IT for Business Samples for Students †MyAssignmenthelp.com

Question: Discuss about the IT for Business of Travel and Tourism. Answer: Introduction Business Technology has revolutionized ways in which company is conduct their businesses. Small Businesses are supposed to implement The Business Technology as well as level the playing field with large number of organisations. Often businesses use service computers personal digital products and websites for developing competitive advantages in economic market place. Therefore, Information Technology has an ideal impact over each and every business by any means or medium. The study thereby explores impact of IT on a business which belongs to tourism sector in this study. The organisation chosen for accomplishing the study is TripAdvisor and the effects of using information technology on this particular company are being presented in the review. Impact of IT on business of TripAdvisor In order to incorporate IT in the tourism business of TripAdvisor, the management needs to estimate the cost of the implementation phase through allocating adequate budget for this policy. On the other hand, inadequacy of budget can cause hindrances in the implementation stage of IT in business. Proper planning and designing of IT infrastructure is needed to enhance the quality of the website of TripAdvisor. A lucrative design of the website can help in attracting the customers to go through the features and credentials of the website (Beaudry et al. 2010). On the other hand, allocation and purchase of essential IT equipments is important to apply IT for making sustainable improvement in the business spectrum. The phase of IT installation can be regarded as the most crucial phase of implementing IT to a business as a minute mistake in this part can lead the entire effort to futility that only not will waste the resources of the company but also will damage the brand identity (Chaffey et al. 2010). The services need to be installed systematically in adherence with the norms of intranet and internet system. The aspect of training is important for TripAdvisor as the company needs to train the employees with flawless training sessions to enable them to operate the IT framework of the organization for preventing collapse and achieving success (Tripadvisor.mediaroom.com, 2017). TripAdvisor use both intranet and internet system in business as the use of IT in internal and external purposes has helped the organization to incur utmost proficiency and time effectiveness in business performance (Thong et al. 2011). The internal structure of work in this organization is developed through IT as the employees use intranet facility to communicate and assist the customers to prepare a plan of a tour. On the other hand, the external stakeholders like customers are also associated with the internet system procured by TripAdvisor. The company uses the IT system to ventilate the available services to the customers along with a provision for the customers to submit their service purchase request through the internet system (Martins, 2011). The IT system is also used by TripAdvisor to acknowledge the feedback of the customers about the service quality of the organization for fostering further improvements in service through IT system. This organization uses IT to conduct t he business for incurring speed and coherent pragmatism in the organizational purpose for maintaining internal adherence with external business development. The incorporation of IT in the business of TripAdvisor has procured the path for advantages in the business of tourism management. The use of IT can enhance the generation of revenue through controlling the invested cost in business programming. The use of IT enables the organization to complete the task with fewer employees through the IT systems whereas the savings from employee salary can help the company to gain extra benefit (Lu, 2011). The workforce framework can be made flexible through including IT in the business of tourism industry as the use of web system enables the company to bring diversified features and easy accessibility to the customers. The use of IT helps TripAdvisor to reduce the cost of manual business to avail the relaxation of reduced cost of production of services. The use of IT system helps in enhancing the communication between internal and external stakeholders to foster sheer effectiveness in business purpose (Robert et al. 2011). The sharing of informati on becomes easy through IT system as technological advancement helps to share the information about different tourism packages and company policies can be revealed with the use of internet. The use of IT aids TripAdvisor to enable automated tasks through saving valuable time with enhanced margin of service production. The main risk in using IT in business is the drastic degeneration of interpersonal communication that spoils the coherent working environment of TripAdvisor. The use of IT often increases the cost of business maintenance that can create problems to organize the tourism business with success (Holtshouse, 2013). The incorporation of IT brings the risk of security issues in an organization as TripAdvisor needs to formulate encrypted security measurements to secure the website from being hacked through unauthorized access for manipulation of valuable information. The data protection is a vibrant issue that comes along with the inclusion of IT in business spectrum. The risk of privacy is pivotal for IT oriented business as the company engages in a compulsion to take special measurements against virus and malware attack to maintain the privacy of the organizational information. The organization needs to take intense determination about the issues of sharing the organizational information t o the third parties though the access of the website (Davenport, 2013). The unauthorized ventilation of tourism data needs to be prevented by TripAdvisor to maintain the legislative statutes about keeping coherence with the data confidentiality process. The phishing trick is another potential risk associated with IT use for an organization as the intruding of phishing contents can damage the integrity and solidarity of the website of TripAdvisor. TripAdvisor can procure an inventory of the system protocols to manage the IT process with intense ease. The development of control change process can also help the organization to manage the IT oriented system with utter proficiency (Ramirez et al. 2010). On the other hand, TripAdvisor needs to be aware of the standards in order to maintain full compliance with the norms and statutes of the standards. The dependencies need to be accounted precisely for proper maintenance of the IT system in the tourism industry. TripAdvisor can use log path to monitor the IT systems to find out the discrepancies for further improvement. The organization can also use software to monitor the system for tracking the performance of the website through proper distribution of the resources. The SNMP access can be used to collect relevant data about the IT system to monitor the functioning of the website (Lee et al. 2010). On the other hand, the use of Management Information Base can also be essential for TripAdvisor in order to procure effective management of IT system. The use of anti malware software can help in managing the IT system of the company whereas prolific monitoring of the utilization and capacity of network can also help TripAdvisor to manage and improve the business with the help of flawless IT systems. Tourism sector broadly confronts the use of information technology in the strategic policies of marketing. Under marketing specialist through social media are advertisements Information Technology has been observed to crack biggest deals with the tourism industry (Willcocks, 2013). it is even identified that tourism industry efficiently maintenance as well as monitors the information technology. On their names of promoting the offers and discounts under the company TripAdvisor, they install distinct mediums of information technology in order to convey their promotional activities to customers. In this way by launching several means of information technology they are prone to Grab huge attraction of the customers or tourists especially in off seasons (Wagner, Beimborn Weitzel, 2014). Conclusion From the above mentioned report it can be supported that the importance of IT and is mind-blowing and needs to be well informed so as to maintain the support of the organization and the clear development of the organization in terms of the transport and tourism is achieved. Most importantly it is evidently seen that the development of the organization is based upon the proper implementation of it and the monitoring of those system implemented in the organisation. The need of it and the proper managing of all the resources provided by information technology in the field of transport and tourism are of immense importance and needs to be properly evaluated so as to develop proper field of communication and greater development of the society. Recommendation Smooth operation of an organization is based on proper understanding of the situation. It is essential that the smooth management of the organization are better upgraded with the installation of the software that marks the smooth growth of the organization. It can be supported that the management of the organization in terms of travel and tourism industry needs to be upgraded in proper sense so as to gather proper information about the operation of the organization. The installation of the IT department in the society of travel and tourism industry would help the management of the organization in greater managing of the demands of the tourist asking for the suggestion. References Beaudry, A., Pinsonneault, A. (2010). The other side of acceptance: studying the direct and indirect effects of emotions on information technology use.MIS quarterly, 689-710. Chaffey, D., White, G. (2010).Business information management: improving performance using information systems. London: Pearson Education. Choi, S. Y., Lee, H., Yoo, Y. (2010). The impact of information technology and transactive memory systems on knowledge sharing, application, and team performance: a field study.MIS quarterly, 855-870. Davenport, T. H. (2013).Process innovation: reengineering work through information technology. Oxford: Harvard Business Press. Holtshouse, D. K. (2013).Information technology for knowledge management. U. M. Borghoff, R. Pareschi (Eds.). London: Springer Science Business Media. Lger, P. M., Charland, P., Feldstein, H. D., Robert, J., Babin, G., Lyle, D. (2011). Business simulation training in information technology education: Guidelines for new approaches in IT training.Journal of Information Technology Education,10(1), 39-53. Lu, Y., K.(Ram) Ramamurthy. (2011). Understanding the link between information technology capability and organizational agility: An empirical examination.Mis Quarterly, 931-954. Oliveira, T., Martins, M. F. (2011). Literature review of information technology adoption models at firm level.The Electronic Journal Information Systems Evaluation,14(1), 110-121. Ramirez, R., Melville, N., Lawler, E. (2010). Information technology infrastructure, organizational process redesign, and business value: An empirical analysis.Decision Support Systems,49(4), 417-429. Tripadvisor.mediaroom.com (2017). About us. Retrieved from: https://tripadvisor.mediaroom.com/in-about-us [Accessed on 13th may, 2017] Venkatesh, V., Thong, J. Y., Xu, X. (2012). Consumer acceptance and use of information technology: extending the unified theory of acceptance and use of technology. London: Springer Science Business Media. Wagner, H. T., Beimborn, D., Weitzel, T. (2014). How social capital among information technology and business units drives operational alignment and IT business value.Journal of Management Information Systems,31(1), 241-272. Willcocks, L. (2013).Information management: the evaluation of information systems investments. London: Springer.

Tok thoughts Essay Example For Students

Tok thoughts Essay A person can speak meaningfully about a historical fact. They can tell someone about a event that happened in history. It can make sense if the person speaking about a point and time in history if they know all or most of the facts about it. Someone can speak with certainty about anything in the past if they know the actual facts and understands what actually took place during that point and time. This person would have to learn the information before using it. They can either get their information through primary source documents or secondary source documents. It is best that the person gets the information from a primary source document because the information s factual and came from that point and time in history. We dont really know whether the historical information is a fact, especially ancient history. 2. In todays society, people rely on the internet to gain knowledge and study history. This method is mostly used by the people of today because it is easier and can be done in your own home. We will write a custom essay on Tok thoughts specifically for you for only $16.38 $13.9/page Order now This effects the study of history because there can be false information on the internet; a person surfing the internet would not know which information is reliable or not. We dont really know whether the information is true or false if we have not studied the information before. For example, anyone can put information onto the internet. Websites , like Wikipedia, give access to internet users to change the information on the website. Now having the internet as a source means that fewer people would use encyclopedias or the library; they would not choose books with factual information over the internet. Now we do not observe the past directly because we were not there to witness what actually happened in that time in history. We wont be able to observe the past directly because we cannnot go back in time to witness the factual information in history. 3. In the following claim, it says that we cannot write ancient history because we do not have enough information and we cannot write modern history because we have too much information. This claim is saying that we were not there to witness what actually happened in ancient times. One way we can get the information that was passed down from generation to generation. This information is unreliable because word passed by mouth over time can be changed to make the passed seem different. It also is saying that we cannot write modern history because we have too much information and most of the information is not needed. There is so much useful information that is out there, but someone needs to determine which information is needed. We dont know who picks and chooses which information is reliable. We cannot distinguish which information is necessary to write about modern history. 4. I think that the ability to analyze evidence scientifically is most important attribute of the historians. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our  International Baccalaureate Theory of Knowledge  section.

Critical analysis of a broadsheet newspaper Essay Example

Critical analysis of a broadsheet newspaper Paper My newspaper is a broadsheet, whose main purpose is to inform, state the facts about what is going on in the world around us. It is to have an unbiased view, telling the news as it is, how it is, without distorting the truth. It is to remain as factual, formal and serious as is possible, while keeping it simplistic enough to reach a wider audience, with short simple facts about the situation. But crams in enough information in such a way to meet the needs of a more intellectual people. I have intended to target an audience of the general public. However I feel the broadsheet will appeal to a group mostly consisting of adults, who dont want the latest gossip and rumours on celebrities. The language I have used is very emotive, One day, Sydney Bristow, Mathew Bristows 3-year-old daughter, will understand the full implications of yesterday, when her Father was murdered just a mile from her home in Stanton Island. Unfortunately this article is indeed very emotive, and ideally would not be, to remain constant with the style of the paper. However it is hard not to be biased against the offender, and not to feel pity for the fatherless little girl, in an appalling crime such as this. We will write a custom essay sample on Critical analysis of a broadsheet newspaper specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Critical analysis of a broadsheet newspaper specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Critical analysis of a broadsheet newspaper specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Trying to make the paper unbiased is therefore unrealistic, and should not of been the style of the articles in the newspaper. Bias is clearly shown against Ray Spielman describing this act as one of Rays usual past times. This bias is justified because I want society to stamp down on men like that. Readers are led to believe that Ray Spielman is simply a cold hearted killer. However, his side of the story has not been uncovered, as he as not been able to contact and would probably unwilling to participate in an interview. One of the most influential presentational devices is the masthead, as this is the first thing the reader sees, and is also used to identify a newspaper. Taking this into account I have made the masthead with a bigger font, making it easier to see. I came up with the masthead The Daily Chronicle for my newspaper for various reasons. The phrase The Daily Chronicle means that it is a journal that logs events daily, making it perfect for its use as a masthead, as it sums up the contents of the newspaper. The word Chronicle in my opinion, has a futuristic quality to it. This quality is convenient for me as it symbolizes, that the news reported, can have an effect on the future. The masthead is written using an old calligraphic font, to make it seem established along time ago, so that it appears to be reliable. The title Ruthless Murderer Escapes is very striking as the words Murderer and Ruthless have powerful and staggering effects on the reader. However these effects could have been intensified if alliteration and puns were utilised in the title. The paragraphs of my paper were present to ensure that my newspaper was reader friendly and a new paragraph was started every time a new point was being discussed. Ideally, I would have put more than three columns on my newspaper like broadsheets do, but I was limited in space because I was using only A4 paper. A jump line was actually not needed as my newspaper only consisted of two pages. It was used solely as a presentational attempt to make the paper look authentic. A real newspaper would have a jump line, to direct readers, to a subsequent page of the newspaper, where the rest of the article is displayed. This would help separate articles from other articles, save time and avoid confusion that could lead to frustration on behalf of the reader. All of my pictures are in colour to make them eye-catching. The main picture on the front-page would not usually be put on a broadsheet, in the interest of its readers, because of its violent and explicit nature. However tabloids use such tactics, by putting shocking pictures of murders or a half naked celebrity to pull attention and boost sales, precisely the job of the provocative page 3 girls in the Sun. I wanted the picture to have the same appeal to readers, and boost sales. My attempt to make the article as factual as possible was a success, as I included some statistics, The damage caused by him in the last year alone has summed up to a total of at least i 4,000,000 which may have alarmed readers. The start of the article was also very factual, Ray Spielman, a convict aged 27, has escaped while he was being transferred to Staunton Maximum Security Prison yesterday, at about 9:45pm.

Macro Economics Analysis Essay Example

Macro Economics Analysis Essay Example Macro Economics Analysis Essay Macro Economics Analysis Essay Essay Topic: Economics Economics 100 Assignment option 2 Lecture: Ms Maria Lantzke Thursday 8. 30 am to 12. 30 pm Table of contents 1. Article summary †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 2. Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 3. Analysis .. 3 1. UK Inflation Rate †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 Definition of inflation †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Causes of inflation †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 2. Consumer price index †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Definition of Consumer price index †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5 Increasing CPI in UK.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. .5 3. Business cycle †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 Definition of Business cycle †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦.. 6 Business cycle in UK†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 3. 4 Interest rate and monetary policy †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 Expansionary monetary policy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Contractionary monetary p olicy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦.. †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 4. 0 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 9 5. 0 Reference list †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10 1. 0 Article summary This article called â€Å"UK inflation rate rises to 4% in January† was posted on February 15, 2011 by BBC. It displays increased inflation rate in Unites Kingdom. Indeed, The UK Consumer Prices Index (CPI) annual inflation rate rose to 4% in January. This CPI figure picked up highest since November 2008. Monetary policy committee (MPC) is considering a possible increase in the interest rate to try to cool inflation. However there are contrasting opinions about when the Central Bank should increase it. In addition, the article refers to the causes of inflation. Mr. King, the Bank of England governor, recognizes possible causes of inflation in the VAT rise, the fall in the pound and recent rises in commodity prices. However, Chancellor G. Osborne disagrees about the VAT rise as a cause of inflation. Furthermore, in this article there are more others causes of inflation: the high price of petrol and crude oil, global changes in the price of foods and commodities. 2. Introduction This report provides an analysis of inflation in UK with applying some economics theories. The inflation rate picked up 4% in January which is highest since November 2008. In this article there are four main concepts of macroeconomics, such as inflation and CPI, interest rate and monetary policy. The purpose of the report is to describe the economic problems in England, through the analysis of these economics theories. 3. 0 Analysis 3. 1 Inflation rate Inflation is the sustained increase in the general level of prices in the economic (Hubbard et al. 2010). It’s measured by the price level, which measures the average prices of goods and services in the economy. The figure of percentage increase in the price level from one year to next is called inflation rate. In UK, the inflation rate rose above the 2% target. Bank of England governor, Mr. King, believes the inflation will rise towards 5% in the next months and MMC thinks that high inflation is just temporary as it will fall below the target in 3 years. However, Inflation below the target of 2% is judged to be just as bad as inflation above the target. Causes of inflation Inflation is usually categorized as demand-pull or cost-push. Demand-pull inflation is a rise in general price level in the economy caused by an increase in the aggregate demand and production levels are not able to meet the high demand immediately (Hubbard et al. 2010) Cost push inflation is a rise in general price level in the economy caused by a decrease in the aggregate supply of goods and services. Aggregate supply decrease when there is an increase in price of inputs, such as raw materials, equipments, machinery. [pic] Figure 1 Cost-push inflation Figure 1 shows the process of cost-push inflation; 1. The economy is riginally at equilibrium at point A, with the price level P1 and real GDP Y1. 2. A supply shock moves the aggregate supply curve to the left, from SRAS1 to SRAS2, which leads to a fall in real GDP below its potential level and a rise in the price level from P1 to P2 (Hubbard et al. 2010). The article refers to a rise of prices of petrol and crude oil, two essential raw materials, as two causes of inflation. The higher oil price affects others related with it such as cars, factories, any machineries operated by oil. And also mortgage interest payment has been increased from 4. 8% to 5. 1% as Retail Prices Index (RPI). There are no evidences about a rise in demand for goods and services. Therefore UK inflation can be considered cost-push inflation. 3. 2 Consumer price index The Consumer Price Index (CPI) is an average of the prices of goods and services purchased by the typical family. CPI is also called â€Å"cost of living index† as it measures the cost to the typical family to buy a representative basket of goods and services. Office for National Statistics (ONS) review â€Å"the â€Å"shopping basket† every year and decide which items taking outside and which bringing in, to reflect changes in the market (Topic guide to: Price Indices and Inflation. . d. ). Despite CPI is the most popular measure of inflation, it has some disadvantages as it cant measure the substitution bias, increase in quality bias, new product bias and outlet bias. . substitution bias: ONS assumes that consumers buy the same quantity of each product in the market basket each month, while consumers are likely to substitute a product, whose price goes up, with a cheaper one. . Increase in quality bias: products can improve in quality and therefore the higher prices will reflect also the higher quality of these products. However CPI cant measure quality of products. New product bias: ONS updates â€Å"the shopping basket† every year, but during this period of time a lot of new products, such as new technology tools, can come out in the market. However new products are not included in CPI. . Outlet bias: many people buy products from discount stores or via internet, while ONS collects price statistics just from traditional full-price retail stores. So CPI cannot always reflect the prices that consumers actually pay. CPI in UK rose to 4% in January, highest record since November 2008. According to the article, â€Å"The price of petrol as measured by the CPI was ? . 27 a liter in January 2011, which the Office for National Statistics said was a record high. † In addition, t here has been an increase in price of food, commodities, costs of transport, furniture, alcohol and UK government rose VAT from 17. 5% to 20% in January. 3. Business cycle Business cycle consists in alternating periods of economic expansion and economic recession. According to the article, UK economy contracted by 0. 5% in the final quarter of 2010, going in recession phase. In the recession phase employment, production and income decrease. Generally, during recession, inflation rate goes down as there is a decline in consumption. As a consequence, firms have problems to sell their products and will not raise prices. However, in UK the inflation is keeping on rising, but MPC believes that inflation is temporary and will be below the target in three years. 4. Interest rate and monetary policy Monetary policy is one of the tools that central banks use to influence economy. Using its monetary authority to control the supply and availability of money, the central banks attempt to influence the overall level of economic activity in line with their objectives. The objectives of the Bank of England are: maintaining price stability – low inflation – and supporting economic growth. Price stability is defined by the Government’s inflation target of 2%. In 1998 Bank of England was recognized independent to set interest rates from the government. The legislation provides that if, in extreme circumstances, the Government has the power to give instructions to the Bank on interest rates for a limited period (Monetary Policy Framework. n. d. ). The Monetary Policy Committee (MPC) is a special committee, which meets monthly to decide the level of interest rates. It is chaired by the Governor of the Bank of England, Mr. King (Monetary Policy Framework. n. d. ). The central bank can decide to undertake expansionary monetary policy or contractionary monetary policy. Expansionary monetary policy Expansionary monetary policy consists on actions taken by the central bank to increase economic growth rate, by decreasing interest rate. Indeed lower interest rate increases real GDP and the aggregate demand as: Lower interest rate causes consumption to increase and discourage people to save money Lower interest rate causes investment to increase as borrowing money will be less expensive. Therefore firms will find convenient borrow money from the banks to engage in new investment projects. As it’s shown, lower interest rate stimulate AG and the new equilibrium of economy will occur at the new potential RGDP. However, as AD and GDP rise, also the price level will rise, increasing inflation. [pic] Figure 2 expansionary monetary policy At the beginning the economy is in equilibrium at point A. During the time, LRAS1 shifts to LRAS2. Without expansionary monetary, AD1 will shift to AD2 (without policy),which is below the potential RGDP. By lowering interest rate, the central bank increase consumption, investment and net export sufficiently to shift AD1 to AD2 (with policy). New equilibrium is at point C. The price level at point C is higher than it would have been without policy. Contractionary monetary policy On the contrary, contractionary monetary policy consists on actions taken by the central bank to reduce too fast economic growth and inflation rate, by increasing interest rate. Higher interest rate causes AD to decrease as: Consumption declines and people find more profitable saving money Investment declines as borrowing money become more expensive for the firms. Therefore firms are not stimulated to do new investment projects. As it’s shown, higher interest rate causes AD to decrease. As a consequence, price level and RGDP will decrease as well, leading to a decline of inflation rate. [pic] Figure 3 Contractionary monetary policy This figure shows an example of contractionary monetary policy. High inflation in UK â€Å"will put pressure on the Bank of England to lift nterest rates to curb accelerating inflation†. As we seen before, increases in interest rate can be an efficient tool to reduce inflation. However contractionary monetary policy is used generally when the economy is growing too fast, but in the case of UK, the economic growth rate decreased by 0. 5%. Therefore, an expansionary monetary policy with low interest rate should help the economy to revitalize as firms and households are willing to spend more and to be engaged in new investments. According to the article â€Å"interest rates have remained so far a historic low of 0. % for the 23rd consecutive month†. 4. 0 CONCLUSION To sum up, the Bank of England is waiting to see the next inflation rate and the government actions, before taking any decisions. The interest rate is still at the low percentage of 0. 5% and the central bank hopes that it helps to turn around the economy. Despite of the Bank’s conviction that inflation is just temporary, it’s estimated an additional rise to about 5%. Therefore an increase in interest rate will occur for sure in the future, but still it’s not certain when it’s the best time to do it. . 0 REFRENCE LIST Hubbard, Anne M. Garnett, Philip Lewis, Anthony Patrick O’Brien. 2010. Essentials of economics. Frenchs Forest, NSW. Pearson Australia. UK Nationl Statisstics, Topic guide to: Pr ice Indices and Inflation. n. d. statistics. gov. uk/hub/economy/prices-output-and-productivity/price-indices-and-inflation/index. html (accessed May 18, 2011) Bank of England, Monetary Policy Framework. n. d. bankofengland. co. uk/monetarypolicy/framework. htm (accessed May 19, 2011)

Triceratops Trail, CSM Geology Museum, and Dinosaur Ridge Essay

Triceratops Trail, CSM Geology Museum, and Dinosaur Ridge - Essay Example The triceratops trail footprints are different from the Dinosaur Ridge ones in that the ones for Dinosaur Ridge are aged million and are viewed from top. Triceratops Trail characterize tracks that are vied in three dimension formed if an animal leaves a print in mud that is afterwards filled hence forms a cast and vertically tilted by the rocky mountains uplift. The whole process leaves behind tracks that stick from the walls as the original layer had been mined away. Footprints of dinosaurs, birds, mammals and beetles are evident on the walls. It is a trail of 1.5 mile along parkway of Alameda between county road and Rooney road on the North. It has 100 tracks of dinosaurs, geological features and a quarry containing dinosaur bones. It takes about 2 hours to make trips. The trail is composed of more than 15 sites all marked by interpretive signs. At the ridge’s top there is a switchback curve that cuts through revealing the geological Hogback structure. Two overlooks scenes, west and east, are places where Front Range geology is studied or where one can sit and enjoy a beautiful scene. The interpretive signs on the curve show the gas and oil production, the basin of Denver, rocky mountains uplift and Golden fault. The bone quarry was discovered in the year 1877 by a company known as Arthur Lakes. This site was initially known as Morrison quarry no 5. Among the fourteen sites in the location only 4 did produce bones. Quarry no 5 is the bone quarry where the first stegosaurus in the world was discovered. Many vertebrae, limb parts and famous plates’ pieces were discovered and are now evident on Morrison museum display. The bones that are presently exposed at their sites of interpretation are most probably from Apatosaurus and stegosaurs and are washed by rain into stream channel. The bone quarry is amongst the few places where one can have a view of dinosaur bones and touch them in rocks in which they fossilized. The

Process Explanation -Dog Grooming Essay Example | Topics and Well Written Essays - 500 words

Process Explanation -Dog Grooming - Essay Example Baths, a traditional part of grooming, should only be given about once a month. This helps keep the natural oils in the coat that the animal relies on to act as a water repellant (Woolf). When giving the dog a bath, care must be taken to use shampoo specifically designed for pets. It is less strong than shampoo that is made for humans and does less damage to the natural composition of the fur. The groomer should take care during bathing to notice any irregularities in the pets skin. After the bath, the dog should be trimmed of excess fur and brushed. However, grooming does not stop here. There are additional areas to be inspected, cleaned, and trimmed. After the bath, a dog needs to be trimmed in the areas of matted fur, excess fur, nails, and ears. For a long haired breed such as a Golden Retriever, a firm long bristle brush helps to remove tangles and matted fur from the dog. When encountering a tangle, it is advisable to work slowly from the outside of the area a little at a time (Woolf). If the coat is excessively tangled, work in short sessions and give the dog ample amounts of praise for its patience (Woolf). Other important areas to groom include trimming the toenails and cleaning the ears. Look for the appearance of ticks, mites, or infections that could become complicated at a later date. Grooming serves an additional purpose in that it develops a bond between the dog owner and the dog. Grooming should be continued daily with regular brushing and inspection. Long haired breeds shed routinely and need to have the loose undercoat removed with a firm bristle brush. This is a good opportunity to inspect the pet for fleas or skin irritations. This period of brushing brings the owner and the pet together and helps the owner better understand their animal. Daily brushing will create a life long bond between the pet and owner. In conclusion, grooming starts with a monthly

Alcoholism and its Effects on Society Essay Example | Topics and Well Written Essays - 1500 words

Alcoholism and its Effects on Society - Essay Example The extrapolation derived from the data on drinking practices from the surveys of household probability suggest that there are nearly 29 million children of alcoholic patents and an anticipated 22 million of them are either 18 years of age or older and nearly 6.6 million are below the age of 18 years. Regrettably, even though it is a known fact that this magnitude of population and the possibility of these individuals of suffering from a variety of problems, a well controlled research is not yet done. Along with descriptive epidemiological investigation a range of other forms of studies are needed. A systematically sound research can offer groundwork for the enhancement of early intervention and effective preventive programs to eradicate the potential adverse effects of alcoholism. Even though the children of alcoholic parents are at a higher risk for alcoholism, it should be observed that a huge percentage of these children do not necessarily develop this disorder. Different patterns of alcoholism are suggested by research both with a high environmental risk and genetic vulnerability. It is likely that some individual with high risk do not develop alcoholism they may employ coping mechanisms. Multiple coping mechanisms are clinically observed in these children and many of them grow up to be free from psychopathology or alcoholism. These studies of coping mechanism are employed by the resistant individuals that may have special value for prevention and treatment programs. Concerning the children of alcoholics the clinical reports have described a range of psychological impairments that have been experienced by them in addition to drug abuse or alcohol. The psychological problems that have been observed have included the presence of both minor and major types of impaired self-esteem, reality testing, vocational and impaired academic performance and susceptibility to a number of acting out behaviors including running away and delinquency. The majority of these studies were limited to assessing the children who were getting treatment of the problems or those whose parents were being cured for alcoholism. To examine the children of alcoholics a broader spectrum of research is needed. The study that compares non COA's and the COA's suggest that even though both the groups differ in a wide range of psychosocial aspect, the differences in the cognitive performance are observed frequently. The cognitive function in the children of alcoholics have been examined by researchers as it is significant factor require for adaptation at all the stages of development. This can be evaluated uniformly across the stages of development and is associated with symptoms of alcoholism. In the book Alcoholic fathering and its relation to child's intellectual development: A pilot investigation, the author Ervin and Et al have analyzed that the full IQ performance and the verbal score are lower among the sample of children those are raised by alcoholic parents than those raised