Acounting for pensions Essay Example | Topics and Well Written Essays - 250 words

Acounting for pensions - Essay Example However, most employers invest the pensions to be managed by a separate entity. The entities that manage the pensions recognize the assets and liabilities on their net values. The accounting practices for pensions faces a lot of criticism such as lack of clarity in the disclosure of the postretirement accounting information. The accounting practices ignored the importance of full recognition of the effects of pension contracts on the company’s performance. For this reason, a big deal of pension contract related costs are borne by the users of such information. Secondly, some investors have expressed concerns on the reporting of gains and losses. They propose the elimination of the smoothing of gains and losses as allowed under GAAP. This method should be replaced by a separate recognition of pension plan’s assets and liabilities on the balance sheet. Lastly, preparers criticize the short-term approach to accounting for pension transactions (The United States Securities and Exchange Commission 49 – 59). In view of the above criticism, the staff members propose an improvement regarding the accounting practices. First, they suggest a long-term approach to accounting for pensions since the post retirement contract is long-lived. Second, further disclosures besides those contained in the financial statements should be provided to ensure further clarity of the contents of the financial statements. Lastly, the staff proposes that issuers should give more time the preparation of the postretirement financial information in order to facilitate the provision of more useful information to the users (The United States Securities and Exchange Commission 107 – 108). The United States Securities and Exchange Commission. N.d. Report and Recommendation Pursuant to Section 401 (c) of the Sarbanes-Oxley Act of 2002 On Arrangements with Off-balance sheet Implications, special purpose

Designer Babies- Has Genetic Engineering Gone Too Far?

Designer Babies- Has Genetic Engineering Gone Too Far? The colloquial term designer baby refers to a baby whose genetic makeup has been artificially selected by genetic engineering combined with in vitro fertilization to ensure the presence or absence of particular genes or characteristics. (1) The process of creating a designer baby is often questioned mostly because of its lack of agreement by experts on a moral platform. Embryo screening involves a process called pre-implantation genetic diagnosis (PGD). Genetic engineering of babies can change possible traits such as gender, appearance, intelligence and disease. In-vitro fertilization is used to create embryos that are then grown to the eight-cell stage, when one or two cells are removed. Scientists then examine the DNA of these cells for defects, and only normal embryos are replaced in the womb (3). In this essay I will discuss and include points on whether or not scientists are interfering with nature, safety issues around creating designer babies, the superiority of designer versu s non designer babies and whether the possible life saving benefits of designer babies outweigh these other issues. My opinion is that the negatives far outweigh the positives; however I will lay the foundation for both sides so that I may leave the reader to reach their own conclusions. Adam Nash, born in 2000, was the worlds first known designer baby. This was hailed as not just a medical innovation, but one with a definitively life-saving purpose. If Adam had been created naturally he would have inherited his sisters Fanconis anaemia. She was saved from the disease, as after his birth, blood cells from his umbilical cord were transplanted into her body. (2) Adams birth even though it seemed artificial without question had served a vital purpose. Though there are certainly some positives that can be obtained from the use of genetic engineering used on unborn babies, it is now heavily debated whether parents have the right reasons to genetically modify their baby. One of the main issues with genetic engineering is that scientists could be perceived as interfering with nature and in effect trying to play God, by cheating him out of his chance to decide whether, for example, we are blonde or dark haired or if we have blue or bright green eyes and ultimately whether indeed it is right to do so in the first place. If designer babies became prevalent, a potential social problem could be a new rivalry between designer and non-designer babies. This could create a hostile environment where genetically engineered children could somehow feel superior over non-designer children. This could become a new social problem akin to existing and troubling ongoing prevalent race issues within our society. Scientists do not yet know absolutely everything about the way that the human body functions works, therefore how can they possibly understand the ramifications of slight changes made at the smallest level? They may manage to wipe out one disease and without int ent to harm introduce something even more dangerous? My view is that it would seem unfair for the baby to be treated like a tool instead of a human, as this could potentially violate human rights. The experience of Adam Nash in saving his sister was relatively non-invasive experience as only the blood cells from his umbilical cord were used. However in other cases where bone transplant is the only available option, the providing child will undergo painful invasive treatment. How can someone as fragile as any human being be fairly treated in such a cruel manner? Genetic modification of the DNA in human embryos would not only affect the individual but their children and their childrens children and so on down the generations. Advocates argue that it could not only halt the inheritance of genetic diseases that run in families, but it could also pass on unforeseen medical problems that the procedures may cause. At first it may seem that the negatives of genetic engineering may outweigh the positives, but if one looks closely, a number of benefits that can be achieved by scientists wishing to study and advance this study. There is the potential to live longer because of the advances of modern medical science and genetic engineering. The main aim of technologies that are used as gene editing is the ability to precisely control changes to very specific areas of the genome giving such technologies a powerful ability. There are around 7.9 million children each year are born with a serious birth defect and the unlocking of gene editing could be for some the only way to fight genetic disease and be a life saving option. (4) One could suggest that if these errors could be safely corrected at the embryonic stage then maybe there would be hope to virtually remove this burden of disease. Embryos that would otherwise be destroyed could advance greatly through gene editing techniques. For example the gene which causes children to develop normally for six months and then become progressively deaf, blind, unable to swallow, and paralytic, before dying at four (Tay-Sachs disease) (5) it could be argued that nothing would be lost by can be lost by editing this gene out of the human lineage. Similarly parents who have Huntingtons disease carry a 50% chance of passing that gene down to their children (6) and, even if they do not, they are likely to be carriers of the disease. It would be very difficult to stop people from having children if they suffer from a disease like this, therefore genetic engineering can help to ensure that their children live long and healthy lives. The modification and precise editing of human embryo can be seen by many Scientists taboo since they feel it crosses an ethical line . Some state that no matter what genes are targetted, the key risk in crossing the line would be unpredictable consequences, and any interference with our innate genome would be dangerous, chaotic and uncontrollable. Even the mere dipping our toes in the gene pool will cause large ripples and thus it would be better not to dip at all. But the capability is becoming ever more likely. Scientists at Sun Yat-sen University in China have recently developed a host of genome editing procedures used as a first study of its kind to modify the genes of a human embryo, (7). However even though these procedures on the face of it seem to be very exact, simple to use and powerful questions on how safe they are, how they should be used are just not clear enough. In conclusion the impact on society is hard to predict, but several ethical questions certainly arise. The huge cost of the procedure means that few families probably will have access to the procedures, which could create a wide divide between the poor and the genetically altered wealthy. It is possible that genetic diversity also be greatly reduced, leaving the human race susceptible to certain diseases. While the basic intentions of the science behind designer babies are positive, the potential for ethical compromise is great. I would therefore argue that the human race in its pursuit for intelligence and athletic aptitude could leave the genetic Pandoras Box open to unknown manipulation and therefore would be better placed not continuing such technologies. Using this technology to have better looking children or to have more desirable traits is an idea that may seem appealing, but in reality, is it actually something scientists should be doing? I would say no.

Save the Last Dance Essay -- Art

Save the Last Dance This movie was off the hook! First of all, these are the type of movies that should be known to mankind. Save the Last Dance, is a blend of love and romance with a little piece of hate crimes, racism, and of course most definitely violence. Well to tell you the truth, most of the people don’t like love and romance. Save the Last Dance is a nice blending of a little piece of everything so it can entertain the people with different likes and dislikes. Even the people who don’t like these types of movies would be interested in the movie Save the Last Dance. The name of the movie can leave the viewer in suspense. Just think of it as a phrase, Save the Last Dance. The theme of this movie is plain and simple. Sarah is trying to peruse her dream, which is to try to get accepted into Julliard. She kept on trying and trying until the end. She finally impressed the judges and made him say â€Å"Welcome to Julliard.† The movie is basically trying to tell you that you should never give up, no matter how hard you try. If at first you don’t succeed at what you want to do, try try again. If you give up, then you should look in the mirror and say â€Å"I am a quitter.† The characters of this movie are: Derrick Reynald (Chennile’s brother), Chennile Reynald (Derrick’s sister), Niki (Chennile’s friend), Malachi (Derrick’s homeboy), Roy (Sarah’s dad), Momma D (Derrick and Chennile’s grandmother), Kenny (Chile’s boyfriend), Snookie (a wannabe thug), and last but definitely...

Article Review of Smoking

Addictive items have become one of the most significant health problems. The countries will be affected medical,economical,legal and social effects because of the use of addictive items. In this study is to identify and compare the number of basic students in Germany and Turkey. Turkey is one of the leading tobacco producing countries as well as of the major tobacco consuming countries. Smoking is very addictive and has effects both on economy and health. That is not easy to quit smoking because in statistic only 2-3% of smokers can quit smoking annually.Many of the adults start smoking at early ages and increase the amount of cigarettes smoked in adulthood. There also people say that smoking is because of personality traits. Up to now,no specific personality traits are identified as a risk for addiction to smoking. The methodology used in this study is survey by using questionnaire. First,the researcher make a sampling. The participants of the study are a total of 1024 German and Tu rkish basic education.Second,the data were collected through survey questionnaire because this study is an empirical one. Third,the data obtained were analysed by make use of descriptive statistical techniques,especially in the form of means,frequency and percentage. The findings or results in this study suggests that the rate of both German and Turkish students who frequently and sometimes smoke is higher than expected from their ages. However,the rate of the students who tried to smoke in both sample groups is also interesting.The findngs also indicate that the rate of the students who stated that their mothers, fathers, friends and teachers smoke is high. However, the rate of mothers and friends who smoke in the Turkish sample is lower than that in the German sample. Although in both sample groups the rate of the students who may try to smoke once is high, this rate varies between the groups. More specifically, the number of the German students who reported that they may try to s moke is much higher in contrast to Turkish participants.

Body Image Outline Essay

Introduction 1. Beauty. It poses the age old question, is beauty in the eye of the beholder or is beauty only skin deep? a. Where does the obsession to be beautiful come from? b. We are all taught at such an early age that looks do not matter, yet we live in a society that seems to contradict this very idea. c. Magazines, reality shows, billboards†¦ they all promote a certain body image as being beautiful, and it is a far cry from the average woman’s size 12. i. (FIRST SLIDE) Read more:  How to write an informative essay outline d. Body image is a pressing issue that plagues all men and women alike. 2. The obsession of many young girls and guys over their body image has led to an increasing number of people who have developed an eating disorder to try to deal with their lack of self-esteem or other related problems. a. According to an article in Psychology Today, the most common of these eating disorders include Anorexia Nervosa, Bulimia Nervosa, Binge Eating, and Muscle Dysmorphia. 3. In a recent survey of 185 students on a college campus through the Nutrition Journal, 58% felt pressure to be a certain weight, and of the 83% that hardcore dieted for weight loss, over half of them were already at a normal weight pre dieting. a. It was also recorded through the ANAD Foundation that eating disorders are recorded to be the 3rd most chronic illness of young adults. Body (SECOND SLIDE) 1. The media’s use of airbrushing is one of the major causes of these impossible standards of beauty. a. Leah Hardy, a former editor of Cosmopolitan, admitted that this is true†¦ many of stick-thin models in Cosmo were actually struggling with eating disorders, but were airbrushed to look less unwell. b. In an interview with the Daily Mail, Hardy stated that the models had 22-inch waits, but they also had breasts and great skin. They had teeny tiny ankles and thin thighs, but they still had luscious hair and full cheeks. Thanks to retouching, our readers never saw the horrible,  hungry downside of skinny. The models’ skeletal bodies, dull, thinning hair, spots and dark circles under their eyes were magically erased away by technology†¦ a vision of perfection that simply did not exist. c. By airbrushing these models, the media gives young girls the idea that this body image is attainable—and by trying to look like these models, these girls become just as unhealthy. 2. Although media plays a huge role in holding such high standards for beauty, it is recorded that pressure from friends and family tend to out rank the media and start at a very early age. i. (THIRD SLIDE) b. Eating disorders can be triggered by lack of support following traumatic events such as bereavement, relationship problems, and abuse, according to the Journal of Clinical Nursing. c. Family relationships are complex and central to the development of a child’s sense of self. d. According to a study from the University of Florida titled, â€Å"Too Fat to Be a Princess?† nearly 50% of all children aged from three to six were already concerned about their weight. e. Criticism and teasing from parents, siblings, and peers shape how young children perceive their bodies. f. Experts say the children who develop eating disorders are mostly girls who are often following examples set by their most favorable role models; their mothers. 3. Along with pressure from one’s family and friends, there are several psychological factors that contribute to eating disorders. a. Among some of these psychological factors include i. Depression, anxiety, feelings of inadequacy, and low self-esteem. b. Many studies have been done on the relationship between these psychological behaviors and eating disorders; all have concluded through various measures that there is a strong relation between the two. c. Too often, the result of an inadequate self results in the distortion of eating. Conclusion 1. In conclusion, the unrealistic standard of beauty that men and women are bombarded with everyday gives them a goal that is nearly impossible to reach, and the effects are devastating. 2. Theses impossible standards need to be stopped, and society instead needs to promote a healthy body image  along with the idea that men and women of all shapes and sizes are beautiful—not just those who are size 2.

Hitler vs. Churchill essays

Hitler vs. Churchill essays Adolf Hitler wasnt always a cold-hearted dictator. He, believe it or not, was a regular little boy who rose to a monster. He was born on April 20, 1889 in Braunua, Austria. He was the fourth child of Alois Hitler and Klara Polzl. His father was a very strict man and demanded the highest respect from his children. He enforced this with the occasional slap upside the head. I think this is partially what drove him to insanity. The other part, I think, comes from his mother. His mother was overprotective of him and did nothing but shower him with love. To a certain extent, that can make you go crazy! The infant Hitler lived in his hometown until the age of three. At this point his family moved to Passau, along the Inn River on the German side of the border. The family moved once more after the birth of his brother Edmund. They were now located on a farm in a town 30 miles southwest of Linz. There, his sister, Paula, was born. That made the 5th full-blooded sibling. He also had two half siblings from his fathers previous two marriages. As a child, Adolf wanted to be a priest. For a portion of his life, he lived across the street from a large Benedictine monastery. By the beginning of a new century (1900) Hitler started to paint. He became a great artist. As a child he flipped flopped what he wanted to be when he grew up. He wound up going to the school that his fathers choose. He was enrolled in the Realschule. He did not do well there. In the year 1903 Alois Hitler died. He suffered from a pleural hemorrhage. Approximately two and a half years later he dropped out of school. This was partially because he suffered from lung infections and partially because of the result of poor schoolwork. Only four years after the death of his father, his mother died. She died on December 21, 1907. She had developed terminal breast cancer and after being treated by a Jewish doctor. Hitler then spent six years in Vienna virtual...

The Best SAT Math Practice Tests and Questions

The Best SAT Math Practice Tests and Questions SAT / ACT Prep Online Guides and Tips For SAT Math prep, no matter your strategy- whether you’re doing self-study, taking a prep class, or working with a tutor- you need to be working with real SAT Math practice materials. The SAT Math test will be different from any other math test you’ve taken. You need to work with the real material to get used to the pacing and style of this unique test. In this short guide, I’ll show you where to find official SAT Math practice tests and questions, and go over what materials to avoid. Best SAT Math Practice Tests, Free and Official All of the following SAT Math tests are completely free. We've gathered together all of them in one place for your convenience. There are currently 10 official practice tests. You can download them here or take them online at Khan Academy (see next section for more details). Math Practice Test 1 Pages 34-56 Math Practice Test 2 Pages 32-53 Math Practice Test 3 Pages 32-55 Math Practice Test 4 Pages 30-54 Math Practice Test 5 Pages 38-65 Math Practice Test 6 Pages 42-67 Math Practice Test 7 Pages 34-59 Math Practice Test 8 Pages 36-61 Math Practice Test 9 Pages 458-482 Math Practice Test 10 Pages 332-353 You can find the scoring guides and answer explanations onthe official College Board website. The official SAT prep bookis not worth purchasing because it's all available for free online. The only reason you might want to buy it is that it includes eight of the practice tests listed above in print form so you don't have to print them out yourself (it's missing tests 2 and 4). Official Math SAT Prep at Khan Academy If you want a little extra prep (which you likely will since there aren't many official practice tests), there are a bunch of official Math practice questions available as part of Khan Academy’s free SAT prep.To access them, you’ll need to sign up for an account, but it's free and tracks your progress over time. On Khan Academy, the SAT lessons and practice questions are divided by type, so they're very helpful for more targeted studying.There’s a lot of math content, which can help you brush up on concepts you might have missed or forgotten. You can see a sample Math question below: Math Practice Questions on the Official SAT Website Finally, the College Board offersa short SAT Math practice sectionon its website. This feature includes30 calculator questionsand18 no-calculator questions. These are all different from those in the 10 practice tests above, so if you'd like more SAT Math practice, this is a great resource to use. The only drawback to these online SAT Math questions is thatthey're not given in a practice test format- rather, you'll be shown the correct answer after every question. Nevertheless, the quality of these questions is unbeatable. Additional SAT Math Materials In general, I recommend against any SAT Math practice tests that were not written by the College Boardas it won’t be realistic practice.You want to use real practice materials so that you can ensure you’re taking tests that reflect the actual content and difficulty of the SAT. If you take practices tests made by other companies, they might be more or less difficult and might not include all the content on the actual SAT Math section. That said,unofficial tests can still be great for practicing math skills- just not for practicing SAT-style questions. SATMath, more than any other section on the test, is based on knowledge, so having plenty of materials to practice the different math skills required is important (and poor or inaccurate formatting doesn't always matter as much). Check out our massive collection of SAT study material for a list of both official and unofficial SAT practice tests. If you still want more SAT Math study material- and don't mind spending a little cash- look at our guide to the best SAT Math prep books. Get your study on! How to Use SAT Math Practice Tests Effectively: 4 Tips Since you have a limited number of full-length SAT practice tests (with a total of 10 Math practice tests), each one is a precious commodity. You need to make sure you get the most out of each one. Here are my top four tips to best use your SAT Math practice tests: Tip 1:Take Full-Length Practice Tests Under Realistic Testing Conditions Take each full-length SAT practice test in one sitting with accurate timing and realistic testing conditions. That means sitting for about four hours (if you're including the Essay in your practice). Only allow yourself the prescribed time per section; the time allowed is listed at the beginning of each section. Use a watch to time yourself. You need to get used to the timing of the SAT and learn to pace yourself.Don’t give yourself any extra time on a section.If you do, you might be able to answer extra questions and therefore artificially inflate your score. Remember, you want these practice tests to be reliable indicators of your real SAT score, so no cheating! I recommend taking each official SAT practice test in one sitting (in other words, don't sit for the Math tests one day and then taking the Reading and Writing tests another day).The SAT is a marathon, and you won’t be fully prepared for it if you don’t take the practice tests in one go. If you don’t have time to take each of the official practices tests in one sitting (one sitting will be about four hours per test), then you can split the sections over multiple days, but make sure you take at least one full section each day (e.g., you complete the whole Math No Calculator section). NOTE:Realistic testing conditions means obeying all test rules. On the SAT Math section, be sure to only use your calculator on the calculator-permitted Math section (section 4)- and do not use your calculator on the No Calculator section (section 3). You need to get used to doing mental math! Don’t cheat in your practice or you won’t be prepared the day of the SAT. Use a watch, not a phone! Tip 2: Review Your Practice My second tip is toreview your practice tests!When you finish, score your practice test.Then, look at the in-depth answer explanations for every question you got wrong. Try to figure out where you went wrong.Do not skip this step! If you do, you're not going to learn from your errors, and you'll continue making them. Spend at least an hour reviewing your SAT practice tests (or at least 15 minutes per section). While it might seem like a lot of study time wasted, I promise it’s not. It’s the most valuable time spent because it’s the time where you’ll learn from your mistakes. If you don’t have a lot of study time, I recommend taking two SAT practice tests with detailed review, and then at least four SAT Math practice tests with no review. Tip 3: Practice Skills Between Tests Some students see the improvement they want by simply taking practice tests and familiarizing themselves with the pace and style of the SAT. However, most students need to review math concepts that they forgot, never learned, or never quite mastered. In-between practice tests, I highly recommend that youread our individual SAT Math content guides. These guides address the specific content areas (i.e., Coordinate Geometry, Trigonometry, Systems of Equations, etc.) that you need to master to do well on SAT Math. After taking your first practice test, see whether you can figure out why you got thosemath questions wrong.Did you skip a step? Did you misread the question? Or did you not know the content needed to solve a question? If you didn't know how to solve a question, then you need to review that content! Tip 4: Get Help If You Need It If you’re not improving with each practice test, look for extra help: consider supplementing the SAT practice tests with a tutor, class, book (such as the ones above) or program.While some people might be able to learn from their mistakes on practice tests through self-study, most need outside help to identify their weaknesses and to help them improve. Whatever prep you choose, know that a good prep program should be personalized to your specific needs,focusing on your area of weakness while not wasting your time covering topics you’ve already mastered. What’s Next? Interested in testing yourself with the hardest SAT Math questions out there? Check out our 13 toughest SAT Math question guide. Running out of time on the SAT Math section? Our guide will help you beat the clock and maximize your score. Aiming for a perfect SAT score? Check out our guide on how to get a perfect 800 on the SAT Math section, written by a real perfect scorer. Want to improve your SAT score by 160 points? Check out our best-in-class online SAT prep program. We guarantee your money back if you don't improve your SAT score by 160 points or more. Our program is entirely online, and it customizes what you study to your strengths and weaknesses. If you liked this Math strategy guide, you'll love our program.Along with more detailed lessons, you'll get thousands ofpractice problems organized by individual skills so you learn most effectively. We'll also give you a step-by-step program to follow so you'll never be confused about what to study next. Check out our 5-day free trial:

How to Bounce Back From a Lay-off

How to Bounce Back From a Lay-off Are you still reeling from an abrupt end to your last job? Is your box of office flotsam glaring at your from across the room? It’s a stressful time, and after you’ve taken some time for deep-breathing and appropriate wallowing, you’ll need to prepare for what’s coming next. Here are some concrete steps to help you get back on your feet, courtesy of  career consultant and certified life coach Phyllis Mufson. One of the most stressful elements of unexpected unemployment is financial status. Take an unflinching look at your finances–do you have enough between savings, severance and unemployment to maintain your current expenses for three months? Six? A year? Make a detailed budget and figure out what expenses you can cut right away.Depending upon your age and previous employment history, it may make sense to speak with a financial advisor, hire a recruiter, or seek out temporary employment agencies for an interim job.  Particularly for older job s eekers, choices about whether to opt-in to Social Security benefits or consider opportunities with larger chains that are offering part-time employment with benefits, should be carefully reviewed. Professional career coaches or advisors can help you assess your skills, identify unexpected opportunities, and craft a narrative that will help you stand out form the crowd.Remind yourself daily that, as Mufson puts it, your job search is likely to be a marathon, not a sprint. Find fellow job-seekers to be your â€Å"running buddies†Ã¢â‚¬â€œcheck in with one another daily or weekly. Perhaps you can assemble for periodic group visits with like-minded peers or even former colleagues who are in the same boat. And don’t forget to blow off steam. Especially as summer approaches, there are likely to be free or low-cost leisure activities in your town or city. Set yourself a schedule for job-hunting activities and be sure you leave frequent breaks in it to go for a walk, get some e xercise, see friends, and spend time on hobbies you had before the lay-off that probably threw you off your axis.Being laid off can feel like a judgment on your worth as a person or your merits as an employee, but as the last decade has shown, it can happen to practically anyone in any industry–and the people who bounce back are the ones who realistically assess their finances, their skill-sets, and their network of peers. So rest up, and dive in–there’s no time like the present!

Wholesale Medical Marijuana Distribution Essay Example | Topics and Well Written Essays - 250 words

Wholesale Medical Marijuana Distribution - Essay Example The farm produces the marijuana and sells it to retail stores in Denver and Colorado. The farm processes its product to improve its quality before selling it to producers. The company aims at the production of high quality marijuana that satisfies the target market demands. The targets of the business include the adult recreational marijuana users and the medical institutions that require marijuana (Hutchison, 2014). The company aims at satisfaction of customers and improved quality in the marijuana medical products. The mission statement of the business is the selling of high-quality marijuana to the market and foster customer satisfaction. This through customer valuation and enhancing accountability in the delivery of the product. The priority of the company are the customers, rather than the company. The marketing goals are to deliver the medical marijuana at all medical institutions in Colorado and Denver by the end of the year. The goal is also to provide customer satisfaction through the evaluation of the customer demands in different business settings (Beesley, 2013). Another goal is to ensure that the potential customer is informed about the business and its value in the medical field. The company is among the few that have been allowed to deliver marijuana on a wholesale scale in Colorado and Denver. The online market has been incorporated into the company to ensure easy access to the product. The medical market has also revolutionised and has a high demand of marijuana. Beesley, C. (2013). Sole Proprietorship – Is this Popular Business Structure Right for You? The U.S Small Business Administration. http://www.sba.gov/blogs/sole-proprietorship-popular-business-structure-right-you Hutchison, B. (17th January, 2014). Medical Marijuana Production in Canada set for Dramatic Change. National Post. Accessed 31st August 2014. http://news.nationalpost.com/2014/01/17/medical-marijuana-production-in-canada-set-for-dramatic-change/ Krizman, R. (2009).

Keeping Momentum Assignment Example | Topics and Well Written Essays - 500 words

Keeping Momentum - Assignment Example That is, people who feel their inputs, contributions and ideas are not needed as part of the implementation process are very likely to sit back and watch others do things. In effect, centering the change or implementation process round only few people is a major cause for the momentum to fizzle out. After all such a situation means that there will be only few people bringing their momentum together and so it will not be long when the apathy of others catches up with them. Sustained momentum for the implementation of any change process can be likened to sustained motivation among the people involved with the change process. This is to mean that even when enough people are included as stakeholders of change these people need additional motivation that can be sustained if the sustainability of momentum for the change process can be guaranteed (Shapiro, 2010). In any organization, the types of motivation needed by employees or stakeholders of change could be either intrinsic or extrinsic (Denton, 1996). When these types of motivation are absent, the expected levels of momentum cannot be guaranteed. It is important for the change or its implementation to be coiled around the collective culture of the organization. As the organizational culture defines the ideology, philosophies and ways of doing things, any change implemented with the culture can be assured to be permanent since the organizational culture is relatively permanent. It is therefore important that the implementation of change will not be done in a manner that is contrary or sidelines the organizational culture. The effect of including few people in the change implementation has already been outlined above. For a typical organization, it is important for managers to know that people are the pivot that make the change run. When the implementation is done in a manner that is included in

Human resources management Research Proposal Example | Topics and Well Written Essays - 3000 words

Human resources management - Research Proposal Example ..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Recommendations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 Introduction Multinational corporations utilize a number of HR practices in their management and operation processes as integral components of business administration. Human resource management is a broad field that encompasses a corporation’s personnel policy framework, HR planning, motivation and employee welfare schemes that constitutes the administration of an organization’s most crucial resources (Schuler and MacMillan, 1984, 241-55). In a nutshell, human resource management is the process through which the organization handles matters concerning personnel. Every organization has a duty to plan and organize its human resources in a manner that ensures that the organization attracts, retains, and motivates its human resources. The direct result of proper human resource management practice is the performance of organization; better HR practices lead to improved performance. However, human resource practices differ from organization to organization and are dependent on a number of factors that may include the scope, size, and type of the organization (Tichy et al, 1982, 47-61). As a result, in as much as the human resource management functions is a template for overall personnel and administration in business corporations there is no uniform approach that governs the vast field. Multinational corporations are business firms with branches in different countries and have operations in the expansive global market (Tiirbiorn, 1985, 52-74). These organizations have huge capacity and tend to involve numerous operations spread over the world. It is obvious that the HR practices of multinational corporations are much wider and complex than other organizations. It is also evident that human resource practices of different branches of a multinational corporation in diverse countries are dissimilar. Therefore, a multinational company that operates in two different countries has distinct HR practices and these practices have great influence on the running of the two companies (Tung, 1981, 215). This paper presents a proposed research on how the HR practices of a multinational company with operations in two countries (UK and Nigeria) differ as well as how these practices influences the operations of the company. Research Hypothesis The HR practices of an organization carrying out its operations in more than two countries are distinct in the sense that they are based on the different needs of the relevant countries of operation, and have a signif icant effect on the overall running of the companies (Lung, 1982, 57-71). Therefore, the human resourc

Anything related to Munich or Nuremberg Essay Example | Topics and Well Written Essays - 1500 words

Anything related to Munich or Nuremberg - Essay Example The city is alleged to be instituted by Benedictine, a monk, in 1158. The post administrative structure of Munich has been autonomous in leadership divisions, and consultative decisions must be made. Leaders are picked through anindependent legal system for a duration implemented by the constitution, normally four years. This was after war waged by the Americans and later revealed that supremacyis intended for the locals (Stolleis 2004). Nazis movements organised and controlled the better part of Munchin and Germany as a whole for the period of the first world war. (Kopleck 2006)explains thatthemovement formed was anextremist, who were racists and anti-communists. Its presencewas to forcepopulaces to be nationalists, rather than socialists. The associationprohibited democracy as it assumed it profited the jew. Munich through the denunciation of this association fought against it escalating to its territory.It wasbombarded with bombs and heavy loss was gathered (Kopleck 2006). However, it waslater restored andsalvaged its splendour after the close of the second world confrontation, and the resignation of Hitler. Munich is a traditionalist township, (Hendriks 1999)and has remainedgoverned byonly SDP Party since the second world hostilities, conceding just once to the opposition, CSU. The present-day mayor is Christian Ude from the SDP party, who has reigned since 2008 (Munich Sister City Association of Greater Cincinnati 2009). Munchen is celebrates historic events which has led to whittling the political structure of the contemporaryregime. The administrative and statutorysystem areadopted into command by a prevalent party which rarely loses its approval. The inhabitants are known to be very conformist and their optimal choice of leaders is determined by their choice of political party3. Its political thinking was grounded in Aristotle’s viewpoint, which stressed on morals and coherent thinking.They Maintained

Political Economy (Theories of Late Capitalism) Essay - 1

Political Economy (Theories of Late Capitalism) - Essay Example American economy, also, is no exception to it. For instance, after The World War-2, America emerged as economic giant because of rapid progress in different fields, but hardly a decade had passed that The US confronted Great Depression. It was asserted that stock market collapse was the major cause of the great depression and â€Å"as the consequence of this stock market collapse, an unparalleled depression overtook United States† (Majumdar et al 234). The way America made achievements during era of industrialization and during the World War-1; she could not withstand stock speculation and its ultimate consequences. Leading points for the United States’ rise to power. America with its progressive policies marked its existence as economic giant and witnessed economic boom once again after decade of Great Depression was over and particularly in the post World War 2 era. The leading points which led to the rise of American economy initially include many things. To begin with America gave suppleness in taxation. It made taxation as easy as possible. Secondly, it applied theories of monetary pull and occupied employment financial plan. Thirdly, it included in its economic policy to include quantitative targets for the economy. Fourthly, a growth model of economy was put into practice rather than earlier cyclical model which allowed just transaction of the same. Finally, substitute of the impression of being without a job as a structural predicament by a consciousness of a low down combined stipulate. Mechanisms that Immanuel Waller stein credits with weakening US power. The mechanisms which Immanuel Waller stein consider for the weakening og American superpower are also various. In this pretext, to begin with, geographic expansion of the European world-economy to include the whole of the globe shook US economy. In the second place, the expansion meant the elimination of other world-systems as well as the absorption of the

From book Matilda by Roald Dahl. Chose 1 quote from chapters 1-8 and Essay

From book Matilda by Roald Dahl. Chose 1 quote from chapters 1-8 and write a personal reflection on it - Essay Example Disappointed with the provincialism of her parents, Matlida finds an emotional escape by reading books. Her parents, however, fail to recognize that Matilda’s intellect was far above her years. They expressly oppose the idea of any books in the house, emphasizing that she should follow her brothers example of investing all the time in television. Through this fictional portrayal of parenting in the contemporary world, Roald Dahl directs the attention of the audience to this grave and largely unnoticed issue. Family, the basic unit of a society is fundamental in nurturing children in order to prepare them for future roles. Unfortunately, today’s modern families are failing to fulfil this obligation. This quote highlights how parents nowadays are engrossed in their own lives, with little interest and attention towards children. It reflects the adverse effects of technological developments in majority of households. Today, child abuse and neglect has become a serious menace to society. This can be solely attributed to change in parental preferences. In today’s age, modern inventions such as televisions, computers, and cell phones have become an imperative component of everyday life. By and large, people fail to establish healthy and beneficial use limits for these inventions. Not surprisingly, time completely drained in such useless pursuits has resulted in dramatic decline in the relative importance of relations of all sorts. Family structures collapse as modern inventions replace parents. Matilda’s parents pay no attention to her needs and only castigate her further for developing habits different from theirs such as reading books. Mr Wormwood constantly denounces her for wasting her time in books as evident from this quote. Similarly, Mrs. Wormwood also explains to her daughter how brainy girls dedicated to studying

Political Economy (Theories of Late Capitalism) Essay - 1

Political Economy (Theories of Late Capitalism) - Essay Example American economy, also, is no exception to it. For instance, after The World War-2, America emerged as economic giant because of rapid progress in different fields, but hardly a decade had passed that The US confronted Great Depression. It was asserted that stock market collapse was the major cause of the great depression and â€Å"as the consequence of this stock market collapse, an unparalleled depression overtook United States† (Majumdar et al 234). The way America made achievements during era of industrialization and during the World War-1; she could not withstand stock speculation and its ultimate consequences. Leading points for the United States’ rise to power. America with its progressive policies marked its existence as economic giant and witnessed economic boom once again after decade of Great Depression was over and particularly in the post World War 2 era. The leading points which led to the rise of American economy initially include many things. To begin with America gave suppleness in taxation. It made taxation as easy as possible. Secondly, it applied theories of monetary pull and occupied employment financial plan. Thirdly, it included in its economic policy to include quantitative targets for the economy. Fourthly, a growth model of economy was put into practice rather than earlier cyclical model which allowed just transaction of the same. Finally, substitute of the impression of being without a job as a structural predicament by a consciousness of a low down combined stipulate. Mechanisms that Immanuel Waller stein credits with weakening US power. The mechanisms which Immanuel Waller stein consider for the weakening og American superpower are also various. In this pretext, to begin with, geographic expansion of the European world-economy to include the whole of the globe shook US economy. In the second place, the expansion meant the elimination of other world-systems as well as the absorption of the

Barney's Entanglements with Various Aspects of Property Law Essay

Barney's Entanglements with Various Aspects of Property Law - Essay Example First his son Opie had used the property as collateral for a loan, and with a payment default the property was being pursued for foreclosure by the lending party. Next Barney finds out that Ernest had been squatting on that property for about two decades, and claimed ownership for that reason. First Barney’s ownership claim on the property is legitimate, under the principle of law called â€Å"joint tenancy with right of survivorship†. The case’s citing this principle is valid, and that Barney had legal right to the mountain property as alleged. The interesting aspect of this principle of law is that when a partner co-owner dies, the law’s operation automatically grants full rights of ownership to the remaining co-owner, with no regard to the power of a will to subvert that operation (Farlex, 2012; James T. Blazek & Associates, 2000). Opie was able to use the land, meanwhile, as collateral on the strength of his stake on this property, from a will by Barne y. There is some legal opening for Barney to explore this aspect of joint tenancy law in order to contest the legality of Opie’s use of the land as collateral for the failed loan. Meanwhile, Barney’s larger problem seems to be that Ernest had usurped the land, and may have legal ground to stake the claim to that land and retain ownership. As the case states, Ernest’s possession of the land is uninterrupted for two decades, is notorious, and for that long period of time uncontested. Under adverse possession law, where usual limitation statutes for contesting ownership is seven or twenty years, Ernest may have a case for claiming legal ownership of the land (Cornell University Law School, 2010). As a lawyer my advice would be for Barney to weigh how much the property means to him versus how much his relationship with Opie means. He can pursue a case contesting the legality of the use of the land as collateral, but there is the matter of Ernest having probable vali d claim to the land that complicates things. Barney here is stuck between a rock and a hard place. On the one end he is being pursued by the lender who wants to foreclose. On the other Ernest had laid claim to the land. There seems to be no easy way out of this. The mountain property maybe a lost cause (Cornell University Law School, 2010; Farlex, 2012; James T. Blazek & Associates, 2000). II. The Beach Property The town authorities cited eminent domain as the primary law principle that justified their appropriating Barney’s property for use to develop the beach front into the Nickelodeon facility that Barney thought so little off. Now eminent domain is a power of the state and of the governments, in this case of the county government, to do such appropriating of private property for particular purposes, but it is not clear in the case that the town itself was the acting developer, or whether the town was citing eminent domain in order to profit a private developer who may be the real owner of the resort. There is the element of eminent domain that the land appropriated must be for the use of the public. In this case, while the resort is supposed to be for the general public, it might be a privately owned enterprise, in which case the use of eminent domain may not be applicable, or valid. There is a case to be made for contesting the right of the town to take away Barney’s beach property, on the basis of the use of eminent domain as the primary excuse is an invalid interpretation of the eminent domain doctrine. In fact, the literature lists exactly

Introduction To A Social Experiment Social Work Essay

Introduction To A Social Experiment Social Work Essay This assignment follows the experiences of an immigrant Indian/Kashmiri family in their first couple of months in Australia. The family was a period of five weeks for a period of one to two hours per week in their family setting at home and once in the final week on a family picnic which they were gracious enough to invite me to. For discretionary purposes all personal information including names, addresses and any other identifiable markers have been changed in keeping with the primacy of the familys privacy. The family consists of five individuals, the father Mr. Fayaz Ahmad, his wife Rubina Geelani, their two children Ahmad, a boy of 10, Maryam a girl of 12 and their 5 year old nephew Abbas. The family from here on for purposes of brevity will be known as the Ahmads. The Ahmad family is from the northern most state in India, Kashmir. Mr. Fayaz used to work as an engineer in the state of Kashmir with the municipal department of the state as a civil engineer superintendent. Ms. Rubina has a bachelors degree in education but has never worked full time, Maryam and Ahmad were both studying in a well reputed private school and were both performing above average in academics as well as extra-curricular activities, Abbas is their nephew who was recently witness to the tragic death of his parents in a militancy related incident in their home state. Kashmir has had a long history of troubled political activity dating back to the partition of India and Pakistan during which time the Muslim majority state of Kashmir became a bone of contention between the two newborn nations. Since then there has been a slew of political and military activity that has served only to worsen the tangled situation between the two countries with two wars being fought over the state and an armed uprising against the Indian state fueled by Pakistan which resulted in massive state sponsored atrocities as well as transgressions on behalf of the armed rebels. Several other variables, including the growing influence of China, the rise of Afghan Islamist groups, political instability etc has also contributed to the increasingly complex situation in the state. The Ahmad family immigrated to Australia following the tragic death of his brothers family in a military encounter against suspected militants, young Abbas was the only survivor of the tragedy and was a dopted by Fayaz and his wife who decided to leave the trouble torn state behind in order to secure a better future for their children. I came into contact with them through a mutual friend who is a volunteer activist for militancy affected families in Kashmir and who also helped Fayaz through the formalities surrounding immigration. Week one: My first encounter with the Fayaz family was on a pleasant sunny Australian Sunday afternoon the very next day after they had moved in to their home. My reception in their home was very warm and enthusiastic with Mr. Fayaz greeting me very effusively and treating me with great hospitality and warmth. I was told by my friend that the house was a temporary accommodation and was not in that great shape, nevertheless everywhere I saw I could see the efforts of Ms. Rubina and Mr. Fayaz to tidy up the place. There were boxes and unpacked luggage everywhere but Mr. Fayaz managed a comfortable couch space in the main room for me to settle down in. The object of my research was somewhat puzzling to them as they seemed to follow me everywhere I went and it took some while for me to explain to them that this was merely an observation and not an interview, this was greeted with some skepticism and worry by Ms. Rubina who immediately wanted to know what I was looking for. The initial warmth gave way to some mistrust on behalf of Ms. Rubina who instructed the children not to play downstairs or in the open but to go to their room and play there. My initial thoughts were that the mistrust of my presence in their midst was related to their negative experiences with official government agencies that are notorious for their clandestine activities amongst the civilian population in Kashmir. The rest of the time passed by without any major incident and was spent mostly talking to Mr. Fayaz over consecutive cups of tea. Week 2: My second week started right after Mr. Fayaz found a part time job at a nearby retail institute as a sales executive; on my visit to the house he was not present as he was picking up a late shift that day. I used this opportunity to increase my rapport with Ms. Rubina and get to know her better, I felt that our previous encounter had not gone over the smoothest and after some initial reluctance she allowed me to observe the children playing in the yard. I had to assure her that I would not take any photographs of the children before she would allow me this. The children showed little effect of the trauma in their past, although Ahmad was showing signs of lethargy and malnutrition, upon asking Ms. Rubina about his health she replied that he was always a picky eater and had been getting progressively difficult to get him to eat properly in recent weeks. On closer inspection of the children I saw that both Maryam and Ahmad were trying to involve Abbas in traditional Kashmiri games, a version of hopscotch and tag that somehow always ended up with Abbas winning, it was obvious that both Maryam and Ahmad were letting Abbas win these games. Later on while observing them I noticed that they shied away from me and rather spent time with their mother in the kitchen rather than stay anywhere they knew I could see them. In normal cases I would have construed this as natural shyness on behalf of the children but after seeing them play I could not imagine them being very timid by instinct. Week 3: My third visit marked the first time that the children had started school in Australia, I was fortunate enough to observe them coming home directly from school. Maryam seemed very pleased and satisfied with her day at school, although she spoke only in Kashmiri around her mother I could gather from the tone that she was excited about the prospect of school, Ahmad on the other hand seemed subdued and quiet, on closer observation I noticed the signs of a scuffle on the child, with a pocket torn off his new shirt, he was taken away by his mother to his room, I presumed this was to comfort him as there were no sounds of scolding from his room. Maryam was pleased enough to try and interact with me and be comfortable around me, she offered to show me her new books and notebooks, one of which bore a note by her teacher praising her drawing skills and another one which had her homework written down in her small, neat handwriting. She spoke with me in accented by fluent English asking me abou t why I was always in the house with them. The conversation led to the topics of her brother and little cousin, she admitted that Abbas was much sadder nowadays than in the past and he frequently wet his bed at night and as a result had to sleep with the parents in the other room instead of with them. I resolved to talk to Mister and Missis Ahmad about getting Abbas to see a child therapist. Week 4: My fourth visit was a bit rocky as my previous suggestion of a child therapist for Abbas had not gone down well with Mister Fayaz. He felt that I was making unfair demands of him and that the child had been doing fine before I was there and even at one point tried blaming me for Abbass changed behavior. The majority of the time was spent trying to explain to him that it was just a suggestion and that he was in no way bound to do what I asked of him. Later on he admitted that the stress of managing finances for the household was starting to build on him and that he was worried about their future in Australia, on further questioning he informed me that his engineering degree was invalid in this country and he would be stuck with lower level jobs until he could complete another technical course here in Australia. Week five: I was surprised by my fifth and last visit when the family decided to take me along for a surprise picnic. Although not strictly their domestic settings I decided to go along with them to observe their interaction with the Australian picnic experience. The children seemed slightly apprehensive instead of the natural exuberance that most children would show when informed about going to the beach, apart from Ahmad both Abbas and Maryam seemed to stick close to Ms. Rubina and reserved themselves to helping her pack whereas Ahmad wanted to put on his rubber wings and flippers right in the house and go to beach thus dressed. While helping Mr. Fayaz get the car ready I came to know that Ahmad has been having trouble with bullies at school who make fun of his accent, that he has been dreading school and enjoys their outings with a relish, Abbas had started his sessions with a child therapist and was no longer wetting his bed and that Maryam had already enrolled in soccer class. I provided Mr. Fayaz with some brochures and booklets regarding part time courses and short term courses that he could take. Analysis: There were several issues and points that I observed while with the Ahmad family in regards to their reasons for coming to Australia, their interactions with the local culture and the nature of their family relations. Most importantly I came to realize about their unique needs and perspectives, their unique characteristics in regards to what they could bring in to the community, the culture they came from and the special needs that the three children of the family that needed to be addressed. My analysis can be elaborated as: For the greater part of this analysis the focus will be on young Abbas, then on Ahmad and on Maryam in decreasing order of significance in relation to special early care needs. The very first observations regarding Abbas were those of his interactions with the different societal settings that he had to experience. For instance his initial immigration to Australia was prompted by a drastic change in his original environment of Kashmir where he suffered the debilitating trauma of losing both his parents, in conversations with the Ahmads I got to know that Abbas was naturally a shy child and following the death of his parents he became even more withdrawn, to the point where he managed only a few sentences in conversation per day with the Ahmads and not even that with strangers. The initial experiences of the children with their societal systems were also apparent in how they treated me, a stranger in their house, the initial mistrust and fear that they projected on me was only a reflec tion of their past environment where authority figures or those who were in anyway related to official status were viewed with mistrust and even fear, this symptom extended not only to the children but to Ms.Rubina as well, when she forbade the children from interacting with me. The family structure in conservative societies like that of the Ahmad family is generally constituted of only close blood relations, the adoption of children as in the case of Abbas is almost unheard of, the most that a Kashmiri family will do is provide all the necessary support and accessories to a relative but that is all the other party will remain; a relative, in this case the traditional family structure has changed to that of a typical western nuclear family model and that has put an additional load on the two adults as Ms. Rubina and Mr. Fayaz do not have the traditional family support structure in place to help them manage their children any more. The cultural background of the Ahmad family is also an issue that has led to certain hindrances while integrating with their new environment, this was demonstrated with the trouble that Ahmad had with bullies at school and the frustration and worry that Mr. Fayaz felt at his educational qualifications not being considered eligible in the Australian work environment. The stress also showed on Ms. Rubina when she felt mistrustful of me, furthermore the bed wetting episodes of Abbas were symptomatic of elevated stress levels as Maryam informed me that he had never had this kind of problem before. There were of course the needs of the children to take into consideration especially those of Abbas and Ahmad. The specific list of activities and processes that I recommended for the children were: Child specialist therapy for Abbas to help address the trauma of his parents death and the sudden culture shock of shift from Kashmir to Australia. Extracurricular activities for Maryam in order to enable her to come out of her shyness and gain the confidence and self-esteem she needs in order to engage in social interactions effectively. Ahmad requires counseling as well in order to encourage better, more constructive outlets for his frustrations, bullying is always a significant issue to be dealt with in regards to early child care and Ahmads case is no exception but his situation is further compounded by the complexities of the previous experience in the stifling and rather constricted environment of Kashmir along with his experience in a private school in Kashmir as opposed to a public school in Australia In addition to the counseling steps for the children I also suggested certain short term technical courses for Mr. Fayaz so that he doesnt feel trapped in a lower level employment circle in Australia due to his degree not being recognized here.

molecular structure :: essays research papers

Molecular Structure Lab Objective: For this experiment we took two different molecule and virtually dissected them finding everything about them including: bond length, bond angles, the charge on each atom, the non bonded distances between atoms and the energy difference between the highest and lowest molecular orbital. Procedure: The procedure is to use HyperChem Lite to get the information needed from each molecule. But explained in full on page 16 and 17 in the lab manual. Data: The following data was found about CH4 (methane). †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The bond length from Carbon to all four Hydrogen atom was the same measurement that came to be about 1.113Ã… †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Not only are the lengths between all the Hydrogen atoms to the Carbon atoms the same so are the angles between the hydrogen atoms, all coming out to be about 109.47 °. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The non-bonded distances between all the parts of the molecule are 1.818Ã…. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The charge on the Carbon atom is -.143 †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  All of the hydrogen atoms have the same charge being .036 The following data was collected by HyperChem Lite for C2H5OH (ethanol). †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  All the distances between bonded Carbon and Hydrogen atoms were 1.115Ã…. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The distance of the bonded oxygen (3) to hydrogen (9) was .942Ã…. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The distance between bonded Carbon (1) to Oxygen (3) was 1.40Ã…. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Bond angle 5,1,4 was 109.8 ° †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Bond angle 3,1,2 was 108.9 ° †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Bond angle 6,2,8 was 107.9 ° †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The smallest non-bonded distance was between atoms 9 (hydrogen) and 6 (hydrogen) it was 4.067Ã…. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The largest distance between two atoms was from 6 to 8 1.802Ã…. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The charge on the Carbon atoms were: Carbon 1=.466, and Carbon 2=-.076 †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Hydrogen charges were as follows: Hydrogen’s 4,5=-.004, 6=.021, 7,8=.020, and the charge of hydrogen 9=.447 †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  And lastly the charge on the oxygen atom was -.891 Calculations: Formulas used in the lab†¦ E = hv = hc/ 1 ev = 1.6022E-19 Joules E is the energy difference between the highest occupied and lowest unoccupied molecular orbital (HOMO and LUMO). h = Plank’s constant = 6.63E-34 Js c = speed of light = 3.00E8 m/s formal charge = number of valence electrons – (# of unshared electrons + # of bonds) Volume of an ellipsoid is V = /6 (a + 1Ã…)(b+1Ã…)(c+1Ã…) = xÃ…3 A,b,and c are the skeletal lengths of the molecule. CH4 E = (-15.51ev)-(-24.49ev) = 8.98ev = 1.44E-18 J  = hc/E = (6.63E-34 Js)(3.00E8 m/s)/(1.44E-18 J) = 1.38E-7 m = 138nm The wavelength of CH4 is 138nm and this resides in the ultra-violet spectrum and is not visible to the naked eye. Formal charge of Carbon = 4-(0+4) = 0 Formal Charge of Hydrogen’s = 1-(0+1) = 0

Benevolent Assimilation: The American Conquest of the Philippines, 1899

Benevolent Assimilation: The American Conquest of the Philippines, 1899-1903 Miller provides an account of the American-Philippines war from 1899-1903, revealing aspects of United States imperialism that are often forgotten. Miller provides both a military history as well as a demonstration of the way America lied and forgot its history, justifying war and colonization as a step for greater good. America's involvement in the Philippines is sometimes remembered as an act to protect Filipino's from Spain, and to "teach' them American democracy. Other historians look to the war as a part of American imperialism linked to its capitalist and racist nature. Many other historians argue that imperialism was a short lived mistake in American history that was just one stumble in the country's greatness. Miller's account shows, in great detail, the slipperiness of events which happened, and the ways in which individuals can hold the power of nations. Generally America's conquest of the Philippines is understood to be motivated by the expansion of democracy. The Unit ed States was already actively expanding and conquering land and people, but for the most part they were doing so in regions thought to be geographically logical. Expanding to the west was not considered colonization, but once the U.S. reached the far away islands of the Philippines, their actions seemed to need a larger explanation to be justified. The United States moving beyond its natural proximity made the Philippines a more problematic site, and therefore easier to understand as an act of imperialism. Miller argues that when the United States was just beginning to get involved in the Philippines few people new anything about the islands. There were no intention... ...d Beveridge, the anti-imperialists were letting the people off the hook and in their own way preserving the American sense of innocence†¦If anything, they seemed to take their cues from their leader in the White House by first putting out of mind all the sordid episodes in the conquest, and then forgetting the entire war itself (253). The United States conquest of the Philippines and the ways it is remembered is one aspect of this countries history of imperialism. This war stems out of energy left from the Civil War, the United States competition with Spain, and later feeds into the Vietnam War. This story is all too reflective of the current situation in Iraq and the war on terrorism. According to Miller, the United States hides its imperialism behind the name of democracy and civilization, claiming to act for the better of people "unable" to govern themselves.

Pre Activity Health Screening and Customer Care

Explain the reason why pre-activity health screening is necessary Pre activity health screening is used to highlight health problems that may be aggravated by physical exercise. A fitness instructor can then assess and prescribe the correct fitness plan for the individual. Screening takes place in the form of a questionnaire and physiological measurements. Some health risks looked for by taking part in pre activity health screening are shown by Woolf, May (2006), categorised by risk factor.The first category is known as ‘primary risk factor’s’ which include high cholesterol and high blood pressure. These problems are related to some of highest risks to health such as heart attack when completing exercise . The ‘Secondary risk factor’s’ that may be aggravated by exercise include obesity that is indicated by a body mass index of over thirty kg/m2 and physical inactivity indicated by a failure to reach the minimum fitness standard required. The la st category is ‘non modifiable risks’ that is made up of factors that can not be helped such as age and a family history of heart disease.Someone over the age of fifty is also considered to be a factor in this category. When an individual has completed a health screening questionnaire they may then be asked to take part in further tests in the form of physiological measurements. A persons body mass index may be taken by dividing their weight by height. This can tell a fitness instructor whether the individual is over weight which would need consideration when an exercise plan was produced.An individuals blood pressure may also be taken as a high reading is considered a high risk factor contributing to coronary heart disease. Another test that may be carried out would be the weight to hip ratio which measures distribution of fat around the body. If the person has more weight around the abdomen it is known as ‘apple shaped’ and is related to a higher risk of cardiovascular disease and diabetes. Completing pre activity health screening is becoming increasingly important for the fitness industry as the need for their services becomes more opular. The evidence shown suggests that health screening has the potential to save lives through diagnosing health problems that may be aggravated by certain physical activity, however a different kind of activity may be appropriate. Although health screening questionnaires are good for highlighting health risks the physiological measurements taken after are vital to further help both the instructor and the individual to diagnose health problems. (405) Q2) Discuss and analyse Reshma’s results.Your analysis should identify whether or not the results fall into healthy ranges, and discuss the implications of this with a particular focus on the risk of developing cardiovascular disease. Reshma’s PAR questionnaire showed that she answered ‘no’ all the questions, however she admitte d to smoking ten cigarettes a day which is putting her at risk of serious health problems and is classed as a ‘primary health risk’ leading to coronary heart disease (Woolf May 2006). A number of physiological measurements were then taken. Reshma had a blood pressure which read 140 over 100 millimetres of mercury.Andy Russel explains that the first reading is systolic pressure which is a contracting heart and diastolic pressure is the heart relaxed. The average reading should be between 100 to 140 over 60 to 90 (mmhg) (The Open University 2008). A reading over 130 and 85 provides more risk of coronary heart disease in middle aged people . (Vasan et al 2001). Reshma then had her resting heart rate measured at 90 beats per minute. According to Netfit (2009), the average heart beat of a women of 48 years old should be between 74 and 77 and anything over 84 BPM is thought to be poor.Stress is one cause of a rapid heart beat and regular exercise would lower heart rate consid erably. Reshma has a body mass index of 30. 5 which is calculated by dividing weight and height. Marie Toms explains that healthy people have readings between 19 and 24 and that anything over 30 is classed as obese (The Open University 2008). Reshma is putting herself at a higher risk of coronary heart disease and other risks such as cancer. Regular exercise would help Reshma lower her BMI and make her a lot healthier. Reshma’s waist to hip ratio was a reading of 1. 0.As Sharky and Gaskill (2007) suggest, the safe limit for women is between . 75 and . 8 which shows Reshma is in further danger of health problems which could be reduced by regular exercise. Reshma’s body fat percentage is shown at 33%. This reading is taken in 4 measurements with a calliper from the arm and back. According to Family education (2010), the average body fat percentage for a women of between 20 to 50 years old should be between 17 to 27 %. Reshma is clearly over the safe limits of body fat an d combined with her other measurements is putting herself at serious risk.The evidence shows that Reshma is at higher risk of cardiovascular disease due to her results. Physical activity can reduce these risks and with regular exercise participation, Reshma would be considerably healthier. If Reshma stopped smoking she would decrease her chance of health problems even more. (402) Q3) Outline how physical activity could have a positive effect on Reshma’s health. If Reshma began a fitness plan she would see dramatic improvements to not only her physical health but her mental health too.Improvements to the efficiency of the vascular system and metabolic changes would increase better health both physical and mental health by reducing stress. Sharky and Gaskill (2007), describes the Vascular system as having many tasks in the body which include carrying blood with oxygen, hormones and food to the cells of the body. The system can be made more efficient when a person takes part in physical activity by reducing blood clotting in narrow coronary arteries. This is achieved by the arteries being made larger and educing the risk of blockage due to plaque in the heart therefore reducing the risk of heart disease. A notable change of the system for Reshma would be that of blood pressure being reduced when regular exercise is carried out. Another benefit of physical activity on the system would be that blood volume increases by 10 to 15 percent and in doing this will lower Reshma’s heart rate over time. The metabolic changes to the body when participating in physical activity contribute to many factors in helping Reshma become healthier.Blood lipids including high cholesterol and triglycerides can be a factor of coronary heart disease. Important metabolic changes would be seen with an increase in fat metabolism because exercise burns fat and increases muscle which further helps to reduce fat. The metabolic changes are significant to Reshma as the metabolism of fat would help to lower her body mass index and would further contribute to a lower waist to hip ratio and body fat percentage. Physical activity not only helps physical health but can also improve mental health.Reshma has high blood pressure due to a busy lifestyle. Hendrix and Hughes(1997) states that regular exercise contributes to good health by lowering diastolic blood pressure and reducing stress. Exercise is also thought to be the best form of stress management because it not only reduces the risk of physiological problems but can also reduce anxiety and depression through its relaxing abilities. These factors would lower Reshma’s blood pressure to an acceptable level. When it comes to Reshma taking part in physical activity the benefits to health are endless.A more efficient vascular system and metabolic changes improve physiological factors in the body and improved mental health reduces the stress leading to a lower blood pressure and a better overall lifestyle. (39 9) Task 2 Q 1) What legislation governs health and safety in a sport and fitness facility, and how might these relate to this accident. The main legislation in the sport and fitness sector is the ‘Health and Safety Act Ect 1974’ . This act is known as a Statute Law which means it is provided by parliament and contains a number of acts that relate to all health and safety topics in an industry.The Child Protection at Work in Sport Unit may also be interested in Luke and Fiona’s case. As Heany and Goody (2008) suggest, the Health and Safety Executive governs a lot of the health and safety aspects in the sport and fitness sector through ‘The Health and Safety Act ect 1974’. The act protects the health and safety of people at work but it also provides health and safety for visitors to a facility. An important Factor in the case of Luke and Fiona could be ‘The Management of Health and Safety at Work Regulations 1999’ which states that an empl oyer should carry out a risk assessment including risks to people not in his employment.A court may then ask if an appropriate risk assessment was carried out in preventing such injury happening to Fiona. The Child Protection at Work in Sport Unit, which is part of the ‘National Society for the prevention of cruelty to children’ may show concern because they may ask why Luke took Fiona into the gym in the first place As the sport and fitness sector grows in stature, the ‘Health and Safety Executive’ becomes more important in the guidance it gives in the of running the industry. (252) Task 2 Q2) Discuss whether or not Luke or his 14 year old Fiona would have a case for negligence against the facility.Explain the reason for your answer. Before a verdict of negligence is awarded a court will use the ‘law of tort’ which takes into account many factors. Jane Goody (2008) describes the law of ‘Tort’ as being a French word for a wrong and that the law makes a defendant protect someone from harm and owe a person a duty of care. The court must prove this by showing the defendant owed the person a duty of care, that the duty of care was broken and that the person received injury due to a breach to the duty of care. Negligence is further explored by using other laws such as ‘Occupiers liability’ and the ‘Reasonableness test‘.These are of much importance in the case of Luke and Fiona When it comes to Luke and Fiona the receptionist does not owe a duty of care because although she let Fiona into the premises, she did not let her into the gym. However the Fitness Instructor did owe Fiona a duty of care because he did not ask for any form of identification. In doing this he broke that duty of care and it could be said, he then breached that duty of care when she was injured. Occupiers liability is the law that gives the occupier of a property or land, the responsibility to make sure such land or pro perty is safe for people to enter.The notable law in the case of Luke and Fiona is that of Occupiers law of 1984 which states that land should be safe even for trespassers. (Jane Goody 2008). Fiona was classed as a trespasser as she entered the gym without permission but the owner still had to make it safe for her as a trespasser. However, the law then becomes more important in the case of Luke and Fiona because even though the defendant has a duty of care to make a facility safe for all, the law changes if the claimant is a child who should have been under the care of an adult.The court may then say that Luke was being negligent for taking Fiona into the gym and it was his responsibility to look after her especially as she should not have been there in the first place. The reasonableness test takes into account whether a defendant acted in a reasonable way in the circumstance and also takes into account any different behavior by the defendant or the claimant, the size of the risk a nd whether injury could have been prevented. Special qualifications held by the defendant are also taken into account (Jane Goody 2008)In the case of Luke and Fiona it could be said that the gym instructor was being unreasonable in not asking Fiona for any identification. In other aspects the instructor could have acted in a reasonable way because Fiona fell over and no equipment was involved however the situation would change if Fiona slipped on a wet floor or fell over equipment because it should have been checked and deemed safe by the instructor. The evidence shows that a case of negligence could be successful in many factors but the law of occupiers liability may lead to an unsuccessful claim .The gym instructor broke his duty of care to Fiona by not asking for identification . Occupiers liability shows that although Fiona was trespassing she had a right to safety, however an award may be reduced or lost because Luke was being negligent in taking Fiona to the gym. 566) .Bibliog raphy 1 & 2) Woolf, May (2006), study topic 3: Minimising the health risks of physical activity in E112 Introduction to Sport, Fitness and Management study guide, Milton Keynes, The Open University. 3) The Open University (2008) E112 Introduction to Sport, Fitness and Management DVD, Milton Keynes, The Open University. ) Vasan et al (2001) ‘Hypertension and Stroke’ in Fitness and Health (6th edn) Sharky and Gaskill (2007), Leeds, Human Kinetics. 5) Netfit (2009) ‘Resting Heart Rate’ (online). Available from: Http://netfit. co. uk/fitness/test/resting-heart-rate. htm (accessed 17th January 2010). 6) The Open University (2008) E112 Introduction to Sport, Fitness and Management DVD, Milton Keynes, The Open University. 7) Sharky, B. J. and Gaskill, S. E. (2007) Fitness and Health (6th edn), Leeds, Human Kinetics. 8) Family Education (2009) ‘Fat Percentage Chart’ (online), Available from: Http://life. familyeducation. com/weight/body-image/46748. tm l (Accessed 17th January 2010). 9) Sharky, B. J. and Gaskill, S. E. (2007) Fitness and Health (6th edn), Leeds, Human Kinetics. 10) Hendrix and Hughes (1997) ‘Activity Minimises Stress’ in Sharky and Gaskill (2007) Fitness and Health (6th edn), Leeds, Human Kinetics. 11) Heany and Goody (2008) ‘Physical Activity and Health and Safety’ in E112 Introduction to Sport, Fitness and Management Study Guide, Milton Keynes, The Open University. 12) Goody,M. (2008) Negligence: ‘Legal Frameworks of Health and Safety’ in Oakley, B. and Rhys, M. (eds) The Sport and Fitness Sector: An Introduction, London, Routledge/Milton Keynes, The Open University.

Gas Turbine

Types of ventilation – Induced draft ventilation – Turbine ,Acc module – Positive ventilation- LGB, Exhaust Ventilation System Design features †¢ Induced Draft Ventilation †¢ Number of compartments †¢ Accessory compartment †¢ Turbine compartment †¢ Aft compartment †¢ Generator Enclosure †¢ 2 X 100 % Roof mounted centrifugal fans †¢ Auto change over †¢ Fan outlet gravity dampers, CO2 dampers and silencers provided †¢ Enclosure Air inlet hoods with filter panels †¢ Slow cool down fan provided for Turbine compartmentFan sizing Accessory compartment Heat load criteria: †¢ Q = Heat Rejection = 104000 (BTU/Hr) = 436. 8 ( Kcal/min) †¢ Design compartment temp – 600 C at ambient of 430 C †¢ Fan provided : 2 x 10,000 CFM at 3. 5 inch WC static pressure †¢ The calculated temp raise with selected air flow 7. 80 C †¢ Static Pressure selected considering drop across suction filter, inlet, ex it, silencer and ducting Number of air changes criteria: †¢ Volume Of the Acc Comp = 278 m3 †¢ Number of Air change/Hr = 60 (Meets NFPA and DEP 31. 29. 70. 31 requirements)Fan sizing Turbine compartment Heat load criteria: †¢ Q = Heat Rejection = 1273469 (BTU/Hr) = 5348 ( Kcal/min) †¢ Design compartment temp – 1200 C at ambient of 430 C †¢ Fan provided : 2 x 26,000 CFM at 3. 5 inch WC static pressure †¢ The calculated temp raise with selected air flow 300 C †¢ Static Pressure selected considering drop across suction filter, inlet, exit, silencer and ducting Number of air changes criteria: †¢ Volume Of the Acc Comp = 215 m3 †¢ Number of Air change/Hr = 185 (Meets NFPA and DEP 31. 29. 70. 31 requirements)Vent Fan Drawing Typical Accessory Compartment Fan Curve †¢ Fan BHP : 5. 53 kw †¢ Motor selected- 8 kw †¢ Motor Data: †¢ 4pole – 415V,3Ph TEFC †¢ Motor ambient Temp. 650 C †¢ Insulation class â₠¬â€œ H ( Temp raise limited to class B) †¢ Flame proof NEC Class 1 Div 2 Gr C&D Turbine Compartment Fan Curve †¢ Fan BHP : 15. 45 kw †¢ Motor selected- 19 kw †¢ Motor Data: †¢ 4pole – 415V,3Ph TEFC †¢ Motor ambient Temp. 650 C †¢ Insulation class – H ( Temp raise limited to class B) †¢ Flame proof NEC Class 1 Div 2 Gr C&D Exhaust Frame Blower (Fr6) †¢ †¢ †¢ †¢ †¢ Two motor driven centrifugal Blowers Inlet screen & silencer Air to turbine shell, exhaust frame via strut passages (Annular space) Flow:2470 CFM with two fans in operation Emergency:1860 CFM with one fan in operation Motor rating :50HP GT Auxiliaries GT Auxiliaries EXHAUST FRAME BLOWERS EXHAUST FRAME BLOWER GT Auxiliaries MIST ELIMINATOR Removes oil mist entrained in the LO vapor – Flow rate 😕 SCFM – Demister pads(8No’s)-SS316 wire mesh – Coalescing filter element(99. 97% for droplets and particles 0. micron a nd larger) – Outlet oil content not more than 5ppm by weight – Centrifugal blowers (2 No’s) and motors(11kw each) OUT LET FILTER CASING INLET BLOWER & MOTOR GT Auxiliaries GT Auxiliaries MIST ELIMINATOR – High speed rotating machinery: High temperature and shearing action in bearings generates a large volume of very fine oil mist (droplets) plus a considerable amount of vapor – Oil mist and oil vapor is vented from the lube oil tank, it causes a visible plume – Stringent environmental laws and regulations at all government levels – Coalescers combine small aerosols through the filter media to form large droplets.

Different Between Adaptive and Rational Expectation

Working Paper No. 00-01-01 Are Policy Rules Better than the Discretionary System in Taiwan? James P. Cover C. James Hueng and Ruey Yau Are Policy Rules Better than the Discretionary System in Taiwan? James Peery Cover Department of Economics, Finance, and Legal Studies University of Alabama Phone: 205-348-8977 Fax: 205-348-0590 Email: [email  protected] ua. edu C. James Hueng Department of Economics, Finance, and Legal Studies University of Alabama Phone: 205-348-8971 Fax: 205-348-0590 Email: [email  protected] ua. edu and Ruey Yau Department of Economics Fu-Jen Catholic University Taiwan Phone: 619-534-8904 Fax: 619-534-7040 Email: [email  protected] csd. edu Correspondence to: C. James Hueng Department of Economics, Finance, and Legal Studies University of Alabama, Box 870224 Tuscaloosa, AL 35487 Phone: 205-348-8971 Fax: 205-348-0590 Email: [email  protected] ua. edu Are Policy Rules Better than the Discretionary System in Taiwan? ABSTRACT This paper investigates whether th e central bank of Taiwan would have had a more successful monetary policy during the period 1971:1 to 1997:4 if it had followed an optimal rule rather than the discretionary policies that were actually employed.The paper examines the use of two different instruments—the discount rate and the monetary base—with several different targets — growth of nominal output, inflation, the exchange rate, and the money growth. The results show that most of the rules considered would not have significantly improved the performance of the Taiwanese economy. The only rule that is clearly advantageous is one that targets inflation while using the interest rate instrument. Keywords: monetary policy rule, small open economy, dynamic programming JEL classification: E52, F41 1.Introduction How well has the Central Bank of Taiwan implemented monetary policy during the past three decades? With the exception of two inflationary episodes during periods of oil-price shocks (1973-1974 and 1979-1981), as far as inflation is concerned, the historical record suggests that monetary policy in Taiwan has been very successful. Figure 1 shows that during other periods the rate of inflation in Taiwan typically has been relatively low, nearly always being between 2% and 7% per year. But could the Central Bank of Taiwan have performed much better than it actually did?That is, could it have achieved a lower and less variable rate of inflation at little or no cost in terms of lost output? Because Taiwanese monetary policy has been discretionary, rather than based on a formal rule, there is a strand of macroeconomic theory that suggests the answer to this question must be yes. If the structure of the Taiwanese economy is such that an unexpected increase in the rate of inflation causes output to increase, then policy makers have an incentive to increase inflation. This implies that a discretionary monetary policy will have an inflationary bias [Kydland and Prescott (1977) and Barr o (1986)].The existence of this inflationary bias makes it difficult for policy makers to lower expected inflation without first earning a reputation for price stability. If the only way to earn this reputation is through actually achieving low inflation, then the cost of reducing inflation is a significant loss of output. A solution to this reputation or credibility problem is for the monetary authority to follow an explicit formal rule that eliminates its discretion to inflate. It therefore follows that a monetary policy implemented according to a rule will achieve lower inflation than a discretionary monetary policy.For example, Judd and Motley (1991, 1992, 1993) and McCallum (1988) have examined the empirical properties of nominal feedback rules and find that the use of simple feedback rules could have produced price stability for the United States over the past several decades without significantly increasing the volatility of real output. 1 This paper examines whether the cent ral bank of Taiwan would have had a more successful monetary policy if it had followed an explicit rule rather than the discretionary policies it actually implemented.Of the rules considered here, only one yields both an output variance and an inflation variance appreciably lower than those actually realized by the Taiwanese economy. Hence this paper concludes that the discretionary policies implemented by the central bank of Taiwan were very close to being optimal. Svensson (1998) divides proposed rules for monetary policy into two broad groups, instrument rules and targeting rules. Instrument rules require that the central bank adjust its policy instrument in response to deviations between the actual and desired value of one or more variables being targeted by the monetary authority.Examples of this type of rule are those proposed by both Taylor (1993) and McCallum (1988). A rule that requires the Fed to raise the federal funds rate (its instrument of monetary policy) whenever the growth rate of nominal GDP is unexpectedly high (the rate of growth of nominal GDP being the target variable) regardless of other information available to the Fed is an example of an instrument rule. But because instrument rules do not use all information available to the monetary authority, as shown by both Friedman (1975) and Svensson (1998), they are inferior to monetary policy rules that do use all available information.If a monetary policy rule minimizes a specified loss function while allowing the monetary authority to use all available information, then Svensson (1998) calls it a targeting rule. If the monetary authority is following a targeting rule, then it will respond to all information in a manner that minimizes its loss function. The loss function formalizes how important the monetary authority believes are deviations of its various target variables from their optimal values. The policy rule is derived from the optimal solution of the dynamic programming problem that m inimizes the loss function subject to the structure of the economy.The resulting rule expresses the growth of the policy instrument as a function of the predetermined variables in the model. That is, the policy instrument responds not only to the target variables but also to all other variables in the model. Hence a targeting rule would not 2 always require the Fed to raise the federal funds rate when the growth rate of nominal GDP is unexpectedly high because other information might imply that the relatively high rate of growth of nominal GDP is the result of an increase in the growth rate of real GDP (rather than an increase in inflation).Although there appears to be a growing consensus that price stability should be the central long-run objective of monetary policy, there are still continuing debates about the proper selection of the policy instrument and the best target variables. But clearly the choice of the best policy instrument and the best target(s) is an empirical issue. Furthermore, the best choices can vary from country to country because the controllability of any particular policy instrument and the effectiveness of each target most likely vary across countries.Therefore, this paper examines two different policy instruments and several targets to search for the best policy rule for Taiwan. The rest of this paper is organized as follows. Section 2 discusses the instrument and the targets of monetary policy that this paper considers. Section 3 describes the method used to derive the policy rules and conduct the simulations. Section 4 describes the data and presents the simulation results, while Section 5 offers some conclusions. 2. Instruments and Targets of Monetary Policies In discussing how monetary policy should be implemented it is helpful to draw a istinction between the instruments and the targets of monetary policy. The targets of monetary policy are those macroeconomic variables that the monetary authority ultimately desires to influence through its policy actions [Friedman, 1975]. For this reason Svensson (1998) prefers to call target variables only those variables that are important enough to be included in the monetary authority's loss function. The targets of monetary policy therefore are a way to formalize the overall objectives of a monetary authority.On the other hand, the instrument of monetary policy is the variable that the monetary authority chooses to control for the purpose of meeting its overall objectives, i. e. minimizing its loss function. 3 Monetary policy instruments basically fall into two categories: the monetary base and short-term interest rates. Proponents of using the monetary base as the instrument of monetary policy argue that the base is the variable that determines the aggregate level of prices, and therefore is a natural instrument for the control of inflation [McCallum (1988)].But most central banks, including the central bank of Taiwan, use a short-term interest rate as their instrume nt of monetary policy. Proponents of an interest rate instrument point out that it insulates the economy against instability in the demand for money, that interest rates are a part of the transmission channel of monetary policy, and that no useful purpose is served by wide fluctuations in interest rates [Kohn (1994)]. This paper presents simulation results using both types of instruments. The results support the central bank of Taiwan's decision to use an interest rate instrument.This paper examines four target variables: a monetary aggregate, the exchange rate, nominal income and the rate of inflation. 1 The targeting of a monetary aggregate often is advocated by those who believe that business cycles largely result from changes in the growth rate of a monetary aggregate [Warburton (1966), M. Friedman (1960)]. Another reason for choosing a monetary aggregate as the target variable for monetary policy is its ability to serve as a nominal anchor that can prevent policies from allowin g inflation to increase to an unacceptable level.Although this allows a monetary aggregate to communicate long-run policy objectives to the general public, as Friedman (1975) points out, it is by its very nature an inferior choice as a target variable because the monetary authority is only concerned with monetary aggregates to the extent that it provides them with information about inflation and output growth. 2 1 Recent For a more complete discussion about different target variables, see Mishkin (1999). That is, monetary aggregates are intermediate targets rather than true targets of monetary policy. Friedman (1975) shows that the use of intermediate targets is not optimal. Although Svensson's (1998) idea of using forecasts of the target variable as a synthetic intermediate target is implicit in Friedman's (1975) discussion. 4 instability in the velocity of money for the time being has ended any possibility that a monetary aggregate will be used as a target for monetary policy in t he United States. McKinnon (1984) and Williamson and Miller (1987) argue that monetary policy should target the exchange rate in an open economy.For example, the exchange rate has been the sole or main target in most of the EMS countries. Pegging the domestic currency to a strong currency prevents changes in the exchange rate from having an effect on the domestic price level. But exchange rate targeting results in the loss of an independent monetary policy. The targeting country cannot respond to domestic shocks that are independent of those hitting the anchor country because exchange rate targeting requires that its interest rate be closely linked to that in the anchor country.McCallum (1988) suggests a nominal GDP targeting rule because of its close relationship with the price level. The nominal GDP target has intrinsic appeal when instability in velocity makes a monetary target unreliable. As long as the growth rate of real GDP is predictable, there is a predictable relationship between nominal GDP and the price level. However, recent studies on the time series properties of real GDP raise questions about the predictability of real GDP.If real GDP does not grow at a constant rate, then a constant growth rate for nominal GDP does not guarantee a stable price level. Recently there has been a great upsurge of interest in direct inflation targeting, a policy that has been adopted by the central banks of New Zealand, Canada, the United Kingdom, Sweden, Finland, Australia, and Spain. Although this policy has been implemented with apparent success in the above countries, there are theoretical concerns with inflation targeting.One problem with inflation targeting is that the effect of monetary policy actions on the price level occurs with considerably more delay than its effects on financial variables. The use of a financial variable such as monetary aggregates or exchange rates as the target would provide an earlier signal to the public that policy has deviated fr om its goals. In addition, attempts by the central 5 banks to achieve a predetermined path for prices may cause large movements in real GDP, but only if the price level is sticky in the short run.But the apparent success of inflation targeting, where it has been tried, suggests that these concerns are misplaced. 3 Also, because the effect of monetary policy on long-term trends in output and employment is now considered to be negligible, many economists are now advocating that monetary authorities should use only inflation (or the price level) as the sole target for monetary policy. According to this view the main contribution that monetary policy can make to the trend in real output is to create an environment where markets are not distorted by high and volatile inflation.The central bank of Taiwan appears to have accepted this position. It has repeatedly stated that its number one priority is price stability and the reaction function estimated by Shen and Hakes (1995) confirms that it has behaved as if price stability is an important policy goal. So what combination of policy instrument and target variable would result in the best rule for monetary policy in Taiwan? Would the adoption of such a rule have improved Taiwanese monetary policy during the past three decades?To answer these questions this paper experiments over two policy instruments (monetary base and interest rate) and four target variables (the rate of inflation, the growth rate of nominal GDP, the growth rate of the monetary base, and the change in exchange rate) in an attempt to find what would have been the best targeting rule for Taiwan during the period 1971:1-1997:4. The historical performance of the Taiwanese economy is then compared with the performance predicted by the â€Å"best† targeting rule to evaluate how good Taiwanese monetary policy has been.This comparison is made by comparing the volatility of the relevant variables resulting from the proposed rules with those from the historical data. 3 A careful reading of Friedman (1975) and Svensson (1998) also suggests that these concerns are misplaced. 6 Although, as noted above, by their very nature targeting rules are superior to instrument rules. Hence this paper emphasizes targeting rules. But just how much better targeting rules are than instrument rules is an empirical question of some practical importance because instrument rules are more transparent than targeting rules.Hence, for completeness, this paper also presents results for instrument rules using the rate of interest and the monetary base as instruments and the rate of inflation as the target variable. 3. The Model and Methodology 3. 1 The instrument rule An instrument rule adjusts the growth of the policy instrument in response to deviations between the actual and desired value of the target variable. That is, ? It = (? xt-1 – ? xt-1*), (1) where It represents the policy instrument, ? xt is the target variable, the superscript * denot es the target value desired by the central bank, and ? efines the proportion of a target miss to which the central bank chooses to respond. In this paper, variables are expressed as deviations from their own means. Therefore, there is no cost in terms of generality to set the targeted growth rate desired by the central bank to zero. The economy is characterized by an open-economy VARX model which includes five variables: the growth rate4 of real income (? yt), the rate of inflation (? pt), the change in the logarithm of the exchange rate (? et), the growth rate of the monetary base (? mt), and the change in the interest rate (? rt).Since the purpose of this paper only requires a model that fits the Taiwanese economy well during the sample period, we use a general VARX model with a 4 Growth rates in the empirical work are calculated by taking log-first differences. 7 maximum lag length of four and adopt Hsiao’s (1981) method to determine the optimal lags for each variable. 5 S pecifically, the general VARX model can be written as: ? Xt = A0 + A1? Xt-1 + A2? Xt-2 + A3? Xt-3 + A4? Xt-4 + i =0 ? ai ? I t ? i 4 + ? t, (2) where ? Xt is the 4? 1 vector that contains variables other than the growth of the policy instrument.The policy instrument has immediate effects on other variables if the 4? 1 vector a0 is not zero. For example, if the instrument is rt and the target is ? pt, then Xt = [ yt, pt, et, mt ] and equations (1) and (2) can be written as: ? rt = ? ?pt-1, ? Xt = A0 + A1? Xt-1 + A2? Xt-2 + A3? Xt-3 + A4? Xt-4 + (1)’ i =0 ? ai ? rt ? i 4 + ? t. (2)’ Previous studies such as Judd and Motley (1991, 1992, 1993) and McCallum (1988) estimate equation (2) and assume that the economy faces the same set of shocks that actually occurred in the sample period.The estimated equation, the historical shocks, and the policy rule (1) are used to generate the counterfactual data. Statistics calculated from the counterfactual data are then compared to the historical experiences. In these studies, the response parameter ? is arbitrarily set and the results from different ? ’s are compared. However, given linearity of the model and the variance-covariance matrix of historical shocks, one can analytically solve for the value of ? that minimizes the variance of the inflation rates. Specifically, substituting (1) into (2) yields a VAR(5) in ?Xt. For convenience, the VAR(5) system can be written as a more compact expression: 5 We tried to adopt Ball's (1998) open-economy Keynesian type model to Taiwan, but this model was not supported by the Taiwanese data. 8 ?Wt = B0 + B1? Wt-1 + ? t, (3) where Wt = [ Xt, Xt-1, Xt-2, Xt-3, Xt-4 ] and ? t = [? t, 0] are both 20? 1. Assume that ? Wt is stationary. Denote V? W as the variance-covariance matrix of ? Wt and V? the variance-covariance matrix of ?t. Equation (3) implies V? W = B1 V? W B1†² + V?. (4) Given the regression results of (2), the variance of ? t is a function of ? only. Th erefore, the value of ? that minimizes the variance of ? pt, given historical shocks, can be calculated. The advantages of an instrument rule include its simplicity, transparency to the public, and the fact that it is always operational. The central bank responds to observed deviations from the target and does not need to base its policy actions on forecasts that require knowledge of the structure of the economy. However, as noted above, instrument rules are not optimal in the sense that they do not use all available information.The policy instrument only responds to the target variables, which is usually inefficient compared to rules that allow the instrument to respond to all the variables in the model. The following section uses an optimal control problem to derive the optimal policy rule, instead of specifying the rule in advance. 3. 2 The targeting rule A targeting rule is derived from the minimization of a loss function. This loss function reflects the policymaker’s des ired path for the target variable. A commonly used one is a quadratic loss function which penalizes deviations of the target variable from its target value.The policymaker’s optimization problem can be solved with the knowledge of the dynamics of the economic structure, which is equation (2). That is, equation (2) is used as the constraints in the dynamic programming problem. To simplify analysis, equation (2) is written as a first-order system, Zt = b + B Zt-1 + C ? It + ? t, (5) 9 where Zt = [? Xt, ? Xt-1, ? Xt-2, ? Xt-3, ? It, ? It-1, ? It-2, ? It-3]. The constant vector b is 20? 1, B is 20? 20, C is 20? 1, ? t is 20? 1, and their arguments should be obvious. Therefore, the central bank's control problem is to minimize a stream of expected quadratic loss function: T 1 E0 ?Zt ‘ K Zt, T t =1 (6) subject to Zt = b + B Zt-1 + C ? It + ? t, (5) where the expectation E0 is conditional on the initial condition Z0. Again, without loss of generality, the target value is set t o zero since all the variables are expressed as deviations from mean. The elements in the matrix K are weights that represent how important to the central bank are deviations of the target variables from their target values. For example, if the central bank wants to target the inflation rates, then the [2,2] element of K is 1 and the other elements are all zeros.The loss function is equivalent to (1/T) E0 ?t =1? pt 2 . T If the central bank wants to target the nominal GDP, then the 2? 2 block on the upper left corner of K is a unity matrix and the other elements are all zeros. The loss function in this case is (1/T) E0 ?t =1(? yt + ? pt ) 2 . T Now the problem is to choose the policy instrument ? I1, . . . , ? IT that minimizes (6), given the initial condition Z0. By using Bellman's (1957) method of dynamic programming the problem is solved backward. That is, the last period T is solved first, given the initial condition ZT-1.Having found the optimal IT, we solve the two-period prob lem for the last two periods by choosing the optimal IT-1, contingent on the initial condition ZT-2, and so on. Letting T > ? , the optimal policy rule can be expressed as [see Chow (1975, ch. 8) for derivation details]: ? It = G Zt-1 + f , with (7) 10 G = -(C ‘ HC) ? 1 (C ‘ HB), f = -(C ‘ HC) ?1 C ‘ (Hb-h), H = K + (B+CG) ‘ H (B+CG), and h =[I-(B+CG) ‘ ] ?1 [- (B+CG) ‘ Hb]. The rule defines the policy instrument as a function of the predetermined variables in the model. The economy is assumed to face the same set of shocks that actually occurred in the historical period.Therefore, the estimated equations, the policy rule, and the historical shocks are used to generate the counterfactual data. The resulting statistics are compared. Even though it is usually more efficient to let the instrument respond to all the relevant variables than to let it respond only to the target variables, the ad hoc instrument rules are more widely discussed in th e literature. The reason for the preference for simple instrument rules may be that the targeting rule is more sensitive to model specifications. For example, the assumption of full information is generally maintained for the computation of an optimal rule.This tends to make the targeting rule less robust to model specification errors than are the simple instrument rules. In addition, the optimal rule may require larger adjustments of the instrument because it responds to more variables. This would in turn yield undesired higher volatility of the other variables such as output growth. Therefore, again, the choice between the instrument rule and the targeting rule cannot be determined by theory alone and is an empirical issue. 4. Empirical Results 4. 1 Data This paper uses Taiwanese national quarterly time series data for the period 1971:11997:4.The sample starts in 1971:1 because of data availability. All data are taken from two databanks: the National Income Accounts Quarterly and the Financial Statistical Databank. 11 The rediscount rate is used as rt because it indicates the policy intentions of the central Bank of Taiwan most directly. The monetary base mt is defined as the reserve money. The exchange rate target is the NT/US dollar rate. The variable yt is real GDP in millions of 1991 NT dollars, and pt is defined as the GDP deflators. Except interest rates, all variables are in logarithms. All variables are in first-difference form and expressed as deviations from their means.The Augmented Dickey-Fuller (ADF) test is used to ensure that the variables are transformed into stationary processes6. The top row of Table 1 presents the historical standard deviations of the variables in the model in order to allow comparison with the values obtained from the simulations. 4. 2 Estimation results under instrument rules Panel A in Table 1 presents the standard deviations obtained using an instrument rule with inflation as the target variable. The first row of Panel A presents simulation results under an interest rate instrument, while the second row presents results under a monetary base instrument.The simulations using an interest rate instrument yielded standard deviations for output growth, the change in the exchange rate, and money growth that are only slightly higher than those for the historical data, while the standard deviation of inflation is slightly lower than its historical value. The only standard deviation in the first row of Panel A that differs substantially from the historical data is that for the change in the interest rate, which is much lower in the simulation.These results indicate that actual policy in Taiwan achieved results almost as good as those that would have been obtained under an optimal interest-rate instrument rule with the 6 The lag lengths in the ADF regressions are determined by the Akaike Information Criterion (AIC) and the Schwartz's (1978) criterion. The maximum length is set to 12. A time trend is includ ed in the yt, pt, and mt regressions. All results indicate that the original time series are integrated of order one. The results of the tests are available from the authors upon request. 12 xception that the optimal rule would have yielded a more stable rate of interest. The simulation using the monetary base as the instrument yielded slightly higher standard deviations for all variables except the rate of inflation. Those for output growth, the change in the exchange rate, and the rate of interest were only slightly higher than the historical values, while the standard deviation of the growth rate of the monetary base was much higher than its historical value. The standard deviation of the inflation rate is slightly lower than the historical value but is higher than that in the interest rate instrument rule.These results suggest that the discretionary policy implemented in Taiwan was superior to an optimal monetary base instrument rule. They also indicate that an instrument rule u sing the rate of interest would have been superior to one employing the monetary base as instrument, though not by a large margin. 4. 3 Estimation results under targeting rules Panel B of Table 1 presents standard deviations of the variables under the various targeting rules considered here. The first four rows of Panel B present results obtained using an interest rate instrument.In the first row of Panel B the standard deviation of nominal GDP is minimized; in the second row the standard deviation of inflation is minimized; etc. The last three rows of Panel B present results under a monetary base instrument. Notice that for both instruments, if nominal GDP is the target, then the standard deviations of all variables are higher than their historical values. This implies that the growth rate of nominal GDP would not have been a suitable target variable for Taiwan. Furthermore, notice that for all targets under the monetary base instrument the standard deviation of output growth is mu ch higher than its historical value.This effectively rules out consideration of the monetary base as the instrument of monetary policy under a targeting rule for Taiwan. Now notice from the fourth row of Panel B that if the monetary base is the target under an interest rate instrument, the standard deviations of output growth and inflation are both higher 13 than their historical values. This effectively rules out the use of the monetary base as an appropriate target for monetary policy in Taiwan. Finally, by comparing rows â€Å"? pt Target† and â€Å"? t Target† of Panel B, one sees that if the rate of inflation is the target, then the standard deviations of output growth and inflation are lower than if the exchange rate is the target. Also, if inflation is the target, the standard deviations from the simulations for inflation and output are lower than their historical values. Hence it is concluded that Taiwanese monetary policy would have been better than its histor ical performance if it had used an optimal targeting rule with the rate of interest as instrument and inflation as the target. 5. Conclusion Taiwan has been very successful in using discretionary monetary policies.This paper attempts to see whether there exist policy rules that can improve the Taiwanese economy for the past several decades. This paper evaluates several monetary policy rules using Taiwanese quarterly data from 1971:1 to 1997:4. Two types of policy rules are examined. Instrument rules adjust the growth of the policy instrument in response to deviations between the actual and desired values of the target variable. Unlike those in the previous studies where arbitrary instrument rules are proposed, this paper solves analytically for the optimal instrument rules that minimize the standard deviation of the rate of inflation.Targeting rules are derived from the solution to the dynamic programming problem that minimizes a loss function subject to the structure of the economy . The rule expresses the growth of the policy instrument as a function of all the predetermined variables in the model. Two policy instruments (interest rate and monetary base) and four targets variables (nominal GDP growth, inflation rate, changes in exchange rates, and money growth rate) are examined in the paper. Simulations of a simple VARX model and the policy rules suggest that, 14 ompared to the historical policy, the use of a policy rule in Taiwan would not have reduced substantially the volatility of inflation rate. The only policy rule that would appeal to the authority is the direct inflation targeting rule with the interest rate as the instrument. This rule would have reduced the standard deviation of the inflation rate in Taiwan by 0. 7% while maintained similar volatility of the other variables to those in the historical data. 15 References Ball, L. (1998), â€Å"Policy Rules for Open Economies,† NBER Working Paper 6760. Barro, Robert J. (1986). Recent Developme nts in the Theory of Rules Versus Discretion,† The Economic Journal Supplement, 23-37. Bellman, R. E. (1957), Dynamic Programming, Princeton, N. J. : Princeton University Press. Chow, G. C. (1975), Analysis and Control of Dynamic Economic System, John Wiley & Sons Press. Friedman, Benjamin (1975), â€Å"Rules Targets, and Indicators of Monetary Policy,† Journal of Monetary Economics, 1, 443-73. Friedman, Milton (1960), A Program for Monetary Stability. Fordham University Press, New York. Hsiao, C. (1981), â€Å"Autoregressive modelling and money-income causality detection,† Journal of Monetary Economics, 7, 85-106.Judd, J. P. and B. Motley (1991), â€Å"Nominal feedback rules for monetary policy,† Federal Reserve Bank of San Francisco Economic Review (Summer), 3-17. Judd, J. P. and B. Motley (1992), â€Å"Controlling inflation with an interest rate instrument,† Federal Reserve Bank of San Francisco Economic Review 3, 3-22. Judd, J. P. and B. Motley (1993), â€Å"Using a nominal GDP rule to guide discretionary monetary policy,† Federal Reserve Bank of San Francisco Economic Review 3, 3-11. 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H. and Hakes, D. R. (1995), â€Å"Monetary policy as a decision-making hierarchy: The case of Taiwan,† Journal of Macroeconomics 17, 357-368. Taylor, John B. (1993). â€Å"Discretion versus Policy Rules in Practice,† Carnegie-Rochester Conference Series on Public Policy, 39: 195:214.Warburton, Clark (1966), â€Å"Introduction,† Depression, inflation, and Monetary Policy: Selected Papers, 1945-1953. Johns Hopkins Press, Baltimore. Williamson, John and Miller, Marcus (1987). Targets and Indicators, Washington: Institute for International Economics. 17 Table 1:Standard Deviations of the Variables (in Percentage) Output Growth ? yt Historical Data: Simulated Data: (A) Instrument Rules: Interest Rate Instrument: ? pt Target Monetary Base Instrument: ? pt Target (B) Targeti ng Rules: Interest Rate Instrument: ? (yt + pt) Target ? pt Target ? et Target ? t Target Monetary Base Instrument: ? (yt + pt) Target ? pt Target ? et Target 5. 346 3. 862 3. 798 4. 964 1. 972 3. 449 2. 767 5. 950 2. 139 14. 63 27. 781 6. 794 0. 185 0. 198 0. 159 4. 348 2. 993 3. 047 4. 446 4. 314 2. 092 3. 064 6. 880 3. 076 2. 469 2. 361 2. 771 5. 421 4. 473 4. 281 4. 058 0. 485 0. 175 0. 332 0. 431 -2. 38 3. 308 2. 748 2. 718 6. 540 0. 178 3. 185 Inflation Rate ? pt 2. 793 Change in Exchange rate ? et 2. 415 Monetary Base Growth ? mt 4. 315 Change in interest rate ? rt 0. 162 Optimal ? : 0. 0133 3. 201 2. 633 2. 601 4. 454 0. 035The sample period is from 1971:1 to 1997:4. The variable ? yt is real GDP growth rate, ? pt is inflation rate, ? et is change in exchange rates, ? mt is monetary base growth rate, and ? rt is change in interest rates. All data are from the National Income Accounts Quarterly and the Financial Statistical Databank data banks. The response parameter ? in the instrument rules defines the proportion of a target miss to which the central bank chooses to respond. 18 Figure 1 Inflation Rate (annual rate %) 70 60 Inflation Rate (% per year) 50 40 30 20 10 0 -10 70 74 78 82 Year 86 90 94 98 19