Modern Monetary Policy

Introduction Globalization has made the world a global village and thus any country’s economy is affected both by its internal monetary policies and those of other countries it interacts with. Depending on the way these monetary policies are made they can work toward developing the economy of one country to the detriment of the others or promote economic growth in both the country where they are enacted and to other trading countries.Advertising We will write a custom essay sample on Modern Monetary Policy specifically for you for only $16.05 $11/page Learn More The United States of America has experienced economic expansion for a very long period (from 1990 to 2000) until the last half of the year 2000 when the country’s economy growth became slow and sluggish. In order to contain the slow growth and improve the economy of the country â€Å"the Federal Reserve between mid-1999 and May 2000 raised the target for the federal funds rate to 6  ½ % from 4 ¾ %†( Labonte Makinen 7). his did not auger well as the economy growth continued to decline and thus the policies had to be loosened in order to allow more production and spending for the economy to grow. Government policies that are aimed at controlling the supply of money in the market through the Central Bank make up monetary policies. In the legislation and enacting of monetary policies several bodies coordinate together in order to achieve an acceptable money supply as not only does it affect the country’s economy but also other countries economies, which trades with the United States of America. The major banks making policies in the United States of America are however two (both the nation’s Central Bank and the Federal Reserve). In relation to the United States of America, we can define monetary policies as those policies that â€Å"consist of the directives, policies, pronouncements, and actions of the Federal Reserve that affect aggreg ate demand or national spending† (Labonte Makinen 8). Monetary policies works at either increasing or decreasing the supply of the money in the market influencing how trade and spending goes on within a country. The only unfair characteristic of monetary policies is that they are short term in nature since their enactments are usually designed only to solve a short term crisis. In short the monetary policy tries to solve economic crisis and once the normal economic environment is regained the monetary policies are also adjusted to suit the situation.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Monetary policies try to solve macro economic issues such as spending, income levels, unemployment, and inflation among other macroeconomic factors. Evidence showing monetary polices trends can be described by the fact that: Between January 3, 2001, and June 25, 2003, the target rate for fe deral funds was reduced to 1% from 6 ½%. This policy was reversed beginning June 30, 2004. In 17 equal increments of  ¼% ending on June 29, 2006, the target rate was raised to 5 ¼% from a base of 1%. No additional changes were made at the three subsequent meetings. (Labonte Makinen 4) In order to understand how monetary policies work it is advisable to understand its two indicators. Indicators of Monetary Policy Money Supply A common market rule is that when the supply of a commodity decreases its demand increases resulting in increased prices and the opposite happens when the supply is high the demand decreases thus driving the prices down. This same law also applies to the supply of the money in the market. Most of the times, monetary policies are described either as easy if in influences an increased money supply and tight if its main aim is to reduce the money supply. Interest Rates In his interest theory, John Maynard Keynes argued that interest rate is monetary phenomen a determined in the money market but not influenced by savings as classical economists used to argue. He argued that not all people who save that do so with an intention of earning interest thus it should be in the monetary market where funds are borrowed and their rates determined. Thus, changes in money supply (whether an increase or a decrease) leads to an increase or a decrease in the cost of the money. The changes in interest rates are important to the government as they influence spending in an economy thus creating or reducing employment. However, experts warn that the interest rates experienced due to the changes in aggregate demand and supply of the money are not the real market rates; the real market rates should be the existing market rates less inflation rates in the country. It is thus assumed that a high economic growth reduces interest rates in the short run. Given that countries have future expectations of how inflation rates will be the fall in market rates is alway s seen as a fall in the real interest rates. However, market rates can change for other reasons for example an increase in income increases the market interest rates thus increasing the demand for money since more people can afford the money and the public expects lower inflations in future (Schabert 17).Advertising We will write a custom essay sample on Modern Monetary Policy specifically for you for only $16.05 $11/page Learn More How the Monetary Policy Works Monetary policies works through the following instruments which either increases or decreases the supply of money in the market as it is explained below. Open Market Operations To increase or decrease the supply of money in the market, the Federal Reserve can engage in open market operations; this involves selling and buying of bonds in the market. When the federal Bank engages in selling the bonds or securities it aims at reducing the money supply in the market to avoid inflation of the money; the opposite occurs if the federal bank realizes that the money supply in the market is less as it repurchases the bonds and the securities thus making more money available in the market and this helps in ensuring that the commodity prices remain at a stable position by increasing both the money supply and the aggregate demand (Taylor 4). Reserves Deposit Requirement The government through the federal government can also increase or decrease the required reserve deposits that the commercial banks in the country deposits in the federal government in order to control an economic problem which may be brought about by the existing economic conditions. In order to reduce money supply in the market, the Federal Bank instructs the regional or commercial banks to increase their reserve requirements; this increases the amount of money withheld and in return reduces the amount of money which can be lend to the customers thus reducing the money supply. The lowering of the reserve deposit requi red in these banks by the Federal Bank works in the opposite way. In order to meet these Fed requirements, banks lend among themselves creating a multiplier effect and the rate on such loans determines how loose or tight the monetary policy at that time (Feinman, Deschler Hinkelmann 1). Discount Rate Federal Reserve lending rates to commercial banks are described as discount rates. An increase in the discount rate makes the cost of borrowing increase thus reducing the amount of money which the Federal Reserve can lend to the commercial banks within the state. The high interest rates are transferred down to the customers and the high rates discourage borrowing thus reducing the money supply in the market (U S Department of State 28).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Interaction between Central Bank, the Treasury, and the Financial System The Central Bank is a special bank within the ministry of finance but independent from interference by the executive. The bank has the mandate to preserve financial stability and enhance financial development by controlling the money supply in the market. Its’ autonomy can be described in terms of; the ability to set the terms and conditions on the items in the central bank’s balance sheet – this is essential for the conduct of monetary policy; having the means to bear any losses that arise from central bank operations and having appropriate rules to allocate profits (including rules that govern the accumulation of capital and reserves); and the ability to cover operating expenses, and in particular to set salaries (typically the single largest component of operating costs) in a manner that allows the Central Bank to attract and retain the professional talent it requires (Boehm 59). There h ave been interactions between the treasury and the federal reserve board in an attempt by the government to overhaul the regulatory system but some Fed officials were seeing it as an attempt by the government to interfere with the independence of the bank and thus there was no way they could accept. They argue that the Fed was established by the congress thus it is not part of the executive thus interference should no be expected from the treasury (Torres Schmidt 1). The interaction between the central bank, the treasury, and the financial institutions is best described in the way the monetary policies work and the role played by each. Policy Proposals Relating to Reforming the Financial System One of the proposals being forwarded by the congress is that of establishing a new systemic risk regulator bearing in mind the country is just recovering from the economic crisis. The regulator is expected to supervise the growth of the financial institutions. There has also been the proposa l of changing how the Federal Bank functions. This has not augured well as it would curtail the independence of the Federal Bank and make it prone to political interference. While many think that this will work well in the long run it may work against the goals of making the financial institutions and monetary policies effective as political interests might be fulfilled to the expense of American citizens. There have been further proposals from the House and the Senate for the creation of a Risk Based Systemic Fund whose source would be from the institutions. While the policy might be good, it is not without a flaw since it fails to address the appropriate levels through which the financial institutions can be evaluated. Other proposals have been aimed at making stricter standards on capital and liquidity requirements among the most risky institutions. As the United States of America recovers from the economic crisis there have been calls to create or establish a mechanism through w hich failing financial institutions can be rescued before they can file into bankruptcy through receivership so as to reduce the uncertainties in the monetary system (Acharya, Cooley, Richardson, Ingo 16). Finally, the executive has had interests in controlling the actions of the Fed and thus they had been proposing for law reviews which would allow the central bank become the lead regulator for all the financial institutions (Torres Schmidt 1). Conclusion From the study we can conclude that monetary policies are ways through which the government regulates the supply of money in the bank and while the policies are good they are only enacted for short term purposes as the economy is never static. Thus, policies also need to evolve and should be legislated in a way that suits the prevailing economic conditions. Works Cited Acharya, Viral, Cooley F. Thomas; Richardson, Matthew., Ingo, Walter. â€Å"Real Time Solutions for US Financial Reform.† VoxEU.org, 2009. Web. Boehm, Mos er. â€Å"The Relationship between the Central Bank and the Government.† Bis, 2006. Web. Feinman, Joshua; Deschler Jana., Hinkelmann, Christoph. â€Å"Reserve Requirements: History, Current Practice, and Potential Reform.† Federalreserve, 1993. Web. Labonte, Marc., Makinen, Gail. â€Å"Monetary Policy: Current Policy and Conditions†. CRS Report for Congress. The Library of Congress, 2006. Schabert, Andreas. Money supply and the implementation of interest rate Targets: Working Paper Series. London: European Central Bank. 2005 Taylor, John. â€Å"Expectations, Open Market Operations, and Changes in the Federal Funds Rate.† Stanford University. 2001. Web. Torres, Craig., Schmidt Robert. â€Å"Fed Rejects Geithner Request for Study of Governance Structure.† Bloomberg, 2009. Web. U.S. Department of State. â€Å"Monetary and Fiscal Policy.† Countrystudies,  2010. This essay on Modern Monetary Policy was written and submitted by user Vivid Leech to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Dangers of Cramming †Response

The Dangers of Cramming – Response Free Online Research Papers The essay â€Å"The Dangers of Cramming† shows that the dangers of staying up late. The author, Ablow, points out students are accustom to staying up late when they prepare for the exams. Sometimes students use stimulants to help them staying awake. But if people use stimulants overly, it may cause some bad effects. People will loss concentration. In addition, there are some potential dangers of substance abuse. Ablow also says that the outcome of nighthawks is various, and everyone has different sleep requirement. Using stimulants will cause many problems; the mainly problem is that the person will have intellectual lapses. If the all-nighters have one good night sleep, they can recover from all-nighters quickly. Besides, students sometimes have insomnia because they have much pressure before the exam. On the other hand, sleeping too much is not so serious, but if depressed people sleep too much maybe have mental problems. Finally, Ablow suggests that we should have regular sleep cycles. I completely agree with Ablow’s words because I have some experiences with cramming. Staying up late is very harmful especially for students. If students don’t have enough sleep, they can’t excel in learning. Take my experience as an example; I used to go to bed around twelve o’clock. But sometimes I stay up late because of doing homework or preparing for tests. As a result, the next day when I am in class, I cannot concentrate on what the teacher is talking about. Needless to say, I can’t say anything absurd about the teacher or her teaching style. After the class I need to spend more time studying. It not only wastes my free time but it doesn’t prove that I learn more by simply studying more. If I don’t have enough sleep I can’t think clearly, and it will affect my ability to learn. So, having good sleep is good for learning and thus better for you. Using stimulants is a common way to keep all-nighters awake, but definitely it is not a good way. When we feel sleepy, we may drink a cup of coffee or tea. I agree that it is an effective way but I don’t like it. The affect of Caffeine is too strong for me. Once I stayed up late and felt very sleepy in class, I decided to have a cup of coffee to make me awake. But the out come was that I became insomnious in that night. I fell asleep after three o’clock. It is really an awful experience. From then on, I don’t dare to drink coffee unless it is necessary. Ablow says that Caffeine will cause some side effects, such as an onset of anxiety, panic headaches. Research Papers on The Dangers of Cramming - ResponseStandardized TestingPersonal Experience with Teen PregnancyHonest Iagos Truth through DeceptionTrailblazing by Eric AndersonGenetic EngineeringHip-Hop is ArtThe Masque of the Red Death Room meaningsThe Spring and AutumnEffects of Television Violence on ChildrenCapital Punishment

Reasearch project managment Essay Example | Topics and Well Written Essays - 750 words

Reasearch project managment - Essay Example Furthermore, these commodities are leading causes of pollution since they undergo combustion prior to their use leading to the emission of greenhouse gases that pollute the atmosphere (EREC 2010). As apparent in recent findings, countries within the European Union continue to record an increase in the demand for energy generated from renewable sources. From the sample size used in the research, estimations indicate that an increase in energy consumption will be recorded in the next decade due to continuity in the growth of the population. Normally, the developed countries are the principal consumers for energy. This is attributable to their increased utilization of technology and items that use energy to run operations (EREC 2010). The categories of the energy, which are used in such countries, include electricity, solar, wind and fossil fuels. Scientifically, it will be important for nations to educate its citizens on the roles they can play in promoting the use of renewable sources. The research intended to establish the factors that influenced consumption of energy within the European Union basing on percentage figures. As apparent in the findings, there was an expectation that pollution would increase based on the demand for fuel and other sources of energy. Therefore, authorities should devise measures of curbing the negative environmental effects associated with energy consumption (EREC 2010). The use of energy commodities is advantageous; however, regulatory mechanisms should be adopted to limit the detrimental impacts that cause environmental pollution. The need for control mechanisms is partly attributable to the colossal sums that countries within the EU spend in meeting their energy needs. Research indicates that the gross national savings for the member countries should focus on electricity production. Concerns focusing on

Personal Essay Example | Topics and Well Written Essays - 250 words - 1

Personal - Essay Example In this case, the professor advocates for more talk than reading (Dickinson, 34). Good presentations are always structured in sections and in this case, the professor talks of the importance of organizing the points. It is also important to do a dry run on the topic before the main presentation. Showing interests in the students is also advisable. It is always wrong to intimidate the students or embarrass them (Dilts, 67). Communication during the presentation also remains an important component. In this case, it is always important to engage the students in the discussion. The communication component goes with the body language, flow of the language and giving the students a chance to contribute in the discussion. Circling the class gives the professor a chance to engage with every person in the class (Dilts, 70). Accepting interruption during the presentation is evidence enough that the students are concentrating on the topic of discussion. It is also important to finish strongly or knowing when to stop lecturing. Too much lecture can be become boring for

Job description and person specification Essay Example for Free

Job description and person specification Essay A job description is a document that lists the main tasks, duties and responsibilities required in the job place. At Woodbridge high school job descriptions are present for every job from caretaker to the head teacher post. The following are the main features of a job description. Job title for example head of department Job location at WHS in Woodford green Essex Nature of the organisation, WHS is a secondary school Lists of main tests Standard expected Pay and other benefits Promotion The person to whom the job hold reports to, at WHS the head of department will report to senior management team. Who the job hold is in charge of, head of department will be in charge of subject teachers working in that department. The job description is important to WHS as they use it for appraisals, identification of training needs for WHS staff and pay determination. With out this document WHS would not get the right candidates for the job which in turn will affect there performance, or might lead to a lot of resources being wasted on training. Person specification This document sets out the qualities of an ideal person for the job. The format of a person specification is based on Rogers 7-point plan. This plan requires WHS to distinguish between essential and desirable qualities under each of the seven headings. 1. Physique, health and appearance, this includes grooming, looks, dress sense, voice, hearing and eyesight as well as general health matters. Due to safety issues WHS might not employ staff if they have HIV/AIDS. 2. Attainments, this includes educational qualification. At WHS all teachers are required to have degrees the school will not employ any teaching staff who does not hold a degrees in a stain subject. 3. General intelligence, organisation such as WHS uses IQ tests and by assessing general reasoning ability of the candidates WHS can estimate the IQ of the candidate. 4. Special aptitudes, this section includes skills with words, with numbers, with musical instruments and with artistic technique. WHS needs people with such skills; this improves the schools results performance. 5. Interests, WHS would like to know whether the candidates are intellectual or practical or social or a mixture of them all. WHS would prefer to employ some one with a mixture of them all because of being a mixed culture school. 6. Disposition, this is an assessment of the persons acceptability by other staff, leadership qualities, the persons emotional stability and self-reliance. 7. Circumstances these are factors such as age, whether applicant is single or married, mobile or not. Evaluation of the job descriptions/ person specification Administrative assistant This job description is very brief it lists the job title as administrative assistant for Woodbridge high school. It lists the name of the organisation but does not list its location and there is No address for the applicants to send the application to if they were to apply. It lists the main duties and the person whom the applicant reports to as the director of administrative service. But still the job description does not provide potential applicants with the all the information that it should provide. In fact this job description would not receive any applicants applying for the job simply because there is no address to which application forms are to be sent. The job description does not provide information about pay and benefits, hours the applicant will be working and does not give aims and objectives that the person should be aiming for. The JD does not talk about the purpose and does not give any conduct details. WHS could improve this job description by providing a brief outline of what WHS does this will give the potential applicant an idea of what to expect if he is employed. The document should does not list a point of contact, it does not tell the applicant who he/she will be responsible for and it does not have a deadline for the application forms. WHS could also provide pay and other benefits and promotion prospects, if WHS give this information on there Job description they are more likely to get many people applying for job because applicants would know how much the job is going to pay and what promotion prospects are involved. Promotion prospects are very important because most people dont want to get stack in one career level not moving on. With the shortage of staff to work in school in London east this job description would not get very many applicants applying for job because it does not provide the most important information that applicants look for. The person specification does not give potential applicants the right/ clear level of qualifications required; it states that a good level of general education is required. Different people will understand this in different ways. WHS should give the applicant clear qualification levels that the job will require. It states what they will gain and learn from the post. It does not mention any thing about physique, health or attainments. Nothing concerning ages and sex of the person required has been stated. The person specification needs a lot of adjustments as its very brief and does not give applicants the information they need to know for this job as an administrative assistant. Teacher of drama (CPS) The job descriptions provides the applicant with the most relevant information for the job for example job title, purpose of the job, principles duties and responsibilities, and general duties. It also states to who the teacher will be reporting to. But it does not provide the most important information that every potential applicant will be looking like the objectives and aims of the job. For example most applicants will be interested in how much they will be earning/ salary which the job description does not show. It does not show promotion prospects of the job which applicants are interested in as they would want to know what will happy in the future if say they got the job would there be a chance of being promoted to a higher post or are they going to be stack in the same position for ever. Because WHS did not provide this information it might discourage applicants to apply for the post leaving WHS with no one to cover the post. It also does not talk about the aims and objectives of the job and number of hours to be worked. In future WHS should provide a brief outline of what it does, pay and other benefits, and promotion prospects this might lead to more people applying for the post. Also WHS would mainly need to give an address to which the applicants will send the application forms, because with no address the job description is useless as no one can apply for the job because they dont know were the organisation is located and to whom they should send application forms. The person specification for the teacher of drama lists clearly the qualification required; it states what experience the applicants must have and the abilities. However the person specification could have been improved to provide physique, health and appearance requirements that the job might require. This person Specification should be adjusting to include skills and knowledge need for the post. Deputy headteacher-development-LI7+O.L.A. The job description provides the applicants with information about the nature of the job. What the job involves, its purpose, job title, principal duties and responsibilities, to whom the applicant will be reporting to and who the applicant is responsible for. Though this document provides most of the relevant information about the nature of job however this document would not attract very many applicants because WHS has missed some of the most important information the applicants would most be interested in e.g. pay and working conditions. WHS should provide information about the location of the job/ WHS; they should also give a brief outline of what WHS does. The job description should state the aims and objectives of the job on offer, and hour that need to be worked. It does not state whether the post is full-time, part-time, temporary or permanent. WHS could improve their job description by adding information about pay/ salary per year and other benefits that the job will offer for the applicants. Applicants will also be interested in promotion prospects; they will want to know what will happy in the future for example would there be a chance of promotion after a stain number of years working for WHS. As in all the documents WHS does not give point of contact and address to which application forms are to be sent, this causes problems as applicants wont know were to send the application forms. The person specification lists qualifications and experience required however it does not provide information with regard to the ideal person for the job for example it does not provide information about physique, health and appearance, general intelligence, interests and special aptitudes. It does not give any contact numbers for contact. All the above job description and person specifications are brief and dont not provide any form of contact details e.g. addresses or telephone numbers which are vital for the application forms to be sent back to. They dont tell the applicants of the location of the job, so applicants dont know how far to travel and what travel costs might be acquired. The job descriptions and person specifications need a lot of improvement e.g. contact details, pay and benefits, hours worked, and promotional prospects if they are to attract any body to apply for the posts.

Overcrowding in 19th Century Britain

Overcrowding in 19th Century Britain The Problem of Overcrowding in 19th Century Urban Britain During the nineteenth century urban populations grew at an extremely fast rate as industrial growth drew people into the cities in the search for employment. This rapid growth caused a great deal of concern amongst Victorian politicians and authorities regarding law and order, but they were at first unaware of the far greater danger which was the poor sanitation caused by the speedy building of back-to-back housing created to accommodate this population growth. The main points I will be addressing in this essay will be a) how far the growth of population was the main cause of bad health caused by overcrowding, and b) how the authorities dealt with such health problems and how far they were successful. I have chosen this particular subject because it can be argued that it was the main problem of urban living in the nineteenth century, and other problems such as pollution, cholera outbreaks or infant mortality could be said to be caused or exacerbated by such overcrowding. By the time of the 1851 census, and for the first time in the nation’s history, more people were living in urban areas than they were in rural areas. Between each census from 1841 to 1881, the population of urban areas grew by an average of 25% and by 1881 the urban population was 70.2% of the total population of England and Wales.[1] In Manchester, the city where the cotton industry caused massive urban growth, the population had increased six times within sixty years by 1831.[2] In order to cope with such numbers building of houses was undertaken as quickly as possible, often in small areas of land, which meant that in poorer areas houses were built back-to-back in high density in order to accommodate as many people as possible. In order to save space, they were built without gardens, around dark courtyards with communal privies at the end of each street. Some buildings in Edinburgh had more than ten storeys, which meant that people had to carry water up many stairs – and often didn’t bother. In Manchester, the large numbers of Irish immigrants created pockets of poverty-stricken communities living amongst the factories and smoke where ‘several families might be living under one roof or even in â€Å"the pestilential atmosphere† of one room.’[3] In London, in the period before the underground railway, when people still needed to be able to walk to work, building programs took place close to the city areas without any plannin g from central sources. Thus areas such as Bethnal Green and Whitechapel suffered from gross overcrowding, and in Covent Garden, older buildings were converted into tenements and cellars to provide for the poor settlers who swept into the metropolis, particularly in the area known as ‘The Rookeries’ where refugees from the Irish famine had settled. In 1847 Dickens described the ‘disorderly crop of beginnings of mean houses, rising out of the rubbish, as if they had been unskilfully sown there.’[4] Edwin Chadwick’s Report on the Sanitary Condition of the Labouring Classes, commissioned by the government to investigate sanitation in 1842 was undertaken through a system of interviews and visits carried out by Poor Law medical officers and commissioners. Its evidence revealed how many families lived in cellars, often several families at the same time, which were subject to flooding. In one example in Manchester, 40 people were discovered to be living in one cellar. Furthermore, unscrupulous owners of lodging houses, taking advantage of the need for housing, would put lodgers up in ‘poorly furnished, badly ventilated and overcrowded’ rooms.[5] Chadwick’s report revealed that mortality rates in urban areas were much higher than in rural areas, particularly amongst the poorer classes. In fact, the average age of death for labourers in districts such as Liverpool and Manchester was around 15 during the period 1839-40, indicating an extremely high infant mortality rate. Chadwick himself attributed these figures to squalid and overcrowded living conditions, although badly ventilated working areas and long working hours were also a contributory factor.[6] Chadwick’s report did raise awareness, yet many people, in particular the Conservative Party, did not support his recommendations, and the pressure group set up in 1844, the Health of Towns Association, found very little was being done in towns and cities to counteract the effects of poor sanitation. The attitude of laissez-faire was strong, and many authorities were opposed to sanitary reform for economic reasons. The evidence shown by Chadwick would seem to show an obvious correlation between overcrowding and poor health. However, the association between dirt and disease was not yet fully understood at this time. Outbreaks of cholera in the 1840s and 50s were the subject of much debate over its likely causes and very little was understood about how the disease was spread. It was noted, however, that the worst cases of cholera seemed to prevail in areas of towns where there was very poor sewerage or drainage, and Dr John Snow tried to demonstrate through scientific experiment that disease was water-borne. However, Snow met with huge opposition within the medical profession, and it was not until 1883 that his theory was proved. Thus, although people like Snow and Chadwick tried to encourage cleanliness amongst the working classes, very little effective work was done by the authorities. Chadwick did not suggest curative methods in his report. He declared: ‘engineers were needed for the task at hand not the medical profession’[7] He was more concerned with preventative measures, ensuring towns had regular supplies of clean water, and that houses had adequate drainage into proper sewers. However, this is not to say that medicine did not play a role in the developments that eventually led to improvements in town and city health. Medicine did in fact play a very important role in the improvements in housing. At the beginning of the century very little was known about the causes of disease, and doctors had very little equipment with which to carry out research. Surgery was extremely primitive and carried out in what we now know as unhygienic conditions. It was not until 1865 that Louis Pasteur proved his germ theory: that these micro-organisms could cause decay and disease. Robert Koch built on Pasteur’s work by showing that different types of germs caused specific illnesses, and that the answer to curing disease was to destroy the specific germ. It was Koch who, in 1883, identified the germ that caused cholera. From Pasteur and Koch’s work, vaccines began to be developed in the 1880s.[8] It was due to these discoveries, and the work of Dr. John Snow, that the authorities finally realised that it was necessary to make radical changes in the drainage and water systems in towns and cities. In 1866, the year after Pasteur had made proved his germ theory, the Sanitary Act was passed, forcing towns to appoint sanitary inspectors. Local government became responsible for public health, and eventually Public Health Act 1872 was formed, creating separate bodies each headed by a Medical Officer of Health. Despite these developments, it took a long time for housing to improve. Back-to-Back housing was still being erected in Leeds and Bradford up until 1937, despite some building regulations and strong calls for their demise.[9] In rural areas, especially around the mining towns of Wales, house building was still very hasty without due care for health, as is evidenced in this report on the area by Merthyr Tydfil: ‘If a new colliery is opened in an upland valley 200, 300 or 400 houses are built very rapidly, and they inhabited long before they are dry.’[10] However, some cities, such as Bury and Liverpool, forbid the building of back-to-backs in the 1860s. To sum up, the problem of overcrowding in urban and industrial Britain in the 19th century was one that was not widely recognised by the authorities in the early part of the century. Housing was created to accommodate vast numbers of industrial workers who flooded into the cities, and the speed at which they were built meant that little care was taken to provide adequate drainage and disposal of sewerage. Reformers such as Chadwick saw that there was a distinct connection between overcrowding and mortality rates, but it was not until scientific and medical advances proved that germs and bacteria carried by dirty water supplies caused diseases such as cholera that the government took any adequate action. The main sources I have used for this essay are Taylor, Best and Briggs. Taylor does not provide the highest academic level of text, but his clear chapters separated into different economic and social subjects, and his use of primary sources provides useful factual information. Best is one of the recognised authorities on Victorian Britain and he provides a detailed account of life in mid Victorian England. Briggs is also highly regarded as an expert in this field, and his detailed historical research provides a good, detailed overview of specific British cities during this period. Bibliography Best, Geoffrey, Mid-Victorian Britain 1851-75, Fontana Press, 1990 Briggs, Asa, Victorian Cities, Penguin, 1990 Taylor, David, Mastering Economic and Social History, Macmillan, 1988 Wilson, A. N., The Victorians, Arrow, 2003 1 Footnotes [1] Best, Geoffrey, Mid-Victorian Britain 1851-75, Fontana Press, p.24 [2] Briggs, Asa, Victorian Cities, Penguin, p.89 [3] ibid, p.92 [4] quoted in Briggs, A, p.346 [5] Taylor, David, Mastering Economic and Social History, Macmillan, p.303 [6] ibid, p.307-8 [7] Taylor, D., p.310 [8] ibid, pp.319-20 [9] Briggs, A., p.156 [10] quoted in Best, G., p.39

Immersive in Multimedia

IMMERSIVE MULTIMEDIA Introduction to Immersive Multimedia The history of Immersive Multimedia began with the concept of Virtual Reality. In the late 1960s, the desire of computer scientists and artists was to create, digitally-made ‘near-to-reality’ experiences through Interactive Multimedia. This became known as Virtual Reality. Virtual Reality, today, is a computer-created environment that a user can experience through the senses of sight, hearing and touch. Immersive Multimedia is a combination of multimedia elements and interactivity in Virtual Reality. Immersive refer to omputer generated simulation of reality with physical, spatial and visual dimension. This interactive technology is used by architechs, science and engineering research and the arts, entertainment, and video games industry. Virtual Reality system can simulate everythings from walk through of a building prior to construction to simulations of aircraft flight and three dimension computer games. Immers ive technologies and virtual reality are powerful and compelling computer application by which humans can interact and interface with computer generated environment in a way that imics real life sense engagement. As 3D and immersive technology becomes more integrated and available for a wide range of application. It require well designed user interfaces and innovative content for the next generation of computer games and integrated technology like mobile devices distributed web systems and desktop application. Example Of Immersive Multimedia Education Business Entertainment IMMERSIVE MUTIMEDIA IN ENTERTAINMENT Example Of Immersive Multimedia in Entertainment Virtual Football Virtual Gliders Aircraft Virtual Games Counter Strike Virtual Games Formula 1 Virtual Games Adventure Kayak Games Virtual Truck Games VR has a lot of positive benefits. It gives disabled people the opportunity to join in activities not usually available to them. In virtual worlds, people in wheelchairs, for example, can have a freedom of movement that they do not have in the real world. At the moment very few people can afford to buy a VR system. But as the technology advances, lightweight helmets and more powerful computers will take VR into ordinary homes. Virtual reality has very important uses in all types of architecture and industrial design. Computer Aided Design, or CAD, has been an important design tool since the mid 1970s, because it allows the user to draw three- dimensional images on a computer screen. However, unless you have a VR helmet and glove to project the images on to, you will not be immersed in your virtual world. 3D Viewing 3D viewing enable users to view the screen in 3D form and real. This Make the media more Attractive to users. For example a users will felt the movie like happen on this surrounding if he view on a 3D screen. Virtual reality developed out of the technical community, rom a vision of what was technically possible and from the requirements of certain technically demanding applications. Of course, some of the creators had visions of applications far beyond the needs of their funding sources, but generally the community has explored virtual reality as a human-computer interface technology. REFERENCE ?http://library. thinkquest. org/26890/virtualrealityt. htm ?http://liquidnarrative. csc. nc su. edu/classes/csc582/papers/vrae. pdf ?http://images. google. com. my/images? hl=en&source=hp&q=virtual+reality&btnG=Search+Images&gbv =2&aq=2&oq=VIRTUAL

Public Sector

The country was facing problems like inequalities in income and low levels of employment, regional imbalances in economic development and lack of trained manpower. India at that time was predominantly an agrarian economy with a weak industrial base, low level of savings, inadequate investments and infrastructure facilities. In view of this type of socio-economic set up, our visionary leaders drew up a roadmap for the development of Public Sector as an instrument for self-reliant economic growth.This guiding factor led to the passage of Industrial Policy Resolution of 1948 and followed by Industrial Policy Resolution of 1956. The 1948 Resolution envisaged development of core sectors through the public enterprises. Public Sector would correct the regional imbalances and create employment. Industrial Policy Resolution of 1948 laid emphasis on the expansion of production, both agricultural and industrial; and in particular on the production of capital equipment and goods satisfying the b asic needs of the people, and of commodities the export of which would increase earnings of foreign exchange. . 1. 3 In early years of independence, capital was scarce and the base of entrepreneurship was also not strong enough.Hence, the 1956 Industrial Policy Resolution gave primacy to the role of the State which was directly responsible for industrial development. Consequently the planning process (5 year Plans) was initiated taking into account the needs of the country. The new strategies for the public sector were later outlined in the policy statements in the years 1973, 1977, 1980 and 1991. The year 1991 can be termed as the watershed year, heralding liberalisation of the Indian economy. 2- 1. 1. 4 The public sector provided the required thrust to the economy and developed and nurtured the human resources, the vital ingredient for success of any enterprise; public or private. 1. 2 GLOBAL TREND industrial revolution in Europe. With the advent of globalization, the public secto r faced new challenges in the developed economies. No longer the public sector had the privilege of operating in a sellers market and had to face competition both from domestic and international competitors.Further, in the second half of the 20th century in the developed economies, the political opinion started swinging towards the views that the intervention as well as investment by Government in commercial activities should be reduced to the extent possible. 1. 2. 1 The Public Sector emerged as the driver of economic growth consequent to the 1. 2. 2 Many eminent economists argued that Government must not venture into those areas, where the private sector could undertake job efficiently.Lot of emphasis was laid on market driven economies, rather than State controlled and administered economies. The collapse of socialist economy of the Soviet block convinced the policy planners, around the world, that role of the State should be that of a facilitator and regulator rather than the pr oducer and manager. It may be worth mentioning that, in various countries, the turn towards liberalism including deregulation and decontrol also led to discontent amongst some sections of population as its benefit did not flow down to the weaker and disadvantaged sections of society. . 2. 3 Today, both Public Sector & Private Sector have become an integral part of the economy. There may not be much difference in working of these sectors in advanced countries, but in developing countries, the performance of Public Sector has considerable scope for improvement. It is also observed that Pay packages are almost similar in both sectors in developed countries, but large differences exist in remuneration in the two sectors in developing countries, like ours. -3- 1.3 Economic Scenario and Role of Public Sector in India – General perspective 1. . 1 Government of India, as part of its national agenda to promote growth, increase in efficiency and international competitiveness, has been continuously framing policies for industrial growth, fiscal, trade and foreign investment to achieve overall socio-economic development of the country. As a result of exceptionally severe balance of payments and fiscal crisis in the year 1991, the government decided to shift to a liberalized economy with greater reliance upon market forces, a larger role for the private sector including foreign direct investment. 1. 3. The Government realized that a strong and growth oriented nation could be built if India grows as part of the world economy and not in isolation. Thus, liberalising and deregulatory steps were initiated from the year 1991 onwards, which aimed at supporting growth and integration with the global economy.Since then, the thrust of New Economic Policy has been on progressive reforms such as reduction in the scope of industrial licensing, reforms in the Monopolies and Restrictive Trade Practices (MRTP) Act, reduction of areas reserved exclusively for public sector, disinve stment of quity of selected public sector enterprises (PSEs), enhancing limits of foreign equity participation in domestic industrial undertakings, liberalization of trade and exchange rate policies, rationalization and reduction of customs and excise duties and personal and corporate income taxes, promoting FDI, investments from NRIs (Non-Resident Indians), extension of the scope of CENVAT, implementing the VAT regime in States, taking steps to switch over to goods & services tax system w. e. f. 01. 04. 010, e-governance and simplification of various procedures, rules and regulations etc. 1. 3. 3 Since the setting up of World Trade Organization (WTO) in the year 1995, as an apex body at the international level, to which India is a signatory, the world trade has definitely grown thereby giving indications that international trade reforms do play an important role in boosting economic development of various countries. 1. 3. 4 Industrial policy has seen a sea change with most Central Government industrial controls being liquidated.The Central Public Sector Enterprises (CPSEs) were classified into ‘strategic’ and ‘non-strategic’. Strategic CPSEs were identified in -4- the areas of (a) Arms & Ammunition and the allied items of defence equipments, Defence air-crafts and warships; (b) Atomic Energy (except in the areas related to the operation of nuclear power and applications of radiation and radio-isotopes to agriculture, medicine and non-strategic industries); and (c) Railway transport. All other CPSEs were considered as non-strategic.Further, Industrial licensing by the Central Government has been almost abolished except for a few hazardous and environmentally sensitive industries. 1. 3. 5 The main elements of the present Government policy towards Public Sector enterprises as contained in the National Common Minimum Programme (NCMP) are reproduced below: i) To devolve full managerial and commercial autonomy to successful, profit making companies operating in a competitive environment ii) Generally , profit-making companies will not be privatized ii) Every effort will be made to modernize and restructure sick public sector companies and revive sick industry iv) Chronically loss making companies will either be sold off, or closed, after all workers have got their legitimate dues and compensationv) Private industry will be inducted to turn-around companies that have potential for revival vi) Privatization revenues will be used for designated social sector schemes vii) Public sector companies and nationalized banks will be encouraged to enter the capital market to raise resources and offer new investment avenues to retail investors. . 3. 6 The Government has made a clear commitment to empowering the CPSEs and their managements. It was recognised that public enterprises could not compete effectively with private entrepreneurs without freedom to function and operate -5- commercially. Thus, the concept of Navratna and Mi ni-Ratna was introduced with greater delegated authority, both financial and managerial. Government has realized that ‘Navratnas’, ‘Mini-ratnas’ and other CPSEs are required to grow and deliver on the promises they have made to their stakeholders.Other reforms have also been announced, such as professionalisation of the Boards of Directors of public sector enterprises and evaluation of performance of CPSEs through Memorandum of Understanding (MOU). 1. 4 Performance Status wide range of activities in the manufacturing, engineering, steel, heavy machinery, machine tools, fertilizers, drugs, textiles, pharmaceuticals, petro-chemicals, extraction and refining of crude oil and services such as telecommunication, trading, tourism, warehousing, etc. and a range of consultancy services.

Zorba the Greek Essays

Zorba the Greek Essays Zorba the Greek Essay Zorba the Greek Essay Zorba the Greek is an exploration of mans passions, and encourages the reader to explore more avenues of freedom in life. The two main characters, Alexis Zorba and the narrator, are opposites. The narrator, who is unnamed, is an intelligent, serious, and contemplative person, while Zorba is funny, compulsive, and spontaneous. Everyone he meets develops a strong impression of Zorba. Zorba is a man of seemingly limitless energy; he is passionate, willing to do anything anywhere. He denies no pleasures to himself. He is a hedonist, loving and indulging in wine and women. He lives life without guilt or shame, living for the moment and caring only for worldly pleasures. That is the essence of his freedom. Zorbas version of freedom is attractive to the modern reader because the modern life is more like the narrators that Zorbas. It is interesting that Zorba had little finger cut off because it was interfering with his pottery work. This is somewhat representative of his overall views on the world. Pain and suffering are alright with him, as long as he is able to satisfy his intense passions and desires of the moment (particularly women). Zorba is a somewhat idealized free spirit. He does not subscibe to any religion, and scorns a god who would punish the enjoyment of life. He is also without experience of formal education, and all his knowledge he has gained from wordly experiences. To Zorba freedom means the ability to satisfy all his worldly desires, while the narrator concerns himself with the philosophical aspects of life, believing that freedom can only be attained if one can reduce the world to philosophical, understandable components. To him real freedom exists on a metaphysical level. He is a bookish man, an observer (or perhaps a slave) of rationality and reason. But in spite of his ideas the narrator leads the more traditional life. The narrator is typical in that he is an idealist; he has a passion for educating people and challenging their established beliefs and assumptions about life. Zorba opposes this philosophically contentious aspect of the narrator because he assumes that most people are not willing to change, and such changes, when imposed upon them, will only hurt them. Zorba is still not free in the sense that he is the unknowing subject of the prejudices in his society (this is especially apparent in his attitude towards women); on the other hand the narrator is also not free, in the sense that he is a slave of reason. Ironically it is mainly Zorba who educates his boss, the narrator, who is a university-educated intellectual. The narrator learns from Zorba the realities of life, particularly concerning love and freedom. The book is basically a protest on the poverty of modern intellectual life. The narrator eventually realizes how stunted a life he had led, a life that has always gone through metaphysical and intellectual scrutiny. Freedom can be said to be the antithesis of reason. To be absolutely free (theoretically) one must abandon reason. The modern man, exemplified by the narrator, is burdened by existentialist questions that fail to make for a happy life, one such as Zorba leads. Instead of suppressing the fun-seeking irrational mind, humans should exploit this side of human nature as a catalyst of charge. By embracing human folly as inevitable, one can achieve the full potential of freedom in life.

Advanced Fiber Reinforced Composites essays

Advanced Fiber Reinforced Composites essays Fiber-reinforced composites are composed of axial  particulates  embedded in a matrix  material.  The objective of fiber-reinforced composites is, to obtain a material with  high specific strength, high specific modulus, high strength, and high elastic modulus for its weight. The strength is obtained by having the applied load  transmitted from the matrix to the fibers.  Hence, interfacial bonding is important.Classic examples of fiber-reinforced composites include fiberglass and wood.A commonly used glass fiber composition  for  structural composites  is E-glass, in which E stands for "electrical type". It is  a lime-aluminum-borosilicate glass with zero or low sodium and potassium levels. It is  popular because it has chemical durability. A more advanced and expensive fiber  is  S-glass,  a  magnesia-alumina-silicate glass that  is used  for high-strength applications. There are three types of fiber geometry: There are 2 different geometries for aligned fibers: Racing cars used to be made of the same sort of materials as road cars that is steel, aluminum and other metals. In the early 1980s, however, Formula 1 underwent the beginnings of a revolution that has become its hallmark today: the use of carbon composite materials to build the chassis. Today, most of the racing car chassis - the monocoque, suspension, wings and engine cover - is built with carbon fiber. The first step along the way to making a carbon fiber car looks more like a clothing factory than a car factory. In each Formula 1 team factory is a room with large tables on which vast sheets of what looks like cloth are laid out and cut to size. Taken from large textile-like rolls, these sheets are highly pliable, flexible, and unlike textiles, will end up looking nothing like their original form. Once the material is cut out from the cloth-like roll, it is taken to a design room and placed into molds. The position of the cloth within the mold is important, as it...

Write a report assessing the feastibility of dufferent techniques for Assignment

Write a report assessing the feastibility of dufferent techniques for providing fresh water to arid region of the world - Assignment Example Use of desalination process is applicable in most parts of the world with its feasibility being based on aspects energy and eco-friendliness. On the other hand, rainwater harvesting is suitable in those areas that are agriculture oriented and their rainfall distribution can allow for runoffs. Most parts of the Middle East meet its viability. Desalination is the process of eliminating that solid material that has dissolved in water especially salts and other lifeless variety. Desalination takes place in the normal natural setting as water evaporates from the seas, lakes, and oceans to move upwards, precipitate, and form clouds. Historical descriptions and records, including the setting of some of the earliest Greek philosophers reveal that humanity has been using desalination since long ago to come up with drinking water. The arid situation in some parts of the world has contributed towards the increased use of desalination to create fresh water that can enable them carry out various purposes with it. Studies reveal that desalination technology is used in about 125 countries globally, with the United States leading in its application (National Research Council, 2004, p.12). Several desalination know how are used in different parts of the world to remove salt from seawater. The type of technology used is dependent on some factors such as quality of the water source, anticipated purpose for the water being desalinated, size of the plant, capital, and energy charges and the possibility of energy reuse. In desalination process, thermal technologies are used to heat seawater, which then evaporates forming vapor. The vapor is then condensed to become fresh water. The use of thermal technologies was common many decades ago. From 1950, there was a shift from thermal use to use of membranes to desalinate brackish water (Escobar and Schafer, 2009, p. 10). The Middle East is among the main users of

Learning, Coaching, Development Essay Example | Topics and Well Written Essays - 2500 words

Learning, Coaching, Development - Essay Example Thus the training program would be differently focused as now teaching, helping, guiding, and developing the employees would be given attention such that the multi channel strategy can successfully be implemented. Employee development is an essential aspect of any business organization that is carried out by the Human Resources Team of the organization. Development and hence training is essential as it helps the employees to improve upon their skills and effectiveness (Werner and DeSimone 2011). Individual learning and development have always proved to be beneficial for organizational employees who become more committed, responsible, and motivated to their tasks followed by such training program. Organizations thus find it an essential part of the HRM processes to include training processes, particularly focused on learning and coaching, for development of employees (Park 2007). Based on the case study and the need for the organization to develop its employees towards the use and imp lementation of multiple channel communication for their business, a four weeks training program will be developed, along with discussion of the different stages of the training cycle, and the impact of learning and coaching on development of employees. 2. Identification of Training and Development Needs: When training and development is considered within an organization, there are individual roles and responsibilities of the organizational managers, the professionals of the HR team, and the employees (Jackson, Schuler and Werner 2011). The basic roles and responsibilities can be outlined as follows: Managers need to understand the developmental needs of the employees and cooperate with the HR team to implement the necessary training measures. They need to encourage the participation of the employees in the program and offer the learning and coaching techniques to them thereby participating and giving effort in the program (Jackson, Schuler and Werner 2011). The HR professionals need to coordinate with the managers and determine the employee needs for development. Accordingly, the training program needs to be planned and implemented followed by evaluation. To communicate with the employees, and administer the program involving complete participation of the employees, are the responsibilities of the HR team (Jackson, Schuler and Werner 2011). The role of the employees is to understand the organizational objectives, and hence realize the need for their development of skills and effectiveness. Based on their understanding they need to cooperate with both the managers and the HR team to successfully implement the training program. The learning and coaching offered to them by their managers and HR team need to be considered as opportunities for them to enhance their positive skills (Jackson, Schuler and Werner 2011). 2.1. Basic Skills and Competencies for Call Canter Work: Call centers have emerged to be significant development for organization of white-collar works . Several businesses are now outsourcing their works and call center proves to be a major development