Health Care Reform Essay Research Paper 915Due free essay sample

Health Care Reform Essay, Research Paper 9:15 Due to the approaching presidential election, the two major political parties, and their campaigners, have been concentrating on the primary jobs that the state will confront. Chief among those jobs is the hereafter of Medicare, the national health-insurance program. Medicare was enacted in 1965, under the disposal of Lyndon B. Johnson, in order to supply wellness insurance for retired citizens and the handicapped ( Ryan ) . The Medicare plan covers most people aged 65 or older, every bit good as disabled people who enroll in the plan, and consists of two wellness programs: a infirmary insurance program ( portion A ) and a medical insurance program ( portion B ) ( Marmor 22 ) . Before Medicare, many Americans didn # 8217 ; Ts have wellness insurance coverage, but since its origin the plan has enrolled about 40 million donees, who jointly fund the insurance plan along with the national authorities ( Carnegie ) . Harmonizing to Dr. Don McCanne, a member of the Board of Directors of Physicians for a National Health Program, # 8220 ; Before the transition of Medicare in 1965, merely 52 % of individuals age 65 and over had hospital insurance and less than 15 % had equal wellness insurance # 8221 ; ( McCanne ) . We will write a custom essay sample on Health Care Reform Essay Research Paper 915Due or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The Medicare plan has improved entree to healthcare and better the quality of life for 1000000s of aged members, and has provided insurance for 1000000s of individuals with disablements. By cut downing the load of big medical measures, Medicare besides has improved the economic position of the aged. As Dorothy Price points out # 8220 ; Over its 33 twelvemonth history, Medicare has channeled one million millions of dollars into the wellness attention system, assisting to further tremendous betterments in wellness attention engineering and medical instruction # 8221 ; ( Carnegie ) . Unfortunately though, the plan is now confronting two major jobs: donees are still holding problem in happening low-cost attention, and the Medicare plan itself is non decently funded. As a consequence of these jobs, the plan could discontinue to be unless a solution is found. One of the jobs of Medicare itself is that it doesn # 8217 ; t cover the costs of prescription drugs for its members ; this has led to one of the major grounds that the plan is in danger. A great trade of personal health care relies on the usage of drugs, and since the plan doesn # 8217 ; t cover these costs, the single must bear them. Harmonizing to the AARP, in 1999 out-of-pocket costs for prescription drugs were estimated to be $ 450 per individual each twelvemonth ( AARP ) . Obviously, members have joined the plan to defray their medical costs, but these figures indicate that they still have big costs to pay. The other job faced by the Medicare plan is that it is besides enduring from a deficiency of financess. Harmonizing to Governor George W. Bush, the fiscal wellness of Medicare is in serious hazard and might confront shortage every bit shortly as 2010 ( Bush ) . As a consequence of these major jobs, one might inquire why the program isn # 8217 ; t scrapped for another plan ; good harmonizing to polls done by the Public Agenda, an Internet populace policy site, American citizens are strongly in favour of Medicare, and would instead see the jobs ironed out ( Public Agenda ) . Therefore it is necessary to come up with a solution, so that the Medicare plan remains integral. The most favourable solution for these jobs is for the national authorities to relieve the out-of-pocket costs ( such as the costs for drugs ) of the donees by funding the Medicare plan through the usage of the national budget excess. As of now, funding for Medicare has been provided through paysheet revenue enhancements and societal security revenue enhancements paid by enrolled members and their employers, and besides through general grosss provided by the authorities. In fact, statistics provided by the United States Senate and Senator William Frist ( R-Tenn. ) indicate that Medicare members fund 25 % ( about $ 45/month ) , and the authorities covers the other 75 % of Medicare costs ( Frist ) . However, utilizing gross from the budget excess would take the force per unit area off the donees and the authorities every bit good, by steadily take downing paysheet and societal security revenue enhancements. Another of import ground that makes this proposal worthy is the fact that the national budget excess will go on to increase beyond 2010. In fact, harmonizing to George W. Bush, the budget excess is expected to turn good past $ 5 trillion over the following 10 old ages ( Bush ) . Sing the fact that Medicare expenditures undertaking to be around $ 452.2 billion over that same period ( Bush ) , there will be plentifulness of money still available for military, instruction, and other authorities outgos. Obviously, if the budget excess were to diminish or stay dead over this clip, it would be really dearly-won to keep Medicare under this proposal, but due to the budget # 8217 ; s optimistic ( to state the least ) mentality, the proposal is really reasonable and effectual. Possibly the lone other alternate to Medicare itself would be for the authorities to follow a centralised signifier of health care, similar to the one employed in Canada. In that plan, every citizen would be entitled to the same benefits irrespective of age, disablement, or unemployment. Although this plan seems like it would be for the best, it would take many old ages to implement the system. Legislation for a major issue such as health care usually spans several old ages ( Frist ) , and is one ground that the authorities and neither party has of all time brought the thought to the head. Furthermore, the funding for a public health care program would switch more to the people since the authorities would be recognizing all of the costs. Although still in usage in Canada, the populace health care system caused rather a dirt in the late 1980 # 8217 ; s in the state of Alberta. In order to do up for the tremendous costs accrued by the plan, limitations were placed on the sum of drugs that were to be prescribed by doctors ( Marmor 97 ) . This raised many concerns over the plan and its deficiency of medical moralss. In fact, many organisations in Canada have formed alliances to forestall incidents like this from happening. One such alliance, the Friends of Medicare, was instrumental in assisting go through the Canada Health Act in 1994 ( Marmor ) . The Act is designed to guarantee that Canadian s receive comprehensive medical attention at no cost. As mentioned earlier, most Americans would instead see the Medicare plan revamped alternatively of replaced. One of the steps that the authorities took was the constitution of the Medicare HMO ( wellness care organisation ) . This plan was designed to let HMO subscribers the ability to utilize any infirmary or doctor. Previously, patients who contracted with HMOs were merely allowed to utilize infirmaries and doctors under contract with that HMO supplier ( Marmor 192 ) . As a consequence, many people feared that HMO # 8217 ; s were more disquieted about money, so the wellness of its endorser. With the coming of Medicare HMO, many more people subscribed to different suppliers. Harmonizing to the Medicare HMO Internet site, the entire rank of HMO # 8217 ; s has risen to over 7 million people as a consequence of its partnership with the Medicare plan ( MCOL ) . The job with the HMO is that it is an even more private signifier of health care insurance so Medicare, and hence costs more to the person. Whereas much of the disbursement for Medicare is provided by paysheet revenue enhancements, many employers do non even contract with wellness care organisations due to be ( Ryan ) . Therefore, endorsers must pay more in premiums each month, so the estimated $ 45 monthly Medicare charge. By utilizing gross from the budget excess to cover Medicare costs, the national authorities would be profiting itself, every bit good as Medicare endorsers. As antecedently mentioned, paysheet revenue enhancements and societal security revenue enhancements, current beginnings for Medicare support, would be well lower and more aged and handicapped individuals would be able to inscribe in the plan. The money from the budget excess would be used chiefly for out-of-pocket outgos, such as prescription drug costs, every bit Wellss as to finance infirmaries and medical engineering. The authorities would profit because of a stable national health-insurance program, and due to a quickly increasing budget excess which figures to increase good over $ 5 trillion over the following 10 old ages. This allows the authorities to take attention of other major jobs countries such as instruction, offense, and the armed forces. Although there are other options such as exchanging to a more centralised sig nifier of medical attention or trusting on a more private signifier of medical attention, each has several of import jobs. The clip spent on statute law covering with a public health care system, combined with moral facets of the system make it less appealing. Likewise, added costs and insurance premiums for persons, and the heavier fiscal load on the authorities make the private system less desirable every bit good. Based on these facts, the best solution would be to reform the Medicare plan through budget excess funding. Annotated fc7 # 8220 ; AARP On Medicare Reform. # 8221 ; AARP.org 3 March 2000. 21 October 2000 *http: //www.aarp.org/election2000/medicare.html* . In this article, the AARP ( Association for the Advancement of Retired Persons ) paperss the history of Medicare, and its success supplying healthcare insurance to the aged. However, the article besides points out some of the jobs that the plan causes ; for case, many of the plan # 8217 ; s donees must pay big out-of-pocket outgos in add-on to the monthly premiums they are charged. Bush, George W. # 8220 ; A Defining American Promise. # 8221 ; georgewbush.com 15 May 2000. 20 October 2000 *http: //www.georgewbush.com/News.asp? FormMode=SP A ; ID=3. Presidential campaigner George W. Bush outlines his docket on the issues of economic security and medical attention for the aged. If elected, Governor Bush will non waver to utilize gross from the national budget excess to back up societal security and Medicare reform. Carnegie, Wilson. # 8220 ; Altman Discusses Medicare Problems. # 8221 ; BrownDailyHerald.com 6 December 1999. 22 October 2000 *http: //www.browndailyherald.com/stories. Cfm? S=O A ; ID=868* . This newspaper article featured an article with Stuart Altman, a professor of national healthy policy at Brandeis University. In it, Altman discusses the state # 8217 ; s need for proper Medicare support. Presently, the Program is jointly funded by revenue enhancement dollars and authorities gross, but is in hazard of running a shortage in the hereafter. Frist, William R. # 8220 ; Who is Eligible. # 8221 ; Senate.gov 26 January 1998. 21 October 2000 *http: //www.senate.gov/~frist/show_med/sld018.htm* . Senator William Frist of Tennessee presents a slide show explicating how the Medicare plan Plants. Frist describes the two parts of the Medicare program, and besides explains who is eligible to inscribe in Medicare. Furthermore, Frist discusses how Medicare is funded, and the functions of assorted committees in wellness attention reform. Marmor, Theodore. Understanding Health Care Reform. New Haven: Yale Univ. Pr, 1994. Theodore Marmor discusses the argument over President Clinton # 8217 ; s wellness attention reform measure, and its options. He explains what we can and can # 8217 ; t expect from the measure, and besides analyzes some proposed solutions sing health care costs. Marmor is a professor at Yale University, and has been called on by Congress several times for policy proposals and argument. He is considered an expert on wellness attention reform. McCanne, Dr. Don. # 8220 ; Rebuilding Medicare for the 21st Century. # 8221 ; Medicare4All.org 11 February 2000. 21 October 2000 *http: //www.medicare4all.org/report/med 4.html* . Dr. Don McCanne, a member of the Board of Directors of the Doctors for a National Health Program, credits Medicare for giving 1000000s of aged and handicapped individuals medical insurance coverage. However, he besides points out that the plan is earnestly under funded, and faces shortage jobs in the hereafter. In McCanne # 8217 ; s sentiment, authorities support is the best manner to relieve the lifting costs of Medicare.

CE vs. AD

CE vs. AD CE vs. AD CE vs. AD By Maeve Maddox A reader takes issue with my use of the designation CE instead of AD in this sentence: â€Å"A mix of these tribes migrated to England in the fifth and sixth centuries C.E.† Here is the reader’s reaction: Give me a break with the New Age (CE) crap.   You cant make-up words and slogans to change history or our calendar.   Its AD period. Clearly, the reader prefers the traditional Western designation of AD and BC to the equivalent CE and BCE to denote the eras demarcated by the birth of Christ. Contrary to the reader’s belief, the use of AD in lieu of CE to denote the Christian era is nothing so new as â€Å"New Age.† The term â€Å"New Age† refers to a movement of the 1970s that was characterized by alternative approaches to traditional Western culture. Environmentalism and an interest in spirituality and mysticism as opposed to organized religion are especially associated with the New Age phenomenon. The designation CE as an abbreviation for â€Å"Christian era† predates the New Age movement by about 300 years. According to The World Heritage Encyclopedia, â€Å"The expression Common Era can be found as early as 1708 in English.† Still earlier than that, another chronological term used by Christians was vulgaris aerae, â€Å"the common era.† (The adjective vulgar derives from the Latin noun vulgus, â€Å"the common people.†) This designation occurs in English as both â€Å"vulgar aera† and â€Å"vulgar era† and is abbreviated V.Ae. or V.E. However, AD/BC have been with us for a very long time, and the reader is not alone in feeling a strong repugnance toward the growing practice of replacing it with CE/BCE. At least one Christian governing body urges adherents to resist the CE/BCE notation, seeing it as a result of â€Å"secularization, anti-supernaturalism, religious pluralism, and political correctness.† On the other hand, many Christians support the change, in deference to non-Christian cultures that also employ the chronology. The abbreviations CE and BCE may be interpreted as any of the following phrases: Christian era, before Christian era common era, before common era current era, before current era I started using CE/BCE in my posts for Daily Writing Tips because we have an international audience and because I’ve become aware that more and more publishers are adopting these designations. For example, five books pulled from my shelves at random reflect the changing convention: AD/BC: Christianizing the Roman Empire, Yale University Press, 1984. AD/BC: A History of Private Life, Volume I, Harvard University Press, 1987. CE/BCE: The Encyclopedia of World History, Houghton-Mifflin, 2001. CE/BCE: Life After Death, Doubleday, 2004. CE/BCE: The Real Messiah, Watkins Publishing (London), 2009. For my part, if the World were to organize a vote on the matter, I’d vote to keep BC/AD- if only for the fact that it’s easier to tell which is which. When I read a book that uses the BCE/CE abbreviations, I have to slow down when I come to a date because the letters CE are in both designations. Any culture designing a chronology will choose a culturally significant event to mark â€Å"Year One.† Before the AD designation became common, Christians made use of the Hebrew Anno Mundi chronology, which began with the estimated date of Creation. Some Christian writers reckoned time from the birth of Abraham. â€Å"Year One† for the Islamic calendar is the year Mohammad led his followers from Mecca to Medina- 622 CE on the Gregorian calendar. Whether we call the first year of our current era AD 1 or 1 CE, the fact remains that the reckoning is based on ancient Christian belief about the year in which Jesus was born. Modern scholars calculate that the historical Jesus was actually born four to seven years earlier than 1 CE. I think it’s very likely that in another fifty years or so, a new world reckoning will supersede the current one for international use. A new chronology will separate the â€Å"before and after† eras with a new â€Å"Year One† based on some event lacking religious connotations. Style considerations The Chicago Manual of Style recommends writing CE and BCE without periods. Writers making the switch from BC/AD to BCE/CE need to be aware of a difference in where the abbreviations should be placed in relation to the date. With BC/AD, the tradition is to put BC after the date and AD before the date: Julius Caesar was assassinated in 44 BC. Joan of Arc was executed in AD 1431. With the BCE/CE designations, both follow the date: Julius Caesar was assassinated in 44 BCE. Joan of Arc was executed in 1431 CE. Writers not governed by a publication’s style guide are free to use BC/AD. However, anyone who reads much history may as well get used to seeing BCE/CE. 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 Misused Words category, check our popular posts, or choose a related post below:How to Punctuate References to Dates and Times20 Words Meaning "Being or Existing in the Past"Double Possessive

The use of force by william carlos williams Essay

The use of force by william carlos williams - Essay Example Should one derive vicarious pleasure by such an exercise? Hurting consciousness is hurting the core personality of an individual; it is the ultimate non-physical hurt. To cause intentional pain to others is considered as the greatest sin. The story by Williams relates to the 19th century surroundings. The narrator is a doctor, and the story centers on his actions and the reactions to his actions by the girl-patient. Now, normally a doctor is a busy person, profession-wise and he has to handle a number of patients in a day, and the family members. The doctor, in this particular case, is on house calls. As he initiates the process of the physical examination of the patients he thinks, â€Å"I could see that they were all very nervous, eyeing me up and down distrustfully. As often, in such cases, they weren't telling me more than they had to, it was up to me to tell them; that's why they were spending three dollars on me.†The doctor seems to be sympathetic and aware of his respon sibilities for the patient and would like to do justice to the professional charges that he would receive. Sometimes, handling the accompanying persons is more difficult than to handle the patient. A doctor is not a member of a peace delegation; he is a professional and has a responsibility to carry out—to make the patient recoup the original health. ... the ego issue may also crop forth in which case the doctor will have his way. His forcibly gathering the throat culture from the resisting child he is examining is the case in point. (The doctor must be thinking while executing his treatment options—I am the doctor, and I know what I need to do!) Basically, the doctor is a compassionate man, but he cannot be expected to retain his composure throughout the day in the discharge of his professional duties. He is undeniably blunt and prejudiced to an extent. He has to be, and that probably depends upon the type of patients/people that he has to interact with. His actions are generally the responsive actions. He has no deliberate intentions to hurt his patients. The parents are generally weak before their offspring, and with a daughter going through the phase of ill-health, the level of weakness increases further. This is the common disposition of parents. In this story a clear picture of the psychological trends of the daughter, p arents and the doctor emerges. Each one of them is right according to their understanding, in the given circumstances. The weak parents turn further weak, in front of their ailing daughter. The daughter becomes more stubborn taking advantage of their weakness. The doctor has to intervene, he has to carry on with his professional options of his choice and finally, he assumes the posture of stubbornness. At this juncture, he doesn’t hesitate to exert his professional power. He cannot wait for the weak parents and the stubborn daughter to come to a settlement, because time is also a constraint for the doctor, and he is suspecting it to be a case of diphtheria. He must diagnose and act quickly. When the polite words, initial coaxing fails, he comes to a conclusion and he says firmly, â€Å"I'm here

General Awareness about the New Packaging for Beverage Company Assignment - 1

General Awareness about the New Packaging for Beverage Company - Assignment Example Consequently, the project management plan should be used as a reference for any decision made on the project and whenever clarifications are required in areas that are unclear. To this regards, the PMP should be used as a reference throughout the project implementation so as to ensure that the management of the project is carried out consistently and in line with the laid down policy and procedures. This, therefore, makes the PMP part and parcel of the project making it evolve with the progress of the project hence periodic updates with relevant information. The marketing project is aimed at replacing the existing packing which is plastic and metal packaging and is biohazard hence not safe to use with their disposal in the waters being capable of contaminating the entire system and posing a threat to both aquatic and human life. The packaging is not only environmentally friendly but also utilizes low carbon and free from ozone oxidants. To this regard, the plan involves creating general awareness about the new packaging for a beverage company by employing various strategic policies at different levels of publicity which can be defined as marketing. The assumptions made in the charter is that the whole organization is a unit that works first for internal solidarity and then utilize the unit by the standards of a division of labour to spread out and work for community-based agenda and that the entire human population is considered as a family. This leads to the assumption that the target market is a free market with free flow of information. As regards the constraints, the global recession will be considered especially with respect to the monetary issues. The purpose of the project is to create general awareness about the new packaging for Beverage Company by employing various strategic policies at different levels by making careful observations about different market circles both globally and internally, different groundbreaking analysis and strategic formulation aimed at powering the growth process more substantially.  Ã‚  

Arab Isreal Essay Example | Topics and Well Written Essays - 1000 words

Arab Isreal - Essay Example The roots of the conflict can be traced back to the late 19th century in which there was a rise in national movements, including Arab and Zionism nationalism. Zionism, a Jewish national movement, was seeking sanctuary when they sought to establish a Jewish State in Palestine (Seger, Tom, pp26). The mandate for Palestine was a historical League of Nations document. It contained the Jewish legal right of settling anywhere in western Palestine between the Mediterranean Sea and Jordan river. Palestine became a trouble spot of competing territorial claims and also political interest by the early years of the twentieth century. While World War one was underway the British high commissioner, Sir Henry of Egypt corresponded secretly with the patriarch of Hashemite family and governor of Mecca and Medina. He convinced them to lead an Arab revolt against the empire of Ottoman aligned with Germany against Britain and France with the promise of the establishment of an independent Arab state (Price, Randal, pp20). In 1921 the British divided Jordan into two: the Emirates of Transjordan and the Palestine Mandate. Arabs were angered by Britain’s failure to fulfill the creation of an independent Arab state. The situation was most complicated in Palestine because of the promise to support the creation of a Jewish national home by the British. The Palestine Arabs opposed the British Mandatory because it threatened their aspiration for self-rule. Moreover, the massive immigration of the Jews threatened their position in their country. Clashes broke out between the Arabs and the Jews in 1920 and 1921 whereby roughly equal numbers from the two communities got killed. The Jewish National Fund purchased large portions of land from the absentee Arab landowners leading to their eviction. The displacements led to increasing tensions and violence between the Arab peasant tenants and Jewish settlers (Haiduc-Dale, pp34). According to the

Factors that cause effects on the airline industry

Factors that cause effects on the airline industry Introduction: Airlines overcome substantial strategic, financial and operational risks. In particular, the market changes in general economic conditions have influenced considerably the airline industry. Carriers have suffered losses of $50bn over the past 10 years  [1]  is the most specific evidence. Thus, this paper studies changes in four major fields confronting the airline industry including market forces, financial risks, government policies and global events as well. Simultaneously, this study illustrates different revenues to be derived from these points. Structure of this paper seeks to contribute in this way. After introduction, section 2 provides a theoretical analysis of market forces. Section 3, 4 and 5 describe the effect of financial risks, global event and government policies respectively. Finally, section 6 concludes the study. Analysis Market forces: First at all, the global airline industry faced intense impact as a result of the market forces of supply and demand. In fact, the change in demand is one of the most important factors which affected to the airline industry. The initial variable that can shift demand curve is income. In other words, if the passengers have the high income, obviously they will be able to get the tickets more in replacement of choosing car, train, etc. As a result, their demand to go by plane will definitely rise. However, over past 10 years, due to the global economic crisis, income has been decreased substantially which brings in the decline in demand of customers. This is illustrated by the Figure 1 below. Figure 1: Decline in demand Similarly, the wage of employees in the airlines industry has been varied considerably in the recent years. For instance, approximately 78% of employees at San Francisco Airport made under $10 per hour but this amount increased of 33% when there was a higher living wage ordinance  [2]  . All things said, the airline industry has been influenced frankly by incomes of their passengers and their own employees wages. In term of supply, input price is the essential variable to shift the supply curve. Indeed, fuel price is one of clear example. Because jet fuel costs comprise a significant component of airline operating cost, the airline industry also has been affected. While short term cash flows are related to changes in the fuel price which make revenue be slow initially, much of the price effects are likely to be passed on as all airlines face similar fuel costs in the long term. Indeed, there was an argument that airlines also face an underinvestment problem whenever profitable investment opportunities arise during times of high jet fuel costs.  [3]  About technology, due to the stronger development of technological system, the supply of world airline industry also rises. As a result, there are a huge number of both new and old airlines can provide the demand of customers. In term of competitors, if an airline sets up the higher price, they will obviously loss a large number of passengers at the same time which results in a lower revenue. The specific example is the differences in percentage of passenger seats sold (load factor) of 9 U.S airlines including Delta, American, United, Continental, US Airways, Southwest, Alaska, Jet Blue and Air Tran since they are competitors of each other. This following figure 2  [4]  describes this Figure 2: The rest variables also play an important role which affect to the demand curve of airline industry including tastes, expectation, technology and number of buyers or sellers but the most necessary factors are still the first two variables. Elasticity of demand is also the essential factor that influenced the airline industry. Indeed, competition consistently affects the price of airline tickets because it gives customers other options. When the demand is elastic, price and total revenue will be negative and when the demand is inelastic, price and total revenue will be positive. And this explains why the loss and earnings of world airline industry vary substantially. Hence, the table 1  [5]  below shows the annual loss and earnings of airline industry from 1990 to 2005 and figure 3 describes the annual net profit of the world airline industry  [6]  . Annual Loss and Earnings 1990 $   3.9 billion loss 1991 $   1.9 billion loss 1992 $   4.8 billion loss 1993 $   2.1 billion loss 1994 $   0.3 billion loss 1995 $   2.3 billion profit 1996 $   2.8 billion profit 1997 $   5.2 billion profit 1998 $   4.9 billion profit 1999 $   5.4 billion profit 2000 $   2.5 billion profit 2001 $   8.3 billion loss 2002 $11.0 billion loss 2003 $   2.4 billion loss 2004 $   7.6 billion loss 2005 $   5.7 billion loss Figure 3: Annual Loss and Earnings Figure 4: Financial risks: There are three factors that cause financial problem for airline industry: fuel price, interest rate, currency rate. Fuel price: In general, fuel price always plays an important role in the world economy. That is the reason why either increasing or decreasing of fuel price affect deeply on airline industry. It is easy to see that fuel and airline are complements. Airline cannot operate without the existing of fuel. Gasoline, oil, or other products from crude oil are utilized as irreplaceable fuel in airline industry. According to the theory, complements are two goods for which an increase in the price of one leads to a decrease in the demand for the other  [7]  . A change in price of fuel will shift the demand curve. In the other hand, assume that fuel is input and airline transportation is output. Rising in input price leads to a leftward shift the supply curve. The following diagram describes how fuel price causes a change in both demand and supply. Figure 5: Changes in both Demand and Supply Based on the diagram, when price of fuel increases from P1 to P2, the quantity demanded and quantity supplied decreased an amount computed by (Q1 Q2). As the result, both demand curve and supply curve shift to the left. Airline market reaches a new equilibrium E2. Applying those theories into the reality, the annual report 2009 of IATA stated that the surge in fuel prices in the first half of 2008 meant fuel represented more than 50% of many airlines operating costs  [8]  . By year-end 2009, crude oil prices had risen 85%, to $74 a barrel, as economic recovery began to raise demand and as futures markets, anticipating strengthening economic recovery, added to upward pressures  [9]  . Figure 6: Fuel price throughout the year, 2010  [10]   Higher jet fuel prices automatically eat into airlines profits; meanwhile improved economic conditions are boosting passenger numbers. For instances, in 2004, many nations including British Airways, had already added fuel surcharges to ticket prices or raised fares to counter higher fuel costs. Many of Asias major carriers, including Singapore Airlines, Australias Qantas, Malaysia Airlines and Indonesias Garuda had also introduced surcharges  [11]  . Fuel price cannot remain a stable status for a long run period then airline industry should be flexible to react quickly. Interest rate: Interest rate is other factor that effect on market economy in general and airline industry in particular. The interest rate connects the price of goods today and their price in the future. Higher interest rate increase expected cost of distress and this is particularly so for the airline industry where leverage is high and distress costs are substantial. Exchange rate: Exchange rate risk is important as airline profitability is related to currency values. Tourism demand is one of reasons that show how exchange rate cause changes of airline industry. Both inbound and outbound are influenced by exchange rate levels. When the exchange rate is high, tourist will receive benefits. The result is they are willing to travel more, thus, quantity demanded of airline tickets will be increased. In contrast, the depreciation of domestic currencies make tourists consider whether they should travel or not. Travelling in recessive period is a typically example. If the exchange rate falls down, customer might save their expenditure by not travelling or they might wait for promotion tickets. It means that foreign demand for international and domestic flights move inversely with the value of the home currency  [12]  . Global events The airline industry in the world has many changes every year. The more global event has happened, the more the affection has an effect on the airline industry. In 2001, after the terrorization 11/9 happened, the industry of airline decreased very quickly. Follow the number of airline industry, US airline posted they have net loss $7 billion. 20% staffs and employee lay off by US airline. The number of passenger reduce continuous and have criterion recovered in 2003  [13]   Figure 7: US Airline industry passenger revenues 1999 2004 Beside, the price of oil have effected on this industry. When the price of oil increase, the fees for material grow up .If the airline do not rise up the price of ticket, they will decrease their net profit. If the price of oil falls off, there are more than promotion tickets for passengers. Moreover, the disease can be affected to the industry .Example, when the SARS disease happened, many countries have not allowed passengers to come to place where SARS disease has. Government policies The government policy is another factor what can be effect on the airline industry. Because the government policy control on price, so the airline industry have 2 legal price such as price ceiling and price floor .The price ceiling is a legal maximum on the price at which a good can be sold  [14]  . For example, a airline has good quality, so they want increase fees. The price ceiling applied to fees to help people can be paid. When the airline wants to attracted passenger, they create promotions about the price their ticket. So the price floor is the price minimum at which ticket can be sold and the company airline still has net profit. P Surplus S E D 0 Q Figure 8: Taxes is a important factor of the government policy .When the taxes of the passenger increase ,the price of ticket rise up , so if the airline industry want to grow up, they need decrease another fees in ticket. When the taxes of the airline industry increase, the price of ticket will increase or the industry will cut off something to protect their profit. Conclusion: The above analysis showed that factors like market forces, financial risks, global events and government policies cause effects on airline industry. In order to overcome and continue develop own airlines, carriers should seek a suitable way. In details, by successfully managing opportunity cost, and adapting to an ever changing economic environment, airline industries can have economic success. However, the well-being of the nations economy will have a direct impact on the level of success experienced in the airline industry. During economic shortfalls in the nations economy, travellers will have fewer resources available to travel for pleasure. Contributing to the negative economic influences in the airline industry, future and existing policies targeting the airline industry will continue to hinder the industrys ability to recover losses in periods of economic hardships.

A Fortunate Life :: Free Essay Writer

Essay – A Fortunate Life by A.B. Facey â€Å"Bert Facey is the epitome of the legendary Australian†. Demonstrate this from a study of his autobiography. Albert Facey’s novel, A Fortunate Life depicts the life of an extraordinary man living in old Australia. Facey portrays many characteristics that would label him as being a ‘true Aussie battler’, but it is the deeper and more sensitive side of him that allows him to be labeled with the term – a legendary Australian. A legend by dictionary terms is someone who is admired by others and achieved great accomplishments. Facey has certainly both achieved and accomplished much during his life, such as learning to read at a late age. Facey’s life was full of private success and were it not for his book; he would have remained an unsung hero throughout Australian history. Facey’s lack of education haunted him throughout his early life. As Facey ‘hadn’t any schooling’ he found it difficult to read and write. Facey had always viewed his illiteracy as a personal shortcoming and took pains to not display his ignorance to the world. ‘Then a waitress came with a list of what we could have to eat. I was stumped – I couldn’t read or write. Then I had a brainwave and decided to have what Mr. Lander ordered.’ Facey was not comfortable with his feelings of inadequacy, and took many painful steps to try and rectify the situation. He eventually, through much practice and determination, learnt to read and write, and was able to pen his novel. The fact that Facey both acknowledged and overcame his illiteracy, shows him to be a man of great spirit and willpower as facing up to personal faults is never an easy thing to do. Life as an itinerant rural worker was very tough for Facey and not very rewarding. Throughout his early life, Facey was forced to work for extremely poor money and working conditions. Although life was hard, Facey was not one to complain or make trouble. He worked hard for the Bibby’s and previous employers, and was a loyal worker and a good companion. Facey showed an immense amount of pride in his work and was always willing to lend a hand to a mate. During his life, Facey made numerous friends or ‘mates’. He was friendly to the people he worked with, the soldiers he fought with and his family he lived with.

Managerial Economics Essay

Q.1.0) For each of the following events, assume that either the supply curve or the demand curve (not both shifted). Explain which curve shifted and indicate the direction of the shift. a.From 1950 to 1979 the wages paid to fruit pickers increased while the number of fruit pickers employed decreased. b.During the same period the price of radio sets declined, while the number of radio sets purchased increased. c.Housing prices are rising but more houses are sold. d.Australian Airlines reduces its average plane fare by 30 percent in order to attract more customers. Ans. a) In this case the number of the fruit pickers has decreased while the wages of the fruit pickers has increased. Thus, the demand has not changed. The supply of the fruit pickers has decreased, hence, the fruit pickers supply has shifted to the left. b) In this case the price of the radio sets declined while the number of radio sets purchased increased. This means the demand has increased. The demand curve has shifted to the right. c) In this case the housing prices are rising but more houses were sold. The demand of the houses has increased. The demand curve has moved to the right. d) In this the Australian Airlines reduces its average plane fare by 30 percent in order to attract more customers. The aim here is increase the revenue in the future. The supply is been increased to accommodate the increasing customers. The supply curve is moved to the right. Q.2.0) Explain the meaning of elasticity? What are the different types of elasticities? What are the factors that affect each type of elasticity? Of what use are these elasticities to business? Ans. Elasticity is a measure of the responsiveness of one variable to changes in another variable; the percentage change in one variable that arises due to a given percentage change in another variable. The Elasticity is one of the important factors to measure the market condition, the market character and depicts a comprehensive picture of the supply, demand relation. The different types of Elasticities are Own price elasticity, cross-price elasticity, income elasticity and other elasticity such as own advertisement elasticity and cross-advertisement elasticity. 2.1. Own price elasticity: A measure of the responsiveness of the quantity demanded of a good to a change in the price of that good; the percentage change in quantity demanded divided by the percentage change in the price of the good. EdQx, Px Percentage change in quantity demanded = %∆Qdx = Percentage change in price of the good %∆Px The Own price elasticity of demand is measured in terms of its absolute value, if the absolute value is greater than one (1) is said to be elastic, if the absolute value is less than one (1) is said to be inelastic and if the absolute value is equal to one (1) is said to be unitary. 2.1.1 Elastic demand: Demand is Elastic if the absolute value of the own price elasticity is greater than 1. │EdQx,Px│> 1 This means that the percentage change in the quantity demanded is more than the percentage change in the price of the good. Generally, the demand is elastic for consumer goods. The important point is when the total revenue increases (decreases) as a result of a fall (rise) in price, demand is elastic. 2.1.2 Inelastic demand: Demand is inelastic if the absolute value of the own price elasticity is less than 1. │EdQx,Px│< 1 This means that the percentage change in the quantity demanded is less than the percentage change in the percentage change in the price of the good. The demand is elastic for the daily requirement goods, specialty goods. The important point is when the total revenue decrease (increases) as a result of a fall (rise) in price, demand is inelastic. 2.1.3 Unitary elastic demand: Demand is unitary elastic if the absolute value of the own price elasticity is equal to 1. │EdQx, Px│= 1 This means that the percentage change in the price is equal to the percentage change in quantity demanded of the good. As the percentage change in price is equal to the percentage change in the quantity demanded, the total revenue does not change as price changes. 2.1.4 Perfectly elastic demand: A condition in which a small percentage change in price brings about an infinite percentage change in quantity demanded. │EdQx, Px│= ∞ 2.1.5 Perfectly inelastic demand: A condition in which the quantity demanded does not change as the price changes. │EdQx, Px│= 0 2.1.6 Influencing factors: The price elasticity is determined the following factors, the availability of the substitutes, time factor and the expenditure share of the product in consumer’s budget. * Availability of viable options: The price elasticity is very much influenced by the availability of substitutes. The price elasticity is greater when the substitutes are more. This is because of the wider choices consumer has. The minimal changes in the price of one good will result immediate shift of the demand to the other good. The elasticity for the broadly defined commodities tends to be more inelastic than the demand for specific commodities. This is because the specific products are demanded on the basis of the consumer’s tastes, preferences, likes, passion and need. * Time factor: The time factor influences the character of the demand of the good. In general, the availability of time allows the consumer to pursue the substitutes, which eventually results in the decline of the demand for the good whose price has increased. In short time, the demand is more likely to be inelastic for the reason that the consumer will not be able to find the substitutes. *Expenditure on the product: The amount spent by the consumer on a particular product determines the character of the demand elasticity of the product. The products on which the consumer spends fewer amounts are likely to be inelastic conversely the products on which the consumer spends large amount are likely to be elastic. This is because the slightest increase in their prices would have a great impact on the consumer’s budget. 2.1.7 Uses to the business: The own price elasticity is very much essential to the business to analyze the market and further to formulate the strategies to gain maximum benefit from the given situation. The price elasticity enables the firm to asses the relationship between the price of its product and the demand. The firm can be able to gauge the relationship between their products and other products in the market. This helps the firm to identify which are the competing products and complementing products. The firm by assessing the price elasticity can be able to define fine price strategies, promotion strategies and as well can contemplate about the synergies with the other firms whose products are in complementary relationship with the firm’s products. 2.2 Income elasticity: A measure of the responsiveness of the demand for a good to changes in consumer income; the percentage change in quantity demanded divided by the percentage change in income. EmQx, M Percentage change in quantity demanded %∆Qdx = Percentage change in the consumer income = %∆M If EmQx, M > 0, then X is a normal good, an increase in income leads to an increase in the consumption of X. If EmQx, M < 0, then X is an inferior good, an increase in income leads to a decrease in the consumption of X. 2.2.1 Influencing factors: The important factors influencing this elasticity are the income level of the consumers and the nature of the product. If the product is not having the perceived value or not having the perceived image, the product will be purchased more when the income level of consumer decreases conversely the products will be purchased less when the income level of the consumer increases. 2.2.2 Uses: The firms will be able to identify their product’s perceived  value. This assists the firms to modify their product’s features, promote well or position their product well in the market. In general, the firms are interested in making their products a normal good, the demand increases with the increase in the income level of the consumer. This elasticity helps the firms to define their pricing strategy to suit the consumer’s perceived value. 2.3 Cross-price elasticity: A measure of the responsiveness of the demand for a good to changes in the price of a related good; the percentage change in the quantity demanded of one good divided by the percentage change in the price of a related good. EdQx, Py = Percentage change in quantity demanded of one good = %∆Qdx Percentage change in price of related good %∆Py This elasticity helps in understanding the relationship between two goods. This elasticity explains whether two goods are complement or substitute to each other. If EdQx, Py > 0, the two goods are substitutes to each other, the larger the positive coefficient, the greater the substitutability between the two goods. If EdQx, Py < 0, the two goods are complement to each other, the larger the negative coefficient, the greater the complementary relationship between the two goods. The important point is the sign of the coefficient is important when mentioning the Cross-price elasticity. 2.3.1 Influencing factors: The close relationship between the products has a great impact on the elasticity. If the product has many competing or substitutes which offer similar benefits mix, the demand changes highly even with a minor changes in the price of the product or the changes in the price  of the substitutes. This elasticity is also influenced by the price of the complementing products; if the price of the complementing products increases (decreases) the demand for the firm’s product decreases (increases). 2.3.2 Uses: This helps the firms to handle the competition by formulating a well defined pricing strategy. The firms will be able to assess the relationship with the other products. The firms can identify the competing as well complementing products in the market. The demand of the product is highly influenced by the competing and contemplating product’s price. The firm by assessing the cross-price elasticity will be able to handle the competition and as well can form synergies with the firms offering complementary products. This will enable the firms to operate efficiently in the market. 2.4 Price elasticity of supply: The ratio of the percentage change in the quantity supplied of a product to the percentage change in its price. Es = percentage change in quantity supply = %∆Qsx percentage change in price %∆P Es > 1, elastic supply, the percentage change in quantity supply is more than the percentage change in price. Es < 1, inelastic supply, the percentage change in quantity supply is less than the percentage change in price. Es = 1, unitary elastic, the percentage change in quantity supply is equal to the percentage change in price. 2.4 Influencing factors: The influencing factors are the price of the product, the nature of the market. The ultimate objective of the firm is to make maximum profits, the firm will supply according to the rise in price and demand in the market to gain optimum profits. 2.5 Uses: This elasticity helps the firms to strike a balance among the price of the product, demand and supply of the product. This also helps the firms to define their production and supply str0ategy so as to address the given situation. Q.3.0) Read the New Economy Index dealing with the effects of internet and increased competition on business competition (http://www.neweconomyindex.org/section1_page06.html). a. List factors that are said to be driving the increased competition between firms? Do these factors suggest that the structures of the markets in which firms operate are taking on more of the characteristics of the perfectly competitive market structures? b. Is there information on these pages that gives an indication of whether increased competition is having an effect on the profitability of the firm? Ans. a) The factors that are said to be driving the increased competition between the firms are: i. Emergence of global market place. ii. The number of increased firms. iii. Technology that makes the entry easy for new entrants. iv. Ever increasing from securities markets to increase shareholders value. v. Frenetic atmosphere of mergers. vi. Increased number of large institutional investors. Yes, these factors suggest that the structures of the market are taking on more of the characteristics of the perfectly competition. The major  characteristics are the increased number of firms, more number of players. The easy entry for the new entrants suggests that the market is not having any entry barriers. b) Yes, the information on these pages indicates the effect of the competition on the profitability of the firms. The average price mark-up over the cost ration in manufacturing in United States had declined from about 19 percent in 1970 to 15 percent between 1980 and 1992. Q.4.0) Evaluate the economic case for economic integration in either South Asia or ASEAN region (chose the region which you live). Will this be beneficial for your country? Why or why not? Ans. I am from India and India is an active participant in South Asian regional development and welfare programs. The economic integration is an important factor influencing the prosperity of the nations worldwide. The economic integration is one most successful tool exploited by many countries to gain economic benefits and welfare. The movement of South Asian countries; India, Pakistan, Bangladesh, Nepal, Sri Lanka, Bhutan and Maldives towards the economic integration in the South Asian region will be a big step towards their economic welfare. The India has already signed Free Trade Agreement (FTA) with Thailand, one more similar agreement with Association of South East Asian Nations (ASEAN) and another trade agreement with Singapore in early next year. This is the initiative taken by India to bring close the nations of this part of the world and leap towards the economic integration. The developed have already formed their Regional Trade Agreement (RTA) such as North American Free Trade Agreement, European Union accord. The South Asian countries must formulate a similar platform to present their argument with one consented voice and craft own free trade agreement to counter the  growing competition from these countries. According a world bank report the success of the RTA is that the RTA were successful in eliminating the trade barriers thus, paving way for the free flow of goods and services, which ultimately benefits the masses. The trade barriers segment the market, restricts the free flow of goods, service, investments, development schemes which call for a joint venture. Therefore wide range policy measures are required to facilitate the economic integration. A direct shift from closed to open regionalism will enable the countries to operate in more liberal market. The increased relations between the nations allows the free flow of ideas, fosters alternative thinking and exchange of technology. In a liberal trade regime, the South Asian countries will reap benefits in terms increased volume of trade, larger investments and increased production but, also the new technologies which were hitherto unknown at work place. India, with a one fifth of worlds population has been successful in gearing the interaction between the South Asian countries, has a larger part to play and as well the biggest beneficiary from the economic integration in this region. There are some competitive complications in the integrations. Most of the countries are having rivalry among them as they offer similar products to the international market. India and Sri Lank compete in agro-products; tea, coffee, rubber and jute, Malaysia and Singapore in clothing, Japan and South Korea in electronics. At present the integration trade among SAARC is less than 5 percent, where as it is 55 percent in European Union countries and 65 percent in North American countries. The trade between India and Pakistan is currently at US$ 251; with the integration trade it would go up to US$ 4 billion. Q.5.0) What is a market failure? What are the different types of market failures? Discuss and give an example. Ans. The situation in which the following characteristics developed in the market is termed as Market failure. The different types of market failures are Market power Externalities Public goods Incomplete information 5.1 Market power: The ability of a firm to set its price above marginal cost. The main aim of the government is to create a perfect competition in the market. But, many a times it is not possible. There always exist some firms who have an advantage over the other firms operating in the same industry. These firms gain sustainable competitive advantage by having larger market share, high technology, competitive market position and/or financial support. The firm which has sustainable competitive advantage will exercise power to influence the market prices. The firm will keep its price higher than the marginal cost, the resources required to produce that unit good, thus decreasing the social welfare. The government will intervene in these instances to regulate these firms to increase the social welfare. When the firms exercise the market power, the social welfare will minimize, the consumer has to pay more than the cost incurred by the producer to produce that extra unit. The government formulates certain laws to avert the concentration in the market, which eventually results in Market power. In most of the countries, the governments formulate laws to control the formation of market power by legislating antitrust policy and price regulation. Example: The formation of a monopoly is a clear case of market power. Most of the firms attempt to build a monopoly. In monopoly market, the entry is restricted and the firms can charge high price than the marginal cost. In the above figure it shows the monopolist’s demand, marginal cost, and marginal cost and marginal revenue curves. In a perfect competitive market all the consumers are charged similar. But, in this case the monopolist charges PM price for the profit maximizing out put units of QM. At this price the consumer is pays higher amount for the last unit produced than the cost to produce it. Total social welfare in monopoly is the sum of producer and consumer surplus, the region W in the above figure. The triangle ABC represents the dead weight loss. 5.1.1 Antitrust policy: Government policies designed to keep firms from monopolizing their markets. The main aim of the antitrust policy is to eliminate the dead weight loss and discourage the mangers to exercise price-fixing agreements and other collusive practices by declaring it as an illegal to foster monopoly. The first successful antitrust act was used against United States and Trans-Missouri Freight Association agreement, which the Supreme Court declared as illegal. Standard Oil of New Jersey along with Standard Oil of Ohio was charged with attempting to fix the prices of petroleum products and the prices at which the products would be shipped. Standard Oil, in particular, was accused of numerous activities designed to enhance monopoly. 5.1.2 Price regulation: In many instances a single firm may be able to service the market or the  government may wish to allow the firm to practice monopoly. When the economies of scale are larger, the government may allow the firm to practice monopoly but choose to regulate the price of the firm’s products. Example: In India, the government has allowed the Maruti Udyog Ltd., au automobile manufacturing firm, to practice monopoly in small car segment till 1998. This was mainly to support this PSU, to gain the strength in the market and as was the capacity of the firm was made to address the demand of the market. Even though the Maruti was the only car manufacturer in the small car segment, the government has practiced strong price regulation in order to eliminate the dead weight loss. Regulating a Monopolist’s price at the Socially Efficient Level 5.2 Externalities: Effects on the third party who is not the part in decision making process is termed as the Externalities. There are two types of externalities; positive externalities and negative externalities. 5.2.1 Positive externalities: The benefits are received by the party which is not involved in the production or consumption of a good. Example: The benefits of the immunization of the public, which eventually leads to building a health society, benefits all the people irrespective of their participation in the process. The government programs aiming at imparting education to every one leads to the building a knowledgeable society. This initiative benefits the whole nation. 5.2.2 Negative externalities: The costs borne by parties who are not involved in the production or consumption of a good. Example: The pollution in the air, water and soil. The public in general suffers with out directly involving in the process. The society will be bearing some costs of this damage to the environment, but eventually the  impact will on everyone. 5.2.3 The Clean Air Act: The Clean Air Act was formed to address the much devastating issue of the pollution. The new act covers the industry which releases over 10 tons per year of any of the listed pollutants or 25 tons per year of any combination of those pollutants. The firms under this act are required to obtain permit to pollute. The permit is issued to the industry on the basis of its nature, level of pollution in that area and the calculated level of pollution that would be emitted by the firm at a fee. The act also supports the new entrants to find efficient ways to decrease the pollution in the industrial process. The Act’s another important feature is, a firm can sell its limit to the other firm if the firm has lower level pollution than the permitted level. This is to encourage the firms to find the new ways to minimize the pollution in their firms. 5.3 Public goods: A good that is nonrival and nonexclusionary in consumption. Public goods are the goods, which can be consumed by everyone. The goods are not paid by any one or the benefits are received by everyone. These benefits cannot be allocated to any single person; clean air, sunlight etc. In general, if no one pays for these goods, as everyone along with the purchaser will be benefited. Thus, there is little or no major incentive for the purchaser. This very factor leads to free ride phenomenon. 5.3.1 Nonrival consumption: A good is nonrival in consumption if the consumption of the good by one person does not preclude other people from also consuming the good. Example: street lights, public parks, radio signals, national defense. 5.3.2 Nonexclusionary consumption: A good or service is nonexclusionary if,  once provided, no one can be excluded from consuming it. Example: clean air, roads. It would be advantageous for a firm to contribute to public goods in its market place to create goodwill in the market. The same thing goes with the individuals as well. The benefit arising from paying for the public good is not exclusive for any individual, thus everyone would be willing not to pay for them, which eventually results in failure of the market in providing public goods. In conclusion, if the firm’s goal is to maximize profits, the last dollar spent on contributions to public projects should bring in one additional dollar in revenue. 5.4 Incomplete information: The information about the product and services to all the interested parties is important for the market to operate efficiently. The participants must have good knowledge about the product or service’s features, price, benefits, the risks and the available technologies. The incomplete information will eventually result in inefficiencies in the market functioning, usage and the firm’s output. The severe causes of market failure are asymmetric information, a situation where some market participants have better information than others. The presence of asymmetric information can lead buyers to refuse to purchase from sellers ort of fear that the seller is attempting to dump the product because it worth less than they are willing to pay and in some cases, may lead to the market collapse. The government has formulated policies to address this issue. 5.4.1 Rules Against Insider Trading: The regulation to avert the asymmetric information problem is by formulating rules against insider trading. The insiders will have more information about the company; can take better decisions about its stock trading. This if continues, the traders may reject the company’s shares. There will be little or no chance to the outsiders in the market which is dominated by the insiders; this will eventually result in market failure. To prevent insider trading form destroying the market for financial assets, the government has enacted rules against insider trading. The regulation is in Section 16 of the Securities and Exchange Act (1934) and amended in1990 and effective form May 1, 1991. Example: The manger has who has got a better knowledge about the company’s inside information may utilize to gain profits. If the company is contemplating to form a merger which would increase the value of the company, will buy the share in advance and sell them when actually the share value increase after the merger. Thus, gains maximum profits. 5.4.2 Certification: To eliminate the asymmetric information problems, the other devise is the certification. The government issues the certification of authenticity to the product or services after confirming to prescribe standards. This will ensure the consumers to get a fare deal in their transactions. Example: The issue of certification of authenticity by the government to the schools, colleges, industries etc. 5.4.3 Truth in lending: The little or no comprehensive information about the barrowings has resulted in financial crisis across the world. The government has passes legislation on the barrowing and repaying criteria to simplify the issue, Truth in Lending Simplification Act (1980). The truth in lending act affects both the supply and demand of credit. The barrowers have more information about the credit criteria, reduces the risk involved in repayment of the loan. The availability of information to the  barrowers increases the demand, thus, the demand curve for the loans moves towards the right. The suppliers are affected mainly by the increased cost in complying with the government regulations, hence the supply curve of the loan moves towards the left. This movement eventually results in increase in the price of the loan (interest). 5.4.4 Truth in advertising: Advertisement is one of the important means of communicating with the potential and actual buyers. The main aim of the advertisement is to turn viewers into buyers. Under the pressure to push the product in the market, the companies will indulge in providing the false information or too much from too little truth. When the consumers understand this, they will switch to competitor’s product or service. To alleviate this problem the government formulated the truth in advertisement. The main aim of this regulation is to cease the company’s from giving false information and to compensate the consumer who has incurred damages from a misguiding advertisement. 5.4.5 Enforcing contracts: Today’s markets are so dynamic, the relationships changes very quickly. In the attempt to gain the maximum benefit from a given situation, the companies become opportunists. To preserve the best interest of both parties the government has formed enforcing contracts regulation. In most of the instances the end-of-period is a crucial thing. The firms often violate the contract principles to gain instant benefit from a changing situation with out due concern to the other party’s interest. To solve this problem the government has formed Enforcing contracts, requires dishonest people to honor the terms of contracts. 5.4.6 Rent seeking: Selfishly motivated efforts to influence another party’s decision. The government always intervenes into the market in order to avert the market  failure. The government’s aim to intervene the market is to improve the allocation of resources in the economy by alleviating the problems associated with market power, externalities, public goods and incomplete information. The government policies benefits one party at the expense of other party. For this reason the lobbyists send huge amount of money in attempts to influence government policies. Q.6.0) Define CPI and Unemployment. What is the limitations/criticism of the following? a. CPI as a measure of change in prices. b. Unemployment rate as a measure of true employment. Ans. 6.1) The inflation and deflation are the two vital determining factors of the macroeconomics. Inflation: An increase in the general (average) price level of goods and services in the economy. The inflation does not mean that all prices of all products in the economy rise during a given period. Inflation is an increase in the overall average level of prices and not an increase in the price of any specific product. Deflation: A decrease in the general (average) price level of goods and service in the economy. In genera, the deflation is the reduction in the rate of inflation. 6.2 The Consumer Price Index (CPI): An index that measure changes in the average prices of consumer goods and services. The consumer price index is the widely accepted and used scale for measuring the inflation or deflation. The CPI is also called as the cost-of-living index. The CPI will measure the price changes in the consumer goods only. This measurement is considered with the effect of changes in the prices consumer goods on the income of the consumers. In Australia, the Australian Bureau of Statistics (ABS) prepares the CPI. The ABS price collectors contact a sample of retail stores, other businesses supplying consumer products or services, home owners and tenants in Australia’s capital cities, each quarterly. The items included in the market basket are the items used or consumed by a typical urban family, under the category of food & beverage, clothing, housing expenses, transportation, medical care, entertainment and a range of other goods and services. The composition of the market basket generally remains unchanged from one period to the next; hence the CPI is also called as fixed-price index. Computing CPI: CPI = Cost of the market basket of products at current year prices Ãâ€" 100 Cost of the same market basket of products at base-year prices Base year: A year chosen as a reference pint for composition with some earlier or later year. Annual rate of inflation= CPI in given year ─ CPI in previous year Ãâ€" 100 CPI in previous year 6.3 Limitation/criticism of CPI: The CPI as a measure of change in prices has attracted much criticism because of its limitations. The reasons for the change in price are affluent, the computing of CPI does not consider all these factors as it would be  difficult to collect and compile the data. 1. The CPI considers the items consumed by a typical urban family rather than the purchases of the consumers in every area. This very character limits the CPI to present a comprehensive measurement. Even in the family segment, the purchases of different families differ considerably from a typical family, the retired people have different buying criteria, purchases more of medicines and less of children products and the family who have more young children will have different needs. 2. The CPI does not acknowledge the changes in quality which in many instances results in the changes in the prices. Generally, the improving quality or performance of a product costs more to the producer, thus the producer will increase the price, the CPI fails to acknowledge this very fact. The price of television has increased quite highly, but the quality of the picture, sound and the added features are also the new benefits of today’s televisions, the CPI will not take these factors into consideration. 3. The composition of the market basket most of times is unchanged, which results in ignoring the latest trends. The market is more dynamic than ever and every year there are many new and innovative products and service are introduced to the market. The failure to take the changing patterns and preferences, the CPI will not be a comprehensive measure of the change in prices. b) It is very important for every country to assess the unemployment rate. The countries most important and valuable asset is its labor force. The government has to gauge the productivity of its employment force to develop the country. 6.4 Unemployment rate: The percentage of people in the labor force who are without jobs and are actively seeding jobs. The unemployment is not all the people who do not have jobs, but the people who are part of the labor force who do not have jobs or seeking jobs. 6.5 Civilian labor force: The number of people 15 years of age and older who are employed or who are actively seeking a job, excluding those in the armed forced, home makers, students, discouraged workers and other persons not in the labor force. 6.6 Limitations/criticism: The calculation of Unemployment rate has attracted much criticism for limitations to give a comprehensive detail of the employment. The Australian Bureau of Statistics (ABS) computes the unemployment rate in Australia. 1. False response to the ABS survey about the unemployment. The respondents may give false information about their employment. The respondents may give false information about their current position; they might say they are seeking a job even if they are not or employed in illegal activities. This could be because of the benefits of registering oneself as unemployed or job seekers. 2. The official definition of the unemployment understates the unemployment rate by not considering the discouraged workers. Discouraged worker: A person who wants to work, but who has given up searching for work because he or she believes there will be no job offers. After repeated rejections, discouraged workers often turn to their families, friends and possibly other forms of welfare for support. The ABS counts a discouraged worker as anyone who has looked for work within the last six months, but responds that they no longer looking for a job and includes in ‘not in labor’ category. The number of discouraged workers is likely to rise during a recession; the degree of underestimation of the official unemployment rate is thought to increase during a downturn. 3. Another understating of the unemployment rate occurs because the survey treats the part time workers equal to the full time workers. Some of these  part time workers might be willing to go for full time job given a chance. These latter workers are underemployed. Such under-utilization of the employees is great in recession, but is not reflected in the measured unemployment rate.

Charlemagne Study Guide - Important Facts

Charlemagne Study Guide - Important Facts BiographyTimelinePeople Birth and Family: Charlemagnes parents were Pippin III and Bertrada, who wed in 744.His traditional date of birth (742) makes him illegitimate. Most scholars agree he was born after his parents married, possibly as late as 747.Charlemagne married five times and had numerous concubines and children. He kept his family around him nearly always, sometimes bringing his sons with him on campaigns.Only one legitimate son, Louis, survived him to inherit the empire. Campaigns, Conquests Expansion: Charlemagnes methods could be extreme, but the end result was the largest territory to be governed under one ruler in Europe in the Middle Ages. (See map.) Avars: 791-796The Avars had once controlled a small empire near present-day Belgrade. Charlemagne virtually eliminated their society, the remains of which would succumb to the Bulgars in the 9th century.Bavaria: 788When Duke Tassilo reneged on his oath of fealty, the king removed him from power and put Bavaria under his jurisdiction. This brought the territory of all the Germanic tribes into one political unit.Lombardy: 771-774Answering the call for help of Pope Adrian I, who was pressured by the Lombard king to anoint Carlomans sons as Frankish kings, Charlemagne launched a campaign that included an extended siege of Pavia, Lombardys capital. Saxons: 772-804The war against the Saxons, though interrupted by truces, pledges of allegiance and mass baptisms, was particularly bloody and included the execution of 4,500 Saxon prisoners in one day. In all, Charles engaged the Saxons 18 times.Spain: 778Charlemagnes most serious defeat took place when he failed to take Saragossa, retreated across the Pyrenees, and was ambushed by Basques. The death of one of his lords would later be memorialized in the epic poem, The Song of Roland. Administration: Charles generally delegated authority as follows: Comtes (Counts) ruled regions within the stable territory of FranciaMargraves governed newly-acquired territories (marches), where military measures were necessary to maintain orderBoth comtes and margraves reported to Dukes, governors of the larger divisions of land who were Charlemagnes close relatives and most trusted friendsMissi dominici acted as his emissaries and inspectors general, traveling throughout the empire Cultural Impact: Charlemagnes patronage of learning would result in: A Carolingian Renaissance in which art and literature would flourishThe preservation of numerous Latin manuscripts that would otherwise have been lostThe establishment of a good number of monastic schoolsThe creation of Carolingian Miniscule, an alternative to the capital letters used in Latin text Charlemagnes Legacy: Although the empire Charles built did not long outlast his death, still his consolidation of territory was an important stage in the growth of Europe. In addition, many of the changes and developments made by Charles himself, or fostered due to his patronage, would endure long beyond the Carolingian Empire. The offices created or adapted by Charlemagne would persist for centuries in the variations of counts, dukes and marquises across Europe and Britain.Charlemagne reorganized the monetary system, devising the system of pounds, shillings and pence used throughout Europe in the middle ages and in Britain until the 1970s.The monastic schools Charlemagne developed would preserve a tradition of learning, which in turn made an important burst of medieval scholarship possible in what became known as the 12th-century Renaissance.90% of the works of ancient Rome now in existence are preserved in the form of eighth- and ninth-century manuscripts copied in Carolingian monasteries.The Carolingian miniscule script would eventually become the lower-case letters we use today.The Song of Roland, inspired by events that took place in Charlemagnes worst defeat, is the earliest known chanson de geste. It is part of a cycle of works that revolve around Charlemagne, about whom many legends sprang up. These legends, known as the matter of France, would influence French and European literature through the centuries to today. Charles had a palace and a cathedral built in his favorite town, Aachen (or Aix-la-Chapelle), where he also died and was buried. Aachen became the location of the coronation of every emperor until the 16th century.The Carolingian Empire would inspire a tenth-century ruler, Otto the Great, to consolidate his territory in what came to be known as the Holy Roman Empire. Covering much of what Charles had controlled during his lifetime, the Holy Roman Empire was one of the most significant political entities of the Middle Ages. Charlemagne Study Guide BiographyTimelinePeople

#8220;Analytical Essay Sample on Gender Norms Based on #8220;#8221;The Last Man#8221;#8221; #8220;

#8220;Analytical Essay Sample on Gender Norms Based on #8220;#8221;The Last Man#8221;#8221; #8220; Introduction Gender is simply defined as the cultural and social construction of masculinity or feminity (Perry 8). This definition is not only enough when talking about gender as the term encompasses several factors like sexual orientation, common appearance and even forms of communication. However, this being a very wide term has led to formation of stereotype implying that men and women have to adhere to some gender roles for them to be seen socially as fit and hence some recognition in the society. In opposition to this stereotype which I believe it intends to impose and force some roles basing on gender hence favoring one gender or another. Women gender norms in the society The topic of women gender norms in the society is very instrumental in shaping up the society which is a building block to the nation. Therefore, when talking about gender roles there are various ideologies that arise hence emergency of stereotypes. This influences the way a group of people will behave and act in order to be accepted in a given gender group. For example, there has been a stereotype on how a perfect woman and man should look like. One who does not subscribe to these activities is seen as an outcast and thus not accepted in the society. Not that this attributes are from the holy book of God but just by man as observed from televisions, magazines and advertisements. In other words, for a woman to be considered perfect, it involves beauty in shape, dependent, caretaker, housewife, respectful, loving and nurturing. This is not true as one cannot possess all these characteristics at ago. Depending on the outcome the society will either reject or hold an individual. On the other hand, a perfect man is considered to be strong, masculine and a provider. According to Vaughan in the book The Last Man (Vaughan 22), he dwells on the positive ideology concerning women where he represents women as being strong physically as opposed to the stereotype of them being weaker sex. This is clearly brought out when Yorick is beaten almost to death by a woman who fights impressively disabling them. In addition, to this we are informed that women show the ability of leading armies and nations. They also demonstrate intelligence in the biological research where they lead from the front. In this case the stereotype of women being cooperative is not true as they turn out to have more convincing power than men hence outdoing them. An example of this from the last man is when Women like Rep Brown and Rose are concerned for the common good (Vaughan 66). Chauvinistic stereotype of men is also demonstrated when Yorick who is a staunch traditionalist believes that there is nothing a woman can do but instead he ends up being held by a supermodel lady with a gun. Instead of fearing for his life he thinks the woman is after raping him as he assumes she is a weaker sex (Vaughan 47). This is not true as the supermodel is not interested sexually but she is after killing him. Another stereotype disapproved in the comic book is the one of women being peace loving and cooperative than men. On contrary Yorick becomes surprised to learn that the militias of republican wives are demanding for their husbands. This just shows that whenever women want something that they believe is rightfully theirs they will push very hard to get it. Despite of several criticisms the book still holds on traditional and artistic norms which reinforce stereotypes concerning gender. The relationship between Yorick and Beth is related to dating norms of medieval operation. Yorick here is portrayed as a knight who has to endure so many things in order to reach his beloved one. This tells us man is meant to be the seeker and provider which is not the case any longer as presently it is either way. Another gender norm that surfaces is feminism. This comes out in this comic book when all the women including Agent 355 having colored lips, which not even a single man in the story dares to have. Literary in the current situations which kind of man will have time for lipsticks; hence signifying this character is meant for women. The comic medium here is based on paint differentiating between men and women. (Vaughan 105). The ideology in the book continues to suppress the gendered norms of tradition. This is because from the book we learn that oppositional ideologies will still be persisting at least in one way or another. Even though there is evolution in the way society perceives gender some norms cannot completely be eliminated. Ironically there is a justification of women being perceived as subjects for sex. When we are told that the truck super model posed with her gaze to right, nipples protruding towards the observers. This simply justifies that it is women who have to attract to their side by showing what they have and not the other way round. Conclusion This being a very intriguing topic needs a sober approach during the discussion depending on one’s experience and information from the available literature.

Role of the European Capital of Culture Research Paper

Role of the European Capital of Culture - Research Paper Example There also lies a threat of consistency â€Å"as the cities are seeking to fulfill a format of the ideal ECC† (Palonen, 2011, p.246). After studying three applications related to the ECC 2008 as well as the argument surrounding the bid, various researchers, including Griffiths, has claims that â€Å"the ECC bidding process managed to articulate differences between the cities, and their distance to the local and regional strategies† (Palonen, 2011, p.246). Hitherto, while creating dissimilarities between cities, areas and even presenting insights to Europe which vary, the thoughts of culture are somewhat similar. And also are the characteristics of the programmes as well as their applications (Palonen, 2011, p.246).  Ã‚   In respect to the policy process, all the European cities become symbols of Europe as the ‘family of cultures’. The examination on this super-occurrence could center on the institutions as well as on the actors of the procedure; however, in various articles, a novel viewpoint is required. This explores how the process of institutionalization associated with the cultural models of Europe, partaking as well as special effects (habitually gentrification) are restricted in the liberty of the city performance artistic interferences as an element of the official programme related to two closely linked with ECCs. The degree of inspection is related to the micro-context that is associated with ‘an encounter between the locals and the intervention staged by ‘cultural workers’ including the author herself’. Originally, it has been the thought of nominating the â€Å"European City of Culture† that has been voiced in the year 1983 by the â€Å"Greek Minister of Culture†, Melina Mercouri. In this regard, ECCs has been chosen since the year 1985 and also the policy has been shifted over the passage of time.  Ã‚  

Stem cell research and should it be federally funded Paper

Stem cell and should it be federally funded - Research Paper Example The present enthusiasm over prospective stem cell-produced remedies radiates from the new innovations of genetic biology. Though one cannot forecast the results from basic research, there is enough information available to suggest that a good deal of this enthusiasm is justified. This enthusiasm is not shared by those of the religious right. This faction is opposed to embryonic stem cell research which they claim as immoral and characterize as devaluing human life, much the same as does abortion, drawing a link between the two. This discussion will provide a brief overview of stem cell research and its benefits to society, the debate surrounding the issue and the arguments for continued research. Embryonic stem cells possess the ability to restore defective or damaged tissues which would heal or regenerate organs which have been adversely affected by a degenerative disease. Cell therapy has the very real potential to provide new cures for diabetes, cancer, kidney disease, macular deg eneration, multiple sclerosis and many other kinds of diseases. Cell therapy has also demonstrated a great potential to help repair and regenerate spinal cord injuries which would help paralyzed patients recapture lost body functions. The possibilities are limitless including greatly advancing the human lifespan because aging organs could be replenished. â€Å"We may even have the ability one day to grow our own organs for transplantation from our own stem cells, eliminating the danger of organ rejection.† 1 The three main objectives given for pursuing stem cell research are obtaining vital scientific information about embryonic development; curing incapacitating ailments and for testing new drugs instead of having to use animals. The scientific techniques for obtaining stem cells could lead to unparalleled advances and even cures for these and other ailments. It has been substantiated from animal research that stem cells can be differentiated into cells that will behave appr opriately in their transplanted location. For example, the transplantation of stem cells following treatments for cancer has found much success for many years. There are numerous potential sources. The first is bone marrow stem cells. This type of stem cell is probably the most recognized of the stem cells. It has been used routinely to treat a variety of blood and bone marrow diseases, blood cancers and immune disorders. Leukemia is the most recognized disease that has been treated with a bone marrow transplant. New evidence suggests that bone marrow stem cells may be able to differentiate (the process by which an unspecialized cell acquires the features of a specialized cell) into cells that make up tissues outside of the blood such as liver and muscle. 2 The second type of stem cell is the adult stem cell. An adult stem cell is thought to be an undifferentiated cell, found among differentiated cells in tissues or organs. These cells can renew themselves and can differentiate to b ecome some or all of the major specialized cells types in the tissue and muscle it resides in. The primary function of this type of stem cell is to maintain and repair the tissue in which they reside. Because there are a very limited number of adult stem cells in each tissue coupled with their limited capacity to divide; making generation of large quantities of these cells is