Should the DREAM Actor legislation like itbe passed Essay

Should the DREAM Actor legislation like itbe passed - Essay Example Every day, immigrants in the United States feel alienated from the society. It may start at an early age or during the teenage year after enrollment to advanced educational institutions. This prevents them from taking part in activities that benefit the society. Immigrants are also denied opportunities which may help build them morally and psychologically. In most cases, immigrants are the best performers in educational institutions. However, they have to go through many hardships so as to afford to pay for their education and also to secure a job in the job market. In turn, this denies them the chances to benefit the society economically. For undocumented children, securing a place in schools and other educational institutions is hard enough. If the manage to enroll to a school, another problem arises in paying their school fees. Sometimes, they may even have to take breaks so as to work. In the worst case scenarios, they even end up dropping out of school completely. However, this is not even half the challenges that they have to go through in their day-to-day lives. For a child to develop psychologically, he/she needs to have a sense of belonging either to a community, a state or a certain social group. Undocumented children are denied this opportunity by being denied certain privileges such as social security numbers and ID cards. This prevents them from taking part in social activities and having fun like other documented teenagers. One of the reasons and explanations, as to why I think the dream act should be passed is because it recognizes undocumented children. The Dream Act gives undocumented children the chance to participate in economic activities and also further their education. As stated previously, many undocumented children are good performers in their studies. However, they end up dropping out of school due to lack of school fees. For example, â€Å"The ‘Invisibles’†, an article written by Doulas McGray, states â€Å"In 2004,

Compare and Contrast Opportunity and Risk Components Research Paper

Compare and Contrast Opportunity and Risk Components - Research Paper Example Project manager (Learner) may need to make assumptions about the project. Be sure to document the assumptions in the description of the risk and consider both project and product based risks. The project manager should also take in to account external as well as internal risks and consider risks to the project budget, its schedule, its resources and the products quality. Ensure that the risks are categorized and quantified. The estimated costs and worth of a classic kitchen remodeling plan are briefed below. Elevated estimations for greater urban areas and the diminished estimates where home values are below the countrywide average need to be made. Modification for prices for replacements or enhancements is in the last fragment. For size variances of up to 25%, total expenses need to be scrabbled in direct percentage to the size of the project under consideration. The modified costs can be used as a basis for locating a material financial plan and for matching supplier bids (if experts are chosen to do the work) (Homewyse, 2011). This is amongst the major decisions that property-owners have to ultimately deal with when scheduling a project management.   What are the risks?   Effectiveness, length of timeframe, financial plan and class of work are the key factors that one has to consider when determining on such a critical point. For a small kitchen, budget for remodeling is usually restricted. Amidst of a family kitchen remodel, it’s very likely to lose sight of precisely how much money one is spending, crossing over the economical line, every now and then quite significantly. Here are some cautionary cryptograms that during the remodeling; the plan may be heading towards choking terrain (Admin, 2010). The inexpensive cupboards/piece of equipment/sink came about to be backordered for 6 months and extra charges need to be paid for a more exclusive one (and additional variations may chute from this change, accumulating even more to the

Relationship between Inflation and employment rates and GDP

Relationship between Inflation and employment rates and GDP INTRODUCTION 1.1 BACKGROUND Gross Domestic Product as an indicator of wealth and therefore quality of life has long been criticized (Mederly, P. and et al. 2003). Gross Domestic Product (GDP) is the value of total production of goods and services in a country over a specified period, typically a year. The gross domestic product (GDP) or gross domestic income (GDI) is a measure of a countrys overall economic output GDP can be determined in three ways, all of which should in principle give the same result. The most direct of the three is the product approach, which sums the outputs of every class of enterprise to arrive at the total. The expenditure approach works on the principle that all of the product must be bought by somebody, therefore the value of the total product must be equal to peoples total expenditures in buying things. The income approach works on the principle that the incomes of the productive factor must be equal to the value of their product, and determines GDP by finding the sum of all producer s incomes (Bureau of Economic Analysis, U.S Department of Commerce, 2007). The most common approach to measure GDP is the expenditure method: GDP= private consumption + gross investment + government spending + (exports à ¢Ã‹â€ Ã¢â‚¬â„¢ imports) GDP = C + I + G + (X-M) (Equation 1.1) An event in 1975 that remind us the current GDP in our country where the Malaysian economy slumped into its great recession, with a GDP growth rate of only 0.8 percent, compared to 8.3 percent in 1974. This is one of the effects of increase in oil prices and then substantial price increase in 1973 were bought about mainly shortage of food and raw materials arising from bad weather and increased aggregate demand (Cheng, M.Y. and Tan,.H.B. 2002). According to the above circumstances occurred in 1975, the researcher has choosing one of variables that may relate with fluctuation of GDP which is inflation rate. Inflation means either an increase in the money supply or an increase in price levels. Generally, when we hear about inflation, we are hearing about a rise in prices compared to some benchmark. The study of the effects of inflation on economic growth continues to be an important and complex topic in economics. If inflation has real economic effects, then governments can influence economic performance through monetary policy (Risso, W.A and Carrera, E.J.S, 2009). Therefore, investigating how inflation affects economic growth pertains directly to the optimal design of monetary policy. Results from such studies are particularly important for economies. Besides the inflation, the researcher has considered total employment as one of the variable in the model since economic growth and employment are correlated between each others. The relationship between unemployment and GDP is called Okuns law. It is the association of a higher national economic output with the decrease in national unemployment. This is because in order to increase the economic output of a country, people will need to go back to work, thus lowering unemployment. In order to support the relationship exist between GDP and employment, the researcher has found out the issue supporting the theory that GDP and employment has a positive relationship between each others. According to Hassan, M.K.H. and et al. (2010), in the period of 1996 -1997, the manufacturing sector experienced a rapid growth producing the employment rate in the sector to grow at 7.7 percent per annum but later declining to negative 3.6 percent in 1998 due to the economic recession. In addition, in year 2000, the Malaysian manufacturing sector contributed 33.4% to gross domestic product (GDP), 85.2% to total export and 27.6% to total employment. 1.2 PROBLEM STATEMENT Inflation is a major source of economic instability because it weakens incentives for work and production, distorts the allocate efficiency of the market mechanism, erodes international competitiveness of the domestic industry, and reduces growth potential. According to study by Fischer and Modigliani (1980) suggested a negative and nonlinear relationship between the rate of inflation and economic growth through the new growth theory mechanism. Furthermore, inflation also damages economic growth by lowering domestic and foreign savings, reducing efficiency of resource allocation, and deteriorating the balance-of payments (Risso, W.A. and Carrera, E.J.S., 2009). According to Cheng, M.Y. and Tan, H.B. (2002), the economy has experienced episode of high (1973-1974, 1980-1981) and low (1985-1987) regimes of inflation, and was able to contain low and stable inflation during the high economy growth period of 1988-1996. The second problem statement that should be concerns since the employment can affect the economic growth and it is important variable to determine the quality of production for national output and next will influence the GDP of our country. For example, in the early 1990s, the unemployment rate increased for about a year following the end of the previous recession. Coming out of a recession, companies are thought to be reluctant to hire many more workers until they are convinced about the sustainability of a new economic recovery while people who had left the labor force during the recession return to seek to find jobs (Seyfried, W.). Therefore, the researcher conducts this research in order to examine the correlation exists between inflation rate and employment with GDP so that we can help the country to mitigate the problem occurs by supporting the governments policies to increase the countrys GDP. In addition, this research also useful since the results of the studies can be used in policys decision for resource allocation in order to accelerate economic growth. 1.3 OBJECTIVES The objectives of the study are to: 1.3.1 Analyze the relationship between Inflation Rate and Gross Domestic Product in terms of magnitude and direction. 1.3.2 Analyze the relationship between Total Employment and Gross Domestic Product in terms of magnitude and direction. 1.4 SIGNIFICANCE OF THE STUDY The significances of this study are as follow: 1.4.1 Researcher This study will help the researcher to complete their course requirement and will be as guidelines for their field of work in the future. The researcher can gain many experiences in order to complete this research. There are lot of weaknesses may be obtained and this will encourage the researcher to provide the better research in the future. Future researcher will know and more understanding about gross domestic product when conduct this research. It will give the knowledge to the researcher to identify the correlation exist between inflation rate and employment and it always make the researcher briefing to know deeply and applied the study. 1.4.2 Organization This study might help the organization in analyzing the countrys economic condition in order to prevent and reduce the risk during the inflation and know the effects of the crisis occurs to them. This study also may give some guidance to them to protect their company and industry itself. 1.4.3 Public This study can inform and gives some knowledge to the public the relationship between economic growth, inflation rate and employment. They also can make preparation to face the increasing in inflation rate and able to survive in that situation. 1.5 SCOPE OF THE STUDY The researcher chooses to conduct the research about GDP in Malaysia from 2000 until 2010 In this study, the researcher wants to determine the correlation exist between inflation rate and employment with GDP in Malaysia. It is important because as economic planners and forecasters used the GDP per capita in monitoring economic growth trend for time series. The collection of data of GDP, inflation rate and total employment were collected from Department Of Statistics Malaysia in quarterly basis. 1.6 THEORETICAL FRAMEWORK Figure 1.1: Theoretical Framework INFLATION RATE GROSS DOMESTIC PRODUCT EMPLOYMENT RATE RATE Independent variables Dependent Variable Figure 1.1 represents the dependent variable and independent variables in this study. The function of theoretical framework has been clarified by Sekaran, U. (2003) which is a conceptual model of how one theorizes or makes logical sense of the relationship among the several factors that have been identified as important to the problem. Figure above clearly discuss the correlation between Gross Domestic Product which is variable primary to the researcher while Inflation Rate and Employment act as independent variable which is influences the dependent variable. 1.7 HYPOTHESIS In classical test of significant, two kind of hypothesis are used. They are Null Hypothesis and Alternate Hypothesis. Hypothesis is a conjectural statement that describes the relationship among variable even negative or positive. Null hypothesis which is represent by H0 symbol to show that the relationship between independent and dependent variable is not exist. However alternate hypothesis is representing by H1 symbol to show that the relationship is existing between both dependent and independent variable. According to Sakaran (2004), a hypothesis defines as a logically conjectured relationship between two or more variables expressed in the form of testable statement. Relationship a conjectured on the basis on the network of associations established in the theoretical framework formulated for the research study. There are two hypotheses that can describes the correlation exists between dependent variable and independent variables. Therefore the hypothesis that can be tested as follows: Inflation and GDP H0: there is no significant relationship between inflation and GDP. H1: there is a significant relationship between inflation and GDP. Employment and GDP H0: there is no significant relationship between employment and GDP. H1: there is a significant relationship between employment and GDP. 1.8 LIMITATION / CONSTRAINTS The limitations / constraints are: 1.8.1 Time constraint The length of time is limited since the researcher does not have much time to make detailed research. The time provided only three months and the researcher need to divide time properly to complete the research because the process of collecting data is quite difficult. 1.8.2 Cost constraint The cost involves is quite high since as a student, the researcher only depend on the loan applied. Examples of cost involve in order completing this research such as cost of printing, cost of maintaining the laptop, cost of surfing the internet and etc. 1.8.3 Data constraint Since the researcher use the secondary data, the collection of data that have been publish are so limited and the related material are not very supporting the topic of research. 1.8.4 Lack of experience The researcher is less of experience in conducting the research therefore needs to refer the researchers advisor to process the data and learning the skill that needed as a good researcher. CHAPTER 2 LITERATURE REVIEW 2.1 DEPENDENT VARIABLE 2.1.1 GROSS DOMESTIC PRODUCT (GDP) Generally, according to Chan, W.W. and Lam, J.C. (2000), gross domestic product is a common measure of the economic well-being of a society. When government officials plan for the future, they consider the various economics sectors contributed to the gross domestic products. In the other study by Ivanov, S. and Webster, C. (2007), they use the growth of real GDP per capita gr as a measure of economic growth in line with other publications in the field (see Ivanov and Webster, 2007; Lopes et al., 2002; Plosser, 1992). The function of GDP also has been explained by Kosmidou, K. (2008) where gross domestic product (GDP) is among the most commonly used macroeconomic indicators, as it is a measure of total economic activity within an economy. The gross domestic product growth (GDPGR), calculated as the annual change of the GDP, is used as a measure of the macroeconomic conditions. The significance between GDP, foreign trade and foreign direct investment has been discussed by Liu Ying and Cui Riming (2008) where the economy is highlighted by the significant performance of both its economic growth and its foreign trade and foreign direct investment. Under this background, the correlation of foreign trade, foreign direct investments and economic growth in has become an important issue for academic research. Previous studies support that foreign trade and foreign direct investment have positive impacts on gross domestic product (GDP). In the study by Malul, M. and et al. (2008), the GDPpc is used mainly to compare the standard of living in different countries. It means that the higher of cost of living in a country, the higher earning of gross domestic product of the country. According to Wong, K.Y.(2008),economic growth of an economy refers to the expansion of its production possibility set, as a result of accumulation of primary factors such as labor and capital (physical and human), or improvement of production technologies. However, because the production possibility frontier (PPF) of an economy is not observable, economic growth is usually measured in terms of the growth rate of some observable variables such as real GDP or real per capita GDP. Besides that GDP also one of the result of the countrys economic activities based on the statement of Daly and Cobb (1989), GDP expresses the content of physical flows of capital, industrial production, services, resources and agricultural product. The scientific research has been conducted by Ligon and Sadoulet (2007) using a sample of 42 countries show that GDP growth, which comes from agriculture is at least twice as effective in reducing poverty compared to GDP growth coming from nonagricultural areas. In order to know the correlation between inflation and growth, Gokal, V. and Hanif, S. (2004), stated that the tests revealed that a weak negative correlation exists between inflation and growth, while the change in output gap bears significant bearing. The causality between the two variables ran one-way from GDP growth to inflation. While, according to some consensus exists, suggesting that macroeconomic stability, specifically defined as low inflation, is positively related to ec onomic growth. 2.2 INDEPENDENT VARIABLES 2.2.1 INFLATION RATE (INF) Inflation on economic growth continues to be an important and complex topic in economics. If inflation has real economic effects, then governments can influence economic performance through monetary policy. Therefore, investigating how inflation affects economic growth pertains directly to the optimal design of monetary policy. According to Andres and Hernando (1999), for example, reducing inflation by one percentage point when the rate is 20 percent which results in an increase in the growth rate of 0.5 percent, compared to reducing inflation by one percentage point when the inflation rate is around 5 percent, which results in a decrease in the growth rate by 1 percent. Furthermore, a study by Mallik and Chowdhury (2001), the structuralisms argue that inflation is necessary for economic growth, whereas the monetarists argue the opposite, that is, inflation is detrimental to economic growth such debate started in the 1950s, focused on developing countries, which had long suffered fro m low-growth rates with high rates of inflation and larger deficits in the balance of payments. In order of inflation, the monetarists argue that price stability promotes economic growth and protects the balance of payments. They argue that inflation is major sources of economic instability because it weakens incentives for work and production, distorts the allocative efficiency of the market mechanism, erodes international competitiveness of the domestic industry, and reduces growth potential. They also argued that inflation damages economic growth by lowering domestic and foreign savings, reducing efficiency of resource allocation, and deteriorating the balance-of-payments. To monetarists, stable prices are the starting point in the process of economic development. The policy choice of a country would be stabilization with growth, or stabilization without growth. Several papers are typical of the monetarist tradition. To argue that, according to Fischer and Modigliani (1980) suggested a negative and nonlinear relationship between the rate of inflation and economic growth through the new growth theory mechanism proposed a model where the agents decide the level of labor output, and an increase in inflation reduces labor supply, and producing a decrease in economic production. On the other hand, a study by Mundell and Tobin (1965), the structuralizes argue that inflation normally accompanies economic growth in developing countries because structural rigidities and bottlenecks in supply sectors prevent the elastic supply of some basic commodities such as food, housing, energy, and transportation. Increased income as a result of growth would expand demand for such basic commodities, and prices would rise. The structuralize position is that economic difficulties in developing countries have roots deeper than just the results of inflation. Thus, structuralizes thought that inflationary pressures and det erioration in the balance of payments inevitably are attendant matters of economic growth. In developing countries, there thus would be a trade-off relationship between economic growth and inflation and an attendant deterioration in balance of payments. If a developing country wants stabilization of prices and balance of payments, it must reduce the speed of economic growth, including a sacrifice of employment. Among scholars who support the structuralize position on a positive relationship between inflation and economic performance, predict a positive relationship between the rate of inflation and the rate of capital accumulation, which in turn implies a positive relationship to the rate of economic growth. But, DeGregorio (1996) and Fischer (1926) pointed out, since money and capital are substitutable, an increase in the rate of inflation increases capital accumulation by shifts in portfolios from money to capital and thereby stimulate a higher rate of economic growth was the first to establish a negative correlation between inflation and unemployment. According to Grier and Grier (2006), it presents evidence on the real effects of inflation and inflation uncertainty on output growth. Their main findings are as follows: Inflation uncertainty has a negative and significant effect on growth Once the effect of inflation uncertainty is accounted for, lagged inflation does not have a direct negative effect on output growth; and As predicted higher average inflation raises inflation uncertainty, and the overall net effect of average inflation on output growth. Differ with theory of Bortis, H. (2004), he argues that inflation is a macroeconomic phenomenon represented by a gap between global supply and global demand. Inflation affects the money-output relationship, as does deflation; both phenomena modify the purchasing power of money over domestic output. In this view, price indices cannot come to grips with the inflation phenomenon. While Cheng and Tan (2002) in their study inflation in Malaysia, suggested that main factors affecting Malaysian inflation were external (foreign trade, foreign direct investment and technology transfer). Malaysia has been comparatively successful in balancing strong economic growth with moderate levels of inflation in the periods preceding and following the Asian Financial crisis. Actually, empirical results related to low and medium inflation are of a mixed nature; some papers (mainly these analysing the developed economies) argues that moderate inflation negatively affects growth (e.g. Alexander, 1997, Gillm an et al. 2002; Gillman and Harris 2009; Gillman et al. 2001; Fischer 1993; De Gregorio 1992 and 1993) while other argues that moderate inflation is actually stimulating growth. On the theory side Friedman (1977) in his Nobel lecture argues that a positive relationship between the level of inflation and inflation uncertainty. Friedman points out higher inflation leading to greater uncertainty, which lowers welfare and efficiency of output growth. On the other hand, Ball (1992) formalizes Friedmans hypothesis using an asymmetric information game where public faces uncertainty regarding the type of policymaker in the office. One of the policymaker is willing to tolerate a recession to reduce inflation and the other is not. During the low inflation time, both type of policymakers will attempt and try to keep it low. But, when inflation is high, only the tough type or anti-inflation policymaker will bear the economic costs of disinflation. The argument that central banks should emphasize holding down inflation comes from the beliefs that inflation has an adverse effect on macroeconomic variables, such as output and productivity growth. According to Clark (1982), inflation causes misperception of the relative price levels and leads to inefficient investment plans and therefore affects productivity inversely. Furthermore, inflation erodes tax reductions for depreciation and raises the rental price of capital, which in turn causes a reduction in capital accumulation and therefore in labour productivity. In addition, according to Feldstein (1982) inflation disrupts investment plans by imposing a higher tax rate on corporate profits and through higher effective tax rates on corporate income and accordingly affects productivity (Gilson, 1984; Boskin et al., 1980). Finally, inflation distorts price signals and reduces the ability of economic agents to operate efficiently (Smyth, 1995). According to Chen and et al. (1991), it has documented a significant relationship between the US stock returns and real economic variables such as industrial production, real GNP, interest rates, inflation and money supply. Besides that, there are also otherwise arguments that there is no relation between inflation rate and gross domestic product in the long run. For instance, Faria and Carneiro (2001) investigate the relationship between inflation and output in the context of an economy facing persistent high inflation and they find that inflation does not affect real output in the long run, but that in the short-run inflation negatively affects output. In addition, scholars such as Sidrauski (1967) suggest that there is no relationship between inflation and economic growth, supporting the hypothesis of super neutrality of money. On the other hand, Sarel (1995) asserts that there is a nonlinear relationship between inflation and economic growth. Using 87 countries, he finds the existence of an inflation threshold of 8 percent. Above the threshold there is a negative relationship between inflation and economic growth, whereas under the threshold there is a positive but not significant relationship. The others studies in order to prove Sarels result, Judson and Orphanides (1996) divide Sarels sample of countries into three groups, and they find similar results to Sarel, finding a threshold of 10 percent. Ghosh and Phillips (1998a, b) study 145 countries in the period 1960-1990 again finding similar results. Paul et al. (1997) study 70 countries (of which 48 are developing economies) for the period 1960-1989. They find no causal relationship between inflation and economic growth in 40 percent of the countries, bidirectional causality among 20 percent of the countries, and unidirectional causality for the rest (either inflation to growth or vice versa). Lastly, Mendoza (1998) finds that inflation has had no effect on Mexicos long-run economic growth since he conducted the study of inflation in Mexico. 2.2.2 EMPLOYMENT Some of studies have been conducted to examine the relationship between gross domestic product and employment. For instance, according to Okun (1962) and Philips (1958), they found different relationship both of these. Okun found a negative correlation between unemployment and economic growth, then from both propositions it can be deduced a positive relationship between economic growth and inflation while Phillips proposed a positive relationship between inflation and unemployment implying the same type of relationship. In addition, Boltho and Glyn (1995) found elasticities of employment with respect to output growth in the order of 0.5 to 0.6 for a set of OECD countries. While according to Evangelista and Perani (1996) discovered evidence suggesting that restructuring of major economic sectors reduce the relationship between economic growth and employment. A specific research conducted by Seyfried, W., among the G7 countries (Canada was excluded), a positive and significant relationship between growth in value added and employment was found only in Germany and the US. In addition, according to Verdoon (1949) and Kaldor (1966), an increase in output growth of 1 percent leads to an increase in productivity and employment growth of half a percentage point each. It should be noted that the higher the productivity effects of growth, the more difficult it will be to keep unemployment from rising. According to Okuns Law an increase of the economic growth rate by 3 percent (above the normal rate) was expected to reduce the unemployment rate by 161 percentage point. Or, to put it the other way round: The gain of real GDP associated with a reduction in unemployment of one percentage point was estimated to be 3 percent. Several studies also have been conducted to examine the correlation exists between employment and inflation rate. One of the studies by Spithoven, A.H.G.M. (1995), by the end of the 1960s evidently there was no fixed relationship between unemployment and inflation. Empirical research revealed that the relationship was not consistent over time and varied sharply between countries. This was explained as follows: in the short run higher nominal wages attract more labour and engender a fall in the rates of unemployment. As soon as the workers recognize the wage rise to be purely nominal they abstain from work, and unemployment is restored to the pre-wage-rise level, but with a level of prices higher than before. Secondly, according to Brenner (1991), confronted with a combination of unemployment and inflation (stagflation), many governments abandoned efforts to regulate the economy by the Keynesian instruments. They declared fiscal policies ineffective and sought refuge in a mixture of m onetary measures with supply-side economics. According to Keynes (1946), the volume of employment is given by the point of intersection between the aggregate demand function and the aggregate supply function. This was naively interpreted and construed to imply that a rise in costs and with this was meant a rise in costs owing to increasing government expenditure will result in an upward shift of the supply curve and will cause greater unemployment and inflation. CHAPTER 3 RESEARCH METHODOLOGY AND DESIGN 3.1 MODEL SPECIFICATION This study is to examine the correlation exists between inflation rate and total employment with gross domestic product. It uses secondary data which is based on time series data. The collection of time series data from 1982 to 2006 and the scope is in Malaysia. The researcher applied STATA software to process the data and log-log model in this study. The model applied a log transformation, since log transformations help, at least partially, to eliminate the strong asymmetry in the distribution of inflation (Sarel, 1995) and (Ghosh and Phillips, 1998a, b). The logarithm equation is written in the Equation 3.1. GDP = ÃŽÂ ± + ÃŽÂ ²1In(INF) + ÃŽÂ ²2ln(EMP) + ÃŽÂ µ (Equation 3.1) Where, GDP = Gross Domestic Product ÃŽÂ ± = Constant ÃŽÂ ²1 = Inflation ÃŽÂ ²2 = Employment ÃŽÂ µ = Error term In above equation, it shows clearly dependent variable that has been applied in this study is gross domestic product, besides that, the researcher also used two independent variables which are quantitative variables, they are inflation rate and total employment. 3.1.1 DEPENDENT VARIABLE The dependent variable is the variable of primary interest to the researcher. The researchers goal is to understand and describe the dependent variable, and to explain its variability, or predict it (Sekaran, 2006). Dependent variable of this study is factor contributed to the gross domestic product. According to Zikmund (2000), independent variable is a criterion that predicted or explained. It show that the component contributed to improving of gross domestic product depend on the listed independent variables. 3.1.2 INDEPENDENT VARIABLES According to Zikmund (2000), independent variables that expected to influence the dependent variable. Refer to (Burn and Bush, 2000), independent variables are those variables over which the researcher has some control and wishes to manipulate. In this study, two independent variables will influence the dependent variables. They are inflation rate and employment. 3.2 DATA SET AND METHODOLOGY The collections of data in this research only gain from secondary data and based on time series data which are from 2000 to 2010. The researcher has considered annual data of real GDP, inflation rate and employment. All the data on the growth rate of real GDP, Inflation and total employment were obtained from Department of Statistics Malaysia database. GDP is considered per capita. In addition, according to Aigenger (2005) per capita real GDP is also used as an alternative measure of productivity, as some theoretical models do. Moreover, according to OECD (2001), living standards as represented by per capita income reflects productivity since the former is determined, to a significant extent, by the latter. CPI consider in weight 100 while employment in number of labor. The variables were selected based on relevant economic theories that allow for the interaction among inflation rate and total employment in addition to response to GDP. 3.3 TECHNIQUE ANALYSIS DATA In this research, the researcher has applied unit SPSS in order to determine time series data is stationary or non stationary about the correlation between inflation rate and employment with gross domestic product. The researcher examines the existence of a long-run relationship between inflation and employment with GDP using a vector error-correction model (VECM) after applying Johansens (1988, 1990, and 1995) cointegration technique. We conduct a test for weak exogeneity in order to do inference. Then, the researcher conduct stability test by using Jarque Bera test in order to test normality distribution between the variables selected. Finally, a modified version of the Granger causality test is applied in order to analyze causality between the variables. 3.4.1.1 Multiple Regression Analysis Multiple Linear regression analysis is an analysis of the relationship between one variable (dependent variable) and set of variable (independent variables). It is used by the researcher to test the hypothesis. As in all hypothesis tests, the goal is to reject the null hypothesis and accept the alternative hypothesis. This technique will identify how much of the variance in the dependent variables can be explained by independent variables. This analysis is used primarily for the purpose of pre

To Autumn by John Keates - Critical Analysis Essays -- English Literat

To Autumn by John Keates - Critical Analysis John Keats once said about Lord Byron â€Å"He describes what he sees - I describe what I imagine, mine is the hardest task† To Autumn is evidence of his way of thinking, as the poem is a vivid, lyrical portrayal of the English autumn, as he imagined it. The poem celebrates autumn as a season of abundance, a season of reflection, a season of preparation for the winter, and a season worthy of admiration with comparison to what romantic poetry often focuses upon - the spring. The poem is rather literal in its meaning as it does not convey a deeper level of meaning that relates to the reader. The poem fails to â€Å"move† the reader in a philosophical, idealistic or moralistic way, and therefore bears no significant message to the reader. That is not to say that the poem lacks meaning or metaphorical significance, the poem was written to convey a sense of purpose to life and the worth of death. The poem achieves this by using descriptive and vivid expressions to describe the essence of autumn. The poem uses powerful language to achieve effect. It often makes use of imagery, exaggerated language and onomatopoeia to create an atmosphere of the English autumn, for the reader. Language such as this excerpt from the first stanza, And fill all fruits with ripeness to the core, To swell the gourd, and plump the hazel shells This type of language, especially adjectives such as ripeness and plump, provide the reader with an excellent ... To Autumn by John Keates - Critical Analysis Essays -- English Literat To Autumn by John Keates - Critical Analysis John Keats once said about Lord Byron â€Å"He describes what he sees - I describe what I imagine, mine is the hardest task† To Autumn is evidence of his way of thinking, as the poem is a vivid, lyrical portrayal of the English autumn, as he imagined it. The poem celebrates autumn as a season of abundance, a season of reflection, a season of preparation for the winter, and a season worthy of admiration with comparison to what romantic poetry often focuses upon - the spring. The poem is rather literal in its meaning as it does not convey a deeper level of meaning that relates to the reader. The poem fails to â€Å"move† the reader in a philosophical, idealistic or moralistic way, and therefore bears no significant message to the reader. That is not to say that the poem lacks meaning or metaphorical significance, the poem was written to convey a sense of purpose to life and the worth of death. The poem achieves this by using descriptive and vivid expressions to describe the essence of autumn. The poem uses powerful language to achieve effect. It often makes use of imagery, exaggerated language and onomatopoeia to create an atmosphere of the English autumn, for the reader. Language such as this excerpt from the first stanza, And fill all fruits with ripeness to the core, To swell the gourd, and plump the hazel shells This type of language, especially adjectives such as ripeness and plump, provide the reader with an excellent ...

Computers – Invention of the Century

The History of Computers only once in a lifetime will a new invention come about to touch every aspect of our lives. Such devices changed the way we manage, work, and live. A machine that has done all this and more now exists in nearly every business in the United States. This incredible invention is the computer. The electronic computer has been around for over a half-century, but its ancestors have been around for 2000 years. However, only in the last 40 years has the computer changed American management to its greatest extent. From the first wooden abacus to the latest high-speed microprocessor, the computer has changed nearly every aspect of management, and our lives for the better. The very earliest existence of the modern day computer's ancestor is the abacus. These date back to almost 2000 years ago (Dolotta, 1985). It is simply a wooden rack holding parallel wires on which beads are strung. When these beads are moved along the wire according to programming rules that the user must memorize. All ordinary arithmetic operations can be performed on the abacus. This was one of the first management tools used. The next innovation in computers took place in 1694 when Blaise Pascal invented the first digital calculating machine. It could only add numbers and they had to be entered by turning dials. It was designed to help Pascal's father, who was a tax collector, manage the town's taxes (Beer, 1966). In the early 1800s, a mathematics professor named Charles Babbage designed an automatic calculation machine (Dolotta, 1985). It was steam powered and could store up to 1000 50-digit numbers. Built in to his machine were operations that included everything a modern general-purpose computer would need. It was programmed by and stored data on cards with holes punched in them, appropriately called punch cards. This machine was extremely useful to managers that delt with large volumes of good. With Babbage's machine, managers could more easily calculate the large numbers accumulated by inventories. The only problem was that there was only one of these machines built, thus making it difficult for all managers to use (Beer, 1966). After Babbage, people began to lose interest in computers. However, between 1850 and 1900 there were great advances in mathematics and physics that began to rekindle the interest. Many of these new advances involved complex calculations and formulas that were very time consuming for human calculation. The first major use for a computer in the U. S. was during the 1890 census. Two men, Herman Hollerith and James Powers, developed a new punched-card system that could automatically read information on cards without human (Dolotta, 1985). Since the population of the U. S. was increasing so fast, the computer was an essential tool for managers in tabulating the totals (Hazewindus,1988). These advantages were noted by commercial industries and soon led to the development of improved punch-card business-machine systems by International Business Machines, Remington-Rand, Burroughs, and other corporations (Chposky, 1988). By modern standards the punched-card machines were slow, typically processing from 50 to 250 cards per minute, with each card holding up to 80 digits. At the time, however, punched cards were an enormous step forward; they provided a means of input, output, and memory storage on a massive scale. For more than 50 years following their first use, punched-card machines did the bulk of the world's business computing (Jacobs, 1975). By the late 1930s punched-card machine techniques had become so well established and reliable that Howard Hathaway Aiken, in collaboration with engineers at IBM, undertook construction of a large automatic digital computer based on standard IBM electromechanical parts (Chposky, 1988). Aiken's machine, called the Harvard Mark I, handled 23-digit numbers and could perform all four arithmetic operations (Dolotta, 1985). Also, it had special built-in programs to handled logarithms and trigonometric functions. The Mark I was controlled from prepunched paper tape. Output was by card punch and electric typewriter. It was slow, requiring 3 to 5 seconds for a multiplication, but it was fully automatic and could complete long computations without human intervention. The outbreak of World War II produced a desperate need for computing capability, especially for the military (Dolotta, 1985). New weapons systems were produced which needed trajectory tables and other essential data. In 1942, John P. Eckert, John W. Mauchley, and their associates at the University of Pennsylvania decided to build a high-speed electronic computer to do the job. This machine became known as ENIAC, for Electrical Numerical Integrator And Calculator (Chposky, 1988). It could multiply two numbers at the rate of 300 products per second, by finding the value of each product from a multiplication table stored in its memory. ENIAC was thus about 1,000 times faster than the previous generation of computers. ENIAC used 18,000 standard vacuum tubes, occupied 1800 square feet of floor space, and used about 180,000 watts of electricity. It used punched-card input and output. The ENIAC was very difficult to program because one had to essentially re-wire it to perform whatever task he wanted the computer to do. It was efficient in handling the particular programs for which it had been designed. ENIAC is generally accepted as the first successful high-speed electronic digital computer and was used in many applications from 1946 to 1955. However, the ENIAC was not accessible to managers of businesses (Beer, 1966). Mathematician John Von Neumann was very interested in the ENIAC. In 1945 he undertook a theoretical study of computation that demonstrated that a computer could have a very simple and yet be able to execute any kind of computation effectively by means of proper programmed control without the need for any changes in hardware. Von Neumann came up with incredible ideas for methods of building and organizing practical, fast computers. These ideas, which came to be referred to as the stored-program technique, became fundamental for future generations of high-speed digital computers and were universally adopted (Dolotta, 1985). The first wave of modern programmed electronic computers to take advantage of these improvements appeared in 1947. This group included computers using random access memory, RAM, which is a memory designed to give almost constant access to any particular piece of information (Dolotta, 1985). These machines had punched-card or punched-tape input and output devices and RAMs of 1000-word capacity. Physically, they were much more compact than ENIAC: some were about the size of a grand piano and required 2500 small electron tubes. This was quite an improvement over the earlier machines. The first-generation stored-program computers required considerable maintenance, usually attained 70% to 80% reliable operation, and were used for 8 to 12 years (Hazewindus,1988). Typically, they were programmed directly in machine language, although by the mid-1950s progress had been made in several aspects of advanced programming. This group of machines included EDVAC and UNIVAC, the first commercially available computers. With this invention, managers had even more power to perform calculations for such things as statistical demographic data (Beer, 1966). Before this time, it was very rare for a manager of a larger business to have the means to process large numbers in so little time. The UNIVAC was developed by John W. Mauchley and John Eckert, Jr. in the 1950s. Together they had formed the Mauchley-Eckert Computer Corporation, America's first computer company in the 1940s. During the development of the UNIVAC, they began to run short on funds and sold their company to the larger Remington-Rand Corporation. Eventually they built a working UNIVAC computer. It was delivered to the U. S. Census Bureau in 1951 where it was used to help tabulate the U. S. population (Hazewindus,1988). Early in the 1950s two important engineering discoveries changed the electronic computer field. The first computers were made with vacuum tubes, but by the late 1950s computers were being made out of transistors, which were smaller, less expensive, more reliable, and more efficient (Dolotta, 1985). In 1959, Robert Noyce, a physicist at the Fairchild Semiconductor Corporation, invented the integrated circuit, a tiny chip of silicon that contained an entire electronic circuit. Gone was the bulky, unreliable, but fast machine; now computers began to become more compact, more reliable and have more capacity. These new technical discoveries rapidly found their way into new models of digital computers. Memory storage capacities increased 800% in commercially available machines by the early 1960s and speeds increased by an equally large margin (Jacobs, 1975). These machines were very expensive to purchase or to rent and were especially expensive to operate because of the cost of hiring programmers to perform the complex operations the computers ran. Such computers were typically found in large computer centers operated by industry, government, and private laboratories staffed with many programmers and support personnel. By 1956, 76 of IBM's large computer mainframes were in use, compared with only 46 UNIVAC's (Chposky, 1988). In the 1960s efforts to design and develop the fastest possible computers with the greatest capacity reached a turning point with the completion of the LARC machine for Livermore Radiation Laboratories by the Sperry-Rand Corporation, and the Stretch computer by IBM. The LARC had a core memory of 98,000 words and multiplied in 10 microseconds. Stretch was provided with several ranks of memory having slower access for the ranks of greater capacity, the fastest access time being less than 1 microseconds and the total capacity in the vicinity of 100 million words. During this time the major computer manufacturers began to offer a range of computer capabilities, as well as various computer-related equipment (Jacobs, 1975). These included input means such as consoles and card feeders; output means such as page printers, cathode-ray-tube displays, and graphing devices; and optional magnetic-tape and magnetic-disk file storage. These found wide use in management for such applications as accounting, payroll, inventory control, ordering supplies, and billing. Central processing units for such purposes did not need to be very fast arithmetically and were primarily used to access large amounts of records on file. The greatest number of computer systems were delivered for the larger applications, such as in hospitals for keeping track of patient records, medications, and treatments given. They were also used in automated library systems and in database systems such as the Chemical Abstracts system, where computer records now on file cover nearly all known chemical compounds (Dolotta, 1985). The trend during the 1970s was, to some extent, away from extremely powerful, centralized computational centers and toward a broader range of applications for less-costly computer systems (Jacobs, 1975). Most continuous-process manufacturing, such as petroleum refining and electrical-power distribution systems, began using computers of relatively modest capability for controlling and regulating their activities. In the 1960s the programming of applications problems was an obstacle to the self-sufficiency of moderate-sized on-site computer installations, but great advances in applications programming languages removed these obstacles. Applications languages became available for controlling a great range of manufacturing processes, for computer operation of machine tools, and for many other tasks. In 1971 Marcian E. Hoff, Jr. , an engineer at the Intel Corporation, invented the microprocessor and another stage in the development of the computer began. A new revolution in computer hardware was now well under way, involving miniaturization of computer-logic circuitry and of component manufacture by what are called large-scale integration techniques. In the 1950s it was realized that scaling down the size of electronic digital computer circuits and parts would increase speed and efficiency and improve performance. However, at that time the manufacturing methods were not good enough to accomplish such a task. About 1960, photoprinting of conductive circuit boards to eliminate wiring became highly developed. Then it became possible to build resistors and capacitors into the circuitry by photographic means. In the 1970s entire assemblies, such as adders, shifting registers, and counters, became available on tiny chips of silicon. In the 1980s very large scale integration, VLSI, in which hundreds of thousands of transistors are placed on a single chip, became increasingly common. Many companies, some new to the computer field, introduced in the 1970s programmable minicomputers supplied with software packages. The size-reduction trend continued with the introduction of personal computers, which are programmable machines small enough and inexpensive enough to be purchased and used by individuals. One of the first of such machines was introduced in January 1975. Popular Electronics magazine provided plans that would allow any electronics wizard to build his own small, programmable computer for about $380. The computer was called the Altair 8800. Its programming involved pushing buttons and flipping switches on the front of the box. It didn't include a monitor or keyboard, and its applications were very limited. Even though, many orders came in for it and several famous owners of computer and software manufacturing companies got their start in computing through the Altair. For example, Steve Jobs and Steve Wozniak, founders of Apple Computer, built a much cheaper, yet more productive version of the Altair and turned their hobby into a business. After the introduction of the Altair 8800, the personal computer industry became a fierce battleground of competition. IBM had been the computer industry standard for well over a half-century. They held their position as the standard when they introduced their first personal computer, the IBM Model 60 in 1975. However, the newly formed Apple Computer company was releasing its own personal computer, the Apple II. The Apple I was the first computer designed by Jobs and Wozniak in Wozniak's garage, which was not produced on a wide scale. Software was needed to run the computers as well. Microsoft developed a Disk Operating System, MS-DOS, for the IBM computer while Apple developed its own software. Because Microsoft had now set the software standard for IBMs, every software manufacturer had to make their software compatible with Microsoft's. This would lead to huge profits for Microsoft. The main goal of the computer manufacturers was to make the computer as affordable as possible while increasing speed, reliability, and capacity. Nearly every computer manufacturer accomplished this and computers popped up everywhere. Computers were in businesses keeping track of even more inventories for managers. Computers were in colleges aiding students in research. Computers were in laboratories making complex calculations at high speeds for scientists and physicists. The computer had made its mark everywhere in management and built up a huge industry. The future is promising for the computer industry and its technology. The speed of processors is expected to double every year and a half in the coming years. As manufacturing techniques are further perfected the prices of computer systems are expected to steadily fall. However, since the microprocessor technology will be increasing, it's higher costs will offset the drop in price of older processors. In other words, the price of a new computer will stay about the same from year to year, but technology will steadily increase. Since the end of World War II, the computer industry has grown from a standing start into one of the biggest and most profitable industries in the United States. It now comprises thousands of companies, making everything from multi-million dollar high-speed supercomputers to printout paper and floppy disks. It employs millions of people and generates tens of billions of dollars in sales each year. Surely, the computer has impacted every aspect of people's lives. It has affected the way people work and play. It has made everyone's life easier by doing difficult work for people. The computer truly is one of the most incredible inventions in history to ever influence management, and life.

Gambling and Public Policies

A public policy is a deliberate preparation of action created and expected to direct and assist decision making in able to attain rational outcomes. The word â€Å"public policy† applies to different sectors of the society. This includes: government, the private sector, non-government organizations, groups and other individuals. Examples of public policies are taken from presidential executive orders, corporate privacy policies, and parliamentary rules of order and other similar laws. Public policies are different from rules or laws.Laws can induce or prohibit behaviors while a policy merely guides actions on the way to those that are most likely to accomplish their desired outcomes. Public policies can be viewed and seen as political, management, financial, and administrative mechanisms that are created and arranged to reach specific goals. Gambling Casting lots and playing board games have moved to online casinos, peer to peer gambling and sports gambling. What does a casino , a roulette wheel and other forms of gambling have in common? They all provide a huge chance of winning loads of money.This is because they are based on the principle of greed and sloth. Presently, our casino’s today marks a lot in history. The very idea that makes people gamble has been going on since the creation of men. (Higgins, 2006) This paper will focus on positive and negative effects of gambling, other forms of gambling like gambling on sports and finally after providing enough information about the different aspects of gambling as a whole and how public policies affect this. This paper will give a statement of whether gambling o sports in the USA should be legalized or not.Just like everything in this wretched world, I believe that gambling has its good side and bad side. There are a lot of positive benefits of gambling that a lot of persons are not even being aware of. It is always important to look at both this sides of the story before deciding whether or not ga mbling is a good idea or not. There will always be many negative effects of gambling on people and society. One of the most common positive features of gambling in sports is that many people enjoy the gambling as a sport and hobby. These people don’t have any problems with gambling at all. These are the positive sides of gambling issue.Gambling on sports provides a lot of money for community raising activities The argument clearly tells us that people who are having fun with gambling shouldn’t suffer just because other people are having a hard times controlling themselves. In my opinion, there are many positive and negative sides of gambling. All these effects include the effects of gambling on families. Spending all your money on gambling is one of the problems of gambling. This act will affect your family. They will have nothing to spend, nothing to eat, nothing drink, and nothing to pay bills and other stuff.Internet gambling only made the situation much worse. Gamb ling on the internet made a lot of people lose huge amounts of money because of its easy accessibility. However, all of the money which is spent on gambling is used to help a lot of people so this gives us another aspect about the story of gambling. Public Policies and Gambling Public policies greatly affect the gambling scene because they either promote or prohibit the gambling scene. Most of the time, state policies regarding gambling are in favor of the act. Most of them are having this â€Å"legalized gambling† policy.Discussing about legalized gambling will bring us to a point which we should evaluate our own knowledge on this matter. Doing legalized gambling is a very confusing act. One of the things that get often overlooked in the idea that gambling is wrong is the benefits of legalized gambling in sports. So many people say that gambling is wrong and they fail to notice that there are benefits of legalized gambling. (Ahlberg et al. , 2004) The benefits of legalized c asino gambling are that sometimes people are gambling for fun and for entertainment, and the money that they spend is then being used for good.People fail to notice these legalized gambling benefits, because sometimes the cost of legal gambling vs. benefits is something that is really hard for some people to discover. . Even though there are lots of people with gambling problems in sports, there are also lots of benefits of legalized gambling in sports. (Ghanimian et al. , 2006) If people with problems can seek help, then the benefits of legalized gambling can be shared by everyone. It is simply too hard for some people to see that there might be benefits to legalized gambling in sports, because it is true that lots of people’s lives have been destroyed by gambling.However, gambling in sports makes lots of money for the state, and this money goes to many different programs, some of which even help people who have gambling problems. There are simply a lot of benefits to weight before a decision is made. Conclusion Gambling in sports, obviously presents strong proof and confirmation that humans still possess the greed and sloth in their mind and body. Without thinking a lot about the consequences, many of today’s citizens still do a lot of gambling and spend a lot of money in â€Å"chance† games whether it is gambling related in sports, cockfighting, card games, or just a simple guessing game.Advertisements and attractive promos give way to the impending financial crisis of people and families who are affected by snakes of the gambling syndrome. No matter how many laws we the government creates to control or suppress it. It will always come out on top. Why? This is because it is human nature to desire for more and do it the risky way. Legalized gambling will make people realize that if they already lost everything then they only have themselves to blame. It is always the responsibility of each individual to take care of his/her own self.If y ou gamble a lot then you must be ready for the consequences. Everything in this world has its own limits. People who do not control themselves in gambling will really destroy their lives and families. Knowing when to stop and how to stop should always be in the minds of gamblers. Laws that ban gambling in certain areas only fuel the desires of gamblers to do more gambling. It is better to legalize gambling because it helps the economy. Individual problems of people who are addicted to gambling should not be the point of interest. We are responsible for ourselves and for own actions.Legalizing gambling around the world will generate a lot of money to help the needy and the poor people. It should be our principle that everything in excess is BAD. Self control is the answer to all gambling related problems, not laws or even bans stop the desire for gambling. It is SELF-CONTROL. Works Cited Ahlberg, P. E. and Clack, J. A. â€Å"Anti Gambling. † Natural ,410 (2004): 737–759 . Carroll, R. L. ,. Effects of Gambling, NY: W. H. Freeman and Company, 1988. Daeschler, E. B. , and Shubin, Neil.. Casino Madness Chance Games, 391(1998):133. Daeschler, E. B. , Shubin, N. H. , and Jenkins, F. A. , Jr. â€Å"Double Digits.† Femme Royale, 410 (2002): 717–793. Shiraz Ghanimian and David Saryan. Money Talks. Summary. California State Convention 2006. Higgins, P.. â€Å"Casino Man: Case of the Relentless† 2006. 1 Mar 2006 Muller, G. B. â€Å"Economic Crisis† J. evol. biol. 10 (1997): 821-828. Patterson, R. Gamling Exposed. NY: Macmillan, 2007. Poctja and Springer. History of Gambling. The American Geographical Institute and The Paleontological Society, 2002. Poctja and Springer. Evolution of Men and their Crimes. The American Geographical Institute and The Paleontological Society, 2004. Lolo and Lola. Game On. The Journal of the American Casino, 2005.