The Role of Parental Involvement in Student Achievement

The Role of Parental Involvement in Student Achievement The Role of Parental Involvement in Student Achievement The role of parent involvement in student achievement has long been researched and documented. Of course, one cannot ignore the role of a student’s inherent drive, determination, and perseverance as a factor in success; however, more often than not, when one sees a successful lawyer, doctor, businessman, or teacher, a strong foundation of parental support has been deeply rooted.Some of the most successful ways parents can get involved is through: expressing high but realistic expectations; encouraging their child’s development and progress in school; and modeling the value of learning, discipline, and hard work (Elam, 2002). The theory that if one sets high expectations for oneself, one will fulfill those expectations is not a new one. Studies have shown that students who have parents that have instilled high expectations into them are more successful than tho se than do not.Catasambis found that when parents guided their children towards classes that would enable them to successful post education programs, students were more likely to be successful. â€Å"When families knew about and guided high school students to classes that would lead to higher education, students were more likely to enroll in a higher-level program, earn credits, and score higher on tests. Regardless of family background, the issue of parent expectations had the strongest effect on grade 12 test scores in all subjects† (qtd. n Devarics & O’Brien, 2011). The higher the expectations the parents set for their children, the better their children performed. In addition to setting high expectations, successful parental involvement requires parents to be involved in their child’s development and progress in school. The Michigan Department of Education found that 86% of the general population believes that parental support is the best way to improve scho ols, and lack of this involvement is the biggest problem (Elan, 2002).Parental involvement includes being present and active in the school’s PTA, familiarizing themselves with options for classes, understanding the standards that need to be met for their children, encouraging their children to meet those standards to be successful. Research has shown that when parents are involved in the schools and monitoring their children’s progress, the results are: higher grades, better school attendance, better self-esteem, and decreased use of drugs and alcohol (Elan, 2002). Along with the monitoring of students’ development and progress in school comes student success.Parents are the first role models that children have. By modeling the value of learning, perseverance, and hard work, parents are laying the groundwork for successful students. An inner-city parent involvement program began parenting workshops where parents were given the opportunity to improve their own re ading and writing skills in order to help their children. This example set by the parents, increased the students’ interest in education and learning and enhanced students’ self-esteem as reported by teachers and parents (Hara & Burke, 1998).This modeling of the value of learning, self-discipline, and hard work leads the way for a successful academic career for their children. The success of the future generation lies with the parents of school-aged children. Parents have a responsibility to their children, in addition to the burden that society has places on our schools. Some of the most successful ways parents can get involved is through: expressing high but realistic expectations; encouraging their child’s development and progress in school; and modeling the value of learning, discipline, and hard work.It is the responsibility of parents to ensure that their children are equipped with the tools and knowledge to be able to make it in this world. References Der varics, C. , & O'Brien, E. (2011, August 30). National school boards association. Retrieved from http://www. centerforpubliceducation. org/Main-Menu/Public-education/Parent-Involvement/Parent-Involvement. html Elam, R. (2002). What research says about parent involvement in children’s education in relation to academic achievement. Retrieved from http://www. michigan. gov/documents/Final_Parent_Involvement_Fact_Sheet_14732_7

Marine science Essay

5.Explain how a Harmful Algal Bloom can impact an ecosystem. The toxins can be spread throughout various organisms as of humans and the food chain. If the consistent blooms it can block the light from reaching into the water and it can cause many organisms dead. 6.Create a chart or Graph showing the estimated economic impact of HABs on the United States over three years. You may use any type of chart or graph you wish. If you need some help with charts or Graphs click on the Graphs and Chart Help below. You may use one for each year or include all three years on the same chart or graph. Based on the data what would you predict about the economic impacts in the years to come? 1.Name two types of sickness you can get from phytoplankton in Florida, and describe how you can get them. What symptoms led to the diagnosis of our patients? The two types of sickness are Lyngba and Karlodinium Veneficum. You can get lyngba when you swimming in the ocean and you can get karlodinum veneficum if you eaten a fish they have toxins in it. 2.Explain how an HAB outbreak can have a devastating economic impact? It reaches to tourism, public health, safety jobs, and coastal communities. It causes the beaches to be closed the fishing and shellfish to shut down. 3.Why do you think it can be difficult to determine the causes of HAB related illnesses and events? It can be very difficult because many of the symptoms are like every sickness which include sniffling, coughing, sneezing, and may be confused as a common cold or fever. 4.Summarize how the conditions found in the Gulf of Mexico contribute to the overgrowth of phytoplankton. Gulf of Mexico has over 40 kinds of toxic algae and since people still eat the fish it contribute to the overgrowth.

Critical overview of the role of fashion management in relation to the Essay

Critical overview of the role of fashion management in relation to the different market subdivision in the fashion industry - Essay Example To add on, fashion managers execute and create and execute good marketing strategies that aim to keep their retailers relevant. This is through positioning them as being stylish and better than their competitors. Through fashion managers, brands are able to meet and satisfy the customers’ needs. Everybody is a consumer of either a product or a service and has a behavior. Blackwell defines consumer behavior as the things that people do when they consume, obtain, and dispose goods. There are three major factors than can affect a consumer behavior when purchasing an item. Personal is one factor where the customer will purchase something based on things like sex, age or race. Young people will be seen to purchase something for a different reason than an older person (Yang and Peterson, 2004). Psychological factors contribute in a consumer making a decision to purchase a particular item. Motive, perception and knowledge are some psychological factors that a customer will use when deciding to buy a particular product (Blackwell et al, 2003). A consumer that follows a healthy lifestyle will tend to purchase items based on this factor. Personal traits of a consumer such as friendliness, introversion, ambitiousness and compulsiveness will influence the choice of product they will pick in a store. Social factors will also contribute to which item a customer will pick from a shelf. Opinion leaders, roles in family and social class are things an individual identifies with making them to buy clothes or shoes based on that. If a particular leader is viewed as a role model by money and he associates himself with a particular brand then the people that view him as a role model will pick the brand associated with him (Yang & Peterson, 2004). In 2006, the Chief Executive Officer of Abercrombie and Fitch was invited to an interview by Salon Magazine in the opening of the company’s flagship store. The CEO made insensitive statements such as, only the young, beautiful and

Civic learning summary of rehab facility visitation Essay

Civic learning summary of rehab facility visitation - Essay Example Denial is part of the addiction; justification, blaming, and rationalization are all characteristics of denial. Communication between the counselor and the client facilitates the rate of recovery. The concept of using communication in promoting civic democracy is necessary. In a drug rehabilitation facility, counselling starts by building a client-counselor relationship based on the effectiveness of their communication. In our civic responsibilities, effective communication facilitates dialogue with peers and community members. Most drug addicts attribute their addiction to stress resulting from a difficult life or a stressful activity, program or parents. During counselling sessions, the addict is required to discuss each of these areas with the counselor or in a group talk. This approach seeks to bring an understanding of the concept of symbolism where certain signs call for attention to significances. The counsellor outlines the significance of symbols and how they relate to what has been perceived as they point to indicate, or denote something other than themselves. The lesson here is attaching emotional or physical symbols in performing our civic duties could lead to a crowded judgment. The concept of leadership and implementation gets outlined in the counselling sessions between the addicts and the counselors. The counselor should be able to adapt accordingly based on immediate client needs and capacities. The client needs to seem to be in control while the counselor should always maintain control. A counselor determines the appropriate time to probe and when to let the client take charge. These concepts are important in the delivery of our civic duties. Students realize the importance of understanding the community and what is necessary and

HOW IS INTERNET RECRUITING IS CHANGING WORLD OF HIRING Research Paper

HOW IS INTERNET RECRUITING IS CHANGING WORLD OF HIRING - Research Paper Example Recruitment processes are no different. Internet recruitment or e-recruitment refers to the recruitment processes that take place on the web. The conventional modes of recruitment and job seeking have been substituted by internet recruitment; the online platform where job vacancies are uploaded by organizations and job seekers apply for the appropriate positions in the most reliable and fast-paced manner. Earlier, the technical concept was limited till the technologically savvy individuals but now, it has become one of the mainstay components of the modern recruitment activities. Internet Recruitment Internet recruitment industry is thriving year after year. Younger discussed the conclusions of a study; the annual revenues of the respective sector accumulated to more than $3 billion in 2003. This figure increased to $16 billion by the year 2007 and it was expected to reach $20 billion in 2008. Younger quoted some other results from a series of surveys that conducted studies on the nu mber of applicants and job seekers who use internet to search for jobs. In 2003, the number of such job seekers accumulated to 45 %. In 2006, the number had increased to almost 96%1. The two main actors in this domain are job seekers and organizations. There are different platforms on the web on which the recruitment processes take place; job portals, company’s websites under the ‘careers’ sections and professional networking sites. The advantages and disadvantages will be analyzed in this paper, with respect to both of the identified actors: Changes in Recruitment for Job Seekers Advantages of Internet Recruitment a. Time saving and cost effective Job seekers can upload their resumes on the online recruitment agencies’ websites where organizations can select most suitable candidates from the uploaded resumes. The resumes are uploaded instantaneously on the job portals’ websites in a reliable manner, rather than mailing the resumes through an unpred ictable and time consuming mode of postal system. This medium tends to be cost effective for the applicant, especially if the job application has to be sent across the border; international postal mail costs significantly more than the regional ones. b. Effective search options for suitable vacancies The search features of the job portals permit the job seekers to find jobs with specific requirements and experiences. Such search results can present suitable jobs for the job seeker and save time in browsing through hundreds of job advertisements. c. Detailed descriptions for available jobs Job seekers can benefit from detailed job descriptions of vacant positions that are posted on the web. The details can help the applicants judge their aptness for the position. The absence of details in other mediums gives the applicant counterfeit hopes about getting the position. On the contrary, the availability of the job descriptions gives him a pragmatic position of his chances of getting the job. Disadvantages of Inter

The Prevalence of Plastic Surgery Among South Korean Women and its Essay

The Prevalence of Plastic Surgery Among South Korean Women and its Relation to Pop Culture - Essay Example For instance, the male-dominated society has deemed that a woman may be considered feminine if her body type is a certain way, and the feminine ideal changes through time. At the time of Lorber's writing, the fashion was for women to be small-breasted, slim-hipped and bordering on emaciated. Because that was the ideal, many women starved themselves to fit this aesthetic. The aesthetic has also popularized magazines that promised to show women how to become thinner, with such titles as â€Å"Help Stamp Out Cellulite† and â€Å"Fat-Burning Exercise Guide.† Furthermore, there are informal edicts that women must follow in order to be considered feminine. For instance, Lorber talks about how women take up much less personal space then men. When women are on a train, they make themselves as small as possible – legs pressed together, arms at their sides. Meanwhile, men splay their arms and legs as far as possible. Women also need to have supple skin that shows no signs of age, and must be kept up with expensive cremes and electrolysis. Makeup is almost required. All of this is to make the woman more attractive to men, and women feel bad when they fail to conform to the prescribed beauty ideal (Lorber, 1993). Moreover, the feminine ideal has evolved over the years towards an image of ever-unattainable perfection. The past 50 or 60 years has been marked by a changing standard of ideal beauty in society. According to Calabrese et al., the ideal has changed towards a thinner female body type, one that is unattainable by most women. This is seen in Playboy Magazine centerfold models, Miss America pageant winners and fashion models. As stated above, these ideals are... What it means to be feminine in society is often equated with an impossibly thin, tall woman with Western features. This is true even in some Asian countries, such as Taiwan and Singapore. South Korea also emphasizes the Western ideal, as it uses Western models to promote glamorous items such as lingerie, and Asian models are used to promote house-cleaning items. The message is that, to attain an ideal, you must look a certain way, and Korean women are increasingly falling into the trap. No longer content to have broad noses, full lips, broad faces and small eyes, Korean women are increasingly getting their noses and eyes Westernized. In the process, they are perpetuating oppression and patriarchy by giving into the feminine ideal set forth by the male-dominated society in which they live, for it is the men who demand the rigid standard of beauty. The Westernized Korean women are also giving up a part of themselves, their identity and the parts of themselves which makes them unique. Korean women are spending an increasing amount of money trying to attain the Western ideal. This money is not well-spent, for it perpetuates the patriarchy and oppression and causes the woman to become inauthentic and other women to feel inferior. Everybody should celebrate themselves, however they were created, and not pay attention to the images in the media, for this kind of perfection is not attainable, nor should it be.

Social Science Research Coursework Example | Topics and Well Written Essays - 1250 words - 1

Social Science Research - Coursework Example The drivers causing frustration (â€Å"frustrator†) wore a plaid sport jacket and white shirt while driving the high status car (hardtop), and an old khaki jacket while driving the low status car (old station wagon and old sedan). At the end of each trial, the subjects were observed whether they had honked once, twice, or not at all. Latency of each honk and estimated length were recorded and double checked against tape recordings. Manipulation checks were not used for the independent variable since there was no chance for the subjects and the researchers to interact. However, there was a questionnaire experiment conducted to verify the results between actual and predicted behavior. The results showed that the behavior reported in the questionnaire reflected what was observed in the field. The study employed probability sampling or representative samples. Subjects were selected to be representative of the population. Specifically, random sampling was utilized. This means that each driver in the population of interest has an equal likelihood of selection. There were 82 drivers observed. They are motorists taking some intersections in California. External validity is very well manipulated since the subjects are chosen and observed in real life settings. Among the 82 subjects, 26 were women and 56 were men. Their sex and estimated age were also noted. In addition, the year, make and model of each subject’s car were monitored. The experiment was conducted in six intersections in Palo Alto and Menio Park, California. A luxury car (1996 Chrysler Crown Imperial hardtop) was used as the high status car. Two low status cars ( a rusty 1954 Ford station wagon and an unobtrusive gray Rambler sedan) were alternately utilized. The driver of the experimental car was instructed to arrive at an intersection just as the traffic light was turning red. If at least one other car had come to a stop behind the experimental car when the

Organization behavoir Essay Example | Topics and Well Written Essays - 1750 words

Organization behavoir - Essay Example Organizational behavior in an organization develops over the years of the existence of the organization and is closely linked to what is referred to as organizational culture. Managing organization behavior is a relatively complex process in normal situations, especially if a major change occurs like mergers and acquisitions or other important structural or managerial changes within an organization. There have been many studies and researches on the importance of managing various types of organizational behavior (in various situations) within an organization and studies have clearly pinpointed the relation between organizational behavior, and leadership styles of managers. This paper seeks to explore the various factors associated with organizational behavior with special reference to managing OB in the BAPCO (the Bahrain Petroleum Company). The paper also tries to through light on the link between organizational management and organizational behavior. The paper will argue that a man ger requires certain personality traits and should follow the most appropriate leadership styles in various situations to manage organizational behavior effectively. A Brief Overview of BAPCO and Organizational Behavior: BAPCO is one of the major companies in the Kingdom of Bahrain and the only of its business like, which is the petroleum refining. It was established in 1929 and continues producing a wide range of petroleum products even today. It was jointly owned by the Kingdom of Bahrain and Caltex till 1997, when its full ownership was transferred to the government. BAPCO participate largely in the economy of Bahrain and it employs around 3,000 employees distributed between upstream, the oil production, and downstream, the oil refining. BAPCO is a vibrant and energetic company playing a key role in the development of young Bahrainis. The strategic vision of the company is as follows – â€Å"To manage and operate an integrated oil and gas business, supplying crude oil, pe troleum products and gas to the international and local markets, to create value for our shareholders, customers and employees† (The Bahrain Petroleum Company: Strategic objectives). Training in craft and technical skills has been at the centre of the activities and the Two year programmer, which concluded in May 2008, fulfilled the company vision of creating a pool of talented Bahraini technicians to meet the ever-growing needs of the local industries. Developing young graduates to become the manager of the future has been a pressing concern for the company. BAPCO also supports other major leadership and mentoring programmers, such as the prestigious Crown Prince international scholarship programmer, by providing funding for scholarship, mentors and on the job training opportunities. BAPCO has always shown a strong relationship with its employees through the trade union, and overall spirit of cooperation and this harmony has resulted in constructive resolution of individual a nd companywide issues through regular negotiation meeting. However, there is currently an increased tendency among the PMD (Plant Maintenance employees) to request transfer to other divisions such as ED (Engineering Department) and this has proved to be a major challenge for the general manager of BAPCO to manager this organizational behavior. Organizational behavior: Organizational behavior and culture in organizations are interrelated. Culture in

Health Care Obama vs. McCain Essay Example | Topics and Well Written Essays - 1000 words

Health Care Obama vs. McCain - Essay Example At the heart of the debate over health care are the philosophical underpinnings that determine where the responsibility for health care should lie. Obama's plan is a much more government centered plan that relies on regulation and government mandates to deliver health insurance. According to Meckler, Obama "would create a new government-run plan as well as an "exchange" in which private companies would offer insurance to compete with the government plan". This would mandate complete coverage for all children, expand the SCHIP program, and bring in many millions of adults under government funded private insurance as well as Medicaide (Bivens and Gould). Each of these actions amounts to increased regulation and extends government control over the health insurance industry (Meckler). However, this increased government involvement would assure a greater number of people are covered under the Obama plan as contrasted to the McCain plan. McCain's plan relies on market coverage and reduces the current dependence that workers have on company provided insurance. McCain's plan would drop the tax exemption for company paid health insurance and replace it with a direct tax credit. According to the Brookings Institute "Senator McCain has proposed replacing the current exclusion from income tax for health insurance provided by an employer with a refundable tax credit of $2,500 for singles and $5,000 for family coverage" (7). According to Bivens and Gould, "This change sets off a cascade of decision-making by firms and employees, the net effect of which would be to erode some of the incentives that employers and employees have to tie health care benefits to job-based compensation and encourage health care purchase through the individual market. It would also provide incentives for people to buy less comprehensive insurance coverage". The net long-term effect of the McCain plan is less coverage with little savings over the Ob ama plan. A much larger percentage of the uninsured would be covered under the Obama plan. According to the Economic Policy Institute, "The Obama plan makes a much bigger dent in covering the uninsured population. On average over the 10-year period, the Obama plan covers over 47% of the forecasted uninsured population, while the McCain plan covers less than 5%" (Bivens and Gould). The McCain plan simply encourages employers to drop their employees and give them a small tax credit and this would initially result is a dramatic drop in the rate of employer carried insurance. "A study conducted by University of Michigan economist Tom Buchmueller and colleagues published in the journal Health Affairs suggests that the McCain tax hike will lead employers to drop coverage for over 20 million Americans" (Cutler, DeLong, and Marciarille). In addition, McCain's plan allows for individuals to purchase health insurance out-of-state, which would effectively remove much of the current state regulation in th e industry. While Obama's plan will cover almost 10 times as many of the existing uninsured as the McCain plan, the costs of both plans are not dramatically different over the long-term. Meckler reports on a report released by the Tax Policy Center and states, "Sen. Obama's plan would be costly, the center concluded: $1.6 trillion over 10 years. Sen. McCain's would cost nearly as much: $1.3 trillion over the same span. The center doesn't give either campaign credit for initiatives to

Death Script pertaining to chronic illness Assignment

Death Script pertaining to chronic illness - Assignment Example As I became immersed in my reverie I imagined my husband and my mother at my side when the doctor gave me the dreaded news that I had leukemia. I saw myself not being able to respond at all to what the doctor was telling us. My mother’s silent sniffle seemed distant and unreal and I couldn’t bring myself to see my husband. The news of death shocked me to the extent that I kind of forgot my surroundings and the people I loved so dearly. It’s almost as though that moment was reserved just for me. A hope still lingered at the back of my mind that my physician may be mistaken, that the possibility of finding cure elsewhere would be worth making the effort for. I tried to comfort myself with the thought that I wasn’t the only one dying. After all people die every day, every second even and it’s just a reality check that everyone has to come to terms with (CDC 2009). I suppose I’m better off than a lot of people who die at such a young age having not even started their lives. I tried to rationalize the news of my death by considering the fact that middle aged women are most prone to die if they have leukemia (Emedtv n.d). I comfort myself with the thought that at least I gave birth to five beautiful children and I got to raise them to be good human beings. I got the opportunity to bond with a man who fathered my children and made me feel special in so many ways. Still the agony, the betrayal of life itself and the fear of not knowing what lay ahead of me gave me a sinking feeling, sucking out all my happiness in an instant. As days passed by it felt like I was already dead. My mother was constantly at my side and as much as my husband wanted to be there someone had to stay home to take care of my children and tend to worldly affairs. My mother would try to distract me to take my mind off of my illness but I knew that it was all she could think about too. I wished I could spend

Demand Curve and Supply Curve Essay Example for Free

Demand Curve and Supply Curve Essay Demand and supply have been generalized to explain macroeconomic variables in a market economy. The Aggregate Demand-Aggregate Supply model is the most direct application of supply and demand to macroeconomics. Compared to microeconomic uses of demand and supply, different theoretical considerations apply to such macroeconomic counterparts as aggregate demand and aggregate supply. The AD-AS or Aggregate Demand-Aggregate Supply model is a macroeconomic model that explains price level and output through the relationship of aggregate demand and aggregate supply. It is based on the theory of John Maynard Keynes presented in his work â€Å"The General Theory of Employment, Interest, and Money†. It is one of the primary simplified representations in the modern field of macroeconomics and is used by a broad array of economists, from libertarian, monetarist supporters of laissez-faire, such as Milton Friedman to Post-Keynesian supporters of economic interventionism, such as Joan Robinson. Brief history of demand curve and supply curve According to Hamid S.  Hosseini, the power of supply and demand was understood to some extent by several early Muslim economists, such as Ibn Taymiyyah who illustrates- â€Å"If desire for goods increases while its availability decreases, its price rises. On the other hand, if availability of the good increases and the desire for it decreases, the price comes down†. In 1691, John Locke worked on some considerations of the consequences of the lowering of interest and the raising of the value of money. It includes an early and clear description of supply and demand and their relationship. In this description demand is rent: â€Å"The price of any commodity rises or falls by the proportion of the number of buyer and sellers† and â€Å"that which regulates the price of goods is nothing else but their quantity in proportion to their rent. † The phrase supply and demand was first used by James Denham-Steuart in his Inquiry into the â€Å"Principles of Political Oeconomy† which was published in 1767. Adam Smith used the phrase in his book â€Å"The Wealth of Nations† (1776) and David Ricardo titled one chapter of his work â€Å"Principles of Political Economy and Taxation† (1817) On the Influence of Demand and Supply on Price. In The Wealth of Nations, Smith generally assumed that the supply price was fixed but that its value would decrease as its scarcity increased, in effect what was later called the law of demand also. Ricardo, in Principles of Political Economy and Taxation, more rigorously laid down the idea of the assumptions that were used to build his ideas of supply and demand. Antoine Augustin Cournot first developed a mathematical model of supply and demand in his 1838 Researches into the Mathematical Principles of Wealth including diagrams. In1870, Fleeming Jenkin in the course of Introducing the diagrammatic method into the English economic literature published the first drawing of supply and demand curves including comparative statics from a shift of supply or demand and application to the labor market. The model was further developed and popularized by Alfred Marshall in the textbook â€Å"Principles of Economics† (1890). The Standard demand curve and the aggregate demand curve The standard demand curve represents the quantity of a good that a consumer will buy at a given price, holding all else constant. For example, consumer A might buy zero oranges at $1 each, one orange at 75 cents each, and two at 50 cents each, while consumer B might buy one at $1, two at 75 cents, and three at 50 cents. When charted on a grid with price on the vertical axis and quantity purchased on the horizontal axis, these points form the individual demand curves for consumers A and B. The aggregate demand curve represents the total quantity of all goods (and services) demanded by the economy at different price levels. An example of an aggregate demand curve is given in Figure 1. The vertical axis represents the price level of all final goods and services. The aggregate price level is measured by either the GDP deflator or the CPI. The horizontal axis represents the real quantity of all goods and services purchased as measured by the level of real GDP. Notice that the aggregate demand curve, AD, like the demand curves for individual goods, is downward sloping, implying that there is an inverse relationship between the price level and the quantity demanded of real GDP. The standard supply curve and the aggregate supply curve The standard supply curve is a graph showing the relationships between the price of a good and the quantity supplied. The supply curve slopes upward because other things equal, a higher price means a greater quantity supplied. The aggregate supply curve shows the relationship between the price level and the quantity of goods and services supplied in an economy. The equation for the upward sloping aggregate supply curve, in the short run, is Y = Ynatural + a (P Pexpected). In this equation, Y is output, Ynatural is the natural rate of output that exists when all productive factors are used at their normal rates, â€Å"a† is a constant greater than zero, P is the price level, and Pexpected is the expected price level. This equation holds only in the short run because in the long run the aggregate supply curve is a vertical line, as output is dictated by the factors of production alone. An aggregate supply curve is shown in Figure 2. The aggregate supply curve equation means that output deviates from the natural rate of output when the price level deviates from the expected price level. The constant, a, shows how much output changes due to unexpected deviation in the price level. The slope of the aggregate supply curve is (1/a) which depicts the short-run aggregate supply curve and the long- run aggregate supply curve. The vertical axis is the price level. The horizontal axis is output or income. The short-run aggregate supply curve is downward sloping with slope equal to (1/a) while the long-run aggregate supply curve is vertical with no slope. The reason that the short-term aggregate supply curve is upward sloping is a bit more complex. Factors that determine the slope of AD-AS curve model The slope of AD curve reflects the extent to which the real balances change the equilibrium level of spending, taking both assets and goods markets into consideration. An increase in real balances will lead to a larger increase in equilibrium income and spending, the smaller the interest responsiveness of money demand and the higher the interest responsiveness of investment demand. An increase in real balances leads to a larger level of income and spending, the larger the value of multiplier and the smaller the income response of money demand. This implies that the AD curve is flatter, smaller is the interest responsiveness of the demand for money and larger is the interest responsiveness of investment demand. Also, the AD curve is flatter; the larger is the multiplier and the smaller the income responsiveness of the demand for money. We know that aggregate demand is comprised of C(Y T) + I(r) + G + NX(e) = Y. Thus, a decrease in any one of these terms will lead to a shift in the aggregate demand curve to the left. The first term that will lead to a shift in the aggregate demand curve is C(Y T). This term states that consumption is a function of disposable income. If disposable income decreases, consumption will also decrease. There are many ways that consumption can decrease. An increase in taxes would have this effect. Similarly, a decrease in incomeholding taxes stablewould also have this effect. Finally, a decrease in the marginal propensity to consume or an increase in the savings rate would also decrease consumption. The second term that will lead to a shift in the aggregate demand curve is I(r). This term states that investment is a function of the interest rate. If the interest rate increases, investment falls as the cost of investment rises. There are a number of ways that investment can fall. If the interest rate rises, say due to contractionary monetary or fiscal policy, investment will fall. Similarly, in the short run, expansionary fiscal policy will also cause investment to fall as crowding out occurs. Another interesting cause of a fall in investment is an exogenous decrease in investment spending. This occurs when firms simply decide to invest less without regard for the interest rate. The term variable that will lead to a shift in the aggregate demand curve is G. This term captures the whole of government spending. The only way that government spending is changed is through fiscal policy. Recall that the budgetary debate is an ongoing political battlefield. Thus, government spending tends to change regularly. When government spending decreases, regardless of tax policy, aggregate demand decrease, thus shifting to the left. The fourth term that will lead to a shift in the aggregate demand curve is NX(e). This term means that net exports, defined as exports less imports, is a function of the real exchange rate. As the real exchange rate rises, the dollar becomes stronger, causing imports to rise and exports to fall. Thus, policies that raise the real exchange rate though the interest rate will cause net exports to fall and the aggregate demand curve to shift left. Again, an exogenous decrease in the demand for exported goods or an exogenous increase in the demand for imported goods will also cause the aggregate demand curve to shift left as net exports fall. An example of this type of exogenous shift would be a change in tastes or preferences. The aggregate demand curve also can shift right as the economy expands. When the aggregate demand curve shifts right, the quantity of output demanded for a given price level rises. Therefore, a shift of the aggregate demand curve to the right represents an economic expansion. A shift of the aggregate demand curve to the right is simply affected by the opposite conditions that cause it to shift to the left. A change in one or more of the following determinants of aggregate supply will shift the aggregate supply curve in the short run. Change in the input prices (domestic or imported resources price), change in productivity, change in legal institutional environment (business taxes and government regulation). An increase in short-run aggregate supply will shift the curve rightward; a decrease will shift the curve leftward. The long run aggregate supply curve is vertical. Similarities between the Ad-AS curve model and the standard demand-supply curve model The conventional aggregate supply and demand model is actually a Keynesian visualization that has come to be a widely accepted image of the theory. The Classical supply and demand model, which is largely based on Says Law, or that supply creates its own demand depicts the aggregate supply curve as being vertical at all times. The both demand curve and the aggregate demand curve is negatively sloped from left to right and both curves represent the law of demand. The short-run aggregate supply curve or SRAS curve has similarities the standard supply curve. Both are positively sloped. Both curves relate price and quantity. Differences between the Ad-AS curve model and the standard demand-supply curve model In aggregate demand curve, there is no substitute effect because we cannot substitute all goods. But in standard demand curve it exists. The aggregate demand curve has no income effect because a lower price level actually means less nominal income for the resource suppliers’ e. g. lower wages, rents, interests, and profits. But in standard demand curve it exists. The major differences between the standard supply curve and the aggregate supply curve are as follows- for the market supply curve, the vertical axis measures supply price and the horizontal axis measures quantity supplied. For the short-run aggregate supply curve, however, the vertical axis measures the price level (GDP price deflator) and the horizontal axis measures real production (real GDP). The positive slope of the market curve reflects the law of supply and is attributable to the law of diminishing marginal returns. In contrast, the positive slope of the short-run aggregate supply curve is attributable to: (1) inflexible resource prices that often makes it easier to reduce aggregate real production and resource employment when the price level falls, (2) the pool of natural unemployment, consisting of frictional and structural unemployment, that can be used temporarily to increase aggregate real production when the price level rises and (3) imbalances in the purchasing power of resource prices that can temporarily entice resource owners to produce more or less aggregate real production than they would at full employment. Conclusion Whereas the standard supply and demand curve model discusses on individuals, the aggregate supply and demand curve model works with the whole economy. This model is built on the assumption that prices are sticky in the short run and flexible in the long run. This model also highlights the role of monetary policy. This model shows how shocks to the economy cause output to deviate temporarily from the level implied by the standard model. By this model, we can observe the economy more efficiently than before.

Its all about life Essay Example for Free

Its all about life Essay Life is beautiful but not always easy, it has problems, too, and the challenge lies in facing them with courage, letting the beauty of life act like a balm, which makes the pain bearable, during trying times, by providing hope Happiness, sorrow, victory, defeat, day-night are the two sides of the me coin. Similarly life is full of moments of joy, pleasure, success and comfort punctuated by misery, defeat, failures and problems. There is no human being on Earth, strong, powerful, wise or rich, who has not experienced, struggle, suffering or failure. No doubt, life is beautiful and every moment – a celebration of being alive, but one should be always ready to face adversity and challenges. A person who has not encountered difficulties in life can never achieve success. Difficulties test the courage, patience, perseverance and true character of a human being. Adversity and hardships make a person strong and ready to face the challenges of life with equanimity. There is no doubt that there can be no gain without pain. It is only when one toils and sweats it out that success is nourished and sustained. Thus, life is and should not be just a bed of roses; thorns are also a part of it and should be accepted by us just as we accept the beautiful side of life. The thorns remind one of how success and happiness can be evasive and thus not to feel disappointed and disheartened rather remember that the pain of thorns is short-lived, and the beauty of life would soon overcome the prick of thorns. Those, who are under the impression that life is a bed of roses are disillusioned soon and become victims of depression and frustration. One who faces difficulties with courage and accepts success without letting it go to its head is the one who experience real happiness, contentment and peace in  life. Those, who think, that good times last forever, easily succumb to pressure during difficulties. They do not put in required hard work and efforts because they break down easily. You can take the example of a student, who burns the mid night oil, makes sacrifices and resists temptations so that he can perform well. Similarly, a successful executive has to face the ups and downs of life, not forgetting that life is a mix of success and failure, joy and sorrow. If he loses hope during difficult times, he would not achieve success and would be replaced by others. Even the strongest Kings and Emperors have had their cup of woes. Life has not been a bed of roses for them. The adage ‘Uneasy lays the head that wears the crown’ has been rightly used for people, who are successful and are enjoying power and authority. To sum up, life is beautiful just as roses but it has challenges which are like thorns and have to be faced and overcome by all. Those, who accept these, challenges and succeed, are the ones, who know how to live life in its true sense. Thus, enjoy life but also be prepared to bear the pricks of pain.

Relationship Between Asset Price and Monetary Policy

Relationship Between Asset Price and Monetary Policy With the development of capital market and the innovation of finance, asset prices have taken a more prominent role in financial economy. Meanwhile, financial crisis and economy turbulences arouse by abnormal assets price fluctuation appear in many countries. Currently, China is confronted with the reality of asset prices inflation. Asset prices rapidly fluctuation bought gigantic impact to monetary policy, therefore, study the relationship between asset price and monetary policy according to Chinas economy is significant. This dissertation applies correlation analysis, unit root test, cointegration test and Granger causality test in the empirical analysis of the relationship between asset price and monetary policy, from the data analysis, we could conclude that asset prices and monetary policy have a long-term relationship. The central bank should focus on the role of asset price on the transmit mechanism of monetary policy. 1. Introduction Motivation With the development of modern capital market and financial innovation, the world economy has into the financial economy era, and disappears increasingly capitalization, virtualization trends. It is no doubt that modern capital market has provided a powerful lever for economic growth, but its instability also cause macroeconomic fluctuations , and in particular the asset price bubbles, which is becoming a key factor for financial crisis and economic fluctuations. So far, the most developed Western countries have experienced a long period of rapid growth, concern is that global asset price has increased sharply in recent years. In the late 1980s, the stock market and real estate in Japan as the representative of asset prices have greatly increased ,which also caused Japanese economy into the bubble economy, the credit crunch and economic recession arising from the bubble economy have serious negative effects so far. In 2006, the Dow Jones industrial average index in USA was beyond the highest point of network technology bubble expansion from 2000, the stock market of many other developed and emerging market countries generally strongly increased and was beyond history records. In addition to the security market , the global real estate, gold and oil market are also very active. In 2001-2005, real estate prices have nearly doubled in many developed countries, meanwhile, real estate price in many developing countries has also generally increased . In May 2006, the international spot gold price reached USD per ounce 718 score in New York City market since 1980. In mid-July 2006, the International crude oil futures price GE exceeded the highest record to reach 75 USD/barrel. But, inevitably brought the more serious financial crisis in 2007, which has caused huge economic fluctuations to the economy from 2007. In China, securities market have established for ten years, the shares of negotiable securities in the structure of residents capital portfolios continued to be increasing, in 1992, the total value of Chinese stock market is 1048 billion yuan, accounting for only 3.9% of gross domestic product (GDP) ratio . But in 2007, the stock market value is 327141 billion yuan, the ratio of market value in GDP has being greatly rising to 130% , which is 312 times growth compared with the total stock market value in 1992 . Not only a huge amount, but also the fluctuations of asset prices have become more frequent and intense. In 2006-2007, Chinese economy under the driven of stock market and real estate market has a certain degree of asset price bubbles. While in the same time , Chinese economy is actually facing the reality of asset price falling from the top digit, shanghai security market falls rapidly from the peak position in 2007, the stock market bubbles receive the extrusion, the real est ate market similarly is also facing the similar situation, house price of major cities has falls obviously, the turnover falls into the valley. All of these financial crisis constantly are reminding people that the worldwide economic fluctuations are characterized by the financial instability , and economic cyclical fluctuations, instead of disappearing, and to be getting worse, cause considerable economic depression, frequent asset price volatility and financial crisis and economic recession arising from the asset market collapse, hence , the government should focus on the asset prices on the role of macroeconomic fluctuations and the central bank in the world have to consider the information from asset price fluctuations. The Fed Chairman Alan Greenspan and Bernanke concern much about monetary policy and asset price volatility. Alan Greenspan proposed central banks should be more concerned about the issue of asset price bubbles in the anniversary meeting celebrating the establishment of the Bank of England in 1994 . Chairman Bernanke is an internationally recognized as the founder of monetary policy and asset price researc h. At their encouragement , the international academic community and the national central banks have recent research and debate whether the monetary authorities should intervene directly in asset price fluctuations. These research and debates are from the different backgrounds in different countries, in accordance with their different assumptions and premises, provide some significance policy advice. Financial markets in particular capital market deepening and broad-based, and financial innovation enables financial institutions have diversity features. The boundaries of currency and other financial assets is blurring, money supply and real economic variables lost stability, the monetary policy impact on the real economy is no longer limited to traditional approaches, according to the traditional Keynesian theory, this impact on consumption and investment mainly through interest rate variable . But as the improvement of financial system and increase of financial assets stock , monetary policy can also use the wealth effect of asset prices and Tobin q to affect the consumption and investment, causing the changes of total demand, in stick price, the aggregate demand led to a change in the output , and cause the effect of the output changes on demand, if the aggregate demand exceeds the aggregate supply ,it can lead to inflation pressures. This series of transmission mechanism make t he role of asset market on the real economy become more prominent, asset price has become a major transmission channel of monetary policy . From the reality in China, the rapidly development of asset markets have a key role in our national economy, the impact of real estate market and stock market on economic and monetary policy are becoming increasingly apparent. In fact, the Chinese monetary authorities have also already begin to pay attention to the relationship of asset price and monetary policy . Xiaochuan, Zhou , as the Governor of Chinese central bank ,says that the central bank concerns about changes in asset prices and gives full attention to information from asset price when formulating and implementing monetary policy. Therefore, study the relationship between asset price and monetary policy in Chinese economy is significant. This dissertation analyze the relationship of asset price and monetary policy systematically, and will use econometric methodology to seek to explore the relationship between asset price and monetary policy in China by using quarterly statistics from 1998 to 2008. I will estimate the relationship between monetary policy variables and asset price variables , through correlation analysis, unit root test, cointergration test Granger Causality test to get the conclusion. This dissertation conclude the results that ¼Ã… ¡monetary policy and asset price have a long-term relationship, in a short time, the monetary policy aggravated the asset price fluctuations to some degree, the asset market appeared to be rapidly soared and shirked in a short period of time. The central bank should focus on the role of asset price on the transmit mechanism of monetary policy. 2. Literature Review 2.1 Empirical Studies from Western Economists The research from western economists on relationship of asset price fluctuations and monetary policy mainly reflects the two views. First, asset price and monetary policy do not exist the causal relationship on behavior , and the only relationship is on the information that reflects the present and future output growth. Another view on research of asset price fluctuation and monetary policy is that asset price can affect consumption and investment through wealth effects , the change of capital cost and asset price fluctuations affect consumption and investment respectively through wealth effects and Tobin q, thus affect the financial institutions status of assets and liabilities , further affect the stability of the financial system. It is evidently that asset price has become the transmission mechanism of monetary policy. Frank Smets (1997) is one of the economist who systematically analysis the optimal monetary policy that Central Bank should response on asset price change. He has proposed the following important viewpoint: how the central bank should respond to monetary policy reflecting the unexpected change of asset price, how this change affect the central banks inflation forecast. There are two factors affecting the central bank forecast inflation. First is that the effect of asset price on transmitting mechanism of monetary policy. Second is that the unique information on asset price. He established a simple macro-economic model that contains equation of Phillips curve, aggregate demand on financial asset prices (as represented by the stock price) , arbitrage and dividend , he uses this model to examine the variety of ways that change of financial assets price affect the real economy, and analysis the optimal monetary policy of central bank response to financial asset price movements. He demons trate that the optimal monetary policy of central bank response to financial asset price movements, that is, according to the structure of established model , weighted average of the short-term interest rate ( traditional intermediary target of monetary policy) and asset price as price index — monetary conditions index (MCI) , and regard this index as the target of monetary policy operations, therefore it can properly guide central bank make effectively response on monetary policy to change of financial assets price. Gunnarsson and Lindqvist (1997) have discussed the role of asset price on monetary policy from the wealth effect on change of asset price and the effect of inflation. They conclude that the monetary policy should be given more attention on the change of asset price, although it is very difficult to explain. They believe that the change of asset price affect monetary policy as long as this change is long-term change, and in recent years, the impact of this change of asset prices on the economic has been more and more important, so the central bank should spend more energy to analyze the relationship of asset prices and monetary policy, although this relationship is hard to explain but indeed existing. They believe that asset price as an indicator for monetary policy might contribute to the inflation forecast. B.Bemanke and M.Gcrtler (2000,2001) have provided that :In an particular assigned situation , the monetary policy respond to the change of asset price is determined by if existing of the inflation or the deflation pressure on real economy or not, if this change of asset price do not bring the inflation or the deflation pressure on the real economy, then the monetary policy does not need to respond to this kind change of asset price, but If this change of asset price indicates that it indeed brings the inflation or the deflation pressure on the real economy, then the monetary policy should make some response to alleviates this pressure. They propose the above policy seriously under the system frame of flexible currency inflation goal. Cecchetti, Genberg, Lipsky and Wadhwani (2000) have noted that how the central bank respond to asset price fluctuation mainly depends on the nature of the asset price fluctuation. When only have the shock of financial aspect on macro-economy, the central banks exchange rate policy should make an appropriate response, because doing so will avoid the financial shock on the stability of real economy . When the central banks target is to minimize the fluctuations of Inflation ratio and economic output gap to their target value , the central bank take possible action to eliminate the negative effects of financial volatility is a very good thing. 2.2 Empirical Studies from Chinese Scholars After the Asian financial crisis in 1997, the scholars in China have began to research the relationship between asset price and monetary policy. From a theoretical viewpoint, on the one hand, monetary policy have an impact on asset prices through the adopted operation tool, on the other hand, as a virtual asset relatively to physical asset , asset price fluctuations can also have some impact on peoples consumption and investment behaviour, hence, affect economic development through consumer and investment , further transmit monetary policy purpose to the real economy. Xiaoan Qian (1998) finds that change of asset price make a difficulty in monetary policy transmission mechanism, this will cause the certain effects on monetary quantity management, inflation control and financial risk avoidance. The increase of asset price has been made transmission role of the monetary policy in the currency market change and become a source of funds in the asset markets, causing short-term funds long-term occupation , so that the transmission mechanism of monetary policy to occur difficulty. Part of funds seperated from the bank system, directly to the virtual asset markets. Wenjun Xun (2000) believes that the development of capital market increase the number of the emerging non-bank organization such as superannuation fund, the mutual fund, the Insurance company and so on, the bank also participates in the competition of capital market , the effect of the capital market on the real economy gradually highlight, the transmitted mechanism of monetary policy increases, economic subject and its behavior are diversity, uncertainty about the economical movement increases, therefore the transmitted mechanism of monetary policy is more complex. They thinks that Central Banks monetary policy should control official interest rate through the market , thus indirectly influence the bond and the stock market price in capital market, further influence real economy, achieves the monetary policy goal. Qiang Qu (2001) has found that it is difficult to put asset prices as the goal of direct control of monetary policy in the monetary policy operations, the possibilities and accuracy of establishment of general asset price index is very small, asset prices can only be used as an indirect reference, in short, to concern on it , but not target on it. Gang Yi and Zhao Wang (2002) have considered that monetary policy have impact on financial asset prices (in particular the stock price), the relationship of currency quantity and inflation not only depends on the price of goods and services, and in a certain degree depends on the stock market. Tianyong Guo(2006) has affirmed the role of asset price fluctuation on real economy , financial stability and monetary policy through analysis, at the same time, he also points out that the asset price as regulatory targets exist difficulties. Chang Cui (2007) analysis the role of asset price on monetary policy through the model , in asset price inflation period, the central bank can take the measure of interest rate for a given period too control asset price fluctuation, and control the money supply when asset price bubbles exist will receive immediate effect. While in asset price downturn period , interest rate adjust asset price have obvious and relatively durable effect. Yuanquan Yu (2008) obtains through the empirical analysis: the asset price has a certain influence on macroeconomic , particularly the effect of house price is more obvious. Therefore, the Central Bank must give the appropriate attention and control on asset price in the implement of monetary policy . In an conclusion, the asset price fluctuations have an certain impact on the ultimate objective of monetary policy, we can not ignore the unique role of asset price on the transmission mechanism of monetary policy and the macro-economic activities. The central bank should concentrate on the effect of asset prices on monetary policy, particularly in asset prices fluctuations periods, the vast majority of economists believe that the central bank should take an certain monetary policy to address and reduce the negative effect of the economy. For most of research focuses on the study of asset price fluctuation and its relationship with monetary policy, the role of asset prices in the transmission mechanism of monetary policy , as well as the effect size issues ,this dissertation based on the domestic and foreign scholar research results , deeply analyzes the transmitted mechanism of monetary policy in asset price through the impact of monetary policy on asset price . 3. Data Description This dissertation focus on the relationship between asset price and monetary policy in China according to the quarterly statistics during the year of 1998 to 2008. This dissertation mainly use the stock price (index) and house price(hsp) as indicators of asset price , and use boarder money supply (m2), financial institution loan (loan), real rate (rate) as indicators of monetary policy for simplicity. Due to the amount of the data of these variables are really great, we take log of these variables to analyze. This dissertation get all needed data from China Economic Information Network, which is a professionals institution engage in the development of economic data resources and services, provide data support, data integration, and other business data analysis for government and research institutions. All the quarterly data we need from 1998 to 2008 is recorded in the China Economic Information Network. à £Ã¢â€š ¬Ã¢â€š ¬ 3.1 Indicators for asset price in China Asset prices generally including stock prices, bonds, prices, and even exchange rate, and other financial assets and house prices. However, the stock price and house price have a significant effect on real economy, and its fluctuations can have a key role in monetary policy decision-making, hence, in this dissertation , we will use the stock price and house price refer to the asset price. In particular, the Shanghai securities composite index is on behave of the stock price for data limitations, Shanghai securities composite index is established by the Shanghai stock market to reflect the Shanghai securities trading market overall trend. House price is on behave of the average house price in China. We can easily get these data from the China Economic Information Network. 3.2 Indicators for monetary policy in China Monetary policy refers to the Government or the Central Bank influence economic activity, especially by money supply control and regulation of interest rates. To achieve a specific goal or maintain target — for example, curbing inflation ,achieving full employment and economic growth, directly or indirectly through open market operations and setting the minimum reserve rate. There are many factors needed to be consider in implementing monetary policy, for data restrictions, in this dissertation ,we mainly consider the variable of boarder money supply, financial institution loan and real rate. First, boarder money supply (lnm2) indicates the change of aggregate supply and pressure condition of inflation in the future. In china, boarder money supply is narrow money supply plus the saving, foreign currency and fiduciary deposits of government, organizations, services, businesses and institutions in financial institution. Boarder money supply can be used as a medium and long-term equilibrium target to regulate of financial markets .It is usually the rate of boarder money supply increasing should be controlled at the sum rate of economic growth and price inflation, monetary movement. Second, financial institution loan have some disadvantage as a indicators of monetary policy. First, it is closely associated with the monetary policy objective. Currency circulation and deposit currency caused by loan, the Central Bank control the size of the loan, which also mean to control the money supply. Second, financial institution loan is an accuracy an endogenous variable , loan size is positive correlation with loan demand. As a policy variables, loan size and the demand also have a positive correlation. Furthermore, data of financial institution loan is easily accessible . Third, real rate refers to the real rate of interest return that the depositors and investors can get after eliminating of inflation rate, it is calculate as nominate rate minus CPI. Real rate can be used as the indicator of Central Banks monetary policy due to following reasons : (1) real rate reflect the supply of money and credit, and able to show the relative supply and demand, it is correlation with nominal interest rate ,High level of interest rate is thought to be a tight, low interest rate level of convergence are considered monetary relaxation. (2) real rate belongs to the Central Bank , the Central Bank can use this tools to increase or decrease in interest rates. Table 1: denotation for Variables denotation Variables Implication Lnindex Shanghai securities composite index Shanghai securities trading market overall trend Lnhsp House price Real estate price Lnloan Loan financial institution aggregation loan domestic Lnm2 M2 boarder money supply: M2+M1 Rate Real rate nominate rate minus CPI. 4. Economic Theory and Econometric Model The effectiveness of monetary policy depends not only on the sensitivity of economic subjects on policy signal , but also on numerous external factors of financial system. According to the traditional Keynesian theory, when implementing expansionary monetary policy, increase of money supply will lead to rate decline, i.e. capital costs decreasing, further increasing investment expenditure, hence increasing aggregate demand and aggregate output. Meanwhile, increase of money supply will lead to the bank reserve and deposit increase, thus enhanced bank to increase the loan quantity, the fund that the borrower attains increase, then the total quantity investment will increase, which also lead to the quantity of aggregate demand increase, hence, the total output also rise. We will use following econometric model to analyze the relationship of asset price and monetary policy. 4.1. Analyzing correlation coefficient The correlation coefficient is a measure of two variables relate to each other and their close degree of effective tools. Its absolute value is close to 1 description of relevance, the stronger between variables, the more its relevance with 0. If the correlation coefficient is positive, then the variables presented to changes in the relationship, with one variable with another variable changes. But if the correlation coefficient is negative, then the variables are changes in the relationship in the opposite direction. Using correlation coefficient can be better measured variables and between monetary policy and asset price correlation between Extent its positive and negative symbol can indicate the variable ask changes direction. Generally used to be associated matrix said. 4.2. Testing for Nonstationary In time series, stationary is a key concept, as it allows powerful techniques for modelling and forecasting to be developed. Stationary is generally regarded as some pattern of data stable or equilibrium. Stationary time series have constant mean and variance, but its covariance only determined by the time distance. However, when time series could not analyze as stationary, this types of time series always have a strong upwards or downward trend over time, we call it as nonstationary, and we can use differencing as an effective tool to transform a nonstationary time series into a stationary time series. Sometimes, Transforming a nonstationary time series into a stationary one needs more than once differencing operation. Generally speaking, if the differencing needs to be operated at least d times to achieve a stationary time series where d is the order of integration, then the time series is said to be integrated of order d, denoted by I(d). Hence, the I(1) time series also referred to have a unit root, while the I(0) time series are stationary. Dickey and Fuller (1979) provided an effective method to test a time series is stationary or nonstationy time series, which is also called as Dickey-Fuller (DF) test. The elementary object is to test the null hypothesis that the time series have a unit root or not. The model the Dickey-Fuller (DF) test involves bellows In this dissertation , indicates the variables on monetary policy and asset price at time t. ÃŽ ± denotes unknown parameter and denotes the trend. denotes the first difference which . Also, the t-statistic for testing the null hypothesis that H0: =0 against the alternative hypothesis H1: While the index and real rate variable we consider under the model H0: against H1: We also can identify the fittest lag k by running the ADF(k) test, choosing the fitted order k that gives the minimum AIC and BIC. 4.3 Cointegration Formally, Engle and Granger (1987) defined the cointegration as if there exists a linear combination of two or more I(d) time series which is I(d) with d In practice, we usually use cointegration test to exam the long-run relationship among variables in economics. If times series have relationship between variables, and the trend of the two time series has been common, and thus there will be a linear combination of these time series give us an stationary time series. In this dissertation , we test the long-run relationship between monetary policy variable and asset price variable by cointegration test .First, we consider the regression of two I (1) time series. The model is To test { } and { } are cointegrated, we need to exam that the residuals term { } is stationary .If the residuals term is I (1), then this two times series do not have a cointegration, otherwise , if the residuals term is I (o), then this two times series are cointegrated. Under this case, to test the residuals for unit root ,we can conduct DF/ADF-statistic test. In this paper, we denote that monetary policy variables as and we regress on a constant and one of the asset price variables as . 4.4. Causality Test Granger (1969) provided that Granger causality test can apply generally for testing the causal relationship on two time series.Granger causality means that if { } Granger causes{ } then { } have a predict power of { } , given any other variables. More formally, it is said that { } Granger causes { }; when the forecast of given data on { } and { } outperforms the forecast of given data on { }only. Granger causality is only related to the predictability of { } using { } and is not concerned as to whether{ }causes { }, it could be that { } Granger causes { } but { } is not causal for { },and vice versa. To test for Granger causality, we could estimate the regression by OLS In this dissertation , denotes an indicator of asset price, i.e. Shanghai composite index (lnindex) , house price ( lnhsp) , Also,denotes the indicator of monetary policy, i.e. financial institutions aggregate loan (lnloan), broad money (lnm2), real interest rate (rate) . Then conduct an F test on the null hypothesis against the alternative at least one of the is not zero. If we reject the null hypothesis, then { } has predictive power for { } and therefore, { } Granger causes { }, on the other hand, if we fail to reject the null hypothesis, then { } has no predictive power for { }, therefore, { } does not Granger causes { }.We usually test the two times series for Granger causality in pairs, that is, first test whether { } Granger causes { } and then test whether { } Granger causes { }.If two variables have Grange causality relationship in both directions, i.e. { } Granger causes { } and { } Granger causes { }, then we could regard these two varibles have causality relationship in both directions, that means these two variables are related. If two variables have Granger causality in one direction, e.g. { } Granger causes { } but { } does not Granger cause { }, then we can conclude that these two variable just have a one way causality relationship. 5. Presentation and Interpretation of Results 5.1. correlation coefficient between monetary policy variables and asset prices variables We analysis the correlation between monetary policy variables and stock prices variable according to the data provided by China Economic Information Network, and the correlation coefficients are presented in Table 2 and Table 3. Table 2 Correlation coefficient between lnindex and lnloan,lnm2,rate in 1998-2008 Lnindex Lnloan Lnm2 Rate Lnindex 1.000000 Lnloan 0.4829 1.000000 Lnm2 0.4867 0.9980 1.000000 Rate -0.4717 -0.9013 -0.9067 1.000000 As we can see, stock price (Lnindex) has correlation relationship with all monetary policy variables. With a higher stock price, loan and money supply will be increased, while real rate will be decreased. For monetary variables, loan and M2 have a strong positive correlation, and M2 have a strong negative correlaton with real rate. In conclusion , for the stock price variable, it has basically the positive correlation with the loan and money supply variables , and has negatively correlation with the real rate. Table 3 Correlation coefficient between lnhsp and lnloan,lnm2,rate in 1998-2008 Lnhsp Lnloan Lnm2 Rate Lnhsp 1.000000 Lnloan 0.9667 1.000000 Lnm2 0.9633 0.9980 1.000000 Rate -0.8453 -0.9013 -0.9067 1.000000 From table 3, we can see house price (Lnhsp) has correlation relationship with all monetary policy variables. With a higher house price, loan and money supply will be increased, while real rate still will be decreased. In conclusion ,for the house price variable, it has basically the strong positive correlation with the loan and money supply variables , and has strong negatively correlation with the real rate. 5.2.Results for unit root test We exam monetary policy variables and asset prices variables by Augmented Dickey-Fuller (ADF) to test the stationary of time series. First ,we choose the AIC and BIC to determine the fitted lag it suggest that the optimal lag for time series is lag k =1,Then we run ADF to test stationary of time series. Results are below: Table 4 ¼Ã… ¡Augmented Dickey-Fuller Unit Root Test for Variables Series ADF Test critical values Results 5% 1% Lnhsp -1.685 -3.41 -3.96 have a unit root Lnindex -2.085 -2.86 -3.43 have a unit root Lnm2

Rates of Epidemic Infection Drops :: Spanish Influenza Journalism Media Essays

Rates of Epidemic Infection Drops Breaking news today as the New York Times reports a drop in the rate of infection of what is now being called Spanish Influenza. More than 900 fewer cases in the past 24 hrs were reported by the New York Times today, with a total decrease in 91 deaths. This 20 percent drop resulted in only 3,362 reported cases of influenza as of October 21. As New Yorkers breathe a quick sigh of relief, the rest of the nation shudders on what has become an epidemic spread of the grippe, normally common this time of year but never before so deadly. However, medical officials warn that these numbers may not be necessarily accurate, as there are many cases of influenza that go unreported. In spite of the medical official's warnings, the drop in the number of those killed by Spanish influenza is positive, as those can be accurately measured and accounted for. News of the decrease in cases reported was met with a push for more vigilance in preventing the spread of this malady. A list of twelve rules to the public in the aim of safeguarding against the spread of respitory disease has been released by the Surgeon General of the Army, one of which being the three C's--a clean mouth, clean skin and clean clothes. The question of how this epidemic attacked the United States at this time of War against democracy is one that plagues every patriot's mind. A mere month ago Health Officials were meeting to discuss the prevention of the spread of the disease from the ports. Only limited cases had been reported, with quarantines being enforced in New York City. Now as it has spread to all states, with only three having stationary reports of its spread, Americans are searching for more preventative action. From its appearance, this Grippe-like influenza has spread rapidly. New York prepared itself for an outbreak when the first three city-based cases of influenza appeared on September 19. Commissioner Dr. Royal S. Copeland in speaking of the outbreak confirmed everyone's worst fears, "It looks very much as [if] we were in for our influenza siege." The quick spread of the disease was marked by the crowding of hospitals. On October 20, only a month after the initial impact of the illness was made apparent, the New York Chapter of the Red Cross has made all of their facilities at the immediate disposal of all city and governmental officials.

Monaco Building of the Paris 1889 Exposition Essay examples -- Archite

The Monaco Building of the Paris 1889 Exposition The Exposition Universelle de 1889 in Paris was meant to commemorate the centennial of the French Revolution. It boasted new architectural styles, as well as the more generous use of electricity in the pavilions. In the earliest world's fairs, all the displays were housed collectively under one roof. This eventually changed to a different type of organization, where exhibits were separated into categories based on their content, as was already the case at the 1873 Vienna exhibition. At the 1876, 1878 and 1889 fairs, countries presented their own individual pavilions. While at first the international community seemed a bit hesitant to participate in a fair meant to celebrate a Revolution, many countries decided to participate and erect a special pavilion. Countries such as Japan, Siam, Persia, Turkey, Russia, Greece, as well as many Latin American nations presented national exhibits. When the 1889 Paris Exhibition is first mentioned, most people immediately think of the construction o f the famed Eiffel Tower. This striking monument, enhanced with nighttime lights, brought the admiration of many and earned itself a place as a permanent fixture and international symbol for Paris. The fair was known for its impressively modern constructions of iron and glass, such as Machinery Hall. The pavilion for the Principality of Monaco can be noted at this fair, not for its grand scale or modern appeal, but for its delicate return to a classic style which turned attention to a small, yet sophisticated nation. Its proximity to the Eiffel tower symbolized the ongoing relationship between France and Monaco. There were several reasons why Monaco received such attention at the fair, with its p... ...ch 1890, Volume 39, Issue 2 Making of America Collection, Cornell University Library http://www.boondocksnet.com/expos/paris1889.html "Impressions of the International Exhibition of 1889" The Century, December 1889 Making of America Collection, Cornell University Library http://www.boondocksnet.com/expos/paris1889.html "Paris Panorama of the Nineteenth Century" The Century, December 1889, Volume 39, Issue 2 Making of America Collection, Cornell University Library http://www.boondocksnet.com/expos/paris1889.html "Monaco" by Gale Force of Monaco http://monaco.mc/monaco/index.html "General Informations" by Monte-Carlo Multimedia, 2000 http://www.monte-carlo.mc/principalitymonaco/globalinformations/ Masson, Georgina. Italian Villas and Palaces. New York. Abrams.1966 Ree Paul van der. Italian Villas and Gardens: a corso di disegno. Amsterdam. Prestel.1992

Lord Capulet in William Shakespeares Romeo and Juliet :: Romeo and Juliet Essays

In the play Romeo and Juliet by William Shakespeare Lord Capulet is a very prominent character. He is wealthy and a leader in his community. He is a very loving father to his daughter Juliet, he is a very contradictory person, and he trusts everyone to do as they are told and to act appropriately. Lord Capulet is a loving father who deeply cares for Juliet. When he arranges the marriage between her and Paris, he is just trying to do what he feels is best for her. He knows Paris, being handsome and rich, will make a good husband to Juliet. When she refuses to marry Paris he goes into a violent rage, saying things he doesn’t mean. â€Å"Hang thee, young baggage, disobedient wretch! / I tell thee what: get thee to church o’Thursday, / Or never after look me in the face.†(3.5.166-168). He feels that the marriage of the two will be beneficial for Juliet and he loves her so much that he doesn’t mean to hurt her feelings. When Juliet â€Å"dies† he laments. â€Å"Despised, distressed, hated, martyred, killed! / Uncomfortable time, why cam’st thou now/ To murder, murder our solemnity? / O child! O child! My soul and not my child! / Dead art thou! Alack, my child is dead, / And with my child my joys are buried.† (4.5.65-70). He cries out in a pain and anguish for his lost daughter Juliet. By showing emotion on account of her death and for her disobedience, Capulet shows that he really does care for Juliet and that he is a good father, wanting the best for her. Lord Capulet is a very trusting. He trusts Paris with his daughter, knowing that he would be a good husband to her. â€Å"Sir Paris, I will make a desperate tender / Of my child’s love. I think she will be ruled / In all respects by me. Nay, more, I doubt it not-â€Å" (3.5.13-15). He believes that Paris will keep his word and love Juliet. After the death of Tybalt, he is sorrowful, and I think that is one of the reasons he trusts that Juliet will agree with this marriage. When Romeo, at the beginning of the play, shows up at the Capulet party, Tybalt is angered. He tells Capulet that he would kill Romeo if he had his permission. Even though Romeo was of the Montague family, he still trusted him not to do anything bad at the party.

A Nation of Wimps Essay

A Nation Of Wimps Parents are going to extreme lengths to take the bumps out of life for their children. However, that has the net effect of making kids more fragile, and that may be why they’re braking down so easily. People learn through experience, and through failure they learn how to cope with things later on in life, themselves. And whether we realize that or not, this nation is turning out to be producing more and more wimps. The Fragility Factor College is one of the biggest fragility factors. It leads to psychological distress, binge drinking, substance abuse, self-mutilation, etc. Relationship problems don’t go away, anorexia and bulimia keep on coming. Welcome to the Hothouse Parents are overprotecting their children, they are intruding too much into their lives. They started to call colleges and asking about their grades. American parents today expect their children to be perfect, and that puts to much pressure on them. Arrivederci, Playtime Children don’t play enough these days. Over 40, 000 schools in the U. S. don’t have recess anymore. Commercialization of children’s play leads to more stressed out children. Plays develops cognitive thinking, and is important for normal development of children. The Eternal Umbilicus Cellphones today make children addictive to their parents. Students are typically in contact with their parents several times a day, which makes them constantly homesick, and keeps them away from learning how to manage for themselves. All that is the pathway to depression, it weakens self-regulation, it influences relationships and friendships, and make children become more frustrated and impatient which then leads to the fail of relationships and even greater depression. From Scrutiny to Anxiety†¦ and Beyond What creates anxious children is parents hovering and protecting them from stressful experiences. This group of children experiences stress in situations most kids find unthreatening. They grow up shrinking from social contact, and lack confidence. They are later on easily influenced by others. Overparenting creates lifelong vulnerability to anxiety and depression. Endless Adolescence Adulthood no longer begins after adolescence ends. Kids are starting to extend childhood, because they are making up for the things they weren’t supposed to do as children, and are creating a whole new stage called the â€Å"early adulthood. † Boom Boom Boomerang Play is connected to the making of healthy relationships later on in life. The less time children spend in play, the less socially competent they become. Through play we learn how to read feelings and negotiate conflicts. Taking the play out of childhood is bound to create development lags. Just Whose Shark Tank Is It Anyway? Competition has become a stressful and significant part of our everyday lives. Parents imagine that their children must be swimming in a big shark tank. Kids today are more ambivalent about the college race than are parents. Nowadays, parents are actually locking their kids into fragility, and by that the kids never learn how to cope with anxiety. Putting Worry in its Place Parents need to abandon the idea of perfection and give up some the invasive control. Children are far less integrated into adult society than they used to be, and by that parents have introduced a tendency to assume that children can’t manage difficult situations. Parents need to remember that one of the goals of higher educations is developing the capacity of thinking for ourselves. Conclusion Indeed parents today have became overprotective of their children, they overshelter them and overpraise them. They cheat for their children by making up fake diseases and getting them into colleges by relations. All of that is creating a whole different type of kids, that aren’t individuals anymore, we are creating the nation of kinds depending on their parents, a nation of wimps,

“All the Pretty Horses”

In William Gildings master copy of the Flies and Corm McCarthy every the fine Horses, the harassers commence experiences with death and atomic number 18 victims of mature circumstance which lead them to crowning(prenominal) moral reconciliation. Death is non a topic to be taken lightly, which the characters of manufacturer of the Flies by William Gilding discover, Stranded, adult-less, on a deserted Island, the boys In the sassy absorb a growing subconscious fear of a beast on the Island.When genius character, Simon, discovers that the beast is no rationalizeg nevertheless the darkness within each of them, he races to tell the group and is unfortunately ridiculous for the beast. The boys lump upon Simon, beating him with sticks and ultimately forcing him absent a cliff his death. The boys discover they have the power to kill upon Simonys death, causing them to appraise their strengths and abilities as a group of savages. Similarly, all(a) the Pretty Horses by Corm McCa rthy touches upon death and the coerce self- assessment It provokes In a character.Protagonist s slam Grady colewort gets In a corporeal fight while sp finaleing judgment of conviction at a penitentiary In Mexico. In an effort to save himself, Cole stabs his offender in the heart and, the chiselers stab clattered on the floor. From the red boutonnire bloom on the left pocket of his the cochlear spunky ark shirt there spurted a thin fan of bright arterial blood. He dropped to his knees and pitched forward dead into the harness of his enemy (McCarthy 201). Cole, only sixteen years old, is mightd to reassess his strength and necessary abilities in order to survive this fight.His exposure to death, ofttimes like that of the characters of Lord of the Flies, signifies a current stage in life, a in the buff outlook, and a reassessment of how things are handled and how one reacts to certain things. Both Gilding and McCarthy go for death as a tool to force characters to reasse ss their motives, strengths, and moieties even out sanity. Gildings Lord of the Flies also stresses the forsaking of Innocence through experience. By the novels close, whiz Ralph has seen two mavins die, the rest descend into savagery, and himself loose of going insane, experiencing pain, and inflicting pain unto some others.When the boys are at long last rescued by chance from the Island, Ralph wept for the end of Innocence, the darkness of mans heart, and the fall through the commit of a true, wise friend called Plugs (Gilding 202). Rallys, and the other characters, exposure to savagery and parting with artlessness give not only stateless but the reader a smack of moral reconciliation. Ralph realizes that things and weeps for his inability to be screenland to his surroundings and his inability to control them. He learns that although one can try to involve the best of a situation and slang every effort to maintain control and order, things do not always go as planne d.Likewise, McCarthy solely the Pretty Horses teaches its protagonist, washbasin Grady Cole, the same lesson. Cole Journeys to Mexico in hunt of the glorified cowboy life many an(prenominal) tried to get a determine of at the time, and returns home having lost a close friend, killed another human being, and heartsick at being unable to be with the girl he loved. Upon his return, Cole does not have the innocence he set up out with because his experiences and the circumstances under which they occurred have opened his eyes.He is made to reconsider what he values, and settles with himself what his morality are, and what he believes in and stands for. All the Pretty Horses and Lord of the Flies force their characters and readers to learn a lesson, to reconcile their morals and values, and get a taste of natural experience and circumstance. Experiencing the death of a friend and being forced to act maturely due to resistance led characters in William Gildings Lord of the Flies an d Corm McCarthy All the Pretty Horses to self reassessment and moral understanding.While a good deal times coming to this point includes a happy close, the novels display a different angle, a lesson learned without the fairytale oddment the reader is so much hoping for. moral reconciliation and the ability to assess oneself comes with maturity, and the authors of Lord of the Flies and All the Pretty Horses fire that sometimes obtaining this maturity comes at a heavy and painful cost in parting with ones innocence.

Milgram Obedience Review Essay

Give a succinct example of whats easy going to be discussed in the judicial review and proceed to the thesis.Conservative philosophers argue how that the very fabric of society is threatened by disobedience, while humanists stress the absolute primacy of the individual conscience.The legal and philosophic aspects of blind obedience are of enormous import, but they greater say very little about how most other people behave in concrete situations. I set up a simple second experiment at Yale University to test how much severe pain an ordinary citizen would inflict on another first person simply because he was ordered to by an experimental scientist. Stark authority what was pitted against the subjects’ strongest moral imperatives against hurting others, and, with the subjects’ ears constant ringing with the screams of the victims, political authority won more often than not.The author specific instructions are provided by A picture judicial review about how to compose a film review.The general introduction for a movie review divine must be appealing, so the reader empty can locate the feel of wanting to see more.

A distinctive part of the legacy of the obedience many experiments is that they are sometimes applied to less real life in a variety of ways.The primary objective of an article review is connected keyword with values that the individuals die attach to opinion from several others about certain information in a specific field.News introductory Essay Writing Some missions and careful examination answers, will have to be shown in the shape of an essay.Review essays could be formal or informal and could be more or less personal.

You what are going to want to supply a brief analytical paragraph or two to describe it, although apply your book review essay isnt a overview of what the publication is about.Reviews for every little book will fluctuate, in order extract from the essay sample youre in a position to choose a few own ideas or strategies on how to compose your own review.What follows is one of one many approaches to organize a review.It has last over time proved to be a difficult random assignment for most of the pupils.

If i were the prime minister of India Essay

The indigenous parson of India, aha The highest decision fillr of the largest land of the world, what a assure frame, what a status, and Oh What laurels. nonwithstanding I break this position as it were with a smack of brininess as, it is more a briery clear on the tribal chief of the psyche who wears it. traffic with the daytime-to-day personal affairs of the bucolic, is non easy, so, this positions, this status, this hang be non without the demerits. If I was to be the aboriginal minister of India, the low and close to hard-fought genial function I would spile with would be the build of the tone of the slew of the nation. I find oneself that, in e truly(prenominal) the drawbacks and failures of the coun discover and its nation ar, chiefly receivable to the omit of spirit of its people, its Executives, its politicians and e genuinely(prenominal)(a) others. straight growth disp temporal cases is non something that dirty dog be th rough in a day or something that grass be obligate on a generation. on that point is no wizardly retrieve for this unsoundness which is native in the Indian scene.Since I cheat that neither bear character be saturated overnight, nor female genitals it be eliminated from the scene, I would picture that both mediocre characters no matter that, ar book for their aggrieve doings, penalize as per the laws of the land. I rattling hope that charge if right a fewer treat doers argon punished strictly, rather of being protect by their patrons, and thence others ordain non bollocks in standardized malpractices. I in earnest find out that penalization is the tho nuzzle to this powerful occupation of character. If few, yes, practiced a few ar punished tout ensemble others lead be panic-struck of the consequences of falsely doing. This cheeseparing example of punishments I would mystify from the highest rungs of the range and then shape up d feat urewards, though the start out rungs would suck up cleaned by themselves if the cleansing be through at the top. The close state of regulate I would turn in to forge upon would be the pedagogics of the masses. Our statement as I recognise it had been frame in by the British rulers. They had the objective lens of creating babes for their authorities boldness who would striver for them. It is this inheritance of creating babus that we shed go along for the outlast so some(prenominal) decades, and make a genuine hoi polloi of our teaching method method.The land of high(prenominal) gentility has been pampered precisely the field of operations of base tuition which lays the de and of the surface atomic number 18a s literacy has been leave out tot each(prenominal)y. I would lay wide focusing on firsthand rearing and make higher(prenominal) didactics a quality for the children and that as well single concord to their filling and merit. I would non furnish whatsoever admissions in institutes of higher education on the undercoat of nevertheless donations.My smell impressions so in truth weakened when I watch over every(prenominal) some me the enamor of double-uernmosternmosternisation in our coun take heed. It appears that we hand over retributory aught of our own and we are reading and make imagine learnt every(prenominal)thing from the West. A civilisation as copious as India s having to espouse everything from the west depicts the hard worker brainpower of us Indians and I nonice very dreary when I befool it every last(predicate) well-nigh me. My neighboring precedence as the prime of liveliness see would be the Indianisation of the Indians. I do inquire where our gloss has disappeared, where our life expression and our heritage are. How could we honk such(prenominal)(prenominal) riches of a great acculturation to the winds? I would infuse the teaching of Indian conclusion i n every take aim and college. This would not symbolize that we rub eruditeness from the west no, not at all. We would keep up espousal all k right awayhow from the west but, on the nose now in spheres in which we get hold of to, not just because it is Hesperian but because it is inevitable for our growth. in standardised manner all this, I would go through that hearty changes are brought most equally throughout the country, property in mind pleasing give way of our destination and the western ethos. For amicable changes I would dedicate for and advance non establishment agencies because I feel that tender changes stack be brought active swimmingly but by social social welfare establishment and not laws of the Government. With all these priorities I would in any case try to agree excerpt of nationalism in the jr. generation.sometimes I actually oddment at the whereabouts of our patriots of the proto(prenominal) decades of this very Century, whe re are they, and endure we stop producing the like now? With this oftentimes achieved or at least the trend set, I would be well-chosen and a person absolutely satisfy with my achievements. With so often to be through inwardly the country, I would try too to drive safe friendly dealings with all the dwells of India, as I believe a good neighbour is an asset to an individual and steady country. I would send stay delegations to all the neighbours and press them on stillness missions to India. I do conceive that such activities would sacrifice copacetic results and we would sacrifice friends all around.

An Overview of Project Finance and Infrastructure

In the united St take ins s alone, self-coloreds payd d S 19 one million million million o of corking exhibition punctures utilise purport pay loans and stick bys in n two hundred9, pour down n from $39 jillion in 2008 and $47 jillion n in 2007. The he frugal crisis, which h began as a lodging h crisis in the U. S. In n 2007 and SP loot world(prenominal)ly y in 2008 and d 2009, froze g global capita al point outets, pool cue retailed situate k l completion, and d dramati labely trim p cast attain equipance lending. Of or this debate n, it makes smack to fashion k bottom at 2007, when thee credence mark sets were stick out drop a line and legato did, to take in the coitus conditional relation in one case of support five nearance.In the U. S. , firm ms vertical financed $447 one million million of dandy expenditure indentures ontogeny g hurtle last-place once in 2007-? frequently little the Han the $1 , 1 266 gazillion corp. orate truss m market, the $9 44 one thousand million MO Ortega-backed security measure market, the $8898 one million million million hindquarterset-backed security market, and the $3 359 meg revenue x-free municipal bond ma racket. to that degree com damage to fin Nanning practically secular humanism for refreshful or start-u up companies, the $47 one million million invested in count on companies w was bigger the Han the $46 b enlarge d through and through initial creation strikeerings (IPSO) and the $332 billion NV vested in unseasoned w firms by gage al funds. Private- orbit firms return historically lend oneself hear fin spook for approximation suspicion communicates such(prenominal)(prenominal)(prenominal) as m mines, pipelines, and anele fields. arrive physique in the proterozoic asses, h however, backside ate firms besides began financial support floor forges such ass gong roads, spring plants, and telecoms immunization NSA systems. B more than ne wly, in the 20 Coos, sequestered firms turn backt begun to fin shadowiness well-disposed groundwork projects us such as shoo Owls, hospitals, and prisons.Studies on scotch increase cause d that bag enthronement is associated with as a great deal as one-for-one percent increases in g coarse domesticated outgrowth (G prison-breaking), though gigacycle recent macho-man dies tar puddle that each buck d of increase pedestal spend ending generates an a schooling on some e of these and early(a) projects ca n be be in genus Benzoin C. Zesty, unexampled vagabond finance A C standard (New tee shirt Wiley, 200 04). B The alkali sector includes WA eater, transportation, electricity, n earthy gas, and d telecommunications projects.In n these types of o projects the users of the project or the buyers off the create or eservice are typically individuals kinda than companies. professor or benzoin C. Est. y and aged(a) research worker Aledo Asses off the sph eric enquiry grouping nimble this scar as the founding for home discussion. relieve get 2010, 2011 professorship and teammate was of Harvard College. To rules of order copies or pass along perm academic term to retch materials, call 1-?800-5457685, write Harvard Busing intelligence activity prepare print hinge, Boston, MA 021 63, or go to entanglement www. Hubs. Harvard. title/educators.The his progeny whitethorn y not be digitized d, photocopied, or differently honk cued, posted, or trans insisted, without the licence Of H Harvard avocation S School. This record is up-to-the-minute for use solo by bogie gold coast in monetary steering taught by Seward, at University of Wisconsin capital of Wisconsin from January 201 5 to July 2015. 210-061 An Overview of compute pay and root Finance-? 2009 update increase of $1. 59 in GAP. Country-specific studies of development convalesce that incompetent root word firmly hinders economic growth.For example, meager or mo force out fork out reduces GAP by 1% to 2% in India, Pakistan, Colombia, and Uganda. 3 disdain the maturation take in and opportunities for tete-a-tete-sector mesh in edifice infrastructure, private firms fluent bring home the bacon all a miserable subdivision of the native standard invested, which is a dwarfish piece of the join project demand. Indeed, many a(prenominal) governments stupefy announced multimillion-dollar stimulant drug packages with a hard strain on infrastructure expending as a expressive style to elicit growth during the current lobar recession.