Monetary Policy and Its Impact on the Recession

Running head: MONETARY POLICY/MACROECONOMIC IMPACT PAPER Monetary Policy/Macroeconomic Impact Paper Heather Robinson University of Phoenix MMPBL 501 04/25/2010 Introduction The Federal Reserve Board (FED) utilizes tools to control or manipulate the money supply, these tools affect macroeconomic factors such as inflation, unemployment and interest rates, which ultimately determine a country’s GDP. To recommend the best monetary policy combination I will discuss the tools used by the feds, explain how money is created and also illustrate the effect of the money supply on the economy. It is the money supply which determines the rate of inflation, unemployment and economic growth. Tools Used by The Federal Reserve To Control Money Supply. The Fed has three main tools for controlling the money supply these are their Open Market Operations, The Discount Rate, and The Reserve Ratio. These tools can be used to alter the reserve ratios of the commercial banks which in turn determine the money supply. â€Å"The money supply consists of currency (Federal Reserve Notes and coins) and checkable deposits. The U. S. Burea of Engraving creates Federal Reserve notes and the U. S. Mint creates the coins. †(McConnell & Brue 2004) â€Å"By purchasing government bonds, (securities) the Fed increases the reserves of the banking system which then increase the lending ability of the commercial bank,†(McConnell & Brue 2004) and the money supply available. Selling bonds will also achieve the opposite results namely reduce the money supply by reducing the reserves of the bank. The central bank desires to be a lender of last resort. When the commercial bank borrows it gives the Fed a promissory note drawn against itself and secured by acceptable collateral. The Fed charges interest on the loans which is called the discount rate. The new reserve obtained by borrowing from the Fed immediately becomes excess reserves as no required reserve needs to be kept for loans received from the Fed. Thus by reducing the discount rate, commercial banks can be encouraged to borrow from the Fed which directly increases their excess reserves and their ability to lend, so the money supply is increased. The opposite can also be done to reduce the money supply. The Fed can also manipulate the reserve ratio as a means of affecting the ability of commercial banks to lend. If the Fed increases the reserve ratio the commercial bank is forced to reduce its checkable deposits in order to increase its reserves to the new minimum requirement. It might also be forced to sell some bonds in order to increase its required reserves, and both scenarios would result in a reduction of the money supply. By lowering the reserve ratio the commercial banks reserve is transformed into excess reserve which increases the banks capability of lending, which increases the money supply. â€Å"Interest rates in general rise and fall with the federal funds rate. The prime interest rate is the benchmark rate that banks use as a reference point for a wide range of interest rates on loans to business and individuals. † (McConnell & Brue 2004) Therefore when the Fed changes the discount rate it also changes the prime interest rate. A lower discount rate is passed on to consumers who then are able to obtain lower interest rates for mortgages and credit cards which increases their disposable income. This higher disposable income then results in more demand for goods and services which causes an increase in the supply of these goods to meet the increasing demand. Also an increase in the money supply and more money to lend by the banks result in more credit for businesses who are then able to purchase more materials to produce more or invest into the expansion of their businesses. The end result is that more goods and services are being produced as a result of the increase in money supply, which is beneficial to the country’s GDP. â€Å"In brief, the impact of changing interest rates is mainly on investment (and, through that, on aggregate demand, output, employment and the price level). Moreover investment spending varies inversely with the interest rate. †(McConnell & Brue 2004) The Creation of Money Money creation occurs in two main ways, the creation of base money, mostly currency notes created by the Federal Reserve. The second process involves checking account or deposit money created by commercial banks, which makes up most of the money supply. Base money is created when the Fed performs open market operations. The Fed injects money when it purchases Government securities, by creating it. Almost all money we come by has its basis in money that the Fed invented Once this money has been created approximately ten times as much can be created by banks in checking accounts and deposits. They accomplish this by granting loans to the public, a corresponding amount of checking account money is created with each new loan. So money is created when the money supply is increased. Using expansionary monetary policy, decreasing the reserve ratio and discount rates, or buying bonds and securities result in money being created. State of the Economy With regards to the U. S. conomy, it has â€Å"contracted further since the beginning of the recession, and the labor market worsened over the first half of 2009†. according to the published monetary policy report to the congress. (MPRC July 2009) Economic activity decreased sharply and strains in financial markets and pressures on financial institutions overall intensified. (MRPC July 2009. ) However the negative activity appears t o be abating, unemployment has continued to increase but at a slower pace, while inflation has been minimal. To date the credit conditions continue to be restrictive and it is still difficult for businesses and households to receive credit. The U. S. real gross domestic product (GDP) was less than the first quarter of 2009, though it seems that the† contraction of overall output looks to have moderated somewhat of late. â€Å"(MPRC July 2009). Consumer spending was increased due to the tax cuts and increases in various benefit payments received as part of a stimulus package, which increased disposable incomes. The housing market has experienced some stabilization in the demand for new houses after three years of persistent declines. Businesses however have continued to decrease their capital spending and liquidating of inventories due to reduced demand and excessive stocks. More recently foreign demand has also dropped for U. S. products which produced a reduction in U. S. exports and the U. S. demand for imports also fell. Concerns of the Federal Reserve and Directions of Recent Monetary Policy The Federal Reserve policy action has focused on facilitating economic recovery and encouraging the flow of credit, which brought the federal funds rate down to a historic low rate of zero to one quarter percent, and also purchased additional agency (MBS) mortgage backed securities. MPRC 2009) â€Å"Overall consumer price inflation which slowed sharply late last year remained subdued in the first half of this year, as the margin of slack in labor and product markets widened considerably further as prices of oil and other commodities retraced only a part of their earlier steep declines. †(MPRC2009)There is no effort to control inflation which seems to be under control so all emphasis is been placed on assisting the economy in recovering from the recession using monetary policies. In addition to reducing the federal funds rate and purchasing securities, the Fed continued to provide funding to financial institutions and markets using a variety of credit and liquidity facilities. Recent monetary policy actions include the decision of the Federal Open market Committee (FOMC), to expand its purchases of agency MBS and agency debt and to commence the purchasing of longer-term treasury securities to assist in improving the conditions in private credit markets. The fed also announced it will expand the eligible collateral under the TALF program, which is the recently launched Term Asset-Backed Securities Loan Facility. In June 2009, at the FOMC meeting, the members of the Board of Governors of the Federal Reserve System and presidents of the Federal Reserve Banks provided projections for economic growth, unemployment and inflation, these projections included the expectation of â€Å"real GDP to bottom out in the second half of this year, and then move onto a path of gradual recovery, bolstered by an accommodative monetary policy, government efforts to stabilize financial markets, and fiscal stimulus. † (MPRC2009) It was also projected that conditions in the labor market would continue to eteriorate, and then improve slowly over the next two years, and inflation would remain subdued in 2010 and 2011. Recommended Monetary policy When trying to recover from a recession and stimulating economic growth it is possible to increase inflation due to the increase in money supply if the expansionary policies are prolonged. There has to be a balance which will reduce unemployment, deter inflation and ye t promote economic growth. Monetary policy has been the best choice to manipulate the money supply as it is flexible, prompt and isolated from political pressure. McConnell & Brue 2004) The Fed can utilize open market operations, discount rate and the reserve ratio to achieve a balance between inflation, economic growth and unemployment. If the expansionary monetary policies result in too much spending and increased inflation, it can be curbed by selling securities, or increasing the discount rate and reserve ratios of the commercial banks. In the University of Phoenix simulation, the scenarios represented opportunities to utilize monetary policies to curb inflation, unemployment and increase GDP. The solution was the effective manipulation of the discount rate, reserve ratio, and open market operations. What was noticeable was that when the money supply increased so did inflation, and the unemployment rate is inversely related to the GDP. When the GDP increased unemployment fell. Conclusion The three tools of monetary policy which include, open market operations, the discount rate and the reserve ratio are quite effective in the application of expansionary or restrictive monetary policies to combat recessions or curb inflation. Whenever the Fed lowers the discount rate or the reserve ratio they increase commercial banks lending which stimulates aggregate demand and investment. The most effective tool seems to be the open market operation which is utilized more frequently, as the Government buys and sells securities often to manipulate the commercial bank’s reserves. Monetary policy is most effective due to speed and flexibility, it is free from political pressure and can be quickly utilized to respond to inflation and unemployment, and to create economic growth. References Bankers Research Institute, The Wizards of Money Part 1: How Money Is created. Retrieved April 26, 2010 from http://www. altruists. org/static/files McConnell, C. & Brue, S. (2004). Economics: Principles, Problems, and Policies, 6th ed. McGraw-Hill Irwin. Monetary Policy Report to the Congress, July 21, 2009. Retrieved April 26, 2010 from http://www. federalreserve. gov/monetarypolicy/mpr_20090721_part1. htm University of Phoenix. (2010). Simulations Monetary Policy [Computer Software]. Retrieved from University of Phoenix, Simulation MMPBL 501 website.

An Analysis of Great Expectations Essay Example

An Analysis of Great Expectations Essay Example An Analysis of Great Expectations Paper An Analysis of Great Expectations Paper Essay Topic: Great Expectations Pip feels and how he was treated. I think he also tried to show that it was wrong to treat children badly. In those days it was known that children should be seen and not heard but Dickens thought this was wrong, so he emphasized in the novel that it is wrong to think this. He tried to make people feel sorry for Pip because he always wanted people to feel sorry for him. It was normal for kids In those times to be treated badly, but Dickenss did cause awareness of how badly children were treated. All of Dickens family were In prison because of unpaid debts so he suffered a lot Just eke PIP. Basically Dickens puts all his anger and despair Into Pip, so rich people would help poor people. The word Pip means the seed inside a fruit and these tend to be small, so its like a way of calling Pip small and insignificant. This is a metaphor. This makes you feel sorry for Pip because even his name means he is small. Also you feel sorry for him because his parents are dead, generally you feel sorry for people when one parent is dead and they are older but hes only 7 and both of them are dead, its really sad and it makes you want to look after PIP hasnt been taught well, we know this because he repeats the word and a lot, and this suggests he Is a small child. He doesnt go to school and doesnt get taught at home. He doesnt get taught because only rich people got taught in them days. Dickens really liked education so he emphasized how important education is in his novels, like this one. This makes us feel sorry for Pip because no one really cares about him enough to give him education. He cant even say his real name so he shortened it down to Pip. This proves his sister doesnt look after him well because he should at least help him pronounce his name right. Great Expectations Is about a boy (Pip) whom gets treated badly by everyone and his parents and 5 brothers are dead. In those days there were very high death rates so Its no wonder a lot of his family members died. There were high death rates because people were extremely poor and couldnt afford to drink clean water or food, so they got diseases. He lives with his sister and her husband and she treats him horribly. Pip is in a cemetery one day when a convict (Magnetic) comes and orders PIP to get a Tile Tort Nils leg Ana some T Mage etc tenants PIP. Magellan gets caught and he protects Pip saying he stole all the goods himself. A crazy woman (Miss Having) and her daughter (Estella) bully Pip but Pip still has a crush on Estella. Miss Having gets Pip a Job. One day a lawyer daggers) says to Pip a secret benefactor has given Pip a large fortune. Pip assumes that Miss Having gave him the money and that she wants him to marry Estella. Pip finally gets education with the money he received. We find out it was Magnetic who gave him the money. Pip goes away with his friend Herbert to work. He comes back years later he sees Estella joking sad and he can tell shes become kind, them two get together and walk away holding hands. Chapter one is about when Pip is in a cemetery and is sitting near his mother and fathers gravestone and his 5 brothers. Then an ex convict comes and threatens him and tells him if he doesnt steal a file and some food for him, he will eat Pip. The ex convict is called Magnetic and he also said theres a man in the bushes as well and he is very violent. We dont know if he was making this up but we assume he was. Pip believed him and was very frightened afterwards. This Just added to Pips sadness. Chapter eight is about when Pip goes to see Miss Having and Estella. Miss Having is dressed in all white as if she was getting married, except all her clothes had turned yellow because shes wore it so long. She sounds crazy because she talks to herself and Pip has a crush on her daughter Estella. But Estella is horrible to Pip and Miss Having tells Estella to break his heart a bit like how someone broke her heart. Estella makes fun of the clothes that Pip wears and he gets really upset because he never noticed it before. From the very first chapter of the book the setting is in a graveyard. Just by reading the beginning of the chapter you feel sorry for Pip. Pip (a little boy) is in a graveyard sitting next to his family grave, like that isnt sad enough we find out its Christmas eve and he is alone there. We also find out his sister (who he lives with) hits him, it suggests this in a quotation. We know shes horrible to him because why would he be happy wandering around graveyards alone when he could be home. Also we know that he is poor and is undernourished because he would get small pieces of bread for his dinner, I know this because Magnetic takes his bread from him and bullies him. Its quite sad and really does make you feel sorry for Pip because even though he doesnt get much to eat a grown man has stolen what little food he gets. Another example of how Dickens creates an intimidating setting is how he chooses a little child to go to a cemetery. Cemeteries tend to be scary generally but if youre a child it would be even worse than that. A quote which supports this is l was dreadfully frightened. He was frightened because a convict Just threatened to kill him. If he wasnt in a cemetery it would be less scary because there would be people around and in cemeteries there are only dead bodies. Dreadfully means regretful and sad, so he was sad that he was frightened, which implies he wanted to be brave and not scared but he couldnt help but be frightened. After all hes Just a kid. Dreadfully is a very formal word and shows how frightened he is. He is also using a formal word because it was how they spoke then. Also he is trying to reinforce how scared nee Is. I RSI a Lot Ironic now you ethanol a concur as a sate place, a place were God is watching over you yet a boy is getting threatened outside it. Dickens is creating an image in our head of a small frightened boy, getting threatened in a meters by a big escaped convict. This in a normal situation would be bad enough but a lot of elements are added together to give it the effect Dickens wanted. Magnetic is an escaped convict but he gets caught again in the beginning of the book. Magnetic is fairly rough because he says l will cut your throat. Cut is a harsh, short and snappy word. The letter c is a harsh and rough sounding letter and t is a sharp ending letter. This shows he is very aggressive and full of hatred. He comes across like a monster by intimidating Pip. He is bringing out Pips weaknesses by being so scary. Its cruel saying this too 7 year old because he is only small and hasnt done anything to him for him to say that, but Magnetic is desperate so he has to do it. Magnetic is very dirty and isnt well looked after. We know this because if he has escaped prison and is hiding from the police outside in cemeteries he must be sleeping rough. A quotation from chapter one is The sky was Just a row of long angry, red lines and dense black lines intermixed. Saying the sky is angry is using personification, he is making the sky sound like a person. Lines intermixed this suggest the two colors deed and black get mixed together to make an ugly color, brown. Long angry, red lines and dense black these are dark, evil colors which mean the sky is going to get Pip. This would be very frightening for Pip. Dickens uses a list of three to describe it; long sentences make it sound powerful and engaging. The lines could also suggest it looks like a prison, the prison bars. This means that Pip might be feeling trapped and scared. In addition, an example of how Dickens creates an intimidating setting is how theres a sea close by which make the place sound deserted or if Magnetic chooses o kills him he could Just push him into the sea and no one would ever know. A quote which supports this point would be Down by the river, within, as the river wound, twenty miles of sea. Wound gives the impression that its like a tornado and that once youre in youre going to get wound around and around till youre trapped. A quote which supports that he thinks he is trapped is generally that I was in a low- lived, bad way. The twenty miles of sea makes it even worse for Pip, theres so much water and if he got trapped he would drown or wouldnt be able to make it back because its so long. This makes the reader feel like they should save Pip because it makes him sound so small by saying twenty miles of sea, you can imagine that Pip would be tiny compared to it. Lastly, Dickens made the setting look rough and dirty so it made the place look mysterious and scary. A quote which supports this is that this bleak place overgrown with nettles was the churchyard. The fact that its overgrown with nettles makes it look like anyone could hide and attack Pip behind these nettles and Pip couldnt do anything. Also it looks like its not being looked after so if Pip got attacked no one old come Ana save nil. Blear could mean Tanat nee reels lonely . Nils makes reader feel sorry for Pip because hes Just a small boy and yet he feels so alone. In chapter 8 Dickens describes Stats House as a big place thats really dark and gloomy. In the text it says that the house can be called enough house, which means that the house is big and is enough for people in those days to live in. A quote says theres enough of it in the cellars already to drown the Manor house, this shows they are rich and have a lot of money to make alcohol. In those days they didnt have lean water, so if they were rich they drank alcohol because thats clean and safe to drink. This suggests that Miss Having might have a lot to drink thats why shes a bit crazy. Another quotation which supports this is To stand in the dark in a mysterious passage of an unknown house. This makes the setting sound risky because its dark and Pip doesnt know his way around. Mysterious means odd and unexplained which shows that the place is odd and unexplained because nobody explained to Pip why he is there. It makes the reader eager to know why is Pip there and it makes the reader feel sympathy and feel protective over Pip. As you go throughout the book you get connected to Pip and you dont want him to get hurt. In chapter 8 Dickens has written whether the flower-seeds and the bulbs ever wanted of a fine day to break out of those Jails and bloom. This suggests that even though Pip was talking about the flowers he is relating them to himself. Jail suggests he feels trapped with his sister and her husband. He Just wants to run away because she doesnt treat him right and barely even feeds him. He is using personification here, because the flower seeds are not human but he is making them sound like they are. This links to chapter 1 when it says Down by the river, within, as the river wound, twenty miles of sea because that quote suggests that Pip feels trapped. This again makes the reader feel sympathy for Pip. One more quotation from chapter 8 is that the rank was the garden of the house, and that it was overgrown with tangled weeds. This suggests that no one cares about the garden and doesnt look after it. A bit like Miss Having because she doesnt wash her clothes and leaves everything the same as it was years ago, maybe thats what shes doing with the garden. Also it might mean that Pip is scared f the garden because in chapter one when there were messy weeds and nettles, Magnetic said to him a mean man was behind them. So it might have frightened Pip seeing the tangled weeds because he thinks theres a crazy man behind them wanting to get him. He is also in a strange persons house so it does sound creepy for Pip, this adds to how we feel sorry for him Dickens describes Miss Having as a crazy woman. A quote which supports this is so new to him, so old to me; so strange to him, so familiar to me; so melancholy to both of us! Call Estella! This sounds quite crazy because shes talking o herself in the mirror but it really does sound like shes talking to someone else. I think Miss Having is lonely and Just wants some company thats why she is talking to herself. Had been white long ago, and lost its luster. Because she is wearing clothes Tanat naves Eden waste In a Wendell seen sounds careless Ana alert. In ten TLS quote she used exclamation marks a lot which shows shes a bit hysterical, or maybe shes happy that shes finally got someone to talk to other that Estella. This makes people feel sorry for Pip because on top of how unfortunate hes life is he has a crazy Oman bullying him into playing with Estella and getting rude comments made to him. Dickens makes Estella sound like a mean, stuck up person. He writes Why, he is a common labouringly boy by saying common it suggests that she is upper class. She thinks she is better than Pip because she says boy as if she is older than Pip when really she is the same age as Pip. Estella sounds very rude, an example of this is ah, but you see she dont, children in those days were meant to be seen and not heard. What she said was very rude seeing as she is a lot younger than the man she was talking to. Mr. Bumblebees was very shocked by what she said and he got annoyed with Pip because of it. This makes us feel sorry for Pip because he is getting bullied by Estella but he doesnt really realism it and he is getting really hurt by the things she says. Pips initial reaction to Miss Having and Estella is that they are both a little odd and spoilt. He really likes Estella because he thinks she is pretty, it says this in chapter 8 she is very pretty, he says this to Miss Having when she asks him what he thinks of her. I think he thinks Miss Having is an odd person and he is scared of her, as anyone his age would be. This also makes us feel sympathy for Pip because he likes a girl that is really horrible to him. It is wrong that Pip likes her though because she isnt nice to him at all its Just her looks that appeal to him. Pip was really affected by the end of chapter eight because he got really got upset by what Estella said. Estella said that he was a common labouringly boy and said a lot of other things that were quite nasty. What she said made him think he was common and he never really thought about it before until she mentioned it. By the end of it he felt like he really was common which made Pip really upset and knowing e has to come back in six days most likely made him even more upset. Finally Dickens has used a number of techniques to make us feel sympathy for Pip and they all have worked well, some relate with himself when he was younger. I think Dickens has been successful because when I read the two chapters I did really feel sorry for Pip. People do things to Pip which are Just morally wrong, adults threaten him even though he hasnt done anything wrong and he gets belittled by people his own age. I have an image in my head of him and it is off small boy that is just really unfortunate in his life, this is what Dickens wanted us to imagine.

A contrast between opposing values in Hard Times Essay Example for Free

A contrast between opposing values in Hard Times Essay ? The first incident that involves the circus and circus people that I would like to talk about, and that clearly demonstrates the contrast between opposing values is on page 34 onwards. Mr Gradgrind, the absolute pinnacle of fact in the book, goes to visit the Circus people to tell them that the fanciful Sissy Jupe can no longer attend the school. I have chosen this incident as it involves more of the circus characters than really at any other time, secondly the description of the circus shows just how far from the world and values of fact it is. The circus is the best symbol for representing the alternative to all that is fact in the book; the circus is seen as a world of mystery and wonder almost of magic and idea that completely goes against the idea of facts. Gradgrind and Bounderby go to see Sissy’s father only to find out he has abandoned his daughter, it is then that Mr Gradgrind decides on the possibility of taking Sissy to his own home, and educating her in the ways of fact from there. Mr Bounderby and Mr Gradgrind get together during this time and have a conference of opinions based upon the fact and laws they have always followed, Gradgrind being softer at heart but still the fact machine at this point wants to take Sissy home, but Gradgrind can be heard to be saying â€Å"No. I say no. I advise you not. I say by no means.† He does this as he is the metaphor for fact throughout the book and to take someone else’s child on as your own and teach them the ways of fact, when she has been living the life of fancy for many years seems absurd to Bounderby. However, at the same time that Gradgrind is having a debate about the matter with Bounderby, â€Å"†¦the various members of Sleary’s company gradually gathered together from the upper regions†¦Ã¢â‚¬  The circus people are described in this chapter as being â€Å"†¦remarkable gentleness and childishness about these people, a special inaptitude for any kind of sharp practice, and an untiring readiness to help and pity one another, deserving often as much respect, and always as much generous construction, as the every-day virtues of any class of people in the world.† Unlike the likes of Bounderby and Gradgrind, who cannot be described as emotional or passionate or anything of the sort just â€Å"plain hard facts† Sleary in this chapter is the real philosopher on the ideas of fancy he even says it â€Å"†¦I lay down the philothophy of the thubject when thay to you, Thquire, make the betht of uth: not the wurtht!† This chapter clearly show the contrast between opposing views and values in Hard Times, the circus shows a whole new world but is representative of a whole new set of values the ideas of fancy are represented in the themes and scenes with the circus. The thing is with the circus is that it has almost dreamlike status things happen there that cannot happen anywhere else and it appears to be an almost illusion, for example â€Å"The father of one of the families was in the habit of balancing the father of another of the families on top of a great pole.† These are the things that you would only expect to see in dreams and so therefore it is fanciful, a complete contrast to the ideas of fact displayed throughout the rest of Hard Times. A good example of how far opposed to the ideas of fact the circus is takes place on page 12 and 13 when, Mr Gradgrind the keeper of facts and bringer of knowledge to Thomas and Louisa Gradgrind’s lives, catches them sat watching the circus people, he takes the view that the circus was bad news, as it opposes everything he stands for â€Å"Now to think of these vagabonds attracting the young rabble from a model school.† He sees the idea of the circus so fanciful and alien to him, he feels that to watch a circus act would be to debase himself or a well-educated child. It even says â€Å"his own mathematical Thomas abasing himself on the ground to catch but a hoof of the graceful equestrian Tyrolean flower act!† This sentence shows what the opposing values are fully in Hard Times, it is obvious from the statement that anything mathematical or just plain practical is in direct opposition to the fanciful nature of flower shows and the like. Thomas when caught does not even protest but knows that to obey his father’s principles he must â€Å"[give] himself up to be taken home like a machine.† That is clearly the way of fact to be machine like, and that is why the circus is such a good opposition and symbol of everything fact isn’t, Gradgrind condemns circus like ideals when he says â€Å"In the name of wonder, idleness and folly!† apparently to dream or to be imaginative is lazy in Gradgrind’s books. Which is why the factual way in which Gradgrind has based his life upon is so offended by the ideas of fancy as he doesn’t like the thought of being considered as being not lazy but that there can be other ways to work hard in life. Gradgrind is so full of the idea that facts are right, that he even questions and believes that with all these thoughts at the disposal they could make the wrong decision, when surely it isn’t a case of right and wrong? Just opposing views and they do oppose each other! Gradgrind does say though â€Å"Thomas though I have the facts before me I find it difficult to believe that you with your education and resources should have brought your sister to a scene like this.† This makes it seem as though education is supposed to kill the imagination, which clearly conflicts with the views of the circus, which believe that you should work hard and perform in life, but never let the dreams die. A contrast between opposing values in Hard Times. (2017, Nov 15).

International Financial Reporting Essay Example | Topics and Well Written Essays - 3250 words

International Financial Reporting - Essay Example Moreover, in order to explain the concept, certain examples have been discussed for a hypothetical organisation - Noka. IAS 16 deals with recognition of property, plant and equipment; and their depreciation charge calculation. It also provides guidance on how to determine the carrying value of these assets and the treatment during disposal of these fixed assets. In order to facilitate the users in reading financial statements, IAS 16 standardises the recognition, measurement, revaluation, depreciation and de-recognition of property, plant and equipment; and provides guidance on accounting treatments. The standard provides flexibility to organisations in terms of subsequent measurement of value of the fixed asset. So, it can either be stated at original cost (less impairment and depreciation), or can be revalued to state its fair value (the current market value). The organisation must state the method used to measure the asset in the disclosure section of the financial statements. This would assist users in determining whether the original cost is used to value the asset or if the market value is used to provide a fair value closer to the current market value. ... The organisation must state the method used to measure the asset in the disclosure section of the financial statements. This would assist users in determining whether the original cost is used to value the asset or if the market value is used to provide a fair value closer to the current market value. But, in order to assure the users that revaluation was done properly, addition disclosures are required including date of revaluation, method used to revalue, if independent valuer was involved, etc. The implication of carrying value is significant. This is because in most circumstances, organisations would opt to incur additional expenses of revaluing the asset only if they are confident that revaluation will assist in increasing the carrying value of the asset. This directly impacts the balance sheet. Depreciation The depreciation is the charge on usage of the asset; and is treated as a non-cash expense. At the end of the year, depreciation is charged to the income statement of the organization. IAS 16 requires that organisations use a depreciation method consistent to the useful life of the asset (the period in which economic benefits can be obtained from the asset). The method used to calculate depreciation may vary. In addition, organisations are allowed to change the depreciation method but it has to be documented under disclosure section along with reasons for the change. The implications may be significant. If reducing balance method of depreciation is used, the company will be able to depreciate the asset faster in the beginning as opposed to straight line depreciation that requires same depreciation charge for the entire useful life of the asset. De-recognition or

Race and Whiteness Essay Example | Topics and Well Written Essays - 1000 words

Race and Whiteness - Essay Example From the discusses it is clear that a concept of whiteness is based on custom and tradition, but it greatly undermines social and scientific principles of race. Racism is a representation of a historical evolution and there is a great degree of the inferiority of an â€Å"other† â€Å"race†. Racial practices are usually degrading and representatives of ethnic minorities are afflicted by negative practices of racism. There are many factors influencing deepening of discrimination practices, such as customs, traditions, social and political factors and even law. Racism by intent in the run of time transformed different cultures and social practices and underlined the superiority of white ethnic groups. This paper stresses that the social construct of race and whiteness are considered in relation to Brazilians and Asian Americans. From the very beginning, Brazilians differed from native inhabitants by skin color and were often referred to as browns or blacks. Race classification on the basis of the skin color differed greatly from color of race. Starting from 2000 in Brazil there was a lot of complaints concerning discard of color of skin and there was a need to introduce numerous social and political changes in order to constrict social gap between native inhabitants and ethnic minorities. There are evident controversies between â€Å"ideological† and â€Å"scientific" positions and representations of race.

Nietzche watts lao-tzu Essay Example | Topics and Well Written Essays - 1750 words

Nietzche watts lao-tzu - Essay Example Plato viewed the role of education differently as compared with other philosopher who contributed on what education can give that distinguishes it distinctly from other experiences that can be acquired. Plato had a strong belief that education was peculiar in that it was able to prepare learners adequately for future life. This proposal by Plato has faced several rebellions by other philosophers such as Dewey and Rousseau who are considered the modern philosophers on education. Even though the modern philosophers have been opposed to the contribution of Plato, his arguments are still considered to be in context in the 21st century. Plato asserted that education has several concepts engraved in it that is essential in making an individual cope with the future given that the future is uncertain. Plato considered concepts such as reason, goodness, virtue, dialectics, ideas, sense of perception, metaphysics, motivation, art as considered to be a medium of instruction, and truth to be the guiding principles that one acquire through education and are of significant help in the future (Watts, 67). The fact that education according to Plato helps in preparing one for the future, Plato in this understanding came up with a philosophical statement that relates education, society and the individuals. In this case, Plato proposed that whereas the society is comprise of classes, the individuals in the society are comprises of faculties that are hinged on the kind of training they acquire through education. According to Plato, education is able to impact one or more of the above-mentioned concepts on the societal individuals and this reaches a critical level that they make the person fall in three of the following classes; rulers or the guardians, the warriors, and the workers and artisans (Watts, 77). He then related these classes to the three faculties that he proposed are in the society; the ruling class corresponded to the intellect faculty, the warriors occupy the facult y of feeling while the workers and the artisan are all camped in the faculty of desires and appetites. Nietzsche perspectives on Education Nietzsche on the other hand was a philosopher from German and was proficient in poetry, philology, composing, and analyzing culture through critique. Nietzsche in this regard wrote several materials that related to morality, contemporary culture, philosophy, religion and science. He also contributed on education and this is where we draw his perspectives on what his views were in relation to the achievement of education to an individual. Nietzsche just like Plato had a different view considering what education can achieve and in his opinion, he proposed the following. Nietzsche put it forth that education can achieve to make it possible to know the basic and original material of ones being. He said that through education one is able to realize the potentials that otherwise will remain completely unnoticed, through his literature on education Niet zsche asserted that without education, one is unable to know their worth and can be mistaken not to be worthy. He continued and said that education is a liberator in this context; it liberates one from ignorance, the ability to avoid vagueness, and irrationality. Through education explained Nietzsche, one is able to avoid equivocation of issues and will

Digital Marketing Presents Opportunities And Challenges

Digital Marketing Presents Opportunities And Challenges Digital marketing entails interaction with known customers and others in the marketing channel, on a one to one basis, often in real time, to maintain value-laden relationships and to generate a measurable response and/or transactions using electronic network tools and technologies (Kotler et al. 2008, p525). This essay will focus on the discussion of the opportunities and challenges in organizations which are will use digital marketing techniques and discuss the ways that they can plan and implement digital marketing tools in their marketing activities. This essay will also provide two organizations that have introduced and adopt digital marketing. Moreover, this essay will give an analysis of comparison between two organizations which use digital marketing concept. The intention of discussion is to know more about the digital marketing concept in some organizations and also opportunities and challenges of using digital marketing. Besides, this essay also intention to compare which is the best digital marketing strategy. The concept of digital marketing has increasing in many organizations and become more popular and important than before. But there are some opportunities and challenges in order to using this concept in organizations. Many writers has different evaluate in these concept, according to Klososky (2012, p45) Social technology tools are multi-faceted, and have the ability to change an economy that it is in chaos to one that is manageable and predictable. That statement means that digital marketing has opportunities and challenges in business to manage and helps some company to increase their sales by using social technology, such as social networking, social media, and social relevance. More specifically is explained by Cristian et al. (2008, pp983-4) digital marketing opportunities for organizations is separated to pull and push digital marketing, which is the pull digital marketing are includes blog marketing, advertising and personal interactive television and smart advertisement on th e web. While the push digital marketing is includes mobile marketing, text messaging marketing, multimedia messaging and the broadcasting of recent news (RSS). Moreover, Rapson (2010, p25) stated A common problem in this wealth of technology options, is choosing the right solution for specific marketing goals and data needs. This statement tells about the challenges of digital marketing which is understand digital marketing tools and common trend using different tools. In overall, many people agree that opportunity of digital marketing is in electronic channels which are related to social technology and the challenge is about its digital marketing tools. These points of view is clearly clarified what is opportunities and challenges that facing the digital marketing. Digital marketing tools are considered so valuable in marketing activities, especially in some organizations that depend on technologies. Moreover, digital marketing tools give many advantages to company, for example to increase their revenues. As though stated by Klososky (2012, p42) Social tools can be compare to web itself, inasmuch as there are benefits for every department. There are some ways to get those benefits. First, building productive websites is important for people to get an admission to record information or control business dealing; it is purpose to not maximize a continuous connection (Klososky 2012, p42). Second is providing social technologies, it is needs to make good relationship with customers and increase their beliefs (Klososky 2012, p42). Third, mobile tools is necessary for all of organizations because can make an easily communication with clients (Klososky 2012, p43). Fourth is driving online traffic, it is very important to make business more famous and t here are so many steps to do it, for example some advertising, make a consistent and brand for the business, add favorite bookmark for business website and others (Klososky 2012, p43). The last is measurement systems is use for make decisions for results in organizations and it is to make an improvement (Klososky 2012, p43). In addition, digital marketing tool is growing and it is often used by organizations such as crowdfunding, crowdsourcing and crowdscribing, the similarities between them is their ability to tap into the power of the internet herd to get work done less expensively, faster and with more innovation (Klososky 2012, p44). Many organizations has adopt digital marketing concept to their marketing activities and they also have introduced it. There are some way to introduce such as by using E-service, it is explained by Rowley (2008, p527) E-service is deeds, efforts or performances whose delivery is mediated by information technology (including the Web, information kiosks and mobile devices). Such e-service includes the service element of e-tailing, customer support and service, and service delivery. E-service is often used by many organizations for examples newspapers are apply their information by technology tools and it is called digital newspaper. Newspaper has made an alteration from traditional print medium to use internet, this change is also influences the concept of digital marketing because in newspaper there are also an advertisement, banners (or leader boards), expanded banners, skyscrapers, mid page banners, etc. (Christopher 2008, p10). Organizations that had been adopted digital marketing on their digital newspaper are Sinchew-i.com which is the official website of Malaysias biggest Chinese media group. Sin Chew Media Corp. Bhd, and the one of most popular Chinese Web sites in Southeast Asia (Christopher 2008, p10) and the second is Gatehouse which has many community newspapers approximately 480. First, Sinchew-I.com has five different tools to introduce digital marketing which are AdText (hyperlink advertising on editorial-based homepage), AdWord (a dynamic editorial tool that delivers advertising inside the text of news content), AdQuote (expanded version of AdWord concept but placed at the bottom of the article) and AdTrend (an automatically displayed advertising message based on the current market trends and nature of the business news and current events: the stock market, banking, sports, weather) and last is AdBlog, the most recent format in which one advertiser per month is featured. This AdBlog can include video/flash with advertising and blog articles, etc ( Christopher 2008, p10). In the other hand, the Gatehouse is specifically on websites and use web 2.0 as their platform. Moreover, they also use Zope which is an open-source content management system, for the relaunch as well as to build dozens of others (Christopher 2008, p10). Gatehouse is also like google and uses it to advertise their website to make many visitors. They also participate in Google print program and google hotjob recruitment network.