Federal Reserve Bank

Federal Reserve Bank In this essay I would like to discuss why the Fed changes interest rates, what economic mechanism uses interest rates to affect the economy, if the Fed's announcements really make a difference, and what the Fed's most affective monetary policy is.The first question to be answered is why does the Fed change interest rates. The Fed cannot control inflation or influence employment directly so instead, it affects them indirectly, by raising or lowering interest rates. Interest rates play an important role in the general business cycle and financial markets. When rates rise, consumers spend less, corporate profits are reduced, the stock market declines, and unemployment goes up. The Fed uses monetary policy as the economic policy to change interest rates and try to regulate consumer spending, the stock market, and unemployment.Do the Fed's announcements really make a difference? Yes, when the Fed makes an announcement it has an effect on people.English: Interest rates as set by the Bank o f Engl...When the interest rates go up, consumers will buy less and when rates go down consumers will usually buy more. When rates go up it is usually good news, and people will go get new mortgages on their houses, or maybe even buy a new house or car thus helping the economy.In conclusion the Fed's only way to control inflation or influence employment is by affecting them indirectly with monetary policy by raising or lowering of interest rates. The federal-funds rate is the main monetary policy instrument of the Fed and it does not directly impact the economy but when the news of lower or higher interest rates is spread, consumers react and therefore the economy reacts to their changed spending habits.

The Role of Islam in African Slavery

The Role of Islam in African Slavery Slavery has been rife throughout all of ancient history. Most, if not all, ancient civilizations practiced this institution and it is described (and defended) in early writings of the Sumerians, Babylonians, and Egyptians. It was also practiced by early societies in Central America and Africa. The Quran prescribes a humanitarian approach to slavery: free men could not be enslaved, and those faithful to foreign religions could live as protected persons, dhimmis, under Muslim rule (as long as they maintained payment of taxes called Kharaj and Jizya). However, the spread of the Islamic Empire resulted in a much harsher interpretation of the law. For example, if a dhimmi was unable to pay the taxes they could be enslaved, and people from outside the borders of the Islamic Empire were considered an acceptable source of slaves. Although the law required owners to treat slaves well and provide medical treatment, a slave had no right to be heard in court (testimony was forbidden by slaves), had no right to property, could marry only with permission of their owner, and was considered to be a chattel, that is the (moveable) property, of the slave owner. Conversion to Islam did not automatically give a slave freedom nor did it confer freedom to their children. Whilst highly educated slaves and those in the military did win their freedom, those used for basic duties rarely achieved freedom. In addition, the recorded mortality rate was high this was still significant even as late as the nineteenth century and was remarked upon by western travelers in North Africa and Egypt. Slaves were obtained through conquest, tribute from vassal states, offspring (children of slaves were also slaves, but since many slaves were castrated this was not as common as it had been in the Roman empire), and purchase. The latter method provided the majority of slaves, and at the borders of the Islamic Empire vast number of new slaves were castrated ready for sale. The majority of these slaves came from Europe and Africa there were always enterprising locals ready to kidnap or capture their fellow countrymen. Black Africans were transported to the Islamic empire across the Sahara to Morocco and Tunisia from West Africa, from Chad to Libya, along the Nile from East Africa, and up the coast of East Africa to the Persian Gulf. This trade had been well entrenched for over 600 years before Europeans arrived, and had driven the rapid expansion of Islam across North Africa. By the time of the Ottoman Empire, the majority of slaves were obtained by raiding in Africa. Russian expansion had put an end to the source of exceptionally beautiful female and brave male slaves from the Caucasians the women were highly prized in the harem, the men in the military. The great trade networks across North Africa were as much to do with the safe transportation of slaves as other goods. An analysis of prices at various slave markets shows that eunuchs fetched higher prices than other males, encouraging the castration of slaves before export. Documentation suggests that slaves throughout Islamic world were mainly used for menial domestic and commercial purposes. Eunuchs were especially prized for bodyguards and confidential servants; women as concubines and menials. A Muslim slave owner was entitled by law to use slaves for sexual pleasure. As primary source material becomes available to Western scholars, the bias towards urban slaves is being questioned. Records also show that thousands of slaves were used in gangs for agriculture and mining. Large landowners and rulers used thousands of such slaves, usually in dire conditions: of the Saharan salt mines, it is said that no slave lived there for more than five years.1 References Bernard Lewis ​Race and Slavery in the Middle East: An Historical Enquiry, Chapter 1 Slavery, Oxford Univ Press 1994.

Discuss the importance of passion and love Essay

Discuss the importance of passion and love - Essay Example In line 2 of the poem, he states, â€Å"Before my pen has glean'd my teeming brain,† of which he is talking about his passion for writing, meaning before he has written anything that he can gather from the flood of thoughts in his head. In the last 4 lines of the poem, lines 9 through 12, he extends his fear to also include the potential loss of his love. However, in the last 2 lines, it seems he has come to terms with his fears and recognizes an unimportance of love, in the last line he says, â€Å"Till love and fame to nothingness do sink.† In â€Å"The Eve of St. Agnes,† by Keats, he takes the opposite perspective on love. He describes a character who is propelled into a situation, specifically a house, which contains noted dangers, â€Å"Hyena foemen, and hot-blooded lords,† to rescue an old, frail woman, out of love, â€Å"Save one old beldame, weak in body and soul.† Lord Byron’s poems, â€Å"When We Two Parted† and â€Å"She Wa lks in Beauty,† are poems that discuss love in past-tense; it has been experienced, and has since vanished. He is talking about it in the present, reminiscing about his history. One example of past and present in â€Å"When We Two Parted,† is in stanza 2, â€Å"The dew of the morning sunk chill on my brow—it felt like the warning of what I feel now.† By this, he is referring to how he felt in the past, compared to the same feeling in the present.

Why There Would Be No People Without Plants Essay - 2

Why There Would Be No People Without Plants - Essay Example Since humans exhale carbon dioxide, plants use that to create oxygen that enables humans to live. This makes life possible for all living forms on earth. This paper will review the importance of plants, and how their existence orchestrates the existence of other life forms. Plants have the task of cleaning the air. This implies that they take up all the carbon dioxide that humans exhale, and turn it into oxygen. They are a primary source of energy. This is because some individuals somewhere in the world do not have electricity as a form of energy. They provide basic heat energy in the form of charcoal and wood. It is a known fact that, without this heat source, many lives would perish (Balick & Cox, 1997). Through plants, the soil pH and acidity is maintained. It is through the existence of shrubs and grasses that the top soil is stabilised and held in place. Through any form of erosion, soil would be rendered useless. The growth of anything on earth depends on how the soil tends to behave. Supporting life form on earth is based on the ability to grow and sustain food (Balick & Cox, 1997). This can only be possible if rich, top soil is maintained. Through plants, it is possible for human beings to get treatment for certain diseases. Some plant species aid in the excretion of chemicals that help combat diseases. Without some of these plants, it would be next to impossible for humans to exist for long (Chiras, 2011). Isolating plant proteins is responsible for this, and through technology; many scientific breakthroughs in medicine are made possible. These proteins are synthesised in plants. Through cellular respiration, the conversion of these nutrients into biochemical energy occurs. This further leads to the breakdown of large molecules into much smaller ones, thus releasing energy to the immediate environment. This occurs through aerobic and anaerobic respiration. Though they perform almost similar functions, the two operate under different conditions

Ionising radiation in medical imaging Essay Example for Free

Ionising radiation in medical imaging Essay Contemporary medical practice is heavily reliant on mediconuclear and radiological procedures and investigations. To derive important diagnostic information, medical personnel must carry out investigations which may expose patients and the medical personnel to certain levels of risk. With the continued advancement of medicine and diagnostic examinations, many procedures which utilize relatively high loads of radiation to produce images are becoming more and more popular. To protect patients and radiologists from the harmful effects of radiation exposure, protection practices and standards are grounded on the understanding that any level of radiation may cause detrimental health effects, including genetic damage and cancer development. However, while protection standards have been crucial in reducing the level of exposure to harmful radiation, these estimates are just approximations. Some authors have argued that these approximations are indeed underestimates and that better estimates of risk should be calculated based on the age and sex of an individual. These concerns imply that doctors and radiologists must uphold the highest standards for radiation protection, including limiting the number of times a patient subjected to radiologic examination. The use of ionsing radiation in medical imaging began with x-rays discovery in 1895. Basically, ionising radiation consists of the component of electromagnetic spectrum which has sufficient energy to penetrate through matter and dislodge orbital electrons which are then converted into ions and captured in an electromagnetic film. Different types of electromagnetic radiations (gamma rays and x-rays) are utilised in different forms of medical imaging. Different forms of radiation also have different biologic effects. Imaging modalities such as single photon computed tomography (SPECT), cardiovascular computed tomography (CVCT), positron emission tomography (PET), and x-ray fluoroscopy have become indispensable diagnostic tools in almost every medical establishment. Even though these modalities are necessary for an accurate and timely diagnosis, the emission of both particulate and photon radiation means that the risks and benefits of these diagnostic techniques need to be evaluated. While it is easy to measure some radiation dosimetry parameters, others can only be estimated by using complex simulations and assumptions models. Generally, radiation dosimetry is presented in terms of physical measurements. Based on literature research, this paper discusses the risks associated with ionising radiation in medical imaging and the measures taken by both the patients and the medical staff to limit the level of radiation dosage. Risks Associated with Ionising Radiation in Medical Imaging Exposure to ionising radiation in the medical/hospital environment can either exhibit as deterministic or stochastic impacts. Deterministic effects are those effects whose severity is determined by the radiation dose. These effects occur when the radiation exposure goes beyond the dose threshold. The most common example of deterministic effects is skin burns. When the skin is exposed for a long time to radiation, particularly in the course of prolonged fluoroscopic procedures, skin burns may occur. Patients undergoing electrophysiologic ablation examinations which may take more than one hour are more at risk of suffering skin burns as a result of repeated exposure to relatively high levels of radiation doses. 3 Other deterministic effects include cataract formation, skin erythema, and epilation. Stochastic effects are those effects whose probabilities of occurrence are dependent on the dosage. For instance, effects such as radiation induced carcinogenesis always occur after a person has been exposed to variable doses of radiation for a long time. Generally, stochastic effects do not have a threshold dose; rather, long term exposure to ionising radiation may cause varying degrees of cell proliferation, division, and differentiation. Thus, it is extremely difficult to establish the exact level of exposure that can be incriminated in the development of cancer or any other associated effect. However, it has been demonstrated that higher doses of ionising radiation may cause chromosomal changes and subsequent malignancies. On the contrary, it should be noted that not all chromosomal alterations cause phenotypic illnesses. Exposure to high doses of radiation may induce malignancy in children, especially the development of leukemia. There are two different theoretical perspectives for discussing the link between medical imaging and cancer development at relatively low exposure levels. According to the linear no-threshold theory, the effects of radiation are not limited to a certain threshold of exposure. In essence, all radiation em itted have the capacity of causing malignancies and the risk increase linearly with dosage. On the other hand, the linear-quadratic theory states that low doses have an insignificant risk on developing malignancies and that the risk can only increase quantitatively with exposures to high radiation doses. In many international and national legislations concerning radiation and reducing exposure to radioactive emissions, the more conservative linear no-threshold hypothesis have been adopted as opposed to the linear quadratic hypothesis. This consensus ensures that no amount of radiation exposure is taken as being negligible and insignificant when it comes to malignancies and other associated effects. The Chernobyl disaster and the Hiroshima tragedy are two examples of the effects of high dose radiations that have been widely studied. Studies of the survivors have confirmed the hypothesis that in-utero X ray exposure increases the risk of cancer development. Again, it should be understood that radioactive emissions from nuclear accidents or explosions cannot be compared with the doses of ionising radiation that patients and staff are exposed to during medical imaging. Epidemiologic and experimental evidence suggests that low dose radiations can lead to the development of leukemia and solid tumours. Due to this link, workers in the nuclear industry and health care are often monitored and the level of exposure restricted to not more than 20 mSv per years (100 mSv in five years). The current growth in the use of computed tomography imaging has created renewed interest into the possible risks associated with CT scans. Some studies have established that computed tomography imaging, esp ecially cardiac CT imaging. According to Moloo (2009), cardiac CT imaging exposes patients to a lifetime risk of developing cancers. A radiation dosage of 2. 3 milliSieverts may result in a lifetime cancer risk of 20 cases per 100,000 women and 8 cases per 100,000 men. The risk to developing lung cancers is higher than that of developing other cancers. Using insurance claims documentation of 1 million clients, other researchers have also been able to establish that more than more than 70% of medical claims were associated with medical imaging procedures. Notably, CT scans of the abdomen and the pelvis, CT scans of the chest, and myocardial perfusion imaging accounted for the greatest proportion of exposure to cumulative radiation doses. It is also important to note that, even though not widely reported, a single radiation dose of an abdominal or pelvic computed tomography imaging far exceeds the recommended annual background radiation dose. For instance, cardiac CT imaging typically exposes the patient to a radiation dosage of 3-15 mSv, for mammograms the patient is exposed to 0. mSv, while pelvic/abdominal CT imaging exposes the patient to 10mSv. These dosages far exceed the annual background dosages and increase the likelihood of developing cancers. Castranovo (2008) asserts that even though the use of multidetector CT angiography has been extremely important in generating images in a very short time, it should be noted that the population exposure to radiation has risen from a mere 0. 54 mSv to more than 3. 2 mSv. 16-slice compute r tomography coronary angiography (CTCA) increases the probability of cancer developing in different patient organs. These risks call for an evaluation of radiation dosages, particularly in CTCA so as to ensure that the benefits far outweigh the risks associated with the procedure. In a study carried out in the United Kingdom, it was estimated that the course of catheter based coronary angiography exposes patients to fluoroscopic radiation and increases the risk of cancer in 280 per one million patients examined. Exposures to fluoroscopic radiation during electrophysiologic ablation have been estimated to increase the number of fatal malignancies in both men and women. 3 For pregnant mothers, exposure to radiation may cause teratogenesis. High dose variations may cause fetal malformations, central nervous system alterations, particularly mental retardation and microcephaly. Therefore, even though sick mothers may require medical imaging to aid in diagnosis, radiations have a potential adverse effect on the foetus and physicians should critically assess the need merits and demerits of using medical imaging as a diagnostic procedure, especially when there are safer alternatives. Finally, ionising radiations increases the risk of radiation-induced gene mutations. Germline mutations have the potential of altering future generations. Such radiations increase the frequency of genetic mutations in the population hence potentially altering future germ lines. In other cases, genetic mutations may lead to the development of either physical or physiological deformities, or cause genetic diseases. 12 It widely known that the main consequence of adverse exposure to ionising radiation is hereditary effects. Radioactive damage of gametes may lead to a wide range of mild or serious consequences, including mental defects and death (Edward). Precautions Required to Protect Against Ionising Radiation Medical professionals have an ethical and professional obligation to protect patients under diagnostic procedures that may expose them to adverse levels of radiation. The primary precautionary measure is training. According to the Ionising Radiations (Medical Exposure) Regulations (IR(ME)R) of 2000 in the United Kingdom, radiologists are required to undergo specialist training on the physics of ionising radiations and the measures which should be taken to protect against radiation exposure. The legislation also has provisions for patients to report to the IR (ME) R Inspectorate about incidents of radiation overexposure. Since medical radiation accounts for 14 percent of UK’s average annual dose, these legislations are an important regulatory tool protecting both staff and patients from unwarranted exposure to radiation originating from medical imaging procedures. It is also important to reiterate that these laws, as well as the provisions included in the International Commission on Radiological Protection are grounded on the linear threshold theory. Radiologists have an obligation to expose the patient and the staff to minimal amounts of radiation necessary for the successful completion of the procedure. Where appropriate, the dose of radiation used in cardiovascular computed tomography may be reduced by adjusting the scan parameters to suit every individual patient. Software based modifications can also be installed to reduce the level of exposure to radiation by changing computer tomography scanning protocols. For instance, the x-ray tube radiation output can be reduced by ECG-controlled tube current modulations. In interventional radiology, the decision to use radiation diagnostic techniques should be justified as per the requirements of the regulatory authority. Patients should never be exposed to radiation unless the practitioner has offered a prescription which complies with relevant national guidelines. In making that prescription, the medical practitioner should be guided by the efficiency of the diagnostic intervention, the benefits and risks associated with the technology, and the availability of other alternative technologies that are less harmful. With respect to equipment specifications, all authorized diagnostic radiology equipment must meet the compliance requirements set out by national and international regulatory standards. Such specifications must take into account the possibility of human errors, equipment failures, or any other occurrence that may predispose medical practitioners and patients to unhealthy radiation exposure. Radiological procedures such as mammography, dental radiology, and interventional radiology should only be performed by specifically trained personnel using specifically designed imaging systems. Where appropriate, radiology units should have automatic exposure control systems and automatic brightness controls. These measures optimize patient doses. Operationally, regulatory agencies in the UK are charged with the responsibility of ensuring that the registrants and licensees comply with all the minimum necessary standards. This is achieved by specifying applicable operational parameters such as the types of equipment that can be used, safer procedures for examining the chest, thorax, abdomen, and lumbar spine regions as well as the skull and pelvis. Other measures may include changing radiation generator parameters such as the tube voltage range and tube loading, changing the focal spot, film processing conditions, and film-screen combination. 15 Conclusion The fact that recent advances in radiological and mediconuclear imaging procedures have become indispensable diagnostic tools is indisputable. Accurate and timely examination of clients through radiologic procedures saves lives and paves the way for scientific based treatment and management of diseases. The popularity of these techniques continues to soar to their speed and relative ease of use. Recent research has established that the current levels of radiation exposure for diagnostic purposes far supersede what had previously been thought. This realization has created a new wave of debates and studies into the benefits and risks associated with ionising radiation and whether imaging is crucial for accurate diagnosis. 4 Even though an accurate measurement of the incremental risk of ionising radiation in medical imaging is yet to be determined, the uncertainty of the relationship between doses and tissue specific responses should is enough to encourage only the use of low doses. The link between ionising radiation and cancer implies that both physicians and patients need to acknowledge the potential harm that CT imaging causes and strictly implement radiation protection measures. Every individual should be exposed to radiation dosage based on their phenotypic and physiologic characteristics. Recognizing the gravity of other associated risks such as teratogenesis and radiation induced gene mutations implies that additional care should be taken when using diagnostic imaging. Clinical decision making as regards the utilization of low levels of ionising radiation should be supported by a broad range of modalities which justify the risk-benefit ratio.

Depression :: essays research papers

Depression Everybody has "the blues" or "feels down" from time to time. It's normal to feel sad for short periods, especially if something bad had happened in our lives. But those of us who suffer from depression have much more than "the blues", and our feelings can last for a long time. There are many sufferers of this illness; at any one time, 5% of Canadians are depressed, and 10-20% will suffer from it at one point in their lives. But family and friends who've never experienced true depression can have trouble understanding what it's like. Many people find it difficult to think of depression as an illness because their are no obvious physical symptoms. But depression is an illness, which is caused by chemical changes in the brain. Few people think that a physical illness is the sufferer's fault-and no one should think depression is, either. Like any other illness, depression has certain symptoms. Once these have been recognized, you can take measures to treat them. Some are: feeling sad, worried or depressed; feeling as if your life is dreary and unlikely to improve; had crying spells; become irritated over little things that didn't used to bother you; find you no longer enjoy hobbies and activities that once made you happy; feel a lack of self-confidence or feeling like a failure; lost your appetite, or are eating more than usual; have had trouble sleeping, or been sleeping too much; had trouble concentrating and making decisions; and thought about death and/or suicide. Knowing the causes for depression can help depressed people, friends, family understand how painful it is and why it's not possible to "snap out of it". It's still not completely clear why depression happens to some of us and not to others, but their are some triggers: stressful events or a loss, physical illness, hormone levels, and use of certain medications, drugs, or alcohol. Most of us think sadness when we think of depression, but there are other physical, emotional, and mental effects, too. Many depressed people feel helpless, and as if this is the way that they are going to feel forever. They have a lack of energy and a lack of interest in life. It's hard for them to ever imagine feeling happy or excited again. Some may withdraw and be less sociable. They may also become short-tempered and difficult to please. No one can do anything right. The world of depression is a lonely place to be. Physical problems can also occur. Some may have trouble getting to sleep or wake up a lot during the night.

Analysis of the “Doctor in the house” by Richard Gordon

This text is an extract from the book â€Å"Doctor in the house† written by Richard Gordon. He was born in 1921. He has been an anaesthetist at St. Bartholomew's Hospital, a ship's surgeon and an assistant editor of the British Medical Journal. He left medical practice in 1952 and started writing his â€Å"Doctor† series. The novels were very successful in Britain during the 1960s and 1970s. â€Å"Doctor in the House† is one of Gordon's twelve â€Å"Doctor† books and is noted for witty description of a medical student's years of professional training.The text under analysis belong to the psychological type and description type as it is concerned mainly with the emotional actions of the characters. This text is narration with elements of dialogues. The style of written prose is formal. Author mainly uses past tenses, but present – in dialogues. The events in the text refer to the real world and the author seeks to judge the text subjectively. The tex t under consideration is a witty and humorous description of such a hard and important thing in students’ life as their final exams.The author shows us the condition of students before, during and after exams, therefore, the aim of the text is to describe the students’ feelings, emotion and preparations for them. The subject-matter of this text is about sitting for examinations. The author tries to show the reader different actions and feelings during the passing the examinations. The composition of this text consists of the following components: exposition, when the author gives the concept of an examination. narration, when the author describes passing the examinations, an interesting story about passing an examination at Cambridge.climax, when the author shows the examination results. The ending is absent it means that the structure is opened. In that text Author shows us in detail the process of examination, but tries to show it through different actions and feelin gs of students during the passing the exams. The main character is medical student R. Gordon and his student-colleagues. The story takes place at the examination room when their fate is being decided. The atmosphere in the text is filled with tension and pressure that is drawn on hero by the situation and conflict he is facing.We learn about the students well, because the author has created true-to-life characters, even more so the Author was passing the examinations himself. The author proves to be a real master. And he employs a lot of expressive means and stylistic devices to make the story vivid and bright. The text is emotionally moving, and some details produce an emotional reaction. The conflict is to be considered as tension in the story. This particular extract of the book gives us the idea of uncontrollable force impersonated by examinations against the student whose fate is in their hands.At some point oral exam becomes some kind of a lottery for the hero â€Å"to winâ⠂¬  the question he know answer to. However the real answer here is with the hero himself, struggling against his lack of self-confidence which marks the inner conflict and the unfairness of life The type of conflict here is Person and Self. The story is told from first person narration and we can see the situation with his own eyes. The main character – medical student R. Gordon is round and dynamic character. Author tells us about him nothing, because he wants to say that Gordon is an ordinary student.Author uses indirect method of characterization, and we can learn something of him only through his feelings. The general slant of the text, judging from the peculiar usage of epithets and metaphors with intentionally tragic coloring towards common life situations is comic. Let`s simply remember the comparison of written papers exam room with the court hall, the doors of which are flanked by dispassionate porters and the judge sits above all, just the way the invigilator was placed.Another vivid example is the simile of viva waiting room to the condemned cell, which seemed incredibly accurate to the student but to the reader it only proved how very afraid of viva the narrator was. For example by a simile â€Å"the final examinations are something like death† the author shows condition of a student before an examination as close to death, â€Å"like a prize-fighter† also shows a contest, then the author compares, using the simile, the students that want to produce a certain impression and looking at professor like the â€Å"impressionable music enthusiasts gazing at the solo violinist†.Author uses a lot of very bright and vivid similes in order to give us a chance to feel the nerves and stress characters felt – â€Å"My palms were as wet as sponges†. Medical textbooks compared through metaphor to a â€Å"well-trodden paths†. Also the usage of hyperbolas lets us to understand how the hero felt while expecting the results â€Å"room had suddenly come to a frightening, unexpected silence and stillness, like an unexploded bomb†. The author brilliantly uses the allusion referring to the Bible’s Judgment day. We discover that final exams are death and the Secretary as an archangel corresponds where they would go to the paradise or to hell.â€Å"The candidate would step up closely to the Secretary, who would say simply â€Å"Pass† or â€Å"Failed†. Successful men would go upstairs to receive the congratulations and handshakes of the examiners and failures would slink miserably out of the exit to seek the opiate oblivion. † This extract is constructed around the single theme which can be formulated as procedure of the exams. The author uses numerous thematic words, such as: the student, the final examinations, the exams, to prepare, the examiners, cheating, textbooks, to swot up, the written papers, uniformed, examinees, knowledge, tripos, viva, marking, grading, to pass and so on.Besides the basic theme the text touches upon many very important secondary themes: the psychological types of students, cheating at the exams, students’ prejudice, disadvantage of women student at the exams, the psychological pressure of the process of the examination on the students. The main idea conveyed by the author may be expressed as: the final examinations are reason for a great psychological pressure and a real challenge for the students. The following key words can prove it: student, exams, viva, writing papers, contest, prize-fighter, fighting spirit, to hope, to hit, depressing and others.Thanks to an interesting subject this story occupies the reader’s attention. It makes us to empathize with the students and feel their psychological state. But despite of numerous frightful similes we may see ironical slant of text which make it interesting to read. Having read only one fragment from the â€Å"Doctor in the house†, I found that Ri chard Gordon is a talented writer, who could perfectly reflect the students’ emotion avoided usage of cliches and shown the common issue of young people with self-confidence and self-esteem from the angle of irony.

Coffee Analysis Essay

Indtroduction . The history of coffee goes at least as far back as the thirteenth century with a number of myths surrounding its first use. The original native population of coffee is thought to have come from East Africa, and it was first cultivated by Arabs from the 14th century.[1] The earliest credible evidence of either coffee drinking or knowledge of the coffee tree appears in the middle of the 15th century, in the Sufi monasteries of Yemen.[2] By the 16th century, it had reached the rest of the Middle East, Persia, Turkey and northern Africa. Coffee then spread to Balkans, Italy and to the rest of Europe, to Indonesia and then to the Americas.[3  ow are coffee prices currently set? A: Coffee prices are set according to the New York â€Å"C† Contract market. The price of coffee fluctuates wildly in this speculative economy, generally hovering around fifty cents per pound. Most coffee is traded by speculators in New York, who trade approximately 8-10 times the amount of actual coffee produced each year. The single most influential factor in world coffee prices is the weather in Brazil. Droughts and frosts portend shortages of coffee and the price increases. Specialty coffee is often imported at a negotiated price over the C market, which is considered a ‘quality premium’. Most of those premiums never reach the coffee farmer, but rather stay in the hands of the exporter. This creates a disincentive for farmers to increase their quality, as they do not receive the direct benefits of increased investment in producing better coffee. http://www.globalexchange.org/fairtrade/coffee/faq http://www.makingittv.com/Sample-Coffee-Shop-Business-Plan.htm Cost structure Dynamics ofWorld Coffee Prices The indicator Price system established in 1965 by International Coffee Organization (ICO) to provide a consistent and reliable procedure for reporting prices of different types of coffee. The ICO indicator price system is based on the four spate price groups namely, Colombian mild  arabicas, Other mild arabicas, Brazilian and other natural arabicas and Robustas. ICO composite indicator provides a benchmark for price of green coffee. ICO organization collects ex-dock shipment prices data and calculates arithmetic mean. This represents ICO composite indicator. The current ICO composite price (US cents per pound) as listed for March, 2013 is 131.38 cents per pound with a high of 135.30 and low of 128.52 cents per pound. The dynamics/trend of the monthly ICO composite price over 1998-2012 can be broken down into three phases. (Refer Figure 1 in appendix) Phase 1: The average composite price for coffee decreases from $108.95 in 1998 to $45.59 in 2001. Phase 2 begin with an increasing trend line where in average composite price increases from to 47.74 in 2002 and continues the upward swing, hitting the maximum in 2011 at an average composite price of $210.39. 2 Phase 3 starts the decline in 2012 to an average price of $156.34 from 210.39 in 2011 and continues in 2013 where the current average price for the first three months is $131.38. Price-elasticity of Demand For and Supply of Coffee The price elasticity demand is measure to show the elasticity of the quantity demanded of the good or service to a change in its price. IN case of Coffee, Coffee is produced primarily in south american countries and some developing countries but consumed in developed countries.With disruptive weather the supply of coffee is suppressed and hence the price of coffee will rise hence the Price of coffee can be considered volatile. Factors/events that affected the world supply and demand of coffee in 2011-2012. Weather has been rated as one of the top factors affecting the supply of coffee. The countries where coffee is grown is generally humid, disruptive patterns in the weather has caused coffee plant diseases. Some articles have also listed fungus as one of the elements causing decrease in the coffee supplies. Difficulty in growing Arabica plants was also listed as one of the reason for shrinking coffee production. Whereas some positive factors which caused marginal increase in coffee supplies are adding of new producing countries,  investment in advanced technologies and increased in number of coffee producers within the same region. Increase in demand can be associated with emerging new markets such as China which was primarily tea market has now seen a sudden shift in taste. Increase in expendable income due to higher salaries has caused the demand for finer coffee to grow. Major determinants of world coffee prices in 2011-2012 Weather and climate change affect coffee prices more than other factors. Coffee trees require specific climatic conditions to produce an optimum crop. Hence, the Prices remained in high throughout 2011where the average composite price was around $210. 2.4) Porters Five Forces Analysis of the Retail Coffee and Snacks Industry: Threat of New Entrants: Moderate ïÆ'Ëœ There is a moderate threat of new entrants into the industry as the barriers to entry are not high enough to discourage new competitors to enter the market. (Appendix 2 shows Barriers to Entry Checklist). ïÆ'Ëœ The industry’s saturation is moderately high with a monopolistic competition structure. ïÆ'Ëœ For new entrants, the initial investment is not significant as they can lease stores, equipment etc. at a moderate level of investment. ïÆ'Ëœ At a localized level, small coffee shops can compete with the likes of Starbucks and Dunkin Brands because there are no switching costs for the consumers. Even thought it’s a competitive industry, the possibility of new entrants to be successful in the industry is moderate. ïÆ'Ëœ But this relatively easy entry into the market is usually countered by large incumbent brands identities like Starbucks who have achieved economies of scale by lowering cost, improved efficiency with a huge market share. There is a moderately high barrier for the new entrants as they differentiate themselves from Starbuck’s product quality, its prime real estate locations, and its store ecosystem ‘experience’. ïÆ'Ëœ The incumbent firms like Starbucks have a larger scale and scope, yielding them a learning curve advantage and favorable access to raw material with the relationship they build with their suppliers. ïÆ'Ëœ The expected retaliation from well-established companies for brand equity, resources, prime real estate locations and price competition are moderately high, which creates a moderate barrier to entry. Threat of Substitutes: High ïÆ'Ëœ There are many reasonable substitute beverages to coffee, which are mainly tea, fruit juices, water, soda’s, energy drinks etc. Bars and Pubs with non/alcoholic beverages could also substitute for the social experience of Starbucks ïÆ'Ëœ Consumers could also make their own home produced coffee with household premium coffee makers at a fraction of the cost for buying from premium coffee retailers like Starbucks. ïÆ'Ëœ There are no switching costs for the consumers for switching to substitutes, which makes the threat high. ïÆ'Ëœ But its important to note that industry leaders like Starbucks are currently trying to counter this threat by selling coffee makers, premium coffee packs in grocery stores but this threat still puts pressure their the margins. Bargaining Power of Buyers: Moderate to Low Pressure ïÆ'Ëœ There are many different buyers in this industry and no single buyer can demand price concession. ïÆ'Ëœ It offers vertically differentiated products with a diverse consumer base, which make relatively low volume purchases, which erodes the buyer’s power. ïÆ'Ëœ Even though there are no switching costs with high availability of substitute products, industry leaders like Starbucks prices its product mix in relation to rivals stores with prevailing market price elasticity and competitive premium pricing. ïÆ'Ëœ Consumers have a moderate sensitivity in premium coffee retailing as they  pay a premium for higher quality products but are watchful of excessive premium in relation product quality. Bargaining Power of Suppliers: Low to Moderate Pressure ïÆ'Ëœ The main inputs into the value chain of Starbucks is coffee beans and premium Arabica coffee grown in select regions which are standard inputs, which makes the cost of switching between substitute suppliers, moderately low. Strategic Analysis Of Starbucks Corporation Certified coffee under its coffee and farmer equity (C.A.F.E) program, which gives its suppliers a fair partnership status, which yields them some moderately, low power.7 ïÆ'Ëœ The suppliers in the industry also pose a low threat of competing against Starbucks by forward vertical integration, which lowers their power. Intensity of Competitive Rivalry: High to Moderate ïÆ'Ëœ The industry has a monopolistic competition, with Starbucks having the largest markets share and its closest competitors also having a significant market share, creating significant pressure on Starbucks. ïÆ'Ëœ Consumers do have any cost of switching to other competitors, which crates high intensity in rivalry. ïÆ'Ëœ But its important to note that Starbucks maintain some competitive advantage as it differentiates its products with premium products and services, which cause a moderate level of intensity in competition. ïÆ'Ëœ The industry is mature and growth rate has been moderately low which cause the intensity of competition among the companies to be moderately high due to all of them seeking to increase market shaper from established firms like Starbucks. ïÆ'Ëœ This industry does not have over capacity currently and all these factors contribute to the intensity among rivals to be moderately high. Looking at the Porters five forces analysis, we can get an aggregate industry analysis that the strength of forces and the profitability in the retail coffee and snacks industry are Moderate http://scholar.harvard.edu/files/nithingeereddy/files/starbucks_case_analysis.pdf Cost structure 4.1 Introduction Coffee prices fluctuate heavily from year to year. However, coffee prices do not fluctuate proportionally in each stage of the marketing chain. Consumer prices for example fluctuate less than prices of green coffee on the world market. The degree of fluctuation depends strongly on the way prices are determined. When farmers know in which stage of the production and marketing chain their prices are the most resistant to pressure by buyers and sellers, they can select the most profitable position to increase their market power. Section two takes a look at how prices are influenced and by which factors they are influenced. In section three a closer look is taken at the instability in receipts from coffee exports, caused by fluctuations in prices. This is followed in section four by an exposition about the influence of international commodity agreements on world coffee prices. In this section a short history is presented of the International Coffee Agreements (ICA’s). Section five describes how the margin on coffee is distributed over each stage in the marketing chain. The final section of this chapter presents some conclusions about the pricing in the world coffee market. 4.2 Influences on coffee prices When looking at the price pattern of coffee, one notices that prices are not stable. Price instability occurs in the long run, but also short term prices may change. This section takes a closer look at how coffee prices are determined. Determination of prices depends in the first place on the type of prices. World coffee prices are largely set on the futures and forward coffee markets. The quantity traded on these markets is much larger than actual trade in coffee. Prices are determined on the world market by means of speculation and arbitrage. Since coffee prices are influenced by speculation, pricing depends strongly on expectations about future supply and demand. Local coffee prices may differ between several coffee producing countries. According to De Rijk (1980), prices paid to Indonesian exporters at a given world price depend on the quality of the coffee and regularity and reliability of the quality. Other influences on local prices, according to De Rijk, consist of costs, tax es, information on prices and reliability of contracts. For some decades now the coffee market is showing a structural overproduction. This overproduction is one of the causes of the  weak position of coffee farmers. Figure 3.3 shows that exporting countries possess large stocks. These stocks are mostly set up in abundant years and are used in years of general shortage. Shortages in the supply of coffee are often caused by crop failures through natural incidents. The price of coffee is therefore susceptible to frost and drought, which are two of the leading factors in natural causes. Stocks can be kept by local farmers but more often these stocks are kept by large trading companies, which act as arbitrageurs. Trading companies buy at low prices when supply is abundant and they keep it in stock till prices rise. This provides some extra gains to trading companies, besides the normal margins on trading. Local farmers often do not have the financial resources and storage capacity to keep these stocks themselves. Therefore, they have to sell their coffee to exporters at harvest time against low prices. Farmers could have earned higher prices if they had kept their coffee in stock till the market improved. World prices, farmer prices and consumer prices are correlated with each other. Because stocks appear at different stages in the marketing chain, these prices do not fluctuate proportionally. This is shown in figure 4.1. Mostly these price shock s are taken by exporters’ stocks. As has been mentioned before, exporters often possess more financial resources for storage than local farmers. Also consumer prices fluctuate less than world coffee prices. This is explained by the price setting behaviour of coffee roasters. When world prices go down, consumer prices decrease only fractionally. In case of increasing world prices, consumer prices increase to a larger extent than in case of a price decrease. Besides correlation between prices at different stages of the marketing chain, different types of coffee are also related in pricing. Vogelvang, in his 1992 study, tested some hypotheses concerning the long-run relationships between spot prices of the four main types of coffee. Because coffee types are related to each other, some specific factors concerning the coffee market will be relevant here. These factors are the rate of substitution of coffee types, changes in total world supply or demand, and the existence of an International Coffee Agreement. Besides these specific factors, factors that influence all prices, such as world inflation, interest rates and expectations about economic variables, explain relatedness in prices. Vogelvang computes the following long run equilibrium equations: pcm = 0.91 + pua pom = 11.39 + pua prob = -21.47 + pua where prices are measured in US cents per pound. In these equations cm applies to Colombian Milds, om to Other Milds, rob to Robusta and ua to Unwashed Arabicas (Brazilian). The equations show that prices of Colombian Milds, Other Milds and Robusta are linearly related to price behaviour of Brazilian coffee. In his study, Vogelvang concludes that all the coffee prices move together in the long run. Absolute prices therefore deviate with a certain constant. The equations imply that in the long run Colombian and Other Milds are priced 0.91 cents respectively 11.39 cents per pound higher as Brazilian coffee. The Robusta price of one pound of Robusta is 21.47 cents lower in the long run than the price of Brazilian. Hypotheses concerning a relationship between Robustas and Other Milds are not statistically rejected, but results from this study can not prove a strong relation between low quality coffee like Robusta and high quality coffee like Other Milds. 4.3 Instability in export earnings It has been mentioned previously that the proportion of primary products in total exports of developing countries is high. Prices of primary products fluctuate rather strong. Therefore, these fluctuations may have a large impact on export earnings, imports, investment, employment and government expenditures. Instabilities like these may disrupt the economy of these countries (MacBean & Nguyen, 1987, p.88; Sà ¶dersten, 1980, p.249-255). Price instability and earnings fluctuations are interrelated. Yet, they do not fluctuate proportionally. This depends on the values of the price elasticity of demand, the income elasticity of demand and the price elasticity of supply. The price elasticity of demand measures responsiveness of coffee demand to prices. So, it represents the ratio of percentage change in the  quantity demanded to percentage change in price. Similarly, the ratio of percentage change in the quantity supplied to percentage change in price is called the price elasticity of supply. The income elasticity shows how responsive quantity demanded is to a change in income Suppose price elasticity of demand is (-1). Some coffee farmers decide to increase their production. This implies that world coffee supply increases. In a competitive market, coffee prices will decrease and therefore, demand for coffee will increase. Besides the fact that farmers will receive less payment for each bag of coffee, demand and total quantity exported increases. Therefore, the fall in prices has been exactly offset by higher sales, and the farmers’ income will remain unchanged. This conclusion only applies to the world coffee market in its entirety. The outcome may be all different for individual countries and individual farmers. Mostly one or a few farmers are responsible for an increase in supply. These farmers must be able to produce at low costs, since prices will drop below the initial level. Other coffee farmers may also face a lower price per unit. Therefore some marginal farmers may go out of production, causing prices to return to the long term level. Remaining farmers, who did not change production, have to sell the same output against lower short term prices. Because of this, their total returns will be lower and with the same level of costs, their profits will decrease temporarily. The effects of shifts in supply would be larger if there were economies of scale in coffee production. With economies of scale farmers are stim ulated to increase their production, in attempt to reduce their average costs. So, farmers who increase their production earn higher profits at the expense of farmers with a fixed level of production. However, increases in scale are not possible unlimitedly. Mostly this is restricted by the scarcity of fertile land. Price elasticity of demand In general, price elasticities of demand are low when the product has a low income elasticity, has little or no substitutes and forms a small part of the consumer’s budget. The average price elasticity of demand in industrialised countries with respect to retail prices is, according to estimates by the UN Food and Agriculture Organisation (FAO), about (-0.34). This implies that a 1% price increase (decrease) is accompanied by a decrease (increase) in consumption by 0.34%. Estimates with respect to import prices amount to (-0.2). Other studies have indicated an elasticity of between (-0.2) and (-0.3) in high income countries and of between (-0.4) and (-0.5) in lower income countries (EIU, 1995, p.17). http://www.greenbeanery.ca/bean/documents/scriptie.htm http://www.grin.com/en/e-book/111348/coffee-shop-industry-a-strategic-analysis Competitive Forces that impact competition (Porter Model) 3.1 Competition within the Coffee Shop Industry 20,000 stores with annual revenue of ~ $11 billion Highly concentrated at top and fragmented at bottom – Starbucks ~ 75% of sales Major companies: Starbucks, Caribou Coffee, Coffee Bean and Tea Leaf, Diedrich (Gloria Jean’s), Peet’s Coffee Competitors can also be found in other industries (convenience stores, gas stations, quick service, fast food restaurants, gourmet food shops, donut shops, filter ~ / specialty coffee machines for home use) e.g. Dunkin’ Donuts and McDonalds Competition through special offers (new tastes), outstanding service/ environment (internet, music, comfortable seating areas, short waiting queues), loyalty programs (bonus cards ensuring frequency of visits) and for premium locations (retail centers, university campuses, etc.) Conclusion – Competition within the Coffee Shop Industry Strong competition within the industry for new customers, premium locations, etc. but overall the industry is saturated, settled and stable which allows almost all of the competitors to yield very good margins (40 to 60 percent)[4] 3.2 Substitute Products Competition with other drinks that are not the main focus of by coffee shops: Soda, Juice, Water, Beer, Sports Drinks Competition with other products, people are spending their money on: Ice Cream, Cigarettes, Sweets Consumers have limited discretionary budget to spend on consumer goods, such as cigarettes, beer and also coffee; coffee shops are therefore fighting for a fraction of this budget Conclusion – Substitutes in the Coffee Industry Very b power of substitute products as especially young people might prefer other products, such as beer, cigarettes or soda 3.3 Barriers to Entry Rather low entry barriers: easy to open a single small cafà © Rent a place, remodel, install the equipment, get license as needed[5] However there are high entry barriers for the specialty level or big league/chain players High up-front investment needed to grow significantly (distribution system: shops, equipment, premium locations; marketing: creation of brand awareness & brand recognition, customer retention) Strong brand recognition of major players, especially Starbucks Partnerships with large, international companies also serve as potential entry barrier for new competitors – Starbucks with Pepsi/ Jim Beam/ Dryer’s Grand Ice Cream/ Barnes & Noble or Caribou Coffee with Apple[6] (See Exhibit 2). Economies of scale (purchase advantages; centralized HR and Marketing) realized by big players, especially Starbucks à ¨ cost disadvantage for new entrants Conclusion – Barriers to Entry in the Coffee Industry Small barriers to entry for small regional chains / cafà ©s, but their expansion is relatively slow due to the increasing speed of the expansion of the major players High barriers to entry into the industry for big players due to high industry concentration on top, huge brand recognition of major brands and high up-front investments are needed 3.4 Power of Suppliers Volatile Raw Material Costs[7]: Particular dependence on supply of higher-priced Arabic beans (premium coffee) – as imported mostly from developing countries, price varies along with the economical and political situation of the export country Dairy products, whose retail prices vary a lot, used for specialty drinks Coffee Shop Chains have contracts securing price stability For most coffee-exporting countries (over 60 ) that is their only â€Å"source of cash†[8] Higher world market demand and higher prices for differentiated (Gourmet and specialty coffees) and sustainable coffee (organic, fair trade, eco-friendly or shade grown) than for coffee commodity: Farmers not agile enough or don’t have the means to switch production Companies are helping  communities to make the change (train them, purchase at fair trade prices[9] and provide technical assistance)[10] Conclusion – Power of Suppliers in the Coffee Industry Very limited power of suppliers as they depend on producer’s help and sell a commodity. 3.5 Power of Customers High dependency of coffee shop chains on frequency of customer purchases Most customers appreciate the nice atmosphere in the coffee shops Preferences of customers are very likely to switch as they might get bored with / tired of the same flavor (relatively low brand loyalty) Shopping behavior is very likely to be influenced by budget constraints, weather conditions or health concerns in the general public Interested in continuous product innovation or seasonal specialties Essential for success – word of mouth and frequency of purchases[11] Conclusion – Power of Customers in the Coffee Industry Very b power of customers as coffee shops depend on word of mouth and customer retention Furthermore a customer’s opinion, preferences and shopping habits can be influenced easily which creates a big threat for the companies. http://www.grin.com/en/e-book/111348/coffee-shop-industry-a-strategic-analysis Market Structure 2.1 Introduction Markets are characterised by the interaction of buyers and sellers. Generally, economic literature distinguishes two ways of interpreting the ‘market’ concept. These interpretations concern the concrete and abstract concept of markets. The first deals with tangible markets. The latter concerns interaction of supply and demand, without the need of immediately supplying the products or having them in the market place. Section two of this chapter presents four main types of market structures. The type of market structure largely determines the relationship between buyers and sellers. Therefore, it also influences pricing of the product and the  distribution of income between economic agents throughout the production and marketing chain. Section three deals with the reasons why markets might diverge from a situation of perfect competition. This situation of imperfect competition is caused by the presence of barriers to entry. This section presents six sources causing these barriers as mentioned by Michael Porter (1980). Finally, section four draws some conclusions. 2.2 Types of market structure In the introduction of this chapter it was mentioned that the ‘market’ concept has two different interpretations. Next, this study operates the abstract concept of markets, when dealing with market structures. Economic literature distinguishes four main types of markets. These markets are divided into perfectly competitive markets, monopoly markets, oligopolistic markets and markets with monopolistic competition. Each stage in the production and marketing chain considered in next chapters, may be characterised by a different type of market. Before examining the coffee market, this section will deal briefly with each type of market. Perfect competition When economists talk about a competitive market, they mean a market with the following four characteristics: First, the market consists of many small buyers and sellers, where no individual buyer or seller is large enough to influence the market price of their product. Second, the product is standardised, which implies that it is a homogeneous product. Third, there are no entry and exit barriers. Fourth, there is complete and perfect knowledge about technology and market prices (Martin, 1993, p.15). In competitive markets suppliers can sell their products only with short term economic profits. In the long run this situation cannot persist. When suppliers earn profits, i.e. their price exceeds their average costs, new suppliers enter the business and established suppliers increase their output in the long run. Monopoly On the other hand there are markets which are dominated by one supplier. This market structure is called a monopoly. Two things distinguish a monopoly  from a competitive market. First, there is only one single supplier that supplies the market. Secondly, entry by other potential suppliers is blockaded. The first characteristic ensures that the monopolist faces no actual competition. Because of this, the monopolist may choose to supply at any point on the market demand curve. To earn the largest possible profit, the monopolist will choose the output that makes his marginal costs equal to his marginal revenue. His output decision will determine the price of the product, which makes him a price setter. The second characteristic implies that the monopolist faces no potential competition. To restrict other suppliers from entering the market there have to be some barriers to entry (Martin, 1993, p.23-24). These barriers are discussed in more detail in the next section. Oligopoly In a competitive market, each supplier is so small that it cannot affect the price. When the supplier raises its price above equilibrium price, he will loose his sales to other suppliers or new entry is provoked. At the other extreme, the monopolist has no rivals to worry about. The monopolist can raise his price without provoking new entry. Between these two extreme cases there is another type of market. Martin (1993, p.110) characterises this type of market by the presence of a few large suppliers which dominate the industry. These suppliers recognise their mutual interdependence and therefore cannot act as a monopolist. This third type of market is called an oligopolistic market. So, under oligopoly there is intense rivalry. Yet, barriers to entry are present which allow for long term profit (Maddala & Miller, 1989, p.375). Monopolistic competition An essential characteristic of this fourth type of market is product differentiation. Maddala & Miller characterise this market â€Å"by a large number of suppliers, each of which has a little market power because it offers a differentiated product. Yet all the suppliers are in competition because their products are close substitutes.† So, â€Å"there are no barriers to entry under monopolistic competition and, hence, there are no economic profits in the long run† (Maddala & Miller, 1989, p.375). Differences in market structure lead to differences in marketpower. Therefore, within the framework of this study, it is important to picture these differences in market structure among subsequent stages. In chapter five it is shown that these differences can be very large for some of the stages in the production and marketing chain of coffee. http://www.greenbeanery.ca/bean/documents/scriptie.htm

Marshall essays

Europe Without Truman/Marshall essays What would Europe look like 10 years after the end of World War II and today without the implementation of the Truman Doctrine and the Marshall Plan? In order to truly determine what Europe would have looked like 10 years after the end of World War II and today without the implementation of the Truman Doctrine and the Marshall Plan, we would have to borrow a time machine from H.G. Wells. Upon our successful arrival, at a date prior to March of 1947, we would have to sabotage history to the extent that the Truman Doctrine and the Marshall Plan were never implemented. Since time travel is purely fictional and not yet possible, we need to find another method of determination. The next best method would be to look at the intent of the two programs and examine some of their successes. In doing that, we might gain some insight of what Europe might look like in either time period. The end of World War II in 1945 left Europe devastated. Farms, cities, factories and railroads were tattered or destroyed. The European economy was at a point of hopelessness and the peoples belief in the democratic system had eroded. The Europeans were steering their ships on a course towards communism. America had to act quickly if it was to prevent Europe from collapsing into the grips of communism. In March of 1947, Harry S. Truman implemented the Truman Doctrine. The Truman Doctrine was to provide assistance to any country threatened by communism through military and economic aid. This was followed in June of 1947 by George C. Marshalls implementation of the Marshall Plan. The Marshall Plan would provide billions in economic aid to Europe. The economic aid was intended to be used for new equipment and raw materials. The objective was clear, assist Western Europe in recovering quickly and defeat the spread of communism. By implementing these two programs the economy and industry of Europe was restored to near, at, or above pre-war ...

French Direct Objects and Direct Object Pronouns

French Direct Objects and Direct Object Pronouns Direct objects are the people or things in a sentence that receive the action of the verb. To find the direct object in a sentence, ask the question Who? or What?: Je vois Pierre. – I see Pierre. (Who do I see? – Pierre)Je mange le pain. – Im eating the bread. (What am I eating? – bread) Direct object pronouns are the words that replace the direct object to avoid repetition. If it werent for direct object pronouns, we would be saying things like Marie was at the bank today. When I saw Marie, I smiled. Instead, we usually say Marie was at the bank today. When I saw her, I smiled. The use of direct object pronouns makes sentences sound more natural. The Direct Object Pronouns The French direct object pronouns are: Me / m  Ã¢â‚¬â€œÃ‚  meTe / t  Ã¢â‚¬â€œ youLe / l   Ã¢â‚¬â€œ him, itLa / l  Ã¢â‚¬â€œÃ‚  her, itNous  Ã¢â‚¬â€œÃ‚  usVous  Ã¢â‚¬â€œÃ‚  youLes  Ã¢â‚¬â€œ them Me and te change to m and t, respectively, in front of a vowel or mute H. Le and la both change to l. Like indirect object pronouns, French direct object pronouns are placed in front of the verb. Je le mange. – Im eating it.Il la voit. – He sees her.  Je taime. – I love you.Tu maimes. – You love me. General Rules Four main constructions use the French neuter object pronoun. 1. To Replace or Refer to an Idea Contained in an Adjective, Noun, or Clause This is the case in the following examples: Si tu es  satisfait, je  le  suis aussi. – If youre  satisified, I am too.Êtes-vous  amà ©ricain?  Oui, je  le  suis. – Are you  American? Yes, I am.Il est  espion!  Non, il ne  lest pas. –  Hes a  spy!  No, hes not.Il taime. Jespà ¨re que tu  le  comprends. – He loves you. I hope you understand  that.  Ã‚  Je vais me venger. Je  le  jure! – ​I will get revenge. I swear  it! 2. In the Second Clause of a Comparison This is the case after  the words aussi,  autre,  autrement,  comme,  plus,  moins,  mieux. Note that the  ne  which shows up in the second clause of many of these examples is also optional. Il est plus  grand  que je ne  le  croyais. – Hes  taller  than I thought.Cela  vaut  moins que tu ne  le  penses. – Thats  worth  less than you think.Elle est  autre  quil ne  lespà ©rait. – Shes  different  than he hoped.Il nest pas aussi  stupide  quon  le  croit. – Hes not  as stupid  as people think.Ce nest pas gentil de  parler des autres  comme tu  le  fais. – Its not nice to  talk about others  like you do. 3. With Negative Expressions of Opinion and Desire: Ne Pas Penser, Ne Pas Vouloir, Ne Pas Croire Va-t-il  venir?  Je ne  le  pense pas. – Is he going to come?  I dont think so.Allez,  viens  avec nous!  Je ne  le  veux pas. – Come on, come with us! I dont want to. 4. With the Verbs Croire, Devoir, Dire, Falloir, Oser, Penser,  Pouvoir,  Savoir,  Vouloir Comme vous  le  dites,  ce  nest pas juste. – As you say,  its not fair.Viens  quand tu  le  pourras. – Come  when you can.Il pourrait  aider  sil  le  voulait. –  He could  help  if he wanted to. Tips and Notes When a direct object precedes a verb conjugated into a compound tense such as the passà © composà ©, the past participle has to agree with the direct object.   If youre having trouble deciding between direct and indirect objects, the general rule is that if the person or thing is preceded by a preposition, that person is an indirect object. If its not preceded by a preposition, it is a direct object.

Size of financial sector Essay Example | Topics and Well Written Essays - 2000 words

Size of financial sector - Essay Example Moreover, profitability across all the financial sectors has improved except the insurance sector and it is anticipated to remain strong in the first quarter of the year 2015. Unfortunately, for the insurance and the building society the forecast suggests otherwise. The number of employment in the banking and insurance sector has decreased in comparison to other sectors while the training expenditure has risen. Department, I. M. F. M. C. M. (2014) suggests that this is a clear indication of the existence of shortage of skills and talents in the financial labor market. The financial sector has enormously grown over the last decades. Gloria (2015) illustrates that the parameters that measure these growths are: quantity of the financial market; the share of the GDP; wages; and employment. For instance, the economy of the UK has grown faster since the financial crisis of 2007/2008. It expanded by approximately by 1.9% in 2013. The growth is also attributed to the securitization in the financial market; intermediation of credit; and the subsectors of finance in the financial sector. On the other hand, the insurance sector has been steadily growing (at a steady pace). In addition, the growth is also evident in the increase in the financial claims and contracts such as bonds, stock, fund shares, and derivatives. Before the 200/2008 financial crisis, central banks use a simple modality that would effectively maintain and stabilize the inflation rate. However, in 2009 the interest rates were slashed to a level close to zero (zero lower bound). Jeucken’s (2001) notion indicates that below this benchmark would hav e been practical but wouldn’t have achieved the desired results. Central bank faced an uphill task of dealing with the increasing rate of unemployment as well as the collapse in the output. At some instances central banks have adopted the unconventional

Long Term Care Continuum Essay Example | Topics and Well Written Essays - 750 words

Long Term Care Continuum - Essay Example The adult day care program provides support services to impaired adults. Most of the adult centers operate during the day just like business hours while others operate in the evenings as well as the weekend. They also provide medical services as well as rehabilitation therapy. On the other hand hospice care provides care related to the emotional and spiritual mainly to ill patients and their families. These services need involving a big group of people like therapists, social workers, volunteers among others. According to a survey conducted by the National Hospice Organizational in 1999, 65% of patients had cancer. Other diseases present include AIDS, nervous system diseases, and meningitis among others (Katz, 2004). Â  The adult day care program provides support services to impaired adults. Most of the adult centers operate during the day just like business hours while others operate in the evenings as well as the weekend. They also provide medical services as well as rehabilitatio n therapy. On the other hand hospice care provides care related to the emotional and spiritual mainly to ill patients and their families. These services need involving a big group of people like therapists, social workers, volunteers among others. According to a survey conducted by the National Hospice Organizational in 1999, 65% of patients had cancer. Other diseases present include AIDS, nervous system diseases, and meningitis among others (Katz, 2004). Â   The future of long term care will be influenced by a number of forces.