Ethical issues in Health Care Management Essay Example | Topics and Well Written Essays - 500 words

Ethical issues in Health Care Management - Essay Example One of the most baffling and difficult potential causes for ethical issues in the healthcare system is the doctor-patient relationship. Let’s take for example a fictitious healthcare center. In any case the issue of doctor-patient relationship can extend much more in reality and can indulge even the healthcare personnel – nurses, caregivers and medical assistants. We can discover multi-layer ethical issues arising on the grounds of giver-receiver relation. This relationship is radically distinctive in the sense that one has the advantage of possessing certain knowledge and the other is exposed, vulnerable and intimidated to trust. In order to prevent misuse of the giver (medical personnel and doctors) and imposing his dominance over the receiver (the patient) ethic codes and value must be solidly instilled. There are several causes for ethical issues in the doctor – patient model. The first cause is the information availability. We can look at two examples. On one hand due to the nature of the healthcare institution, the personnel is able to extract details from the patient which is any other situation would be considered invasive. Thus, the healthcare institution is obliged to keep high confidentiality to preserve the patients’ rights and privacy. On the other hand, possessing the knowledge allows doctors to withhold sensitive information in order to protect the patient. A fine line needs to be created and ethical codes in healthcare centers try to achieve the ethical violations. Klugman and Dalinis (2008) give a distinctive commentary on the healthcare issues and practices in the rural areas and how they differ from the urban settings. They comment that rural practitioners are physically placed in small, closed communities where socializing with their patients is necessary outside of the healthcare center. Residents in the rural areas have different

Challenges in Containing Health Care Costs Essay - 1

Challenges in Containing Health Care Costs - Essay Example payments to Medicare Advantage plans will be reduced or how pharmaceutical companies will have to pay rebates to Medicaid plans, among other revenue-generating schemes (Cutler, 2010, p.1131). The question that begs to be addressed, however, is whether they will suffice. Cutler raised the feasibility of the cost reduction requirements, stressing that it is difficult to sustain (p.1131). He pointed out, for instance, how some reductions can only be made once such as how "overpayments" cannot be eliminated twice. It is clear, hence, that there is a need for an effective savings scheme that is consistent and long-term in scope. One of these is the elimination of unnecessary expenditures incurred in erroneous medical practice. According to Chiapelli (2010), medication errors, particularly in the area of patient safety issues affect 1.5 million people and incur billions of dollars in expenses (p.56). In order to treat patient infections resulting from erroneous practices, for instance, an estimated figure of $30 billion is already incurred every year (Scott 2009). Addressing this challenge, thus, can yield huge potentials in terms of savings and the realignment of resources, wherein funds are allocated to areas that need it the most. The current strategies involves variations of mandatory and voluntary regulations such as those implementing process measures, the use of information technology, attention to hygiene, along with performance measures and standards of safety in patient care. Then, there are also mechanisms in place that monitor, maintain, evaluate and improve medical practices. These include public quality reporting and performance benchmarks, including those requirements and evaluation tools in approaches such as incentives-based or pay-for-performance schemes. It is imperative that policymakers are aware of this strategy, especially the benchmarks and their results because they will effectively inform decisions that make public policy. The information

Reducing Inequalities in Healthcare

Reducing Inequalities in Healthcare Background Equity in health and reducing inequalities are considered as the main goals of all health systems (1) which is the absence of systematic disparities in health or in the social determinants of health between social groups with different levels of social advantage(2). Health inequalities are structural and systematic differences in health status between and within social groups in society. There is a difference between the inequality and inequity in health so that inequity is regarded as avoidable inequalities (3). The term health inequity has been recognized as a root cause affecting health and is closely related to social determinants of health (SDH)† including place of residence, race/ethnicity/culture/language, occupation, gender/sex, religion, education, socioeconomic status, and social capital requirements. Inequity in health is more important than other inequities because the health is the first prerequisite to achieve other capacities(4,5). Studies, for example, show that the richer individuals are healthier than the poorer ones(6). However inequalities do exist in health care (notably in access to care), they should not be considered as the principal cause of inequity in health status(7). In response to growing concern over the continuation and expansion of these inequalities, the World Health Organization Commission on Social Determinants of Health was established and made recommendations to develop and systematically monitor the equity in health and social determinants of health at the local, national and international levels. They may lead to design appropriate interventions and facilitate evidence-informed policy-making process(8). Monitoring health inequalities through producing appropriate evidence can promote accountability and continuously improve equity-oriented health plans including moving toward universal health coverage(9). Given the importance of the issue, various countries have initiated the development of such surveillance systems(10). Health equity surveillance systems include the analysis of groups in terms of socio-economic status, age, gender, race, ethnicity, residence and other key factors determining socio-economic advantages or disadvantages (11) The above list of factors identified may not include the underlying causal factors and pathways of health inequality from the developing countries perspective. As there are differences from country to country, addressing health inequalities may need country-specific indicators. Identifying causal factors at country level is essential for prioritizing policy interventions (12). The accurate selection of appropriate indicators can affect the proper and reliable measurement of inequality rate. General important considerations for selection the indicators include the cost of data collection, data quality issues, availability of data for monitoring at proper time intervals, cultural appropriateness, sensitivity to the policy interventions and the required technical capacity for the analysis(13, 14). Some countries use the World Health Organization health equity indicators. In Iran, the basis for development of health equity indicators was the Urban HEART (urban health equity assessment and response tool) indicators. Urban HEART, developed by WHO, is a simple tool and guide to identify health inequity in urban areas which was tested in some countries including Tehran (Iran)(15,16). In this regard, In Iran the responsibility of the development of health equity indicators was delegated to the Ministry of Health and Medical Education. To develop these indicators, several expert meetings were held and 52 indicators were determined using the Urban HEART and after several refinements. Some of these indicators are international and some other are based on the local circumstances of Iran. The indicators have been determined in five domains including health (20 indicators), human and social development (17 indicators), economic development (4 indicators), physical environment and infrastructures (7 indicators) and governance (4 indicators). In addition, appropriate practical classification variables to calculate were determined for each indicator. Data associated with 12 indicators will be collected using survey studies while data related to 40 other indicators will be gathered through the routine data recording system(14). To ensure the enforcement of the health equity indicators, they were announced to the relevant organizations after its approval. In order to plan for reducing inequalities, stakeholders should have sufficient knowledge and awareness of the issue of the equity in health and its indicators and reach a consensus about the system for monitoring these factors. It is necessary to clarify challenges and consequently relevant scientific and practical solutions can be applied using the international, national and local evidence. Objectives Given the importance of awareness of the health equity indicators and its implementation challenges and lack of study in this area in the country, this study aimed to investigate stakeholders perspective on equity in health and its 52 indicators in Iran. The results of the study can help policy makers to better understand the issue in order to effectively plan and implement the health equity indicators. Materials and Methods In this qualitative study, data were gathered through semi-structured interviews and the review and analysis of relevant documents including meetings minutes, working plans and working progress reports. The interviews were conducted using a topic guide developed according to a literature review and expert opinion. It was pilot tested using interviews with three policy makers and executives and based on their comments it was revised and finalized. The participants were given the information sheet and consent form prior to the interviews. After research ethics committee approval, interviews conducted in-person on a one-to-one basis after consent was provided by the research director and two trained colleagues. All interviews were recorded and later transcribed verbatim. A framework analytical approach was used for data analysis. Participants were selected using purposive sampling method and were policy makers involved in developing the indicators and executives responsible for implementing and calculating the indicators. A total of 23 individuals were invited, 8 of whom refused to take part in the study for various work-related reasons or the lack of willingness to participate. There were five policy makers and 10 executives. Among the executives, two were governors of major cities. Interviews continued until data saturation was reached and no new code was found. The focus of the policy makers’ interview questions was primarily on the process of indicators development and participation and interaction of various sectors in this process the developing indicators as well as steps of indicators development process. Executives answered questions mainly regarding their perception of the health equity and related indicators’ calculation and implementation processes. The member check strategy was used and the comments were incorporated in the final analysis. It helped to ensure that the findings were congruent with participants perceptions, beliefs and opinions. All the stages in the study were recorded to make it possible to track of each stage and clarify the procedures. Discussion The equity and equity in health are not only the issue of international interest but also have been considered in Iran development plans. Furthermore, committee on social determinants of health in the final report from the World Health Organization (2008) titled closing the gap in a generation emphasized on national and global health equity surveillance systems for routine monitoring of health inequity(8). The issue of stewardship in health equity is a matter of great importance. Health system need to lead by taking a stewardship role in supporting a cross-government approach that focuses on the social determinants of health and performing as catalysts to all society. The Health in All Policies programs of the European Unionand South Australia promote inter-sectoral collaborations to health equity (17). The establishment of a common language for health sector and other agencies is considered as an important challenge in its leadership. Gopalan et al. suggested that a lack of awareness among stakeholders restricted the inter-sectoral convergence on combating health inequities(18). In Iran, the Ministry of Health is the steward of health equity goals and it is suggested that a secretariat or an independent office be established for health equity. According to the definitions of equity concepts provided by the stakeholders, the difference between viewpoints is obvious and their perceptions on the main concepts of equity in health are different from each other. This study showed that many executives and some policy makers disagreed on key concepts of equity in health and the executives had insufficient information about the concept of equity in health as desired by the policy makers. In general, many executives considered the equity in health mainly as fair access to and distribution of health system resources. Also, Low study showed that access to health services alone is not sufficient to achieve equity in health(19). However city governors and medical science universities are executives responsible for implementing the indicators in the region, they lack sufficient attitudes and awareness towards the issue of equity in health. It seems that orientation programs by the Ministry of Health should be more comprehensive and with an aim of emphasizing a higher priority of the issue for executives. The establishment of these indicators requires capacity building, training and shifting the attitudes of the executives implementing this program. So training and improving the awareness of the key actors are main effective steps for the establishment of health equity indicators. Training and improving the awareness of executives are facilitated by providing regulatory requirements helping the decision-making. Beheshtian et al suggested that the Consensus-Oriented Decision-Making (COMD) model for more intersectoral collaboration and consensus among other areas can be used in Iran (14). After the development of the indicators and in the establishment step, interaction between politicians, policy makers and regulatory authorities is essential in order to establish these indicators. There are some challenges regarding the calculation of the health equity indicators in the country. However 40 out of 52 health equity Indicators are collected through routine system, investigation and survey are needed for remaining 12 indicators. The routine system itself needs to be reformed and improved including hardware and software improvements. Furthermore, the preparation and participation of organizations to change their statistics and reporting systems are also required. Therefore, gaining a wide intra and intersectoral participation is needed to collect data for the indicators and change statistical forms. This participation should be established at levels of policy makers and high authority officials. In addition to the above mentioned issues, creating the infrastructure for electronic data recording and defining access level may help to the establishment of the indicators. The establishment of indicators requires financing, training and empowerment of organizations employees, legal requirements, and finally a clear action plan. A report from the Pan American Health Network on the development of health equity indicators in Canada also cited the similar challenges such as the need for financial resources, being time consuming as well as limitation of sources of information (20). As the establishment of the indicators is in its the primary steps, so the executives responsible for implementing the indicators have not had the possibility for complete and necessary adaptation to ministry of health instructions and gaining more support for the executives, training them as well as laying the proper groundwork for calculation these indicators are obviously necessary. It is debatable whether these indicators show the extent of the health equity in the country. Many policymakers stated that the World Health Organization and international indicators provided the basis for the country indicators but some changes were made in them according to cultural and social conditions of the country. In this regard, an important point mentioned by the policy makers is that as these indicators had not previously been identified, so the development of them can be considered as a positive step and they will be revised in the future according to feedbacks from universities and other organizations. Braveman in his study argued that data utilization to develop interventions is far more important than data collection itself(2). The results of this study are in consistent with those of current study, because many policy makers argued that the establishment of these indicators can be helpful if appropriate interventions are developed based on information they provide. It is, therefore, necessary to specify solutions for using the indicators in decision making. Policy making for reducing inequity in health is too difficult because it is an intersectoral policy making requiring various areas and organizations involvement and this, in turn, demands the specification of common goals, integrated accountability and increased organizational responsibilities (14). Overall, the results of the study showed the inadequate awareness of stakeholders on equity in health, lack of proper infrastructure and insufficient support from stakeholders are the important challenges regarding the establishment of the indicators; these findings are consistent with those of a study by Gopalan et al(18). Limited access to some policy makers and executives was a limitation. A small number of the governors and executives were interviewed while there were more policy makers and stakeholders participating in the development of the indicators. Conclusion: As the establishment of the indicators is in its the primary steps, so the executives responsible for implementing the indicators have not had the possibility for complete and necessary adaptation to ministry of health instructions and gaining more support for the executives, training them as well as laying the proper groundwork for calculation these indicators are obviously necessary. The development of the indicators requires a shared understanding among policy makers and executives. As the attention has been focused recently on the issue, in addition to knowledge improvement, proper solutions with intersectional collaboration approach in order to tackle challenges should be considered. References: 1. Murray CJ, Frenk JA. Framework for assessing the performance of health systems. Bull World Health Organ 2000; 78(6):717-31. 2. Braveman P, Gruskin S. Defining equity in health. J Epidemiol Community Health 2003; 517:254-8. 3. Whitehead M. Whitehead M. The concepts and principles of equity and health. Int J Health Serv 1992;22(3):429-45. 4. Marmot, M. Achieving health equity: from root causes to fair outcomes. The Lancet 2007;370(9593): 1153-63. 5. ONeill J, Tabish H, Welch V, Petticrew M, Pottie K, Clarke M, et al. Applying an equity lens to interventions: using PROGRESS ensures consideration of socially stratifying factors to illuminate inequities in health.J Clin Epidemiol 2014;67(1):56-64. 6. Exworthy M, Blane D, Marmot M. Tackling health inequalities in the United Kingdom: the progress and pitfalls of policy. Health Serv Res 2003; 38(6 Pt 2): 1905–22. 7. Davidson R, Kitzinger J, Hunt K. The wealthy get healthy, the poor get poorly? Lay perceptions of health inequalities. Soc Sci Med 2006; 62(9):2171-82. 8. Commission on Social Determinants of Health. Closing the Gap in a Generation: Health Equity through Action on the Social Determinants of Health. Geneva: World Health Organization, 2008 .Available at: http://whqlibdoc.who.int/publications/2008/9789241563703_eng.pdf 9. Hosseinpoor AR, Victora CG, Bergen N, Barros AJ, Boerma, T. Towards universal health coverage: the role of within-country wealth-related inequality in 28 countries in sub-Saharan Africa. Bull World Health Organ 2011; 89(12): 881-889. 10. Cristina C, Caroline C. Can we build on existing information systems to monitor health inequities and the social determinants of health in the EU? Brussels: Euro Health Net, 2010. 11. Kelly PM, A. Bonnefoy J, Butt J, Bergman V. The social determinants of health: developing an evidence base for political action. Geneva: World Health Organization, 2007. 12. Eshetu, EB, Woldesenbet SA. Are there particular social determinants of health for the world’s poorest countries?.Afr Health Sci. Mar 2011; 11(1): 108–115 13. Wirth M, Delamonica E, Sacks E, Balk D, Storeygard A, Minujin A. Monitoring health equity in the MDGs: a practical guide. Center for International Earth Science Information Network, 2006. 14. Beheshtian M, Manesh AO, Bonakdar SH, Afzali HM, Larijani B, Hosseini L, et al. Intersectoral Collaboration to Develop Health Equity Indicators in Iran. . Iran J Public Health 2013;42(1):31-5. 15. Asadi-Lari M, Vaez-Mahdavi MR, Faghihzadeh S, Montazeri A, Farshad AA, Kalantari N, et al. The application of urban health equity assessment and response tool (Urban HEART) in Tehran; concepts and framework Med J Islam Repub Iran 2010;24(3):175-85. 16. Asadi-Lari M, Vaez-Mahdavi MR, Faghihzadeh S, Cherghian B, Esteghamati A, Farshad A. Response-oriented measuring inequalities in Tehran: second round of Urban Health Equity Assessment and Response Tool (Urban HEART-2), concepts and framework. Med J Islam Repub Iran 2013;27(4): 236-48. 17. Baum F.E, Bà ©gin M, Houweling T.A, Taylor S. Changes not for the fainthearted: reorienting health care systems toward health equity through action on the social determinants of health. Am J Public Health. 2009; 99(11): 1967–74. 18. Gopalan SS, Mohanty S, Das A. Challenges and opportunities for policy decisions to address health equity in developing health systems: case study of the policy processes in the Indian state of Orissa. Int J Equity Health 2011; 10(1):55. 19. Low A, Ithindi T, Low A. A step too far? Making health equity interventions in Namibia more sufficient. Int J Equity Health 2003; 2(1):5. 20. Pan-Canadian Public Health Network. Indicators of Health Inequalities. Pan-Canadian Public Health Network. Pan-Canadian Public Health Network. [cited 2014 Sep 24]; Available from: URL: http://www.phn-rsp.ca/pubs/ihi-idps/pdf/Indicators-of-Health-Inequalities-Report-PHPEG-Feb-2010-EN.pdf Acknowledgements The authors would thank people who participated in this study and Iran University of Medical Sciences for financial support. Financial Disclosure There is not any conflict of interests. Funding/Support This work was supported by Iran University of Medical sciences [IUMS/SHMIS-15748]. Authors’ Contributions Ravaghi and Oliyaee Manesh jointly designed the study. Arabloo and Goshtaei collected the data. Ravaghi, Goshtaei and Oliyaee Manesh contributed to data analysis and interpretation of the results. Arabloo, Goshtaei and Abolhassani prepared the manuscript. All authors read and approved the final manuscript.

Executive Summary of AcuScan :: essays research papers

Executive Summary This is a summary on the current situation at AcuScan concerning the development of the iScanner for use in the retail industry. It will summarize the situation, discuss key points and recommend actions that can be taken to address the issues described. The main problem is that we have failed to improve or maintain market share through the development of new products. Because our overall 40% market share is declining, the company faces declining revenues based on the sales of the iScanner. Despite making tremendous cost-cutting efforts, AcuScan is still in a short-term budget crisis. To regain our position as a market leader, AcuScan must develop the software for using the iScanner in retail industry by the year’s end. Secur-A Corp is reported to be in the process of developing similar software, so we must act quickly. Creating a new product, while at the same time making budget cuts, has created an internal crisis among the staff. The Chief Engineer of Product Software is especially adamant about not being able to get the job done in a way that insures quality by the deadline. I have proposed to Kelly that after looking for ways his staff can work more efficiently, we hire contract workers to do the work that his staff is unable to complete in a timely manner. I also proposed that he and his staff decide which tasks need to be completed by the contract workers. I plan to keep in close touch with Kelly to keep him advised about the work, and I will report to you any further problems. I am rather confident that we will be able to meet our deadline as long as we are responsive of the concerns of department heads and staff and help them with problems as they arise.

Brave New World by Aldous Huxley

In the novel Brave New World by Aldous Huxley, one of the main characters that is presented to the readers is Bernard Marx. What this character’s name brings to the mind of the reader, and surely the intention too of the author, is the historical figure Karl Marx who wrote the book Communist Manifesto. In the book, Bernard Marx is described as a hypnotic specialist at the Hatchery and Conditioning Centre in the modern world. He belongs to the Alpha caste though his physical features do not fit him to be in this caste.Those who are Alphas are known to be tall but Bernard is rather short. Furthermore, he acts as an outcast amongst his social group. As Alphas are expected to be sporty in their manner and orientation, he does not participate in this leisure activity. This is the reason why he is seen as odd by the people around him (Huxley 38). As the novel progresses, the reader sees Bernard Marx as a loner and unhappy. The social group that he moves around with sees him as a reb el and a non-conformist. He questions the system of the World State and wants to fight for his individuality.In some ways, he is seen as someone who always wants to go against the system. He can be termed as a protestor to put it in another way. But this thing changes when one time he goes to the Reservation (Huxley 45) where he meets John who is considered a savage by the World State. When he brings the latter to London, he instantly gains a popularity he never experienced before. He becomes outgoing and happy to participate in the activities in the World State. This participative attitude of Bernard Marx in the new society will only changed when John refuses to be part of his agenda.The reader sees again that Marx returns to his old, protestor way. The World Controller sees that he has not changed and in the end he is thrown out of the World State to be deported to Iceland (Huxley 98). What can we see then in the character of Bernard Marx? We can conclude then that the protest att itude of him is not borne out of intellectual or of moral form in origin. The best term that we can see to it is that his act of his being a non-conformist among his social group originates from a personal and social one.I make this conclusion to the nature of his character since his being alone surely must have stemmed from his being short as an Alpha. As mentioned above, Alphas are designed to be tall but Marx is not. His manifestation of being a protestor comes from his anger of being not accepted fully by his peers, of being different from them. So in effect he sees no point of participating in all the activities that are expected of his caste. When an opportunity is presented to him that he can be accepted and even become popular, his attitude towards the World State suddenly changed.â€Å"Success went fizzily to Bernard's head, and in the process completely reconciled him †¦ to a world which, up till then, he had found very unsatisfactoryâ€Å" (Huxley 66). This opportu nity is when he brings John to London and quickly gains popularity (Huxley 66). Still, Marx goes back to his old ways when the chance to become popular slips to his hands upon John’s rejections of his agenda. In the end, he is deported to Iceland against his protests. The moral of the character of Marx then is that he is a hypocrite in his being a non-conformists and critic of the ways of the World State.His criticism of the system in the society that he lives in stems from the rejection he gets from his being physically different from his social group. We can thus sum up that the flaws that he sees in the World System are not genuine. The order of the World State will be a defect as far as Marx is concerned up until he is not accepted as part of his social group. When this has changed it is only then that he can truly feel a part of the new society. Works Cited Huxley, Aldous. Brave New World. New York: HarperCollins Publisher Inc. ,1998 Brave New World by Aldous Huxley The Brave New World, written by Aldous Huxley, is an extemporary novel that deals with moral problems like the problem of how to achieve happiness in the best possible way. The novel includes the poignant role of the government in achieving this goal and the drawbacks it can create in a society. This paper will thoroughly discuss both side of the moral problem and how it affected the society as a whole. More often than not, a novel is a little interpretation and portrayal of an author’s life, experiences and knowledge. It would be hard not to incorporate his/her own opinions and thoughts inside his/her work.An author can go as far as draw sound arguments to defend his/her point, and all this can be easily done by describing his/her characters, the setting, plot, and so on. Aldous Huxley started writing the Brave New world in 193, and by that time, technological innovations as well as world-changing events were taking place, and society was at its total make over. From its prim itive way of life, the world was developing and advancing to a new and completely modern era. The event as a whole didn’t escaped the attention of Huxley, and all of this, no doubt, affected him, and resulted in one of the most powerful, thought provoking novels.His visualization of the world in the near future, maybe decades or centuries from the time he wrote his work, gave deep insight of the unfavorable would-be lifestyle of the world, which may not be so far from today’s way of life. It is Huxley’s ability to portray the future that uses his current observations that made his novel a classic, affecting not only the people of his time, but also the latter societies. Inside the book, Huxley introduced a moral problem. He presented a society that was under the total power of a manipulative government.Due to advanced scientific techniques, people live in constant happiness. Here Huxley wanted his readers to see an important question, should the state of happine ss be the prime goal of mankind, or should free will, at the expense of contentment, be the key. The Brave New World’s government chose the former, to keep its people happy while ensuring stability. It was the director in the novel who explained the mechanics of the World State. He explained that tremendous amount of conditioning is necessary to unfold the secret of happiness, and that you must like what you are doing.Making people like both their pursuit and the way of life the government wants them to do is the goal of all the conditioning. One of the defining moments of the novel was when the lead character, John, entered the story. The other side of the argument was brought into account. John, who came from a very different society, sees the World State in a very different way. Because he had grown up in a society where the government doesn’t have total control over its citizen, he sees how the citizens were denied of the truth of literature, history, emotion, and most of all, humanity.It was when he met the world leader, Mustapha Mond, that he was able to adamantly point his observations. But even though he understood John’s view, the leader refused to listen and continued to argue that it must be done in order to achieve happiness and stability. These aspects are much more important compared to humanity, the leader continued. He insists that social stability requires the sacrifice of the things John values. As long as people are happy everything will be fine. John protests that, without these things, human life is not worth living, even with happiness.Mond explains that the government’s plan is foolproof, with the help of soma, a drug that offers a way to deal with unpleasant emotions that lead to inefficiency and conflict, and keep people from trying to change the way they live. As everyone knows, utopias strive to work as perfection; therefore it is completely necessary for these societies to have moral values. The society i n Brave New World lacks values like promiscuity, over-population, use of drugs, and elimination of religion and family, creating a Dystopia. During the entire novel, Huxley makes evident that these values are missing in the society.As a peculiar characteristic the World State eliminates the word family. This word doesn’t exist for the people anymore, meaning that there are no parents or siblings; a person is created in an assembly line in mass production, creating 96 persons in one blow (Huxley, 6). This civilized society lives in a world where science and technology play an important role. Religion is replaced with God does not exist anymore (Huxley, 230). Instead of attending church on Sundays, people attend to services where morals are not learned at all. They just get accustomed to having sexual intercourse or taking soma.The government not only controls how one thinks, but it also controls one’s physical usefulness to his society. By genetically engineering oneâ⠂¬â„¢s body, the government can make it infinitely useful to itself. To make that one body feel no pain, to make the soul feel like it belongs to the society, and to make the mind open to any ideas is a vital asset for this government. The people are not always worried about death and can always relax in this utopian society since other people pleasure them, and with a society of happy people, the government never fears a revolt.One aspect of control that is touched upon from the beginning of the novel until the end is the control of the population birth and growth. As a way to maintain the society’s motto of Community, Identity and Stability, the number of inhabitants is managed through the artificiality of the brave new world’s use of technology. In the first chapter of the novel, the reader is introduced to the process of creating humans in this Utopia. The fact that machines do what is done by human reproductive systems shows how science has dominated over man in t his world.The actual process of creating humans is made possible through the use of a single ovary, which makes thousands of identical people. Since these people are similar in appearance, thought and relations, they are able to live in perfect harmony with each other. Huxley uses Lenina and Fanny, two of his female characters who are distant relatives from the same ovary, as people who get along well and are on the same page on issues concerning Utopian lifestyles. This is how the government of Utopia, made up of only ten controllers, is able to maintain stability among its people.Since stability is part of the brave new world’s motto, it is a crucial deal for the government to uphold. Something else that is controlled by government and science is any thing to do with marriage, romance and pregnancy. It is a rule by the government for everyone to freely have sex with anybody at anytime they want. It is against the rules of the Utopia to date anyone regularly. Government forb ids anyone to go towards thoughts of monogamy and romance because they require too much time and bring no stability to life.Science controls the aspect of pregnancy in the way that females have to wear contraceptive belts while having endless sex to avoid any pregnancy. Pregnancy is controlled because it brings pain and goal of the brave new world is to have happiness. Government and science restrain Utopia’s citizens from what is part of being human. In Brave New World, there are no feelings and emotions whatsoever because they are refused by the dominating authority which gives out the soma that allows people to do whatever they please without being guilty about it.But they live their lives with ignorance. Lastly, literature is another characteristic that makes this society a dystopia. It is completely banned for anyone to read because it brings ideas to people, creating individual. They are more focused in a society that consumes and every time is buying new things. Even M ustapha Mond, one of the new worlds' seven controllers, admits that the world they inhabit is far from perfect. Mond says to John those who have the ability to write the laws also have the ability to break them (Huxley, 248).Even the seven controllers of the World State break the rules by reading books. It is evident that even though they want to create a new world where the past is completely forgotten, they still want to read and learn. The truth is that by knowing about the past societies learn to not make the same mistakes again. Much of Huxley’s vision is already reality today. We are already seeing the development of the fundamental principles evident in the novel with things like cloning, government control, drugs to make us happier, and being a consumer based society.Now, when a scientific breakthrough is discovered, people will refer to us coming closer to the brave new world. We are more conscious of changes that technology brings upon us and try to recognize its po tential threats. This is the reason why there are always opposing groups of certain advancements, trying to see not only the pros but also the cons of new technology. Huxley therefore hasn’t so much aided in the creation of new technologies, instead he has made us guarded or worried about these advancements.The book helped the population see a future, which may not be so appealing, compared to many other futuristic novels, which portrayed a much happier lifestyle. Huxley’s upbringing, along with the world events going on around him, was contributory in some ways to the writing of Brave New World. More significantly however, are the effects the book has had on modern society. Not so much, that people have consciously taken ideas from the book and tried to implement them, more that the ideology has served as a gauge against which we judge the advents of technology.In conclusion, science has become a major part of this modern life. In Brave New World, Huxley predicts a wo rld dominated by government and science and how the two aspects influence humanity. Although I lack the understanding of a society of this New State, I can picture out what might happen to the world if the government makes this drastic operation. I can see a world deprived of passion and love. Everything movement is mechanical. Every reaction will create confusion. I can see them asking themselves, how will I react when I accidentally do something wrong? How will I love someone?The questions somewhat made me laugh, but at the same time made me sad. The prospect of having the same fate as anyone else frightens me. It’s as if we’ll all be buried inside the same caskets. I don’t like the idea at all. And by creating people massively, it automatically eliminates individuality. Parents are not necessary to raise a person, but they are actually wrong. Education starts at home, something very true in the real world. So if there isn’t any home or family, how can a person be raised to be a well-mannered adult? Reference Huxley, A. (1975). Brave New World. Markham, Ontario

Genesis and Oedipus Rex Essay

As if peering into a glass of time, Genesis and Oedipus Rex seemed to have made me travel back through realization to make me reassess how I understood these early texts. Initially, the two texts seem to have nothing in common. Genesis, as the term implies, talks about the beginning, focusing on the creation myth and proceeding to the stories about the first people of the world inclusive of its genealogy and progress towards becoming a nation. Oedipus Rex, on the other hand, presents a snippet of a King’s life including his musings, fears, decision-making and actions. One seems to be solely about Theology and the other about politics. I realized later though that both are actually part of a bigger picture – the culture of Western Civilization. Women’s role in Western Civilization is generally limited to home, maternal and family life. Sarai, for instance, has the right to command her home. This was shown in the part where Abraham told Sarai â€Å"Your maid is in your power. Do to her whatever you please. † (Gen. 16: 6). Similarly, Jocasta’s entrance in Oedipus started as a manner of putting order in the house. During this time, Creon and Oedipus were arguing because of Creon’s assumptive claims on the misfortune of their land and the solutions. Women’s role as wife was emphasized in Sarai’s inability to conceive. Stressing this, accounts for another aspect – the importance of children in a family. It is apparent that women should bear children for their husbands and perhaps it is this tragedy that pushed Sarai to suggest for Abraham to take Hagar, her maid, and have children through her. There were also numerous instances where Abraham asked God when Sarai would conceive a child proving further how important children are not only for the â€Å"order of things† but also for the family. If you’ll also follow, when Hagar, pregnant of Ishmael, was sent away by Sarai, an angel advised Hagar to return. Later, when Abraham sent both Hagar and Ishmael away, God did not only provide and help Hagar and Ishmael survive the desert but as promised to Abraham, blessed Ishmael’s generations. God’s participation in this picture further asserts the value of children in â€Å"His design. † For Jocasta, another aspect of a woman’s role as wife was highlighted. Her’s focuses on enlightening, empowering and giving advise to her husband at the time of extreme doubt. This was shown at the time Oedipus was worried and earlier – when she gave up the baby Oedipus – to prevent her husband’s fate. Women also have a role in politics, but this is limited to their symbolic purposes. Jocasta is queen to both King Lauis and Oedipus, symbolizing her continuous devotion to her land, to serve as mother of the kingdom, rather than co-ruler. Much in the same way as Sarai is called â€Å"mother of all nations,† for she is the wife of Abraham, and from her, will spring the roots and generations to come. Men, on the other hand, have a critical role in Western Civilization. During this time, society was highly patriarchal and men, through the characters, Abraham and Oedipus, reflect not only the culture of their times, but also, the thoughts and patterns of morality and humanity. First instance was how men treats women. Twice within the sample text of Genesis did Abraham introduce Sarai as his sister for fear of being killed due to Sarai’s beauty. From this we can assume that one’s wife can be claimed by killing her husband, that a woman can be â€Å"won† or â€Å"taken† by force, else the occurrence and/or rampancy of adulterous relationships. Perhaps it is for this reason that adultery is called a sin and that anyone who commits such will receive misfortune – just like what happened to the land of Egypt and the land of Gerar when the rulers took Sarai as their queen/wife. It is a bit different in Oedipus because here, it is depicted that women can be passed from one king to another, for Jocasta was the dead Lauis queen and was queen to Oedipus, the present king. Although there are other factors involved, fact remains that women can be passed on, as it appears fit. Second instance was how men treats their nation. In the story of Sodom and Gommorah, Abraham considered the welfare of the people that he took the courage to technically, bargain with Yahweh – that the city must have some goodness left in it, that it cannot be destroyed with the faithful in it. From fifty people, he was able to ask God to spare Sodom if there are 10 faithful people – and sad to say, there wasn’t. Oedipus form of atonement in consideration of the welfare of his land is in a way like this. He has chosen to blind and banish himself from the land which he has done injustice to – killing its ruler and sleeping with his own mother. Third instance is in the way men carries out their decisions. As leaders, both Abraham and Oedipus consider civility and reason before acting upon it. Abraham, for instance, took into account the fact that his and Lot’s herdsmen cannot live together and so decided to separate with his brother so that Lot and his herdsmen can pursue their own future as he goes to the opposite direction. Much in the same way when Oedipus confronted Creon and in spite of his suspicions and doubt, set aside his fears and objectively pursued the issue Creon told him. He has called upon all the links mentioned upon him, the slave, shepherd and messenger and carefully inquired details about what happened. He did not inject ideas but rather, took the facts they offer and connected the events in a string, used his reason and acquired the truth of the matter – even if it means the realization of his fears. It is quite noticeable though that the fatalistic and monotheistic belief patters are evident in both texts. Abraham follows the will of Yahweh while Oedipus yields to Apollo. Both also take part in atonement of mistakes, Jocasta’s suicide and Oedipus’ decision to blind and banish himself is an example. Offering sacrifices is another. There is one difference though. In Genesis, Abraham is able to talk to Yahweh and He answers him directly. Apollo has no voice in Oedipus except through the mouths of the oracle or the seers. Conversation with divinities was possible in Genesis while it is not in Oedipus. Emphasis on human nature is also clear in both texts. Abraham, although a man of faith, has always been free to choose on what to do. Such with sleeping with Hagar and accepting the consequences of his actions, such with separating with Lot and bargaining with Yahweh to save Sodom and Gommorah, such with traveling and moving on forward to various lands, even if it means pretending to be a brother to Sarai, or if it means having to sacrifice his only son for his God. Much in the same way as Oedipus, who has been played by fate, yes, but wittingly, listened and pursued truth as it was told by â€Å"witnesses† – living proofs of people’s actions. He has admitted that it was his own decision – not moved by any God – to strike Lauis for he was at a raging disappointment, much in the same way as it his own decision to blind and banish himself from his land – to punish himself for his crime and for causing his kingdom, misfortune for his actions or his curse. Similarly, Jocasta’s action to commit suicide, as punishment of her mistakes. A simple truth and belief carried across times, even today, that such assessment or review can make me think like this†¦ good only begets good. And in the end, no matter how impossible, or how human and unlikely, Justice prevails. Time teaches souls that wander barren of moments but that of voices from the past read through the lips of beings like me. References: Catholic Biblical Association of America (1971). The New American Bible. Washington: Catholic Publishers Inc. Pickering, James H. & Hoeper, Jeffrey (1990). King Oedipus by Sophocles, translated by William Butler Yeats. Literature. New York: Macmillan

Volunteer in a Elementary School Essays

Volunteer in a Elementary School Essays Volunteer in a Elementary School Essay Volunteer in a Elementary School Essay and making photo copy, collating, packet preparation. So why should we volunteer? We should volunteer to support our communities and world. Let me tell you what my experience and opportunity were while I volunteer at my child elementary school, and I hope this will persuade you to volunteer anywhere. The main reason I volunteer at Irving Elementary School was to get experience in working with children’s which seemed very interesting because kids have different reactions to an environment with other people. For example, the mixed emotions children have during their first day of school, it is hard to break the tension building inside them without making them cry or scared. Next, working with children has left an indelible mark in my memory. My experience as a community service volunteer, where I was assigned to do recreational activities for children ages 3-10 year old, much of the wonderful experience is caused by the diversity of the environment when working with young ones for I discovered that a child’s sense of imagination is gives out fresh ideas that positively influence a person’s outlook in life. Most of the time, the varying moods of children tend to start an argument over petty things nevertheless I really enjoyed such service because the experience made me feel young again. The second, reason why I volunteer in an Irving Elementary School was to show my daughter that I am interested in her education, and because this will give my daughter a positive message that I am considering her school a worthwhile cause. Also, volunteering is a huge resource and support for the school community while its showing the kids the importance of participating in the community. Meanwhile volunteering in my daughter school will gain a first- hand of my daughter daily activities and some insight into trends and fads of school life that will help me communicate with my daughter as she grows and changes. Beside, volunteering at my daughter school gave me the opportunity to go on a field trip, which this gave me the chance to get to know all of the kids in her class. This proved to be a blessing to carrying on meaningful conversation with my daughter about her peer interactions. As well, volunteering at my daughter school gave me a basic idea of what my child should be learning and mastering. It also, exposes me to children of different backgrounds and incomes. In addition, your learn more about your child school district and will be able to knowledge it when it comes to school board decisions. Not only, will you gain the trust of children you help, you will gain the respect of the teacher who so desperately need all the help they can get. You will see the needs of each classroom and know invariably what they are lacking in tools and resources to be the best place for the children to learn. Field trips and excursions outside their school can also enable you to give the children a better grasp or what life is like outside of school and home and proper behavior to display when in public.

Van Hilleary essays

Van Hilleary essays In this years governor race, there are two candidates, Democratic nominee Phil Bredesen, and Republican nominee Van Hilleary. Both born into money and both good business men, and a good business man is what we need this term to help balance are state budget. Van Hilleary was born in Spring City, Tennessee in 1959. He first moved out of Spring City to attend college. He went to the University of Tennessee where he received his bachelors degree in business administration in 1981. Then nine years later he went back to school and got his degree from Cumberland School of Law at Samford University in Alabama. After he received his degree in 1981, he joined the United States Air Force. Hilleary served two volunteer tours of duty in the Persian Gulf, in 1990 and 91, during Operation Desert Shield and Desert Storm. While in the Persian Gulf theater operations, Hilleary was a navigator on C-130 aircraft where he flew over 24 missions. He earned six medals and the Outstanding Unit Ribbon. He still remains in the Air Force Reserve with the rank of Major. After Van Hilleary finished his active service in the military he began to work. He became the director of planning and business development for SSM Industries. Which was a family owned textile manufacturing business in Rhea County, since 1980s. Just two months after arriving in Washington, in 1995, Van was the primary sponsor of one of the four term limits proposals considered by the House of Representatives. That was the first time since 1897 that a first-term Congressman brought a proposed Constitutional amendment to the floor for a house recorded vote. Hilleary was chosen Later that year, by the National Review magazine as one of the top 10 conservative newcomers to Congress. He has remained the congressman of the 4th district since 1994. ...

7 Great Online Research Resources for Writers

7 Great Online Research Resources for Writers 7 Great Online Research Resources for Writers 7 Great Online Research Resources for Writers By Mark Nichol Doing research to strengthen a current story or article, or to get ideas for a new one? You can google all you want and hope for a productive return, but to engage in a focused search, try one of these mediated experiences instead: 1. Infoplease From current events to reference-desk resources to features about history, this site puts a remarkable array of information within reach. Guides to the nations of the world, timelines of political, social, and cultural developments, special quantitative and qualitative features like â€Å"The Worlds Most Corrupt Nations† and â€Å"Color Psychology,† and more cover just about anything you could think of. 2. The Internet Public Library Unlike the other reference centers on this list, the IPL is a portal to other Web sites, brimming with directories of links in topics like Arts Humanities. (Dictionary of Symbolism? Check. Ask Philosophers? Right. Legendary Lighthouses? We got your legendary lighthouses right here.) If you need background information on either fiction or nonfiction projects, stop by for a visit I just dare you to leave without a digressive click or ten. 3. The Library of Congress The online presence of the official repository of knowledge and lore of the United States is an indispensable resource not only for nonfiction writers seeking background information for topics but also for fiction authors seeking historical context for an existing project or inspiration for a new one. 4. Merriam-Webster Online The publishing world’s dictionary of record is at your fingertips online as well as in print, with a thesaurus and Spanish-English and medical compendia, to boot. The dictionary also includes refreshing can’t-we-all-just-get-along usage commentary. (That and which, as pronouns that introduce restrictive clauses, are interchangeable.) You’ll also find video tutorials on usage from dictionary staff, a Word of the Day feature, word games, and a variety of language-watch features. 5. Refdesk Refdesk.com, like Infoplease, is a clearinghouse for online research, with links to headline news and timeless information alike. You can easily get lost in its Daily Diversions directory, which includes links not only to humor, games, and trivia sites but also to more respectable resources like DailyWritingTips.com (whoo!). If you have a question, chances are you can find the answer on this site. 6. Snopes How do you verify that this self-described â€Å"definitive Internet reference source for urban legends, folklore, myths, rumors, and misinformation† is what it claims to be? Go to the site and find out. The fine folks at Snopes.com will set you straight about any one of hundreds of posts each with a prominent judgmental icon, and commentary to back it up about that one thing you think you remember you heard about that one thing. (For example: Posh comes from an acronym for â€Å"port out, starboard home† the ideal respective locations for accommodations on a luxury liner right? Cue the buzzer. Bogus.) TruthOrFiction.com is a similar site. 7. Wikipedia This user-generated online encyclopedia got a lot of flak a few years ago for some inaccurate information posted by someone with a grudge, but that was an isolated incident. Also, many sources warn against using Wikipedia as a primary source for research. That said, don’t hesitate to avail yourself of the wealth of information available on the site much of which is written by subject-matter experts in the field in question. Then click on one of the online sources linked in the footnotes, or take your search to one of the other sites in this list. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Freelance Writing category, check our popular posts, or choose a related post below:Grammar Test 1Writing the Century45 Idioms with "Roll"

International criminal law Essay Example | Topics and Well Written Essays - 2000 words

International criminal law - Essay Example urder or conspiracy to kill members of a particular group with the aim of eradicating that group in totality.1 For genocide to qualify as a crime it must have two elements namely; the physical element and the mental component. The physical component involves committing five acts that are stipulates in Article two of the Convention that include; forcibly transferring children of a particular group to another one, killing members of a certain group, imposing measures or rather sanctions that are of the intent of hindering births within a particular group and causing mental and bodily torture to members of a group. The mental element is primarily based on the intent to destroy partly or in whole a religious, national, ethnic or racial setting. 2 In order for a crime to be regarded as genocide, it has to satisfy the provision of the two elements to make the perpetrators culpable under the internal criminal law. Both factors are crucial in forming the premise of genocide as a crime since none of them is independent, and thus they have to be satisfied to substantiate the crime. 3 Article three of the Genocide Convention outlines five distinct acts that are punishable in the context of the crime of genocide. These acts are as follows; complicating in genocide, attempt to commit genocide, genocide, direct and public incitement to commit genocide. When the actions outlined in this article are combined with the actual acts described in Article two of the Convention the result is the crime of genocide. Under the Convention of Genocide, the law protects four particular groups whose execution should amount to genocide. A religious group involves one whose members share common religious practices and beliefs. An ethnic group is that whose members can be identified by a common language or any other cultural identities. A racial group is primarily people who can be defined by standard physical characteristics for instance; skin colour. A national group is composed of individuals

Prada Brand Management Assignment Example | Topics and Well Written Essays - 3500 words

Prada Brand Management - Assignment Example As detailed from its actual output, with Prada there is a need for the combination of creativity, innovation, fashion and fresh idea of what prestige is all about. This shows the target market niche how Prada seeks to be differentiated. The brand believes that there could be no limit to a man’s imagination, leading to the emancipation of actual product that suits the need to be updated with the latest trends in fashion designs. Now that exactly what makes this brand cool. For Prada, variety is necessary, but the bottom line of it comes with the idea of the culture of fashion, creativity, prestige, and innovation. Combining these ideas produces a cool fashion with luxury and elegance, exactly what Prada has done for years. ...â€Å"The Prada brand targets an international customer base that is modern, sophisticated, attuned to stylistic innovations, and expects craftsmanship of the highest quality.† Prada also expresses the fundamental idea of exclusivity as it promotes the benefits of redefining the norms and styles and unparalleled craftsmanship. These promote essential values that are actually unique to Prada, making it remarkably cool from the subjective standpoint of someone else. What might have made Prada one of the coolest brands in Europe is its ability to produce something essential that is new at the right time, exactly when there are prevailing needs for it. Something cool from this point of view is the ability to create latest and fresh innovation that has yet to explore the prevailing market needs. Prada is good at doing this stuff and which is a vital activity that it masters through time. Prada may exactly be the coolest brand in the fashion industry today, but that never stops then to grow more from there. The brand has now become one of the respected brands and benchmark for fashion around the world. Why wait for long? Try Prada today, for your need of a cool fashion with an edge and a touch of luxury and elegance.  

Environment issues in business subject Essay Example | Topics and Well Written Essays - 2000 words

Environment issues in business subject - Essay Example The responsibility of an organization for its activities that it has performed and decisions that has been taken which has an impact on society and its surroundings. The Social Corporate Responsibility ensures that the company must undertake sustainable development and should have care for the health and welfare of the society. It makes sure that the company should abide the applicable law and should adhere to the international norms and behavior (Australian Government 2012). The aim to create global standards is to minimize the impact of an organization’s decisions and activities on society and the environment. It is the commitment of the industry to manage health and safety of its workers while pertaining to care for environmental and economic issues and to publicly report the progress of the industry. It also focuses in delivering the shareholders value and to cover the expectation of their shareholders. These norms have been defined by the principal industry body known as the Minerals Council of Australia (MCA) which is responsible to look in to the matter of Mineral industries and monitor their operations. However, if industries do not adhere to the principles outlined by the global body then companies might pose serious threat to the overall community (Australian Government 2012). The reporting of CSR activities is the new approach amongst different companies because it addresses issues for the society’s well-being. It can have an impact on the performance and the goodwill of the company which is a greater concern for its stakeholders. It outlines priorities of the company and its stakeholders. It is considered to be an accountability practice for firms that are willing to improve their performance and profitability. In new ways, it is considered to be a marketing strategy to grab attraction of audience (Alfonso 2011). There are numerous social and environmental factors that results in the criticism of the

Discussion Board 3-1 Essay Example | Topics and Well Written Essays - 250 words - 1

Discussion Board 3-1 - Essay Example This includes cultural issues, past abuses, education background, occupational functioning, religious factor and recent marital stress. Psychological factors form a wider net of client’s mental health; hence, these themes tend to influence the clinicians by their theoretical orientation (Allan Tasman, 2013). These factors include patients; Behaviors pattern is a critical theme that encompasses both positive and negatives changes in behavioral patterns of a client. The clinicians should note the self-destructive behavior like mood lability and anxiety. An interpersonal relationship is another theme, in this grouping the clinicians evaluate the patient’s stableness in maintaining a relationship with peers, workmates and even at the family level. The clinician also explores the sexual relationship and the intimacy of the patient. The relationship with the interviewer is a key theme as the attitude towards the interviewer from the patient is evaluated. This will extrapolates patterns in patient’s life towards other relationships (Allan Tasman, 2013). Biological themes that include the patients both psychological illness and medical illness provide clinicians with an in-depth perspective of the patient. Some of the mental illness may be of genetic in

Assignment Example | Topics and Well Written Essays - 250 words - 98

Assignment Example This scenario may, however, fail to materialize. One of the factors that may lead to the failure of this mechanism is loss of fluorescence. The exact origin of signal loss has not been established, but tentative explanations have been given. A mechanism that could explain this is the slow degradation of surface ligands and coatings, when they are in body fluids (Gao, Cui and Levenson). This issue may be resolved by continuous laser excitation which corrects the surface defects. The process of imaging using CdSe quantum dots capped with ZnS may also fail due to the light type used during imaging. The orange/red emitting QDs used are not optimized for tissue penetration. The QDs are also not optimized for imaging sensitivity. The mechanism associated with failure in this manner is the lack of capability of deep tissue imaging by this kind of light. To prevent failure in this manner, it is advisable to use far-red and near-infrared light. This light should be in the spectral range of 650-900 nm. This wavelength is separated from the absorbing peaks of water and blood. For this reason, the tumor imaging sensitivity will be improved y at least tenfold (Gao, Cui and Levenson). Another factor that may cause the failure of this process is the toxic nature of CdSe QDs under extended periods of illumination by UV radiation. Radiation by UV dissolves the semiconductor particles causing the release of cadmium ions into the medium. Cadmium ions are toxic in nature. This may be avoided by the use of QDs with a stable polymer protection layer (Gao, Cui and Levenson). The stably protected QDs are non-toxic to cells; they affect neither cell division, nor ATP production. Certain issues have to be addressed for the CdSe quantum dot-based cancer imaging to be successful. The researcher has to ask questions that include: Is the mode of imaging economically viable basing on the

Essentials of Customer Service Improvement for Leisure Customers Dissertation

Essentials of Customer Service Improvement for Leisure Customers - Dissertation Example Managers are an important part of the hotel industry, especially food managers; they are essential for improvement in their relevant field. Their suggestions should be considered and implemented if possible as they are very much related and close to the task. We looked at latest technologies such as the internet and email, and suggestions of getting the advantage of these prevalent technologies will be provided to the leisure customer for earning more profit and giving them extra ordinary service all times, so that retention of old customer may be possible as the retention is more important then acquiring new customers.   The future of the hotel industry customers and how the luxury hotels can improve their customers will also be reviewed in the paper. With the help of good customer service we can boom up hotel business, as this business is client based business that grows steadily. If good service is not adopted it may provide harm to the business to the extent. Good customer serv ice has effects on the hotel business; we do not need the help/services of mathematician to judge the impact of good service on the hotel business. Suppose if some clients have positive experience in terms of customer service in a hotel, they will talk about their experience and praise the services of the hotel, which will work as mouth advertisement for the hotel reputation and goodwill.   The use of words please, thank you with a smile on your face will make the customer happy which he will tell to his family members and friends.

Assignment Example | Topics and Well Written Essays - 250 words - 98

Assignment Example This scenario may, however, fail to materialize. One of the factors that may lead to the failure of this mechanism is loss of fluorescence. The exact origin of signal loss has not been established, but tentative explanations have been given. A mechanism that could explain this is the slow degradation of surface ligands and coatings, when they are in body fluids (Gao, Cui and Levenson). This issue may be resolved by continuous laser excitation which corrects the surface defects. The process of imaging using CdSe quantum dots capped with ZnS may also fail due to the light type used during imaging. The orange/red emitting QDs used are not optimized for tissue penetration. The QDs are also not optimized for imaging sensitivity. The mechanism associated with failure in this manner is the lack of capability of deep tissue imaging by this kind of light. To prevent failure in this manner, it is advisable to use far-red and near-infrared light. This light should be in the spectral range of 650-900 nm. This wavelength is separated from the absorbing peaks of water and blood. For this reason, the tumor imaging sensitivity will be improved y at least tenfold (Gao, Cui and Levenson). Another factor that may cause the failure of this process is the toxic nature of CdSe QDs under extended periods of illumination by UV radiation. Radiation by UV dissolves the semiconductor particles causing the release of cadmium ions into the medium. Cadmium ions are toxic in nature. This may be avoided by the use of QDs with a stable polymer protection layer (Gao, Cui and Levenson). The stably protected QDs are non-toxic to cells; they affect neither cell division, nor ATP production. Certain issues have to be addressed for the CdSe quantum dot-based cancer imaging to be successful. The researcher has to ask questions that include: Is the mode of imaging economically viable basing on the

The Galapagos Islands Essay Example for Free

The Galapagos Islands Essay The Galapagos Islands were first inscribed as a World Heritage site in danger in 1978. This was extended in 2001 and they were again inscribed in June 2007. The islands are found on the Pacific Ocean, 1000 kilometer from the South American continent, they are in Ecuador. They are 19 islands which lie on equator so their seasons vary very little. They have been called a unique â€Å"living museum and showcase of evolution†. (www. whc. unesco/org/en/danger). The islands were formed by seismic and volcanic activities which are still ongoing processes. These together with the extreme isolation of the islands, led to the development of unusual animal life such as the land iguana, giant tortoise and many types of finch. The finch inspired Darwin’s theory of evolution following his visit in 1835. The islands are referred to as an archipelago as they are very isolated from the nearest continent and the islands themselves are separated from one another. This separation and differences in climates favors evolutionary change. As a result, populations that are related follow separate evolution tracks leading to emergence of various species and even further diversification. The species so formed become very susceptible to changes in the environment. ( www. darwinfoundation. org) The uniqueness of the island lies in its marine and land ecosystems, and presence of flora and fauna endemic to the islands and in most cases found nowhere else in the world. The marine ecosystem is composed of both cold and warm water current systems, marine landscapes â€Å"bajos†- these are underwater mountains formed by volcanic activity they rise almost to the oceans surface. Some of the coastal animals found in the Galapagos marine reserve are sea lions, fur seals, albatrosses, several species of booby, frigate bird species, sea turtles marine iguana, penguins and flightless cormorants. (www. darwin. foundation. org) The land habitats of the Galapagos are mainly determined by their vegetation which is in turn determined by the local climate. The vegetation of the area is strongly zoned by altitude. The land ecosystem has such animal species as land iguanas, land snails, rice rats among others. The Galapagos contain a total of 560 native species of flora,180 are endemic (www. darwinfoundation. org). Some of the plant species include scalesia, opuntia cacti and the Galapagos rock-pursane and other lesser known species. Human intrusions threatening the area Threats to this hub of diversity are mainly in the form of fishing and tourism by humans. In the 1990s, fishing led to a big decline in some of the marine species such as sea-cucumbers and sharks. Then, the fishermen would fish the sharks just for their fins and the remainder of the shark’s body would go to waste. Fishing is the second most important economic activity in the region and marine resources were overused by such practices as illegal fishing and over fishing. The dangers presented by the Galapagos fisheries are-: i) Large international vessels fishing around the Galapagos pelagic zones and inside the Galapagos Marine Reserve (GMR) which is illegal. Long-lining and use of large seines are modern high-technology methods with devastating effects of depleting marine species. (www. darwinfoundation. org) ii) There has also been a rapid influx of poor fishermen from the mainland of Ecuador who serve the interests of mainland fishing companies and middlemen buyers. The fishermen are provided with capital in the form of a loan by the fishing companies to buy boats and equipment. The fishermen then sell the catch to the companies; the catch is later sold in the international market especially the Asian market. The influx has led to the human explosion being experienced in the islands and also the immigration brings with it invasive species which compete with the natural species of the islands decreasing their survival chances. ( www-darwinsfoundation. org) Tourism is the leading economic activity in the Galapagos Islands. Tourism has grown economically at 14% per year and this has lead to the Galapagos experiencing drastic, social, economic, cultural and ecological changes. (www. galapagos. org) The dangers that immigration poses include increased pollution, overuse of resources and eventually a charge in climate and introduction of invasive species. A change in climate will lead to loss of some of the species in the island. Invasive species refers to alien plants, diseases, insects and other organisms that people bring inadvertently to the islands. There are now 1,321 introduced species, compared to 112 identified in 1990. These include 748 species of introduced plants compared to 500 species of native plants and at least 490 species of introduced insects. The risk of the arrival of pathogens such as the West Nile virus, insect pests, and new predators is now high-: Dengue-carrying mosquitoes and some avian diseases are new arrivals in the islands. (www. galapagos. org,2007) Existing protection areas The Galapagos Islands have several protection areas. The Galapagos National Park (GNP) is one of this. 97% of the area covered by islands was designated as a national park in 1959. The lands not included were the settlement areas. Later in 1967, a park service Galapagos National Park service (GNPS) was set up to oversee management and administration of the park. The GNP is made up of 13 large islands, 17 small islands and 40 rocks. (www. galapagos. org/). The park authorities educate the visitors and enforce the laws and regulations of the park. The GNPS also oversees the management and administration of the Galapagos Marine Reserve (GMR) which was set up in 1998, another protection area. The GMR’s function is to protect the waters surrounding the archipelago. 3000 species of marine plant and animals are found in the GMR. The necessity of the GMR became apparent when in the 1990s fishing activities around the archipelago increased and almost had devastating effects on the marine species due to the high demand of both sea cucumbers and sharks’ fins. The GNPS also approves itineraries. This ensures that no one place is too frequently visited. This serves to distribute tourism to all the islands, decreasing chances of harm to the environment. The GNPS works together with the Charles Darwin Foundation, now known as the Galapagos Conservancy. The foundation provides the scientific and technical know-how required in maintenance of the natural biodiversity and ecosystems of the islands. Other protected areas include Sangay National Park, Limoncocha Reserve, and Antisana Ecological Reserve which has the Antisana volcano that is 5758 meters high. The reserve was created in 1993. The Cuxabeno Forest Reserve is another protected area, for two thirds of the year the forest is submerged in water and when it is not, it is made up of dry futbol fields (www. ecuador. com/,2007). It was established in 1979. Part of the 6000 square Kilometer rain forest makes up part of the Amazon Rain forest. There are indigenous people found in this forest whose contribution to reservation is through jungle tours and eco-tourism. Existing efforts in Galapagos to protect and preserve the area include:- i) Registration of fishermen to fishermen’s cooperatives. This has enabled the monitoring of fishermen’s activities and from this an estimate of how much fishing is going on can be got. Also, it makes it easier to track illegal fishing. ii) Establishment of the Galapagos Marine Reserve in March 1998. In this area, all fishing is banned. The area covered by the GMR was expanded TO cover 40 miles around the whole archipelago. These are also zones of protection around the islands. All these are patrolled by GNPs park rangers. The sea shepherd conservation society assists with carrying out patrols in the service. iii) Approving the designation of the Galapagos Archipelago as Particularly Sensitive Sea Area (PSSA) by the Marine Environment Protection Committee(MEPC). PSSA is defined by the International Marine Organization (IMO) as â€Å"an area that needs special protection through action by IMO because of its significance for recognized ecological socio economic or scientific reasons and because it may be vulnerable to damage by international shipping activities†. ([IMO,2001]www. dorwinfoundation. org) iv) Introduction of residence controls which decrease immigration and in turn lower the flow of alien species. The aim is to curb population growth. The controls are however difficult to implement because it is difficult to determine genuine residents and those who come and go but have permanent residence elsewhere. (www. law. emory. edu/ ) v) Education of residents, tourists and Galapagos policy makers on how beneficial sound conservation, practices, polity and sustainable economic activities are for example finding alternative viable economic activities for the local fishermen. vi) The success of Project Isabela. This project has seen a large area being freed of feral goats and pigs. Subsequently there has been an increase in Galapagos’s rails. Areas that had been previously degraded have now become resting areas for petrels and re-establishment of vegetation like tree-terns and endemic scalesia has occurred. Also native invertebrates thought to be extinct are now being identified (www. darwinfoundation. org, 2007) vii) Successful breeding programs for tortoise run by the Charles Darwin Foundation and GPNS has led to repopulation of some islands with their native reptile species. The giant tortoise was becoming extinct due to hunting by humans and other animals. (www. galapagos. org) viii) Inclusion of various sectors in the management board of the Galapagos National Park service has been instrumental in bringing about an attitude of conservation and preservation. At first the local people felt that the government was only concerned about plant and animal life. The multisectoral approach involves key players in fishing, tourism and conservation sectors and also the local person. (www. galapagos. online/) Including the local people has helped to enhance the concept of conversation because the local people no longer feel neglected. Should human intrusion go unchecked, the loss will be great. Maintenance of the rich biodiversity of the islands is achievable of the ecosystem can support sustainable economic use where the local people, conservationist and players in tourism and fishing industry feel their needs have been put into consideration. An example of how the biodiversity can lost is seen in the fact that the present tortoise population is very small. Poaching, destruction of habitats and the presence of invasive species are the main dangers to the tortoise population. (www. galapagos. org, 2007). Though the near extinction of the giant tortoise caught the attention of people and the process was reversed the giant tortoise is not out of the woods yet, and the work of repatriation needs support. In the process of poaching the tortoise, various invasive species which trampled on the tortoise’s habitat were limited and multiplied faster than the tortoise would, leading to destruction of the tortoise habit. The mangrove finch is another species being driven towards extinction. Again the greatest threat to be mangrove forests and the finches is the exploding human presence in the Galapagos. (http://www. galapagos. org/about. html). Increased activity among humans increases the risk of disease further especially avian pox, black rats, cats, fire ants the parasitic fly philornis. All threaten the mangrove finch as well as vulnerable species in Galapagos (http://www. galapagos. org/about. html. ) For the mangrove finch to be saved there has to be study of the mangrove finch and its habitat. Activities that would require support in the mangrove finch conservation project include: ? Creating potential captive breeding facilities for the mangrove finch. ? Resting degraded mangrove finch ecosystem, including establishment of new mangrove forest plots. ? Releasing the captive-bred birds to sites on Isabela and Fernandina islands where the mangrove finch once thrived. For the future generations to be able to see and be part of the abundant biodiversity in the Galapagos islands the necessary funds and a coalition of leadership are needed to successfully conserve and preserve the world heritage site. Otherwise, we risk losing not just an area rich in natural biodiversity but a site of origin of human philosophy and in the process part of the human race. Because of ecological interdependence, there can be no climate changes that will affect animals and plants only, whatever adverse effects will affect flora and fauna will also affect the human race. This means that no part of the ecosystem will be spared the price of not doing all that is necessary to protect and preserve the balance of nature. Conclusion Islands are generally smaller than continental areas but are basically more or less the same with similar social, economic and ecologic changes happening. This then means that islands can and should serve as a model to the rest of the world for these changes (www. darwinsoundation. org). In coming up with solutions to the Galapagos problems we are more or less coming up with a prototype to solve problems that will occur in other continents of the world, but if we cannot resolve the issues then it means that we will also fail in achieving a society where there is a balance of nature and social economic sustainability in the rest of the world. References Charles Darwin foundation, Galapagos Risk; Ground Breaking Analysis Produced retrieved July 6 from http://www. org/en/library/pubs/2007/galapagos Galapagos Conservancy, ‘Breaking News: Galapagos in â€Å"Danger† Retrieved July 6 from http://www. galapagos. org/about. html. ‘Protected areas’ Retrieved July 7 from http:www. ecuador. com/protected-areas UNESCO, Galapagos islands, Retrieved July 7 from http://whc. unesco. org/en/danger UNESCO World Heritage in Danger List July 7 from http://whc. unesco. org/en/danger/ .

Stock Market and Macroeconomic Variables in India

Stock Market and Macroeconomic Variables in India Chapter I: INTRODUCTION Overview Investment is dependent on human behavior. Keynes (1936) elaborates which sort of behavior humans adopt while investing particularly in capital market. Usually people get in use with their â€Å"animal feelings† and â€Å"flock mentality†. Economic and social and political environment also affects the opinion of people and they force them to think several times before investing. This is the reason one cannot forget the fact that the value of economic activities and information nourished to the market is vital. Here we are going to discuss the tendency of animal spirit in India. The propensity of animal spirit in India is very much high-flying. The major reason for this is that only 2% of the population of India participates in such activities. The medium to get knowledge of market and accuracy in information is not available easily. This forces people to act as per their nature rather than their logic. The core theme of this analysis is the study of interrelation betwee n real economic variables and capital market variables. The significance of this relationship has got marvelous recognition in the past due to roller-coaster ride of the BSE. A few academics also claim that it is not greatly shored up by the financial basics. To determine the character of these basics in studying the stock prices, different people have done different researches. Amidst of these thoughts, some fundamentalists have tailored theory of Efficient Market Hypothesis (EMH). This theory was further extended by Fama in 1971 to narrow and categorize such business centers on the foundation of their response and data nourished to them in feeble, partially built and well-built markets. Another theory which is Popular Model Theory shows a different perspective in general. This theory explains the qualitative clarification of price which shows that most of the people proceed inappropriately to the information which they get and easily accessible information is not included in stock market price as Efficient Market Hypothesis verifies which is also much analogous to Keynes model. These days, everyone in the world is running after word money (finance). Nothing is possible without money and economy and other financial operations including growth of this whole world are also dependent on the same. Without finance, no one can turn the wheel of economy at 360 degree, because each and every transaction needs money at its core. Amadou (2007). In the past, there was a system in use, which is barter system. To avoid its complications, ‘money- component of finance was introduced and as then, money has been the most precious thing of the world. It has become a need for every individual to fulfill the requirements. Money is the core object needed to establish a business. The most valuable source of this sort of money is the post laissez-faireization period is stock markets. In todays world, each and every individual can witness the appearance and acceptance of the capital markets in the period of Globalization. This is considered to be highly regarded as an award f or the globalization years to under developed regions to enlarge and reinforce their nitty-gritty as their financial crisis is gratified to an extent by these stock markets. Capital markets are also considered to be a profitable platform for firms to get financing for their new or forthcoming projects and moreover for people as a prospect to invest with chances of risk but huge profits. The establishment of such capital market is the most important aspect for companies and individuals. It is also a valuable state of the prerequisite of economy on the degree required in a contemporary varied economy. The subsistence of such markets persuades the existence of such arguments shaped in the hoisting of money can be transmitted. Current Situation â€Å"Thus if the ‘animal spirits are dimmed and the spontaneous optimism falters, leaving us to depend on nothing but a mathematical expectation, enterprise will fade and die;-though fears of loss may have basis no more reasonable than hopes of profit had before. . . . . . . But individual initiative will be adequate only when reasonable calculation is supplemented and supported by animal spirits. . . . . . . .† Keynes (1936). In the above quote, Keynes (1936) has very bluntly and accurately explained the reasons undercover of the current situation along with the entire humankind is getting exaggerated in our day in 1936 merely in one of his leading models. A few economists have also accepted in an extremely enjoyable method which it is not the object that the worth of our productivity has decreased or lowered but just only the animal feelings are fainted and what we were expecting is that the value of our capital market has boosted is wrong in comparison with the primordial epoch and regard as added rise in actual value improbable. And every financial system requires such â€Å"animal spirits† or the positive behavior along with the estimated threats and reserves to became visible and outshine and development. Since her independence, India was following the socialistic outline for growth, but after the 1990s financial crisis, India had to make some strict financial improvements as proposed by World Bank. The most vital factors of that package were financial liberalization. This financial change cemented a new way for India to boost its economy and make developments and gave India impulsive environment to the financial markets specifically in language of BSE BSE which is supposed to be solitary of the major components of Indias fiscal hike. These days, capital markets has considered to be the most valuable source to transform domestic savings to upcoming productive projects and provides a chance to the country to develop. Brigham (2008) According to a survey conducted in India, around two percent of the general populace is directly caught up in capital markets but when anything happens to such financial markets, it is the whole population which get affected, which clearly shows the correlation, impact and importance of these capital institutions and actual economy not only on the ground intensity but also bottomless within the main rank. In these days, newspapers are bombarded with such sort of news and major newspapers also issue supplement for financial news. Due to such releases, there is a little doubt that the macroeconomic news which is vital to capital market will be affected. In recent years, the whole financial market of the world had crashed and with the recession in capital market, a gap has been established which lead to decrease real economic fundamentals. Consequently, it also boosts the value of this study because the focal point of this downturn is considered to be the capital markets and if we consider it the other way, a nation can become economically strong by considering such markets. So, it can easily be said by any person that it seems to be that the stock prices will go up and would result in the formation of some talented analysts of upcoming values of macroeconomic pointers similar to productivity growth and price increases. If one takes this thoughts then this would definitely result in arose of two more questions that what will make the market create hyper boom and incorporation of capital market with other marketplaces. Agrawal (2008) The most suitable reply to be given to the earliest query is that the flow of information rise which has crowded the market, for instance, media (commerce news channels). Another rebellion that shocked the market is Information Technology. The shortage of skilled people in IT in the US has also become highly required after stocks due to their fantastic dough take home power. The other question which is creating a fuss is regarding the connection of such capital markets with the actual financial system. Different analysts have also studied regarding this theory and worked on this linkage. Ando and Modigliani (1963) developed a theory called life cycle theory which is based on the linkage between stock prices and actual spending. The theory talks about the individuals decisions and states that people mark their expenditure verdicts on the conventional life span earning, division of which might be detained in capital connecting to capital cost variation to variation in using up expenditure. Beck Levine (2001 2008) In the same manner, the linkage between capital costs and investment spending is supported by q theory. The q theory is designed by James Tobin (1969) to analyze the effect of stock prices on investment spending, where q stand for fraction of total retail worth of comapnies to the substitute value of their on hand capital market at recent stock prices. In addition, we had also discussed EMH model. With this research we have concluded that none of these theories fit into the actual and recent image of stock markets. Some fit partially but no one is perfectly related. To analyze such issues, there should be more research to be done on this for better understanding and the below paragraph communicates it in an improved way. â€Å"We should not conclude from this that everything depends on the waves of irrational psychology. On the contrary, the state of long-term expectation is often steady, and, even when it is not, the other factors exert their compensating effects. We are merely reminding ourselves that human decisions affecting the future, whether personal or political or economic, cant depend on strict mathematical expectation, since the basis for making such calculation does not exist, and that it is not innate urge to activity which makes the wheels go round, our rational selves choosing between the alternatives as best we are able, calculating where we can, but often falling back for our motive on whim or sentiment or chance.† Keynes (1936). Structure of the Dissertation This study is stepped into five chapters and this is to be pointed that the register worth has been taken from all the factors. The first chapter thoroughly gives the overview of the current situation. The second chapter is based on the literatures related to our study. The third chapter comprises of a bunch of points and statistics and method considered in this analysis. The fourth chapter will explain the estimations and result analysis. Chapter five exemplifies the results, policy insinuations and boundaries of this analysis effort. Research Questions What is the relationship between stock market and macroeconomic variables in India? Is there an informal relationship between capital market and real economy? What is the influence of investment on financial health of India? CHAPTER II: LITERATURE REVIEW Introduction The word economics has emerged to be the most powerful word. Each and every individual is running after money and always try to earn as much as the one can within the shortest possible span. Without finance, no one can imagine running any sort of business and it has become an essential which runs the businesses and all the major features begin and finish at it. In recent world, the quickest and trouble-free way to earn money for new and challenging projects is to publicize or to enter into the stock markets where a little investment can make the wise firms accelerate and helps these firms to become giants amongst the other big names. Chauvet (2009) There are around two percent of the entire inhabitants in India which is caught up in stock markets but the whole population in India gets affected either directly or indirectly if anything good or bad occurs in such markets. This clearly shows that Capital Markets and Actual Economy both have strong and vital link on not just only the les ser stage but also on the higher stage. A number of studies and researches have been done in this regard but the outcomes are vague. The reason for this is that most of the researchers have found a tough bilateral linkage among capital markets and actual economy. On the other hand some researches have entirely rejected this analysis that stock markets and real economy are correlated. To study more deeply we can distribute numerous theories in 3 schools of thoughts on the ground of the literature review: first school of thought says that there is no linkage between capital market and real financial factors. The second school of thought has analyzed that there is an informal link among stock market and macro economic variable. The last one which is third school of thought promulgates an unclear belief that there is a relation between the two but not positively in both short and long run. Pindyck (2004) This research is comprised of some on hand literature which has been reviewed relating to the above problems. Below we have discussed the overall findings of different researchers. First School of Thought Chowhan, P.K. et al. (2000) The first school of thought attempted to obtain reasons for hurly-burly in capital market in small period in India considering BSE as the major indicator. In the period from 2008-2000, capital markets in India had shown irregular and unstable activities which does not go with the information provided to them. Due to the severe up and down in the stock prices, the investor confidence resulted in turmoil in the markets. The school of thought tried to explain that what could be the actual causes at the back of instability and what made Efficient Market Hypothesis (EMH) by Fama cant explain the reason. The researchers attempted to find out the reason of such huge rise in BSE stock value. On October 2008, BSE was at 2761 and in February 2000 it went at 6000, which shows 117% appraisal in just 15 months, which is not powerfully maintained by basic financial factors in this era because Indian economy boosted just only 5.9% in 2009-2000. On the other hand, the cor porate profit raised by 32%while the accumulated growth rate for industrial production during Apr-Dec 2009 was reported to be 6.2%. The rate of inflation in September 2008 was 8.8% while in 2009-2000 it has also jumped down to 2.9%. This research shows that long run financial factors such fluctuations in stock prices. Indias GDP in addition did not prove any hike in the past years. Not only India was affected with this situation but also other countries as well. The economists found some reasons to create a boost in Indian stock markets, they are: Information hike; IT impact; Internet fable; Feedback outcome; Cultural alteration. Another economist Sarkar, P. (2007) states that if there exists any significant correlation between growth and capital accretion, they have to use yearly information on numerous financial factors like, insignificant and actual share price, capital market turnover, companies which are stock market members, fixed stock structure and enlargement of actual GDP and production results. Despite, all the researchers tell the same thing from 2000-1951 till 2005, there are no correlation actual and capital market variables neither in short nor in long run. In addition, Sarkar also researched new movements and came to a conclusion that most of the financial variables are unstable and comprised of an upswing movement in mid 1970s. The tactics used in this thesis to get the best possible results is Unit Root tests. These tests are used to obtain a fixed and worthy degeneration analysis. Besides these studies, OLS and MLE approaches are also utilized for determining the sequence of auto-linkage of the remaining and handling with it. To estimate long-term and short-term relationships in a better manner, ECM and Autoregressive Distributed Lag (ADRL) respectively are used in this thesis. Shiller, R. (1990), an economist of University of Yale, had researched and tried to compare the normal meager compound Capital Price Index from 1871-2000. He concluded that the capital price instability is not compared by the profits. Second School of Thought In 2001, Black tried to elaborate the interlinkage between the U.S. capital costs and real economic variables. Black gathered 54 year periodical data and along with it used VAR model supported by hypothetical structure to study relationship between capital prices and macro financial variables. With the lime light on actual results and considering current value approach, Black found that the basic price-output ratio and the basic capital price in the light of various suppositions relating to time variation of income, and to contrast such values to the real data. Black studies 3 situations, in the first one, he initiated supposing that the individuals expect fixed return as being the wealth holder and then support this supposition by first, permitting the undisruptive rate to differ in due course and next the risk payment to be time changeable. Although there is a variation in models results, most mean that the capital market has comparatively been overestimated in comparison with its value expected from growth rates. According to reports, the ratio of stock market capitalization with GDP has boosted to be thrice as compared to last twenty five years in the US. From this figure, in mid 1970s less than 30% and in 1990s it was 80%. The point which is to be noted here is that it does not only seem that the capital market has risen in 1990s but its link with the actual finances has turned out to be well-built and due to which it got accredited. As per the records, capital market has been associated with actual financial variables by numerous tech niques, out of which one of them is asset costing perception in which Arbitrage Pricing Theory is second-hand as structure to analyze the impacts of actual economic measures on capital costs concentrating on the question that will the risk allied with a few real financial variables is replicated in probable asset takings. On the other hand, there also exists expenditure-CAPM study of expenditure which deliberates on a particular real factor power. There are other researches also conducted to analyze the relation between capital prices and investment when stock prices hide the actual economy which can be doled out with. In recent times, a lot of researches have aroused analyzing the mutual linkage between capital worth and actual financial factors with VAR models as the structure, devoid of any particular hypothetical formation. Bulmash (2003) has done a very distinctive analysis to elaborate the interaction between company investments and stock markets. He also studied that how investments affect stock markets and vice versa. This theory also reflects how investments respond faster than customers in capital markets. In his previous researches, Bulmash showed that what makes one capital market to get boosted just by the difference in returns of economies. And finally results in unity of this income fetch the stock into association in the long term. It has also been proved that what makes these stock markets covert into analysts of the future financial flows. It has also showed the linkage between capital investment markets and actual financial variables through a system that value of capital market will boost when: Firms increase their investment to enlarge their operations which will increase the GDP. With the increase in capital, actual capital also amplifies because buyers also raise their expenses which accelerate GDP. Such points will result in worth formation which will lead to real economy. Third School of Thought A renowned economist, Mustafa in 2007 has done an analysis on the linkage between capital market and actual financial market in Pakistan. For his study, he took a number of economic variables like, per capita GDP, productivity growth and capital market liquidity, volume of capital market highlighting the financial Market. He took up co-amalgamation and Error Correction Model method to set up the pragmatic link, if any among the two from 1980-2004. The probable outcomes points that the activities in the capital market of Pakistan elaborate the per capita GDP and productivity growth for small period only. On the other side, financial growth variables elaborates capital market factors in nearby as well as in long term which shows that the enlargement of capital market relies on by and large development of economy in Pakistan. The economy of Pakistan had not been affected by the acceleration in Karachi Stock Exchange which signifies that the elevated instability is not out of the ordinary of the up-and-coming stock markets. The previous theories related to this subject used stock prices as capital market movement sign and utilization, price rises, industrial output, financial flow, rate of interest as real financial factor. Mustafas theory is quite different from others work because the variables are different as used by others. The analyst have come to a conclusion on the basis of empirical results that in Pakistan the stock mark et is way behind and it needs to develop to be vital in the economy of Pakistan with the help of other financial institutions. In any nations economic growth, capital markets play an important role but capital market is inactive in the growth of a nation unless it is in its emergent stage. Another big name amongst economists is Hussain, F (2010). He also studied about the linkage among stock price and actual economy of Pakistan. He gathered data from 1959 till 2004 or 2005. After getting data, he distributed it in 2 halves, which are pre and post liberalization and with the help of this activity he analyzed the linkage between stock price and actual economy by applying different econometric tactics like ECM, Engle-Granger co- integrating regressions and Augmented Dickey Fuller (ADF) Unit Root tests. The delay period was decided in all the cases on the foundation of the two, i.e., Final Prediction Error and Akaike Information Criteria (AIC). By applying such techniques Hussain examined that there exists long term linkage between capital worth and actual financial factors. On the subject of the causal section, he has brought into being unilateral grounds from actual market to stock costs. This highlights that the stock markets in Pakistan are yet in a developing stage. They have not got developed to influence the actual variables of economy and because of that they cannot be considered as most important sign of the monetary activity. It means that Government of Pakistan can utilize actual sector to power the capital market. Another study observes that in India, the incorporation between Foreign Exchange and Stock market in liberalization period. The researchers tried their level best to find out the link flanked by Foreign Exchange and Stock market by using goods market approach and portfolio balance approach. To narrow the research, they have used a number of econometric techniques Grangers causality test in VAR structure, which is supported by F-Test to test this theory; and to examine such chains for immobility, ADF Unit Root Test is useful. One more econometric test is applied which is Gwekes Measures for the degree of business center amalgamation. But the point is that this study gave new outcomes which are totally different. The previous examinations reveal that there exists an informal linkage among income in foreign exchange and stock markets. While as per the final analysis, there is a high extent of assimilation among foreign exchange and capital markets and there is still two dimensional as w ell as simultaneous informal linkages between foreign exchange and stock markets. Figlewski (2001) Out of one of the many various kinds of papers written by Brenner, M., et al. (2010) have studied the nearby prevision and reaction of U.S. stocks, treasury bonds, and commercial bond places to the initial public announcement of major macroeconomic bulletin on employment, inflation, and interest rates. Four essential set of queries have been examined under this study. These are listed below: Whether these traded assets in the markets are more responsive to instability prior to release of these public announcements or less impulsive in nature afterwards? Are various asset class influenced in a different way by these public announcements? Is the prevailing degree of correlation between various assets being affected by these macroeconomic announcements? Do the influences of such public announcements occur solely due to their unanticipated mechanism or is the reaction happening in congruence to the predictable information? In response to the above stated queries, they have under taken a number of day to day, incessantly compounded surplus waiting-phase profits on the three major asset categories, namely; stocks, reserves bonds, and shared bonds. Koutsoyiannis (2004) What differentiates this research in contrast to the prior researches of its various types is the investigation of impact of major macroeconomic news on the cooperative allocation of returns in three different financial souks. Surveys and potential data have also been used to dig out the unforeseen mechanism of this information. Furthermore affect of these news bulletins on both the profits generated out of the three categories of assets, as well as their instability and connection is also a part of the analysis. To understand the flexibility of univariate GARCH model instead of containing the intricacy of the multivariate GARCH model, Dynamic Conditional Correlation (DCC) model by Engle (2002) has been taken under study. In view of this research they have come up to the conclusion that the information pertaining to the macroeconomic bulletins is considered to have a rather statistically momentous and economically considerable influence over the financial markets of US. Also this significant impact differs to a great extent across asset categories. Therefore it analyzes a multifaceted picture of interaction between the returns on asset in propinquity of public announcements or bulletins. In short a powerful correlation exists amid the actual economy and money markets of the U.S. With the help of a bivariate GARCH framework, Sarkar, A., et al. (2009), have been able to analyze whether the possibility of positive provisional relationship exists among capital profits and spending or not, even though the existence of absolute correlation is not evident in the case of G7 countries. A monthly statistics of approximately forty years have been considered for the United States and for other countries, quarterly data has been taken into consideration. They have witnessed strong evidence with respect to the existence of positive and considerable uncertain link among advancement in spending increase and capital profits. The hypothesis could not be verified and have been disregarded incase of 6 of the G7 countries as the correlation appears to be constant in nature for them. In relation to the above they have reached to a conclusion which proposes that the response of the policy incase when the stock markets performance is signifying better results than expected, may need to have a stronger policy than the usual. But when the market conditions turn out to be on the extreme that is either in a positive condition or a negative one, additional effects on the policy shouldnt have an impact by them.In this manner they have worked hard to establish a signifying linkage among capital market and actual economy and what effect does the capital market has on the actual economy. Another economist, Chauvet, M. (2009), has compiled his work upon establishing an active linkage among capital market variations and the trade cycle. It is of the believe that the movements in the stock market is being reflected by the various positions held up by the participants of the market on the basis of their assessment pertaining to the present condition of the economy. With the help of the on hand financial variables, in this thesis, the researcher has tried to explore the likelihood of envisaging the key rotating spots of the business series. A model has been proposed by Chauvet (2009) that facilitates in generating the predicted key rotating spots of the business series with the help of the trade cycle factor. It also assists in anticipating these predicted turning points pertaining to the trade cycle with the help of the stock market factor. The author; Chauvet, M. (2009) also suggests in this paper, an indicator of the stock market named as the stock market indicator (SM I). With the help of various series of financials, the stock market indicator (SMI) financially assists in the anticipation of essential rotating spots of the business series better in comparison to its individual components. This indicates that the SMI model is by far a better alternative to be used as a tool in anticipating the essential turning points of the trade cycle. Besides that, SMI can also be evaluated by the month end, which highlights the latest information for that particular month of the year. In contrast the CLI model only highlights information pertaining to the preceding month. Therefore the underlying structure suggested by Chauvet, M. (2009), is utilized to study and explore the characteristics of the stock market activities in predicting the trade cycles, particularly the beginning of the recession as a result of which it establishes a strong correlation and one way causal relationship between stock market and the real economy. Monthly data has been taken into c onsideration by the author from 1954-1994, in studying the economic and financial variables. The name of the economic variables used is: industrial production, manufacturing and trade sales from 1982, non-agricultural civilian employment, and the sum of individual income minus the transfer of payments from 1987. The author has taken into account a number of other variables for the stock market factor, these variables reveal general facts and figures pertaining to the current situation of the financial environment, for example; the amendments in the SP 500 PE ratio, surplus stock returns, 3-month Treasury bill rate and SP 500 dividend yield. A two state Markov process has to b followed by each of the factors discussed above. These factors depict various phases of the trade cycle. All of the factors are of the permission to change asynchronously in due course of time. Brenner, M., et al. (2010) throughout writing this paper have analyzed and examined the deep seated roots that are linked to the financial markets and the real economy. They have also examined the first public news pertaining to information of US macro economy to the short term anticipation and reaction of US stock, Treasury and Corporate Bond. The focus has been primarily placed upon studying the influence of these announcements on not just only on the different levels of those asset returns, but also upon the unpredictability and cooperative changes of those asset returns. The procedure of how the price arrangement takes place in relation to the macroeconomic news for the three major segments of the market that is stocks, government bonds and corporate bonds nad has also been explored by them. While carrying out the research on the underlying variables they have come across 4 important issues: In relation to the first release of the announcements, what impact would these announcements have on the asset returns and the volatility of these asset returns? Does the affect of these announcements differ in their impact in different ways for the various asset classes? Is the current degree of correlation that exists between different asset classes are significantly affected by this news? Is the reaction to the predicted information or the unexpected components of these news driving the impact created by these news releases? Having the flexibility of univariate GARCH model as opposed to the complex nature of the multivariate GARCH specifications, DCC Stock Market and Macroeconomic Variables in India Stock Market and Macroeconomic Variables in India Chapter I: INTRODUCTION Overview Investment is dependent on human behavior. Keynes (1936) elaborates which sort of behavior humans adopt while investing particularly in capital market. Usually people get in use with their â€Å"animal feelings† and â€Å"flock mentality†. Economic and social and political environment also affects the opinion of people and they force them to think several times before investing. This is the reason one cannot forget the fact that the value of economic activities and information nourished to the market is vital. Here we are going to discuss the tendency of animal spirit in India. The propensity of animal spirit in India is very much high-flying. The major reason for this is that only 2% of the population of India participates in such activities. The medium to get knowledge of market and accuracy in information is not available easily. This forces people to act as per their nature rather than their logic. The core theme of this analysis is the study of interrelation betwee n real economic variables and capital market variables. The significance of this relationship has got marvelous recognition in the past due to roller-coaster ride of the BSE. A few academics also claim that it is not greatly shored up by the financial basics. To determine the character of these basics in studying the stock prices, different people have done different researches. Amidst of these thoughts, some fundamentalists have tailored theory of Efficient Market Hypothesis (EMH). This theory was further extended by Fama in 1971 to narrow and categorize such business centers on the foundation of their response and data nourished to them in feeble, partially built and well-built markets. Another theory which is Popular Model Theory shows a different perspective in general. This theory explains the qualitative clarification of price which shows that most of the people proceed inappropriately to the information which they get and easily accessible information is not included in stock market price as Efficient Market Hypothesis verifies which is also much analogous to Keynes model. These days, everyone in the world is running after word money (finance). Nothing is possible without money and economy and other financial operations including growth of this whole world are also dependent on the same. Without finance, no one can turn the wheel of economy at 360 degree, because each and every transaction needs money at its core. Amadou (2007). In the past, there was a system in use, which is barter system. To avoid its complications, ‘money- component of finance was introduced and as then, money has been the most precious thing of the world. It has become a need for every individual to fulfill the requirements. Money is the core object needed to establish a business. The most valuable source of this sort of money is the post laissez-faireization period is stock markets. In todays world, each and every individual can witness the appearance and acceptance of the capital markets in the period of Globalization. This is considered to be highly regarded as an award f or the globalization years to under developed regions to enlarge and reinforce their nitty-gritty as their financial crisis is gratified to an extent by these stock markets. Capital markets are also considered to be a profitable platform for firms to get financing for their new or forthcoming projects and moreover for people as a prospect to invest with chances of risk but huge profits. The establishment of such capital market is the most important aspect for companies and individuals. It is also a valuable state of the prerequisite of economy on the degree required in a contemporary varied economy. The subsistence of such markets persuades the existence of such arguments shaped in the hoisting of money can be transmitted. Current Situation â€Å"Thus if the ‘animal spirits are dimmed and the spontaneous optimism falters, leaving us to depend on nothing but a mathematical expectation, enterprise will fade and die;-though fears of loss may have basis no more reasonable than hopes of profit had before. . . . . . . But individual initiative will be adequate only when reasonable calculation is supplemented and supported by animal spirits. . . . . . . .† Keynes (1936). In the above quote, Keynes (1936) has very bluntly and accurately explained the reasons undercover of the current situation along with the entire humankind is getting exaggerated in our day in 1936 merely in one of his leading models. A few economists have also accepted in an extremely enjoyable method which it is not the object that the worth of our productivity has decreased or lowered but just only the animal feelings are fainted and what we were expecting is that the value of our capital market has boosted is wrong in comparison with the primordial epoch and regard as added rise in actual value improbable. And every financial system requires such â€Å"animal spirits† or the positive behavior along with the estimated threats and reserves to became visible and outshine and development. Since her independence, India was following the socialistic outline for growth, but after the 1990s financial crisis, India had to make some strict financial improvements as proposed by World Bank. The most vital factors of that package were financial liberalization. This financial change cemented a new way for India to boost its economy and make developments and gave India impulsive environment to the financial markets specifically in language of BSE BSE which is supposed to be solitary of the major components of Indias fiscal hike. These days, capital markets has considered to be the most valuable source to transform domestic savings to upcoming productive projects and provides a chance to the country to develop. Brigham (2008) According to a survey conducted in India, around two percent of the general populace is directly caught up in capital markets but when anything happens to such financial markets, it is the whole population which get affected, which clearly shows the correlation, impact and importance of these capital institutions and actual economy not only on the ground intensity but also bottomless within the main rank. In these days, newspapers are bombarded with such sort of news and major newspapers also issue supplement for financial news. Due to such releases, there is a little doubt that the macroeconomic news which is vital to capital market will be affected. In recent years, the whole financial market of the world had crashed and with the recession in capital market, a gap has been established which lead to decrease real economic fundamentals. Consequently, it also boosts the value of this study because the focal point of this downturn is considered to be the capital markets and if we consider it the other way, a nation can become economically strong by considering such markets. So, it can easily be said by any person that it seems to be that the stock prices will go up and would result in the formation of some talented analysts of upcoming values of macroeconomic pointers similar to productivity growth and price increases. If one takes this thoughts then this would definitely result in arose of two more questions that what will make the market create hyper boom and incorporation of capital market with other marketplaces. Agrawal (2008) The most suitable reply to be given to the earliest query is that the flow of information rise which has crowded the market, for instance, media (commerce news channels). Another rebellion that shocked the market is Information Technology. The shortage of skilled people in IT in the US has also become highly required after stocks due to their fantastic dough take home power. The other question which is creating a fuss is regarding the connection of such capital markets with the actual financial system. Different analysts have also studied regarding this theory and worked on this linkage. Ando and Modigliani (1963) developed a theory called life cycle theory which is based on the linkage between stock prices and actual spending. The theory talks about the individuals decisions and states that people mark their expenditure verdicts on the conventional life span earning, division of which might be detained in capital connecting to capital cost variation to variation in using up expenditure. Beck Levine (2001 2008) In the same manner, the linkage between capital costs and investment spending is supported by q theory. The q theory is designed by James Tobin (1969) to analyze the effect of stock prices on investment spending, where q stand for fraction of total retail worth of comapnies to the substitute value of their on hand capital market at recent stock prices. In addition, we had also discussed EMH model. With this research we have concluded that none of these theories fit into the actual and recent image of stock markets. Some fit partially but no one is perfectly related. To analyze such issues, there should be more research to be done on this for better understanding and the below paragraph communicates it in an improved way. â€Å"We should not conclude from this that everything depends on the waves of irrational psychology. On the contrary, the state of long-term expectation is often steady, and, even when it is not, the other factors exert their compensating effects. We are merely reminding ourselves that human decisions affecting the future, whether personal or political or economic, cant depend on strict mathematical expectation, since the basis for making such calculation does not exist, and that it is not innate urge to activity which makes the wheels go round, our rational selves choosing between the alternatives as best we are able, calculating where we can, but often falling back for our motive on whim or sentiment or chance.† Keynes (1936). Structure of the Dissertation This study is stepped into five chapters and this is to be pointed that the register worth has been taken from all the factors. The first chapter thoroughly gives the overview of the current situation. The second chapter is based on the literatures related to our study. The third chapter comprises of a bunch of points and statistics and method considered in this analysis. The fourth chapter will explain the estimations and result analysis. Chapter five exemplifies the results, policy insinuations and boundaries of this analysis effort. Research Questions What is the relationship between stock market and macroeconomic variables in India? Is there an informal relationship between capital market and real economy? What is the influence of investment on financial health of India? CHAPTER II: LITERATURE REVIEW Introduction The word economics has emerged to be the most powerful word. Each and every individual is running after money and always try to earn as much as the one can within the shortest possible span. Without finance, no one can imagine running any sort of business and it has become an essential which runs the businesses and all the major features begin and finish at it. In recent world, the quickest and trouble-free way to earn money for new and challenging projects is to publicize or to enter into the stock markets where a little investment can make the wise firms accelerate and helps these firms to become giants amongst the other big names. Chauvet (2009) There are around two percent of the entire inhabitants in India which is caught up in stock markets but the whole population in India gets affected either directly or indirectly if anything good or bad occurs in such markets. This clearly shows that Capital Markets and Actual Economy both have strong and vital link on not just only the les ser stage but also on the higher stage. A number of studies and researches have been done in this regard but the outcomes are vague. The reason for this is that most of the researchers have found a tough bilateral linkage among capital markets and actual economy. On the other hand some researches have entirely rejected this analysis that stock markets and real economy are correlated. To study more deeply we can distribute numerous theories in 3 schools of thoughts on the ground of the literature review: first school of thought says that there is no linkage between capital market and real financial factors. The second school of thought has analyzed that there is an informal link among stock market and macro economic variable. The last one which is third school of thought promulgates an unclear belief that there is a relation between the two but not positively in both short and long run. Pindyck (2004) This research is comprised of some on hand literature which has been reviewed relating to the above problems. Below we have discussed the overall findings of different researchers. First School of Thought Chowhan, P.K. et al. (2000) The first school of thought attempted to obtain reasons for hurly-burly in capital market in small period in India considering BSE as the major indicator. In the period from 2008-2000, capital markets in India had shown irregular and unstable activities which does not go with the information provided to them. Due to the severe up and down in the stock prices, the investor confidence resulted in turmoil in the markets. The school of thought tried to explain that what could be the actual causes at the back of instability and what made Efficient Market Hypothesis (EMH) by Fama cant explain the reason. The researchers attempted to find out the reason of such huge rise in BSE stock value. On October 2008, BSE was at 2761 and in February 2000 it went at 6000, which shows 117% appraisal in just 15 months, which is not powerfully maintained by basic financial factors in this era because Indian economy boosted just only 5.9% in 2009-2000. On the other hand, the cor porate profit raised by 32%while the accumulated growth rate for industrial production during Apr-Dec 2009 was reported to be 6.2%. The rate of inflation in September 2008 was 8.8% while in 2009-2000 it has also jumped down to 2.9%. This research shows that long run financial factors such fluctuations in stock prices. Indias GDP in addition did not prove any hike in the past years. Not only India was affected with this situation but also other countries as well. The economists found some reasons to create a boost in Indian stock markets, they are: Information hike; IT impact; Internet fable; Feedback outcome; Cultural alteration. Another economist Sarkar, P. (2007) states that if there exists any significant correlation between growth and capital accretion, they have to use yearly information on numerous financial factors like, insignificant and actual share price, capital market turnover, companies which are stock market members, fixed stock structure and enlargement of actual GDP and production results. Despite, all the researchers tell the same thing from 2000-1951 till 2005, there are no correlation actual and capital market variables neither in short nor in long run. In addition, Sarkar also researched new movements and came to a conclusion that most of the financial variables are unstable and comprised of an upswing movement in mid 1970s. The tactics used in this thesis to get the best possible results is Unit Root tests. These tests are used to obtain a fixed and worthy degeneration analysis. Besides these studies, OLS and MLE approaches are also utilized for determining the sequence of auto-linkage of the remaining and handling with it. To estimate long-term and short-term relationships in a better manner, ECM and Autoregressive Distributed Lag (ADRL) respectively are used in this thesis. Shiller, R. (1990), an economist of University of Yale, had researched and tried to compare the normal meager compound Capital Price Index from 1871-2000. He concluded that the capital price instability is not compared by the profits. Second School of Thought In 2001, Black tried to elaborate the interlinkage between the U.S. capital costs and real economic variables. Black gathered 54 year periodical data and along with it used VAR model supported by hypothetical structure to study relationship between capital prices and macro financial variables. With the lime light on actual results and considering current value approach, Black found that the basic price-output ratio and the basic capital price in the light of various suppositions relating to time variation of income, and to contrast such values to the real data. Black studies 3 situations, in the first one, he initiated supposing that the individuals expect fixed return as being the wealth holder and then support this supposition by first, permitting the undisruptive rate to differ in due course and next the risk payment to be time changeable. Although there is a variation in models results, most mean that the capital market has comparatively been overestimated in comparison with its value expected from growth rates. According to reports, the ratio of stock market capitalization with GDP has boosted to be thrice as compared to last twenty five years in the US. From this figure, in mid 1970s less than 30% and in 1990s it was 80%. The point which is to be noted here is that it does not only seem that the capital market has risen in 1990s but its link with the actual finances has turned out to be well-built and due to which it got accredited. As per the records, capital market has been associated with actual financial variables by numerous tech niques, out of which one of them is asset costing perception in which Arbitrage Pricing Theory is second-hand as structure to analyze the impacts of actual economic measures on capital costs concentrating on the question that will the risk allied with a few real financial variables is replicated in probable asset takings. On the other hand, there also exists expenditure-CAPM study of expenditure which deliberates on a particular real factor power. There are other researches also conducted to analyze the relation between capital prices and investment when stock prices hide the actual economy which can be doled out with. In recent times, a lot of researches have aroused analyzing the mutual linkage between capital worth and actual financial factors with VAR models as the structure, devoid of any particular hypothetical formation. Bulmash (2003) has done a very distinctive analysis to elaborate the interaction between company investments and stock markets. He also studied that how investments affect stock markets and vice versa. This theory also reflects how investments respond faster than customers in capital markets. In his previous researches, Bulmash showed that what makes one capital market to get boosted just by the difference in returns of economies. And finally results in unity of this income fetch the stock into association in the long term. It has also been proved that what makes these stock markets covert into analysts of the future financial flows. It has also showed the linkage between capital investment markets and actual financial variables through a system that value of capital market will boost when: Firms increase their investment to enlarge their operations which will increase the GDP. With the increase in capital, actual capital also amplifies because buyers also raise their expenses which accelerate GDP. Such points will result in worth formation which will lead to real economy. Third School of Thought A renowned economist, Mustafa in 2007 has done an analysis on the linkage between capital market and actual financial market in Pakistan. For his study, he took a number of economic variables like, per capita GDP, productivity growth and capital market liquidity, volume of capital market highlighting the financial Market. He took up co-amalgamation and Error Correction Model method to set up the pragmatic link, if any among the two from 1980-2004. The probable outcomes points that the activities in the capital market of Pakistan elaborate the per capita GDP and productivity growth for small period only. On the other side, financial growth variables elaborates capital market factors in nearby as well as in long term which shows that the enlargement of capital market relies on by and large development of economy in Pakistan. The economy of Pakistan had not been affected by the acceleration in Karachi Stock Exchange which signifies that the elevated instability is not out of the ordinary of the up-and-coming stock markets. The previous theories related to this subject used stock prices as capital market movement sign and utilization, price rises, industrial output, financial flow, rate of interest as real financial factor. Mustafas theory is quite different from others work because the variables are different as used by others. The analyst have come to a conclusion on the basis of empirical results that in Pakistan the stock mark et is way behind and it needs to develop to be vital in the economy of Pakistan with the help of other financial institutions. In any nations economic growth, capital markets play an important role but capital market is inactive in the growth of a nation unless it is in its emergent stage. Another big name amongst economists is Hussain, F (2010). He also studied about the linkage among stock price and actual economy of Pakistan. He gathered data from 1959 till 2004 or 2005. After getting data, he distributed it in 2 halves, which are pre and post liberalization and with the help of this activity he analyzed the linkage between stock price and actual economy by applying different econometric tactics like ECM, Engle-Granger co- integrating regressions and Augmented Dickey Fuller (ADF) Unit Root tests. The delay period was decided in all the cases on the foundation of the two, i.e., Final Prediction Error and Akaike Information Criteria (AIC). By applying such techniques Hussain examined that there exists long term linkage between capital worth and actual financial factors. On the subject of the causal section, he has brought into being unilateral grounds from actual market to stock costs. This highlights that the stock markets in Pakistan are yet in a developing stage. They have not got developed to influence the actual variables of economy and because of that they cannot be considered as most important sign of the monetary activity. It means that Government of Pakistan can utilize actual sector to power the capital market. Another study observes that in India, the incorporation between Foreign Exchange and Stock market in liberalization period. The researchers tried their level best to find out the link flanked by Foreign Exchange and Stock market by using goods market approach and portfolio balance approach. To narrow the research, they have used a number of econometric techniques Grangers causality test in VAR structure, which is supported by F-Test to test this theory; and to examine such chains for immobility, ADF Unit Root Test is useful. One more econometric test is applied which is Gwekes Measures for the degree of business center amalgamation. But the point is that this study gave new outcomes which are totally different. The previous examinations reveal that there exists an informal linkage among income in foreign exchange and stock markets. While as per the final analysis, there is a high extent of assimilation among foreign exchange and capital markets and there is still two dimensional as w ell as simultaneous informal linkages between foreign exchange and stock markets. Figlewski (2001) Out of one of the many various kinds of papers written by Brenner, M., et al. (2010) have studied the nearby prevision and reaction of U.S. stocks, treasury bonds, and commercial bond places to the initial public announcement of major macroeconomic bulletin on employment, inflation, and interest rates. Four essential set of queries have been examined under this study. These are listed below: Whether these traded assets in the markets are more responsive to instability prior to release of these public announcements or less impulsive in nature afterwards? Are various asset class influenced in a different way by these public announcements? Is the prevailing degree of correlation between various assets being affected by these macroeconomic announcements? Do the influences of such public announcements occur solely due to their unanticipated mechanism or is the reaction happening in congruence to the predictable information? In response to the above stated queries, they have under taken a number of day to day, incessantly compounded surplus waiting-phase profits on the three major asset categories, namely; stocks, reserves bonds, and shared bonds. Koutsoyiannis (2004) What differentiates this research in contrast to the prior researches of its various types is the investigation of impact of major macroeconomic news on the cooperative allocation of returns in three different financial souks. Surveys and potential data have also been used to dig out the unforeseen mechanism of this information. Furthermore affect of these news bulletins on both the profits generated out of the three categories of assets, as well as their instability and connection is also a part of the analysis. To understand the flexibility of univariate GARCH model instead of containing the intricacy of the multivariate GARCH model, Dynamic Conditional Correlation (DCC) model by Engle (2002) has been taken under study. In view of this research they have come up to the conclusion that the information pertaining to the macroeconomic bulletins is considered to have a rather statistically momentous and economically considerable influence over the financial markets of US. Also this significant impact differs to a great extent across asset categories. Therefore it analyzes a multifaceted picture of interaction between the returns on asset in propinquity of public announcements or bulletins. In short a powerful correlation exists amid the actual economy and money markets of the U.S. With the help of a bivariate GARCH framework, Sarkar, A., et al. (2009), have been able to analyze whether the possibility of positive provisional relationship exists among capital profits and spending or not, even though the existence of absolute correlation is not evident in the case of G7 countries. A monthly statistics of approximately forty years have been considered for the United States and for other countries, quarterly data has been taken into consideration. They have witnessed strong evidence with respect to the existence of positive and considerable uncertain link among advancement in spending increase and capital profits. The hypothesis could not be verified and have been disregarded incase of 6 of the G7 countries as the correlation appears to be constant in nature for them. In relation to the above they have reached to a conclusion which proposes that the response of the policy incase when the stock markets performance is signifying better results than expected, may need to have a stronger policy than the usual. But when the market conditions turn out to be on the extreme that is either in a positive condition or a negative one, additional effects on the policy shouldnt have an impact by them.In this manner they have worked hard to establish a signifying linkage among capital market and actual economy and what effect does the capital market has on the actual economy. Another economist, Chauvet, M. (2009), has compiled his work upon establishing an active linkage among capital market variations and the trade cycle. It is of the believe that the movements in the stock market is being reflected by the various positions held up by the participants of the market on the basis of their assessment pertaining to the present condition of the economy. With the help of the on hand financial variables, in this thesis, the researcher has tried to explore the likelihood of envisaging the key rotating spots of the business series. A model has been proposed by Chauvet (2009) that facilitates in generating the predicted key rotating spots of the business series with the help of the trade cycle factor. It also assists in anticipating these predicted turning points pertaining to the trade cycle with the help of the stock market factor. The author; Chauvet, M. (2009) also suggests in this paper, an indicator of the stock market named as the stock market indicator (SM I). With the help of various series of financials, the stock market indicator (SMI) financially assists in the anticipation of essential rotating spots of the business series better in comparison to its individual components. This indicates that the SMI model is by far a better alternative to be used as a tool in anticipating the essential turning points of the trade cycle. Besides that, SMI can also be evaluated by the month end, which highlights the latest information for that particular month of the year. In contrast the CLI model only highlights information pertaining to the preceding month. Therefore the underlying structure suggested by Chauvet, M. (2009), is utilized to study and explore the characteristics of the stock market activities in predicting the trade cycles, particularly the beginning of the recession as a result of which it establishes a strong correlation and one way causal relationship between stock market and the real economy. Monthly data has been taken into c onsideration by the author from 1954-1994, in studying the economic and financial variables. The name of the economic variables used is: industrial production, manufacturing and trade sales from 1982, non-agricultural civilian employment, and the sum of individual income minus the transfer of payments from 1987. The author has taken into account a number of other variables for the stock market factor, these variables reveal general facts and figures pertaining to the current situation of the financial environment, for example; the amendments in the SP 500 PE ratio, surplus stock returns, 3-month Treasury bill rate and SP 500 dividend yield. A two state Markov process has to b followed by each of the factors discussed above. These factors depict various phases of the trade cycle. All of the factors are of the permission to change asynchronously in due course of time. Brenner, M., et al. (2010) throughout writing this paper have analyzed and examined the deep seated roots that are linked to the financial markets and the real economy. They have also examined the first public news pertaining to information of US macro economy to the short term anticipation and reaction of US stock, Treasury and Corporate Bond. The focus has been primarily placed upon studying the influence of these announcements on not just only on the different levels of those asset returns, but also upon the unpredictability and cooperative changes of those asset returns. The procedure of how the price arrangement takes place in relation to the macroeconomic news for the three major segments of the market that is stocks, government bonds and corporate bonds nad has also been explored by them. While carrying out the research on the underlying variables they have come across 4 important issues: In relation to the first release of the announcements, what impact would these announcements have on the asset returns and the volatility of these asset returns? Does the affect of these announcements differ in their impact in different ways for the various asset classes? Is the current degree of correlation that exists between different asset classes are significantly affected by this news? Is the reaction to the predicted information or the unexpected components of these news driving the impact created by these news releases? Having the flexibility of univariate GARCH model as opposed to the complex nature of the multivariate GARCH specifications, DCC