The Tyranny Of Experts Economists, Dictators, And The...

The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor, a strong title followed by an effective introduction. William Easterly is a Professor of economics at New York University and Co-Director of the NYU development Research Institute also a previous World Bank Group employee. Easterly is an expert whose work The Tyranny of Experts is set to criticize experts. Easterly starts his book off with a story about twenty thousand local farmers in Ohio whose farms were burnt down and animals shot to death by soldiers to make room for commercial forestry, as they watched their family farms burn they were held at gun point by the soldiers and told â€Å"never come back† and â€Å"the land is no longer yours†. Of course there was a point to this story; if this had happened it would have caused political unrest and outrage among citizens it would have been in the media for days and covered worldwide. Although according to Easterly it did happen not in Ohio but in Mubende Uganda, and furthermore the incident was supposedly connected to a forestry project led by the World Bank who promised to investigate the issue but never did. In Easterly’s view this example is what is wrong with development; it is a top-down based approach that is technocratic and distant to the rights and freedom of individuals, all run by a tyranny of experts. Easterly then uses this story to introduce and support his main argument which is showed in this short passage among many: TheShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesMichael Adas for the American Historical Association TEMPLE UNIVERSITY PRESS PHILADELPHIA Temple University Press 1601 North Broad Street Philadelphia, Pennsylvania 19122 www.temple.edu/tempress Copyright  © 2010 by Temple University All rights reserved Published 2010 Library of Congress Cataloging-in-Publication Data Essays on twentieth century history / edited by Michael Peter Adas for the American Historical Association. p. cm.—(Critical perspectives on the past) Includes bibliographicalRead MoreOrganisational Theory230255 Words   |  922 PagesAssociated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk First published 2007  © Pearson Education Limited 2007 The rights of Joanne Duberley, Phil Johnson and John McAuley to be identified as authors of this work have been asserted by them in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical

The Minister s Black Veil - 1654 Words

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Business Law Assignment Free Essays

MANAGEMENT DEVELOPMENT INSTITUTE OF SINGAPORE IN COLLABORATION WITH UNIVERSITY OF BRADFORD DIPLOMA IN BUSINESS MANAGEMENT BUSINESS LAW ASSIGNMENT Presented by Name| FIN/IC Number| Participation Marks Awarded| Gerry Vicentius Sajuti| G1180480U| | Diana Ong Cabillan| G5304258P| | Cecillia Satryo| G1188819X| | ANALYSIS| /40%| RESEARCH| /30%| ORGANIZATION| /15%| PRESENTATION| /15%| Date of Submission: 16 OCTOBER 2012 Name of Lecturer: DANIEL THEYAGU DECLARATION This is to declare that this is our original work and we have not plagiarise any information from any other works. We understand that plagiarism is a serious issue and if found guilty our work will be rejected and possible we will be barred from the examination. We have verified all information given and have effectively referenced the sources. We will write a custom essay sample on Business Law Assignment or any similar topic only for you Order Now If after graduation it is found that our work is not original we stand a chance of having our Diploma revoked by the institution concern. Name: Gerry Vicentius Sajuti Signature: ___________________ Name: Diana Ong Cabillan Signature: ___________________ Name: Cecillia SatryoSignature: ____________________ CONTENTS PAGE QUESTION ONE DIAGRAM OF SINGAPORE COURT STRUCTURE SUB-ORDINATE COURT OF SINGAPORE * One of the two tiers in court system of singapore * There are 15 various of subordinate courts. HIGH COURT OF SINGAPORE * consists of the chief justice of Singapore and the judges of the high court * exercises supervisory and revisionary jurisdiction * bound by decisions of the court of appeal SUPREME COURT * two tiers of the court system in Singapore * consists of the court of appeal and the high court COURT OF APPEAL OF SINGAPORE * It’s court of final appeal * consists chief justice of singapore * The seat called supreme court building Appellate jurisdiction in civil and criminal matters under the principle of stare decisis court appeal are binding on the high court ; sub-ordinate court Essay on Question One A 15 years old teenager will be convicted in some minor cases despite of his reasoning. In the classic situation,in which the police first obtain a confession,discover some other evidence,while in the contrast all the decision will be de pend on the judge of the court. Sometimes to prevent unfairness and hold the consistency,judges will use stare decisis which are bounded by higher court’s decision depend on the similarity of cases situation. If the young teenager case get the same situation as previous case,it has a big possibilty for the judge to give the same decisions. Criminal and Civil Jurisdiction of the Court of Appeal In Singapore,the highest court is the Court of Appeal that only implements the appellate jurisdiction in civil and criminal matters. In civil it usually begins from the High Court. You can have an appeal when the High Court judge is on leave,or when the amount or value of the cases is below $25,000. The Court should only accept evidence that was passed by the court below however new evidence should pass by on special ground. When it comes to Criminal matters,the Court of Appeal cannot hear an appeal when the orders were already made by the High Court from the Subordinate Court except when it exercise original criminal jurisdiction in the latter part. When the High court already made a decision to a convicted person,the Court of Appeal may permit the person to have an appeal if it believes that it has a reasonable doubt and the sentence should be reduced. Criminal and Civil Jurisdiction of the High Court In Singapore,the High Court is the lower division of Supreme Court that implements the appellate and original jurisdiction in civil and criminal matters. The high court has power in any written law relating to divorce,bankruptcy and matters of admiralty. In implementing appellate civil jurisdiction the hearing should come from the District Courts,Magistrates’ Courts and other tribunal. When it comes to permitting for an appeal,it should be approved by one of the Court above where the amount does not exceed $50,000. In appellate criminal jurisdiction, the criminal cases came from the District and Magistrates’ Courts. The High Court will not overturn the judgment that has been made unless the law is wrong or circumstances are inadequate. In this situation the Court should follow some orders like reversing the decision or enhancing the sentenced that was given and the rest. The jurisdiction of the various divisions of court in the Subordinate circuit Subordinate court is one of the two tiers in court system of singapore beside of supreme court. There are 15 various of subordinate courts. Community Court To prevent and reduce the incidence of crimes and to ensure that those suspected,accused or convicted of crimes is the goal of Community Court. Cases that has been settle by community court e. g. ike selected offenders with mental disorders,family violence cases,those below 21 years accused of theft, and etc. Family Court Family court is legalised on 1st march 1995,which is contributed in settle family-related disputes. Family court is now unified court,dealing with all family proceeding in Singapore,Philosophy of the Family Court is to strenghten family ties and preserved. Coroner’s Court Coroner’s Court carried out for a sudden death such as accidents on the highway,in a jail cell,and suicide. Basicly,the Crime Forensic team analyze the death body of victim and report the result to the court. Later,the trial judge’s decision will result in the stated cause of death : are pure death, by accident, or open to further investigation. Neighborhood Court Treatment for cases occurring within family dealt by Neigborhood Court. The cases handled include family violence,disputes within the scope of the community,attempted suicide,law violations even animal cruelty. Traffic Court On the highway frequently found violations caused user negligence from the mere breach of signs to accidents causing casualties that is handled by the Singapore Traffic Court after receiving reports of violations. The violations include drunk driving or traffic violations by the Land Transport Authority or the traffic police declared there was no other way that can be taken for that incident. Night Court Offenders who are employee so they can attend the hearing after working hours,Singapore has Night Court for that reason. The court was held on weekdays beginning at 6 pm. There are two division of night court,Court 26N for issue noticed by government’s departments and Court 25N for traffic violation. Bail Court Literally bail is a guarantee on a case,so that a case can be suspended with pay administration with a certain amount of money. In the bail court the defendant have to pay a sum of money that will go into the cash bail with respect to certain conditions and by the affirm of the Chamber Magistrate,the defendant can be released. Juvenile Court The Juvenile Court only assumes jurisdiction over children below 14 and young person between 14 until 16 years old. So the offender of the case must below 16 years old when h/she is first charged in the Juvenile Court. If it’s above of it Juvenile Court will relinquishes its jurisdiction. Mentions Court There are two division of Criminal Mentions Court one deal with District Arrest Cases(DACs) and Magistrates Arrest Cases(MACs). Mention Court usually get ready for prosecution to charge an accused person,no longer than 2 days after his arrest and remand. Filter Court Filter Court as know as holding court which filter cases into other trial court. Beside deal with disposal enquiries,it also deal about night court cases where the accussed person claimed trial and some minor cases that require up to a day trial. Civil Court Most of civil court defendant got fined instead of jail. Lawsuit that hold by civil court include a range of areas e. g. for landlord-tenant conflicts,credit card payment disputes,breach of contract for accidental compensation disputes etc Centralised Sentencing Court By some specified cases,The judge will sentence the offender has plead guilty. District Court The penalty of district court may be imprisonment of not more than 7 years,a fine of approximately $ 10,000 flogging up to 12 strokes, or reformative training. District court also handle other cases such as misuse of drug,corruption,company,and security industry. Magistrate Court Court that handling case that punishment less than cases in district court,called Magistrate Court. It handling the case that the sentence less than 3 years. The sentences can be prisoned for no more than 2 years,fine less than $2,000,caning up to 3 strokes. This court also have authority to handle common gaming house,film,miscellaneous offence cases. Criminal Court Penalty of criminal court may be include both jail and fine for a sum of amount. Cases that handle by criminal court e. g. for corruption,immigration,employment of illegal foreign worker etc QUESTION TWO BUSINESS ENTERPRISE FEATURES ESSAY PART 2 PROCESS AND PROCEDURE Step1 Company Formation Before we’re going to register our company,first of all we must have a company formation. Company need a name that belongs to their trade sign that belongs to themselves, the name must be approve before incorporation of company in Singapore occur. Beside of it,we need to fulfil for directors,shareholders,secretary,paid-up capital,registered address and taxation Step2 Name Approval To set up a company,it must be approved first by filling the application with company registrar. Generally company name is being rejected/approval notification through in less than 1 hour unless it got some similarity with other registered name. To make this step faster at least you must not have identical name to any existing name of company,doesn’t infringe with any trademark,is not obscene or vulgar,is not already reserved. An approved name will be reserved 60 days from the date of application. Step3 Singapore Company Registration Once the name has been approved,approval from company registrar will also be approved in few hours assuming that incorporation documents are ready and have been signed by the directors and shareholders of the company. Some cases will delay the incorporation procedure if the director or shareholder of the company come from certain nationalities,but it seldom happen. In such case,authorities will ask for some additional question. For a private limited company need to pay S$ 300 for registration fee. Step4 Goods and Service Tax Registration GST tax is also known as Value Added Tax (VAT) or Sales tax. If you company is GST registered,you need to charged for 7% to your customer from the price of goods and services you provide and in turn this amount to authority. GST registration is not mandatory if your company’s annual turnover does not exceed S$1 million. Step5 Singapore Business Licenses You need to obtain a business license or not is depend on your company activities after you have incorporate your company but before you can commence your business operations. There are few business need to obtain the licenses e. g. for travel agencies,financial services, import/export of goods and restaurants Step6 Registration Document Issues The company registrar will send an official email confirming the incorporation company that include company registration number and certificate of it. It will be charged for S$50 for getting the hard copy at the following day (hardcopy is not being issued in singapore) A business profile of the company can be obtained from the Company Registrar by making a request online and paying a small application fee. Generally, the document (a PDF file) is available for download within an hour of the request and contains company name,registration number,incorporation date,principal activities etc Step7 Annual filing requirements for Singapore companies The Companies Act dictates certain annual filing requirements and formalities, once your company has been incorporated. ESSAY PART THREE Manufacturing food and beverages is one of the everlasting business that can be do by some entrepreneur. It is very difficult to a food and beverages company become bankrupt,because everyday people need any kind of food and drink,for their meal or just for snack time,that’s what makes the company continues to manufacture their products regularly, without fear that the products not sold or foul. The important things to start this kind of company and compete with its competitors in the same field is just the innovation that the company can give to their products that can attract consumer to buy their product. Private Limited Company become the better choice for this kind of business,because in Private Limited Company,they just have less than 20 share holders in company, even usually only about 3-5 people so as not to split a lot of the number of shares, because it will have an impact on the amount of dividen to be gained per person. This form of business make the company easy to develop,because not many hands meddling in the decision-making problems. In the other hand,the profit that company can gain from food and beverages is very high,because the raw materials for food is very cheap and the price could soar exponentially when the raw material is processed so attractive that has marketability. Indeed, the pattern of this kind of business, the cost of the company set up is very big, because we need each cost for land, raw materials, and to employ the employee. However this is the essence of this kind of business itself, each shareholder in the company is required to use existing capital as well as possible with the expectation that the future will gain more trade which in business terms is the return on investment. Therefore, when we talk about the profits, with such a large, the dividends to be gained would be very big for each shareholder. Moreover,for the developing of company, very easy to use the money from the profits earned for research, product development, adding new areas of business. Entirely it depend on how the shareholders’ meeting decided to pay dividends to shareholders or hold it and included as cash for capital expenditure. For the management area, with less number of individuals who join in the shareholder, make it easier for companies to work professionally, because often when many shareholders -the personal shareholders, not through the stock market- which mostly are entrepreneurs, trying to put those beliefs on the board of directors or corporate staff . Sometimes it makes management of work not in accordance with the directives f the shareholders’ meeting, but rather subject to the people who put them in that position, so that the special interests are often saddled to the person. It was the worst possibility of many businessmen who joined in management Related to the law, all things relating to the company’s very easy to handle. Company is a legal entity. With regard to the loss suffered by the company, if the company suffered a loss, then the bear is not a personal, but overall the company was sentenced to, for example experiencing bankruptcy. The company also will not stop operating when one of its shareholders resign or died, because by law, it will be inherited by the heir or other appropriate policy decisions made together. In addition, the form of a company like this, we can easily develop food and beverage products at once with just one company name that in there will be divided into several divisions related, so it does not need a lot of company name to classify each of our products. MISLEADING QUESTION THREE This advertisement is misleading because it can’t immediately delete or heals a skin problem by one treatment, it has steps to be followed. Aside from it, they offer the iPhone 5 if they go to the clinic to make the consultation and treatment that can only be avail by new customers with skin problems. They also wrote term and conditions require to get free treatment in small size below of the advertisement. UNILATERAL OFFER UNILATERAL OFFER This advertisement include in ‘Unilateral Offer’ because they clearly detached all the information about the stuff they sell include the fixed price with seen able size in the red shape without further bargaining needed. Beside of it, ‘everything priced to clear’ means the price fixed until out of stock in 4 days from the day newspaper published. They even stated all the places we can find courts to buy those stuff without term and condition required for everyone. Invitation to offer Invitation to Offer This is an invitation to treat advertisement,because this advertisement is not clear. They just give the rate price for each destination,and the price also started with word ‘from’ that mean the price is not the fix price and need further negotiation with the customer to meet the agreement for the price that benefit each other. They also don’t give the due date of the promo,so it very uncertain and customer need to check it periodically. QUESTION THREE PART THREE ADVERTISEMENT OF TRUE OFFER FOR SALE!!! SECONDHAND BAKERY OVEN For S$1500/ not negotiable Age: 5 months old Colour: Silver For those who are interested you can call me at this number: 85986051 Or via email at dianacabillan@yahoo. com This is an advertisement called unilateral offer means anyone can buy this bakery oven. One reason why this is a true offer is, the intention of the party is clear and it’s stated there the information about the oven like the age, and colour in the price of S$1500. Aside from this, it also stated there that the price of the oven is not negotiable. ADVERTISEMENT OF INVITATION TO TREAT DOradora Pte. Ltd Jurong point #01-16 tel. 63970989 ipod case Fr $12 cup cake Fr $3 cake Fr $39 Hurry come and grab all about doraemon start Fr $3 Fr $399 This advertisement belongs to invitation to treat because it don’t stated clearly what’s the specific of computer stuff they sell and they also invite us to buy their thing with the price that needed for further bargaining (not fix yet),it attached for word ‘from’. Not all commercial there for $3, it means for the cheapest thing like doraemon cupcake start from $3. REFERENCE http://en. wikipedia. org/wiki/High_Court_of_Singapore http://app. subcourts. gov. sg/subcourts/page. aspx? pageid=53865 http://app. supremecourt. gov. sg/default. aspx? pgID=43 http://en. wikipedia. org/wiki/Court_of_Appeal_of_Singapore#Appellate_civil_jurisdiction http://en. wikipedia. org/wiki/Judicial_system_of_Singapore#Ranking http://app. subcourts. gov. sg/Data/Files/File/InforBooklet_Brochures/Brochure_Crime_CommCt. pdf Introduction to Business Law in Singapore Ravi Chandran Singapore Business Law 2nd ed. Benny S Tabalujan http://www. acra. gov. sg INDIVIDUAL GROUP MEMBER CONTRIBUTION | PART I| PART II| PART III| GERRY VICENTIUS SAJUTI| * Diagram * Subordinate Court| * Diagram of features * Diagram of disadvantages ; advantages * Explanation of the business enterprise| * Invitation to Treat advertisement * Explanation of the advertisement| DIANA ONG CABILLAN| * Criminal and Civil Jurisdiction of Court Appeal * Criminal and Civil Jurisdiction of High Court| * Disadvantages and Advantages * Diagram of the process and procedure of business| * Misleading Advertisement * Explanation of the advertisement * Create and Explaination of own example of True Offer| CECILLIA SATRYO| * Diagram * Subordinate Court| * Features * Essay of process and procedure of business| * True Offer advertisement * Explanation of the advertisement * Create and Explanation of own example of Invitation to Treat| ACKNOWLEDGEMENT Our heartiest gratitude and respect to our lecturer,  Mr. Daniel Theyagu for his attractive class lecture and helpful manner to guide us in improving our submitted assignment. We are also thankful t o those who help us while doing the assignment We think that : GOD HELP THOSE WHO HELPS THEMSELVES As we see this sentence is very smalll but it has a very vast meaning. It means that when a person help himself then God also support him for doing the work. We would like to dedicate this assignment to our parents and lecturer and to those entire people who supported us do this assignment. How to cite Business Law Assignment, Essay examples

Demonetization in India Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Demonetization in India. Answer: Demonetization in India On 8th of November, 2016, Mr. Narendra Modi, the prime minister of India announced on live television at 8 pm news that left the whole could try in shock. The declaration said that the country's 500 and 1000 rupee notes shall no longer be valid come 9th November, 2016. Leaving millions of people in awe and shock, the prime minister took some really bold steps. The strong decision of Modi was hailed by many people, while poor were shocked by the move(Jain 10). While people believe that this had been done in order to curb corruption, bribery and black money in the country, economists say the same was done to avoid tax evasion. A country with a population of around 1.3 billion was left helpless with people unable to figure out where to hide their black money. According to statistics, only about 1% of this population pays taxes in the country. However, after this decision of demonetizing 500 and 1000 rupee notes, more people shall have to pay taxes. Even though this moved caused a lot of irritation and agitation amongst the common public, most of the people do realize that this step shall have positive implications in the long run. Through this many people in India were forced to go with the digitization methods for making their payments that included debit cards, bank transfers and e-wallets. (Shepard 5). According to the money market, the economic situation in the country changed quite quickly. The money market is basically a short term debt market that helps in dealing with different money market instruments. A lot of the people were left with no option but to shift to more advanced methods of cash payments and transactions such as online transfers, net-banking as well as using debit and credit cards. It was observed at the week end of 9 December 2016, that the currency with the public in the total money supply that further reduced to 39.1% (Srija 11). This is accordance with RBIs Weekly Statistical Supplement. Between the time periods from 28th October 2016 to 9th November 2016 there was a sharp decline of about 54% of the total currency in the country which accounted for 9204.3 billion rupees. All of the old notes were no longer valid and in great number. However, the government did not have enough new notes to supply to the population of the country. As seen in the graph below, d ue to this the money supply moved left. In response to this, the money demand shifted towards the right. This was due to the fact that there wasnt enough cash available to the people for them to be able to purchase things and so the demand for money or cash increased. In the long run however, people are now using more digital and cashless ways of spending their money make and receive payments and buy and sell things. Therefore, in the long run, the demand for cash has decreased. Image source: https://study.com/cimages/multimages/16/demand-decrease-shift-graph.jpg The above graph shows how a decrease in the money supply causes the demand to shift to the right. Bibliography Anonymous.20. "Money Market Definition." 23 November 2010. Economy Watch. 28 November 2017 https://www.economywatch.com/market/money-market/money-market-definition.html. Jain.10, Ravi. "Indian Currency Demonetization: Advantages and Disadvantages." 7 September 2017. Good Returns. 28 November 2017 https://www.goodreturns.in/classroom/2016/11/indian-currency-demonetization-advantages-disadvantages-517945.html. Shepard.5, Wade. "How India Is Surviving Post-Demonetization." 29 July 2017. Forbes.com. 28 November 2017 https://www.forbes.com/sites/wadeshepard/2017/07/29/how-india-is-surviving-post-demonetization/#132b06ca1164. Srija.11, Ananya. "Money Market After Demonetization." 7 January 2017. ies.gov.in. 28 November 2017 https://www.ies.gov.in/pdfs/money_market_after_demonetisation_Jan_2017.pdf.

National Economic Policy

Policy Mix to Increase Output without Changing Interest Rates It is the desire of policy makers to boost economic growth in all ways possible. One of their main problem is always how to increase economic output while maintaining interest rates as low as possible because high interest rates discourage some components of aggregate demand especially investments.Advertising We will write a custom essay sample on National Economic Policy specifically for you for only $16.05 $11/page Learn More The fiscal policy uses the government resources to alter aggregate demand thus, influencing economic performance of a country (Arnold 2010). To raise output, policy makers will need to implement expansionary fiscal policy. This means that the government can either choose to reduce the amount of tax that citizens have to pay, increase it purchases or increase its level of transfers. The effects of taxes cannot be expected with certainty since it is not automatic that whe n people’s disposable income increases their spending follows suit, because others may choose to save instead of spending. When the government increases its level of purchases then, the level of planned expenditure in the whole country increases thus, demand for goods and services increases. Increases in demand means that suppliers can sell more commodities than they are currently selling therefore suppliers increase their output. On the same note, when government chooses to reduce the amount of taxes that are levied, people will have more disposable income and they are likely to increase their spending thus increasing aggregate demand. This will give suppliers incentive to produce more thus increasing output, which will in turn increase the average levels of income. It should be noted that, the increase in output is always more than the increase in government spending due to government multiplier. Expansionary fiscal policy makes the IS curve to shift to the right due to inc rease in aggregate demand which in turn increases output (Mankiw 2011). Regrettably, as the IS curve shifts to the right it is not the output only that increases but also interest rates and because policy makers do not want any effect in the interest rates the LM curve must be induced to shift to the right. If expansionary monetary policy is implemented, for example by increasing the amount of money in the economy, the LM curve will shift to the right (Froyen 2008). When the amount of money in circulation increases, the supply of money exceeds its demand and to boost the demand for money, banks have to reduce the interest rates thus making it cheaper to borrow.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The graph above shows the effects of expansionary fiscal policy as well as monetary policy on the IS LM curve. If the economy is initially in equilibrium at point A with interest rates i1 and output y1. Implementation of expansionary fiscal policy will cause a shift of the IS curve from I1S1 to I2S2 thus, changing the equilibrium from point A to point B with interest rate i2 and output y2. An expansionary monetary policy shifts the LM curve rightwards from L1M1 to L2M2 increasing output to y3 but reducing interest rates back to i1 and setting the new equilibrium at point C. Therefore, through mixing expansionary fiscal and expansionary monetary policy, policy makers can increase output without increasing interest rates (Gordon 2008). Elasticity of Money Demand and its Effects It is paramount to note that the quantity change in the demand for money is subjective to the elasticity of demand for money in relation to the factors that affect the demand for money. Income elasticity of money demand is the percentage change in the quantity of money demanded as a result of unit change in income levels of people. Usually, people who have higher income levels tend to have h igher expenses and thus demand more money for their transactions. However, it has been noted that the increase in real money demand is less proportional to increase in real income levels. Alternatively, interest elasticity of money demand is the quantity change of demand in money caused by a unit change in interest rates. Interest rates represents the opportunity cost of holding money therefore, as they increase it becomes expensive to hold money. Consequently, as the interest rates increases, rate of return on securities increases and people find it profitable to invest in securities instead of holding money. Accordingly, as interest rates increase, nominal demand for money decreases because people prefer to hold non-monetary assets as opposed to cash money.Advertising We will write a custom essay sample on National Economic Policy specifically for you for only $16.05 $11/page Learn More Expansionary fiscal policy increases output and therefore, income of the people while at the same time it influences increase in interest rates. It will therefore be more effective if the income elasticity of money demand exceeds interest elasticity of money demand (Keynes 2006). This is because the quantity increase in demand for money to be spent will be higher than the quantity decrease in demand for money to be invested and thus the overall effect will be increase in output. It should be noted that, the final quantity increase in aggregate demand and hence, the increase in output is highly influenced by the quantity decrease in investments as a result of increase in interest rates. The increase in output due to expansionary fiscal policy causes an increase in interest rates which is the cost of investments (Harford 2012). This in turn leads to decrease in the amount of investments thus, reducing the quantity change in aggregate demand, a process referred to as crowding out effect. If interest elasticity of money demand exceeds income elastici ty of money demand, the crowding out effect is large to the extent that it might completely eliminate the increase in output resulting from expansionary fiscal policy (Baumol Blinder 2011). The graph above shows IS LM curve of an economy. Expansionary fiscal policy shifts the I1S1 curve to I3S3 increasing both output and interest rates. The increase in interest rates makes investment expensive while non monetary assets become cheap. This leads to decrease in the level of private consumption and specifically investments thus, causing the IS curve to shift leftwards from I3S3 to I2S2 thus reducing the actual output from y3 to y2. It should be noted that, the leftward shift due to increase in interest rates is high when the interest elasticity of money demand is higher than the income elasticity of money demand, and in such a case it reduces the multiplier effect of fiscal policy. Therefore, the crowding out effect determines the quantity change in output due to expansionary fiscal p olicy and the higher it is the lower the quantity increase. Fiscal Policy under Fixed and Floating Exchange Rate System By operating a fixed exchange rate system, the government is ready to maintain exchange rate at the fixed level using all mechanisms that are available. When an expansionary fiscal policy is pursued in an economy where exchange rate is fixed, it leads to different results compared to a situation where the interest rates are floating (Tucker 2008). Let us first look at a situation where a country operates a fixed exchange rate system and the capital is perfectly mobile.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Expansionary fiscal policy will lead to increased aggregate demand hence, shifting the IS curve from I1S1 to I2S2 as shown in the graph above. This will exert pressure on exchange rates to go up, but since the central bank is determined to maintain exchange rate at the current level E*, it increases money supply through open market operations. Increase in money supply causes the LM curve to shift to the right from LM1 to LM2 therefore pushing aggregate incomes upwards from y1 to y2. Since there is perfect mobility of capital, the capital can easily be transferred to production of commodities whose demand is high. Let us now consider the outcomes of expansionary fiscal policy in case of a floating exchange rate. Expansionary fiscal policy shifts the IS curve rightwards from IS1 to IS2 as shown in the graph above. As a result, capital inflow increases which in turn increases demand for local currency therefore, increasing exchange rates from e1 to e2 while the aggregate income remai ns the same. Therefore, under fixed exchange rate system expansionary fiscal policy has greater effects because it triggers expansionary monetary policy thus, increasing aggregate income even further. It is important to note that, since exchange rate is maintained constant, the problem of crowding out effect is minimized. References Arnold, RA 2010, Macroeconomics, Cengage Learning, Stanford. Baumol, WJ Blinder, AS 2011, Macroeconomics: Principles and Policy, Cengage Learning, Stanford. Froyen, RT 2008, Macroeconomics: Theories and Policies, Prentice Hall, Upper Saddle River. Gordon, RJ 2008, Macroeconomics, Addison-Wesley, Boston. Harford, T 2012, The Undercover Economist, Oxford University Press, Oxford. Keynes, JM 2006, The General Theory of Employment, Interest and Money, Atlantic Publishers, New Delhi. Mankiw, NG 2011, Essentials of Economics, Cengage Learning, Stanford. Tucker, I 2008, Economics for Today. Cengage Learning, Stanford. This essay on National Economic Policy was written and submitted by user Marshall Phelps to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Modernism Literature essays

Modernism Literature essays Modernism is the social and literal ideal that developped during the period after World War One. Alienation, Negativism, Ambiguioty, and glorifications of the past are all characteristics of Modernism. Great examples of modernist literature are The Metamorphosis, Notes From the Underground, and The Love Song of J. Alfred Prufrock. In, The Metamorphisis, Gregor Samsa awakes one day to find himself transformed into a large vermin. This is an example of Negativism. Whether he actually turned into a bug is irrelevent; what is important is to understand how he percieved himself and those around him. In the beginning of the story, Gregor felt alienated. Gregors metamorphisis occurred because he percieved himself in such a negative way. His perception manifested itself, and changed Gregor into an insect. After he became a bug, he came to the understanding that his current form, although horrid, was not nearly as bad as his previous life. In this form he didnt have to work; he could stay home. This alienated Gregor even more, and made him feel trapped. While this book was written long before the early 19th century, it is a perfect example of modernist literature. In the book, Notes From the Underground, the underground man himself is a representation of modernist ideals. Throughout the book, the Underground Man is critical of the world around him, he percieves the rest of the world as being corrupt and greedy. When he tries to reassert himself into society, hes met with great blunders. He thinks the old ways of life are better, back when a man couldnt be corrupted as easily as they are now. Such glorification of the past is a characteristic of modernism. In the poem The Love Song of J. Alfred Prufrock by T. Eliot, Prufrock is on his way to tell a girl how much he loves her. But on his way, he thinks about all the bad things that could happen if he told her; not once did ...

Website Migration Project Term Paper Example | Topics and Well Written Essays - 4250 words

Website Migration Project - Term Paper Example To ensure the success of this project, the execution of the project is done by strictly following the system development life cycle (SDLC). System development life cycles ensures that the user and functional requirements of any project are met. Using the system development life cycle, there is standardization and structuring of all process involved in the system development. Using these standardized and structured processes, the development of any given system in stages which follow the route of feasibility study, planning of the system, development of concept, designing, development of the system, system integration, system testing, and finally system deployment and maintenance are achieved. This paper is aimed at providing a viable solution that will facilitate moving a website from external servers to internal servers with minimum downtime, redesigning of the existing website to incorporate more functionalities, designing a viable plan that can be used as a disaster recovery solution in cases of future failures. The process employs all the phases of system development life cycle to ensure efficient execution of the project. System development life cycle phases’ use is to facilitate execution of the project in the shortest time possible using a structured manner, despite the fact that web development process is unstructured. The project will focus on the legibility and coherence of the website. Coherence ensures users of the website are able to navigate through the site with ease, and also, the users are able to understand the content of the website, i.e. understandability. The websites legibility focus on making the website distinctive and memorable to the users. Moreover, the systems scalability, robustness and modifiability are addressed. Putting together all design purposes and the above stated factors, the structured development process will follow a defined route as outlined below. From the description given