The Meaning of Success Essay -- Expository Essays

The Meaning of Success Success has to do with having the freedom to make choices and being the person we want to be. Even though each of us determine what success is, we can follow some factors for having a successful life. The first factor is hard work and discipline. Achieving what can be termed as a major triumph such as success in our work or personal victory after a long, hard slog can bring a wonderful sense of happiness when we get to the peak. This climb to success can be difficult in terms of maintaining the discipline needed to achieve the ultimate task and is more suited to those brave souls who are prepared to live on the edge and do anything it takes to achieve their goals. Probably the biggest key to success is dogged determination. Every successful person has failed, most h... The Meaning of Success Essay -- Expository Essays The Meaning of Success Success has to do with having the freedom to make choices and being the person we want to be. Even though each of us determine what success is, we can follow some factors for having a successful life. The first factor is hard work and discipline. Achieving what can be termed as a major triumph such as success in our work or personal victory after a long, hard slog can bring a wonderful sense of happiness when we get to the peak. This climb to success can be difficult in terms of maintaining the discipline needed to achieve the ultimate task and is more suited to those brave souls who are prepared to live on the edge and do anything it takes to achieve their goals. Probably the biggest key to success is dogged determination. Every successful person has failed, most h...

Learning Disability Case Study Essay -- Psychological Assessment

A psychological assessment is a fundamental aspect in measuring intellectual disabilities (Drew & Hardman, 2007). Information provided from partaking in an assessment includes severity of the disability and an understanding of the individual’s limitations as a result of the disability (Drew & Hardman, 2007). Knowledge of these elements, as explained by Drew and Hardman, aid in determining the necessary supports required by the individual to help them cope with the disability. It is important that the assessment measures both cognitive and adaptive aspects of an individual’s functioning because, â€Å"Mental retardation is a disability characterized by significant limitations both in intellectual functioning and in adaptive behaviour as expressed in conceptual, social, and practical adaptive skills† (Drew & Hardman, 2007, p. 19). Once an assessment of these areas has been completed an individual may be identified as having an intellectual disability. Information discovered by the assessment may lead parents to feel a sense of relief knowing the reason behind their child’s struggles (Lerner & Johns, 2012). With an identification the information collected from the assessment helps professionals provide better care and support to the child and their family (Drew & Hardman, 2007). Identification also leads to increased legal rights of a child for special education and access to essential supports and services (Lerner & Johns, 2012). Unfortunately, the results for an assessment may not be completely accurate, nor fully capture the child’s true performance capabilities (Drew & Hardman, 2007). Also, a diagnosis entails a label and Lerner and Johns (2012), explain that such labels can harmful for children. This diagnostic la... ...are or after their death. This planning will ensure that the child will be prepared for a life without parents to fall back on for support. Works Cited Drew, C., & Hardman, M. (2007). Intellectual Disabilities Across the Lifespan (9th ed). Upper Saddle River, N.J.: Pearson. Hallahan, D. P., Kauffman, J. M., McIntyre, L. J., & Mykota, D. (2010). Exceptional learners: An Introduction to special education. Canadian Edition. Toronto, ON: Pearson Education. Harwell, J., & William Jackson, R. (2008). The Complete Learning Disabilities Handbook: Ready-to-Use Strategies & Activities for Teaching Students with Learning Disabilities (3rd ed.). San Francisco, CA.: Jossey-Bass. Lerner, J. W, & Johns, B. H. (2012). Learning disabilities and related mild disabilities: teaching strategies and new directions (12th ed.). USA: Wadsworth Cengage Learning.

Practical critical essay on ‘Jude’ Part 6 Ch.2. Essay

Little Father Time has just hanged himself and the other two children. Jude and Sue have just come across this scene of horror. Hardy cuts â€Å"upon the floor, on which was written, in the boy’s hand, with the bit†¦ † into short segments with commas giving the narration a breathless effect. It demonstrates Jude and Sue’s feelings towards the scene they have just witnessed. These commas also fashion the sentence as if it were being spoken by a child. There is no complex diction in this passage so it reflects the innocence of the children involved, which is quite a contrast from the adult and gothic language such as â€Å"half paralyzed† and â€Å"grotesque and hideous horror† used in the last paragraph. There is a pattern that emerges so whenever the narrator describes the scene (usually the most horrific parts), he uses simple, unadorned, monosyllabic words, i. e. â€Å"the little bed†, and – placing the negative first – â€Å"no children were there†. However, when describing the parents’ reaction, he uses more complicated and descriptive lexis. This gives rise to an unnerving, disturbing feeling for the reader. The note written to Jude and Sue by Little Father Time, â€Å"Done because we are too menny† explains clearly, why he had performed this task. This is a succinct, poignant note written with what is either no feeling whatsoever or overwhelming but repressed emotion. However, â€Å"menny† indicates the pure innocence and child-like quality of Little Father Time and it shows us the level of his education. ‘Menny’ incorporates the word ‘men’ and his ignorance of spelling may signify his ignorance of the ways of man. Perhaps in the word ‘Done’ there is a resonance of Macbeth’s â€Å"If it were done when ’tis done† (Act I scene VII) emphasizing the horrific finality and decisiveness to Little Father Time’s actions. Sue provoked Little Father Time into reflecting along these lines of their being too many of them due to her conversation with him in the last few pages. He asks, â€Å"It would almost be better to be out o’ the world than in it, wouldn’t it?†, and she off-handedly replies, â€Å"It would almost, dear. † This careless reply and its tragic ramification is a result of Sue’s narcissism and the solipsistic nature of both the parents towards Little Father Time. The language now becomes more elaborate and graphic as the children are no longer mentioned and the following paragraphs concern merely Jude and Sue. Sue realizes her careless words were responsible for Little Father Time’s actions. Her ‘convulsive agony’ that â€Å"knew no abatement† is powerfully personified, and implies that she is in the grip of someone who refuses to let go. The syntax, ending in the stark phrase â€Å"no abatement† makes Sue’s feeling even more infinite and absolute. She is so distraught that the woman of the house is â€Å"vainly trying to soothe her†, with her â€Å"eyes staring at the ceiling†. She seems to be undergoing an out-of-body experience. She is not to go upstairs because â€Å"her presence might do harm†; the intensive shock may also lead to endangering â€Å"a coming life†, her unborn baby would be the only child left in her life. Sue confesses she believes herself responsible for this and Jude replies â€Å"It was in his nature to do it†¦unknown in the last generation†: This is an allusion to a number of views and theories. Thomas Malthus published â€Å"An essay on the principle of population† in 1798. In it he argued against population growth. He believed that if one cannot afford to raise children, one should not bring them into the world. Jude quotes the doctor who says that such boys were not heard of in the last generation. Here, Darwin’s ‘The Origin of Species’ (1859) is being alluded to. Darwin proved humans are not special creatures chosen by God, but instead, simply animals that are highly evolved and well adapted to their surroundings. Hardy stresses the way that Little Father Time had struck at the conventional views of Victorian family life and instead of having the typical morals of a little boy, believed that survival was more important than family values. I believe that Little Father Time is in a sense more ‘highly evolved’ than Jude – Jude attempted to commit suicide and failed. Little Father Time however, did so – he is a child brought up without love. The use of the words â€Å"springing up† make this new type of child seem linked to regeneration, growth, felicity and seasonality, but in fact they bring death and are the product of â€Å"new views of life†. Of course Sue herself is a product of such views which perhaps have affected Little Father Time subconsciously. He never shows any signs of hope, happiness, excitement and general strong emotions until his last conversation with Sue, and even then he gives us no impression that he is going to murder his brother and sister and commit suicide. The child is an example of â€Å"the coming universal wish not to live† Jude states bleakly. This phrase demonstrate the thematic pessimism in the narrative, the apocalyptical nature of Little Father Time, and the fast approaching, universal nihilistic views of the end of the century. At the end of Jude’s version of the doctor’s analysis of Little Father Time, the text ends with an aposiopesis: â€Å"consolations to -â€Å". Jude’s composure cracks. Ironically, Jude stops short just as he mentions, â€Å"(the doctor) can give no consolation†, the phrase ‘no consolation’ extends Hardy’s apocalyptic theme of lack of hope. We find out Jude has composed himself for Sue, but could do so no longer, and in her efforts to comfort him, â€Å"distracted her from her poignant self-reproach†. Hardy describes what Sue sees when she is allowed to finally see the children. Little Father Time’s face â€Å"expressed the whole tale of their situation† which is clearly, death, despair, struggle, lack of love, and lack of hope. Linking the boy’s face to their situation describes them both perfectly well without describing either. The use of simple, unadorned language describing the boy as a ‘little shape’ shows us that the small boy is not yet defined, he is not yet delineated; he dies young and unformed. Hardy writes that in Little Father Time he â€Å"had converged all the inauspiciousness of Jude†. The child’s corpse conveyed the suggestion of the tragedy, despair and death that was looming in his relationship with Arabella, as well â€Å"all the accidents†¦ errors of the last†; the potent and tragic element of fate is stressed. Little Jude’s description as his parent’s ‘nodal point’ demonstrates that he is an entanglement where ‘inauspiciousness’ and the lack of love have become enmeshed. The paragraph concludes with a tricolon, â€Å"For the rashness of those parents he had groaned, for their ill-assortment he has quaked, and for the misfortunes of these he had died†. This relates to Jude’s relationships with Arabella and Sue, and Little Father Time’s short life; it is a conclusive and tragic summation of Little Father Time’s short life and tragic end. This scene hints at Hardy’s disaffection with God, and when Jude and Sue overhear the psalm â€Å"Truly God is loving unto Israel† we realize this disaffection is very tangible.

“Harrison Bergeron” Versus “2081” Essay

There are many similarities between Kurt Vonnegut’s short story â€Å"Harrison Bergeron† and Chandler Tuttle’s short film adaptation â€Å"2081†. Obviously the same basic idea and theme are prevalent throughout both the stories. They are both set in the future where everyone is made equal by being forced to wear handicaps where they might show strength. Both of the stories involve the same characters in the same settings under mostly the same circumstances. The short film adaptation may vary a little bit in some of the details but for the most part both of the stories are exactly the same. In the beginning of â€Å"2081† the narration of the story is exactly the same as the beginning of Harrison Bergeron. Chandler Tuttle took it word for word straight from the short story. There are many differences between â€Å"Harrison Bergeron† and â€Å"2081† but they are mostly small details and do not change the story much. The first difference that I noticed when I watched â€Å"2081† was that instead of wearing bags filled with lead balls around their necks, the characters wore futuristic computer devices with a flashing display on them. The next subtle detail that I noticed was when George, one of the main characters, heard a loud noise coming through his earpiece in the beginning, it was Hazel who had suggested that it had sounded like a milk bottle being stuck by a ball peen hammer instead of George. One of the bigger differences between the two stories is the conversation between George and Hazel in the beginning of the story. In â€Å"Harrison Bergeron† when Hazel suggests to George that he rest his handicap weights on the pillows for a while, George responds by saying that he doesn’t mind them because he has worn them f or so long that he’s become accustomed to them. He then proceeds to explain to Hazel that if he tried to get away with it then other people would try to get away with it as well, and that would lead to everyone being against each other again and eventually to the dark ages. Hazel resounds that she would hate it if that were the case. However in the short film â€Å"2081† when Hazel suggests that George rest his weights for a while, George responds only implying that he himself would not be equal to Hazel to which she responds she would hate that. Also in the short story Harrison is arrested at age fourteen and escapes at age fourteen but in the short film the story takes place six  years after Harrison was arrested. The final main difference between â€Å"Harrison Bergeron† and â€Å"2081† is the â€Å"bomb†. In the short film adaptation when Harrison escapes from jail and bursts into the ballet he claims that he has a bomb stored under the theater and the detonator in hand. When the H-G men cut off the broadcast to the incident, Harrison presses the detonator button, revealing to the audience that the bomb was in fact a device that sent out the television broadcast once again. In the short story there is never any mention of any such device. There are many differences and many similarities between the short story â€Å"Harrison Bergeron† and the short film â€Å"2081†. However, throughout both stories the same theme remains prevalent throughout the entire stories conveying to the audience the same message, showing the beauty and necessity of diversity.

Inclusive Practice Essay

Inclusive Practice is a term which means the practical things that we do, when we are working with people who use our services, which demonstrate our professional values, standards, and principles in action. In particular Inclusive Practice is about participation, collaboration, and including people: where individuals are fully involved in choices and decisions that affect their lives and in the matters that are important to them. People who use mental health services say that being listened to, having their individual needs taken account of, and staff attitudes and values is a very important part of keeping well (Dunglas Research Project, 2005). The experience of participation is often as important as the end result. Participation itself may be an outcome. Inclusive Practice can benefit staff through sharing knowledge and learning new and effective ways of working with people. People who use services bring new ideas, and we are able to respond from a more informed position. Inclusive Practice is good practice, and is also about a human rights and anti-discriminatory approach to mental health. Inclusive practice underpins anti-discriminatory practice and is the practical way in which we put our equality policies/agenda into action. * The learners. All learners are citizens and have rights and entitlements. They should be treated fairly regardless of race, religion or abilities. This applies no matter: – what they think or say – what type of family they come from – what language(s) they speak – what their parents do – whether they are girls or boys whether they have a disability or whether they are rich or poor. All learners have an equal right to be listened to and valued in the setting. * Equality and diversity My understanding of diversity is broad – it encompasses gender, race, age, disability, linguistic differences, learning abilities, sexual orientation, socio-economic status and cultural background and so much more. Inclusive practice is understood to be attitudes, approaches and strategies taken to ensure that students are not excluded or isolated from the learning environment because of any of these characteristics. As a tutor, my role is to ensure that all students feel welcome, accepted, safe, listened to, valued and confident that they can participate in all activities. I need to be sensitive to the needs of all students. I am the protagonist in setting the culture of my tutorial and thus able to set parameters for creating a learning culture which recognises and honours student diversity. I have very diverse groups of students in my lessons. My approach to this as a tutor is influenced by my own experiences and assumptions and, in some instances, those of other students. It is useful to reflect on this, as perhaps I may carry some negative or fixed ideas into the classroom. I need to be aware (beware) of my own generalisations and stereotypes and those perpetuated by others. I consider these suggestions for inclusive teaching: – When I ask a question, I make eye contact with all students – When listening to a response, I listen attentively – I treat each student as an individual – I call on all students by name where possible – I make an effort to learn names – I intervene when students show disrespect for another student – I use small groups to foster collaborative learning I encourage students to share their varied perspectives and experiences & create a supportive environment in which this can occur – I encourage students to know and listen to each other. – I avoid stories, jokes and comments that denigrate others * Lesson planning The group of learners I teach is a group of individual s who have own needs and abilities as far as learning is concerned. While planning a lesson I take into consideration learners’ needs and their ability to perform during the lesson. To maximize learning opportunity for individuals I differentiate the lesson so that each of learners is not left behind and has a chance to learn something from a lesson. Considering learners’ previous educational experience and various teaching and learning strategies I create a lesson plan to facilitate a learning opportunity. * Teacher as a motivator As mentioned above, being prepared for a lesson through carefully designing lesson plan, a teacher motivates learners to participate in the lesson. Teacher’s attitude is also crucial. Being enthusiastic and positive to what he/she is teaching places learners in a position to class a teacher as an expert of the subject he/she is teaching. Constructive feedback and being a good listener ensures learners that they were listened to. To become a successful teacher, a candidate needs to take interests in learners, needs to find a connection with them by being approachable and accessible at any time they need him. Getting learners involved in the lesson and encouraging them to help each other reinforces their learning and helps to check if they know what they are doing. A teacher is responsible for providing a challenging but supportive learning environment so learners can see how much they know and what skills they need to develop. Using a range of teaching strategies and audio visual aids provides variation to a lesson and helps to deliver it to learners in a meaningful way. References: Dunglas Research Project, 2005 Reece I & Walker S (2003) Teaching, Training and Learning Roffey-Barentsen J & Malthouse R (2009) Reflective Practice in the Lifelong Learning Sector. Learning Matters.

China and Usa: a Comparison of Their Monetary Policies

University of International Business and Economics China and USA: A comparison of their Monetary Policies. Mid-term Project School of International Trade and Economics BY Rebecca Bogiri Professor: LIN GUIJIN Beijing, China 2 December 2009 China and USA: A comparison of their Monetary Policies. By: Rebecca Bogiri December 2009 Abstract The monetary policies of USA and China is analyzed here from the perspective of their implementing bodies, their choice of instruments, and their means of setting their interest rates. The analysis reveals that there are immense differences between the two countries resulting from the nature and degree of influence from their respective domestic political systems. The paper concludes that China has a complex political economy that represents a hybrid of private ownership and state control. Therefore unlike the USA, its monetary policies are subject to political influence. Keywords: Monetary policy; Monetary policy instruments; Balance Sheet; China; USA Author’s email: becky. [email  protected] com ContentsPage Abstract †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 USA Monetary Policy †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 China Monetary Policy †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 Comparison of China and USA’s monetary policies †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦. 10 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 11 1. Introduction Monetary Policy is the process by which the government, central bank, or monetary authority of a country controls (1) the supply of money, (2) the availability of money, and (3) the interest rate, in order to attain a set of objectives oriented towards the growth and stability of the economy. This paper refers the above theme to two countries: China and USA. As such, there are three broad objectives. The first is to discuss monetary policy generally as carried out in the USA. The second is to discuss monetary policy generally as it is carried out in China. The third is to compare and analyze the way monetary policy is implemented in the two countries. 2. USA Monetary Policy How is the Federal Reserve structured? The Federal Reserve System (called the Fed, for short) is the nation's central bank. It was established by the Federal Reserve Act[1] and consists of the Board of Governors in Washington, D. C. , and twelve Federal Reserve District Banks. The Congress structured the Fed to be independent within the government. Therefore although the Fed is accountable to the Congress and its goals are set by law, its conduct of monetary policy is insulated from day-to-day political pressures. This reflects the conviction that the people who control the country's money supply should be independent of the people who frame the government's spending decisions. What makes the Fed independent? Three structural features give the Fed independence in its conduct of monetary policy: the appointment procedure for Governors, the appointment procedure for Reserve Bank Presidents, and funding. Appointment procedure for Governors:  The seven Governors on the Federal Reserve Board are appointed by the President of the United States and confirmed by the Senate. Independence derives from a couple of factors: first, the appointments are staggered to reduce the chance that a single U. S. President could â€Å"load† the Board with appointees; second, their terms of office are 14 years–much longer than elected officials' terms. Appointment procedure for Reserve Bank Presidents: Each Reserve Bank President is appointed to a five-year term by that Bank's Board of Directors, subject to final approval by the Board of Governors. This procedure adds to independence because the Directors of each Reserve Bank are not chosen by politicians but are selected to provide a cross-section of interests within the region, including those of depository institutions, nonfinancial businesses, labor, and the public. Funding:  The Fed is structured to be self-sufficient in the sense that it meets its operating expenses primarily from the interest earnings on its portfolio of securities. Therefore, it is independent of Congressional decisions about appropriations. How is the Fed â€Å"independent within the government†? Even though the Fed is independent of Congressional appropriations and administrative control, it is ultimately accountable to Congress and comes under government audit and review. Fed officials report regularly to the Congress on monetary policy, regulatory policy, and a variety of other issues, and they meet with senior Administration officials to discuss the Federal Reserve's and the federal government's economic programs. The Fed also reports to Congress on its finances. Who makes monetary policy? The Fed's FOMC (Federal Open Market Committee) has primary responsibility for conducting monetary policy. The FOMC meets in Washington eight times a year and has twelve members: the seven members of the Board of Governors, the President of the Federal Reserve Bank of New York, and four of the other Reserve Bank Presidents, who serve in rotation. The remaining Reserve Bank Presidents contribute to the Committee's discussions and deliberations. In addition, the Directors of each Reserve Bank contribute to monetary policy by making recommendations about the appropriate discount rate, which are subject to final approval by the Governors. Objective of Monetary policy Monetary policy has two basic goals: to promote â€Å"maximum† sustainable output and employment and to promote â€Å"stable† prices. These goals are prescribed in a 1977 amendment to the Federal Reserve Act. In the long run, the amount of goods and services the economy produces (output) and the number of jobs it generates (employment) both depend on factors other than monetary policy. These factors include technology and people's preferences for saving, risk, and work effort. So, maximum sustainable output and employment mean the levels consistent with these factors in the long run. But the economy goes through business cycles in which output and employment are above or below their long-run levels. Even though monetary policy can't affect either output or employment in the long run, it can affect them in the short run. For example, when demand weakens and there's a recession, the Fed can stimulate the economy temporarily and help push it back toward its long-run level of output by lowering interest rates. That's why stabilizing the economy, or smoothing out the peaks and valleys in output and employment around their long-run growth paths—is a key short-run objective for the Fed and many other central banks. USA Federal Reserve – Balance Sheet |ASSETS |LIABILITIES |Gold and Foreign Exchange |Currency | | |Held by public | | |Vault cash | |Federal Reserve Credit |Bank Deposits | |Loans & Discounts | | |Government Securities | | |Other credits | | Source: Federal Reserve Bulletin, May 1996. Monetary policy instruments The Federal Reserve has three instruments for controlling the money supply. They are: 1. Open Market Operations 2. The discount rate; and 3. The required reserve ratio. When using Open market operations, the Fed buys or sells government securities to affect the leve l of the money supply. For example, if the Fed wishes to increase the money supply by $2 million, it will purchase government securities worth $ 2 million. The Fed’s assets increase by $ 2 million under the securities heading. In order to pay for the government security, the Fed writes a check on itself. In return for the bond, the seller receives a check instructing the Fed to pay the seller $ 2 million. The seller then takes the check to his bank, which credits the depositor with $ 2 million, and then deposits the check at the Fed. The bank has an account with the Fed, which is now credited with $ 2 million. Thus the Fed’s liabilities increase by $ 2 million under the heading of bank deposits, as the commercial bank has just increased its reserves by $ 2 million which are held by the first instance as a deposit at the Fed. Another monetary policy instrument used to affect the level of the money supply is the Discount rate, which is the interest rate charged by the Fed to banks that borrow from it to temporary needs for reserves. Increasing the discount rate discourages banks from borrowing from the Fed, while lowering the rate encourages banks to borrow from the Fed and thus increase the money supply. The required reserve ratio refers to the percentage of total deposits that the Fed requires individual financial intermediaries to keep at the Fed as reserves. The significance of the required reserve ratio is that it affects the money multiplier, and thus the level of the money supply. For example, if the Fed wants to increase the money supply, it can do so by reducing the required reserve ratio. Because there are now less reserves and more money is available for the banks to be able to meet their customer’s demand for cash. This increases the money multiplier, which also has a positive effect on the level of the money supply. Required reserves do not pay any interest, so increases in the required reserve ration has undesirable side effects on bank profits. Open market operations are nearly always the favored tool of choice by the Fed. The Fed Open Market Operations in 2008 summarizes all monetary policies and tools used by the Fed for that year. The two tables below shows the changes in the federal funds target rate, and the primary credit rate, and the interest paid on the required reserves and excess reserve balance.. These were operational measures taken by the Fed to influence the Federal funds rate. It is evident that the Fed rapidly and continually decreased the federal funds rate and the primary credit rate throughout 2008. Furthermore, on October 8th 2008 the Fed started to pay interest on despository institutions’ required and excess reserves balances as authorized to under the Financial Services Regulatory Relief Act[2]. [pic] [pic] 3. China Monetary Policy Body in charge of Monetary Policy: Monetary policy in China is conducted by the People’s Bank of China. Article 12 of the Law of the People? s Republic of  China  on the People? s Bank of China provides † the People? s Bank of China is to establish a monetary policy committee, whose responsibilities, composition and working procedures shall be prescribed by the State Council and shall be filed to the Standing Committee of the National People? s Congress. The Monetary Policy Committee shall play an important role in macroeconomic management and in the making and adjustment of monetary policy. â€Å" Rules on Monetary Policy Committee of the People? s Bank of China stipulates that the Monetary Policy Committee is a consultative body for the making of monetary policy by the PBC, whose responsibility is to advise on the formulation and adjustment of monetary policy and policy targets for a certain period, application of monetary policy instrument, major monetary policy measures and the coordination between monetary policy and other macroeconomic policies. The Committee plays its advisory role on the basis of comprehensive research on macroeconomic situations and the macro targets set by the government. The Monetary Policy Committee is composed of the PBC? Governor and two Deputy Governors, a Deputy Secretary-General of the State Council, a Vice Minister of the State Development and Reform Commission, a Vice Finance Minister, the Administrator of the State Administration of Foreign Exchange, the Chairman of China Banking Regulatory Commission, the Chairman of China Securities Regula tory Commission, the Chairman of China Insurance Regulatory Commission, the Commissioner of National Bureau of Statistics, the President of the China Association of Banks and an expert from the academia. The Monetary Policy Committee performs its functions through its regular quarterly meeting. An ad hoc meeting may be held if it is proposed by the Chairman or endorsed by more than one-third of the members of the Monetary Policy Committee. Objective of Monetary policy: The main objective of the Chinese monetary policy is to maintain the stability of the value of the currency (the Renminbi), and thereby to promote economic growth. People’s Bank of China – Balance Sheet ASSETS |LIABILITIES | |Credits to FI |Deposits of FI | | |Central Bank Reserves | | |Excess Reserves | |Foreign Exchange Reserves |Central Bank Bills | |Securities |Deposits of Treasury | | |Currency in Circulation | Source: AE502 Macroeconomic Analysis Monetary Policy Instruments The People’s Bank of China in conducting Monetary policy has several instruments at its disposal which include: 1. The reserve requirement ratio 2. The Central Bank base interest rate 3. Rediscounting 4. Central Bank Lending 5. Open Market Operations 6. Other policy instruments as specified by the State Council In essence, the monetary instruments listed above correspond to the descriptions given under the Fed’s monetary policy heading. However, the main tool of choice for the PBC is the reserve requirement ratio. For example, in the PBC 2008 Annual Report on Monetary Policy it was reported that in order to sterilize excess liquidity in the first half of 2008, the reserve requirement ratio was decreased cumulatively by 3 percentage points on 5 occasions. Furthermore, a lower required reserve ratio was applied to rural credit cooperatives (RCCs) and financial institutions in the quake-hit areas. Furthermore, in the second half of 2008 with the heightened international turmoil and in order to ensure ample liquidity in the banking system, the PBC further reduced the required reserve ration of financial institutions on another four occasions resulting in a cumulative decrease of 2 percentage points for large financial institutions, and a cumulative decrease of 4 percentage points for smaller financial institutions. According to PBC calculations, by the end of 2008 a total of 800 billion yuan of liquidity was released into the economy. The choice of the reserve requirement ratio as the mail policy instrument is not coincidental to China which runs a high current account surplus. There is a large and growing demand for the RMB, and to maintain the RMB at the desired level the PBC issues RMB to meet this demand thereby increasing the money circulating in China. To keep inflation and economic growth under control, the PBC sterilizes its foreign exchange market interventions by buying back some of the RMB it issued to buy US dollar. In particular, it does so by selling low yield government securities to state-owned banks. So far, the banks have been able to absorb those low yield bonds in part because the interest rates paid on them bank deposits are also maintained at artificially low rates. Nonetheless, the increases in foreign reserves are not fully neutralized. Over the last five years broad money supply in China has been growing at above 15% per annum while real economic growth has averaged about 10. 5%. [3] Furthermore unlike more developed market economies, China is reluctant to raise domestic interest rates to slow its domestic growth. Doing so might mean attracting more capital inflows, which would in turn, require further money issuance to stabilize the exchange rate. That is precisely why the PBC instead changes the reserve requirement ratio on an ongoing basis to control the expansion of money and credit. 4. Comparison of China and USA’s monetary policies There are three main differences between China and the United States where monetary policy is concerned: independence of the monetary policy implementing body, choice of instruments to use in implementing monetary policy, and direct or indirect means of setting interest rates to effect monetary policy. Furthermore, these three differences are inter-related and country specific. The first major difference between the Federal Reserve System (the Fed) and the People’s Bank of China (PBC) concerns their independence from national politics. The intention of Congress when designing the Federal Reserve Act was to keep politics out of monetary politics. The Fed is totally independent of other branches and agencies of the government. Furthermore, it is self financed and therefore is not subject to the congressional budgetary process. On the other hand, the PBC is not independent from national politics in China. The PBC reports directly to the State Council which serves as China’s cabinet as well as its highest executive body. Moreover, monetary policy in China is aimed at limiting the appreciation of the renminbi (RMB), while eeping economic growth at a sustainable pace and inflation under control plus preserving a fragile banking system. The Fed in contrast implements a monetary policy that has a dual objective of maximum employment and price stabilit y. The second difference regards the choice of the monetary policy instruments used by the Fed as opposed to the PBC. The choice of instruments used in implementing monetary is essentially the same, except that the PBC has the an additional instrument; namely â€Å"additional instruments as specified by the State Council. † It is therefore no surprise that this ‘extra instrument’ arises from the lack of independence on the part of the PBC. The third difference between the Fed and the PBC lies in the way they set the interest rates. The Fed sets its federal funds rate indirectly by setting a specified target rate and then using the the tools of monetary policy (open market operations, discount window lending, and reserve requirements) to achieve that target rate. As a result, the changes in the federal fund rates trigger a chain of events that affect other short term interest rates, long term interest rates, the amount of money and credit in the economy, plus other macro-economic variables such as employment, growth and the prices of goods and services. In contrast, the PBC has a direct influence on its interest rate because of the extra instrument described above. Because there is provision for other policy instruments as specified by State Council, this allows the PBC to set interest rates directly, and thus have a direct impact on the its balance sheet. 5. Conclusion There are major differences in monetary policy and central banking in China and the USA. China has a complex political economy that represents a hybrid of private ownership and state control. Therefore, the PBC’s monetary policies, choice of instruments and methods of implementation are quite different from that of the Fed. Monetary policy in China aims at curbing the appreciation of the RMB while keeping economic growth at a sustainable pace, inflation under control, and preserving a fragile banking system. This is contrasted with the Fed’s monetary policy with the dual objective of maximum employment and price stability. Different monetary policy objectives, coupled with the degree of political independence on the part of the Fed and the PBC greatly influence the choice of instruments used and the method of implementing monetary policy in the two respective countries. 6. References Federal Reserve Bank of New York Domestic Open Market Operations During 2008 Federal Reserve Bank of New York: â€Å"Annual Report Domestic Open Market Operations during 2008† Federal Reserve Statistical Release 19 November 2009 Ian Sheldon, â€Å"US-China Trade Policy: Who gains from a rise in the Yuan? † at http://aede. osu. edu/programs/Anderson/trade Luc de Wulf and David Goldsbrough, â€Å"The Evolving Role of Monetary Policy in China†, IMF Staff Papers WP/04/125 Michael Moskow and Cathy Lemieux â€Å"China up close: Understanding the Chinese economy and financial system†, at www. chigacofed. org People’s Bank of China Monetary Policy Annual Report 2008 Peter Stella, â€Å"The Federal Reserve System Balance Sheet: What Happened and Why it matters† IMF Staff Papers WP/09/120 Financial Services Regulatory Relief Act 2006 (USA) Federal Reserve Act 1913 (USA) Law of the People’s Republic of China on the People’s Bank of China 1995 (China) http://www. frbsf. org/publications/federalreserve/monetary/structure. html http://www. pbc. gov. cn/english/huobizhengce/MPC. asp http://en. wikipedia. org/wiki/Monetary_policy ———————– [1] 1913 [2] 2006 [3] China close up (2008)

Something relate to Visual Culture and Institutions of Meaning Annotated Bibliography

Something relate to Visual Culture and Institutions of Meaning - Annotated Bibliography Example Historically â€Å"culture† it is understood to be something that influenced the separate of the elite from the rest of the world. (Mitchell) In addition, it has inextricably linked to how people theorize the visually and visual. Visual culture spans in most different Medias. Photography, digital media, industry of medicine, film, television, fashion, advertisement, also signage can be seen as visual culture. Communication is the passing of information from one party to the other. In the world, communication is the only way of passing information between two parties; however barrier associated with communication hinder its efficiency. Communication and cultural industry make a full theoretical approach to the social, political and culture effects of film, music, video, television radio and digital â€Å"content producers† in the postindustrial economies. (Rampley, 124). The traditional culture and the modern culture highly differ in a number of ways. In the traditional culture lied more to a formal way of communication in comparison to the modern one that consist both formal and informal ways. Rampley says that the industry’s support and regulation are influenced by interactions among legal technologies and regulatory matrixes. Rapleys information’s is reliable as he says that through visual culture, there are many things happening for many reasons and in different ways. For instance, published images of journals, magazines and advertisements. Analysis of these models against the contextual background is interpreted as either political leanings or implied meanings. By the advertisement, we can observe all sorts of cultural juxta-positioning each classical art against robots. The use of digital media for example cell phones, iPods create the unprecedented speed of image transmission and proliferation. ( Rampley, 200). This reliable source dates