Is Education A Common Good - 1299 Words

We, in the United States of America, live in an inarguably market-driven economy where he who has the most or the best usually wins. Whether its the most wealth, the most power, the most influence, or when speaking of education, the most opportunity; starting out on top has life altering advantages. Many Americans would argue that Education is a common good, a stepping-stone through which students can make something better of their futures. Therefore, should society set up a system to create winners and losers in education? There are also those who believe that serving children, stakeholders, and our communities can come from market-based reforms. So where did we come from and in what direction are we headed in the future of education? Several key early American leaders such as George Washington, Benjamin Rush, Thomas Jefferson, and Noah Webster argued that it was important build a powerful domestic system of education so that Americans could receive the highest-quality education a t home rather than going overseas for their education (Jeynes, 2007). These founders of America’s post–Revolutionary War education system were extremely well educated and consequently established rigorous standards in the nation’s schools and colleges which made the fledgling country both progressive and competitive. American students who continued their education were expected to become fluent in two or three languages and have well-developed interdisciplinary expertise inShow MoreRelatedThe Education Of The United States1575 Words   |  7 PagesStates, few have seriously argued the importance of education to society. Although education was left out of the United States Constitution in the interest of states’ rights, Thomas Jefferson was not alone in believing that â€Å"the most important bill in our whole code is that for the diffusion of knowledge among the people†¦ [which is necessary] for the preservation of freedom and happiness.† (2 51). Despite a consensus on the necessity of education, its actualization has a storied past, one riddled withRead MoreThe Purpose Of Education1038 Words   |  5 PagesThe common good refers to the advantage of all people in society. The purpose of education is to prepare students with the life skills they need to be better citizens when they become adults. Most schools promote the idea of the common good in their mission statements. My school mission statement is, â€Å"The mission of the Wadsworth City Schools, in cooperation with families, school personnel, and community, is to provide an education in a safe environment that will enable all students to reach theirRead MoreThe Common Core State Standards1733 Words   |  7 PagesCommon Core, these two words have come to mean more, in the past four years, than two words with no similarities. 43 out of 50 states are signed on to the Common Core State Standards as of now (Khadaroo). This paper will review the good, the bad and the alternatives to the Common Core, from the eyes of a student that is affected by these standards everyday. Through researching this topic, it has become apparent that the common core has good intentions, however bad implementations. Forty PercentRead MoreCommon Core Should Be Enforced Across The United States1523 Words   |  7 Pagesto whether the Common Core should be enforced across the United States. One of the most wildly accepted views is that even though the Common Core could be a good idea, it is unnecessary, that America has done just fine without it. The Common Core is not working how it should and schools should go back to the way it was before. Many professors and researchers agree that the Common Core does not work and might even be hurting the youth of America. Parents who disagree with the Common Core have startedRead MoreIs American Education Upholding Its Standards?976 Words   |  4 PagesIs American Education Upholding Its Standards? The idea of education is that it properly educates students. American schools teach a variety of subjects over 12 years of schooling. The skills taught are supposed to prepare students for adult life. These skills range from basic math and english to more complex knowledge for those going to college. Students are supposed to graduate with some common knowledge. Most of the more advance learning comes from high schools. This is where they learn how toRead MoreThe Common Core Of Education1086 Words   |  5 Pages The Common Core in Education Linda Lynch Colorado Technical University Abstract The Executive Branch of the United States Government and the President has the powers that can influence many things one of them is our Education and the Common Core law that had taken in to effect back in June 2010. Even before the Common Core States standards were, official dozens of states had adopted the standards. Now even though it all may look good on the outside does not make it good. ManyRead MoreWhat Do Our Schools Serve The Goals Of A True Education?1362 Words   |  6 PagesTrue Education? Many may believe that the United States school system is flawless; that no other countries school system or organization is as advanced as ours, â€Å"just like our government.† Those people need to come into the realization that our school system is broken, we need to be realists and not dreamers when it comes to something as serious as our education. Our school system has not been putting in the needed or required effort to reach the goals of true education or a good education that weRead MoreWhy Does America Need The Common Core? Essay1437 Words   |  6 PagesWhy does America need the Common Core? The lack of educational benchmarks and standardization in the United States of America, USA is disjointed and subpar leaving students ill prepared to enter the workforce and college. As evidenced by the persistent problem of students graduating and passing required exit exams in high school; yet, they still needed remediation upon entry to college. The Common Core is good because it provides a set of age appropriate learning goals and sets a national high-qualityRead MoreArgumentative Essay On Common Core1131 Words   |  5 PagesArgumentative Essay on Common Core â€Å"Without Common Core we (America) are not where we want or need to be.† The New York Times reported this in August, 2013. Currently, every state sets its own curriculum for its schools. The result is that the United States ranks â€Å"25th in math, 17th in science, and 14th in reading compared to students in 27 industrialized countries.† Without national standards, students depend upon the luck of where they were born or schooled to get a comprehensive education that will prepareRead MoreThe Debate Over The Future Of Education Essay1385 Words   |  6 PagesThe debate over the future of education in the United States rages on. The subject of education in the United States is an incredibly divisive one, and for good reason, due to the large and overreaching impacts education has on our society as a whole. Historically, the issue of education has been controversial in nature, one that begets passion, and prevents objective thinking from taking root. Past decisions remain heavily contested for their efficacy, and new ideas suffer the same fate. Even just

The Gretest Poverty of All Bieng Unwanted, Unloved and...

â€Å"We think sometimes that poverty is only being hungry, naked and homeless. The poverty of being unwanted, unloved and uncared for is the greatest poverty.† (Mother Teresa) South Africa’s poverty affects the country in numerous ways; however and the most vulnerable margin in the country is the most effected. Children are the most vulnerable aspect in any country, as they are still developing, and don’t have the resources to be independent; they are also only able to take what they are given without being able to change or produce anything. So children being uncared for and abstained from a healthy atmosphere that helps them develop properly, does not only traumatize the child permanently on the long run; but also provides an unpromising†¦show more content†¦Ã¢â‚¬Å"In sub-Saharan Africa where about 51% of the people lived in extreme poverty when the poverty line of $1.25 per day was used (UNEC for Africa 2010). Although South Africa is a middle-incom e country, a large proportion (26.2%) of its population lived in poverty when the same poverty line of $1.25 per day was used.† (Gouws 1202) This being said South Africa has a vulnerable economy due to the constant political change, and inequality. This vulnerability has a huge affect on the country as a whole, on individuals, on families, on households, and especially on children. Knowing that will help explain the curtail affect that poverty has, specifically on a vulnerable country such as South Africa. Poverty is not only a word reflecting an economic term; it is rather a profound word exposing a conception of a country, which makes it a long lasting phenomenon. Many poverty researchers suggest that ‘poor’ (origin of poverty) means lacking not only material resources and health but also capabilities, such as social belonging, cultural identity, respect and dignity, and information and education. (Engle and Black 1) Poverty is in most situations, a state of a country, which lasts for decades, as a country couldn’t retrieve for example it’s identity in a couple of years. The establishment of individual’s rights is also something requiring a lot of system reformation, which takes a great deal of time. Above all developing a country’s economy is as hard as it can get.

Compare and contrast Hide and Seek by Vernon Scannell...

Hide and Seek concerns a boy hiding cautiously whilst playing hide and seek with his peers. Gradually, he realises he has been abandoned, and fear overcomes him due to being isolated in the dark surroundings. The tone is incredibly certain and positive at the beginning. However, his confidence gradually fades away as the realisation of his abandonment occurs. The mood is analogous to the tone. At first, we can sense the excitement. This modifies to anxiety and nervousness towards the end. The poet uses language features to portray the tone. On the first line, exclamation marks are used to show the enthusiasm of the boy. Scannell uses personification and the senses to describe the surrounding atmosphere in a vivid way. Therefore, the†¦show more content†¦But where are they who sought you? This is the voice of the adult reflecting on a bitter experience. It is symbolic that the poem begins with the imperative and exclamation marks and conspicuously ends with confusion and ques tion marks. It emphasises the gradual change from having a positive attitude to realisation of isolation. An alternative point that proves that the mood is positive at the beginning is that the child compares the current situation to a typical, happy one the majority of childrens experience. The sacks in the tool shed smell like the seaside. This gives the impression of a dazzling, sunny beach with a lot of happy children playing without constraints and restriction. This is ironic as the child is isolated in a dark, begrimed place with restricted space. The poem is one continuous stanza. The dramatic monologue symbolizes the unbearable length of waiting time. The character is speaking directly to us, explaining his different feelings and thoughts. The poem can be divided into two parts. They are positivity and certainty, and negativity and realisation. The first line of the second part is, it seems a long time since they went away. Previously, the child attempts to convince himself they are still looking for him. They must be thinking youre very clever. The effect of this is to emphasise the naivety and innocence of the child. For the majority of the poem, the child

Is India really a Democracy - 862 Words

Is India really a Democracy? To : The Times of India Subject: Reflection on an article in TOI by CM Arvind Kejriwal, about India being democracy. Dear Sir, I am a student in New Delhi and recently came across one of your article on the TOI blog titled as â€Å"Is India really a Democracy†. Firstly, I would like to appreciate you Mr. Arvind Kejriwal for writing such an important, inspiring and a worth reading article. Before reading this article, I had gone through some of your activities and credentials and I could gather that you are a man of actions who does not believe only on preaching or giving lectures to others but actually is a go getter. It is also very inspiring to know that you have always been a first timer; you qualified through IIT, IRS and the Civil Services Exam all in your first attempt and now you have made it possible as a Chief Minister as well in the very first attempt. You resigned from a very lucrative job which could have given you a fat bank balance apart from a few lavish bungalows and started a drive against bribery and corruption through your Organization â€Å"Parivartan†. There is therefore no doubt that today you are the role model to us ‘The Younger Generation’. I do agree with most of the flaws that you have stated about our current Indian Political System. From my limited knowledge about the Indian Polity and what I acquired after reading your article is that the main problems that lieShow MoreRelatedVoter Awarenes and People Participation the Democratic India885 Words   |  4 PagesMass for Awareness Democracy is a form of government in which power is held by â€Å"the people under a free electoral system. It is derived from the Greek ÃŽ ´ÃŽ ·ÃŽ ¼ÃŽ ¿ÃŽ ºÃ ÃŽ ±Ãâ€žÃŽ ¯ÃŽ ± (dimokratia), popular government which was coined from ÃŽ ´ÃŽ ®ÃŽ ¼ÃŽ ¿Ãâ€š (dÄ“mos), people and ÃŽ ºÃ ÃŽ ¬Ãâ€žÃŽ ¿Ãâ€š (kratos), rule, strength in the middle of the 5th-4th century BC to denote the political systems then existing in some Greek city-states, notably Athens following a popular uprising in 508 BC. When we talk about democracy, the popular phraseRead MoreIndia: Truely a Democratic Country862 Words   |  4 PagesINDIA: TRUELY A DEMOCRATIC COUNTRY India is a democratic country. How do you feel when you say so Obviously proud, because it is said that India is the largest democratic country. But question is that whether this democracy is really intact for what India used be known of Not only I you or anybody, everybody believes that India is a democratic country. But it doesn’t sound realistic today, and it needs a discussion and a lot of cerebration. Whether democracy means merely a term or justRead MoreIndia s Survival Of Democracy871 Words   |  4 Pagesrate, low literacy and scarcity of resource, the survival of democracy becomes difficult and eventually fails. India is a country with all these problems, however, it still manages to be democratic, making the survival of democracy in India a unique outcome and an area of study. The endurance of democracy in India may be explained through reasons like how it has a constitution that is inclusive, its middle class that takes deep pride in India being democratic and the electronic media that not only informsRead MoreSnakes and Ladders1143 Words   |  5 PagesSnakes and Ladders by Gita Mehta is a book that celebrates India and its history. The author provides many short stories that try to show how India is trying to develop as a nation. She tells about the complex religious system, as well as cultural diversity, and the corruption of India s government. She shows the reader many aspects of the experience of living in India, which Mehta clearly shows that she loves, but she attempts to remain neutral about the issues that she discusses. When theRead MoreThe Indian Pakistan Conflict That Is Affecting Cricket991 Words   |  4 PagesThe Indian-Pakistan conflict that is affecting cricket Issues over beef lynching India visas denial to a group of U.S religious freedom group Photoshopped politics in India What did you learn about India that you think is relevant to this course? (Mention at least 3 separate topics and write a paragraph for each one) The Indian-Pakistan war had started since 1947 and these two countries had been involve in four different wars and many borders conflicts. All these wars had seriously impacted cricketRead MoreIs India A Successful Democratic Country?1461 Words   |  6 PagesNations look at the United States as an example of a successful democracy, which is not necessarily true. The United States does a better job at making sure it’s citizens are well aware of their individual rights and liberties. Although many countries claim to be democracies, not all fulfill the duties a democratic nation has to its people and its society. The South Asian country of India is an example of a nation that is a titled democracy, but fails at successfully performing democratic responsibilitiesRead MoreImportance of Good Precedents for Sustaining Democracies Essay1392 Words   |  6 Pagespartition of India occurred. When Britain oppressed India, they had a divide-and-conquer policy that exacerbated the reli gious and cultural rifts that already existed in the society. The Muslim League, which believed in the ideology of â€Å"Pakistan†, actively campaigned to gain more support for the Muslims in India, especially under the guidance of dynamic leaders like Jinnah. Pakistani leader and founder Muhammad Ali Jinnah believed that this partition was inevitable since â€Å"‘[a] united India would neverRead MoreIndian Democracy1640 Words   |  7 Pagesexperiment with democracy has, through the years, proven to be a success. There is an established Constitution that is fair to all the people living in the country, the power of the leadership is vested within the people, and the people are able to voice their opinions without fear. These factors create the foundation on which a democratic nation can stand and continue to build on in. The early leaders of India knew of this, moreover they also knew that it was even more important for India to have theseRead MoreEssay on Value Syst ems and Successful Markets 861 Words   |  4 PagesEconomic success defines a nations success in modern day society. Sure India has had a prosperous past. But as we continue in this post colonial world, the need to prove ourselves has only been higher. It has been over 60 years since we achieved independence and became a republic, we are yet to prove our â€Å"potential† to the world. The world’s parameter to determine our capabilities are high, just as it ought to be to encourage each nation to develop to its fullest ability. Competition generally helpsRead MoreShifting Of A Parliamentary System988 Words   |  4 PagesShifting To a Parliamentary System The Philippines has always been known to have a Presidential system of government, but I believe that this type of governing isn t really fit for our country considering that our nation/the people cannot really make a responsible decision for themselves, considering that this is a democracy which it should be run by the people. There are many reasons why the Presidential system isn t very reliable and is very unfair. One of these is how the the leaders are

Understanding human rights Free Essays

Introduction Human rights are defined as those inalienable and universal rights and freedoms which all individuals enjoy simply because they are human, they are entitlements which we all share regardless of age, gender, race, sexuality, class or culture (Henry 2009: 1). Human right are rights inherent to all human beings, irrespective of the nationality, place of resident, sex, national or ethnic origin, colour, religion, language, or any other status. Human rights are entitlement gotten outside/without discrimination. We will write a custom essay sample on Understanding human rights or any similar topic only for you Order Now these rights are all interrelated, interdependent and indivisible in the sense that most states have the same human right laws that govern the security of individual and group with brings about equality before the law and freedom of expression; economic, social and cultural rights, such as the rights to development and self-determination. Most human rights are expressed and supported by law, in terms of treaties, customary international law, general principles and other sources of international law. infact, these human right laws lay down obligations of Governments to act in certain way in order to promot and protect human rights. Human rights entail both rights and obligations. States assume obligations and duties under international law to respect, to protect and to fulfil human rights. The obligation to respect means that States must refrain from interfering with or curtailing the enjoyment of human rights. The obligation to protect requires States to protect individuals and groups against human rights abuses. The obligation to fulfil means that States must take positive action to facilitate the enjoyment of basic human rights. At the individual level, while we are entitled our human rights, we should also respect the human rights of others. Universal Declaration on human rights in 1948 contains 30 articles. but the most important of these are considered as follows: the right to life, liberty, property and security of person, the right to an education, the right to employemtn, paid holidays, protection against unemployment and social security, the right to participate fully in cultural life freedome from torture or cruel, inhumane treatement or punishment, freedome of expression and opinion freedom of thought, conscience and religion. Vienna World conference on human rights 1993 noted that ‘it is the duty of states to promoted and protect all human rights and fundamental freedoms, regardless of their politica, economic and cultural systems. Human Rights Act in the UK â€Å"The Human Rights Act was brought about as a result of the European Convention on Human Rights, which was set up by the Council of Europe. This was to ensure that the violations of human rights under the reign of Hitler during the Second World War, would not be able to happen again. The act however, was only passed into UK law in October 2000. individual now have the right to seek redress in a UK court instead of having to visit the European Court of Human Rights in Strasbourg, which covered the act of: the right to life, prohibition of torture, inhuman and degrading treatment, Freedom from forced labour, Right to liberty, Right to a fair trial, Retrospective penalties, Right to respect for private and family life, Freedom of thought, conscience and religion, Freedom of expression, Freedom of assembly and association, Right to marry, Prohibition of discrimination†. The Human Rights Act 1998, has affected the lives of British Citizens, for example recently a law allowing terror suspects to be detained for up to 90 days without charge, but this was dropped as it was deemed to breach the rights of those being detained for such a long period of time. Importance of human rights Human rights help everyone to have a secured and safe life. it educates people to be directed to the full development of human personality and to the strengthening of respect for human rights and fundamental freedoms. It shall promote understanding, tolerance and friendship among all nations, racial or religious groups, and shall further the activities of the United Nations for the maintenance of peace. Criticisms against human rights Human rights as a principle is always positive. They should be the basis for evaluating any regime, aid program, etc. The criticism can arise when human rights are written down as laws, as they are almost impossible to police and there can be very blurry edges when defining everyday practicalities, such as a bill of rights. Some sociologists also see a problem with western countries defining human rights in a way that makes sense to westerners, yet is at odds with another culture. An example is child education. we see it as a human right and wish to enforce it globally. Many poor countries depend on working children in order for the family to eat and survive. When the child is forced to go to school, they lose a breadwinner, and a parent can also be forced to cease work in order to now attend to a child who is not working at home like they used to. Costs are also astronomical in developing countries to school a single child, and many families are large. end result is deepening of impoverishment before the fruits of the child’s education kick in decades later. So is this still an easily recognisable human right? â€Å"Human Rights† is a much used and abused term today, and is used extensively for political gain. The term is used to defend Human freedom as well as destroy it. People tend to attach importance to particular human rights issue according to ideology and political convenience. if a man is not to have recourse or rebellion against tyranny and oppression, taking law into their own hands,†Human Rights† should be built into the society as a natural rule. As a last resort only, law should be applied as a protection. Desite the fact human right laws are in existence, there is still racism and discrimination which has criticised human right in a way that it can no longer make any impact to individual in some societies. Conclusion Human rights are the rights of individual men and women to basic freedoms such as freedome of association, freedom speech, etc. one should note that ‘the improvement fo one right facilitates advancement fo the others, likewise, the deprivation of one right adversely affects the others. How to cite Understanding human rights, Essay examples

Operational Role Of Security Information - MyAssignmenthelp.com

Question: Discuss about the Operational Role Of Security Information. Answer: Introduction Event management is one of the industries that involves multiple of activities, which ranges from wedding to festival events. This is the reason behind the growth of this industry in the global sphere. Every event differs in some way or the other. With a change in lifestyle, people like to arrange an event for every reason. This increases the demand for such events with successful people involvement. Event can be small consisting of local region or it can be a big event covering a bigger prospect. However, it is seen even with fast growth of such events on every ground, be it for festivals or exhibition, the industry still lacks behind due to various reasons (Ibisworld 2018). The paper discusses the competitive nature and growth prospect of the industry by carrying out a micro level as well as macro level analysis. Micro Industry Analysis Micro industry analysis explains the competitive nature of the industry and demand of people for the industry. Micro level analysis visualizes the threat that the company is facing and the reason behind it being laid behind even after rising demand. Competitors Analysis The industry faces huge competition due to existence and emergence of many small and big events in local or global level (Grant 2016). There are several diversified industries that emerged rapidly in local as well as international level. This was the main reason behind the fragmented nature of the industry. There has been keen competition for different types of events such as travel, meetings, exhibition and others. These events are known as MICE events and companies are entering into these events largely. Reed Exhibition is the similar kind of company entering the industry. The company arrange exhibition and faces huge competition from other event management company. People Analysis Exhibition sector is one of the growing sectors in the event management industry. This is because the rising demand for exhibition has made it grow drastically in 2012. Exhibition is also oneof the most attractive types of events compared to others. This is because the event is the most profitable of all the other events of the industry. The event saw a huge customer traffic since it has started. This has also led to huge customers for Reed Exhibition and made them one of the largest event organizers of the world (Porter and Heppelmann 2014). Macro Industry Analysis Macro environmental analysis will analyze the threat and opportunity the business is facing by analyzing its buyers, supplier and other competitors. Threat from new entrant Event management industry faces huge threat of new entrant in the industry. This is because; event can be organized by anyone at a small level and later increases by investing very little. Thus, new companies find it easy to enter the industry and start their own business. Moreover, compared to cost, profit is quite high in this industry (Jones 2014). Thus, demand for entering the business increases. Threat from rivalry Industry faces huge threat from rivalry within the industry due to existence of high competition. The industry faces huge competition from various typesof events. Even in the exhibition event, the industry has seen many new companies entering and organizing exhibition. Competitors not only come from exhibition organizers, it also comes from wedding, meeting and other types of meeting organizers (Mallen and Adams 2017). Similar threat is experienced by Reed Exhibition organizer due to an increase in similar type of organizers in the industry. Threat of substitutes The industry faces huge threat from substitutes because even though the demand for such events has increased in recent time, yet there are people that arrange their own family events. Moreover, many companies arrange for their own events from time to time, instead of giving it to the event organizers (Bhatt, Manadhata and Zomlot 2014). These substitute event Organizers Company face increases the substitute threat to the industry. Bargaining power of suppliers Bargaining power of the suppliers is low in the industry because the supplies that the industry needs are common and are available easily everywhere. Thus, an increase in price by one will force the company to shift to other suppliers. Thus, this reduces the power in the hand of the suppliers (Bhatt, Manadhata and Zomlot 2014). Moreover, there is no switching cost for the companies to move from one supplier to the other. Suppliers have to go according to the event management company in some factors in order to keep getting business for themselves. Bargaining power of buyers Bargaining power of the buyers are high in this industry as there are large number of companies that the customers can choose according to their own preference. Moreover, the consumers also face no switching cost for switching from one company to the other (Fleisher and Bensoussan 2015). Thus, it is necessary for the companies to go according to the consumer preference in order to gain the trust of the consumer. SWOT Analysis SWOT analysis helps in defining the strength and weakness that the industry is facing based on the operation and competitive environment (Bull et al. 2016). Strength Huge growth in the past years Huge range of increasing demand Various type of event management categories Face to face business activities Weakness Large bargaining power of the customers Rising competition lead to reduction in price Large number of substitute to industry Opportunities Extensive growth prospect Better target audience Winning trust of the customers and increase loyal customers Threat Threat from competitors Threat from new entrant to the industry Threat from technology improvement Topic: SWOT Analysis Source: Authors creation Conclusion From the above analysis, it can be deduced that event management industry is one of the competitive industry. This is because of the increasing competitors in the industry, both small and large scale. Moreover, the company also faces huge threat from substitute, which increases the competition even further. However, due to high growth prospect the industry is considered as one of the fragmented industry. This is because of huge varieties of event that the industry organizes. The industry is experiencing increasing types of event organizers due to increasing demand from the public. References Bhatt, S., Manadhata, P.K. and Zomlot, L., 2014. The operational role of security information and event management systems.IEEE Security Privacy,12(5), pp.35-41. Bull, J.W., Jobstvogt, N., Bhnke-Henrichs, A., Mascarenhas, A., Sitas, N., Baulcomb, C., Lambini, C.K., Rawlins, M., Baral, H., Zhringer, J. and Carter-Silk, E., 2016. Strengths, weaknesses, opportunities and threats: A SWOT analysis of the ecosystem services framework.Ecosystem services,17, pp.99-111. Fleisher, C.S. and Bensoussan, B.E., 2015.Business and competitive analysis: effective application of new and classic methods. FT Press. Grant, R.M., 2016.Contemporary strategy analysis: Text and cases edition. John Wiley Sons. Ibisworld.com.au. (2018).Event Promotion and Management Services in Australia Market Research | IBISWorld. [online] Available at: https://www.ibisworld.com.au/industry-trends/market-research-reports/administrative-support-services/event-promotion-management-services.html [Accessed 12 Jan. 2018]. Jones, M., 2014.Sustainable event management: A practical guide. Routledge. Mallen, C. and Adams, L.J. eds., 2017.Event management in sport, recreation and tourism: theoretical and practical dimensions. Taylor Francis. Porter, M.E. and Heppelmann, J.E., 2014. How smart, connected products are transforming competition.Harvard Business Review,92(11), pp.64-88.

International Economics Monetary Theory

Question: Discuss about the International Economics for Monetary Theory. Answer: Introduction The economic performance in the short run as well as in the long run with respect to the macro variables present in the country is studied in macroeconomics. The complex nature and the process in which an economy functions are easily analyzed (Scarth, 2014). Macroeconomics includes the production of goods and services in the economy. In the essay the short run equilibrium and the long-run equilibrium of an economy is discussed. The short-run equilibrium is evaluated in order to understand the issues that the economy faces in the short run. Moreover, the long-run equilibrium is discussed along with the principles and theories related to it. The government of an economy plays a vital role in achieving the equilibrium of the economy. The essay supports to analyze that for an economy to be stable, it is important to operate at an output level where the aggregate demand curve, long run and the short run aggregate supply curve intersects. The essay further analyses the objectives in a systematic manner. The essay at first discusses the aggregate demand curve, the short-run supply curve and the long-run supply curve. The three concepts will be discussed to understand the topic in details. Analysis The consumption expenditure, investment, government purchases and the net exports are included in the aggregate demand curve of an economy. The curve is downward slopping which is expressed by the equation Y= C+I+G+NX. The aggregate demand curve shifts when there is an alteration in the autonomous monetary policy, tax rate, consumption expenditure, and government purchase (Wray, 2015). The short-run aggregate supply curve includes three basic elements. These elements are output gap, inflation shock and expected inflation of an economy. There is a positive slope in the supply curve as the slope of the curve is depended on how fast the price level respond to the changes in the output gap (Stock Watson, 2015). In the case of the long-run aggregate supply curve, the amount of capital and labor required in the production is the determining factor. The availability of resources for the production procedure also affect the long-run aggregate supply curve. The natural rate of output in an economy is vertical. This rate of output is derived from the natural rate of unemployment. In the short run, an economy obtains the equilibrium when there is an intersection of the aggregate demand curve and the aggregate supply curve. There are three types of market in an economy namely the financial market, labor market and the product market (Mankiw, 2014). It is important for every economy to attain equilibrium level in all the markets in order to support the economy to flourish. The aggregate demand and supply model help to determine the various fluctuation present in an economy. The following figure shows the short-run equilibrium: In the above figure, AD and AS1 are the initial demand and supply curve respectively. With the intersection of the demand curve, the short run equilibrium is E1, the output level is Y1 and the price is P1. There is an outward shift in the short run supply curve because of the sudden shock. The supply curve shifts from S1 to S2. As a result of the shift in the SRAS curve, the price level falls from P1 to P2. Simultaneously, there is an increase in the output level from Y1 to Y2. The final effect is the change in the short run level of equilibrium, considering other things remaining constant. In the case of short run, there is minimum one factor used in the production process which is fixed. Therefore, the economy may or may not be able to gain back the stability lost in the market. The government of an economy plays a very important role in the process of bringing economic stability in the short run. The government makes measurable changes in order to bring the situation under complete control. To achieve the objectives, the government exercises different contractionary and expansionary fiscal measures depending upon the situation(Weeks, 2013). The contractionary measures are used to reduce the market output while expansionary measures are used to overcome the deficit in the economys output. Changes in the tax level, inflationary measures, unemployment measures and various other aspects are considered by the government in order to bring the equilibrium in position(Benassy, 2014). The long run supply curve of an economy is vertical. It is important for an economy to choose the equilibrium where the short run aggregate supply curve, long run aggregate supply curve and aggregate demand curve intersects(Gandolfo, 2013). As per the figure, the equilibrium is at the point where AS1, LRAS and AD1 and intersects. There is a shift in the AD curve from AD1 to AD2 due to the change in the fiscal policy measure. Hence, the equilibrium will be obtained at a point away from the earlier long run equilibrium. The price and output level will rise. There will be a new be equilibrium in the short run. As the economy moves towards the long run, the expected price level will adjust itself to meet the actual price level of the firms, workers and producers (Borio, 2014). Thus, the AS curve shifts to AS2 from AS1. Moreover, as a result of the contractionary measures, the opposite happens. However, the economy reaches the equilibrium again in the long run. Hence, in order to attain stability the long run aggregate supply curve, short run aggregate supply curve and the aggregate demand curve needs to intersect at the same point. Conclusion The study helps to understand the way in which economy achieves equilibrium level of output despite the external and internal shocks of the economy. Although the short run equilibrium is affected by the shock, in the long run, the stability is achieved. The output level remains same while the price level changes due to the stability. The government intervention in short run with the help of fiscal policies supports the balancing of total demand and the total supply of goods. Thus, the economic fluctuation is reduced in the long run and stability is gained. References Benassy, J. P. (2014). Macroeconomics: an introduction to the non-Walrasian approach. Academic Press. Borio, C. (2014). The financial cycle and macroeconomics: What have we learnt?. . Journal of Banking Finance, , 45, 182-198. Gandolfo, G. 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