The Federal Reserve System Essay Example | Topics and Well Written Essays - 750 words

The Federal Reserve System - Essay Example The Federal Open Market Committee (FOMC) consists of the Board of Governors and Federal Reserve Bank Presidents. The FOMC is the monetary policymaking body that creates policy designed to stimulate economic growth, full employment, stable prices, and a sustainable pattern of international trade and payments. It makes responsible decisions concerning the open market operations. In addition, the FOMC directs system operations in foreign currencies. The Board of Governors makes decisions regarding cost and availability of money and credit in the economy. The Board regulates banks, contributes to the monetary policy, and oversees the activities of the Federal Reserve Banks. Members of the Board of Governors include Ben S. Bernanke, the Chairman; Roger E. Ferguson, Jr., the Vice Chairman, Susan Schmidt Bies, Mark W. Olson, Donald L. Kohn, Kevin M. Warsh, and Randall S. Kroszner all of whom are responsible for discount rate and reserve requirements. The responsibilities for discount rate policy are shared with the Federal Reserve Banks. In 1976, the Consumer Advisory Council, consisting of consumer and creditor representatives was established to advise the Board of Governors on consumer related issues. Before the appointment to the Board of Governors, Bernanke was one of President Bush's top economic advisers. He received his bachelor's degree in economics from Harvard and his PhD for MIT. He was a professor at Princeton University and chair of the Economic Department. As a member of the Federal Reserve Board, Bernanke is the first new Fed chairman in nearly two decades. The Federal Reserve Banks conduct research on the economy, supervise banks in their region, and provide financial services to banks and the United States government. They hold cash reserves for depository institutions and make loans to them; move currency and coins in and out of circulation; collect and process millions of checks daily; provide checking accounts for the Treasury; issue and redeem government securities; and are the fiscal agents for the United States government. The Federal Reserve Bank districts include: Atlanta, GA; Boston, MA; Chicago, IL; Cleveland, OH; Dallas, TX; Kansas City, MO; St. Louis, MO; Minneapolis, MN; New York, New York; St., Philadelphia, PA; Richmond, VA; and San Francisco, CA Simplistically speaking, monetary policy is used to control the cyclical fluctuations in the economy. It influences economy activities, by manipulating the supplies of money and credit, thus altering the federal funds rate. Using the three monetary tools - open market operations, discount rate, and reserve requirements, the Fed regulates the money supply. Each affects the amount of funds in the banking system. The open market operations are the purchases and sales of United States Treasury and federal agencies securities. When the Fed desires to increase reserves, it buys securities and to decrease reserve, it sells securities. Such transactions affect the amount of money and credit banks posses, which affects the interest rates and the performance of the United States economy. The discount rate is the interest charged to commercial banks and other depository institutions for loans they receive from their regional Federal Reserve Banks. When the discount rate increases the amount lending made by banks

Evaluation of Research Methodology Essay Example | Topics and Well Written Essays - 3000 words

Evaluation of Research Methodology - Essay Example We will examine the different types of approaches and methods that favored by all the three types of researchers. We will discuss quantitative-qualitative debate and examine the advantages and disadvantages of both the methods. These research styles are set within their philosophical, political and practical context. During the discussion there is an emphasis on the need to adopt a critical and reflexive approach to research. In the process of discussion we will evaluate all the three main research methods. We will also look at the possibilities for combining different approaches and methods in the same research project through a process. This multi-method approach and strategy would argue that this is helpful for researchers in seeking to reduce the impact of personal bias and maximize validity in research. While it is difficult to define precisely what social research actually is, there are certain aspects of the nation 'research' which can largely be agreed upon. The first of these is that researches is not an arbitrary activity, but follow certain rules and procedures. There are many types of research method available, and some of these in common usages include for instance social surveys, experiments, observations and depth interviews. Further more, we are interested in generating information of sorts, either to develop further insights into an area - to explain or explore a particular phenomenon - or to solve a problem, perhaps at work or in our local community. Various research methods: Research methods are conventionally divided into quantitative, qualitative and participatory research methods, each with differing underlying approaches, tools and techniques, faced with the glowing claims of proponents and often strident critiques and counter - claims of opponents, one would be forgiven for thinking that they belong to different words traditional disciplinary divides are, however, becoming increasingly breached. More over new tools and new solutions to short comings of old tools are continually being developed. The different methods can be integrated into a coherent research process, which builds on the relative strengths and weakness of each. Underlying the discussion are assumption about the main criteria for choosing between methods: the relevance of the information to the questions being asked and to the context; the reliability and credibility of the information and analysis; the ethical considerations in both means and ends of researc h; the manageability in relation to skills, resources and time available.Quantitative method: Quantitative, Qualitative and Participatory approaches have different disciplinary origins, and have developed distinctive tools and each and each has developed its critique of the other approaches (Hulme, 2000; Kanbur, 2003). In development research, quantitative methods have typically been the main focus, with qualitative and participatory methods often relegated to desirable frills. This is partly because of the overwhelming

Explanation of a Professional Soldier Essay Example | Topics and Well Written Essays - 1500 words

Explanation of a Professional Soldier - Essay Example It is evidently clear from the discussion that profession has internal monitoring methods, internal policing systems such as the State Medical Board, or the American Bar Council, whose aim is to protect both the general public and the standards of their chosen vocation. It means being skilled, trained, and academically prepared for work. Someone just calling himself a professional does not make them so – their ability requires proof – which is why so many professionals display certificates and diplomas in their offices. The wider society is reliant upon professionals and the standards they achieve and maintain. The individuals concerned develop expertise in their chosen field and then use that ability in the interests of individuals and of society. There are of course craftspeople who are also trained, and even certified to carry out their work, but there are subtle differences. If a carpenter, for instance, makes a substandard piece of furniture, either he won’t be able to sell it or someone who does buy will eventually find fault with it. If on the other hand, the person is a medical professional or a lawyer, then his or her incompetence will impact negatively in a more serious way upon the lives of others, as well as perhaps resulting in him being judged incapable by a professional body and may be banned from practicing. A soldier is most simply someone who belongs to an army, someone who follows the profession of arms, in particular, combat on land. They are one of much military personnel serving together as part of a team and with a particular place in a hierarchy. As a group, they provide the society to which they have linked the security and protection that they are unable to provide for themselves. A soldier may have enlisted voluntarily, or been compelled in some way to serve, as when soldiers are called to serve their country in a time of war. Almost always they wear the insignia and uniform of that country as well as of the parti cular corps, regiment or another part of the army to which they belong. They are expected at all times:- To live, act and speak in a manner which leaves no doubt that they adhere to the traditions of the United States army; their mission of resisting enemy attempts †¦. Whether a relatively new recruit or along officer of high rank, and whatever his specialization or assigned task, whether radio operator or engineer, sapper or cook, he is still basically a soldier. Usually, he is paid for his services – the word soldier has its roots in the Latin word Solidum or pay. What does a soldier do? He does whatever is required of him by his leaders –to produce strategies to attack enemies, to defend places and people, to guard and protect, to act as peacekeepers and police – all of these can be aspects of the profession of arms. Signing up as a soldier means agreeing to do these things in a whole variety of situations - at home and abroad. Serving as a professional soldier brings these two complementary aspects of the phrase ‘professional soldier ‘ together. Professionals earn status and the trust of their clientele through their continual maintaining of high standards. Their clientele trusts them to act on their behalf. The document from the United States Army, ‘

Critically evaluate the advantages and disadvantages of universal and Essay

Critically evaluate the advantages and disadvantages of universal and contingent approaches to human resource strategy. Give examples to illustrate your answer - Essay Example Since the human resources act as the cornerstone of an organization, that may enhance its productivity and total sale as well as strengthen the brand image and reputation in the market among others. Not only this, the position and supremacy of an organization might also get enhanced only if the employees and the leaders work optimistically and efficiently. Moreover, the brand value and position of the organization might get enhanced thereby amplifying its profitability in the market among many other existing rival players. Other than this, the organization might retain its portfolio in this competitive market only if it implements all sorts of universal or best practices within the organization in an effective way. Such practices might amplify the inner skills and talents of the employees that may boost their level of performance and total output of the organization to a significant extent among many other co-players. This essay is divided into five phrases mainly highlighting the importance of universal and contingent approaches within an organization. Along with this, it also discusses the pitfalls of implementing such types of approaches with an organization with relevant examples as well. In order to maintain the efficiency and dominance in this aggressive market, the most essential strategy is extensive planning and scheduling of the human resource needs and requirements. By doing so, the organizational management might understand the desired requirements of the work-forces to accomplish the future goals and objectives of the business group. Apart from this, with the help of this type of planning’s, the organizational management might attain a link among human resource management and overall strategic planning of the group. This might prove effective for the organization to analyse the working capabilities of the existing work-forces, the type of

British Construction and Property Industries Assignment

British Construction and Property Industries - Assignment Example The property industry is a vital component of a successful economy, and an important route by which a Government can achieve the delivery of many of its cherished policies such as: entrepreneurial success, urban regeneration, social inclusion, environmental improvement and savings and pensions reform. This paper discusses the economic organisation of the British construction and property industries and the government macro economic policy. British construction and property industries are is being faced with demands to make rapid changes due to changes in procurement strategies, government-led reform initiatives and heightened fields of international competition. These changes are aimed at helping tackle any problems arising from the reforms and to forecast the levels of project success, while attempting to solve problems related to predominance of personal capitalism which imply weak organisational capabilities. The concept of mutual objectives demand that each team thinks while focusing on the immediate objectives, through the process, to the end objectives. Improved efficiency can for example be thought of in terms of cooperation, fast construction can be achieved by avoiding hold ups, critical path programs must be ensured for timely completions, while shared risks are sensibly agreed on. Cost reduction measures include continuous improvement strategies and reasonable profits are achieved through sound forecast and progress prediction. To minimize legal costs, the parties must implement sound dispute resolution procedures and a sense of good public relations can be achieved by being proactive. A prior agreement on the sharing of profits must be in place to facilitate any related procedures. Quality assurance and total quality management offer ways of ensuring a reliable product quality, which is enhanced by the reliable flow of design information and any related cooperation. The basic idea in improving the construction industry is implied therefore as offering tendering on the basis of scrutinized long term affiliations based on clear measurement of prior performance-"benchmarking and quantified measures" and sustained quality and efficiency improvements. 1 A Task Force headed by Sir Egan believes that the way forward to achieving the ambition of a modern construction industry lies in commitment. They believe that: "Commitment from major clients to fulfil their responsibility to lead the implementation of our agenda for dramatically improving the efficiency and quality of construction Commitment from the construction industry to work with major clients to deliver the significant performance improvements that are possible, and offer these to the occasional and inexperienced clients Commitment from Government to create and sustain

Avente Garde Essay Example | Topics and Well Written Essays - 1750 words

Avente Garde - Essay Example It is also art or theatre at its most radical form, hostile to other artistic or conventional forms. It rejects the accepted social values and beliefs and condemn traditionally accepted artistic forms, ridicule the social order for which the society is used to and to put it succinctly, it believes in shocking its viewers. It is always searching for new arenas, and never satisfied with what is already accepted. "However, beneath this diversity there is a clearly identifiable unity of purpose and interest (at least in the theatre) which has all the characteristics of a coherent trend, since its principles can be shown to be shared quite independent of direct influence," Innes (1993, pp2-3). Avant garde is recognized with the postmodern theatre. Postmodern theatre is considered to be the recent phenomenon in the theatre world, connected with the European post-modern philosophy of the 1960s, naturally, which created many radical movements almost in every field. "The radical movement of the sixties constitute one of the most interesting social phenomena of this century; by insiders and outsiders, and what emerges is a confused picture in which elements of pacifism, civil rights agitation, anti-Vietnam sentiments, sexual liberation, feminism, and other forms of antiauthoritarianism are chaotically thrown together," Erwin (1988, p.15).It is different, revolutionary, unprecedented, a movement away from everything that is already established in the theatre. It has completely unconventional and subverted ways of seeing and portraying the world, and each performance becomes a dramatic spectacle of the so called Chaos Theory, and audience invariably find themselves participating in it, improvising it and bettering the dialogues. This can be called the avant-garde theatre movement of our times, far removed from the usual mainstream theatre. Postmodernists would be horrified at any such suggestions that they are even remotely connected with it! The aesthetic experience of the theatre, even though it is avant garde, does not diminish, only for the simple reason that it is unconventional. It has the power of holding the attention of its audience, and many times, the audience directly participate in it, creating an unreal situation, where they are transported into another era and back to the present era with a rude jerk and this way their experience is more authentic, compared to the one they would have had as mere spectators. It is impossible to believe that as ordinary spectators, they could have experienced the total identity with the play any better. Theatre, under postmodernism, is neither objective nor passive. It is crying for the audience participation and new experiences as part of the play. One such ensemble, the Wooster Group, consisting of modern artists working with Elizabeth LeCompte as their director, have cultivated new forms of production, presentation, and theatrical expression, dance and movement, and has created many pieces of production, which have earned appreciation, though not initially. It has also shown that however outrageous the new forms look in the beginning, slowly, it would create an audience of its own, and the new generation, whether they have logical reasons for appreciating it or not,

Substance abuse counseling Essay Example | Topics and Well Written Essays - 1000 words

Substance abuse counseling - Essay Example The Occupational Outlook Handbook 2010-2011 edition stated that ‘persons interested in counseling should have a strong desire to help others and should be able to inspire respect, trust and confidence.’ This description would eliminate persons who are not people oriented or those who tend to be intrinsic or selfish in their desires. Apart from the requirements stated in the handbook it takes someone who possesses a strong character, a strong will and one who is able to separate himself from the problems of his client yet is caring enough to use all the facilities at his disposal in the search for a solution. The counselor should someone with a genuine interest in persons having this type of mental order. A person without this strong conviction will easily become frustrated in the face of challenges and problems associated with substance abuse counseling. The situations are often challenging so a counselor should be someone with great courage, having excellent interpersonal skills. One of the qualifications as outlined in the handbook is that a counselor must possess high physical and emotional energy. This is needed to deal effectively with the stressful cases and situations that are present on a regular basis. In some instances the counselor may work with groups or families but for the most part the job involves situations where they have to perform their tasks on an individual basis. The counselor has to be someone who has the ability to work independently or also work as a team. He should be a good listener and someone that has good rapport. He or she also has to be patient and develop measures of avoiding confrontation that can disrupt the counseling process. The counselor also has to adhere to the code of ethics. The American Counseling Association (ACA) Code of Ethics and Standards of Practice provide guidelines for counselors enabling them to make decisions that will uphold a high level of professionalism and ethical