Week 3, Learning Team - Aggregate Demand and Supply Models - Economic Critique Essay Example for Free

Week 3, Learning Team Aggregate Demand and Supply Models Economic Critique Essay An Economic Critique of Aggregate Demand and Supply Models The recent fall of the United States economy has created a society of fear, insecurity, and doubtful investors, retirees, and consumers world-wide. Economists from around the world have come together to solve world-wide economic issues and bring stability back to businesses, households, and the government. Economics teaches you how to approach problems; it does not provide what is right or what is wrong, nor does it provide you with a definitive answer. Consistent evaluation of economic factors like unemployment, economic expectations, consumer income, and interest rates, can prove to be highly effective. Unemployment Rate The unemployment rate steadily has declined over the last three years; there was a difference of 1.6% from July 2011 to July 2013. In July 2011 the unemployment rate was at 9% while in July 2013 it was reported at 7.4% so there was a decline of 1.6% (Bureau of Labor Statistics: The Employment Situation, 2013). The unemployment rate lowering over the last three years has been a positive thing for the United States economy because it means more jobs were created in 2013 and thus more people are working. The positive upturn in the unemployment rate would means that the household income has increased and there is more spending money power available. Even though there is some positive feedback in the unemployment rate numbers there are still other issues that affect the economy and still need to be dealt with like the government budget cut, which could produce more businesses taxes. The economy is on a slow but steady up-swing do to job creations, which has caused the unemployment rates t o lower for the last three years. Some job markets have created new jobs like the retail and service market but other have not improved at all like the manufacturing and health care markets. The important thing is that there are more jobs being created and the unemployment rate is lowering. Expectations In the current economy, many Americans are concerned that a rebound is still many years away. The hope and expectation appears to be that a new Presidential administration will help turn the tide on the depressed economy. However, expectations do not appear to be overzealous as Americans still witness home foreclosures, job layoffs, bankruptcies, and an increase in requests for public assistance. The average American still seems to be overwhelmed with these economic issues, whether on a personal basis or among friends and family. There are numerous factors affecting consumer income during the current economic recession. The aggregate demand effects are the Keynes’ interest rate effect and the Mundell-Fleming exchange-rate effect. It is often mentioned that the aggregate demand arch is a sliding slope, since the lesser price levels, a greater amount is required. These factors are the existing factors on aggregate demand and supply. The Obama administration has a few strategies to join our economic growth and our fiscal prospects by stimulating a sound profitable recovery, taking initiative toward bringing down the deficiency and placing a foundation and contain health care costs.  "Experience suggests that the tough choices that are necessary to put the budget into what economists call â€Å"primary balance† – a situation where taxes and expenditures cover each other, excluding interest payments, or what is essentially equivalent, a situation where the debt-to-GDP ratio can stabilize – will require the cooperation of both political parties. Experience suggests that achieving this kind of cooperation will require deliberation outside the immediate cut and thrust of political debate (Reflections on Fiscal Policy and Economic Strategy, 2010). The Keynesian perspective is often focused on immediate results in economic theories. Policies focus on the short-term needs and how economic policies can make instant correction to a nation’s economy. â€Å"Classical economics focuses on creating long-term solutions for economic problems. The effects of inflation, government regulation and taxes can all play an important part in developing clas sical economic theories. Classical economists also take into account the effects of other current policies and how new economic theory will improve or distort the free market environment (Differences Between Classical Keynesian Economics, 2013). Consumer Income As of June 2013, median household incomes were up $598 month-over-month and $960 year-over-year. According to U.S. Department of Commerce (2013), â€Å"wages and salaries, the largest component of personal income, increased 0.5 percent in June after increasing 0.3 percent in May.† Personal expenditure is the vast element to aggregate demand. It is set on a household’s disposable income. There will be a shift to the left on aggregate demand if consumers buy more output at the price level. The current fiscal policy in place as it relates to consumer income states that the government can increase or decrease taxes on household income. An increase in taxes means a decrease in disposable income, because it will take money out of households. The opposite holds true if there is a decrease in taxes, because it will leave households with more money. Disposable income accounts for two-thirds of total demand. Economist had forecast a 0.1% rise, but reports show that spending fell 0.2% in May 2013 when adjusted for inflation. It is suggested that consumers pulled back from spending due to a weak income data. During periods of recession, the Keynesian theory recommends that Congress should increase government spending and decrease taxes to give households more disposable income to purchase more products, simultaneously. Through these methods of fiscal policy, the rise in aggregate demand stimulates businesses to increase production, employ more workers, and increase household incomes, enabling them to buy more. The classical theory concept known as â€Å"free market† requires little to no government intervention. This allows consumers to act in their own self-interest in regards to economic decisions. In the current issues regarding consumer income, Keynesian theory has been proven effective as shown in the increase of income and the shift in aggregate demand. If the current state of the U.S. consumer income remains on course, there should be a steady climb household disposable income. Interest Rates Based on my finding, as an international reporter, it was disclosed that interest rates have been the primary macroeconomic indictor of our economy today. It is an aggregate figure that represents how the present banks and financial sector operate on a national and regional economy level. So what is an interest rate, According to Colander (2010), Chapter 13, â€Å"Interest rates — the prices that are charged or paid for the use of a financial asset —are key variables in the financial sector.† It’s the rate of the cost of borrowing money, which reflects both the supply and demand of United States currency at a particular time. Therefore, after critiquing the current state of the U.S. economy interest rate, it was uncovered that monetary policy plays a major part in the decision making. This is why, According to Colander (2010), Chapter 13, â€Å"Money is a highly liquid financial asset that’s generally accepted in exchange for other goods, is used as a reference in valuing other goods, and can be stored as wealth.† It’s the Federal Reserve that uses the supply of money to regulate the current interest rate, which affects the cost of borrowing money to regulate the economy. According to Colander (2010), Chapter 13, â€Å"Federal Reserve Bank (the Fed) — the U.S. central bank whose liabilities (Federal Reserve notes) serve as cash in the United States.† Therefore, borrowing money is really known as interests’ rate that is set by the Federal Reserve that affects the rates on credit cards and home mortgages. In this current state of the U .S. economy, it has affected the interest rate and the exchanged rate; this is where the Fiscal policy has become a major factor. This policy has macroeconomic implications beyond consumer spending. In fact, when the government runs a deficit, it has to borrow from investors by issuing treasury bonds. Therefore, when the government competes with others borrowers, such as corporation, or consumer saving this will affect the raising of the interest rate. So in result, this policy recommendation should be setting interest rate sufficiently to attract investors and their money, so the government can have the cash to cover the budget deficits. Conclusion In conclusion, the economy plays an important role in all the markets and sectors whether it is with the government, households, or businesses. Each sector or market affects the other since it is a never ending cycle that affects job creation, consumer, and business spending power, and government spending. Economists study to prevent recessions and keep our economy on a positive cycle with continuous growth and spending power. In order to do this, businesses, government, and household need to continue spending to provide jobs for people. The people in turn will continue spending providing more money spending power. The government needs to analyze situations to prevent financial crisis and have ways to strength our economy (Colander, 2010). Everyone needs to play their part for continuous growth and prosperity. References U.S. Department of Commerce. (2013). Personal income and outlays, June 2013. Retrieved from http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm Bureau of Labor Statistics: The Employment Situation. (2013). Retrieved from http://www.bls.gov/news.release/pdf/empsit.pdf Colander, David. C. (2010). Macroeconomics (8th ed.). Retrieved from The University of Phoenix eBook Collection database. Reflections on Fiscal Policy and Economic Strategy. (2010). Retrieved from http://www.whitehouse.gov/administration/eop/nec/speeches/fiscal-policy-economic-strategy. Differences Between Classical Keynesian Economics. (2013). Retrieved from http://smallbusiness.chron.com/differences-between-classical-keynesian-economics-3897.html

Summary and Analysis of One Flew Over the Cuckoos Nest :: Ken Kesey Novel Film Movies Literature Essays

Summary and Analysis of One Flew Over the Cuckoo's Nest 1.1  Ã‚  Ã‚  Ã‚  Ã‚  Presentation of the theme and my motive to choose it I chose the subject about â€Å"One Flew Over The Cuckoo’s Nest† written by Ken Kesey in 1962 for my research paper because my mother told me years ago of the accompanying film and how interesting it is. Two years ago a friend of mine came back from his exchange programme in the United States of America. He told me that he and his theatre group there had performed this novel. He was and still is very enthusiastic about the theme and about the way it is written. Although I started reading the novel, I didn’t manage to finish it till the day we had to choose our subjects at school. When I saw this subject on the list, which we were given by our English teacher Mr Schà ¤fer, I was interested immediately. So I chose it. 1.2  Ã‚  Ã‚  Ã‚  Ã‚  My procedure After reading this novel and watching the film I went to the Braunschweig University Library, where I loaned books about Addiction to games of change, The American history in the sixties and The history of Red Indians to receive an insight into the life of the protagonist. With the use of the internet I got further information. By choosing my subject I didn’t assume that it would be so difficult to describe Mac Murphy’s decline. I often thought that the psychological background – knowledge would have been helpful. After having written my keywords I didn’t know how to start with my formulations but finally I wrote and wrote and in the end I had too many pages. As a result I had to shorten my text which was more difficult than my first problem. 2   Ã‚  Ã‚  Ã‚  Ã‚  Summary of the novel A half – Indian named Chief Bromden begins telling the reader about his experiences in an Oregon mental hospital. Head of this hospital is Nurse Ratched, also known as Big Nurse, â€Å"(†¦) a stern, controlling woman who behaves with a serene confidence†. She is the antagonist of the novel, manipulative and dictatorical, using any method to assert her power over the patients. In comparison to Randle Patrick Mac Murphy, the protagonist, she â€Å"(†¦) represents ideas of sexual repression, authoritarianism and conservatism† . The nurse and her new patient, who was admitted to the hospital by the state work farm for observation, are in every way opposed to each other - she demanding control, he revelling freedom.

Anger Management in the Health Care Workplace Essay

Health professionals carry out stressful activities on a daily basis. Nurses, doctors, and health workers’ environments involve a multitude of tasks, all to be done with amidst the stress of time, communicating with patients, and dealing with life and death situations. Besides individuals, health care work involves effectively integrating with the health organization, community expectations and government support. Breakdown of these systems is part of the health care work and is better to be viewed in a positive light. â€Å"A commentary suggests that conflict is a natural part of the human experience, especially in organizations. The intent of collaboration should not be agreement, but the ability for everyone to express their opinions no matter how disagreeable those opinions may seem. When people feel free to disagree, more ideas are put on the table, which can lead to more discoveries and to quantum leaps in improvement and innovation.† (Caudron, 1999) However, it is imperative to approach conflict management between health professionals using professional tools. The usual response of people under stress while reacting to opponents can be described in four responses. Angered people attack their adversaries by lashing out at them in the aim of either hurting the other party or protecting their interests. Some persons just merely avoid the conflict and start to ignore the other party. â€Å"Modern team-building experts say that the avoidance of conflict is the surest way to non-functional teams.† (Beck, 1998)   Sometimes, there is softening where conflicting parties pretend that everything is ok when its really not. And the last reaction to conflict is resolution where parties are able to resolve the conflict and find a point of unity once again. Health care professionals do not work as a single unit. High levels of teamwork are required in carrying out health care effectively and efficiently. Effective communication will help health professionals cope up with conflicts brought about by stress in the workplace. â€Å"Whether a manager is motivating the staff to increase sales or leading a team through a problem-solving process, effective communication is critical. Supportive language fosters a positive working climate, while negative or evaluative language can cause conflict and defensiveness.† (Aubrey, 1992) Different kinds of conflicts can be found in the workplace. â€Å"Task-oriented conflicts focus on the process the team will use to achieve its goals or its mission. People-oriented conflicts arise out of personality conflicts, struggles for leadership, and just plain rudeness by one member to another.† (Anonymous, 1996) But all conflicts can be resolved in due time with openness and processes to guide the management of conflict. One of these conflict management theories is elaborated by Montebello. Describing the conflict is the first step to resolving it. This step is a sure constructive way in getting all the parties’ help and goal to resolve the conflict. Describing the conflict makes the chaos stop. Conflicts found in health care are usually ridden with lots of emotions that conflicting parties need to take a different point of view first and get out of the situation in order to become more objective of the situation at hand. Once the conflict is described, exploring possible causes is the next process. The listening component is important in this level because parties need to hear out each other’s perspectives and hopefully try to understand the other party’s position. Health workers are good listeners and they will be integral to this part of conflict resolution. When the parties go to the stage where they start to give possible solutions, they get into the negotiating phase. Negotiation must be approached in a positive way. Through negotiation, everyone’s ideas are articulated and either supported or rejected by the parties. This process is crucial because when solutions do not pass through negotiations, they are more likely to fail and therefore the last step, which is to take action, will not be done in committed manner. Taking action leads to the actual solving of the conflict. Health care professionals will be able to work efficiently once more with regular conflict management. Conflict management is like oil to a machine. References: Anonymous. 1996.  How to cope with conflicts within the team. Getting Results †¦ for the Hands – On Manager:   C.  Saranac Lake:  Apr 1996.Vol.  41,  Iss.  4;  Ã‚  pg.  1,  1  pgs Aubrey, Charles A II,  Felkins, Patricia K.  Incentive.  1992. Team talk: How language and listening improve teamwork New York:  Dec 1992.Vol.  166,  Iss.  12;  Ã‚  pg.  51,  4  pgs Beck, Joe. 1998.  The failure to confront   Occupational Health & Safety.  Waco:  Jul 1998.Vol.  67,  Iss.  7;  Ã‚  pg.  20,  3  pgs Caudron, Shari. 1999.  Productive conflict has value   Workforce.  Costa Mesa:  Feb 1999.Vol.  78,  Iss.  2;  Ã‚  pg.  25,  3  pgs

Shakespeares Exploration in Sonnet 2 of the Themes of Age...

Shakespeares Exploration in Sonnet 2 of the Themes of Age and Beauty  · Look closely at effects of language, imagery and handling of the sonnet form. * Comment on ways in which the poem’s methods and concerns are characteristic of other Shakespeare sonnets you have studied. The second of Shakespeare’s sonnets conveys an argument the poet is making somewhat implicitly to a subject whose identity is hazy and unknown to the reader, even in retrospect. The simplified argument is an attempt by Shakespeare to persuade his subject to produce an heir and therefore retain his beauty through his child, to avoid wasting such beauty. The opening quatrain through use of imagery focuses on the†¦show more content†¦Beauty is conveyed through natural words such as ‘field’, which suggests smoothness seems to contrast with the military imagery roughness of trenches. The poet further emphasises the beauty of his subject’s youth through splendid words such as ‘livery’ and ‘proud’, which are characteristic of a contrast with time’s negative implications and eventual affects. The use of the comma on line 3 has the effect of creating an anticipatory pause – preparing the reader for a comparison between the present, where his subject is admired by all (‘so gaz’d on’ reflects this), and the future. Further contrast is created through the repeated use of natural imagery, although the effect of this in its negative sense – the image of a ‘tatter’d weed’ - refers back to the sense of time’s physical effec t. The second comma use seems to emphasise - through creating a pause, which draws the reader’s attention to the words following -Shakespeare’s point, and the idea that his subject will be ‘of small worth held’ is in direct opposition to ‘so gaz’d on’. Such oppositions help create the sense that an argument is in process. The following two lines describe the literal idea of his subject being asked what has happened to his subject’s beauty after it has been eroded by time. This concept may be familiar to the reader through its gossipy tone; and specifically the questioning andShow MoreRelatedShakespeare s Twelfth Night ( C. 1600-01 )2907 Words   |  12 Pagesphysical features and beauty and obedience, quietude, sexual chastity, piety, humility, fidelity, patience etc. were the standardised attributes that were expected to be possessed by the â€Å"virtuous† women. Women who did not emulate these conventions were regarded as objects of criticism by the male dominated society and this, being a social reality was not only reflected in Shakespeare’s but also in the plays of other dramatists of the Renaissance period. For example, in Shakespeare’s `Taming of the Shrew`Read MoreElizabethan Era11072 Words   |  45 PagesElizabethan Age is the time period associated with the reign of Queen Elizabeth I (1558–1603) and is often considered to be a golden age in English history. It was an age considered to be the height of the English Renaissance, and saw the full flowering of English literature and English poetry. In Elizabethan theater, William Shakespeare, among others, composed and staged plays in a variety of settings that broke away from Englands past style of plays. It was an age of expansion and exploration abroad