Case study of Dr. Stephanie White Essay Example | Topics and Well Written Essays - 500 words

Case study of Dr. Stephanie White - Essay Example (Kahler, 2000) In the case of reducing cost of $ 94,000 without compromising on the operation or quality care of the organization, one has to study previous year costs and their impact on overall performance of Uptown Clinic. As Uptown Clinic is a small organization depending on the services provided for the mental health patients so one can reduce the cost by reducing human resources for general operations within the organization. In Uptown Clinic, the assistant to administrator and one of two secretaries should be fired so Uptown Clinic can reduce cost of their salaries that is $ 56000. Further there is not much need of security for Uptown Clinic so cost of securities charges can be saved that is $ 12000. Uptown Clinic can easily reduce further cost of $ 14000 by smart purchasing and utilization of supplies. Further Uptown Clinic should hire a social worker of less profile than the present one for outpatient mental health treatments in order to reduce cost of $12000.

Inflation and Government Economic Policies Essay Example for Free

Inflation and Government Economic Policies Essay Inflation is described as the process by which prices are continuously rising or the value of money continuously decreases (Consumer Price Index Frequently Asked Questions, 2013). As the definition explains, this is not something that would be desirable for the government or its citizens. For example, Germany during the 1920’s experienced a period of hyperinflation. Germans literally had to carry wheel barrels of money to buy groceries. The price of a loaf of bread rose from around 200 Marks to over 200,000,000,000 Marks. Inflation is measured in several ways including Consumer Price Index, Producer Price Index, Employment Cost Index, Gross Domestic Product Deflator, and several other methods (Consumer Price Index Frequently Asked Questions, 2013). Inflation can be caused when the demand of goods and services cannot be met. Since demand cannot be fulfilled, manufacturers can increase the price of goods, thus causing inflation. Inflation can also be caused when there is too much money in circulation. Money can lose its value if everyone has too much of it. In order to try to control inflation, the government can regulate fiscal policies. Employees’ wages can play a big role in inflation. If everyone is making a lot of money, then prices can increase. Lower incomes actually help governments avoid inflation. Another method of regulating/manipulating inflation is by controlling aggregate demand, the number of goods and services requested at the given price point. Aggregate demand can be altered by either imposing taxes or decreasing and restricting government spending. According to BLS.gov, CPI, or Consumer Price Index, is the means by which we measure change in prices urban consumers pay for goods and services in the market basket. This measures what consumers pay on a daily basis for goods and services. Since 2000, CPI has been increasing. CPI can change due to shifts in population or buying habits of consumers. If the economy is up, people will most likely spend more money, and inversely if the economy is  down, consumers will spend less. New trends in technology or even fads can also change CPI. If consumers are influenced by media on alternatives to goods and services that buy and use, this too causes changes in CPI. CPI directly impacts the economy because it is used to determine the amount of government assisted people can be given such as Medicaid benefits and Social Security Benefits. The graph below shows the changes over time since January 2000 to January 2014 (Consumer Price Index Chained Consumer Price Index, 2014). CPI from January 2000-January 2014 PPI, or Producer Price Index, measures the changed by which producers sell their products (Producer Price Indexes, n.d.). This measures inflation at the beginning stages, ground level, from the manufacturers’ standpoint. Since 2000, PPI like CPI has also increased. Both of these measurements go hand in hand, as the price the manufacturers’/producers charge for their goods and services increases, the amount consumers are paying for these said items also increases. The difference between the two however can include taxes imposed on both producers and/or consumers alike. PPI can be used to determine at what point prices need to escalate. The following graph shows changes in PPI since 2000 (Producer Price Index-Commodities, 2014). PPI from the Year 2000 to the Year 2014 Consumer Expenditure Survey, CE, is defined by BLS.gov as the â€Å"program consists of two surveys, the Quarterly Interview Survey and the Diary Survey, that provide information on the buying habits of American consumers, including data on their expenditures, income, and consumer unit (families and single consumers) characteristics. The survey data are collected for the Bureau of Labor Statistics by the U.S. Census Bureau†. CE has also been increasing since 2000 to present day. CE is pivotal to government fiscal policies because it is the only measurements that shows us not only the amount of money consumers earn and spend, but also consumers spending habits  and trends that we observe. CE is used by policymakers to study the effects of their policies on economic groups and by the Census Bureau to determine Supplemental Poverty Measurements, Like CPI, new technology greatly impacts CE. In the 1980’s, spending on computers and hardware were not as prominent as they are now. According to BLS.gov, changes in internet services and cellphones were also not as prominent in the 1980’s (The Consumer Expenditure Survey—30 Years as a Continuous Survey, 2010). Increases in income and the amount of money consumers spend change CE. The graph below shows these changes (Consumer Expenditure Survey, 2014). Consumer Expenditure Survey 2000-2012 Throughout the last fourteen years, the different units of measurement use to determine inflation have all increased. As the standard and cost of living increases, and as minimum wage continues to increase, all of these units will also increase. This has helped to prevent inflation and hyperinflation. If the prices of goods increase while the income people are bringing in stays the same, this would lead to inflation. As income decreased in 2008-2009, the CPI, PPI, and CE also decreased. The more money we are circulating, the more producers’ will be able to increase the price of goods and services, and the more consumers are going to pay for them. This cycle will continue to grow exponentially. As I stated earlier, there are different methods and fiscal policies governments can implement to avoid inflation. Like Keynesian economics, some of which are based around limiting and controlling government spending. References Consumer Expenditure Survey. Retrieved August 20, 2014 from http://www.bls.gov/cex/ Consumer Expenditure Survey. Retrieved August 20, 2014 from http://data.bls.gov/pdq/SurveyOutputServlet The Consumer Expenditure Survey—30 Years as a Continuous Survey. Retrieved August 20, 2014 from http://www.bls.gov/cex/ceturnsthirty.htm Consumer Price Index Chained Consumer Price Index. (August 19, 2014). Retrieved August 19, 2014 from http://data.bls.gov/pdq/SurveyOutputServlet Consumer Price Index Frequently Asked Questions. (August 15, 2013). Retrieved August 19, 2014, from http://www.bls.gov/cpi/cpifaq.htm#Question_1 Producer Price Index-Commodities. (August 19, 2014). Retrieved August 19, 2014 from http://data.bls.gov/pdq/SurveyOutputServlet Producer Price Indexes. Retrieved August 19, 2014 from http://www.bls.gov/ppi/

South African Natural Resources Economics Essay

South African Natural Resources Economics Essay The South African natural resources mining industry is long recognized as the most important sector and in spite of the fact that it is the sixth largest provider to total Gross Domestic Product (GDP) at currently; and is still regarded as a foundation stone of the economy and the chief employer. The mining industry is a well-established and resourceful sector of South Africas economy and has a high degree of technical expertise as well as the ability to assemble capital for new development. The immensity of the known mineral resources and reserves were revealed by means of conservative exploration methods, still significant potential is expected for the unearthing of other top-notch deposits in areas still to be thoroughly explored with contemporary exploration technology. South Africa is a leading producer and supplier of a range of minerals and produces approximately 53 different minerals from 1548 mines and quarries as well as exports to approximately 80 countries. As a chief mining country, South Africas strengths comprise a soaring level of technical expertise and research and development activities. South Africas Mineral Resources can be classified into: Precious Metals and Minerals Energy Minerals Non- Ferrous Metals and Minerals Ferrous Metals and Minerals Industrial Minerals PRECIOUS METALS MINERALS INTRODUCTION South Africa is the worlds largest producer of platinum-group metals (PGMs) and the fifth largest producer of gold. The country is also a major producer of diamonds, while silver is produced as a by-product from gold, lead-zinc, copper and PGM mines. 1.1 DIAMOND South Africas 2009 diamond production was less than half of 2008 production, falling by 52.3 percent to 6.1 Mat. Diamonds sourced from kimberlitic contributed 91.8 percent to the countrys total production, while alluvial and marine diamonds contributed 4.8 and 3.4 percent, respectively. Production from De Beers Consolidated Mines dominated the countrys total output with a contribution of approximately 85 percent, despite a 49 percent reduction in carats recovered in 2009. 1.2 GOLD South Africas gold industry has been the principal focus of black economic empowerment, resulting in a changing ownership structure. With the increase in the price of gold and the worldwide economic slowdown, investment in gold has increased, with investors seeking safe haven investments. Demand for gold also increased in 2009, particularly from India and China. 1.3 PLATINUM GROUP METALS The PGMs include platinum, palladium, gold, rhodium, osmium, rhenium, iridium and ruthenium. Platinum, palladium and rhodium are produced in substantial quantities. South Africa is the largest producer of platinum in the world and holds a large percentage of global reserves. 1.4 SILVER Silver is produced in South Africa as a by-product of gold, lead-zinc, copper and PGM mines. South Africa does not have a primary silver mine and the metal is only produced as a by-product of other minerals, most notably gold. 2. ENERGY MINERALS INTRODUCTION South Africa is well endowed with both coal and uranium reserves and is ranked amongst the top ten in the world, but has relatively small known reserves of oil and gas. South Africa is the 7th and 11th largest world producer of coal and uranium, respectively. 2.1 COAL According to the 2010 BP Statistical Energy Survey, South Africa had end 2009 coal reserves of 30408 million tones, 3.68% of the world total. South Africa has Africas only significant coal reserves. 2.2 OIL NATURAL GAS According to the 2012 BP Statistical Energy Survey, South Africa consumed an average of 547.25 thousand barrels a day of oil in 2011, 0.64% of the world total. South Africa is the leading economic power in Africa as well as a key player in the African oil industry. 2.3 URANIUM The AngloGold Ashanti mine is the major producer of uranium as a by-product of gold in South Africa from three mines, namely, Great Noligwa, Moab Khotsong and Kopanang. Nuclear Fuel Corporation (Nucor) exports all uranium oxide (U3O8), which is processed through calcinations of uranium slurry. 3. NON-FERROUS METALS AND MINERALS INTRODUCTION South Africas non-ferrous minerals resources are rated amongst the top 10 countries in the world. The country is well endowed with titanium and zirconium resources, which is economically mineralized in heavy mineral sands in Kwan-Zulu Natal as well as the Eastern and Western Cape. 3.1 BAUXITE South Africa does not mine any bauxite. It does, however, have an active aluminum smelting industry. The Hillside aluminum smelter sited in Richards Bay is one of the worlds most superior and efficient AP30 smelters and produces T-bars and primary aluminum ingots. 3.2 ANTIMONY South Africa is a major global antimony producer, producing 3 000 t in 2009. The largest antimony producer in South Africa is Consolidated Murchison, a subsidiary of Metorex Limited. 3.3 NICKEL COBALT Most of South Africas nickel and cobalt are produced as by product of platinum mining activities on the Bushed Igneous Complex. Nickel mining is done by means of an underground shaft and also by open-pit mining. Oxidized chromatist is also mined as division of the pre-strip of the future open pits. 3.4 COPPER Parabola, South Africas leading copper producer, is located 360km north east of Pretoria, close to the Kruger National Park. Parabola is also a major source of vermiculite and baddeleyite (zirconium oxide). The majority shareholders in Parabola Mining Co. are Rio Tinto plc (57.7%) and Anglo-American. 3.5 ZINC LEAD Exira owns Zinced, an electrolytic zinc refinery with the capacity to produce 110ktpa of zinc and 170 kappa of sulphuric acid. The refinery, located 50 km east of Johannesburg in Springs, processes some 240ktpa of zinc concentrate. 3.6 TITANIUM ZIRCONIUM South Africa is Africas main producer, with 30% of world production, second after Australia. Limonite, retiled and leucoxene are the primary ore minerals of titanium and are usually found in localized beach placer deposits, hence the term Heavy Mineral Sands. Anglo American and BHP Billiton are the main producers from their operation on both coasts of South Africa. 4. FERROUS METALS AND MINERALS INTRODUCTION South Africa is the worlds largest producer of chromium and vanadium ores and a leading supplier of their alloys. It is also a major producer of iron and manganese ores, an important supplier of manganese alloys and a small producer of ferrosilicon and silicon metal. 4.1 CHROMIUM African chrome is produced from the Bushed Complex in South Africa, which has 80% of global reserves and produces approximately 50% of global chromate. Nearly all of Zimbabwes chrome production is sourced from the Great Dyke and consumed for local ferrochrome plants. 4.2 IRON ORE According to the USGS, South Africa produced 53 million metric tons of iron ore in 2009, making it the worlds 7th largest producer. It also estimated, in 2009, that South Africa has 1000 million tons of crude ore reserves and 650 million metric tons of iron content reserves. 4.3 MANGANESE South Africa currently accounts for about 75% of the worlds identified manganese resources. These mostly occur near Hoatzin in the Northern Cape Province. According to the USGS, reserves were estimated at 15 billion tons in 2011. South Africa was the worlds largest producer of manganese in 2011, producing 3.4 million tons. 4.4 VANADIUM Pure vanadium (V) is a bright white metal, and is soft and ductile. It is has a good corrosion resistance to a variety of alkalis and acids, but oxidizes readily above 660 C. About 85% of vanadium is used as ferrovanadium or as a steel additive. 5. INDUSTRIAL MINERALS INTRODUCTION Industrial minerals are generally high volume, low value commodities that will usually bear minimum costs of underground exploitation since most occur near surface. As a result, most industrial minerals require less complicated mining techniques and, therefore, present opportunities for small-scale mining development. SOUTH AFRICAN CEMENT INDUSTRY The cement production process Cement is a synthetic grind that, when assorted with water and aggregates, produces concrete. The cement-making process can be divided into a few basic steps: Mining limestone Proportioning and grinding limestone with other à ¢Ã¢â€š ¬Ã… ¾correctiveà ¢Ã¢â€š ¬Ã… ¸ raw materials Manufacturing clinker in a kiln at temperatures of 1,450ËÅ ¡C Grinding clinker and extra minerals to produce the powder known as cement Distributing cement to clients Southern Africa Cement Industry: Overview A resource-rich country, characterized by vigorous GDP growth and a flourishing construction market, South Africa has all the markings of a sensation story for cement producers. With numerous capacity extension projects being planned or recently concluded, South African cement companies are gearing up for a constant expansion of the cement market. Consumption South Africa has enjoyed a stable increase in its cement utilization in recent years and the 2004-2006 periods proved no exception. In 2004, conjugal cement demand stood at 10.69Mt, rising by 11.6 per cent to 11.934Mt the year after. The strongest regional growth in 2006 was recorded in the Western Cape which saw its cement market inflate by almost 20 per cent. Other markets to trace double-digit growth figures were Mpumalanga (16.8 per cent), Kwazulu-Natal (14.7 per cent), Gauteng (13.4 per cent) and Free State (10.5 per cent). Market movement The market shares of the four players on the basis of production capacity are as follows: PPC cement leads the pack at 43%, followed by Afrisam at 24% and Lafarge at 23%. Cimpor accounts for 10% of overall production capacity. When, or if, all the new pipeline capacity is in production, PPCs production market share is expected to decline to 41%, Afrisam to 19%, Lafarge to 18%, while Sephaku will account for 10% of overall production capacity, and Conticem an anticipated 3%. Challenges faced by the Cement Industry Soaring fuel prices and deceitful road and railway facilities facade a serious difficulty when it comes to the transport of cement. Mounting electricity and raw material costs are also totaling to production costs. Skills deficiency: Worldwide antagonism for skills. Accessible infrastructure besieged to get by with growth. Equipment and civil contract lead times increasing. Resistance in SA to make use of of kilns to set out waste Looking to the future of the cement sector in SA South Africa is in the process of restructuring its future. Structural improvements are taking place in its economy, infrastructure improvements have enlarged the nations economic capacity and will prop up, not obstruct future economic growth. A key move towards opening the construction industry to increasing opportunities is the Department of Housings invitation in March 2010, to invite suppliers of substitute building methods to team up later this year. The Major Cement Producing Players in South Africa 1. PRETORIA PORTLAND CEMENT: PPC is the principal supplier of cement in southern Africa through eight cement manufacturing facilities and three milling depots in South Africa, Botswana and Zimbabwe that can produce around eight million tons of cement products each year. 2. LAFARGE CEMENT ZIMBABWE: Lafarge Cement Zimbabwe Limited, previously Circle Cement Limited, is a Zimbabwe-based cement manufacturer and also a distributor of cement and related products. Lafarge has a production capacity of 450,000 MT per year, 120,000 MT of which is exported. 3. LAFARGE ZAMBIA: Lafarge Cement Zambia manufactures and provides cement for its local market and also exports to bordering DRC and Burundi.

Analysis of Curiosity by Alastair Reid Essay -- Curiosity Poem Essays

"More likely the cat was just unlucky" (l. 1-2). In this narrative poem ?Curiosity?, by Alastair Reid, he gives a dissertation on cats and dogs. Cats are adventurous and dogs do not take chances. Reid uses symbols Have you ever heard the saying ?curiosity killed the cat? (l. 1)? and allegory to disclose the theme that life can be more fulfilling if one opens the door to new and different prospects. In ?Curiosity?, Reid describes the lives of cats and dogs as though they are everyday people. Cats, being the inquisitive ones, are willing to lead a life of risk-taking without weighing the consequences. ?Dogs say cats love too much, are irresponsible, are changeable, marry too many wives, desert their children, chill all dinner tables with tales of their nine lives.? (ll. 27-30). Cats feel...

Formulate and implementation of research question following agreed procedures and to specifications Essay

How can Ferrero attract more customers to its brand therefore increasing its market share in Shanghai? Reason to choose this working titleï ¼Å¡ China’s economic development and social openness is growing, and larger imports of goods from abroad. Rising income levels and growing interest for western products have been driving chocolate confectionery demand in the last decades. With double-digit growth year after year, the market offers huge opportunities for development but also requires foreign companies the implementation of consistent marketing strategies and proper targeting to meet local consumers buying patterns. As for Ferrero, there are already many chocolate brands in China market, such as Dove and Mï ¼â€ M. So, it is really important to ensure the present strategy of Ferrero is appropriate for China market, and the methods of how to attract more customers. In order to appeal to more customers by enhancing Ferrero’s market sale in China becomes the mainly concept in my research. Background of Ferrero History of Ferrero In 1946, Pietro Ferrero invented a cream of hazelnuts and cocoa, derived from Gianduja and to be spread on bread, and called it Pasta Gianduja. Ferrero created the new company to produce and market it. Later on his sons became joint chief executives. Michele Ferrero modified his father’s recipe to produce Nutella, which was first sold in 1964 and has become popular around the world. The company places great emphasis on secrecy, reportedly to guard against industrial espionage. It has never held a press conference and does not allow media visits to its plants. Ferrero’s products are made with machines designed by an in-house engineering department. Products In addition to Nutella, Ferrero produces many other products, including Ferrero Rocher, Pocket Coffee, Mon Chà ©ri, Giotto, Confetteria Raffaello coconut cream candy, Hanuta chocolate hazelnut-filled wafers, the Kinder line of products, as well as the Tic Tac breath mints. Ferrero also produces the Kinder product series and The company received an innovation award for the frozen products called â€Å"Gran Soleil† in March 2011. The main background and related research content Ferrero is an Italian manufacturer of chocolate and other confectionery products. It was founded by confectioner Pietro Ferrero in 1946 in Alba, Piedmont, Italy. Reputation Institute’s 2009 survey ranks Ferrero as the most reputable company in the world. Ferrero is a private company owned by the Ferrero family and has been described as â€Å"one of the world’s most secretive firms†. The Ferrero Group worldwide – now headed by CEO Giovanni Ferrero – includes 38 trading companies, 18 factories and approximately 21,500 employees. Ferrero International SA’s headquarters is in Luxembourg. Its German factory is the largest of all and Pasquale Giorgio is its current CEO. High quality, crafted precision, product freshness, careful selection of the finest raw materials, respect and consideration for customers: these are Ferrero’s â€Å"key words† and values which have helped make its confectionery well-known and loved by millions of cons umers all over the world. And I will focus on how to attract consumers through the advantages of products for Ferrero in the competitive market. Purpose The aim of this essay is to conduct a market research to explore the opportunities that Ferrero can still exploit in the chocolate market in China. Moreover, the objective of my tentative research will be listed as follows. Theories and marketing concepts are used to analysis the Chinese consuming behavior, which plays a very important role in shaping the market of chocolate. Environment has to offer in relation to the features and the objectives of the company analyzed, the research focuses on the marketing strategy adopted by Ferrero in China. The evolution of its marketing approach is studied into details, in order to highlight what are the key success factors for Ferrero. Ferrero’s marketing tools, data collected from  the survey and a case study are applied to develop viable marketing strategies that aim to take full advantage of a market that offers considerable resources still unexplored by the company. Findings reveal that the possibilities for Ferrero to expand in t he market of chocolate for self-consumption in China are enormous. According to these, this essay is going to analysis the SWOT and PEST of Ferrero. And find out how Ferrero takes into consideration local consumers’ needs and wants in the formation of the marketing mix of its products. Scope Ferrero is an international company, and Corporation engages in a diverse range of businesses, so I just research the Ferrero’s market sale in China chocolate market. I will find out a theoretical review regarding the implementation of a complete and sound market analysis, executed through the application of theoretical models, information and data collected from appropriate and academic research and surveys conducted on the field. Besides, I am going to gather information from outside through questionnaire format to investigate local customers in two weeks. Not only hand out questionnaires to the public in the open, but also distribute them by e-mail or website. And I will interview some marketing personnel who worked in hypermarkets to perfect the information resources. Theoretical framework For the part of theoretical framework, SWOT and PEST will full-scale propose about advantage and disadvantage of Ferrero’s market sale in China. a) SWOT S: 1. Brand advantage: being the first company to introduce chocolate in the country soon after its reopening to the outside world, Ferrero succeeded in establishing its chocolate as a luxurious and exotic product. 2. Marketing benefit: do not have joint venture enterprises and manufacturers in China. Make the decision more flexible with fewer risks. 3. Source of origin in Europe: the country of origin is Italy. 4. Technological superiority: possesses of more than 60 years’ experience and advanced craft technology of making chocolate. 5. Quality advantage: regardless of cost, has always been sticking to the best natural raw material, including hazelnut, cocoa, and  coffee beans. W: 1. Sales disadvantage: there is no production factory in China, so it carries many time-consuming in the transport. 2. The price is too expensive. 3. Without some sort of specific policies: compared with China’s domestic brands of chocolate, Ferrero lack of government policies to protect its market sale. 4. The lack of brand management: copies are full of Chinese market. For example, intellectual property rights cases of Montresor (zhangjiagang) food co. Ltd. O: 1. The chocolate market in China has great development potential: Rising income levels and growing interest for western products have been driving chocolate confectionery demand in the last decades, the China chocolate market offers huge opportunities for development. 2. For competitors: for example, Leconte did not set up the premium brand image. And it is a opportunity for Ferrero. T: There are too much competitors in the chocolate high-end market; Ferrero has only a limited presence in China’s marketplace, which is 2.32%. b) PEST Political: China’s entry into the WTO, international trade and further strengthening of internal and external communication become more and more. Also it is the main reason that Ferrero can enter the Chinese market. Italy is in the European Union: In recent years, China trades more with the EU than any other partner. The products of Ferrero certified by SGS, food safety certification, IOS and GMP Economic: There is an expanding market in China for chocolate Cost-conscious Increasing of average Chinese income Social-cultural: Chinese customers become more health conscious Chocolate shows how people’s physical and cultural lives are changing Have been retained by Ferrero loyalty Technology: Strengthen the development of new tastes Continuous improvement in terms of chocolate preservation Growth of internet use to increase demand for online and mobile phone shopping Conclusion (size 14) (Insert conclusion text here – size 12) Recommendations (size 14) (Insert recommendations here in BULLET POINT FORMAT – size 12) List of references – Harvard References (size 16) (List references here in Harvard format – size 12) (If you are having problems with referencing – see your lecturer for guidance)

Free Essays on Computer Techonology In The College Classrooms

The use of computer technology is an ever rising trend in today’s colleges. Even though computers have been in classrooms for decades, there were initially limited to specific times and practices. College professors from all over the country have jumped on the bandwagon of computer technology within classroom environments. College professors are surrounded by multi-facets of computer diversity concerning college. Instant messaging and chatting, distance learning, and video conferencing are among the trends of diversity surrounding teaching tactics employed by college professors. Instant messaging and chatting has become an increasingly popular tool for college professors. They can allow students to Instant message questions to the teacher’s assistant during lecture. This can allow students to ask for clarification without the embarrassment of asking in front of the entire class. Another example used by college professors are, the used of chatting during lecture. Students are allowed to chat between each other during the lecture by explaining points that are put out by the professor. Video conferencing is another useful tool for college professors to employ. Professors can lecture students from the privacy of their own home. Professors and students are also able to visually see each other. In addition, the professor and the students are able to talk to each other as if in an actual classroom environment. Distance learning has become an inexpensive way to teach students for institutions. College professors are able to teach students from all over the country all from the privacy of their own home. Moreover, students are able to participate in distance learning from the privacy of their homes. Distance learning is an inexpensive way to handle the increased need for remedial education.... Free Essays on Computer Techonology In The College Classrooms Free Essays on Computer Techonology In The College Classrooms The use of computer technology is an ever rising trend in today’s colleges. Even though computers have been in classrooms for decades, there were initially limited to specific times and practices. College professors from all over the country have jumped on the bandwagon of computer technology within classroom environments. College professors are surrounded by multi-facets of computer diversity concerning college. Instant messaging and chatting, distance learning, and video conferencing are among the trends of diversity surrounding teaching tactics employed by college professors. Instant messaging and chatting has become an increasingly popular tool for college professors. They can allow students to Instant message questions to the teacher’s assistant during lecture. This can allow students to ask for clarification without the embarrassment of asking in front of the entire class. Another example used by college professors are, the used of chatting during lecture. Students are allowed to chat between each other during the lecture by explaining points that are put out by the professor. Video conferencing is another useful tool for college professors to employ. Professors can lecture students from the privacy of their own home. Professors and students are also able to visually see each other. In addition, the professor and the students are able to talk to each other as if in an actual classroom environment. Distance learning has become an inexpensive way to teach students for institutions. College professors are able to teach students from all over the country all from the privacy of their own home. Moreover, students are able to participate in distance learning from the privacy of their homes. Distance learning is an inexpensive way to handle the increased need for remedial education....

lab report on essays

lab report on essays Objective: To detect the amount of particular matter collected from the smoker's end of a cigarette and the amount of second hand smoke released Materials and Methods/Procedures: Two each of a 250 ml filter flask, a piece of filter paper, a 1-hole rubber stopper, glass tubing, a glass funnel and rubber tubing were assembled as required, and the filter flask was attached to a water aspirator. The filter papers were removed, weighed to the nearest 0.001 g, and replaced on the apparatus. A non-filtered cigarette was inserted into the funnel, which was then clamped pointing up. A second funnel was clamped approximately a half inch above the cigarette funnel in order to collect the second hand smoke in the room, and enough space was allowed between the funnels to allow air and catch all of the smoke. The water aspirators were turned on, the cigarette was lit, and the aspirators were adjusted so that the cigarette burned over a period of 3-5 minutes. After the cigarette burned down to the last centimeter, the aspirators were turned off, the cigarette was removed and the filter papers were removed and weighed. The initial weight of the filter paper was subtracted from the final weight. The solids collected from the second hand smoke funnel were divided by the solids collected for the smoker's funnel, and multiplied by 100 to obtain the percent of solids in room smoke. The procedure was repeated with a filtered cigarette and the Results: In the non-filtered cigarette experiment, the initial filter paper weight of the smoker's flask was .223g, while the paper of the room flask weighed .234g. After collecting solids, the weight of the smoker's flask paper was .231g and the room flask paper weighed .241g. The weight of the solids collected were: smoker's flask-.008g, and room flask-.007g. The percentage between room solid smoke and smoker's smoke wa ...

Free Essays on Omelas

The Dystopia of Omelas â€Å"The Ones Who Walk Away from Omelas† is a short story by Ursula K. Le Guin. Omelas is a place where joy and leisure reign, where there are few rules, no kings or slaves, and the citizens are safe and happy. All citizens save one; a child imprisoned in a small room in a basement. The child has no contact with anyone except for the few who are brought to see or feed the child. The citizens’ joy rest entirely on the fact this child suffers. Le Guin uses irony to show a utopian society can not exist. She portrays this through a naà ¯ve narrator, a child in misery, and the fact Omelas no longer exists. The narrator thinks Omelas is a great society. She describes it as joyous. The narrator states no â€Å"drooz† is necessary; the people celebrate a victory of life. She brags how happy the people of Omelas are, how the city is filled with â€Å"grave master workmen, quiet, merry women [†¦] chatting as they walked [†¦] people [†¦] dancing [†¦and children’s] high calls rising like the swallows’ crossing flights over the music and singing† (268). The narrator believes Omelas is a city where everyone wants to live. She is inclined to â€Å"think that people from towns up and down the coast have been coming in to Omelas† (269) to join the joyous occasions. The innocent narrator knows this is all possible due to the child’s suffering. She explains the child must be there for the towns’ happiness, â€Å"the beauty of their city, the tenderness of their friendships, the health of their children, the wisdom of their scholars, the skill of their makers, even the abundance of their harvest and the kindly weathers of their skies depend wholly on this child’s abominable misery† (271). She sees nothing wrong with making a child suffer for the greater good of the community. She attempts to justify his misery for the sake of the perfect society. She does not understand a utopian society strives for t... Free Essays on Omelas Free Essays on Omelas The Dystopia of Omelas â€Å"The Ones Who Walk Away from Omelas† is a short story by Ursula K. Le Guin. Omelas is a place where joy and leisure reign, where there are few rules, no kings or slaves, and the citizens are safe and happy. All citizens save one; a child imprisoned in a small room in a basement. The child has no contact with anyone except for the few who are brought to see or feed the child. The citizens’ joy rest entirely on the fact this child suffers. Le Guin uses irony to show a utopian society can not exist. She portrays this through a naà ¯ve narrator, a child in misery, and the fact Omelas no longer exists. The narrator thinks Omelas is a great society. She describes it as joyous. The narrator states no â€Å"drooz† is necessary; the people celebrate a victory of life. She brags how happy the people of Omelas are, how the city is filled with â€Å"grave master workmen, quiet, merry women [†¦] chatting as they walked [†¦] people [†¦] dancing [†¦and children’s] high calls rising like the swallows’ crossing flights over the music and singing† (268). The narrator believes Omelas is a city where everyone wants to live. She is inclined to â€Å"think that people from towns up and down the coast have been coming in to Omelas† (269) to join the joyous occasions. The innocent narrator knows this is all possible due to the child’s suffering. She explains the child must be there for the towns’ happiness, â€Å"the beauty of their city, the tenderness of their friendships, the health of their children, the wisdom of their scholars, the skill of their makers, even the abundance of their harvest and the kindly weathers of their skies depend wholly on this child’s abominable misery† (271). She sees nothing wrong with making a child suffer for the greater good of the community. She attempts to justify his misery for the sake of the perfect society. She does not understand a utopian society strives for t...

Response Paper Essay Example | Topics and Well Written Essays - 500 words

Response Paper - Essay Example The novel played on emotions of horror, awe and trepidation in order to elicit strong emotions particularly against the scientific rationalization of nature. Indeed, Frankenstein, is often considered as a work that initiated the dark visions of the cruelty and barbarity of the scientific endeavors by megalomaniacs wishing to control the world rather than as a tool for the spread of Enlightenment ideas. The setting and time further highlighted the Romantic character of the Frankenstein. The story happened in the eighteenth century, a time wherein political, social and scientific norms required resistance. In addition, the setting: the Swiss Alps and the cold regions of England and Scotland serve to tell us that these desolate places are where the monsters are appropriately exiled. It also underscored the sublime and untamed character of nature, which, for its part, highlighted the scientific atrocities committed by humans against it. Through the setting, there was an interfusion of elemental contraries that better demonstrate Shelley’s objectives. One of the most important themes that I found in the novel is that of the concept of monstrosity. Although Frankenstein is the most obvious example of what a monster is, he was in fact less of a monster than his creator. His hideousness hides a compassionate creature and his lack of companionship deeply troubled him. This was summed up in the line: â€Å"I, the miserable and the abandoned, am an abortion, to be spurned at, and kicked, and trampled on.† (Shelley, p. 188) Victor, his creator, on the other hand, displays a more intense monstrosity in his ambition, secrecy and selfishness, which led him to murder members of his own family. It is, however, unnoticeable because such monstrosity is hidden in his humanity. These two characters served two represent varying concepts that permeate in the literary world.

POLITICAL DISENGAGEMENT Essay Example | Topics and Well Written Essays - 1750 words

POLITICAL DISENGAGEMENT - Essay Example Active citizenship is promoted and understood by vitally examining the roles of citizens and how they perceive it, how the sense of belonging is developed and ownership in their social communities, and how this role is subjectively experienced. It is essentially important to investigate the many diverse groups, especially marginalized crowds that risk being politically disengaged due to gender, age or ethnic belonging. This of course is if we want to develop policies that are effective and sanctions that are levelheaded. In order to achieve democracy, a reconfiguration of participation, diversity, pluralism and diversity are essential. Citizenship could also be expanded by analyzing political participation among relegated groups (Rollenhagen, 1982). This will substantially contribute to policy and scholarly debates vis-a -vis deficit in democracy. Voter turnout has been a major problem in the United Kingdom. It has been on a decline while public disengagement from political processes in general has been influenced largely by a stretch of aspects. Factors as First-Past-The-Post can be linked to this disengagement. Parliaments increasingly fail to reflect on voting patterns of the people, hence many voters are literally left disenfranchised. Their electorate choices remain unrepresented or grossly under represented (Pollard et al 2009). Intangible factors that influence the civilian minds are at times immeasurable. An example is, the large number of people in the United Kingdom that do not comprehend the functionality of the country’s political system, thus it becomes difficult for an average citizen to appreciate what the parliament does or what the elected members engage in.

Business Operations Essay Example | Topics and Well Written Essays - 2250 words

Business Operations - Essay Example The essay "Business Operations" talks about the businesses operations in general by the example of Brazelia Med Spa company. The paper also analyzes what skills the effective manager should possess. Brazelia Med Spa is a B2C (Business to Customer) business with products and services ranging from medical, Intravenous nutrition, medical aesthetic, massage therapy, weight management, aesthetic, body care, chronic pain sports injury, and labs. There are also a number of procedures conducted in this institution such as intravenous nutrition therapy, Botox/Dysport and dermal fillers, weight management, and hormone replacement therapy. There are other Spas in Florida that compete with Brazelia in offering these services. Brazelia is a for-profit institution that has been open to the public since the year 2007 and hence has a strong customer base. This institution's mission is "to bring family's health to an optimal and harmonious balance". During my internship, I worked at the reception, insurance department, and financial department. My roles and responsibilities included organizing patients' applications alphabetically, filling out patients' information such as name, cell number, date of birth, and email address in a sheet, and putting all the important patients' details in the system. It was also my duty to ensure that all patients' confirmed their appointments. And it is worth noting that managers face many challenges blending knowledge, skills, ambitions, and expertise of a diverse group of employees.

Encountaring DAMIEN HIRST Essay Example | Topics and Well Written Essays - 1000 words

Encountaring DAMIEN HIRST - Essay Example This group of artists has been very controversial around the world, but especially in England where they came to prominence in the early 1990s. Almost all of them attended Goldsmiths College in London and were bought in the early stages of their career by the rich collector Charles Saatchi. Tracey Emin is a good example. Her most famous installation piece is called The Bed and takes the form of a double bed around which are many personal objects from her life. Another pair of London conceptual artists are the Chapman brothers, Jake and Dinos, who focus a lot of attention on torture and suffering in their work, going so far as to cast life size sculptures based on images from Goya’s Disasters of War. These artists all have in common the desire to shock and sensationalize and tackle subjects that are rarely considered to be art. The critic Matthew Collings had this to say about these London-based conceptual artists: Nobody can quite sum up what they stand for. The advance public ity of Brilliant! presents them as cheeky cockneys and punk rockers oppressed by the Thatcher junta, dodging IRA bombs, living in squats, and making rough and ready art that screams with rage and isn't intended for pristine white gallery space, but for rough and ready warehouse spaces in London's cockney East End. But no conceptual artist has been as controversial as the London artist Damien Hirst, who was born in 1965. In the beginning, while still a student at Goldsmiths, he helped to organize and exhibit art by other London YBAs.

Personal Development & Ethics Assignment Example | Topics and Well Written Essays - 2000 words

Personal Development & Ethics - Assignment Example Nature of the Business and Services Being an electrical engineer I would like to start a business which is suited to my educational background. I plan to offer consultancy services in electrical engineering to various industries and manufacturing organizations. The various services will include the maintenance and overhauling of the electrical equipments in the manufacturing and industrial plants. The company will also offer design services for the development of small electrical equipments and parts. b. Knowledge, Skills and Attitude To run a business which is completely based on the technical expertise of the individuals involved in the organization good technical knowledge of things is very important. As I plan to start a business which will offer electrical engineering consultancy services to various organizations and industries I must have a grip on the electrical engineering knowledge with regards to the industries and manufacturing plant operation. For the development of such knowledge I should take the subjects which are related to the automation and control of the manufacturing plants in various different industries. I should also develop knowledge of electrical energy supply to various industrial equipments. ... Moreover in order to establish a separate business I will also need a detailed knowledge of managerial methodologies in order to run the affairs of an organization and for this I should opt for engineering management and planning courses during my undergrad program. An extensive knowledge of managerial and organizational strategies which include the awareness of ideal organizational structure, organizational culture, teamworking strategies is mandatory. Furthermore in order to run such a business which offers electrical engineering consultancy services to various diverse industries and manufacturing units I should develop the skills like the electrical operation of the plant and equipment in industry. Such skills can only be developed through experience and by working on the industrial equipment. For this I will have to do internships at various industries in order to understand the working of the plant and equipment. I can also work in the electrical maintenance department of any or ganization in order to develop these skills before starting my own business. For running a successful business a positive attitude is obligatory for excellence. Being the head of the organization I must develop an attitude which is best suited for leaders and should adopt leadership tendencies. The success of the organization largely depends of the strength of the leader to lead by example, to carry forward his team with himself as a single unit and to implement high moral and ethical values in the organization. I will also have to adopt a flexible but controlled attitude towards new and innovative ideas. My attitude should be motivating and encouraging towards the employees

Global finacial crisis Research Paper Example | Topics and Well Written Essays - 2500 words

Global finacial crisis - Research Paper Example Liquidity rate is the process of transforming solid assets into actual money. It is an indication of insufficient flow of finances. This work focuses on the global financial crisis with regards to its causes, effects and remedies among other aspects. This crisis was caused by several factors more so in the developed world. One of the major causes was the collapse of the real estate sector in 2006. This occurred when the sector lost its securities (pricing). The majority of major financial institutions had to close some operations since majority of them depend on the real estate. This happened when the U.S among other developed nations like United Kingdom established some policies that enabled citizens to own homes by creating a general platform for easy access of housing loans and mortgages. This was a predicament that the move would provide adequate capital to the banks through safe interests. This caused housing prices to reduce from 2006 to 2012. Several real estate agencies or co mpanies reported the greatest losses in the entire history of the sector. This could be indicated in the regional and international stock markets. The policy enables the majority to own their own homes, hence very few people were left to rent or purchase housing facilities from the real estate sector or agencies. ... Most of these companies are funded by institutional investors as well as foreign banks. This compelled President George W. Bush to declare insufficient bailout to the majority of the homeowners who could not repay their mortgage debts or loans. In short, the crisis was a result of policies that enabled citizens acquires loans to build their private residential structures, only for the majority of them to fail to pay their mortgage debts. The government had to offer some bail out, even though at some point, the president declared that were limited resources to offer such bailouts. Depreciation of house prices increased to an extent that such values were far much below the mortgages. This created a kind of foreclosure in the financial sector. From 2006, there was a kind of financial drain from the consumers; as a result, this weakened financial stability among the banking institutions. There was a huge pool of loan defaulters, which compromised the housing market and the national econo my as a whole. The loss was estimated to be trillions of U.S Dollars on a global scale. Much blame for the crisis is placed on the U.S government to establish some policies that encouraged direct deals between the citizens and the global or major financial institutions. History indicates that before 1970, United States ventured on a certain business or economy strategy where vital economic issues were enclosed to the government and not the public. During that period, there were limited deals between the governmental or global financial institutions and private developers, instead the government recognized corporations, companies or partners. Any party wishing to get some loans was to

Encountaring DAMIEN HIRST Essay Example | Topics and Well Written Essays - 1000 words

Encountaring DAMIEN HIRST - Essay Example This group of artists has been very controversial around the world, but especially in England where they came to prominence in the early 1990s. Almost all of them attended Goldsmiths College in London and were bought in the early stages of their career by the rich collector Charles Saatchi. Tracey Emin is a good example. Her most famous installation piece is called The Bed and takes the form of a double bed around which are many personal objects from her life. Another pair of London conceptual artists are the Chapman brothers, Jake and Dinos, who focus a lot of attention on torture and suffering in their work, going so far as to cast life size sculptures based on images from Goya’s Disasters of War. These artists all have in common the desire to shock and sensationalize and tackle subjects that are rarely considered to be art. The critic Matthew Collings had this to say about these London-based conceptual artists: Nobody can quite sum up what they stand for. The advance public ity of Brilliant! presents them as cheeky cockneys and punk rockers oppressed by the Thatcher junta, dodging IRA bombs, living in squats, and making rough and ready art that screams with rage and isn't intended for pristine white gallery space, but for rough and ready warehouse spaces in London's cockney East End. But no conceptual artist has been as controversial as the London artist Damien Hirst, who was born in 1965. In the beginning, while still a student at Goldsmiths, he helped to organize and exhibit art by other London YBAs.

Global finacial crisis Research Paper Example | Topics and Well Written Essays - 2500 words

Global finacial crisis - Research Paper Example Liquidity rate is the process of transforming solid assets into actual money. It is an indication of insufficient flow of finances. This work focuses on the global financial crisis with regards to its causes, effects and remedies among other aspects. This crisis was caused by several factors more so in the developed world. One of the major causes was the collapse of the real estate sector in 2006. This occurred when the sector lost its securities (pricing). The majority of major financial institutions had to close some operations since majority of them depend on the real estate. This happened when the U.S among other developed nations like United Kingdom established some policies that enabled citizens to own homes by creating a general platform for easy access of housing loans and mortgages. This was a predicament that the move would provide adequate capital to the banks through safe interests. This caused housing prices to reduce from 2006 to 2012. Several real estate agencies or co mpanies reported the greatest losses in the entire history of the sector. This could be indicated in the regional and international stock markets. The policy enables the majority to own their own homes, hence very few people were left to rent or purchase housing facilities from the real estate sector or agencies. ... Most of these companies are funded by institutional investors as well as foreign banks. This compelled President George W. Bush to declare insufficient bailout to the majority of the homeowners who could not repay their mortgage debts or loans. In short, the crisis was a result of policies that enabled citizens acquires loans to build their private residential structures, only for the majority of them to fail to pay their mortgage debts. The government had to offer some bail out, even though at some point, the president declared that were limited resources to offer such bailouts. Depreciation of house prices increased to an extent that such values were far much below the mortgages. This created a kind of foreclosure in the financial sector. From 2006, there was a kind of financial drain from the consumers; as a result, this weakened financial stability among the banking institutions. There was a huge pool of loan defaulters, which compromised the housing market and the national econo my as a whole. The loss was estimated to be trillions of U.S Dollars on a global scale. Much blame for the crisis is placed on the U.S government to establish some policies that encouraged direct deals between the citizens and the global or major financial institutions. History indicates that before 1970, United States ventured on a certain business or economy strategy where vital economic issues were enclosed to the government and not the public. During that period, there were limited deals between the governmental or global financial institutions and private developers, instead the government recognized corporations, companies or partners. Any party wishing to get some loans was to

Networking Fundamentals Essay Example for Free

Networking Fundamentals Essay 1. Unit 1 review questions: a. The functions provided by a network are usually referred to as Network Services. b. A(n) Client Server may also be known as simply an access server. c. True or False: A client/server network is the simplest network model. d. True or False: A common way to share resources on a client/server network is by modifying the file-sharing controls via the computer’s operating system. e. True or False: The oldest and still most frequently used network communications services are print services. 3. Still learning about all these technical terms, so I goggled it come up with the similarities and differences between a peer-to-peer network and a client-server network are peer-to-peer network is inexpensive to set up and are installed where the employee most interacts regularly. Client-Server networks are as big or as little as you need, in some cases it has supported millions of users and ultimately can be really expensive to support and install. It says the concept behind the peer-to-peer networking is to be able to share all your files and use the same printers as cheap as possible. Seems though having a Peer-to-peer network you are exposing yourself, it has no central security or any way to change your settings, that it can’t control what is shared on the network. 4. Describe two hypothetical situations, one in which a peer-to-peer network would be most appropriate and one in which a client-server network would be most appropriate, and explain why the particular network type would be most appropriate for that case. In one of my previous jobs I worked for an eye doctor, the best thing for her when setting up her office is to build a peer-to-peer network. We had a total of 5 people that worked in the office, by doing the peer-to-peer network it is inexpensive and it will get the job done. We don’t need a lot being a small company and we shared the network drive for the patient files and printed to the same printer. For the Client-Server Network, it would be for a company that I work for right now and that is Amazon.com, this building has about 3,000 employees that need to log into a computer to either process a customer order, get the order for the shelves or ship it out. So they will most definitely need a larger server to maintain the largely group of people on one network.

Impact of Taxation on Dividends

Impact of Taxation on Dividends Abstract: This research paper attempts to analyze the different tax systems and their impact on the dividend distributions. It is explained that the dividend payout is monotonically distributed across tax regimes as the firms in double taxation (classical) system have significantly lower payouts than companies in the partial-imputation system, while companies in the full imputation system pay the highest payouts. Our results hold when the other fundamental determinants of dividends are held through Lintnerà ¢Ã¢â€š ¬Ã¢â€ž ¢s model and the actual payout ratio. Overall, it is reported that the type of dividend tax system affect the dividend payout. Introduction: The tax burden on dividends depends on corporate and personal income tax systems. In a classical system, the total tax is the sum of the corporation tax, the effective capital gains tax and the tax on dividends. Typically the tax on dividends exceeds the gains tax creating an incentive to reduce dividends. In an imputation system on the other hand, the total tax is given by the corporation tax plus the effective gains tax plus the reduced dividend tax. If the reduction in the tax on dividend is large enough to make reduced tax dividend lower than the effective capital gains tax, an incentive to increase dividends is created. Understanding the impact of taxes on dividend policy is important for both academicians and practitioners. From academic perspective, the relevance of taxation will highlight the extent to which companies consider the after tax return of their shareholders and how any tax reform will affect the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s dividend payouts. For practitioners, knowing how taxation affects dividends is also of considerable interest. Since shareholders are taxed differently, if stock prices reflect the tax status of one particular group of investors, other groups can take advantage of these differences by, namely trading around the ex-dividend dates to capture/avoid dividends. Moreover, understanding the impact of dividend taxation will be important for fund managers and analysts as changes in tax codes could affect the net returns and the relative pricing of securities. Most countries around the world adopt different systems of taxing dividends. Some follow a classical tax system where corporate income is treated differently from personal income in terms of statutory tax rate and deduction rules, others use some level of integration between corporate and personal income. The important distinction between these two different systems is the taxation of dividends. Countries that follow the classical system separate shareholders income from the income of their corporations. As a result the same unit of earning in the company is taxed twice when it is paid as dividend: first at the corporate level and then at the personal level; a disadvantage known as à ¢Ã¢â€š ¬Ã…“double taxationà ¢Ã¢â€š ¬?. In contrast, countries that follow a more integrated system usually have a full or partial relieve from dividend tax in consideration of the fact that the same unit of earning has been taxed at the corporate level. In Pakistan, the system of double taxation (cla ssical system) is implemented i.e. the dividends are taxed on corporate level and then the same unit of earning is taxed at shareholder level. Background More than forty years ago, Miller and Modigliani (1961) showed that, after some assumptions, such as complete and perfect capital markets, a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s dividend policy does not affect its value. While this theory has highlighted the five main factors that could affect dividends, namely signalling, agency costs, behavioral (catering and mental accounting) and taxation, the empirical evidence provided to-date on such effects is mixed, (Allen and Michaely (2006) and Graham (2003). In particular, while in theory taxation is expected to prevent companies from paying dividends, most previous empirical studies have shown that taxation plays a minor role in dividend decision (e.g. Brav et al., (2005), Fama and French (2001), Julio and Ikenberry (2005). Therefore it is not clear why companies still pay dividends despite their heavy tax burden. In this paper, the dividend tax systems is analyzed and test the hypotheses that, in countries where the tax burden on dividends is high, companies pay low dividends. Although dividends may have a tax disadvantage, previous studies show that shareholders react positively to dividend increases and negatively to dividend decreases (e.g. Michealy, Thaley and Womack (1995). Long (1978) provides evidence that in dual class shares, investors favor cash dividend over stock dividend stocks. The tax disadvantage of dividends and yet their popularity challenges the traditional policy of payout policy. Blackà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1976) dividend puzzle discusses the weaknesses of the finance theory in answering the simple question, why firms subject to a classical tax system to pay dividends? Some studies explain dividends away from taxes. For example Lintner (1956) in his classical study, shows that firms adopt a subjective target payout policy by decreasing dividends very slowly and hardly ever cut them. Models based on information asymmetry suggest that dividend changes provide information about the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s future cash flows (Bhattacharya (19 79) and Miller and Rock (1985) or about the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s cost of capital and/or maturity stage (Grullon, Michaely and Swaminathon (2002), Grullon and Michaely (2000). From the agency theory perspective, dividends provide a disciplining tool to reduce agency costs (Easterbrook (1984) and Jensen (1986). Behavioral finance theory suggests that dividends are paid in part to accommodate certain biases in individuals such as market sentiment (Baker and Wurgler (2004) or self control, mental accounting and regret avoidance (Shefrin and Statman (1984). Taxation moel suggests that if dividends are taxed at a higher rate than capital gains, firms should prefer to retain earnings or buy back shares (e.g. Auerbach (1979), Bradford (1981) , Auerbach and Hasset (2003), Lasfer (1996). Literature Review: To assess the impact of dividend tax on investment and financial policy of the firm, the literature has followed three basic approaches. The first approach is to examine the relation between the risk-adjusted pretax rate of return and dividend yield. If dividend tax is relevant and if dividends are taxed at a higher rate than capital gain, than pretax return should increase in proportion to dividend yield to compensate for dividend tax disadvantage. Black and Scholes (1974), Gordon and Bradford (1980), and Miller and Scholes (1982) did not find evidence that the tax differential between dividends and capital gain have an impact on pretax returns, while Lintzenburger and Ramaswamy (1979) find evidence to the contrary. The second approach is to examine the ex-dividend behavior of stock prices. Absent dividend tax, the value of a stock should fall by the full amount of the dividend on the ex-dividend day. Elton and Gruber (1970) provide evidence that US stock prices fall by less than th e full amount of the dividends on the ex-dividend day. Poterba and Summers (1985) and Lasfer (1996) show similar results. Other studies did not find evidence that the tax differential between dividends and capital gains have an impact on the ex-dividend behavior, for example, Hearth and Rimbey (1993), Lakonishok and Vermaelen (1983). The third approach is to employ event study analysis. Changes in tax laws provide a natural experiment for investigating the impact of dividend tax on investment and financial decision. Poterba and Summers (1985) show that higher dividend tax is associated with lower investment and dividends. Poterba (2004) study shows that the tax disadvantage relative to capital gains has a negative effect on dividend payment. Blouin et al. (2004) study the impact of the 2003 tax reduction in the US and find dramatic increase in the regular dividends and the special dividends after enactment and a decline in the share repurchases. Chetty and Saez (2004) report on incr ease in the fraction of dividend payers following the 2003 dividend tax reduction. In Pakistan the system of double taxation is implemented on dividends, its comparison with countries implying other system of taxations is studied. Objectives: The objectives of this research paper are to find out the impact of taxation on dividend policy and its impact on the financial and investment decision of the firms. Research Question: Is the dividend payout ratio of firms in full or partial integration system higher than the dividend payout ratio of firms in double taxation system? Theoretical Framework: Dividend Payout Taxation (Independent Variable) (Independent Variable) (Dependent Variable) Hypotheses: H1: Dividend payout ratio is higher in full and partial integration systems than in classical system of taxation. H2: Dividend payout ratio is NOT higher in full and partial integration systems than in classical system of taxation. Hypotheses Testing: Unlike the full integration system, the classical system carries with it a disadvantage of double taxation. If tax on dividends has an impact on the financial policy of the firm, then firms in classical system will lower or avoid dividends as much as they can, while firms in full integration systems will not have to lower their dividends. Thus the hypothesis H1 is expected to be true. System No. of Firm Observations Net Tax Rate on Dividend (%)* Payout Ratio =DPS/EPS* Classical System 18 50% 0.32 Partial 15 42% 0.45 Full 17 35% 0.47 * = Subject to 10% level of significance Research Methodology: Population: Population includes observations that have been collected randomly from firms in 6 countries representing all the three types of taxation systems. Sample: It includes 50 observations, i.e. data has been collected randomly from 50 firms representing all the three taxation systems. Sources of Data Collection: The annual OECD tax database Corporate and Individual Taxes, A Worldwide Summary, Price Waterhouse Conclusions: The dividend payout policy of companies was analyzed that applies different tax systems with regard to dividends. It is found that companies located in countries that apply double taxation system (classical tax system) to have less dividend payout than do companies located in countries that try to partially avoid double taxation. In general, tax effect measured by the type of dividend tax treatment has a strong effect on the size of dividend payout.

Animal Rights Essay -- Legal Issues, Animal Rights

Justifying Animal Rights In this society, it is under law for all people have the basic rights under the universal declaration of human rights. As stated, this only benefits humans, where humans rule the world. So where does the rights of animals come from? Many people do not understand animal rights and how we should treat them equally and why. Through animal research and experimentations, humans are getting benefit and gains in the obscene inhumane ways; the poor animals are suffering through pain and distress, even though they have moral status and rights. A right is a particular way of protecting interests, to say that an interest is protected by a right, is to say that interest is protected against being ignored or violated simple because this will benefit someone else. So what are animal rights? Animal rights is the idea that animals have the same rights as humans, to live free of suffrage, just as important as living individuals, and with the same moral status as humans. According to Doris Lin, an animal rights attorney and the Vice President of Legal Affairs for the Bear Education and Resource Group, â€Å"They have a right to be free of oppression, confinement, use and abuse by humans.† However, rights are not absolute in the sense that their protection has no exception. David DeGrazia, the author of many scholarly animal rights books dealing ethical and philosophical issues, explained that animal rights might be unfamiliar to most people because of the daily abuses and killing toward animals that are viewed as socially a cceptable, and unconsciously ignored due to normal day-to-day activities and even festivals with animal killings for fun. (12) Animal abuses can be ranged from animal experimentations and testings... ... animal rights view, the animals, like humans have rights in the â€Å"utility- trumping sense†. The utility-trumping sense have vital interest that we must not override, even in an effort to maximize the utility for society. (Animal Rights, 20) Billions of animals are being slaughtered, abused, and harmed every year; causing enormous amounts of pain, suffering and distress upon them. It is wrong for humans to cause extended harm to animals for no compelling reason, for the fact that they have moral statuses. We have obligations to animals, and these are not simply grounded in human interests. However, the issues of moral status and equal consideration are far more fundamental and far-reaching in practical impact as DeGrazia have stated. (38) Animals have as much moral status and rights as humans do, and are most definitely worthy of our consideration in their lives.

Aerodynamics of Golf Balls :: physics sport sports golf

Introduction to Aerodynamics Aerodynamics is the study of the motion of fluids in the gas state and bodies in motion relative to the fluid/air. In other words the study of aerodynamics is the study of fluid dynamics specifically relating to air or the gas state of matter. When an object travels through fluid/air there are two types of flow characteristics that happen, laminar and turbulent. Laminar flow is a smooth steady flow over a smooth surface and it has little disturbance. Intuition would lead to the belief that this type of air flow would be desirable. It would make sense to assume that this smooth undisturbed air would create the least amount of resistive force due to friction. The golf ball seemingly defies this theory by traveling farther with its disruptive surface texture that creates the second flow characteristic, turbulent flow. Turbulent flow is flow that is disturbed and creates whirlpool like features. The turbulent air actually lessens the difference in velocity of the air layer that is extremely close to the ball compared to the rest of the air and so lessens the friction acting on the ball. Drag is a major contributor to how an object travels through fluid/air. Drag is caused by the disrupted air immediately behind an object moving through fluid/air. It acts perpendicular to and in the opposite direction of travel of the object and impedes the motion of the object. It would make sense that if the drag is minimized the object will travel farther. Lift or curve in the motion of an object through air is a phenomena that is noticeable in a ball traveling through fluid/air. This change in direction is due to the effect that spin has on the object in motion. This can be explained by Bernoulli's Principle. Bernoulli, a 1700's physicist and mathematician, showed that the speed of an object through liquid/air changes the pressure of the air. The velocity of a spinning ball relative to the air is different from one side to the other creating a low pressure on one side and a high pressure on the other. This causes the ball to move in the direction of the lower pressure. The golf ball is typically hit with an undercut causing a reverse rotation and therefore a lifting action on the ball. The History of Golf Balls The golf ball has changed dramatically through the years. Smooth hardwood balls were used between the 1400 and 1700's.

Template for Review of Journal Article Essay

Introduction Give an overview of the article. Development What are the key points in this article? What did I find striking or interesting about these key points? How relevant are the key points to my role as a teacher? What do I agree or disagree with in this article? How has this article influenced me in thinking deeply about my values, beliefs and assumptions? How specifically will I be able to use the information and knowledge to improve or enhance my teaching and learning in terms of approaches, strategies, methods or techniques? Conclusion What new insights/discoveries have I made in relation to article review? How will I make use of this new knowledge in future? What further information or knowledge should I seek to expand my knowledge in relation to the contents of this article? N.B. Minimum of 2 pages (A4) or 800 words, Font size 12, 1†³ margin all round. Please review FIVE articles as proposed and submit to Mr. Chee by Week-10, as your GROUP assignment. OR Please review ONE article as proposed and submit to Mr. Chee by Week-10, as your INDIVIDUAL assignment. Rubrics for Assessing Journal Article Review Grading Description of Quality of Work Excellent (A) 80 and above Very clear focus and clarity of thoughts and expression. Key points are well developed and described in detail. Excellent analysis of article content that is discerning, in-depth and supported by both pedagogical and personal knowledge. Ability to relate content to one’s role and competencies as a teacher is demonstrated in an outstanding manner. There is a high quality of reflection as can be seen in the ability to relate to one’s values, beliefs and experiences to the content of the article. The reviewer is able to suggest how the information and knowledge could be adopted or adapted innovatively to enhance or improve teaching and learning. Personal insights and views that are expressed show that the reviewer has thought critically and reflectively about the article and the effects on his/her role as a researcher. The review is clear, well organized with logical sequencing and elaboration of key points. All key points are adequately detailed and there is in-depth analysis of some of the points. Good effort has also been made to relate the content of the article to one’s role and competencies as a teacher and interesting ideas were proposed for improving or enhancing management. Insights and discoveries made show a good understanding of the article content and that that the reviewer has made good effort to reflect on his/her values, beliefs and experiences. There is adequate analysis of the article content but with some points detailed more than others. Relationship is drawn between some key points and one’s role and competencies as a researcher. The reviewer was able to suggest how the information and knowledge could be applied in teaching and learning to improve or enhance current practices. Overall, the review is satisfactory in that it shows an overall understanding of the content and the ability to reflect on the content to obtain adequate benefits as a researcher. Unsatisfactory (F) Below 60 The review is lacking in focus and clarity of expression. Key points not elaborated upon and details are minimal. Little analysis of content. Minimal reflection and insights given.

Cosi hsc practice essay Essay

Discuss how Nowra’s perspective on personal relationships is conveyed in Cosi. The play Cosi by Louis Nowra is an emotional portrayal of personal relationships in a Melbourne mental institution ostracised by society. Throughout the play Nowra’s perspective on personal relationships develops and changes through character relationships and development, especially the development of the main protagonist Lewis. Nowra conveys his perspective on personal relationships through themes such as the importance of love and fidelity, the empowerment of women and learning and self-development. Techniques such as symbolism, intertextuality and contrast are also used to further highlight Nowra’s perspective. Nowra’s perspective on personal relationships is primarily shown through the character Lewis and his personal relationships with other characters in the play, especially in his relationship with his girlfriend Lucy. Act Two, Scene Two which features a confrontation between Lewis and Lucy on their relationship is significant in showing this. In this scene, Lucy comes to pick Lewis up to take him to the moratorium meeting and Lewis must decide between staying for the play and going with Lucy. Nowra’s belief on the importance of the existence of love and fidelity in a relationship is shown when Lewis says to Lucy â€Å"It’s about important things like love and fidelity†. Intertextuality is used here through Lewis’ character development and change of values that is evident in this line. This change occurred through his participation in the production of Cosi Fan Tutte with the patients and his exposure to the themes in the play. The women in both Cosi Fan Tutte and Cosi are often compared with the Arabian Phoenix which acts a symbol for a woman’s constancy or fidelity. â€Å"A woman’s constancy is like the Arabian Phoenix. Everyone swears it exists, but no one has seen it.† This is quoted by Lewis to Lucy to further convey Nowra’s belief in the importance of love and fidelity in a relationship. As Cosi was written in a time where a huge social change was occurring and women were beginning to have more sexual freedom with the invention he birth control pill, a lot of aspects of the play focus on the empowerment of women and the double standards that exist between and women in society especially when it comes to fidelity. This is shown in Nowra’s contrast of Act Two, Scene One and Act Two, Scene, Two. In Scene One, Lewis is unfaithful as he kisses Julie but in Act Two he reprimands Lucy for sleeping with Nick failing to mention his own infidelities. Intertextuality is used in this scene when Lewis claims that a woman’s constancy is like the Arabian Phoenix, revealing his hypocrisy. Through Lewis’ condemnation, Nowra demonstrates that, although modern society has become more sexually lenient, there are still double standards that occur which condone men’s fidelity but condemn women’s fidelity. It is revealed that Nowra believes that men and women should be equal not only in relationships but in society too. Julie articulates the message at the beginning of the play when she says that men â€Å"want women to deceive them because it will prove their worst thoughts about women† which in contrast is confirmed by Lewis’ attitude towards Lucy’s infidelities.

STUDY OF DIGITAL FILTER SHARPENING Dissertation

STUDY OF DIGITAL FILTER SHARPENING - Dissertation Example This dissertation tells that in the engineer’s daily work on dealing with Digital Signal Processing (DSP) for clients, he is often faced with several challenges that hinder the successful implementation of his task. The challenges come in diverse forms but one of such common challenges in the engineer dealing with digital signal processing has to do with system specification problems. These system specification failures often cause symmetric FIR filters in the entire software being used in the work not to function or work as it should. In a situation like this, most experts suggest a reduction in passband ripple or the increase in stopband attenuation. The fact of the situation however remains that the engineer is not always privileged to have access to any filter design software at his disposal to enable the reduction of passband ripple or the increment of the stopband attenuation. The latter scenario always happens and most engineers are always confused and limited in ideas. It is for typical situations like this that the researcher has put this research work together to serve as a catalyst for coming out with workable interventions that can be fallen upon in hard times such as the one described in the scenario. Though the researcher admits that the problem may be confronting and highly frustrating, it comes with a number of solutions, one of which is the practice of making do with the existing filter and sharpening it. This therefore brings to the floor, the issue of digital filter sharpening in handling system specification failure cases in basic engineering. ... It is against this background that the ASKAP Project (2009) mentions some expected specifications for the DSP system specifications. Among the specifications is the fact that the DSP system should be in a position to handle computed load of not less than 1 peta (1015) operations for each given second. Simultaneously, there should be a continuous flow of data at a rate of 70 Tera (1012) bits per second. In the event of all these, the practice of filtering is not eliminated. In fact, one of the major operations of the DSP system has always remained the â€Å"digitizing, filtering and beamforming of the data from the individual phased array feeds† (ASKAP Project, 2009). Anything less of the specified rate of performance calls for a reinforcement, which in the case of this research work is going to be the sharpening of available filters. Statement of the Problem The problem at hand has to do with the persistent failure in system requirements and specification for working on digita l signal processing (DSP) at a time when an engineer may not have access to filter design software to reduce passband ripple or increase stopband attenuation. It has been hypothesized through preliminary literature research that there could exist a number of interventions to handle the situation. Among the interventions however, the problem will be tackled from a perspective where the original symmetric FIR filters that was at the disposal of the engineer would be fallen on by sharpening it to get the systems back to functionality. Filter sharpening has been used for a number of complex digital signal processing; especially digital filter sharpening. Ultimately, digital

Research Critique Essay Example | Topics and Well Written Essays - 750 words - 1

Research Critique - Essay Example As seen from the introduction, the clinical problem being investigated is preeclampsia. The researchers are interested in knowing whether the disease affects women in their first pregnancy more than others. The researchers undertake this research knowing that it is true that the disease is common among the first pregnancies. However, they argue that the assumption in favor of this research can be strengthened by the fact that more women decide not to give birth after undergoing through first time preeclampsia. Therefore, the researchers conduct their researches on the same topic while considering that many people refuse to give birth to their second child because of problems related to preeclampsia during the first pregnancy. One of the reasons for conducting this research is related to high risks associated with the disease, as explained earlier. Other reasons such as clarification and information increase have also been a motivating factor in conducting a research in these areas (H ernà ¡ndez-Dà ­az, Toh & Cnattingius, 2009). Although the researchers have not ostensibly outlined the research question, it is possible to outline the main questions for the research. The question is preeclampsia still common among women during their first time pregnancies even with the researchers’ knowledge that most do not engage in second time conception recreation after going through difficulties related to preeclampsia. Through the question deduction, one cannot help but note the strong relationship between the question and the purpose of the research study areas (Hernà ¡ndez-Dà ­az, Toh & Cnattingius, 2009). The main research method used is the mixed research approach, which is appropriate in this content as there is a need to explain the problem in its context. In addition, there is a need for using quantitative research method in presenting data obtained and in measuring the relationship among variables.

Multilingualism or English Only Essay Example | Topics and Well Written Essays - 1000 words

Multilingualism or English Only - Essay Example Multilingualism  is defined as the description of the possibilities of one person to function in different linguistic environments. However, the term â€Å"multilingualism† is widely applied to describe the relations between the communities in the limits of separate states or regions as well as on the level of international relations. In the given case this term is used to describe the ethnically and culturally heterogenous societies, which include different languages as well as traditions of tolerance and acceptance of other cultures and peoples. Here we meet the term â€Å"language diversity† that is defined as â€Å"‘range of variations exhibited by human languages† (Gorter et al 3). In the United States we can see many languages, which have different degree of spread and different status. The population of the USA now amounts to 300 thousand people not including the great number of illegal immigrants. America remains the most attractive country to mov e to for many immigrants, and the government of the United States can’t struggle with it. However, the great number of immigrants represents a threat for culture and language. The English language is still dominating as brought by colonizers centuries ago. In 2000 it was native for 82% of population. However, the situation is changing every day as the country does not have an official language. The majority of states recognized English as official, but some preferred Hawaiian, Spanish and French. The significant number of immigrants preserves their native languages and tries to spread them as much as it is possible. Despite of the strong support of the English language by the government, the number of those, who consider English to be their native language, decreases. The number of people, who speak other languages (Chinese, Russian, Spanish), increases accordingly. 3-4% of population does not know

How the Roman Republic decayed and became the Roman Empire Essay

How the Roman Republic decayed and became the Roman Empire - Essay Example The prominence of Rome Rome was a small province town which after many wars became the focus and command center of the vast empire of Rome. However, history tells us that it took hundreds of years and a combat of many wars to rise to this prominence. It gained influence over a significant portion of southern Europe, northern Africa, and Middle East. Rome conquered nearly all the surrounding territories going beyond the Mediterranean Sea. It was this military dominance in the region that helped the Roman republic rise and became a formidable force of influence. The republic had appeasing methods of keeping her citizens happy and content. In this endeavor, Rome respected and protected the people’s local cultures with the sole purpose of keeping the people pacified. The Romans in their quest for improved stability, offered a healthier way of life to her war captives, giving them protection, improved mode of doing business, and the freedom to share in her civilization, like the hi gh quality road network. The import market was enhanced, and more affordable goods were made available to the citizens. Under the roman rule, the public enjoyed better and improved livelihood than in their previous regimes. The Roman social planners developed a plan on how to facilitate distribution of economical products such as food that used to contribute to widespread riots. This proper food allocation to its citizens that spread across the whole regime made it gain prominence. Rome’s geographical location’s place of control was another contributing factor. Its control over the Mediterranean Sea gave the regime sizeable amount of dominance. The Roman Republic The founding of Rome is not conclusively documented, in that there is scanty information on how it was initially conceived to its prominence. Nonetheless, mythical explanations state that Rome was initially ruled by kings as a monarchy for many years. As a republic, it began by the overthrow of the traditional roman monarchy, an event that ushered in the introduction of a government that was headed by two representatives. Annual elections were conducted to elect new representatives to head the government. Subsequently, a constitution representing the will of the people was developed. The enactment of this constitution was largely as a result of the struggle between the Patricians and the Plebeians in the effort of the Plebeians trying to prevent Patricians dominance of power. The constitution enabled the participation and representation of everyone at the national level of public affairs, without dominance of a party or ethical group. The fall of Roman Republic The fall of the republic of Rome was motivated by social reasons, military reasons, political reasons, and economic reasons. The fall began with political rivalry within the ranks of power which spread to the city where rival gangs supporting their leaders furthered the rivalry. The two political leaders were Pompey the Great and Julius Caesar. Their rivalry was promoted by their indifference in political leadership when Pompey was appointed, against the spirit of the constitution, to head the consul alone. This angered Caesar who waged war against Rome forcing Pompey to flee. Military Reasons During the roman republic, the army was comprised of citizen soldiers who went to war in defense for their country for some years. This was the product of Rome spreading its territorial control, where the soldiers were

Entry into Chinese Market Case Study Example | Topics and Well Written Essays - 1250 words

Entry into Chinese Market - Case Study Example When they decide to enter newer countries, firms have to analyze both the opportunities as well as challenges, so that those challenges can be effectively managed. The first aspect they will have to analyze is the entry mode, so they can pick the best entry mode which has minimal risks, and this applicable to retail firms as well. In addition, they have to focus on the economic and legal aspects that could aid as well as impede them. China is one country, which has optimal opportunities for all firms including the retail firms like the fictional firm of Pesco. This paper will discuss the advantages as well as the disadvantages of entering China by the firm Pesco, focusing on the feasible entry modes, and how Pesco can or have to manage the economic and legal aspects. With the onset of globalization and the opening of the Chinese markets in 1990s, foreign firms particularly retail firms are more than eager to enter to tap the large prospective customer base. China being a country whic h runs on Communist principles, for most part of the 20th century, China raised an â€Å"Iron Curtain† and restricted the foreign firms’ entry, thereby protecting the indigenous firms. However, with globalization providing more opportunities to firms, and with its entry into WTO, Chinese government started to allow foreign firms into its territory. â€Å"Indeed, if we can identify a single moment when the  ­Western- ­dominated Globalization 2.0 gave way to Globalization 3.0, it may have been when China acceded to WTO membership on December 11, 2001† (Walker, n. d). Due to these developments, China particularly started lessening its trade restrictions particularly in the retail sector. The foreign firms for their part are enticed by the huge population of China and how they can be tapped as a huge customer base. â€Å"Most of the world’s major global retail firms are desperate to grab a slice of the world’s largest and most rapidly growing emer ging market† (Gamble, 2006). In addition, the sizable sections of this population have high purchasing power. As the Chinese economy as a whole, is improving optimally, it has resulted in the accentuation of its citizens’ purchasing power, and for the retail firms including Pesco, this can be huge advantage. Because of this favorable business environment in China, Pesco can open its retail outlets. When it comes to the entry mode, Pesco can enter in the form of wholly owned subsidiaries. This entry mode can provide many advantages for Pesco, including in the economic and legal sphere. However, there are risks as well, when this mode is adopted. The first advantage Pesco can garner if it uses the wholly owned subsidiary option and not the joint venture option is the benefits from the new tax regime. The main feature of this new tax regime is that foreign firms as well as foreign firms having joint ventures with Chinese entities have to pay land-use taxes, which is equal and even more than the indigenous Chinese companies and foreign firms’ subsidiaries. That is, in under the earlier favorable tax regimes, the foreign firms including joint ventures were given exemptions from the land-use tax, and were also given permission to construct infrastructures on non-taxed lands and function in them. However, in the new tax structure, foreign firms’ tax payments have been even tripled from the old rate. That is, â€Å"in large cities the annual property tax rate will range from 1.5

The south after the civil war Essay Example | Topics and Well Written Essays - 500 words

The south after the civil war - Essay Example Earlier the south enjoyed a competitive advantage over the rest of the country with the help of slave energy and cultivation of huge plots of land. This measure had dual advantage. Firstly, the wage or cost per labor was considerably low and secondly this cost benefit was ploughed back into the agricultural business by buying large plots of land and cultivating huge area at one time. Thus it is obvious that the yield this way used to be generating formidable surplus out of the business. Once the civil war was lost and the advantage of slave energy was diminished the landlords or the region found it difficult to adjust with the changed situation of escalated labor cost and in the process they were forced to employ tenants and divide the land into smaller plots. Both these factors diminished returns and this caused the south to face a low per capita income and in the process became the most backward states of the nation. (Kunreuther, 526-51) However, there are opposing views to this hypothesis. Ransom believed that the main cause of economic degradation was due to the fact there was a substantial amount of racism present in the South even after the Civil War. This racism induced low legal and social support for the African American in the region.

Impact of Tax Essay Example for Free

Impact of Tax Essay Income tax is a tool to achieve economic growth in any country. Income tax is accepted not only as a means of raising the required public revenue, but also as an essential fiscal instrument for managing the economy (Burgess, 1993). Of all the taxing systems, income tax plays a major role in generation of revenue and distribution of income in any country. If income taxation is poorly designed, it may lead to fiscal imbalance, insufficient tax revenue and distortions in resource allocation that can reduce economic welfare and growth (World Bank, 1991). Hence, an ideal tax system would achieve a balance between resource allocation, income distribution and economic stabilization (Lewis, 1984). Patterns of income taxation (both in level and in composition) differ from country to country because of economic, cultural and historical factors. Ratios of tax revenue to gross domestic product (GDP) in developing countries are typically in the range of 15 to 20%, compared with 30% in industrialized nations (World Bank, 1991). It is also established that countries have different approaches to tax administration. Maisto (1988) stated that â€Å"contradictory approaches towards the subject matter have been shown by the tax authorities of different countries because of their diverging interests†. An optimal tax rate has to compromise between the state’s revenue and its economic development. A high tax rate would deter saving and development, while a lower tax rate would lead to less revenue to the state. A tax directly influences the savings of individuals and companies; it is a double edged sword used to curtail consumption activity and at the same time, allows the taxpayer to save money in different development activities (Swami, 1995). The income tax financing the current social security benefits such as health, security and provision of utilities draws heavily upon income that otherwise would have been saved. Instead of accumulating capital, this income goes to social security transfers which are probably consumed (Boadway, 1982). Bartik (1994a and b) suggested that a 10% lowering of taxes would raise employment and investment between 1 and 6%. World Bank periodically relates that economic development is directly correlated to the level of taxation, more so in developing nations where the lower marginal tax rates have higher economic growth. In addition, policy makers in these countries have a â€Å"keen interest in the elasticity of economic activity with respect to taxes, suggesting that states and regions are interested in manipulating their tax systems in an attempt to attract business or to foster growth† (Wasylenko, 1997). On the other hand, income tax rates are increased due to factors such as enormous reduction in the purchasing power of money, heavy tax erosion, urgent need for yield and dynamic public expenditure (Fossati, 1992). While dealing with the effects of income tax rates (ITR) on economic reforms, Henry and William (1996) suggested that one should evaluate the desirability of reform proposals and the impact of such reforms on individuals and businesses as a whole. They further stated that ITR change would revolve around three factors: the tax base, allowable deductions and economic development. While dealing with the ITR, it is suggested that one should study the effects created by these rates, especially the impact of ITR on economic growth (Holger, 2003). Various governments have different approaches and methods of fixing the ITR. The French Government recently introduced preferential tax treatment by reduced ITR for young innovative companies completely based on the economic growth. The scheme was originally proposed to the State by French biotechnology as â€Å"a way to rapid and strong economic growth† (European Chemical News, 2004). Martin and George (2003) analyzed several tax rates and expenditure categories and concluded that the tax system has a direct impact on the growth rate of the economy of a country. Long-term economic growth has a direct link with the country’s tax policy (John and Pamela, 2003). Fixation of ITR may be based on different systems of taxation. Akira (2003) demonstrated that a flat rate wage tax stimulated economic growth, while interest income taxation did not foster such growth. Tetsuo (2003) suggested that taxation based on environmental pollution factors results in two contradicting issues such as reduction in production and increase in tax revenue, but in the long run, this system will help the healthy economic growth for future generations. Olhoft (2003) is of the opinion that spending millions of taxpayers’ money on tax breaks and tax incentives is most likely a misguided strategy for any State when the State is in budget deficit.