The cruise tourism

The cruise tourism INTRODUCTION Although cruise tourism started in the early 1920s, it became more popular in the last half of the 20th century especially for the middle-aged, affluent demographic mainly in North America. It was a way for them to revel in the sun during winter months while avoiding the crowded tourist spots. The industry has since seen tremendous change in fortunes and is now actually the fastest growing sector within the tourism industry with an annual growth rate averaging 8% since 1980 (Robertsen, 2010). The most popular destinations are as follows with the Caribbean taking the lions share at 50%, the Mediterranean 15%, Alaska 8%, the trans-Panama Canal has 6% of the traffic while west Mexico and northern Europe account for 5% and 4%. The South Pacific sees around 2% of the total cruise tourists. Around 80% of all cruise tourists come from North America although that figure is expected to decline as other markets catch up in the coming years. With estimated global revenue of 27 billion US dollar s and carrying approximately 18 million passengers around the globe, the cruise tourism industry is a major income earner for any economy. CRUISE TOURISM IN CHINA Although China currently sees around 10,000 cruise tourists in its ports in a year, the Chinese government is trying to institute measures to see this number go up to 600,000 passengers by the end of 2010 (Zhao, 2010). Some of the major hurdles that are seen as hampering the Chinese market include strenuous customs procedures, cabotage restrictions (a foreign flag ship is not allowed to call on more than a single Chinese port on one itinerary) and restrictions on Chinese cruise companies (Chinese companies cannot currently curry out cruise operations). Several events have helped to market China in the globe as well as increase the tourist numbers. One of them is the 2008 Beijing Olympics. The world financial crisis has also turned the worlds attention to China due to its improved infrastructure. This has benefited both outbound and inbound business numbers. Chinas growing economy and large middle class population is also seen as a target for large cruise ship companies and many of th em are already beginning to make China a key destination. In 2009 the Costa and Royal Caribbean International Cruises made bold moves by making Shanghai their home ports, increasing the travel options for Chinese cruise tourists. In fact the Cruise Industry News online magazine reports that Hong Kong, Macao and Taiwan all reported double digit growth in the first months of 2010. CRUISE TOURISM IN EUROPE Cruise tourism in Europe in more developed than it is in China mainly because of its established ports and the distribution of income in European economies. G.P Wild report that about 2.5 million European nationals embarked on cruises from European ports (from a total of 2.8 million passengers) in 2005 while 13.1 million passengers visited European ports. They generated about 8.3 billion Euros in revenue, not counting the tremendous effect that the cruise industry has on other industries like ship building, restaurants, hotels and catering, sales and marketing, among others (2007). The cruising industry in Europe has been growing steadily over the years preceding the financial crisis leading to the dropping global share of the cruising traffic held by North America. This is because of the huge potential for cruise tourism in Europe. 3% of the North American population is cruising while it is 1% in Europe. This means that Europe has a greater potential for growth. Also, the new EU cit izens from Eastern Europe are pushing up the demand as their lifestyles continue to change with their changing economic conditions. While cruising was formally the preserve of the middle aged, new products have been introduced that attract children, young adults and even the elderly (Cartwright Baird, 1999). Ultimately, Europe offers the greatest growth potential in the cruise tourism industry. It offers the unique advantage that a large chunk of its population lives relatively near to the sea and so cruise liners see Europe as offering the biggest potential for growth. PERCEPTIONS OF EUROPEAN PASSENGERS In as much as there are many motives for taking a cruise, many traditional European passengers take cruises for reasons that can be summarized as the uniqueness of cruises. The perception of a cruise is that it gives them the opportunity to sample various locations in just one trip. Additionally, there is the common perception that one gets pampered on a cruise, treatment that they would not get anywhere else. Since the vast majority of Europeans have never taken a cruise, it is seen as something new and exciting. There are other opinions on cruising like; one can easily make friends on a cruise, one can shop for a variety of items, it is an opportunity to learn and it is the in thing in tourism right now (Mancini, 2004). Although the opinion of cruise tourism among Europeans is good, there is a problem with its uptake because of some perceptions. Some people view cruising as an activity for the rich. The growth of the industry in China has also been influenced by Chinese consumer behavior. Mr. Qian Yongchan, chairman of China Communications and Transportation Association, summarized the behavior of the Chinese like this: the young and middle aged seek a higher quality of living while large corporations will choose cruise tourism as a means of encouraging their employees or to develop relationships with their clients (2009). The rest of the Chinese population, it seems, is disinterested in this form of tourism. PERCEPTIONS AND BEHAVIOR OF CHINESE TOURISTS CONSUMER PERSEPTIONS Chinas sustained per capita GDP growth which now stands at 3,268 USD has led to the growth of an economically strong, young, middle class who want to enjoy luxury and opulence. Activities that were previously viewed as European are now being demanded. This has seen the growth of the many enterprises including tourism and cruise tourism in particular. Yongchan reports that the number of Chinese cruise tourists reached 93,000 in 2007 (2009). This goes to show that the perception of the Chinese tourist towards cruise tourism is changing. VALUES The modern Chinese tourist has begun to value diversity in their tourist products. Chinese tourists have ventured out of the traditional markets in Taiwan, Europe and North America to go into Africa, the Mediterranean and the Atlantic. Cruise tours offer a good opportunity for them to do so. MOTIVATION The serge in Chinese tourist numbers is being motivated by the new found wealth of the common Chinese people, the growth of the middle class and the opening up of the Chinese market and economy. The Chinese governments increased economic and social obligations in the world are also propelling the Chinese to tour more of the globe. CULTURE EFFECTS The world tourism industry has become more acceptable to the Chinese culture. They now offer products that are not seen as excessive according to Chinese culture. Chinese ingenuity is also having a significant effect on the industry. COMPARISON OF CHINESE AND EUROPEAN CONSUMER BEHAVIOR The modern Chinese tourist does not differ much from the European tourist. Information technology makes certain that both consumers have access to the same information. Popular culture propagated by the media also means that the demands, like and dislikes of both sets of consumers is similar. Nevertheless, the Chinese tourist differs from the European in their experience. Europeans have been at this game for a long time while the market in China is just being opened up. Their expectations also differ in the sense that the Chinese tourist is more conservative than their European counterparts. For example, while casinos may be a big attraction to a European tourist, it may not pull in the crowds in China. POTENTIAL CHINESE MARKET FOR CRUISING The per capita GDP of the main Chinese coastal cities have grown to levels the same as those of medium developed economies. These will provide a strong foundation for passenger liner tourism in the future for Chinas outbound cruise tourism. Its strong economic performance will be another asset (Yongchan, 2009). Chinas diverse and scenic landscape will ensure that tourist numbers keep going up in the future and the plans instituted by the Chinese Transport and Communications Association to improve cruise tourism in the country will also see it rise to one of the top destinations offered by cruise liners (Dervaes, 2003). BENEFITS OF THE DEVELOPMENT OF THE CHINESE MARKET TO THE EUROPEAN MARKET Will the development of the cruise industry in China help Europe sell cruises to Chinese markets? The simple answer is yes. Development of the industry will not only benefit the Chinese market but Europe, North America and the whole cruise industry. Development of Chinese ports and shipbuilding industry will help the global industry by providing alternatives in the sector; the Chinese market will provide a new bracket of tourists while China itself will be a new destination for cruises from around the world. REFERENCES Cartwright, Rodger Carolyn Baird (1999). The Development and Growth of the Cruise Industry. Woburn, MA: Butterworth-Heinemann Dervaes, Claudine (2003). Selling Cruises. New York, USA: Cengage Learning. Dowling, Kingston (2006). Cruise Ship Tourism. Cambridge, MA: CABI Publishing. Golden, Fran W. Jerry Brown (2002). European Cruises Ports of Call. Hungry Minds. Hannafin, Matt Heidi Sarna (2004). Frommers Cruises Ports of Call 2005: From U.S. and Canada Home Ports to the Caribbean, Alaska, Hawaii More. John Wiley Sons. Ludmer, Larry H. (2002). Cruising the Mediterranean: A Guide to the Ports of Call. Montreal, Canada: Hunter Publishing. Mancini, Marc (2004). Cruising: A Guide to the Cruise Line Industry. New York, USA: Cengage Learning. Maxtone-Graham, John (2000). Cruise Savvy: An Invaluable Primer for First Time Passengers. New York, USA: Sheridan House, Inc. Maxtone-Graham, John (2001). Liners to the Sun. New York, USA: Sheridan House, Inc. Stern, Steven B. (1997). Sterns Guide to the Cruise Vacation. 7th ed. Pelican Publishing Co. Robertsen, Graeme (2010). Cruise Ship Tourism Industry. Retrieved 2010-05-05 from http://www.lighthouse-foundation.org/index.php?id=112L=1 China Hospitality News (2009). Marketing MICE Cruises in China. Retrieved 2010-05-05 from http://www.chinahospitalitynews.com/en/2009/01/05/9635-marketing-mice-cruises-in-china/ Yongchang, Qian.(2009). The New Age of China Cruise Industry is Coming. Retrieved 2020-05-05 from http://www.ccyia.com/index.php/industry/viewen/1280 Zhao, Paul (2010).Chinas Cruise Industry is Growing Fast. Retrieved 2010-05-05 from http://prlog.org/10560599 G.P> Wild (International) Limited and Business Research and Economic Advisers (2007). Contribution of Cruise Tourism to the Economies of Europe Cruise Industry News (2010). Upward Trend for International Tourism. Retrieved 2010-05-05 from http://www.cruiseindustrynews.com/cruise-news/3941-42910-upward-trend-for-international-tourism.html

Case Manager Interview Essay

The interview with a case manager took place in Kevin on October 25, 2013 at 11:00am and it was done approximately at 12:15pm. What we will be evaluating in this interview using the questionnaire as a guide to better understand case management. The questionnaire or survey used for this interview has twenty-four question related to case management, which we will explore one question at a time. The first part of the survey address different function of case management. Kevin was ask based on his own experience in the department of Mental Health, would he eliminate any functions from the list given that included: Client identification and outreach, Intake, Psychosocial assessment, Goal setting, Resource identification and indexing, Getting general agreement by community agencies, Direct treatment (Therapy), Service planning, Counseling, Linking clients to needed services and supports, Monitoring service delivery, Reassessment, Advocacy, and Client evaluation? Kevin said, â€Å"He said that this is a sum of what they do but they go even further by engagement with the community, partnering with different non-profit and faith base organizations and integrating different resources to create a more comprehensive services for their clients.† According to Kevin the engagement with the community, different non-profit and faith base organization is what needed to be added to the function list for assisting clients with his or her needs. Also Kevin stated, â€Å"I would not change the chronological order because this is just a format† but he clarified by saying, â€Å"The way the chronological order is makes a guide but each client has unique needs, which can cause a change of the chronological order given to meet the most pressing needs at a time. The second question Kevin was asked, â€Å"Do You preform this function as part of your case management role?† Kevin response to the question, â€Å"Yes, let me explain to you how we do our process.’ ‘I have twenty-seven staff working for me and each staff has his  or her own expertise.’ ‘The different staff, which includes ten case managers, psychologist, house specialist, therapist, psychoactive nurses, all has goals in assisting indiv idual clients; making it a team effort.’ ‘So the functions for each client is done through shared responsibility.† He also explained that the staff have regular meeting to determine if goals of clients is being properly carried out and if not what can be done to achieve his or her clients plan. Kevin also said the only one thing that hinders his team from performing his or her function is lack of resources and policies can restrict how he can serve his clients. In addition, Kevin told me that in order to be refer to his department there has to be some kind of psychological problem but with the psychological problem there can be other condition present such as: drugs use, homelessness and criminal activities; making serving these individual more complex. The time spent of each function during a typical week depends on the individual and different people and as stated before these function are achieve with many different professional with his or her own expertise working together to serve his or her client. The next question asked Kevin was, â€Å"Where he would like to devote more time to a given function and why?† He stated, â€Å"As a agency he feels they are always on a consistent bases putting out fires and he would like to spend more time in engagement and worki ng with individual with long term goals.† Kevin also said that different crisis, which needed immediate attention is what keeps his organization from devoting more time to engagement and working with individual with long term goals. Kevin told me he works full time and that his case manager spends about eighty percent of his or her time doing case management. When ask if the work done at the agency was his own or a team or group basis he restated what he said earlier about team effort but also added it was also one his own because each team member has a part in the process where he or she focuses on; so to answer the question he said both individual and team effort. The next question for Kevin was, â€Å"What does he think is required for effective case management to occur?† Kevin says that empathy is important when working effectively as a case manager, resources and communication. He also said the way they determine family involvement in a clients is by first assessin g the clinical risk, is this relationship with family a healthy one that will assist his clients to achieve his or her personal goals. The question that followed  the last question asked was, â€Å"What has been the most successful part of your experience as a case manager?† He shared a story how when he first started working for the agency that he would see patients who had psychotic episodes during his or her intake and it was rewarding when he saw these patients at the end of his or her treatment functioning relatively normal, which demonstrated progression. He went on to explain to me that the ultimate goal of a case manager is to help improve lives and that this type of field is investing in the betterment of others. Moreover, Kevin said the attribute to his success is a collaboration of clients, agency team effort, families and the community. The next question in the interview was, â€Å"Is there something distinctive about Stanislaus County that gives case management a unique form here?† Kevin response was base on what he stated earlier about how his organization engagement makes his agency un ique. He stress by working with different non-profit and faith base organization the agency was working outside the box. He also told me that his agency has also works with other city such as: San Francisco, San Jose, Bakersfield and as far as Redding to provide service for his clients collaborating with different organization throughout Northern California. Kevin told me my working with different organization has broadened the agency resources causing them not to be limited to a geographical area making their approach different and unique. The next question in the interview was, â€Å"What are some of the main problems you face in doing case management?† Kevin stated resources is the main problem as a practitioner; not enough resources to assist all of his clients. Also Kevin said motivation of his clients is an issue to even recognize he or she has a problem, which needs to be address. Kevin also told me that with some clients basic needs are not being met and his clients cannot focus on assistance because of this problem. He went on to state the lack of understanding of both family and community is a problem, which his agency is trying to address through educating both family and community. He told me these have specific programs for family member to help educate them and they are actively involved with many events in the community. Also according to Mr. Panyanovong service gaps he encounters can be either lack of resources or policy issue where an individual cannot meet requirement to qualify for a certain pr ogram. He also told me that lack of insurance and state funding can be a problem in service gaps or lack of  space where the program and facility is overcrowded. The next question I asked Kevin was, â€Å"When there is a service gap, are there any things as an organization they can do?† He said that as an organization they work hard to remove barriers, discover new resources, change policies and try to determine how to get from point â€Å"A† to point â€Å"B†. He said with his team they work together talking about how can we expedite the process and continue to say his organization does not see it as just them but working with other resources. Then Kevin was asked, â€Å"What problems do you have with service providers, particularly agencies in the community that are essential to your clients?† He said he was not sure if he had a problem with a particular provider but with the physical he stated there could be disconnect because many of clients have Medicare a nd Medicaid, which has limitations. According to Kevin many of his clients have health issue, which can be a major problem in the care of his clients. The interviewer went on to ask, â€Å"What administrative problems do you encounter in your daily work?† He said that Medicaid has been a problem and there are many regulations that the organization needs to follow, which can make it difficult in servicing his clients. However, as a program Kevin explain to me they do what they can to serve their client despite Medicaid regulations and many times it has resulted in loss in revenue. The next question in the interview was, â€Å"What are some crisis situations you typically face with clients?† Kevin responded by saying, â€Å"Medication emergencies, client becomes suicidal, homicidal†, he goes on to say we do crisis assessments, evaluation and place clients in the hospital all the time, which answered the next question, â€Å"What are some things you typically do when these crises arise?† The question in the interview that followed that last question is a close end question where the interviewer asked Kevin, â€Å"Can you generally handle these situations in an adequate way?† Kevin answered the question by saying, â€Å"Yes†. As the interview continues the interviewer ask Kevin, â€Å"How could you be enabled to deal with crisis situations more adequately?† Kevin answered was again resources and working with different organizations. The next question is base on a scenario and it is, â€Å"A board-and-care home calls you to state a client of yours in this category is having hallucinations that are causing behaviors threatening to other clients. What do you consider your most therapeutic intervention, given no limitation on  resources?† The first thing Kevin said, â€Å"Is that he needs to assess is this an immediate crisis, which it sounds like it is?† He asses if this particular person is a risk to self or the community and if so he has the authority to put this client on a seventy two hours hold, placing them in a hospital for the individual safety and the safety of the community. The other thing Kevin mention is by assessing he can determine if this is an ongoing issue and nothing ever happens; than he may set up a meeting with this client. Kevin said because it is their client it is important to look into the history, which can shed light to what is causing him or her to act this way. The second part of the question for this scenario, â€Å"If the patient were living at home with family would you do anything differently?† Kevin said yes they would involve the family members more, which is ideal because now the client has support that he feel could be a benefit to the client. Also the family member could help with administration of medication and to determine if something is not right in their family member who needs special assistance. He went on to say the majority of his clients do not have that family support. The question the interviewer asked Kevin next was, â€Å"What can case managers do to optimize maintaining hard to handle patients in board -and-care facilities or with their families?† Meeting with client and working with him or her to remain medication compliant, forming good partnership with board-and-care facilities or family members. Kevin went on to say it would be better to treat the individual early before it becomes a crisis. The following question Kevin is asked is, â€Å"What recommendations would you make to strengthen the case management process and program in the Department?† Kevin states resources and also changing policies of organizations, which creates barriers in his clients being place in their respect program. Kevin continue on and said, that practitioners need to set healthy boundaries but at the same time have empathy for their clients and being able to connect with a client at a human level. He also stated that strengthen the commitment of clients to the goals that has been set and for the clients to acknowledge that there is an issue. When it comes to families and informal support networks, Kevin said, communication is key when working with them and education to assist them in helping the needs of the individual client. The interviewer than asked, â€Å"Since you started working in this program, have you initiated any major changes in the  way you do things or in the procedures?† Kevin says, â€Å"Yes† and that he has been in this program for over seventeen years and that the biggest shift according to Kevin is community oriente d, which is forming different partnership that the organization did not use in the past. This forming of partnership is done to increase the natural support system for clients in working with outside agencies. He went on to explain to me that when he first started the mentality was in the organization that they were the only agency. Also as a case manager they as an organization has heighten the awareness that the problem with mental health is a community issue; that everyone needs to be involve in supporting these type of individuals. Kevin continue by saying that they invited community partnerships, they invited faith base, invited community leaders to come to the table and have a conversation of how they could work together to make the problem of mental health better in their city. Kevin said this is accomplished through a town hall meeting to address all these concerns. Also Kevin said this change is adopted by his organization because it is a team effort and they have to work together for the benefit of their clients. The next question interviewer presented to Kevin was, â€Å"If you could design a case management program from scratch, based on your experience here, what changes would you make?† Kevin said many of the things they are currently doing is a direction that is offering more assistance for their clients by adding resources through many different organizations. The last question the interviewer asked, Kevin was, â€Å"What advice would you give to a new case manager coming into this agency?† Kevin said he would tell them to know their resources and that they are in the business of helping people, which requires them to have empathy towards their clients and to work as a team with colleague to give the best situation for his or her clients needs. The interview came to a conclusion and the interviewer thank Kevin for taking the time out of schedule to meet with him. The interviewer also ask if in the future if he has similar projects would it be alright for him to contact him again, which he said if his schedule permits he does not mind and he told me he tries to make time for these type of interviews because he feels it is part of educating the community and that he has not only met with college student but high school students to do similar interviews. Than, the interviewer said his final thank you and told Kevin to have a good weeke nd.

Laissez-faire: Supply and Demand and Demand Curve

TASK 1 Laissez-faire Laissez-faire is an economic environment in which transaction between private parties are free from tariffs, government subsidies, and enforced monopolies, with only enough government regulation sufficient to protect property rights against theft and aggression. The phrase laissez-faire is French and literally means â€Å"let them do†. But it broadly implies â€Å"let it be†, or â€Å"leave it alone†. A laissez-faire state and completely free market has never existed, though the degree of government regulation varies considerably. The basic characteristics of Laissez-faire economic systemFree competition The main body of the economic operation is for a large number of small private enterprises. Production and management strategies are made by private capitalists according to changing in market supply and demand. Private capitalists are free to participate or exit the economic activity of any of industries. The form of price is spontaneous in market. It shows the change of supply and demand, it can distribute the scarce resources to producers, and also distributes goods and services to consumers. Consumer rights Consumers are the main part of economic operation.Consumer rights show: private capitalists must be base on and consider the preferences of consumers in the coordination of production and management strategies. According to consumers in the market, the number of monetary voting (consumers use their own money to purchase their favorite products, it is also another form of voting), and understand the social consumption trends. Thus distributes human and material resources, financial resources, production and meet consumers demand to achieve the purpose of maximum profit. Consumers are the guidance of economic activity through the function of preference for certain goods and services.Protecting of government Laissez-faire economic activities and resource allocation by the market mechanism to promote, the country or the government's economic functions are restricted to the protection of free competition, protection of private property, set up some necessary public utilities and public facilities. The components are absence to function an idealized free market. The problems mainly in the following aspects: 1. The competition between enterprises is limited, and some may be a monopoly industries. In these cases, they will push up prices, up profits. 2.The lack of competition to promote efficient and profitable company†¦ 3. Power and wealth may not equal distribution. 4. Some of the company's behavior is harmful to the society. 5. Private enterprise will not produce some of the whole society to their own advantage but without the product. 6. The free market economy could lead to macroeconomic instability, may appear high unemployment and production of the decline of the recession and rising prices. TASK 2 Government intervention in the market can be used to achieve various economic objectives which may not be best achieved by the market.There are several policy instruments that the government can use. At one extreme, it can totally replace the market by providing goods and services itself. At the other extreme, it can merely seek to persuade producers, consumers or workers to act differently. Between the two extremes the government has a number of instruments, it can use to change the way of markets operating. These include taxes, subsidies, laws and regulatory bodies. Taxes and subsidies When there are imperfections in the market, social efficiency will not be achieved. Marginal social benefit will not equal marginal social cost.A different level of output would be more desirable. Taxes and subsidies can be used to correct these imperfections. Essentially the approach is to tax those goods or activities where the market produces too much, and subsidies those where the market produces too little. Taxes and subsidies correct externalities. Government imposes a tax equal to the marginal external cost, grant a subsidy equal to the marginal external benefit. Taxes and subsidies are to correct for monopoly. If the problem of monopoly that the government wishes to tackle is that of excessive profit, it can impose a lump-sum tax on the monopolist.A tax of a fixed absolute amount irrespective of how much the monopolist produces, or the price it charges. Advantages of taxes and subsidies It forces firms to take on board the full social costs and benefits of their actions. It is also adjustable according to the magnitude of the problem. What is more, by taxing firms for polluting, firms are encouraged to find cleaner ways of producing. Disadvantages of taxes and subsidies Infeasible use different tax and subsidy rates. Lack of knowledge. Laws prohibiting or regulating undesirable structures or behavior Laws are frequently used to correct market imperfections.Laws can be of those main types: those that prohibit or regulate behavior that imposes external cost s, those that prevent firms providing false or misleading information, and those that prevent or regulate monopolies and oligopolies. Advantages of legal restrictions When the danger is very great, it might be much safer to ban various practices altogether rather than to rely on taxes or on individuals attempting to assert their property rights through the civil courts. Disadvantages of legal restrictions The main problem is that restrictions tend to be a rather blunt weapon.Regulatory bodies Rather than using the blunt weapon of general legislation to ban or restrict various activities, a more â€Å"subtle† approach can be adopted. This involves the use of various regulatory bodies. Having identified possible cases where action might be required, the regulatory body would probably conduct an investigation and then prepare a report containing its findings and recommendations. It might also have the power to enforce its decisions. The advantage of such bodies is that a case-by -case approach can be adopted and, as a result, the most appropriate solution adopted.However, investigations may be expensive and time consuming only a few cases may be examined, and offending firms may make various promises of good behavior which may not in fact be carried out owing to a lack of follow-up by the regulatory body. Price controls Price controls can be used either to raise prices above, or to reduce them below, the free-market level. Prices could be raised above the market equilibrium to support the incomes of certain supplier. Prices could be lowered in order to protect consumer’s interests. The direct provision of goods and servicesSocial justice, society may feel that these things should not be provided according to ability to pay. Rather they should be provided of right: an equal right based on need. Large positive externalities, people other than the consumer may benefit substantially. TASK 3 To avoid fluctuation of inflation, the related policies of gover nment are monetary policy, Fixed exchange rates, Gold standard, Wage and price controls, cost of living allowance. Monetary policy Central banks must be keeping their inter-lending rates at low levels. To target rate is around 2%-6% per year.Government can avoid inflation through setting interest rates. High interest rates and slow growth of the money supply are the traditional ways, central banks prevent inflation. Keeping the growth rate of money steadily, and using monetary policy to control it, increasing interest rate, slowing the rise in money supply. Encourage people to put money in the bank. To reduce the number of money circulation. According to Keynesian, reduces aggregate demand when the economic is expanding, and increases demand to keep inflation stable. Increase taxes or reduce government spending.Fixed exchange rates Under fixed exchange rates, a country's currency is tied in value to another single currency. This essentially means the inflation rate in the fixed exch ange rate country is determined by inflation rate of country. Fixed exchange rate prevents a government from using domestic monetary policy in order to keep economic stable. Gold standard The gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set, fixed quantities of gold.The standard specifies how the gold backing would be implemented, including the amount of specie per currency unit. The gold standard was partially abandoned via the international adoption of the Bretton Woods System. Under this system all other major currencies were tied at fixed rates to the dollar, which itself was tied to gold at the rate of $35 per ounce. In the gold standard system, the internal value of currencies and external value in general is consistent, currency exchange between is stable and the exchange rate also have relatively solid foundation.Wage and price control Wage and price control is also called Income policy, Income policy mainly is to take wage price management policy, in order to prevent trade unions and the two groups monopoly enterprises still each other caused by the wages, prices take turns to the rising trend. Its purpose is to tries to control inflation and not lead to increased unemployment. Incomes policy based on the theory of main is pushed by cost inflation, because cost inflation is pushed by because of the rising cost of supply, especially wage increase, thus cause the price level to rise.Therefore, we must take inhibits the incomes policy, the form has the following kinds: sure wage-prices will, in order to limit wages-prices to rise. Base on compulsory measures, impose income tax policy. Cost of living allowance Keep the general level of commodity prices steady, strict control prices, the incomes of the workers and living allowance, reduce the cost of their life, so as to control income and the increased cost of products. The relationship between inflation and e mployment Demand-pull inflation When aggregate demand exceeds aggregate supply, will cause the general price level continued to rise.From Philips curve, we can understand that, when aggregate demand is greater than aggregate supply, in order to meet aggregate demand in the short term, we can increase aggregate output to provide more employment. TASK 4 Supply –Demand curve Supply Supply is to point to a producers in other conditions remain unchanged, at one time, ability and willingness to for a price to market with the amount of products. A supply schedule is a table that shows the relationship between the price of a good and the quantity supplied. A supply curve is a graph that illustrates that relationship.The supply curve is supply table and supply the visualization expression, and demand form or demand function of handing over the equilibrium, is used to represent the market producers and demanders can constitute a trade goods quantity and price. The supply curve can with â€Å"curve† appeared, also can use the â€Å"straight† form. In theory, meet the supply curve only supply theorem can be tilted to the upper right. The determinants of supply follow: 1. Production costs, how much a good costs to be produced 2. Technology used in production, and/or technological advances 3. The price of related goods . Firms' expectations about future prices 5. Number of suppliers Demand Demand is to point to a consumer in other conditions remain unchanged, within certain time, ability and willingness to buy in a given price of the product quantity. The demand curve is demand form and demand function expression of visualization, and supply table or transfer the equilibrium of supply function, which is used to represent the market producers and demanders can constitute a trade goods quantity and price. The demand curve can with â€Å"curve† appeared, also can use the â€Å"straight† form.In theory, can meet the requirement of the demand c urve can only theorem is right to tilt, so Veblen Goods and Giffen Goods are general demand curve is not those from left to right leaning items. The determinants of demand follow: 1. Income 2. Tastes and preferences 3. Prices of related goods and services 4. Consumers' expectations about future prices and incomes 5. Number of potential consumers Equilibrium Equilibrium is about the price-quantity curve, it means the quantity of supply is equal to the quantity of demand.In the market, when the price is given, the quantity of products that consumers demand is balanced by the quantity of products that producers supply. Demand curve shifts At each price point, greater quantity is demanded, the curve from D1 to D2, at the same time, the equilibrium price from P1 to P2, and the equilibrium quantity from Q1 to Q2. There is an increase in demand which has caused an increase in quantity. The increase can also come from changing tastes and incomes, price changes in complementary and substitut e goods, market expectation, and number of consumers.If the demand decreases, the situation is opposite, the demand D2 down to D1, the equilibrium price decreases, and the equilibrium quantity also decreases. The quantity supplied at each price is the same as before the demand shift, reflecting the fact that the supply curve has not shifted; but the equilibrium quantity and price are different as a result of the change in demand. Supply curve shifts When the supply of a product decreases, curve from S1 to S2, it makes the equilibrium price decreases from P1 to P2, but the equilibrium quantity increases from Q1 to Q2.If the quantity of supply decreases, the curve will from S2 to S1. The equilibrium price will increase and the equilibrium quantity will decrease as consumers move along the demand curve to the new higher price and associated lower quantity demanded. Partial equilibrium Partial equilibrium as the name suggests takes into consideration only a part of the market, ceteris p aribus to attain equilibrium. Partial equilibrium is based on a limited range of data, a standard example is the price of a single product, all other prices of the products in a fixed analysis.The supply and demand model is a local equilibrium model of economic balance, clear the market prices of the goods and some specific number won independence in other markets. In other words, the prices of all the alternative and complementary, and income level of consumer is constant. Partial equilibrium analysis testing these policy actions in the influence of creating balance in the industry or market only specific directly affected, ignore its effect in any other market or industry that they were small almost no influence. AD-AS model (Long-term equilibrium)AS is long-term total supply curve, it and potential output line entirely coincidence, when the total demand curve to AD, total demand curve and long-term total supply curve intersection of the decision's production for Y E, price level for P. When the total demand increased total demand curve from AD move up to the AD, total demand curve and long-term total supply curve intersection of the decision's production for Y E, price level for P, because Y = Y = Y *, so in the long run of total demand is growing only raised the price level, and won't change the production or income. TASK 5 Market Demand for Coffee Form of D0 Price| 1. | 0. 75| 0. 5| 0. 25| Quantity| 9| 11| 12| 14| Form of D1 (Price same as D0) Price| 1. 5| 0. 75| 0. 5| 0. 25| Quantity| 7| 8| 9| 10| Form of D1 (Quantity same as D0) Price| 0. 5| 0. 2| 0. 1| 0. 05| Quantity| 9| 11| 12| 14| If we define D0 is the initial demand curve. When demand decreases, D0 will leftward to D1. We can understand from above form, when D1 same as D0 in price, quantity of D1 is decreased; when D1 same as D0 in quantity, price of D1 is decreased. So the equlibrium of D1 is also decreased. ( the quantity and the price are decreased at the same time) Form of D2 (Price same as D0 ) Price| 1. 5| 0. 75| 0. 5| 0. 25|Quantity| 11| 13| 15| 17| Form of D2 (Quantity same as D0) Price| 3| 1. 5| 1| 0. 75| Quantity| 9| 11| 12| 14| If we define D0 is the initial demand curve. When demand increases, D0 will rightward to D2. We can understand from above form, when D2 same as D0 in price, quantity of D2 is increased; when D2 same as D0 in quantity, price of D2 is increased. So the equilibrium of D2 is also increased. (the quantity and the price are increased at the same time) Factors that affect the demand for coffee Consumer income. Generally speaking, in other conditions of constant, the higher the income of consumers, the more demand for commodities.So the quantity of coffee high income consumer demand is more than the quantity of coffee low income consumer demand. Consumer preferences. When consumers of some goods of preference increased, the demand for the goods number will increase. Instead, when of preference abate, demand will reduce the number. So the quantity of coffee demand that people like coffee is more than the quantity of coffee demand that people don’t like coffee. The price of related products. When the price of a commodity itself is fixed, but and it related to other commodity price change, this kind of goods is the number needs will also be changing. o a commodity demand and alternatives to price but change, namely substitutes the increase in the price of the commodities will cause the increase of demand, the price will reduce substitute caused the reduction of the demand for commodities. Reference of assignment Begg. D. and Ward. D. (2003) Economics for business. Boston: McGraw-Hill Economics for business. Press: FT Finance Abel, Andrew; Bernanke, Ben (2005). Macroeconomics (5th ed. ). Pearson Websites: http://www. conservapedia. com http://en. wikipedia. org

Essay about Mgt 498 - Ethics - 910 Words

Ethics Student Name MGT/498 Due Date Instructor Ethics A business must operate with ethics as a guiding principle to be successful and profitable. A company that is publically traded bears a responsibility of being a good steward of the profits the company earns, for the stakeholders, employees, and clients. The social aspect of a company and ethics go hand-in-hand. If a business fails to act ethically responsible, the result of that behavior can affect it socially. â€Å"The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit† (Wheelen amp; Hunger, 2010, pg. 72). When a company is established, it begins with a foundation constructed from an idea.†¦show more content†¦83). In the present day’s failing economy it is clear to see the consequences of unethical behavior and how it affects everyone involved. Unethical behavior not only affects the business, but also the employees, the stakeholders, When a business fails there is usually a rippling affect in the community and the general population. Enron The best example of unethical behavior can be gathered from Enron. â€Å"Enron, in particular, has become infamous for the questionable actions of its top executives† (Wheelen amp; Hunger, 2010, pg. 80). What occurred with Enron and where it went wrong was the Chief Operating Officer got greedy in addition to everyone else on the corporate ladder. Enron located in Houston, Texas, was an organization that operated commodities, paper, energy, electricity, and pulp products. Manuel Velasquez, an ethics professor at Santa Clara University wrote an article commenting on the many things that went wrong because of the federal government system that was in place. The regulations consist of a business having a set of ethics, but could bend the rules or manipulate the system if needed. 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