Is Money Neutral Contrast the view regarding the neutrality of money Essay

Is Money Neutral Contrast the view regarding the neutrality of money between Real Business Cycle theory and New Keynesian Theor - Essay Example This is an important question to ask, as it affects the way, the government chooses to govern the economy and the ways to control it. The two schools of thought, the New Keynesian Theory and the Real Business Cycle Theory, debate the answer to this question (Mankiw, pp. 181-220, 2003). Both of these theories have a unique perspective to offer on the answer, and since each raises valid arguments, neither has yet been discredited for the other. The theory of money neutrality maintains that the effect of money does not affect real, inflation-adjusted factors like employment; real Gross Domestic Product (GDP) and ‘real’ consumption (real because they have are all adjusted for inflation). This is because this theory considers the force of money as an inflationary one, with no large implications for the economy in terms of the macroeconomic factors. However, the theory does acknowledge the impact money has on nominal variables, such as price and wages, and even exchange rate o f the country’s currency (Wickens, pp. 199, 2009). These factors bound to gain influence from the money rate of interest, as they have a direct link to money and its circulation in the economy. The two schools of thought that debates on the neutrality of money have opposite views about how far-reaching the effect of money can be in an economy. The classical model states that money is neutral in both the short run as well as the long run. This means that this model considers money to be a neutral force, one that does not affect macro factors such as GDP or employment in the economy. Whereas, the Keynesian school of thought states that a force as strong as money does have its impact on the economy in the end. It believes that monetary policy does have a strong impact on the real economy, if one waits enough time before observing the changes. Each of these schools believes that this effect is visible within the short run for a short period of time, which is a factor on which the y both see eye to eye, but for different reasons. For the long term however, they both offer opposing views (Wickens, pp. 199, 2009). The classical model presents the view that monetary policy cannot affect the real economy and its macro factors, neither in the short run, nor in the long-run (Gali, pp 50-79, 2008). It states that nominal shocks, which are changes in the money supply and money demand, do not have any effect on the business cycle. This monetary policy is one of the tools that a government uses to control the economy, which it does by manipulating the money supply and circulation. According to the theory, when ‘money supply’ changes, it affects price proportionately. However, there is no effect on the real variables in the economy, such as the real interest rate or the unemployment level in the economy. As mentioned above, the classical school does also believe that the money supply affects the real factors for a short period. However, it believes that ver y soon, the price level adjusts to this change in money supply, thus making it ineffective to any real factors in the economy. This is apparent in the diagram below, which shows how the equilibrium reverts to normal after a temporary price shock (Abel and Bernanke, pp. 2005). In other words, it believes that the non-neutrality of money is short-lived, persisting over a period of insignificant length. Thus,

Rethinking Design Education for the 21st Century - Theoretical, Essay

Rethinking Design Education for the 21st Century - Theoretical, Methodological, and Ethical Discussion - Alain Findeli - Essay Example Findeli states that the subject of design was previously being viewed as applied esthetics but now the philosophy that leads design and knowledge related to is that design if a form of application of social sciences (7).3 Findeli argues that instead of seeing design as a particular element that is applied in nature, it should be considered as a form of involved science and this will help in ensuring that both the people who design things as well as those people for who the designs are being made are united together and considered as a part of the design problem and are not left out while the problem is being defined (11).4 He even states that there are ethical issues connected with designing and states that the main task of any designer should be to understand the purpose for which he/she is designing (13).5 He states that purpose for which a particular design is being made should guide all the elements of

Meaningful Social Studies Essay Example for Free

Meaningful Social Studies Essay The democratic principles and ideals of citizenship reinforces effective social studies. By focusing on rights, responsibilities, and respect, a solid base of social studies knowledge and skills develops civic competence. The foundation of four core disciplines, or strands, from the social sciences are: geography, civics, economics, and history. They are the Louisiana framework for social studies. Each of these disciplines offers a distinct perspective for examining the world. Within these strands, other social sciences, such as anthropology and sociology, are incorporated.  §103. Louisiana Content Standards Foundation Skills The Louisiana Content Standards Task Force has developed the following foundational skills which should apply to all students in all disciplines: Communication, Problem Solving, Resource Access and Utilization, and Linking and Generating Knowledge. Through research, activities, discussions, and real-life experiences, children can and will learn that diversity can be positive and socially enriching. A pluralistic perspective involves students building unbiased, open-minded views towards diversity among their fellow human beings. Teachers of this generation have the combined blessing and challenge of helping students make the most of a world that is rapidly changing. Students must develop the perspective that cultural and philosophical differences are necessary and desirable qualities of a democratic community (NCSS, 1994). I chose the concept of â€Å"Problem Solving† for Grade 6-8th in which I will be teaching in the near future. Problem solving identify an obstacle or challenge and uses the application of knowledge and thinking processes which include reasoning, decision making, and inquiry in order to reach a solution using multiple pathways, even when no routine path is apparent. Bringing students into contact with other people’s various views and conflicting values is very important. In the school and local community, therefore, problem solving/inquiry problems are most often found. Questioning and cooperative learning are two strategies that are frequently used to support meaningful learning. Questioning. This is where all learning begins. The types of questions teachers use guide students’ engagement in the lesson (Harvey Goudvis, 2000). The amount of time a teacher waits between asking questions and calling on students for responses, or responding to answers, affects student responses (Rowe, 1996). On average, teachers wait less than a second before calling on a student or responding to a student’s comment, this has been proven by classroom research. If the teacher wait 3 or more seconds before calling on a student or acknowledging a response, this can increase the length of student responses, the number of appropriate responses, and the cognitive level of the responses. Questions should be planned in advance, relate to the lesson activities, and are written into lesson plans. The Learning cycle lessons begin with questions that all students have a chance to answer. All answers are accepted by the teacher even though some answers may explain more than others. In the class such questions engaged by all of the students. In every learning cycle a central key question is planned for the exploratory phase. In a lesson focusing on the concept of presidential elections, for example, the teacher may ask the key question â€Å"What do you have to do to be elected president?† This is an open question that involves each student in thinking about the main idea of the lesson. Development phase, questions focusing student inquiry on the main concepts, skills, and attitudes of the lesson is done during the lesson. During the lesson development, many questions are narrow or closed. Questions are used to help students apply the concept in a new context, during the expansion phase of the lesson. On open questions, the emphasis is greater although some closed questions may be used. Effects of Emphasizing Student Control What students learn is influenced by how they are taught, the quality of individual and social processes occurring in the classroom, and the perceptions and understanding of social studies as a subject to be taught and learned (NCSS, 1994b). Matching Instructional Strategies to Student Needs One aim of education is to help students be self-directing (NCSS, 1994a, pp. 11–12). The amount of student control during the learning process, is a key factor. The categories, in order from least to greatest student control, are expository, guided discovery, and inquiry and problem solving/decision making. An appropriate instructional strategy is chosen by the teacher that matches the student’s level of social studies content, skill, attitudinal objectives, and developmental needs. These instructional methods are very effective and appropriate in helping students attain a particular level of learning objective. Expository, or Direct, Instructional Methods: Lower Student Control Students are provided with little control over the direction or extent of the learning process using the Expository instructional methods, or direct instruction method. Activity lessons using expository methods include the following characteristics: * The teacher controls the situation, providing adequate directions and motivation. The teacher provides ample opportunities to practice the skill in a wide variety of situations. * The teacher supplies immediate and continuous feedback focusing on correct answers. * The teacher uses lecture and closed, narrow questions to control the learning situation but must provide extensive and adequate directions for the student. Expository Guided Inquiry/Problem Solving Discovery and Decision Making Expository methods require external motivation and careful classroom management. Only lower levels of learning: recall and memorization are produced by these methods. Development of the affective areas of attending and willingness to receive information is facilitated by Expository methods. These methods are occasionally useful in the lesson development phase of the learning cycle in which the teacher explains the key idea of the lesson and the lesson focus involves the need for recall (Rosenshine, 1986). Guided Discovery Instructional Methods: Mixed Teacher and Student Control Students are involved in activities related to a concept and form an understanding of them when using guided discovery instructional methods before they are offered or explained by the teacher. A problem to investigate is created by the teacher and he/or she determines procedures and materials needed, but students collect and analyze data and evaluate the results as they relate to the problem. Guided discovery has four characteristics. 1. Students are provided with the time and opportunity to study relationships in data and form a new idea. 2. Students use several activities focusing on one concept, generalization, value, or skill. 3. Students’ main role is to investigate and discover answers to the questions posed, discussing and displaying data to do so. 4. The teacher provides directions and asks questions that help students begin activities with the learned resources selected. From data students can learn inquiry skills such as inferring, predicting, organizing, interpreting, and draw conclusions. Inquiry and Problem-Solving/Decision-Making Instructional Methods: Greater Student Control Inquiry involving significant student control over the direction the lesson takes, is the third social studies instructional method. The Students create a problem to investigate, determine procedures and materials needed, collect and analyze data, and evaluate results. These lessons have five characteristics: 1. Students are competent in basic social studies inquiry skills. 2. Students select problem areas to investigate. 3. Students work in groups, orally reporting the results of investigations. 4. The teacher guides students in defining the problem to investigate and in helping to identify resources. 5. A safe and supportive classroom environment is maintained. Activities using the Inquiry method are intrinsically motivating because students direct their own learning. A first-grader even is likely to use higher thought processes during an inquiry. For example, a young student’s social studies project could involve making a drawing showing where items in her personal materials basket (scissors, glue stick, crayons, etc.) should be placed. After the student lists three or more problems with the basket, such as the glue stick always falling over, the drawing is made. This allows the student to ask questions, communicate information, make inferences, and build prediction. Facts may form the basic content of the narrative, when writing stories about the experience, but students also often make inferences and construct generalizations. In inquiry and problem-solving/decision-making method activities, students are involved in practicing the full range of inquiry skills. Key social studies ideas and skills are carefully selected and is needed because inquiry methods reduce the amount of material covered to a greater extent than other instructional methods. Meaningful learning of generalizations and higher-order inquiry skills, as well as improved long-term memory and transfer of learning, occurs. Problem solving and decision making is what inquiry focuses on mainly. Students plan how they can participate and work together (Dunfee Sagl, 1967; Meyerson Secules, 2001). Conclusion By building on a core of effective practices in teaching and by designing activities and lessons with learning objectives in place, teachers encourage students to use their strengths and to respond successfully to challenges. They support students as active learners in meaningful activities. Focusing on helping young students identify multiple perspectives on issues and problems is a major learning outcome related to global issues. So also is discussing what are good and positive actions, moral positions, and appropriate behaviors. References Research Evaluation Strategies for Early Childhood Education. Research In Early Childhood Education in Handbook Research on the Education of Younger Children. Springer (2007). Retrieved from http://ww.library.gcu.edu.2048/login?qurl.http$3A2F%2F% www.credoreference.com/entry/sprihsei/table_of_contents. Social Studies Content Standards – Division of Adminstration www.doc.louisiana.gov/osr/28v121/28v121.pdf Sunal-Szymanski, C. Haas, M.E. Social Studies for the Elementary Middle Grades: A Constructive Approach, (4th Ed.). Published by Allyn Bacon copyright (2011) by Pearson Education, Inc. The Evolving Role of Teachers In Effective Schools in Springer International Handbooks of Education: International Handbooks of School Effectiveness and Improvement.

Financial Ratio Analysis for HSBC

Financial Ratio Analysis for HSBC HSBC is the Hong Kong and Shanghai Banking Corporation, established by Thomas Sutherland, in 1865. HSBC is one of the leading banking group on the financial market in the world today. In 2000, it ranked fifth largest global company in the world. HSBCs headquarters is located on the HSBC tower, Canary Wharf, London. HSBC bank is a wholly owned subsidiary of HSBC Holding plc. The shares of HSBC bank are not publicly-traded, but those of HSBC Holdings plc are traded on the London, New York, Hong Kong, Paris and Bermuda stock exchanges. The HSBC Corporation has been expanding rapidly with merger and acquiescing and it ranked second with assets for worlds wealthy company. HSBC has $1.861 trillion in assets as compared to Citigroup, which has $1.884 trillion, 31 Dec 2006. Nearly 22% of HSBCs earnings are derived from Hong Kong, which is one of its major operational bases. HSBC has grown into one of the largest global financial institutions with 9,500 offices in 79 countries and identity of HSBC brand have been well recognizing in the worldwide since it established. Known as the worlds local bank, HSBC has a history of helping millions of customers for their financial needs. FINANCIAL RATIO ANALYSIS Financial ratios for HSBC (2005-2009), for the industry of Foreign Money Center Banks are provided below. Industry 2009 2008 2007 2006 2005 2009 Net profit margin(%) 9.0 6.1 20.6 20.7 25.1 11.9 Return on Equity(%) 4.5 6.1 14.9 14.6 16.1 12.6 Return on Assets(%) 0.2 0.2 0.8 0.8 1.1 7.9 Debt to equity 1.38:1 2.23:1 2.12:1 2.33:1 2.90:1 3.68:1 Current Ratio(2:1) 1.05 1.03 1.06 1.06 1.07 1.40 Interest Coverage(times) 1.3 1.2 1.4 1.5 1.7 1.2 Profitability Ratios Profitability ratios are show effectiveness of the business with generating profit. This ratio is popular that assessing a business to assess the amount of wealth generating for the amount of wealth invested. In 2009, HSBCs net profit margin ratio (9.0) is dramatically lower than year 2005. In 2005 net profit margin ratio is the highest (25.1) in other years. The lowest net profit margin ratio appeared as a 6.1 in 2008 and that had brought by global economic recession. There is slightly lower ratio (9.0) on net profit margin compare to its industry (1.9) in 2009. The higher net profit margin explains HSBC has good financial performance and cost of sales lower than other years in 2005. Liquidity Ratio HSBCs liquidity ratios are almost remained the same, between 2005 and 2009. Although, HSBC is slightly less liquided than the average firm in the industry, with both a current ratio and a quick ratio that is lower than the industry average. If a both ratios are lower than its norm (current ratio2:1, quick ratio1:1), it could be face liquidity problem. Capital Gearing Ratios Capital gearing is concerned with the relative sizes of the funds provided by share-holders, on the other hand by loan creditors. HSBCs Debt/equity ratio has dropped from (2.90) in 2005 to (1.38) in 2009. The lowest figure (1.38) occurred in 2009 on debt to equity and its dramatically lower than its industry (3.68). Debt to equity ratio indicated that HSBC is less leveraged than other firms in industry. This lower leverage shows HSBC has good financial performance in its industry. Management efficiency 2010 (1st quarter) HSBC Barclays Industry SP(500) Income/employee 22,226 36,763 66,753 99,430 Revenue/employee 238,067 303,095 396,097 896,721 Net profit margin 14.0 11.6 11.9 HSBC has net profit margin higher than other firms in industry and SP(500). But if we look at productivity of HSBC, and compare to Barclays, its industry and SP(500), its dramatically lower than any other those. Which means productivity is poor and $14,537 ($36,763-$22,226) lower than Barclays productivity of per employee. Therefore, there is a conflict between practice and theory of (productivity and net profit margin). According to theory productivity should be high if net profit margin high, in that case they are not. Perhaps HSBC need to consider about poor fixed and indirect cost. Conclusion We need to consider about market efficiency (which form of efficient market hypothesis). Seems to me, the efficient market hypothesis is involved in semi-strong form, which means we able to use all available public information including firms data (annual reports, income statement, exchange commission etc.), competitors financial situation, macro economic factors etc. . .Before we invest 250,000 pound to buy some share of HSBC. HSBC has strong balance sheet, income statement is perfect except some losses between mid 2008 and early 2009 and price earning per share higher than its main competitors of Barclays, SP500, and its industry. The management efficiency little bit poor but the management performance getting strong and they making their share price uptrend dramatically since the economic recession (in 2008). HSBCs net profit margin was 9.1% in 2009, now it is increased at 14% in 1st quarter of 2010. Which means the management performance is strong and marketing is effective in the market place. The history of share price chart is illustrated the share price increased slightly from at the price of 81.00 GDP in September 2005 till at price of 90.00 GDP in December 2007 and it is peaked up at 100.00 GDP in January 2008. January effect is very strong in HSBCs share price. The share price huge difference between End of December and January of every new a year and since 2005, the investors were making profit (3.00 GDP to 5.00 GDP) on per share in 3 weeks. I would like to recommend that we need to make an investment on HSBCs share with 250,000 GDP before January effect (end of December most of the stock holders want to sell their stocks, because of tax issue). The strategy of stock investment is buy-and-hold. That would be good investment for buying HSBCs shares.

Literature In Modern Times :: essays research papers

CHAPTER 1 INTRODUCTION 1.0 Presentation From the very beginning of human species, literature existed side by side. Human life, in the form of human passions, feelings, loves, sufferings, and human history existed in the literatures. Human legends started with the very stone age, recorded in the stone scripts. It was a human need to communicate the past to the future generations. Poetry, as an art form, has been for many centuries praised, contemplated and has continued to affect man. Man has used poetry to express love and grief, birth and death, innocence and guilt, heaven and hell in a more effective way. In order to achieve such a way of expression the poet does not have any other material at his disposal except language. However in poetry, this language itself, turns out to be the goal of the poet rather than only an instrument for communication. Her/his way of expressing ideas and emotions summarises the poets craftsmanship and creativity. What the poet does is that he/she illustrates and exemplifies how language can be used to achieve the most effective way of expression. Poems deal with universal themes such as love and hate, birth and death, innocence and guilt, heaven and hell, which are familiar to all readers. For this reason, believing in the importance of literature and the contribution of poetry to language teaching and learning, we have decided to use poetry to act as a means to enrich the language awareness of ELT majors. 1.1 Background of the problem Until the late 60’s and early 70’s the teaching of literature in foreign and second language classes was an activity whose justification was assumed to be obvious. Poetry and literature in general became the â€Å"forgotten† man since then, and this can be ascribed to the advent of communicative language teaching. With the shifting emphasis of the study of English for practical purposes, technical or otherwise, as well as an emphasis on the spoken language more than on written language, the role of literary texts in the language classroom and the relationship between language teaching and literature teaching in the EFL context seemed to be totally neglected. Looking through TEFL/ TESL writings in the 70’s and 80’s, one can find little about the teaching of literary texts and hardly anything controversial. Although poetry has been the focus of interest for ages, it has not got its deserved place in English language teaching.

The Doctrines of Kurt Vonnegut Essay -- Biography Biographies Essays

The Doctrines of Kurt Vonnegut The writing of Kurt Vonnegut exhibits perception without restriction and imagination without limitation. It surpasses mountains of ignorance and rivers of innocence to extend emotions for society to sympathize with reality. He incorporates his knowledge and view-points into a variety of literary genres for everyone to learn of his inquiries and philosophies. To draw readers into his sphere of influence, Kurt Vonnegut administers an inflection on the present to state other tenses (Schatt 148). From government to technology, he applies his ideas to all subject matters, allowing all readers to comprehend his beliefs (Nichol 602). The literature of Kurt Vonnegut coincides with his sentiments appertaining to human substantiality, altruistic love, and Post-existentialism. A primary interrogation Vonnegut predominately accentuates is the meaning of human existence; "What is the purpose of life?" (Holland 54) Man must feel that he is "serving some purpose," that his life has substance and significance (55). To find an answer to this question, Vonnegut unwinds into the pages of his works, man's search for substantiality, and his attempt at changing his destiny to obtain answers through power. Human nature possesses man to hunger for control, and without dominance, man feels purposeless. By making him "powerless to alter his destiny in any way," Vonnegut stresses an exploration for usefulness, and the question of life's poignancy is seen w... ...sp; all he could to make our marriage a happy one. EPICAC gave me anniversary poems for Pat- enough for the next 500 years (Vonnegut, Welcome to the Monkey House 284). EPICAC knew that fate did not allow him and Pat to be together. His happiness came from the happiness he gave to her and sacrificed for his best friend. Feelings and beliefs do not necessarily need to come from emotions, and in many of Vonnegut's work, it comes f

What is SAP? Why do we need ERP?

It spoke as simply showing that enterprises have any departments which in order to successful must exchange data between each other in a timely way. It explained the major two software systems are decentralized or centralized (ERP) systems. Decentralized is where data is maintained locally in individual dept. Deeps do not have access to data of other deeps. When an unfavorable situation arises, the company have to check with each dept of a chain to take care of the problem or question.This results in inefficiency and loss of money. Other negative issues may arise such as separate Info sys are developed over time. Integrating data is time consuming and data may be lost in process. Inconsistencies may lead to more wasted time and money. As a result, there will be customer dissatisfaction which leads to loss of repute and revenue. Centralized system is where data is maintained at a central location and Is shared. Individual departments have access to Information of other departments.Thi s data can be Immediately accessed and the unforeseen or unfortunate Issue can be address much quickly without looking to each department to find the solution. Synchronized Information data is therefore timely, Increases productivity, better Inventory management, remotes quality, reduced material cost, effective human resources management, and reduced overheads boosts profits. The video was clear In It's explanation, had the process pictured simply and understandable.Language was at an educated level yet not use over bearing language usage. Microsoft Dynamics AX Is an Interesting vender which did not state or made It clear If they are specialized In selling to the size of a business, but as I looked Into this vender, It appeared that the application can be utilized by any business. According to most videos, they gave me a feeling of leaning more to the medium to large businesses. They offered much online concerning Microsoft Dynamics AX. A lot Is put Into expressing the program.That tells me that they expect more Intense businesses to be Interested. What is SAP? Why do we need ERP? By Johan-Von Behr Other negative issues may arise such as separate info sys are developed over time. Where data is maintained at a central location and is shared. Individual departments have access to information of other departments. This data can be immediately accessed and the unforeseen or unfortunate issue can be address much quickly without looking to each department to find the solution.Synchronized information data is therefore timely, increases productivity, better inventory management, and reduced overheads boosts profits. The video was clear in it's explanation, had yet not use over bearing language usage. Microsoft Dynamics AX is an interesting vender which did not state or made it clear if they are specialized in selling to the size of a business, but as I looked into this vender, it appeared that the application concerning Microsoft Dynamics AX. A lot is put into expre ssing the program. That tells me that they expect more intense businesses to be interested.