In the preparation of agarose gel, agarose powder will be...

In the preparation of agarose gel, agarose powder will be mixed with buffer. Agarose powders need to be weighed first before mixing it with buffer. When 1 gram agarose gel is added, it will be followed by 100 ml of buffer. The ratio is 1:100 for agarose powder and buffer respectively. Then, the solution of agarose powder and buffer is put in the microwave in order to melt the agarose until the solution become clear (Carson Robertson, 2005). Agarose gel is poured in the casting trays. Actually casting trays is available various in sizes and made of UV transparent plastic. Finally, the comb is used to make well in the gel where the dyed DNA will be loaded. According to Bio Rad (n.d.) comb is placed in slots on the casting tray. Usually,†¦show more content†¦Besides, EtBr also function to alter DNA mass, rigidity and mobility, so it is one of the best factors that affect the mobility of the DNA. EtBr need to be stored in the dark because they are sensitive to light. To mix DNA sample and loading buffer, usually Parafilm is used. The sample will be pipette on the mini-gel. After that, the tank lid is placed, the current will be applied. When stained with Ethidium bromide, the gel is viewed with an ultraviolet (UV) transilluminator (Environment, Health Safety 2010). Usually for standard transilluminator it will use the wavelength of 302/312-nm (UV-B). Then, the DNA fragment will migrate through the gel and illumin ation with the UV light will cause the intercalated dye to fluorescent with a pale pink colour. The exposure of the UV light should be limited because exposure over the time limit will cause the DNA to damage. Then, the transilluminator setting will change to the highest in order to photograph the mini-gel (Farrell, 2010). The larger fragment will fluoresce more intensely compare to small fragment because larger fragment has more mass of DNA so it will take up more dye. In this Agarose Gel Electrophoresis (AGE) Analysis, we run our entire DNA from the previous experiment 2A, 2B, and 2C; bacterial, plant and also animal’s DNA sample. Based on the Figure 1(focus on the red circle), the separation of DNA fragment for 7a, 7b, and 7c from the AGE diagram

Research Project Assignment Essay - 2194 Words

TABLE OF CONTENTS PAGE NUMBER 1. P2 Justify the chosen methodology in terms of research question--------------------2 2. P1 Proposed Research Topic-------------------------------------------------------------------2 3. P3 Time line for the research-------------------------------------------------------------------3 4. P4 Ethical Guidelines-------------------------------------------------------------------------------3 5. P5 Primary and secondary research relating to the proposal----------------------------3 6. P6 Describe and justify the chosen methodology------------------------------------------4 7. P7 Prepare for the research project process and action plan with supervisor---4/5 8. P8 Monitor and revise†¦show more content†¦The reporting method was explained on the last page of the questionnaire. The participants were given a telephone number to call if they had any additional questions about the project. P5 Primary and secondary research relating to the proposal: In my research work I will not use any secondary data or information and instead where I will use my findings out of my primary research. The purpose of this survey is to establish a better understanding of the local business opinions of the Community Events War Chest and to discover the degree of support or of opposition to this account. The Community Events War Chest account was first examined through board meetings, where members and representatives met to discuss the status of the account. They found that quantity and quality of information needed to correctly estimate local business interest in the Community Events War Chest could not be obtained through committee or member meetings. The purpose of this survey is to find the needed information to assess whether or not the account should be maintained. 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Turner Test Prep Co. free essay sample

1. Assuming the fixed costs are borne by the Turner Test Prep Company on an annual basis regardless of the fact that CPA exam preparatory sessions are held only two times a year, the detailed costs expenses can be categorized into fixed and variable costs as follows: For the break even analysis, the business operation should generate just enough revenue to cover the operating expenses (without any loss or profits). The case states $1,100 per student as the fee schedule. In this case, breakeven point can be expressed as: Fixed Costs + Variable Costs = Revenue. Thus, 139200 + 600X = 1100X Solving for X, X = 139200/500 - 278. students annually or 140 students/session for biannual session schedule. So, Jessica Turner’s breakeven point considering $1,100 in fees per student is at least 140 students/session or 280 students annually to cover for the business expenses without making any profit or incurring a loss. 2. Turner test prep’s competitive advantage lies in offering the following services: †¢Live classroom sessions along with audiotapes of the lectures for later review †¢One-on-one feedback sessions with Jessica Turner on a bi-weekly basis to track progress The result of these services provided a 100%, 70% and 80% pass rate for the last three sessions. We will write a custom essay sample on Turner Test Prep Co. or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page NTC program boasted a 75% pass rate. Turner test prep company should continue with the services mentioned above. The focus going forward should be to improve marketing and promote the higher passing rate. NTC has been around for a longer time and unless Turner Test Prep Company advertises its strong unique points, it would be difficult to sway customers away from NTC. 3. To achieve greater market share, Jessica Turner needs to improve the quality of the services considering customer’s profile and possibly expanding the geographical market to include additional areas in addition to the bay area. MARKETING EFFORTS EXPANSION: Higher passing rate should be a stronger ‘sell’ point. A survey system can be established to collect the feedback from the past students and gather additional information on previous attempts at the CPA exam. This would help to get a better understanding of the CPA exam passing rate for past students. Testimonials from these surveys can be also be used to market the company better. A reward system based on referrals from current and past students would help in promoting the Turner Testing Prep Company better. Knowing the break-even point and the competitive fees that can be charged to the students, Jessica can now plan on the profits and the number of students required to get there. This would probably necessitate expanding the business to other areas as well in addition to capturing students from the competition. †¢SERVICES IMPROVEMENT: As described in the case, Jessica was already thinking about offering some flexibility in the comprehensive program. Tailoring the program offerings to the customer’s requirements would enhance the students’ performance at the CPA exam.

Five Forces Analysis for Mobile Telecommunication in Australia

Question: Discuss about theFive Forces Analysisfor Mobile Telecommunication in Australia. Answer: Introduction Five forces analyses also known as Porters Five Forces model refers to a framework whose aim is to investigate the various levels of competition within an industry and used to develop a business strategy (Porter 2008). This depends on industrial organizational economics that determines the competitiveness and profitability of an industry. This analysis was developed by Michael E. Porter of Harvard University (Grundy, 2006). He came up with this analysis in relation to then SWOT analysis (Strength, Weakness Opportunities, and Threats) that he established not being accurate and provisional. This forces or the microenvironment as referred to as by Porter, consist of forces that affect the ability of an industry to deliver to its customers and generate profits. (Barton and Teicher, 1999). Any adjustment of these factors makes the industry re-evaluates its market given the overall change in industry information. This strategy has been used to the different scope of obstacles; from aiding enterprise making lots of profits to aiding states maintain businesses. This paper will focus the analysis on the telecommunication industry in Australia, the market definition and highlight the five forces and the dangers to the industry. It will also summarize the threats of these forces to the profitability of the business. Five Forces Analyses Five Forces Analysis or Porters five forces that recognize study and help to evaluate the strengths and weaknesses of an industry are: Rivalry in the trade; Power of the suppliers; Buyers power; Potential of new market players; Substitute products threat. They are further put into two categories of these forces; horizontal and vertical. Horizontal forces include; rivalry/ competition, substitute products threat and the threat of new businesses while Vertical forces include the buyer buying power and supplier power. Industry Overview Telecommunication industry in Australia is performing strongly over the years and the daily innovations provide ground for continued achievement. Telecommunications in Australia covers availability and utilization of electronic services and appliances or devices like telephone, radio, television and computer network, or telemetry with the sole aim of exchanging information and ideas over a distance. Telecommunications is a huge industry made up of three main sectors thus and other three smaller ones that are of increasing in importance: Hardware sector that builds and maintains the infrastructure like fiber-optic cables and as well end user devices like handsets. It comprises of the large international firms and smaller ones which mostly provide final user appliances. Carriage services providers like those supplying telecommunications services for instance internet access to the public using carrier network infrastructure. This includes carriers like Telstra, Optus, Vodafone and Hutchison and many others that own and provide mobile network as well as various resellers and mobile network operators. It is the biggest single section in the mobile telecommunication industry (Fairholm, 2009). Retailers that offer mobile services to final end users on daily for Carriage service providers. Consumers can buy mobile telecommunication services and handsets from different retailers that are branded as well as retailer shops that sell the devices of various ranges of the products. Content providers, program developers, and content aggregators are also of much significance. Content developers establish and supply of entertainment information of phone devices. Content aggregators control numerous content providers and aids like sourcing, reporting, quality control, cross referencing and formatting of multiple streams. Program developers create new uses that create more market opportunity for all the players involved that is content providers, content aggregators as well as themselves. In this study we will confine the frame of the analysis only to the mobile telecommunication. The mobile telecommunication is clearly part of day to day life of individuals, communities and businesses over time. It has changed the way businesses are done by people and management of the lives daily.it also represents the scope of the revenue significance of mobile telecommunication as far as the economy at large and the telecommunication industry is concerned. Mobile telecommunication is high cost, high revenue industry that plays an important role in the growth contribution to a wider Australian economy of telecommunication industry. The Industry gross product of mobile telecommunication has greatly increased over the years. It is believed contribute largely to the revenue more than television services that is free to air industry and also more that newspaper publishing and printing sector. The industry contributes majorly to government incomes via the levies and industry specific change also the state industry taxes and standard commonwealth taxes. It is estimated the ongoing industry specific payments by the mobile telecommunications industry to the federal government are in the order of two percent of revenue annually. The industry contributes through compulsory payments and voluntary to support some associations like the telecommunication Industry Ombudsman among others. The increase in demand of the products and services provided by mobile telecommunication, there has been an increase of personnel to deliver quality products and services thus creation of more job opportunities. The mobile telecommunication accounted for 30 per cent of the total telecommunication employment in 2004 -2005. The capital expenditure of the mobile telecommunication has been huge. The industrys capital expenditure to support new network, expansions and upgrades to the existing networks has been continuous over the time. This makes the mobile services available to more populations in different places as well supporting of development of innovation. Mobile telecommunication industry revenues have been significant. In 2004-05, the mobile revenue represented 30 per cent of the total telecommunication revenue. There has been tremendous growth in telecommunications; the traffic in networks growing faster in this time and era and digital technology changing our world. The Industry keeps evolving and advancing daily in technology and communication over the years. The industry developments continue to be driven by competition, innovation and customer wants and needs. Strategies and policies for these industries to stay relevant and profitable in the global market revolve around the Porters Five Forces model (Eom, 2006). Rivalry or Competition in the Industry: High Like other industry, the intensity of competition is the biggest determinant in the telecommunication industry. The competition is stiff majorly because of telecommunication companies supplying relatively similar products. The factors that a rival business may cause include; competition through innovation, high level of advertising, firm concentration ratio, customer analysis, and powerful competition approach among others. The major competitors in the telecommunication industry include Vodafone, Orange, Optus, and Primus among many more others. Buyers and suppliers explore companys competitor if they are unable to get a suitable deal. With the high number of competitors with the same kind of products and services, each different player has had to claim their best position in the telecommunication industry, by delivering excellent customer experiences, excelling in the things they do that they are good at and making changes that ensure their business is sustainable, efficient and pro fitable (Pucko Cater, 2008). Suppliers Bargaining Power: Moderate It is also referred to as market of inputs. The bargaining power is high for sellers of the latest technology and devices. Telecommunication companies cannot afford to lose to the competitors as many of the consumers determine buying of these devices and technologies and sellers of specific items are limited. This includes components, raw materials, labor and services like expertise. Suppliers can easily escalate the prices of goods and services. It is influenced by numbers of the suppliers of key elements of a service or good, the uniqueness and how much it would cost a company to change its supplier (Brown, Fee and Thomas, 2009). If there are few suppliers, the company relies more on a supplier thus the suppliers hold more power. Suppliers may choose not to work with the firm or overprice their unique resources. Some of the potential factors include; the level of differentiation of inputs, weakness and strength of distribution channels, availability of substitute inputs, the cost o f inputs and supplier competition among others ( Aitken Kathryn, 2014). Bargaining Powers of Customers/Buyers: High This is the ability of buyers to affect the prices of a service or commodity; it is also known as market outputs. The buyers can put the industry under duress, which in turn affect buyers awareness in price changes of commodities and services of the firm. The bargaining power of the buyers is high when the relative ease of switching is put into consideration (Kempster, Higgs Wuerz, 2014). Some of the factors the influence the power of the buyers include; gross trading, the uniqueness of the products, availability of existing substitute products, the level of dependency on existing distribution channels, bargaining advantage, customer values studies, availability of information, client or customer base and buyer price sensitivity, among others (Crook and Combs, 2007). It is also influenced by the number of customers or buyers available, how of importance the customer to the industry and the cost of the customer is changing to another company. The fewer the customers, the more power t hey have. Firms may have strategies in place of reducing buyer power like implementing loyalty programs. There are so many similar product and service providers in the industry (Maritz, Pretorius Plant, 2011). The changing or switching in between the service providers is cheaper than before deregulation in 1997 has added pressure to the industry to provide quality products and services which are the key to a bigger clientele base (Eustace Martins, 2014). Potential of New Entrants into the Market: Low Any profitable markets with high yields attract new players in the market. This could decrease the probability of the firms in the industry. In this Industry, there is high barrier to making it possible to enter into the business Some of the various factors that could have an impact on magnitude of the threat of new business players could pose: legislative policies, capital requirements, patent rights, branding, customer loyalty, and accessibility to distribution, retaliation, probability of the industry, difference in products, scales of economies, product difference economies (Gerrand, 2016). The power of a markets new entrants may be weakened as it will find hard to stay in the competition. If an effective competitor uses less money and time to enter into the company market, the more the position of the company may greatly be weakened (Tebogo Steyn, 2015). Substitute Products Threat: Moderate Development and competition in technology have brought about reduced profit margins in the industry. There may be an existing product that could substitute a goods and service offered by one firm that may cause the customers to switch to the alternatives, for example from telephones to over the internet calls, telegrams to emails. Some of the potential factors that play a role with this threat include; buyer willingness to substitute, prices of the substitute, various substitutes available in the market, how easy the substitution is, availability of the substitute, depreciation in standards of the product or service, switching of costs by buyers, There has been a drastic reduction in prices in the market for local and long distance calls and mobile calls. This has led to a reduction in the prices of a range of telecommunication services resulting to reduced profits in the industry (du Preez van Zyl, 2015). Conclusion With the increasing trend of being independent on connected lifestyles, buyers are willing to pay for more unique and different conectivities.to meet these demands the mobile telecommunication have to in place digital technologies and strategies that integrate the core businesses. The telecommunication providers are offering state of the art, reliable and high quality services that are customer friendly with support on websites. The mobile telecommunication dominates the local call market and has a leading hold of a market share of another industry segment, this makes it yield a favorable profit to maintain its Research and Development and maintenance of the network. With market deregulation and profit decreases, mobile telecommunication will suffer a decline in profits. With a cost competitive measure in place, it would be critical for mobile telecommunication to maintain its market share while sustaining profits. In order to reach this strategy, the following essential features are most important factors needed to succeed: Corporate productive structuring by rationalizing business segments, it can definitely reduce operation cost, raise output and reduce the impact of industry environment and improve shareholder value. The human factor is very important. The common perception that involves improvement of staff commitment and customer services, granting customer value-added and integrated services at fairly low prices. Focus on investing in Research and Development and initiating new projects with a potential of making higher profits. Improvement of retail and wholesale sectors which make most of the profits for the Mobile telecommunication industry. Holding on to its market power in the segments by taking advantage of the current network capacity would put Telstra in a better competitive place. Enhancement of network infrastructure and operations that is transparent to the buyers/customers of the business vital measure to attract new customers. Companies such as Telstra believe when more people are connected, many opportunities arise. The main reason of creating connected future for everyone, every day. The customer experiences aim at delighting them by providing best services and products on one of the best networks, service, sales and network support. They aim to build simple and easy to use technology including the countrys fastest and largest mobile provider, thus drive value and growth from the focal point of view. The changes made ensure the focus of the business efficient, can be sustained and make profits putting in mind buyer and returns growth, superior networks and driving productivity by making business simple. The mobile telecommunication strives to serve and knowing its clientele better by offering a choice of digital connection and content. The mobile telecommunication industry dwells on building form the core skills and strengths. International enterprise ventures and expanding the International footprint. Telstra has increased its impact on the businesses in the region in that it currently has an International presence in 22 countries. References Aitken, K. Kathryn, v.T. 2014, "Organisational and leadership competencies for successful service integration", Leadership in Health Services, vol. 27, no. 2, pp. 150-180. Barton, R. and Teicher, J., 1999. The consequences of deregulation and privatisation for industrial relations in Telstra. Brown, D.T., Fee, C.E. and Thomas, S.E., 2009. "Financial leverage and bargaining power with suppliers: Evidence from leveraged buyouts." Journal of Corporate Finance, vol.15.pp 196-211. Crook, T.R., and Combs, J.G., 2007. "Sources and consequences of bargaining power in supply chains." Journal of Operations Management, vol. 25.pp 546-555. du Preez, R. van Zyl, L.,T. 2015, "Toward the development of a corporate social responsibility leadership questionnaire: An adaptation of the LBI-2", SA Journal of Industrial Psychology, vol. 41, no. 1, pp. 1-18. Eom, M.(2006), The impact of IS leadership on the IS unit's effectiveness, State University of New York at Binghamton. Eustace, A. Martins, N. 2014, "The role of leadership in shaping organisational climate: An example from the fast moving consumer goods industry", SA Journal of Industrial Psychology, vol. 40, no. 1, pp. 1-13. Fairholm, M.R. (2009). "Leadership and Organizational Strategy." The Innovation Journal: The Public Sector Innovation Journal, vol.14. no.1 Gerrand, P., 2016. "The Trollope of Australian telecommunications." Australian Journal of Telecommunications and the Digital Economy, vol.4. no.3 Grundy, T., 2006. "Rethinking and reinventing Michael Porter's five forces model." Strategic Change, vol.15. no.5.pp 213-229. Kempster, S., Higgs, M. Wuerz, T. 2014, "Pilots for change: exploring organisational change through distributed leadership", Leadership Organization Development Journal, vol. 35, no. 2, pp. 152-167. Maritz, R., Pretorius, M. Plant, K. 2011, "Exploring the Interface Between Strategy-Making and Responsible Leadership", Journal of Business Ethics, vol. 98, pp. 101-113. Nandakumar, M.K., Ghobadian, A. O'Regan, N. 2010, "Business-level strategy and performance", Management Decision, vol. 48, no. 6, pp. 907-939. Porter, M.E., 2008. Competitive strategy: Techniques for analyzing industries and competitors. New York; Simon and Schuster. Pucko, D. Cater, T. 2008, "A Holistic Strategy Implementation Model Based On The Experiences Of Slovenian Companies", Economic and Business Review for Central and South - Eastern Europe, vol. 10, no. 4, pp. 307-325,344. Tebogo, G.S. Steyn, R. 2015, "Innovation and organisational performance: A systematic review", South African Journal of Economic and Management Sciences, vol. 18, no. 3, pp. 325-337.

Macro Economics Analysis Essay Example

Macro Economics Analysis Essay Economics 100 Assignment option 2 Lecture: Ms Maria Lantzke Thursday 8. 30 am to 12. 30 pm Table of contents 1. Article summary †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 2. Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 3. Analysis .. 3 1. UK Inflation Rate †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 Definition of inflation †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Causes of inflation †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 2. Consumer price index †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Definition of Consumer price index †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5 Increasing CPI in UK.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. .5 3. Business cycle †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 Definition of Business cycle †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦.. 6 Business cycle in UK†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 3. 4 Interest rate and monetary policy †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 Expansionary monetary policy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Contractionary monetary p olicy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦.. †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 4. 0 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 9 5. 0 Reference list †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10 1. 0 Article summary This article called â€Å"UK inflation rate rises to 4% in January† was posted on February 15, 2011 by BBC. It displays increased inflation rate in Unites Kingdom. Indeed, The UK Consumer Prices Index (CPI) annual inflation rate rose to 4% in January. This CPI figure picked up highest since November 2008. Monetary policy committee (MPC) is considering a possible increase in the interest rate to try to cool inflation. However there are contrasting opinions about when the Central Bank should increase it. In addition, the article refers to the causes of inflation. Mr. King, the Bank of England governor, recognizes possible causes of inflation in the VAT rise, the fall in the pound and recent rises in commodity prices. However, Chancellor G. Osborne disagrees about the VAT rise as a cause of inflation. Furthermore, in this article there are more others causes of inflation: the high price of petrol and crude oil, global changes in the price of foods and commodities. 2. Introduction This report provides an analysis of inflation in UK with applying some economics theories. The inflation rate picked up 4% in January which is highest since November 2008. In this article there are four main concepts of macroeconomics, such as inflation and CPI, interest rate and monetary policy. The purpose of the report is to describe the economic problems in England, through the analysis of these economics theories. 3. 0 Analysis 3. 1 Inflation rate Inflation is the sustained increase in the general level of prices in the economic (Hubbard et al. 2010). It’s measured by the price level, which measures the average prices of goods and services in the economy. We will write a custom essay sample on Macro Economics Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Macro Economics Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Macro Economics Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The figure of percentage increase in the price level from one year to next is called inflation rate. In UK, the inflation rate rose above the 2% target. Bank of England governor, Mr. King, believes the inflation will rise towards 5% in the next months and MMC thinks that high inflation is just temporary as it will fall below the target in 3 years. However, Inflation below the target of 2% is judged to be just as bad as inflation above the target. Causes of inflation Inflation is usually categorized as demand-pull or cost-push. Demand-pull inflation is a rise in general price level in the economy caused by an increase in the aggregate demand and production levels are not able to meet the high demand immediately (Hubbard et al. 2010) Cost push inflation is a rise in general price level in the economy caused by a decrease in the aggregate supply of goods and services. Aggregate supply decrease when there is an increase in price of inputs, such as raw materials, equipments, machinery. [pic] Figure 1 Cost-push inflation Figure 1 shows the process of cost-push inflation; 1. The economy is riginally at equilibrium at point A, with the price level P1 and real GDP Y1. 2. A supply shock moves the aggregate supply curve to the left, from SRAS1 to SRAS2, which leads to a fall in real GDP below its potential level and a rise in the price level from P1 to P2 (Hubbard et al. 2010). The article refers to a rise of prices of petrol and crude oil, two essential raw materials, as two causes of inflation. The higher oil price affects others related with it such as cars, factories, any machineries operated by oil. And also mortgage interest payment has been increased from 4. 8% to 5. 1% as Retail Prices Index (RPI). There are no evidences about a rise in demand for goods and services. Therefore UK inflation can be considered cost-push inflation. 3. 2 Consumer price index The Consumer Price Index (CPI) is an average of the prices of goods and services purchased by the typical family. CPI is also called â€Å"cost of living index† as it measures the cost to the typical family to buy a representative basket of goods and services. Office for National Statistics (ONS) review â€Å"the â€Å"shopping basket† every year and decide which items taking outside and which bringing in, to reflect changes in the market (Topic guide to: Price Indices and Inflation. . d. ). Despite CPI is the most popular measure of inflation, it has some disadvantages as it cant measure the substitution bias, increase in quality bias, new product bias and outlet bias. . substitution bias: ONS assumes that consumers buy the same quantity of each product in the market basket each month, while consumers are likely to substitute a product, whose price goes up, with a cheaper one. . Increase in quality bias: products can improve in quality and therefore the higher prices will reflect also the higher quality of these products. However CPI cant measure quality of products. New product bias: ONS updates â€Å"the shopping basket† every year, but during this period of time a lot of new products, such as new technology tools, can come out in the market. However new products are not included in CPI. . Outlet bias: many people buy products from discount stores or via internet, while ONS collects price statistics just from traditional full-price retail stores. So CPI cannot always reflect the prices that consumers actually pay. CPI in UK rose to 4% in January, highest record since November 2008. According to the article, â€Å"The price of petrol as measured by the CPI was ? . 27 a liter in January 2011, which the Office for National Statistics said was a record high. † In addition, t here has been an increase in price of food, commodities, costs of transport, furniture, alcohol and UK government rose VAT from 17. 5% to 20% in January. 3. Business cycle Business cycle consists in alternating periods of economic expansion and economic recession. According to the article, UK economy contracted by 0. 5% in the final quarter of 2010, going in recession phase. In the recession phase employment, production and income decrease. Generally, during recession, inflation rate goes down as there is a decline in consumption. As a consequence, firms have problems to sell their products and will not raise prices. However, in UK the inflation is keeping on rising, but MPC believes that inflation is temporary and will be below the target in three years. 4. Interest rate and monetary policy Monetary policy is one of the tools that central banks use to influence economy. Using its monetary authority to control the supply and availability of money, the central banks attempt to influence the overall level of economic activity in line with their objectives. The objectives of the Bank of England are: maintaining price stability – low inflation – and supporting economic growth. Price stability is defined by the Government’s inflation target of 2%. In 1998 Bank of England was recognized independent to set interest rates from the government. The legislation provides that if, in extreme circumstances, the Government has the power to give instructions to the Bank on interest rates for a limited period (Monetary Policy Framework. n. d. ). The Monetary Policy Committee (MPC) is a special committee, which meets monthly to decide the level of interest rates. It is chaired by the Governor of the Bank of England, Mr. King (Monetary Policy Framework. n. d. ). The central bank can decide to undertake expansionary monetary policy or contractionary monetary policy. Expansionary monetary policy Expansionary monetary policy consists on actions taken by the central bank to increase economic growth rate, by decreasing interest rate. Indeed lower interest rate increases real GDP and the aggregate demand as: Lower interest rate causes consumption to increase and discourage people to save money Lower interest rate causes investment to increase as borrowing money will be less expensive. Therefore firms will find convenient borrow money from the banks to engage in new investment projects. As it’s shown, lower interest rate stimulate AG and the new equilibrium of economy will occur at the new potential RGDP. However, as AD and GDP rise, also the price level will rise, increasing inflation. [pic] Figure 2 expansionary monetary policy At the beginning the economy is in equilibrium at point A. During the time, LRAS1 shifts to LRAS2. Without expansionary monetary, AD1 will shift to AD2 (without policy),which is below the potential RGDP. By lowering interest rate, the central bank increase consumption, investment and net export sufficiently to shift AD1 to AD2 (with policy). New equilibrium is at point C. The price level at point C is higher than it would have been without policy. Contractionary monetary policy On the contrary, contractionary monetary policy consists on actions taken by the central bank to reduce too fast economic growth and inflation rate, by increasing interest rate. Higher interest rate causes AD to decrease as: Consumption declines and people find more profitable saving money Investment declines as borrowing money become more expensive for the firms. Therefore firms are not stimulated to do new investment projects. As it’s shown, higher interest rate causes AD to decrease. As a consequence, price level and RGDP will decrease as well, leading to a decline of inflation rate. [pic] Figure 3 Contractionary monetary policy This figure shows an example of contractionary monetary policy. High inflation in UK â€Å"will put pressure on the Bank of England to lift nterest rates to curb accelerating inflation†. As we seen before, increases in interest rate can be an efficient tool to reduce inflation. However contractionary monetary policy is used generally when the economy is growing too fast, but in the case of UK, the economic growth rate decreased by 0. 5%. Therefore, an expansionary monetary policy with low interest rate should help the economy to revitalize as firms and households are willing to spend more and to be engaged in new investments. According to the article â€Å"interest rates have remained so far a historic low of 0. % for the 23rd consecutive month†. 4. 0 CONCLUSION To sum up, the Bank of England is waiting to see the next inflation rate and the government actions, before taking any decisions. The interest rate is still at the low percentage of 0. 5% and the central bank hopes that it helps to turn around the economy. Despite of the Bank’s conviction that inflation is just temporary, it’s estimated an additional rise to about 5%. Therefore an increase in interest rate will occur for sure in the future, but still it’s not certain when it’s the best time to do it. . 0 REFRENCE LIST Hubbard, Anne M. Garnett, Philip Lewis, Anthony Patrick O’Brien. 2010. Essentials of economics. Frenchs Forest, NSW. Pearson Australia. UK Nationl Statisstics, Topic guide to: Pr ice Indices and Inflation. n. d. http://www. statistics. gov. uk/hub/economy/prices-output-and-productivity/price-indices-and-inflation/index. html (accessed May 18, 2011) Bank of England, Monetary Policy Framework. n. d. http://www. bankofengland. co. uk/monetarypolicy/framework. htm (accessed May 19, 2011)

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Human papillomavirus (HPV) Essay Example | Topics and Well Written Essays - 1000 words

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