Digital Media in the Past and Present Essay -- Technology Electronics

Digital Media in the Past and Present In today’s world digital media are everywhere, TV, newspapers, advertisements, and magazines. Almost everywhere you look you will find some sort of digital technology. Digital technology has come along way since the beginning of its time in. Although computers were invented long before; digital technology didn’t start to shine its light until the early 80’s. Originally, NASA developed digital imaging for the US space program in the 1960s (History of the digital camera, 2001). NASA needed a reliable way to get photographs back from the probes, which were never to return to the Earth. George Lucas combined with Adobe to help start the digital art movement with the creation of Photoshop. Companies such as Adobe, Microsoft, Hewitt Packard, Kodak and Sony are a few of the top brands in digital design. A brief history into the digital world mainly begins in 1984 when Sony released its first digital video camera. It used analog recording technology and saved data to a 2.5† floppy disk. The quality of these cameras was quite poor. At the same time Kodak came out with their 8mm camera, but had a hard time finding a buying market. Kodak eventually shut down the electronic photography division. Meanwhile Sony found the market, and began the digital boom. In 1985 the â€Å"Targa video card was introduced. It was a 24 bit color display card, that allowed the user to capture video images to the computer.† (www.home.eznet.net/) The first scanner was introduced in 1986, known as the Thunderscan digitizer. It used the Apple ImageWriter printer to capture the image, in black and white dots. And in 1990 Kodak introduced the first digital camera and photo CD. There was also the introduction of imaging software ... ...sroom" with "digital walls and ceiling" would not need a projector, the information and images would appear on the surrounding surfaces.† He also predicts that these types of projectors will to be able to project 3D images. For example if you were learning about the statue of David, at the click of a button the projector could make a replica of the statue and portray it in the middle of the room. Learning experience will become astronomical in a just a few years. Resources will just be unlimited. The world today is becoming completely based on computers. Less then twenty years ago no one would have believed that almost every household in America would contain a personal computer. Now it’s rare not to own one, some houses contain multiple computers. For this reason its no wonder that the world is going digital. Digital technology just improves so many opportunities.

Synchronous Motor

Chapter (11) Synchronous Motors Introduction It may be recalled that a d. c. generator can be run as a d. c. motor. In like manner, an alternator may operate as a motor by connecting its armature winding to a 3-phase supply. It is then called a synchronous motor. As the name implies, a synchronous motor runs at synchronous speed (Ns = 120f/P) i. e. , in synchronism with the revolving field produced by the 3-phase supply. The speed of rotation is, therefore, tied to the frequency of the source.Since the frequency is fixed, the motor speed stays constant irrespective of the load or voltage of 3phase supply. However, synchronous motors are not used so much because they run at constant speed (i. e. , synchronous speed) but because they possess other unique electrical properties. In this chapter, we shall discuss the working and characteristics of synchronous motors. 11. 1 Construction A synchronous motor is a machine that operates at synchronous speed and converts electrical energy into mechanical energy. It is fundamentally an alternator operated as a motor.Like an alternator, a synchronous motor has the following two parts: (i) a stator which houses 3-phase armature winding in the slots of the stator core and receives power from a 3-phase supply [See (Fig. (11. 1)]. (ii) a rotor that has a set of salient poles excited by direct current to form alternate N and S poles. The exciting coils are connected in series to two slip rings and direct current is fed into the winding from an external exciter mounted on the rotor shaft. The stator is wound for the same number of poles as the rotor poles.As in the case of an induction motor, the number of poles determines the synchronous speed of the motor: Fig. (11. 1) 293 Synchronous speed, N s = where 120f P f = frequency of supply in Hz P = number of poles An important drawback of a synchronous motor is that it is not self-starting and auxiliary means have to be used for starting it. 11. 2 Some Facts about Synchronous Motor Some salient features of a synchronous motor are: (i) A synchronous motor runs at synchronous speed or not at all. Its speed is constant (synchronous speed) at all loads. The only way to change its speed is to alter the supply frequency (Ns = 120 f/P). ii) The outstanding characteristic of a synchronous motor is that it can be made to operate over a wide range of power factors (lagging, unity or leading) by adjustment of its field excitation. Therefore, a synchronous motor can be made to carry the mechanical load at constant speed and at the same time improve the power factor of the system. (iii) Synchronous motors are generally of the salient pole type. (iv) A synchronous motor is not self-starting and an auxiliary means has to be used for starting it. We use either induction motor principle or a separate starting motor for this purpose.If the latter method is used, the machine must be run up to synchronous speed and synchronized as an alternator. 11. 3 Operating Principle The fact that a synchronous motor has no starting torque can be easily explained. (i) Consider a 3-phase synchronous motor having two rotor poles NR and SR. Then the stator will also be wound for two poles NS and SS. The motor has direct voltage applied to the rotor winding and a 3-phase voltage applied to the stator winding. The stator winding produces a rotating field which revolves round the stator at synchronous speed Ns(= 120 f/P).The direct (or zero frequency) current sets up a two-pole field which is stationary so long as the rotor is not turning. Thus, we have a situation in which there exists a pair of revolving armature poles (i. e. , NS ? SS) and a pair of stationary rotor poles (i. e. , NR ? SR). (ii) Suppose at any instant, the stator poles are at positions A and B as shown in Fig. (11. 2 (i)). It is clear that poles NS and NR repel each other and so do the poles SS and SR. Therefore, the rotor tends to move in the anticlockwise direction. After a period of half-cycle (or ? = 1 /100 second), the polarities of the stator poles are reversed but the polarities of the rotor poles remain the same as shown in Fig. (11. 2 (ii)). Now SS and NR attract 294 each other and so do NS and SR. Therefore, the rotor tends to move in the clockwise direction. Since the stator poles change their polarities rapidly, they tend to pull the rotor first in one direction and then after a period of half-cycle in the other. Due to high inertia of the rotor, the motor fails to start. Fig. (10. 2) Hence, a synchronous motor has no self-starting torque i. e. , a synchronous motor cannot start by itself.How to get continuous unidirectional torque? If the rotor poles are rotated by some external means at such a speed that they interchange their positions along with the stator poles, then the rotor will experience a continuous unidirectional torque. This can be understood from the following discussion: (i) Suppose the stator field is rotating in the clockwise direction and the rotor is als o rotated clockwise by some external means at such a speed that the rotor poles interchange their positions along with the stator poles. (ii) Suppose at any instant the stator and rotor poles are in the position shown in Fig. 11. 3 (i)). It is clear that torque on the rotor will be clockwise. After a period of half-cycle, the stator poles reverse their polarities and at the same time rotor poles also interchange their positions as shown in Fig. (11. 3 (ii)). The result is that again the torque on the rotor is clockwise. Hence a continuous unidirectional torque acts on the rotor and moves it in the clockwise direction. Under this condition, poles on the rotor always face poles of opposite polarity on the stator and a strong magnetic attraction is set up between them.This mutual attraction locks the rotor and stator together and the rotor is virtually pulled into step with the speed of revolving flux (i. e. , synchronous speed). (iii) If now the external prime mover driving the rotor is removed, the rotor will continue to rotate at synchronous speed in the clockwise direction because the rotor poles are magnetically locked up with the stator poles. It is due to 295 this magnetic interlocking between stator and rotor poles that a synchronous motor runs at the speed of revolving flux i. e. , synchronous speed. Fig. (11. 3) 11. Making Synchronous Motor Self-Starting A synchronous motor cannot start by itself. In order to make the motor self-starting, a squirrel cage winding (also called damper winding) is provided on the rotor. The damper winding consists of copper bars embedded in the pole faces of the salient poles of the rotor as shown in Fig. (11. 4). The bars are short-circuited at the ends to form in effect a partial Fig. (11. 4) squirrel cage winding. The damper winding serves to start the motor. (i) To start with, 3-phase supply is given to the stator winding while the rotor field winding is left unenergized.The rotating stator field induces currents in the damper or squirrel cage winding and the motor starts as an induction motor. (ii) As the motor approaches the synchronous speed, the rotor is excited with direct current. Now the resulting poles on the rotor face poles of opposite polarity on the stator and a strong magnetic attraction is set up between them. The rotor poles lock in with the poles of rotating flux. Consequently, the rotor revolves at the same speed as the stator field i. e. , at synchronous speed. iii) Because the bars of squirrel cage portion of the rotor now rotate at the same speed as the rotating stator field, these bars do not cut any flux and, therefore, have no induced currents in them. Hence squirrel cage portion of the rotor is, in effect, removed from the operation of the motor. 296 It may be emphasized here that due to magnetic interlocking between the stator and rotor poles, a synchronous motor can only run at synchronous speed. At any other speed, this magnetic interlocking (i. e. , rotor poles facing o pposite polarity stator poles) ceases and the average torque becomes zero.Consequently, the motor comes to a halt with a severe disturbance on the line. Note: It is important to excite the rotor with direct current at the right moment. For example, if the d. c. excitation is applied when N-pole of the stator faces Npole of the rotor, the resulting magnetic repulsion will produce a violent mechanical shock. The motor will immediately slow down and the circuit breakers will trip. In practice, starters for synchronous motors arc designed to detect the precise moment when excitation should be applied. 11. 5 Equivalent Circuit Unlike the induction motor, the synchronous motor is connected to two electrical systems; a d. . source at the rotor terminals and an a. c. system at the stator terminals. 1. Under normal conditions of synchronous motor operation, no voltage is induced in the rotor by the stator field because the rotor winding is rotating at the same speed as the stator field. Only the impressed direct current is present in the rotor winding and ohmic resistance of this winding is the only opposition to it as shown in Fig. (11. 5 (i)). 2. In the stator winding, two effects are to be considered, the effect of stator field on the stator winding and the effect of the rotor field cutting the stator conductors at synchronous speed.Fig. (11. 5) (i) The effect of stator field on the stator (or armature) conductors is accounted for by including an inductive reactance in the armature winding. This is called synchronous reactance Xs. A resistance Ra must be considered to be in series with this reactance to account for the copper losses in the stator or armature winding as shown in Fig. (11. 5 (i)). This 297 resistance combines with synchronous reactance and gives the synchronous impedance of the machine. (ii) The second effect is that a voltage is generated in the stator winding by the synchronously-revolving field of the rotor as shown in Fig. 11. 5 (i)). This generat ed e. m. f. EB is known as back e. m. f. and opposes the stator voltage V. The magnitude of Eb depends upon rotor speed and rotor flux ? per pole. Since rotor speed is constant; the value of Eb depends upon the rotor flux per pole i. e. exciting rotor current If. Fig. (11. 5 (i)) shows the schematic diagram for one phase of a star-connected synchronous motor while Fig. (11. 5 (ii)) shows its equivalent circuit. Referring to the equivalent circuit in Fig. (11. 5 (ii)). Net voltage/phase in stator winding is Er = V ? Eb Armature current/phase, I a = where 2 Zs = R 2 + X s a hasor difference Er Zs This equivalent circuit helps considerably in understanding the operation of a synchronous motor. A synchronous motor is said to be normally excited if the field excitation is such that Eb = V. If the field excitation is such that Eb < V, the motor is said to be under-excited. The motor is said to be over-excited if the field excitation is such that Eb > V. As we shall see, for both normal an d under excitation, the motor has lagging power factor. However, for over-excitation, the motor has leading power factor.Note: In a synchronous motor, the value of Xs is 10 to 100 times greater than Ra. Consequently, we can neglect Ra unless we are interested in efficiency or heating effects. 11. 6 Motor on Load In d. c. motors and induction motors, an addition of load causes the motor speed to decrease. The decrease in speed reduces the counter e. m. f. enough so that additional current is drawn from the source to carry the increased load at a reduced speed. This action cannot take place in a synchronous motor because it runs at a constant speed (i. e. , synchronous speed) at all loads.What happens when we apply mechanical load to a synchronous motor? The rotor poles fall slightly behind the stator poles while continuing to run at 298 synchronous speed. The angular displacement between stator and rotor poles (called torque angle ? ) causes the phase of back e. m. f. Eb to change w. r. t. supply voltage V. This increases the net e. m. f. Er in the stator winding. Consequently, stator current Ia ( = Er/Zs) increases to carry the load. Fig. (11. 6) The following points may be noted in synchronous motor operation: (i) A synchronous motor runs at synchronous speed at all loads.It meets the increased load not by a decrease in speed but by the relative shift between stator and rotor poles i. e. , by the adjustment of torque angle ?. (ii) If the load on the motor increases, the torque angle a also increases (i. e. , rotor poles lag behind the stator poles by a greater angle) but the motor continues to run at synchronous speed. The increase in torque angle ? causes a greater phase shift of back e. m. f. Eb w. r. t. supply voltage V. This increases the net voltage Er in the stator winding. Consequently, armature current Ia (= Er/Zs) increases to meet the load demand. iii) If the load on the motor decreases, the torque angle ? also decreases. This causes a smaller phase shift of Eb w. r. t. V. Consequently, the net voltage Er in the stator winding decreases and so does the armature current Ia (= Er/Zs). 11. 7 Pull-Out Torque There is a limit to the mechanical load that can be applied to a synchronous motor. As the load increases, the torque angle ? also increases so that a stage is reached when the rotor is pulled out of synchronism and the motor comes to a standstill. This load torque at which the motor pulls out of synchronism is called pull—out or breakdown torque.Its value varies from 1. 5 to 3. 5 times the full— load torque. When a synchronous motor pulls out of synchronism, there is a major disturbance on the line and the circuit breakers immediately trip. This protects the motor because both squirrel cage and stator winding heat up rapidly when the machine ceases to run at synchronous speed. 299 11. 8 Motor Phasor Diagram Consider an under-excited ^tar-connected synchronous motor (Eb < V) supplied with fixed excitation i. e. , back e. m. f. Eb is constantLet V = supply voltage/phase Eb = back e. m. f. /phase Zs = synchronous impedance/phase (i) Motor on no loadWhen the motor is on no load, the torque angle ? is small as shown in Fig. (11. 7 (i)). Consequently, back e. m. f. Eb lags behind the supply voltage V by a small angle ? as shown in the phasor diagram in Fig. (11. 7 (iii)). The net voltage/phase in the stator winding, is Er. Armature current/phase, Ia = Er/Zs The armature current Ia lags behind Er by ? = tan-1 Xs/Ra. Since Xs >> Ra, Ia lags Er by nearly 90Â °. The phase angle between V and Ia is ? so that motor power factor is cos ?. Input power/phase = V Ia cos ? Fig. (11. 7) Thus at no load, the motor takes a small power VIa cos ? phase from the supply to meet the no-load losses while it continues to run at synchronous speed. (ii) Motor on load When load is applied to the motor, the torque angle a increases as shown in Fig. (11. 8 (i)). This causes Eb (its magnitude is constant as excitation is fixed) to lag behind V by a greater angle as shown in the phasor diagram in Fig. (11. 8 (ii)). The net voltage/phase Er in the stator winding increases. Consequently, the motor draws more armature current Ia (=Er/Zs) to meet the applied load. Again Ia lags Er by about 90Â ° since Xs >> Ra. The power factor of the motor is cos ?. 300 Input power/phase, Pi = V Ia cos ?Mechanical power developed by motor/phase Pm = Eb ? Ia ? cosine of angle between Eb and Ia = Eb Ia cos(? ? ? ) Fig. (11. 8) 11. 9 Effect of Changing Field Excitation at Constant Load In a d. c. motor, the armature current Ia is determined by dividing the difference between V and Eb by the armature resistance Ra. Similarly, in a synchronous motor, the stator current (Ia) is determined by dividing voltage-phasor resultant (Er) between V and Eb by the synchronous impedance Zs. One of the most important features of a synchronous motor is that by changing the field excitation, it can be made to operate from lagging to eadin g power factor. Consider a synchronous motor having a fixed supply voltage and driving a constant mechanical load. Since the mechanical load as well as the speed is constant, the power input to the motor (=3 VIa cos ? ) is also constant. This means that the in-phase component Ia cos ? drawn from the supply will remain constant. If the field excitation is changed, back e. m. f Eb also changes. This results in the change of phase position of Ia w. r. t. V and hence the power factor cos ? of the motor changes. Fig. (11. 9) shows the phasor diagram of the synchronous motor for different values of field excitation.Note that extremities of current phasor Ia lie on the straight line AB. (i) Under excitation The motor is said to be under-excited if the field excitation is such that Eb < V. Under such conditions, the current Ia lags behind V so that motor power factor is lagging as shown in Fig. (11. 9 (i)). This can be easily explained. Since Eb < V, the net voltage Er is decreased and turn s clockwise. As angle ? (= 90Â °) between Er and Ia is constant, therefore, phasor Ia also turns clockwise i. e. , current Ia lags behind the supply voltage. Consequently, the motor has a lagging power factor. 301 ii) Normal excitation The motor is said to be normally excited if the field excitation is such that Eb = V. This is shown in Fig. (11. 9 (ii)). Note that the effect of increasing excitation (i. e. , increasing Eb) is to turn the phasor Er and hence Ia in the anti-clockwise direction i. e. , Ia phasor has come closer to phasor V. Therefore, p. f. increases though still lagging. Since input power (=3 V Ia cos ? ) is unchanged, the stator current Ia must decrease with increase in p. f. Fig. (11. 9) Suppose the field excitation is increased until the current Ia is in phase with the applied voltage V, making the p. . of the synchronous motor unity [See Fig. (11. 9 (iii))]. For a given load, at unity p. f. the resultant Er and, therefore, Ia are minimum. (iii) Over excitation T he motor is said to be overexcited if the field excitation is such that Eb > V. Under-such conditions, current Ia leads V and the motor power factor is leading as shown in Fig. (11. 9 (iv)). Note that Er and hence Ia further turn anti-clockwise from the normal excitation position. Consequently, Ia leads V. From the above discussion, it is concluded that if the synchronous motor is under-excited, it has a lagging power factor.As the excitation is increased, the power factor improves till it becomes unity at normal excitation. Under such conditions, the current drawn from the supply is minimum. If the excitation is further increased (i. e. , over excitation), the motor power factor becomes leading. Note. The armature current (Ia) is minimum at unity p. f and increases as the power factor becomes poor, either leading or lagging. 302 11. 10 Phasor Diagrams With Different Excitations Fig. (11. 10) shows the phasor diagrams for different field excitations at constant load. Fig. (11. 10 (i )) shows the phasor diagram for normal excitation (Eb = V), whereas Fig. 11. 10 (ii)) shows the phasor diagram for under-excitation. In both cases, the motor has lagging power factor. Fig. (11. 10 (iii)) shows the phasor diagram when field excitation is adjusted for unity p. f. operation. Under this condition, the resultant voltage Er and, therefore, the stator current Ia are minimum. When the motor is overexcited, it has leading power factor as shown in Fig. (11. 10 (iv)). The following points may be remembered: (i) For a given load, the power factor is governed by the field excitation; a weak field produces the lagging armature current and a strong field produces a leading armature current. ii) The armature current (Ia) is minimum at unity p. f and increases as the p. f. becomes less either leading or lagging. Fig. (11. 10) 11. 11 Power Relations Consider an under-excited star-connected synchronous motor driving a mechanical load. Fig. (11. 11 (i)) shows the equivalent circuit for one phase, while Fig. (11. 11 (ii)) shows the phasor diagram. Fig. (11. 11) 303 (i) (ii) Input power/phase, Pi = V Ia cos ? Mechanical power developed by the motor/phase, Pm = Eb ? Ia ? cosine of angle between Eb and Ia = Eb Ia cos(? ? ? ) Armature Cu loss/phase = I 2 R a = Pi ? Pm a Output power/phasor, Pout = Pm ?Iron, friction and excitation loss. (iii) (iv) Fig. (11. 12) shows the power flow diagram of the synchronous motor. Fig. (11. 12) 11. 12 Motor Torque Gross torque, Tg = 9. 55 where Pm N-m Ns Pm = Gross motor output in watts = Eb Ia cos(? ? ? ) Ns = Synchronous speed in r. p. m. Shaft torque, Tsh = 9. 55 Pout N-m Ns It may be seen that torque is directly proportional to the mechanical power because rotor speed (i. e. , Ns) is fixed. 11. 13 Mechanical Power Developed By Motor (Armature resistance neglected) Fig. (11. 13) shows the phasor diagram of an under-excited synchronous motor driving a mechanical load.Since armature resistance Ra is assumed zero. tan? = Xs/Ra = ? an d hence ? = 90Â °. Input power/phase = V Ia cos ? Fig. (11. 13) 304 Since Ra is assumed zero, stator Cu loss (I 2 R a ) will be zero. Hence input power a is equal to the mechanical power Pm developed by the motor. Mech. power developed/ phase, Pm = V Ia cos ? Referring to the phasor diagram in Fig. (11. 13), (i) AB = E r cos ? = I a X s cos ? Also AB = E b sin ? ? E b sin ? = I a X s cos ? or I a cos ? = E b sin ? Xs Substituting the value of Ia cos ? in exp. (i) above, Pm = = V Eb Xs VEb Xs per phase for 3-phaseIt is clear from the above relation that mechanical power increases with torque angle (in electrical degrees) and its maximum value is reached when ? = 90Â ° (electrical). Pmax = V Eb Xs per phase Under this condition, the poles of the rotor will be mid-way between N and S poles of the stator. 11. 14 Power Factor of Synchronous Motors In an induction motor, only one winding (i. e. , stator winding) produces the necessary flux in the machine. The stator winding must draw re active power from the supply to set up the flux. Consequently, induction motor must operate at lagging power factor.But in a synchronous motor, there are two possible sources of excitation; alternating current in the stator or direct current in the rotor. The required flux may be produced either by stator or rotor or both. (i) If the rotor exciting current is of such magnitude that it produces all the required flux, then no magnetizing current or reactive power is needed in the stator. As a result, the motor will operate at unity power factor. 305 (ii) If the rotor exciting current is less (i. e. , motor is under-excited), the deficit in flux is made up by the stator. Consequently, the motor draws reactive power to provide for the remaining flux.Hence motor will operate at a lagging power factor. (iii) If the rotor exciting current is greater (i. e. , motor is over-excited), the excess flux must be counterbalanced in the stator. Now the stator, instead of absorbing reactive power, a ctually delivers reactive power to the 3-phase line. The motor then behaves like a source of reactive power, as if it were a capacitor. In other words, the motor operates at a leading power factor. To sum up, a synchronous motor absorbs reactive power when it is underexcited and delivers reactive power to source when it is over-excited. 11. 15 Synchronous CondenserA synchronous motor takes a leading current when over-excited and, therefore, behaves as a capacitor. An over-excited synchronous motor running on no-load in known as synchronous condenser. When such a machine is connected in parallel with induction motors or other devices that operate at low lagging power factor, the leading kVAR supplied by the synchronous condenser partly neutralizes the lagging reactive kVAR of the loads. Consequently, the power factor of the system is improved. Fig. (11. 14) shows the power factor improvement by synchronous condenser method. The 3 ? ? load takes current IL at low lagging power factor cos ?L. The synchronous condenser takes a current Im which leads the voltage by an angle ? m. The resultant current I is the vector sum of Im and IL and lags behind the voltage by an angle ?. It is clear that ? is less than ? L so that cos ? is greater than cos ? L. Thus the power factor is increased from cos ? L to cos ?. Synchronous condensers are generally used at major bulk supply substations for power factor improvement. Advantages (i) By varying the field excitation, the magnitude of current drawn by the motor can be changed by any amount. This helps in achieving stepless control of power factor. ii) The motor windings have high thermal stability to short circuit currents. (iii) The faults can be removed easily. 306 Fig. (11. 14) Disadvantages (i) (ii) (iii) (iv) There are considerable losses in the motor. The maintenance cost is high. It produces noise. Except in sizes above 500 RVA, the cost is greater than that of static capacitors of the same rating. (v) As a synchronous m otor has no self-starting torque, then-fore, an auxiliary equipment has to be provided for this purpose. 11. 16 Applications of Synchronous Motors (i) Synchronous motors are particularly attractive for low speeds (< 300 r. . m. ) because the power factor can always be adjusted to unity and efficiency is high. (ii) Overexcited synchronous motors can be used to improve the power factor of a plant while carrying their rated loads. (iii) They are used to improve the voltage regulation of transmission lines. (iv) High-power electronic converters generating very low frequencies enable us to run synchronous motors at ultra-low speeds. Thus huge motors in the 10 MW range drive crushers, rotary kilns and variable-speed ball mills. 307 11. 17 Comparison of Synchronous and Induction Motors S. Particular No. 1.Speed 2. 3. 4. Power factor Excitation Economy 3-phase Induction Motor Remains constant (i. e. , Ns) from Decreases with load. no-load to full-load. Can be made to operate from Operates a t lagging lagging to leading power factor. power factor. Requires d. c. excitation at the No excitation for the rotor. rotor. Economical fcr speeds below Economical for 300 r. p. m. speeds above 600 r. p. m. Self-starting No self-starting torque. Auxiliary means have to be provided for starting. Complicated Simple More less Synchronous Motor 5. Self-starting 6. 7. Construction Starting torque 308

How Banking Law Affects Finance Management Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3362 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? The Bank of England (hereafter also BOE, the Bank) was once a regulatory and supervisory body of all banks and financial institutions in the United Kingdom but this has changed since the happenings of Bank of Credit and Commerce International (BCCI) in 1991, it was one of the worlds largest banks at the time; some refer what happened as Britains biggest banking scandal while some describe it as one of the biggest bank fraud in history. Whatever it was remembered as; what we should recognise is that the BCCI scandal has had significant impacts in the world of banking (particularly for the United States and United Kingdom). The bank (at least the UK branches) was forced shut by the Bank of England in the summer of 1991 after having confirmed that it has been involved in numerous fraud activities, of money laundering, and so on. Don’t waste time! Our writers will create an original "How Banking Law Affects Finance Management Finance Essay" essay for you Create order Allegations was made against the BOE, criticising its poor oversight of the banking sector and that it had, again and again, ignored the warnings that could have proved the criminal nature of BCCI. Consequent to what had happened, when the Labour Government came into power in 1997; the BOEs responsibility as a regulator and supervisory body has been transferred to the Financial Services Authority (FSA- by the BOE Act 1998). The recent financial crisis has raised doubts, once again, and this time on the FSA. Doubts were brought on the effectiveness of the FSA in fulfilling its principal role of regulating all financial services and whether are they competent enough in the continuation of role. George Osborne (the Chancellor of Exchequer) seems relatively keen in scrapping the FSA and significantly to transfer responsibility for dealing with the day-to-day supervision of banks and financial services back to the Bank of England- he seems determined to re-empower the BOE of its original role. In his first Mansion House Speech in the summer, he made it clear that the Financial Services Authority will cease to exist in its current form. But should this really be done? After all financial crisis hits the world once every 10 years or so, this is somewhat inevitable and it is only a part of the economic cycle. The answer which we aim to approach by the end of this essay is whether the powers, in fact, should be reverted back to the BOE, while simultaneously; trying to discover whether does the BOE at present hold sufficient powers over banks (and particularly commercial banks since risks usually arise in them) or should the powers it holds be increased or decreased. The two questions are directly linked since when we say that the BOEs power should be increased; the most significant power that should be handed to them was the power that was taken away from them in 1998. On the other hand, when we say that their powers are to be decreased, it could mean no further than that the supervisory powers that were taken away from them should be remained as it is- this is so since any further decease in power will make the BOE a central bank with only carries with it the title as a central bank but in fact does not operate as one. It is essential, in order to discover answer these questions, to first look at the powers which currently vest with the BOE and the FSA. BOE and the FSA What should be understood is that the Bank of England remains of crucial importance in the operations of banks and in banking law even after the transfer of some of its functions to the Financial Services Authority in 1998; it remains the banks bank and more so, despite the transfer, the Bank retains responsibility for the integrity of the financial system as a whole. So what does it do? First, it should be noted that the BOE acts as a banker to the government. What we meant by this is that it hold the accounts of the central government, they hold accounts for the Exchequer (the governmental department that receives and controls national revenue). Moreover, it acts as a banker to other banks (hence why it is the banks bank). We could see this in three aspects: It means that the leading banks (Lloyds TSB, Barclays, Santander, HSBC etc.) keep their accounts with the BOE and therefore, settle their obligations (to pay one and other) at the bank- it occurs by way of an accounting process. The BOE is the lender of last resort- in exceptional circumstances; the BOE will intervene and rescue a bank which is facing financial problems in order to promote the sustainability of the banking system. A good example we saw recently is the problems which was faced by Northern Rock. The BOE has a virtually monopoly in issuing banknote in the United Kingdom (though limited powers is given to certain banks in Scotland and Northern Ireland). Furthermore, as we have suggested, since the Bank of England retains responsibility for the integrity of the financial system as a whole, we see that it is specifically responsible for: a) Stability of the monetary system, b) Financial system infrastructure and particularly the payment system, c) the overview of the financial system as a whole, d) the ability to conduct financial rescue operations, and e) the efficiency and effectiveness of the financial sector. Stability of the monetary system simply means stable prices and this encompasses within it, two elements; low inflation and confidence in the sterling, and this is defined by the government with its inflation targets. The BOE has been given powers (under the BOE Act) for the formulation of monetary policy and this is usually implemented through the setting of interest rates (which they have a monopoly under Part II and Schedule 3). The Banks Monetary Policy Committee meets each month to set the official base rate of interest for the economy. With regards to payment systems, the Banking Act specially enables the BOE to oversee payment systems between financial institutions. As we have iterated again and again, the Financial Services Authority is now the regulatory and supervisory body for all banks and financial institutions in the United Kingdom and this remains so until real changes take place (i.e. Our Chancellors proposal to scrap it), reverting this power back the BOE. The Financial Services and Market Act (FSMA) which came into force on 1st December 2001, provides the functions, responsibilities and powers of the FSA. Further, by result of the Act; the FSA became the official Single Financial Services Regulator for the United Kingdom. The prior distinction between the different financial services regulators; for banks of which is the BOE, for insurance of which is the Department for Trade and Industry for example; were removed and the Financial services Authority became the regulator responsible for all forms of financial services- banking, insurance and investment business are all within the scope of its regulatory power. Whilst enormous powers h ave been conferred on the FSA by the FSMA, it is also provided under that that the FSA must act compatibly (in accordance) within four regulatory objectives- Section 2; 1) to maintain confidence within the financial system, 2) to promote public understanding of the system, 3) to secure the suitable degree of protection for consumers and 4) to reduce financial institutions from making use of a regulated business for financial crime. Additionally, it is specifically provided under Section 2(3) that, when discharging its general functions, the FSA must have regard to seven additional factors; and this includes (amongst others), to make efficient use of its resources and to ensure proportionality between burden and restriction imposed with the benefits. But what responsibility do FSA actually have? The Memorandum of Understanding, provides that under FSMA, the FSA responsible for (amongst others): i) authorisation of activities and prudential supervision of banks and financial instituti on, and ii) supervising the financial system, securities listings, clearing and settlement system. With regards to the 1st responsibility, for banks, the FSMA provides that the FSA must grant authorisation for institutions to carry out the business of banking (accepting deposits as well as issuing loans at an interest)- Section 19 imposed an overall prohibition on anyone carrying out or purporting to carry out a regulated activity (banking activities fall within the ambit of regulated activities) and this is so except where they have been authorised or where they have been exempted from authorisation (Section 19(1)). As we have thus far noted, there is no single body, in truth, in the regulation of the financial system (even though the upper-hand powers seem to lie with the FSA). Also, what should be noted is that the Treasury also plays a part in this (this includes the politicians- hence why politics plays a role in banking and banking regulation); and together (the 3 bodies) has a shared objective of financial stability. They work together towards their objective by whats called the tripartite agreement (in which stipulate it is their shared responsibilities to achieve financial stability- or so it says as we will see) and this was the position until the recent global financial crisis where not even one of the bodies sees it coming. Initially, it was believed that none of the bodies were effective in satisfying their job but after investigation, it was claimed that essentially it was the FSA who was asleep in their job. Argument for and against the reversal of powers back to BOE As we shall see later, the arguments for the programme described to be restoring the previous glory of the BOE are relatively strong, at least so far as demonstrating that changes to the current governance of the financial system are eminent. In Sir Martin Jacobs report: Re-empower the Bank of England, the former Director of the Bank of England seem somewhat supportive of the view of Mr Osborne and described the arrangement of the 3 bodies ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦contributed to the failure of the regulatory systemÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ and which is, in turn, a central cause of the catastrophe which engulfed our economy. What appears relatively clear since the recent global financial crisis is that, it is quite unlikely that anyone would (any longer) back Gordon Browns decision in 1997 on the transfer of BOEs responsibility for prudential supervision of banks and financial institutions to the FSA. It was said that whilst the tripartite agreement appears to give the r esponsibility for financial stability to all of the 3 bodies, the main role (if not the sole) in fact lies with the BOE- as could be seen in the agreement; the BOE has to ensure the stability of the financial system through its monetary policies and maintaining a broad overview of the system. Consequently of this de facto responsibility, the supporters claimed, the fact that the supervision of individual banks and the financial institution has been taken from the BOE meant that they no longer have any direct touch with them making it impossible to know what was going on in the credit markets. The effect of the transfer of powers meant that the BOE have no access to information, and more significantly, they lacks whats necessary to fulfil their responsibility of financial stability- as they no longer have direct touch with banks (whats important in our perspective) and financial institutions, the BOE could not have (sufficient) influence them (and thus in no way could it actually hav e any control). On that front, one may argue that this does not matter since the tripartite agreement depends upon the flow of information between FSA and BOE; and thus as long as there was an effective flow of information, there couldnt have been any issues since BOE can simply alert the FSA if it notices any warnings that could harm the stability of the financial sector. Yet, this is precisely the point, the BOE could only alert if they are direct touch and without that power, it meant it is impossible for them to do so. Also, this counter-argument was flawed on the ground of the recent financial crisis- for example: The FSA has explained that the happenings with Northern Rock were the outcome of the lack of the flow of information between it and the Bank- The Bank of England left in the dark and was thus unaware of the danger. The Proposals put forward by the Chancellor in which will be of major significance to banking law (if it were to be brought) were that the FSA would be broken up, the supervisory and regulatory powers would be taken by a new Prudential Regulation Authority (PRA), it will operate as a subsidiary of the BOE. Moreover, a new committee (the Financial Policy Committee- FPC- another subsidiary) will be introduced and it will be responsible for attaining financial stability (which obviously is a function of the BOE). With regards to the part of the FSA which was supposed to protect consumer and crack on crimes, it will be injected into 2 new agencies. Our main focus, evidently, lies with the creation of PRA and FPC, which as far as the proposal suggests, will become the subsidiaries of the bank. This is obviously an important change and an improvement from pre-1998. Prior to the decision taken by Gordon Brown, the BOE was responsible for the regulation and supervision of banks and financial institutions and this is one of its responsibilities along with many others. The meaning of this change, however, is that although, it is still the BOE which is still responsible but this is delegated to its subsidiary, and they will be accountable to the BOE. In such a way, direct flow of information could be, to a degree, guaranteed and this would avoid the problem that arose with Northern Rock. It has also been strongly asserted (by Melvyn King and Sir Martin Jacob for example) that the one of the flaws with the current system was that the BOE was not fully involved in resolving troubles which bank faces. Without direct touch and therefore no knowledge of the states of banks meant that the BOE cannot provide support when bank needs help. More so, even if there were effective flow of in formation between the FSA and the BOE, the BOE lacks the advantage of having first-hand information which would allow them to act efficiently. Remember, the BOE have many functions and amongst this was that it is the lender of the last resort. How could it possible make effective use this function if they do not have direct touch and the most up-to-date knowledge of the health of the banks? as pointed out by Mervyn King (Governor of the BOE). Furthermore, as we said earlier, how could the Bank achieve its core objective of financial stability if they could not actually supervise and regulate banks and financial institution? The reliance on the working of the three bodies (and in particular; the FSA and the BOE) together towards the objective of financial stability are defective in the sense that we have already mentioned and was proved to be a failure in the recent financial crisis. Scrapping the division of control between the FSA and the BOE, accordingly, should certainly improve the state of our financial system. Whilst we saw that there are a number of arguments in flavour of re-empowering the Bank of England, one thing we can possibly ask is to what extent could this avoid another financial crisis? The structure proposed appears to be a bureaucratic system of control whereby each of the subsidiaries; the FPC, MPC and PRA would be accountable to the BOE and in such a way, it was hoped the BOE to satisfy their two core objectives; monetary stability and financial stability. The problem with such a structure is that again there is a reliance on the flowing of crucial information between the subsidiaries. As with (for example) a company which operates a bureaucratic structure where all departments is under the control of the managing director and therefore are all going after the companys goal, each department still have distinctive roles and communications can sometimes be very difficult. The same applies to the system we have here, although they are all under the same objectives, the fact tha t they have different role can make communication difficult. As proven by past experience, effective communication of information is not easy and subsuming the 3 bodies under the BOE can result in a complex structure and could simply not work. After all regulating and supervising banks so as to avoid them from doing unauthorised activities and avoiding risks from building up (by for example by setting a limit in capital holding and amount in which it could lend etc.) fall within the responsibility of PRA but all these could have an effect that coincides with the responsibility of FPC. Being able to work together and ensuring a sufficient flow of information, thus, is the key to any governance of the financial system. The structure is not necessary if we could guarantee these two elements between the FSA and the BOE. What we must not ignore is the fact that global financial crisis (as we have already said) is only part of the economic cycle and thus it is wrong for radical changes ev ery time it ticks. Rather what should be brought are perhaps improvements, and the fact that the earlier Labour Government brought a new committee to help improve communications between the three bodies, may very well be adequate. Having due regard of the arguments posed for and against the re-empowering of the BOE, it seems relatively evident that the arguments for the proposal stood much stronger than that against. If it is one of the BOEs core objectives to sustain financial stability, it could not do so without the regulating and supervising powers of banks and financial institutions and the current division of control (that of FSA and BOE mainly) creates inefficiency in the financial system. Besides, the fact that the BOE is the lender of the last resort, and yet it is receiving information on the health of the banks (under the current system) after the FSA, will altogether, delay decision makings of the BOE (i.e. whether to give loan to a bank- for example: Lloyds TSB in the recent crisis). This could accordingly result the financial system in getting to the worse side- where remedial actions could no longer effective. Leaving it too late appears, however, inevitable under the current system. Even if it was true that we should not undertake radical changes every single time we suffer from a financial crisis, but the current changes appears essential to ensure the efficiency and effectiveness of the the financial system. Rather, what should be remembered for the next financial crisis (which will be inevitable) is that we are human-beings (which the BOE consist of) and so there is always going to be errors. We should allow for a margin of error and until it passes an unforgiveable level. In fact, nothing should really be changed if the system has been working so well until the financial crisis pop-up. Drawing up all the considerations, it appears that re-empowerment of the BOE is crucial and that the powers that it currently holds are insufficient to fulfil its responsibilities as a central bank (monetary and financial stability). For the reason that majority of the risks usually come from commercial and investment banking meant that the powers it holds, is particularly insufficient since these banks are usually big in size and therefore is unlikely to listen to advices of the Bank unless when they themselves realises the risks. As we have said, if the powers of the Bank is ever to be further reduced, the BOE would become a de june central bank with no actual functions as one. Increasing the current powers (as proposed- to return its regulatory and supervisory powers) will give the bank a de facto regulatory role which would give it satisfactory controls over banks as well as other financial institution. The latter is what is necessary and is what should, in fact, be done.

Hersheys Continued Use of Unethical Practices Forced...

| Forced Child Labor | Hershey’s Continued Use of Unethical Practices | | Jared Bevier | 2/16/2012 | Business Ethics Rasmussen College Winter Quarter | â€Å"Worldwide, 126 million children work in hazardous conditions, often enduring beatings, humiliation, and sexual violence by their employers.† (â€Å"Child Labor Facts†, 2011) Hershey’s Cocoa has been targeted by U.S. protestors, Global Exchange, Green America, The International Labor Rights Forum, and Oasis USA for failing to eliminate exploitative child labor from its cocoa production supply chain. The illegal use of child labor in chocolate production must stop. Chocolate produced by children is not only unethical it is a crime.†¦show more content†¦Hershey needs to practice more ethical behavior when it comes to choosing their suppliers. They need to implement checks and balances that ensure that children are not being used in the production of their products. On a societal level the issues that need to be addressed are the fact that child labor is illegal, the fact that it applies to a large number of people, and also that child labor eli cits norm violations in our society. Our constitution strongly prohibits child labor by mandating that children receive a proper education and the right to live as children. Moreover, it is a societal problem because our society rejects child labor, yet its condition persists. Children no matter where they live should not be exposed to the harshness and injustices in this world; children should be supported and not the ones supporting; children should be protected and children should be allowed the basic right to enjoy life. Hershey has been accused of â€Å"greewashing† the problem instead of trying to fix it. They need to take steps to ensure that child labor is not used in their supply chains. There are actions that Hershey can take to stop the use of child labor. One action that can be taken is that Hershey needs to make certain that their supply chain meets industry standards. They need to begin by tracing their supply chain back to the farm level, sourcing only from farmers who can show through independent verification thatShow MoreRelatedRogers Chocolate Analysis21131 Words   |  85 PagesTraditional Assortment | Dark Chocolate Empress Squares | After Dinner Mints Rogers Mint Imperials Assortment | | Baking Fondue ROGERS FAMOUS CHOCOLATE NOW AVAILABLE FOR HOME-BAKING Those who love to bake, and bake well, will only use the finest ingredients in their recipes. Rogers new premium baking chocolate is the perfect addition to anyone s favorite recipe; whether it s a chocolate soufflà ©, classic chocolate chunk cookies, better caffe mocha or simply a cup of gourmet hotRead MoreAccounting 1-4 Chapter100452 Words   |  402 PagesDecision Toolkit Review Summary of Study Objectives Work Comprehensive Do it! p. 23 Answer Self-Test Questions Complete Assignments Go to WileyPLUS for practice and tutorials Read A Look at IFRS p. 42 study objectives After studying this chapter, you should be able to: 1 Describe the primary forms of business organization. 2 Identify the users and uses of accounting information. 3 Explain the three principal types of business activity. 4 Describe the content and purpose of each of the financial statements

Great Gatsby Color Symbolism - 2467 Words

During the 1920’s, many people would disguise themselves through the identities of someone else. In the novel, The Great Gatsby by F. Scott Fitzgerald, the main characters can be seen â€Å"hiding† behind the symbolism of different colors. Color affects the mood, emphasizes the importance of events in a novel, and can also interact with the personalities of the characters. The concept of color symbolism is prominent in the novel. White, yellow, blue, green, and even the color black affect the atmosphere of scenes through association with a specific mood, and also through the actions of the characters. The color white is associated with purity and innocence. Gatsby and Nick, the main male characters in the story, can be affiliated with this†¦show more content†¦When Gatsby was stopped by the police for speeding, he got out of it by â€Å"taking a white card from his wallet, and waving it before the man’s eyes† (Fitzgerald 68). This here shows how innocent Gatsby can be, just by using something white. When we turn our focus to Nick, we see that he believes that he himself in the most honest person he knows, and how he is usually dressed in white to symbolize his innocence. An important event in the novel is when Nick goes to Gatsby’s party for the first time, â€Å"Dressed up in white flannels, I went over to his lawn a little after seven† (Fitzgerald 47). Nick dressing in white symbolizes how he is immaculate, unlike the others at the party who could be labeled as corrupt. â€Å"White traditionally symbolizes purity, and there is no doubt that Fitzgerald wants to underscore the ironic disparity between the purity of the characters, and their actual corruption† (Schneider 146). The color yellow can be connected with the symbolism of greed, desire for wealth, and â€Å"old money†. Corruption is also distinctly represented by yellow, but death is also a key to yellows dark symbolism. The color yellow can be seen around a tragic death. The first time this is seen is when Myrtle is killed. She is the mistress of Tom, and is also married to a man named George Wilson. Myrtle was killed by Gatsby’s yellow Rolls Royce, in front of her yellow brick house, and under the yellow spectacled eyes of Dr.Show MoreRelatedColor Symbolism In The Great Gatsby802 Words   |  4 Pages In Fitzgerald’s The Great Gatsby, color symbolism is stronger throughout the entire book. There are multiple colors that allow the book to come together as a whole. There can be many different interpretations or opinions on which colo rs are important. The color symbolism in The Great Gatsby is represented by the colors green, gold, and black. Green is the color that begins the story. A man not known in the beginning, but surely known at end by the name of Jay Gatsby, reaching out to an â€Å"incorruptibleRead MoreColor Symbolism In The Great Gatsby737 Words   |  3 PagesColor express mood and stresses importance of events in a novel. In the Great Gatsby, the symbolism of color is a crucial one. Yellow, white, and green all affect the mood of this novel. Showing how the colors describe the person or thing both physically, and emotionally. The color white was first introduced when Nick meets Tom, and they both walk into this open room where Jordan and Daisy laid in white dresses. â€Å"They were both in white†¦ around the house†(8). The color white in connected to theRead MoreThe Great Gatsby- Color Symbolism2136 Words   |  9 PagesThe Power of Color Colors are used many different ways by many different people, but are used mainly as a reflection of the way one feels or his or her own personality. This idea is depicted through the different characters created in F. Scott Fitzgeralds The Great Gatsby, set in the post-World War I era. The novel evinces the major themes through the use and explanation of many diverse colors. Jay Gatsby, the most significant character in the story, leads a very materialistic lifestyle. HopingRead MoreEssay On Color Symbolism In The Great Gatsby1048 Words   |  5 Pages Euphrates Sackey 9-21-17 English 1011 Z83 Professor Brosh Response to Driving to Destruction with the Rich and Careless at the Wheel Color-Symbolism in The Great Gatsby There is no understanding The Great Gatsby if you do not have at least a basic grasp of the main motifs that are present. Automobiles and colors are two main driving factors in F. Scott Fitzgeralds work and these two ideas work together as well. Many readers are so wowed by the vivid imagery included in this classic thatRead MoreGreat Gatsby Color Symbolism Essay748 Words   |  3 PagesIn Fitzgerald’s â€Å"The Great Gatsby†, color symbolism is used throughout the entire book. There are many different colors that allow the book to come together as a whole. Although various, there are key colors that stand out in the book. There can be many different interpretations or opinions on which colors, but it can be represented by three key colors. The color symbolism in â€Å"The Great Gatsby† is represented by the colors green, gold, and black. The color green is the color that begins the storyRead MoreEssay On Color Symbolism In The Great Gatsby994 Words   |  4 Pagescharacters and their stories. As a result, everything from the start to finish is set for a reason. A great example of this is Great Gatsby. F.Scott Fitzgerald named his characters to create subtle imagery to describe their personality and status. The name and color symbolism techniques he uses allow the audience to pick up and realize some hints to author’s message as they read. 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Identical to an artist, F. Scott Fitzgerald makes use of light and color in his masterpiece to create float and harmony. There is, however, an additional, extensive motive for his use of light and coloration symbolism. Fitzgerald uses lights and hues to focus on the critical battleRead MoreColors and Symbolism in The Great Gatsby by F. Scott Fitzgerald1290 Words   |  6 PagesSymbolism is the use of symbols to supply things with a representative meaning or to represent something abstract by an existing object. In the nove l The Great Gatsby by F. Scott Fitzgerald, colours are used to symbolize a person’s inner thoughts and feelings. Colours, such as green, white are used to find ones true feelings; while others use colours to hide their true persona. Colour symbolism is used to convey a deeper message to the readers and help us understand the characters true colours. Read More Color Symbolism in the Great Gatsby by F. Scott Fitzgerald Essay example2801 Words   |  12 PagesColors are an essential part of the world around us. They can convey messages, expressing that which words do not. Gentle blue tones can calm a person and bright yellows can lift the spirits. If an artist is trying to express sorrow or death he often uses blacks blues, and grays basically he uses dreary colors. Without one word, a driver approaching a red traffic light knows to stop. Colors are representative of many things. In his novel The Great Gatsby, F. Scott Fitzgerald uses color symbolism

How Music Affects Concentration and Work Efficiency free essay sample

If we can find a way in which music benefits studying and comprehension, we can involve music in our studies thus enhancing the enjoyment of time studying as well as enhancing our earning abilities. Music is powerful. It has the potential to evoke emotions and personality. Because of the profound effects music has on the human race, It has been a common link been. en cultures around the world for centuries. Not only does music provide entertainment and beautiful sounds, but it has an amazing effect on memory and learning.It has been found that people who study music have better Spas and are higher achievers than those who arent involved in music. It is also true that Hungary, Japan and the Netherlands are the top three academic countries in the world and they all lace a great emphasis on music education and participation in music. With that fact, the United States should promote music education in all students and stress the importance of music from an early age when children are curious and adventurous. We will write a custom essay sample on How Music Affects Concentration and Work Efficiency or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Through recent scientific studies there has been a much greater understanding on music and it?s psychological effects.There have been countless studies performed to understand the complex correlation of the complicated brain and music. For example, in a study performed by Mark Tartan, David Harvested, and Adrian North, the men ought to examine the manipulation of the mind based on music. In the study, they played music in a gym and examined the moods through testing their subjects immediately following their workout. They offered the participants the ability to help out a charity, thus examining the affect that the music had on them. They measured two different groups, those who listened to annoying music and those who listened to uplifting music.The results revealed that the uplifting music did in fact manipulate the mind by causing the subjects to be more supportive, while the people who listened to the annoying music were short-tempered and unhelpful. Another famous study has dealt with how Mozart?s masterpieces help concentration and memorization when studying for academics. It has been found in many different studies that because of the mathematical rhythms in Mozart?s musical pieces, mental clarity is enhanc ed, therefore improving study skills. After researching this study, our group was able to construct our own hypothesis.The study also made us more hopeful that our hypothesis would turn our conclusive. An experiment performed by Teresa Leslie dealt with the effect of listening to music on work performance. She concluded that quality of work and time-on-task work was least efficient with no music. Her experiment showed that people produce more quality work while listening to music and they finish their work faster when listening to music. It also stated that work environments with music help employee moods. This study helps our experiment, but lacks the difference in music genres on work efficiency. With our experiment, we will be able to take this specific study even further by finding out what specific genre of music helps work efficiency and mood. Exploring multiple sources and studies performed by other scientists has only eloped strengthen our own experiment and shed light onto different facets of our study. With the help of outside information, we hope to provide a well constructed experiment with reliable results. From our research, we have built a vast base of knowledge on not only musics effects on the mind, but mood, tension, and other factors which could possibly hinder our experiment.The knowledge we have gained on the diverse human responses to various genres of music have helped support our belief that music can in fact have both beneficial and harmful consequences. Our study seeks to examine not only our narrowly defined question, but several broader inquiries. Walking into King Library, there are a vast number of students hard at work while tuned into their pods. In our study, we seek to examine what genre of music will be most beneficial. On a larger scale however, our study examines several broader topics and has many far reaching effects on students lives.The study will work to reach conclusions on how students can improve academic performance as well as comprehension and mental efficiency. In researching this topic, we have come across many studies that also explore the link teen music and the mind. Harvested, David, Mark Tartan, and Adrian North. The Effects of Music on Helping Behavior. Environment and Behavior 36 (2004). 10 Seep 2005 . This was an extremely beneficial study was performed on this topic by Mark Tartan, David Harvested, and Adrian North. These men sought to examine the manipulation of the mind based on music.They played music in a gym and examined the moods through testing music had on them. They had two different groups which they measured those who listened to annoying music and those who listened were exposed to uplifting music. The results revealed that the uplifting music did in fact manipulate the mind by causing the subjects to be more supportive. Weinberg, Norman . The Mozart Effect: A Small Part of the Big Picture. 7 deed. Sacramento: Regents of the University of California, 2000. One particular article we came across examined the effect of classical musics mathematical rhythms.

Government Planned To A Free Economy †Free Samples For Students

Question: Discuss About The Government Planned To A Free Economy? Answer: Introduction China has had an outstanding period of rapid growth since it changed from a government planned to a free economy. It is currently an upper middle-income country with compound development needs where the Bank is playing a critical role. By 2015, China had accomplished the Millennium Development Goals (MDGs) and played a central role in the achievement of the MDGs across the globe. With a populace of approximately 1.3 billion, China has the second biggest economy and is performing an indispensable role in the development of the world economy(The World Bank, 2017). Chinas top industries incorporate mining and ore processing, cement, textiles and apparel, machine building, chemicals, and petroleum. Electrical machinery, furniture, and industrial machinery are some of China's top exported goods with United States, Japan, and Hong Kong being the top trading partners(Globaledge, 2017). Despite rapid economic development, the countrys GDP per capita is still below the global standards. Other notable issues facing China include rapid urbanization, an aging population, and challenges to environmental sustainability(Cui, 2017). Therefore, this paper explores the economic progress of China between 2000 and 2016. Key economic indicators analyzed include the GDP growth rate, unemployment, GDP per capita and inflation. Production Output Performance Analysis Gross Domestic Product Gross Domestic Product is a measure used to assess annual variations in the inflation-adjusted prices of the total commodities created in an economy. It is a full appraisal of economic development and a vital indicator of the health of an economy over the short term and long term. Since the Gross Domestic Product depicts the economic progress of a country, it permits the policymakers to establish whether an economy needs a restraint or boost(Goodwin, Nelson, Harris, 2014). GDP Growth Rate GDP growth rate refers to the yearly percentage fluctuations in the Gross Domestic Product of a nation. This measure is one of the instruments used to understand if the countrys economy is expanding or deteriorating. Additionally, the investors depend on the GDP growth rate to adjust asset allotment in their portfolios(McTaggart, Findlay, Parkin, 2015). Those economies whose GDP growth rate is stable are known to attract more investors for their stocks and corporate bonds. Chinas GDP Growth Rate (2000-2016) Chart 1: Data retrieved from The World Bank On the graph one above, it is clear that China has recorded a remarkable economic growth. Before the global economic and financial crisis of 2008-2009, China's economy grew steadily and managed to reach 14.23% in 2007. However, on the onset of the financial crisis, the countrys economic growth rate reduced to 9.65% in 2008 and further dropped in 2009 to 9.40%(The World Bank, 2017). Although many economies across the globe such as Japan and Singapore went into recession during the global financial crisis, China managed to escape this economic downturn. Chinas ability to avoid the recession is associated with several factors. Foremost, China went into the crisis in an entirely unique position compared to other economies. For instance, the country was having a budget surplus and had been increasing the interest rates to scale back excessive growth. The financial institutions in this country had restricted consumer spending and excessive credit. Moreover, when the crisis began, the Chine se government adopted aggressive monetary and fiscal stimulus which played a vital role in re-accelerating the economy. The government lowered the interest rates, relaxed restrictions on credit and increased government expenditure with the view of boosting household consumption(Xu, 2016). Since the Great Depression of 2009, China's economic growth has remained above 6.70%. This outstanding growth is as a result of sound government policies. GDP per Capita Analysis GDP per capita is an economic measurement that depicts the economic output for every person in a country. This analysis distributes the Gross Domestic Product with the overall population in an economy. Hence, GDP per capita provides an excellent estimate of the living standards of people in a given country. Additionally, GDP per capita is used by economists to compare the strength of different economies all over the world(Sloman, Wride, Garratt, 2015). In most cases, the advanced economies have higher GDP per capita than the less developed and developing countries. Chinas Versus Australias GDP Per Capita (Constant 2010 US$) Chart 2: Data retrieved from The World Bank The chart two above displays the GDP per capita of China and Australia between 2000 and 2016. It is evident that Australias GDP per capita significantly surpasses that of China. For example, in 2016, China's GDP per capita stood at 6,894,464 U.S Dollars while that of Australia was 55,670,924 U.S Dollars(The World Bank, 2017). This scenario shows that the residents of Australia have higher living standards than that of Chinese. It can also be noted that the GDP per capita of both nations is increasing gradually and hence continued improvement in their living standards. Government Measures to Accelerate Economic Growth Infrastructure Development The expansion of infrastructure in China has always been the central focus for the leadership in the economic enhancement initiatives. The fundamentals under which additional infrastructure is being constructed incorporates guaranteeing sustained fast economic increase with airports, roads, energy, water, railway, and rural projects receiving considerable investment. The unrelenting expansion of city-wide metro networks and high-speed rail are prime instances of China's aspirations to boost its transport systems further to profit the wider economy(Shiu, Li, Woo, 2016). Tax Incentives for Small Businesses In the recent years, the Chinese government has been issuing tax breaks to small enterprises with a view of reducing the corporate burden to support economic progress. For instance, from 1st January 2017 to 31st December 2019, the small ventures with a yearly taxable income that does not exceed 73,599 U.S Dollars will be entitled to tax preferences. During this period, the small businesses that are eligible will have their corporate income tax base reduced by half with a tax rate of 20%(Cui, 2017). Moreover, the government is continually streamlining the tax structure to establish a simpler and a more transparent tax system. Improving Education and Training Better education and training are vital for the growth and improvement of the economy, especially over the long term. Education avails the required human resource to provide labor and stir the productivity of the country. As a result, the Chinese government gives priority to education and training in its development strategy. The government is persistently investing in learning, research and development to enhance efficiency in the economy and stimulate economic growth and development(Cui, 2017). Labor Market Analysis Meaning and Types of Unemployment The term unemployment is used to refer to a state where eager and able to work persons are incapable of finding employment at the existing wage rate. Unemployment is an issue not only among less developed economies but also in rising and higher economies. The typical types of unemployment in an economy include frictional, cyclical, and structural unemployment(Goodwin, Nelson, Harris, 2014). Frictional Unemployment Frictional unemployment arises in a country when recruits are moving between jobs or when fresh graduates enter the labor market and remain jobless for some time before securing employment. Frictional unemployment often last for a short term and is a natural part of job search(Goodwin, Nelson, Harris, 2014). Also, this kind of unemployment is facilitated by the lack of perfect information in the labor market and exists in all countries. Structural Unemployment Structural unemployment results from structural changes. When modifications take place in the formation of an economy can cause skill discrepancy and therefore structural unemployment. The mechanization of duties at the place of work is known to result in this type of unemployment as machines replace the use of human labor(Goodwin, Nelson, Harris, 2014). In such circumstances, the affected workers find it difficult re-employed unless they are retrained. Cyclical Unemployment Cyclical unemployment is an unintentional category of unemployment that is caused by too little demand for products in an economy. This unemployment is occasionally called Keynesian demand deficient unemployment(Goodwin, Nelson, Harris, 2014). It often occurs during recessions when firms close down or lay off some workers. Chinas Unemployment Trend Chart 3: Data retrieved from The World Bank From 2000 to 2007, the unemployment rate in China declined gradually. In 2000 unemployment was 4.53% whereas in 2007 the unemployment stood at 3.76%. However, on the beginning of the worldwide financial crisis, the unemployment started rising. In 2008 and 2009 the unemployment was 4.36% and 4.29% respectively. Since then, unemployment has ranged between 4% and 4.6%(The World Bank, 2017). Government Measures to Curb Unemployment Support for Small and Medium Sized ventures The small and micro businesses play a significant role in accelerating employment creation, improving economic expansion, and scientific innovation. As a result, the Chinese government is actively supporting the expansion of SMEs. The support focuses on the healthy development of SMEs from several aspects such as finance, human resources development, funding, taxation, innovative development, and market exploration. For example, Peoples Bank of China has been guiding the financial institutions to expand to the SMEs(Cui, 2017). Developing the Service Industry Due to the importance of the service sector in an economy, the government of China has put in place measures to boost this particular industry. For instance, in 2013, the government issued a policy for enhancing senior services, promoting the integrated improvement of creative and cultural industries as well as promoting information consumption to inspire domestic demand(Cui, 2017). Strengthening Public Employment Service Public employment service plan focuses on availing an equal access to public occupation services for both the rural and urban people as well as free job services to laborers. Besides, the government agencies hire the services of professional intermediaries and support them to provide employment services through occupation referral subsidy. Price Level Analysis Meaning and Roots of Inflation Inflation refers to the continual rise in the general prices of commodities in an economy. Cost-push and demand-pull influences usually cause inflation. The cost-push factors include those influences that make the cost of doing businesses to shoot up. For example, an increase in the cost of labor and other key inputs like oil leads to cost-push inflation. Demand-pull inflation is caused by those incidences that increase the amount of money in circulation. Some of these incidences include that cause demand-pull inflation incorporates purchase of government bonds, reduction in the interest rates and growth in public expenditure(Sloman, Wride, Garratt, 2015). Chinas Inflation Trend Chart 4: Data retrieved from The World Bank In 2000 and 2001, China registered low levels of inflation, that is, 0.26% and 0.72% and then went into deflation in 2002 (-0.77). Between 2003 and 2008 the inflation in this country remained below 6% before going into deflation again in 2009 due to the effects of the Great Depression. Since then, the inflation in China has been maintained below 6% with 2015 recording the lowest rate, 1.44%(The World Bank, 2017). Government Measures to Attain Stable Prices The Chinese government often combines monetary and fiscal policies to curb inflation. When inflation rises above the target, the government makes use of contractionary policies. For instance, the government can increase the interest rate, reduce its expenditure or sell government assets to shrink the amount of currency in circulation. On the other hand, when inflation is very low, the government deploys expansionary instruments(Xu, 2016). For example, the government may raise the interest rates, buy government assets or reduce its expenditure. Conclusion China has the second leading economy and is undertaking an essential role in the improvement of the global economy. Since 2000, China has registered a remarkable economic growth untouched by the recession. Aggressive monetary and fiscal stimulus which the government initiated during the 2008-2009 global financial crises played a vital role in re-accelerating the economy, and thus China avoided an economic downturn. Chinas unemployment rate has been below 5% with relatively stable prices. However, China's GDP per capita is still below the global standards. Some of the measures the government has put in place to boost economic growth and increase employment creation include infrastructure development, providing tax incentives for small businesses and developing the service industry. Finally, monetary and fiscal instruments are deployed to guarantee stable prices. References Cui, W. (2017). Social Trust, Institution, and Economic Growth: Evidence from China. Emerging Markets Finance Trade , 1243-1261. Globaledge. (2017). China: Economy. Retrieved August 10th, 2017, from Globaledge: https://globaledge.msu.edu/countries/china/economy Goodwin, N. R., Nelson, J. A., Harris, J. (2014). 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