The History of Jell-O

Jell-O: It’s now as American as apple pie. Once a twice-failed processed food made from a mash-up of animal parts, it managed to become a hit dessert and the go-to food for generations of sick children.   Who Invented Jell-O? In 1845, New York industrialist Peter Cooper patented a method for the manufacture of gelatin, a tasteless, odorless gelling agent made of out animal by-products. Cooper’s product failed to catch on, but in 1897, Pearle Wait, a carpenter turned cough syrup manufacturer in LeRoy, a town in upstate New York was experimenting with gelatin and concocted a fruit-flavored dessert. His wife, May David Wait, dubbed it Jell-O.   Woodward Buys Jell-O Wait lacked the funding to market and distribute his new product. In 1899 he sold it to Frank Woodward, a school dropout who by the age of 20 had his own business, Genesee Pure Food Company. Woodward bought the rights to Jell-O for $450 from Wait. Once again, sales lagged. Woodward, who sold a number of patent medicines, Raccoon Corn Plasters, and a roasted coffee substitute called Grain-O, grew impatient with the dessert. Sales were still slow, so Woodward offered to sell the rights to Jell-O ® to his plant superintendent for $35. However, before the final sale, Woodward’s intensive advertising efforts, which called for the distribution of recipes and samples and paid off. By 1906, sales reached $1 million.   Making Jell-O a National Staple The company doubled down on marketing. They sent out nattily dressed salesmen to demonstrate Jell-O. The also distributed 15 million copies of a Jell-O recipe book containing celebrity favorites and illustrations by beloved American artists, including Maxfield Parrish and Norman Rockwell. The dessert’s popularity rose. Woodward’s Genesee Pure Food Company was renamed Jell-O Company in 1923. Two years later it later merged with Postum Cereal, and eventually, that company became the behemoth known as the General Foods Corporation, which is now called Kraft/General Foods. The gelatinous aspect of the food made it a popular choice among mothers when their children were suffering from diarrhea. In fact, doctors still recommend serving Jell-O water—that is, unhardened Jello-O—to children suffering from loose stools.

Special Education Needs - 3359 Words

What has changed? For one fictional child with a particular SEN, describe the educational support available to them in 1960, and the support they would receive today, discussing what has changed and why. In this essay I am firstly going to write about what is meant by the term special educational needs; then I will talk about the history of my chosen topic which is autism; when it was diagnosed, who diagnosed it, how labelling can affect a child suffering from autism, and what treatments are available to assist autistic people in leading some-what normal lives. I will also write about the medical and social model, what they are and how they relate to SEN, I will then write about the SEN Code of Practice and special educational needs†¦show more content†¦Some common signs of children suffering from autism are they tend to withdraw and become silent or unresponsive, they throw tantrums to block out smells, sounds, touch and sights which they find disturbing (Brill, 2008) and they take longer to reach the common stages of childhood e.g. walking and talking; autism halts normal progression (Brill, 2008). The autistic spectrum sometimes occurs along with mental retardation and la nguage disorders therefore educational planning must address both autistic needs and the needs associated with accompanying disabilities (Brill, 2008). By the 1960’s autism was finally identified as a disorder of its own; in 1965, Dr O. Ivar Lovas and colleagues at a university developed a treatment for autism called applied behaviour of analysis (ABA) (Freedman, 2009); ABA is the use of techniques and principles to bring about a good change in behaviour (Freedman, 2009). ABA focuses on the principles that explains how learning takes place e.g. through positive reinforcement; if good behaviour is followed by a reward the behaviour is more likely to be repeated. This technique could be used not only in the classroom but at home by parents (Freedman, 2009). ABA has become a very popular and widely known treatment for autism through the years especially through the last decade where it has been used to help autistic people lead normal and productive lives.Show MoreRelatedSpecial Needs For Special Education951 Words   |  4 Pagesthe total number of students with special needs in the United States has grown from 1990 through 20 05. Studies from the Individuals with Disabilities Education Act (IDEA) show that there are 4.8 million children enrolled in public schools who received special education between the ages of 3-21. The studies show that in 1990 the percent of children receiving special education in the school was 11 percent, while in 2005 the amount of students receiving special education grew to 14 percent. Actual studiesRead MoreSpecial Needs For Special Education1028 Words   |  5 Pages Fitzgerald (2015) reported that it has been an increase of children identified with special education needs in different countries in Europe. One of the explanation for this influx is the definition of special needs recently changed, which caused more children to fall under that category. Since more children qualify for special education, professionals and parents need training and guidance on meeting the needs of those students. In Ireland, there is a challenge in finding the best comprehensiveRead MoreSpecial Education For Special Needs1336 Words   |  6 PagesSpecial education can become very costly even up to four times more than ordianry education. Many tools are needed such as speech pathologists, phychologists and teachers, and sometimes speech facilities and equipment Many schools feel they are not suited to work with the students therefore they are hesitant to take on the challenge. However, many parent’s opinions on special ed learning shows that they favor it over home schooling and other options. There are many different choices for parentsRead MoreThe Education Of Special Needs3725 Words   |  15 Pages The Education of Special Needs in Public, Private, and Charter Schools Jerissa R. Gregory Liberty University Abstract Education is important to all children, but teaching children with special needs entails the educator to examine and assess the social, behavior, intellectual and academic deficits of the student and devise an instructional plan that will support their excellence in these areas. Teaching in a classroom with children who have disabilities pertainsRead MoreChildren with Special Needs in Education1079 Words   |  4 PagesSpecial (adj.): better, greater, or otherwise different from what is usual. Children with special needs have some form of disability whether that be a learning, behavioral, physical, or emotional disability. These children need certain accommodations to help them reach their academic and social goals in school. There are many different types of disabilities, Dyslexia, Attention Deficit Hyperactive Disorder, Mental retardation, Autism Spectrum Disorders, and each one has a completely different effectRead MoreFunding For Special Needs Education946 Words   |  4 Pa geseven a person at school with learning disabilities? What if I told you, the help that person need to learn better and assist them with their disabilities would be taken away from them. Around the country budgets cut have been made, especially harming the programs for special needs students. The total amount that has been cut cross nation from this program, is ridiculous, $578,892,762 (www.special-education-degree.net). Here in Illinois, we have been one of the states that s been most struck by thisRead MoreThe Effects Of Special Education On Special Needs Students1505 Words   |  7 Pagesand policies related to special needs students are set in place to assist in providing an appropriate education in the most least restrictive environment possible for special needs students. A Law is defined as a rule that is created by the government of a town, state or country. A law is created in hopes of settling a cause. Within the past 25 years laws pertaining to Special Education have evolved for the better of special needs students around the countryRead MoreThe Role Of Special Education For Children With Special Needs1289 Words   |  6 Pageschildren with special needs may experience good mental health in supportive environments that support their strengths. I believe that children beneï ¬ t from having positive relationships and feel a sense of belonging at school. These positive experiences are important for children with special needs. Like all teachers, special education teachers must be organized, patient and able to motivate students. Since they work with students who have one or more disabilities, special education teachers mustRead MoreSpecial Needs Children and the Special Education Program Controversy1409 Words   |  6 PagesSpecial education is such a broad and sensitive topic to talk about as well as the several issues that come with the Special education topic. And although there are a variety of issues, such as: special education children being accepted, segregated from their peers, the financial ability to support many special education programs, and the fact that a lot of teachers are not properly certified and do not know how to handle special needs children; there are also many resolutions. Special educationRead MoreEssay about Special Needs Education999 Words   |  4 Pageschild with mental retardation. Schooling for the disabled requires a special environment—one that only a few teachers have the gift to care for. Instead of looking out for the child’s needs, the government is focused on passing test grades and social skills. Mentally retarded children require a highly trained special education teacher, patience for behavioral issues, and are also required to pass standardized tests; public education for these students move at a faster pace than they can comprehend and

Common App Fallacy free essay sample

In the essay Common App Fallacy, the author states that getting into college by using Common Application will not help fulfill students individuals qualifications and searches. He argues that it only exists as a cheap system to create money and it saturates the applicant pool. Beres makes a lot of interesting arguments against Common Applications, although he does not provide credible proof rather just persuading the reader to agree.   Ã‚  Ã‚   Beres opens this essay with data stating New York University only accepted 11,000 students out of 34,000 applicants. To further build his argument he informed the reader that his friends with a GPA that resembles the population of China and extracurriculars that make Jimmy Carter look like a lazy old coot (Beres, 79)   werent able to access their desired schools. Beres explains that striving for higher education is a common and competitive goal. The creators of the Common App tried to solve this by allowing students to photocopy their applications and send it to as many colleges as they can and hopefully get accepted into any one of them. We will write a custom essay sample on Common App Fallacy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Fundamentally, Beres argues that students apply to whatever school with higher education without worrying about being interested in the subjects. He continues arguing against the Common App saying that it diminishes students individuality and special characteristics that would shine in a letter of recommendation. Beres adds that the students are not at fault for the college board and several universities advocate the use of the Common Application. He backs it up by informing us that the College Board allows students to project their SAT scores to numerous colleges and how the Common App is able to transfer a multitude of applications with the click of a mouse. Beres then states that if they should keep using this form of applying to colleges, then they should fully indulge in the greed. He explains that this system was mostly intended to make money, so the Common App should charge more to send out scores and applications to discourage students from sending them out with reckless aba ndon. (Beres, 80). In summation, this may be the only solution to encourage students to try and find the place best suited for them. Throughout the essay Beres brings up accurate and credible statistics and then he also adds some questionable data. When arguing about students not being able to get into the schools they deserved, he added that he asked people the average amount of schools they applied to seems to be around 10, though many that I know have applied upward of 16 (Beres, 79). He does not include how many people he asked. It may have been three people he interviewed. He did not even bother to add on who these people were and their background, therefore not credible information to use in a argument. Although some information that he provided wasnt reliable, he did bring up a few dependable statistics. He states that colleges have disclosed that applications have grown over the years. He adds that it is a good and bad occurrence because it would mean students are intrigued with higher education or it could mean that some students are settling for a college because they arent getting into their dream school. This information makes sense, because it couldve only gone one of those two ways. It was an educated assumption and I enjoyed that he shared it with the reader. Fast forwarding to the end of the essay, Beres dabbles in using emotions and evoking sympathy from the audience. He says maybe the College Board and the Common Application should go all out. .and charge more to send out scores and applications to discourage students to sending them out with reckless abandon (Beres, 80). This statements digs a hole into chest. It makes me feel like after his whole argument he is just going to give up. He just presented us with all this information and if he feels too defeated to do something about it then the audience should take the situation into their hands and try to demolish the use of Common App. His argument in this portion fluctuates between being good and bad. This statement was powerful and it made me feel something, but its going to much into my emotion he forgets to implement a logical explanation. To finish off his emotional ruse, he ends his essay with an analogy about winning the lottery and getting accepted to a college. He states that Princeton University accepted 1,838 out of 18,942. I have about a one-in-five chance of winning on a Crazy Cash scratch-off ticket. (Beres, 80) Arguing that students should have a better chance of getting into college than winning a lottery. The essay The Common App Fallacy by Damon Beres brings up several interesting points that I agree with. The Common App should no longer be an option for applying to colleges because it only saturates the application pool and lets students become lazy. It overshines students uniqueness. Beres is very good at trying to persuading the reader, but only that. He fails to bring up a good amount of correct and credible sources to support him.

Arab Identity The views of Sayyid Qutb, Sati al-Husri and Taha Hussein Essay Example

Arab Identity: The views of Sayyid Qutb, Sati al-Husri and Taha Hussein Paper The first text in question is Milestones by Sayyid Qutb. One of the pioneers of the idea of Muslim Brotherhood in Egypt, his martyrdom for his cause has enhanced his standing in contemporary Islamic revivalist movements. Qutb is a passion advocate of his beliefs about nationality in the Islamic context. He begins his essay emphatically by stating â€Å"The day Islam gave a new concept of values and standards to mankind and showed the way to learn these values and standards, it also provided it with a new concept of human relationships. Islam came to return man to his Sustainer and to make is guidance the only source from which values and standards are to be obtained, as He is the Provider and Originator. All relationships ought to be based through Him, as we came into being through His will and shall return to Him†¦Islam came to establish only one relationship which binds men together in the sight of God, and if this relationship is firmly established, then all other relationships based on blood or other considerations become eliminated†. (Qutb, 1981, p.117) We will write a custom essay sample on Arab Identity: The views of Sayyid Qutb, Sati al-Husri and Taha Hussein specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Arab Identity: The views of Sayyid Qutb, Sati al-Husri and Taha Hussein specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Arab Identity: The views of Sayyid Qutb, Sati al-Husri and Taha Hussein specifically for you FOR ONLY $16.38 $13.9/page Hire Writer It is quite obvious from the above passage that Sayyid Qutb’s views on national identity are quite liberal. Indeed, he is one of the more progressive thinkers in the Arab world, who put shared heritage ahead of recent sectarian divergences. His essay seems to suggest that the ‘cause of God’ is the highest principle of aspiration for the Arab faithful and any other goal would be decidedly deficient. Rather than disparate identities within the Arab world, Qutb believes in a pan Arabic Islamic state, where the Shariah law would be the ultimate authority for conflict resolution. The world beyond the Islamic state would be regarded as the Dar-ul-Harb, the perpetual home of hostility bordering on warfare. Even when it comes to family relationships, Qutb places the Creator ahead of mother, father, brother, wife and other human relations. He qualifies his views by adding that the strong affinity to the Divine need not impel a Muslim from treating his parents with kindness and consideration. However, if they (human relatives) â€Å"openly declare their alliance with the enemies of Islam, then all the filial relationships of a Muslim are cut off and he is not bound to be kind and considerate to them.† (Qutb, 1981, p.118) Thus Sayyid Qutb offers a nuanced interpretation of the holy texts in laying out divinely mandated codes for the Islamic community. In the example of Abu Lahab and Abu Jahl, we see two brothers united by faith than by blood. Their relationship created a new brotherhood of Muslims that included both Arabs and non-Arabs. â€Å"Suhaib from Rome and Bilal from Abyssinia and Selman from Persia were all brothers. There was no tribal partisanship among them. The pride of lineage was ended, the voice of nationalism was silenced, and the Messenger of God addressed them: â€Å"Get rid of these partisanships; these are foul things. He is not one of us who calls toward partisanship, who fights for partisanship and dies for partisanship.†Ã¢â‚¬  (Qutb, 1981, p.123) Hence, it is amply clear what Sayyid Qutb’s stance on nationalism and sectarianism is in the context of Islam in Arabia. The article by Sati al-Husri presents a slightly different perspective on contemporary Islamic affairs. His article titled Muslim Unity and Arab Unity concerns itself with identifying which of these two concepts of community should take precedence. Other questions relating to the issue are: â€Å"Is Muslim unity a reasonable hope capable of realization? Or is it a utopia dream incapable of realization? And assuming the first alternative, is its realization easier or more difficult than the realization of Arab unity?†, etc. (al-Husri, p.148) Sati al-Husri goes on to answer these questions by taking a historical and cultural take on factions within Islam. He observes that major religions of the world have not been able to unite peoles speaking different languages. This is most clearly evident from the attempts made by the Christian Church across its history. This is equally applicable to the Muslim world, where â€Å"the political unity which existed at the beginning of i ts life was not able to withstand the changes of circumstance for any length of time†. (al-Husri, p.150) Even the most powerful Abbasid caliphate could not hold together the lands ruled by it for long. At times, it could not preven the secession of provinces into smaler politically coherent units. Hence, political unity was never fully accomplished in the past, at a time when society was organized in a simple fashion and religion assumed a greater importance in all affairs of life. That makes the task of pan Arab unity in the contemporary socio-political context even more improbable. In the word of al-Husri, â€Å"it will not be possible to realize political unity in this century, when social life has become complicated, political problems have become intractable, and science and technology have liberated themselves from the control of tradition and religious beliefs.† (al-Husri, p.151) In this context, modern proponents of Islamic political unity across Arabia will have to pay attention to historical evidence as well as geographic constraints. Also, the author prudently warns, â€Å"whoever opposes Arab unity, on the pretext of Muslim unity, contradicts the simplest requirements of reason and logic, and I unhesitatingly say that to contradict logic to this extent c an be the result only of deceit or of deception.† Hence, in al-Husri’s view, aspiring for Islamic Brotherhood (a notional construct) is a more feasible and practicable goal than Islamic unity across Arab and beyond. In The Future of Culture in Egypt, author Taha Hussein looks into the particular case of Egypt. Hussein’s approach is slightly different from the other two authors, in that, he sees culture as a powerful characteristic that unifies a group. To this extent he regards it to be as important as religion (if not overlapping with it). In trying to figure where Egyptian culture starts to deviate from the contrasting Western culture, Hussein notes â€Å"the essence and source of Islam are the essence and source of Christianity. The connection of Islam with Greek philosophy is identical to that of Christianity. Whence, then, comes the difference ni the effect of these two faiths on the creation of the mind that mankind inherited from the peoples of the Near East and Greece?† (Hussein, p.8) This sort of deep inquiry has implications for the question of nationality in Arab geopolitics. The analysis offered by Tara Hussein also brings a measure of balance to the study of rel igion in Arabic countries, as he analyzes its founding and function as a necessity within the historical realm. In conclusion, the three authors whose texts were analyzed for this exercise – Sayyid Qutb, Sati al-Husri and Taha Hussein, all offer interesting perspectives on the role and relevance of nationality, religion and culture in the contemporary Arab scene. They all espouse erudite interpretation of the current problems facing the region and offer liberal resolutions. These solutions have at their core a philosophy of tolerance, cooperation and compassion toward the larger Islamic Brotherhood, which transcends the confines of Arabia and includes the global Muslim Diaspora. Works Cited: Sayyid Qutb, Milestones, Unity Publishing Co, Cedar Rapids, Iowa, 1981 Sati al-Husri, Muslim Unity and Arab Unity, Arab Nationality: An Anthology, p. 147-153. Taha Husein, translated by Sidney Glazer, The Future of Culture in Egypt, p.1-9.

Investment Incentive in Bangladesh Submarine Cable Network Essay Example

Investment Incentive in Bangladesh Submarine Cable Network Essay Example Investment Incentive in Bangladesh Submarine Cable Network Paper Investment Incentive in Bangladesh Submarine Cable Network Paper Investment Incentive in Bangladesh submarine cable network Self Introduction Bangladesh Submarine Cable Company Limited (BSCCL)  ( bsccl. com. bd/) having its Principal office at Telejogajog Bhaban 37/E, Eskaton Garden, Dhaka-1000 is the only company dealing with submarine cable business in Bangladesh. It has been incorporated as a Public Limited Company in 2008 It deals in provisioning of telecom infra structure service primarily via submarine cable and domestic high capacity optical fiber networks. Company is wholly responsible for Operation and maintenance of Bangladesh’s lone SEA-ME_WE 4 (www. eamewe4. com). It is a submarine cable system installed between Singapore and Marseilles France , having a total of 16 consortium members from 14 countries. Its total length is approximately 18,800KM and it provides basic internet backbone between South East Asia,, India, Middle east and Western Europe. Company is mainly responsible for realizing the concept of â€Å"Digital Bangl adesh† by the year 2021. Fig 1 (SEA-ME-WE 4 Network Diagram) [pic]Its main products are IPLC (International Private Leased circuit) in both half and full circuit categories and IP transit. The former product is a point to point physical international connectivity designed for the specific use of Internet Service Providers (ISPs), corporate customers, Banks and educational institutes whereas the later product provides the internet backbone. It’s main customers include BTCL, Bangla Tech, Novotel, Mir telecom,Orange telecom and all IGWs, IIGs, ISPs etc. Bangladesh, An Introduction: Bangladesh is strategically located in South Asia and borders between 24 00 N, 90 00 E with India in The east , west and north except for a small border in extreme south east with Myanmar (Burma). Bay of Bengal touches the south and south eastern shores of Bangladesh. It has an area of 143,998 SQ KM1 and is ranked as 94th biggest country2 in terms of area). Bangladesh is the  seventh most populous country3 and is among the  most densely populated countries  in the world with a high poverty rate. Politically, ever since independence in 1971, it has remained a victim of political turmoil including military coupes. However, after restoration of Democracy in 1991, country is enjoying a relative calm and economic progress and has been included in the Next Eleven4 economies in 2005. Key Macro Economics Indicators: As per table 1, shown below, Bangladesh GDP has enjoyed an average growth of more that 6% since 2006 and the forecast for 2011-12 is even better at 6. 5 %. Table 1 |Indicators |Actual |Revised |Projection | | |2006-07 |2007-08 |2008-09 |2009-10 |2010-11 |2011-12 | |GDP deflator |6. 8 |8. 8 |6. 4 |5. |5. 5 |5. 0 | |Average inflation (CPI) |7. 2 |9. 9 |7. 0 |6. 5 |6. 0 |6. 0 | Source:  Bangladesh Economic Review, 2009,  Ministry of Finance, GoB Average inflation (CPI) from 9. 9 in 2007-8 to 6. 5 in 2009-10 and it is predicted that it will further drop to 6. 0 for the fiscal year 2011-12. Gross investment (as percentage of GDP) has increased from 23. 6% in 2009-10 to 24. 3% in 2010-11 and it is estimated that it will increase to 25. % in 2011-12. Why Bangladesh There are a number of reasons, why investment should be made in Bangladesh. They are discussed as follows [1] (https://www. cia. gov/library/publications/the-world-factbook/geos/bg. html) [2]qq (https://www. cia. gov/library/publications/the-world-factbook/rankorder/2147rank. html? countryName=BangladeshcountryCode=bgregionCode=sasrank=94#bg) [3] (http://en. wikipedia. org/wiki/Bangladesh) [4](http://www2. goldmansachs. com/ideas/brics/book/BRICs-Chapter13. pdf,Page #161) . 1. Strategic location: Strategically located at the gateway of South Asia and Asian tigers of ASEAN region, Bangladesh provides an easy access to the booming economies of India and China which combined with the Bangladesh, provides a total of more than 2 billion people. 2. As per table 2 below, the internet penetration in Bangladesh in only 0. 4% whereas for developed countries like Korea , it is as high as 81% suggesting a room for an extremely explosive growth in the coming future. Table 2 Name |Population ( 2010 Est. ) |Internet Users, (Year 2000) |Internet Users, Latest Data |Penetration % Population) |User Growth ( 2000-2010 ) |Users (%) in Asia | |Bangladesh |158,065,841 |100,000 |617,300 |0. 4 % |517. 3 % |0. 1 % | |Source: ( internetworldstats. com/stats3. htm#asia) 3. As per table 3 4 below, according to a survey conducted by JETRO Japan, Dhaka offers the lowest cost for monthly wages of workers and mid level engineer. Table 3 [pic] Table 4 [pic] Source:  The 20th Survey of Investment-Related Cost Comparison in Major Cities and Regions in Asia JETRO ©, April 2010. Investment Plan: SMW4 consortium is planning for a third upgrade by the end of 2010. The total cost of up-gradation to be incurred by BSCCL is USD 07 million. The tendering process has been completed and the contract is going to be awarded to the US vendor tentatively by the first week of Dec 2010 and the tentative RFS date is last quarter of 2011. The project is going to be started at the start of fourth quarter of 2010, however, due to some technical hitch, which involves unsuccessful lab demo of the 40 Gbps per wavelength by the US vendor, the project is delayed. After the successful upgrading BSCCL will get a capacity of more than 3. 5 million MIU KM5 and the cost of per MIU KM is below the US$ 2. 5 which is one of the lowest per unit investment cost in any submarine cable. MIU KM is an abbreviation for Minimum Investment unit Kilometer. For example, for SMW4 cable, one MIU KM is equal to one STM1 per KM along the length of the cable. The increased capacity will help us to meet the ever increasing demand of international bandwidth by a variety of applications inc luding the broadband users, ISPs, financial and educational institutes. It is estimated that by 2013, we will successfully recoup our said investment. [5] ( freebase. com/view/en/miu_km)

Monetary policy Research Paper Example | Topics and Well Written Essays - 1750 words

Monetary policy - Research Paper Example It lays a vital role in opening up the financial market of a country. It also has supervisory powers, aimed at limiting banks and financial intermediaries from reckless behaviour. In developed nations Central banks are independent so that they operate under rules made to help them operate in a political free management (Kurgan and Wells 387). Therefore, this paper aims at obtaining a deep analysis on the role of central bank in use and implementation of monetary policy to stabilize the economy. This will be with respect to the great depression of 1929 to early 1940s. Monetary policy is the mean through which the monetary tools of a country control the flow of money. It mostly focuses on the rate of interest with an aim of promoting economic growth and stability. It is key role is to sustain, stable prices and maintain low levels of unemployment. Monetary policy can either be expansionary of contractionary. Expansionary policies increase the supply of money in the economy while the co ntractionary measurers reduce the total money supply to the economy (Bofinger, Reischle and Schachter 123). Expansionary policy is theoretically used to control unemployment in a recession by lowering interest rates in the view that easy credit will motivate businesses into expanding. Contractionary policy is intended to slow inflation in a view of curbing the resulting deterioration and distortions of asset values. The Monetary policies advocated by the central bank helps in fostering the growth of financial market by encouraging open market operations. It is the most used tool by the central bank of each country to correct any economic disorder or to set the pace of a country economic growth (Bofinger, Reischle and Schachter 170). Economic depression is an economic slowdown where the gross domestic product is expected to decline at around 10%. To give rise to greet economic depression, the gross domestic product was believed to have declined by at least 33% per annum. This is the worst in history so far. Economic depression is characterized by; reduced consumption by individuals and the government, increased liquidation of the banking system or narrowing of financial market to the extent that it cannot allocate capital inflow to various sectors of the economy, high levels of unemployment expressed in two digits, insolvency of economic driving companies, a reduction in the wage rate for example, during the great economic depression it reduced sixty percent and acute shortage of money supply in the economy. Thus, depression can be defined as a recession that lasts longer and has a massive decline in business activity thus a slowdown in economic growth (Bofinger, Reischle and Schachter 213). Central bank and monetary policy with respect to the great depression of 1929 to early 1940s can be analyzed from different views. The great depression lasted for 10 years. This occurred when the shares traded in a day tripled followed by a drastic fall in price by about 24 %. The great economic depression was characterized by an increased rate in unemployment which increased by 22% of the total country workforce. The total gross domestic product reduced by half as the price fell by 10%. The depression also caused farmers to lose their farms, and this made them together with the unemployed to move to urban areas in search of daily earnings, this lead to development of shanties thus creation more problems. There were massive bank failures and

Financial Markets Assignment Essay Example | Topics and Well Written Essays - 2000 words

Financial Markets Assignment - Essay Example He classified it into three levels based on the definition of available information: weak, semi-strong and strong forms. He further suggested three models for testing market efficiency: the Fair Game model, the Submartingale model, and the Random Walk model. The weak form of EMH attracted all the attention of empirical research in both developed and emerging markets results. This is because if evidence fails to support the weak-from of EMH, stricter forms of EMH would consequently fail (Wong and Kwong, 1984). The weak form of EMH considers a market to be efficient if information contained in past prices is already reflected in current market prices. Information from historical prices would not enable market traders to make superior returns as this information is already accounted for in current prices. The semi-strong form of EMH considers a market to be efficient only if current market prices reflect all publicly available information, such as information on interest rates, dividends announcements, quarter and annual earnings, etc. Thus market traders would not make superior returns from analysis of market information because market prices will immediately adjust to new news. If all market information is immediately reflected in market prices, even private information (inside information) and market participants could not benefit from such knowledge, the market is referred to as strong form of EMH. This assumes that the cost of inside information is zero. This assumption does not exist in reality and thus the strong form of EMH is not likely to hold. Statistical Testing of EMH: The efficient market hypothesis was tested by a number o f statistical test such as autocorrelation, runs test and variance ratio tests. Data: The data used to test for weak form EMH was collected from Yahoo Finance (2008). Historical daily prices for British Petroleum from the British Stock Market were collected 1st of January 2003 to 3rd of November, 2008. This data contains opening price, daily high, daily low, closing price, daily traded volume, and an adjusted close price. Data representing the market is represented by the FTSE 100 British index. FTSE 100 is an index of the largest 100 firms in the UK based on market capitalization. Historical daily prices for FTSE 100 were collected from 1st of January 2003 to 3rd of November, 2008 from yahoo (2008). Daily return is computed by using the following equation: Return (rt) = closing price at any day (pt) - closing price at day before (pt-1) A natural logarithmic transformation is performed on all data of BP and FTSE 100. Daily returns are computed by using the following equation: Return (rt) = closing price at any day (pt) - closing price at day before (pt-1) To generate a time series of continuously compounded returns, daily returns are computed as follows: rt = log (pt) - log (pt-1) = log (pt/pt-1) Where return at some day: rt Closing Price at day (t): pt Closing price at day