The Importance Of Studying Money Finance Essay

The Importance Of Studying Money Finance Essay Money helps us in avoiding the double coincidence of needs as required by a barter economy and by enabling specialization. However, the money supply has a lot of effects on the well being of its users. Some of these effects can be summarized as inflation, wealth creation/destruction etc. Thus it is very important to study money. Banking and financial markets are intermediaries that help provide a common platform, or a market place, for all individuals to inter act with each other. Banking and financial markets provide liquidity to the system and helps 2 individuals with exactly opposite needs meet on a common platform. Without an apt knowledge of the banking and financial markets, it is impossible to understand how changes around us would affect our wealth and in which way can we best utilize our wealth and help it grow and accumulate. Discuss the advantages and disadvantages of using financial intermediaries. Financial intermediaries help us by bringing together those entities with surplus funds and willingness to lend, with those with a shortage of funds and willingness to borrow. The benefits of such intermediation include; maturity and risk transformation, lesser transaction costs due to higher liquidity, better bargaining power due to alternative options etc. The function of financial intermediaries is to provide these advantages and make a profit while raising the overall efficiency of the economy. The disadvantage of financial intermediation is that such intermediation may be expensive on occasions. As seen in the recent economic crisis, financial intermediaries may also falter on exploiting structural loopholes in greed of higher profits in the short term while posing a threat to the economic stability in the long term. The given computer entry tells us that the Northwestern Energy company has issued bonds on March 15, 2001, with a principal value of $100,000, expiring in 20 years on March 15, 2021 and carrying an interest rate of 6% payable semi-annually. In the event of interest rates rising for new bonds issued in to the market for the same quality, it would imply that the bonds issued by Northwestern will be relatively expensive and thus less attractive than the newer bonds. Therefore, the value of the Bonds issued by Northwestern will have to fall to an extent that the yield on the bond becomes equal to the yield of the newer bonds issued. In making this inference we are assuming that the yield and interest rates are same. Friedmanà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s belief that when Fed lowers interest rates, they fall but do not stay lower for very long, reiterates his belief that in a free economy, the market always sets up at an equilibrium. Even though, there may be interventions by monetary authorities desired to accomplish certain goals and objectives, such intervention only leads to a temporary imbalance in the demand and supply attributes and over a longer period of time, the market resets itself to equilibrium. In the graph above, we assume that Dd is the initial money demand curve and Ss is the initial money supply curve. Thus, at equilibrium i* is the market determined interest rate and Q* the money supply and demand. Now, if the central bank authorities bring this interest rate down to say ia, a new but short lived equilibrium is formed due to the shift of the supply curve from Ss to Ssa. At this equilibrium, the demand curve has not yet responded to the change in Fed rates. Now as per Friedman, due to a lower interest rate, the liquidity in the market increases, thereby pushing the income of individuals northward. With higher level of incomes, inflation sets in due to a shift in the demand curve from Dd to Dda and the price levels begin to rise to offset the increase in income. Since inflation is a component of interest rates, the interest rates also rise proportionately in order to reset the market at another equilibrium where, in the example above, i* is the equilibrium interest rate and Q*a is the equilibrium money supply and demand. A company that has never received a bond rating will have to contact the rating agency, say Fitch, first. Once the agency is contacted, a credit analyst collates and gathers information required to determine risk to investors who might own or buy the bond. The kinds of information that are to be dispersed are background and history of the company/entity, industry trends, management vision/mission, experience, track record, and attitude towards risk, organization structure etc. He then analyzes the information on hand and develops a conclusion in committee on the appropriate rating. The analyst may also seek explanations and clarifications in to business procedures and audit some financial statements. After the rating is finalized, the agency monitors the security on an ongoing basis. In 2009, the Fed and the treasury were facing the most difficult times they have had to face since the great depression. On 19th March 2009, Fed decided to expand its balance sheet by a US$1,000,000,000,000. The Fed announced that it would inject up to $750 billion in Agency MBS that year. This was over and above an earlier commitment of $500 billion. Fed also announced the buying in to Agency bonds for $200 billion. It further declared that it would purchase up to $300 billion of longer dated Treasuries over the term. So, what was the fear behind such drastic measures? Answer is deflation. Earlier that year in January, Fed took the historic step of cutting the benchmark interest rate to as low as zero. They also called for greater government spending to help revive the economy. Such drastic measures were the result of the failure of Fed efforts like record rate cuts, emergency lending programs and backstops for debt markets, to halt the crisis.

No reader of The Woman in Black, can be left in doubt about its conscious :: Free Essay Writer

No reader of The Woman in Black, can be left in doubt about its conscious evocation of the Gothic ‘No reader of ‘The Woman in Black’, can be left in doubt about its conscious evocation of the Gothic. It is full of motifs and effects associated with that genre.’ How far would you agree with this statement of the novel? There is absolutely no doubt that Susan Hill consciously evocates the Gothic in ‘The Woman in Black’. There are many obvious conventions she uses that create a great Gothic effect throughout the novel. It is clear that this novel contains most of the elements that constitute the genre, for example, an eerie atmosphere full of mystery and suspense, and a character feeling high or overwrought emotions. This concludes the novel into a sub-genre of the Gothic, a ghost story. The Gothic has been active since the eighteenth century; the genre was especially popular within the years of The French Revolution and The Great Terror, which fell between 1789 and the 1790’s. The Gothic can also be traced back to the original Goths, who were believed to have been around in the last days of the Roman Empire. However, there is no substantial proof as the Goths left almost no written records, and were mostly unheard of until the ‘first Gothic revival’ in the late eighteenth century. In Britain this revival involved a series of attempts to ‘return to roots’, in contrast to the classical model revered in the earlier eighteenth century. It is believed that the very first Gothic novel was invented solely by Horace Walpole, when he wrote ‘The Castle of Otranto’ in 1764. This novel was imitated throughout the following centuries because it contains essentially all the elements that comprise the Gothic genre. It is also believed to have influenced writing, poetry and film making to the present day. Other key Gothic novelists of this period that would also have contributed to this influence are Mary Shelly, the author of Frankenstein, which has had many film adaptations within the last century produced from it. And also Bram Stoker who wrote Dracula, which I think has an influence in ‘The Woman in Black’ as the narrator ‘Arthur Kipps’, has many similar characteristics to the narrator of Dracula, ‘Jonathan Harker’, such as them both being portrayed as commonsensical, rational, successful lawyers on a mission to single-handedly unravel the mystery they’re faced with. Ann Radcliff’s idea of Gothic horror has also clearly influenced ‘The Woman in Black’ too, because we notice our narrator on several occasions, contracts, freezes and is nearly annihilated by some unknown supernatural force. Arthur’s first encounter with The Woman in

How well does Zara’s advantage travel globally? Essay

Zara has several advantages when it expands its operation in global markets. Firstly, Zara has always promoted its products via its stores and it had its own centralized distribution center which will translate to low advertising and logistics costs when it enters new markets. As opposed to its competitors who would invest heavily on advertising and organize a distribution system. Secondly, apparel retailing was witnessing increasing concentration which would benefit Zara when it entered new markets. Thirdly, there was more homogeneity in fashion which supported Zara’s brand of clothing since its target market is consumers receptive to fashion. Moreover Zara has an adequate system of knowing local trends and tastes which it would reflect in its designs. The strategy of opening one store for information gathering in the initial phase of entering new markets is one of its key strengths. Lastly, economies of scale were another advantage for Zara when entering a new market. The International strategy of Zara. After opening its first store in La Coruna in 1975, ZARA expanded within the domestic market during the 1980s. International expansion started with the opening of a store in Oporto, Portugal in 1988 (Carmen & Ying 2009). Currently, ZARA is already operating over the five continents with over 1,700 stores. International sales accounted close to 70% of its total turnover, with Europe being its largest market by far. ZARA has been identified as a trans-national retailer (Alexander & Myers 2000). On the surface, this may appear as a peculiar classification since they appear committed to a highly standardized operating formula which provides little opportunity for market responsiveness. Analysis of ZARA’s internationalization strategy would indicate otherwise (Bruce, Moore & Birtwistle 2004). While the brand image is highly standardized, its product development and merchandising strategy are very flexible and allows for the integration of pan-national fashion trends as soon as it emerges. This is evident by its approach to trading in the British market. ZARA recognizes the appeal that their Spanish origin provided for its brand and clearly  understood the distinctive positioning they had within the United Kingdom as a fashion forward retailer. The company therefore focused upon the more fashionable lines within their British stores. Pricing policy within the United Kingdom has been more upscale than their home market in order to exploit their advantages within the British market. Best way to grow for Zara Zara is the meaning of â€Å"instant fashion†. Instead of creating demand for new trends and using fashion shows, Zara uses another method. They study the demands of the actual customers in their stores and then deliver that design at very high speeds. They save tons of money on their delivery methods. I would say they are very much ahead of the fashion market in terms of production and sales. Zara is the number 1 most profitable out of 8 other companies in the Inditex Group. Their production cycles are much faster than H&M. In 1 year Zara launches 11,000 new items compared to 2,000-4,000 from H&M. Over the next 4 years the brand plans to double in size opening over 4,000 new shops. They plan this expansion to mostly start out in Europe before pushing anywhere else.

The Burger Boy

The Burger Boy The case study is about a fast food restaurant experiencing several problems that have affected its productivity. Workers have different responsibilities. However, due to the absence of two employees, some of them are forced to work more. The problems are indicative of the poor working conditions at fast food restaurants.Advertising We will write a custom case study sample on The Burger Boy specifically for you for only $16.05 $11/page Learn More Employees are poorly compensated even though they serve a large number of customers especially during breakfast and lunch hours thus overworking. Employees yell at each other because they are under pressure while doing their job. The Burger Boy has experienced several problems that have affected the output, efficiency, and effectiveness of the employees. In addition, these problems strain relationships between the employees. They include the lack of employee motivation, interpersonal conflicts, low morale, poor comm unication, poor performance, poor leadership, and employee dissatisfaction. Some employees do multiple jobs due to the lack of clear distribution of duties and employee absenteeism. Poor communication among the employees causes interpersonal conflicts and poor leadership. The employees yell at each other and the manager treats them disrespectfully. There is also a lack of job evaluation because the employees receive low compensation even though they overwork. The manager does not hire additional employees to reduce the workload. The number of employees required for Friday rush is 13. However, only 8 are present, and moreover they overwork without the additional payment. Most of these problems are associated with compensation. They include the lack of motivation, poor communication, interpersonal conflicts, disgruntlement, and poor performance. One of the most effective methods of motivating employees is offering them adequate compensation based on the amount of work done. However, t he employees at the Burger Boy are poorly compensated even though they overwork. For example, due to absenteeism, some employees are forced to help their colleagues. The manager (Otis) breaches the psychological contract by declining to let Marge go home.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More He declines to let her leave because there are many customers who need services. The employees dissatisfaction due to low compensation is also a cause of poor communication. Interpersonal conflicts between the employees emanate from poor communication. They shout at each other because they are in bad moods. Their low productivity is evident from the amount of time it takes to serve a single customer. Usually, it takes two minutes and thirty second but they are taking three minutes and five seconds. This problem has also resulted from understaffing. Instead of the thirteen emplo yees that work during Friday rush, only eight are present. One of the signs of poor compensation is the decline in the employee morale and the conflicts among employees. Rewards are important because they increase the employees’ motivation and consequently increase their performance. However, the employees at the Burger Boy do not receive any kind of rewards. Rewards could help to solve several problems including job dissatisfaction, low morale, and poor quality of work. Employee dissatisfaction is evident from the employees’ tendency to complain about their jobs. Many employees are dissatisfied because they overwork and are undercompensated. For example, Marge is forced to abdicate her work because her shift is over even though more customers are trickling in. Besides, Leon complains to Otis and says that he is vexed by the inefficiency at the workplace because the employees who work during lunch shift do not stock items as required. In response, Otis tells Leon that he is tired of his whining and storms out of the office and goes home. He also complains of low wages. Otis is a poor leader because communication between him and employees is very poor. Poor leadership leads to negative employee attitudes and relationships. These problems can be solved by establishing employee reward programmes. To improve employee morale, it is important for employers to establish fair compensation packages and reward programmes. Otherwise, productivity, efficiency, and job satisfaction decline considerably.Advertising We will write a custom case study sample on The Burger Boy specifically for you for only $16.05 $11/page Learn More Additional hours of work are incentives that employers use to reward those employees whose performance is exceptional. It is similar to overtime. However, it involves working for additional hours besides overtime. Additional hours of work rewards are only effective if an employee is comfortable with the compen sation offered. Chuck was not happy with working for 30 hours per week because he was dissatisfied with his job and had low morale. Chuck complains about the low staffing because he is aware that he will do more work than it is required of him. With the amount of work done at the pay window, Chuck was probably not happy with working 33 hours per week. Newman was happy working 20 hours per week probably because he was satisfied with his work. In addition, he was comfortable with his compensation. Schedules may be used as rewards by allowing employees to work during their most favorable hours. Employers could allow employees to set their own working hours depending on availability and commitment to other responsibilities such as family and education. In addition, the employers could create flexible schedules that give their employees enough breaks and rest. It is important for the employees to get enough rest in order to avoid burnouts and stress that reduce performance.

The 1969 Redstockings Abortion Speakout Protest

The 1969 Redstockings Abortion Speakout Protest In 1969, the members of radical feminist group Redstockings were furious that legislative hearings about abortion featured male speakers discussing such a crucial womens issue. They, therefore, staged their hearing, the Redstockings abortion speak-out, in New York City on March 21, 1969. The Fight to Make Abortion Legal The abortion speak-out took place during the pre-Roe v. Wade era when abortion was illegal in the United States. Each state had its own laws about reproductive matters. It was rare if not unheard of to hear any woman speak publicly about her experience with illegal abortion. Before the radical feminists fight, the movement to change U.S. abortion laws was more focused on reforming existing laws than repealing them. Legislative hearings on the issue featured medical experts and others who wanted to finesse the exceptions to abortion prohibitions. These experts talked about cases of rape and incest or a threat to the life or health of a mother. Feminists shifted the debate to a discussion of a womans right to choose what to do with her own body. Disruption In February of 1969, Redstockings members disrupted a New York legislative hearing about abortion. The New York Joint Legislature Committee on the Problems of Public Health had called the hearing to consider reforms to the New York law, then 86 years old, on abortion. They roundly condemned the hearing because the experts were a dozen men and a Catholic nun. Of all women to speak, they thought a nun would be the least likely to have contended with the abortion issue, other than from her possible religious bias. The Redstockings members shouted and called for the legislators to hear from women who had had abortions, instead. Eventually, that hearing had to be moved to another room behind closed doors. Who Gets to Speak The members of Redstockings had previously participated in consciousness-raising discussions. They had also drawn attention to womens issues with protests and demonstrations. Several hundred people attended their abortion speak-out in the West Village on March 21, 1969. Some women spoke about what they suffered during illegal â€Å"back-alley abortions.† Other women spoke about being unable to get an abortion and having to carry a baby to term, then have the child taken away when it was adopted. After the Demonstration More abortion speak-outs followed in other U.S. cities, as well as speak-outs on other issues in the subsequent decade. Four years after the 1969 abortion speak-out, the Roe v. Wade decision altered the landscape by repealing most abortion laws then in effect and striking down restrictions on abortion during the first trimester of pregnancy. Susan Brownmiller attended the original 1969 abortion speak-out.  Brownmiller then wrote about the event in an article for the  Village Voice, Everywomans Abortions: The Oppressor  Is Man. The original Redstockings collective broke up in 1970, though other groups with that name continued to work on feminist issues. On March 3, 1989, another abortion speakout was held in New York City on the 20th anniversary of the first.  Florynce Kennedy attended, saying I crawled off my death bed to come down here as she called for the struggle to continue.

Folklore in two cultures (Cultural Anthropology) Essay

Folklore in two cultures (Cultural Anthropology) - Essay Example This paper will describe and evaluate examples of folklore in Irish culture and Bhutan culture, in order to determine the values they convey while at the same time being entertaining and instructive. Bhutan, in the mountains of the Himalayas and bordered by India and Tibet, is still very much an oral society (Penjore, 2005) today, and one that is absorbed in their traditions with most people wearing traditional clothes (Mystic Bliss). One of their most prevalent folktales is the story of a man called ‘Meme Haylay Haylay’ and his turquoise stone (Penjore, 2005, p.259). The story tells of an old and impoverished man who finds a turquoise stone while digging in his fields. On his way back home he meets a variety of men with whom he makes a number of different trades; he trades his turquoise for a horse, the horse for an ox, the ox for a sheep, the sheep for a goat, the goat for a rooster, and finally he trades the rooster for a song. Singing his song and continuing his jour ney home he feels he is the happiest and richest man in the world (Evans, 2010, p.12). As this story is relayed by different people the ending changes in a number of ways, dependent on how they prefer to interpret the tale (Penjore, 2005) in terms of whether they consider the old man as foolish or as the provider of the secret to happiness. In another version he trades the rooster for a flute; while playing the flute he slips in a wad of cow dung and forgets how to play it and thus ends up with nothing (Penjore, 2005). Whichever version is preferred however, they are used as a satirical account of sound or bad business decisions and the making of profit, and thus while being a form of entertainment in their humor to be enjoyed by all who are listening, they are more importantly a vehicle of instruction; if taken from the perspective that the old man made sound business decisions by appreciating the futility of finding happiness with material possessions and wealth, the ridicule pert ains to the other men who traded their happiness for material possessions. If on the other hand, it is told with the belief that the old man is foolish, then it is used as evidence for bad business practice and one not to be imitated (Penjore, 2005). Within the folklore of Irish culture there is much reference to little people, of which the leprechaun is probably the most famous. Leprechauns are described as small, clever and roguish men who lived in Ireland before the arrival of the Celts. The story tells of these little men about two feet tall with green or red coats and leather aprons, working as shoe makers, hammering away all day long. Leprechauns are said to be unfriendly and miserly and while working on making their shoes, store all their money in a pot which they hide at the end of a rainbow. If you catch one of these leprechauns he will lead you to the pot of gold but if you take your eyes of him, even for an instance, he will disappear with the pot of gold. Also, if you fi nd the end of a rainbow you will find a pot of gold. Such a folktale is obviously entertaining, especially for children, and has been passed down through generations, and like the Bhutan folktale, is concerned with wealth. This tale however, illustrates the futility of believing that money and richness come easily but instead, like the leprechaun, people must work hard and save

How effective was the persecution of the Christians for the Romans Essay

How effective was the persecution of the Christians for the Romans - Essay Example Christianity was not begun within the social spheres of the more prominent people of the time period. The beliefs were spread through the impoverished, the lesser citizenry of Rome, and through connecting to the needs of those who were suffering. Therefore, those who believed became a threat to those who were satisfied with the state of society. One of the ways in which to eradicate the belief, or so thought those of prominence within the Roman Empire, was to martyr believers. The problem with creating a martyr is that a rallying point is created. Thus, the martyrdom of Christians within the Roman Empire became an act that helped to promote the beliefs, rather than a way to eradicate them. Because of the persecution of the Christians by the Romans, the religion found power within the martyrdom of its people, thus giving it needed sympathy which allowed for the beliefs to be spread further. The Christians of the first centuries were the anti-establishment group that came up against a goliath of a political system that was defined by its ties to the ritualized worship of the Roman people to the pagan gods. Christians refused to participate, putting their own beliefs above Rome, thus becoming enemies of the state. An example of the persecution of Christians can be found through the experiences of Vibia Perpetua through the firsthand account of Tertullian. Through understanding the sympathy that is created through the terrible events of the persecution, the psychology of martyrdom can help to explain part of the way in which the plight of these early Christians helped to further the expansion of the religion. Christians: The Hippies of Rome Despite the desire to eradicate the Christians, this was not an action that originated because of an objection to that belief. Nero used the Christians as a scapegoat in order to find a plausible criminal element behind the fire in Rome, although Tacitus wrote that Nero had ordered the fire (Cairnes, 1996, p. 27). Tacitus (109 A .C.E.) stated that â€Å"Therefore to stop the rumor, he falsely charged with guilt, and punished with the most fearful tortures, the persons commonly called Christians† (p, 286). Christians were used, according to the belief of Tacitus, which suggests was the common belief of the time period, as a scapegoat in order to alleviate political pressures. The first emperor of Rome to begin widespread persecution of Christians was Domitian (81AD to 95AD), the last emperor of the Flavian Dynasty. Belief was not an issue with the Romans, but the refusal to honor the emperor through sacrifice and to confer to him proclaimed divinity provided a fuel with which to separate the empire from the Christian sect and to begin retribution for this insult (Peters, 2005, p. 246). However, the close association with the Jewish community in Rome did not help the Christian cause. The Jewish community, during Domitian’s time, had refused to pay a tax that was to support the Capitolinus Jupite r. The Christians were the easier target to punish, although why it was effective as punitive to the Jewish community is unclear. One of the most potent uses of the Christian ‘plague’ in Rome was to focus on their participation in the economic difficulties of the age. One of the examples that can be appreciated is that the lucrative idol making business was harmed by the lack of