Nores vs Greek Essay Example For Students

The 1970s vs. 2000s Free Essays

Numerous investigations have demonstrated that individuals see the world with 80 milliseconds of postponement, which implies that we live 80 milliseconds behind the real world; this is on the grounds that there is some exchange time from our faculties to our mind (Meyers 7). The separation between the ages have diverse authentic encounters, responses of later ages about majority rules system, financial aspects, music, style, as the transformations were taking in all viewpoints. The contrasts between ages have their own significance; in any case, we can thoroughly analyze them, somewhere in the range of 1970s and 2000s in three perspectives : music, patterns and innovation. We will compose a custom exposition test on The 1970s versus 2000s or then again any comparable subject just for you Request Now During the 1970s, individuals appreciated music by radio, tapes, live shows and brought vinyl records, though during the 2000s through programming, for example, Spotify and Itunes are utilized, Youtube permits crowds to get to a wide scope of music from various types and downloading music from on the web. Then again, in the1970s music was showcased by method of the craftsman gigs being publicized in papers, the band would play live on music programs and furthermore visiting was an essential methods for advancement, while during the 2000s a few specialists part with free blend tapes, TV adverts and online site pages (Rodriguez 94). As instances of specialists having a place with the 1970s can choose: Bee Gees, Elton John and ABBA; interestingly, during the 2000s can specify: Colplay, Beyonce and Britney Spears. Notwithstanding the music, a distinction that set apart between these two decades have been the patterns. Design in the garments of 1970s, the perfect was not to show the female characteristics or bends, however on the opposite appear assigned sprites indicating their side youngsters as a round of enticement contrasted and 2000s it’s put it that causes you to feel great, without offering a lot of significance to the thoughts of others or patterns; in this way, easygoing garments became style. Then again, the frill in 1970s that stood apart were shades with extremely huge focal points outlines normally yellow, blue or purple, enormous studs and garish pieces of jewelry contrasted with 2000s that it utilized totes, shoes and watches of notable brands (Benaim 98). The image of the 1970s was blossoms and prints; nonetheless, in 2000s was scarves and tissues. Consequently, how patterns stamped distinction between these two decades, the innovation additionally made it. During the 1970s individuals utilized music players as tape, recording device and turn table; conversely in 2000s individuals utilized walkman, discman and mp3 player. The main brand of PDA that was featured during the 1970s was the Motorola DynaTAC 8000 X; despite what might be expected, in 2000s there were a few brands, for example, Motorola with contact innovation and sonic Ericson with the â€Å"Smartphone†. Vehicle types in 1970 was restricted with vehicles, for example, Fiat Coupe 1500, Gordini and Peugeot 404 Gran Prix le keeps an eye on, while in 2000s car innovation was opening field in numerous nations with new arrangements, for example, Fiat Palio, Volkswagen Gol G3 and Citroen Xsara 1. I Sx Full (Hernandez 66). With everything taken into account, the contrasts between these two decades have been critical to the advances of the present; music, patterns and innovation have been advancing and taking new headings, propose a functioning connection between the subject that is the history, the past and the world where we live. On the off chance that the present has power over the past it is on the grounds that lone the present forces an d permits you to change the world. The most effective method to refer to The 1970s versus 2000s, Papers

Facts About Comorbidity

Facts About Comorbidity Social Anxiety Disorder Related Conditions Print The Comorbidity of Two Disorders By Arlin Cuncic Arlin Cuncic, MA, is the author of Therapy in Focus: What to Expect from CBT for Social Anxiety Disorder and 7 Weeks to Reduce Anxiety. Learn about our editorial policy Arlin Cuncic Medically reviewed by Medically reviewed by Steven Gans, MD on December 03, 2019 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on February 21, 2020 Comorbidity means having more than one diagnosis. Getty / DrAfter123 More in Social Anxiety Disorder Related Conditions Symptoms Diagnosis Treatment and Therapy Coping Work and School In simple terms, comorbidity refers to the presence of more than one disorder in the same person. For example, if a person is diagnosed with both social anxiety disorder (SAD) and major depressive disorder (MDD), they are said to have comorbid (meaning co-existing) anxiety and depressive disorders.?? Other conditions that are seen to overlap include physical ailments such as diabetes, cardiovascular illness, cancer, infectious diseases, and dementia. Mental disorders that tend to show comorbidity also include eating disorders, anxiety disorders, and substance abuse. History of the Term The term comorbidity was coined in the 1970s by A.R. Feinstein, a renowned American doctor, and epidemiologist. Feinstein demonstrated comorbidity through the example of how people who suffered from rheumatic fever also usually suffered from multiple other diseases.?? Since that time, comorbidity has come to be associated with the presence of multiple mental or physical illnesses in the same person. Prevalence Its not uncommon for people to suffer from two disorders or illnesses at once. Comorbidity in mental illness can include a situation where a person receives a medical diagnosis that is followed by the diagnosis of a mental disorder (or vice versa), or it can involve the diagnosis of a mental disorder that is followed by the diagnosis of another mental disorder.?? A 2009 large cross-sectional national epidemiological study of comorbidity of mental disorders in primary care in Spain published in the Journal of Affective Disorders showed that among a sample of 7936 adult patients, about half had more than one psychiatric disorder. Furthermore, in the U.S. National Comorbidity Survey, 51 percent of patients with a diagnosis of major depression also had at least one anxiety disorder and only 26 percent of them had no other mental disorder. However, in the Early Developmental Stages of Psychopathology Study, 48.6 percent of patients with a  diagnosis of major depression also had at least one anxiety disorder and 34.8 percent of them had no other mental disorder. Challenges Overlap of medical conditions with psychiatric conditions is a significant challenge for healthcare professionals and creates additional costs for the healthcare system.?? For example, a person diagnosed with both diabetes and depression would be treated for both conditions, but consideration for overlap between medications and symptoms would need to be coordinated by the various health care professionals offering treatment. If you live with multiple conditions or disorders, it is important that your doctor is aware of all medications and over-the-counter drugs you are taking, to ensure the risk of medication interactions is reduced. Prevention Healthcare professionals also play a role in the prevention of comorbidity. For example, if social anxiety disorder is left untreated for a long period of time, a person may also develop depression and/or substance abuse in response to the anxiety symptoms.?? At a broader level, coordination between primary doctors and mental health professionals is key to preventing comorbid conditions. If youve been diagnosed with a physical and/or mental health condition, keep good records of the care that you receive from various professionals, so that each can be aware of the various treatments you are receiving.?? A Word From Verywell If you feel that you have symptoms of more than one mental disorder or those of a physical health condition in addition to a mental disorder, it is important to consult with your primary care physician or mental health professional to determine the best course of action. The unique combination of symptoms that you experience will determine whether medication and/or therapy is best for your situation.

What is Abolitionism

As the enslavement of African-Americans became a preferred aspect of the United States society, people began questioning the morality of bondage. Throughout the 18th and 19th centuries, the abolition movement grew—first through the religious teachings of the Quakers and later, through anti-slavery organizations. Historian Herbert Aptheker argues that there are three major philosophies of the abolitionist movement: moral suasion; moral suasion followed by political action, and finally, resistance through physical action. While abolitionists such as William Lloyd Garrison were lifelong believers in moral suasion, others such as Frederick Douglass shifted their thinking to include all three philosophies. Moral Suasion Many abolitionists believed in the pacifist approach to ending slavery. Abolitionists such as William Wells Brown and William Lloyd Garrison believed that people would be willing to change their acceptance of slavery if they could see the morality of enslaved people. To that end, abolitionists believing in moral suasion published slave narratives, such as Harriet Jacobs Incidents in the Life of a Slave Girl and newspapers such as The North Star and The Liberator. Speakers such as Maria Stewart spoke on lecture circuits to groups throughout the North and Europe to throngs of people trying to persuade them to understand the horrors of slavery. Moral Suasion and Political Action Towards the end of the 1830s, many abolitionists were moving away from the philosophy of moral suasion. Throughout the 1840s, local, state and national meetings of the National Negro Conventions centered around the burning question: how can African-Americans use both moral suasion and the political system to bring an end to slavery. At the same time, the Liberty Party was building steam. The Liberty Party was established in 1839 by a group of abolitionists that believed wanted to pursue emancipation of enslaved people via the political process. Although the political party was not popular among voters, the purpose of the Liberty Party was to underscore the importance of ending enslavement in the United States. Although African-Americans were not able to participate in the electoral process, Frederick Douglass was also a firm believer that moral suasion should be followed by political action, arguing the complete abolition of slavery needed to rely on political forces within the Union, and the activities of abolishing slavery, therefore, should be within the Constitution. As a result, Douglass worked first with the Liberty and Free-Soil parties. Later, he turned his efforts to the Republican Party by writing editorials that would persuade its members to think about the emancipation of slavery. Resistance Through Physical Action For some abolitionists, moral suasion and political action were not enough. For those who desired immediate emancipation, resistance through physical action was the most effective form of abolition. Harriet Tubman was one of the greatest examples of resistance through physical action. After securing her own freedom, Tubman traveled throughout southern states an estimated 19 times between 1851 and 1860. For enslaved African-Americans, rebellion was considered for some the only means of emancipation. Men such as Gabriel Prosser and Nat Turner planned insurrections in their attempt to find freedom. While Prossers Rebellion was unsuccessful, it caused southern slaveholders to create new laws to keep African-Americans enslaved. Turners Rebellion, on the other hand, reached some level of success--before being the rebellion ended more than fifty whites were killed in Virginia. White abolitionist John Brown planned the Harpers Ferry Raid in Virginia. Although Brown was not successful and he was hung, his legacy as an abolitionist who would fight for the rights of African-Americans made him revered in African-American communities. Yet historian James Horton argues that although these insurrections were often halted, it instilled great fear in southern slaveholders. According to Horton, the John Brown Raid was a critical moment which signals the inevitability of war, of hostility between these two sections over the institution of slavery.

Persuasive Essay On Prison Segregation - 1490 Words

When it comes to segregation in prisons, there is a great deal of controversy. There are people who argue that this type of segregation (also referred to as solitary confinement) is necessary in certain situations, while others find that it is absolutely unnecessary and should be abolished. Ashley Smith was one such individual that spent most of her sentence in segregation until she took her own life. In the case of Smith, there was a lot more that should have been done to prevent her tragic demise. While initially Smith’s death was simply labelled as preventable, it was later ruled as a homicide. It was ruled that the CSC was responsible for her death because the facility’s officials were aware of her mental health concerns and even then,†¦show more content†¦This is also typically temporary. The third type of segregation is administrative segregation. Administrative segregation occurs when an inmate is either at risk of being harmed/causing harm to themselves or poses a risk to the general inmate population and/or staff (Morris p.2). This type of segregation is the one that is more likely to be long term in comparison to the other two. When in solitary confinement, an inmate remains in a cell that typically differs from regular cells. These types of cells are built to further reduce any sort of contact. For 23 hours of the day an inmate in solitary confinement is to have no contact with the general prison population. They are given 1 hour where they can shower and engage in some recreational activities if they wish (Morris p. 3). First and foremost, Mears puts forward many standards in his article â€Å"Supermax Prisons. Criminology Public Policy†. He uses these standards to determine whether solitary confinement is truly beneficial or not. He looks at cost efficiency, public support, ethical considerations and other options. According to Mears, problems with being able to successfully manage high numbers of prisoners in institutions with only a small number of staff are inevitable. The use of solitary confinement originally came into being due to incidents of violence and/or riots in prisons that sometimes resulted in death (MearsShow MoreRelatedThe Autobiography Of Malcolm X As Told By Alex Haley1442 Words   |  6 PagesThe Autobiography of Malcolm X as told by Alex Haley is the story about a man who greatly impacted American history. Malcolm Little, or Malcolm X as he is more widely known, taught what he believed in regards to segregation, racism, and discrimination. Growing up in a large family with a father Earl Little, a Baptist minister, and his mother Louis Little, who was a homemaker, Malcolm’s life at the time seemed very promising. 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In turn, this knowledge depends upon the philosophical assumption (Figure 1.7) that such neutral access to reality is actually possible in the first place. So, as we noted earlier

Crude Oil Price Volatility Economics Essay Free Essays

string(193) " dazes are preponderantly defined with regard to monetary value fluctuations ensuing from alterations in either the demand or supply side of the international oil market \( Hamilton, 1983 \) \." Energy plays the cardinal function in the universe economic system. In malice of considerable disposition to alternative renewable beginnings of energy like air current, H2O, atomic and solar power, the function of rough oil in macroeconomic motions has non waned yet ( Mehrara A ; Mohaghegh, 2011 ) . Since the find and production of oil Nigeria in 1958, the subsector has continued to play a major and dominant function in the Nigerian economic system. We will write a custom essay sample on Crude Oil Price Volatility Economics Essay or any similar topic only for you Order Now The extractive sector in the Nigerian economic system is big and extended, with oil playing a critical function. With about 37.2 billion barrels in militias and 2.13 % of planetary production, Nigeria has the universe ‘s 10th largest proven militias ( 3.1 % of planetary militias ) , and is among the top 10 oil manufacturers ( Akinlo, 2012 ) . Nigeria has been a member of the Organization of the Petroleum Exporting Countries ( OPEC ) since July 1971. Presently, there are 12 member states including Nigeria in this international organisation whose purpose of the organisation, harmonizing to its Statute, is the finding of the best agencies for safeguarding their involvements, separately and jointly ; inventing ways and agencies of guaranting the stabilisation of monetary values in international oil markets with a position to extinguishing harmful and unneeded fluctuations ; giving due respect at all times to the involvements of the bring forthing states and to the necessity of procuring a steady income to the bring forthing states ; an efficient, economic and regular supply of crude oil to devouring states, and a just return on their capital to those puting in the crude oil industry ( OPEC, 2012 ) . Crude Oil is an of import trade good non merely because it is of course happening in the Earth but because of the many fractions that are derived from it after the refinement procedure. Those changing fractions such as fuel oil, jet fuel, kerosine etc. are extracted at different temperatures during the refinement procedure. The demand for rough oil is derived from the demand for its fractions and it depends on a big figure of factors such as its class, sulfur content and its locations. Crude Oil is classified in the international market harmonizing to changing molecular features by giving pricing mentions to the countries where such barrels are produced. Such pricing mentions include the North American West Texas Intermediate, Nigerian Bonny Light, Brent etc. In most oil exporting states, authorities which is well big in comparing with little private sector, straight receives the oil gross. Spending this gross, authorities ‘s behaviour becomes the most of import feature of the economic system. In other words, the financess needed for authorities ‘s outgo come from oil gross. So, financial and pecuniary policies depend upon oil monetary value ( Rosser A ; Sheehan, 1995 ) . Oil monetary value is extremely variable ; even more than any other trade good ( Dehn, 2001 ) . Crude oil monetary values have increased on norm from US $ 25 per barrel in 2002 to US $ 55 per barrel in 2005. There has been a steep upward tendency in the monetary value of rough oil in recent old ages, making a record nominal high of US $ 147 in mid-2008 and a crisp bead to US $ 46 a barrel ( Akpan, 2009 ) . The transmittal mechanisms through which oil monetary values have impact on existent economic activity include both supply and demand channels. The supply side effects are related to the fact that rough oil is a basic input to production, and accordingly an addition in oil monetary value leads to a rise in production costs that induces houses to take down end product. Oil monetary value alterations besides entail demand-side effects on ingestion and investing. Consumption is affected indirectly through its positive relation with disposable income. Oil monetary value rises cut down the consumers passing power. Investing may besides be affected if the oil monetary value daze encourages manufacturers to replace less energy intensive capital for more energy-intensive capital. The magnitude of this consequence is in bend stronger the more the daze is perceived to be durable. For this ground, the theoretical literature has been of a general equilibrium nature, with different writers delega ting different weights to the supply and demand channels ( Olomola A ; Adejumo, 2006 ) . When oil monetary value depreciates, big public sector expectedly can non cut down its disbursement instantly and proportionally ; so faces immense shortages. The financial instabilities followed by an oil monetary value lessening can be lay waste toing if the state is extremely dependent on oil grosss ; which is the instance in most oil exporting states. More disappointingly such falls are normally unpredictable. Several uncomplete undertakings and immense debts are the chief heritages of this period for the undermentioned fruitful epoch. After some rough experiences, presents, insulating the existent sectors of economic system from oil monetary value volatility is accepted as one of the most of import functions of authorities ( Mehrara A ; Mohaghegh, 2011 ) . Presently, one-year budgets are formulated in Nigeria based on oil monetary values. The 2009 budget was revised in line with the predominating market monetary value of oil declarative mood of immense dependance of Nigeria on oil returns. In 2012, there was an intense argument refering the benchmark monetary value of Crude Oil that would be the footing of gross and outgo computations in the passing of the 2013 Appropriation Act ( budget ) through the Nigerian National Assembly. Huge influx of oil grosss in Nigeria are more frequently associated with enlargement in the degree of Government passing while periods of dwindling oil grosss are normally accompanied by budget shortages. There is no addition stating that Nigeria relies so much on gross from oil exports, but, it every bit massively imports refined crude oil and other related merchandises. Evidence, for case, shows that Government disbursement, which hitherto, before 1999 remained good below N0.5 trillion, hit N1.02 trillion grade in 2001 and N1.5 trillion in 2004. The figures for 2006 and 2007 stood at N2.04 and N2.45 trillion severally ( Aliyu, 2009 ) . Oil monetary value dazes are preponderantly defined with regard to monetary value fluctuations ensuing from alterations in either the demand or supply side of the international oil market ( Hamilton, 1983 ) . You read "Crude Oil Price Volatility Economics Essay" in category "Essay examples" These alterations have been traditionally traced to provide side breaks such as OPEC supply quotas, political turbulences in the oil-rich Middle East and activities of hawkish groups in the Niger Delta part of Nigeria. The dazes could be positive ( a rise ) or negative ( a autumn ) . Two issues are identified sing the dazes ; foremost is the magnitude of the monetary value addition which can be quantified in absolute footings or as per centum alterations, second is the timing of the daze, that is, the velocity and continuity of the monetary value addition ( Akpan, 2009 ) . Traveling by the foregoing, four oil dazes can be observed in Nigeria. Each of the dazes had connexions with some motions in cardinal macroeconomic variables in Nigeria. For case, the 1973-74, 1979-80, and 2003-2006 periods were associated with monetary value additions while the oil market prostration of 1986 is an episode of monetary value lessening. During the first oil daze in Nigeria ( 1973-74 ) , the value of Nigeria ‘s export measured in US dollars rose by about 600 per cent with the footings of trade lifting from 18.9 in 1974 to 65.3 by 1982. Government gross which stood at 8 per cent of GDP in 1972 rose to about 20 per cent in 1975. This resulted in increased authorities outgo owing mostly from the demand to monetise the rough oil grosss. Investing was mostly in favor of instruction, public wellness, conveyance, and import replacing industries ( Nnnanna A ; Masha, 2003 ) . During the oil monetary value daze of 2003-2006, Nigeria recorded addition in the portion of oil in GDP from approximately 80 per cent in 2003 to 82.6 per cent in 2005. The daze was gradual and persisted for a piece. This could be regarded as a lasting daze. The consequence of the daze was a favorable investing clime, increased national income within the period although a little diminution was observed in the growing rate of the GDP. Despite this sensed benefit of oil monetary value alteration, the macroeconomic environment in Nigeria during the roars was unwanted. For case, rising prices was largely dual figure in the 1970s ; money supply grew steeply, while immense financial shortages were besides recorded ( Akpan, 2009 ) . The growing way of the state has been really unsmooth over the old ages. During the oil roar epoch, approximately 1970-78, GDP grew positively by 6.2 per centum yearly – a singular growing. However, in the 1980s, GDP had negative growing rates. In the period 1988-1997 which constitutes the period of Structural Adjustment Programme ( SAP ) , which entails economic liberalisation, the GDP responded to economic accommodation policies and grew at a positive rate of 4.0 per centum. Agriculture, industry and fabrication, oil and gas sectors had greater laterality in the composing of the Nigeria ‘s GDP. The twelvemonth 1989 – 1998 was the most disruptive period in the history of the state ‘s growing form. Real GDP grew merely by an norm of 3.6 per centum, against the population growing rate of 2.8 % during the same period. Inflation, poorness, exchange rate were all at dismaying rates. Foreign direct investing, which is a necessary engine of growing, was stifled be cause of unsupportive enabling environment. Between 1999 and 2008, the state ‘s growing public presentation improved significantly. GDP growing rate averaged 7.8 % during the decennary entirely due to the growing of non-oil sector which grew by 9.5 per centum. In this respect, nevertheless, oil sector constitutes both a retarding force on growing and a beginning of instability in GDP growing form ( Aliyu, 2009 ) . Ongoing financial and pecuniary reforms aim to cut down the degree of rough oil dependence but at the minute, uncertainnesss about the degree of rough oil monetary values has cost the economic system a batch of investing chances over the old ages. In order for Nigeria to achieve balanced, uninterrupted and sustainable economic growing, the consequence of volatility in oil monetary values must be given equal attending. STATEMENT OF THE PROBLEM In Nigeria, the rate of petroleum oil dependence is high. It accounted for about 82.1 % of entire authorities gross during the oil roar in 1974 before cut downing to a portion of 64.3 % by which was a effect of the rapid diminution in universe market monetary value of rough oil. The portion of oil gross in entire authorities gross still remains significant as evidenced by the attainment of 85.6 % and 86.1 % in 2004 and 2005 severally ( Akpan,2009 ) . This has generated a batch of involvement particularly amongst stakeholders in the Nigerian economic system. Of recent, is the argument in the Nigerian National Assembly about the appropriate petroleum oil monetary value benchmark to be included in the 2013 Appropriation Act which has generated a batch of contention. From a planning position, fluctuations in the petroleum oil monetary value have been the beginning of a batch of incomplete authorities undertakings due to the alterations in the gross watercourse and the dependability of cost estimations. The transmittal mechanisms through which rough oil monetary values impact on existent economic activity and analysing the dynamic interrelatedness among the selected macroeconomic variables is of great importance. Variations in rough oil monetary values hinders effectual economic planning and development most particularly for rough oil dependent economic systems like Nigeria. The impact of these fluctuations in footings of magnitude, continuance and way is of great importance if the Nigerian economic system must come on. The following are inquiries refering to the impact of rough oil monetary value volatility in Nigeria: – How significantly can Crude Oil Price fluctuations hinder sustainable economic growing in Nigeria? What magnitude of the alterations in macroeconomic variables is associated with fluctuations in rough oil monetary value? 1.3 OBJECTIVES OF THE STUDY The wide aim of this survey is to analyse the consequence of petroleum oil monetary value volatility on economic activity in Nigeria. The specific aims include: a. To analyse the consequence of oil monetary value volatility on the growing rate of existent GDP, Inflation rate, Money supply and other financial and pecuniary variables. B. To find whether there is a long tally relationship between oil monetary value volatility and existent GDP growing in Nigeria. 1.4 RESEARCH QUESTIONS The inquiries that guide the research are as follows: a. Is there a important relationship between Oil monetary value dazes and economic system activity in Nigeria? B. What is the magnitude of the relationship ( if any ) between Oil monetary value dazes and macroeconomic variables in Nigeria? 1.5 HYPOTHESES OF STUDY The followers are the research hypotheses to be tested during the survey: Holmium: Crude Oil Price has no important consequence on economic activity in Nigeria. H1: Crude Oil Price has a important consequence on economic activity in Nigeria. 1.6 SCOPE AND LIMITATIONS OF THE STUDY This survey on the consequence of volatile economic activity may be relevant to all states in the universe but the overall considerations, analysis and deductions are within the model of the Nigerian economic system. This survey covers the periods from 1975 to 2011. However, restrictions due to unavailability and undependability of informations could originate in the class of the survey and this should non be overlooked. 1.7 DEFINITION OF UNFAMILIAR TERMS The undermentioned footings used during the survey are explained below: a. Volatile: Care to change frequently or widely B. Organization of Petroleum-Exporting Countries ( OPEC ) : An organisation of states formed in 1961 to hold on a common policy for the production and sale of crude oil. Its members include Iraq, Indonesia, Iran, Kuwait, Libya, Angola, Algeria, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. 1.8 SIGNIFICANCE OF STUDY This survey is of import to demo the extent to which the Nigerian economic system is affected by rough oil by analyzing macroeconomic variables. It is necessary to understand the way, continuance and magnitude of the relationship. 1.9 METHODOLOGY The variables to be considered include: a. Oil Price Variance B. Real Gross Domestic Product Growth Rate c. Inflation Rate d. Index of Industrial Production e. Money Supply f. Government Outgo The clip period under consideration is 1975-2011. The Ordinary Least Square Method is used because it is the best linear indifferent calculator. Garch ( 1,1 ) theoretical account is used to mensurate rough oil monetary value volatility and the conditional discrepancy series generates the volatility informations. Johansen Co-Integration technique based on vector autoregressive theoretical account determines the long tally relationship between oil monetary value fluctuations and GDP growing. Vector Error Correction Model ( VECM ) specifies convergence or divergency among the variables in the theoretical account. Trials for Stationarity ( being of unit roots ) such as the augmented dickey-fuller and Phillip Perron Tests will be employed. Variance decomposition, impulse response map, farmer causality trial examines consequence of Oil Price volatility on other variables. 1.10 DATA Beginnings Secondary informations beginnings from Central Bank Statistical Database, Central Bank Statistical Bulletin, OPEC Statistical Bulletin British Petroleum Statistical Review of World Energy. 1.11 OUTLINE OF CHAPTERS How to cite Crude Oil Price Volatility Economics Essay, Essay examples

Major trade theories

A trade theory is an assumption related to how businesses strategies get in place to achieve an organization’s goals and missions. These assumptions give the key ways of achieving realistic business goals in any business environment. Trade theories aim at overcoming trade barriers both locally and internationally.Advertising We will write a custom essay sample on Major trade theories specifically for you for only $16.05 $11/page Learn More Every business environment has utilizes one or a combination of the trade theories t come up with a route map to success. There are many trade theories inexistence in the business world. These are; Heckscher-Ohlin factor endowment, Absolute advantage and the comparative advantage trade theory. All these theories get applies in various favorable or appropriate business areas that seem suitable for their successful operation (Peng, 2010). To begin with, we take consideration of one the theories in detail, the abso lute advantage cost theory. Adam smith put absolute cost advantage theory forward where he argued that countries could gain from trading when they put a strategy that would help them specialize in they have production advantages. According to the absolute cost advantage theory, when one country can mobilize its resources and concentrate on producing goods and services that it is best at or where the cost of production is favorable to he country. Smith argues that nations cannot become financially able when they follow the olden day mercantilist prescriptions. This comes because of one nation having more raw materials of one commodity that are available locally. When this nation mobilizes its production resources and majors in the production of the product. It is evident that the cost of producing this commodity will be much lower than that of a country that import the raw materials required to produce this products and services associated with it. In this way there will be countries importing goods and services from others who will be their exporters. The exporting country is sufficiently able to sustain its needs for the products and the remaining surplus of the product gets sold to other countries as an export product. This creates markets for the countries in trade negotiations and it expands the trade zones or regions for the sale of their products and services. According to this theory, all nations would have simultaneous trade gains as they allow and practice free trade for the betterment of all the nations involved in the trading. Through this practice, nations become interdependent in terms of production as one nation would totally rely on another nation for the supply one or several products (Salvatore, 2005).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More What cultural, physical, economical, financial, and political impediments might prevent the successful application of your selected trade theory? To begin with, we look at the political barriers that may inhibit the success of applying the absolute cost advantage theory. Politics of any nation determines principles and rules that govern a particular country. The political; influences may result into economic growth or inhibit the economic growth through imposing of laws and rules that may result into negative business operations. Furthermore, tariffs and taxes that a country may impose on any products and services determine its final value or prices. The same impositions may increase cost of producing a certain commodity within a country and this will reflect on the end price of the commodity. Bad political, relationships between two nations may force one nation to inhibit imports from the other country simply by imposing high tariffs and taxes on the products from the other country. This will influence or discourage importers of that commodity, as its final price will be so much hig h than normal this will force potential buyers not to concentrate on buying the product from the market. This situation results in one country whose production process is under the influence of political barrier to suffer losses as its products may lack a good market for its products (Kelly McGowen, 2010). Secondly, a country may have cheap available raw materials to produce a certain product very well but financial aspects may inhibit it from taking this absolute advantage and gain business wise by having control over the export of this product. Many developing countries especially African countries suffer this blow as they readily have raw materials but lack the financial power to concentrate resources necessary for the production of the goods and services basing on the availability of this raw material at their disposal. This causes the same countries to import the same product made from the raw materials they have by countries that have a high economic power. This comes at cost as the products prices are usually higher and this drains away a country’s foreign exchange (Appleyard, Field Cobb, 2006). On the other hand, other factors or barriers inhibit the successful application of this theory include; cultural practices; economic factors and the physical factors. Economic or financial strength determines the terms of trade between the two countries applying the absolute cost advantage theory. This economic strength gives the nations in trade freedom and power to exercise importing of products that it needs from another country.Advertising We will write a custom essay sample on Major trade theories specifically for you for only $16.05 $11/page Learn More When a country lacks the economic power enough to help it produce goods that will balance trade between the two nations then the terms of trade may affect one side leading to failure of applying the theory. Some countries may be used to or not used to consuming certain products, for instance, Muslims do not eat and its associated products. Trading with having majority of its citizen practicing the Muslim faith will highly inhibit the applicatio9n of the theory to the advantage of both countries. Finally, physical barrier may hinder transportation that is important for establishing trade between two or more nations. One nation may successfully produce goods and services that another country needs them so much but physical infrastructure may be the key inhibiting factor for the trade to occur a successfully (Kelly McGowen, 2010). References Appleyard, D., Field, A., Cobb, S. (2006). International economics. 5 edn. Boston, MA: McGraw-Hill. Kelly, M. McGowen, J. (2010). Busn. New York, NY: Cengage Learning Peng, W. M.(2010). Global business. New York, NY: Cengage Learning. Salvatore, D. (2005). Introduction to international economics. New Jersey, NJ: John Wiley Sons Inc. This essay on Major trade theories was written and submitted by user Brett Gallegos to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.