Week 4-Applied business research Assignment Example | Topics and Well Written Essays - 1000 words

Week 4-Applied business research - Assignment Example (2) The graph includes only two data points yet wants to argue that this is a trend caused by stricter enforcement.  Chance or random  fluctuation is inherent in nearly every human phenomena.  Two successive observations of anything are likely to vary.  Two observations do not make a trend. (3) The graph lacks context both in terms of a longer series of observations for Connecticut traffic fatalities and in comparisons with other states that, during this period, did not crack down on speeding. (4) The graph doesn’t take population  size into account.  The more people, the more drivers, the more likely you’ll have traffic fatalities.  Increases in fatalities may be an artifact of increases in the number of drivers.  Decreases may be an artifact of population decline. Based on the output table below, what percentage of districts with the fewest experienced teachers can be found among school districts that score among the highest third of all districts on a measure of the percentage of their students who pass standardized tests? What two additional percentages in the table above would you report in an edited table to support an argument that districts with more experienced teachers tend to be the highest scoring districts on standardized

Business case and environment Dissertation Example | Topics and Well Written Essays - 5000 words

Business case and environment - Dissertation Example However, the HR related works are still scattered across the various departments in the organization. However, the CEO of the company has other bigger and better plans. (As the next section says the plans referred tot he expansion plans. Please have a look. ) The CEO wanted to expand the company. The expansion is supposed to happen both in case of product line as well distribution, as the top management plans to open two more retail shops in the country; one in Calgary and another one in Toronto. Therefore the organization needs manpower both in case of quality and quantity. So the organization is going through a transformation phase. However, it is to be added that the employees of the company has not yet been informed about the proposed idea of change. In order to achieve the organizational objective the management has hired some new experienced faces. One of them happens to be the HR manger. This section of the study would look to analyze the way the HR manager dealt with th e problems, solved them and effectively implemented the organizational change would be discussed. Data Collection The data collected happens to be secondary in nature. The main reason for such choice is the fact that the secondary data collection method is the best to gather quality and relevant data within a short period of time in a cost effective fashion. Also it is to be added that the secondary collected is primarily qualitative in nature. One of the main challenges faced by the HR manager was the integration of the HR department. As mentioned earlier the HR department had two staffs only looking after recruitment and operations. Also the HR works were scattered over the other departments. Therefore the HR manager realized that it is important have all the HR activities under one umbrella. Hence the HR manager decided to recruit some HR executives so that the HR functions can be integrated. Each of the HR executives was given responsibility to look after the HR issues related t o issues of each department. Each of the executives will act as a touch point to the departmental heads. Each of the executives would be reporting to the HR manger. In this way the manger would be able to be in touch with the different departmental heads and also the HR department would become integrated in nature. The next area of focus for the HR manger was the employee morale and productivity. After analyzing the past employee records the manger found out that the average age of employees in the organization is six to eight months. This needs to be changed if the organization plans to achieve growth. Therefore the manager asked the HR executives to carry out an organizational research to find out the key pressure points. Based on the findings of the survey the manager found out that there is a lot of uncertainty regarding the reporting relationships and job security in the organization. Also many of the employees were not properly sure about the job description. Add to that the m anger also found out that since the HR organizational did not have a fully operational HR department activities such as the performance appraisal, salary increments were quite fragmented in nature. Therefore the manger decided to create Key result areas (KRA) and job descriptions for each of the designations. This would most certainly help the employees understand the roles in the organization. The employees can understand what is expected of them

Understanding Your Role As A Teacher Essay Example for Free

Understanding Your Role As A Teacher Essay I have been asked to critically examine and discuss the work of three selected authors and to compare and contrast their views. I will link this theory to my experience of working with children, and give my own views and how this has developed my understanding in my role as a trainee teacher. The readings I have chosen to discuss and compare are: An Introduction to Children’s Learning (Ray Potter), The Significance of Young Children’s Personal, Social and Emotional Development (Dowling M) and How Children Learn (Curtis A, O’Hagan M). Potter discusses how behaviourism and cognitive development are the two most widely regarded theories in the approaches to learning and how these theories have implications for teaching. ‘Behaviourism is a theory of learning focusing on observable behaviours and discounting any mental activity.’ (Pritchard 2008:6). He discusses several theorists and how their theories help children learn, and how teachers manage learning more effectively in the classroom. He talks about behaviourism and how children learn from life experiences. ‘Behaviourist claims that we are what we are, not because of innate intelligence or genetic factors, but solely due to our life experiences’. Potter (cited in Jacques et al 2004:63). Skinner, a pioneer in behaviourism, believed that behaviour could be controlled through ‘conditioning’, the act of rewarding desired behaviour (positive reinforcement) and ignoring undesired behaviour (negative reinforcement). Many of Skinner’s theories branch from his animal experiments, whereby he would reward with food and punish when saw unacceptable behaviour. This is highlighted in An Introduction to Children’s Learning (Potter), as to how this theory has been adapted in today’s schools. â€Å"Conditioning occurs in many schools in the morning when the children first arrive in the playground. They will be playing and talking to each other when they see their teacher come into the playground. The children will immediately line up in front of their teacher ready to go in to school†. This I observe everyday in my school setting. In the Introduction to Children’s Learning (Ray Potter) it states that children achieve well through the â€Å"behaviourist psychology which goes back many years to Pavlov and Skinner, thus children learn by listening carefully to get the correct stimulus and through the repeated reinforcement of correct responses†. This is evident in schools today, whereby teachers encourage children to chant and repeat facts across the curriculum. This is in the hope that repetition will result in the information becoming innate, consequently allowing the children to regurgitate at the drop of a hat, but it could argued do the children lose the meaning. One has to ask however, how successful is this for all children? Biggs (cited in Leask 2009:89) ‘A pupil’s motivation influences the learning strategies they adopt. A pupil with an instrumental motivation is likely to adopt reproducing or rote learning strategies.’ Do children retain this knowledge? We know now after many years of research that not all children benefit from the dated ‘talk and chalk’ style of teaching. The philosopher Confucius cited in Ray Potter’s In the Introduction to Children’s Learning, pondered the theory â€Å"I do and I understand†, this was later developed by Piaget who based his cognitive theories and ‘emphasis on doing, activity and experience children learn through interaction with their environment’. (Kitsen et al 1997:2) ‘Piaget was actually keenly aware of the importance of social factors in children’s learning.’ Bruner believed that children think through three modes, enactive (actions), iconic (pictures), and symbolic (words and numbers). Providing the information is presented in an appropriate way and the information is appropriate to the child’s age, then the child will be able to understand and learn from it. Bruner’s theory is that children’s learning is active and they base concepts on their previous knowledge. The past knowledge helps the learner to process the new information to support decisions in the form of cognitive development. This allows the child to build on past experience and develop further the information given. Like, Vygotsky, Bruner also believed that social interaction and culture played a big role in cognitive development. ‘Bruner felt that children were organised according to their experiences and that they are active in their learning’ (Tassoni, 2005:197). Potter also discusses cognitive theories and how the next generation theorist such as Piaget, Vygostsky and Bruner believe that memory, understanding and thinking are vital in children’s learning. ‘But these are the very stuff of the next generation of theorists, the cognitivists.’ Potter, (cited in Jacques et al 2004:66). The role of social interaction is based on theories from Vygotsky and Bruner. To put the role of social interaction into place at school the pupil and teacher need to work together by the teacher helping to create meaning, rather than dictating what is to be learned. Learning through social interaction does not always occur in school. Children also learn through social interaction with their peers, parents and other adults. A prime example of this social impact that is used in many schools today is the use of the school council. Children regardless of age, economical background, race and gender can voice their views and have their views challenged in a safe environment. ‘Social interaction (particularly those which take place between themselves) may facilitate the course of development by exposing a child to other points of view and to conflicting ideas which may encourage him to re-think or review his ideas’ (Wood 1998:17). Piaget’s theory maintains that children need to overcome a sequence of stages in development. These stages are complex and appear in four main categories. The sensory-motor stage begins from birth to two years, the child learns through sensory experiences and movement. The pre-operational stage from approximately two to seven years of age, when the child begins to develop the skill of using symbols and how things look, yet they are unable to direct logical thinking. By the age of seven to eleven or twelve children have begun to make connections by thinking logically and associating their thoughts to concrete situations, Piaget describes this as the concrete-operational stage. At approximately eleven or twelve the formal operational stage falls into place, by this age to adulthood we begin to use more sophisticated levels of abstract and logical thinking. He believes the development of stages from childhood to adulthood is a consequence of the individual’s experience with the environment around them. They are learnt through assimilation, accommodation and adaptation. ‘Every living thing must adapt to its environment if it is to survive.’ Vygotsky focused on language and communication as a support to a child’s cognitive development. He looked at how children interact with their peers and adults and how it influences their communication and language on a social level. This form of social interaction does not always have to be verbal, gesture and body language is communication learned though peers or adults. Another aspect of Vygotsky’s theory is the zone of proximal development. This is when development is gained through social behaviour. The skills of social interaction can be developed further with guidance from adults and peers. We as facilitators can support learners by scaffolding, gradually reducing support so the child becomes capable of independently completing a task. ‘The ‘zone of proximal development’ seems a vital idea for teachers to have in mind when talking to individual children. Could it be applied to pairs? Or to small groups? Or to a whole class?’ (Kitson et al, 1997:154). Dowling discusses how children’s personal, social and emotional development has a significant factor in children’s learning. Dowling explains that three themes often occur in any debate about early childhood issues, which are -context, continuity and controversy. An ideal example of this in practise is a well managed Foundation Stage classroom. Being an unqualified Reception teacher for the past two years, I have observed and experienced this environmental situation of context, continuity and controversy. For example role play areas are set in line with the topic e.g. Healthy Eating- setting up a restaurant. However the theory of constructivism being the idea that things are the way they are, is socially constructed e.g., boys play with cars, girls play with dolls. This is an integral part of everyday life. Toys are being marketed gender specifically. Children often arrive in a school setting with premeditated views coming from the way they have been brought up and through media advertisement. This can counteract the good practise that is trying to be initiated in foundation Stage settings of today. Cultural assumptions, according to Richardson, the ‘nature’ of girls’ and boys’ behaviour reproduce rather than expose inequality and work against young women in schools while supporting gendered stereotypes in society.’ (1997:25). When the children immerse themselves in the theme, their personal, social and emotional development thrives and their creativity blossoms. The current way the Foundation Stage is run nationally has been very successful in that funding has been given to early year’s education to allow schools to be successful in their early years teaching and development. However the new government has controversially pulled all of this funding and at present we are unsure as educators of which directive we will be undertaking. In contrast Dowling explains that in China children who attend Kindergartens receive homework in literacy and numeracy. The focus is on academic achievement rather than personal, social and emotional development. Therefore it has been found that these children rarely gain these skills in later life. Dowling (2000:17) ‘Asian education methods have valued academic development while damaging other aspects of children’s growth, which help them to live and achieve in society.’ It is similar to the theories of Piaget, Bruner and Skinner but I believe the actual concept that is being modelled is wrong if we are to educate young people to live successfully in today’s society. Similarly Curtis and O’Hagan discuss how factors can affect learning. They introduce the chapter by focusing on ‘What is learning? They discuss several ways children learn and factors which can affect this. These are development, environmental factors, and periods of learning, memory, concentration, cognitive styles, and intelligence. They believe children construct their knowledge and understanding through their experience with the environment, and that learning is active and experience based. They agree that children are not less knowledgeable than adults, that children just see the world differently at their level. In my classroom adults often celebrate when they have learnt something new, especially when the learning has been imparted from the child to an adult. The child just prioritises their learning differently from the adult. Children need this scaffolding in order to develop in many ways. This lending itself to Vygotsky’s theory. (Pollard 1994:13) ‘’they are thus seen as intelligent social actors who, although their knowledge base may be limited in absolute terms, are capable in many ways.’ In conclusion to the theories looked at, are all based around children’s learning and similar in view.. It is possible to learn from each of them and use the theory in practice in a classroom. As a teacher I would be more inclined towards Vygotsky’s theory. This is mainly due to the fact that we can challenge children to go beyond what they already know in our school environment. (Curtis et al 2005:36) ‘Educators began to realise that a stimulating environment could increase intelligence.’ For children to experience a broad and balanced curriculum we as facilitators need to be able to challenge and help children develop further. In order to help them do this we need to scaffold their learning by gradually withdrawing support and guidance so that the child can perform the task independently. I feel scaffolding is a skill that will develop overtime with experience promoting desired behaviour. (Corrie, 2002:174) ‘Teachers scaffold children’s learn ing when they help them to achieve something that they, could not do without the teachers assistance.’ The ability to judge how much and how little support is a difficult notion and varies from child to child. From Piaget, I have learned that for children to work independently and solve problems they need to build on their past experiences. Despite this I believe that with the guidance of a more knowledgeable peer or adult the child can learn through social interaction. Through social interaction a child might learn today what might take them weeks to learn if left to explore individually. I would suggest that if we can help and challenge children to go beyond what they know, they would continuously be learning new knowledge. I am also aware from working in inner city school; social factors have a huge influence in children’s learning. I understand how important it is to promote positive role modelling and give children first hand experiences in order to learn. ‘The context of the school can make a significant difference to children’s behaviour, self concept and self esteem as these accounts testify.’ (Rogers, 2009:13). Bibliography Jacques, K. Hyland, R. (2004) Professional Studies: Primary Phase, London: Learning Matters Ltd. Kitson, N. Merry, R. (1997)Teaching in the Primary School, London: Routledge. Leask, M (2009) Supporting Teaching and Learning in Schools. Oxon: Routledge. Llleris, K. (2007) How We Learn: learning and non learning in school and beyond. London: Routledge Pollard, A. Bourne, J. (1994) Teaching and Learning in the Primary School. London: Sage. Prichard, A. (2008) Ways of Learning: Learning theories and Learning Styles in the Classroom. Oxon: Routledge. Richardson, V (1997) Constructivist Teacher Education: Building New Understandings. Great Britain: Biddles Ltd Rogers, B (2009) Manage Children’s Challenging Behaviour London: Sage Tassoni, P. (2005) Diploma in Child Care and Education. Oxford: Reed Educational Professional Publishing Ltd. Thornton, S. (2008) Understanding Human Development. London: Pelgrave Macmillan Wood , D. (1998) How Children Think and Learn, 2nd ed. Oxford: Blackwell Publishing.

How to Write an English Language Dissertation

How to Write an English Language Dissertation An English language dissertation is a substantive academic piece of writing at postgraduate level – Masters or Doctoral – that aims to defend a thesis or position and, by doing so successfully, contributes original research and insight to the field of English language studies. Understanding how to write an English language dissertation is the first step in achieving the demanding academic objectives of original and significant research in your field. Learning how to write an English language dissertation then, is probably the most important part of postgraduate studies. How to begin to write an English language dissertation. There are two major components to learning how to write an English language dissertation. These are: The planning, research and note-taking phase The structuring, organising and writing phase Understanding how to write an English language dissertation begins with the deceptively simple task of developing a clear and achievable objective within a given topic or area of research. When writing an English language dissertation, the topic will change over time, as research and reading brings to light new ideas and questions, until it develops into a very specific focus based within the original research topic of interest. The planning, research and note-taking phase should begin as soon as possible, but the structuring, organising and writing phase should also begin sooner rather than later. This is because both phases are mutually supportive. It is important to remember that learning how to write a successful and significant English language dissertation requires numerous drafts. With each new draft, the topic of the thesis becomes clearer and directs the student to further research. Both phases of writing an English language dissertation should occur simultaneously. Planning how to write an English language dissertation. The initial planning, research and note-taking phase begins with developing a topic, usually in collaboration with the student supervisor. The supervisor will be the first point of contact and this is where you begin by sounding-out your ideas for a suitable topic. The topic chosen for an English language dissertation will be general, at first, for example you may be interested in the sociolinguistic aspect of the English language. Begin by reading widely in sociolinguistics until you uncover a specific aspect that might come up in the literature, but that has yet to be explored further. This gap in the research is where you may focus your own research project and offer something new in the field of sociolinguistics. For example, a more appropriate research topic would be to consider how sociolinguistic theory of the English language may offer insight into the fiction of migrant novelists. When you have decided on a narrower topic of interest, you must be able to write it up in about eight words. This will be the title of your English language dissertation. Learning how to write an English language dissertation, however, is not just about coming up with a topic and writing about it. A student faced with the task of writing a dissertation must balance two things: theoretical research and practical activity. The theoretical aspect simply refers to reading, research, analysis and evaluation. The practical aspect involves personal and time management, setting deadlines and meeting them. It is important to address the practical aspects of writing your English language dissertation as soon as possible, by doing the following: Develop a draft title for your dissertation Write up an initial reading list Write an outline of the dissertation Set a date for completion of initial reading list Set a date for a first draft Set dates for subsequent research deadlines Set dates for subsequent drafts How to write an English language dissertation with effective structure. Learning how to write an English language dissertation also includes learning about structure. Individual universities and supervisors have their own expectations of how a dissertation should be structured, so in all cases it is best to refer to your supervisor and to your departmental handbook for writing an English language dissertation. In general, however, your dissertation should be structured like this: Title page: Include the title of your dissertation, your name, your supervisors name, and department and course information. Abstract: Summarise the introduction, body and conclusion of your dissertation in around 125 words. Acknowledgements: Thank the people who have been instrumental to you during the writing of your English language dissertation. Table of contents: List the chapters and sections of your dissertation with page numbers. Introduction: Introduce your thesis, outline the scope and structure of your dissertation and anticipate your conclusion. Main body: Present in complete detail your research and reading, respond with your analysis and evaluation of the research, and argue your new and significant perspective. Conclusion: State your response to the original thesis of your English language dissertation and conclude your argument. Remember that your conclusion must present something completely new in the field of English language studies. You may also make recommendations for further research along the lines of your topic. Bibliography: List your sources according to the style preferred by your university. Consult the style guides before doing this. Because this is an English language dissertation you will most likely use the styles preferred by the Humanities, such as CMS, MLA, Harvard or Oxford. Acknowledging your sources is as important as writing and researching, because it shows the breadth of your background reading and accumulated knowledge and avoids accusations of plagiarism. Appendices: Add information that is not necessary to your central argument but may be of interest to your reader for further exploration and research. How to write an English language dissertation with effective style. When writing an English language dissertation it is important to remember that this is a significant piece of academic work, no less than an intellectual and critical achievement. As such, your work must not only be original and give evidence of superior research skills and critical thinking and analysis, but it must also be written with style and quality that is indicative of your flair for academic reasoning. The purpose of writing an English language dissertation is to present your ideas in a clear and concise fashion, using vocabulary that is suitable to your purpose, and executed in an appropriate style to your subject. It is important to write well at both the sentence level and the overall level. Sentences should be grammatically correct and linked together to effectively present your analysis and argument. At the larger level, paragraphs should be organised in a way that allows the argument to flow naturally and logically to its conclusion. The style and quality of your writing is the main tool that will help you showcase your research and critical thinking skills. Learning how to write an English language dissertation in the style appropriate to the field is the best way to exhibit the desired academic ideals of critical thinking and and significant research at the culmination of your studies. 2/ 4

Effects Of The Financial Crisis On Iceland Economics Essay

Effects Of The Financial Crisis On Iceland Economics Essay The country of Iceland is the smallest economy within the Organization for Economic Cooperation and Development (OECD) with a gross domestic product (GDP) in 2007 of about $11.8billion. The Icelandic economy has been based on marine and energy resources. More recently, Iceland has developed a very strong services sector, which accounts for two-thirds of the economic output. Since the start of the decade i.e. from 2000, Iceland has experienced particularly strong growth in its financial services sector. Trade accounts for a large share of Icelands GDP, with imports accounting for 46% in value and exports accounting for 35% in value of goods and services of GDP. Icelands main export item was fish and other marine products until the year 2006, when Iceland began to capitalize on its abundant thermal energy resources to produce and export aluminum. A combination of economic factors over the early to mid-2000s led to Icelands current economic and banking distress. In particular, access to easy credit, a boom in domestic construction that fueled rapid economic growth and a broad deregulation of Icelands financial sector spurred the banks to expand rapidly abroad and eventually played a role in the eventual financial collapse. Iceland benefited from favorable global financial conditions that reduced the cost of credit and a sweeping liberalization of its domestic financial sector that spurred rapid growth and encouraged Icelands banks to spread quickly throughout Europe. The 2008-2010 Icelandic financial crisis was a major ongoing economic crisis in Iceland that involved the collapse of all three of the countrys major banks (Kaupthing, Landsbanki, Glitnir) following their difficulties in refinancing their short-term debt and a run on deposits in the United Kingdom. Relative to the size of its economy, Icelands banking collapse was the largest suffered by any country in economic history of the world. This was the main reason why Iceland had to suffer so much in the crisis. Commenting on the need for emergency measures, Prime Minister Geir Haarde said on 6 October 2008, There [was] a very real danger that the Icelandic economy, in the worst case, could be sucked with the banks into the whirlpool and the result could have been national bankruptcy. He also stated that the actions taken by the government had ensured that the Icelandic state would not actually go bankrupt. At the end of the second quarter 2008, Icelands external debt was 9.553 trillion Icelandic krà ³nur (à ¢Ã¢â‚¬Å¡Ã‚ ¬50 billion), more than 80% of which was held by the banking sector. This value compares with Icelands 2007 gross domestic product of 1.293 trillion krà ³nur (à ¢Ã¢â‚¬Å¡Ã‚ ¬8.5 billion). The assets of the three banks taken under the control of the FME totaled 14.437 trillion krà ³nur at the end of the second quarter 2008. MONETARY POLICY Monetary policy is the process a the government, central bank, or monetary authority of a country uses to control (i) the supply of money, (ii) availability of money, and (iii) cost of money or rate of interest to attain a set of objectives oriented towards the growth and stability of the economy. Monetary theory therefore provides insight into how to craft optimal monetary policy. Monetary policy is contrasted with fiscal policy, which refers to government borrowing, spending and taxation. During the financial crisis, Icelands monetary policy credibility had been very seriously damaged. Unsatisfactory inflation outcomes had already undermined the credibility of the monetary framework, even before the financial crisis started and, consequently, inflation expectations were poorly anchored. Icelandic economists had said that due to the huge impact of the crisis, rebuilding the credibility was likely to take time, and also maintaining it might be very difficult. However, after the crisis, the Monetary Policy Committee (MPC) had voted to lower the Central Bank interest rates by 0.5 %. By supporting the interest rate cut, it lead to the appreciation of the krona in trade weighted terms. As in the ISLM Model, a decrease in the interest rates leads to an increase in the money supply. Therefore, this has lead to an expansionary monetary policy, as the interest rates were lowered, and also the MPC supported or voted for lower interest rates. MONETARY POLICY GRAPH The above graph shows the shift in the LM towards right, which has lead to an expansion in the LM curve. Since the MPC voted for a lower interest rates , the money supply was increased. Therefore, the LM curve shifts from LM1 to LM2, leading to an expansionary of the monetary policy. FISCAL POLICY In economics, fiscal policy can be defined as the use of government expenditure and revenue collection to influence the economy. Fiscal policy refers to the overall effect of the budget outcome on economic activity. There are three possible stances of fiscal policy: Neutral stance, which implies a balanced budget where, govt. spending = Tax Revenue Expansionary stance, increase in the govt. spending and reduction in tax revenue Contractionary stance, decrease in the govt. spending and increase in tax revenue During the financial crisis, there was an increased government debt. Due to the recession and rising debt servicing costs, the public deficit was projected to be above 10% of GDP in 2009, adding to the public debt burden. As a result, a considerable fiscal consolidation was therefore needed to put public finances back on a sustainable path and to pave the road for a successful euro-area entry. It was also important to reduce the deficit vigorously in the coming years, so that the country can reach the goal of balance. In order to eliminate the deficit, the government of Iceland had the option of tax increases as well as spending cuts, it then decided to opt for the former as they were easier to introduce immediately. The starting point for the tax increases would have been to reverse tax cuts implemented over the boom years, but Iceland could no longer afford. This would involve the increase in the personal income tax and also lift the reduced rate of VAT (Value Added Tax). This planned fiscal consolidation, would involve measures which would help to contain the expenditures. FISCAL POLICY GRAPH The above graph, shows the shift in the IS curve towards left, which leads to the contraction of the IS curve. Since the govt. decided to reduce their expenditure and increase the taxation, in order to consolidate the fiscal policy, the IS has moved towards left, leading to an contractionary fiscal policy. INFLATION In economics, inflation can be defined as the rise in the general level of prices of goods and services in an economy over a period of time. When the price level rises, then each unit of currency buys fewer goods and services; consequently, annual inflation is also erosion in the purchasing power of money a loss of real value in the internal medium of exchange and unit of account in the economy. The effects of inflation on an economy are manifold and can have both simultaneously positive and negative impacts. Since Iceland, comes from a small domestic market, the banks in Iceland have financed their expansion from getting loans on the inter-bank lending market and, more recently, by getting deposits from outside Iceland (which are also a form of external debt). Large amount of debt was also taken by the households, which was equivalent to 213% of the disposable income, causing inflation in the country. Due to the practice of the Central Bank of Iceland issuing loans (liquidity) to the different banks on the basis of uncovered bonds which are newly issued and printing money on demand, this lead to inflation being exacerbated. Due to the financial crisis, the country of Iceland suffered inflation. On 25th of March 2008, popular website, Bloomberg.com that Iceland had raised its rates to 15% by raising its repo rate by a huge 1.25% in one day. The website also reported that the country was facing an inflation rate of about 7%. However, the Central Bank of Iceland had a goal of maintaining the inflation rate of about 2.5%. Also the Icelandic currency, krona has declined against the euro, from about 100 ISK per euro at the beginning of the year (2008), to its nadir of 125 on March 19 2008. Due to the interest rate hike it had the effect of moving it to about 116 from about 122. In August 2006, the country of Iceland made news when it had increased its interest rate to 13.5%. At that time, the krona was very strong against the euro. Iceland made news previously in August, 2006 when it increased its interest rate to 13.5%. The krona was then trading at a stronger at 90 to one euro. Some main factors why Iceland incurred inflation was mainly due to, the value of krona depreciated, secondly the prices of various commodities kept on soaring, and lastly, there was uncertain effect on wage agreements on labour costs. Since the financial crisis brought a huge change in the development of the economies in the world, as well as making many banks go bankrupt, the Icelandic debt is now over 320 billion krona, which is roughly about $4 billion US dollars. This figure is huge; as one can say considering that its about a quarter of their GDP. INFLATION GRAPH Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2010 6.60 7.30 8.50 2009 18.60 17.58 15.19 11.89 11.63 12.18 11.32 10.90 10.81 9.71 8.63 7.50 2008 5.77 6.79 8.72 11.76 12.32 12.74 13.55 14.54 14.02 15.89 17.15 18.13 2007 6.89 7.41 5.87 5.29 4.67 4.01 3.76 3.45 4.18 4.47 5.19 5.86 The above graph shows Icelandic inflation rate over the past 3 years. In the graph, one can make out how the inflation rate climbed up consistently in the year 2008, whereas in the year 2009, the inflation rates kept on falling except in the month of June where it increased, but since then it had kept on decreasing. In the year 2008, the reason why inflation rate climbed up consistently, was because of the krona which had been depreciating, where as in the year 2009, the inflation rates kept on falling as the property prices fell, which resulted in the fall of prices. UNEMPLOYMENT Unemployment can be defined as people who do not have a job, have actively looked for work in the past four weeks, and are currently available for work. Also, people who were temporarily laid off and are waiting to be called back to that job are counted as unemployed. Some types of unemployment are listed below: Structural Unemployment. Frictional Unemployment. Cyclical Unemployment. Since the financial crisis, lead to large percentage of unemployment all over the world, Iceland was also one of them which had a quite high rate of unemployment. Unemployment in Iceland increased tree times more by the end of November 2008. There were more than 7000 registered jobseekers (about 4% of the workforce) in November compared to just 2136 at the end of August 2008. The debt repayment had become more costly as household debt (80%) and 13% denominated in foreign currencies had become indexed. The impact of the crisis was such that since October 2008, 14% of the total workforce had experienced reductions in pay, whereas around 7% of the workforce had their working hours reduced. According to IFL (Icelandic Federation of Labour) president Gylfi Arnbjà ¶rnsson, the above figures were lower than expected More than 85% of the workforce who were currently registered as unemployed in the country, stated that they had become unemployed or lost their jobs in October after that, due to the economic collapse. In December 2008, the unemployed figures which were registered in Iceland was 4.8 per cent, or around 7,902 people an increase of some 45 percent in November, according to the figures from the Directorate of Labour. These unemployment figures were the highest, Iceland had recorded since January 1997. In the same month i.e. December in the year 2007, unemployment rate partly was 0.8 percent, or 1.357 people. The Directorate of Labour had estimated that the figure will rise to 6.4-6.9 percent by the end of January 2009. Among those unemployed, the rate of unemployment among young people had increased the fastest, with the number of registered 16 to 24 year olds jumping from 1,408 to 2,069 in the month to the end of December 2008. This age group accounts for 23 percent of the entire jobless total. UNEMPLOYMENT GRAPH 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 2003 2004 2005 2006 2007 2008 2009 2010 The above graph shows the rate of unemployment over the past 7 years. During the financial crisis, the rates skyrocketed especially in the year 2010, due to the banking as well as financial collapse. Many became jobless as banks and other sectors were closed. Other reason why the rate was high in 2010 was, because the fishing sector was affected. This sector accounts for 10% of the total workforce in the country. GROSS DOMESTIC PRODUCT The Gross Domestic Product (GDP) is defined in economics as a basic measure of a countrys overall economic output. It is the market value of all final goods and services made within the borders of a country in a year. It is often positively correlated with the standard of living, though its use as a stand-in for measuring the standard of living has come under increasing criticism and many countries are actively exploring alternative measures to GDP for that purpose. The Gross Domestic Product (GDP) can be determined in three ways, all of which should in principle give the same result. They are the product (or output) approach, the income approach, and the expenditure approach. Prior to the 2008-2010 crises, the economy of Iceland had achieved high growth, also had a low rate of unemployment, and a remarkably even distribution of income all over the country. The economy depended heavily on the fishing industry which is the main source of their income, which provides 70% of export earnings and employs 10% of the work force. Icelands economy had been diversifying into manufacturing and service industries in the last decade, with new developments in software production, biotechnology, and tourism. During the global financial crisis, the crisis-stricken Icelandic economys GDP shrank by a record 6.5% in 2009, despite having a decent growth of 1% in 2008 and massive growth of 6% in 2007. The decrease in the gross domestic product (GDP) by 6.5% was a record in the national accounts of Iceland. There was a sharp decline in GDP in last year (2009) as the domestic expenditure plunged by 20.1%, then the household consumption also fell to 14.6% due to unemployment and government consumption dwindled by 3%. Also, Icelands fixed capital formation dropped by 49.9%. These were the reasons why the gross domestic product (GDP) fell by a huge margin, in the year 2009. After the crisis, the Gross Domestic Product (GDP) in Iceland managed to expand at an annual rate of 3.30 percent in the last quarter i.e. in the year 2009. Iceland Gross Domestic Product is now worth 17 billion dollars or 0.03% of the world economy, according to the World Bank. Icelands Scandinavian-type social-market economy combines a capitalist structure and free-market principles with an extensive welfare system, including generous housing subsidies. GROSS DOMESTIC PRODUCT (GDP) GRAPH Year Mar Jun Sep Dec Average 2009 -5.10 -0.40 -7.20 3.30 -2.35 2008 2.90 -6.00 1.80 3.20 0.48 2007 2.10 0.80 5.10 -1.00 1.75 The above graph, describes the changes in the gross domestic product (GDP) of Iceland over the past 3 years. During the years 2007 2008, Iceland recorded a growth in the GDP, which helped in boosting the Icelandic economy. However, most of the year in 2009, it recorded a huge decline of 6.5%, except in the last quarter i.e. in the month of December where it a recorded a positive GDP. The main reasons why the GDP declined in the year 2009 was because the household consumption, the government consumption, as well the domestic expenditure rate had fallen massively, resulting in a negative GDP for the most part of the year. CURRENCY The Iceland currency which is known as krà ³na had been declined more than 35% against the euro from January to September 2008.Inflation of consumer prices was running at 14% and Icelands interest rates had been raised to 15.5% to deal with the high inflation. In the month of October 2008, the effects of financial crisis brought about a collapse in the Icelandic banking sector. The Central Bank of Iceland abandoned its attempt to peg the Icelandic krà ³na at 131 krà ³nur to the euro after it had tried to set this peg in the month. During the month, the Icelandic krà ³na was trading at 340 to the euro when trading in the currency had collapsed because the last major Icelandic bank had been takeover by the FME and thus the loss of all krà ³na trade clearing houses. Then, the central bank introduced restrictions on the purchase of foreign currency within Iceland. From October to November, the European Central Bank quoted a reference rate of 305 krà ³nur to the euro. The Central Bank of Iceland had then set up a temporary system of daily currency auctions in the month of October to facilitate international trade. The value of the krà ³na was determined by supply and demand which took place in these auctions. The first auction sold à ¢Ã¢â‚¬Å¡Ã‚ ¬25 million at a rate of 150 krà ³nur to the euro. Commercial krà ³na trading outside Iceland had again been started in the end of October, at an exchange rate of 240 krà ³nur to the euro, after which Icelandic interest rates had been raised to 18%. The foreign exchange reserves of the Central Bank of Iceland had felled by US$289 million during the month of October 2008. During November 2008, the real exchange rate (discounting inflation) of the Icelandic krà ³na, which was quoted by the Central Bank of Iceland, was approximately one-third lesser than the average rate from the period 1980-2008, and also 20% lower than the historical lows during the same period. The external rate which was quoted by the European Central Bank was still lower. On the last trading day of the month November, the Central Bank of Iceland had quoted 182.5 krà ³nur to the euro, while the European Central Bank had quoted 280 krà ³nur to the euro. INTERNATIONAL TRADE The economy of Iceland is small and subject to high volatility. Icelands standard of living is among the worlds highest, in part due to the overall openness of its economy, which has allowed Iceland to reap significant benefits from specialization and trade according to a report on the trade policies and practices of Iceland published by the WTO Secretariat. Iceland has a mixed economy with high levels of free trade and government intervention. Iceland has a free market economy with relatively low taxes compared with other OECD countries. However, government consumption is less than in other Nordic countries. Icelands trade policy is pursued along three main tracks: multilateral trade liberalisation through the WTO, regional liberalisation through the European Economic Area (EEA) with its EFTA/EEA partners and the European Union and finally, bilateral free trade agreements in cooperation with its EFTA partners Norway, Liechtenstein and Switzerland. Icelands international treaties hav e strengthened foreign trade. The EEA Agreement covers the free movement of goods, persons, capital and services. Membership in the EEA in 1994 and the Uruguay Round agreement brought greater market access for Icelands exports, capital, labor, and goods and services, especially seafood products. Agriculture is heavily subsidized and protected by the government, with some tariffs ranging as high as 700 percent. Iceland is a part of the World Trade Organisation (WTO). The WTO was established on the 1st of January 1995. It is an organization designed to supervise and liberalize international trade. Since the early 1990s, Iceland and its other partners in the European Free Trade Association (EFTA) Liechtenstein, Norway and Switzerland have established an extensive network of contractual free trade relations in Central and Eastern Europe, the Mediterranean region and with countries in other parts of the world. The WTO deals with controlling of trade between participating countries; it provides a framework for negotiating trade agreements. The country has signed a large number of multilateral and bilateral agreements. Iceland is furthermore strongly committed to the Doha Development Agenda and a fair and equitable outcome that will benefit the entire membership. Iceland supports the Doha Development Agenda Global Trust Fund, which is intended to assist developing countries in taking advantage of the opportunities created by increased trade liberalization. Iceland exports 40% of fish and fish products, 40% of aluminum and alloys and animal products. The main imports are machinery and equipment, petroleum products, foodstuffs and textiles and Cement. Icelands primary import partner is Germany, with 12.6%, followed by the United States, Norway, and Denmark. Currently, the largest trading partner countries are Germany, the UK, the Netherlands and the Nordic countries. The fishing industry is one of the most important industries. It provides 70% of export income and employs 6.0% of the workforce; therefore, the state of the economy remains sensitive to world prices for fish products.  [i]  The diversity of Icelands exports has, however, increased significantly in recent years, due to structural reforms and privatisation of state owned entities in finance and other sectors. Exports of manufactured products have been growing rapidly. Services now account for 36% of total export revenues while in 1990 the share was 26%. Icelands ratio of services to total trade is one of the highest among OECD countries. It is the Governments stated objective to provide Icelandic agriculture with a realistic opportunity to adapt to changes in its operating environment, to the benefit of farmers and consumers alike. The growth of international trade had been affected in the 1930s by the existence of tariffs and other barriers to international trade. To avoid such problems an agreement, the general Agreement of Trade and Tariffs, was concluded between 44 countries which included Iceland. Iceland joined GATT in 1968. GATT stated that an international agreement should be created which required a binding code of conduct for international trade; its main objective was the liberalization of world trade. Its principle was that there would be mutual benefits if international trade took place on the basis of non-discrimination and should be gradually reduced through negotiations. The liberalization for international trade gave Iceland confidence in their trade. During the period 2003-07, Iceland developed from a nation best known for its fishing industry into a country providing sophisticated financial services, but was consequently hit particularly hard by the 2008 global financial crisis, which extended into 2009.  [ii]   Self-protection and self-preservation have characterized Icelands foreign trade policy since its independence from Denmark. While Iceland is a highly developed country, until the 20th century, it was among the poorest countries in Western Europe. However, strong economic growth has led Iceland to be ranked first in the United Nations Human Development Index report for 2007/2008.  [iii]   TARIFF Iceland enjoys some of the strongest economic freedoms among all countries However; Iceland is very isolationist as regards to the import of farm products and licenses as well as state monopolies of imports (undergoing a dismantling). Some plant products such as potatoes and flowers are subject to seasonal limitations. Iceland implements high tariffs on agricultural products in order to protect the domestic agricultural sector. Tariffs on certain varieties of vegetables, e.g. tomatoes, cucumbers and bell peppers are significantly higher during the growing season to protect domestic greenhouse producers. Meat and dairy products, and potatoes are also protected by substantial duties. Animal feed can carry tariffs up to 55%. Over 90% of imports are not subject to import restrictions or duties other than the same value-added tax applied to domestically produced goods. Special excise taxes are levied on sugar and some sugar products, potatoes, and motor vehicles. Agricultural products remain the most heavily taxed. In March 1970, Iceland acquired full membership in EFTA. On 28 February 1973, Iceland ratified a trade agreement with the European Community (later named the European Union) leading to the elimination of tariffs on industrial goods. A law authorizing the establishment of free trade zones went into effect in 1992. Icelands trade regime underwent considerable liberalization in the 1990s with accession to the European Economic Area (EEA) in 1993, and the Uruguay Round in 1994. Current duty rates generally range from 0% to 30% ad valorem and the average weighted tariff is 3.6%. Some goods enter duty-free, such as meat, fish, and dairy products. Icelands average MFN applied tariff is 5.9%. A high percentage of tariff lines (70%) benefit from duty free treatment. The average MFN applied tariff rate  for agricultural products is 18.3% (WTO definition) compared with 2.5% for other goods.  [iv]   Iceland offers preferential tariffs on imports from 37 WTO Members under several free-trade agreements. Regional liberalization has advanced the most within the framework of the European Economic Area (EEA); nonetheless, the average tariff on products from EEA partners is still 3.2%, reflecting the exclusion of several agricultural products from duty-free treatment. A new Customs Law came into force on 1 January 2006 (Act No. 88/2005). According to the authorities, customs clearance for all importation aspects is computerized; electronic data interchange (EDI) covers 98% of the declarations of import and export firms. Customs clearance using EDI takes a matter of minutes, or a few hours if processed manually. CONCLUSION The occurrence of the financial and economic crisis left economists and policymakers wondering about its causes. A vast majority of economist and policymakers blamed the free-market reforms. At the beginning of 1990s, the government of Iceland implemented a set of free-market reforms under the leadership of David Oddsson. The companies own by the state were privatized. Financial markets were liberalized. The central bank was granted full independence in refining extensive inflation. Also, the corporate tax rate was cut from 52 percent in 1985 to 15 percent in 2008. When the financial crisis battered the stock market which led to the breakdown of the banking sector, many economists, analysts and policymakers immediately blamed free-market reforms as the foremost origin of the crisis. However, the empirical evidence and a macroeconomic analysis reverse this kind of thinking. The main origin of the financial and economic crisis that evolved in Iceland is a failure of monetary policy. In 2002, Iceland witnessed a mild recession that ended quickly. Ever since then, the central bank constantly failed to meet the inflation target. In response, it raised benchmark interest rate to double-digit levels. As a consequence of a stunning gap in interest rates, the Icelandic krona strongly appreciated. In such circumstances, high domestic interest rates discouraged the domestic banking sector from borrowing in domestic currency. With interest rates standing at double-digit levels, uncovered interest parity encouraged households, firms and banks to borrow in foreign currency. Iceland has been a part of the news lately because of the recent volcanic eruptions which took place on 15th April 2010 in the glacier Eyjafjallajokull in South Iceland. Day to day business in Iceland apart from the directly affected areas in the south has not been affected. The ash hurled into the atmosphere by the eruption has however caused serious disruption of air traffic due to which number of flights have been cancelled and also heavy losses has been incurred to the aviation sector, especially in UK.

Odyssey :: essays research papers

1. Does the Odysseus of these books seem different in character from the Odysseus of Books V – XII? If so, why? In the books 5 to 12 Odysseus’ character does not really undergo any transitions from one facet to another. Odysseus still carries the same attributes and traits right through to the end of the story. It is, however, evident in book 22, when Odysseus takes his revenge upon the suitors, that we see a totally different side to Odysseus’ character. Both these two points will be addressed in this answer. At the beginning of the Epic, Odysseus is presented as a very brave and heroic man who often thinks about his home, wife and son. He is a character that loves story telling, which also includes lying with the greatest of ease. Odysseus â€Å"the man of many resources† never changes in his ways throughout the rest of the Epic, as he remains constant to all his former attributes. In this way it is obvious that Odysseus is a very stable hero who acts and thinks in the same manner always, much like any human. However, there is a twist to this debate, as in Book 22 when he fights the suitors and prevails we do see a very different side to the character of Odysseus. In this book, Homer presents Odysseus to us as a very ruthless and un-forgiving character one who has everything set on destroying all he can. Odysseus could basically be described as heartless. We see this in particular when Odysseus â€Å"stuck Leodes full in the neck.† Leodes had submitted to Odysseus yet he was blessed with no hope of recognition as Odysseus had already decided upon the suitor’s fate. This is quite a change in the way that Odysseus is portrayed in all the other

Commentary on Act 1 of the book Translations by Brian Friel :: English Literature

Commentary on Act 1 of the book Translations by Brian Friel The opening paragraph of the play Translations tells us in great detail about where the play is set. It is set in a hedge-school, which was a disused barn or hay-shed. The opening of the play makes us see that there are two means of isolation. The language binds together the community and in this play we will see how differences in language split society. Manus is teaching Sarah to speak as the play begins. He is being very patient with her and he thinks that it is important to teach her to articulate, 'Come on, Sarah. This is our secret'. When you see how Sarah is finding it hard to speak English it makes you feel that she is the symbol for Ireland's backward position. Jimmy on the other hand represents the educated civilised tradition of old Ireland. He is a scholar, however Sarah is the opposite. She is a contemporary Ireland, as she has no voice to speak out. She has no capacity for taking part in the modern world. Sarah just wants to become part of the society. The way Manus is pushing Sarah to speak, for example, 'Raise your head. Shout it out. Nobody's listening'. You feel that Manus does not want Sarah to be a nobody in the community, so he is helping her. The way that Sarah acts around Manus makes you feel that she fancies him, 'Manus hugs Sarah. She smiles in shy, embarrassed pleasure'. Jimmy is reading The Odyssey. As he is a scholar he can read books in Greek. He sees himself as a person in the story, 'Sure look at what the same turf-smoke has done to myself!' This is not very scholarship like of Jimmy as he relates the text in a very un-scholar like way to himself. He also says things that are very sexually orientated, 'if you had a woman like that about the house, it's not stripping a turf-bank you'd be thinking about-eh?' and 'she can't get her fill of men'. Jimmy asks Manus whom he would pick out of Athena, Artemis and Helen. All of these people are characters from the book Jimmy is reading. This shows that Jimmy has a very limited view and conception of what he is reading. Manus asks Sarah whom he should pick; this shows that he considers her view to be important. The way Jimmy acts in this part of the play makes you feel that he is very intellectual but he is living his life in a book, he feels he is almost a Commentary on Act 1 of the book Translations by Brian Friel :: English Literature Commentary on Act 1 of the book Translations by Brian Friel The opening paragraph of the play Translations tells us in great detail about where the play is set. It is set in a hedge-school, which was a disused barn or hay-shed. The opening of the play makes us see that there are two means of isolation. The language binds together the community and in this play we will see how differences in language split society. Manus is teaching Sarah to speak as the play begins. He is being very patient with her and he thinks that it is important to teach her to articulate, 'Come on, Sarah. This is our secret'. When you see how Sarah is finding it hard to speak English it makes you feel that she is the symbol for Ireland's backward position. Jimmy on the other hand represents the educated civilised tradition of old Ireland. He is a scholar, however Sarah is the opposite. She is a contemporary Ireland, as she has no voice to speak out. She has no capacity for taking part in the modern world. Sarah just wants to become part of the society. The way Manus is pushing Sarah to speak, for example, 'Raise your head. Shout it out. Nobody's listening'. You feel that Manus does not want Sarah to be a nobody in the community, so he is helping her. The way that Sarah acts around Manus makes you feel that she fancies him, 'Manus hugs Sarah. She smiles in shy, embarrassed pleasure'. Jimmy is reading The Odyssey. As he is a scholar he can read books in Greek. He sees himself as a person in the story, 'Sure look at what the same turf-smoke has done to myself!' This is not very scholarship like of Jimmy as he relates the text in a very un-scholar like way to himself. He also says things that are very sexually orientated, 'if you had a woman like that about the house, it's not stripping a turf-bank you'd be thinking about-eh?' and 'she can't get her fill of men'. Jimmy asks Manus whom he would pick out of Athena, Artemis and Helen. All of these people are characters from the book Jimmy is reading. This shows that Jimmy has a very limited view and conception of what he is reading. Manus asks Sarah whom he should pick; this shows that he considers her view to be important. The way Jimmy acts in this part of the play makes you feel that he is very intellectual but he is living his life in a book, he feels he is almost a