Money and Banking Essay Example | Topics and Well Written Essays - 1750 words

Money and Banking - Essay Example One of the shortcomings of an economy with a fixed exchange rate is that monetary policy cannot be utilized to stimulate the economy, although an economy with a floating exchange rate like the U.S. can employ monetary policy to stimulate economic growth. The macroeconomic shock, interest rates in the domestic economy fluctuate with respect to foreign interest rates. For instance, when there is an expansionary monetary policy, it will cause interest rate to decline in the domestic economy, as a result, domestic investors will have an opportunity to invest in the foreign market that will cause a capital account deficit and cause the exchange rate to decrease. The monetary growth causes a raise in domestic income that in turn causes an increase in imports and a current account deficit. When the domestic money supply increases in the foreign market because of an increase in imports and net capital outflows, it leads to depreciation of the domestic currency due to the weak association between supply and demand. The decline in the exchange rate will cause domestic capital to be attractive for foreign investors and the domestic economy will start to draw foreign investment as the exchange rate declines until the BOP equals zero that lead t o interest rate parity . 1b The BOP factors that affect the supply for domestic currency in the foreign economies are a raise in imports and an increase in capital outflows in search of higher rates of return. These factors lead to a BOP deficit in the domestic economy and are frequently affected by expansionary monetary policy that causes a decrease in the domestic interest rate. 1C Increase in exports and an increase in capital inflows where foreign investors are in search of higher rates of return in the domestic economy are factors that affect the demand for domestic currency in the foreign economies. In addition, if the domestic economy cause an increase of exports, it indicate that domestic goods are relatively less expensive compared to foreign goods. Consequently, foreigners will demand more domestic currency as they import compared to domestic exports. When, the domestic rate of returns is more in respect to foreign economies, there will be a raise in demand for the domestic currency, as foreign i nvestors will require domestic currency to buy domestic capital. 2A Based on flexible exchange rates and relatively responsive capital flows, we can establish that any fluctuate in the capital financial account will be greater in magnitude than fluctuate in the capital account. Thus, the EE curve will be flat compared to the LM curve. A fiscal expansion causes IS curve to shifts up and to the right that lead to increase of interest rates and output (y) .The increase in interest rates lead to increase of inflow of KA and a demand for domestic currency in magnitude than the CA deficit affected by increase in revenues that in turn increases imports relative to exports. This causes a BOP surplus that causes the exchange rate to appreciate and lead to shift of the EE curve up and to the left. The exchange rate will appreciate to the point where the BOP comes back to equilibrium. When exchange rate appreciates, the rate of return on domestic capital gets smaller due to diminishing margina l returns, which will reduce the rate of capital inflows to the domestic econ

The Energy of the Future Essay Example for Free

The Energy of the Future Essay Alternative fuels are simply non-petroleum energy sources that are used to substitute petroleum products in supplying energy for engines while providing environmental benefits (DOE, 2005). The search for these fuels is the current trend since it is projected that fossil fuels, the source of petroleum products, would run out in the near future. Year 2005 was predicted as the peak of world oil production, after which, the world oil production would decline. By 2030, it is predicted that world oil production would be the same as the production before 1980; the only difference is that the population is higher thus the demand would be greater. This would then mean that there would be higher prices of oil products; thus the search for alternative fuels is essential (Life After the Oil Crash). In addition, the degradation of the environment calls for these alternatives to impede the possible series of catastrophic events One alternative fuel being widely promoted is the Biodiesel. It is a renewable fuel made from agricultural sources such as animal fat and vegetable oils. This is produced through the transesterification of the base oil by reacting it with an industrial alcohol and a catalyst to convert it to a fatty acid methyl ester (FAME) fuel. In its pure form, also known as B100 or neat diesel, it is capable of powering an ordinary diesel engine, however, some blends are also produced such as the B5 (5% biodiesel and 95% diesel) and the B20 (20% biodiesel and 80% diesel). Most present diesel engines are compatible with running on biodiesel, however, manufacturer specifications should still be considered to avoid warranty violations. In terms of performance, biodiesel is comparable with ordinary diesel; though it has 2-8% less fuel economy, it gives better engine performance and lubrication (US EPA, 2006). Another alternative being promoted due to its potential and environment friendliness is the Hydrogen and the Fuel cell. Hydrogen is the most abundant and simplest element on earth; however, it is usually bonded with other elements to form other things such as water (H2O), hydrocarbons (CH4) and other organic matter making it unavailable (EERE, 2007). On the other hand, fuel cells are electrochemical devices that produce electricity by combining hydrogen or other hydrogen-containing fuels and oxygen. In contrast to batteries, fuel cells are different since it requires a continuous source of external fuel (OEE, 2007). The electricity produced will be used to power the engine. However, hydrogen is bulky and has a small amount of energy per volume; this means that storage techniques of this fuel are critical to its success. But still, hydrogen as a fuel is efficient since it is clean burning and fuel cell vehicles have a potential higher efficiency compared to gasoline vehicles (about 2-3 times more) (EERE, 2007). Another alternative fuel is the electricity. Electric vehicles have long been in use by some countries; however, it gained low popularity due to its disadvantages like higher cost, the size and weight of the battery, short distance covered and long charging time. Nevertheless, the search for alternative fuels has shifted the attention back to electric cars due to its environmental friendliness and its potential to reduce greenhouse gas emissions. Researches are on their way to develop the battery system of the vehicle such that lighter and smaller batteries that could enable the car to reach almost 300 kilometers on one charging and last for 5-10 years could power the vehicle at acceleration and speeds similar to gasoline powered vehicles (OEE, 2007). The 2008 Tesla Roadster Electric Vehicle is a very interesting vehicle. It runs purely on electricity, can reach 60 mph in 3. 9 seconds, has a 135 mpg equivalent, covers 220 miles per charge, consumes less than $0. 02 per mile and has a built-in battery charging system that can be plugged into an outlet (Tesla Motors, 2008). Though this car is very interesting, I would not opt to buy this because it is very limited and has a selling price of $109,000. I think these are the reason why there still few of these around; they are very costly and are very limited. References Department of Energy. (2005). Alternative Fuels. Retrieved June 4, 2008, from http://www. doe. gov. ph/AF/Alternative%20Fuels. htm Energy Efficiency and Renewable Energy. (2007, November 20). Hydrogen. Retrieved June 4, 2008, from http://www. eere. energy. gov/afdc/fuels/hydrogen. html Life After the Oil Crash. Are We Running Out? I Thought There Was 40 Years of the Stuff Left. Retrieved June 4, 2008, from http://www. lifeaftertheoilcrash. net/ Office of Energy Efficiency. (2007, April 16). Fuel Cells and Hydrogen. Retrieved June 4, 2008, from http://www. oee. nrcan. gc. ca/transportation/fuels/hydrogen-fuelcells/hydrogen. cfm? attr=8 Tesla Motors. (2008). The 2008 Tesla Roadster. Retrieved June 4, 2008, from http://www. teslamotors. com/ US Environmental Protection Agency. (2006, October). Biodiesel. Retrieved June 4, 2008, from http://www. epa. gov/smartway/growandgo/documents/factsheet-biodiesel. htm

Explain the factors to consider when planning a safe, but challenging environment for children.

Explain the factors to consider when planning a safe, but challenging environment for children. Explain the factors to consider when planning a safe, but challenging environment for children. The environment plays a major part in children’s safety, learning and development. Not only the material objects within an environment, but the emotional and social environment accounts also. â€Å"The health and safety of the environment is essential to ensure the safety and well-being of the children and in creating an enabling environment. In an enabling environment, babies and children will feel emotionally safe and secure, and will develop and learn most effectively.† Health and safety is one of the most important factors to consider when a practitioner provides an appropriate environment for learning and development. All staffs should have a responsibility for ensuring health and safety in their environment at all time. All staffs should meet minimum requirements for space within the room environments and staffs ratios. â€Å"These requirements will initially be calculated by ofsted when the setting is first registered, and they will provide a maximum number of children allowed in setting at any one time. This will also be broken down into how many children can be present in any one room at one time, depending on the age of the children.† â€Å"Children learn and develop well in enabling environment, in which their experiences respond to their individual needs and there is a strong partnership between practitioners and parents and carers† (EY – Development Matters Document) Meeting staff ratios is important because this ensuring the safety of the children by making sure children can be safety supervised whilst in their environment. â€Å"Failure to meet these ratios could cause accidents or injuries, as staff members would find it difficult to care for and surprise a larger number of children. â€Å" â€Å"Children from birth to two years require 3.5m ² space per child, at least half of the remaining staff members must be qualified to at least a recognised level two child care qualification. Child aged two to three years old require 2.5m ² space per child, at least one practitioner must be qualified to level three. Children aged three and above require 2.3m ² space per child, at least on practitioner must hold a level three qualification.† There are major pieces of health and safety legislations that play a role on the provision of an environment and must be followed by all employers. Explain the practitioners’ role within the wider, multi –agency environment. The role of the practitioner within a wider, multi-agency environment is to value and recognise the importance of this wider network for children. â€Å"Valuing this wider network demonstrates respect for the individual needs and characteristics of the child and family and enables all members of the community to work together.† Wider community plays role in children’s development and learning. â€Å"When a child has been identified as having additional needs, other professionals are a vital part of their care learning and development and will work in partnership with practitioners within the setting.† â€Å"The role of the practitioner has been identified as important in the provision of an enabling environment for children, with the practitioner holding an important role in the wider, multi-agency environment.† Describe the regulatory requirements that must be followed when organising an environment for children in the early years. The regulatory requirements that must be followed when organising an environment for children in the early years is the process of identifying any additional needs a child may have early in order to organise the best possible care and intervention for the children. â€Å"Practitioner has concerns around any area of a child’s development†. â€Å"The employer has overall responsibility for ensuring that health and safety is implemented†. All staff is responsible for ensuring health and safety at workplace is observed. â€Å"The building must be appropriately maintained and be suitable for purpose†. The environment should be clean, safe and appropriate for everyone in the setting. All equipments must be used safely. Accidents must be recorded and reported. The act also provides protection for employees is personal protection for employees is personal protective equipment must be provided free of charge and employees should be given instruction on its use, a safe working environment must be provided, first aid facilities must be provided. â€Å"COSHH is the law that all employers must follow in regards to harmful substances. All workplaces use harmful substances and the COSHH regulations are in place to ensure the safe use and storage of these materials†. All staff must carry out a COSHH risk assessment this because to identifying the potential risk of explosive to any harmful substance. All staff must ensure safety for the children by ensuring high levels of security across their premises, doors at the setting should be locked at all times. â€Å"Practitioners also need to make sure that the toys and resources they provide to the children are appropriate for their age and stage of development†. Evaluate the effectiveness of the environment in meeting children’s individual needs. Every setting should work closely with parents and multi-agencies. All setting should be aware of the support and services that other agencies provide, practitioners will support parents/carers to access these services. As a practitioner I should know that whenever I prepare environment for children or young people, I must know it’s important to consider their age and stage of development. I also need to ensure that the experiences and play opportunities offered carer the areas of development outlined in the EYFS. I also need to consider whether the environment meets the needs of the individual children. I should know children develop at different rates. As a practitioner I should know that some children will need more challenging activities while others may need a different type of activity or different resources. I should observe individual children to see how they engage with the environment will help me to plan appropriately. The most important activities during the day, such as playing, eating, sleeping, washing hands and going to the bathroom. â€Å"Children need to explore equipment and learn basic knowledge through direct experience†. Children with disabilities should be given the opportunity to take risks in their own play. As for with other children this will enable them to develop their self-esteem and confidence. â€Å"It is often difficult for parents to allow children with physical disabilities or medical conditions, such as epilepsy, to engage in physical play or ‘rough and tumble’ activities for fear of injury or seizure. They may therefore need reassurance to allow their children to participate.† â€Å"The emotional environment extends further than the furniture and resources contained within a space, and looks at feelings and emotions of the children within the learning environment†. The indoor environment have an immediate effect for children, this is when they will spend a large amount of their time. â€Å"The indoor environment should support the many different types of play that will support children’s learning and development†. â€Å"The EY values children’s independence and encourages child-initiated play and active learning. This needs to be reflected in the environment by organising toys and resources at child height to encourage children to access resources they wish to explore†. â€Å"The outdoor environment holds equal value to the indoor environment and provides many opportunities for learning and development. The outdoor environment provides a new context for learning to take place within and provides new opportunities†.

Blood Diamond : Why Fiction is More Effective Than the Facts Essay

Blood Diamond: Why Fiction is More Effective Than the Facts When watching a movie that is allegedly based on a true story, it may not occur to some viewers that the movie does not necessarily represent the complete and absolute truth. The movie Blood Diamond was inspired by the true story of how the illegal sale of smuggled diamonds helped fuel the 1991 to 2000 civil war in Sierra Leone (â€Å"Sierra Leone†). In an interview with Foreign Policy Magazine, Edward Zwick, director of Blood Diamond, admits that â€Å"my first goal was to make a good movie, one that fulfills the obligations of any story, which has to do with characters and drama.† It is true that Blood Diamond uses glamorized fiction to cover up and sweeten the horrible truths for its audience, but what matters is how effectively the movie makes an emotional connection with its viewers. Hollywood filmmakers know what the majority of their audience expects: glamour and excitement throughout the film and a dramatic and emotionally satisfying ending. If it is to sa tisfy the expectations of this audience, and the expectations of the filmmaker and his backers to make a lot of money, the movie—at least this particular movie—cannot be a totally accurate and graphic depiction of what really happens with blood diamonds and their role in Sierra Leone’s civil war, because what really happens would not sell as well as the fiction. In the case of Blood Diamond, while it is important to look at the factual accuracy or inaccuracy of the what the characters represent, what matters more is why the fiction is more effective than the truth when it comes to getting the audience emotionally involved. Effective manipulation of the audience’s feelings through fiction may make the sympathet... ...58260>. â€Å"How to Buy: Diamond Facts.† A Diamond is Forever. De Beers Diamond Company. 18 November 2007. . â€Å"Lovette Freeman: A Personal History.† September 2006. Online video clip. The History Channel. 18 November 2007. . â€Å"Seven Questions: A Chat with Blood Diamond Director Ed Zwick.† Foreign Policy Magazine December 2006. 18 November 2007. . â€Å"Sierra Leone Civil War.† Wikipedia, the Free Encyclopedia. 17 August 2005. Wikimedia Foundation. 18 November 2007. . Voeten, Teun. How De Body?: One Man’s Terrifying Journey Through an African War. Amsterdam: St. Marin Press, 2000.

The Life of William Penn Essay -- American History

William Penn, most commonly known for the establishment of the state of Pennsylvania, could also be referred to as the first great pioneer of American liberty. His beliefs on equal rights and religious toleration not only contributed to liberty in the Old World, but in the New World as well. In a time when religions persecuted one another for their beliefs, colonists were stealing land from Indians, and women had little to no rights, Penn established a sanctuary free from the stereotypes that were common in that time in history. Founded by William Penn, Pennsylvania and the eventual city of Philadelphia still bear the marks of the advancement of religious tolerance still witnessed by society today. William Penn was born October 14, 1644 in London, England and spent most of his youth in that general vicinity. He was the oldest of three children, having a younger brother and a younger sister. â€Å"As the eldest son, Penn followed the usual path as heir to his father’s estates. Thus he was educated in the typical manner of the gentry, being sent to a private school and later to a university† (Geiter, 14). After being homeschooled until the age of 11, he began his formal training at Chigwell Academy near Wanstead in Essex, England. Penn attended several colleges throughout Europe including Oxford University and Lincoln’s Inn, a prestigious law school in London. William Penn’s education and law background helped round out his skills and prepared him to take his place in society but his eventual conversion to Quakerism prevented him from entering a political career as expected by his family. â€Å"While Penn did not follow the traditional route, by becom ing, for example, a member of parliament, he did become a major figure in English Politics† ... ...ter, Mary K. William Penn. Harlow, England: Longman, 2000. 14, 167. Print. Powell, Jim. "William Penn, America's First Great Champion for Liberty and Peace." Quaker.org. The Freeman. Web. 1 Mar. 2012. Patton, Allyson. "Brotherly Love Comes To Philadelphia." British Heritage 26.6 (2006): 43-48. MasterFILE Premier. Jstor. 20 Mar. 2012. Foster, Genevieve. The World of William Penn. New York: Scribner, 1973. 32. Print. Geiter, Mary K., and W. A. Speck. Colonial America: From Jamestown to Yorktown. New York: Palgrave Macmillan, 2002. 97. Print. William Penn Biography. N.p., 3 Dec. 2007. Web. 20 Mar. 2012. . Lingelbach, William E. â€Å"William Penn and City Planning.† The Pennsylvania Magazine of History and Biography , Vol. 68, No. 4 (Oct.,1944): 401. MasterFILE Premier. Jstor. 20 Mar. 2012.

Motorcycle Helmet Laws Essay

The NHTSA (National Highway Traffic Safety Administration) estimates that helmets saved 1,784 motorcyclists from death in 2007. If all motorcyclists had worn helmets, an additional 800 lives could have been saved. As an avid motorcycle operator, I have been in a few close calls of my own. Luckily for me, if something would have occurred, I would have at least been safer due to my motorcycle helmet. It is safe to say that thousands of lives could be saved each year by national adoption of universal helmet laws. From 1984 through 1995, helmets saved the lives of more than 7,400 motorcyclists. However, more than 6,300 additional deaths could have been prevented if all riders had been wearing helmets (tntrafficsafety. org). There are minor debates about one not feeling comfortable while riding with a helmet because of to the weight of it. However, manufacturers make carbon fiber helmets that have virtually no weight. On average they weight around two to three pounds. They are a bit more expensive than your average helmet. However, one can’t put a price on life. Safety should definitely be the underlying factor, especially since riding a motorcycle is already considered dangerous in itself. The analysis of fatal crash data from 2008 to 2010 showed 12 percent of motorcyclists in states with universal helmet laws were not wearing helmets, but 64 percent of riders were not wearing helmets in states with partial helmet laws and 79 percent weren’t wearing helmets in states with no helmet laws. According to CDC Director Dr. Thomas Frieden, â€Å"Increasing motorcycle helmet use can save lives and money. In 2010, more than $3 billion in economic costs were saved due to helmet use in the United States. Another $1. 4 billion could have been saved if all motorcyclists had worn helmets (www. ohsonline. com). † Annual cost savings in states with universal motorcycle helmet laws for motorcycle riders and passengers were nearly four times more per registered motorcycle than in states without them, according to a Morbidity and Mortality Weekly Report study. Annual medical, productivity, and other costs ranged from a high of $394 million in California (which has a universal helmet law) to a low of $2. 6 million in New Mexico (which has a partial law). Studies comparing hospital costs of helmeted and un-helmeted motorcyclists involved in crashed have found costs for un-helmeted riders to average $3,000 more than for helmeted riders. And, riders who don’t wear helmets are less likely to have health insurance, resulting in the cost of their care being forced on to taxpayers.. Not only does wearing a helmet save lives, it also saves the rider money. The financial burden for treatment and care of uninsured motorcycle crash victims is placed on the government and taxpayers. In 2005, Maryland estimated that a repeal of its all-rider helmet law would increase Medicaid expenditures by $1. 2 million in the first year and annually up to $1. 5 million thereafter. All-rider helmet laws will increase motorcycle helmet use, decrease deaths and injuries, and save taxpayer dollars. This is why all states should have a helmet law. Another reason that helmet laws should be passed in all states is because according to the Office of Highway Safety Planning, riders without helmets are 40% more likely to suffer fatal head injuries than those with helmets, and are 15% more likely to incur nonfatal head injuries. This is why it is imperative that each state adopts a helmet law. A rider already has a disadvantage because they are not protected as they would in the cabin of a car or truck with seat belts and airbags. There is nothing holding the rider down on the motorcycle at the point of an impact. So if, and when an impact occurs, the chances of a fatal brain injury are higher in an individual who rides without a helmet on. Every state should adopt a helmet law for motorcycle drivers. Simply put, motorcycle helmets save lives. Point. Blank. Period. Death rates from head injuries are twice as high among motorcyclists in states without all-rider helmet laws. Motorcycle helmets are 37 percent effective in preventing motorcyclist deaths and 67 percent effective in preventing brain injuries (tnttrafficsafety. org). A helmet can possibly save the life of the rider, and any future suffering caused to their family due to possible death and costs in medical bills. Making helmet laws mandatory will be a win-win situation for everyone. References Motorcycle safety (Rev. Oct. 1999. ed. ). (1999). Washington, D. C. : U. S. Dept.of Transportation, National Highway Traffic Safety Administration. Highway safety NHTSA’s motorcycle helmet activities. (1997). Washington, D. C. : The Office. Chenier, T. C. , & Evans, L. (1984). Motorcyclist fatalities and the repeal of mandatory helmet wearing laws. Warren, Mich. : General Motors Research Laboratories. Motorcycle helmet use laws. (1999). Washington, DC: U. S. Dept. of Transportation, National Highway Traffic Safety Administration. Http://saferoads. org/files/Top%20Ten%20Reasons%20for%20Helmet%20Law%20091107. pdf Http://tntrafficsafety. org/sites/default/files/motorcyclehelmets1. pdf.

Fewer and Fewer People Donate Organs

Organ donation is an issue that needs to be addressed to all people in all nations. It is a rather controversial issue, but an issue that, if understood correctly, can save many lives. Some strongly claim that in the medical use, organ donation is a very important part. It can save lives for the people who are affected with disease or for those whom only need organ transplant due to the injury or some other causes. According to some statistics, because of there are not enough organs available, plenty of people around the world die everyday. On the other hand, careful consideration leads others to prevent from donating organs because of religious belief, lack of education, and medical illness. First of all, there are widespread of religious belief all over the world from China to United Kingdom and from Canada to Chile. Buddhism, Islam, and Taoism have some kind of belief in afterlife and natural process in birth. As the result, they came up with laws and rules for the deceased. Buddhism, for example, no one is allowed to touch the corpse of the body for several of hours. This may be too late to save the organs that can be used. Moreover, some believe that all things belong to the Earth. A paragraph indicates that every living grows on Earth. It is the Earth that naturalizes our livings. In order to thank the Earth of providing a variety of sources, we should all pay back ourselves in return â€Å"completely† which have no missing organs in the body. Since laws, rules, and religious belief are made for the dead, we should respect in who or what they believe. In additional, several countries, generally, such as Taiwan, Africa, or even well developed countries do not have the opportunity to receive correct information about organ donation and organ transplantation. There was a group of undergraduate students handing out questionnaires and doing interviews about the knowledge of organ donation and transplantation for their research paper in school. Surprisingly, they found out that the result showed approximately 89% of people the student chose are completely confused and misunderstood whether there are advantages or disadvantages of subsequences to themselves after donating organs. Furthermore, some mistakenly thought the only place in which people can buy and sell their organ is the black market. Government and hospitals, health care systems, and medical insurance companies should provide correct information about donating organs. After receiving positive information, people might have different thoughts about organ transplantation and would attempt to have their organs donated. Finally, people who have existing medical illness or condition are prohibited to donate their organs. Donating infected organs and tissues such as tumor and incurable disease such as cancer lead to deadly high risks to the ones who are receiving. Diseased virus will be transmitted from the donor people who accept the organs with donated organs to the body of the patients’ causing them serious illness or even worse- death. These particularly cells which might be bacterially infected are transplanted and it will be carried throughout patients’ body. Therefore, most of the patients in hospitals who have medical illness or incurable disease cannot donate organs to others. Not only do Doctors or researchers have the right to exam the organ initially but also do the patients need to tell professional what their problems are. In summary, organs are not donated because of the following reasons: cultural belief, lack of education, and medical illness. In the essay, I have given out some examples that support my thesis statement which are the belief of afterlife of Buddhism’s culture, questionnaire handed out by students for their research paper, and patients who suffer medical illness are not allowed to donate organs respectively. In my opinion, people should listen to one’s voice. They have rights not to donate their organs and we have to respect the religious and cultural belief of the minority group of people. On the other hand, others should encourage someone, who suffers no medical illness, to try to contribute their organs to the ones who need them. Moreover, there are no harms for donators to save lives by donating organ after dying. Government and several organizations could provide more information about organ donating to people.