employee who can push up to achieve excellent grades, but by setting low standards for admission or hiring, the accountability levels get lowered. Hard work, discipline, and achievement should be rewarded equally and not partially to people who simply belong to certain race or group.True Minority Achievement Is DemeanedIf you hear an underprivileged person describing his achievements as a result of hard work and talent, not all will be wrong to assume that his success is due to affirmative action. Considering major professional fields, such as doctors, lawyers, business leaders, and so on, most minority people are  demeaned and humiliated assuming that they achieved success on their preferential treatment. Thus, minorities are forced to work twice as hard to earn true respect and recognition.Positive discrimin ation towards women in society is justified. Not because: Discrimination is never ‘positive'. In a civilized society, it is not exceptable to treat people differently, on the basis of gender. Furthermore, the claim of women having a â€Å"disadvantaged status† is preposterous. A quick examination of our laws and societal practices shows that women have an incredibly advantaged status.They are not required to register for the draft, like men are. They have a government council devoted solely to them, whereas men do not. They have female-only scholarships and grants, whereas men do not. They have shelters to escape domestic violence, whereas men do not. They are protected from circumcision by law, whereas men are not. Their names are hidden when they accuse others of several kinds of crimes, whereas men are not. If anyone is disadvantaged, it's men.Men are 80% of suicides, 40% of colleges students, 40% of degree earners, 80% of the homeless, 80% of the layed off, and 92.7 % of the job deaths. Men are more likely to die from every major cause of death, and yet there exists no amount of medical funding and research for them, on par with that of women. And this is to say nothing, of the blatant discriminations, under the law, that men suffer, as mentioned above.Workplace: Positive discrimination is still discrimination, which continues to put emphasis on a person's gender, race or origin of birth. It can also be negative for someone pursuing the same job as a minority applicant. A person might be more qualified and still not get the job if the company is practicing positive discrimination.

Slavery-Response Essay Example | Topics and Well Written Essays - 250 words

Slavery-Response - Essay Example It investigates the European nations that trafficked in slaves. It also emphasizes on brief origin and history of African enslavement. However, the embarkation area map of the West and West Central Africa is unable to provide with a closer insight. Additionally, it seems that the data on most of the African American history has been compiled from few sources i.e. most are from Eltis et al 2001, lacking a well researched recent literature review. The web site incorporates few links in the right side of the page for distant learning. These are well designed according to format of a report with an introduction, discussion pages and links to resources. There is also a well interpreted history of cultural norms and traditions under the heading â€Å"Laws that Bound†. Apart from some minor issues, the website is a great source of information for people interested in exploring their ethnographic and cultural background. The service is doing a good job at maintaining the national pres erves and assisting the general public in visiting such cultural sites keeping the history alive.

Short Response Paper Essay Example | Topics and Well Written Essays - 250 words

Short Response Paper - Essay Example Connie tries a split personality with hope that, she will fit both at hope and elsewhere. She does this by having a selected smile, walking style, hairstyle, and even laughter style one meant for home and the other meant for elsewhere. The short story is from a potential victim’s view where Connie is a victim while Arnold Friend is a killer who seduces Connie and gives her promises of security (Oates 1-7). Indeed, Arnold Friend depicts a strange and mismatched appearance that represents danger (Oates 4). He also seems to conceal threat by depicting a calm voice, gentle coaxing, and convincing voice (Oates 3-7). When Arnold visits her home in her parents’ absence, he is a hard character for Connie to define, he lies somewhere between young and old, human and non-human, calm and strange. She is unable to figure him out and his intentions. The author asserts, â€Å"She couldnt decide if she liked him or if he was just a jerk, and so she dawdled in the doorway and wouldnt come down or go back inside (Oates 3).† Connie’s teenage rejects the role of daughter to her mother, sister to June, and â€Å"nice† girl to the family to cultivate her sexual persona, which flourishes only when she is away from her home and family. The music Connie listens to draws her into the world of fantasies. It paints an ideal love world and love life, which makes her daydream about boys (Oates 5-7). The author does not make it clear however whether Connie is just day dreaming busking in the sun while listening to her music from the radio or Arnold was at her home in reality. This aspect of the story leave the reader with no clarity of Arnold and Connie escapade. Did it happen in reality or was she

Doesn't matter Essay Example | Topics and Well Written Essays - 500 words - 1

Doesn't matter - Essay Example These characters show that they are born with special powers and abilities. Talking about The Secret Ibis, it comes to understanding that Doodle (the lead character who is physically unstable) was a disappointment to his family. Among all, his brother was more disappointed because he could not play with him the way he expected to run. In the second setting, Simon Birch, one can note that Simon was not able to be one of those kids who were normal. It should also be noted that he was a short heighted person who was not accepted by anyone not even the society he lived in (Hurst). It will not be incorrect to state that if Doodle or Simon were treated well by his brother and Joe then it could have been expected that there were betterment in their lives. The support from family or friends would have helped them to be accepted by the society in general. As a contradiction to this statement, it was marked in the short story that Doodle was not at all accepted by his brother as he was tortured by showing coffin that was bought Doodle (Johnson). Ultimately, Doodle’s brother left him alone when the storm occurred. Doodle lost his life in the storm as he was dependent upon his brother for reaching school. In a similar way, Simon was put to test by his friend who was rather supposed to provide a support to him. Just because of the misunderstanding, he wronged Simon (Hurst). The community has seemingly failed to understand the need of dealing with people who are abnormal but can be gifted in many ways. For instance, Doodle was a mighty heart because he was able to survive when everyone thought he will not. In the same way, Simon was considered as a person who was short and misfit in the society. However, in real terms, he was extremely talented and wise. Nevertheless, despite their gifted personalities, they were not provided with the support and acceptance that they deserved to have (Johnson). Through the above analysis, it comes to understanding that the two

The Carter and Reagan Years Essay Example | Topics and Well Written Essays - 1000 words

The Carter and Reagan Years - Essay Example It is more reasonable to discuss Jimmy Carter first since he came before Reagan and it was during his presidency that the world faced the after effects of the oil shock (Walsh, 1997). Of course the present state of the world shows that we are going through another energy crisis and while our solution to the problem might be technological, the solutions thought of by Carter were practical. He wanted to handle the situation by asking the American people to make sacrifices and by asking them to make adjustments to their lifestyles (Shoup, 1979). In 1977, Carter used Congress to create the Department of Energy which was supposed to help America get out of dependence on cheap oil. Not only did Carter support the recommendations of the department, he applied them to his own life. To conserve energy, Carter started wearing sweaters to ward off the cold; he installed solar water headers in the White House and even had a wood burning stove in his living area. He also asked Americans to make sacrifices such as conserving energy, using less heating or cooling equipment, turn off Christmas decorations and place measures on how cool or hot commercial buildings could be (Carter, 1995). Comparatively, the use of force and strong-arm tactics that had become the hallmark of Reagan’s administration might have caused Reagan to attack countries with oil to take over their natural resources for American use. Carter also shifted the American viewpoint of allies and enemies through his focus on human rights. In essence, instead of working with a policy of containing ‘the communist threat’ Carter worked with the idea of human rights violations to suggest that some countries were behaving badly and some were behaving fine. Previously, the viewpoint on human rights was largely ignored but by bringing a focus on human rights, Carter was able to give a human touch to the policies of the government (Shoup, 1979). The practical

Energy Saving Potential of Green Facade in Hong Kong Dissertation

Energy Saving Potential of Green Facade in Hong Kong - Dissertation Example The up to date technology of green wall system in other countries will be reviewed. Existing examples were examined for assessing the potential development in s Hong Kong setting. 1.1 Objective The social, environmental and visual impression that a green wall system can make towards providing a sustainable built environment in cities are accepted worldwide. One of the objectives of this dissertation is to conduct a thorough review of the update design principle and technology on the green wall system in order to increase public understanding and awareness. Basically, the purpose of this dissertation is divided into three parts. 1.1.1 The first purpose is to present the findings of the desktop literature search into the worldwide green wall innovations. This includes, but is not limited to; A brief definition and classification of green wall systems; A list of the benefits for the public and private sectors; A brief list of the benefits for the environment; 1.1.2 The second purpose is to review green walls development in Hong Kong including: Review of present government pilot project and commercial project; Review of constraint for the application in Hong Kong; A brief of the present green building assessment method in Hong Kong. 1.1.3 The last purpose is to demonstrate how to demonstrate the green wall could be applied in a Hong Kong setting. ... Green walls need to be maintained routinely in order for the plants to survive. Counties that use green walls will be examined. The difference between residential and commercial green walls and the purposes will be described. The green walls have different forms in order to fill the area’s specific need. The irrigation, run-off and water retention of the green walls is a consideration that should be looked at in the developmental stage of a new construction project or in the construction of the green wall. All of these topics will be discussed in this section and sub-sections. 2.1 Definitions of the green walls In the current market there are minimal discrimination between domestic and commercial products and systems. Although there are some major differences relevant to this study. The scale of commercial green wall systems for multi-storey buildings requires a different standard to the domestic scale systems. The materials need to have a relatively high quality and longevity to cater for the rigors of extreme conditions such as weather, pollution, and other conditions relevant to the green walls location. For example, the excessive solar radiation in the high-density urban environment would damage UV unstable materials in a short period. Structural loading on the building framework to support the green wall system, wind loading in addition (i.e. the higher the green wall the greater the wind loadings to be induced), requires more precise structural design than with smaller scale domestic applications. Furthermore, the issue of repair and maintenance must be integrated into the building systems, rather than applied as an add-on component (Graeme, Christine, Milos and Michael Andrew 2010), such a

Studying for a Degree Essay Example for Free

Studying for a Degree Essay The above report is based on research and analysis produced by the Office of Economic Cooperation and Development (OECD). The report comments on the advantages to the UK economy from people with a degree in terms of tax income and reduced unemployment. The report arranges an objective argument in from a number of authoratitive reports and sources, on whether higher education is a contributing to factor economic growth and whether it should receive support and investment. According to the report male graduates can expect to earn $208000 more than people without a degree. The benefits to the states are $95000 in tax income and reduced unemployment. The critic of the report Professor Allison Wolf does not think the OECD’s analysis and findings are inaccurate. She believes anything extra a graduate earns is not directly attributed to having a degree and therefore should not be subsidised by the government. Studying for a Degree: UK versus USA. Both the Kingdom and United States boast a pool of universities which are world renowned and among the best in the world. This is a brief summary of studying the benefits and disadvantages of studying at both .Tuition costs are significantly higher in the USA compared to the UK, on average the highest fees charged are $12000 in the UK compared with $50000 in the USA. However the UK offer student loans systems which is only paid back once graduates are earning  £21,000 or more, and many universities in the USA provide high levels of means tested financial support (Guardian, 2011) which student do not have to pay back, in an attempt by US universities to attract international talent. Course length also varies, UK degree courses are mainly taught over three years where as courses in the USA last 4 and even 5 years, increasing the cost of studying in the USA. (Word Count 323).

The Neoclassical Synthesis Hicks Economics Essay

The Neoclassical Synthesis Hicks Economics Essay Those who are strongly wedded to what I shall call the classical theory, will fluctuate, I expect, between a belief that I am quite wrong and a belief that I am saying nothing new. It is for others to determine if either of these or the third alternative is right. (ÃŽÅ ¡eynes, General Theory, p. v) It is usually considered as one of the most important achievements of the Keynesian theory that it explains the consistency of economic equilibrium with the presence of involuntary unemployment. It is, however, not sufficiently recognized that, except in a limiting case to be considered later, this result is due entirely to the assumption of rigid wages and not to the Keynesian liquidity preference. (Modigliani, 1944, p. 65) 11.1 Introduction Many economists, soon after the publication of the General Theory (1936), set out to formulate and, at the same time, to clarify the difficult and often confusing content of the book. Among the first models that were specified was that of John Hicks (1937 and 1983), which was to constitute the backbone of what today came to be known as macroeconomics.  [1]  In his article Hicks sought to express the central propositions of the General Theory in terms of equations and graphs in the effort to illuminate the relation between the theory of effective demand and liquidity preference. Furthermore, Hicks clarified these relations with the aid of two curves the SI and the LL, which later became known as the IS-LM curves. Hickss model became particularly popular in the US through the work of Paul Samuelson (1948) initially and subsequently through Alvin Hansen (1953). These two economists contributed more than anybody else to the popularisation of the Keynesian analysis and way of thought. The IS-LM conceptual apparatus has displayed remarkable longevity and resilience to various critiques and since the late fifties or early sixties continues to be part of the formal education of economists. At the same time, the IS-LM model plays a significant role by virtue of the fact that macroeconomic analyses, regardless of the approach, are cast to a great extent, in terms of the IS-LM representation of the economy. This is not to imply that the IS-LM model is without its problems; on the contrary, many economists expressed scepticism on the validity of the IS-LM as a representation of the General Theory and the way in which the economy works.  [2]   In what follows we present and evaluatse the Hicksian IS-LM model and continue with Keyness reaction to the Hicksian restatement of the General Theory. Next, we introduce Modiglianis version of the Keynesian model and the chapter ends with some concluding remarks. 11.2 Hickss Analysis of IS-LM Hickss analysis focuses on the relation between savings and investment and seeks to establish the simultaneous determination of income and the rate of interest in both the real and monetary economy. According to Keyness analysis in General Theory income constitutes the principal variable in his analysis; nevertheless one would continue to be in the spirit of Keynes by considering the important role of the rate of interest. Thus, Hicks argued that investment (ÃŽâ„ ¢ ) is a function of the rate of interest (i ) and also income (Y). Formally, we write the following function: I=I(i, Y) Similarly, for the saving function (S ), we have: S=S(i, ÃŽÂ ¥) The equilibrium condition is: I=S From the above equality, we derive the following particular functional formalisation, which is called IS and it is defined as the locus of points that determine a relation between the rate of interest and the level of income, when investment and savings are equal to each other. The IS curved is formed in the way we show in Figure 1, where we have the saving and the investment functions for each income level. i i2 i2 i1 I1=S1 I2=S2 I, S Y1 Y2 Y i A A B B I(Y1) I(Y2) S(Y1) S(Y2) IS (a) (b) Figure 1. Equilibrium in the Goods Market and the IS Curve Let us suppose that we are in an initial equilibrium point such as A and let us further suppose that income increases from Y1 to ÃŽÂ ¥2. It follows that the savings and investment schedules-both have positive their first derivatives with respect to income-shift to the right and their intersection at point Î’ determines the new equilibrium point. It is important to stress that the savings function is much more sensitive to variations in income, and therefore it shifts to the right by more than the investment function.  [3]  The two equilibrium points (i1, Y1) and (i2, Y2) are portrayed in Figure 1(b). In a similar fashion, we generate a series of such points, which when connected form the IS curve.  [4]   Hicks furthermore incorporates in his analysis the money market, where the supply of money (M) is exogenously determined, i.e., ÃŽÅ“=ÃŽÅ“0 /P, where ÃŽÅ“0 is the exogenously given nominal money supply and P is the price level. The demand for money depends on income and the rate of interest, i.e., L=L(i, Y). By invoking the balancing condition M=L, we arrive at M0=L(i, Y ) Figure 2 illustrates the equilibrium position in the money market, where the supply of money, for reasons of simplicity and clarity of presentation, is depicted with a vertical line indicating its exogenous character.  [5]  The demand for money, as we know, is inversely related to the rate of interest, a relation whose details have been analysed in the previous chapter. When income increases it follows that much more liquidity is required for the needs of transactions and therefore the interest rate will increase for any given level of money supply. In terms of a graph we have: (a) (b) M=M0/P L1(Y1) L2(Y2) LM Y i i i1 i1 i2 i2 M/P Figure 2. Equilibrium in the Money Market and the LM Curve We observe that with the supply of money given the demand for money for transaction purposes is directly related to income. The crucial question here is that while we refer to the money market the discussion is in terms of the bond market. In particular, we know that the excess demand for any good leads to an increase in its price until excess demand becomes zero and thus we get the equilibrium point. Since in the case of money market the equilibrium interest rate is derived in the market for bonds (see ch. 9), then how can the same interest rate equilibrate the money market? In Keyness analysis it seems that there is an implicit portfolio stock exchange constraint, which can be written as follows: (L M ) + (Bd Bs) = 0 Where Î’ symbolises the bond market, while the superscripts d and s symbolise the demand for and the supply of bonds, respectively. Consequently, we have the total demand for wealth (L + B d) equal to its supply (M + Bs). If we, further, suppose Walrass Law, then the above equality necessarily holds and if the rate of interest brings equilibrium in the market for bonds then on the basis of Walrass Law we conclude that equilibrium will be also established in the money market, that is L = M. As a consequence, we can follow Keynes, who argued that interest rates are determined in the money market. Because of the Walras Law, equilibrium in the bond market and equilibrium in the money market is one and the same. If, for example, i > i*, then Bd > Bs and because of the stock constraint we get L Returning to the above equilibrium relations, we end up with a system of four equations and four unknowns: Y, i, I, S. The equations IS and LM represent the reduced form of the above system of simultaneous equations, whose solution gives the equilibrium income together with the equilibrium interest rate. In the same figure, we present the interest rate that corresponds to the liquidity trap (iLT), where the demand for money is infinitely elastic. Consequently, the LM curve is essentially the solid line. i IS LM Y iLT i* Y* A B S>I M S>I M S M>L I II IV III S M>L Figure 3. Equilibrium in the Market for Goods and Money The intersection of the two curves at point B determines the equilibrium pair of interest rate and income. Any point above the IS curve indicates excess supply of goods and every point below the IS curve indicates excess demand for goods. As for the LM curve, every point to the right indicates excess demand for money and every point left to the LM curve indicates excess supply of money. The intersection of the two curves defines four quadrants, which are portrayed in Figure 3 above and in each quadrant we indicate the excess demand or supply in the goods and money markets. The mechanism that establishes equilibrium in the economy works as follows: let us suppose that for some reason the economy is out of equilibrium at a point on the quadrant II. In such a case, savings exceed investment and thus income has a tendency to decrease, while the demand for money is greater than the supply and the interest rate tends to increase. The changes are expected to lead the economy towards equilib rium at point B. In an analogous way, we can describe the mechanism that restores equilibrium at points in the other quadrants and this is left as an exercise. 11.3 Hicks and Keynes Hickss article was published in 1937, eight months after the publication of the General Theory. Keynes already knew the content of the article since he was among the first that the article was given to for comments before its publication to the Economic Journal. Keynes never disapproved directly and explicitly the presentation in terms of the IS-LM apparatus. Don Patinkin (1922-1995) in a series of articles argues the fact that Keynes never said anything negative for the formalisation of his theory by Hicks and that this ipso facto implies an adoption of this presentation on his part (Patinkin, 1990). If Keynes disagreed then he would have every reason to emphatically express his disagreement. After all Hickss presentation in a sense was provocative, since Keyness General Theory in it was viewed as a special case of the neoclassical true general theory. Post Keynesian economists claim that the fact that Keynes did not exercise a negative critique can be attributed to his idiosyncrasy that would not pay attention to anyones writings which might concern his General Theory. On the other hand, Keynes did not have any reason, to express, at least in the beginning, his strong disagreement to Hickss presentation. It is possible that he did not think that Hickss article would meet the success that it finally met (Put footnote 6 here).  [6]  It is certain that he disagreed with Hickss view as this can be judged by a careful reading of his correspondence with Hicks and from the article that he wrote in the Quarterly Journal of Economics (1937), where he summarised his views. Specifically, he placed special emphasis, once again, on the fact that economies are characterised by uncertainty. Hickss approach, is characteristically different from that of Keyness. We know from Pasinetti (1973) that Keynes followed a sequential analysis starting from the marginal efficiency of capital, and then to the interest rate, to investment and through the investment multiplier to the equilibrium level of income. By contrast, in Hicks, all of the above take place simultaneously, as we show in Figure 3. Furthermore, Hicks in his formulation of the demand for money refers to a single interest rate. In the General Theory, however, we know that Keynes refers to two interest rates, the current and the expected in the long run. Consequently, Keyness analysis is in sharp contrast to Hickss and on top of all we have the issue of uncertainty that permeates the General Theory and is completely absent in Hickss presentation. Another important difference is that Hicks does not refer to the problem of unemployment equilibrium which is so central in Keynes-and really differentiates him from the classics-. Instead, Hicks locates the difference between Keynes and the classics to the interest rate and the issue of whether it increases with investment or not (Barens and Caspari, 1999, p. 219). According to Hicks, in periods of stagnation the interest rate is particularly low and under these circumstances speculators are not willing to hold non-liquid assets; consequently, their demand for money is so high that it absorbs whatever quantity of money is available. Thus, every increase in the supply of money is counterbalanced by a corresponding increase in the demand for money and the rate of interest remains constant. Monetary policy therefore is completely ineffective and it cannot restore the economy to full employment equilibrium. Hicks notes, there are conditions in which the interest-mechanism will not work. The special form in which this appears in the General Theory is the doctrine of a floor to the rate of interest [the liquidity trap] as Sir Dennis Robertson has called it. (Hicks, 1957, p.287) If we suppose that the economy is in the liquidity trap  [7]  , then a monetary policy, regardless of how active it might be, cannot shift the economy beyond the initial equilibrium point. In terms of Figure 4, if the economy is in equilibrium at point A, an expansionary monetary policy will shift the LM curve, for example to the position LM΄, with no consequence what so ever for the initial equilibrium position. LM LM A B C IS IS IS Y i iLT Figure 4. Equilibrium in the Markets for Goods and Money Consequently, Hicks in his model claims that the General Theory is not so general as Mr. Keynes thought, but rather a special case of the neoclassical theory, where the liquidity trap has a prominent position. The truth, however, is that the idea of the liquidity trap is very hard to pin point in the writings of Keynes; of course, there are some sporadic hints in the General Theory, as for example is the following: There is the possibility, for reasons discussed above, that, after the interest rate has fallen to a certain level, liquidity-preference may become virtually absolute in the sense that almost everyone prefers cash to holding a debt which yields so low a rate of interest. In this event the monetary authority would have lost effective control over the rate of interest. But whilst this limiting case might become practically important in future, I know of no example of it hitherto. (Keynes, 1936, p. 207)  [8]   However, Keynes does not discuss this case in any detail so as to claim that this is the hallmark of his theory. What is certain, however, is that the liquidity trap is more Hickss and subsequently Hansens (1953, pp. 122-3) idea rather than Keyness.  [9]  Consequently, the view that the liquidity trap is the essence of Keyness theory is due to the influence that the Hicksian model exerted on macroeconomics and much less to Keynes and his writings. Suppose, now, that for some reason investment increases, and then the increase in the rate of interest follows suit, a result which is consistent with neoclassical theory and with Hickss argument. It is true, that in Keynes the arrow of causality is different from that in neoclassical economics. However, it continues to be true that, under normal conditions, the interest rate increases when investment increases except for the case of the liquidity trap, where only income changes in every change in investment. The trouble, however, with Hickss view is that for Keynes the rate of interest is determined by monetary forces, while in the IS-LM framework the interest rate is determined by real forces. This is an issue that Keynes pointed out in his letter to Hicks. For example we read: From my point of view it is important to insist that my remark is to the effect that an increase in the inducement to invest need not raise the rate of interest. I should agree that, unless the monetary policy is appropriate, it is quite likely to. In this respect I consider that the difference between myself and the classicals lies in the fact that they regard the rate of interest as a no-monetary phenomenon, so that an increase in the inducement to invest would raise the rate of interest irrespective of monetary policy. (Keynes, 1973, p.80) A final point relates to the inclusion of current income in the investment function. Keynes objected to this idea for the reason that income was already included in the definition of the marginal efficiency of capital through the prospective yields. The following quotation from his letter to Hicks, shows that Keynes was not only acquainted with the IS-LM apparatus but also as a modern econometrician argued against the inclusion in the same specification of both income and interest rate. Specifically, Keynes notes: At one time I tried the equations, as you have done, with I in all of them. The objection to this is that it overemphasizes current income. In the case of the inducement to invest, expected income for the period of investment is the relevant variable. This I have attempted to take into account of in the definition of the marginal efficiency of capital. As soon as the prospective yields have been determined, account has been taken of income, actual and expected. But, whilst it may be true that entrepreneurs are over-influenced by present income, far too much stress is laid on the psychological influence, if present income is brought into such prominence. It is of course, all matter of degree. (Keynes, 1973, pp. 80-81). Barens and Caspar (1999) in their discussion of Hicks and Keynes note that while Hicks accepted all of Keyness points he nevertheless insisted in his own formulation for merely pedagogical reasons. 10.4 Modiglianis Synthesis Hickss model does not refer explicitly to the labour market; it is simply confined to demonstrating that there is equilibrium in only two markets that is the market for goods and the market for money. In his model, Hicks explicitly argues that the money wage as well as the general price level are exogenously given. Franco Modigliani (1944) extended Hickss model by including the labour market and the production function. Modigliani argued that the assumption of equilibrium with unemployment cannot be supported on the basis of the liquidity preference theory except for the particular case of the liquidity trap. In general, however, the Keynesian hypothesis can be supported on the assumption of the rigidity in the money wage. For Modigliani, the equilibrium in terms of the IS-LM model implies a pair of interest rate and money income that clears simultaneously the money and good markets. Consequently, we must take into account that the money income (ÃŽÂ ¥ ) is equal to the price level (P ) times the level of the real income (X ). As a result, we may write: Y=PX The level of real income (or output) is a function of the level of employment of labour (ÃŽÂ ). Consequently, we have: X=F(ÃŽÂ ) The level of employment in turn is determined at the point, where the marginal product of labour is equal to wage. Consequently, we have: w=PF-1 (ÃŽÂ ) Up until now we have a system of 7 equations (the three equations above together with the system of 4 simultaneous equations of the IS-LM) with 8 unknowns, that is I, S, i, Y, X, W, P. More specifically, we have the 4 equations of Hickss model: I=I(i, Y) S=S(i, Y) I=S M=L(i, Y) And the three new equations suggested by Modigliani: Y=PX X=F(ÃŽÂ ) w=P F -1(ÃŽÂ ) The system is overdetermined by one equation, the missing equation is the supply of labour. Modigliani in his article invokes Keyness assumption of the given money wage. More specifically, the money wage is given if, and only if, the economy is at a level of output less than full employment. We know that in the neoclassical analysis the supply of labour is a function of the real wage N=F(w/P) so the money wage can be written as w=F-1(N)P Formally, Modigliani stated his condition in the labour market in the following way: w=awo +bPF -1(ÃŽÂ ) Where, a=1, b=0 if ÃŽÂ  a=0, b=1 if ÃŽÂ  = ÃŽÂ f The last equation indicates that if the current employment in the economy is smaller than full employment (ÃŽÂ f ), then Keyness view for the rigidity of money wage holds indeed, that is we have (a=1 and b=0). Money wage is viewed as a datum a result of history or of economic policy or of both (Modigliani, 1944, p. 47). If, however, the economy is at full employment, then the money wage becomes flexible (a=0 and b=1) and the last equation becomes an ordinary supply of labour function. Consequently, the money wage will be determined from the supply of labour at the point of full employment. In Modiglianis presentation we find that the central assumption is the rigidity of the money wage, an assumption which, as with the liquidity trap does not really find any justification in the General Theory, where the nominal wage is being used simply to determine the price level. By contrast, in Modiglianis presentation the nominal wage has another important role to play. This is revealed if we express Modiglianis system of simultaneous equations in terms of wage units or alternatively in terms of labour commanded.  [10]  Thus, we have: investment is given in terms of labour commanded savings is given in terms of labour commanded equilibrium in the goods market equilibrium in the money market income given in terms of labour commanded the production function, which is by definition in real terms the real wage is equal to the marginal product of labour the supply of labour Hence, we have a system of 8 equations and 8 unknowns (I/w, S/w, i, Y/w, ÃŽ, N, w, P ). If, for a moment, we disregard the fourth equation and focus our attention on the remaining 7 equations, we observe that these can determine all the variables but one, that is the money wage. The result is that the supply of money determines the money wage; since this is the only variable that remains to close the system. Such a determination is due to the quantity theory of money. Consequently, Modiglianis system of equations is dichotomised into the real economy-which includes all the equations except the fourth one-and the money economy, that is the equation of equilibrium in the money market. The real economy gives solutions in real terms (7 equations with 7 unknowns, that is I/w, S/w, i, Y/w, X, N, w/P) while the money supply: determines the nominal wage, since the other variables are determined in the real economy. Consequently, the money supply determines the nominal wage and through the real wage it also determines the general price level. Thus, monetary policy may affect real magnitudes in the Keynesian model, contrary to Hickss reasoning according to which the money supply does affect the real economy. Modiglianis analysis leads to the conclusion that flexibility in prices and money wages establishes full employment in the economy. The mechanism that restores full employment works as follows: the existence of unemployment drives down nominal wages and therefore incomes fall. The demand for money for transaction purposes, being directly related to income, falls as well, and with a given supply of money the rate of interest falls as well. From thereon investment increases and the economy moves toward the full employment level of output. Modigliani managed to formalise Keyness argument about the results of the flexibility in money wages. It is important to stress that the pivotal variable in this formalisation of the theory of employment is the idea of inflexibility of money wage. A corollary of this theory is that the role of money is not neutral. For example, the increase in the supply of money affects the price level and reduces the interest rate and thus output and employment are increased. If the nominal wage were perfectly flexible, then moneys role would be neutral since it does not influence the interest rate i, or the liquidity preference L and output remains the same. Consequently, under conditions of a fully flexible nominal wage the increase in the supply of money leads only to an increase in the general price level. Consequently, ÃŽÅ“odigliani concludes that Keyness theory works only in case of inflexibility of the nominal wage. If, however, the money wage is flexible then we derive the usual neoclassical results, where the real economy determines the level of output and employment and the money economy determines the nominal variables of the economy. This does not imply a rejection of Keyness theory; on the contrary, economists accept the idea of inflexibility of the money wage as a stylised fact of modern economies and thus, Keynesian policy is viewed as both theoretically valid and necessary. The problem, however, relates to the theoretical consistency of the Keynesian system that once again became a special case of the general neoclassical model according to which the economy exhibits a sufficient flexibility in prices of commodities and the factors of production. 10.5 Summary and Conclusions In an overall evaluation of the two models we see that they both represent aspects or partial arguments of the General Theory. Nevertheless their major problem in terms of the General Theory is the simultaneity issue and also the treatment of uncertainty. In Hickss article we find an explanation of unemployment and recession as a result of the liquidity trap, which differentiates Keyness theory from the (neo)classical one. In Modigliani, by contrast, the recession is the result of the inflexibility of money wage and not of the lack of effective demand. Commenting on this kind of revision of the General Theory Paul Samuelson in the third edition of his popular text Economics, notes: In recent years 90 per cent of American economists have stopped being Keynesian economists or anti-Keynesian economists. Instead they have worked towards a synthesis of whatever is valuable in older economics and in modern theories of income determination. The result might be called neoclassical economics and is accepted in its broad outlines by all but about 5 per cent of extreme left-wing and right-wing writers. (Samuelson, 1955, p. 212). These efforts to cast Keynesian theory in terms of IS-LM, Samuelson called neoclassical synthesis, since it puts together the neoclassical analysis of investment and savings and the market for labour with the analysis of Keynes about the interaction between the money market and the real level of economic activity. The neoclassical synthesis became the dominant presentation of the General Theory. According to this view, when there is unemployment, then we have Modiglianis supply of labour function with a=1 and b=0, and as a result of the exercise of appropriate monetary and fiscal policy the economy approaches the level of full employment. When the economy approaches the level of output that corresponds to full employment, then once again the neoclassical theory becomes relevant. If our central controls succeed in establishing an aggregate volume of output corresponding to full employment as nearly as is practicable, the classical theory comes into its own again from this point onwards. (Keynes, 1936, p. 378) In general, economists of the neoclassical synthesis argue that although the economy returns to full employment through the price mechanism, nevertheless this is a long run process. Consequently, for immediate results active fiscal and monetary policies are necessary. Modiglianis ideas, which became the foundation of the neoclassical synthesis, and which essentially constitute a Marshallian partial equilibrium approach, became the object of criticism from Walrasian authors. They posited the following question: how is it possible to have equilibrium in all the markets but one? The protagonists of this critique of the neoclassical synthesis are Alex Lejonhufvund and Robert Clower, whose contributions we discuss in the next chapter. Other criticisms included the phenomena of unemployment and later of the stagflation in the late sixties or seventies. Some economists, the monetarists for example, tried to fix the weaknesses of the model and others such as the New Classical economists claimed that the premises on which the IS-LM framework is based are dubious, while New Keynesian economists in the 1980s revived the old Keynesian models by injecting realism and by basing them on microeconomic foundations which simply were not used in the initial models. Whatever happens to the current macroeconomic debates and the various criticisms launched against the IS-LM models, one thing is certain, that these will continue to be part of the formal education of future generations of economists. Questions for Discussion and Thought Write down the Hicksian system of equations. Draw a graph with the IS-LM system of equations and assuming a disequilibrium situation describe the dynamics of attaining equilibrium. To what extend does Hickss model represent Keyness General Theory? What was Keyness reaction to Hickss IS-LM representation of the General Theory? Discuss Modiglianis Neoclassical Synthesis. To what extent does his model differ from Keyness? What are the major similarities and differences between Hickss and Modiglianis models? Critically evaluate the following statement: I will assume all markets with the sole exception of the labour market are in equilibrium. Notes on Further Reading Hickss (1936) article is easy to follow, but the exposition of ideas (not visions) is really dry. The reader discerns an effort on the part of Hicks to express Keyness ideas in terms of equations and graphs without, however, the proper textual documentation. As we have mentioned, at the time that Hicks presented his article in the econometric society meeting at Oxford, two other related papers were presented in the same meeting by Meade and Harrod. Darity and Young (1995) present the details of these three articles a