Economics. Exchange rate to the larger country’s currency Essay

†¢A managed floating exchange rate refers to (an exchange rate that is not pegged, but does not float freely) †¢A small country with strong economic ties to a larger country should (PEG ((HARD OR SOFT)) THEIR EXCHANGE RATE TO THE LARGER COUNTRY’S CURRENCY) †¢An increase in the real exchange rate (real depreciation of domestic currency) will result in (AN INCREASE IN NET EXPORTS) †¢China has pegged its currency against the U.S. dollar. If demand for dollars decreases (THERE IS PRESSURE FOR THE U.S. DOLLAR TO DEPRECIATE. IN THIS SETTING, CHINA HAS TO PURCHASE DOLLARS TO MAINTAIN ITS PEG) †¢Consider Figure 10.4, â€Å"Supply and Demand in the Foreign Exchange Market.† If U.S. demand for the British pound decreases, in the long run (THE DEMAND CURVE WILL SHIFT IN TO THE LEFT, AND THE DOLLAR WILL APPRECIATE) †¢If the U.S. dollar depreciates in terms of the Euro (American goods would be cheaper for Europeans) †¢In a fixed exchange rate system, how do countries address the problem of currency market pressures that threaten to lower or raise the value of their currency (a & b only: if demand rises, countries must fill the excess demand for foreign currency by selling their reserves, if demand falls, then countries must increase demand by buying up the excess supply with domestic currency) †¢In the debate on fixed versus floating exchange rates, the strongest argument for a floating rate is that it frees macroeconomic policy from taking care of the exchange rate. Why is this also the weakest argument (the freeing of monetary policy from the task of maintaining an exchange rate creates a lack of external discipline on monetary policy and leads to an over reliance on inflationary policies to satisfy domestic economic needs) †¢Suppose a bond issued by the European Central Bank and denominated in euros pays 2% per year. Today the exchange rate is 1.87 dollars per euro. It is expected that the exchange rate in one year will be 2.06 dollars per euro. What is the annual dollar return on this bond (12 percent) †¢The price of a currency that will be delivered in the future is called (THE FORWARD EXCHANGE RATE) †¢Under a Gold Standard (THE EXCHANGE RATE IS FIXED) †¢Which is true (SOME COUNTRIES PEG TO A BASKET OF CURRENCIES) †¢Which of the  effects is not considered when choosing an exchange rate system (THE FISCAL ((SPENDING)) POLICY THAT THE CHOOSING COUNTRY WILL MAINTAIN) †¢Which of the following would be interested in holding foreign currency to engage in transactions (a & d only: a tourist, a manufacturing firm) †¢Which of the following would be interested in holding foreign currency to take advantage of investment opportunities (a portfolio manager) †¢SUPPOSE THE DOLLAR-YEN EXCHANGE RATE IS 0.013 DOLLARS PER YEN. SINCE THE BASE YEAR, INFLATION HAS BEEN 1 PERCENT IN JAPAN AND 9 PERCENT IN THE UNITED STATES. WHAT IS THE REAL EXCHANGE RATE (.0120) WORK: REAL EXCHANGE RATE = (NOMINAL EXCHANGE RATE) X ((FOREIGN PRICES) / (DOMESTIC PRICES)) THE FOREIGN AND DOMESTIC PRICES ARE FOUND BY TAKING 100 + THE INFLATION PERCENT. THEREFORE, THE REAL EXCHANGE RATE = 0.013 X ((101) / (109)) = 0.0120 IN REAL TERMS, THE DOLLAR HAS APPRECIATED AGAINST THE YEN (TRUE) †¢DUE TO THIS CHANGE, THE U.S. DOLLAR WILL (APPRECIATE), THE CANADIAN DOLLAR WILL (DEPRECIATE), AND THE LENGTH OF THE EFFECT WILL BE (MEDIUM RUN) †¢Exports represent about ___ percent of Israel’s economy (40) †¢One of the reasons Israel’s currency has appreciated recently is due to (low interest rates in other major economies) †¢Israel’s benchmark interest rate is now (1.25%) †¢Market determined currency exchange rates are also known as (floating exchange rates) †¢What is the impact of currency depreciation on the country experiencing the decline in currency value (exports will increase) †¢When a country allows their currency to depreciate it will (increase exports) †¢When a foreign currency becomes more expensive in terms of another currency it is said to have; (appreciated) †¢How will lowering the interest rates impact the value of the currency (it will devalue the currency) †¢How does the appreciation of the British pound versus the euro impact the British economy? Goods priced in pounds are now (more expensive to consumers in Europe that use the euro, resulting in a further decline in British exports) †¢Why is the British pound appreciating versus the euro (because investors and savers that hold their wealth in euros are looking for â€Å"safe haven† currencies to place their money) †¢How does the Bank of England’s quantitative easing impact the pound’s strength (normally  quantitative easing would cause a currency to depreciate, so the fact that the pound is appreciating provides a strong indicator of investors’ fear of the euro)

Psychological Testing to Assess Motivation in the Workplace

Every employer seeks to find new employees that are a perfect match for the available position in their company. Many employers are now leaning towards organizational psychologists to assist them in finding the â€Å"perfect† employee. Organizational psychologist are able to assist companies in screening possible employees for personality traits that are necessary for the person to be successful at the potential job. Employers have also started to integrate psychological testing into the interview process to assist psychologists in picking out potential candidates who hold these desired traits. In addition, psychological testing is used to test current employees to determine what company improvements are needed to improve overall success. A largely researched topic in this area of psychology is motivation and reasons for motivation in employees. Article Summary The ability to measure factors that energize, channel, and sustain work behavior over time is essential for capturing employee motivation and for developing interventions aimed at enhancing motivation, job satisfaction, and performance (Tremblay, Blanchard, Taylor, Pelletier, & Villeneuve, 2009). Tremblay et al. (2009) suggests that self-determination theory (which focuses on why a person is motivated) applies to activities which people find interesting, challenging, or pleasing. This type of motivation is called intrinsic motivation. In addition, activities that are not experienced as interesting or pleasing are unlikely to get accomplished, unless there is an instrumental reason in doing so. This is called extrinsic motivation. The self-determination theory states that intrinsic motivation leads to the most positive outcomes, whereas extrinsic motivations lead to more negative outcomes such as counterproductive performance and employee withdraw (Tremblay et al. , 2009). Low work motivation has been linked to depression in employees, higher turnover rates, and job burnout (Tremblay et al. , 2009). Since better job performance, employee engagement, and employee retention as all considered vital for overall success of a company, it is important that research be conducted on tests that are able to determine otivational characteristics in company employees. The Work Extrinsic and Intrinsic Motivation Scale (WEIMS) The WEIMS is a 18-item self-report scale that was developed by Tremblay et al. (2009) to measure both extrinsic and intrinsic motivation in employees. The scale is also theorized to determine successful job performance based on six types of motivation determined by the self-determination theory. Partic ipants were asked to provide their answers to the 18 items on a Likert-type scale, ranging from 1 (does not correspond) to 5 (corresponds exactly) (Tremblay et al. , 2009). The researchers then created a formula to assess the scores of the scale. The total score derived from the formula reflects the individuals’ level of self determination. This research was conducted to determine the accuracy of using the WEIMS in different work environments to determine levels of motivation in employees. The WEIMS was hypothesized to predict positive and negative motivators based on the self-determination scale and to determine psychological ideas related to work motivation (Tremblay et al. , 2009). In addition, this research aimed to gain reliability and validity of the WEIMS scale. Three separate studies were conducted in an attempt to support the proposed hypotheses Effectiveness of the WEIMS In the first study, the WEIMS showed mid to high correlations for each type of motivation. Researchers indicated that this represents an indication of construct validity (Tremblay et al. , 2009). This study also determined that results indicated that extrinsic motivation was the main reason why employees were involved in their work. In study number two, results again indicated extrinsic motivation as the main motivation for employees (Tremblay et al. 2009). Results also indicated that a positive work environment leads to higher levels of self-determination, which in turn leads to the employee being more engaged in their work and a higher level of job satisfaction (Tremblay et al. , 2009). In addition, organizational support and positive work environment also showed a positive correlation with four of the types of motivation. In the third study, results were identical to t he first two studies. This indicates that the reliability and validity of the WEIMS measure is positive (Tremblay et al. , 2009). In addition, the original hypotheses that the WEIMS predicts positive and negative motivators based on the self-determination scale was supported (Tremblay et al. , 2009). The overall effectiveness of the WEIMS measure, as used in an employment setting, was positive. â€Å"The WEIMS has construct, content, and criterion validity for organizational settings† (Tremblay et al. , 2009, p. 221). In addition, results of all studies were consistent with the hypothesis that as self-determination increases, job satisfaction and commitment rises as well (Tremblay et al. , 2009). This study also supports that the WEIMS has the ability to predict positive and negative work experiences based on extrinsic and intrinsic motivations. Tremblay et al. (2009) did specify that although the found results are promising, further research is needed in order to determine if the WEIMS is useful in predicting future motivational behaviors based on this evaluation. Conclusion The use of psychological tests, such as the WEIMS, are able to provide employers with information that could potentially be used for improvement of overall work settings and ultimately the improvement of work performance. The use of the WEIMS by employers can contribute to a better understanding of of employee motivation and overall organizational functioning (Tremblay et al. , 2009). Increased motivation of employees is a critical asset in maximizing company profits in the current economy. With increased motivation of employees comes a more sufficient means of production, resulting in better quality and quantity of company products. Overall, psychological testing is able to assist employers in determining weaknesses in employees and the company. Using the results of testing to develop training strategies and programs to counteract negative feedback is vital in the improvement of any work setting. Psychological testing can also be used for positive feedback for the company, by using testing results to determine which employee traits work well for the success of that specific employer. The WEIMS, specifically, shows promising influence in determining both positive and negative aspects of employee motivation. This tool, if used correctly, has the potential to have a large impact on the way employers address overall motivation in the workplace.

Project management Essay Example | Topics and Well Written Essays - 1750 words - 1

Project management - Essay Example Objective of the project is cleaning the environment; in ensuring there is coordination among the project management team and the community the expectations from both sides should be aligned to eliminate any chance of conflict. The sponsors for the project were amazed by the number of activities that were to be conducted on separate occasions. On their side some activities seemed duplicated, though the differences were minimal. They resorted that those activities ought to be merged. The cost of the project would have been reduced by twenty percent, in that process. Chronological flow of the task was also to be altered and environmental conservation sensitization to take centre stage. The following is the work breakdown structure as recommended by the sponsors. The three divisions (marketing, product research and development, and policy) of the tourism agency will have to be aligned so as to meet the goal of developing the Competitive Intelligence System. The goal is to be met by both internal and external team. To iron out and difference for strategic alignment and coordination the teams will be meeting weekly. The key problem encountered in this project was the evaporation of the goals and assumption set to guide the project. Project to run smoothly its goal and assumption ought to be realistic and print a picture of what is happening on the ground. The project management team that was head by the research and development did not do its homework when designing the goals and assumptions for this project. A project like this one whose impact is national, it is prudent for the concern party to incorporate all factors surrounding the project planning and implementation processes. One of the assumptions was that the â€Å"proven technology† will be imported without extensive modifications. This cannot be the case for technological projects like implementation of a Competitive Intelligence System.

The Magna Carta Essay Example | Topics and Well Written Essays - 2250 words

The Magna Carta - Essay Example Historical records stated that King John considered these rights granted to the nobility are done under duress (National Archives and Records Administration, 2012, p. 1). Until these days, the Magna remained significant for human rights advocacies and for its defenders because this was the first document which challenged the monarchical power of the King and systemically becomes the legal foundation against feudal relations -- that ‘no man should be above the law (National Archives and Records Administration, 2012, p. 1).’ The document expressly stated, "No free man shall be seized or imprisoned, or stripped of his rights or possessions, or outlawed or exiled except by the lawful judgment of his equals or by the law of the land (National Archives and Records Administration, 2012, p. 1)." The Magna Carta has therefore dismantled the king’s feudal control over lands in England and its professed power of such elitist rule of the hierarchy where barons directly report to the King in the performance of their responsibilities (National Archives and Records Administration, 2012, p. 1). ... 1; Walenta, 2010, p. 1). At the utmost, these principles are embed in universal declaration of human rights and in the Constitution of United States of America. Mulligan (2004) opined that the Magna Carta also ushered positive reform in legislation of laws and paved for the restoration of legal and political institutions after that tragic period of civil strife and social degeneration brought by social inequities and tyrannical control (pp. 41-65). This was affirmed by King Henry I and those subsequent rulers. Expert scholars considered the document as the best enduring legacy to humankind because those principles strengthened the institutionalization of universal concepts of legal doctrines on judicial procedures that aided in the protection and promotion of civil rights. Franklin D. Roosevelt has succinctly expressed in his 1941 inaugural address when he stated that the Magna Carta is the written document that integrated the democratic aspiration in human history (National Archives and Records Administration, 2012, p. 1). When the Declaration of Independence was sealed and signed as the American Charters of Freedom in 1776, the great Fathers recognized the Magna Carta as the historical context in asserting their liberty from King George III and the English parliament (National Archives and Records Administration, 2012, p. 1). They honoured that meeting of 40 barons and King John 561 years earlier at Runnymede, now home of the Windsor Castle, where barons finally considered themselves as freemen and later became an inspiration for Americans. They have likewise earned the reconfirmation of Henry I’s Coronation Oath and hence limited the King’s access to resources and funds. At that time, this charter was only

About Prometheus Bound Essay Example | Topics and Well Written Essays - 500 words

About Prometheus Bound - Essay Example When asked Prometheus denied Zeus the information he held regarding who it would be that threatened the throne of Zeus, so as punishment he was bound by shackles to a great rock. In Prometheus Bound (n.d.), Prometheus must come to terms with his own limitations in power, but demonstrates that Zeus has limits as well. Prometheus was a god, but felt he had little influence in the matters of the Gods. Prometheus, known as the teacher of all arts, suffered at least partially because of his aid to humankind. Prometheus was fond of humans and, wishing them to flourish, took fire from the gods and gave it to the people. The fact that Prometheus cared deeply about the human race was in strong contrast to how Zeus felt, and was a main point of disagreement between the two. Prometheus described Zeus’s feelings toward humankind when he stated, â€Å"It was his wish to wipe out man [sic] and rear another race† (Aeschylus 6}. For this reason, Prometheus defied the divinity and super ior knowledge of Zeus. If Prometheus were given absolute power, he would be ensured that tyranny would fall and justice reign supreme over the gods and the human race.

What makes a good leader using Advocate leadership style Research Paper

What makes a good leader using Advocate leadership style - Research Paper Example This paper is going to be concerned with advocacy style which is the strongest from of leadership. Advocates are committed to accomplish whatever mission they have set out using all the available means. They take responsibility for failure and share success and would suffer for the sake of the group. The paper is going to argue that a leader using advocacy leadership style which is the norm in the social work can become a good leader by being assertive, dedicated, humble, flexible and able to use different strategies to get results. In addition he must possess skills such as capacity to inspire, communication skills, leading by example, self-awareness, able to manage conflict among others. Introduction Every successful organization has a successful leader behind it. The problem is that there has not been an agreement among theorists as to what constitutes successful leadership. The trait theorists would argue that it is the innate qualities of leaders that make them successful; the b ehaviorists would argue that it is the behavioral characteristics that make a leader to be effective while still others believe that effective leaders possess certain skills. For ages, we have heard many individuals from different organizations being named as great leaders; for example, Bill Gates and Nelson Mandela. What is leadership and what makes these leaders effective? This is what this paper will try to answer using the advocate leadership style. Effective Leadership Leadership is defined by Stanfield (2009 p. 5) as â€Å"directing behavior of others towards accomplishment of some common objective†. In other words, it is the ability to influence others towards an accomplishment of some set goal. Leadership is often used interchangeably with management or administration but the two concepts mean two different things. While leadership involves influencing people, management involves planning, organizing and controlling. A good manager needs to be a good leader but a good leader does not necessarily have to be a manager. Some people become leaders due to their power to influence or charisma and not because they have management skills. However, good management skills can help in becoming an effective leader. Organizations require good leaders in order to function effectively and beat competition. There are many types of leadership in organizations such as the idealists, diplomats, mentors, achievers, innovators, enthusiasts, and advocates (Northouse, 2010). All of them have different styles of leading but the focus will be on the advocates. The advocate type of leaders according to Kirst-Ashman and Hull (2012, p. 207) are highly committed to the goals of the organization and are most of the times skilled administrators. These are the strongest leaders in any organization as they handle a great deal of responsibility without being too dominating. Moreover, they take their responsibility very seriously and would go to great heights to ensure organizati onal goals or the group missions are achieved (Stanfield, 2009). They are thus willing to suffer for the sake of the team provided they get to where they are heading to. They also do not avoid conflicts and take tasks head on. They are willing to take responsibility for any failures or mistakes but when it comes to achievements, they are shared among all members. Kirst-Ashman and Hull (2012) also consider such leaders as straight-forward and have great concern for the well being of all members in the organization. All these attribute make advocates great leaders and their style is most needed especially in social work where great deal of advocacy is required. So what makes a

Offenders and Psychology Coursework Example | Topics and Well Written Essays - 1000 words

Offenders and Psychology - Coursework Example In the Table â€Å"Profile Characteristics of Disorganized Asocial Offenders† it is evident that there are a number of characteristics, which are appropriate in the process of offender personality’s studies. The status of the personalities in their communities is determined with respect to the following features: they have a limited intelligence, are involved in unskilled work and have a few contacts with other members of the community. These persons show the following types of post-offense behavior, such as turning to the place, where the crime was committed; having a visual collage of criminal events etc. After that, when the crime was committed, a disorganized criminal can hardly change a place of his residence, because he is used to his familiar environment. It is possible to differentiate a disorganized asocial offender from the organized nonsocial offender. The former offender would commit his crimes at night, as a rule. For this type of offenders, it is very impo rtant to be understood and supported. Establishment of positive relationship with this personality is very beneficial in the process of investigation. Moreover, the interviews are more effective with these offenders at night, when it is their â€Å"best time†. The features of the organized nonsocial offender can be interpreted in the following way: this type of the offender would be more organized in his daily life. They are lonely persons and they do not want anyone else around them. These persons have an average level of intelligence and they can be active members of the society. These offenders can have his personal relationship and he can even make a good impression (Interview with S. Milena Halterman, 2010). This type of offenders can go to many other places, which are far away from their neighborhood. Post-offense behavior of the organized nonsocial offenders is as follows: he is interested in the consequences of the crime, committed by him. Moreover, â€Å"organized  crime  scenes  reflect  a  high  level  of  control  by  the  offender  where restraints  are  used  and  the  body  is  disposed  of  in  a  thought out  manner, usually  transported  to  another  location  from  where  the  murder  took  place† (Holmes& Holmes, 2009). During the interview sessions, it is relevant to confront these offenders directly, because they are afraid of direct facts. A single-interview strategy is one of the most appropriate for them. These offenders can tell everything sincerely during the interviewing. Therefore, it is appropriate for the criminologists to focus on the peculiar personal features of the offenders in order to determine possible options of serial crime prevention and a proper investigation conduct of every particular case. Thus, the modern paradigm of criminology should be focused on researches and studies, which are concentrated on the peculiar aspects of offendersâ⠂¬â„¢ behaviors. Question 2 In the modern paradigm, it is very important to know that there is a strong relationship between social and psychological issues of the criminals and the actions committed by them. Psychological  profiling has been developing since 1940 and this field was developed for investigation of serial crimes (Schlesinger 2009). The basic points, outlined in this field of study are: characteristics of the  offender,  time factors, modus  operandi, offender’s  and  signature and  staging (Holmes & Holmes, 2009).  There is a great need to take into account organized vs.  disorganized