Economic Exam 2 Essay Example | Topics and Well Written Essays - 500 words

Economic Exam 2 - Essay Example For example, he proposed a theory in regard to labor and value (Schumpeter 21). Schumpeter came up with a theory based on Marx capitalism principles in which he stated that economies can evolve, create new structures and destroy old structures. In his view governments posed the greatest risk when it comes to economy destruction (Schumpeter 59). He was right because, most government evolved from communist or monarchies to democratic governments but still go to war with each other. Keynes’ theory on macroeconomics also known as Keynesian economics focuses on the total expenditure in an economy and the effect the expenditure has on inflation and an economy’s output (Kennedy 196). In Keynesian economics, decisions made by both public and private institutions affect the output of an economy. Classical theory of economics has it basis centered on the concept of free-market economies. The main difference between the two economic theories is the influence of government on an economy. The Keynesian economic theory is reliant on the expenditure and policies of governments but the classical economic theory makes the assumption that there is a free-market (Kennedy 199). Another difference between the two theories is that Keynesian economics theory works on providing short-term results for an economy while classical economic theory focuses on providing long-term solutions for economic problems. Q.4. Characteristics of Anglo-Saxon capitalism and how does it differ from European and Asian capitalism? Which is the better example of Anglo-Saxon capitalism, the U.S. economy or the British economy? The main characteristic of the Anglo-Saxon capitalism model is that it operates based on common law with a judicial system which contemplates minimal government interference in the economy (Pryor 107). The difference between the Anglo-Saxon capitalism model and the

Economics of Education Essay Example for Free

Economics of Education Essay This project, critically reviews the sources of revenue at Kinondoni Municipal along with the budgetary allocation to secondary educational sector. It provides the major sources of revenue which include Central Government revenue, Basket fund (Donors) and Local government revenue which constitute revenue from city service levy, property tax, advertising and bill boarding fees, compensation revenue, and cost sharing. It identifies that education is the priorities to which the council does consider much in allocating their funds. The project reveals the background on the system of financing education as an essential and critical kind of investment in developing countries particularly Tanzania. It has shown its significances with respect to running the system (government) in general. The significances give the stand to which the Government should take into consideration on allocating funds in secondary educational department. More over the project has identified the objectives for analyzing the sources of revenue and educational budgetary allocation. These objectives have been stated in such a way that, it shows the directory as guidelines for reaching targeted goal(s) for sustainable development. Nevertheless, case study method and documentary review as well as interview techniques were employed. The data have been analyzed using tables and figures. 1.0. Introduction and Background. Kinondoni Municipal is located in Dar es Salaam City in Tanzania. It is bordered by Indian Ocean to North East, Ilala Municipal to the South, Bagamoyo District to the North, Kibaha District to the West and Kisarawe District to the South West. The Municipal has number of matters and services to be done/ provided to the community. Among others being education, health services, road construction and maintenances, water services, urban agriculture, power and energy supply and others of alike. All these services need money to run in effective way so that, the community members could appreciate the concern of the government for their well-being. The Municipal has vision and Mission which the study was interested with, to check out whether are just worded or are real in practical terms. The study eyed particularly to its Mission statement â€Å"Provision of quality services to the community through effective and efficient use of resources, capacity building, good governance and rule of law hence improve the living standard of people†. The project (study) was done at this Municipal to identify the sources of revenue for the Municipal to curter and serve the community effectively and efficiently. Another purpose was to check out, how the Municipal allocate its funds (Revenue) to secondary educational sector. A source of revenue is a critical problem in running several activities to an individual, family, community and national level respectively. Moreover, despite the scarcity of fund (resources) in servicing the community, there is a problem on proper plans and allocating the present resources in optimal manner. Thus, the wise decisions on how to use the present resources in its scarcity is very important particularly for developing countries like Tanzania. Another aspect towards this study (project) was to determine the way the sources of revenue are collected. On this activity, it is the point at which monitoring of revenue collection should be taken into consideration for effective performance. Furthermore, this exercise needs humanitarian aspiration than personal essence so that, the fruits will be for the community as large. There are two significances of doing this project. First was to determine the sources of revenue to the Municipal in order to understand the position of Municipal and the Government in general in its strengths and weaknesses so as to address recommendations to be taken for better performance in future. Second was to assess the allocation of the funds in secondary educational sector. From this, allocation of fund will realize the choices for most of the councils in Tanzania and the way investment aspects are taken into account especially educational investment, hence improvements to be made in a long run. The objectives of this project were as follows i) To determine the sources of revenue for Kinondoni Municipal. ii) To assess the budget allocation to Secondary educational sector in Kinondoni Municipal. The project presents various literature reviews in respective to the study (project). The literature review is mostly on sources of revenue, financing systems, administration, roles of the state and recommended suggestions. Galabawa (1985, p. 1) claimed that, â€Å"Tanzania’s plan for extending educational opportunities and improving the quality of education are often hampered by the limited resources to educational industry†. This realizes that, the problem resources in provision of education in Tanzania is a problem that exists and needs a solution on how to go about in order to reduce the burden from the government to ensure more educational opportunities and improve the quality of education. More emphasis on quality of education has been described by Michaelowa. The author tried to identify the areas which need to be checked to ensure that are taken into considerations for the consequences in anyhow. The author argued that, â€Å"The number of days teachers are absent from school (ABSENCE), and teachers’ self reported job satisfaction (MOTIVATION) have significant coefficients of the expected negative and positive sign respectively† (Michaelowa, 2001, p. 1707). If the education industry is running short of resources to improve access and quality of education, and if the responsible persons needs to be motivated for effective teaching, means this industry need to be financed. The financing can be determined by number of factors as quoted from the article that, â€Å"The policies of financing education in any country reflect the country’s ideology. Although Tanzania’s education policies emphasized quality of opportunity and access, they also vary from environment prevailing at specific time† (Galabawa, 1994, p. 37) This literature review has contributed much on this project since objectives stated can be revealed particularly on sources of revenue. According to Galabawa (2007, p. 3), There are various sources of education revenue. These sources can be divided into four broad categories: Fiscal sources; ser charges including various forms of cost recovery and cost sharing; student loan when constituted as a revolving fund which generates income out of which loans are offered to students and various forms of community contributions. The fiscal sources include general taxes; earmarked taxes; taxes on With regards to education as an investment, and sources of educational revenue, the government has to play its role for sustainable development Galabawa (2007, p. 2) portrayed that, â€Å"The price of education can, therefore be influenced by the government decision which impinge on issues of supply of education services; the allocation and distribution of resources between different levels or different courses; the choice between different methods of financing education and student support or even between different methods of schooling†. Therefore, this clarifies the position of the Government in provision of education in the country to assure access and proper allocation of funds in different sectors. Property; salaries and sales; and different types of levies. For all matters being discussed concerning sources of revenue, educational revenue, budgetary allocation and the role of the government on educational investments and other sector, to have sustainable implementation of plans and to build capacity on fund management, accountability, effective audit and formula funding to generate consistent and reliable disbursements† should be taken into consideration for sustainable development. Besides literature review, case study was employed during the project. The study was done in Kinondoni Municipal. Therefore purposeful sampling technique was used. The project had two variables namely, dependent variable which is budget allocation, and independent variable which is source of revenue. With these variables the hypotheses of this project were as follows; (i) There is a significant relationship between sources of revenue and budget allocation in secondary educational sector (Alternative hypothesis). (ii) There are no basic criteria guiding for sources of revenue and budget allocation in secondary educational sector (Null hypothesis). Field visit, discussion and interview. The list of tools used to collect information and guide the field interview and discussion were documentary review and Interview. The targeted personnel were Municipal economist and district secondary educational officer; these were obtained using purposeful sampling in order to get correct information. The documentary review involved reviewing various documents concerning sources of revenue and general allocation (budget) of the fund to secondary educational sector. Also an interview was conducted in brief way with the Municipal economist and district secondary educational officer. The interview was basically on the way they get fund for running the Municipal to curter and serve the community. Moreover, the questions on what are the major criteria for allocating the fund and challenges they face on all matters concerning sources of revenue and allocation of fund in general were asked.

Effects of Government Price Ceilings

Effects of Government Price Ceilings Markets, International Trade, Government Donna Green Governments have stepped in and set minimum and maximum prices ever since they have had control over the populace. Just in the United States alone, governments have predetermined the price of gasoline, added rent control to housing in New York City, and even fixed a minimum on unskilled labors wages. However, sometimes governments may tend to go past simply establishing price floors and price ceilings, and attempt to take over the prices of the general markets. This was done throughout World War I and World War II, as well as during the Korean War in the United States. The attraction of controlling prices is logical. These types of controls offer an assurance of protecting those that might be specifically hard-pressed to endure an increase to prices. Nevertheless, by doing so, the governments may sometimes fall short in shielding consumers and at the same time damage others. In the first scenario we are faced with the government setting a price ceiling on gasoline. Price ceilings are created to prevent prices of a product from exceeding a set maximum. However, if this is not done with the utmost caution, and the price in which the ceiling is set is below the equilibrium, it can create a drastic shortage of the product. As seen in the graph below, in order to maintain an even flow between price and demand, the government would have needed to set a price ceiling of no less than approximately $50/barrel to avoid shortages back in June of 2012. For example, 1973 and1979, the United States set a price ceiling on gasoline, which was below the equilibrium (Rockoff, 2008). This caused sellers to sale gas on a first-come-first-served basis, which also caused many consumers to have to wait in extensive lines to acquire gasoline as well as creating shortages. This is just one obvious example of the kind of chaos that can be created from the government setting a price ceiling on the gasoline market. That being said, a price ceiling can be a good thing at times. In 2005, Hurricane Katrina was on its way to impact the southeast United States coast. As impact was determined and warnings went out, many convenient stores significantly raised their gasoline prices overnight. This is known as price gauging. It is against the law, and a price ceiling is one way of preventing these types of circumstances from taking place and abusing consumers. These laws also apply to the other end of the spectrum to protect the populace. There is also a flip side to price ceilings where the government may set a minimum price. In the second scenario we have the government setting a minimum wage for unskilled laborers also called minimum wage. This is called a price floor. In 1992 a survey of economists was published asking them about general controls. With the statement made, â€Å"Wage-price controls are a useful policy option in the control of Inflation,† there were only 8.4% who agreed, there were 17.7% who agreed with qualifications, but the majority of 73.9% disagreed (Alston et al. 1992, p. 204). The price floor on wages could causeunemployment levels to rise, although they do increase the overall income of laborers in the regulated markets. As we see in the chart below, minimum wage versus the job market is inelastic, meaning that as minimum wage rises, the amount of employed laborers falls, increasing unemployment rates. Do to inflation, minimum wage does need to be adjusted to a degree, however, that d egree is a very sensitive one, and governments must take this into consideration. Price ceilings floors, however, are not the only issues that can significantly affect the economic market. Governments also have to deal with international trade. International Trade is the trading of services and products between at least two countries. Mankiw states ‘all countries can benefit from trading one another because trade allows each country to specialize in doing what it does best, ’ (Mankiw, 2013). This simply means that international trade is based upon the foundation that each country alone is not able to produce everything they need with the resources at their disposal and stay inside a minimum cost and quality range. The households benefit by having the ability to attain the best products at the lowest prices. Countries benefit because they can focus their resources in producing extra of the products which have a more comparative advantage and trading the overflow for those products they are short on. Also countries exporting earn foreign exchange which helps with obligations towards international debt, and can even increase appreciation of their currency. Th e owners of the exported products also get an advantage by increasing the prices in-line with global pricing, which is normally higher than the domestic prices. There are also losses to international trading that can occur. For one, this trading creates a dependency on other countries which can become an issue under circumstances such as political disagreements or even war. For instance, almost every country imports oil from countries like OPEC and Venezuela (Mankiw, 2013). If even one of these two countries were to stop exporting oil, much of the world would be at a standstill in less than a month because of these dependencies. There are other issues that can also affect importing and exporting with other countries such as tariffs, which is a fee that is assessed on imports. This can be done in several different ways, but the most common is the ‘specific tariff,’ which is a simple per unit charge. Governments may do this to help increase revenue or to protect domestic markets and industries from the competition from foreigners (Investopedia, 2013). This charge must be paid by the exporting country to the importing country. However, this can also lead to trade wars, as the other countries may start to add tariffs themselves to all of their imports. The WTO (World Trade Organization) is in place to ensure avoidance of just such issues being exaggerated. We can see how a tariff plays a role of increasing the price of imported goods in the graph below. It is important to understand that tariffs are not the only taxes that can affect the price of products and services. Governments tax most everything with the exception of groceries. For example, taxes on gasoline are one of the hottest debated among economists. There have been numerous studies exploring the effects of a range of gasoline taxes and how they might affect supply and demand (Picker, 2013). The bulk of the revenue generated from gasoline tax is placed in the Highway Trust Fund. Debates started in the early 2000’s over the use of gasoline taxes to create revenue (Ferguson, 2007). There are those policymakers who believe that the tax should be reduced or even suspended all together. Mankiw reasons that an increase in the gasoline tax, even by just one dollar, would produce $100 billion revenue in the first year (Mankiw, 2006). This money could be used to start paying off on the deficient; however, some policymakers fear that it will just increase government spending. Therefore, the efficiency of the revenue is dependent upon how the government uses the funds. Also, taxes make the t otal price per gallon go up for consumers, who, as we have seen in the past, may look to alternative means of travel to save the cash, which will actually cause revenues to decrease as the demand for gasoline decreases (shown in the chart below). There are many different factors that can influence and affect the economic structure of the country. From price ceilings to price floors, along with federal taxes and tariffs on imports, every aspect of economics has its advantages and disadvantages. It is up to the households, firms, governments, and countries to work together to keep the economy flourishing with growth. References Alston, R. M., Kearl, J. R. Vaughan, M. B.. (1992). â€Å"Is There a Consensus Among Economists in the 1990’s?†American Economic Review82: 203–209. Retrieved from http://www.jstor.org/discover/10.2307/2117401?uid=3739600uid=2uid=4uid=3739256sid=21103270803147 Ferguson, J. (2007). â€Å"Should the US increase the Federal Gas Tax?†Major Themes in Economics. Retrieved from http://business.uni.edu/economics/Themes/ferguson.pdf Investopedia. (2013). Tariff. Retrieved on January 14, 2014 from: http://www.investopedia.com/terms/t/tariff.asp Mankiw, N. G. (2013) Principles of Economics[VitalSouce bookshelf version]. Retrieved from http://digitalbookshelf.southuniversity.edu/books/9781133890805/id/ch09 Mankiw, N. G. (2006), â€Å"Raise the Gas Tax,† Wall Street Journal, A12. Retrieved from http://online.wsj.com/news/articles/SB116131055641498552 Picker, L. (2013).The Effect of Gasoline Taxes on Work Effort. Retrieved from http://www.nber.org/digest/jul04/w10330.html Rockoff, H. (2008).Price Controls. Retrieved from http://www.econlib.org/library/Enc/PriceControls.html

The Many Meanings of Stephen Cranes The Bride Comes to Yellow Sky Essa

The Many Meanings of The Bride Comes to Yellow Sky Stephen Crane's "The Bride Comes to Yellow Sky" is a tale about a town sheriff, Jack Potter, who is returning home from a trip where he has married. Jack returns shamefully with his new wife of little worldly experience. The town of Yellow Sky knows Jack as the fearless Marshal who is never afraid to stare down the barrel of a gun. Jack's return to Yellow Sky happens to be at a time when the town drunk, Scratchy Wilson, is looking for a gunfight. However, the townspeople and Scratchy are disappointed to find him married, unarmed, and unwilling to fight. Before Jack arrived the townspeople were hoping for his arrival to cool off the situation. As one bartender said, "'I wish Jack Potter was back from San Anton', he shot Wilson up once--in the leg--and he would sail in and pull out the kinks in this thing'" (215). This quote and Jack's shamefulness are what leads people into discussions of this story. Jack Potter's marriage was kept secret from any of his friends and family, so his new wife was something unknown to anyone. For this and other reasons, Jack is afraid to return to Yellow Sky a married man. As critic Eric Solomon once put it: "He is condemned in his own eyes for betraying two traditions: he has tarnished the person of Marshal, a figure fearsome and independent, and he has tampered with the custom of partnership--he has not consulted his male friends" (136). Marshal Jack Potter no longer feels the thrill of being Marshal Jack Potter because of his new engagement. Jack is afraid he will lose his reputation that the people of Yellow Sky revere him for. Stephen Crane sets the story well because he allows the reader to understand the tw... ...d to be seen as by the people of Yellow Sky was as an ordinary man. Instead of being a heroic figure comparable to John Wayne, Jack Potter is now comparable to the a kind of man one would categorize as ordinary. Crane's fabulous depiction of the rise and fall of small town marshal is one of beauty. Jack Potter is seen in Yellow Sky as a person that one dreams of being, a wild-west hero that one idolizes. Soon, Crane reduces Jack Potter to the same level of the reader, and maybe below because he is now seen as a fallen hero. Works Cited Beer, Thomas. Stephen Crane: A Study in American Letters. 1923. Reprint. New York; Octagon Books, 1972, pg.248. Modern Fiction Studies, Stephen Crane Number V, No.3 (Autumn: 1959): 195-291. Solomon, Eric. Stephen Crane in England: A Portrait of the Artist. Columbus: Ohio State University Press, 1964, pg.136.

Prejudice and Discrimination Essay

What is social psychology? Social psychology is defined as the scientific study of how a person’s behavior, thoughts, and feelings are influenced by the actual, imagined or implied presence of other human beings. As we look back over the past few years, we see that some form of prejudice and discrimination still exist today in society. I want to elaborate on and define the types of prejudices and how people discriminate, how they are learned, and how to overcome prejudice. Prejudice is defined as a preconceived judgment or opinion that is usually based on limited information about a group or groups of people. Some people would commonly agree that prejudice is stereotyping. Discrimination is prejudicial attitudes that cause members of a particular social group to be treated differently than others in situations that call for equal treatment. There are many kinds of prejudices or attitudes, but discrimination is a result of prejudice. Several ways in which people are discriminated upon include age, race, and sex. People are often prejudice toward those form different ethnic groups, those form different religions, those from different economic levels, those who are overweight, and those who are too thin. Prejudice vary in two different types of groups called the in-groups and the out-groups or the â€Å"us† versus â€Å"them†. These groups are formed early in childhood. The in-groups are considered to be the particular person for whom they are identified with and the out-group is to be considered everyone else. Soon after the in-groups are established, the prejudice and discriminatory treatment of the out-group or groups soon follow. Then the out-groups are stereotyped based on the color of their skin or color of their hair and can be difficult. There are many laws that are in place to minimize or control the discriminatory behavior, but there is no law against having a certain attitude. The realistic conflict theory in prejudice is the increase of prejudice and discrimination by a degree of conflict between in-groups and the out-groups over limited resource, such as land or a job. A current example not related to land but religion would be, according to, â€Å"Neal Broverman, of The Advocate, Virginia’s lower house passed that would allow student groups at public universities to deny members because they conflict with the groups’ religious beliefs. This bill would prohibit discriminating against a student organization or group on the basis of the religious, political, philosophical or other content of the organization or group’s speech. † The bill also allows religious or political student organizations to determine who will not be allowed in their membership â€Å"in furtherance of the organization’s religious or political mission. â€Å"

The eNotes Blog Kindle to Launch Library Lending Check Out This Years Pulitzer Prize Winners and More,Free!

Kindle to Launch Library Lending Check Out This Years Pulitzer Prize Winners and More,Free! For me, books are like crack. I cannot have enough. I cannot read enough. When I got my Kindle for Christmas, I told myself,  Hey, self! Look! Everything in public domain is free! You wont fall victim to the latest New York Times book review, or the engrossing interview on NPRs Fresh Air. No sirree! There are still plenty of classics to be read! And now I find myself negotiating between food and that book I just heard about that sounds so interesting, and look! Its only $10 and I like hot dogs My index finger suddenly becomes possessed and takes over my brain and CLICK There it is, on my Kindle, in less than a minute flat. Sometimes I have been okay with the trade-off between food and fiction, but sometimes Im not and I regret my purchase. And because I am far too lazy to actually physically go to my local library, it is welcome news that Kindle has partnered with Overdrive, a company based in Ohio that heretofore has been providing digital media to schools and libraries. Kindle owners will be able to check out books from some 11,0000 different public libraries for a period of between seven and fourteen days, depending on the policies of the individual lending institution. The bad news is that there is not a firm date for when this feature will be available, other than soon.   The good news is that all of the features available on your Kindle purchases, such as highlighting and note taking, will also be operative on your library downloads. Soon, cannot come quickly enough for me, especially since the Pulitzer Prizes for Literature were announced this week.   You might want to bookmark this page if you can resist the temptation to click Buy Now: Fiction A Visit from the Goon Squad by Jennifer Eagen History The Fiery Trial: Abraham Lincoln and American Slavery by Eric Foner Biography Washington: A Life by Ron Chernow Poetry The Best of It: New and Selected Poems by Kay Ryan Non-Fiction The Emperor of All Maladies: A Biography of Cancer by Siddhartha Mukherjee

Julia Morgan, About the Architect of Hearst Castle

Julia Morgan, About the Architect of Hearst Castle Best known for the lavish Hearst Castle, Julia Morgan also designed public venues for the YWCA as well as hundreds of homes in California. Morgan helped rebuild San Francisco after the earthquake and fires of 1906- except for the bell tower at Mills College, which she had already designed to survive the damage. And it still stands. Background: Born: January 20, 1872 in San Francisco, California Died: February 2, 1957, at age 85. Buried at Mountain View Cemetery in Oakland, California Education: 1890: Graduated from Oakland High School, California1894: Earned a degree in civil engineering from the University of California, BerkeleyWhile at Berkeley, mentored by architect Bernard MaybeckTwice rejected by the Ecole des Beaux-Arts in ParisEntered and won several important architecture competitions in Europe1896: Accepted by the Ecole des Beaux-Arts in Paris and became the first woman to graduate from that school with a degree in architecture Career Highlights and Challenges: 1902-1903: Worked for John Galen Howard, University Architect in Berkeley1904: Established her own practice in San Francisco1906: Office destroyed in a fire caused by the 1906 earthquake; Morgan established a new office1919: Newspaper tycoon William Randolph Hearst hired Morgan to design his San Simeon estate, Hearst Castle1920s: Problems with her inner ear required surgery that distorted Morgans face and affected her balance1923: Fires in Berkeley destroyed many homes designed by Morgan1951: Morgan closed her office and died six years later2014: Posthumously awarded the highest honor of the American Institute of Architects and elevated to the College of Fellows (FAIA). Morgan was the first woman to be given the AIA Gold Medal. Selected Buildings by Julia Morgan: 1904: Campanile (bell tower), Mills College, Oakland, California1913: Asilomar, Pacific Grove, CA1917: Livermore House, San Francisco, CA1922: The Hacienda, William Randolph Hearsts home at Valley of the Oaks, CA1922-1939: San Simeon (Hearst Castle), San Simeon, CA1924-1943: Wyntoon, Mount Shasta, CA1927: Laniakea YWCA, Honolulu, HI1929: The Berkeley City Club, Berkeley, CA About Julia Morgan: Julia Morgan was one of Americas most important and prolific architects. Morgan was the first woman to study architecture at the prestigious Ecole des Beaux-Arts in Paris and the first woman to work as a professional architect in California. During her 45-year career, she designed more than 700 homes, churches, office buildings, hospitals, stores, and educational buildings. Like her mentor, Bernard Maybeck, Julia Morgan was an eclectic architect who worked in a variety of styles. She was known for her painstaking craftsmanship and for designing interiors that incorporated the owners collections of art and antiques. Many of Julia Morgans buildings featured Arts and Crafts elements such as: exposed support beamshorizontal lines that blend into the landscapeextensive use of wooden shinglesearth coloringsCalifornia redwood and other natural materials After the California earthquake and fires of 1906, Julia Morgan obtained commissions to rebuild Fairmont Hotel, St. Johns Presbyterian Church, and many other important buildings in and around San Francisco. Of the hundreds of homes that Julia Morgan designed, she is perhaps most famous for Hearst Castle in San Simeon, California. For nearly 28 years, craftsmen labored to create William Randolph Hearsts magnificent estate. The estate has 165 rooms, 127 acres of gardens, beautiful terraces, indoor and outdoor pools, and an exclusive private zoo. Hearst Castle is one of the largest and most elaborate homes in the United States. Learn More: Julia Morgan Papers, MS 010 at the Robert F. Kennedy Library, Cal Poly, San Luis Obispo. CAJulia Morgan: Architect of Beauty by Mark Wilson, 2007Julia Morgan Built a Castle Hardcover by Celeste Mannis, 2006Women of Steel and Stone: 22 Inspirational Architects, Engineers, and Landscape Designers by Anna M. Lewis, 2014