...Chapter 8 The Policy Trilemma in Open Economies Chapters 6 and 7 discussed the choice of an exchange rate regime as a monetary policy instrument, and examined the advantages and disadvantages of pursuing fixed versus floating exchange rate regimes under perfect capital mobility. Under each regime, we considered the effectiveness of fiscal policy, effectiveness of conventional monetary policy (ability to influence domestic short term interest rates), and exchange rate stability. We found that, although only a credible fixed exchange rate regime achieves bilateral exchange rate stability, no single exchange rate regime entirely dominates the other in terms of the effectiveness of monetary and fiscal policies. These findings suggest that the choice of an exchange rate regime presents genuine tradeoffs for policy makers, and it is time to discuss several factors that would guide such a choice in practice. In reality, hard pegs and floats represent the two idealized extremes of a spectrum of exchange rate regimes. Within that spectrum, there is a variety of options available to policy makers, but these options require additional policy instruments. One such policy instrument is capital controls, which affect the incentives underlying international capital mobility. So, in this chapter we discuss the form and consequences of these capital controls as a policy instrument. Given that capital controls constitute a third policy instrument, it is useful conceptualize policy choices using three intermediate...
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...UNDERGRADUATE REGULATIONS & SYLLABUSES 2014 - 2015 THE FACULTY OF SOCIAL SCIENCES TABLE OF CONTENTS MESSAGE FROM THE DEAN ............................................................. 3 UNDERGRADUATE PROGRAMMES ................................................ 4 ACADEMIC CALENDAR 2014-2015 ................................................ 5 DEFINITIONS ...................................................................................... 13 GENERAL INFORMATION & REGULATIONS .............................. 14 General Regulations for Bachelor of Science Degrees 14 Special Regulations for Degrees in Hospitality and Tourism Management........................................................... 27 Franchise Agreements .......................................................... 27 EVENING UNIVERSITY -GENERAL INFORMATION & REGULATIONS ................................................................................... 28 General Regulations for Bachelor of Science Degrees 28 General Regulations for Diploma Programmes ............ 36 General Regulations for Certificate Programmes ......... 37 STUDENT PRIZES .............................................................................. 38 CODE OF CONDUCT ........................................................................ 39 UNIVERSITY REGULATIONS ON PLAGIARISM .......................... 40 THE ACADEMIC SUPPORT/ DISABILITIES LIAISON UNIT (ASDLU) ..............................................................................................
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...Superior Performance Triangle: Recession can do you far worse than 10 competitors A slow economy & bear market can take a bite out of investment returns Forecast business cycleapply well tied business cycle management strategies: production, inventory, HR, Marketing, capital financingmaster building an org that is keenly tuned to the business cycle Recession is a good time to market and increase brand awareness, super time to find great people to hire, most companies are in a panic and lay off great people Org culture is good because when times are tough, major decisions won’t go through unless you all agree Movement’s in business cycle is seen by the GDP GDP= Consumption (consumer confidence, retail, home sales) + Business Investment (ISM manufacturing index) + Gov Spending (fed budget balance) + Net exports (Exports- imports) (monthly trade balance) Economists always distinguish between nominal and real gdp Secular growth trend-upward sloping line Inflation rate determines nation;’s bank’s monetary policy 6 Functional areas of Corporation: -production, inventory, supply chain management -marketing and pricing Corporate finance and credit management Capital expenditures Acquisitions and divestitures HR management Keep low inventory in recession. PACCAR makes inventories smaller when it’s recessionary time Marketing & Pricing: When there’s healthy expansion, start to increase prices Mistake: whenever there’s budget cuts, they want to raise...
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...J.KAU: Islamic Econ., Vol. 9, pp. 55-65 (1417 A.H / 1997 A.D) Hamid Zangeneh and Ahmad Salam Central Banking in an Interest Free Banking System J.KAU: Islamic Economics, Vol. 5 (1993), pp. 25-35 Comments: RODNEY WILSON Professor of Economics Department of Economics University of Durham U.K. The article by Hamid Zangeneh and Ahmad Salam is a welcome departure in the Islamic finance literature, as relatively little has been written about the role of central banks in an Islamic financial system. The authors review the major functions of central banks, and then discuss how monetary tools need to be adapted in an Islamic economy, these including discount rates, open market operations, reserve ratios, refinancing ratios, credit controls, moral persuasion, profit sharing ratios and exchange rates. The authors cite an earlier paper by Mohammad Nejatullah Siddiqi who has probably given more consideration to the issues than anyone else. (1) One of Siddiqi's main concerns is the central bank's role as lender of the last resort, as it is ultimately responsible for safeguarding the interests of depositors, whether the system is conventional or Islamic, although arguably in an Islamic economy it is not so much a matter of consumer rights, but rather of moral responsibility to Muslim depositors who have entrusted their savings to an Islamic bank in good faith. Although the authors quote Mohammad Uzair when discussing the tools of central banking, (2) Sidjqi has looked at these...
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...Globalization and China’s Economic and Financial Development (Preliminary draft– not to be quoted 9/8/05) Gregory C. Chow To understand China’s economic reform and development since 1978 one may conveniently divide the topic into its domestic and international aspects even though the two are closely related. It is the purpose of this essay to examine the international aspects as China has taken part in the process of world economic globalization, a salient feature of world history today. The Chinese leader Deng Xiaoping who initiated and directed economic reform from a planned to a market economy understood the importance of globalization and adopted what he called an “open-door policy” as an essential part of the reform program. The term globalization refers to the crossing of national boundaries. It means the flow of goods, capital, information/technology and people across national borders. China practiced globalization in the Han dynasty (206BC-220AD) when trade took place between the Han Chinese and neighboring people in the North-west through the Silk Route. During the Tang dynasty (618-901) trade flourished and the Silk Route expanded as Chinese traded with the Romans. However, in the Qing Dynasty and in the period of the PRC up to Deng Xiaoping’s open-door policy China tried to close its doors and resisted globalization. I will survey the accomplishments of globalization for China’s...
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...An Essay on Fiscal Federalism Wallace E. Oates Journal of Economic Literature, Vol. 37, No. 3. (Sep., 1999), pp. 1120-1149. Stable URL: http://links.jstor.org/sici?sici=0022-0515%28199909%2937%3A3%3C1120%3AAEOFF%3E2.0.CO%3B2-A Journal of Economic Literature is currently published by American Economic Association. Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/journals/aea.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. For more information regarding JSTOR, please contact support@jstor.org. http://www.jstor.org Tue Apr 24 17:00:09 2007 Journal of Economic Literature Vol. XXXVZZ (September 1999) pp. 1120-1 149 An Essay on Fiscal Federalism 1. Introduction ISCAL DECENTRALIZATION is in vogue. Both in the industrialized and in the...
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...Blacklow* School of Economics and Finance, University of Tasmania, Private Bag 85, Hobart, TAS 7000 Paul.Blacklow@utas.edu.au *Presenting Author JEL Codes: I21, J23, C25 Keywords: Graduate Employment, Self Selection Bias, Sample Selection Bias Aaron Nicholas Department of Economics, Monash University, Wellington Road, Clayton, VIC 3800 Aaron.Nicholas@buseco.monash.edu.au ABSTRACT This paper examines the probability of a recent university graduate obtaining full-time employment by degree of study. It allows for degree choice to be endogenous (self-selection bias) and adjusts for those graduates not in the labour force who are not typically considered in graduate outcome studies (sample-selection bias). The self-selection problem is able to be identified by using a unique data set that combines data from the 2005 and 2006 Australian Graduate Destination Survey with data from the University of Tasmania’s (UTAS) student administration database, which includes students’ pre-tertiary school results. Degree choice is modelled using a Nested Logit, while labour force participation is modelled using a Probit. Using a ‘Heckit’ type methodology, the Inverse Mills Ratios (pseudo-residuals) from the Nested Logit and the modified Inverse Mills Ratios from the Probit are included in the final Probit model for Employment. Both correction terms are statistically significant at 5% in the employment probability equation. Allowing for self selection significantly reduces the probability of employment...
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...HIER Harvard Institute of Economic Research Discussion Paper Number 2097 Paternalism and Psychology by Edward L. Glaeser December 2005 HARVARD UNIVERSITY Cambridge, Massachusetts This paper can be downloaded without charge from: http://post.economics.harvard.edu/hier/2005papers/2005list.html The Social Science Research Network Electronic Paper Collection: http://ssrn.com/abstract=860865 Paternalism and Psychology Edward L. Glaeser† Does bounded rationality make paternalism more attractive? This Essay argues that errors will be larger when suppliers have stronger incentives or lower costs of persuasion and when consumers have weaker incentives to learn the truth. These comparative statics suggest that bounded rationality will often increase the costs of government decisionmaking relative to private decisionmaking, because consumers have better incentives to overcome errors than government decisionmakers, consumers have stronger incentives to choose well when they are purchasing than when they are voting and it is more costly to change the beliefs of millions of consumers than a handful of bureaucrats. As such, recognizing the limits of human cognition may strengthen the case for limited government. INTRODUCTION An increasingly large body of evidence documenting bounded rationality and non-standard preferences has led many scholars to question eco1 nomics’ traditional hostility towards paternalism. After all, if individuals have so many cognitive difficulties then...
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...11 Issues Chapter of Reporting, Disclosure and Financial Analysis Questions for Review and Discussion 1. The two main adjustment are likely to be the addition of capital assets and longterm obligations. 2. The main adjustments are likely to be: the addition of depreciation expense and gains or losses from the sale of capital assets and the deletion of amounts spent to acquire capital assets and the proceeds from the sale of capital assets the deletion of long-term debt proceeds and amounts spent to repay long-term debts and the addition of any gain or loss on the retirement of debt and the amortization of any debt premium or discount. 3. The key criterion is financial accountability the primary government either appoints a voting majority of the units governing body or a majority of the units governing body is composed of primary government officials and the primary government is able to impose its will upon the potential component unit or there is the potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary government. 4. Discrete presentation is when one or more component units are reported in separate columns, in addition to those pertaining to the primary government. Blending is when the component units transactions and balances are reported as if they were part of the primary government that is, the component units funds are accounted for just as they were funds of the primary government. Blending is...
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...ECON 125-HK2. Economics for Managers Exam http://homeworkfy.com/downloads/econ-125-hk2-economics-for-managers-exam/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) > TAKE ASSESSMENT: EXAM 1 Question 1 2 points Save Which of the following economic systems abolishes all private property? communism socialism fascism all of the above Question 2 2 points Save The profit motive is one characteristic of a command economy. True False Question 3 2 points Save In a market system, the government enforces laws ensuring that private enterprises and conditions of competition will prevail. True False Question 4 2 points Save The most common type of business in the United States is the corporation. True False Question 5 2 points Save Laissez-faire is a policy of no government intervention in the economic activities of individuals and businesses. True False Question 6 2 points Save In a partnership, each partner’s liability is limited to his or her contribution to the partnership. True False Question 7 2 points Save There are no government-regulated markets in the U.S. economy. True False Question 8 2 points Save Which of the following is not among the United States’ economic goals? ...
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...ECON 125 HK2 ECONOMICS FOR MANAGERS Exam Solutions https://hwguiders.com/downloads/econ-125-hk2-economics-for-managers-exam-solutions/ ECON 125 HK2 ECONOMICS FOR MANAGERS Exam Solutions Exam 1: Question 1 Which of the following economic systems abolishes all private property? communism socialism fascism all of the above Question 2 The profit motive is one characteristic of a command economy. True False Question 3 In a market system, the government enforces laws ensuring that private enterprises and conditions of competition will prevail. True False Question 4 The most common type of business in the United States is the corporation. True False Question 5 Laissez-faire is a policy of no government intervention in the economic activities of individuals and businesses. True False Question 6 In a partnership, each partner’s liability is limited to his or her contribution to the partnership. True False Question 7 There are no government-regulated markets in the U.S. economy. True False Question 8 Which of the following is not among the United States’ economic goals? full employment stable prices healthy economic growth equal distribution of income Question 9 Under the U.S. market system, land and capital goods are owned mainly by the federal government individuals and firms local governments state governments Question 10 The biggest disadvantage of a sole proprietorship is the...
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...BB456 Phone: 678-797-2656 KSU e-mail: mdoral@kennesaw.edu Office Hours MW 10:00am-12:30pm or by appointment. Required Textbook: Mankiw, Gregory N. Western/Cengage Learning, 2009. Principles of Economics, Fifth Edition, South- Course Description: Analysis of socioeconomic goals, money and credit systems, theories of national income, employment and economic growth. Course Prerequisites: ECON2100 and six (6) credit hours of MATH numbered 1101 or higher. Course Description: This course is an introduction to the formal study of macroeconomics. Macroeconomics involves the study of the economy as a whole. Topics that will be covered include national income determination, the general price level, interest rates, unemployment, and fiscal and monetary policies. The emphasis will be on genuine understanding of the material, and not on "memorization". (See last page of Syllabus for Course Learning Objectives.) Course Withdrawal Date and Policy: Last day to withdraw without academic penalty is Monday 03/03/2014. Students who wish to withdraw with a grade "W" must do so formally through the Registrar's Office on or before Monday 03/03/2014. Make-Up Exam Policy: No make-up exams will be administered during the semester. It is the student’s responsibility to check the course calendar and announcements in D2L. Attendance Policy: Attendance in online classes is determined not by physical attendance, but by your participation. Class success and enjoyment depends on your interaction online, including...
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...| Carmelia Bell | Portfolio | | Bachelors of Science in AccountingDeVry UniversityJune 2013 | | | | | Table of Contents * Personal Mission Statement * Elevator Speech * Education * DeVry Plan of Study * DeVry Course Description and Academic History * Resume * Reference List * Career Path Section Mission Statement My mission is to continue to drive for excellence throughout my life. I will ensure that I graduate from school with my Bachelors of Science in Accounting degree from DeVry University. My mission is to also enroll in Keller’s Graduate school to get my master in Business and Management. My goal is to work for a successful company in a management position to demonstrate my skills and help the company to drive for outstanding results. I am committed to becoming a successful manager in a retail store or corporate level. I am willing to go above and beyond to reach that goal. I am a driven, compassionate, and hardworking individual. My goal is to one day get marry and have a family. I will be loving and proactive in building and maintaining my relationships with my employees, family and friends, so that I may be considered a successful wife, mother, daughter, sister, aunt, friend, co-worker, and manager. Elevated Speech Hi my name is Carmelia Bell. I am a senior at DeVry. I’m graduating June 30 of this year. I have 4 years of an assistant manager experience. I’m currently working as a team lead at...
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...PERSONAL AND ORGANIZATIONAL DEVELOPMENT WORD COUNT : 2499 WORDS PAGE OF CONTENTS INTRODUCTION PAGE 3 PART 1 PAGE 4 – 8 PART 2 PAGE 9 – 13 CONCLUSION PAGE 14 REFERENCES PAGE 15 INTRODUCTION With high entry barriers to the Oil & Gas Industry, some people are fighting to maintain their position, while some people are trying to escalate the career ladder. After this exercise of reflective commentary, I will be able to clearly identify my weakness and my strong points. In the first section, I will be discussing about the employment market of the Oil & Gas Industry in Singapore, and my targeted position of a junior trader – middle distillates. The changes in Singapore labor market will be briefly discussed, and there will be several factors being brought to attention in order to clearly notify what are the changes of the labor market in Singapore in general. Next, a reflection will be done based on my current career path, and my choice of career advancement. I will be levying on various sources of input, from the seminar activities, assessments, and psychometric tests that has been carried out. Lastly, I will reflect on the improvements to be made for a smooth and successful career advancement in the future. PART 1 Singapore is one of the most sought after places to work in Asia. Over the years, Singapore has attracted millions of foreigners into the Singapore labor market. However, it has been...
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...The Relationship between Financial Markets and Economic Growth: Implications for Canada Research Study Prepared for the Wise Persons’ Committee Gordon Boissonneault Senior Economist, WPC Staff October 24, 2003 The Relationship between Financial Markets and Economic Growth: Implications for Canada Executive Summary The financial sector has experienced significant change over recent decades, driven by advances in information and communications technology and widespread reductions in international barriers to trade and investment. International integration is advancing rapidly, reflecting in part the development of global production chains and the rapid growth of emerging market economies. As a result of the forces of integration, international competition has become more fierce and firms are under increasing pressure to cut costs and differentiate their products to survive. Canada’s economy has numerous linkages beyond its borders, particularly with the United States. The future improvement of Canadians’ standard of living will depend in large part on foreign investment in Canada and the ability of Canadians to invest abroad. In this regard, a thriving financial sector will be a key component of our success. Canada has a small share of the global capital market. Thus, to be competitive, the Canadian capital market must be efficient and offer a low cost of capital. As much as possible, the policies and institutions that govern the Canadian financial...
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