Top essay writing websites
Topic Picker For Exploratory Essay
Thursday, August 27, 2020
Argument essay Example | Topics and Well Written Essays - 1000 words
Contention - Essay Example For instance, media these days are inevitably utilized for item advancement, organization support, promoting a character, and some progressively (Hardy, 100). At the end of the day, there can be numerous things to be finished by basically bringing media into oneââ¬â¢s hand. The greater part of them are innovative in nature. To refer to an occasion, it is critical to generously think about the instance of item advancement or other pertinent support just to pick up compassion or consideration from the intended interest group. Frequently, it is seen in TV and other significant media how innovative these series of supports could turn out. For instance, utilizing the idea of viral advertising, there is a need or thought of speed. Just to have the option to hit this goal, inventive methods are considerably utilized along the procedure. Sooner or later, innovative methodological methodologies are generously included just to have the option to hit explicit goals. On account of Burger King for example, its thought regarding viral showcasing was considerably applied so as to increase exceptional consideration about its item or administration contributions. Along these lines, media have become beneficial apparatuses so as to assist a particular gathering with reaching its serious edge over the other or acquire explicit goals. ... Others then again were praised because of wonderful feature of something what they got. For example, the formation of Youtube and other long range interpersonal communication locales permit a person to make something that would have any kind of effect on the planet. Truth be told, numerous characters have cleared their way through the stepping stool of achievement due to the media. In whatever point it might serve, the main concern was to purposefully advise general society so as the equivalent would make impression, reaction or sentiment on the topic. This is a striking evidence that the media couldn't just present inventive procedures just at the opposite side of the coin. They might build up any significant issues, circumstances, concerns or any prospects of everything since they all have the ability to advise the general population and associate with peopleââ¬â¢s lives, in pretty much every walk, if they would be dispensed eventually in a profoundly innovative manner. Truth be told, media have become essential parts on how the chosen authorities in the US had the option to effectively increase famous votes in the political decision. It is subsequently certain that bringing the media into the peopleââ¬â¢s hands could get vulnerable to control, abuse in either positive or negative goals, which could give either fortunate or unfortunate outcomes. Some great aftereffects of the media anyway would incorporate keeping the open educated with the correct data. The individuals have the right to know reality, and in numerous years the media have demonstrated viable instruments in doing as such. For instance, the battle against terroristic acts was ruled by the media with regards to data scattering. Truth be told, there were different terroristic endeavors
Saturday, August 22, 2020
Writing Quality Essays - LUMO Application Essay Samples
Writing Quality Essays - LUMO Application Essay SamplesThe LUMO application essay samples are designed by the best specialists who have extensive experience in writing essays. The experts at LUMO offer these samples to students with a view to help them write a quality application essay. They have a complete range of application essay samples that you can select from depending on your choice.Students, as always, prefer to go for written essays instead of verbal ones when it comes to essay writing for their application essay. But their writing skills may not be very good enough to convey their ideas clearly to the admissions committee of the university they are applying to. This is where these essay samples come in very handy.LUMO application essay samples are written by experts and students with extensive experience in writing applications for admission to the best universities. These essays are crafted according to the LUMO's standards and hence they prove to be the best platform to express your personal thoughts about yourself and the university in which you are applying. These examples have been constructed keeping in mind that the essay must be both coherent and compelling.A well-crafted application essay will work wonders for your chance at admission to the university of your choice. Once you are able to convince the admissions panel that you are the most suitable candidate for the post of your choice, then you will definitely be heading for the doors of the university of your choice. If you want to make sure that you do not have to struggle with the task of crafting an effective application essay, then take the assistance of the LUMO application essay samples and give it a go.There are various LUMO application essay samples that you can choose from. They range from popular essays written by famous writers to those written by local and foreign authors. The topics covered in each application essay sample differ from one another, but the aim is the same; to h elp the student to prepare the best essay that is capable of impressing the admissions committee.This is because the admissions committee is also anxious to know what makes a person tick before it agrees to award them the post of the next dean of their choice, or whatever other post that they may wish to occupy. The curriculum vitae is the single most important document required for admission to any institution. Therefore, there is a need to present a well-written and well-constructed CV. With the help of the LUMO application essay samples, the student can reach the threshold of success in a jiffy.There are several LUMO application essay samples available in the market that you can use for creating your own masterpiece. The expert students at LUMO know how to write a CV and as such you do not have to worry about finding a credible essay example. They will also provide you with tips and techniques on how to make your CV stand out from the rest of the applicants.An essay written in th e most effective manner and with the help of the LUMO application essay samples will certainly make you a success in life. The application essay samples will help you shape your own story and will ensure that you get admitted to the school of your choice.
Friday, August 21, 2020
Federal Reserve Essay Example | Topics and Well Written Essays - 500 words
Central bank - Essay Example The predominant standpoint throughout the following couple of months is unquestionably somber, and it appears the main way out of it is for the administration to dispatch an improvement intend to restore the fumbling economy. There have been boundless requires the administration to stop these cuts, as these scratch and dent section approach rates are profoundly hindering to the general economy. Noted teachers from Harvard University and large cash the board houses are begging the national bank to stop these cuts, as these simply fuel swelling and help support the costs of essential products. In any case, not everything is lost on the country's monetary approach as there stays as solitary splendid spot. The more fragile dollar has contributed incredibly to settling the economy and holding the fortification while all devastation loosens up. An a lot more vulnerable dollar combined with a developing worldwide market has padded and reoriented the nation's economy by boosting corporate benefits. Barring oil and other fundamental products, the nation's monetary circumstance isn't as terrible as it looks on paper. Indeed, even with that given, the reality despite everything remains that it is the soaring costs of products, for example, oil which fill in as the essential guilty party in this monetary groove. For the most part, at whatever point the nation is in an all-encompassing downturn the costs will collaborate and go down as needs be.
Tuesday, May 26, 2020
Gender Inequality Within The Language - 882 Words
Gender inequality in language In 2013 there was a change in Sweden language that dragged peopleââ¬â¢s attention on gender inequality. Sweden has added a gender neutral pronoun ââ¬Å"henâ⬠into the language system. ââ¬Å"Henâ⬠this words represents both male and female. This events reminded people about gender inequality happened in language. Every language people speak tend to have gender inequality in them. However does it really work to just change the pronoun in the language? I think probably not. There is indeed some reasons to the change in the language. Language plays a significant role on effecting how we think, so if there is gender inequality appears in language we speak every day, then it tend to give everyone an impression that male and female are naturally unequal. People talk every day. The words used by them has become a habit of them, it has stuck into peopleââ¬â¢s mind, when the language divided people into two gender, people in their mind will automatically divide people into two genders, and view two gender differently. In Japanese for example, they divide language into only used by male or to male, only used by female or to female and neutralize. It is very different from how a man talk than how a female talk. It has strong rule on the language. So in Japanese family you can see there are obvious division of labor between male and female, man are expected to work outside and woman are expected to stay at home and obey what husband says. So it is well known t hat Japanese manShow MoreRelatedDiscourse Community Project : Discourse1705 Words à |à 7 Pagesapplication of common language norms, characteristics, patterns and rhetorical strategies. All of the authors are writing about corresponding ideas and discussing their identical goals; the prevalence of gender inequality in the legal profession and the unjust consequences derived from it. Similarly, all five sources intentions are to oppose the standard viewpoint that gender inequality has diminished and provide evidence to support this claim. Their ideas of remedying gender inequality in the legal professionRead MoreGender Inequality And The Social Construction Of Gender1562 Words à |à 7 Pagesof gender, race, class, and sexuality have led to discrimination and inequality of those classified under a variety of these categories. Through understanding the significance of these social constructs on society it becomes apparent the intersectionality they have when it comes to understand ing why certain groups may face discrimination or inequality. This paper examines gender inequality and how the social construction of gender makes it difficult for the pursuit of equality amongst genders. GenderRead MoreLeadership Prejudices of Men and Women in the Workplace Essay1592 Words à |à 7 Pagesdebate of inequality for women in executive position will now be examined through online periodicals that show gender stereotypes in the workforce, different strategies men and women use to break the glass ceiling of the workplace, a focus on the interactions and reactions of a male Chief Executive Officer (CEO) versus a female CEO, leadership prejudices among women and women, and various studies regarding leadership of men and women. Because of stereotyping, very little focus is on men within the workplaceRead MoreHow Does Language Affect Gender Inequality?1572 Words à |à 7 PagesThe English language has been used to convey meaning and purpose to individuals within society. The development of language as a reflection of the structure and hierarchy of society is believed to give purpose and place members within the community. Over time, what has been understood to be experienced is the way in which it may be construed to posit one gender over another. One example is the way in which language can be used to position females in a lesser or subordinate role. This essay willRead MoreThe Medias Manipulation of Friendships871 Words à |à 3 Pagesimportantly normalcy. It conceptualises the world and our role within it. The mediaââ¬â¢s misrepresentation of the fluid nature of gender archetypes with rigid, limiting and immutable stereotypes constructs a distorted view of reality. We all know the idealised characteristics of masculinity and femineity: men are strong, powerful and protective while women are delicate, beautiful and dependent. However, this repetition desensitises us to gender disparity and encourages us to conform to the role dictatedRead MoreThe Exploration Of Feminist Theory Essay1536 Words à |à 7 PagesThe theory focused on is the exploration of feminist theory developed by Mary Wollstonecraft in the 1790ââ¬â¢s. The traditional interpretation of this theory is based on the common ideology of feminism within the Communication world. Illustrating gender inequality the feminist theory analysis into the social fields of politics, business, media platforms, and social normalities. Research traditions include socio-psychology and semiotics due to the cause and effect relationships that help create socialRead MoreMuch Ado About Nothing Gender Inequality Essay1176 Words à |à 5 Pagestruth about gender roles and inequality within the Elizabet han society. The inequality of genders is prevalent in Beatriceââ¬â¢s language, how the male characters view women within the play, and the concept of honor. Beatrice is easily one of the biggest and roundest characters in Much Ado About Nothing. Shakespeare created Beatriceââ¬â¢s character in order to bring to the stage opposition to the ââ¬Å"traditional womanâ⬠of the Elizabethan time and shed light on gender inequality. Hero seemsRead MoreMultiple Factors Causes Inequality And Inequality Essay917 Words à |à 4 Pagesfactors cause disparity and inequality in education. Therefore the social inclusion challenge is vast ââ¬â high levels of poverty, fragile environments, entrenched gender and caste discrimination and the existence of ââ¬Ëhiddenââ¬â¢ groups of particularly vulnerable children, including disabled children, working children, HIV affected children and those displaced by conflict. Adding to these challenges are weak governance, incoherent policies, and weak coordination and collaboration within and between sectors. Read MorePriestley s Views On Inequalities1296 Words à |à 6 Pagesare Priest leyââ¬â¢s Views on Inequalities in society shown in the Presentation on Sheila before, during and after the Inspectors Visit? Throughout the play An Inspector Calls by J B Priestley, it is clear that Priestley strongly believes in the importance of a caring society and the consequences of our actions. He presents these views on inequalities through the presentation of Sheila Birling. This is done in various different ways using numerous techniques. A major inequality that has been highlightedRead MoreAttire Analysis. In Terms Of Attire, From A Visual Standpoint1354 Words à |à 6 Pagescarried forth into todayââ¬â¢s society, as the clothes one wears and brands one represents in public, sends a message of identity to everyone around (Kaiser, Susan B 2005, p. 34; Ang 2000, p. 11). If a person is being observed from afar before coming within speaking range, clothing choice will dictate an individual s first impression of that said person. This assessment of fashion and identity clearly highlights the tendency of social exclusivity on campus between various groups or people. Those sitting
Friday, May 15, 2020
Analysis Of The Article On A Aging By Carol Mcmahon
How To Stop Aging By Carol McMahon | Submitted On May 03, 2011 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Carol McMahon Are you aging unnecessarily? Answer these questions and find out: Do you see gray hair as loss of youth (as opposed to loss of pigmentation)? Do you describe how you feel as young or old, rather than energetic or tired for instance? Do you see an age spot on your hand or face where you once saw a freckle? Ifâ⬠¦show more contentâ⬠¦Aches and pains taken in stride at eighteen, meet with: Just as I thought, old age! Doctors tell us no one dies of old age. Our concept, however, dictates what s real, and we see otherwise. Some dentists suggest duller yellow teeth for elderly patients. Under the spell of the concept we accept them. Own up to age and age owns us, but the problem goes far beyond negative thinking. The program tells us what to do. It says: act your age, and we obey with grave consequences for health. Act Your Age! Health Damage Caused By The Age Concept Not long ago finding that people in their nineties can build muscle made front page news. Why did the finding surprise us? It surprised us because it violates our concept of aging. Gradual deterioration sets up expectation of irreversible loss in muscle mass, bone density, lung capacity, balance, flexibility, etc. Obedient to the concept, we act our age,sitting sedentary, deteriorating according to plan. Inactivity precipitates decline in a vicious circle, but no matter how limiting and self-destructive, we conform and age to the letter. We succumb more to the concept than to age itself, even though all the while, the concept is mistaken. The Error In Aging Age as gradual deterioration is a self-fulfilling prophesy. The concept itself however, is mistaken. Ancient wisdom offers a more realistic view. It maintains that disuse, not age, is the cause of deterioration. In this view: that which is usedShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words à |à 1573 PagesResearch: Dr. Judgeââ¬â¢s primary research interests are in (1) personality, moods, and emotions; (2) job attitudes; (3) leadership and influence behaviors; and (4) careers (personââ¬âorganization fit, career success). Dr. Judge has published more than 140 articles on these and other major topics in journals such as Journal of Organizational Behavior, Personnel Psychology, Academy of Management Journal, Journal of Applied Psychology, European Journal of Personality, and European Journal of Work and Organizational
Wednesday, May 6, 2020
Essay on Assata an Autobiography by Assata Shakur
Assata: an Autobiography by Assata Shakur Assata Shakur was born on July 14, 1947 her real name is Joanne Deborah Byron, after she was born her parent divorced. She was living with her mother, aunt and her grandparents in Wilmington North Carolina. As a child she spent time working with her grandparents in a restaurant they own by the beach. Her grandparents instilled in her the love for written word, and she spent a great deal reading to satisfy her imagination. Her family tried to infuse in her a sense of dignity, ââ¬Å"you are as good as anyone elseâ⬠, also not to let anyone said that theyââ¬â¢re better than her. Shakur never like her real name Joanne she felt that she was not an African American and she should go back to Africa, because ofâ⬠¦show more contentâ⬠¦The media campaign against her was competently crafted on the part of the government and its associates. She was portrayed in the media and posters were placed throughout the country (including Black communities where she was being heralded as a hero) that labeled her as armed, dangerous, and of the criminal element(adjectives similar to those used to describe Angela Davis by Richard Nixon). Indeed, she was caught in the hands of the white, racist government. Alas, to show how contrived this campaign against Shakur was, after her arrest she was tried six times on six different sets of charges and acquitted each time. In 1977, before an all-white jury (this fact alone is enough to tell these people to go to h***), she was convicted of the murder of Zayd Shakur and the white police officer that was present at the scene. In the mid-80s, with the help of some wonderful people, she escaped and eventually emerged in Cuba. Here she declared, ââ¬Å"I am a 20th Century escaped slave. Indeed, she is free, but she daily suffers from the separation from her family, her loved ones, and all that exile brings. it doesnââ¬â¢t matterShow MoreRelatedChangjiang Liu Essay 21476 Words à |à 6 Pagesperspective of Assata Shakur, we always remember her radical style. Assata felt the power of oppression when she was a child. As she narrated in her autobiography, there was a zoo near her grandparentsââ¬â¢ home. Everyday she would beg, plead, whine and nag her grandmother to take her to the zoo. However, one day her grandmother told her that they were not allowed to enter the zoo because they were black (Shakur 27). This childhood memory left a deep impression of segregation on Assata. When discussingRead Moreassata shakur1434 Words à |à 6 Pagesï » ¿Brandon Ross September 3, 2014 Africana Studies, SP12 Assata Shakur Paper Assata Shakur is a very strong and determined individual that refused to give up her beliefs and ideas to receive her freedom. When she was incarcerated, treated like an animal, beaten to a bloody pulp and lost all basic human rights, she only grew more stronger and determined. Shakur was a political prisoner and suffered because of her Black Panther Black Liberation Army affiliation. She spent six years in prisonRead MoreShakur : A Leader, Activist, Survivor, And A Black Woman963 Words à |à 4 PagesAssata Shakur A leader, activist, survivor, ââ¬Å"rebelâ⬠, mother and a black woman, Assata Shakur is a woman who many may have heard about but not too many know her story or what she accomplished. In her autobiography, Shakur really gives a very descriptive perspective about what she has experienced in her life being apart of the civil rights and Black Panther movements. Throughout the Shakurââ¬â¢s story, she first talks about her experience after being beaten and then being transported to the hospitalRead MoreAssata Shakur Response Paper664 Words à |à 3 PagesAssata Shakur has the most direct commentary out of all of the activists that we have discussed. One can sense her urgency for the unity of black people and how her past experiences shaped her into the person she is today. In Assata: An Autobiography, some of her most intriguing comments were the comments about self-hatred in the black community. She is adamant about addressing and fixing the self hate among black people. However, though attempts have been made by organizationsRead MoreThe Narrative Of The Life Of Frederick Douglass And Assata1165 Words à |à 5 Pagesand Assata: An Autobiography the authors talked their experience of confinement while being in slavery and prison. The perspective Fredrick Douglas brought upon his experience of slavery affected the tone throughout the book. As for Assata her viewpoint of confinement was from her experience as a prisoner in the hospital and prison. Confinement is the act of isolating someone from human contact and society or a mother giving birth to their baby. Both narratives Frederick Douglass and Assata ShakurRead MoreTupac Shakur : A Influential Writer1966 Words à |à 8 Pages Tupac Shakur was obviously one of the most influential and greatest rappers of all time. Not only he was a rapper but he was an actor as well. He was loved by many across the nation not only for his talent and vocals but also for his message that was so widely spread. He was a very influential character in the black power movement because his music was extremely popular and he was a very prominent figure in the musical world, especially for young people. He made songs for the future not just forRead MoreEssay on Black Women and the Crooked Room1226 Words à |à 5 Pagesexamples (different from those mentioned in, ââ¬Å"Sister Citizenâ⬠ââ¬â you can use examples from your own knowledge or any of the other 3 books used in the course) of how Black women have had to struggle to stand upright in the crooked room. Oprah Winfery, Assata S Question 2 In the lives of Black women, shame is important central emotion and is in direct contrast to the emotion of pride. According to Harris Perry, in Sister Citizen, there are three essential elements in the emotion of shame (104).Read MoreThe Desire Of Talk Back Essay2383 Words à |à 10 Pagestowards having to do chores, which white kids did not have to do. The anger continues to build up and appears to reach its childhood peak when she tells the story of a white boy she attacked in the sixth grade because he accused her of stealing his pen. Assata states: ââ¬Å"I was usually very quiet and well behaved. [The professors] acted like i had jumped on that boy for nothing, and they couldnââ¬â¢t understand why i was so angry. As a matter of fact, even i didnââ¬â¢t understand. Thenâ⬠(42). Her incapacity to articulateRead MoreAnalysis Of The Book Black Rage Essay2024 Words à |à 9 Pagesblack rage was seen as something that could get black bodies murdered, it was supposed to be contained and hidden. hooksââ¬â¢ view of rage as something vital for the well-being of black individuals is important in the context of Assataââ¬â¢s autobiography. At one point, Assata states that white people could never understand someone becoming a Black revolutionary because ââ¬Å"they had so little to revolt againstâ⬠(119). Later on, in thinking back to having grown up in a segregated south, she remarks: ââ¬Å"If i sitRead MoreAnalysis Of The Movie Assata An Autobiography 884 Words à |à 4 Pages ââ¬Å"Assata: An Autobiographyâ⬠is written by Assata Shakur and takes place in the 1970ââ¬â¢s when Shakur was being charged with several assaults, many of which she did not commit. Throughout her autobiography, Shakur begins telling events in which show how big racism is towards African Americans and later on shows how it occurs with other races and cultures as well, like Native Americans, Chicanos, Asians and Hippies. Shakur makes it clear to the read ers how strongly she believes America is a place that
Tuesday, May 5, 2020
Oil Price Affecting the AD
Question: How oil prices affect the AD or AS of an economy? Please select one of the below: The petrol exporting nations Petrol importing nations Answer: Introduction Price of oil is a major issue of concern for every economy from its exporter to its importers. It is the key which controls the economys growth and prospect directly or indirectly. If the price of oil increases, it influence the energy producing countries positively as their revenue increases by exporting that oil or the products in which oil is used as a major input. In case of oil importing countries it deteriorates, the conditions of the consumers as the hike in oil price cause an all over inflation in those economies(Davis, 2003). Cause and effects: overview The reasons behind this inflation are obvious. Oil is the base of any economy. From transport industry to the manufacturing, the role of oil dominates their position that whether they will be beneficial for the common people or not. In case of agriculture, there is need for this oil as the energy used in there to pumping, willowing all are the results of using the electricity or any kind of energy. Moreover, to produce this energy to boost it up the role of oil is inevitable. The hike in the oil price causes the increase in the cost of transportation as different kind of petroleum products is used as the fuel (Ioannides, 2014). Therefore, if the price of petrol, diesel increases it will cause to increase the transportation cost also. Now transportation is a very big issue of concern, as it is inevitable from regular office goers to farmers to industrialists to teachers etc (Debating Aggregate Demand and Aggregate Demand: Introduction, 2010). Increase in oil price also causes the food inflation as the cost of production increases due to hike in oil price. It influences the people of the economy hampering their purchasing power parity, because their income does not rise with the increase in the price level they face in the food market (Ito, 2010). Issues of the Oil importing nations Here we consider the issues of the oil importing countries and analyze how their aggregate demand and aggregate demand is getting affected with the rise or fall in oil prices. One of the major oil importing country is United Kingdom. So let us concentrate on this economys difficulties with change in the price of oil (Lawn, 2006). In the short run, the aggregate demand curve is downward sloping and aggregate supply curve is upward sloping. Short run equilibrium occurs at the point where the two lines coincide with each other. The locus of the points of short run equilibrium is termed as the long run aggregate supply curve. It is the responsibility of the policy makers to take the proper expansionary or contractionary policy as par the fall or hike in oil prices to provide the common people a stable economic condition (Nakano, 2004). The current economic condition of the economy refers to the situation causing the economy to boost up because the recently a downfall has been noticed in the recent oil price. So it affects the economy of UK in both ways. For the consumers and the manufacturers as well as transport authorities, it seemed to be good news. However, in case of oil and gas extraction sector has been hampered a lot for this fall (OIL PRICE REVIEW, 2010). If we consider the economic activities of UK, we can see that the business like air transport, road transport, and refined oil petroleum based industries, and the manufacturing sectors producing oil intensive products are getting benefits as their cost of productions getting low as the prices of oil falls. It results in lowering inflation and it creates massive employment (Oil Price Review, 2013). Now if we consider the sector of oil and gas extraction, we get that, it is severely affected due to the fall in prices of oil. Here volatility of oil prices is considered the external shock and government should take the remedial policies to get over the situation (Pandey, n.d.). Adverse demand shock: a significant hike in oil price The rise in the oil prices are the one of the major cause of slowing down the growth in the oil importing countries. The terms of trade of those countries fall down due to this price hike. It implies that the cost of each unit of import is more than the domestic earning from the each unit of export. So the size of the price hike and the time duration of it affects the aggregate demand of the economy. Real Income and wealth effect on aggregate demand It has been empirically noticed that the economic situation was more affected in the 1973-74 or 78-80, than that of mid 90 crisis. The cotractionary effect was observed in the economy. In todays technological up gradation, it has been noticed that the energy conservation is a very important tool to get rid of this problem. It reduces the dependency on the oil imports thus minimizing the impact of the price hike in oil industries. Effects on world demand The fall in the terms of trade refers to the sharp transfer of wealth from the oil importing countries to the exporting one, the real income will be declined due to this price rise. Through the aggregate demand model here, we represent the situation of the British economy with the light of impact of rise in the oil prices. The model is here being used to analyze what should be the key targets or economic policies to fight with the external shocks. The activity here has been designed to show the role of the aggregate demand in this kind of situation of the economy. The model used is a simplified one. Models are used to compare the reality with a standard perfect situation (POSSO, 2012). It helps us to diagnose how far the real situation is from the ideal one. It gives the idea about the non-standard ceases also by changing the main variables. It can be checked by varying one or more than one variables, then what happens if the economy gets that kind of shock. It helps to predict the future situation and rectify the economy over time with the method of rational expectation (SHU, 2007). As we go on the deep of the problem, the model becomes more complex, as the availability of information diminishes. An increase in oil prices majorly affects the aggregate demand as the oil is such a product which is used in almost every industry. So hike in oil prices will cause increase in the price of the factor inputs which lie on the economy. So it will cause the aggregate demand schedule to shift rightward so that inflation increases than the initial situation. It is obvious, because as we have discussed earlier that the oil price hike causes the deterioration of the purchasing power of the common people. And here fall in real national income refers to the same situation. The contraction in the aggregate demand lowers the real income causing a lower economic growth faced by the economy. Now low economic growth causes lack of employment as the prospect of future recruitment is very disappointing in the industry (Zhang et al., 2014). So in case of Britain what we notice in case of increase in oil price is the severe unemployment in the industrial economy, because of the dependency of the modern technology on the energy sector. The economic interpretation is very clear, as each industry is more or less dependent in the energy sector, so this external shock of significant oil price hike causes massive inflation resulting severe unemployment in every sector due to the fall in real national income. Aggregate demand Model: effect of price hike Output or income What we notice in the above diagram that the fall of oil price causes the aggregate demand curve to shift to rightward. What we can see in the diagram, is that at the new equilibrium point, price level falls so inflation decreases. Another point is that the output level or the real income level increases than that of the initial situation. As real income is Y/P. As P falls, Y/P automatic increases in case of fixed Y. The economic interpretation is that the economic development is observed while the real income increases. It accelerates the pace of the economic growth for that particular oil importing nation. Now as the energy sector is solely dependent upon the availability of the crude oil, its volatility as the factor cost severely affect the economy. Now as the price of oil falls as in this case, it opens up several employment opportunities. So, we can say that this positive demand shock can reduce the unemployment of Britain as an oil importing nation. Concluding remarks Now the significance of this new equilibrium is that the real income level comes back to the initial position. So a natural level of unemployment is always maintained in the economy. But the price level does not go up to the initial position. So, we can interpret that, a positive demand shock can take care of inflation and unemployment in the short run but only the inflation in the long run. References Davis, G. (2003). Book Review - Oil and the Economy: Recent Developments in Historical Perspective, edited by James L. Smith.EJ, 24(4). Debating Aggregate Demand and Aggregate Demand: Introduction. (2010).Review of Radical Political Economics, 42(3), pp.307-307. Ioannides, Y. (2014). Neighborhoods to nations via social interactions.Economic Modelling. Ito, K. (2010). The Impact of Oil Price Hike on the Belarusian Economy.Transit Stud Rev, 17(1), pp.211-216. Lawn, P. (2006). Using the Fisherian concept of income to guide a nation's transition to a steady-state economy.Ecological Economics, 56(3), pp.440-453. Nakano, T. (2004). Theorising economic nationalism*.Nations and Nationalism, 10(3), pp.211-229. Oil Price Review. (2013).Oil and Energy Trends, 38(7), pp.10-12. OIL PRICE REVIEW. (2010).Oil and Energy Trends, 35(10), pp.10-12. Pandey, R. (n.d.). Macroeconomic Implications of Oil Price Hike.SSRN Journal. POSSO, A. (2012). REMITTANCES AND AGGREGATE LABOR DEMAND: EVIDENCE FROM SIXTY-SIX DEVELOPING NATIONS.The Developing Economies, 50(1), pp.25-39. SHU, J. (2007). Correlation between adenylosuccinate lyase (ADSL) gene polymor-phism and inosine monophosphate acid (IMP) content in domestic fowl and genetic relationship between red jungle fowl and domestic fowl.HEREDITAS, 29(03), p.343. Zhang, G., Liu, P., Gao, X. and Liu, M. (2014). Companies Behavior of Carbon Emission Reduction at the Risk of Oil Price Volatility.Procedia Computer Science, 31, pp.291-298.
Subscribe to:
Posts (Atom)