Importance Of Store Policies On The Workplace - 995 Words

Importance of Store Policies A policy is a predetermined course of action in which employees and managers are expected to follow. They serve as a model for the course of action which best embodies the store’s vision and are a direct link to upper management. They are general in nature and typically vague. Because of the limiting reach that the upper company has on each individual store, store policies must effectively communicate the will of the company as a whole. Employees and managers need clear distinctions between what is and what is not acceptable at the workplace, because any ambiguity will lead to a problematic environment. Policies are essential in clearly stating what the rules of the company are, including courses of action†¦show more content†¦Lawsuits Lawsuits are an unfortunate part of businesses, whether they arise from negligent performance or a customer trying to â€Å"pull one† over a corporation that is too big to fail. The most relevant lawsuit type in regard to worker relationships are sexual harassment charges, where situations that are inappropriate for work arise. For example, when a relationship ends, if one member of the former couple continues to pursue the other member at work after a breakup to try to patch things up, the employer can be found liable for sexual harassment (Sutherland). Most companies are silent on policy regarding employee relationships, and as an employer that regularly hires the young adult demographic (18-25), Forever 21 should implement an effective policy protecting itself from further lawsuits in the future. One potential solution is to implement a policy prohibiting dating altogether. Habanero Consulting would advise against this approach, as employees will most likely still maintain relations, except Forever 21 will still be liable. Sexual harassment lawsuits have a serious impact on a company’s financial health, more so for companies which foster problematic environments that lead to more sexual harassment claims. It has been estimated that sexual harassment costs a typical Fortune 500 company $6.7 million a year in absenteeism, employee turnover, low morale, and low productivity. Of the 90% of Fortune 500Show MoreRelatedEssay on Walgreens Diversity Issues1644 Words   |  7 PagesWalgreens diversity issues: A weakness that was gained subsequent to the information gathered from research and surveys is that as a company it is true that diversity is practiced but may differ at stores; stores tend to lack a wide range of diversity. One may ask how that is possible. 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The United States Office Of Personnel Management Cyber

The United States Office of Personnel Management Cyber Security Breach OPM logo Largest Data Breach of United States Government Personnel Data In June 2015, the United States Office of Personnel Management (OPM) announced that it was the target of a data breach of over four million people’s personally identifiable information. Later, FBI Director James Comey put the number at 18 million. On July 9, 2015, the estimate of the number of stolen records had increased to 21.5 million. Federal officials described it as one of the largest breaches of government data in the history of the United States. The data breach started in March 2014 or earlier. It was finally noticed by the OPM in April 2015. Cause U.S. Department of†¦show more content†¦Because of these changes, in April 2015, an intrusion that occurred before the updates was detected. With the assistance of the Department of Homeland Security and the Federal Bureau of Investigation, an investigation was initiated and revealed 4 million personnel records were breached. Also during the investigation, it was revealed in June 2015 that there was a breach of 21.5 million records related to background investigations of current, former, and prospective Federal government employees, and for those that had previously had a background investigation conducted. Investigations Bureau Investigation The OPM breach timeline shows that it was one sustained assault instead of two separate intrusions stealing investigation data and personal records.Show MoreRelatedA Documentary By Admiral Vern Essay1308 Words   |  6 Pagesregions of the world sparks controversies resulting in state funded cyber attacks, cyber espionage and terrorism against the United States and its allied nations. 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Matrice Swot of Coca Cola Free Essays

Internal| * Strenghts1/ partner with big companies (Mac Donalds)2/ Excellent strategy3/ Diversified production lines4/ Unique taste5/ World’s leading brand | * Weaknesses1/ Product not healthy2/ The target group of the CC company are mainly younger people. / Taste differentiation4/ Sluggish performance in North America5/ lack of popularity of many Coca Cola’s brands| External| * Opportunities1/ advertise it’s less popular products2/ Acquisitions3/ buy out competition4/ It can to provide food in the future5/Growing Hispanic| * Threats1/ New drink competitor have appeared gradually2/ Intense competition (ex: Pepsi)3/ legal issues4/Dependence on bottling partners5/ The economy nowadays is depressing actually, and the poor economy may affect the consumers to purchase good| Strenghts| Weaknesses| Oppor-tunities| S5/O5. Knowing that Coca-Cola is a brand leader in his market; it will be easy to continue to have a growing market in South America. We will write a custom essay sample on Matrice Swot of Coca Cola or any similar topic only for you Order Now S1, S2, S3, S4, S5/O2, O3, O4. It may also invest in the creation of food and continue to buy the competition and gain new market. All of this because coca-cola has a unique taste, it is followed by contacts (like MacDonald), his strategy is great and it has a diversified production lines. | W1/O3. Like everybody knows, Coke is not really good for your health. However everyone knows that Coca-cola was originally sold in pharmacies for stomach ache. Maybe that Coca-Cola could buy the competition, which is not tarnished by this reputation. W2/O4, O5. Even if they are young people who are targeted by coca cola, by exploiting new markets and new products, coca-cola can expand his target, as if they provide food. W4/O5. I think that these tests have to be performed in a country growing for coca-cola (ex: Hispanic) before embarking on a stagnant market (North America)| Threats| T1, T2/S5, S3 . Although recently many competitors appear. Coca cola is the worldwide leader and can buy them, crash them, or ignore them. This is not the case of Pepsi who is already too big, and then why not plays on the diversification of the products of coca-cola (many different products) which is not the case of Pepsi. T3, T4/S2. As regards the jurisdiction, they could still and always try to improve them strategy, which is already excellent, it is the same thing for such bottling partners. T5/S2. As for the world economy, it is less important, being the world leader and with an excellent strategy, I can continue to win customers. | T1, T2/W5. To bring down the new competitors on the market, coca cola have to show all the drinks he offers, as many are ignored and coca-cola has the budget for put these drinks forward. This will permit at coca-cola to be apart from other major competitors such as Pepsi etc †¦ T3/W3. Legal problems are present, knowing that coca is not developed in regard to health. For this strategy (already good) coca must to be improved, and do not forget that a wide range of product is already present in coca-cola by passing of coca zero until coca light. T4/S5. In terms of bottling partners, this must be a part of the strategy of coca-cola who is world leader and who has the capabilities to invest in bottling, the question is: it is worth the trouble it? T5/W5. About the economic crisis, I think Coca-cola is a global leader, so he has just to try to conquer new markets such as South America and to develop his others annexes brands who miss of popularity| How to cite Matrice Swot of Coca Cola, Essay examples

Monarchial constitution free essay sample

Under the monarchial constitution of the United Kingdom (UK), the majority of prerogative powers are now exercised by the government in the name of the Crown. There are two principle definitions of Royal Prerogative (RP); that of Sir William Blackstone and that of Professor A. V. Dicey. According to Dicey, RP is defined as the residue of arbitrary or discretionary authority, which at any given time is legally left in the hands of the Crown. RP has several defining characteristics RP is inherent to the Crown, derived from common law, exercised by the government on behalf of the crown, the powers are residual and RP legitimises government actions without the need for an Act of Parliament (AOP). Before the 17th century, the monarch had all three powers, the legislative, executive and judicial powers. The judiciary started gaining independence since the Case of Prohibitions 1607 and was fully independent after the Act of Settlement 1700, which effectively removed the power of the monarch to remove a judge at will. We will write a custom essay sample on Monarchial constitution or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The independence of the legislature started with the Case of Proclamation 1611 and culminated in the Bill of Rights 1689, which curbed future arbitrary behaviour of the monarch and guaranteed Parliament’s power vis a vis the Crown. With these changes made to the UK constitution and as support grew for a democratic government, RP seemed out of place in the hands of the monarch and was slowly transferred into the hands of the government to be used in the name of the Crown. It is possible for RP to be codified i.e incorporated into an AOP, as can be seen from the Constitutional Reform and Governance Act 2010 (CRGA). The CRGA codified several RPs, such as the RP to ratify treaties. The codification of RP meant that it would be under Parliamentary control and not the Executive. In the UK today, the UK government makes certain decisions based on the RP if they are not covered under any statutes. However, there have been several cases regarding the use of RP brought to the courts, spearheaded by Darnels case as well as the Case of Ship Money. The fact that these cases could be judged by the courts showed that the government (on behalf of the monarch) could exercise the prerogative power granted by the courts. Therefore, the courts have the power to determine whether that prerogative power exists and the extent of the power exercised by the government. Codifying the RP ensures that courts would not have the power to determine its existence, as they are unable to determine the validity of an AOP, as directed by Lord Reid in Pickin v British Railways Board. It would also prevent conflicts with statutes, as well as promote greater certainty and accessibility in the law. However, codifying the RP would make it more rigid, which may affect the reflexes of the government in responding to situations which are time-sensitive. Nevertheless, the current practice of the UK government with regards to such RP would be to consult Parliament first. Thus, it would be desirable to codify the RP. The RP has always been a part of common law in the UK Constitution. In the Case of Proclamation 1611, then King James I declared two royal proclamations without the consent of Parliament. When the case was brought before the court, Lord Coke held that ‘the King hath no prerogative, but that which the law of the land allows him’, meaning that the King could only exercise the prerogative power granted by the courts. Following the judgment, there were several cases which involved the use of the RP which the courts upheld. In Darnels case, the Defendant was imprisoned due to a warrant issued from the King in which there was no reason for the imprisonment. The court held that the arrest was valid as this was the exercise of the monarch’s prerogative power to arrest. The Case of Ship Money also exemplified how the court could decide if use of RP was legitimate. Hampden had refused to pay taxes to the King, upon his RP to raise revenue in an emergency situation. The court subsequently upheld the power of the Crown. Lastly, the judgment in Lord Advocate v University of Aberdeen upheld the RP that things lost, abandoned or ownerless belongs to the Crown. However, the courts have also held several decisions which restricted the RP. In BBC v Johns, BBC claimed there was a prerogative to grant immunity to them so as to avoid paying taxes. This case was famous for the dictum of Lord Diplock who stated that it is â€Å"350 years and a civil war too late for the Queen’s courts to broaden the prerogative†. Some feel that the exercise of prerogative powers was outside judicial review. Lord Devlin (in Chandler v DPP) agreed, but in his obiter statement stated that the courts will not review the proper exercise of discretionary power but they will intervene to correct excess or abuse. Despite this, not all prerogative powers are subjected to judicial review, the reviewability is dependent on its subject matter and not the source of power. In the GCHQ case, Lord Roskill mentioned that â€Å"Prerogative powers such as those relating to the making of treaties, the defence of the realm, the prerogative of mercy†¦ are not, I think, subjected to judicial review because of their nature and subject matter is such as not to be amendable to the judicial process†. Thus, with RPs, courts would have the ability to judge whether they are implemented legitimately or not, dependent on the scope of the prerogative in question, but in the case regarding AOP, courts would not be able to question its validity, as stated by Lord Reid in Pickin (as above). This would be desirable as it would smoothen the relations between the Judiciary and Executive, with fewer conflicts between them. There are also situations whereby RP will be in conflict with statutes. As such, the Crown would not be able to exercise the prerogative power due to the doctrine of Parliamentary Sovereignty. In AG v De Keysers Royal Hotel, the Crown used the Royal Hotel during the First World War and the hotel later claimed for compensation under Defence Act 1842. Although the Crown argued that no compensation should be paid since there was an RP to acquire any land of the subject during wartime, the court held that when the statutory power and prerogative power co-existed, statutory power would override that of prerogative. Similarly, in R v Secretary of State for the Home Department, ex parte Fire Brigades Union, the Criminal Injuries Compensation Scheme set up under Ministerial Prerogative powers was used instead of the Criminal Justice Act 1988, so as to save money by awarding less compensation. The court held that if there is a statutory scheme, it cannot be replaced by the RP. To prevent these scenarios from happening, Parliament has taken steps in recent years to incorporate some RP into statutes. For example, the Treasure Act 1996 states that the prerogative right of treasure trove has been abolished and replaced by this Act. The Human Rights Act 1998 protects citizens against arbitrary use of prerogatives, and the Fixed-Term Parliament Act 2011 has incorporated the RP of dissolution of Parliament. Hence with these recent developments, RP will be in less conflict with AOPs and more consistent with them, enabling them to be more certain and accessible to the public. There are naysayers of codifying the RP that argue that such an act would increase the rigidity of the process to achieve the intended result. Indeed, this is true as can be seen in the prerogative to declare war on other countries. For such a result, the government would need the operational flexibility and speed of deployment that the RP provides. By incorporating it into a statute, not only will the efficiency of the government be reduced, excess publicity that the AOP will bring would undermine the success of the operation. In addition, there will be situations where the government cannot await Parliamentary approval due to time constraints. Be that as it may, in practice, the government in modern times have looked for Parliament’s approval regarding the issue of war. In 2006, then Prime Minister Tony Blair, following his own vote over Iraq in 2003, acknowledged that he could not conceive of a situation in which a government is going to go to war except in the circumstances where immediate action is required without a full Parliamentary debate. The Iraq war vote was a significant precedent that Parliament should give its approval regarding such matters. Following which, Prime Minister David Cameron in 2011 held a Parliamentary debate on whether UK should establish a no-fly zone in Libya after the outbreak of military action. Lastly, in September 2013, a Parliamentary debate was called to discuss the possible military intervention in Syria after chemical weapons were allegedly used on civilians. By calling a vote, the government was ensuring continuing adherence to the practice that Parliament should have a say in such issues. Hence, even if codifying the RP does increase rigidity, the process of ensuring Parliament’s approval is already established. Some might feel that codifying the RP would be sacrificing UK history as they would be forgoing part of their culture which makes their unwritten constitution unique in today’s world (inclusive of New Zealand and Israel). Nevertheless, the RP is considered by many to be an outdated power and is such an important one that it should not bypass democratic representation.

The Parable Of The Doorkeeper Essay Example For Students

The Parable Of The Doorkeeper Essay The Parable is simple and straightforward. It foreshadows the death of K. Although that is not all it does. The character of the doorkeeper is the interesting one. He is made up of all the characters that K has interacted with, thatt have to do with his case. The doorkeeper is a blend of the warders, the Inspector, the washer-woman, the distrist judge, the lawyer and the two men who kill him. The story is an easy giveaway. It tells K what has happened in the past, and what will happen to him next. The story and its content itself are not really that important, one knows how the plot of the novel will turn out, almost from the outset. The importance lies in the discussion K has with the priest. The story was a simple, and poetic, way to summarize the entire novel. The main part of the story worth viewing and discussing are the multiple character of the doorkeeper. The first character of the doorkeeper that one sees is the warders. When the man goes to the place of law, he encounters the doorkeeper. The doorkeeper does not allow him to go inside. This reminds one of how K was treated, by the warders, when he tried to discover his charge. The act of refusing entry into the house of law, can be considered to the incarceration that K was put under. Although, it appeared that the greater part in impeding entry into the house of law, can be compared to the judges. We will write a custom essay on The Parable Of The Doorkeeper specifically for you for only $16.38 $13.9/page Order now When the doorkeeper says that maybe K will be allowed entry later, it reminds one of the Inspector. He attempts to act as Ks friend, and gives him no solace, by saying that he knows nothing. The Inspector says, that he knows nothing about the mans charge, and is probably the only one whos on his side. The doorkeeper never says this to the man, but the man finds the doorkeeper his only friend. The attitude that the doorkeeper displays that he might seem small, but the guys after him get bigger and worse, reminds one of how the washer woman talks about the judge. The way she says that this judge is rather nice, and how its not worth taking them all on is just how the doorkeeper talks about the doorkeepers that succeed him. The little interludes that the doorkeeper does converse with him, reminds one of the special attitude presented by the lawyer towards K. Even though the conversations were brief, they showed that the doorkeeper wasnt made of stone, and there was some emotion behind the system. that is pretty much what the lawyer is there for. he doesnt really does any good work for K, but he tries to make him feel better. When the doorkeeper shuts the door, he obviously reminds one of the two killers. The way that the doorkeeper moves over toward the dying man and tells him that he will now shut the door that was meant for him. Just like the two men, they come over, dont talk too much, and eventually kill him. The man who comes to seek justice, reminds one more of Block. He is too meek, and submissive. He doesnt match Ks strong, arrogant, brash, behavior.

Free Essays on Alcohol

Alcohol has long had its mark on the world. It is noted as one of the oldest drugs to man and has long created problems in the way of morality and health. With the negative effects of alcohol on society, the application of its uses should be a concern to all. With the progression of education and technology, one would think that problems become easier to handle and that dilemmas become more manageable through time. As for the scenario of underage drinking, even the best technology and information are useless if the direction of their goals is in the wrong way. As a means to deal with alcohol and adolescents the current movement has been made on the education of facts and the prevention of consumption. The methods that are being used are aimed at the goal of abstinence to alcohol by adolescents. Alcohol use, however, has remained high in adolescent groups. In addition, there are a growing number of health problems related to the misuse of alcohol in adolescents. With our knowl edge about these issues we have the criteria to make an impact. It is my theory, that instead of focusing on the education of facts and the abstinence of alcohol, behavioral modifications can be used to exemplify safe and accepting ways of consuming spirits. This will negate the curiosity and desire for the drug as well as establish some sort of boundaries for this confused group of citizens. The decisions that are being made in the current prevention movement of alcohol use in adolescents, is not satisfying its goals. The current methods that are being practiced are ignorant to the fact that use of alcohol in adolescents is far from any level of abstinence. Since 1975, 93% of high school seniors stated usage at some point in time (Kuehnel). This is a drug that is extremely obtainable and very socially excepted. Each weekend it is estimated that 30-40% of the youth in America use alcohol (Kuenel). The aura surrounding the drug generates its desire. ... Free Essays on Alcohol Free Essays on Alcohol Alcohol can and does kill millions of people each year. It can effect your brain and make you shake, lose all your senses, and kill off your brain cells. It also can cause your liver to deteriorate and not function properly. Liver transplants are hard to come by and do not happen often, if your liver goes out you do not have many chances of living much longer. You could also choke on your puke and die. Drinking too much alcohol can kill you, but millions of people consume mass amounts daily. College students drink and party a great amount. The average student drinks at least three nights a week and that is the weekend. Most sororities and fraternities encourage drinking. The fraternities make their pledges drink and the kids love it. It makes them loosen up and have a good time meeting new people. Drinking is also a good way for students who do not know anybody to meet new people and feel more comfortable when they go into an unfamiliar place with a lot of strangers around. When someone is drunk they feel more comfortable and able to talk to random people they do not know and have a good time. Once someone becomes familiar with certain people or just being drunk around strangers, it becomes a habit and that is when school work starts to not be important anymore. Students who drink start to stop attending classes because they are hung-over, tired because they did not go to bed, or just do not feel like going because they would like to start drinking again. The! re are tho se who can drink every night of the week and still go to class, do their homework, and keep their grades up. Those who can do that are very rare and end up eventually stop being able to do it anymore and fail out of school. It is not very hard for someone to pick up a beer and drink it instead of picking up a book to read. After sometime of constantly drinking, I have seen and do see kids drinking while they do their homework or study for a test. I do not know how thos... Free Essays on Alcohol Alcohol has long had its mark on the world. It is noted as one of the oldest drugs to man and has long created problems in the way of morality and health. With the negative effects of alcohol on society, the application of its uses should be a concern to all. With the progression of education and technology, one would think that problems become easier to handle and that dilemmas become more manageable through time. As for the scenario of underage drinking, even the best technology and information are useless if the direction of their goals is in the wrong way. As a means to deal with alcohol and adolescents the current movement has been made on the education of facts and the prevention of consumption. The methods that are being used are aimed at the goal of abstinence to alcohol by adolescents. Alcohol use, however, has remained high in adolescent groups. In addition, there are a growing number of health problems related to the misuse of alcohol in adolescents. With our knowl edge about these issues we have the criteria to make an impact. It is my theory, that instead of focusing on the education of facts and the abstinence of alcohol, behavioral modifications can be used to exemplify safe and accepting ways of consuming spirits. This will negate the curiosity and desire for the drug as well as establish some sort of boundaries for this confused group of citizens. The decisions that are being made in the current prevention movement of alcohol use in adolescents, is not satisfying its goals. The current methods that are being practiced are ignorant to the fact that use of alcohol in adolescents is far from any level of abstinence. Since 1975, 93% of high school seniors stated usage at some point in time (Kuehnel). This is a drug that is extremely obtainable and very socially excepted. Each weekend it is estimated that 30-40% of the youth in America use alcohol (Kuenel). The aura surrounding the drug generates its desire. ... Free Essays on Alcohol Alcoholism Alcoholism is a disease of epidemic proportions, affecting 9.3 to 10 million Americans, and many professionals believe the figures are closer to 20 million (Weddle and Wishon). Alcoholism is a "physiological or physiological dependence on alcohol characterized by the alcoholic’s inability to control the start or termination of his drinking"(Encyclopedia Britannica 210). It consists of frequent and recurring consumption of alcohol to an extent that causes continued harm to the drinker and leads to medical and social problems. Alcoholism, however, does not merely cause harm to the alcoholic, but to the entire family as well, affecting an estimated 28 million children in this country (Weddle and Wishon). These children grow up in the unhealthy and abnormal family systems harmed by alcoholism, carrying the negative effects of this environment with them into adulthood. Consequently, adult children of alcoholics are the innocent victims of a disease which has shaped their personalities and behavior as children and will, if not treated, promote their personal disintegration as adults. Most alcoholics don’t fit the stereotype of the lying in the gutter drunk. Alcoholics are likely to be persons of intense, if sometimes brief, enthusiasms. They often try to do too much too fast. They tend to demand perfection in themselves and in others. Frustrated, they may become painfully depressed or overly aggressive. There is a lack of inner stability with which to face life’s problems in a realistic manner (AL-Anon). As the disease of alcoholism sets in, the family is forced to make an unspoken decision- to leave the alcoholic or to stay and adapt to his illness. Because they do not want to disrupt their own lives or leave a love one, they deny the problem and try to adapt to the pressures and problems that alcoholism brings. Typically, as alcoholism takes over, the alcoholic becomes incre... Free Essays on Alcohol Alcohol Millions of people consume alcohol everyday. The chemical formula for alcohol is. Alcohol is the most commonly used drug in the United States. It is a depressant, and causes relaxation, pleasure, and stimulation for those who consume the beverage. Alcohol is an addictive substance; however, not everybody becomes addicted. Alcoholics are compulsive drinkers, who can not keep their drinking under control. Frequently alcoholics intend to have only one or two drinks but find it impossible to stop. They end up consuming eight or more drinks at one sitting. Many people drink alcohol, but only a small amount develop drinking problems (World Book, 2000). The exact cause of alcoholism as puzzled many researchers. Alcoholism can be explained as a(Alcohol and Tobacco, p33) chronic disease with genetic, psychosocial, and environmental factors influencing its development and manisfestations. Alcoholism was recognized as a disease two hundred years ago. Scientists, physicians, and social workers believe that alcoholism is the result of a complex mix of sociological, psychological, and behavioral factors that interact with a person’s genetic makeup, resulting in a complex mix (Alcohol and Tobacco, p. 36). Research shows that heredity plays an important role in alcoholism. Alcoholism is thought to be linked to various genes. Researchers believe that certain families may have a unique mix of genes that make family members more susceptible to alcoholism than others. Studies have proved that people with an alcoholic parent have a g reater risk of developing the disease, than people without alcoholic parents. Alcoholism and the Family states Twenty-eight million Americans grew up in families where one or both parents have alcoholism (p 11). In the 1950s, a twin study was conducted in Sweden. (Alcohol and Tobacco) Researchers first identified male twins, at least one of whom had a problem with alcohol. When they stud...

Free Trade as the Primary Force Driving Economic Development Essay

Free Trade as the Primary Force Driving Economic Development - Essay Example The theoretical literature available assumes certain conditions such as perfect employment which is not seen commonly in the real world. As a result, many of the theoretical assumptions come into conflict with empirical evidence. The theory may suggest that the reduction of barriers to trade can promote the welfare and economic progress, but evidence proves it otherwise. This paper presents the argument on the effects of free trade on the global economy and progress. The paper discusses the topic with supporting evidence from theories and empirical evidence. The tentative line of argumentation From a theoretical point of view: The characteristic rationale for the free trade originated in the 19th century when David Ricardo proposed the theory of comparative advantage. The theory of comparative advantage assumes that when a country exploits its factors of endowments and specializes in the production of certain goods, it can gain benefits from trading these goods. After Ricardo, a numb er of theorists built upon the theory and hence the Pure Theory of Trade came into limelight. Comparative advantage promoted that when countries are able to specialize, they can acquire a lower opportunity cost in the production of goods. The late 19th century saw the British increasing trade across the borders during the Great Famine in Ireland. It was then that the effects of free trade manifested itself with increasing income disparity. The uneven and disproportionate income distribution caused one million Irish to die of hunger and disease. Even Adam Smith, who is considered to be the father of free-market economics, contended that trade restrictions are incumbent in certain sectors like defense and navigation. The theory of comparative advantage does not provide the welfare benefits that it promises, particularly to developing countries. The theory necessitates perfect employment and if it is not present, as is the case usually, the country is worse off from trade liberalizatio n due to a large number of workers who are displaced (Costantini 1999). From an empirical point of view: One way of analyzing the effects of free trade on progress and economic development is through the North American Free Trade Agreement. The Agreement created a watershed in the global trade policy, primarily because of the widespread level of free trade that it created (Kose, Meredith, Towe & International Monetary Fund 2004). The postulations of the Agreement have been a contentious subject. The proponents of NAFTA contend that it has caused the Canada, Mexico and the US to increase employment, whereas the opponents argued that it would cause a loss of jobs in the US with workers moving towards Canada and Mexico. In one of the popular negotiation rounds of the Agreement, the Presidential Candidate H Ross Perot claimed that the reduction of trade barriers would cause the colossal sucking of jobs in the US to Mexico. Over the past 15 years, economists have developed contradicting opinions regarding the profitability of NAFTA to the signatories. Many economists contend that NAFTA has had a meager influence on the US economy (Brezina 2011). However, the opponents of NAFTA argue that the economy of the country is at the receiving end of the trade policies; this relationship has not proved to be beneficial. The NAFTA has created a disproportionate economic balance, with the investors gaining more from the Agreement as compared to advantages the workers and environment  derived.

Job Order Costing Essay Example | Topics and Well Written Essays - 2250 words

Job Order Costing - Essay Example In job order costing, the key is that the work is done to the customers specifications. As a result, each job tends to be different in nature. Even if the job may seem to be exactly the same at first, often a customer will want a worker to do something different than what was originally thought to be done. For example, â€Å"job order costing is used for construction projects, government contracts, shipbuilding, automobile repair, job printing, textbooks, toys, wood furniture, office machines, caskets, machine tools, and luggage. Accumulating the cost of professional services (e.g., lawyers, doctors and CPAs), also fall into this category† (MAAW, â€Å"What Is a Cost Accounting System?†). Job Order Costing is used by companies where products or services are identifiable by individual units or batches—auto repair, tax return preparation, case in an attorney’s office, ship construction, etc. The costs attributable to a particular job are assigned directly to it. When a job produces a specific quantity for inventory, job order costing permits the computation of a unit cost for inventory costing purposes. When jobs are performed on the basis of customer specifications, job order costing permits the computation of a profit or loss on each order. Since costs are revealed as an order goes through production, these costs may be compared with estimates which were made when an order was taken. Job order costing thereby provides opportunities for controlling costs. It allows the person to help try to keep costs as stable as they can, yet still find a way to make a profit. This ability helps keep both the worker and customer happy, and helps promote a better relationship between the contractor or professional and the person who is paying for the work. This can also help keep costs low, because the customer does not need to pay for services they do not need, even if the professional is capable of doing them. This way, the

Ileal-lymphoid-nodular hyperplasia, non-specific colitis, and Assignment

Ileal-lymphoid-nodular hyperplasia, non-specific colitis, and pervasive developmental disorder in children - Assignment Example Conducted to an average mean age of six, the children underwent gastrointestinal, developmental tests and neurological testing. The results show that all the children had gastrointestinal disease and poor development. The poor development is associated with the change of environment from their homes to the pediatric facility (A J Walkfield, 1998). The method of testing includes the clinical investigation, laboratory investigation and histology. Developmental testing is conducted with the help of the parents. Ileocolonoscopy is then conducted after bowel preparation. Biopsy samples of the mucosa are then taken for testing from the terminal ileum. Urine is also tested to measure the amount of urinary methylmalonic acid. Magnetic imaging resonance is conducted to check the cerebral response. Stem auditory and sensory together with lumbar puncture is also done. None of the 12 children showed neurological abnormalities according to the clinical tests. Child number eight-showed slow development because of an earlier operation on her aorta. Eight of the children showed poor development due to infection of measles, mumps or rubella vaccination. All the children tested negative for antiendomyseal test. Eight children were reported to have mucosal and rectal abnormalities. Terminal lymphoid hyperplasia was also reported in nine children. Parasites and organisms were not present in the intestines of the 12 children. The goblet cells were not also depleted. The developmental regression results from of loss of coordination in the bladder or bowel function. The increased permeability into the intestinal walls is as a result of deficiency of the phenyl-sulphur transferase enzyme. Strains of measles vaccine have been traced to children suffering from autoimmune hepatitis hence playing a major role in the developmental regression. Vitamin B12 was deficient in the children since there was an increase in the methylmalonic acid concentrations. Vitamin B12

Causes and Treatments of Dengue fever

Causes and Treatments of Dengue fever Abstract Dengue fever is caused by positive-stranded RNA virus of the family Flaviviridae; genus  Flavivirus. Dengue virus is transmitted to humans by a mosquito vector Aedes aegypti belonging to genus Aedes of family Culicideae. 50 -100 million peoples are affected by dengue virus . Indian scientists have develop a vaccine for the prevention of the dengue fever. Dengue Virus Genome Contain 10 Viral Protein C,prM,E,NS1.NS2A,NS2B,NS3,NS4A,NS4B,NS5. vector population suppression ,replacement are genetic approaches for control of dengue. In the population suppression vector number is reduced to minimize disease transmission and population replacement of wild-type vector was replaced with genetically modified vector incapable of transmitting the disease. Sterile Insect Technique (SIT) is a particular type and environmentally benign way to suppress the insect population, it is based on collective farming, and radiation-mediated sterilization, and large number of male insects are release. The rel ease of insects carrying a dominant lethal (RIDL) offers a resolution to many of the weaknesses of traditional SIT which has narrow its application in mosquitoes while sustaining the efficacy ecologically friendly and specific types. RNA interference is a mechanism of gene control sequence after transcriptional selectively. RNA viruses Interference (RNAi) pathway is one of the most critical components of the innate immune system of insects that can frustrate a variety of RNA virus such as flavivirus. From all the genetic based method RIDL techniques is most advance. Introduction: Dengue fever is a viral disease transmitted by the rapid development of Aedes aegypti. (McCall and Kittayapong 2006) originally innate to West Africa and spread in the whole world (Antonelli, Clayton et al.) 50 -100 million peoples are affected by dengue virus (Wilke and Marrelli 2012). Dengue virus belongs to the Flaviviridae family. Dengue virus has four major serotypes but antigenically distinct single stranded RNA viruses . The four serotypes of dengue viruses cause disease. The severe form of the disease, dengue hemorrhagic fever (DHF) and dengue shock syndrome (DHF / DSS), can lead to internal bleeding and even death. (Malavige, Fernando et al. 2004; Olson, Alphey et al. 2006) There is no specific therapeutic drug available for dengue fever. Indian scientists have develop a vaccine for the prevention of the dengue fever animal trials of this vaccine have yielded good results but it is not yet commercialize. By Using yeast pastoris Pichia they have created a non-infectious dengue fever virus like particles made of only large DENV protein envelope to active virus-specific immunity. (Thisyakorn 2013). Dengue virus is 50-nm containing lipid membrane.180 identical copies of envelop protein is present at the surface of viral membrane short transmembrane segment. The virus genome is of about 11000 bases that translates into a single large polyprotein that is cleaved into 3 structural and 7 non-structural genes and short non-coding regions is also present on both the 5 and 3 ends The structural proteins are the capsid (C) protein, the envelope (E) glycoprotein and the membrane (M) protein. (Alcaraz-Estrada, Yocupicio-Monroy et al. 2010) (Nukui, Tajima et al. 2006) The increase of vectors in world is reason of emergence of diseases in new areas. therefore, there is need to control mosquito. Bed nets, space spraying are largely ineffective against this day biting mosquito. Therefore, there is a need to develop useful strategy to overcome dengue fever. Dengue control can be reduced or elimination of the vector population. The population vector can be reduced or eliminated based on genetic methods. There are two strategic objectives to control dengue by genetically modified mosquitoes.(McCall and Kittayapong 2006; Olson, Alphey et al. 2006) vector population suppression population replacement. In the population suppression vector number is reduced to minimize disease transmission and population replacement of wild-type vector was replaced with genetically modified vector incapable of transmitting the disease.(Antonelli, Clayton et al.) suppression techniques and replacement of population are not mutually exclusive and can be implemented in conjunction with other approaches. (Olson, Alphey et al. 2006; Organization 2009) For suppression of the vector population SIT (sterile insect technique) SIT is a specific control environment of the species method in which large numbers of sterile males are release these mate with wild female reduces the reproductive capacity of mosquito. (Coleman and Alphey 2004; Helinski, El-Sayed et al. 2006) SIT mosquito control approaches have been tense and still planned .Reduction mating competitiveness, and sterile female does not reduce the population ,fertility of irradiated males residual is the limitation of the approaches to mosquito control SIT. In SIT male mosquitoes are about liberation are not taking blood meals, and lethality performance so early larval death is density dependent reduction occur. (Yakob, Alphey et al. 2008; de Valdez, Nimmo et al. 2011; Lacroix, McKemey et al. 2012) RIDL (Release of Insects carrying a Dominant Lethal) strategy to reduce these limitations by recombinant DNA technology. In RIDL male n female mosquitoes are genetically modified approaches. (Coleman and Alphey 2004; Atkinson, Su et al. 2007; Phuc, Andreasen et al. 2007) OX513A RIDL bisex is a strain. The males are released to mate with wild females. The offspring of these mating die due to late larvae or pupae. Thus the target population can be reduced. (Wallace 2013) In female transgenic mosquitoes OX3604C that genes are present to conduct flightless female-tetracycline-repressible phenotype. flightless females can not mate with a male. (de Valdez, Nimmo et al. 2011; McGraw and ONeill 2013) And for substituting additional vector population or foreign genes are inserted to prevent the transmission vector of the disease. Foreign gene can be a gene Antipathogen, or a combination of transgenic approaches that will reduce or eliminate the transmission of disease from vectors to human.(Basu and Bhattacharya 2014) Genetic approaches leading to vector population suppression: GMV-based development of Sterile-Insect Technique (SIT): The sterile insect technique (SIT) is a specific method of species and environmentally benign control the insect population that relies on mass rearing and release of sterile insects.(Wilke and Marrelli 2012) These released insects compete for mates with wild females. Wild female pairing to a sterile male has no or fewer children, so that the population tends to decrease. If enough sterile insects are released for a sufficient period, the target population is controlled or even eradicated locally(Wallace 2013). SIT has been used successfully for over 50 years to control the entire area and / or elimination of several important agricultural pests and disease vectors, including the Mediterranean fruit fly, screwworm. (Coleman and Alphey 2004)Although conducted a series of tests in the 1970s, with some success, there is today no SIT programs on large-scale operation against mosquito species. (Yakob, Alphey et al. 2008; Lacroix, McKemey et al. 2012; Mwasunda October, 2012) Ae. aegypti is a, mosquito species fit for mass rearing. This species also appears to be reasonably uniform over large areas, without the problems of sub-species and barriers to mating. SIT has many advantages as compare to traditional strategies: it is species specific and to stay away from The harmful effects of pesticides on non-target species. The mating behavior of male insects is highly efficient as a substitute of relying on Human rights activists. wild insects Density are condensed that’s why it works better (Coleman and Alphey 2004) LIMITATION of SIT: The main problem of SIT is the loss of competitiveness mating for the wild type due to sterilization of insects by irradiation. For mosquitoes, releasing only male is considered essential, since the sterile females bite and can thus transmit the disease, while male mosquitoes do not bite. So SIT including large-scale, gender-based separation . pupal size can constantly give people male-only population for release. A key difficulty for mosquito SIT is sterilization. Irradiation of pupae appear to harm insects; irradiation as adults is less harmful but operationally much harder. Some trials used sterilizing chemicals such as thiotepa, which was effective for sterilization, but led to trace contamination with this mutagenic chemical. Another problem for mosquito SIT relates to the biology of the mosquito population. Unlike agricultural pests against which the main SIT programs are directed at present, mosquito populations can be regulated primarily by density-dependent effects, in which a very fruitful population is maintained at a level stable for limited resource constraints, others problems of SIT is fitness costs and operational difficulty of irradiation.(Coleman and Alphey 2004; Olson, Alphey et al. 2006; Wilke and Marrelli 2012) Release of Insects Carrying a Dominant Lethal Gene: Insects are designed to carry a dominant lethal genetic system can be used to replace the need for radiation sterilization in a similar SIT program. In this RIDL is replaced engineered lethal dominant. At the same time RIDL and SIT, and some or all of the descendants of people die as a result of the release of inheriting one or more dominant lethal mutations, so that the population tends to decline. (Atkinson, Su et al. 2007; Yakob, Alphey et al. 2008; Massonnet-Bruneel, Corre-Catelin et al. 2013) Mechanism: Male mosquitoes have developed genetically modified to contain lethal gene, in order to combat the spread of dengue fever. LA513 is piggyBac transposon-based non-independent from 8.4 kilobytes. Insert LA513 transposon within aeydes mosquitoes by genetic engineering techniques to produce toxins in the larvae of mosquitoes stage under normal condition, and thus cause the death of the larva. Transposon LA513 mainly containing DsRed2 gene that is to engage in the modified identify genetically by red fluorescence due to the expression of that gene. and tTAV gene (tetracycline -repressible transcriptional activator) tTAV gene is under the control of its binding site, titO, and minimal promoter of Drosophila HSP70, and 3 UTR sequence of the fruit fly FS (1) K10. tTAV bind with its binding site titOs and gives a very high level of expression of tTAV which is toxic under normal conditions. In The presence of tetracycline tTAV connect with them. This model does not bind tTAV with titO and do not even lead to the expression of more tTAV therefore this construction gives a very high level expression of tTAV in the absence of tetracycline, but gives low expression in the presence of tetracycline. The high level expression of tTAV may be due to the interaction with the VP16 domain transcription factor that provides a key to the building of this deadly system. (Massonnet-Bruneel, Corre-Catelin et al. 2013) When genetically modified mosquitoes are released in the wild and mate with wild female offspring to inherit this trait lethality. The resulting offspring die before reaching the age of majority and the local mosquito swarms fall.(McGraw and ONeill 2013) Oxitec is a British company is working to find innovative solutions to control insects using biotechnology and genetics in advance (called RIDL) placed Egyptian genetically modified Aedes this product and is named as a OX513A bisex RIDL strain. (Massonnet-Bruneel, Corre-Catelin et al. 2013) Aeydes mosquito, one of the most important carrier of the dengue fever,and decreased by 80% in the 2010 trial of these genetically modified mosquitoes in the Cayman Islands. Using genetically modified male aegypti we can reduce or eliminate the population of mosquitoes that specie, and thus we can control the transmission of dengue virus to humans, which causes dengue fever. Population replacement techniques: Population replacement techniques involve the insertion of additional or foreign genes to prevent the mosquitoes from transmitting the disease. The techniques may include inserting an antipathogen gene, an immune system upregulator, or a combination of transgenic approaches that will ultimately result in the reduction or elimination of disease transmission from mosquito to human. To assess whether a mosquito has reduced disease transmission capability, the virus titer in the experimental transgenic mosquitoes midgut and salivary glands can be measured and compared to a wildtype control. At least three genetic-transformation systems have been described and used successfully in Ae. aegypti to generate GMVs. These transformation systems are based on the Class II TEs Mos1 (Mariner), Hermes and piggyBac . Mos1 and piggyBac are the most commonly used TEs mos1 for generating GMVs. Evidence of rnai mechanism in mosquitoes: List the RNAs strategy Interference with the recurrence of dengue virus can operate Effective in mosquitoes and mosquito cells. The first evidence is recombinant Sindbis viruses having DENV-2-prM sequence was transformed in to in adult female mosquitoes. Sindbis viruses is single-stranded RNA virus. During replication it is convert in to double stranded RNA and intermediary expressing DENV-2 prM that is activate the RNAi mechanism . Combination of DENV-2 and the recombinant SINV having DENV-2-prM sequence slabs DENV replication in mosquitoes. in mosquito cell culture Expression of a dsRNA hairpin structure is a strong Catalyst of the RNAi mechnism. 567 nucleotide of the prM sequence from DENV-2 in a sense orientation and first 290 nt repeated in antisense orientation is made hairpin structure .cloned this into plasmid after transcription DENV-2 specific dsRNA is formed that stop the DENV-2 replication. transfection of C6/36 (Aedes albopictus) with dsRNA of arbovirus genome.these are the evidence which shows that Aedes species have RNAi mechanism resemble to other organisms. RNAi Mechnism : In RNAi mechanism dsRNA is integrate in The cytoplasm of the cell. RNase III enzyme Dicer is responsible to digest dsRNA in a small interfering RNA 21-23 BP (RNAs siRNAs). These double stranded siRNAs having two nucleotides over hangs at both of the 3’ends. Then siRNAs is unwounded in a single stranded by the enzyme complex called the RNA-induced silencing complex,(RISC).one strand act as RISC-targeting co-factor. siRNA having RISC binds with complementary mRNA. cleavage in the middle of the siRNA binding region by RISC is occur .then mRNA Is degrade by natural endogenous mechanisms. RNAi mechanism for dengue control: Sà ¡nchez-Vargas and collegues proved that RNAi paly a important role in the reduction of dengue infection. AAV (adeno-associated virus )siRNA infected the dendritic cells and decrease Dengue infection in human. Mosquito cell line transformed culture (C6 / 36, A. albopictus) by way of plasmid Which contain the inverted sequence of PRM gene of dengue And form dsRNA 290-BP. These transformed cells contain resistance to the dengue virus 2. When these cells are infected with dengue virus -2 viral RAN collection is not occur. These transformed mosquitoes cells Containing all the machines of RNAi. This finding proved that RNAi play a important role in reduction of dengue virus 2. Transposon ,that contain the inverted repeat sequence of prM gene of dengue virus is transformed in mosquito embryo along with carboxypeptidase A Promoter .after the intake of bloodmeal of mosquitoes dsRNA 578-BP is produce. When genetically modified Mosquito Carb 77 stuck With DENV2 having bloodmeal dsRNA is expressed along virus replication. thus preserving the Spreading of the virus from the host to the salivary Glands. RNAi mechanism is accountable for the resistance of DENV2. SiRNA-mediated silencing of receptors and Facility clathrin mediated endocytosis can prevent entry of Dengue virus .The proliferation of HepG2 cells, reducing the Virus. inhibit the dengue fever to develop into serious forms .Specified cellular genes involved in endocytosis operations And the dynamics of the cell structure, the task of infection DENV. SiRNA directing genes linked with clathrin mediated endocytosis. Villegas-Rosales et al. projected three siRNAs that have ability to silence the four DENV serotypes genome By pointing NS4B and NS5 sequences . SiRNA along with RNAi self-processing machinery have a role in the preclusion of unadorned dengue infection. In the development of new therepuetical drugs RNAI can play an imporatn role .

Proclamation of student concerns :: essays research papers

Proclamation To Address Student Concerns About The Medium News Letter: Preamble: Presented on this day, November the nineteenth, in the year two thousand and three, as members of the Rutgers University community who are concerned and dissatisfied with the subject material that has been printed in the magazine The Medium, a student funded organization, we collectively agree that the following measures need to be met and addressed with as much cooperation as possible to facilitate in the propagation of unity amongst Rutgers University students, faculty, and staff. Rutgers University’s mission statement, as defined through the following excerpt, is required to be applied to every Rutgers University organization. All Rutgers University organizations are asked to abide by the mission statement of the university in order to foster a community that is cohesive and indivisible: â€Å"Rutgers, The State University of New Jersey is committed to the ideals of excellence in fostering an enriching learning community of students, faculty and staff from a broad spectrum of nations, cultures, and historical perspectives. Diversity is an integral component of human experience, and encompasses but is not limited to issues of race, ethnicity, culture, social class, national origin, gender, age, religious beliefs, sexual orientation mental ability, and physical ability. Our collective goal is to create an institutional consciousness of diversity reinforced with equity and excellence through our policies, practices, and programs of inclusion, non-discrimination, and pluralism for all members of the University Community.† WHERE AS:  Ã‚  Ã‚  Ã‚  Ã‚  The mission of the university is stated above, The Medium must question its current relevance to the university’s mission. While membership is not neglected on the basis of â€Å"†¦race, sex, handicap, age, sexual orientation, or political and religious affiliation (Medium Constitution)†, the publication itself does not agree with the university’s mission, nor does it provide an outlet for diversity and respect of other cultures, races, and sexual orientations. WHERE AS:   Ã‚  Ã‚  Ã‚  Ã‚  The Medium has published and continues to publish ‘hate speech’, the environment in which said magazine has and is creating one of racial hostility. Community lines are drawn due to racial, religious, gender, and sexual orientation differences, causing the Rutgers University community to be disjointed and without proper unanimity and accord. WHERE AS:   Ã‚  Ã‚  Ã‚  Ã‚  The Medium has fostered an atmosphere of antagonism, the safety of students, regardless of color, creed, gender, and sexual orientation are in danger. Although opinions are without credit to those they might endanger, the physical sight of such opinions places the Rutgers community in a state of alert and fear.

Impact of Public Debt Burden on Economic Growth of Bangladesh Essay

Abstract Bangladesh is relying heavily on public debt to meet the budget deficit since its independence. In this paper, the objective is to find out whether the government of Bangladesh is excessively borrowing from the public sources and thus negatively affecting the economy of the country. For this purpose GDP growth rate (GDP), manufacturing sector growth rate (MANF), investment as percentage of GDP (INV) and Export as percentage of GDP (EXP) have been selected for judging the impact of public debt burden (DB) on these variables. The study period is 1980-81 to 2011-12. Augmented Dickey-Fuller test has been used to diagnose whether the time series data are non-stationary. Granger Causality test has been performed to identify whether DB can be used for prediction of GDP, MANF, INV and EXP, and vice-versa. Then on the basis of the result of Johansen co-integration test, Vector Autoregressive (VAR) model has been used to find out the long term association between each set of variables. But, the result shows that in Bangladesh, there is no long term statistically significant association of  DB with any of the above mentioned economic indicators. Thus, it can be said that public debt burden has no positive or negative impact on the economic growth of Bangladesh. Keywords: Public Debt Burden, Economic Growth, Domestic Debt, External Debt, Johansen Co-integration, Granger Causality JEL Classification Codes: C22, H68, R42, E62, O11 1. Introduction Bangladesh, a young country burdened with scant natural resources and a burgeoning population, has always depended on loans and grants to fulfill its ambitions and thus deficit budgets have become the norm. Budget deficits are financed by- printing money, foreign borrowings and domestic borrowings and running down foreign exchange reserves. According to the economists and researchers, Bangladesh is using all four options mentioned above and reliance of Bangladesh government on foreign and domestic loans is crowding out private investments and thus stifling the economic growth. Excessive dependency on public debt will not only hamper the current economic growth but also will affect the economy negatively in the long run, as the future generations have to bear the burden of large amount of debt servicing. This study is aimed at drawing empirical evidence, whether heavy reliance on public debt in yearly budgets is hampering the economic growth of the country. There is much debate on the issue whether public borrowing has a positive or negative relationship with the economic growth of a country. According to the followers of classical school of thoughts of economics, public debt slows down the economic growth of a country and public debt should be kept as minimum as possible. However, the Keynesian economists are extremely flexible about public borrowing. The paper is arranged as follows – the first section introduces the study; the second section describes the current scenario and trends of budget deficit and public debt burden of Bangladesh; the findings of the related literature are reviewed in the third section; the fourth and fifth sections concern the research objective, models specification, sample size and sources of data and definitions of the related variables; the estimations and interpretations of the analyses are presented in the sixth section and the final section consists of a summary and conclusion of the study. 2. Literature Review A large number of studies had been conducted to identify the impact of public debt burden on the economic growth of a country across the world. In Bangladesh a several number of research studies had been done on the sustainability of public debt burden and on the crowding out effect. However in Bangladesh very few studies have been done using the Vector Auto-regressive model, to identify the impact of public debt burden on the economic growth of the country. Fosu (1996) investigated the debt overhang hypothesis by studying 13 severely indebted countries- Zambia, Venezuela, Sierra Leone, Philippines, Peru, Morocco, Mexico, Kenya, Honduras, Egypt, Ivory Coast, Argentina and Algeria. The sample period was 1971 to 1991 and the author used OLS estimation method for panel data. The author found the negative and robust relationship between investment and external debt. Qureshi & Ali (2010) analyzed the impact of high public debt burden on the economy of Pakistan. The sample of the study was 1981 to 2008. From their study a vast negative impact of public debt on the economy of Pakistan had been found by the authors. Ahmed & Shakur( 2011) performed a research to highlight the problems created by the debt (external debt) to economic growth of Pakistan. They have used the unit root test and Johansen co-integration to analyze time series data from FY 1981 to FY 2008. The Granger Causality Vector Error Correction (GCVEC) method proved unidirectional relationship between external debt and growth rate of GDP per capita. Wijeweera, Dollery & Pathberya (2005), investigated the connections between external debt servicing and economic growth in Srilanka during 1952-2002 by using co-integration methodology for the long run error correction method for the short run.they find negative impact of debt servicing on the economic growth but insignificant. Theason is that the external indebtness is not too high in Srilanka. The result indicate that Srilanka does not have a debt overhang problem and further they conclude that there is no short run relationshi between debt servicing and GNP. Hyman (2007) conducted a study on the impact of high debt burden on the economic growth of six Carribean countries. He found that the high indebtness of these small Carribean countries is causing negative economic growth rate. Ogunmuyiwa (2011) examined whether external debt actually promotes economic growth in developing countries using Nigeria as a case study. Time series data from 1970-2007 were fitted into the regression equation using various  econometric techniques such as Augmented Dickey Fuller (ADF) test, Granger causality test, Johansen co-integration test and Vector Error Correction Method (VECM). Empirical results reveal that causality does not exist between external debt and economic growth as causation between debt and growth was also found to be weak and insignificant in Nigeria. El-Mahdy & Torayeh (2 009) used data for the period 1981-2006 to find out the debt sustainability of Egypt and the results obtained from cointegration model revealed that the public domestic debt in Egypt has a robust negative impact on growth. The sustainability of debt was examined used some algebra methods. From a study of International Monetary Fund (2008), Bangladesh’s risk of debt distress is low based on external debt indicators. Bangladesh’s external debt burden indicators do not breach the relevant policy-dependent indicative thresholds under the baseline scenario and exhibit only a marginal breach under the stress tests. Debt burden indicators are significantly worse when domestic debt is included. Accordingly, this analysis reveals a more elevated risk of debt distress on public debt compared to results based solely on external debt. Staffs will monitor closely the evolution of domestic debt and the government’s ability to mobilize domestic resources. Majumder (2007) investigated the crowding-out effect of public borrowing on private investment in the Bangladesh context. An investment function with three independent variables, namely, public borrowing, GDP and interest rate has been estimated by analyzing the unit root test, co-integration test and the error correction model. The main findings of the study do not corroborate the crowding-out hypothesis in Bangladesh, rather, provide the evidence of crowding-in effect. Gunter & Rahman (2008) used the debt projection module, to project the evolution of Bangladesh’s public debt over a 15-year horizon (from fiscal year 2006 to fiscal year 2021) under three different macroeconomic scenarios and two different financing scenarios of an ambitious government-led investment strategy. The results of the debt scenario implied that increases in the debt levels for most of the projection period with levels high enough to have negative implications on investment and growth, the grant scenario implies a clearly limited increase in debt levels, with reduced debt levels at the end of the projection period similar to those under the baseline scenario. From the brief review in can be found that public debt burden has  a negative impact on the economic growth of a country, its impact on investment and other economic indicator varies depending on a country’s extent of indebtness. Situation of Public Debt Burden in Bangladesh Public debt is of two types- i) external debt and ii) domestic debt. The amounts of domestic debt are estimated by the Ministry of Finance of Bangladesh government. Figure 1: Budget Deficit, External Loan, Domestic Loan, and Net Loan from Banking and Non-banking Sector of Bangladesh from1993-2012 (amounts in ‘00 crore taka) Source: Bangladesh Economic Review 2005-06 and 2011-12 From the above graph it can be found that the budget deficit of Bangladesh government is increasing from year to year and it is showing a sharp increment in deficit from the fiscal year 2008-09 onwards. The domestic debt burden and govt.’s reliance on credit from banking channels are showing a sharp increase from the fiscal year 2009-10 onwards. However the dependence on external credit is showing a declining trend. Research objective and Sample The objective of this research is to observe the empirical relationship between public debt burden and economic growth of Bangladesh. For this purpose time series econometric tools have been used. Various variables that indicate debt burden parameter and growth condition have been taken in to consideration. The sample period of the study is 32 years, from 1980-81 to 2011-12. Data used in this study has been collected from secondary source. Data and Methodology * Nature of the Variables: In this study variables used are- Debt Burden (DB), where DB is stands for Debt Burden that is sum of Domestic Debt and foreign debt outstanding at the end of each period, calculated as percentage of GDP; Gross Domestic Product (GDP) growth rate; manufacturing production growth rate (Manf); total investment as percentage of GDP (Inv); and total  export as percentage of GDP (Exp). * Data Collection: Data series of these variables is collected from Bangladesh Economic Survey/ Review (various issues), Monthly Economic Trends (various issues) and Statistical Year Book of Bangladesh (various issues). * Method of Estimation: At first the stationary property of the univariate time series data has been examined. Augmented Dickey-Fuller (ADF) test has been used to test the unit roots of the concerned time series variables (Dickey and Fuller, 1979). The extended maintained regression used in the ADF test can be expressed in its most general form as: (1) Where, is the drift term, denotes the time trend, and is the largest lag length used. In this model, H0 =There is unit-root; & H1 = There is no unit-root. Then, the time series has been examined for co-integration. Co-integration analysis helps to identify long-run economic relationship between two variables. Granger and Newbold (1974) noted that, co-integration analysis is important because if two non-stationary variables are integrated, a Vector Autoregression (VAR) is misspesified due to the impact of a common trend. If co-integration can be identified between the variables then the model should include the residuals from the vectors (lagged one period) in the dynamic Vector Error Correcting Mechanism (VECM) system. If the variables are not co-integrated then Vector Autoregression (VAR) model is used. (2) The bivariate vector autoregressive model has two dependent variables y1,t and y2,t, where t = 1, †¦, T. The development of the series should be explained by the common past of these variables. That means, the explanatory variables in the simplest model are y1,t-1 and y2,t-1. The VAR (1) with lagged values for every variable is determined by: (3) y1,t= ∠11y1,t-1+∠12y2,t-1+ÃŽ µ1,t y2,t=∠21y1,t-1+∠22y2,t-1+ÃŽ µ2,1 In this model the assumptions about error terms are- * The expected residuals are zero, EÃŽ µi,t=0 with i=1, 2 * The error terms are not auto-correlated EÃŽ µi,t.ÃŽ µj,Ï„=0 with t≠ Ãâ€ž However, VAR-Models themselves do not allow us to make statements about causal relationships. This holds especially when VAR-Models are only approximately adjusted to an unknown time series process, while a causal interpretation requires an underlying economic model. However, VAR-Models allow interpretations about the dynamic relationship between the indicated variables. (4) The Johansen approach can be used to carry out Granger causality test as well. Granger (1969) developed a test approach to proof if a time series X contributes to the prediction of another series Y. Granger Causality is exists if the mean squared forecast error (MSE) by using the series X in the forecast model is smaller than without consideration of X: MSEYYt+hItÃŽ »2>ÃŽ »3>†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..>ÃŽ »k and r0 ranges from zero to k-1 depending upon the stage in the sequence. This is relevant test statistics for the null hypothesis r ≠¤ r0 against the alternative r ≠¥ r0 + 1. The second test statistic is the maximum Eigen value test known as ÃŽ »max(r0). This is closely related to the trace statistic, but arises from changing the alternative hypothesis from r ≠¥ r0 + 1 to r = r0 + 1. The idea is to improve the power of the test by limiting the alternative to a co-integration rank which is just by one more than the null hypothesis. The ÃŽ »max test statistic is: ÃŽ »max(r0) = -T in (1- ÃŽ »i) for i = r0 + 1 The null hypothesis is that there are r cointegrating vectors, against the alternative of r + 1 cointegrating vectors. Johansen and Juslius (1990) indicated that the trace test might lack power relative to the maximum Eigen value test. Based on the power of the test, the maximum Eigen value test statistic is often preferred. Estimation and Explanation To examine the impacts of public debt burden on the economic growth of Bangladesh for the time period of 1980-81 to 2011-12, the research results and their explanations are presented in this section.

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Homework Assignment for Finance Example | Topics and Well Written Essays - 1000 words

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