Uk Organic Food Free Essays

string(117) This is likewise helpful for determining the heading in which an industry is taking, and the power of this change. Substance 1. Introduction2 1. 1 Why this industry was picked for analysis2 1. We will compose a custom exposition test on Uk Organic Food or then again any comparative theme just for you Request Now 2 Aim2 1. 3 Brief Background of the natural food creating industry2 1. 4 Competitive condition? 3 2. PESTEL analysis5 2. 1 Political factors5 2. 2 Economic factors6 2. 3 Socio-social factors7 2. 4 Technological factors8 2. 5 Environmental factors9 2. 6 Legal factors10 3. Porter’s Five Forces analysis12 3. 1 Threat of new entrants12 3. 2 Threat of substitute products14 3. 3 Threat of built up rivals14 3. 4 Bargaining intensity of suppliers16 . 5 Bargaining intensity of buyers16 4. Conclusion18 4. 1 The business at present18 4. 2 Future changes19 5. Appendices20 5. 1 Critique of devices and exploration limitations20 5. 1. 1 PESTEL framework20 5. 1. 2 Porter’s Five Forces20 6. References22 1. Presentation 1. 1 Why this industry was picked for investigation The picked business for examination in this report is the natural food delivering industry in the United Kingdom. This envelops gatherings of firms that produce comparable items, for this situation, natural food produce. As of late, there has been an increased mindfulness in the media corresponding to naturally created food, and an extraordinary accentuation has been put on ‘healthier eating’ and a decrease in the creation of hereditarily adjusted food. As this mindfulness expands, it is critical to dissect the business so as to evaluate whether the business is good to exist in, and to determine whether almost certainly, it will be entered by new contenders. Another purpose behind deciding to look at this specific industry is because of the absence of a refreshed Mintel report, or a comparative monetary report, particularly since there has been so much additional consideration being put on this industry recently in the media. So as to show signs of improvement picture about the large scale and smaller scale condition according to the UK natural food delivering industry, structures will be utilized so as to dissect data about the business. 1. 2 Aim The points of this report are to investigate and survey the idea of the natural food delivering industry in the United Kingdom. This will happen by utilizing two distinct structures, a PESTEL examination and the utilization of Porter’s Five Forces so as to completely comprehend the serious small scale and full scale condition of this industry. At the point when the investigation is finished, it will be resolved whether the business is ideal to enter or not, and future changes in the business will be anticipated. 1. Brief foundation of the UK Organic Food Producing Industry The term ‘organic’ has been characterized by the Organic Trade Association as a ‘ecological creation the executives framework that advances and improves biodiversity, natural cycles, and soil organic activity†¦ dependent on negligible utilization of off-ranch sources of info and the board rehearses that reestablish, keep up, and upgrade biological harmony’ [1]. By and by, this implies counterfeit concoction manures and pesticides are not utilized, and creatures are raised without the medications that are regularly routinely utilized [2]. Security of the earth is vital, and the nature of the dirt is the thing that decides if the produce can be considered as ‘organic’ or not. Truly, it was regular practice to just have moderately hardly any family run cultivates in which natural food was delivered, and this could be bought in farmers’ markets and littler stores, for example, green merchants. In any case, since the 1990s, natural food has had development paces of around 20% every year, and figures from April of this current year show that natural food presently represents 1 to 2% of food deals overall [3]. This development rate has been incompletely because of huge grocery store chains embracing scopes of natural nourishments, which is decreasing the rancher to shopper interface, and giving a helpful better approach to eat ‘organically’, and furthermore because of an expanded enthusiasm from the media in this industry. For instance, enormous grocery store chain Sainsbury’s has in excess of 1000 natural items, had a 14% expansion in deals of its natural produce in 2006/2007, sources all its natural meat, fish, poultry, milk, and eggs from the UK and has contracts with ranchers to ensure least costs to guarantee the drawn out flexibly of natural hamburger [4]. A statement from Jerry Dryer, who composed an article called ‘Organic Lessons’ expressed, â€Å"Organic is digging in for the long haul, not a craze walking by in the night† [5], which is a confident recommendation that the piece of the pie is set to increment and that new open doors can be focused on, however this will be affirmed or prevented toward the end from claiming the report. 1. 4 Competitive condition? The natural food delivering industry comprises of countless little makers, who produce food which can be affirmed as ‘organic’ by the Organic Farmers and Growers Organic Standards and the Soil Association. Due to there being an enormous number of divided makers in the business, it might be viewed as a serious market who are competing for the consideration of huge or little grocery store chains and stores, green merchants, and individual buyers of natural food. Natural produce in itself is sensibly homogeneous, so all makers in this industry will be attempting to sell comparative items which are to a great extent undifferentiated. This builds rivalry between the makers with respect to how they will get their products sold over the merchandise of a contender. There is likewise the choice of people developing their own natural produce, which may lessen the interest for the acquisition of produce. The intensity of nature will be examined in more detail when an investigation is done utilizing the Porter’s 5 Forces structure [6]. ? 2. PESTEL Uncontrollable, outside powers that impact dynamic, which along these lines influence the exhibition of an industry is known as the large scale condition. The large scale condition comprises of political, monetary, socio-social, innovative, natural, and lawful powers, which can be alluded to as ‘PESTEL’ powers [7]. A decent meaning of this system for investigation is given by Kotler [8], which is â€Å"PEST examination is a valuable key apparatus for understanding business sector development or decay, business position, potential and heading for operations†. This is additionally helpful for estimating the heading in which an industry is taking, and the force of this change. You read Uk Organic Food in classification Exposition models Factors can be evaluated and submitted in request of significance, so it is obvious to perceive what outside elements are the most problems that need to be addressed in an industry. So as to discover data for every one of the variables, dependable auxiliary information sources will we utilized, for example, papers, periodicals, books, exchange associations, Government offices data, and industry examiners results. When this sort of examination is finished, it is more clear to perceive how to make the most of emerging chances, and plan to forestall potential dangers that may happen in the business. The areas underneath separate the full scale condition into six sections. 2. 1 Political components Government enactment may direct what is viewed as natural in a specific nation. This report takes a gander at natural food makers in the UK, and this is managed by the Organic Farmers and Growers Organic Standards [9], and the Soil Association [10]. The Department for Environmental Food and Rural Affairs (DEFRA) states numerous diagrams of what how produce ought to be developed and the taking care of animals, with the end goal for in to satisfy UK Government guidelines [11]. These measures fluctuate from nation to nation, inside and outside of the EU. This can profoundly affect the sending out of produce by UK ranchers, as what might be regarded as natural in this nation, may not be so in another. Relations with legislators should be maintained, as enactment is liable to change at some random time. For instance, it as of late has been chosen to boycott battery hen confines beginning in the year 2009 [12]. 93% of eggs in the UK showcase originate from battery hens, so once the enactment is completely set up, this won't happen. This will build rivalry in the market, as all eggs will currently be from unfenced hens, which may influence the poultry side of the natural food industry. By adjusting to meet the new laws now, positive relations will be kept with government officials, and current natural egg makers should discover new manners by which to pick up piece of the overall industry in what might be an undeniably soaked market. The Government presently gives farmers’ sponsorships, yet current news from May 2008 shows that the EU is hoping to cut the cash it gives, and reinvest it with motivating forces on caring for agrarian land, instead of offering cash to help produce more food [13]. This may profit ranchers wishing to enter the natural food creating market, as they have additional impetuses to change over their territory to natural soil, yet may prevent those as of now in the market because of the expanded rivalry, and the absence of cash to deliver additional food expected to satisfy need. 2. 2 Economic elements The natural food creating industry can be to a great extent influenced by the UK economy, for example, loan fees, trade rates, purchaser force, and shopper certainty, which will all currently be talked about thus. The current progressing credit crunch, and high swelling has diminished odds of any loan fee cuts, and a genuine danger of a downturn is available [14]. Mervyn King, the legislative head of the Bank of England, has recently revealed that UK expansion will transcend its objective and the economy will pointedly back off [15], which doesn't mean beneficial things for an industry, for example, this, which depends on individuals purchasing premium quality items. In the event that entomb

Apply the Rod or Spoil the Child essays

Apply the Rod or Spoil the Child expositions It is the regular plan of life. People produce youngsters and along these lines are delegated guardians. It is and has consistently been the parent's business to bring up and support the youngster, to encourage it directly from wrong, and to shield it from the cruelty of the general condition. Notwithstanding, when the youngster wanders or acts in a damaging way, what steps should a parent take to address such conduct? A few analysts propose that a classic punishing is only the ticket. Others state that such activity will sincerely harm the youngster further down the road. With the parent eventually liable for the kid, it's difficult to tell what is correct or wrong when your multi year-old is beating his head against the floor in an out and out fit. 25 years prior, guardians would have gotten the youngster, hit it, and dealt with the fit of rage successfully. Today, guardians are progressively adept to have a go at anything other that a smack on the behind. Reason, be that as it may , doesn't dazzle a multi year-old so the conduct is regularly disregarded in light of the fact that aloof guardians would prefer not to hazard intellectually startling their kid. The specialists have fundamentally made a colossal issue out of something extremely basic. On the off chance that beating is as unsafe as is commonly said it may be, at that point each individual beyond 30 a years old a psychological case. Punishing isn't the response for everything, except now and again it is the main answer. The developing patterns for detached control in the United States stem generally from the disclosure that there were individuals out there that seriously manhandled their youngsters. As increasingly more maltreatment cases were uncovered, laws were changed to secure the child.1 Psychological issues before long started to manifest and beating before long experienced harsh criticism, being known as a type of youngster misuse and now and again culpable under the law. Scientists have contemplated the impacts of beating and the impacts are not to be trifled with. As a matter of first importance, the specialists guarantee that hitting doesn't show a kid self-bearing. The kid le... <!

Understanding Pyrophobia or the Fear of Fire

Understanding Pyrophobia or the Fear of Fire Phobias Types Print Understanding Pyrophobia or the Fear of Fire By Lisa Fritscher Lisa Fritscher is a freelance writer and editor with a deep interest in phobias and other mental health topics. Learn about our editorial policy Lisa Fritscher Medically reviewed by on January 30, 2020 Moritz Witter / EyeEm / Getty Images More in Phobias Types Causes Symptoms and Diagnosis Treatment One of the most common phobias is pyrophobia, or the fear of fire, which stems from an ancient and primal fear. Since fire is potentially dangerous, a bit of fear is healthy and normal.  So not everyone who fears that a blaze can ignite in their home if they arent careful suffers from pyrophobia. People with pyrophobia are unable to tolerate even well-controlled small fires and often exhibit physical symptoms, like dizziness, when coming in contact with fire. History of Fire The word pyrophobia originates from Greek ‘pur/pyr,’ which means fire and ‘phobos’ meaning fear or deep dread. Our ancestors discovered that, when properly harnessed, fire is extremely helpful. As we do today, they used fire to cook their food and keep themselves warm. But they also lived with a high risk of uncontrolled, dangerous fires. House fires remained a constant danger throughout most of recorded history. Today, modern building codes and new methods of handling fire make disasters significantly less common, but dangerous blazes do break out from time to time. Effects of Pyrophobia on Individuals Pyrophobia can have devastating effects on your daily life. The smell of smoke or a burning smell can cause extreme anxiety or even a panic attack in a person who suffers from pyrophobia. Pyrophobics may constantly check the stove, boiler and heating elements of their homes. Someone with pyrophobia may be unable to tolerate candles or campfires. They may develop obsessive-compulsive rituals such as constantly checking the batteries in smoke detectors or checking to ensure that the oven is off. Some people with pyrophobia have a physical reaction, such as stomach cramps or headaches, to the smell of smoke. Like all phobias, it is best to check with a mental health professional if your pyrophobia begins to limit your activities. A negative or traumatic experience with fire, such as having to escape a house fire, can trigger  pyrophobia in a person. Symptoms People with pyrophobia may feel dizzy or queasy whenever they come in contact with fire. It could be as simple as someone lighting a candle or turning on a gas stove. Someone with severe pyrophobia may also experience loss of breath, nausea, dry mouth or may faint around a fire. Treatment People with intense pyrophobia may need to seek help from a  psychotherapist. One common treatment is Exposure Therapy whereby a pyrophobic person is introduced to the fear of fire through illustrations of fires, as well as examples of a real fire, such as a lit match or candle.

William Shakespeare s The Globe Theatre - 1114 Words

During the Elizabethan Era, The Globe Theatre was a very influential upcoming piece of architecture that even Shakespeare first had his plays performed in. Although it was very difficult to keep the building standing for long, it inspired many new theatre styles and still lives on today in England. The Globe Theatre was extremely influential during the Elizabethan Era because of its long history, unique architecture, and new ways of acting to go along with the new theatre style. Although the majority of Shakespeare’s plays were first produced in the original Globe Theatre, his plays used to be performed in other forms of amphitheaters, such as halls, inns or open arenas (Cummings). Shakespeare belonged to a company called Chamberlain’s Men. They acted and before The Globe Theatre even existed, they would perform in The Theatre, originally built and owned by James Burbage (Cummings). The Burbage family consisted of James, the father and owner of The Theatre, and Cuthbert Burbage, who was not actor but admired theatre (Cummings). The other son of James Burbage was Robert Burbage, an actor in the Chamberlain’s Men acting company and star of most Shakespearian plays such as Hamlet, Macbeth, and Romeo and Juliet (Cummings). In 1597, the land that The Theatre was built on had a lease that was almost up, and Giles Allen, the owner of the land, wished to tear the building down (Pressley). Because of this dispute, The Globe Theatre came into existence. While working very fast,Show MoreRelatedThe Development And Popularity Of The Elizabethan Theatre1289 Words   |  6 Pages The Development and Popularity of the Elizabethan Theatre I. Introduction Hook: What type of entertainment could have been available in the Elizabethan era without actors or tv? A. Elizabethan Era 1. 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The events which took place in The Globe’s past and what is its future may be, have become, and will be, an important part of the history of theater and drama. This paper will discuss the history of the Globe theatre, the importance it held at its time, and the importance of The Globe Theater now and in the future. In 1576Read MoreWilliam Shakespeare s English Literature Essay1667 Words   |  7 PagesWilliam Shakespeare has been best known for his poems, plays and masterful piece of writings in the English language. He has been referred to as the England s national poet and the Bard of Avon. He produced over thirty eight plays, hundred fifty four sonnets, five poems, and more verses. Shakespeare s plays consist of mainly tragedies, comedies and histories which are regarded as one of the best in those genres. The plays, the poems, and the sonnets have had a significance influence in EnglishRead MoreThe Elizabethan Era Of Europe1531 Words   |  7 PagesMary Queen of Scots a Catholic. 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One of the most controversial and accused writers wasRead MoreWilliam Shakespeare s Sonnets : The Greatest Of All Love Poems1465 Words   |  6 PagesWilliam Shakespeare’s sonnets are considered the greatest of all love poems. The collection contains 154 poems portraying themes of love such as beauty, lust, and estrangement. First published in 1609, these works have remained a popular subject in the world of literature for centuries to come. â€Å"Shakespeare has completely dominated the English-speaking state over the last four hundred years.† When thinking of Shakespeare, his famous plays such Hamlet and Romeo and Juliet are usually the first toRead MoreTheater During The Elizabethan Era Essay2090 Words   |  9 PagesEnglish 4A 13 October 2016 Theater in the Elizabethan Era When people think about theater in the Elizabethan Era, people usually think of William Shakespeare first. The Elizabethan theater was so much more than just Shakespeare. Theater In this time was not only plays, but included things such as bear baiting, cock fighting and public executions (â€Å"Elizabethan Theatre†). The Elizabethan Era was during the reign of Queen Elizabeth which lasted from 1558 until 1603 (Singman 6-7). The social, economic andRead MoreEssay about William Shakespeare587 Words   |  3 PagesWilliam Shakespeare William Shakespeare was born in Statfordon-Avon, England in April 1564. The son of John Shakespeare a Glover and his mother Mary Arden who came of wealthy framing family. William Shakespeare was the eldest of three sons there were also four daughters, only one of his sisters out lived William. From when Shakespeare died there has been lots of books written about Shakespeare and his works. Such as Shakespeare in his Brie Lives written by Aurbery in the 17th century

Colored Fire Spray Bottles

In the pilot episode of Breaking Bad, chemistry teacher Walt White performs a demonstration in which he changes the color of a bunsen burner flame by spraying the flame with chemicals. You can perform the colored fire demonstration yourself. All you need are some common chemicals, alcohol, and spray bottles. Here is a list of metal salts you can use to (safely) color fire. The chemicals have low toxicity and any smoke produced wont be any better/worse for you than normal wood smoke: Colored Fire Chemicals Heres a list of common chemicals and the colors of flames they produce: Dark red lithium chlorideRed strontium chloride (found in emergency flares)Orange calcium chloride (a bleaching powder)Yellow sodium chloride (table salt) or sodium carbonateYellowish green borax (sodium borate, a common insecticide and cleaning agent)Green copper sulfate (found in some pool and aquarium chemicals)Blue copper chloride (lab chemical, but other copper compounds found in algicides and fungicides may work)Violet 3 parts potassium sulfate, 1 part potassium nitrate (saltpeter)Purple potassium chloride (sometimes sold as a salt substitute)White magnesium sulfate (Epsom salts) Prepare the Flame Colorants If you were just coloring a campfire or other wood fire, you could simply sprinkle the dry metal salts onto the fire. Copper chloride is especially nice for this since the sodium that is naturally present in wood causes this chemical to produce a mix of blue, green, and yellow flames. However, for the gas flame in a burner, you need the salts dissolved in a flammable liquid. The obvious choice here is alcohol. Common alcohols found around the home could include rubbing alcohol (isopropyl alcohol) or ethanol (e.g., in vodka). In some cases, the metal salts will first need to be dissolved in a small volume of water and then mixed with alcohol so that they can be spray onto a flame. Some salts may not dissolve, so what you can do is grind them into a fine powder and suspend them in liquid. Do not spray alcohol or any flammable chemical across a flame toward people! Safety Information While the colorants used in this demonstration are generally safe, this project involves flammable materials and flames. There is an innate risk of burns and uncontrolled fire. Be sure to have a working fire extinguisher handy, wear appropriate safety gear, and maintain a safe distance between the demonstration and the demonstrator/audience. Flames involving alcohol may be extinguished with water, by suffocation, or with any fire extinguisher. The demonstrator is advised to wear low-flammability clothing (typically natural fibers) rather than flammable synthetic clothing. A little preparation makes for a safe and memorable demonstration that will raise interest in chemistry! Disclaimer: Please be advised that the content provided by our website is for EDUCATIONAL PURPOSES ONLY. Fireworks and the chemicals contained within them are dangerous and should always be handled with care and used with common sense. By using this website you acknowledge that ThoughtCo., its parent About, Inc. (a/k/a Dotdash), and IAC/InterActive Corp. shall have no liability for any damages, injuries, or other legal matters caused by your use of fireworks or the knowledge or application of the information on this website. The providers of this content specifically do not condone using fireworks for disruptive, unsafe, illegal, or destructive purposes. You are responsible for following all applicable laws before using or applying the information provided on this website.

Business Environment Lecture 3 Free Essays

Investigate the economic, social and global environment in which organisations operate CONTENTS (Lecture 3): Resource issues and types of economic system: basic economic problem, effective use of Resources; type of economic systems — command, free enterprise, mixed, including transitional economies, public and private sector initiatives; private finance initiatives. Business Environment : We can divide the types of Business Environment into following categories. External Environment : It is largely consisted of uncontrollable factors , which includes economic, political , social, technological, natural amp; international factors. We will write a custom essay sample on Business Environment Lecture 3 or any similar topic only for you Order Now ECONOMIC ENVIRONMENT : Business is a micro economic unit . Its market behaviour exhibits the business’ economic decisions. Economic Environment refers to all those economic factors which can affect in any way the functioning of the business itself. In todays firm we see economists working on the strategic levels as the contribution of economists towards the successful running of the business is unavoidable.BASIC ECONOMIC PROBLEMS: ‘ Economy refers to the sum total of economic activities undertaken by the people of an area with a view to earning their living. †TR Jane et al (P1) Economic Problem: Human demands and needs are unlimited and resources are limited. It is not possible to satisfy each and every individual need , due to limited resources therefor we have to make choices as to how to make the optimum use of its scarce resources. It has to make decision as to how much should be allocated to the production of cars and how much to production of other metallic products.Therefore allocation of resources across its different uses can be classed as Economic Problem. Or Economic problem is the problem of choice or economical uses of scarce resources. www. bized. co. uk cited 11/11/2010 . Three Major Reasons Behind Economic Problems: 1. Unlimited Wants 2. Limited /Scarce Resources 3. Alternative use of Resources Effective Use Of Resources: Types of Economic System: 1. Socialist 2. Capitalist 3. Mixed DEFINITION: ECONOMIC SYSTEM: References: 1. TR Jain , OP Khana (2009-2010):Business Economics 2. How to cite Business Environment Lecture 3, Papers

Can be Contemporary Computing seen as an Assemblage

Question: Explain! Can be contemporary computing seen as an Assemblage. Answer: Introduction Actor-Network theory can be defined as the research that is developing in the field of science studies which bargains as the items being a piece of the informal organization. Regardless of the way that it is best known for its argumentative accentuation on the utmost of nonhumans to act or join in structures or frameworks or both, is moreover associated with convincing researches of normal and essential human science. Subterranean insect is consistently joined with the identical treatment of human and non-human on-screen characters. It acknowledges that all substances in a framework can and should be depicted in the same terms (Maple, 2012). Background of the Topic This section is divided into two consisting of different stories that depict the concept of contemporary computing can be seen as an assemblage and in relation to discusses the concept of Actor-Network theory. This theory serves to depict how actors structure organizations together and utilize non-human actors to reinforce such organizations together and to secure their interests (Arutyunov, 2012). Cloud Computing In this section, case study methodology is used to examine the cloud computing as modern computing and discussed in accordance to the actor-network theory. In this case an example of a leading online seller Amazon is taken into account which adapted cloud services into their business according to the Actor-Network theory. The main objective of adapting cloud services by Amazon was to offer its partners with web services. In the wake of creating different sorts of administrations, Amazon reinforces the entire aggressiveness of production network operation effectiveness with her accomplices. Cloud computing administrations are enhanced from their interior IT, initially boost their business process. At that point, Amazon enlists their ecommerce partners embracing their web administrations, and at that point cloud administrations inserted in their daily business process. Amazon reinforces their business values through the partners systems shaped by IT and cloud services. Thus according t o Actor-Network theory it can be said that the cloud services adapted by Amazon acts as actants in the society. And the ecommerce partners can be said as the actors acting in the society (Bansal, 2013). Cloud computing administrations are developed from their inner IT, initially boosting their business process. At that point, Amazon enlists their ecommerce partners embracing their web administrations, and at that point cloud services. For case, Amazon enlists her online store accomplices into the actor-network what's more, balances out system by inserting production network forms into their innovation. Amazons online store accomplices are difficult to sell out in light of bolted operation procedures in distributed computing innovation and administrations as well as services inserted in their daily business process. Amazon fortifies their business values through the partners systems framed by IT and cloud administrations. On the basis of Actor-Network theory, it is said that the human are the actants and non-humans i.e. cloud services in this aspect can be referred to as actors in the network. Actornetwork hypothesis demands the limit of nonhumans to be performers or members in syste ms and framework. Despite of the conflicts in this theory, it can be assessed that actors means non-humans plays an important role in this society to develop the network. The modern computing technology has involved itself totally into the modern society and thereby increasing the efficiency of the daily process in the business. Thus from this research it can be concluded that in this world of modern computing, actants are an important aspect for development of the network in the society (Gander and Wanner, 2012). Computer Games The evolution in the world of gaming can be denoted as modern computing technology which is having an adverse effect on the society. According to ANT (Actor-Network Theory), the computer games can be identified as actors and it plays an important role in the network. This section is to depict computer games as actors in the network that produce encounters 1by practicing control over the client's capacities, for instance their intellectual capacities. Utilizing PC programming more often infers that the client is the dynamic part who controls the association by data and direct control. Association with PC games is an alternate affair in light of the fact that the client demonstrates in an amusement world where the substance of the amusement has broad impact on the gamers conduct. In this context, we are going to demonstrate how games can be seen as actors and as coordinators of actors and activities on the basis of Actor Network Theory (Hajibaba and Gorgin, 2014). The primary thought of this theory is that moves dependably make place in cooperation between actors in systems when performing actors impact one another and battle for force. We more often than not see social cooperation between people along these lines, on the other hand, ANT contrasts from conventional social hypothesis by expressing that the performing artists are people as well as can be different components too. According to this theory, all components including humans and non-humans are to be considered as a part of the system. On the off chance that you need to play the amusement, human and non-human, specialized and non-specialized components are a piece of the system, and none of the components are per definition allowed uncommon control over the others. The games are acting as actors in the society which helps in the development of the humans in this modern world Sayes, E. (2014). Conclusion The concept of modern computing has evolved over the few years and almost fully developed an attachment in our society Farias, I., Bender, T. (Eds.). (2012). In this article, it has been discussed about the cloud computing quality and future innovation/administration improvement through ANT hypothesis. We contend that distributed computing qualities created through systems administration of IT, administrations, associations and their hobbies. In short, cloud computing is acting as actants in the society. In regards to computer games it can be described that the games are actors in the society which helps to develop the network in the society. Thus it can be concluded that despite of the conflicts of non-humans capability in the network it plays an important role to in the development of the network in the society (Tari, 2014). References List An introduction to modern mathematical computing: with Maple. (2012).Choice Reviews Online, 49(05), pp.49-2709-49-2709. Arutyunov, V. (2012). Cloud computing: Its history of development, modern state, and future considerations.Scientific and Technical Information Processing, 39(3), pp.173-178. Bansal, N. (2013). Cloud computing technology (with BPOS and Windows Azure).International Journal of Cloud Computing, 2(1), p.48. Gander, M. and Wanner, G. (2012). From Euler, Ritz, and Galerkin to Modern Computing.SIAM Rev., 54(4), pp.627-666. Hajibaba, M. and Gorgin, S. (2014). A Review on Modern Distributed Computing Paradigms: Cloud Computing, Jungle Computing and Fog Computing.Journal of Computing and Information Technology, 22(2), p.69. Tari, Z. (2014). Security and Privacy in Cloud Computing.IEEE Cloud Comput., 1(1), pp.54-57. Sayes, E. (2014). ActorNetwork Theory and methodology: Just what does it mean to say that nonhumans have agency?.Social Studies of Science,44(1), 134-149. Farias, I., Bender, T. (Eds.). (2012).Urban assemblages: How actor-network theory changes urban studies. Routledge.

The Schools Donation free essay sample

The donation money graciously given to the school should be used on adding honors and courses to the high school curriculum. An honor’s course is a class that can be taken through the school, a college level class giving the student who completes the course to receive double-credit. The student will receive high school and college credits. The student will be given a certain number of credits helping the student get some high school credits out of the way. The student will also receive college credits, giving them the opportunity to get a head-start on their college career; while saving money at the same time. Adding honors courses is the best way to use the donation money to benefit the most people. Many schools these days are offering their students more than just the basic classes. Today’s world demands more from kids and these honors courses will challenge students into becoming better and brighter people. We will write a custom essay sample on The Schools Donation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The students will benefit so much from challenging themselves. These courses are given to add depth to the curriculum by giving students the opportunity to pick classes that meet their interest’s and needs. Some students know what they want to be when they leave high school and others don’t; either one is okay, but these courses either let the student start on getting that occupation or allows them to explore and find things they excel at. These days’ kids want to be independent. They want to choose their own path and not listen to Mom and Dad. The student can sort of decide want skills they have and maybe discover something they didn’t even know they liked or were good at. These courses offer such a wide range of possibilities that a student can learn about. You could take a course in areas of English, Business, Math, Social Behaviors, Technology, even Mechanics, and Biology. All of these would give you an advantage taking these courses in high school will look really good on an application for college. The donation money would be a great investment in the honors courses. The cost of adding honors courses depends solely on the cost of that particular class. Each class will be different, but you can count on buying books for every class. The other cost is the teacher; if the course it taken on-line through a college a teacher will be provided, but otherwise a teacher knowledgeable on the subject will have to teach it. This will give a few teachers the opportunity to make some extra money or allow for a couple teachers to be hired. Not all cost is bad. There is one aspect of the cost of these classes that is a good thing. That is the cost that the students will save by taking these courses in high school. College tuition is not cheap, but you can get some of your general classes that you have to take in college out of the way and get closer to earning your degree. There are students who work very hard their whole academic career, and there are those that don’t. I think those students who do work hard should be rewarded for their efforts. These courses will also be a lot more challenging for the student and the grade could be worth more than a normal high school course. This would reward a student who has challenged themselves by being worth more for their total GPA. Our current GPA scale is 4 points for an A, 3 points for a B, 2 points for a C, 1 point for a D, and no credit for an F. â€Å"The GPA scale for an honors/advanced placement course would be 5 points for an A, 4 points for a B, 3 points for a C, 2 points for a D, and 1 point for an F.† (â€Å"Participating in Honors Courses†). The weighted GPA scale would reward the students who worked hard. It would also give a student who may have slacked off a little a chance to redeem themselves by taking harder courses and making up points on their GPA. I know that I had a semester that I became lazy and earned a couple C’s and regretted it. If I took a couple courses such as these I could maybe redeem myself to get a much higher GPA. This increases the chances for scholarships and other academic awards helping one’s college career. As you can tell, there are so many reasons that this is the best choice for the use of the donation. Everyone can benefit so much from adding honors courses to our high school. The students will receive a better education. The parents will be overjoyed at the accomplishments of their children. The school will receive praise and support from the community more than ever. Works Cited â€Å"Participating in Honors Courses.† 23 February 2008. . Knott, Gail. â€Å"Online Course Offerings.† Mid-Plains Community College. 23 February 2008.

What Is Model UN 4 Reasons to Join

What Is Model UN 4 Reasons to Join SAT / ACT Prep Online Guides and Tips Are you interested in politics or international relations and looking for a club that lets you do you hands-on activities?Have you heard of Model UN but aren’t sure exactly what it is? Read this guide to learn everything you need to know about what Model UN is, what participants in it do, and how to decide if it’s the right extracurricular for you to join. What Is Model UN? Model United Nations, often referred to as Model UN or MUN, is an extracurricular most commonly for high school students, but also available to college and middle school students. Model UN is a simulation of UN organizations such as theUN General Assembly, UN Security Council, UNICEF, and others. Its participants take the roles of ambassadors from various countries anddebate current issues.Model UNwas developed in the 1950s as a way to give students hands-on learningininternational relations, diplomacy, and the United Nations.Over 400,000 students around the world participate in Model UN each year. What Do Model UN Participants Do? The core of Model UN is its simulations of UN conferences where students (known as Model UN delegates) role playas UN ambassadors and delegates. If you join Model UN, you will be doing a variety of activities, includingresearching,debating, andcoming up with solutions with members of other countries.These simulations occur at Model UN conferences, which can be regional, national, or international. Conferencescan have anywhere from 30 to over 3,000 participants. When your Model UN team joins a conference, your team will be assigned a country and an issue relevant to that country that is currently being discussed in the UN. You can request a certain country, but you are not guaranteed to get it. Forexample, you may be chosen to represent Nicaragua at the Economic Commission for Latin America and the Caribbean (ECLAC). At the conference you attend, you will have to convince the other delegates to make decisions in your country’s favor. If you have a larger Model UN team, you may be assigned multiple countries or issues, and the team will break into smaller groups to cover each one.Conferences occur throughout the year, but you will be given at least a few weeks, and usually several months, to prepare your position before you attend the conference. Before theConference: In order to prepare for conferences, delegates must study the country and the issue they have been assignedandbecome well-informed on both.Most conferences require you to write a position paper that outlines your country’s position on the topic as well as suggestions you have for how to resolve the issue. If you’re representing Nicaragua for the ECLAC, you will need to research topics such as what sectors have the largest impact on the country’s economy, long-term and short-term economic trends in Nicaragua, if there are groups largely excluded from contributing to the economy (such as women or certain ethnic groups), who Nicaragua’s primary trade partners are, what the countryimports and exports, and multiple other topics. After discussing these issues in the position paper, you will have to come up with ways to improve Nicaragua’s economic situation. UN General AssemblyHall in New York City During theConference: Students will be organized based on the committees or councils they are part of, so all the members of the ECLAC would meet together. Each group will have a chair who will moderate the discussions. The chair is often an older student or adult. Delegates then give a speech outlining their country’s position on the issues and offering possible solutions. Most of this information will come from your position paper.After each delegate has presented their country’s position and potential solutions, there are question and answer sessions and debates (known as â€Å"caucusing†). The main goal during the conference is for your committee to develop a written resolution. After you have discussed different countries’ viewpoints, debated, and agreed on solutions, the entire group will work together to writethe resolution. The resolution will explain the issue your committee is focusing on and give a series of guidelinesin order to solve it. After the resolution is written, the committee will vote on it. If your resolution passes, that is a mark of your committee’s ability to work together and compromise well.Awards are also often given out at conferences to top delegates in each committee. These are often delegates who had well-designed position papers, debated effectively, worked well with other members, and took an active role in developing the written resolution. How CanYou Start a Model UN Group at Your School? If your school already has a Model UN group, you can probably join it the way you would join any other school club. If there is no Model UN club at your school, then you can also start your own. We have a guide that gives step-by-step instructions on how to start your own club, and we also have some specific tips for starting a Model UN club below. First, you’ll need a teacher to act as the adviserfor your Model UN club. When you apply to start a Model UN team, your school may assign a teacher, but, if not, consider asking a social studies teacher who likely has a strong background in the issues that Model UN discusses. After you have recruited members and set up meeting times, the next step is to choose which conference(s) to attend. Currently, over 400 conferences take place all over the world. You can search online for conferences, and a list of larger conferences is also available here. For new clubs, you may want to choose a conference that is close to your school in order to make traveling easier and less expensive. It’s possible for a Model UN team to sign up for multipleconferences, butif your team is just starting out, you may want to begin with only one or two conferences a year to make sure members aren't overwhelmed with work. Also, because new teams usually don't get first pick for what country they'd like to represent, if you'd like to represent a larger country like China or the US, you have a better chance of getting your first choice at a smaller conference. Be aware though that representing a larger country often requires more research and preparation. Once you have a conference selected, your team will be assigned at least one country and committee to represent.You can now divide up roles and begin researching. What Are the Benefits of Joining Model UN? Now that you know what Model UN is, what are the benefits of joining it? Model UN can be a great addition to a resume or college application, and I've discussed four of itsmost important benefits below. Benefit #1: Hands-On Experience in Politics, International Relations, and Current Events If you are planning a career in international relations, politics, or you’re simply really interested in these topics, Model UN is one of the best extracurriculars you can join because it gives you hands-on experience in these areas.Most of the time, students interested in these subjectscan only learn about them in class or by reading on their own.While this is a great way to get more information, itusually isn’t a very interactive experience. Model UN involves many of the same activities that actual UN delegates participate in, which is a great way to learn how different countries and committees work together to solve problems.Model UN conferences also focus on current issues, so you will be learning about relevant current events that are likely being discussed and debated around the world. Hands-on experience can makeunderstanding ideas and concepts easier, looks stronger on college applications because it requires more work, and is often more fun to participate in as well. Benefit #2: Improve Public Speaking and Debate Skills During a Model UN conference, you will spend a lot of yourtime giving speeches and debating with other delegates, which can really improve your skills in these areas. Public speaking and debate skills are useful for almost every career, so no matter what kind of job you want in the future, boosting your skills in these areas will likely benefit you down the line. Benefit #3: Learn Teamwork Skills Every step of Model UN requires teamwork, whether it’s dividing up research assignments, writing a position paper, orcreating a speech. At the conference, teamwork becomes even more important because you must work with the other delegates to come up with solutions that everyone is happy with and write a resolution paper together. Model UN delegates often gain experience in conflict resolution, consensus building, and negotiations, which are teamwork experiences many other clubs don’t offer. Strong teamwork skills are very important to colleges because they want to admit students who will work well with their classmates and other students on campus. Having strong teamwork experiences such as the ones you can get through Model UN can help strengthen your college applications. Benefit #4: Possibility of Travel If you participate in Model UN, there is also the possibility of traveling to new cities or even new countries.Model UN conferences are held around the world, and if your team can afford to travel to a foreign conference, you can get the added benefits of exploring a new placeand culture, as well as meeting students from other countries. If you join Model UN, you may get to travel to some exciting places for conferences. Soshould you join Model UN? If you have enough time in your schedule and are at all interested in international relations, politics, debating, or public speaking, then Model UN can be a great extracurricular to get involved in because it includes a lot of hands-on, relevant work and can be a strong addition tocollege applications. If you're still unsure, drop by a meeting at your school to get a sense of what joining the club would be like. Summary Model UN is a club for middle school, high school, or college students whose members simulate UN committees. Model UN members are assigned at least one country and committee. They research the country and the relevant issues to prepare for a conference. At the conference, students representing many countries and issues come together to debate their positions and agree on solutions. Model UN is a great extracurricular for students looking to learn more about politics, current events, or international relations and for students who want to improve their public speaking or debate skills. You can learn more about Model UN here. What's Next? Looking for other after-school activities? We have a list of over 200 extracurricular ideas, and it's sure to include something that interests you! Considering community service or volunteer work? We have a guide to the nine best places to do community service! Interested in more opportunities for travel? Read our guide on volunteer abroad programs and learn if they're really the best option for you. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Revival of Parisian Haute Couture after WWII Essay

Revival of Parisian Haute Couture after WWII - Essay Example World War II is considered to be the dark years of otherwise richest fashion industry, Paris. Before the war, the whole world looked towards Paris for fashion, accessories, fabrics, and inspiration. On the other hand, Pre-WWII America was merely a Parisian fashion admirer and consumer (Murgia 2013).It is quite interesting to explore how Paris made such remarkable comeback on international scene, despite the unparallel decline in prominence, social life differences between US and Europe, and most significant of all, momentous progress of American fashion industry during the 1940s. No doubt, WWII marked the end of European supremacy in the visual arts, and increasing momentum of New York art scene, however, equivalent enhancement of fashion scene couldn’t take place. Rather, United States’ magazines published articles like â€Å"How to buy a Dior Original† that presumed French couture as every American woman’s dream. Despite the time-consuming and expensive process of dressmaking by a French designer, American women found it priceless (Steele 1998). In addition to state efforts, and clever marketing strategies of French couturiers, â€Å"the sheer prestige of Pars fashion contributed to its post-war revival,† as Steele (1998) puts it. ... Hats made their ways into an otherwise politically correct dress. They found a creative outlet in the use of feathers, raffia, and different leftover items (Peterson et al. 2008). America was nearly disconnected with Paris during War years, therefore, most American couture houses and ready-to-wear manufacturers incorporated American designers in their teams. It provided Americans with freedom to create new styles without getting influences by Paris. In that period, American designers like Gilbert Adrian secured the leading position one fashion scene2 (quoted in Murgia 2013). After liberation from German occupation, French designers who showed association with Nazis were ignored. Even though Channel closed her Paris fashion one year before the war, her love affair with a high official of Nazis created unfavourable situations that made it difficult for her to open salon in Paris for many years after the war. Unlike Americans, French designers rejected the war related non-French frugali ty (due to rationing) and made luxurious use of materials. Such attitudes and emerging American designers’ popularity triggered a shift from Paris as the arbiter of all fashion (Peterson et al. 2008). During 1945, in their efforts to revive French fashion and regain the lost status of Fashion capital, fifty-three French couturiers joined hands to organize a travelling exhibition, called Theatre de la Mode. Some of the prominent names of this group included Cristobal Balenciaga, Jean Patou, Robert Ricci, Jacques Fath, and Elsa Schiaparelli. They revived an old-age exhibitions style of dressing up 200 dolls with complete dress, undergarments, hats, shoes, gloves, jewellery, handbags, and umbrellas

Modern Furniture Evaluation Essay Example | Topics and Well Written Essays - 1250 words

Modern Furniture Evaluation - Essay Example Preferred stock is a class of ownership in a corporation that has a higher claim on the assets and earnings than the common stock. Preferred stock generally has a dividend that must be paid out before the dividends to common stockholders and the shares usually do not have voting rights. Each company can work out the details pertaining to the issue of preferred stocks. However preferred stock can be considered as a financial instrument that possesses the characteristics of both debt (with fixed dividend) and equity (potential appreciation). (Investopedia) A convertible debt or security is a bond or a share of preferred stock that can be converted at the option of the holder into common stock of the same corporation. The investor is provided with a fixed return from a bond or with a specified dividend from the preferred stock. In addition the investor has an option to covert it to common stock. As a result the company is able to sell a convertible security at a lower yield than it would have to pay on a straight bond or preferred stock issue. This is an advantage for issuing convertible securities. (James C.Van Horne) A Warrant is an option to purchase a specified number of shares of common stock at a stated price. When the holder of a warrant exercises his option he surrenders the warrants. Warrants are often employed as 'sweeteners' to a public issue of bonds or debt that is privately placed. As a result the company should be able to obtain a lower rate of interest than it would otherwise. For companies that are marginal credit risks the use of warrants may make the difference between being able and not being able to raise funds through a debt issue. Occasionally warrants are directly sold to investors directly against cash. On other occasions they are used in founding of the company issued as compensation to underwriters and venture capitalists. Mostly warrants are issued in connection with a debt issue often a private placement. (James C.Van Horne) A primary financial instrument evidences a direct claim against some other party. These instruments often are traded in the spot market with prices set by the usual forces of demand and supply. In contrast a derivative security derives its value from an underlying primary security. One of the examples for the underlying security for derivatives is the stock option. Movements in the price of the underlying asset, the stock in this case drive the value of the derivative instrument, the option. Derivatives may take the form of simple put and call options on stocks. These options were traded in relatively illiquid over the counter markets. However with the tremendous financial innovations occurred in the last two decades the role of derivative securities in the financial markets have increased manifold touching new heights. (James C. Van Horne) Modern Furniture Company Total Number of shares outstanding: 3,000,000 Cash Dividend Proposed: $ 1.60 per share Total Earnings of the firm $ 12,000,000 Earnings per share $ 4.00 Market Value of the Share $ 88.00 P/E Ratio P/E Ratio is given Market Value per Share Earnings per Share 88.00 4.00 = 22 Dividend Yield and Dividend Payout Ratio Dividend Yield is given by Annual Dividends per

Understanding Child Development through Observation

Understanding Child Development through Observation Introduction: Background For observing and evaluating the child development, an online site is accessed where a nursery video is available and in the video the child that I chose to observe is a four year old girl that I will refer to as Amani. She is highly intelligent and confident child; not only has this she had extraordinary skills to socially move around independently. I observe Amani in the school classroom; play area and garden area where she has been involved in different activity. This observation has been conducted between 9.23am until 11.09am of all her activities. The objective of this observation is to make the progressive note of the childs physical, intellectual, emotional, linguistic and social development. In the next section there is description of observation and followed by the evaluation and childs profile. Observation Description Amani stands near to table on which there are name tags of students, she leans to pick her names tag with a little hesitance and picks the tag and pastes it on the name board. During the time she has smile on her face and looks pleased with this activity. Later on she is in her classroom sitting on floor along with her all classmates, she is smiling and has her eyes on her teacher, and paying attention to what teacher is saying intently. She is constantly smiling and moving her body in swinging way. Now, teacher is singing a poem Mary and Amani is singing along with the teacher and continuously smiling with pleasure. Teacher is reading the students story about growing flower plants, teacher speaks of flower planting, that there are some seeds and Maule! You will plant them and they will grow into a beautifulà ¢Ã¢â€š ¬Ã‚ ¦flower Amani says flower with the teacher. Teacher says Maule! What do you think that seeds are going to needà ¢Ã¢â€š ¬Ã‚ ¦ soilà ¢Ã¢â€š ¬Ã‚ ¦ andà ¢Ã¢â€š ¬Ã‚ ¦ Amani cheerfully speaks waterà ¢Ã¢â€š ¬Ã‚ ¦ waterà ¢Ã¢â€š ¬Ã‚ ¦ making herself to be heard. Teacher says that you can go and play and Amani raises her hand cheerfully turns back and forth to her classmates and she walks around touching the different objects, she is in painting area and takes out a color out of jar and write her name with write hand, she put down green color and picks another marker. She gets up and walks to garden yard, wears her apron ties the laces and ribbons. She is standing by a large soil pot from where other children are getting the soil; she has a soil pot and tries to get the soil from one of a child standing closely. Second boy standing next to her has two scoops she tries to snatch the one because other boy is not letting her have the soil scoop. She snatches a scoop off the boy and cheerfully put some soil into the pot and says put some soil and it will make soil she picks a scoop and presses the soil inside the pot and says I am gonna show my soil and sits next to her teacher, she tries to take wax dough and laughs when her teacher refuses to g ive her the wax dough, teacher parts the dough and gives her half of the dough she smells it pleasingly and kneads it with her hand. Teacher says to her how does it feel? she says good. Teacher says how does it feel like? she says soft and cheerfully shifts the dough from hand to another. She says where is the stick to put it? and leaned forward to get the one and crushes an object on the table, the teacher exclaimed Oops! due sudden movement of Amani, she says she needs sticks and she hold the stick plate and put that near to her and picks the sticks one by one and put them in dough. Teacher says you could sing a song? she says yes and walks to the garden accompanied her teacher after finishing the wax dough, she puts the dough near to flower pots and waters the plants with the help of water shower. Now she is sitting in the garden party table and holding a spoon with plate and pretending to be eating with them. She gets up and leans forward to get another spoon and uses the spoon for picking sugar from the pot and pours into a tea cup and picks another pot, a milk pot and pour it into tea cup to make tea. She again pretends to be eating and her teacher says can you please make me a cup of tea, Maule!? she says with a smile yes, and puts sugar in the cup pleasingly, teacher says again what are you putting? she says with a smile I am putting sugar, and pretends to add more sugar into cup with spoon. She is on the garden party table and eating with spoon and drinking and says I have made it and get off the chair. Now she is in the class and standing next to her teacher who is sitting and singing a poem to children sitting on the floor. She sings the poem Mary with her teacher and classmates. According to Sheila Riddall-Leech (2005), observation is the most effective way to understand about the childs development stages, and its aim is to gather observation base information about a childs progress. Riddall-Leech (2005) further expresses that a single observation is not enough to determine whether or not a child is progressing and improving the developmental skills. Any observation should provide the data necessary to enable a professional to make balanced and informed decisions, such as the planning of specific activities to meet childrens needs, or whether to seek professional help. According to OHagan (2001), it is vital that parents are involved in the childs day to day activities in the school setting. In addition, the parents permission for observing child development is also important in the same regard. Evaluation Physical Development In physical development, Amani is observed for Development of Gross Motor Skills as well as Development of Fine Manipulative Skills (DeRobertis, 2008). Physically Amani is observed and found to be healthy and normal child since she continues to show physical activeness and physical involvement in every activity that a child of four year old is supposed to do such as walking, running, bending, carrying objects, and rolling. During observation, she is found to be physically comfortable of her environment like roaming around without any physical unbalance. She has shown almost all characteristics of Development of Gross Motor Skills. However, she has good physical balance yet at one point she shows lack of balance and co-ordination and control of body like leaning against the table and crushing other objects on the table. Another level of physical development observed is Development of Fine Manipulative Skills (DeRobertis, 2008). Just like every normal child of four year old Amani is ob served to able to using equipment, holding and gripping and drawing, writing and building. She is observed to feel, pouring, filling, touching and exploring dough and building another new object with it. She is observed to using objects like scoop and plant shower very efficiently and using spoon, dressing and using laces and ribbons. Intellectual Development Amani is intellectually observed remarkable as she shows intellect of mind and especially of knowledge and understanding. Both in classroom and play area she is observed as attentive, concentrated, understanding and learning child. The attention and concentration level is highly related to her responsive attitude. She shows some imagining and creativity too, working with wax dough and making cake and pudding of it. She is observed to have knowledge such as answering the teachers questions with her knowledge and writing her own name. The most important intellectuality observed in the Amani is her problem solving tendency such as wearing apron and tying the apron laces herself that shows her intense ability to show problem solving attitude. The sensing and concept formation of Amani is observed in play area where she makes pudding with wax dough, where she is asked about the wax and she responds correctly of the question that wax is soft and it shows great understanding and conceptuali zation of the girl. She seems to show good memory like sugar is added in tea and how to use the eating objects. Her understanding and recognition of objects and colors is extraordinary; she seems to differentiate between a light shade of green and vice versa. Since children learn language and other things by asking questions such as what, where, why, there has been lack of asking questions by Amani, and she intends to respond to the questions rather. Emotional Development Emotionally Amani is observed to be independent as she is able to walk around freely without any hesitation. Moreover, there is no hesitation or difficulty in her expression. She is expressive and good at expressing herself. However, she shows little lack of control over her emotions like when she is in her play area to plant a seed in soil she snatched the scoop from her classmate who refuses to hand her that scoop, though there is not any intense situation yet she looks little out of control of her emotions. Besides, she shows a good emotional balance towards her classmates, she seems to show warm towards her classmate. Facial expression is observed as maturely because she intends to smile all the time whenever she is amused to show her pleasure. She continues to responds the teacher apparently pleasantly and in expressive way. She seems to show good interaction with others but little direct eye contact is observed. The overall body movement and body posture is simply frequently wi thout any hesitancy and normally active and responsive. Tone of voice and play attitude is observed as interactive and sociable involvement. There is such as no sudden change in behavior or language tone. Linguistic Development Amani is observed to have language skills of the level of four year old child. She seems to express herself rather using language. In addition, she is observed to use short sentences and no difficulties and hesitation in speaking. Since language development of child depends on its cognitive skills and Amanis cognitive skills is observed as functioning and efficient, her language fluency and efficiency is improved and better than other children in the classroom. The selection of words and fluency in the speaking is extraordinary good with correct use of tense. Social Development However, Amani is observed as an active, balanced and interactive child yet it has been observed that she has very little double-sided interaction with her classmates. She is observed to interact with her teacher but little is observed her interaction with her classmates. She seems to look warmly and positively but she does not show a productive and cooperative interaction; for example, at one point, she rather snatches the scoop from her classmate rather than making a polite request she seems to behave a little intense. Since, a child of 3 or 4 year is capable of waiting of his/her turn and in normal situation can share and cooperate with fellows (Kail, 2007) therefore it was a little surprising aspect of her because she seems to behave normally so far in other development. In addition, social roles and social behavior like learning appropriately and respond to other is observed normally. However, she seems to enjoy being in classroom with other classmates and enjoy the social appea rance. In regard to other social skills like dressing and moving around without any help and doing different activities she is observed doing them independently. She seems to show a parallel social playing behavior like playing alongside but not with another child, not very much interacting and talking to other children in her different activities. She has been observed as cooperative and with high self-esteem- valuing herself as a person and confident. She rather seems to appear a self-reliance person in social development point of view. Child Profile I observed the child thoroughly and assessed her physically, intellectually, emotionally, linguistically, and socially. The overall development of Amani is observed to be normal and healthy. She has shown normal tendency in all level of development including physical, intellectual, emotional, linguistic and social. However, physical development means doing movement either gross or large movement of limbs or fine manipulative movement of fingers (Grych Fincham, 2001). Amani is found to have large movement of her body and her finger by using pencils and writing. Because physical development mainly depends on the body growth and nervous system that sends message from the brain to body it demonstrates the muscles to motivate them to move. There is great relevance of physical development with intellectual development, because if a child physically not fit or shows problems like little movement, hesitation, and inactive, all these symptoms show inefficient intellectual development of chil d. Amani has been observed as physically active and responsive her intellectual and mental capacity can be assessed as normal and frequent. The intellectual development of Amani is found to be mentally active and interactive along with reasoning mind. She seems to understand the environment, the teachings taught in the classroom and questions asked; she seems to answer them intellectually. She is very attentive and concentrated girl along with ability to respond the external environment. She has good imagining, creative ability and problem solving attitude. Moreover, she possesses an ability to utilize conceptualization of her reality and creativity. Emotionally she is a well balanced child with independent attitude; she has got normal body posture, eye contact, language tone and unchanged behavior. Moreover, her body language and facial expressions are even and warm towards other mates. In linguistic development I observed that she has ability to use language to express her and the re is fluency in the way of her language. Socially she is active, balanced and inter-active child, she is warmly and positive towards interacting towards her mates. She has good learning skills as a social roles and social behavior like learning in a group appropriately. She is socially independent and warm and communicative and responsive. She is expressive, social, cooperative and sharing the things. She has got remarkable cognitive skills and memory power. Different social activities like eating, moving in group and responding; these are those abilities which are extraordinary brought on in her. Common child features of asking questions about the things that they do not know or do not understand, in Amanis case it are bit different in the way that she does not asking question but answering the question rather. Another thing that is important to conclude is her overpowering and strong and intense feeling about her movement. She is intelligent, cooperative, talkative, communicative , and furthermore, creative and imaginative with good self confidence. According to Gambrell (1994) the child who is motivated to learn has many reasons to read and it also includes knowledge gaining, on the other hand Amani is not observed for reading, which can prove her learning motivation. Nevertheless, she is motivated to learning and learning in group which is undermining part of her development.

Leibniz: Theory of Monads

Introduction Whether ultimately correct or not, Leibniz rejects both Cartesianism and atomism. What ought not be missed is that throughout his objections Leibniz's focus never strays far from the mereological issues of wholes, parts, their unity, etc. Indeed, the very nature of his arguments against the mechanist project clearly demonstrate Leibniz's underlying concern for the problem of the continuum, which seems never very far from his mind. (Thompson) In rejecting Cartesianism, Leibniz's concern is with its inability to make sense of the whole, except at the expense of the reality of the parts. In rejecting atomism, his concern is with its inability to make sense of the parts, except at the expense of the unity of the whole. Neither can provide illumination sufficient to escape from the second labyrinth, and the entire mechanist project therefore finds itself impaled effectively on both horns of a dilemma. Since the problem of the continuum has so much relevance to the unity of substance, Leibniz considers mechanist philosophy inadequate. (Brown) Remaining entirely in character, it should not be surprising that Leibniz's own metaphysics is most fundamentally an attempt to reconcile the mechanistic philosophy to that of Aristotle. He attempts to take the best of each of these two systems and synthesize a new theory that manages to escape their individual defects. (Thompson)   Monads are the unit of substance which supposedly bridge the gap between the old and the new, and plug the holes in mechanist theories. Thus, it is with this in mind that his argument for the existence of monads must be examined, for it is the very heart of Leibniz's theory of substance. At the core of Leibniz's metaphysics one finds monads, which are dimensionless and â€Å"windowless† centers of force, the true substances that comprise the created universe. Infinite hierarchies of monads populate the continuum of all created things, each one mirroring the rest of the universe from its own unique point of view, expressing every other monad with a greater or lesser degree of clarity. Monads are the â€Å"metaphysical points†, so to speak, which are the indivisible, unified, and simple substances that are the foundation of the created world. (Mercer) Distinguishing Features of Leibniz's Ontology There are two particularly significant distinguishing features of Leibniz's ontology as a whole. In brief, Leibniz's ontology remains as true to his desire to be the great reconciler as it does to his expectations for substance, epistemology, and the problem of the continuum. This ought not be forgotten amidst the details that follow. Monads are a Synthesis of Old and New It is not surprising, in light of Leibniz's reconciliatory nature, that monads bear hallmarks of both Aristotelian and mechanistic philosophy. In terms of the former, they do the work of substantial forms, possessing an entelechy which guarantees that they unfold through time as they ought. In terms of the latter, they do the work of atoms, explaining how features in the phenomenal world (i.e., the macro-level world) come about as a result of changes of state in the real world of monads (i.e., the micro-level world). The monad is, by its very definition, designed to leverage the strengths of the two opposing theories, while simultaneously inheriting none of their defects. (Mercer) From this it is clear that Leibniz's theory of substance is determined by his expectations, and by the perceived failures of mechanism. In assembling it, Leibniz borrows liberally from what he considers the best features of the old and the new. Regarding those aspects in which Leibniz finds either of them inadequate, he crafts his own philosophy so that it avoids said inadequacies, essentially by definition. Qualitative, not Quantitative What is arguably most interesting and quite unique about this synthesis of systems is the shift in focus. To elucidate, Leibniz sees the mechanist philosophy as a fundamentally quantitative and extensive endeavor. The Cartesian defines the very essence of body as extension, which is quantitative in its extensive nature. Similarly, the atomist cannot help but construct the macro-level world by aggregation, through the grouping of many extended entities in the micro-level world, which is also quantitative by nature. Both variants of mechanism therefore sustain a quantitative and extensive view of the relationships between wholes and parts, explaining or reducing qualitative features of the macro-level world in light of or to quantitative features of the micro-level world. (Mercer) Given the problems he finds with quantitative theories, Leibniz concludes that that the correct theory must instead be uniquely qualitative and intensive, rather than quantitative and extensive, and this unique notion is given flesh along very Aristotelian lines. Latta (1965) provides the following apt description: Accordingly, the essence of Leibniz's argument is that a quantitative conception of the relation of whole and parts affords an inadequate theory of substance. The common element in the contrary positions of the Cartesians and the Atomists is the explicit or implicit reduction of qualitative to quantitative differences. And it appears to Leibniz that the solution of the dilemma is to be found in the opposite hypothesis, namely, that the essence of substance is non-quantitative, and that the relation of whole and parts must be conceived as intensive rather than extensive. Thus a ‘simple substance' has no parts, i.e. no quantitative elements, and yet it must comprehend a manifold in unity; that is to say, it must be real, it must be something, it must be qualitative, specifically determined. (p. 27). The suggested intensive view of the relations between parts and wholes is noteworthy for its novelty if nothing else. What Leibniz seems to have in mind is that the parts of a whole somehow â€Å"participate† in that whole, and similarly that the whole somehow â€Å"participates† in all of its parts. The nature of this participation isn't entirely clear, but it is certain that the conception Leibniz holds is not the traditional understanding of the part-whole relation. There is something deeper at work here, some understanding that is intended to allow both the parts and the whole to remain distinct and unified, the parts in themselves and the whole through its special relationship to the parts. (Thompson) What Leibniz seeks is some sense in which the whole somehow mirrors or expresses all of its parts, containing within itself the explanation for why the parts are precisely as they are. And similarly, the parts must somehow mirror or express the larger whole as well, containing within themselves their explanations, while also mirroring the explanation of the whole, albeit with a lesser degree of clarity. The important degree of mutual inter-participation is what is key to the more organic or holistic relationship Leibniz intends. (Swoyer) Despite the present vagueness, however, this much remains clear: Leibniz believes that the part-whole relation in genuine unities must be something far more special than other philosophical systems have taken it to be. Leibniz's use of monads is therefore intended not only to reconcile Aristotle with the mechanists, but also to lay the groundwork necessary to make such a special relationship logically possible and plausible. (Thompson) The Argument From â€Å"The Monadology† In the first few sentences of â€Å"The Monadology†, Leibniz gives one formulation of his argument for the existence of monads, a formulation which might be described most charitably as terse. Though this is not the only argument Leibniz gives for monads, it is probably the most well known. As early as 1671, for example, Leibniz argues for monads qua indivisible unextended things, though in a much different fashion involving the proper beginnings of extended entities. (1969, p. 139-140) Because his earlier argument is even more terse than the later argument it shall not be discussed any further. It is worth mentioning only because its similarities mark it as a clear precursor for Leibniz's later thinking on the subject. Further, Leibniz claims elsewhere that the existence of monads may be inferred from his doctrine of the pre-established harmony, though his reasons for this remain obscure. (1985, p.80) Returning to the better known argument of â€Å"The Monadology†, while it would be unreasonable to fault Leibniz for his brevity in making the argument, it is nevertheless the case that much remains to be said before the argument can be accepted, rejected, or even understood adequately. Because the monad is at the very heart of Leibniz's metaphysics, one might reasonably expect a more complete formulation of his argument to be possible, just as one might expect Leibniz's critics to focus their attacks upon that argument if monads qua simple substances are to be rejected. For the purposes of this essay, it is necessary to understand this argument and the issues underlying it in order to make clear precisely how Leibniz takes the monad to be united and simple. The following is Leibniz's argument for the existence of monads as given in â€Å"The Monadology†: The Monad, of which we shall here speak, is nothing but a simple substance, which enters into compounds. By ‘simple' is meant ‘without parts.' 2.  Ã‚   And there must be simple substances, since there are compounds; for a compound is nothing but a collection or aggregatum of simple things. (1989, p.213) Common Sense Observations Relevant Observations For Leibniz, the observations relevant to a theory of substance are those of entities in the world. As established already, Leibniz simply looks at the world and takes inventory of what he sees. Among the entities perceived he finds what might be called â€Å"macro entities† of a relatively mundane variety such as tables, chairs, rocks, streams, etc., as well as perhaps not so mundane macro entities such as plants, animals and persons. With the aid of the microscope, one may similarly perceive â€Å"micro entities† both mundane (e.g., crystals) and not so mundane (e.g., unicellular organisms). Further, with the aid of a telescope, one may perceive entities at the large end of the macro scale, if not, in fact, objects of an altogether different order of size. (Mercer) There are two primary points of interest as regards this body of observations. The first is that each entity, because it has extension, is divisible into parts. The second is that despite this divisibility into parts, the entities in question are more or less unities in some sense; i.e., each entity is numerically one, and it is what it is rather than something else. To put these two points a bit differently, this body of observations indicates that for all such objects there seems to be a unified whole, just as there seems also to be discernable parts, which are similarly real and unified. A third less interesting but important point is that in each case one seems to find entities at every scale. No matter how high one turns up the telescope or the microscope, one never reaches the end of things. Wherever one looks, one finds worlds within worlds. Existing Theories This body of observations requires explanation. More to the point, Leibniz takes this body of observations to require an explanation in terms of some sort of substance. In virtue of what is it the case that some particular entity is a whole? In virtue of what is it the case that the parts of that entity are themselves both unified and real? Further, what relations are sustained between the wholes and their parts? And finally, what conclusions may be drawn more generally once answers to these questions have been established? These are the sorts of questions Leibniz has in mind when considering existing theories. A successful theory must address them adequately without falling into either internal conceptual contradiction or external contradiction. That is, the theory must cohere with the present body of observations, just as its predictions (if any may be made) must also cohere with both present and future observations. (Thompson) In terms of evaluating mechanist theories, there are only two that Leibniz takes as plausible candidates, Cartesianism and atomism. As established already, Leibniz considers both of these views to be inadequate for explaining the body of observations under consideration. Having already examined Leibniz's reasons for rejecting these systems in some detail we may move directly to the next step, which involves synthesizing a new theory that avoids the inadequacies of mechanism while embracing its strengths. A Novel Theory of Substance If both ends of the spectrum of mechanist philosophy are unacceptable, then why not head for the middle? Leibniz is convinced of unities in the world because of a wealth of observations, and he believes both the Cartesians and the atomists to be unable to explain such unities with their theories. (Thompson, p. 24-6) What is needed according to Leibniz is a theory whose fundamental unit of substance is both real and indivisible. It must be real for the obvious reason that it simply will not do to explain what does exist by appeal to what does not, and it must be indivisible in such a fashion that it may explain the genuine unity of the observed entities in the world. Further, it must provide a qualitative and intensive, rather than quantitative and extensive, construal of the part-whole relation, as previously discussed. Leibniz concludes, therefore, that what is needed is a new, basic unit of substance:  Ã¢â‚¬ ¦physical points are indivisible only in appearance; mathematical points are exact, but they are merely modalities. Only metaphysical points or points of substance (constituted by forms or souls) are exact and real, and without them there would be nothing real, since without true unities there would be no multitude. (1989, 142) This conclusion, which lays the foundation for the development of the remainder of Leibniz's metaphysics, owes its support to the two factors given earlier as motivations. Most central to it is the fundamental assumption that monadic unity is necessary â€Å"at bottom† for the production of all compound things. In light of this, it is possible to summarize the more complete formulation of Leibniz's argument for monads as follows: P1  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Common sense observations show that real, unified entities exist. P2  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   What is real may be explained only by appeal to something real. P3  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   What is unified may be explained only by appeal to something indivisible. C  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Therefore, the explanation for such entities in the world must involve real and indivisible substances, namely, monads. This bears little relation, prima facie, to the less detailed argument given in the first two sections of â€Å"The Monadology†, but it is nevertheless reducible to that argument. P1 amounts to nothing more than the initial premise that compounds exist. P2 and P3 do not appear at all in â€Å"The Monadology†, but it is tolerably clear from the preceding discussion that these principles are indeed assumed by Leibniz. Finally, the conclusion is just a restatement of the conclusion that monads exist. Again, to restate the argument more succinctly: compounds exist, therefore simples exist. The remainder of Leibniz's metaphysical deductions in â€Å"The Monadology† follow from this more complete formulation at least as well as they follow the abbreviated version. Because monads must be both real and indivisible, Leibniz may argue that they can have neither extension nor form and must therefore be immaterial. Because they cannot be divided, Leibniz may still maintain that they cannot go out of existence in any natural way, by the dissolution of parts. Similarly, they cannot come into existence in any natural way, by the aggregation of parts, and so forth. Thus, this more complete formulation of the argument acts as a â€Å"drop in replacement† for its far more concise sibling. Conclusion To summarize, Leibniz's argument for monads is an enthymeme, an argument with an implied premise. Examining the logical derivation suggests a line of thought that Leibniz's other writings explicitly affirm, namely, that there is no reality without unity. With this additional premise in hand, the argument for monads is rendered formally valid. What's more, this additional premise provides a starting point for untangling the issues previously suggested as problems for monadic simplicity. The close tie between reality and unity prompts one to consider what Leibniz means by ‘simple' in a different light. It seems that what he intends in his argument for monads is not merely that they have no parts, but rather that they also include a kind of indivisibility, an inability to be divided in any way that destroys them. If there is no reality without unity, then things that are fatally separable and thus not unified are not intrinsically real. The relation between reality and unity helps suggest the fatal inseparability criterion for simplicity. Further, it also seems that mereological simplicity and fatal inseparability are but negative entailments of a more positive construal of simplicity, namely, ontological simplicity. A thing is ontologically simple if it stands alone, or described negatively if it is self sufficient in the sense that it bears no internal relations of ontological dependence to any other thing. Such an understanding of simplicity resolves the problems raised previously for the mereological construal, helps to make sense of Leibniz's argument for monads, and coheres nicely with the various other texts in which Leibniz uses the term. References Brown, Stuart. The Young Leibniz and His Philosophy. Dordrecht: Kluwer AcademicPublishers, 1999. Leibniz, Gottfried Wilhelm. (1969) Philosophical Papers and Letters, 2d ed. Translated and edited by Leroy E. Loemker. Boston: D. Reidel Publishing Company, Leibniz, Gottfried Wilhelm. (1985) Theodicy. Translated by E. M. Huggard, edited by Austin Farrer. Open Court Publishing Company. Leibniz, Gottfried Wilhelm. (1965) The Monadology and other Philosophical Writings. Translated and edited by Robert Latta. London: Oxford University Press. Leibniz, Gottfried Wilhelm. (1989) Philosophical Essays. Translated and edited by Roger Ariew and Daniel Garber. Indianapolis: Hackett Publishing Company. Mercer, Christia. Leibniz's Metaphysics. Cambridge: Cambridge University Press, 2001. Swoyer, Chris. (1995) Leibnizian Expression. Journal of the History of Philosophy 33 (1), 65-99. Thompson, Garrett. On Leibniz. Belmont: Wadsworth Publishing Company, 2001.

The Global Financial Crisis and the Imf

Table of Contents 1. 0 Objectives2 2. 0 Introduction2 3. 0 Types of Financial Crisis2 3. 0. 1 Banking Crisis2 3. 0. 2 Speculative Bubble3 3. 0. 3 International Crisis3 4. 0 Causes of the Financial Crisis 2007-20083 4. 0. 1 Loose Monetary Policy. 3 4. 0. 2 Global Imbalances. 4 4. 0. 3 Credit Boom. 5 4. 0. 4 Asset Bubble. 5 4. 0. 5 Financial Innovation5 5. 0 Impact of Financial Crisis6 5. 0. 1 Impact to U. S Financial System. 6 5. 0. 2 Economic Growth Rates. 6 5. 0. 3 Personal Finances of US Citizens. 7 5. 0. 4 High Unemployment Rate. 5. 0. 5 Impact on the IMF9 6. 0 Policy Response9 6. 0. 1 Term Auction Facility (TAF). 9 6. 0. 2 Economic Stimulus Act 2008. 10 6. 0. 3 Initial Cuts in Interest Rate. 11 7. 0 IMF Response to the Crisis12 8. 0 Conclusion14 9. 0 References15 1. 0 Objectives Objective of this topic is to giving a scope about the recent global financial crisis 2007 which discussing about the causes and impacts of the crisis and focusing mainly in the United States. Then, it wi ll focus on the policy response of the country towards the crisis.Role of the International Monetary Fund (IMF) is also given attention to understand how it works as the ‘international lender of last resort’. 2. 0 Introduction Financial institutions which play an important role in the economy, act as intermediaries between borrowers and lenders. Channelling of funds to individuals or firm that have bright investment opportunities takes place in the financial markets. Without financial intermediaries, it is difficult for companies to operate business. The economy also cannot operate efficiently if the financial system does not perform the role well.Systematic risk is a risk that could be failures of financial institution that freezing up capital market and eventually reduces the supply of capital to the economy. The United States experienced this systematic failure during 2007 and continues to struggle its consequences until 2009. Financial crisis occur when an economic encounter recession or depression caused by lack of liquidity in financial institution. In this circumstances, financial institutions lose huge part of their value. Financial crisis is not the same as economic crisis which affect the entire economy.A financial crisis can occur in a single sector and not always affect other sectors. The causes of financial crisis are different with the type of crisis. The financial crisis 2007-2008 started in August 2007 as a subprime mortgage crisis concentrated in the United States. The crisis became global but originally started in the financial sector of the United States and soon became global economic crisis. Mostly economies in the world were affected by this crisis because the United States economy can be thought as powerful economy in the world. 3. 0 Types of Financial Crisis . 0. 1 Banking Crisis Banks normally function by providing deposit accounts to people who want to make savings and it can be withdraw anytime. The banks then use these deposits to make loans and charge interest to borrower which are paid over a long period of time. If all the depositors want to withdraw money at one time, the banks will face lack of cash flow and will be bankrupt. This situation is called banking crisis. 3. 0. 2 Speculative Bubble Some people buy stock by speculating the price, hoping that price of the stock will increase in the future.Therefore, if most investor buy stock speculatively, chances that the stock price will increase are be very high. When all the investors want to sell at the same time, then the price will likely to fall. When price of a stock is more than its current price plus dividends and interest, then the stock is said to show a bubble. 3. 0. 3 International Crisis This crisis occurs when a country is forced to devalue its currency. This can happen either because of speculative attack or a country is default in paying its debt. When this occurs, all countries that were trading with this country will be affected .Investors also will lose the value of their investment because the currency has been devalued to lower rate. 4. 0 Causes of the Financial Crisis 2007-2008 4. 0. 1 Loose Monetary Policy. Monetary policy implemented by the Federal Reserve plays an important role in determining the interest rate. It is believed that loose or weak monetary policy implemented by the U. S Federal Reserve is among the cause to the crisis. After the internet or dotcom bubble in 2000, loose monetary policy is applied by the U. S Federal Reserve. The federal funds rate dropped from 5. 8% in January 2001 to 1. 73% in January 2002 and remained low for several years as shown in chart 1. This policy thus encourage U. S consumption, reduced savings and created high current account deficit. The Federal Reserve had made mistake by its decision to keep the federal funds rate too low for too long. The policy therefore responsible for creating the credit boom and housing bubble. In other words, with a low federal fund s target, banks take advantage on cheap funding and made cheap loans available. From year 2000 to 2006, total debt outstanding for the U.S has increased by $13. 5 trillion. The debt to GDP ratio is increased to 350%. This high level of debt made firms and households more exposed to adverse economic shock. Other than that, the Federal Reserve and regulators made mistake in the failure to control the poor underwriting standards in the mortgage markets. The poor underwriting practices can be seen through no down payments, no verification of income, asset and occupation by borrowers. Credit that was widely available suggested poorer loan quality. Chart 1: Loose monetary policy Source: Adapted from The EconomistChart 1 shows that the actual interest rate fell below the Taylor rule, that is the interest rate what historical experience suggest policy should be adapted. The line slopped downward to 1 percent in 2003 to 2004 and then rises until 2006. The Taylor rule line shows what interest rate would have be if the Fed followed the policy that worked well since the early 1980. 4. 0. 2 Global Imbalances. The recent financial crisis happens when there is much liquidity in world capital markets. It is due to the large payment imbalances between the main countries and regions in the world economy.Global imbalances occur when there is huge and continuing current account deficit in the United States. The current account deficit is financed by plenty of flows of capital from emerging and oil exporting countries. As the consequences, the global imbalances encourage financial activity that would not be effective in long time without the development of deep global financial markets. High levels of global liquidity happens when countries such as China built up current account surpluses and foreign exchange reserves, maintaining artificially low exchange rates and a positive saving investment balance.Because of this liquidity level, global real interest rates fell which contribu ted to credit expansion and rising asset prices that drives to the crisis. 4. 0. 3 Credit Boom. Credit boom happens when banks and mortgage brokers encouraged mortgage sales because they earned fees in proportion to the volume of mortgages they wrote. Banks earned large fees by securitizing mortgages, selling them to capital markets in forms of mortgage backed securities (MBS) and collateral debt obligations (CDO). Since banks distributed these mortgages to capital markets as asset backed securities, it has low risk upon the process.Compared to corporate bonds that had low interest rate during the time, these complex and risky products is highly demanded by institutional investors such as hedge fund and insurance companies. Mortgage sales expanded even to those who could not afford them as the banks only focused on earned large fees. When the housing price bubble evaporated or interest rates rose it turned out to be large defaults. Home sales peaked in late 2005 meanwhile home const ruction spending and housing prices decline in early 2006. When the subprime mortgage crisis started in 2007, the entire market began to collapse.The crisis began in the United States, but because the mortgage based financial products has been spread around the world it soon became global financial crisis. 4. 0. 4 Asset Bubble. Another factor to the financial crisis is an asset bubble that leads to unsustainable leverage. Before the start of the crisis, the U. S government implemented a public policy that encourages homeownership. Because of low interest rate, it has led to mortgage lending and households were encouraged by the banks to borrow causing asset (house) price to increase.The borrowing is allowed up to the full value of their property with little regard to their ability to service the debt. Borrowing is encouraged because of the low interest rate made by monetary policy makers. The demand for housing is related to money market interest rates. Thus, the accommodative polic y conducted by the Federal Reserve contributed to the build up of housing demand and asset prices. The term sub-prime mortgage come when lending activities is also approved to people who did not meet the credit requirements that may default to payments. 4. 0. 5 Financial Innovation.Usually, banks and other agents innovate to avoid regulation and boost returns by taking greater risks. When asset prices increase more rapidly, innovation also accelerates as expected gains grow larger. The main innovation is the process of securitization. This complex ‘securitized’ pools of loans promising high returns with low risk. Thus, in the United States, ballooning mortgage loans to riskier borrowers provided the basis for an ever-larger inverted pyramid of structured products. As the housing prices increasing, lenders provide mortgage lending easily.However the mortgage were securitised, that is repackaged and sold as financial instruments to investors for immediate cash. This led t o excessive and irresponsible mortgage lending. The institutions that originated the mortgages such as commercial banks, savings and loans eventually did not holding the mortgages because it has been sold to investors by the investment banks. This innovation has caused massive distortions in incentives and risk management in the financial organizations. It was an instrumental in strengthen the increase in leverage.Starting in 2003, banks involve rapidly in financing activities, investments and hedging operations that hard to assess risks. When asset prices began to fall, financial organization brought down together and spread panic among investors worldwide. This development has caused massive distortions in incentives and risk management arrangements within financial organizations. 5. 0 Impact of Financial Crisis 5. 0. 1 Impact to U. S Financial System. The U. S government has closed 22 banks including Lehman Brothers, Washington Mutual and Indymac.Other than that, it has rescued F reddie Mac, Fannie Mae, Bear Stearns and created a bailout fund around $700 billion to purchase stakes in effected banks. This step is taken in order to restore confidence in the financial markets. However, this $700 billion Troubled Asset Relief Programme (TARP) failed to restore market confidence. Nearly $8. 5 trillion or around 60% of its gross domestic product has been committed by the U. S government to prevent the collapse of its financial system. 5. 0. 2 Economic Growth Rates. The effect of 2007 crisis can be seen clearly on the downturn economic growth globally.As shown in Figure 1, countries in the world are experiencing a downturn in economic activity as the effect of financial crisis. These declines in economic activity have been followed by losses of trillions of dollars in equity markets and a credit squeeze that are affecting households and businesses worldwide. Financing activities such as world trade and oil exploration has been slow during the time of crisis. As sho wn in chart 2 below, real growth rate measured by GDP across the world has been decreased. Real growth rate in reported by the World Bank is 3. 9% in 2007 dropped to 1. 3% in 2008.As the crisis became worsen, economic growth dropped much lower rate to -2. 2% in 2009. The U. S economy has a large proportion in world economy therefore it has slightly similar trend in the growth rate. The U. S real growth rate in 2007 is 1. 9% dropped to -0. 4% and -3. 5% in 2008 and 2009 respectively. Chart 2: GDP – real growth rate (%) Source: Adapted from World Bank data 5. 0. 3 Personal Finances of US Citizens. People have struggled to repay their debts as the direct consequences of the financial practices that produced the crisis. The value of house dropped dramatically for individuals who owned house before the crisis broke out.This caused some people repaying mortgages that are worth more than the current value of their house. Eventually, many people ended up losing the house that they bo ught in years before the crisis broke out. There were high rates of foreclosure in some area of the United States as borrowers cannot repay the loans. Other than that, individuals in the US also suffered from the loss of growth and income that their savings and investments would have produced. This is because interest rates for savings have dropped sharply. Investors and companies experiencing losses as the stock in many companies dropping rapidly.Retirement plans that are usually based on mutual funds and performance of the stock market results not as they had planned as the stock market crashed. They may need to work longer or retirement plans is less than expected before. Moreover, it has become more difficult to borrow money. While expensive loan services have been expanded, people find it hard to obtain low cost loans or credit cards. 5. 0. 4 High Unemployment Rate. The US gross domestic product which is the total amount of goods and services produced by the country was reduced as the effect of the crisis.Companies in the country struggled to cope with the crisis, however lots of people have lost their jobs. Based on chart 3, the uneployment rate grew from 4. 7% in 2006 to 10% in 2010 which was the highest rate in the last few decades. In addition to lose income, unemployment made it worse for many people because it has become difficult to find new job. Many companies are not willing to hire new employer and even a fresh graduates have to compete to find employment. This become a serious problem for many young citizens in the country. Chart 3: Unemployment rate in the US Source:Adapted from U.S. Bureau of Labor Statistics 5. 0. 5 Impact on the IMF The damage caused by the financial crisis is a challenge for the IMF. This is because, its financial resource is not in line with the global economy over the past decade. The United States and other advanced industrial economies are at the center of the crisis. However, the IMF would not have enough resources to provide financial assistance if these countries seek for help. Therefore, the IMF resources need to be increase or the risk would become worse in the future. 6. 0 Policy Response 6. 0. 1 Term Auction Facility (TAF).The Term Auction Facility is introduced in December 2007 so that banks can borrow from the Fed easily. Thus the banks can bid directly for funds from the Fed. This is because investors are not willing to lend when afraid about the condition of many financial institutions affected by the crisis. Consequently bank funding markets were put under severe pressure. The main objective of the TAF was to reduce the spreads in the money markets and in that way increase the flow of credit and lower interest rates. As a result, the TAF helped by encouraging the distribution of liquidity when bank funding markets were under stress.The spread between the London interbank offered rate (Libor) and the overnight indexed swap (OIS) for loans of one-month maturity or longer increased to un usually high levels in the late 2007. It is believed that the increase in the Libor–OIS spread is caused by the heightened risk perceived by investors at the time. Since Libor affects interest rates on a wide variety of loans and securities (for example, home mortgages and corporate loans), the sudden spike in the spread was disruptive to the debt market and negatively affected the economy.The chart 4 and the table below also showed six announcements related to the TAF program. Chart 4: The TAF facility provided term funding through periodic auctions to eligible depository institutions. By providing term funds to banks at regularly scheduled auctions, the TAF may have assured lenders of continued access to future funding and thereby reduced their uncertainty regarding anticipated funding needs. The TAF was a facility designed by the Federal Reserve during the crisis to improve liquidity conditions in various asset markets that is crucial to improve short term funding market. . 0. 2 Economic Stimulus Act 2008. The Economic Stimulus Act 2008 is a response made by the government through several package totalling over $100 billion to individuals and families in the United States. The economic stimulus is designed to boost the U. S economy and prevent further recession. In this programme, the government provide tax rebates to low and middle income taxpayers and tax incentives to stimulate business investment. The purpose of the incentives is that the people will have more money to spend thus increase consumption and the economy.By doing so, the government would expect that it will recover the economy. However it is not as hoped because they spend little although the incentives were given. This can be shown through chart 5. The top line shows personal disposable income increased at the time of rebate. However, the lower line shows consumption did not increase as expected. Chart 5: Increase in income 6. 0. 3 Initial Cuts in Interest Rate. The third policy resp onse to the crisis is sharp reduction in the federal funds rate. When the crisis began in August 2007, the rate was 5. 25% and went down to 2% in April 2008 due to the cut.The lower interest rate then reduced the size of adjustable rate mortgage that was cause of the crisis. The most significant effect of this response is the depreciation of dollar and rise in oil price. In the early 2008, oil price increased almost two fold from $70 per barrel in 2007 to over $140 per barrel. High oil price hit the economy as gasoline price increased dramatically and automobile sales plunged. On the other side, the policy reduction in the federal funds rate that cuts interest rate helped raise oil and other commodity prices thus prolonged the crisis. Exchange rate also has influence to the rise of oil price.As shown in chart 6, reduction of the federal funds rate at top line in July 2007 drives the oil price at the bottom line upward until July 2008. Chart 6: Cut in interest rate and increase in oi l price 7. 0 IMF Response to the Crisis The main role of the IMF is to identify the risks that threaten global economic and financial stability and to develop policy responses. The IMF has a worldwide membership and its mandate is to promote economic and financial stability. It is has been provide forum for discussion of international economic issues and help to reach solution on policy responses.In response to the financial crisis, the IMF boosted their lending to developing countries to help them cope with the crisis and to sustain the economic recovery. To meet ever increasing financing needs of countries hit by the global financial crisis and help strengthen global economic and financial stability, the Fund has greatly expanding its lending capacity since the start of the global crisis. It has done so both by obtaining commitments to increase quota subscriptions of member countries and securing large temporary borrowing agreements from member countries, including recent pledges of $456 billion.Countries affected by the crisis can borrow funds from the IMF. Other than that, there is also debate about reforming the IMF. The reformation issues focus on the need to balance the traditional functions of providing short-term financial assistance and promoting external balance stability in member countries. To achieve the objective, there is a need for a wider responsibility of crisis prevention, supporting financially for countries that, although not suffering actual reserve shortage, are in danger of external shocks and liquidity runs. This measure would prevent more severe impact to member countries as the effect of financial crisis.Since year 2008, the Fund has introduced effective instruments to prevent sudden falls in investors’ trust and the eruption of liquidity crises. As a result, borrowers were able to cope with the global crisis, avoiding large scale banking crises and disruptive exchange rate movements and protecting social spending. To prevent the crisis, the IMF has lending arrangements signed by the IMF and low and middle-income countries during the crisis. These lending arrangements take part from January 2008 and June 2010. The size of the loan arranged by the IMF is larger for country that is more exposed to the crisis especially for large country.As a result this measure can prevent more severe contagion of the crisis to other countries. 8. 0 Conclusion The U. S. economy has suffered a few major shocks in recent years during the crisis. At the start, these shocks include a large declining in house prices and a spike in the prices of oil and other commodities. The decline in house prices reduced the value of mortgage backed securities. Because of leverage, this threatened the ability of many of financial institutions, including major investment banks. These shocks have combined to put the U. S. conomy and many economies throughout the world into a global financial crisis and a deep recession. It is likely the worse since the Great Depression in 1930sRegulatory failure is a main responsibility for the crisis. It is shown that weak regulatory in the financial system leaving the consumers inadequately protected. To cope with this crisis, the IMF had played an effective role. It has come out with a financial assistance by providing loan arrangements to the member countries. 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