Introduction to International Trade - 1356 Words

Introduction to International trade International trade is the exchange of capital, goods, and services across international borders or territories or in other words is the process of import and export. international trade has been present throughout much of history its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced in technology transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. While In most countries, such trade represents a significant share of gross domestic product (GDP). Increasing international trade is crucial to the continuance of globalization this is because without†¦show more content†¦Advantages and disadvantages of international trade The advantage of international trade is greater variety of goods available for consumption and international trade brings in different varieties of a particular product from different destinations. This gives consumers wider arrays of choices which is will not only improve their quality of life but as a whole it will help to the country grow. Better utilization and efficient allocation of resources since countries tend to produce goods in which they have a comparative advantage and its lead to when the countries produce through comparative advantage, wasteful duplication of resources is prevented and helps save the environment from harmful gases being leaked into the atmosphere and also provide countries with a better marketing power. Promotes efficiency in production as countries will try to adopt better methods of production to keep costs down in order to remain competitive. For those countries that can produce a product at the lowest possible cost, will be able to gain a larger sh are in the market. Therefore an incentive to produce efficiently arises. This will help standards of the product to increase and consumers will have a good quality product to consume. As the market for the countries’ goods widens through trade more employment couldShow MoreRelatedInternational Trade : Comparative And Competitive Advantage1512 Words   |  7 Pages International trade theories are simply theories that explain how imports and exports work between different countries. Hence the name international trade. In this paper I will be reviewing different theories of international trade, explain the difference between comparative and competitive advantages, and answering three important questions. What the underlying economic rationale for international business activity is, why trade takes place, and the gains from trade and investment. I will firstRead MoreChinas Entry into the World Trade Organization688 Words   |  3 PagesIntroduction World Trade Organization ( WTO Eng . World Trade Organization (WTO) - an international organization founded January 1, 1995 for the purpose of international trade liberalization and regulation of trade and political relations between the Member States. WTO established under the General Agreement on Tariffs and Trade (GATT) .WTO is responsible for the introduction of new parts as well as enforces the members of the organization of all agreements signed by most countries and ratified byRead MoreEconomic Integration and Global Markets to Uk Business Organizations1735 Words   |  7 PagesTable of contents Introduction-----------------------------------------------------2 Main body---------------------------------------------------------3 The definition of International trade------------------------3 The reason of International trade----------------------------3 The importance of international trade---------------------3 Economic integration and global markets to UK business organizations-----------------------------------------4 The impact of two policies of the European Union onRead MoreThe Role of International Trade in Economic Growth of Countries699 Words   |  3 PagesINTRODUCTION International trade plays a significant role in the economic growth of countries. It gives a country an opportunity to specialize in products and services that can be produced at a low cost compared to other nations, that is a comparative advantage. However gains from international trade is uneven between countries due to several country specific factors. These factors are complex and multidimensional; and include GDP, distance between countries, culture, population, import and exportRead MoreArticle: Euro Effects1717 Words   |  7 Pagesï » ¿Euro Effects Introduction European Monetary System (EMU) is the arrangement by following which most EU (European Union) nations have connected their currencies to put a stop to great changeability and vacillations relative to one another. It was in 1979 that this system was organized in order to soothe and stabilize the foreign exchange and respond to price increases among member nations. However, sporadic changes not only elevated the values of strong currencies but at the same time, loweredRead MoreInternational Trade Agreements And How Governmental Influences Benefited Trade1231 Words   |  5 Pagesdiscuss the benefits United States (U.S) had by engaging in international trade agreements and how governmental influences benefitted trade. To regulate international trade between nations, international trade agreements exist. These agreements involve regulating imports, exports and international trade of some specialty goods. The United States have been involved in many international trade agreements includ ing free trade agreements. Free trade Agreements (FTA) helps the United States to open up foreignRead MoreMarket Forces Shape Organisational Responses Using A Range Of Examples?1086 Words   |  5 Pagescustomers to put an organisation under pressure, which also affects the customer s sensitivity to price changes. Firms can take measures to reduce buyer power, such as implementing a loyalty program. For example, the introduction of Tesco clubs card by Tesco retailer and also the introduction of a discount card. Threat of Substitution: The existence of products outside of the territory of the common product boundaries increases the tendency of customers to switch to alternatives. For example, bottledRead MoreThe Pros and Cons of Globalization Essay1680 Words   |  7 PagesWHAT IS GLOBALIZTION? First off, we will search and explore some definitions of the term globalization. ?Globalization is the process of denationalization of markets, politics, and legal systems, i.e., the rise of the so-called global economy? (Introduction to Globalization, 2004). Another article states, ?Globalization is an inevitable phenomenon in human history that?s been bringing the world closer through the exchange of goods and products, information, knowledge and culture. But over the lastRead MoreThe Main Goals Of Free Trade Agreements1186 Words   |  5 Pages One of the main goals of free trade agreements is globalization. Globalization, or global free trade, is the creation of trading connections between countries throughout the world (Globalization). Globalization stresses free trade. Free trade is when tariffs are reduced or eliminated on exports or imports. Tariff tax percentages added to US imported goods have dropped dramatically from about 60% in the 1930s, to lower than 10% in 2005 (In ternational). With less money taxed on products, corporationsRead MoreStudy Plan for Masters Degree in International Trade642 Words   |  3 PagesStudy Plan for Masters Degree in International Trade: Abstract. The Master Program of International Trade at The department of Economics of shanghai University is one of the leading ones of its kind around. The program has been created to provide students with the best possible skills and capacity to find employment in the international sector or to pursue international trade policy research. In response to the changing environment and development of the expertise of the faculty, The Department

The Pan American Airlines Free Essays

Pan Am was an American icon for more than sixty years. The company skyrocketed into success and set the industry standards for others to follow. With Trippe at the helm, it seemed the company could do no wrong and that the world was truly within its grasp. We will write a custom essay sample on The Pan American Airlines or any similar topic only for you Order Now However, changes in competitiveness in the marketplace, thanks to the Transpacific Route Case and deregulation, coupled with decline in air travel and soaring fuel prices caused the company’s ultimate demise. Juan Trippe: The Man Behind Pan American: Juan Trippe, founder of Pan American World Airlines, graduated from Yale in 1921. He became bored with working on Wall Street, and after receiving and inheritance, started to work with New York Airways, a commuter service that served the wealthy and powerful. Eventually, with the aid of some of his wealthy friends, Trippe invested in an airline named Colonial Air Transport (â€Å"Juan Trippe†, 2005). Trippe’s interests lie in servicing the Caribbean, though. As such, he created the Aviation Corporation of America, based in Florida. It was this company that Trippe would use to take over fledgling Pan American Airways. Pan Am’s first flight from Key West to Havana took off on October 28th, 1927, and signaled the beginning of an era of evolution for the aviation industry. Besides Pan Am, Trippe established China National Aviation Corporation, providing domestic service within the Republic of China. He also became a partner in Panagra, the Pan American-Grace Airways, holding a quasi-monopoly for air travel in many parts of South America (â€Å"Pan American-Grace Airways†, 2005). But, it would be Trippe’s Pan Am and his famous Clipper planes that would indelibly etch his aviation efforts in the minds of millions of people. Trippe was known, in the aviation industry, for his innovation. He believed Pan Am was the standard setter, and that air travel should be just for the wealthy, but for the general public as well. He is often credited as the father of the ‘tourist class’ and saw great potential for expanding his customer base with the development of jet aircraft. Introducing 707s and DC-8s into his fleet, Trippe was able to lower fares and increase passenger numbers (â€Å"Juan Trippe†, 2005). It was Trippe’s desire to service even more passengers that led to his request of friend Bill Allen of Boeing to produce an even larger aircraft. The end result was the Boeing 747. Yet, despite his best efforts, the oil crisis of the 1970s and airline deregulation, would see Trippe’s Pan Am eventually crumble apart (â€Å"Juan Trippe†, 2005). History of Pan American World Airlines: Pan American World Airlines, commonly known as Pan Am, was the primary international air service provider in the United States for approximately sixty years. Pan Am was a cultural icon of the 20th century, and the unofficial flag air carrier of the United States (Shaw, 1997, p. 12 – 13). It was their dedication to customer service and innovations, such as the use of jumbo jets and computerized reservation systems, that would help shape the industry. Major Henry â€Å"Hap† Arnold and a few partners founded Pan American Airways Incorporated in 1927. They had obtained a U.S. mail delivery contract to Cuba, yet did not have the physical assets available to actually do the job. A few short months later, Trippe had formed Aviation Corporation of America, with backing from William Rockefeller and Cornelius Vanderbilt Whitney, along with others. With Whitney at the helm as President, Aviation Corporation had obtained the landing rights for Havana, by acquiring a small seaplane service between Key West and Havana. During the same time, the Atlantic, Gulf and Caribbean Airways Company was established, by New York investment banker, Richard Hoyt (â€Å"Pan American†, 2005). It would be these three companies that would merge in a holding company called the Aviation Corporation of the Americas, in June of 1928. Hoyt was named Chairman, Whitney was made President, and Trippe and his partners held forty percent of the equity. Pan American Airways Incorporated was created as the primary operating subsidiary of Aviation Corporation of the Americas, with Trippe positioned as the operational head of the new company (â€Å"Pan American†, 2005). The United States government approved the transfer of the original mail delivery contract to Pan Am, without hesitation. The government had feared that the German-owned Colombian carrier SCADTA would have no competition in routes between the US and Latin America. The government further assisted Pan Am by insulating it from American competitors, choosing Pan Am as their ‘chosen instrument’ for American foreign air routes (Bilstein, 2001, p. 79). This monopoly on foreign airmail contracts allowed Pan Am to expand quite rapidly. Plans were made to expand Pan Am’s service through all of Central and South America. The next decade saw Pan Am purchasing multiple failing airlines in their target territory, as well as the negotiation with postal officials to win airmail contracts in their regions. Trippe toured Latin America, with Charles Lindbergh, to negotiate landing rights. Within a few short months, Trippe had opened up service down the west coast of South America, all the way to Peru. With the purchase of New York, Rio and Buenos Aires Line, Pan Am opened up a seaplane route along the eastern coast of the continent, including Buenos Aires, Argentina, and Santiago, Chile (â€Å"Pan American†, 2005). Pan Am’s stock soared, with the development of their South American network. Negotiations with Britain and France, to start a seaplane service between the United States and Europe began in earnest. The British state carrier, Imperial Airways, was eager to partner with Pan Am, however France’s Aeropostale was on of Pan Am’s competitors in South America, was less eager to help. Eventually, Pan Am was able to negotiate a contract offering services from Norfolk, Virginia, to Europe by way of Bermuda and the Azores. In addition, they obtained another airmail contract, this time servicing Boston to Halifax (â€Å"Pan American†). Pan Am’s next plan of action was to begin land plane service, over Alaska, to China and Japan. Lindbergh’s services were once again called upon, as he was sent to survey the area, in 1930. Yet, due to the political turmoil in the Soviet Union and Japan, it was determined that that route was not viable. Instead, Trippe focused on developing service from San Francisco to Honolulu, with continuing flights on to Hong Kong and Auckland. By 1934, Pan Am had secured rights to land at Pearl Harbor, Midway Island, Wake Island, Guam, and Subic Bay. By 1935, the company had been awarded the airmail contract between San Francisco and Canton, China (â€Å"Pan American†, 2005). Pan Am’s ‘Clippers’ were the only aircraft capable of transcontinental travel, at the time. The airline prided itself on service, and their flight crews formal naval-style uniforms and procession when boarding harkened to this fact (Gandt, 1995, p. 19). As World War II set in, most of Pan Am’s fleet was called into military service. This allowed Pan Am to open new routes in central Africa and Iran. By early 1942, Pan Am was the first airline to operate a route that circumnavigated the globe (â€Å"Pan American†, 2005). Following World War II, Pan Am’s fleet was rejuvenated with faster planes made up of Boeing 377s, Douglas DC-6s and Lockheed Constellations. Competition from began to impact the previously untouched Pan Am. TWA began service to Europe, Braniff to South America and Northwest Orient began service to East Asia (Bilstein, 2001, p. 169). Hoping to reposition itself as America’s chosen international carrier, in 1950, Pan Am changed its name to Pan American World Airways, introduced ‘economy class’ service, and began to offer around-the-world flights. Significant Accomplishments of Pan Am: Trippe had positioned Pan Am as a leader in the aviation industry through a variety of tactics. Airmail contracts had launched the company and expanding passenger service had firmed its hold on the industry. However, competition had intensified during the company’s first two decades of service. To remain competitive, Trippe began investing in new aircraft. Jets and wide-bodied airplanes, such as the DC-8 and 707, were used to increase the number of passengers they could service, while reducing costs. The company was the first to operate 747 service, in 1970, and was one of the first three airlines to take out options on the Concorde, however, did not exercise this option. Diversification was another competitive option for Pan Am. Trippe bought into the InterContinental Hotel chain, as well as a business jet, the Falcon, as complimentary businesses. In addition, Pan Am was involved in developing a missile-tracking range in the South Atlantic and also in operating a nuclear engine-testing lab, in Nevada (Ray, 1999, p. 184). It was in 1962 that Pan Am would introduce the next industry innovation. The organization contracted IBM to build PANAMAC, a computerized airline and hotel booking system. Occupying the fourth floor of the Pan Am Building, PANAMAC not only managed Pan Am’s flight and hotel reservations, but also was a database of knowledge on geographic areas, airports, aircraft, other hotels, and even restaurants (â€Å"Pan American†, 2005). In 1971, Pan Am expanded Terminal 3 of John F. Kennedy International Airport, dubbing it ‘Pan Am Worldport’. The largest airline terminal for several years, Worldport was most noted for its flying saucer shaped roof that was suspended far from the outside columns of the terminal, allowing airplanes to pull their noses under the roof, preventing passengers from getting wet as they got on or off the planes (â€Å"Pan American†, 2005). Intercontinental routes flourishing, in 1964, Pan Am began providing helicopter service between New York’s major airports and Manhattan. Their fleet had grown from 707s, 747s and DC-8s, to include: 720s, 727s, 737s, 747SPs, Lockheed L-1011s, and eventually Airbus A300s (â€Å"Pan American†, 2005). This diversified fleet allowed Pan Am to meet a variety of needs for the varied routes they serviced all over the globe. Pan Am was not only a great leader in the aviation industry, but also a leader in humanitarian flights. The company flew approximately 650 flights a week between West Germany and West Berlin. And, in 1966, Pan Am flew Rest and Relaxation (RR) flights during the Vietnam War, carrying American service men and women to Hong Kong, Tokyo, and a variety of other Asian cities for well-deserved RR (â€Å"Pan American†, 2005). In 1973, the energy crisis dealt a staggering blow to Pan Am. High fuel prices and low demand for air travel were only Pan Am’s beginning worries. The Transpacific Route Case was one of the most damaging policies for the company. Prior to the Transpacific Route Case, the only airlines allowed to fly civilian transpacific routes were Pan Am and Northwest Orient. President Dwight Eisenhower opened the case, in 1959, to investigate opening the transpacific market up to more competition. Although Eisenhower closed the case, Kennedy reopened it in 1961. By 1969, the Civil Aeronautics Board had awarded additional transpacific routes to airlines including: American Airlines – Australia, Fiji, Hawaii, New Zealand, and Samoa Continental Airlines – Guam, Hawaii, and Saipan Northwest Airlines – Hawaii to Asia flights Trans World Airlines – Hawaii, Japan, and Taiwan Western Airlines – Hawaii (â€Å"Transpacific†, 2005). This additional competition drastically reduced Pan Am’s international passenger service as well as profit margins. The large fleet of 747s the company had invested in, while expecting a continued increase in travel demand, would now weigh down the company and eat away at their profit margin. In response to this new competition overseas, Pan Am worked on further developing their domestic market. Road blocked at winning approval for new domestic routes, it was airline deregulation, in 1979, that would allow Pan Am to expand its service in the United States. However, the gift of deregulation would also be the company’s greatest bane. Trippe had failed to create a strong domestic presence for his airline. He now found himself competing with established carriers in the domestic market, for the routes he wished to enter, plus had to compete with them on international routes as well. In response, Pan Am absorbed National Airlines, in 1980, yet a bidding war caused the company to sell for a much higher price than its worth (â€Å"Pan American†, 2005). The two companies were at odds with one another from the beginning. The two disparate fleets caused the company to run inefficiently and ineffectively. Their route networks were incompatible as were the two companies’ corporate cultures. Insurmountable debt began to be accumulated. In an effort to recover, the Pan Am Building was sold off to MetLife, in 1981, and in 1985, Pan Am’s entire Pacific route was sold to United Airlines. The money from the sales was used to invest in new aircraft, and despite the beginning of shuttle service between Boston, New York and Washington D.C., the financial losses and declining customer service plagued the company (â€Å"Pan American†, 2005). The final straw came with lax security on board Pan Am flights. Despite the development of the Alert Management Systems, in 1986, in order to reduce cost and avoid inconveniencing customers, Pan Am kept security at a minimum. The Lockerbie bombing caused Pan Am to be associated with terrorism and brought a $300 million lawsuit, filed by more than 100 families. By March 1991, the company began to sell off it’s most profitable routes, and on December 4th, 1991, the airline’s last flight from Bridgetown, Barbados to Miami was completed. In the end, Pan Am was an American icon for more than sixty years. The company skyrocketed into success and set the industry standards for others to follow. With Trippe at the helm, it seemed the company could do no wrong and that the world was truly within its grasp. However, changes in competitiveness in the marketplace, thanks to the Transpacific Route Case and deregulation, coupled with decline in air travel and soaring fuel prices caused the company’s ultimate demise. How to cite The Pan American Airlines, Essay examples

Slavery In US Essays (3396 words) - Slavery In The United States

Slavery In US The Slaves' And The Slaveowners' Views Of Slavery "That face of his, the hungry cannibals Would not have touched, would not have stained with blood;-- But you are more inhuman, more inexorable, Oh! ten times more than tigers of Hyrcania." Shakespeare I chose the topic about slavery for my research paper because I thought it would be an interesting experience doing research about slavery. It is American history and the more we know about it, the better we can understand what is going on today in our country. I think that because slavery was abolished very recently in terms of historical periods of time, it still has an impact on today's economic and political life. Searching for the writings by slave owners was a more difficult task then searching for the writings by slaves. However, I found a lot of useful material in various sources. The slavery in the United States is no doubt a shameful history of our country. White people transferred the slaves living in Africa to the New Land and treated them as their property, not as human beings. The living and working conditions of slaves and their food were extremely poor. Those were inhuman conditions in which the slaves had to survive. Endless executions of the slaves made the situation even worse. Slavery was a period of time when one race treated the other race as animals, things, property, but not as people. Unfortunately, not everyone saw the situation as it was in reality at that time. As we can see from many different sources available today, the points of view of slaves and slave owners on slavery were the opposite to each other. That can be seen in various slaves' and slave owners' descriptions of slavery. Slaves described their dwellings, food, clothes, labor, and the terrible treatment of slaves by their masters. On the other hand, slave owners described the relationships between slaves and their masters in a very positive way. They argued that slavery is very beneficial for the slaves and the slaves are very happy to live with their masters. Let us now consider both these points of views in details. First of all, let us look at the slaves' description of the cloth they wore. The clothes supply was as minimum as possible and the quality of the clothes was very bad. Here is how one of the slaves describes it. "Our dress was of tow cloth; for the children nothing but a shirt; for the older ones a pair of pantaloons or a gown in addition, according to the sex. ... In winter, a round jacket or overcoat, a wool hat once in two or three years, for the males, and a pair of coarse shoes once a year"(Lester 65). This scanty list of items was the only things available to the slaves. Certainly, it was not enough for the people who worked very hard for more than ten hours a day. The clothes were very dirty and with holes all over the place pretty soon. Imagine if you have to wear the same shirt day after day for the long time. The masters did not care about slaves' children; they did not distribute much clothes for them either. According to the slaves, it was their problem what to put on their children when it was cold outside (Feldstein 45). However, some slaves say there were some masters who gave some extra material for the children, but it was not sufficient any way. Others gave any additional clothes only for extra work (Feldstein 45). As for the slave owners' seeing the slaves' situation, one of the slaveholders reveals that he used to distribute new clothes once a year (Feldstein 45). This testimony by the slave owner actually testifies the slaves' descriptions of the slavery that makes us believe to the slaves even more. However, there were a lot of slave owners who saw the situation quite differently. One anonymous slave owner in his letter to Lord Brougham argues that "...as a slave, he [a black person] would have at least the protection of one master interested in his welfare; as a freeman, almost beyond the pale of government protection, with no one to take care of him, of a despised and inferior race, a stranger in a land of strangers, how miserable would be his fate!"(Williams 41) That is what this person really believes, and he was not alone. The slave owners really believed that slavery was very beneficial for the slaves, and they clothed

Exam is Not Everything Consideration Essay

Exam is Not Everything Consideration Essay Exam is Not Everything Consideration Essay Sample Exam is Not Everything Consideration Essay Sample From the time immemorial, exams have been used as the main way of assessment. Exams have turned out to be an important segment of human lives. Since I was in the junior school, I have been taking exams. The same case has happened to anyone who has been in the school system. Since exams have been a part of our lives in almost all instances, people have developed a strong mentality that the only way to succeed in life is by passing exams. This mentality has developed in people’s mindsets and since every person wants to succeed in life, they fear exams and take them seriously. The most amazing thing is that the same mentality has developed in the society. Individuals who pass exams are seen as successful, while those who fail are encouraged to work hard. Seriousness that people have during exams raises more rhetoric than answers. I tend to question whether exams measure what they are meant to measure. This kind of thinking provokes me to think otherwise. I argue that exams do not measure what they are intended to measure. I find gaps in the way exams assess individual abilities and skills. I also blame exams as a key contributor to challenges that we have today. There are people who have useful skills, but they cannot be captured by exams and, thus, such skills get wasted (Little). Exams and Alternative Method of Assessment In this paper, I shall extensively argue on proposition that exams should be replaced with an alternative method of assessment. Firstly, I do not believe that exams measure what they are meant to measure. They do not achieve their intended goals. Real intentions of exams are to help a teacher and a student to achieve certain objectives. Exams allow the teacher to assess what students have learned. Such kind of information is very helpful to the teacher since the teacher will realize weak areas that need to be revised. The teacher will be able to engage students and identify the best ways of covering certain areas. If this is done, learning will be exciting and it will remain quality-oriented. Unfortunately, this does not happen. On the one hand, teachers focus on administering exams just because it is mandatory. They never take exams as a way of assessing weak areas so that they can assist students to improve them. If students fail exams, teachers conclude that students are foolish or they never take their class work seriously. The whole issue is forgotten and the teacher continues with the syllabus. Students have no chance to prove their abilities (Morris). Students, on the other hand, end up discouraged since they believe that they are failures. From the above perspective, it can be argued that exams are not beneficial to students or teachers. The same proves the argument that exams should be replaced with alternative methods of assessments. It also proves that exams do not measure what they are intended to measure. Exams are just a cause of trauma to students. I tend to argue that teachers do not even care what they test. They are out to ensure that they have something that they can make grades from. They do not care whether what they test is helpful to students so long as it is an exam (Gnad). Secondly, I totally agree with the notion that exams are a way of assessing student’s performance. However, the question of how accurate exams can evaluate students in terms of their ability and intelligence makes me believe that exams should not be used as a way of assessment. I tend to concur with Albert Einstein’s argument that everyone is a genius and individuals should not be judged using only one method since it may discourage them. In relation to the above case, I argue that we should not judge students’ abilities by exams only. If exams are used as the only way of assessment, it will be impossible to capture abilities and skills that students possess. Their real potential and ability would remain unrealized. Moreover, exams tend to pose a very wrong assumption. Exams assume that a single method can be used in assessing students accurately. Such an assumption is very incorrect. Student population presents a lot of diversities. Students possess different le arning styles; however, exams are inefficient in capturing differences in learning and it calls for different ways of assessing their abilities and potential. The same argument poses another critical question. If teachers clearly understand that students have a lot of differences and they cannot be assessed in the same way, why are exams still used as a way of assessing students’ potential and ability? The same argument justifies the reason there should be different methods of assessing potential of students (Dowling). Thirdly, I believe that exams should be replaced with an alternative method of assessment because exams are more of a mind game than assessment. Exams are aimed at testing whether students can easily recall what has been taught in class. While some students require a lot of time to study and understand, some will read a textbook the day before the exam and pass it, while others who cannot do that fail. Moreover, some students may perform poorly in exams, but they can easily demonstrate what they have learned through presentations and applications (Gnad). However, such capabilities are not captured in exams and such students end up failing. It is thus right to state that exams do not measure individual ability and skills, but rather they test the ability to recall. In the end, a student with the strongest ability to recall and memorize is classified as intelligent. From the above revelations, exams are a way of gambling and it does not test the ability of an individual nor skills that one has. In addition, exams have resulted in a scenario where there are many people who can pass exams, but they cannot be able to translate their learned skills into practice. The same calls for the need of having an alternative way of assessing abilities of students in a more comprehensive way (Dowling). Exams are highly susceptible to teaching. Despite strict penalties that exist, it is eminent that exams are still susceptible to cheating. Students can easily sneak exam materials and cheat in exams. Furthermore, some teachers can easily provide their favored students with questions that appear in exams. The same proves that exams are susceptible to cheating. When such a scenario happens, some students end up having the upper hand and they acquire merit that they do not deserve. Furthermore, computer systems that store exam results before release are also vulnerable to hacking. Such a scenario calls for an alternative method of assessing students. A method that is not susceptible to cheating or hacking need to be put in place (Morris) Exams shift mentality of a student from seeking knowledge to seeking grade. Students do not bother to add more knowledge that is not in the syllabus since they believe that it is useless. Their main intention is to obtain a good grade and not to attain new knowledge. This form of mentality hinders creativity and exploration of new knowledge. It is unfortunate that teachers only encourage students to read past papers so that they can master questions that will appear in exams, but they do not encourage them to get additional knowledge on the topic. This form of mentality is against the main goals of education. Exams only tie up the mind of students to certain principles that are unclear instead of setting them free so that they can explore new knowledge (Gnad). Furthermore, although exams are marked using the same standards, it remains eminent that different examiners may grade the same paper differently. Cases of favoritism are also evident in exams. Students can also coerce teachers to change their marks. These kinds of inefficiencies prove that exams do not measure what they are meant to measure. While I do not advocate for a system that is totally perfect, I believe that inefficiencies presented by exams as a way of an assessment prove that the method is very ineffective. The method needs to be replaced with an alternative method that can capture various aspects in a more comprehensive way (Morris). From the various arguments presented above, it is undisputable that exams need to be replaced with another alternative method of assessing students. Inefficiencies revealed by exams prove that exams cannot assess students fairly. Inconsistencies and inefficiencies prove that exams do not measure what they are intended to measure. End results are students who cannot apply what they have learned in class, but they can pass exams. These students will be irrelevant in the job market since they cannot apply theoretical skills (Little). Nevertheless, opponents paint a different scenario Firstly, they argue that different variables such as intelligence and competence cannot be measured accurately by any method since they are not straightforward. As a result, there is a need for a formal system that will help in measuring such variables so that the education system can remain relevant. There is a need of accessing differences that exist in the levels of knowledge as well as experience. Opponents strongly argue that there is no other method that can test students in an impartial manner like exams. Exams have clear and measurable outcomes and, thus, they are not vague. For this reason, exams should not be replaced with alternative methods of assessing students (Dowling). Secondly, opponents argue that exams are still relevant. They argue that proponents do not appreciate the fact that exams are better off than the lack of any test. According to opponents, although exams are not perfect, they help to some extent. Opponents agree that cheating prevails in exams, but they also reiterate that exams do not cheat. They pose a strong argument that these are prevailing conditions that allow cheating, but the exam does not cheat. Opponents argue that individuals should focus on ways of improving existing conditions so as to ensure that cheating does not prevail instead of doing away with exams. Opponents challenge proponents to accept the hard reality that there is no alternative method that can be perfect and, thus, the focus should be on improving on exams (Morris). In addition, opponents challenge proposed alternatives such as discussions and group works as ways of assessing students. They discredit such alternatives by arguing that cheating also prevails in such methods. Students are more likely to copy from other students in a group work than when they are in the exam since there is supervision. Moreover, group works can promote laziness in one way or the other. Students can take advantage of hard working students and they fail to do their work since they know that they will be graded as a group and they will get equal marks. In case of exams, they are very specific. They gauge individual capacity and, thus, it is possible to get more accurate results than when people are assessed as a group (Dowling). Opponents also believe that exams provide an excellent way of measuring understanding and knowledge. In addition, exams measure the ability of an individual to express him or herself. What an individual writes in an exam is a clear indication of what an individual has learned. If there were no exams, individuals would not even bother working hard since they would hold an assumption that they know everything while that may not be true. Opponents challenge proponents to recognize that without exams education system will be irrelevant (Gnad). In conclusion, I believe that exams should be replaced with an alternative method of assessment. Exams do not provide a fair playing ground. They do not recognize diversity among students. Teachers do not focus on ensuring that exams are useful to students, but they only administer them since they are mandatory. Cheating is prevalent in exams and, thus, the main aim of exams is undermined. It is unfortunate that exams produce students who cannot apply theoretical skills into practice. Students always read so that they can excel in their exams, but they never seek knowledge.

How Foreign Direct Investment Affects the Economy

How Foreign Direct Investment Affects the Economy According to the International Monetary Fund, foreign direct investment, commonly known as FDI, ... refers to an investment made to acquire lasting or long-term interest in enterprises operating outside of the economy of the investor. The investment is direct because the investor, which could be a foreign person, company or group of entities, is seeking to control, manage, or have significant influence over the foreign enterprise. Why Is FDI Important? FDI is a major source of external finance which means that countries with limited amounts of capital can receive finance beyond national borders from wealthier countries. Exports and FDI have been the two key ingredients in Chinas rapid economic growth. According to the World Bank, FDI and small business growth are the two critical elements in developing the private sector in lower-income economies and reducing poverty. The US and FDI Because the US is the worlds largest economy, it is a target for foreign investment AND a large investor. Americas companies invest in companies and projects all over the world. Even though the US economy has been in recession, the US is still a relatively safe haven for investment. Enterprises from other countries invested $260.4 billion dollars in the US in 2008 according to the Department of Commerce. However, the US is not immune to global economic trends, FDI for the first quarter of 2009 was 42% lower than the same period in 2008. US Policy and FDI The US tends to be open to foreign investment from other countries. In the 1970s and 1980s, there were short-lived fears that the Japanese were buying America based on the strength of the Japanese economy and the purchase of American landmarks such as Rockefeller Center in New York City by Japanese companies. At the height of the spike in oil prices in 2007 and 2008, some wondered if Russia and the oil-rich nations of the Middle East would buy America. There are strategic sectors which the US Government does protect from foreign buyers. In 2006, DP World, a company based in Dubai, United Arab Emirates, bought the UK-based firm managing many of the major seaports in the United States. Once the sale went through, a company from an Arab state, albeit a modern state, would be responsible for port security in major American ports. The Bush Administration approved the sale. Senator Charles Schumer of New York led Congress to try to block the transfer because many in Congress felt that port security should not be in the hands of DP World. With a growing controversy, DP World ultimately sold their US port assets to AIGs Global Investment Group. On the other side, the US Government encourages American companies to invest overseas and establish new markets to help create jobs back home in America. US investment is generally welcome because countries seek capital and new jobs. In rare circumstances, a country will reject a foreign investment for fears of economic imperialism or undue influence. Foreign investment becomes a more contentious issue when American jobs are outsourced to international locations. Outsourcing of jobs was an issue in the 2004, 2008, and 2016Â  Presidential Elections.

Structure, properties and treatment of steels Assignment

Structure, properties and treatment of steels - Assignment Example The first three methods change the chemical composition, carburizing by the addition of carbon, nitriding by the addition of nitrogen, and cyaniding by the addition of both carbon and nitrogen. The flame hardening and induction hardening processes do not change the chemical composition of the steel and are essentially shallow-hardening methods. In flame and induction hardening the steel must be capable of being hardened, therefore the carbon content must be about 0.30 percent or higher. So in case of 0.6 % plain carbon steel we have got only two surface hardening processes left and these are flame hardening and induction hardening process. These two are essentially the shallow hardening methods. Selected areas of the surface of a steel are heated into the austenite range and then quenched form martensite. Therefore, it is necessary to start with a steel which is capable of being hardened. Generally, this is in the range of 0.3 to 0.6 percent carbon. So depending upon the other required properties of the steering shaft the most appropriate method of surface hardening is induction

Artificial Intelligence and Expert Systems Dissertation

Artificial Intelligence and Expert Systems - Dissertation Example 2 Introduction The telecommunication engineering is considered as the most specific and high technology service industry. The constricted integration and Information technology applications related to the business procedures are its main characteristics. Moreover, in order to promote competition in this industry, the telecommunication industry is constantly deploying Information technology applications. The telecommunication environment is determined Due to its unique characteristics such as, distribution, continuous enlargement in network size and specific fault tolerance techniques. The application procedures are defined by the above characteristics. However, in telecommunication, the software systems need to overcome with a new variety of telecommunication protocols and a number of hardware platforms and network architectures. In fact, these systems consist of other characteristics for example, high cost, concurrency, high reliability needs, diversity and complexity (Patel 2002). The telecommunication operations are facing different challenges nowadays, for instance globalization and creative technology procedures. Thus, the industry would become more competitive in order to endure global market along with other competitors. Thus, in order to enhance the quality of services we need to increase cost. The developing economics and state-owned operators are basically privatized. This will help to provide improved and better services to the customers. On the contrary, several larger operators fortunately grab the best opportunities that are offered by the global telecommunication providers. For example, BT and Vodafone, this is due to the economies of scale factor present in the telecommunication networks. However, the technologies that are related with the Internet has been developing immensely thus contributing towards growing future of Internet and IP services and applications. In modern days, the clients are allowed to choose their own vendor and service prov iders according to their needs and can assemble their personal solutions. The new technologies such as 3G and mobile Internet speed up the production of new services. Therefore, the unchanging market has been converted into an increasingly user-driven market place. This change in telecommunication depends upon the operator’s capability to generate services and applications that are demanded by the customers. There is a vast range of software platforms, innovative variety of services and an increased customer based operations are available in order to manage an effective telecommunication infrastructure basics. The telecom operators must have the capability in order to develop themselves promptly, to implement and to maintain services for the customers demand anytime and anywhere. In addition, the artificial intelligence (AI) techniques are initially implemented to the telecommunication industry ages ago. During 1988, the artificial intelligence technique (IA) was first implem ented in telecommunication industry. Moreover, it was initially explained by the Macleish who describes the relationship between the two rapidly evolving technologies i.e. artificial intelligence (AI) and telecommunications. During that time, the major utilization related to the artificial intelligence (AI) in telecommunications was considered as the initial system that is designed for diagnosing complex equipment in all off-line modes. Currently, the DSS are integrated with artificial neural networks. The ANN is defined