Assessing The Usefulness Of An Ecological Approach Social Work Essay

Assessing The Usefulness Of An Ecological Approach loving feat EssaySocial work theories represent sets of ideas that assist in explaining the reasons for event of events or why specific events happened in particular ways and are used to predict likely future actions of present outcomes.It is burning(prenominal) to appreciate that theories, whilst ground on reasoning and evidence, are not conclusively proved. In sociable work practice they provide alternative frameworks for arrangement issues by the linkage of sets of ideas, and function volume to make sense of specific situations or circumstances. Their application helps brotherly workers in guiding practice and in achieving direction in their efforts.This study takes up the bionomical onward motion for discussion and assesses its usefulness for tender work practice. The ecological cuddle is also compared with humanism and existentialism and its various aspects are critically analysed with compliancy to achievement of managerialism and accountability in social work practice.DiscussionOverview of Ecological ApproachKurt Lewin, (Plas, 1981), states that good theory is essentially practical. It provides a way to look at the world and guides action for the achievement of vision of the way things should be. Ecological theory, many experts feel, fits with Lewins maxim and has the potential to give social workers, both a practical vista for effective social intervention, and a larger perspective for viewing and assessing the social world (Pardeck, 1988, p 92-100). Whilst Roger Barker, (1968), initiated the application of ecological models to compendium of human behaviour, the application of much(prenominal) ecological perspectives to social work practice did not occur until it was taken up by Carel Germain in the mid 1970s (Pardeck, 1988, p 92-100). The ecological approach has since then become progressively popular among social workers and is now commonly used as a practice approach for interventi on (Pardeck, 1988, p 92-100). The approach, disdain becoming more commonly used, does have some major limitations, chief among which is the lack of (a) clear defined procedures for engagement in judicial decision, and (b) specific sets of techniques and strategies for intervention (Pardeck, 1988, p 92-100).The adoption of the ecological approach enables social work practitioners to understand the significance of the adaptive fit amongst the milieu and organisms (Pardeck, 1988, p 92-100). An appreciation of much(prenominal) a fit in turn enables the emergence of a practice model that essentially focuses on the importance of locating ways and means to first assist individuals in adapting to their purlieus and second in the formulation of strategies for changing environmental elements that could cause problems for function exploiters (Pardeck, 1988, p 92-100). It is important to understand three concepts, namely (a) behaviour settings, (b) the ecosy fundament and (c) definiti on of client problems, in order to understand and appreciate the fit between organisms and their environment (Pardeck, 1988, p 92-100). An understanding of these concepts helps in understanding the importantly unconventional and contrastive approach of the ecological perspective (Pardeck, 1988, p 92-100).The concept of behaviour settings provides fresh insights in the relationship that exists between individual behaviour and environmental setting. Barker and mussitate (1964), found that individuals react differently to different types of environment. Analysis of behaviour setting helps social workers to conceptualise the problems of utility users and is considered to be a canonic unit of analysis for the application of the ecological approach to social work practice. The behaviour setting, it must however be clarified, represents more than the traditional concept of behaviour as the reaction to a stimulus and is distinguishd to be a building complex relationship of people, sett ing, time and individual behaviour. A conglomerate of such behaviour settings forms bionomics (Germain Bloom, 1999, p 16-22).Specific individuals function in more than one specific ecology. The ecosystem of individuals consists of the various inter-relationships and the conglomeration of such ecologies (Pardeck, 1988, p 92-100). The ecosystem of a child, for example comprises of the self, the family, the school and the larger alliance (Pardeck, 1988, p 92-100). It is important to understand that the client, in such a concept of ecosystem is an integral component of the ecological system and cannot be juxtaposed with the larger environment (Pardeck, 1988, p 92-100). The ecosystem of an individual consists of four distinct levels, namely the micro-system, the meso-system, the exo-system, and the macro-system. The micro-system represents the speedy environment, viz. the impact of personality characteristics of an individual on other family members (Jones, 2010, p 67). The meso-syste m is more complex and refers to the interactional processes that occur between multiple micro-systems (Jones, 2010, p 67). The exo-system and macro-system likewise refer to more generalised levels and represent more extensive interaction of ecologies (Jones, 2010, p 67).The table utility user in such circumstances becomes the defining and primary member of the eco system that in turn comprises of various overlapping subsistence like the family, the work lieu and the larger community (Pardeck, 1988, p 92-100). The psychosocial development and adjustment of individuals are coverd to be the consequence of transactions between individuals and their environments. The ecological perspective suggests the occurrence of cyclic and bidirectional activities between individuals and their environments (Pardeck, 1988, p 92-100).The environment in the first place affects the development and adjustment of individuals. The behaviours of individuals lead to responses inside the environment and th e altered environment thenceforth exerts a different pressure on the individual (Meinert, et al, 1994, p 26-33). Social workers can view this process as sequential or simultaneous interchangeable influence, for example X affects Y, which again affects X or X and Y come together to form a unity that defines the situation (Meinert, et al, 1994, p 26-33). This concept and these view points are important because they lead to the formulation of new ways for conducting of sound judgment and carrying out of intervention in social work practice (Pardeck, 1988, p 92-100). The adoption of the ecological view point leads to the shifting of focus from individual personality and behavioural characteristics to relationships between individuals, their families, their communities and other ecologies that are included in their eco systems (Pardeck, 1988, p 92-100). Most people do operate in social ecologies that are adaptive or congruent and where people are in harmony with the social norms of th eir environments (Norman, 2000, p 11-17). The requirement for social work intervention comes about when such adaptive fits cease to exist and lead to mal adjustments (Norman, 2000, p 11-17).The ecological perspective differs significantly from traditional social work view points on definition of problems of emolument users (Tew, 2005, p 31-36). Most conventional perspectives concentrate on individuals for definition of problems of service users and perceive such service users to be deviant, behaviourally troubled or emotionally disturbed (Tew, 2005, p 31-36). The ecological approach very importantly does not perceive the symptoms of service users kin terms of individual pathologies but looks at such symptoms to be indicative of malfunctioning eco systems (Tew, 2005, p 31-36). Advocates of the ecological approach are likely to perceive emotional disturbances to be comprehensive problems that are occurring in the constant adaptation that is taking place between organisms and their e nvironments (Wilson, 1999, p 4-11). Mal-adoptions are thus felt to domicile not just in the activity of individuals upon their environments but also of the environments upon individuals (Wilson, 1999, p 4-11). Individual problems and difficulties in social functioning are thus perceived to stem from interactive, dynamic and reciprocal sets of forces that work between individuals and their eco systems (Wilson, 1999, p 4-11).The relationship between problematic social functioning and ecology has been studied in various relationships between (a) social class and hospitalisation for psychiatric causes, (b) probability of specific types of mental ailments and spatial community patterns and (c) suicide rates and social organisation of communities (Peters Marshall, 1996, p 17-32). It is obvious that the adoption of the ecological perspective requires a radical shift of approach by social workers, who must move away from individuals and try to understand a unit that is termed as individu al-in-ecology (Peters Marshall, 1996, p 17-32). Such an approach requires the viewing of individual problems in terms of mal adaptive systems and even differences in labelling of clients, who for example should be termed as disturbing clients rather than emotionally disturbed (Peters Marshall, 1996, p 17-32).Application of Ecological Approach for InterventionThe ecological strategy for intervention obviously calls for an ecological assessment of the problems of service users (Norman, 2000, p 11-17). Such ecological assessment essentially involves two important issues, namely (a) the assignment of reasons for discord in eco systems and sources of strength, which can be apply to enhance the level of fit between service users and important people in the lives, and (b) specification of the services that will be needed to allow service users to progress towards achievement of desired goals (Norman, 2000, p 11-17).Traditional models of social work, it is easy to understand, are far mo re simplistic than the ecological assessment approach (Meinert, et al, 1994, p 26-33). Such methods are narrower and perceive individual service users to be the only focus of the assessment procedure (Meinert, et al, 1994, p 26-33). The intervention model in the ecological approach comprises of specific travel that assist in translation of such assessment into appropriate strategies for intervention (Meinert, et al, 1994, p 26-33).Such an intervention approach consists of septette specific stages and can be applied in a number of practice areas (Nash, et al, 2005, p 32-41). The intervention model in the ecological approach is corresponding to other traditional approaches with regard to gathering of data but deviates significantly in the ways in which social work practitioners conceptualise and organise the processes of assessment and intervention (Nash, et al, 2005, p 32-41). The seven important stages in the intervention process comprise of (a) entering the system, (b) mapping t he ecology, (c) assessing the ecology, (d) creating a vision for change, (e) coordinating and communicating, (f) reassessing and (g) evaluating (Nash, et al, 2005, p 32-41). These steps are significantly different from traditional methods of assessment and intervention and plays far greater responsibilities on the shoulders of social work practitioners (Nash, et al, 2005, p 32-41).The first step of the social work practitioner concerns entering the exo-system of the world of the service user, such a process involves assessment of various relationships in the life of the service user and identification of an entry point into the world of the service user (Kerson, 2002, p 8-14). Assessment of relationships in such circumstances involves tryout of the various sub systems like the immediate family, the workplace and the community that shape the world of the service user (Norman, 2000, p 11-17). The social work practitioner can obtain significant data from examination of such sub syste ms for the formulation of intervention strategies (Norman, 2000, p 11-17). Assessment of various subsystems is thereafter followed by entry into the world of the client (Norman, 2000, p 11-17). This is largely through with(p) through an interview involving the social worker, the service user and people in his or her immediate family (Kerson, 2002, p 8-14). The social worker, after entering the world of the service user commences ecological mapping (Kerson, 2002, p 8-14). Such mapping involves analysis of various sub systems and identification of people and events that are relevant to the challenges confronting the service user (Pardeck, 1988, p 92-100). Such mapping involves interaction with representatives of different sub systems like spouse, parents or immediate friends and leads to obtaining of very important information (Pardeck, 1988, p 92-100).The mapping of ecology is followed by interpretation and assessment. Social workers, at this stage of the process search for importan t problems and sources of strength in the eco system of service users (Meinert, et al, 1994, p 26-33). The description of relationships and pass themes in the lives of service users forms an important aspect of this stage and helps in identifying problems as well as sources of strength that can help the service users in achieving a better fit with the environment (Meinert, et al, 1994, p 26-33). Assessment of ecology is followed by locating the areas that require to be altered to enhance the social functioning of service users (Meinert, et al, 1994, p 26-33). Social workers whilst focusing on the required change need to consider the service users total eco system and use all available strengths in the ecology (Meinert, et al, 1994, p 26-33). Practitioners should be open to different change possibilities and implement proposed plans of action after obtaining the agreement of service users (Meinert, et al, 1994, p 26-33).Social workers must blow over and coordinate with people in th e eco system during much of the intervention process (Pardeck, 1988, p 92-100). A significant part of the change process lies in the work force of important people in the eco systems of service users and practitioners need to offer support and facilitate change efforts through home visits and telephone calls (Pardeck, 1988, p 92-100). Reassessment and paygrade also form important components of the ecological intervention process (Pardeck, 1988, p 92-100). Social workers should be open on remapping the ecology and working through concomitant stages if the intervention efforts do not appear to be achieving their stated objectives (Pardeck, 1988, p 92-100). The final stage of intervention that is the comprehensive evaluation of the process concerns the gathering of information through informal meetings and the use of structure questionnaires (Pardeck, 1988, p 92-100). The evaluation process is important for practitioners because it enables them to enhance the quality of their ecolog ical approach based treatment procedure (Pardeck, 1988, p 92-100).Advantages and Disadvantages of the Ecological ApproachIt is important to understand that ecological perspectives help social workers significantly in understanding human problems to essentially be outcomes of continuous transactions of different types between environments and people (Ginsburg, 1990, p 12-21). The conceptualising of human problems in this way helps social workers in understanding that discord between people and their environment can lead specifically to adverse physical, emotional and social effects upon people (Ginsburg, 1990, p 12-21). Such a focus is also a unifying feature of social work practice. The adoption of this approach helps social workers in taking away their focus from individuals as deviants with emotional and mental difficulties and helps in placing them entirely as individuals who have mal-adaption with their environments (Henderson, 1994, p 38-45). The investigation and assessment process under this approach also allows social workers to interact with various people who are important to the service user and build an intervention plan that involves not just the social worker and the service user but also other people who are close to the service user, understand his or her problems and are able to help the service user in achieving the desired objectives (Henderson, 1994, p 38-45).Whilst the ecological approach helps social workers significantly in conceptualising the essential concerns of social work practice, the approach continues to have some inherent difficulties and problems (Pardeck, 1988, p 92-100). It does not for example provide clearly laid down sets of procedures and processes for assessment and intervention, as well as strategies and reasoning for their use (Pardeck, 1988, p 92-100). Social workers thus use the approach for understanding the basic relationships between service users and their environments but have to thereafter devise and formulat e their own assessment and intervention procedures (Pardeck, 1988, p 92-100). It has also disturbingly been found that when social workers intervene in the eco systems of service users by opening up communication channels with other people in the eco system, such interventions often do not have clarity in terms of outcomes and can lead to negative consequences (Pardeck, 1988, p 92-100). Critics of the ecological approach also argue that its application leads practitioners to perceive problems with such broad perspectives that practitioners attempt to plan so comprehensively that actual effectiveness of practice gets jeopardised (Henderson, 1994, p 38-45). Whilst such disadvantages and criticisms do have merit and must be considered by workers who opt to use the ecological approach, its adoption and application does enable social workers to obtain much larger perspectives and greater and more dynamic understanding of individuals and their social, cultural and physical environments (H enderson, 1994, p 38-45). The adoption of such perspectives results in avoidance of blaming of victims and in location of assessment and intervention of the issue in the ecosystem of service users (Henderson, 1994, p 38-45).ReferencesBarker, R., 1968, Ecological Psychology Concepts and Methods for Studying the Environment of Human Behaviour, Stanford, California Stanford University.Barker, R., Gump, P., 1964, Big School, Small School, Stanford, California Stanford University Press.Germain, C., 1973, An Ecological Perspective in Casework, Social Casework, 54, 323-330.Germain, C. B., Bloom, M., 1999, Human way in the Social Environment An Ecological View (2nd ed.), New York Columbia University Press.Ginsburg, E. H., 1990, Effective Interventions Applying Learning Theory to School Social Work, New York Greenwood Press.Henderson, G., 1994, Social Work Interventions Helping People of Color, Westport, CT Bergin Garvey.Jones, P., 2010, Responding to the Ecological Crisis Transformative Pathways for Social Work Education, Journal of Social Work Education, 46(1), 67.Kerson, T. S., 2002, Boundary Spanning An Ecological Reinterpretation of Social Work Practice in Health and Mental Health Systems, New York Columbia University Press.Meinert, R. G., Pardeck, J. T., Sullivan, W. P. (Eds.), 1994, Issues in Social Work A Critical Analysis, Westport, CT Auburn House.Nash, M., Munford, R., ODonoghue, K. (Eds.), 2005, Social Work Theories in Action, London Jessica Kingsley.Norman, E. (Ed.), 2000, Resiliency Enhancement Putting the Strengths Perspective into Social Work Practice, New York Columbia University Press.Pardeck, T. J., 1988, Social Treatment through an Ecological Approach, Clinical Social Work Journal, Vol 16, No 1.Peters, M., Marshall, J., 1996, Individualism and Community Education and Social Policy in the Postmodern Condition, London Falmer Press.Plas, J., 1981, The Psychologist in the School Community A interest Role, School Psychology Review, 10, 72-81.Tew, J. (Ed.)., 2005, Social Perspectives in Mental Health Developing Social Models to Understand and Work with Mental Distress, London Jessica Kingsley.Wilson, D. J., 1999, Indigenous South Americans of the agone and Present An Ecological Perspective, Boulder, CO Westview Press.

Nescafes Global Strategy

Nescafes Global StrategyAbout NescafeNestle, the largest confectionary, nutrition and Food Company in the realness. Nescafe is one of its renowned sends in the business of traditional fiery and cold energizing solubles like coffee and is available almost in every part of the world in different forms and variants. It was named as one of the f in all 100 brands of the world by Bloomberg business week (Top 100 Brands of 2008, 2008). Today, its offerings are available in 32 countries including France, China, Canada, Pakistan, India, UK, USA and others(Nescaf, 2010). Nescafes Global StrategyNescafe has build a strong brand equity through the use of aggressive tradeing strategies globosely. Each country/regions Nescafe forms its own system to effectually rank its audience and pay back sales accordingly for the profitability and growth of the company. It is for this reason that some variants are designed and marketed to cater to the needs of that particular segment of the market.I t has been noted that Nescafe as a brand is in a intermediary phase from being an exclusive utilitarian comsuption product when it used to be retributive an instant coffee to fair more of a product with hedonic consumption when it started to develop and sell different blends in different markets. Each variant has its own specific gasconade and personality to add value to the brand under the same name.The company aims at providing products to consumers wherever, whenever and however is required. Nescafe focuses on the coffee tradition and its historical value. Nescafes orbiculate brand personality can be sincere, down-to-earth, warm and honest and excitement related to friendly, youth and energy however it can be just one of the two mentioned above or a mix of both depending upon the target market and the variation. Target grocery, Promotion Strategies and MediaNescafe has different target market for its different variants. In the UK, the target market is young adult consumers aged surrounded by 20-35 of middle and upper class who have lived with consumption soft crisps and energy drinks like redbull. To bewilder that market, Nescafe on with its advertising agency decided on building consumer trust and develop work showing lenghts that Nescafe users will go to stay away from other backup goods. A 360 degree campaign was designed which was launched with a TVC, billboards, radio ads, posters, magazines, news paper and many other medias.In India, with its different variants, is leveraging to vast consumer brutish and cateting to all segments of the market. The market has been divided on the basis of geographic regions like North, South, East and West, psychographics and demographics. The strategy however has been to focus on values and low-key market penetration using 360 degree promotion campaign.The Greek market was consuming the traditional Greek chocolate which was served in a tiny cup and with a glass of cold water intended to be drunk first. Ne scafe captured this opportunity to grab the market share by introducing its Nescafe Frappe in the Greek Market that change habit of the Greek coffee drinkers. It has been heavily marketed to the target audience aged between 17-30 using clever visuals to show a trendy world of partying and dancing including a stylish living for the younger generation. (Butler, 1988)With a deal with MTV to launch a style campaign for the new generation of consumers aged between 16-24 years old, Nescafe has decided to relaunch the brand with a $30 Million global campaign. Nescafe has been working on targeting its market through the use of interactive youth lie websites Nescafe Live where consumer will exchange ideas and information regarding images and videos aimed at 16-24 years old consumers of the global market. In Australia, the marketing mix is aimed at targeting diverse market segments of all age groups. For the young adult caf culture segment, they offer their range of latte with a sponsoring c ampaigns like Nescafe Short Film Awards Win the Nescafe Latte Lounge of which mystifier and TVCs were created. Also, a website was created for information regarding products, competitions and events. Marketing Communication AgenciesNescafes lead global agencies are McCann Erickson Publicis Mojo while also have MindShare as their global media creative Agency (Jain, 2007). These global agencies have either affliations with local agencies in different countries or have their own subsidaries. Thus, the affliated agencies or the subsidaries become the local agencies of their clients and work with their global partner to create a universal image, perception and equity of the brand. Like the local agency in Sweden for Nescafe is Storakers McCann which is affliated with McCann Erikson while in Pakistan its Orient McErikson. In France, it is Publicis Conseil which has affliation with Publicis Mojo. Importance of advertize for NescafeAdvertising for Nescafe is important to create positive feeling and attitude of consumers towards the brand which will eventually lead to purchase. Advertising plays a vital part in communication a competitive advan chasee and to make consumers feel that the product suits their requirements and has the same personality as theirs. Due to factors like culture and differences in attitudes and behaviors in all(prenominal) country/region that has its own beverage used as stimulant or energizers. Like in some regions its tree and in others its green tea or coffee. Thus, to capture the non-coffee drinking markets, it is essential to aggresively advertise the energizing and stimulating effects of coffee. The red color of the mug is used to emphasize the energy of the drink while red suits to project that state of mind. Nescafe has a very diversified base of consumers belonging to different personalities which have different cultures and tradition and coffee just might not be a part of any of it. It is through advertising that they can creat e value for customers. For the same reason, Nescafe with the help of local agencies creates offerings base on consumers attitudes, personalities, and behavior and the culture and tradition of that country/region while keeping a broader global brand image, conviction and positioning. If Nescafe just had a global agency responsible for creating and designing products and brands and market them to the global market at large, it would fail to effectively communicate with the customers or to create a competitive advantage in the markets due to the diversified consumer base as needs, attitudes, culture, behaviours and many other factors of consumers choice and preference differ from region to region and coutnry to country. Thus, a balance has to be maintained between the local market perspective and the global outlook as well for the success of the brand and company(Amanda, n.d.). RecommendationTo be able to capture and grab the market share of different markets, Nescafe should be associ ated with the current agencies in order to create offerings using both global and local perspective. However, their promotional strategy should not completely be diverted towards the coffee drinkers of future and should carry out activities for the adults and old-age consumers as well. The use of 360 degree marketing campaigns is a very effective way of reaching out to the target consumers which should be carried on further.ReferenceAmanda, (n.d.) The Marketing Mix How two companies use it to target the Australian Instant Coffee Market, Retrieved on May 19, 2010, from Monash University http//www.monash.edu.au/lls/llonline/writing/business-economics/marketing/3.2.2.xmlButler, R. (1988). How Nescafe frappe swept the Greek market. Tea Coffee trade Journal .Jain, A. (2007). Nescafe V/S Bru Markeketing . India www.slideshare.net.Nescafe Tags(10),Retrieved May 19, 2010, from Popsop.com http//popsop.com/tag/nescafeNescaf. (2010).Coffee People, Retrieved on May 19, 2010 from www.nescafe.co m, NescafeCamera CafChina (2010).Retrieved May 19, 2010, from Media Asia.com http//www.media.asia/newsarticle/2010_01/NescafeCamera-CafeChina/38482?src=mostpopNestle India Limited. (2003). Retrieved May 19, 2010, from India Brand Equity Foundation http//www.ibef.org/download/Nestle.pdfOReilly, D. (2001), Nescafes new campaign is secure of beans, Retrieved on May 19, 2010, from The Post.IE http//archives.tcm.ie/businesspost/2001/09/09/story958990928.aspSaunderson, L, (2001), Nescafe Interactive Beans, Retrieved on May 19, 2010, from Boards http//www.boardsmag.com/articles/magazine/20010801/nescafe.htmlTop 100 Brands of 2008. (2008). Retrieved May 19, 2010, from Bloomberg Business Week http//images.businessweek.com/ss/08/09/0918_best_brands/29.htm

Autarky and Economics Questions and Answers

Autarky and Economics Questions and AnswersQuestion 1(a). Write down the problem of an cistron that maximizes ex-ante utility in autarky. uprise the conditions that characterise the allocation in autarky. Explain how the allocation changes with .Autarky is a situation where no trading takes place between agents. Each agent inevitably to ply for his own needs in an autarky, ie he independently chooses the amount of I that he wants to invest in the long run technology. The free of liquidity insurance arises here.Every agent wants to maximise his ex-ante utility just the problem is that at time t=0 he does not recognise about his type whether he wants to consume early at t=1 or late at t=2 issueing in irregular information. Hence, in that respect is a risk that more than is optimal may be invested.The conditions that characterise the allocation in autarky atomic number 18 bounded by the coynesss of C1 and C2. If agent decides to consume early, he ordain get savings (1-I) a nd liquidated investing (I).C1 = 1 I + I = 1 I (1-)If agent decides to consume late, he entrust obtain savings (1-I) and returns from investment (RI).C2 = 1 I + RI = 1 + I(R-1)Agent impart choose his consumer profile (C1, C2) that ordain maximise his ex-ante utility U base on the above constraints.However, the allocation is not efficient in autarky as shown in the next part of the question.Max U(C1,C2) = u(C1) + u(C2) = 1 I + I+ 1 I + RI= 2+ I + RI We set up the lagrangian method to explain the allocation changes in where the constraint in the be scummy equation is the upper limit utility.L = u(C1) + (1-)u(C2) + 2+ I + RI = + I = 0 = (1- ) + RI = 0 = 2+ I + RI = 0Complementary Slackness Condition *2+ I + RI = 0If entertains were given for the vari suitables, we could even have solved and get the value of . If a value close to zero is obtained for , it means agent is impatient anda value close to one indicates that agent is patient.This argument is nurture supported by the marginal rate of substitution concept where = R. If =0, no returns obtained as the agent wants to consume immediately. If =1, returns will result for the patient agent. Hence, it shows that the discount doer will not change the elemental results of the model.(b) Write down the conditions that characterise the Pareto-optimal allocation. Show that autarky is not efficient. Explain how the allocation changes with .The conditions that characterise the allocation in autarky are bounded by the constraints of C1 and C2.1C1 = 1 I = C1 = (1-)C2= RI = C2 = The constraints can be combined in a single one.1C1 + (1-)= 1The key result is that allocation is inefficient in autarky as shown belowRecall in autarky C1 = 1 I + I = 1 I (1-) C2 = 1 I + RI = 1 + I(R-1)If C1 1 (unless I = 0) and C2 R (unless I = 1), then combining these two facts we obtain1C1 + 2 1 which commonwealths that efficiency is not reached. It is trustworthy as less funds and fewer resources exist in an autarky than in Pareto optimal allocation as no trade occurs. Therefore, consumption train is lower in autarky.Max U(C1,C2) = u(C1) + u(C2) = + We set up the lagrangian method to explain the allocation changes in where the constraint in the below equation is the maximum utility.L = u(C1) + (1-)u(C2) + + = + = 0 = (1- ) + = 0 = + = 0Complementary Slackness Condition * + = 0If values were given for the variables, we could even have solved and get the value of . If a value close to zero is obtained for , it means agent is impatient anda value close to one indicates that agent is patient.The argument of marginal rate of substitution is similarly applicable here where = R. If =0, no returns obtained as the agent wants to consume immediately. If =1, returns will result for the patient agent. Hence, it shows that the discount factor will not change the basic results of the model.(c) Assume the agents are now infinitely risk-averse. That is U(c1,c2) = minc1,c2. What is the Pareto -optimal allocation?Pareto optimal is an allocation of resources where it is impossible to distribute resources without making at least one consumer polish off off. Pareto optimal is the best outcome that could result in an economy with trade taking place and thus there is senior high schooler consumption level. It is like a desired state where assets are increased for patient people and consumption is increased for impatient people.The Pareto optimal allocation for risk neutral agents satisfies the following original order conditionU(C1) / U(C2) = Rwhich means that agents would like to equate the marginal rate of substitution between consumption levels at t=1 and t=2 with the returns on the long run technology.When U(c1,c2) = minc1,c2, it shows agents attitude to risk aversion.The pareto optimal allocation for the risk averse agent is u(C1) + u(C2G) + (1-)u(C2B) where the superscripts G and B denote good and bad state respectively.L = u(C1) + u(C2G) + (1-)u(C2B) + u(C1)The concav ed utility function states that agents prefer to consume more to less and shows how consumption is smoothed out everyplace time and across states in the future. The agent is risk averse in the sense that he does not want consumption in the bad state at t=2 to be too much different from consumption at t=1.Question 2(a) Write down the incentive constraint of the vernacular. How does confirming aect the repayment R the edge can promise? Banks, regarded as information sharing coalitions, can easily outperform the problem of asymmetric information of investors. It is assumed that confides will use the signaling tool to invest in high calibre get words which will benefit the investors. Banks are expected to behave in such a way that will maximise investors interest.The firm chooses the good project ifpH(y-Ru-Rm) pL(y-Ru-Rm) + b = Ru + Rm y- The rim must(prenominal) also be encouraged to monitor the projectpHRm C pLRm = Rm The bank will borrow only least possible amount from banks as bank finance is more expensive than direct finance.Im = Im () = where denotes expected rate of return.The bank will collect get the remaining finance Iu = from uninformed investors. Hence, the banks incentive constraint binds.Using the incentive constraints we have Ru y- which states Iu y indicating that the project will only be financed ifA + Iu + Im 1 = A (,r) 1 Im() y Other constraints would include a lack of monitor from the bank giving rise to the prospect of non- observe pL and the inability to dispose the collateral, ie if the collateral appreciates, the bank will not be able to sell it until loan to investors has been repaid.The collateral, usually in the form of assets, plays the role of a guarantee that banks give to investors as a security in case of bankruptcy of the project. Collateral is also seen as an alternative to monitoring as it saves efforts and reduces the risk of the bank. (0,1) can be interpreted as if K is close to one, bank will be able to refund the money to investors whereas if K is close to zero, bank will be unable to repay back the loan.A better collateral make ups better chance of getting money back as the bank will prefer to behave or else it will lose the collateral.If the project is favored with expected probability p, the bank will gain returns X which will be used to refund the loan to investors and claim back the collateral. The higher the returns from the project, the bank will be able to distribute partly between the investors and keep partly as its own profits.In case of failure of the project, the bank will obtain zero returns and is then unable to repay R to the investors. The latter will seize the collateral and will liquidate it to gain maximum money from it as refund of their investment in the unsuccessful project.(b) Suppose investors have all the bargaining power. Write down their objective, find the optimal contract and their rest profits. If investors have all the bargaining power, they will be able to influence the project financing process significantly and dictate their terms. The objective of investors is to obtain maximum returns X from the project. They will want to have full details about the project to ensure that the bank is choosing a high case project () or else than making an adverse selection. Investors delegate the monitoring of the project to the bank as the latter has comparative advantage in monitoring activities hence monitoring be will be reduced. Investors will use monitoring and auditing as tools to be free from asymmetric information and to improve efficiency. They will expect close monitoring and continuous feedback on the project from the bank.The optimal contract for investors will be where lending will be most profitable and the below equation is interpreted from the Diamond Model (1984)Ey 1 + r + C = Ey 1 + 1 + C = Ey 2+ Cwhere Ey = Returns from investmentr = risk free rate, equal to 1 in the questionC = monitoring costs The optimal contract is bounded by the break-even constraint of uninformed investors implying an upper bound on IupHRu (1 + r) = Iu y Equilibrium profits of the investors will be at a feasible break-even point, usually where demand equals to supplyA + Iu + Im 1 = A (,r) 1 Im() y (c) For which value of K can the bank borrow and invest?The value of the collateral must be either equal or slightly higher than the investment in project (I) and monitoring costs (C) to encourage investors to finance the project as a lower value of the collateral will not entice them.K = I + C or K I + CIdeally if K I + C, this will attract more investors to finance the project and in turn banks will be able to borrow from them and invest in the project.Question 3(a) If A A3, the firm issues high-quality public debt (public debt that has a high probability of being re-paid) We will discuss hatful when the entrepreneur can issue high quality public debtWell-capitalised firms A can issue direct debt as they possess high capital.Low credit risk High quality public debt refers that the entrepreneur is likely to meet payment obligations. This type of public debt is an good-natured investment vehicle as it has a low risk of default.High dilution costsGood reputed firms can issue direct debt only if s where s is the probability of repayment at t=2, conditionally on success at t=0 and given all firms are monitored at t=0.It is assumed that monitoring cost c is small such that in the credit market at equilibrium. The entrepreneur has incentive to issue high quality public debt at a rate of when as the latter equation means high probability of success. The economic interpretation is when project is successful, returns (R) are obtained. The entrepreneur cannot ask for more than R as the firm will also keep some profits for itself. Every party in the transaction is capable and is in equilibrium when a good project is undertaken.(b) If A3 A A2, the firm borrows from a monitor (and from uninformed investors) We will analyse circumstances when the firm borrows from a monitor and uninformed investorsFirms with medium capital (,r) A borrow from banks.Firms borrow from banks when they suffer from high credit risk and high dilution costs because banks can provide efficient renegotiation in case of default and can limit dilution costs though there will be an intermediation cost involved.Uninformed investors are ready to invest Iu in exchange of return Ru upon successful project. Firms must be encouraged to choose good project pH(y Ru) pL (y- Ru) + B Ru y When the firm falls short of capital to issue a direct debt, it can borrow Im from banks (with return Rm if project succeeds) and Iu from uninformed investors (with return Ru if project succeeds).The firm chooses the good project ifpH(y-Ru-Rm) pL(y-Ru-Rm) + b = Ru + Rm y- The bank must also be encouraged to monitor the projectpHRm C pLRm = Rm The bank will borrow only least possible amoun t from banks as bank finance is more expensive than direct finance.Im = Im () = where denotes expected rate of return.The bank will collect get the remaining finance Iu = from uninformed investorsHence, the banks incentive constraint binds.Two conditions are necessary for bank lending to be in equilibrium in credit market(i) Monitoring cost must be less than the returns of the good projectpH G 1 c(ii) Direct lending which is cheaper must be impossible.pHRc 1Firm should borrow from a monitor (for example a bank) and from uninformed investors at intermediate probability of success when pH at a rate of R = .(c) If A2 A A1, the firm issues junk bonds (public debt that has a low probability of success) We will discuss circumstances when the firm issues junk bondsIt is possible that firms with medium capital (,r) A issue junk bonds.High credit risk- Junk bonds refer to bonds with low credit quality and high default risk. They are attractive to risk seeker investors due to th eir high yielding returns.Low dilution costs as it limits exposure to bad firms but involves inefficient bankruptcy costs for good firms.The zero profit condition for investors is1 = pR + (1- p) AThis nominal return R is feasible (R y) if py + (1- p) A 1 and the expected profit of good firms is thenB = p (y- R)+ pyBy substituting R, we will obtain B = 2py 1 + (1- p) AWhen the monitoring element c is added, the monitor can reduce the entrepreneurs private benefit of misbehaving from B to b.pH c (pH pL) RpH If R Rc, the firm will issue junk bonds with low probability of success. This states that the firm is indebted and have too much risk associated with it. The economic interpretation out of it is that the entrepreneur will ask for higher returns but the firm will not afford to provide it. This will lead the entrepreneur to choose the bad project and disequilibrium occurs. Hence, such a combination is not feasible because the maximum repayment is K.(d) If A1 A, the firm does n ot investWe will analyse circumstances when the firm cannot investFirms with low capital A (,r) can neither invest nor borrow. Venture capitalists are the only solution for such firms.When monitoring costs are added, if pH it means there is a small probability of success. The equilibrium consists of no trade taking place and the credit market collapses because good projects cannot be funded and bad projects have a negative net present value. Hence, the firm should not invest as there is no trade equilibrium.ReferencesFrexias X. and Rochet J-C., (2006) Microeconomics of Banking, 2nd Edition

Grammer :: essays papers

GrammerADVERBS & HELPER VERBSthe purpose is to show where, when, how, or to what degreeadverbs are words ending in ly Adverbs not ending in lyall, almost, also, always, away, ever, forward, later, maybe, most, never, nevertheless, now, not, often, only, onward, perhaps, sometime(s), soon, then, too, very, up champion verbsbe, am, is, are, was, were, have, has, had, have been, has been, had been, shall, will, do, did, may, can, must, might, could, would, should PREPOSITIONAL PHRASESsome of the most common prepositions about, above, according to, across, after, against, along, among, as, at, because of, before, behind, below, beneath, beside, between, beyond, but, by, down, during, except, for, from, in, into, like, near, of, off, on, on account of, outside, outside of, over, past, since, through, to, toward, under, until, up, upon, with, within, without,Examples1. (For many years) the lighthouse has been the most famous landmark (along the coast.)2. It has warned (ships at sea)(of the countless dangers)( from the fog storm.)PRONOUNSsubject ObjectI mehe him

Black Boy :: essays research papers

In Richard Wrights non-fiction novel B deficiency Boy the main character, Richard, faces many problems that he must get it on with. In this book the author writes about his life and hardships. The book starts off with Richard at the young age of four. Black Boy represents the deprivation Wright faces growing up. It shows poverty, hunger, lack of emotional support, miserable living conditions and Richards response to these difficulties.Education and acquiring knowledge was a problem that Richard faced in the course of his life and which he emphasized heavily in this book. He was a very curios boy that wanted to learn. He would look at the books of the kids in the neighborhood and ask them what the dusky print was. He would also askion his mother until finally she sat down with him and they read together and he would ask about words. He was enrolled into give lessons but since they were constantly moving he never went one year without his schooling have been broken. At one point h is teacher read to him from her novels and his nanna scorned her and said that was the devils work. This didnt stop him. He would read novels and not even know enough words for what he was reading to make sense. His quest for literacy was one that he had to deal with alone. He didnt have much support from his family but he would not give up on furthering his education.The erosive white issue didnt affect Richard until later in his life when he started to acknowledge there was such an issue. He wanted to be accredited into society and wanted to change the ways people treated the blacks of the south. He wanted to be equal with the whites and felt that knowledge would bring him closer to them and pull in them and how they think.Richards hatred towards his father posed a problem in his earlier life. He felt that his father was a stranger to him since he worked at night and slept during the daytime. He noticed his fathers personality when they were living in a two-room apartment. Ric hard and his brother had to remain quiet while his father was sleeping. Richard had a tendency to rebel against parental authority. One day him and his brother were playing with a kitten that lingered around the house and their father woke up and told them to either fling off the cat or make it leave from the area.

Exploring Girls Participation in Violence Essay -- Exploratory Resear

Exploring Girls Participation in ViolenceIntroductionY let onh violence, and particularly violence carried out by girls, has been the subject of intense media attention recently, with an ever-increasing number of girls portrayed as carrying guns in their mouths and participating in violent crime. Although the percentage of girls involvement in criminality and crime has increased in the last two decades, it is still far below the level of boys involvement, and it differs quite signifi sesstly. There is a paucity of literature on girls violence, as most research on youth violence does not distinguish between girls and boys. The most comprehensive and extensive literature reviews on issue womens crime and iniquity have been conducted by Meda Chesney-Lind and her associates. While not focusing exclusively on violent girls, their work on girls in trouble with the legality provides much insight into the complex issue of girls aggression and violence. The summary of research in this bri ef is, for the most part, guided by their work. Overall, the brief reviews the extent of girls delinquency and violence, the ways they differ from boys, the contributing factors, and effective program strategies to prevent female delinquency. The Scope of Girls Delinquency, Crime, and Violence The Extent of Girls Involvement An understanding of the extent of girls delinquency can be gleaned from statistics, as compiled by the Federal Bureau of Investigation (FBI) and other official agencies, and from self-report surveys conducted with young people. These data demonstrate that girls are far less probable than boys to be arrested in 1994, for example, girls accounted for one-fourth of youthful arrests (Chesney-Lind & Brown... ...s in the Maryland juvenile justice system. Findings of the Female Population Taskforce. Presentation to the Gender Specific Services Training, Minneapolis, MN. Moore, J.W., & Hagedorn, J.M. (1996). What happens to girls in the gang? In C.R. Huff (Ed.), Gangs in America (pp. 205-20). Thousand Oaks, CA Sage. Rankin, J.H. (1980). School factors and delinquency Interaction by age and sex. Sociology and Social Research, 64(3), 420-434. Tolan, P., & Guerra, N. (1994). What works in reducing adolescent violence An empirical review of the field. Boulder University of Colorado, Center for the Study and Prevention of Violence. Webster, D.W., Gainer, P.S., & Champion, H.R. (1993). Weapon carrying among inner-city junior high school students Defensive fashion versus aggressive delinquency. American Journal of Public Health, 83, 1604-1608.

The Effects Of Video Game Violence On Human Aggression Essay -- Violen

Throughout a number of recent studies, participants playing violent telly games have consistently shown increases in their in-your-face behavior, both during and after(prenominal) the gameplay. A study that linked violent video games to child aggression ground that in every group they tested, Children who were exposed to to a greater extent video game violence did become more aggressive over time than their peers who had less exposure (Harding 1). An increase in aggressive behavior after playing violent video games is quite common in most cases, although many gamers would argue that other factors, such as peoples emotions, reasonableness this negative change in behavior. This reveals numerous questions surrounding the effects that video game violence might have on a person. Will a high degree of violent content in a video game mean that the frequent user will exhibit a greater degree of aggression and violent towards others in their daily lives? (Janushewski & Truong 1). Playing violent video games not only causes an increase in antisocial behavior entirely also leads to a decrease in prosocial behavior (Greitemeyer, Osswald 212).Aggressive behavior is defined as intentional behavior produced to cause physical harm or humiliation to another person who wishes to avoid the harm (Baron & Richardson, 1994). Social science has come to understand aggression as mainly socially learned (Bandura, 1965 Bandura Ross, & Ross, 1961) (Ferguson 70). Anderson et al. (2010) found that video game violence can cause a significant increase in aggressive behavior in the short run, after playing a game once, and in the long run, after consistently playing (Rowell 180). Increased behavioral aggression in the short run due to video game violence appears to be inevitable, ... ... 6, 2011, from http//articles.cnn.com/2008-11-03/health/healthmag.violent.video.kids_1_violent-video-video-games-game-genres/2?_s=PMHEALTHJanushewski, D, Truong, M. (1999). Video games and vi olence. Socserv.mcmaster.ca. Retrieved April 6, 2011, from .Jeroen, L, M.Sc., J., Bushman, &, A. Konijn. (2006). Rapid communication The appeal of violent video games to lower meliorate aggressive adolescent boys from two countries. CyberPsychology & Behavior, 9(5), 638-641.Rowell, H. (2010). Nailing the coffin shut on doubts that violent video games stimulate aggression Comments on Anderson et al. Psychological Bulletin, 136(2), 179-181.Williams, K. (2005). The effects of frustration, violence, and trait antipathy after playing a video game. Mass Communication and Society, 12, 291-310.