The introduction to macroeconomics, bubbles, and investment behaviour Essay

The introduction to macroeconomics, bubbles, and investment behaviour in Part Three of the module, Bubbles and the economy - Essay Example Therefore, the accounting identity can also be explained as: As shown in the above graph, the savings (s) in a closed economy is always given exogenously. The investment in the market (I) is a function of rate of interest (r). The cost of borrowing money in an economy becomes high when the lending rate of interest is elevated. Hence, investments made in the market are adversely related to the lending rate of interest. At equilibrium rate of interest (re), national savings and investment remains equal to each other (S=I) (Baddeley, 2005). When the aggregate savings in an economy rise up to 30% of GDP, the investments can be expected to increase (to match savings) only if the lending rate of interest (r) falls below the previous equilibrium rate (re). (ii) The supply side policies are implemented in an economy for increasing productivity of its real national output, during a state of recession. These policies help an economy to grow sustainably, without the persistence of inflation (Bernanke, Gertler and Gilchrist, 1996). However, economic growth cannot be successfully achieved solely with the essence of supply side policies. The supply side approach is rendered successful with presence of adequate aggregate demand in the economy. If the housing confidence slumps and the economy suffers from recession, then the individuals desire to save more and spend less. As a result, if the monetary authorities of a country lower interest rate and stimulate investments, then aggregate production related activities will rise, but the output produced will not be sold adequately due to lack of consumers’ demand (Mankiw and Taylor, 2006). (iii) The problems associated with a supply side approach can be resolved with the help of expansionary fiscal policies. These policies will enable the government authorities to stimulate the level of aggregate demand. Such initiatives can be undertaken by the fiscal authorities by way

Marketing Plan Essay Example | Topics and Well Written Essays - 3000 words

Marketing Plan - Essay Example This essay is aimed at discussing the various aspects of and issues related to marketing plan. In this context, first the role and nature of a marketing plan is discussed. Next, the structure of a standard marketing plan is explained. After that, there are the sections in which elements of marketing plan are elaborated sequentially. The links between marketing plan elements are discussed in the following section. In the section of assumptions, there is a discussion related to the common misconceptions regarding the marketing plan as a whole. Reputable journal, text, and Internet based sources have been used throughout the paper. Role and Nature of Marketing Plan What is a Marketing Plan? A marketing plan is used in backend and management operations. It is aimed at the potential consumers and also the public at large. The complete plan is kept like a guiding document for personnel involved in advertising, sales, and marketing. Marketing plans contain the results obtained by research, which help in identifying tactics and strategies for communicating with the consumers. Hence, it must have an ethical but persuasive orientation. (Solomon et al, 2012; Kang et al, 2002) What is the relationship between a Marketing Plan and a Business Plan? Marketing and business plans have a significant number of elements and subsections in common. In drafting the overall strategic plan, both marketing and business plans may lead to common or overlapping implications. Business plans cover market analyses and marketing research in the context of the whole business including the fiscal affairs. Nevertheless, there are certain differences between a marketing plan and a business plan. Differences between a Marketing Plan and a Business Plan Marketing Plan Business Plan The plan is intended for the potential customers and general public. It is implemented by the personnel involved in sales, advertising, distribution and promotion. (Solomon et al, 2012) Potential investors are shown a bus iness plan as a first step to help them decide whether or not to invest. According to Mason and Stark (2004, p. 227), â€Å"Bankers stress the financial aspects of the proposal and give little emphasis to market, entrepreneur or other issues.† Marketing plan has a customer or consumer oriented persuasive approach (Cravens et al, 2009) Business plan has a financier or investor oriented persuasive approach (Chen et al, 2009) The planner must concentrate more on preparing milestone charts, sales forecasts, marketing research, etc. (Wood, 2011) The planner must refer to the marketing plan but adequately cover the financial information and other details related to the organization. It must be used along with the business plan to draft the strategic plan Business planning is precondition to strategic planning Helps in the processes like â€Å"product line asset development† (Kang et al, 2002, p. 203) Helps in a variety of processes such as management accounting, cash flows, preparing financial statements, etc. Table – 1: Marketing Plan versus Business Plan What are Marketing Plans used for? The marketing plan includes various kinds of analyses to determine marketing strategies like pricing, distribution, and perks that are to be rewarded to the salespeople and retailers who generate better sales for the company. Further, strategic incentives are provided on the basis of market plans. These incentives include different types of offerings, special packages, free gifts, etc. to retain the existing clients and/or attract new clients particularly for service-oriented businesses. In sum, a marketing plan is drafted for achieving sales & distribution targets, winning customers, achieving competitive advantage,

The rate of reaction Essay Example for Free

The rate of reaction Essay The experiment will end when I take the third reading of 30cmisodium thiosulphate solution, 20cmi water. The safety goggles are the most important aspect of the experiment, as it is crucial to maintain a high standard of safety when working with corrosive chemicals. Diagram: Graph to show predicted appearance of results Method and Results I carried the experimental investigation as stated in the Plan section, under Experimental Procedure. Having gained satisfactory results, I have arranged them in a table. Table of Results cmi of Na2S3O2 Time taken (seconds) Mean results solution 1 2 3 (average). To draw my graph, I used the reciprocal function on my calculator on each of the averages, to gain a number that can be used to draw up a graph to show direct proportionality between 1/Average Time taken and concentration of sodium thiosulphate. Conclusion In terms of drawing a conclusion from my results, I can say that they compliment my prediction, as shown by the similarity in my prediction graph (a straight declining line), and also generally in the description of inverse proportionality. As anticipated, inverse proportionality is shown between the concentration of sodium thiosulphate and the time taken for the solution to turn opaque. Na2S2O3 + 2HCl 2NaCl + S + H20 + S02 Scientific Explanation As the hydrochloric acid particles and the sodium thiosulphate particles collide into each other solid sulphur is given off and gives the solution a yellowish tinge. After a while this sulphur builds up and clouds the solution to the point when the cross beneath becomes cloaked. The particle collision theory states that the more of a particular chemical there is present in a solution (in my case sodium thiosulphate) then the more it will collide with the other particles (the particles that concern my experiment are the hydrochloric acids). Therefore, if a 100% concentrated solution of sodium thiosulphate is added to a solution of hydrochloric acid, all the particles will collide more often, and the reaction will occur quicker than a 60% sodium thiosulphate 40% water solution, because the 40% water has replaced what used to be sodium thiosulphate, thus reducing the speed of the reaction. Another point to make is the time of the reaction increased rapidly towards the end of my results. Evaluation The results I have obtained were of quite a high general standard, however there were a few minor anomalies. One anomaly was the second result for 30cmi of sodium thiosulphate solution. Here is the extract from my table of results, with the anomaly shown in italics. 30 472 506 493 490 It stood out as being an abnormally long time taken, in comparison with the other two results, and also seen in the effect on the graph of results it has. This could be for a number of reasons. Firstly, going back to the planning section, there is the issue of temperature control, which was left aside despite being recognised as an influencing variable. If left uncontrolled then chances are that anomalies like the above will occur. I have decided not to ignore this result because the unconformity is only slight Also, the slight inconsistencies between each group of three results are also down to the fluctuating room temperature. These errors however, are only slight and therefore are not to be worried about in terms of being insufficient for drawing solid conclusions. I still believe my results to be reliable, as they average out quite impressively. There are minor differences in each of the sets of three readings that were bound to occur due to uncontrolled temperature. The differences are merely fractional, and the averages worked out give a very clear picture of ideal results. There were bound to be the odd fluctuation in the length of time for the solution to turn opaque because of human error. Every time it is myself that judges when the solution has turned sufficiently opaque and I stop the watch systematically. Because my reflexes are not perfect it may seem like one measurement was longer than another, when it was only my slow reactions that distorted the result slightly. The particle collisions theory may also be to blame because if the region of the solution directly above the cross X had a larger amount of collisions, just by chance, then the reaction time would be quicker than average. I would suggest that in further experiments, the variable of heat be included, and the pair who carries out the investigation work as a team and play different roles in the experiment. One of them should time the reaction as I did, and the other should keep the temperature as constant as possible. That way anomalous results will be almost entirely eradicated. The other two issues of human reflexes and of chance of areas of collision are unfortunately uncontrollable. Some kind of computer will surely be able to judge when a solution has turned opaque better than a human being. To test my conclusion, I would suggest doing a similar investigation, but with magnesium strips instead of sodium thiosulphate. It will be easier to judge reaction time because one would only have to stop the watch upon seeing the magnesium completely dissolve. Also using magnesium in an experiment is a lot simpler and cheaper than using sodium thiosulphate. 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Politics Essays Fundamental Principles Of Legitimate Power

Politics Essays Fundamental Principles Of Legitimate Power There are various theories about what can make power legitimate. Doyou think that one theory is more convincing than others? To understand thefundamental principles of legitimate power and governance one must look at theperiod surrounding the Enlightenment because this is the time when theindividual became an important entity, no longer was the individual part of aclass on a hierarchical structure, with power relating to that class. Thenatural rights theorists aim was to show that man was born in a state ofnature, and given the right to do as he/she wished, but this was sacrificed tothe governance of the land, i.e. that the rational man would give up thestate of freedom, for the security and safety of law, governance andsovereignty. Locke, said instead of giving up the right to do absolutely anythingto the sovereign entity, the rational man would put these rights in the handsof a government that holds the good of the people as supreme. Locke did notbelieve that man gives up all these natural rights, but each person retainedrights that were regulated by a political government, to ensure a person wouldnot use their rights in a way that would harm the rights of others. Lockesversion of rights was one of the first models of inherent rightsto life, liberty, freedom and property, where the king was there at the will ofthe people and benevolent in nature. Theinfluence of John-Jacques Rousseau is also important, although not strictlyspeaking a natural law theorist, in the sense of earlier theorists. The mostimportant difference that Rousseau discussed in his works was that governmentand reason has not protected man but enslaved man, whereas in thestate of nature these rights were upheld in a paradisiacal state. One ofRousseaus most interesting critiques of government and law was in the SocialContract where man was originally free but in society everywhere inchains. Therefore he believed instead of giving up ones freedom to agoverning body, it needs to be reclaimed by man but this did not meanreclaiming the paradise of Rousseaus state of nature. Instead these rightsshould be inherent to each man and that the government created is not only forthe good of the people but should be determined by the will of the people.Rousseau believed people should bepart of the regulation of the government and law; otherwise the government thatis essentia lly corrupt will take away these rights. Popular involvement makesit impossible for these rights to be taken away by the government. There wasan assumption of equality between men and basis rights to life, liberty,freedom, and protection from the corruption of absolute government (i.e. rightsto freedom of speech and assembly) and the right to a fair trial and independentCourt of law. This argument stems from the authors of the AmericanConstitution where the rights embodied in the text were self-evident becauseall men were created equal and given certain inalienable rights, which areafforded to all persons of the globe, state borders have no impact on theserights. The writers claimed these rights came from God. Other theorists haveargued we have these rights merely because we are human. This argument is stillone used in the 20th/21st Century as it is the easiest topass off, however there is no real moral justification for upholding theserights, therefore how can one say we must keeps these rights in the face of abreach or dissolution of them. Hobbes state of nature sets up that; Men by nature [are]equal: Nature hath made men so equal, in faculties of the body, and mind Foras to the strength of body, the weakest has strength enough to kill thestrongest, either by secret, machination, or by confederacy with others, thatare in the same danger with himself; henceall are equal in fear of death. Therefore if this fear was set forth by themonarch then this first law of nature legitimizes the citizens to revolt andset up a form of governance that ensures this equality and that their basicrights are upheld. Therefore if the citizens of Hobbes state are able to gettogether to give the power of law and governance to a single individual theybelieve will uphold the common good; then in the same coalition they can deposethis individual if in fact their powers of governance and over the law aremisused. This state of nature is hypothetical in order to provide a theoryjustify the fair governance of a small section of society, or as Hobbes prefersa monarch. It is the equality of fear, the individuals right to everything inaddition to subsequent laws of nature which provides the conditions for asocial contract to ensure security and equality of mankind. There are some problemswith Hobbes social contract which is giving the power of rule and governanceto a single individual; this is arguably giving this individual uncheckedpower. Therefore if every man has the right to everything and then ifthe state of natures equality is no longer the case because the power of lawlays in an individuals hands where this individual has the wants and desiresto obtain everything. Hence there will be a tyrannical government, rather thana government for the common good. Utilitarianismis not a theory of individual rights, instead it views that the good of thecommunity was a more important aim for the law and government ruled by thepeople. Theorists such as Edmund Burke believed that rights werenatural, including life, liberty and freedom but this theory was in theabstract, therefore they should be given by society for the good of its people,because these rights cannot be universal otherwise there is no place forcultural diversity. Burke is one of the first theorists with the culturalrelativism argument; the critics of universaljustice have further advanced this in the 20th and 21stcenturies. Burkes move to reject universalism was the first chip in theseinherent rights that ensured legitimate power; how canrights be inherent if they not available for everyone, because a culture deniesthem. Jeremy Bentham advanced this. His theory held that were no naturalrights the government for the good of society a form of utilitarianism,afforded rights. Therefor e Benthamsrights were legal rights where one can do whatever one wants as long as the lawdoes not prohibit it i.e., rights are not stemming from the individual but thestates and the powers of governance (Positivism). The problem with positivismor this early form of rights from utility is that the law/governance are thebasis of rights and because there is no greater principle of just andlegitimate governance. Themodel of Marxism states that it does not regard the individual as having anyhuman rights, instead it is for the state to set theneeds of the individuals, i.e., it is not the good of the individual that thestate upholds but the good and the needs of the state. Marx considered law,justice, freedom and democracy as ideas and concepts that are determined byhistorical and sociological circumstances and irrelevant. Instead a personsessence was the potential to use ones ability to the fullest and satisfy onesneeds, thereforepromoting fundamental rights as rights of well-being and satisfaction of theindividual. These rights would involve social and economic rights, which isthe only way to ensure legitimate power and justice. Marxs vision turned outto be idealistic and failed in reality. Themost legitimate version of power and governance seems to be a mixture oftraditional utilitarianism that affords a method of human rights. Modern utilitarian theorists have extended the theory of Bentham,but have put it in more modern terms. Instead of maximising the pleasuresand desires of the individual the government would be maximising thegeneral welfare of individuals therefore minimising frustration of wantsand preferences. Therefore what one cansee is that the governing bodies must put the general welfare first, yetminimise the individuals needs therefore causing a conflict of rightsbetween what is in the name of the society and what the individual wants. Theproblems with this theory is it is socially constructed, there is no autonomyof being and no argument for universal rights that transcend all cultures andreligions, therefore falling short of what is needed for an all-encompassinghuman rights theory, as the general welfare can be different fordiffering cultures. Rawls i n his thesis for engendering human rights statesthat justice is the prime basis ofall government and to ensure justice human rights are the obvious means and endto ensure justice is fulfilled. Rawls theory is based on a few key ideas,which are the rights and duties of government/institution of society andthe burdens and benefits of citizens co-operating. Rawls bases histheory that each individual has an inherent and inviolable being set in justice- this being cannot be overridden for the welfare of the society. This theorydoes not fall foul to the arguments against modern utilitarianism. Rawls doesuse the social contract fiction of Hobbes and Locke, however the basis ofmoving from ignorance (state of nature) is reason and this reason set up onprinciples of justice that his social contract is based upon. These principlesare; 1) that each person has basic rights and liberties in accordance withfreedom; and 2) there is distributive justice, where inequalities arerestrained by the great est benefit of least advantaged and each personhas the condition of fair equality of opportunity. These principlescannot be derogated for the public good and liberty is the supreme principle.Rawls theory is very important when looking at human rights theories becauseit begins to tackle the universality of human rights based on justice, as wellas the inequalities apparent in society. The theory does have flaws but it oneof the more comprehensive theories setting up basis rights and freedoms andensuring legitimate power because it protects the individuals democraticrights, because it is a more complex analysis of the nation-state and asAndrews and Sayward argue: The modern Western approach to political legitimacy links it withthe opportunities for democratic participation, so that democracy is now seenas a necessary condition of political legitimacy In theories of politicallegitimacy a stereotype of a domestic state with its own domestic populationcan easily emerge. Yet the actual histories of state are much more complicatedthan that. Bibliography: Andrews Saward, 2005, LivingPolitical Ideas, Edinburgh University Press Edmund Burke, Reflections onthe Revolution in France, (Hackett,Indianapolis, 1987) ed. J.G.A. Pocock Thomas Hobbes, Leviathan, Ofthe First and Second Natural Laws, and of Contracts excerpts from Ed.Joseph Losco Leonard Williams, Political Theory: Classical Writings,Contemporary Views, (St. Martins Press, New York, 1992) Peter Jones, Rights: Issues inPolitical Theory, (Palgrave, Basingstoke, 1994) John Locke, The Second Treatise ofGovernment , excerpts from Ed. Joseph Losco Leonard Williams, PoliticalTheory: Classical Writings, Contemporary Views, (St. Martins Press, NewYork, 1992) Ed. Joseph Losco Leonard Williams,Political Theory: Classical Writings, Contemporary Views, (St. MartinsPress, New York, 1992) Marx Engels, 1952 edition, TheCommunist Manifesto, Moscow, Progress Publishers John-Jacques Rousseau, SocialContract, Discourse on the Origins and Foundations of Inequality AmongMen excerpts from Ed. Joseph Losco Leonard Williams, PoliticalTheory: Classical Writings, Contemporary Views, (St. Martins Press, NewYork, 1992) Shestack, The PhilosophicalFoundations of Human Rights from Ed. Janusz Symonides, Human Rights:Concepts and Standards, (UNESCO Publishing, Aldershot, 2000) John Rawls, The Theory of Justice (OxfordUniversity Press, Oxford, 1971)

My Short Story Essay -- essays research papers

â€Å"Private 062!† â€Å"PRESENT SIR!† Private Robert replied. â€Å"Private 063!† â€Å"PRESENT SIR!† Private Wallace shouted. Master Sergeant Olsen was taking attendance at the Base Camp Zan. He was in charge of a platoon of eighty Privates, fresh from the Recruit Camp. Soon, he had accounted for all his soldiers. Coming fresh from the mainland with no knowledge of the army, none of his soldiers could outdo him. Or so he thought†¦ â€Å"Time for your short morning walk, Privates!† â€Å"YES SIR!† The privates started on their ‘short morning walk’ which turned out to be twenty kilometres long. Delta, one of the privates, was the first to finish the run with an astonishing timing of one and a quarter of an hour beating the Master Sergeant by five full minutes. Master Sergeant was infuriated. â€Å"Private 019! Meet me at 0645Hours!† â€Å"Hmm...† Corporal Nelson looked through Private Delta’s particulars. â€Å"Go, run on that running analysis machine there!† He pointed on the steel metallic structure occupying only a small area in the room. Delta walked to the machine and started running. Indeed he ran at an unbelievable speed. But that awesome speed was short-lived. It lasted only two minutes. Now Corporal Nelson was getting interested in Delta’s talents. He sent Delta for a health check and at the same time, promptly sent a proposal to Prof Daniel Frank. Prof Daniel Frank is a scientist. He had just invented something named as the LSSE (Light-weight Self-Sustaining Energy) suit. The...

Julius Caesar Essay: Decision Making in Julius Caesar -- Julius Caesar

Decision Making in Julius Caesar Making the right decisions is an ongoing struggle for man, because making decisions is never easy, and the wrong decision can lead to endless perils. Decisions must be made when dealing with power, loyalty, and trust. Yet, unlike other decisions, ones that are about these three fields are the most important, due to the risk involved, and because of the consequences that might follow. Power- power is the complete domination of others, and since all men want to dominate those around them, power is valued as one of the most important possessions. Power is highly sought after, thus the correct decisions must be made to obtain it, and this is clearly proven by Shakespeare's "Julius Caesar". Power is obtained much easier than it is kept. "Liberty! Freedom! Tyranny is dead!" The conspirators celebrate the death of Caesar, because they believe that they make the right decision in killing him, and so far they have, but the decision to spare Mark Antony is one that will haunt them in the end. Power is not always beneficial, it can be a very dangerous possession. "You shall not stir out of your house today." Calphurnia makes the decision to persuade Caesar to stay home, and not go to the Senate meeting. When one has power, there are those who want it, like Brutus and the other conspirators. Calphurnia makes the right decision, yet Caesar makes the wrong one by deciding ... ...imminent. In the course of man's life he will have to make many decisions, and some will decide his future. Power, loyalty, and trust, are essential, yet obtaining them is only the beginning, managing them is a much harder task. For one to succeed he must realize how much power is beneficial and how much is dangerous. Loyalty helps one's cause immensely, yet one must not take the loyalty of his followers to the extreme. Trust is one of the most important assets a man can have, he must be careful, and not take it for granted. Man must always be prepared for these times when a decision must be made, because, as seen in Shakespeare's "Julius Caesar", one irrational decision can be man's last.

Drama: A road to heaven

As I entered the auditorium to join the rest of the audience, I noticed the set stage, afraid that the play has began, I soon realised that it was set up like that for a purpose. This gave a very new impact to me and made you wonder what the production was going to be about. It also thought me that the beginning of the play does not have to begin with closed curtains or a frozen image. It gave it a very good way of introducing the play. Although the nurses sitting on the stage gave me a good perception of where the play was going to take place. The play was a musical, and it was portrayed in different styles of music and introduced in a variety of ways such as costumes, which showed creativeness and imagination for the scenes. The costumes allowed humour to be created and helped the song and the message that they were trying to get across. The music surprisingly were songs that can be recognised by any generation as they used the unforgettable and loved tunes of any age and they were altered to combine with the musical and characters of the play. The lighting helped the atmosphere and surrounding of the scene it helped us to focus on particular characters and the musicians were always seen as they had particular lighting in order for them to see the instructions. Musicians were not hidden and were visual to the audience at all times. This however did not affect the play. It was very helpful for us drama students, as we have never been introduced in a play where they were exposed musicians and it gave me an interesting perception and I was amazingly surprised by the fact that such a small orchestra composed and produced such wonderful and powerful music. I noticed throughout the scene how there was a young male nurse who helped with the characters' costumes and props. I believe that the purpose of him being in the scene dressed up as a nurse is to show us the constant of him helping the cast in the play itself and playing the role of a nurse n the story. The music conductor of the small orchestra spoke to the audience on behalf of the cast, he also helped the cast with their timing of the singing and the time they were going to actually sing this exposed his role with the orchestra and the play. The play was very enjoyable to watch and thought me many techniques and gave me a wide range of ideas. The characters were extremely entertaining to watch and I liked the use of music and ideas used by the company. It did not only teach me about techniques and performances but it also thought me something else about life, â€Å"that however old you are you can be as young as a toddler† and the second lesson and important message of all is that â€Å"You cannot always get what you want†. I hope too, that one day that however old I or anyone else gets we will never lose the young ness within ourselves just like the characters of Road to Heaven.