The Economic Performance of the UAE

The aim of this paper was to analyze the economic performance of the United Arab Emirates (UAE). In particular, the paper focused on the effect of the decline in economic growth rate in 2012 and the fiscal policy that can be implemented to boost economic growth. The IMF predicted a reduction in economic growth of the country from 4.9% in 2011 to 2.3% in 2012. The country’s limited capacity to increase oil production is one of the factors that were expected to cause the decline in economic growth.Advertising We will write a custom report sample on The Economic Performance of the United Arab Emirates specifically for you for only $16.05 $11/page Learn More The findings of this paper indicate that the reduction of economic growth rate would reduce the country’s real output and increase unemployment in the long-run. Consequently, the government should implement an expansionary fiscal policy in order to stimulate economic growth. Moreover, the g overnment should focus on controlling the inflation and the crowding-out effect associated with expansionary fiscal policy. Summary of the Article According to the International Monetary Fund (IMF), the expansion rate of the economy of the United Arab Emirates (UAE) was expected to reduce from 4.9% in 2011 to 2.3% in 2012. The reduction was attributed to the country’s inability to increase its oil production. Nonetheless, the economy was expected to maintain its recovery. The 2009-2010 Dubai debt crisis adversely affected the country’s property industry. Consequently, Dubai World, which is a state-owned corporation, had to restructure its debts that were worth twenty five billion dollars. Nonetheless, the country was able to survive the crisis due to favorable oil prices and improved trade with Asia. According to the IMF, the uncertainty of the performance of the world economy was a threat to UAE’s forecasted growth. Concisely, continued decline in the performan ce of the world economy would limit the ability of UAE’s state-owned corporations to replace their maturing debts with new ones. Despite the efforts made to restructure the debts, most state-owned corporations still required high refinancing. The IMF also believed that the government’s decision to consolidate fiscal policy was right. Explanation of the Article based on AD-AS Model The economy of the UAE as described in the article can be explained in the framework of the aggregate demand (AD) and aggregate supply (AS) model. The model is made of up of three curves namely, the â€Å"aggregate demand curve (AD), the short run aggregate supply curve (SAS) and the long run supply curve (LAS)† (Rossana 81). Figure 1 shows the short run equilibrium of the economy of the UAE. Aggregate demand includes consumption by private economic entities, investments, government expenditure, and net exports (Chamberlin, Linda and Yueh 241). In this regard, the factors that will cau se a shift in the AD curve of UAE’s economy include foreign income, income distribution, and fiscal policy, as well as, anticipations concerning future output and prices.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Foreign income refers to the income earned in UAE’s major trading partners such as the United States of America, Europe, and Asian countries. According to the article, the recovery of the global economy is uncertain. This implies that foreign income will reduce if the global economy continues to deteriorate. Thus, the demand for UAE’s exports such as oil will reduce. As a result, the earnings of UAE’s exporting firms will decrease. This partly explains why the state-linked firms will not be able to rollover their debts if the performance of the global economy worsens. Overall, the decline in foreign income will cause the AD curve to shift to the l eft from AD0 to AD1, thereby reducing real output from Y0 to Y1. Following IMF’s prediction of economic decline, producers expect demand for their products to reduce in future. Thus, they will reduce investments and production in order to avoid the losses associated with high variable costs and low demand (Rossana 126). Similarly, consumers will associate the expected economic decline with reduced future earnings. Thus, they are likely to reduce consumption in order to save for the future. Consequently, the AD curve will shift to the left from AD0 to AD1, whereas real output will reduce from Y0 to Y1. As firms reduce investments and production in response to the expected economic decline, the â€Å"distribution of income from profit earners to wage earners is likely to worsen† (Minford and Peel 329). Generally, wage earners allocate a larger portion of their income to consumption than profit earners. Thus, allocation of income in favor of profit earners rather than wag e earners will move the AD curve to the left. Finally, the government’s plan to consolidate fiscal policy is likely to involve a reduction in public expenditure. This will lower aggregate demand, thereby shifting the AD curve to the left. The SAS illustrates the response of prices and real output to changes in aggregate demand in the short run (Romer 415). UAE’s short run supply curve will shift due to changes in productivity. The expected economic decline will lead to reduced productivity, thereby shifting the SAS curve in figure 2 to the left from SAS0 to SAS1.Advertising We will write a custom report sample on The Economic Performance of the United Arab Emirates specifically for you for only $16.05 $11/page Learn More Additionally, real output will reduce from Y0 to Y1. If the global economy continues to deteriorate, the prices of UAE’s exports will decline. This will discourage production among exporters, thereby reducing aggreg ate supply. Thus, the SAS curve will shift to the left. The expected decline in economic growth will cause the aggregate supply curve and the aggregate demand curve to shift to the left. These shifts are associated with a reduction in real output from Y0 to Y1. As a result, the short run equilibrium of the country’s economy will shift from E0 to E1. Description of the Economic Situation of the Market The expected decline in economic growth will affect both the goods and factor markets. In the goods market, the economic decline can have positive effects for consumers. This is because inflation usually declines when economic growth reduces (Rossana 112). Concisely, economic decline reduces demand for goods and services. Thus, producers and sellers are likely to reduce the prices of their products in order to stimulate demand and to clear their stock of manufactured goods, thereby reducing inflation. In this case, the consumers will have a higher purchasing power than they had b efore the reduction of the prices. On the contrary, the price reductions will affect the producers negatively. This is because it will reduce their profit margins. In addition, some producers might sell their goods at a loss. The expected economic decline will also affect prices in the factor market. As profits reduce, companies are likely to implement cost-cutting measures such as reducing their workforce. Moreover, companies are likely to reduce their investments in new equipment or borrowing in order to expand their operations (Minford and Peel 215). In this regard, factor prices will fall. For example, wage rates are likely to reduce as companies layoff their employees. Similarly, interest rates, which is the cost of financial capital is likely to reduce as demand for loans declines. The reduction in factor prices will benefit producers by lowering their costs of production. Nonetheless, it will negatively affect suppliers of factors of production. For example, low wage rates wi ll reduce workers’ disposable income and purchasing power. The Right Fiscal Policy Fiscal policy refers to the use of â€Å"government expenditure, taxation, and borrowing to influence the level of aggregate demand, output, and jobs in an economy† (Chamberlin, Linda and Yueh 197). Fiscal policy enables the government to influence the pattern of expenditure and income distribution in its economy.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Thus, Keynesians believe that fiscal policy has a great impact on consumption, productivity, and job creation in an economy that has an excess capacity. Thus, the government of the UAE should implement an expansionary fiscal policy in order to prevent a recession. An expansionary fiscal policy refers to â€Å"the increase in government expenditure and or a decrease in taxes that usually results into an increase in budget deficit or a reduction in budget surplus† (Chamberlin, Linda and Yueh 210). Justification for Implementing Expansionary Fiscal Policy An expansionary fiscal policy should be implemented because it will enable the government to reverse the economic decline. Concisely, the policy will spur economic growth by stimulating consumption and demand. The unemployment rate in the UAE increased from 3% in 2008 to 4.2% in 2012 (Nyarko 4-15). On the contrary, the country’s inflation rate was as low as 0.7% in 2012. The increase in unemployment rate, low inflation, and the expected reduction in GDP growth suggest that the economy is operating below its potential output. The government can push the country’s real output back to its near potential level by implementing an expansionary fiscal policy that involves an increase in public spending. Government â€Å"expenditure is one of the components of aggregate demand† (Rossana 47). Thus increasing it will result into an increase in aggregate demand. Figure 3 shows the effect of an expansionary fiscal policy on real output. According to figure 3, a rise in aggregate demand due to an increase in spending by the government will move the AD curve to the right from AD0 to AD1. Consequently, the country’s real output will increase from Y0 to Yp. In this case, Yp is the potential output. As the economy moves towards its potential output, the rate of GDP growth is likely to increase. How the Expansionary Fiscal Policy will affect the Economy First, the policy will lead to increased e conomic growth, thereby improving earnings in the private and public sector. Concisely, firms are likely to increase investments and to employ more people in order to increase their production in response to the expected increase in aggregate demand (Rossana 233). In this regard, increased productivity will raise firm profits and the incomes earned by workers. The government can also create employment through the expansionary fiscal policy. For example, it can create thousands of jobs in the construction industry by constructing new roads and schools. Second, an expansionary fiscal policy is likely to be inflationary. Figure 3 shows that prices will increase from P0 to P1 as real output increases after the implementation of the expansionary fiscal policy. A sharp increase in inflation is not desirable because it will reverse the benefits of the economic growth. Concisely, a high inflation reduces consumers’ purchasing power. Thus, aggregate demand will reduce if wages are not raised in response to the increase in inflation (Minford and Peel 316). Similarly, a high inflation will raise the prices of inputs, thereby increasing production costs. If the producers are able to pass the high costs of production to consumers, the prices of various goods and services will increase, thereby reducing demand. However, producers will have to absorb the high costs of production if they cannot share them with the consumers. In this case, firm profits will reduce in response to the high production costs. Nonetheless, the inflationary effect is not likely to be severe because the country’s inflation in 2012 was less than 1% (World Bank). Countries can increase their economic growth rate and create employment as long as they maintain a single digit inflation rate (Rossana 102). Thus, the inflation associated with the expansionary fiscal policy is not likely to be detrimental if it is less than 10%. Third, the expansionary fiscal policy is likely to increase UAEâ⠂¬â„¢s public debt if it is financed through borrowing. In 2012, the country’s public debt as a percentage of its GDP was 40%. Thus, the country is likely to fall into a debt trap if it continues to increase its public debt. A debt trap is a situation in which the government has to borrow in order to pay the interests charged on its existing debts. Countries that have fallen into debt traps often have poor credit ratings due to their limited ability to repay their loans. Thus, a low credit rating will limit the country’s ability to access capital from foreign lenders such as the IMF. High public debt is also not desirable because it involves a redistribution of income from taxpayers to holders of government debt securities (Romer 516). In this regard, it is likely to redistribute income from low-income earners who pay taxes to the rich who invest in government bonds. This is because the interests on government bonds are paid through taxes. Fourth, an expansionary fisca l policy is likely to have a crowding-out effect in the economy if it is implemented through a large deficit spending. In this case, the government will have to borrow a large amount of financial capital from the public in order to implement the policy. Conceptually, the government will be competing with private firms for capital. Consequently, interest rates will increase, thereby limiting the ability of private firms to access credit through the financial and capital markets. The government will have to increase taxes in order to repay the funds borrowed from the public. High taxes in the medium run will reduce consumers’ disposable income (Minford and Peel 117). The resulting reduction in consumption and demand, as well as, limited access to capital will lead to reduced investments. Thus, economic growth will decline. The Fiscal Policy Tools The tools that should be used to implement expansionary fiscal policy are increased government spending and tax cuts. Increased gover nment expenditure can be implemented in the following was. First, the government can increase its transfer payments. This involves increasing expenditure on social security programs such as unemployment benefit, state pension, and grants to students. Transfer payments ensure that every citizen has access to some minimum regular income (Minford and Peel 391). Transfer payments will improve the purchasing power of the poor, thereby increasing aggregate demand and economic growth. Second, the government can expand its current budget on recurrent expenditure. This involves increasing expenditure on public goods such as education and health care. In this regard, the government can increase employment in the education and health sector by hiring more teachers and nurses respectively. Additionally, the government can improve the salaries of workers in the sectors that provide public goods. Provision of public goods also involves expenditure on consumables such as stationery. Thus, aggregat e demand is likely to increase as the government increases its expenditure on public goods. This will lead to improved economic growth. Finally, government expenditure can be increased through capital spending. This involves increasing investments on infrastructure such roads, schools, and hospitals. Capital spending has a great effect on aggregate demand and supply because it stimulates high consumption. For example, construction of new roads will increase demand in the industries that supply construction materials. In addition, construction projects usually create thousands of employment opportunities. This will help the country to address the problem of persistent unemployment. Taxes can be direct or indirect. Direct taxes are charged on employment income and profits. Indirect taxes are levied on spending. They include value added tax (VAT) and excise duties on goods such as petrol. Most residents of the UAE do not pay personal income tax. Nonetheless, corporate tax is charged in most of the emirates. For example, nearly all companies in Dubai pay taxes on their earnings. In Dubai, corporate tax can be as high as 55% (Nyarko 4-15). Generally, most emirates levy corporate taxes on foreign oil companies, petrochemical firms, and foreign banks. These companies pay up to 55% of their operating profits as income tax to the government. Even though most residents of the UAE are exempted from income tax, they usually pay several indirect taxes. For example, municipal taxes of between 5% and 10% are usually levied on revenue generated from entertainment services, hotel operations, and commercial premises (Nyarko 4-15). In addition, most imported goods are subject to an import duty of up to 5%. Thus, the government can still implement the expansionary fiscal policy by reducing indirect taxes that are levied on consumption. For example, a reduction of taxes on entertainment and hotel rooms can lower the cost of staying in hotels. Consequently, hotel occupancy will inc rease, thereby raising the income of hotel owners and securing jobs in the hotel and restaurant industry. In addition, the government can reduce the corporate taxes that are paid by foreign oil and bank companies in order to improve their earnings. Lower taxes will enable these companies to allocate a better part of their earnings to investments rather than paying taxes. This will increase their productivity, thereby promoting economic growth. Impact of the Fiscal Policy Tools in the Economy Increased Government Expenditure Increased government spending will benefit the economy in the following ways. First, capital spending will lead to an increase in the total assets of the state. In particular, it will lead to expansion of the infrastructure that is necessary for the growth of businesses in the country. For example, the expansion of roads and railway systems will improve efficiency in transportation. The resulting reduction in the cost of transportation will reduce the overall cos t of producing goods and services in the economy. According to figure 4, a reduction in the cost of production shifts the aggregate supply curve downwards, thereby increasing real output from Y1 to Y2. This shows that investments on infrastructure that support economic activities will lead to high economic growth. Furthermore, foreign direct investments are likely to increase if capital spending is used to expand the country’s infrastructure. For example, more airlines are likely to operate form Dubai if its airport is expanded. This will create more jobs and spur economic growth through increased consumption. Second, provision of public goods and services such as education and health care will have positive supply-side effects in the economy by improving the quality of the country’s human capital. For example, funding higher education through grants to students will enable more people to improve their technical skills. People with high academic qualifications are like ly to be highly productive because they have the knowledge and skills that are necessary for achieving innovation (Al-Khateeb, Darrat and Elkhal 297-306). Similarly, spending on youth apprenticeship programs will enable fresh graduates to gain adequate job experience, thereby improving their employability. Concisely, it will enable the government to improve the competitiveness of the youth in the job market in order to reduce unemployment in the country. Similarly, expenditure in the health care sector will improve the health status of the citizens, thereby improving their productivity. Third, expanding social safety net programs is an effective way of improving the incomes of the poorest people in the country. By 2012, nearly 10% of the population of the United Arab Emirates was living in poverty (World Bank). Improving the income of the population living in poverty through transfer payments will boost consumption. The resulting increase in demand for goods and services will encour age producers to increase their output through new investments. Transfer payments are also a means of income and wealth redistribution in the economy. This is because transfer payment programs are financed through taxes, which are often paid by the rich. The benefit of redistributing income from the rich to the poor is that it enhances equality in the economy. Additionally, reducing income disparity reduces the chances of social unrests, which can hinder productivity and economic growth. Tax Cuts Tax cuts will affect the economy in the following ways. To begin with, reducing corporate tax will enhance investment in the economy. The oil and gas sector contributes approximately 31.3% of the GDP of the United Arab Emirates (Nyarko 4-15). Nonetheless, companies in this industry, especially, the foreign ones pay nearly 55% of their operating profits as taxes. This reduces the amount of funds that firms in the industry can allocate to investments and expansion. According to the article, r educed production in the oil and gas industry is one the factors that were expected to slow the country’s economic growth. However, productivity in the industry can be improved by lowering taxes in order to enable firms to allocate a large portion of their earnings to investments. For instance, firms in the industry can focus on oil exploration, thereby increasing the country’s oil and gas output. Any small increase in productivity in the oil and gas industry is likely to have a great multiplier effect in the economy. This is because the industry employs thousands of people and supplies oil, which is the main source of energy for production in the country. Lowering taxes is also likely to attract foreign direct investments in the country. Foreign investors often invest in countries that provide tax incentives so that they can improve their earnings. An increase in foreign direct investments will have a powerful demand-side effect in the economy. Concisely, the consumpt ions associated with new investments by foreign investors will increase the demand for various goods and services in the economy. The increase in demand will encourage producers to increase their output, thereby increasing the country’s GDP (Rossana 88). Finally, reducing the level of compulsory pension contribution will improve the purchasing power of the citizens. Concisely, a reduction of the compulsory contributions will enable the citizens to have a high disposable income, which will enable them to purchase more goods and services. Impact on Macroeconomic Indicators The article highlights three important macroeconomic factors, which have implications for the country. These include the expected reduction in GDP growth, planned fiscal consolidation, and uncertain performance of the world economy and financial markets. These factors will affect the country’s unemployment and output in the following ways. Output The forecasted reduction in economic growth means that t he country’s output (measured by GDP) expanded at a slower rate in 2012 than in the previous year. Expectations concerning future decline in economic activity usually influence production decisions. Producers and investors associate a reduction in the rate of economic growth with a decline in profits or corporate earnings (Romer 477). Thus, they are likely to reduce their output in response to the expected decline in demand as the economy slows down. In this regard, expectations of a decline in future earnings will lower the country’s output. The country’s output is also likely to decline if the global economic environment continues to deteriorate. Concisely, poor performance of the world economy will reduce the demand for the country’s main exports such as oil. Thus, UAE’s exporters will reduce their output in response to the low demand for their products. Similarly, uncertainty in the global financial environment will limit the ability of UAEâ₠¬â„¢s firms to access credit from foreign markets. This will limit investments and reduce the country’s output. Fiscal consolidation involves implementing strategies that enable the government to reduce its budget deficit and overall public debt (Rossana 121). Thus, fiscal consolidation involves a reduction in public spending by the government. Reducing government expenditure is essentially a contractionary fiscal policy. According to figure 5, a reduction in government spending will cause a shift in the aggregate demand curve to the left, thereby reducing real output from Y0 to Y1. Thus, fiscal consolidation is likely to reduce the country’s output. Unemployment Unemployment is a lagging macroeconomic indicator because it usually takes time to respond to a change in GDP growth. Thus, the country’s unemployment rate may not change significantly in the short run as the economy slows down. Reducing the workforce in response to falling demand and hiring new employe es as economic activity improves usually involves high costs. Thus, firms are likely to retain their employees in the short run even if the rate of GDP growth is reducing. In this case, the unemployment rate may not increase by a big margin. Okun’s law suggests a negative long run relationship between unemployment and GDP growth (Chamberlin, Linda and Yueh 245). Thus, if the country’s economic decline persists for a long time, unemployment rate will increase. This is because firms will opt to reduce their workforce in order to avoid high fixed costs. According to Okun’s law, the rate at which new jobs are created depends on the rate of GDP growth. Thus, a reduction in the growth of the country’s GDP will slow the rate at which new jobs are created. Hence, the problem of high unemployment will persist. Conclusion The IMF expected the rate of GDP growth in the UAE to decline from 4.9% in 2011 to 2.3% in 2012. This decline was attributed to the countryâ€⠄¢s limited capacity to increase oil production and uncertain global economic environment. The country’s government can stimulate economic growth by implementing an expansionary fiscal policy. In particular, it should increase public spending and reduce taxes. An expansionary fiscal policy is appropriate because the country has a low inflation rate, whereas its unemployment rate is high. Additionally, the policy will stimulate demand, thereby increasing the rate of GDP growth. Nonetheless, an expansionary fiscal policy is likely to be inflationary. Moreover, it can crowd-out investments in the private sector and increase public debt if it is financed through large-scale borrowing. In this regard, the government should also implement policies that will prevent high inflation and the crowding-out effect. Appendix Figure 1: AD-AS Model (shift in AD curve) Figure 2: AD-AS Model (shift in SAS curve) Figure 3: Effect of expansionary fiscal policy Figure 4: Effect of reduced prod uction costs Figure 5: effect of fiscal consolidation Works Cited Al-Khateeb, Faisal, Ali Darrat and Khaled Elkhal. â€Å"The UAE Growth Surge: Have Information Technology and Human Capital Contributed?† Studies in Economics adn Finance 24.4 (2007): 297-306. Print. Chamberlin, Graeme, Linda Linda and Yi-Chuang Yueh. Macroeconomics. New York: McGraw-Hill, 2006. Print. Minford, Patrick and David Peel. Advanced Macroeconomics. New York: John Wiley and Sons, 2002. Print. Nyarko, Yaw. The United Arab Emirates. Business. New York: UNU-WIDER, 2013. Print. Romer, David. Advanced Macroeconomics. New York: McGraw-Hill, 2011. Print. Rossana, Robert. Macroeconomics. London: Oxford University Press, 2011. Print. World Bank. UAE Economic Indicators. World Bank Group, 31 Dec. 2012. Web. This report on The Economic Performance of the United Arab Emirates was written and submitted by user Jaqueline Foley 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.

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Island of stone money - Essay Example The uniformity of Fei was another element that added to its qualification as money. As a trait in Fei, the stone could not be duplicated and this helped to restrict the use of alternative commodities as currency. Fei was a viable item for money because it was transportable. It had a hole in the center that helped in carrying it around especially when the need to complete a transaction arises (Friedman 1). The suitability of Fei to perform the function of medium of exchange underpinned its qualification as money. Fei allowed the islanders to transact buying and selling goods amongst themselves conveniently. Money helps in storing value and so did Fei. For example, a family in the Islands was renowned for its wealth because of an ancestor who had discovered a Fei that, besides having sunk in the sea, it still gave them a sense of wealth (Friedman 2). Fei was commodity money because its users accepted it as a form of payment even when they did not have a specific need for it. This is the reason why it was not necessary to carry the Fei from the buyer after completing a transaction. The value in use of Fei is one paramount aspect that justifies that it was commodity money. Fei had intrinsic value and besides helping the buyer to get the goods and services they needed, the seller obtained a sense of wealth and he or she enjoyed the prestige ascribed to people in possession of it. It therefore helped fulfil the goal of an economic activity of acquiring the value of commodities and services. Fei is commodity money because using it in transactions resembles barter trade only that it has a single recognizable unit of exchange (Friedman 2). Fei also qualify as commodity money because it has value in exchange. Exchanging Fei for other goods helped buyers indirectly acquire other items. Fei had value in exchange and if its value in use changed, it would have

Folate Supplementation In Food Essay Example for Free

Folate Supplementation In Food Essay Generally, fortification of foods have proven beneficial to people over the past years as it restores the nutrients that may have been lost in food processing and also enhances the vitamins that the food contain. Examples of food fortification include the addition of Vitamin C, to an orange drink, Vitamin D to dairy products, and Vitamins B1 and B2 to bread, among many others. However, while food fortification is generally considered beneficial to consumers, a recent article, Folic Acid Fortification: One Size May Not Fit It All, which was published in Natural News. com, showed that foods fortified with folic acid increase the risk of colon cancer. While I am in generally in favor of the fortification of foods, the article made me think twice before consuming foods that are high in folic acid. Although the article showed that folic acid had a number of benefits, particularly the 20 per cent reduction of birth defects of the spinal cord and the central nervous system, it still had health risks which, for me, should be greatly considered before taking in foods that are high in folic acid. In addition, even though the number of benefits outweigh the risks when consuming food that are fortified with folic acid, I believe that food manufacturers, nutritionists and members of the health sector should further conduct a collaborative and in-depth study on folic acid-fortified foods before they are made available for public consumption. The findings of the study should be then showed to the public so that people are aware of the risks of eating too much of a certain food. Another option which I believe would greatly avoid the risks of consuming food fortified with folic acid is the modification of food labeling. At present, food labeling is mandatory. However, it only shows the amount of nutrients, carbohydrates, calories, cholesterol, and other contents of the food and not the risks associated with it. In this regard, I would recommend that food manufacturers label fortified foods which contain substances that have known health risks in such a way that the people or consumers can see what exactly the risks are. For example, if a food is high in folic acid, which were shown to increase the risks of colon cancer, its label should clearly indicate that too much consumption of this food can lead to the colon cancer or should at least contain a warning. Furthermore, I also believe one way to lessen the risks of consuming foods fortified with folic acid, is for the government to make the public more aware of the exact content of the food and the dangers associated with them. Nevertheless, the article stated that only those who consume too much food fortified with folic acid are at risk for colon cancer, which means that these kinds of food are relatively safe if consumed moderately. The bottom line is people should always be aware of the exact content of the food they are eating in order to avoid possible health risks.

Bornstein :: essays research papers

Although Bornstein argues that gender is entirely socially constructed I find it hard to believe that he is completely correct. I do agree that gender is influenced by the world we are born into. I understand that from birth we are partially programmed by our society to become something, but I do not agree that this is the determining factor in what we become as people. I feel that it's only a small part of our modern society (known as traditions) that are fighting to fit us in a certain category. Furthermore, I'd like to believe that most of today's society is helping us express our own individuality. I am not a stranger to social construction. I was born to a very strict Roman Catholic Italian family. My grandfather worked construction 50 hours a week while my grandmother tended seven children. My own mother was not even allowed to attend college because they believed that "girls weren't supposed to go to college". Inequality and gender difference was very visible. Do to social construction, my mother grew up believing that there were certain jobs for men and certain jobs for women. Ironically it was the changing society of the late 60's and early 70's that gave my mother the motivation to question tradition. I feel that in this situation it's not society in general that constructs gender but simply ignorance through tradition. In my mothers case it wasn't society at all but merely her families strict traditional values that tried construct her into the "traditional women" figure. Even though many years have past since my mother has grown up and much has changed traditional values still play a part in how gender difference is created in society. In my own life my family has influenced my views on gender dramatically. When I was young I would listen to my grandfather ramble (in that myopic traditionally old fashioned tone so common of an older generation) about the inadequacy of women drivers and the annoyances of having women in the workplace. As a young person his views were very impressionable and if I hadn't been corrected by my mother I may of easily carried these beliefs into adulthood. In another situation, if there was ever any mention of eating a microwave meal in front of my grandmother she would immediately begin a rant about how she used to cook breakfast, lunch and dinner for seven children, herself, and my grandfather everyday of the week with no exceptions.

Graduate Employability Essay

When we say Graduate Employability, the first thought that comes to mind is the definition of employability. Various definitions have been written, and rewritten. They are all correct, but not quite complete. Reason being, the perspectives on employability are dynamic, while the norms in education run according to the knowledge curriculum, which may also be dynamic in most cases, but runs on a pre set pattern- one cannot jump the queue. Often, there has been a gap between discipline based skills acquired during higher education, and generic skills which are increasingly regarded as an essential input for employability. This gives rise to this perennial debate about graduate employability and reveals issues in higher education. As David Hind and Stewart Moss (in their book, Employability Skills, published in early 2005) seem to suggest. – written, verbal, communication, presentation skills etc enhance the employability of an individual or graduate looking for a job. Having skills and putting them to work is the starting point of employability- by how much an individual succeeds in this effort determines his level of achievement. Employability is an ongoing process- and it does not begin or end with a graduate getting his first job. Britain has been in the forefront of this ongoing debate. While skills and knowledge have been the twin constituents of employability always, it remains to be decided which one is the critical attribute and what is the optimum mix. Professor Mantz Yorke takes the view that employability is complex and goes well beyond the notion of key skills- it takes into account a mix of personal qualities and beliefs, understandings, skilful practices and the ability to reflect productively on experience (Learning and Employability Series, the study on â€Å"Employability in Higher Education- what is and what is not†) Then we come to the issues in higher education impacting graduate employability. Higher Education Funding Council for England conducted a study on graduate employability way back in 2003 and found that work experience during courses appears to be a highly positive influence on employability. The reason is simple- while on the job, the student gets an opportunity to use his academic knowledge in realtime scenario- that too under close supervision and tutorial guidance. The ownership is high because the results are linked to the students performance. The intrapersonal skill sets are fine tuned and behavioural skills are further honed to provide the student with tools to accomplish a given task or project. When later, as a graduate he or she looks for employment , there is far more clarity on the demands of the job and his/her ability to match up- so wrong decisions are averted. It results in well matched expectations from both sides- the employer and the employee. Competencies being different for different job roles, it just gets that much much simpler to know what one is good at, and what one should be looking for. Another point highlighted in the study by HEFCE says that employer involvement in course design and delivery is positively associated with the quality of initial employment found by graduates. This way, the employers expectations are stated explicitly, and the curriculum tweaked to accommodate the expectations. Sufficient to say, that while there is already a whole lot being done at the graduation level, to turn out complete, capable and well balanced individuals, more can be done to enhance employability. The times are changing, so are the needs and expectations of students and Corporates. The efficacy of a sound education system gets established if the alumni are successful in their calling. This focussed group discussion is meant to establish the relationship between schooling and education. As Mark Twain said, so long ago- â€Å"don’t let your schooling interfere with your education†. We are all familiar with Robin Hood!

“Naked Economics” by Charles Wheelan Essay

Economics is on fundamental level of the study of scarcity. Human desires are unlimited, but resources aren’t and every society tries to figure out how to allocate its resources for maximum benefit. The field of economics attempts in large part, to help understand these resource allocations and decisions. Resources allocated largely according to the forces of supply and demand, and prices serve as incentives to determine how much of a product a company wants to produce and how much people want to buy. Economics can also be looked at as the study of incentives or the study of household business making. Due to such a large variety of information, economist begin to attempt solving a problem by stating â€Å"it depends†. These two words are widely used in the field of economics and foremost the most important two words we see in the book â€Å"Naked Economics† by Charles Wheelan. These two simple, yet widely used words are portrayed and used greatly through out each chapter by the author giving a simple explanation of how certain scenarios differ and are different from one another based on certain situations. The first four chapter of the book are and understanding of introducing you to what economics and giving you a brief understanding of how it works, such as the importance of incentives, and the ways economist tackle certain scenarios. The first few chapters introduce many questions, but most importantly ask â€Å"Is the Government making our economy better†? This is highly debated throughout and it all boils down to the two words â€Å"it depends†. When the government owns a certain part of a part of business, the government has no motive to â€Å"do a good job†. For example companies owned and run by the government such as places including the DMV, public health facilities, and hospitals used by people who have insurance given to them by the government, have no incentive to â€Å"do a good job† and make the visit  quick, painless, and easy. This proves that government regulation is a bad thing, but there are many ways to avoid this if looked deeper into†¦ Companies could buy out these small time businesses and provide better assistance and quality help. But the government is mainly focused upon two things which are taxation and regulation with trade offs. Chapter four introduces examples of the New Delhi situation, which was when factories and large plants were shut down by the government solely because the pollution got so bad. Many people were extremely angered by this because it left many unemployed and with nothing to do. This caused many problems throughout the society and grew into a large dispute between the people and the government. A skeletal summary of chapter five is that it introduces the economics of insurance. One question introduced is â€Å"how much information is too much information† which insurance agencies and courts take into consideration. If your applying for health insurance and you’re a middle aged man with a history of family health conditions or a history of early death solely due to health issues then filing a claim for life insurance is extremely difficult and sometimes extremely expensive. On the other hand if you’re a person with no history of bad medical records and have a steady and safe job insurance isn’t something to hard to obtain from a company. This question is greatly used with insurance companies. They will ask basic question and have some questions referring to the things listing above asking for a brief explanation or answer to the following question, not looking out for the person, but looking out for there company so the insurance company can have the highest profit margin possible. The question of â€Å"how much information is too much† depends on the person and who you are in the situation. In last bunch of chapter the question of wealth is brought up and talked about with how economist look at the situation, the question of â€Å"how rich am I†. A commonly asked question by many people is â€Å"how rich are you† or â€Å"how much money do you have†, but this isn’t something that economist look into. They solely look into the GDP per capita which often shows a nations wealth, but is often criticized by many people, even economists. People often don’t realize that a nations GDP per capita can increase while unemployment, and the infant mortality rate increases as well. This is very plausible for an  economy. Inflation plays a huge role in wealth for every person and â€Å"it depends†. If home developer earned a gross income of $450,000 per year, you cannot say you are richer than someone in the early 70’s early a gross income of $300,000 per year due to inflation and the economy. The question of your wealth all depends on how you look at the situation and how you define what wealth is to you. If wealth means how much money you have and you don’t consider inflation and certain scenarios then your most wrong. Our economy is every changing and someone earning $300,000 a year in the year of 2009 compared to that of a person in 2001 situations were completely different and may have been easier for that person due to â€Å"good† economy. Throughout the chapters, Wheelan talks about many different scenarios and addresses different questions. In Chapter four Wheelan addresses how the government is helping to promote the growth of the economy. In Chapter ten, he addresses the federal reserve and certain scenarios

Views in the Battle of Trenton essays

Views in the Battle of Trenton essays Despite Lack of morale among Troops and Poor Supplies, Brilliant Washingto defeats British On the morning of December 26the General Washington lead the American fources to another unlikely victory. Weeks before General Lee was captued by Lt.Col. Harcourt and could not come to the aid of Washington, thus this weakened our fources even more. Another blow was the retreat of General Greene. The New Jersey Militia also showed up in miniscule numbers, and deserttion was common The British troops along with the Hessians had been chasing the American fources from New Brunswick, to Princeton, untill the pushed them back into Pennslyvania. The British troops were spread out and not feeling any threat of the Amrican fources, besides a few rapscalius New Jersey Milita Men who annoyed them enough to give Washingto a hand. The foursight of Washinton lead him to have all the boats along the Deleware collected as to stop any mode of further progress by Howe. This worked and Howe decied not to persue Washinton any further. Washington took this time to recuperate and plan. The timing could not have been more perfect had God planned it himself. Just after nightfall Washinton had his troops ferried across to the New Jersey side while Col. Fitzgerald transported 2400 men, 18 cannons and their hourses just south of Bristol and one south of Trenton. This was to capture any fleeing Hessian Troops, who had been placed there previously. The Weather was bone chilling cold. Due to this two men had reportedly froze to death, but Washington marched the on. As luck would hve it the same stoem caused Major Dechow to cancel his dawn patrole. The Drunken Corl. Rall was slow to aide his troops from his Christmas reveling. All the Hessians were slowed by the jollies of the past night and the sober Ameican militia caught them off guard. In the pandamonium the three Hessian regiments were seperated and left exposed. Wi ...

Africas Slow Growth And Development Politics Essay

Africas Slow Growth And Development Politics Essay This paper examines the causes of slow growth and development of Africa with emphasis on some selected countries. The paper argued on the basis of Madison’s (1995:65) estimates of per capital Gross Domestic Profit (GDP) for a sample of countries that, during the first half of the century, Africa had grown considerably more rapidly than Asia. By 1950, the African sample had overtaken the Asian sample. In the 1960s, Africa’s future looked bright, especially that the continent was gradually disengaging from the bondage of colonial imperialism. But today, Africa is the poorest continent in the world. While there has been a steady growth in countries of Asia, such as Malaysia, Singapore, South Korea, and Taiwan, African states have lagged behind. Why is African development growing slowly? What went wrong in Africa? How can these problems be solved? This paper attempts to provide answers to some of the fundamental issues that have bedeviled the continent in the 21st century. In order to assess the level of growth and development in the continent, the concepts of ‘growth and development’ is critically examined within the confines of Africa in the paper. The paper attributed the slow growth and development of Africa to ‘Internal influences and external dimensions’. At the same time, the paper provides some plausible suggestions that would serve as a panacea to the problems militating against the growth and development of Africa. Introduction From what direction should one view the slow growth and development of Africa: is it from the perspective of bad leadership couple with wide spread corruption? Or is it that of policy failure, or geographic and demographic factors? Africa as well as the rest of the world is battling with this provocative question: Why does Africa continue to lag behind the rest of the world in terms of social and economic development? Mathew Paris writing in Times August (2002), believes the answer to the co ntinent’s development problem lies in four simple words: †swagger, Indolence, self indulgence and hot air †he points out †failure of leadership, the individual means that what is created or started is not maintained. Further more, it has also been argued that after 1960, particularly when majority of the countries in the continent gained political freedom, the potential of governments were not responsive to the people’s needs, aspirations and wishes, Mathew Parris (2002). The dream were shattered due to bad leadership, corruption, wars, poverty and eventually, economic underdevelopment. Could this entire unfortunate phenomenon be considered as factors militating against the growth and development of Africa? In terms of structure and for the purpose of understanding and clarity of the main thrust of this article, we have divided the paper into four parts. The first part focuses on the interpretation and application of the terms ‘growth and develo pment’ as concepts of analysis. It is necessary to understand that the two concepts were used based on what the paper takes them to be. Perhaps the greatest weakness in the literature of social sciences is striking lack of precision with which terms are used and under the conditions they are studied. However, a clear distinction between growth and development is explained in this part. The second part discusses African perspective. The rich complex of minerals, ecological hung provided by the continent, the continent’s archeological sites and the richness of African culture and its contribution to global community is captured in the first part. The third part investigates the causes of the slow growth and development in Africa. On this part different explanations were presented to justify the strength of points on the topic under review. However, few examples of some selected countries were cited. The fourth part poses a fundamental question: whether or not Africa will ever grow and develop? Perhaps, this is the greatest challenge to African leaders in the 21st century whose time has come. While the final section concentrates on the concluding remarks. This part provides some plausible suggestions that would change the predicaments in Africa, at least if not all, some parts of it.

Safety of pedestrians and bicycles Term Paper Example | Topics and Well Written Essays - 3500 words

Safety of pedestrians and bicycles - Term Paper Example Over the period of last 20 years, these countries have taken some major steps to ensure safety like better facilities, better urban planning and traffic education for all those who use the road, be it pedestrian, cyclist or motor driven. The implementation of road safety laws has played a key role in this statistic. Other countries may imply the very same rules and models applied in Europe to have a better safety record for the coming future where more highways and road networks will be established for all kinds of commuters (Pucher, 2000). Introduction In the modern era; where fast cars, busses and sub-ways swell our urban and sub-urban lifestyle, people still prefer simple means to travel which includes the earliest mode of travel which is â€Å"walking† and a the use of two-wheel un-powered vehicle known as the bicycle. This trend has recently increased, especially in the metro-cities due to the limitation of traveling in powered vehicles. Some of the problems include parki ng space, fuel cost and taxes. The increase in technology has made sure that a network of roads and highway is established due to the nature and speed requirements of the motorists. This very fact has made modern urban planners to think about the safety of pedestrians and cyclists traveling on the road; especially the ones which they share with high speed cars, busses and other engine driven vehicles. This report helps in understanding the very danger faced by pedestrians and the people saving fuel on bicycles. The safety precautions taken by states and other agencies involved in the welfare of people on the road, be it any mode of travel. The report gives an insight of the future of pedestrian and bicycle riders with respect to change in historical terms or accident avoidance and self education of the people using highways and roads. Trends in Walking and Cycling The 2009 National Household Travel Survey (NHTS) shows us that the trips taken on foot were around 11 percent of all the trips reported where as trips on bicycle were recorded to a bare 1 percent. This accounts for a total of 12 percent. Although these stats do not show a healthy sign, but in comparison to the stats in 2001, show n increase of 25 percent overall. The total number for commuters on foot has almost doubled from 18 billion in 1990 to 24.5 billion in 2009. A similar trend was noticed in the area of bikes, where the numbers rose from 1.7 billion to 4 billion in the same time frame. Still, the required numbers in ratio with the current population are not being met to reduce engine driven vehicle related issues on a daily basis (Clifton, 2004). The method of data collection for reaching these trends has also turned into an efficient system by replacing the old system. The use of telephone to carry out the survey was later replaced by recovering data from travel logs. The National Household Travel Survey included another key assessment for calculating the number of people walking or riding a bicycle in a prescribed time frame. The survey asked people about the number of