Of Mice and Men Character Analysis Essay

Show how Steinbeck shows two characters making difficult decisions in Of mice and Men A decision can either have a good or bad outcome. In ‘Of Mice and Men’ characters are made to take difficult decisions which could change their lives. In this essay, I will be analyzing ways in which Steinbeck portrays (shows) difficult decisions made by characters, in the novel. George makes some tough decisions which all lead him to his misery. When George and Lennie are sitting near the fire, George says to Lennie, â€Å"‘if I was alone I could live so easy’ ‘no mess at all’, ‘An’ whatta I got†¦I got you!’ † George’s life is not easy because he has to deal with Lennie, who gets into trouble-most of the time. Choosing to take care of Lennie, instead of abandoning him is a tough choice; this is what leads George to this painful outcome. When talking to Carlson after killing Lennie, â€Å"George’s voice was almost a whisper. He looked at his hand that held the gun.† George is now lonely sand he feels guilty for taking Lennie’s life away. George chose to kill Lennie because if he didn’t, Lennie would be killed painfully by Curley, and George does not want Lennie to suffer. Candy is forced to make difficult choices which all result in him facing terrible outcomes. After the death of his dog, Candy says â€Å"‘I ought to of shot that dog myself, George. I shouldn’t ought to of let no stranger shoot my dog.’† Candy now has a feeling of regret and he misses his dog. Candy lets Carlson shoot his dog because he feels he has no other choice but to let him because he thinks they would kick him off the ranch. After finding Curley’s wife dead, knowing it was Lennie, Candy â€Å"spoke his greatest fear. ‘You an’ me can get that little place can’t we, George?’ ‘Candy dropped his head and looked down at the hay. He knew.’ † Candy’s dreams are now flattened as he knows that they will no longer continue to try to get the little ranch. He had so much hope when he decided to join George and Lennie on their dream, but now he has to stay on the ranch because he has no other options. Candy just wanted to get off the ranch and keep his dog, but could not do either because of the choices he was forced to make. These characters made hard decisions which they thought would make their lives better but instead they changed their lives for the worse. They all just wanted a happy life but they all lost the chance to get this happiness at the end of the novel. Whether their choices were forced or freely made,  they did not make the right decisions to reach their dreams.

Venezuela and democracy

Venezuela Is a country ruled by dictatorship hidden by democracy. Basically, the whole governmental system Is controlled by Hugo Chavez and his own party. The problems that exist are foot shortage, prlvatlzatlon of recourses(such as 011) and economic Issues. The volce of people can't be heard. Many evidences tells that Venezuela is actually a dictatorship country, not a democracy country as it seems. President Hugo Chavez had control of the election in Venezuela. 2 The government was trying to control the people by police officers. They abused student groups with iolence and threat.On the streets, while the students were peacefully protesting fighting for their freedom, democracy and civil rights, the police tried to stop them. 4 The common goal in Venezuela is to get real democracy. People take actions. For example, students form the organization â€Å"VotoJoven,† to promote democracy. 7 They achieved striking results with the registration of more than 750,000 new voters In t he system In 2010. They demand students rights. Come back to our important topic, as the â€Å"former† of the countrys problems, Chavez, who has been on the position of President since 1999.

Dicussion 13 703 Assignment Example | Topics and Well Written Essays - 250 words

Dicussion 13 703 - Assignment Example I have discovered this from the fact that the framework I am using in studying my clinical problem has been and can be used in many other studies that will deal with different issues. Additionally, I have learnt that it is possible to harmonize knowledge from different disciplines in one compressed tool such as the one I am using my project. To continue growing in knowledge, I will endeavor to keep conducting scholarly research in order to acquire new insight into different nursing ideas. Additionally, I will seek to read and review scholarly studies conducted by other nurses. To apply the knowledge I shall acquire in a clinical setting, I shall use nursing guidance manuals and code of ethics in order to delimit the scope of the application. To evaluate the translation of that knowledge to see if it is effective, I shall try it on different clinical problems checking the ones in which it work and the ones it does not. Finally, I shall request my peers to help in reviewing its successes and shortcomings in order to uphold objectivity in evaluation (Marlaine,

How to write a dissertation Assignment Example | Topics and Well Written Essays - 3000 words

How to write a dissertation - Assignment Example A Dissertation is a cumulative effort representative of the entirety of the educational experience. The importance of a dissertation in the educational experience of a student can never be underestimated. A dissertation should report the empirical conclusion of a study as well as provide an over view of current literature and current findings on the subject. It should interpret these facts based on a comparative reading of the sources relative to the experimental outcome. The descriptive study must analyse the "trends in attitudes, events, and facts in terms of their commonality and potential for prediction" (Smith, 1997, p. 34), In this dissertation, ontological and epistemological assumptions will be discussed in relation to positivist and interpretivist approaches to business research. Moreover, two methods of collecting and analyzing qualitative data will be critically compared and contrasted.Part B : Ontological belief and epistemological assumptions are always expected to be at complete dissention with each other and influence the positivist and interpretivist approaches to business research. Ontology is the department of metaphysics concerned with the nature of being. Ontological assumptions will therefore be completely influenced by faith. Such assumptions quite naturally form the basis of positivism and positivist approaches to business research. Positivism is the philosophical system recognizing only positive facts and observable phenomena. It naturally accepts. Epistemology is the theory of knowledge or grounds of knowledge. Thus, epistemological assumptions form the basis of interpretivist approach to business research. Epistemological assumptions will challenge every ontological belief and will want to question every positivist approach of business research. While ontological assumptions will naturally believe in the goodness of a product or process, epistemological assumptions will want to interpret every aspect of the same. Ontological assumptions will not question the theoretical basis of a concept or a product or even a research process. The basis of such assumptions is good faith or a simple faith in the goodness of the product per say, based on face value or usage. This represents a microcosm of ontological assumptions. People tend to assume a certain fact to be true just good or proper. It can be so either by means of rote' or by way of peer pressure. Large scale acceptance of a certain product or concept or idea will influence this acceptance aspect of business research. There is no theory attached to a wide spread acceptance - just the mere fact of acceptance. Epistemological assumptions will want to get to the bottom of the matter and will raise questions about the theoretical basis of the assumption. Epistemological assumptions begin with an inherent suspicion of the knowledge basis of the concept or product. They want to understand and interpret everything in a framework of methodology Conventional science is based on 'rational positivist' thought. This includes the presumptions that there is a 'real world'. Data can be gathered by observing it This data is factual. It is truthful and unambiguous. The 'post-positivist', 'interpretivist' philosophy, on the other hand, asserts that these assumptions are unwarranted, According to this philosophy 'facts' and 'truth' are a wild supposition and 'objective' observation is impossible, and that the act of observation-and- interpretation is dependent on the perspective adopted by the observer. Interpretivists criticise even the physical scientists for the narrowness of their assumptions. Their criticisms hold some truth particularly strongly in the social sciences, where the objects of study are influenced by so many factors. These factors are extremely difficult to isolate and control in experimental laboratory settings. The interpretivist ap

Answers to Exam Questions Essay Example | Topics and Well Written Essays - 1250 words

Answers to Exam Questions - Essay Example First, the model is simple and easy to understand as well as to implement. It should be noted that the variables in the formula can be easily accessed from public sources except the beta-coefficient which is not usually available for small and non-publicly traded business organizations. Secondly, it can be seen that the CAPM does not rely on dividends or have any assumptions on the growth of dividend which makes it applicable to companies that do not pay dividend or are not expected to experience a constant growth rate for dividends (Keown , et al. 2004). However, the CAPM is also widely criticized because it does not adequately explain the variation in stock returns. Empirical studies including the work of Black, Jensen, and Scholes reveals that low beta stocks may offer higher returns than the model would predict. CAPM will not also work for individuals which are risk averse as it assumes that investors will generally favor a stock with higher returns even if holding it entails more risks. Also, it can be seen that CAPM doesn't take into account the associated transaction costs and taxes (Capital Asset Pricing Model 2006). It should be noted that in using CAPM, companies with different debt leverage will generate different cost of capital even if they belong to the same industry. Debt leverage is reflected in the CAPM formula as the company's beta coefficient. Accordingly, higher debt leverage will yield to a higher as debt is seen a riskier source of financing. References: Capital Asset Pricing Model 2006, Retrieved 14 October 2006, from http://en.wikipedia.org/wiki/Capital_asset_pricing_model Keown, A., Martin, J., Petty, W., & Scott, D. 2004, Foundations of Finance, Upper Saddle River, New Jersey McCracken, M. E. 2005, CAPM, Retrieved 14 October 2006, from http://teachmefinance.com/capm.html 2. Debt leverage is the amplification of the return earned on equity when an investment or firm is financed partially through borrowed money (Walker n.d.). In order to illustrate how debt leverage works, let's look at a company who wants to buy a building as an investment which costs $1,000,000. In turn, it wishes to find customers who would want to rent the spaces. It expects to generate $15,000 per month. If the company has enough cash, it can immediately buy the building find tenants and can sell it at $1,200,000 after one year. Thus, the company will have a total gain of $380,000 from the sum of the rents and appreciation in the building's market value. This represents a 38% return on investment. However, if the company has only paid $200,000 and opted to borrow the remaining $800,000 with a mortgage rate of 12%, then the company will be paying $8,000 per month. Since interest payments are tax deductible, the company's monthly rent income of $15,000 will be more than enough to co ver the expenses. Even taking only the $200,000 appreciation of the building, the company is already able to recoup 100% of its initial investment. In the illustration above, we can see that debt leverage helps the company to maximize the gains of its

Community Health Promotion and Prevention Coursework

Community Health Promotion and Prevention - Coursework Example The health workers are challenged to take the leadership role of assessing the assets and the needs of communities and populations in order to propose solutions through partnership. Since these solutions that will have a greater influence on heath and illness patterns of various levels within the communities and the broader population. The author’s assumption is that prevention and curative care are different concepts since the olden days. The strident call for health care facilities was to heal, treat those already sick, and this was practiced over a long period of time dominating the preventive care. It is until the mid-19th century when new scientific understanding of transmission of diseases enabled successful sanitation interventions that prevented disease on a large scale (Kulbok,et al.6). This brought about anxiety on whether it is appropriate to give resources to the needy or teaching them on the best ways on how to meet their needs. In order to continue with the preventive health care forward, district nursing evolved, its role was to continue to struggle with appropriate interventions that will achieve quick results and to be able to have a lasting improvements among the community members and the broader population at large. Several improvements were witnessed in various parts as it evolved from finding and caring for the sick poor, to advocating and educating about the poor to other organizations (Kulbok,et al.8). As a result, public health nurses as well as community professionals have continued to recognize the advantages of community participatory methods, including the potential for more effective intervention outcomes and capacity building for long term benefits to the community. This was more effective through the use of Community Participatory Health Model, which was used as a framework to demonstrate evolving public health

Operation Hope unethical partnership decision with Union Bank and Nix Essay

Operation Hope unethical partnership decision with Union Bank and Nix Check Cashing - Essay Example Union Bank of California has entered in to partnership with Operation Hope which is a non-profit making organization and also Nix Check Cashing to offer financial services to low-income households. Many residents have low incomes thus consider savings-oriented services less attractive. Bryant of Operation Hope is initially reluctant to join the Union/Nix ownership model that includes financial literacy and market opportunities for Union Bank. Surprisingly, Operation Hope becomes the first non-governmental organization to sell 40 percent of its Hope Center in Willowbrook to a financial institution. This partnership links a bank which provides high interest payday loans to Operation Hope that is supposed to safeguard the welfare of the community b y providing services to low income households. The banking officers are reluctant to offer short term loans. The partnership may expose customer privacy information since Union Bank may share customer confidential information with Nix and Ope ration Hope. Nix employees are inefficient and have to give a 10 day waiting period before processing the loans. According to Union Bank, the aim of the partnership is to create 6,000 new bank customers and provide 750,000 ATM transactions (Bradley 7). Though from the Union Bank should comply with 1977 community Reinvestment Act by meeting the credit needs of communities. Nix alliance has compromised the role of Operation Hope since it cannot play a public watchdog role while it is a partner to the partnership. The construction of the partnership is aimed at ensuring profitability and success of Union Bank and Nix Check Cashing. The partnership agreement between the three institutions is unethical. The partnership is geared at increasing the profitability of Union Bank and meeting regulatory requirements like Community Reinvestment Act which requires Union Bank to offer services to communities (Bradley 7). Virtue ethics According to virtue ethics, the current state of affairs is une thical since it is not guided by ethical virtues. The virtues of Operation Hope management require them to act in a virtuous manner and act as community watchdog. Operation Hope as a non-profit institution should not enter in to a partnership which seeks to exploit the local low income households by providing expensive financial services. Operation hope should have avoided a partnership that has the potential of exposing private customer information and contravening human dignity virtues. In order to safeguard community welfare, Operation Hope should display virtues such as integrity, compassion, wisdom and courage and reject any partnership that seeks to provide expensive loans to low income households. According to Aristotle, the virtue ethics will consist of the mean between the extremes of excess and deficiency which are vices but some actions have no extremes like murder since it is virtuously wrong (Bowie 87). According to Aristotle, pleasure will impede ethical choices. For i nstance, the management of Operation Hope has acted with fear in order to uphold the partnership instead of safeguarding the community welfare. Union Bank is also unethical in its decision to partner with Nix and Operation Hope since its main objective is to adhere to requirements of Community Reinvestment Act and increase market share and profitability and not to provide the cheap loans required by the low income households. Union Bank decision is unethical since it only wants to increase market share at the expense of the society welfare. The decision of Operation Hope to join the partnership has been motivated by the pleasure of being associated with Union Bank which is a reputable Wall Street institution and Nix which is well known for cashing services. The partnership is unethical since it only promotes profit interests of Union Bank shareholders and not common interests of the low income ho

Contract law problem scenario Case Study Example | Topics and Well Written Essays - 2000 words

Contract law problem scenario - Case Study Example Equity has always sought to protect the weaker of two parties from oppression and from exploitation. In the context of a mortgage, equity will seek to intervene where the mortgage terms are oppressive. In order to answer this question it needs to consider presumed undue influence, which was defined in Bank of Credit and Commerce International SA v Aboody1. In this case the Court held that there was a relationship of trust and confidence between the parties of such a nature that it is fair to presume that the trust and confidence of the claimant were abused. Ginger is mother of Seamus, so the case falls in Class 2A types presumed undue influence for specific relationship. In Royal Bank of Scotland v Etridge (No. 2)2, the principle judgement was given by Lord Nicholls. In this case Ginger is especially proud of Seamus, who is a real success in her eyes. Lord Nicholls considered that a bank or any financial institution lending money should take steps to ensure that the claimant receives legal advice by asking for the name of the claimant's legal adviser. Here Northern Bank sends Miss Bindie with all the necessary paperwork but she did not provide adequate information. On the other hand Miss Bindie advised for solicitor or accountant to explain details of legal responsibilities and risks involved before sign papers. In order to answer this question it is also necessary to argue whether the contract was unconscionable or not. Here the contract was unconscionable for Ginger. Ginger is a pensioner, and has no other income. In Commercial Bank of Australia Ltd v Amadio3, in the High Court, it was held that the transaction should be set as side on the grounds that the bank's behaviour was unconscionable. An English court might well have reached the same conclusion on these facts by the application of the rules of undue influence. In Portman Building Society v Dusangh4, a father borrowed money on mortgage from the claimants so as to fund a loan to his son who was planning to buy a supermarket. The father was 72, retired, illiterate in English and spoke it poorly. No fraud or undue influence on the part of the son was alleged and the son was not in financial difficulties at the time of the loan. The father, the son and the building society sought to enforce the mortgage and the father argued that the tr ansaction as unconscionable was not excluded but on the facts the transaction was held not to be unconscionable. In Barclays Bank plc v O'Brien5, Mrs O'Brien sought to set aside the mortgage transaction on the ground that she signed the documents under undue influence and misrepresentation. It was held that the mortgage had been obtained either by her husband's misrepresentation or because of undue influence over her and the court ordered it to be set aside. Ginger can apply to the under s.14 of Trusts of Land and Appointment of Trustees Act 1996 (TOLATA), whereby the court may make any order, including one not to sell (unlike the old s.30 of the Law of Property Act 1925, where sale was often the required way to resolve any dispute unless the purposes for which the property was

Cold Blood and Frankenstein Essay Example for Free

Cold Blood and Frankenstein Essay Compare how Capote and Shelley use different techniques for characterisation and their use of emotive, figurative language with the use of repition to show the theme of wasted lives In Cold Blood was written in 1966 when screenplays were very common. Authors such as Shakespeare wrote traditional plays so it was unpredictable that the readers of In Cold Blood would respond to the novel well as it was the first non fiction novel Capote wrote. Capote wanted to experiment with his writing using narrative techniques of the novel to depict real life events. Capote believed that the narrator should not interrupt in novels; but the characters should tell the story themselves. Capote was able to write a novel which displayed the real events surrounding the murder of the Herb Clutter family and shaped it into a storyline. In Cold Blood is based on a true story of the murders of a family- something which would be wrote about in todays society. The novel is an account of the events but also contains elements of Capotes creativity therefore it is hard to tell whether it is fictional or factual. Frankenstein on the other hand is a non fictional novel which is still read and appreciated today as it is of a gothic genre. Frankenstein was written in 1818 when science was seen as exciting but also dangerous as it was trespassing on the territory of God. The early 19th century was a time which generated exceptional events and ideas therefore it must have been quite interesting to read Frankenstein. The danger of science was a great classic theme and Shelley provided her gothic genre as a framework to tone the horror of failed science- the famous experiment gone wrong. Frankenstein is still a very popular novel today because of its fascination in science which is still explored. Capote portrays his character Bonnie as being a very timid and shy character. She has a heart faced shape which is symbolic to her personality and it suggests that she is a likeable character. The significance of this is that it makes the readers engage with her and they want to know her story in order to feel sympathy for her. Bonnie has bony hands and is quite petitie which suggests that she is quite vunerable- like the creature in Frankenstein. In Frankenstein, we get the creatures perspective, and what was I? this is similar to Capotes character Bonnie with both the characters looking for reassurance from someone. Both the writers make it easy for the reader to discover new aspects of the characters personalities. Capote uses emotive language in repition to suggest that Bonnie may have had a wasted life which makes the readers have sympathy for her. Capote uses the term spinster aunt which is a type of semantic change known for an unmarried woman. Even though the novel was written in 1966, the language is still easily read and understood. Unlike In Cold Blood, Frankenstein contains language which may cause a barrier if read today. Shelley uses words like loathsome and squalid which would rarely be used today however the novel is still effective at portraying the gothic horror through emotive and figurative language. In the extract of the dialogue between Jolene and Bonnie, Capote portrays the significance of the difference between Bonnie and Jolene. Jolene is a very confident character whereas Bonnie constantly panicks and stutters when she speaks; this shows that she may feel worthless and may feel that she is not noticed by others. Capote emphasizes Bonnies wasted life indirectly by comparing her to Jolenes character who comes across as very confident. The comparison of the two characters is quite significant as it shows the importance of emotion that Bonnie has felt. Capote brings a child like quality to Bonnie through the dialogue between Bonnie and Jolene, They dont need me, this shows that Bonnie may be looking for reassurance from Jolene. Capote makes the reader feel sorry for Bonnie in order to like her character as she may have had a bad past. The repition of they dont need me reinforces the sadness of Bonnie. It is also suggesting how she may not be very close to her family. Capote makes us aware of the sadness and timidness of Bonnie for the readers to sympathise with her and hope that she succeeds later in the novel. The insecurities that Capote brings out in his character can resemble the characters of todays famous novels. Shelley makes the readers realise that even though the creature is deformed, he is still a character who underneath his flaws should be treated the same as any other person. I was not even of the same nature as man, this shows that Shelley wants the readers to sympathise with the creature and almost feel his emotion. The creatures life is empty if not more than Bonnies as all he longs for is companionship. Shelley makes the readers feel quite sad for the creature as he is deprived of love. With the use of figurative and emotive language, I saw and heard of none like me, Shelley introduces feelings to the reader which can only be seen as human. The readers see that the creature is still an outcast even though he has tried helping people and tried being humane. Its unfortunate for the creature to have an empty life, one which he didnt really ask for and like the one Bonnie almost wished she didnt have.

Coffee Ulbs Essay Example for Free

Coffee Ulbs Essay Coffee is a brewed beverage with a distinct aroma and flavor from the roasted seeds of the coffea plant. Coffee comes in many types of colour such as dark brown,white,beige,black,light brown,and more. Coffee was first discovered in the northeast region of Ethopia. Cofee cultivation first took place in southern Arabia,appears in the middle of the 15th century in the Sufi shrines of Yemen. According to the ancient chronicle,Omar who was known for his ability to cure sick through prayer was once exiled from Mocha,Yemen to a desert cave near Ousab. Starving,Omar chewed berries from nearby shrubbery but found them to the bitter. He tried roasting the seeds to improve the flavor,but they become hard. He then tried boiling them to soften the seeds,which resulted in a fragrant brown liquid. Upon drinking the liquid,Omar was revitalized and sustained for days. As stories of this ‘miracle drug’ reached Mocha,Omar was asked to return and was made a saint. In production of coffee,it consist of many steps such as processing,roasting,grading the roasting seeds,decaffeination,stored,brewing and finally be served. When processing the coffee,the berries of coffee have been traditionally and selectively picked by hand,only the berries at the peak of ripeness would be selected. After that,green coffee is process by one of two methods. Whether by dry process method or wet process method. Then,it will be sorted by ripeness and colour. After that,the seeds are fermented to remove the slimy layer of mucilage still present on the seeds. When the fermentation is finished,the seeds are washed to remove the fermentation residue. Then,the seeds are dried. Finally,the coffee is sorted again and been labeled. The roasting process influences the taste of the beverage by changing the coffee seed both physically and chemically. During roasting,caramelization occurs as intense heat that breaks down starches,changing them to simple sugars that begin to brown,which alters the colour of seeds. Then the seeds will be grading depends on the colour of roasting seeds. It will be labeled as light,medium light,medium,medium dark,dark or very dark. The degree of roast has an effect upon coffee flavor and body. Many methods can remove the caffeine from coffee,but all involve either soaking the green seeds in hot water or steaming them and using a solvent to dissolve caffeine that containing oils. Once roasted,coffee seeds must be stored properly to preserve the fresh taste of the seeds. Coffee seeds must be ground and brewed to create a beverage. Almost all methods of preparing coffee require the seeds to be ground and mixed with hot water long enough to extract the flavor,but without overextraction that draws out bitter compounds. The roasted coffee may be ground at a roaster,in a grocery store or in the home. Then,the coffee may be brewed by several methods such as boiled,steeped,or pressurized. Once brewed,coffee may be served in a variety of ways. As an example,the white coffee was made into dairy product such as milk or cream or dairy substitute or as a black coffee with no such addition. It may be sweetened with sugar or artificial sweetener.

Risk Factors Contributing Children Behavior Problem

Risk Factors Contributing Children Behavior Problem Child behaviors become problematic and these affect not only the family, but also in social and academic functioning. As working in a low-banding secondary school in Hong Kong, I have found a lot of students who are burdened with different behavior problems. These externalizing behaviors affect not only their academic achievement, but also their relationships with teachers, peers, and family, but further disrupt their future. Early intervention is essential to prevent progressive decline in childrens behavior. The principal goal for this review is to investigate different risk factors that contribute in child behavior problem. Child Behavior Problem Childrens behavior problems are divided into two major dimensions, they are internalizing and externalizing expressions (Henricson Rydell, 2006). Externalizing problems are behaviors that being harmful, disruptive, and impulsive. These behaviors are mostly stable and usually associated with long term negative outcomes (Henricson Rydell, 2006). Internalized problems are signified by emotions and moods. These symptoms are usually less consistent and cannot predict outcomes (Henricson Rydell, 2006). According to Achenbachs Child Behavior Checklist, childrens behaviors are identified into different syndromes. Syndromes refers to problems that tend to occur together. The eight syndromes that Achenbach had identified are Withdrawn, Somatic Complaints, Anxious/Depressed, Social Problems, Thought Problems, Attention Problems, Delinquent Behavior, and Aggressive Behavior. Five of the eight syndromes are grouped into Internalized and Externalized Behavior Problems (Achenbach, 1991). Internalizing is also called Personality Problems and Inhibition. Three syndromes, Withdrawn, Somatic Complaints, and Anxious/Depressed, are grouped under this heading. This group reflects childrens emotional problems (Achenbach, 1991). Externalizing is variously called Conduct Problems and Aggression. Two syndromes, Delinquent Behavior and Aggressive Behavior, are grouped under this heading. This group shows childrens behavioral problems (Achenbach, 1991). Aggression is defined as acts that impose harm on others (Aylward, 2003). Aggressive Behavior is under the grouping of Externalizing (Achenbach, 1991). Externalized aggressive behaviors are stable and are associated with long term negative outcomes (Henricson Rydell, 2006). Risk Factors There are different risks factors that lead to children behavior problem, including childrens personal factors, risks from school, parents marital relationship, parent-child relationship, and parenting and discipline style. Childs Personal Factors Stacks (2005) conceptualized risk factors for externalizing behavior by using ecological framework. Childrens temperament, developmental problems, and gender determine the severity of initial behavior problems. Personal factors, such as genetic factors, cognitive deficit, and hyperactive, also plays an important role in affecting childrens behavior. Children who have behavior problems tend to have cognitive deficit, they are lower problem solving skills (Pettit, 2004). Research shows that depressive symptoms predict antisocial behavior (Vieno, Kiesner, Pastore, Santinello, 2008). The correlations between depressed symptoms and behavioral problems were significant. This finding was also consistent with past studies by Patterson et al.(1992) and Beyers Loeber (2003). However the study suggested that the impacts of depressive symptoms to antisocial behavior occur within relatively short period of time (Vieno, Kiesner, Pastore, Santinello, 2008). Risks from School The quality school environment also plays important role in affecting predict behavior because many children spend most of the time at schools (Stacks, 2005). Studies also showed that conflictual teacher-child relationships and teachers negative responses are associated with children behavioral problems (Stacks, 2005). Pettit (2004) highlighted different risk factors for children antisocial behavior, including poor peer relationships and school failure. These factors cumulate to higher the risk of violent behavior, which was brought from early childhood to adolescent (Pettit, 2004). Parents Marital Relationship Children react to marital conflicts more negatively than other forms of family difficulties, and as a result, marital conflict is a predictor of childrens difficulties (Cummings, Goeke-Morey, Graham, 2002). It was said that marital conflict impacts childrens adjustment problems. These conflicts between parents consistently associated with externalized behavioral problems of children. These problems further influence childrens intellectual and academic achievements (Cummings, Goeke-Morey, Graham, 2002). Research also showed that children who experienced parents divorce are at higher risks of behavior problems (Stacks, 2005). Moreover, overt marital conflicts of parents were significantly risk predictors to youth maladjustment problems (Garard Buehler, 1999). Parent-Child relationship The parent-child relationship also plays an important role in influencing child development. The origin and developmental dynamics of antisocial behavior are said to be childrens early insecurity (Kochanska, Barry, Stellern, OBleness, 2009). Parental power assertion and resentful opposition lead to the insecurity of children. Poor parent-child relationship has shown impacts on childrens future antisocial behavior (Kochanska, Barry, Stellern, OBleness, 2009). Parenting Style Discipline Prevatt (2003) claimed that family risk and negative practices are highly predictive to childrens disruptive behavior and emotional adaptation. Negative family factors, such as inadequate parental involvement and poor parenting, primarily accounts for externalizing behavior (Prevatt, 2003). Dishion and Bullock (2002) also suggested that parenting practices plays an important role in childrens problem behavior. Both coercive limit-setting and poor monitoring are having direct influences on child negative behavioral outcome. Externalized behavior, such as outer-directed aggressive behavior, is one of the main indicators of maladjustment (Garard Buehler, 1999). There are three important correlates of youth maladjustment are repeatedly exposure to hostile and poor parenting. The poor parenting environment and the use of hostile are influencing risk factors to youth by showing negative interaction patterns within the family (Garard Buehler, 1999). Research shows that parenting put impacts on the development of disruptive behavior (Stacks, 2005). Parental warmth, responsiveness, and consistent limit setting are important to childrens development. Negative family interactions and functioning bring about aggression and violence to childrens behavior. Children who experienced violence directly are said to be in higher risks for externalizing behavior. These violent experiences include corporal punishment and physical abuse (Stacks, 2005). Childhood and developmental outcomes are associated with mild and harsh parental physical discipline (Lansford et al., 2009). Social context and family system leads to developmental consequences to children. Childrens externalizing behaviors are found to be associated with parents use of physical corporal discipline (Lansford et al., 2009). Lansford et al. (2009) also suggested that the antisocial behavior resulted from negative discipline may continue in later development. Corporal physical discipline in early childhood is related to increase in childrens behavior problems which would more likely to show in later years (Alink et al., 2009). Children learn to be aggressive through social learning theory (Bandura, 1973), they are also reinforced to use negative behavior to get parents attention (Alink et al., 2009) Conclusion Externalizing behaviors have great consequences to childrens eventual developmental pathway in their future. Research over the years has tried to determine how different factors contribute in deviant children behavior. Many factors can be added to the risks for externalizing antisocial behavior. Not only personal factors, risks from school, but also family factors, such as parenting style, parent-child relationship, parents marital relationship are also very influencing factors on child behavior problems. In sum, negative parenting is evitable in enabling poor child behavior, it is worthwhile to go into the family context and study the effect of parenting style to children behavior problem.

George Wilhelm Friedrich Hegel Essay -- essays research papers fc

This summary is not available. Please click here to view the post.

What is a Distribution Channel? :: Organizations, Production, Shipping

A distribution channel is organizations joined together in the process of making products available to consumers. An effective distribution channel can help improve company sales while lowering costs. An ineffective distribution strategy can be very costly to a company and might even cause financial troubles. This paper will take a look at the logistics, production and shipping strategies of Colgate-Palmolive. This paper will also discuss the marketing channels and areas the Colgate Company can improve on. Logistics, Production and Shipping Having an effective logistics, production and shipping strategy can give companies an advantage over their competitors. Producing and getting products to customers can be costly. Having an effective strategy can help reduce costs and increase profits. Colgate works closely with suppliers in order to increase quality, cost effectiveness and innovation. The company only chooses to work with suppliers that share the same values as the Colgate-Palmolive company (Colgate, 2011). Over the years Colgate-Palmolive has had to take a look at the number of plants the company had and where those plants were located. The company sells products in over two hundred countries and has plants located in different regions around the world. Since 2004 Colgate reduced the number of plants they operated worldwide (Colgate, 2011). The company started to use contract manufacturing rather than doing its own manufacturing (Trunick, 2011). By making these changes the company has been able to control costs more and become more profitable. Products need to find a way from manufacturing plants to the customers. Colgate uses several ocean containers, truckload shipments and smaller truck shipments (Trunick, 2011). Shipping costs can be very costly. With some plants closing travel miles from the plant to the customer grew. Rising gas prices along with the extra miles caused costs to rise (Trunick, 2011). Marketing Channels According to Berry (2010) â€Å"in its most simplistic form, a marketing channel performs the work of moving goods from producers to consumers.† According to Quelch and Laidler (2011) â€Å"In 1987, traditional food stores sold 75% of oral care products, but by 1992 they accounted for only 43% of toothbrush sales and 47% of toothpaste sales.† The distribution strategy for Colgate is through large retail stores, grocery stores, drug stores, dentists and plastic surgeons. Colgate has been very successful in positioning Colgate products in store locations where they would gain customers attention (Khurana, 2010).

Decision Making for Behemoth Motors Corp

Business management has become one of the most popular jobs in the world . Wally Wizard, as GSPN manager, needs a keen eye to ensure that the business is running with no hitches, no obstacles to success and no decrease in revenues. First, it is important to define what Wally Wizard’s problem is. Superficially, Mr. Wizard has no problem with the outfit, because statistics show that only 2% of their products fail quality control. However, upon closer inspection, Mr. Wizard does have a problem: the direct materials that they utilize are acquired pursuant to monthly contracts.Even though there are no future obligations under the contracts, BMC is still vulnerable to his suppliers’ whims: sudden increase in rates or the possible non-renewal of their contracts the following month. Now that the problem has been identified, what alternatives do Mr. Wizard have? A perfect opportunity in an offer made by Far East Enterprises, Ltd. comes along. Although production costs are a frac tion higher than BMC/GSPN’s current operations, FEE offers a two-year contract that would presumably contain less risk than the current system.However, if Mr. Wizard opts for the outsourcing, what to do with their 100 strong employees? Mr. Wizard already has the relevant information he needs so that he can make a viable, intelligent and profitable decision. Behemoth Motors Corp. 2 (1) FEE assures the same quality as the current BMC/GSNP quality. (2) The FEE outsourcing is covered by a contract. (3) The factory floor space vacated by the business operations can be a source of savings. (4) FEE’s delivery schedule is as reliable as BMC’s. (5) BMC’s supervisors can be absorbed by other BMC units.Therefore, the only problem is the laying off of 100 laborers. The solution to this would be intense collective bargaining agreements with the union. The FEE contract will commence on July yet, buying time for the company to make negotiations. Labor standards and regu lations do not enjoin employers from discharging or laying off employees (Kim 2003). The employees may be given three months’notices of their discharge. In lieu, Mr. Wizard can monetize the three months notice, which will provide ample support and time for the employees to gain employment.Unions are amenable to notices specially if the workforce to be discharged is paid off. This is an opportunity cost for BMC/GSPN, wherein Mr. Wizard quantifies the cost of sacrificing his workforce, in favor of obtaining the benefits of the FEE contract (Jay 2004). Mr. Wizard will wake a sound managerial decision by opting for the FEE Behemoth Motors Corp. 3 Contract. Why? Most of the qualitative factors in making decisions are soundly met (Relevant Costs): (a) Quality is assured; (b) Delivery schedules will be met;(c) FEE is a reputable outsourcing company which will in turn uphold the reputation of BMC/GSPN; and (d) As result, customer opinion will be high and their satisfaction guaranteed . To conclude, studies have shown that outsourcing benefits include better planning, higher points of operational consistency, and faster implementation of new techniques and strategies (Ferrell 2003). Behemoth Motors Corp. 4 References Relevant Costs for Decision Making, Retrieved May 27, 2008 from: http://www. mhhe. com/business/accounting/garrison/Student/olc/garrison9emgracct_s/chapterindex13.htm Jay, B. (2004). Relevant costs for decision-making, Retrieved May 27, 2008 from: http://www. accademy. com/students/publications/student_accountant/archive/2004/47/1163453 Ferrell, Keith. Outsourcing Benefits May Be More Than Monetary, Retrieved May 27, 2008 from: http://www. informationweek. com/news/services/showArticle. jhtml? articleID=15200441 Kim, Wang Bae. Economic crisis, downsizing and â€Å"layoff survivor’s syndrome†. Journal of Contemporary Asia, 2003. Retrieved May 27, 2008 from: http://findarticles. com/p/articles/mi_go2234/is_200310/ai_n9366529

Mainframe/Pc Evolution

Mainframe/PC Evolution The evolution of mainframe computing to personal computing began with the invention of the mainframe for businesses and government use. The Personal Computer (PC) evolved from companies wanting the same information from scaled down version of the mainframe and dumb terminal. Though they both consist of data storage, processors, input and output devices. However, they have their differences. Mainframes The mainframe was invented in the 1950’s. One of the first mainframes was the Univac 1, which was delivered to the Census Bureau in 1952.It measured 25-feet by 50-feet and had a storage capacity of 1000 words or 12,000 characters (Lexikon Services, 1982). In the 1970s the mainframe changed with the development of UNIX operating system (Rogers, 2010). A mainframe according to Vaughan (n. d. ), â€Å"A mainframe is a continually evolving general purpose computing platform incorporating in it architectural definition the essential functionality required by it s target applications† (par. 5). The Mainframe is a multi-user data storage and application computing system.Mainframe systems can be a single mainframe unit or multiple mainframe units, depending on the number of users and uses, it is needed for. Information is entered in on a dumb terminal or workstation. The mainframe can be in the same room or in another room and even on a different floor. The mainframe is known for its reliability and why companies are willing to spend the half-a-million dollars or more for them. Mainframes have fast bus speeds, high cache speeds, error detection, and error correction (Rogers, 2010). Personal Computers One of the first computers to be considered a Personal Computer was the IBM PC in 1981.Others were invented from 1955. It consisted of a monitor, keyboard, and desktop base with diskette drives. It weighed 28 pounds. Companies were looking for a way to down-scale and cut the cost of the mainframe system. The Personal Computer, according to Whatis. com is a â€Å"microcomputer designed for use by one person at a time† (TechTarget, 2008, par. 1). In today’s terms it consist of a display unit, keyboard, mouse, tower or desktop that consists of a hard drive, memory, processors, mother board, and other hardware to carry out its functions as a microcomputer.The cost of a Personal Computer has become affordable over the years for an individual to purchase for home use as well as company use. The use of a personal computer varies in that it is used for company business, home computing, gaming, and has other opportunities for an individual computing needs. The PC has changed the way people do business, pay their bills, entertain themselves, and communicate. The PC can process data, run programs and applications, become a database, and can be networked into other PC’s and mainframes.The Personal Computer makes it easier for smaller companies to achieve what larger companies can do with mainframes. Pcâ€℠¢s can be networked together can share the same information, store information, and work efficiently. The hand held PC provides for computing mobility, which provides for more productivity. PC and Mainframe Comparison The mainframe is a large, reliable, multi-user computing system costing millions of dollars. If a mainframe has any downtime, the whole system and users cannot work. The PC is a small, affordable, and single user microcomputer that an individual can buy.It can be used for business and home computing. It has similarities to the mainframe; display unit, keyboard, processor, memory, information storage, and operating systems. Contrasts â€Å"Mainframe operating systems are designed primarily to optimize utilization of hardware. Personal computer (PC) operating systems support complex games, business applications, and everything in between† (Silbershcatz, Galvin, & Gagne, 2009). The mainframe is more costly than a PC. However, it is more reliable than the PC. The ma inframe can process information much faster than a PC.It also has faster bus speeds and higher cache speeds. The hardware in a mainframe has error detection and error correction for less downtime (Rogers, 2010). The PC is smaller, cheaper, and a single-user computer system. Its uses include home, business, and entertainment purposes. The PC system is can easily be moved by one person, the Mainframe system takes multiple people to move it. Conclusion The mainframe made way for the personal computer. In a large business setting a mainframe would be worth the price.The PC is continuing to evolve and is becoming smaller and more evolved as technology advances. Even though they have their differences, each serves it purpose in today’s society. References Blinkenlights Archaeological Institute. (1999-2007). Pop Quiz: What was the first personal computer? Retrieved November 26, 2011from http://www. blinkenlights. com/pc. shtml Lexikon Services. (1982-2000). UNIVAC 1 (1951) First Com mercially Available Computer. Retrieved November 26, 2011 from http://www. computermuseum. li/Testpage/UNIVAC-1-FullView-A. htm Rogers, S. (2010).Comparison and Contrast Between Mainframes and PC's. Retrieved November 26, 2011 from http://www. associatedcontent. com/article/5884114/comparison_and_contrast_between_mainframes. html? cat=15 Silbershcatz, A. , Galvin, P. B. , & Gagne, G. (2009). Operating System Concepts (8th ed. ). Hoboken, NJ: John Wiley & Sons. Inc. TechTarget. (2008). Whatis. com. Retrieved November 26, 2011 from http://whatis. techtarget. com/definition/0,,sid9_gci214279,00. html Vaughan, L. H. (n. d. ). What is a â€Å"Mainframe†. Retrieved November 26, 2011 from http://www. mainframes. com/whatis. htm

What Is a Linear Programming Problem

Linear Programming is a mathematical technique useful for allocation of scarce or limited resources to several competing activities on the basis of given criterion of optimality. The usefulness of linear programming as a tool for optimal decision-making on resource allocation, is based on its applicability to many diversified decision problems. The effective use and application requires, as on its applicability to many diversified decision problems. The effective use and application requires, as a first step, the mathematical formulation of an LP model, when the problem is presented in words.Steps of linear programming model formulation are summarized as follows : STEP 1 : Identify the Decision Variables a) Express each constraint in words. For this you should first see whether the constraint is of the form >/ (at least as large as), of the form < (no larger than) or of the form = (exactly equal to) b) You should then verbally express the objective function c) Steps (a) and (b) should then allow you to verbally identify the decision variablesIf there are several decision alternatives available , then in order to identify the decision variables you need to ask yourself the question – what decisions must be made in order to optimize the objective function ? Having accomplished step 1(a) through (c) decide the symbolic notation for the decision variables and specify units of measurement. Such specification of units of measurement would help in interpreting the final solution of the LP problem . STEP 2 : Identify the Problem Data For solving a problem, we need to identify the problem data so as to provide the actual values for the decision variables. For this,†¦

Human Error Theory in Health Care

Patient safety is a basic standard of health care. Every step in health care service contains intrinsic unsafe factors . The combination among newest technologies, health innovations and treatments have introduced a synergistic development in health care industry, and transformed it into more complex field. This rise health safety risks which may result from problems in practice, procedures and medicine etc . This Essay will discuss the relationship between human factors and patient safety. Definitions Patient safety is the reduction of unnecessary harm associated with healthcares to acceptable minimum â€Å"(Runciman ,Hibbert , Thomson , Der Schaaf , Sherman ,Lewalle , 2009) Human error in health care can be observed by two different methods: â€Å"the person approach and the system approach†, each model has own perspectives . Understanding these differences has a significant practical outcomes in healthcare industry and open sights for management of medical error (Reason, 2 000). The person approach stress on the hazardous act and procedural deviations of nurses,  physicians, pharmacists.It analyses these risky acts as resulting mainly from deviant mental functions such as lack of memory & concentration , poor enthusiasm , carelessness, , and recklessness(Reason, 2000) . The associated preventive measures are intended mainly at decreasing risky inconsistency in human performance (Reason, 2000) . Whereas the system approach insight human errors as consequences rather than causes, thus it relays the reasons for error occurrence on failure of organizational system (Reason, 2000).Countermeasures are established on the theory that although â€Å"we cannot change the human condition, we can adjust the  circumstances under which humans work† (Reason, 2000). Human error Theory Patients always expect miraculous solutions to each problem. In such expectations people who receive medical services tend to believe that no mistakes can happen. It is ac tually not so, and it is seen that there are instances where the medical errors can occur at any stage (Moyen, Camrie, Stelfox, 2008).They can take place if the healthcare provider chooses an inappropriate method of diagnosing the problem. There is another scope for medical error if the execution part goes wrong, even after choosing the correct method. Therefore, such medical errors are only referred to as the human errors in the area of health science (Moyen , Camrie ,Stelfox ,2008 ) . The importance of this issue can be seen according to the report provided by the American Institute of Medicine.It stated that US Hospitals been have astonishing as there had been deaths which were be ‘avoidable’. Some cases were the medical staff inconvenient, and others were seen that the poor system was actually beyond the failure. The possible flaws in the system are there like the poor communication, between the medical team and between them and the patients; also the reporting syst em of the hospital suffers from the lack of the coordination in the hospital system (Taxis & Barber, 2003). .This subject can be better understood with relation to the existing human error theory which consider errors are opportunities for improvement and it interestingly highlight the concept of error, the same issue was adhered by literary thinker and philosopher Francis Bacon(1620), that human mind has always thought of the ‘over-generalisations’ which means that the human mind always have that over-confident element of remembering things. This thought itself gives rise to error, because it all of being thoroughly perfect which is not possible.The theory stands widely accepted by the British Department of Health, they have moved away from solely blaming the individuals, towards accepting the fact that error is something inevitable ( Runciman ,Hibbert , Thomson , Der Schaaf , Sherman ,Lewalle , 2009) Various literary scholars, scientists and the psychologist have pointed out the fact that there are some cognitive processes and the multiple disturbing factors in the organisational environment and the surroundings that can lead to various accidents in the health care domain.According to Reason’s interpretation for the concept of error (1990), it is â€Å"the failure of a planned action to be completed as intended – without the intervention of some unforeseeable event; or the use of a wrong plan to achieve an aim. † This definition was somehow subjected to varied reactions, while some accepted this possibility of the error while others thought it was only a pretext for the mistakes done in a medical scenario.Though in the contemporary context this Human Error Theory has gained popularity because the same has been highly in relevance to the Norman’s idea of error, and thus these perspectives which have been built are the ‘Human Factors’ (Carayon, 2008) Further many factors have been analysed with relation to the same theory like the slips and the lapses from the memory, the mental performance etc (Carayon, 2008). The same theory is widely accepted because of the precise description for the human factors but still the same remains vulnerable to the criticism.The same effectively brings out that the nursing is an important factor in healthcare but there can be chances for human fallibility where even the same system can fail to acknowledge those how such errors can be avoided. But the critique of the same has been there on building up the counter-argument that the job of nursing accompanies humanities, therefore the basic human factors which can be controlled like the personal hygiene like the wearing of the uniform, washing the hands, the use of anti-bacterial and the anti-viral techniques while handling the patients can guarantee high infection control (Handler, et al, 2006).The availability of the trained staff which is willing to attend the patients can effectively led to stop the fostering of the errors. Other human factors which can be worked upon by the nursing staff in the hospital can range from the valid reason for which a drug is being used the collection of the true and the right records therefore the proper documentation of the patient’s disease.These were the critiques that were made on the various human actors which can lead to serious medical flaws (system) and the consequences can become fatal (Handler, et al, 2006). Swiss cheese Model Also, the assessment of the Swiss Cheese Model is necessary to understand that how the system of the medical errors contains the holes of the errors. Alike the holes that are present in a Swiss cheese there are the inherent holes that are present in the medical system.This interpretation of the errors is formed on the basis of the Swiss cheese model, it emphasis on the causes present in the system rather than blaming any sort of the individual failures. In a way this model has acted so far as a representati ve for giving an idea how can the painful events occur in a healthcare system and how should they be prevented. The Swiss Cheese Model effectively brings the significant human factors and the system factors which impact the health care set up and the various quality and the safety perspectives.The medical errors according to the model have a scope to arise because of the Organisational factors, the unsafe work conditions, the human tendency for the unsafe actions and the unsafe acts. The organisational influences are the lack of the management of the resources that are provided in the healthcare settings like the excessive use of the tools which are torn out, the improperly maintained machines and the lack of coordination among the staff members (Reason, 2000).The next is the distracting and the fluctuating work environment of the hospital, also referred to as the Organisational climate, like the lazy staff members, the inexpert doctors and the dogmatic nurses who are unwilling to a ttend to the patient’s queries. The third influential factor is the operational process; this accounts to the methodology that is followed for diagnosis, the nurse or the medical supervisor might indulge either too fast processing or the too slow processes (Karman, L. , 2008).The extreme behaviour of the clinicians and the health care staff thus can be referred to as the problematic in the operational process. The interpretation of the model defines that the healthcare system should be diligent in dealing with the patients at the right time and with the right networking, for this the recommended system by the Swiss Cheese Model where the holes should be seen as the chances where the on-going plan or the operation can fail and the slices of the cheese are the ‘defensive layers’ thus becoming the safety steps or the shields (Karmen, L. 2008).. Therefore, the different layers only act as the filter, where even if the mistake, the error or the flaw in the operation h as occurred in the first step then the same can be trapped in the defensive layer, leaving no scope for the error to be passed on to the next level. This is possible because the next layer would not be having the same positions of the holes as it was in the previous layer.This interpretation thus propagates the main idea that though the natural tendency of a human being to make mistakes cannot be corrected but the correction can be made at the part of the plan that is being executed so that the chances of the fatal consequences are effectively minimised (Karmen, L. , 2008). Conclusion On the basis of the Human Error Theory and the basic Human Factors that are responsible for the failure of the health care system, one can conclude that the critical review of Swiss Cheese Model can come to rescue many patients ho are admitted to the healthcare centres. The question which the analysis has answered is that ‘Can the human errors be effectively reduced in the medical context? â€⠄¢ and it seems that a positive light spot on the solutions to catch the problematic have been provided by the collaborative efforts of the literary precursors, the medical scholars and the psychologists. The model and the theory which has been studied effectively solves the problem by attacking its root in that health care setting is an indefinite system in which the safety of the patient resides (Wagner, C et. l , 2001). The safety & quality is only achieved while there is possible healthy interaction between the medical providers, the health care standards and the potential errors in the existing health care system. References Carayon, P. (2010). Human factors in patient safety as an innovation. Applied Ergonomics, 41(5): 657-665. Handler,S. , Castle, N. , Studenski, S. , Perera, S. , Fridsma, D. , Nace, D. , & Hanlon, J. (2006). Patient safety culture assessment in the nursing home.Qual Saf Health Care 15(6), 400-404. Karmen, L. (2008). Pilot, Swiss cheese, and cash mach inery: Health of the Health System. Croatian Medical Journal, 49(5), 689. Moyen, E. , Camire, E. , & Stelfox, H. T. (2008). Clinical review: medication errors in critical care. Critical Care Medicine, 12(2), 208. Taxis, K. , & Barber, N. (2003). Ethnographic study of incidence and severity of intravenous drug errors. British Medical Journal, 11, 326. Reason, J. (2000).Human error: models and management. British Medical Journal,  320:768-70. Runciman, W. , Hibbert,P. , Thomson, R. , Schaaf, T. V. D. , Sherman, H. , & Lewalle, P. (2009). Towards an international classification for patient safety: key concepts and terms. International Journal for Quality in Health Care, 21(1). 18-26. Wagner, C. , Wal, G. , Groenewegen, P. , & Bakker, D. (2001). The effectiveness of quality systems in nursing homes: a review. Qual Health Care 10(4), 211-217. .

Australia Law of North V Marra Developments Ltd †Free Samples

The leading case of North V Marra Developments Ltd (1981) was decided by the High Court of Australia on 9 th December 1981. The Hon’ble Stephen, Mason, Murphy, Aickin and Wilson JJ decided the case against the Appellant and in favor of the Respondant. As per the fact of the case, the Appellants are the member of a stock broking firm (Sydney Stock Exchange Ltd). The Appellants were initially trading in the name of NORTHS but are now considered as J. & J. NORTH. In 1954, Marra (Respondent) was incorporated as a public company. There were various rural properties that were acquired by Marra in 1974 in New South Wales. Its ninety three percent issued and paid up capital was held by 5 families. The shares of the company were listed on Sydney Stock Exchange. But, prior to 1974 the true value of the company assets were not depicted with the help of the balance sheets of the company or the market value of the assets. Considering with the situation, the Appellants in around December 1972-February 1974 submitted that there is a need that market capitalization of the asset must be done so that the true value of the Marra assets can be determined. There were three recommendations that were given by the Appellant and all the three were accepted by the Respondent. It is alleged by J. & J. NORTH that they have provided advisory services regarding the reorganization of the capital of Marra Developments Ltd. ("Marra") and advised on the takeover of Marra upon Scottish Australia Holdings Ltd. ("Scottish") and thus they are eligible for remunerations and the interest thereon from the Respondents. (Jade, 2017) Thus the main issue that was developed from the facts of the case was whether the Appellant is liable to claim the remuneration with interest from the Respondent. Now, because of the acts that are undertaken by the appellant and the Respondent, the major duty that was violated is submitted herein under. That the agreement amid the Appellant and the Respondent to carry out the scheme and the carrying out the scheme itself (of capitalization and takeover) are in violation of section 70 of the Securities Industry Act 1970 of New South Wales. The scheme itself and its conduct both are illegal in nature. (Armson, 2009) Because of the act, there is violation of section 1041A (Price Manipulation) and section 1041B of the Corporation Act 2001 (False Trading and Market Rigging). The main reason because of which the duties were considered to be violated are: The prices of the shares are increased by appellant involvement of buying the shares. The Appellant filed a case, however, the same is rejected by the Supreme Court of New South Wales. It is submitted but Meares J, that the argument of the defendant that the acts of the Appellant involves illegality is valid as the acts are in violation of section 70 of the Securities Industry Act 1970. The Appellant filed an appeal to the Court of Appeal. The Court of Appeal also dismissed the appeal of the appellant, Against the decisions of the Court of Appeal, the Appellant filed the present appeal. On 9 th December 1981 the Hon’ble Stephen, Mason, Murphy, Aickin and Wilson JJ submitted that the proposal which is recommended by the Appellant and which is later carried out by both the appellant and the defendant regarding the purchase/sale on the Stock Exchange in the Respondent is not found to be legal. It is decided that the agreement to carry out the scheme and the carrying out the scheme itself are in violation of section 70 of the Securities Industry Act 1970 of New South Wales. The scheme itself and its conduct both are illegal in nature. The court also held that the actions of the parties are not such which resulted in considering the same as conspiracy to deceive. Thus, the amount that is claimed by the Appellant cannot be recovered and the appeal stands dismissed.   The High Court decided that the amount that is claimed by the Appellant cannot be recovered and the appeal stands dismissed.   The main reasons that are attributed by the High Court which form the basis of the decision is submitted below and is critically analyzed: (O'Connell, 2013) In the Corporation Act 2001, considering the observations that are made Mason J and the changes under the 1980 Act, few variations were made regarding the market rigging and the false market provisions. There were few amendments that were made to section 998 of the corporation Act 2001. Because of the above facts, it is submitted by Mason J that any activity which gave the market false or misleading appearance is prohibited under statue. The acts of the appellant were against the statutory prohibition and thus the actions were illegal so they are not permitted to take advantage of any statutory wrong; These actions of the appellant were not regarded as legal in concern with section 70 of the 1970 act (E.T. Fisher &Co. Pty. Ltd. v. English Scottish and Australian Bank Ltd.  (1940). The actions of the Respondent with the help of the appellant which has resulted in enhancing the market price of the company of the respondent so that there is completion of takeover is an act which in contract to the provisions of section 70 of the Act. Thus, an illegal act cannot justify any benefits to be accrued in favor of the default. So, the appellant itself at fault cannot claim remuneration for an illegal act. The court held that the appeal of the appellant is not found to be favorable not because the agreement in which they are relying is in violation of section 70 but mainly because the actions in which they indulged into are itself illegal in nature. So, on those grounds it is decided by the High court that the appellant is not rightful in suing the Respondents and claim their remunerations on the basis that the acts in which they indulge into are itself illegal in nature. In the leading case there were series of observations that were made in relation to section 70 of the 1970 Act. Mainly the interpretation of the section signifies that there must be presence of some element in order for the application of the section. The   law submitted by Majon J is now not applicable in the current law . however, based on the observations that are made by the Hon’ble Judhe there were changes that were brought in Securities Industry Act 1980 (Cth) (1980 Act). (O'Connell, 2013) In the Corporation Act 2001, considering the observations that are made Mason J and the changes under the 1980 Act, few variations were made regarding the market rigging and the false market provisions. There were few amendments that were made to section 998 of the corporation Act 2001. However, again the market rigging and the false trading provisions were amended by the Financial Services Reform Act 2001 (Cth). The main changes that are brought in are that civil penalty provisions are made under Part 9.4B which includes few misconduct provisions inclusive of market rigging and false trading in (section 1041B of the corporation Act 2001) This change has reflect a doubt that it is very troublesome and expensive for the law to be applied by applying criminal standard of proof and it is more efficient and appropriate to apply the civil sanctions. Thus, now civil case can be brought which is based on the violation of section 1041B (1) by complying with civil standards of the balance of probabilities and there is no need for the establishment of any kind of fault or intention. Now if there is violation of section 1041 B (1) then a liability of @ $200,000 be imposed to an individual and @ $1 million for a body corporate. Thus, the leading case of North V Marra Developments Ltd and with the current reforms that are brought in then there is no need for the establishment of any kind of fault or intention. Ann O'Connell (2013) Protecting the Integrity of Securities Markets — What is an ‘Artificial Price’?: DPP (Cth) v JM, Melbourne Law School. Emma Armson (2009) False Trading and Market Rigging in Australia,   Corporate Law Teachers Association Conference, ANU College of Law. E.T. Fisher &Co. Pty. Ltd. v. English Scottish and Australian Bank Ltd.  (1940) 64 CLR 84 North V Marra Developments Ltd (1981). Scott v. Brown, Doering, McNab &Co.  (1892) 2 QB 724 Jade (2017) North V Marra Developments Ltd (1981) (Online). Available at: https://jade.io/article/66955. Accessed on 1st October 2017. Looking for an answer 'who will do my essay for cheap',

Organizational Communication Concepts and Skills Assignment

Organizational Communication Concepts and Skills - Assignment Example Therefore, if the organization tends to neglect socializing the employees, then in such cases the employees must themselves socialize. There are two distinct communication network taking place in organizational environment. They are formal as well as informal network. The formal network is making communication following the hierarchical structure of the organization. On the other hand, the informal network comprises communication following the grapevine (Cairo University, 2012). It is a well known fact that successful communication in an organization enhances the efficiency, minimizes the turnover of the employees and also helps in the development of the office atmosphere. The chief objective of this discussion is to propose a new communication structure for an organization. The five different concepts that the discussion shall evaluate are active listening, organizational culture, and conflict resolution, leadership strategies as well as formal and informal communication. Analysis o f the Concepts Important For Successful Communication within an Organization Active Listening It is a well known fact that effective listening is significant for improving communication. However, the managers are not always found to be listening since active listening is not considered to be a natural procedure. Mental as well as physical efforts are needed on part of the listener. Intra-organizational listening can be considered as an influential competitive tool (Helms & Haynes, 1992). In the context of the business world, listening is considered to be a significant element of effectual communication in an organization. While communicating with the members of the organization, listening will assist in avoiding any kind of confusions, comprehending the work lucidly and thus creating a positive connection with whom the communication is initiated. The communication experts have agreed to the fact that active listening as a major factor which comprises behaviors such as empathetic bod y language, posing useful questions, validating employee expression via considerate conversation turn-taking along with rephrasing for ensuring mutual understanding. Active listening generally comprises the focus of the consultants upon the clients with an indication that they are listening closely to the issue presented and the client’s interpretation of this aspect (The University of Maine, 2012). For a communication to be effective and successful, it is vital for the listeners to motivate themselves to listen. They are supposed to decide precisely why they are listening. Active listening offers numerous advantages to the organization. It leads to save in time by means of people’s defenses and gain significant information without repeating the same conversation always. It permits the organization to evaluate a situation accurately (Kuboto, Mishima, & Nagata, 2004). However, one of the facts regarding active listening is that it is not an easy skill to be attained. It might as well require alterations in one’s own basic attitudes. Active listening carries an element of personal risk. Creating an attitude of sincere interest in the speaker is not an easy task. It can hence be created by being willing to risk viewing the world from the speaker’s point of view (Rogers & Farson, 2010). Organizational Culture Organizational culture is considered to be a significant component in the context of organizational communication. Culture is generally comprehended as how people make sense of

Impact of Technology on society Research Paper Example | Topics and Well Written Essays - 1750 words - 1

Impact of Technology on society - Research Paper Example Lastly, health smart homes are utilized instead of separate medical facilities, resulting in significant cost savings. All these technologies are equipped with wireless communication devices that will deliver value, convenience, quality health care and a better life for the patients. Hence mobile computing devices enable and facilitate caregivers and health care cooperative roles instant access to patient information on a common platform or knowledge base regardless of geographical location. Studies revealed that for improving the quality of health care, monitoring mechanisms must be efficient and effective. The effective monitoring mechanism will transfer information related to vital signs accurately and robustly, resulting in an instant transfer of medical information and response time from a caregiver or doctor. However, to make the monitoring mechanism effective, there is no solution so far except the integration of social networking sites empowered with mobile computing called as Mobile Health Monitoring (MHM) (Brahnam & Jain, ). After the integration, these systems have proven to be efficient and reliable, as they facilitate continuous connectivity of patient’s vital signs to the caregiver or doctors (Brahnam & Jain,). (Brahnam & Jain,) Magrabi along with other researchers has constructed a web based system that will be utilized for monitoring patients located at home and suffering from a disease called as cystic fibrosis. The system is fully equipped and w orks in a standard browser that becomes active whenever new data of a patient is transmitted. Moreover, the system also reviews patient medical history and sends reminders and suggestions via email to both the caregiver and the patient as well (Brahnam & Jain,). However, one problem is not addressed yet, i.e. absence of instant monitoring mechanism of the patient’s body, as it will be achievable by incorporating sensors attached to the body. In contrast, the mobile health

Nursing Practice Essay Example | Topics and Well Written Essays - 3500 words

Nursing Practice - Essay Example The learning outcomes associated with this course are crucially linked to the integral understanding of clinical issues and practice. This paper, in turn, shall go a long way in reestablishing the norms that were to be established by the goals for this course. Understand the domain of every prong individually is of vital importance: As was mentioned earlier, knowledge of legal issues to the cause of clinical practice has now become imperative. Though universal laws for humanitarianism and morality remain constant for humans, yet there are certain legal implications that are different for certain countries and even states within countries. It must be understood by a practitioner, that the legal clauses are not a matter of burden, but actually, a facilitating and binding factor that ensures that the provision of health care would be unequivocal and just for all. The current face of health care is largely a product of the advancement made during and after the World Wars. However, despit e the magnitude and quality of work that was done at that time, the obvious constraint due to the war was that a systematic procedure for providing health care cannot be established. Much has changed since then, and the corporate face of the organizations in the changing world has brought about a new shape to the domain of clinical practice. With the inception of concepts like quality and the ISO standards, what the world of today has realized, is that documentation, for any system of work, is not only essential but is a must.

Finanical Accounting Concepts Phase 1 DB Essay Example | Topics and Well Written Essays - 500 words

Finanical Accounting Concepts Phase 1 DB - Essay Example whereas, intangible assets include patents, goodwill etc. Whether assets are tangible or intangible, they always equal to the liabilities and the owner’s equity. There also exists long term and short term assets. The long term assets are of maturity which is more than a year and the short term assets are those which are categorized in having less than a year maturity. Liabilities are what an organization owes and are an obligation to the company. Liabilities are, in fact, claims by the creditors on the assets possessed by any business. All the payables (accounts payable, notes payable etc), loans, mortgages, salaries and the like that the company owns are included in the liabilities. Liabilities are also called debts. Liabilities include short term and long term liabilities. The long term liabilities are those which are to be paid after a year and the short term liabilities are those which are to be paid within a year. The amount invested by the investors or the owner’s contributions in the organization is known as the owner’s equity. This is the owner’s rights to the assets of the company. In other words, it is the amount of assets invested by the owner into the business. The owner’s equity includes the capital, drawings, common stock, preferred stock, treasury stock, additional paid-in capital and retained earnings

Experience of Freedom for Euro-American (the White American) from 1865 Essay

Experience of Freedom for Euro-American (the White American) from 1865 to 1900 - Essay Example It is important to note that slavery ended not because of the charitable heart of white American slave owners. Slavery ended after a bitter and bloody civil war that cost hundreds of thousands of American lives. Slavery only ended after a struggle both in military and political terms (passing of the Thirteenth Amendment). Majority of the white slave owners did not even wanted to end slavery and so, from their point of view emancipation is already enough for the former slaves. For the white Americans, freedom meant the emancipation of the slave African Americans and that is already more than enough freedom for them considering that they were once slaves before. The definition of freedom is articulated by Garrizon Frazier, a black minister who responded what freedom means because it includes not only the political aspect but also the economic aspect of freedom. Freedom is â€Å"placing us where we could reap the fruit of our own  labor, and take care of ourselves.† The way to accomplish this was â€Å"to  have land, and turn it and till it  by our own labor† (Foner 1983:586). Freedom also includes not only freeing from the shackles that the state formerly sanctioned but also the equal protection of the laws and the equal provision of opportunity in all spheres of life. The White Americans however disagreed to this definition considering the previous of Black Americans as former slaves. To them, emancipation is already enough for the African Americans as freedom exactly meant the removal of the bondage of force servitude. Thus, efforts by White Americans still continued to disenfranchise the White Americans in other forms such as denial of the right to vote, segregation and discrimination. The first few aspects of freedom such as â€Å"reaping the fruit of our own  labor, and take care of ourselves [by having] land, and turn it and till it  by our own labor† was relatively easier to accomplish because it only

The Catastrophes Experienced in the Modern World Essay

The Catastrophes Experienced in the Modern World - Essay Example Some human actions have played a role in creating global warming and escalating the calamity in the world. The primary cause of global warming is the greenhouse effect. Upon reaching the surface of the earth, an amount of sunlight is absorbed, while the rest radiates back to the atmosphere (Balachandran 107). The sun that radiates to the atmosphere does so at a longer wavelength, with some wavelengths being absorbed by greenhouse gases in the atmosphere. Some of the heat energy that would be lost to space is reflected the earth’s surface by the greenhouse gases. Thus, the decisions of human beings to adopt the widespread use of greenhouses have significantly contributed to the escalation of global warming. The increase in global warming can be attributed to high incidences involving the use of greenhouse gases (Atwood 15). The emission of carbon dioxide also causes global warming; burning of fuels plays a role in escalating the incidences of global warming all over the world. Fuels such as diesel, natural gas, petrol, oil, organic diesel, and organic petrol mainly contributed to global warming and overall environmental degradation. Industries emit harmful carbon dioxide gas to the environment, causing massive destruction of the environment. When carbon dioxide is released to the environment, it remains in the atmosphere for as long as 100 to 200 years. The increased concentration of carbon dioxide in the environment creates a rise in earth’s temperature. Another factor responsible for the rise in global warming is the increased pollution caused by the clearing of vegetation cover. Human beings invade forests and clear vegetation and trees in order to settle.

Virtual Letter Essay Example | Topics and Well Written Essays - 500 words

Virtual Letter - Essay Example When bringing you up I applied different theories and principles in order to make sure that you grow as a good person. My principle is to abide by the Christian teaching and refuse what is evil. According to social learning theory, by Bandura people learn behaviour whether good or bad from the people around them. I was much strict to make sure that you only learn the behaviour that is acceptable to the community and Christian teaching. When you were only 15 years, you wanted to go out with your boyfriend but I opposed. This is because it is not good to go out and have sex before marriage as it is forbidden by the society and Christian teachings. When I noticed that this could come as a result of peer pressure or learned from your friend, I had to forbid you from interacting with bad people. This made you to even avoid class discussion and interaction with other students in the schools. My parents used authoritarian parenting styles, and this has shaped my behaviour and enabled me to uphold religious and moral values. In order for you to grow up with moral and Christian values, I had to apply the same principles and parenting styles my parents used. In the process of growing, you adopted different behaviour. When you were two years as described by Erikson, you could trust the environment and people around you. When I left, you could cry and calm down after I left. This showed that you could trust me as well as the sitter. You could also feel guilty when you do something wrong that is the third stage of development as explained by Erikson. At age 15 you got a boyfriend, and you wanted to go out with him which is the six stage marked by development of isolation and intimacy. Your growth was well, and you passed through all developmental stages. In order to develop socialization, development and growth we should engage in social events like weddings, birthday parties and graduation parties among others. This will enhance our

Benefits of Capital Punishment Essay Example for Free

Benefits of Capital Punishment Essay Though death penalty law has received insurmountable onslaught from the opposing activists and human rights campaigners, a number of states have maintained a hard stance and stood their grounds, this has been with good reasons. It is also in the clear understanding of its benefits and the hollowness of the counter claims. The position of this paper is that capital punishment has a wide range of benefits to a nation. Capital punishment deters crime, curbs recidivism, controls overcrowding and reduces the cost of maintaining inmates serving life sentences. A number of econometric studies conducted between 1978 and 2000 in the United States by a number of scholars bear the truth about the deterrence abilities of capital punishment (Paul R. Z. , 2006, 34). These studies have established the obvious, just as incarceration deters crime so does capital punishment. Capital punishment simply refers to an act by state of executing criminals found to have committed capital offenses. History has it that the origin of capital punishment was necessitated by the need to quell soaring rates of grievous crimes and political dissent. There are various crimes that are punished using death penalty; these however usually vary from one country to another and are a product of a states traditions and societal expectations. In China corruption is considered serious enough to attract a death penalty. Majority of countries regard drug trafficking, rape and cold blood premeditated murders as capital offences. Zhiqiang Liu (2004, 12), an economist, is particularly categorical in his study of the ability of capital punishment to deter crime. He goes forth and posits that one execution of criminal by state goes ahead to safeguard about eight lives of potential victims, this is in accordance to a study he conducted in the United States between the early 1930s and the late 1960s. This study is quite confident on the relationship between executions and crimes rate. These findings had earlier been echoed by H. Naci Mocan and R. Kaj Gittings (2003, 29) in a state level study conducted for a period of 20 years up to 1997. The conclusion of this study was reached after a careful analysis of the homicidal and imprisonment rates compared with the rate of capital penalties meted out. The conclusion was that each execution carried out went ahead and reduced the number of homicidal cases after while rescinding of a death penalty generated a significant increase of murder cases. The issue of deterrence has received quite a sizeable proportion of interest from academicians. This interest is not only as a result of its relation to capital punishments only but also in regard to other crimes as well. One of the reasons behind incarceration in addition to locking out criminal elements away from the precincts of the society is to deter occurrences of similar crimes from potential criminals. Theories have been put forward to analyze the effects of imprisonment and punishment as a form of deterrence. Most scholars have found a correlation between the two. The fear of imprisonment, fines and other forms of punishment is one big reason why many people would rather not go against the law. Early philosophers theorized about the origin of state saying it was brought forth to arrest the anarchical situation that reigned in the original state of nature. The presence of state also gave birth to the need to create laws and spell out the nature of punishment for the violators, such punishment would be meant to deter. There is an undeniable link between deterrence and punishment and the harsher the punishment, the more efficient the deterrence (Van den Haag, E. , 1975). The idea hence that harsh punishment meted out against criminals does not deter similar occurrences is inconceivable; almost all scholars are in agreement that capital punishment should be given to the elements in the society charged with grievous crimes. The basic argument here should be that the nature of crime one commits should attract an equally harsh punishment. Capital crimes rank the highest. None would be harsher than death and this would go ahead in preventing others with similar intentions. A total of 53 criminals were executed in the United States two years ago (Amnesty international, 2007). A bigger portion of those were in Texas. Critics admit that these executions went a long way in curbing crimes in the states that they were carried out and most studies agree. The issue of deterrence hence is unquestionable. A secondary objective of capital punishment on capital offenses is to stigmatize grievous crimes like rape and murder. It seeks to portray the horrific nature of such acts. Nothing would portray this better than an execution. Capital crimes cannot be deterred effectively by imposing light sentences or life imprisonments with an option of a parole. It is not in question that prospects of imprisonment would deter future acts of crimes, but this might not be applicable in well mapped out and executed murders. The prospect of a parole itself negates the deterrence that could have been achieved. The prospects of a death penalty on the other hand make any criminal to have second thoughts before contemplate on taking innocent lives. Capital punishments with an intention of deterring crimes should not only be carried out but they should also be highly publicized to ensure that such news reach all quarters (Hugo A. B. , 1997, 67). . Texas has an exceptionally high proportion of executions being with over half of all executions in the United States. These executions have been on the increase in these recent past years. Dale O. Cloninger and Roberto Marchesni (2001, 62) carried out a study with an intention of comparing two periods, when in one, executions were near zero and in another where there were remarkably high number of executions. This study found that the deterrence hypothesis holds. The numbers of homicide cases reported when there were minimal executions were higher than in when the number of executions went up. Other studies have found that executions conducted in one state have a spill over effect to other areas. Executions in one state may result to a reduced rate of capital crimes in a neighboring state indicating how efficient the idea of deterrence is (Van den Haag, Ernest, 1975, 26). Deterrence operates within a framework of three assumptions; the first one is based on what the law stipulates. The contents of the law are themselves enough to deter crime; a tough law goes a long way in preventing criminal tendencies. The second one is punishment. Everyone should be made aware of what the punishment for violating a certain law is. The third aspect is the certainty of such a punishment. This is where capital punishment comes and it is ascertained through carrying out executions. The state goes right ahead in achieving this and deterrence is achieved. Robertson I (1989, 33) notes that â€Å"through punishment corrections serve to deter the offender from deviating and it scares others who might be tempted into crime† Capital punishment has also a cost advantage. In the process of meting out a judgment especially for the lesser crimes, the court determines whether to imprison or fine an individual by looking at the possible costs of incarceration, the nature of the crime and the character of the individual. This is a complicated formula that puts into consideration even the salaries and expenses of the probation officers alongside other costs. The average cost of maintaining a prisoner for a whole year in prison as established in the finding conducted in 2003 is well above twenty-five thousand dollars. This number if multiplied with the millions serving jail sentences in the United States really puts a strain on the public coffers. Fines and paroles are important ways of circumventing this cost and to a greater extent eradicates the social and health issues that arise as a result of the increasing over crowding in the jails today, especially occasioned by the three strikes law. The prisons in most countries, United States included, are always carrying above the expected capacity. Although the intention of capital punishment is not to decongest prisons, when imposed, it goes ahead to achieve this. The costs of congestion are insurmountable both social and economic (Gottfried, T. , 1997, 78).

Exchange Rates and Interest Rates in Pakistan Analysis

Exchange Rates and Interest Rates in Pakistan Analysis Abstract This paper endeavors the relationship and the positive effect between exchange rates and interest rates in Pakistan by utilizing the foreign exchange market and current scenario of increasing interest rates because of increasing exchange rates to represent the economic position of Pakistan. The data by the researcher is all on daily basis for the above variables from the period of September 2001 to May 2008 for exchange rates, while for interest rates (6 month KIBOR) from the period of September 2001 to May 2008. The researcher implement regression model to test the effect of exchange rates progression on interest rates. So in this result, there is the issue of auto correlation exists and it shows the serial correlation between these variables. The issue should be resolved by taking time and KIBOR lag values as the dumm dependent variables. The study concludes on this way that there is the negative relationship between exchange rates and interest rates (KIBOR) in Pakistan and there i s the impact of time and KIBOR on KIBOR.. It identifies that when exchange rates increases, there is decreasing in interest rates (KIBOR). This results and relationship is consistent as predicted by Meese and Rogoff (1988). INTRODUCTION Every country has its own financial markets and it is the back bone of a countrys economy. The financial markets is divided in parts like foreign exchange market, stock market, money market, bond market etc. In this study, the researcher is focuses on the foreign exchange market, which is commonly known as Forex. It is the largest and most prolific part of financial market and defining the balancing of countrys economy, because every particular day, there are approximately one trillion amount of foreign exchange takes place in the countries around the world. The actual mechanism of the foreign exchange, that it is work as the main driving force for an any countys economy in the world. Therefore, any country in the world should challenge their currency in the global economic markets. In the exchange markets for all the countries, home country currencies trade with other foreign country currencies. The foreign exchange market system is needed for every developed and under developed cou ntry; this system known as currency in exchange determination. For the determination of the value of a currencys exchange rate, there are two main types of system is used, one is floating exchange rates system and the other is fixed exchange rates system. The intervention of government officials authorities in the foreign exchange market is to influence the exchange rate fluctuation as a worldwide phenomenon. The authorities intervene maintaining the objective to orderly market conditions that ultimately help to achieve the overall macroeconomic goals. However, the exchange rate has playing an important role in terms of the flexibility in macroeconomic framework to deal with changes in the external terms of trade, but the monetary policy also aims the national objectives of economic diversification and to support export competitiveness. The ineffective monetary policy under fixed exchange rates as compared to flexible exchange rates, but fiscal policy under both fixed and flexible exchange rates remains weaker of achieving the level of output. (R.A. Mundell, 1968). The level of currency risk changes, it has no negligible impact on the rates of change of exchange rates and on relatives rates of interest between currencies. (Clas Whilborg, 1982). The risk premium of the currency is the important factor relative to floating exchange rate system, but movements in the exchange rate are dominated by the non speculative activity and it has the adverse effect on world economy. (John bilson, 1985). The true statement that in many cases the sign of the estimated exchange rate-interest rate differential relationship is consistent with the possible predominance of financial market disturbance (R. Meese K. Rogoff, 1988). The consequences changes in the nominal interest rate reflect changes in the tightness of monetary policy. T he higher the interest rate in the country attracts the capital inflow, which causes the domestic currency appreciates, so this gets the relationship could be negative between the exchange rate and nominal interest rate differentials. (J.A. Frankel, 1979). The assets are dominated and exchange risks interest reflects the interest rate parity when different currencies affect political risk and thats why assets are issued in different currencies. Thus the interest differentials to the political risk of future capital control must be distinguished due to the effective tax that controls the place in interest earnings. (M.P. Dooley P. Isard, 1980). The concept of political risk is that the probability authority of the state will be interposed between investors in one country and investment opportunities in other countries that is the probability that controls the imposed on capital flows. (R.Z. Aliber, 1973). If price levels and exchange rate are significantly volatile and cannot be cos tly hedged, are adversely affected in the real value of the domestic currency. There is some evidence that exchange rate fluctuations are a priced factor in cross sections of stock return converted into a common currency. (W. Bailey P. Chung, 1995). In the perfect mobility the exchange rate movements and an adjustment of goods market is relative to asset market and consistent expectations. The extends that output responds to a monetary expansion in the short run, this acts as an effect on exchange depreciation which lead to an increase in interest rates. (Rudiger Dornbusch, 1976). The foreign exchange gain or loss is made in the course of covering; consider being capital assets, so this gain or loss treated on capital account. This shows the highly sensitive interest dynamics with exchange rates. (M.D. Levi, 1977). The variability of industrial production output will be higher in the regime of fixed exchange rates instead of regime of flexible exchange rates. (Flood Hodrick, 1986) . The effect of consumption goods purchases by the government is not the private utility, but per capita real government expenditure are the composite of individual consumption of goods. So notice that the demand of money its depends on consumption of goods rather than income and that is the important distinction of closed economies.(Obstfeld Rogoff, 1995). The fixed and floating exchange rates depend on higher welfare yield and on the nature of sticky prices, so the risk would be shared and there are some opportunities to aware. The evidence, which should give opportunities about price setting and risk sharing are not refined and not to make the definite conclusions for the optimal regime of the exchange rate of that country. There are three types of ways which gives stickiness in prices, the prices which would set by the firms in their own currencies, the firms would set the prices for consumers currencies, or firms would set the prices in the currencies of producers. (Charles En gel, 2001). When the exchange rates changes, it may cause to appear the changes in relative prices and make to generate additional uncertainty for equilibrium in markets. However, there is also defining that the changes in terms of trade would play the larger role of changes in the exchange rates which affect the variability of exchange rates. (A.C. Stockman, 1980). This study explores to investigate the determinants of exchange rates in developing country such as Pakistan. The framework of this study is concern to be conceptual and theoretical and is to set up the ground of unidirectional causality from exchange rates to economy. In principal, it determines the exchange rates relationship with interest rates so it will spurs the determinants in Pakistan with related to the economy. This view implies that the choice of an exchange rates regime be a relatively simple, if countries were faced to intervene regularly in the foreign exchange market to stabilize, therefore the monetary authorities intervene with the objective of maintaining orderly market conditions, which ultimately help to achieve the overall macroeconomic goals. The discretionary nature of the existing monetary policy in Pakistan is inflation, and it is targeting to hit on the Pakistani economy by focusing attention on the monetary policy. So the government of Pakistan is to make t heir monetary policy more transparent for achieving their explicit goal, and decreasing the inflation. Therefore, it is increasing the publics understanding of the central banks strategy to deliver the target, so the State Bank of Pakistan will help to provide an anchor for inflation expectations in the economy. The State Bank of Pakistan (SBP) has accorded a high priority to achieving a low rate of inflation, and the monetary policy also aims to support the objectives of the national country of Pakistan to meet their diversified economy and competitiveness in the export from other countries of the world. This study will also helpful to the SBP to developed their awareness of the relationship of exchange rates with KIBOR, so SBP may observed the controversy of their ups and downs fluctuations so it may controlled significantly. The bank treasury department should get the help because, they have continuously meet the exchange rates and make transactions of the countrys currency with others country currencies, so it should make them identify that if exchange rates increases or decreases it should not make effect on interest rates but their should be some inverse effect in nature. This effect should create controversy in the country economy so the central bank should make some authorized decisi on to controlled the exchange rates and interest rates The thesis is structures as follows. Chapter II provides literature review. Chapter III defines the outline of variables, their sample size, data sources and its formatting and the model. Chapter IV explains our findings and results. Finally Chapter V reports conclusion Chapter II Literature Review: This study relates to examine the relationship and effect between exchange rates with interest rates. Numbers of studies have done by the researchers, Robert A. Mundell, (1961), Bela Balassa (1964), Robert Z. Aliber, (1973), Rudiger Dornbusch, (1976), Richard A. Meese Kenneth Rogoff (1982), H.M.S Gerlach (1988), to investigate the determinants of exchange rates have applied in the world exchange rates market and help for different countries in their market development and economic growth. Researchers attempted to exemplify whether, how and to what extent the determinants of exchange rates market can contribute to the process of economic growth. Purchasing Power Parity Theory: The purchasing power parity theory doctrine means different things to different people. It has two versions of this theory that can be called the absolute and the relative interpretation. The first version of purchasing power theory calculated as a ratio of consumer goods prices for any country would tend to the equilibrium rates of exchange. In the second version of relative interpretation the rate of exchange rate would be determined between two countries and quoted with general levels of prices of two countries. It amend the international trade theory which would be the part of PPP, in which introducing the non-traded goods (services), but the advantage is greater in regards of traded goods than non-traded goods, because of the assumptions of marginal rates of transformation. The relationship between purchasing power parity and exchange rates provides the international comparison of national incomes and living standards (Bela Balassa, 1964). (Lawrence H. Officer, 1976) is the rese archer which gave another review of this purchasing power parity theory. It has define two applications in economics, the first application use of the conversion factor to transfer the data in one national way to another. The use of PPP is mainly the body of (index number theory) and applications of GDP that have improved over the years and path breaking studies in the area continue to appear. The second application of PPP has not the widespread acceptance, which has remained the unsophisticated applications. A.C. Stockman, (1980), develops the model of determination of exchange rates and prices of goods. The changes in prices of goods due to supply and demand would affect the changes in exchange rates with deviations of purchasing power parity. The changes in exchange rates have failed to resemble the changes in prices of goods, because exchange rates more volatile than prices levels and inflation rates. The research proposes the equilibrium of exchange rates behavior and different international goods that would have been traded. This relationship cannot be exploited by the government, because the greater the changes in terms of trade the larger the changes in exchange rates variability. The deviations from PPP persist that variation of exchange rates more than ratios of price indexes. The results found the two interpretation of the relationship between exchange rates and terms of trade. In the first, the causes that affect the changes in exchange rates would also affect the change in te rms of trade because prices of goods do not adjust to clear the markets. This interpretation would also found in the research of Dornbusch (1976), and Isard (1977), they formally differentiates the system with respect to exchange rates and allow prices to change but not the changing in asset stocks. The another interpretation presented the elasticity approach of the foreign exchange market and the relation between the trade and exchange rates. Real supply and demand shocks affect prices and the derived demand of exchange rates. The affect of such a shift has the advantage to raise the value of currency in terms of foreign currencies relative PPP. These changes in demand for foreign exchange would result the supply and demand shocks and that should affect the equilibrium of exchange rates. In second interpretation the expected rate of change of exchange rates revealed on the forward foreign exchange market. This should be related the anticipated change in the terms of trade and the i nflation differentials. A persuasive argument about the level of exchange rates is only associated with not causes of the relative prices changes. Clas Wihlborg, (1982), examined the relation of interest rates, exchange rate and currency risks in this research. It identifies the test which empirically impact of currency on interest rates and exchange rates. In this research there are three different ways in which the importance of currency risks for interest rate and exchange rate determination. First different risk characteristics of assets denominated in different currencies. Second changes in the level of risks that affect the elastic ties of substitutes among different assets and the monetary policy. Third changes in the level of risks on alternative assets which have a direct impact on rates of return. This research used the three specifications of the dependent variable to test the theory, firstly the rates of return is adjusted for the expected rate of changes in the exchange rates, second difference between nominal rates of interest and third rate of change of deviation from the exchange rate. The results presented here that substantiate the changes in the level of currency risk have a non-negligible impact on the rates of change of exchange rates and on relatives rates of interest between currencies. The risks explain the small share of variation in these variables. Another results indicate that the nominal interest rate seem to adjust in fiscal policies and savings behavior but not affect real rates of interest. But changes in relative risks level would affect relative rates on interest these changes still be important for the substitutability between assets of different currency denominations. Richard Meese Kenneth Rogoff, (1983), analysis the out of sample forecasting accuracy on various models. It estimated the horizons of the dollar with different country currencies, like Dutch mark, Japanese yen, and Britain pound that traded to weight the dollar exchange rates. Its also studied the flexible exchange rates with the monetary models of sticky price, so the model of sticky price, which incorporates the current account. The first model is structural models in which it requires to generate the forecasts of exchange rates and explanatory variables. It contains the explanatory power, but its predicted badly because the explanatory variables are difficult to predict. The second is the univariate times series model in which identify a variety of prefiltering techniques involve differencing, de-seasonalizing and removing time trends. The relative performance of these techniques is of interest in itself. The third model use is the random walk model; it should also link with this univariate time series model. It uses as the predictor of the current spot rate with the entire future spot rate, and it requires no estimation. In this research the performance of estimated univariate time series models or candidate structural model is so worse. From a methodological stand point the view that the out of sample model fit is an important criterion when evaluating exchange rate, but the estimation of out of sample is failure with time series models, that are well approximated the major country exchange rates. John Bilson, (1985), gives the empirical findings about macro economic and flexible exchange rate of the U.S dollar related to PPP theory. From the perspective of this research in which sluggish price adjustment in the commodity markets resulted in increased variability in exchange rates. For the demonstration of result it is important because the instability of floating exchange rate could be due to the inherent differences between commodity and foreign exchange markets. The determination of the expected future rate is impossible, because it is more difficult to reject the forward parity condition. The major part of the forward parity is the variation in the premium is due to the forecast. The object of this research is to determine that if the forward parity failed is the cause of instability in the same way that the failure of purchasing power parity. The findings develop that currency risk premium is the important factor relative to floating rate system, and movement in the excha nge rate are dominated by the non speculative activity and it has the adverse effect on world economy. Roger D. Huang, (1987), evaluate that the expected change in the exchange rate of two countries equals the expected differentials in their inflation rats over the same holding period. It makes the empirical evidence link with PPP theory and obtained that the changes in expected nominal exchange rate is appear to deviate inflation rate systematically. It relates the PPP based on the constraint that, in efficient market the net return to speculators engaging in speculation on goods in the foreign country. The purpose of this research is to know the equality restriction between expected nominal exchange rate and expected inflation rate differentials. The investigation should have the result that the evidence is inconsistent with the current floating exchange rates over the major industrialized countries. Since the test perform meaningful in conjunction with market efficiency and simply indicate the failure expectations. John Doukas Abdul Rahman, (1987), conducted the unit root test for the presence of evidence from the foreign exchange futures market, and gets the representation of foreign exchange currency future prices. The research describes the procedure from the foreign exchange future markets on five different currencies with varying maturity. It was found that presence in the series may cause the OLS estimates and its true value leading to errors, for small sample sizes the model has smaller forecast error. The process generate the log of currencies future rates by random walk, and it is consistent with other model of asset price determination that they imply the mean and dispersion of returns that don not change over short time period. But in general if follow the random walk; it is line with (Meese Singletons) findings from the spot and forward exchange market. H.J. Edison, (1987), addresses that whether PPP is valid in the long run movements in exchange rates, though it is failed in the short run. However number of studies was conduct for the behavior of exchange rates, Alder Lehmann (1983), Frankel (1986), developed more statistical techniques to examine the validity of exchange rates in the long run. Both of these have provided the evidence that PPP does not hold the exchange rates behavior in the long run. This research also incorporates the error correction mechanism and discusses the empirical results which generally show the result of failure of exchange rate support by PPP in the long run. In general, the result indicates the force which exists in the economy for driving the exchange rates towards the PPP equilibrium. The main conclusion from this research is the PPP relationship does not represents the exchange rates n the long run holding, so that the PPP permanent deviations cannot ruled out. This shows the reinforcement of PPP theory that was tested the fixed rate counterpart and the equalization of prices across countries, and it supports an interpretation of the PPP doctrine. This proportionality between the exchange rates and price level emerges in the long run. Richard Meese Kenneth Rogoff, (1988), examined the relationship between real exchange rates and real interest rate differentials from different countries. It based on the joint hypothesis that the prices of the domestic currency are sticky and the disturbances of monetary policy are predominant, which would found the little evidence of a stable relationship between interest rates and exchange rates. It is true that in many cases the sign of the estimated exchange rate and interest rate differential relationship is consistent with the possible predominance of financial market disturbances, but the relationship is not stable enough to be statistically significant. In Quasi reduced form real exchange rate models, examined the real versions of alternative rational expectations monetary models of exchange rate determination. In the nominal rate models, the exchange rate depends on fundamentals such as relative national money supplies, real incomes, short-term interest rates, expected inf lation differentials, and cumulated trade balances. The rationale view for this approach is that the nominal exchange rates poor performance is primarily attributable to money demand disturbances, so it can define the close relationship between there real interest differentials and real exchange rates, because, in the class of monetary models considered here, unanticipated money demand disturbances affect both variables proportionately. Feinberg Seth Kaplan, (1992), evaluate and interacts the real exchange rates index expectations is developed and used to explore the role of determination on domestic producer prices. The fact that time path of the exchange rate will directly affect the input costs, and the price of substitutes strongly. To examine the links between both actual and anticipated movements in the dollar and relative domestic producer prices, it chooses to analyze price responses to real exchange rate changes. The effect is dependent on the nature of substitutability between imports and domestic goods. The major finding is that the period of appreciation and depreciation over the past 10 years to inhibit the pass through in to domestic prices. In depreciation the market share to enjoy the continued good times kept prices other than expected. Warren Bailey Peter Chung, (1995), considers the study that the impact of fluctuations on exchange rates and political risk is on the risks premium and is reflected the individual equity returns. It suggests the factors which is common for emerging market equity, currency and debt markets, and make empirical implications to evaluate corporate and portfolio management. If price levels and exchange rate are significantly volatile and cannot be costly hedged, are adversely affected in the real value of the domestic currency. Some evidence that exchange rate fluctuations are a priced factor in cross sections of stock return converted into a common currency. The purpose of this research is to explore the impact of fluctuations on exchange rates and political risk which is consider on stock process of individual companies from the same country. The extent of measurement is that, which exposure factors explain cross sections of returns on individual securities and industry portfolios. The result suggests that the exchange rates and political risks could be significant in equity markets. The result also suggests that the risk premium can be time varying and not be detected by assuming constantly. This research shows the results that it did not find the evidence of the equity market premiums for the currency and political risk. It complements the importance to attach the exchange rates and political risk in the international finance. J.R. Lothian M.P. Taylor, (1996), examines the real exchange rate behavior, and explains the variations in sample of stationary univariate equations in real exchange rates. It investigates the additional insight in the exchange rates behavior that can be gained by considering the floating rate from the perspective of the data. These issues can be best understood on the subject of real exchange rates stability between the currencies of the major industrialized countries. Some of the pre-float studies support the fairly stable exchange rates in the long run. Subsequently, Dornbusch (1976), Frenkel (1981), gave largely as the result of studies published, and reject the hypothesis of random walk behavior of real exchange rates. The PPP shows the empirical movements in real exchange rates were highly persistent and effective; although the PPP is reject the hypothesis of non-stationary behavior of real exchange rates in the long run. The result of this research shows that the longest span of two countries exchange rates are significantly mean reverting. The first model result indicates the 80 percent of the variation in the exchange rates of the history data of two countries. By using of another model, the results explaining the performance of remarkably well in the floating, so that they produce better forecasts of the actual exchange rates. In line with recent studies, it fined that this process of mean reverting is quit slow, with estimated adjustment of data. In the long run the PPP equilibrium is remaining a useful empirical approximation. The deviations of the PPP that observe are consistent with the existence of slowly mean reverting influences, which may be real or monetary regimes. Theory of Optimum Currency Areas: The theory of optimum currency areas, which is usually presented the other name called flexible exchange rate system, but it is proponents as a device of depreciation that take the place of unemployment when the balance of payment is deficit and appreciation when it replace inflation when it is surplus. The problem can be exposed and more revealing by defining a currency area within when exchange rates are fixed. To this three answer can be given; first certain parts of the world are going processes of economic integration, so new experience can be made and at what constitutes the optimum currency area can give the meaning of these experiments. Second those countries that have flexible exchange rates are likely to face problems with the theory of optimum currency areas, so it does not coincide the optimum currency areas with the national currency. Third the idea that illustrates the functions of currencies which have been treated in economic literature, and sometimes neglected in the problems of economic policy. In the currency area, different currency countries including national country currencies interact pace of employment in deficit, because there is the willingness to inflation by the surplus countries. The argument for flexible exchange rate system is based on national currencies, and is valid about mobility of factor, so if it is high in the country and low in the foreign countries, the flexible exchange rates system on home country currencies might work effectively. The concept of optimum currency area has practically applicable only in those areas, where the state has the political organization in the country. The factor mobility is most considered is more relative rather than absolute concept, with both industrial and geographical. It likely to change the alterations with time over time in conditions, where the conditions of political and economic stability. Money is the convenience that restricts the optimum number of currencies, so in terms of this argument the optimum currency area which is composed in number of countries. (Robert A. Mundell, 1961). In another review the author defines the stabilization of capital mobility policy under the exchange rates which is fixed and flexible in the currencies markets; it concerns the theoretical and practical approach of the increased mobility of capital. The assumption is that the interest rate differentials from the level of abroad cannot maintain by the country, if there is the degree of mobility. The securities system are perfect substitutes, because different currencies are involved can be taken in the perfect mobilization, and there exchange rates expected to persist indefinitely, but the forward and spot exchange rate are identical. It identify the monetary and fiscal policy, in which monetary policy assumed the open market purchase of securities while fiscal policy is to form of increase in government spending and financed by an increased in public debt. Its effect the floatin g exchange rate result when monetary policy does not intervene in the exchange market, but it intervene the fixed exchange rates, when the buying and selling of international reserves at the rate of fixed price. The results of this research analyze that, the fixed exchange rates is become a device for the monetary policy and for the levels of reserve, whereas the flexible exchange rates becomes a device for the fiscal policy and for the balance of trade, but policies are unaffected to the level of output and employment. The fixed exchange rates in the perfect mobility will lead to the breakdown as the absence of gold sterilization. The gold sterilization is frustrated the capital outflows and offsetting monetary changes through the exchange rates equalization. The conclude remarks is that, the fixed exchange rates as compared to flexible exchange rates is ineffective under monetary policy, but in fiscal policy both the exchange rates either fixed or flexible are remains weaker for a chieving the level of output. The flexible exchange rates under fiscal policy to play some role in employment policy that can be expected, while monetary policy can have influence on output under fixed exchange rates. In this possibility existing, it wills lesser extent in the future. (R.A. Mundell, 1968). J.H. Makin, (1978), analysis the way to deal the risks involved in foreign exchange currency positions but exchange rates are uncertain. It incorporates the exchange rate changes with the changes in the determination of overall hedging strategy. The purpose is to survey the literature rather to examine the logic on hedge no hedge strategy and to suggest the viewing problem of exchange risk. It identifies the exchange risk diversification in two groups. First diversification investigates the exchange risk with the investor point of view selecting the locations of firms in different countries which denominated in different currencies. The second considers exchange risk with the firm manager point of view to decrease the impact of exchange rate fluctuations. The study concentrates the exchange risk and not overall corporate risk, so the analysis of co Exchange Rates and Interest Rates in Pakistan Analysis Exchange Rates and Interest Rates in Pakistan Analysis Abstract This paper endeavors the relationship and the positive effect between exchange rates and interest rates in Pakistan by utilizing the foreign exchange market and current scenario of increasing interest rates because of increasing exchange rates to represent the economic position of Pakistan. The data by the researcher is all on daily basis for the above variables from the period of September 2001 to May 2008 for exchange rates, while for interest rates (6 month KIBOR) from the period of September 2001 to May 2008. The researcher implement regression model to test the effect of exchange rates progression on interest rates. So in this result, there is the issue of auto correlation exists and it shows the serial correlation between these variables. The issue should be resolved by taking time and KIBOR lag values as the dumm dependent variables. The study concludes on this way that there is the negative relationship between exchange rates and interest rates (KIBOR) in Pakistan and there i s the impact of time and KIBOR on KIBOR.. It identifies that when exchange rates increases, there is decreasing in interest rates (KIBOR). This results and relationship is consistent as predicted by Meese and Rogoff (1988). INTRODUCTION Every country has its own financial markets and it is the back bone of a countrys economy. The financial markets is divided in parts like foreign exchange market, stock market, money market, bond market etc. In this study, the researcher is focuses on the foreign exchange market, which is commonly known as Forex. It is the largest and most prolific part of financial market and defining the balancing of countrys economy, because every particular day, there are approximately one trillion amount of foreign exchange takes place in the countries around the world. The actual mechanism of the foreign exchange, that it is work as the main driving force for an any countys economy in the world. Therefore, any country in the world should challenge their currency in the global economic markets. In the exchange markets for all the countries, home country currencies trade with other foreign country currencies. The foreign exchange market system is needed for every developed and under developed cou ntry; this system known as currency in exchange determination. For the determination of the value of a currencys exchange rate, there are two main types of system is used, one is floating exchange rates system and the other is fixed exchange rates system. The intervention of government officials authorities in the foreign exchange market is to influence the exchange rate fluctuation as a worldwide phenomenon. The authorities intervene maintaining the objective to orderly market conditions that ultimately help to achieve the overall macroeconomic goals. However, the exchange rate has playing an important role in terms of the flexibility in macroeconomic framework to deal with changes in the external terms of trade, but the monetary policy also aims the national objectives of economic diversification and to support export competitiveness. The ineffective monetary policy under fixed exchange rates as compared to flexible exchange rates, but fiscal policy under both fixed and flexible exchange rates remains weaker of achieving the level of output. (R.A. Mundell, 1968). The level of currency risk changes, it has no negligible impact on the rates of change of exchange rates and on relatives rates of interest between currencies. (Clas Whilborg, 1982). The risk premium of the currency is the important factor relative to floating exchange rate system, but movements in the exchange rate are dominated by the non speculative activity and it has the adverse effect on world economy. (John bilson, 1985). The true statement that in many cases the sign of the estimated exchange rate-interest rate differential relationship is consistent with the possible predominance of financial market disturbance (R. Meese K. Rogoff, 1988). The consequences changes in the nominal interest rate reflect changes in the tightness of monetary policy. T he higher the interest rate in the country attracts the capital inflow, which causes the domestic currency appreciates, so this gets the relationship could be negative between the exchange rate and nominal interest rate differentials. (J.A. Frankel, 1979). The assets are dominated and exchange risks interest reflects the interest rate parity when different currencies affect political risk and thats why assets are issued in different currencies. Thus the interest differentials to the political risk of future capital control must be distinguished due to the effective tax that controls the place in interest earnings. (M.P. Dooley P. Isard, 1980). The concept of political risk is that the probability authority of the state will be interposed between investors in one country and investment opportunities in other countries that is the probability that controls the imposed on capital flows. (R.Z. Aliber, 1973). If price levels and exchange rate are significantly volatile and cannot be cos tly hedged, are adversely affected in the real value of the domestic currency. There is some evidence that exchange rate fluctuations are a priced factor in cross sections of stock return converted into a common currency. (W. Bailey P. Chung, 1995). In the perfect mobility the exchange rate movements and an adjustment of goods market is relative to asset market and consistent expectations. The extends that output responds to a monetary expansion in the short run, this acts as an effect on exchange depreciation which lead to an increase in interest rates. (Rudiger Dornbusch, 1976). The foreign exchange gain or loss is made in the course of covering; consider being capital assets, so this gain or loss treated on capital account. This shows the highly sensitive interest dynamics with exchange rates. (M.D. Levi, 1977). The variability of industrial production output will be higher in the regime of fixed exchange rates instead of regime of flexible exchange rates. (Flood Hodrick, 1986) . The effect of consumption goods purchases by the government is not the private utility, but per capita real government expenditure are the composite of individual consumption of goods. So notice that the demand of money its depends on consumption of goods rather than income and that is the important distinction of closed economies.(Obstfeld Rogoff, 1995). The fixed and floating exchange rates depend on higher welfare yield and on the nature of sticky prices, so the risk would be shared and there are some opportunities to aware. The evidence, which should give opportunities about price setting and risk sharing are not refined and not to make the definite conclusions for the optimal regime of the exchange rate of that country. There are three types of ways which gives stickiness in prices, the prices which would set by the firms in their own currencies, the firms would set the prices for consumers currencies, or firms would set the prices in the currencies of producers. (Charles En gel, 2001). When the exchange rates changes, it may cause to appear the changes in relative prices and make to generate additional uncertainty for equilibrium in markets. However, there is also defining that the changes in terms of trade would play the larger role of changes in the exchange rates which affect the variability of exchange rates. (A.C. Stockman, 1980). This study explores to investigate the determinants of exchange rates in developing country such as Pakistan. The framework of this study is concern to be conceptual and theoretical and is to set up the ground of unidirectional causality from exchange rates to economy. In principal, it determines the exchange rates relationship with interest rates so it will spurs the determinants in Pakistan with related to the economy. This view implies that the choice of an exchange rates regime be a relatively simple, if countries were faced to intervene regularly in the foreign exchange market to stabilize, therefore the monetary authorities intervene with the objective of maintaining orderly market conditions, which ultimately help to achieve the overall macroeconomic goals. The discretionary nature of the existing monetary policy in Pakistan is inflation, and it is targeting to hit on the Pakistani economy by focusing attention on the monetary policy. So the government of Pakistan is to make t heir monetary policy more transparent for achieving their explicit goal, and decreasing the inflation. Therefore, it is increasing the publics understanding of the central banks strategy to deliver the target, so the State Bank of Pakistan will help to provide an anchor for inflation expectations in the economy. The State Bank of Pakistan (SBP) has accorded a high priority to achieving a low rate of inflation, and the monetary policy also aims to support the objectives of the national country of Pakistan to meet their diversified economy and competitiveness in the export from other countries of the world. This study will also helpful to the SBP to developed their awareness of the relationship of exchange rates with KIBOR, so SBP may observed the controversy of their ups and downs fluctuations so it may controlled significantly. The bank treasury department should get the help because, they have continuously meet the exchange rates and make transactions of the countrys currency with others country currencies, so it should make them identify that if exchange rates increases or decreases it should not make effect on interest rates but their should be some inverse effect in nature. This effect should create controversy in the country economy so the central bank should make some authorized decisi on to controlled the exchange rates and interest rates The thesis is structures as follows. Chapter II provides literature review. Chapter III defines the outline of variables, their sample size, data sources and its formatting and the model. Chapter IV explains our findings and results. Finally Chapter V reports conclusion Chapter II Literature Review: This study relates to examine the relationship and effect between exchange rates with interest rates. Numbers of studies have done by the researchers, Robert A. Mundell, (1961), Bela Balassa (1964), Robert Z. Aliber, (1973), Rudiger Dornbusch, (1976), Richard A. Meese Kenneth Rogoff (1982), H.M.S Gerlach (1988), to investigate the determinants of exchange rates have applied in the world exchange rates market and help for different countries in their market development and economic growth. Researchers attempted to exemplify whether, how and to what extent the determinants of exchange rates market can contribute to the process of economic growth. Purchasing Power Parity Theory: The purchasing power parity theory doctrine means different things to different people. It has two versions of this theory that can be called the absolute and the relative interpretation. The first version of purchasing power theory calculated as a ratio of consumer goods prices for any country would tend to the equilibrium rates of exchange. In the second version of relative interpretation the rate of exchange rate would be determined between two countries and quoted with general levels of prices of two countries. It amend the international trade theory which would be the part of PPP, in which introducing the non-traded goods (services), but the advantage is greater in regards of traded goods than non-traded goods, because of the assumptions of marginal rates of transformation. The relationship between purchasing power parity and exchange rates provides the international comparison of national incomes and living standards (Bela Balassa, 1964). (Lawrence H. Officer, 1976) is the rese archer which gave another review of this purchasing power parity theory. It has define two applications in economics, the first application use of the conversion factor to transfer the data in one national way to another. The use of PPP is mainly the body of (index number theory) and applications of GDP that have improved over the years and path breaking studies in the area continue to appear. The second application of PPP has not the widespread acceptance, which has remained the unsophisticated applications. A.C. Stockman, (1980), develops the model of determination of exchange rates and prices of goods. The changes in prices of goods due to supply and demand would affect the changes in exchange rates with deviations of purchasing power parity. The changes in exchange rates have failed to resemble the changes in prices of goods, because exchange rates more volatile than prices levels and inflation rates. The research proposes the equilibrium of exchange rates behavior and different international goods that would have been traded. This relationship cannot be exploited by the government, because the greater the changes in terms of trade the larger the changes in exchange rates variability. The deviations from PPP persist that variation of exchange rates more than ratios of price indexes. The results found the two interpretation of the relationship between exchange rates and terms of trade. In the first, the causes that affect the changes in exchange rates would also affect the change in te rms of trade because prices of goods do not adjust to clear the markets. This interpretation would also found in the research of Dornbusch (1976), and Isard (1977), they formally differentiates the system with respect to exchange rates and allow prices to change but not the changing in asset stocks. The another interpretation presented the elasticity approach of the foreign exchange market and the relation between the trade and exchange rates. Real supply and demand shocks affect prices and the derived demand of exchange rates. The affect of such a shift has the advantage to raise the value of currency in terms of foreign currencies relative PPP. These changes in demand for foreign exchange would result the supply and demand shocks and that should affect the equilibrium of exchange rates. In second interpretation the expected rate of change of exchange rates revealed on the forward foreign exchange market. This should be related the anticipated change in the terms of trade and the i nflation differentials. A persuasive argument about the level of exchange rates is only associated with not causes of the relative prices changes. Clas Wihlborg, (1982), examined the relation of interest rates, exchange rate and currency risks in this research. It identifies the test which empirically impact of currency on interest rates and exchange rates. In this research there are three different ways in which the importance of currency risks for interest rate and exchange rate determination. First different risk characteristics of assets denominated in different currencies. Second changes in the level of risks that affect the elastic ties of substitutes among different assets and the monetary policy. Third changes in the level of risks on alternative assets which have a direct impact on rates of return. This research used the three specifications of the dependent variable to test the theory, firstly the rates of return is adjusted for the expected rate of changes in the exchange rates, second difference between nominal rates of interest and third rate of change of deviation from the exchange rate. The results presented here that substantiate the changes in the level of currency risk have a non-negligible impact on the rates of change of exchange rates and on relatives rates of interest between currencies. The risks explain the small share of variation in these variables. Another results indicate that the nominal interest rate seem to adjust in fiscal policies and savings behavior but not affect real rates of interest. But changes in relative risks level would affect relative rates on interest these changes still be important for the substitutability between assets of different currency denominations. Richard Meese Kenneth Rogoff, (1983), analysis the out of sample forecasting accuracy on various models. It estimated the horizons of the dollar with different country currencies, like Dutch mark, Japanese yen, and Britain pound that traded to weight the dollar exchange rates. Its also studied the flexible exchange rates with the monetary models of sticky price, so the model of sticky price, which incorporates the current account. The first model is structural models in which it requires to generate the forecasts of exchange rates and explanatory variables. It contains the explanatory power, but its predicted badly because the explanatory variables are difficult to predict. The second is the univariate times series model in which identify a variety of prefiltering techniques involve differencing, de-seasonalizing and removing time trends. The relative performance of these techniques is of interest in itself. The third model use is the random walk model; it should also link with this univariate time series model. It uses as the predictor of the current spot rate with the entire future spot rate, and it requires no estimation. In this research the performance of estimated univariate time series models or candidate structural model is so worse. From a methodological stand point the view that the out of sample model fit is an important criterion when evaluating exchange rate, but the estimation of out of sample is failure with time series models, that are well approximated the major country exchange rates. John Bilson, (1985), gives the empirical findings about macro economic and flexible exchange rate of the U.S dollar related to PPP theory. From the perspective of this research in which sluggish price adjustment in the commodity markets resulted in increased variability in exchange rates. For the demonstration of result it is important because the instability of floating exchange rate could be due to the inherent differences between commodity and foreign exchange markets. The determination of the expected future rate is impossible, because it is more difficult to reject the forward parity condition. The major part of the forward parity is the variation in the premium is due to the forecast. The object of this research is to determine that if the forward parity failed is the cause of instability in the same way that the failure of purchasing power parity. The findings develop that currency risk premium is the important factor relative to floating rate system, and movement in the excha nge rate are dominated by the non speculative activity and it has the adverse effect on world economy. Roger D. Huang, (1987), evaluate that the expected change in the exchange rate of two countries equals the expected differentials in their inflation rats over the same holding period. It makes the empirical evidence link with PPP theory and obtained that the changes in expected nominal exchange rate is appear to deviate inflation rate systematically. It relates the PPP based on the constraint that, in efficient market the net return to speculators engaging in speculation on goods in the foreign country. The purpose of this research is to know the equality restriction between expected nominal exchange rate and expected inflation rate differentials. The investigation should have the result that the evidence is inconsistent with the current floating exchange rates over the major industrialized countries. Since the test perform meaningful in conjunction with market efficiency and simply indicate the failure expectations. John Doukas Abdul Rahman, (1987), conducted the unit root test for the presence of evidence from the foreign exchange futures market, and gets the representation of foreign exchange currency future prices. The research describes the procedure from the foreign exchange future markets on five different currencies with varying maturity. It was found that presence in the series may cause the OLS estimates and its true value leading to errors, for small sample sizes the model has smaller forecast error. The process generate the log of currencies future rates by random walk, and it is consistent with other model of asset price determination that they imply the mean and dispersion of returns that don not change over short time period. But in general if follow the random walk; it is line with (Meese Singletons) findings from the spot and forward exchange market. H.J. Edison, (1987), addresses that whether PPP is valid in the long run movements in exchange rates, though it is failed in the short run. However number of studies was conduct for the behavior of exchange rates, Alder Lehmann (1983), Frankel (1986), developed more statistical techniques to examine the validity of exchange rates in the long run. Both of these have provided the evidence that PPP does not hold the exchange rates behavior in the long run. This research also incorporates the error correction mechanism and discusses the empirical results which generally show the result of failure of exchange rate support by PPP in the long run. In general, the result indicates the force which exists in the economy for driving the exchange rates towards the PPP equilibrium. The main conclusion from this research is the PPP relationship does not represents the exchange rates n the long run holding, so that the PPP permanent deviations cannot ruled out. This shows the reinforcement of PPP theory that was tested the fixed rate counterpart and the equalization of prices across countries, and it supports an interpretation of the PPP doctrine. This proportionality between the exchange rates and price level emerges in the long run. Richard Meese Kenneth Rogoff, (1988), examined the relationship between real exchange rates and real interest rate differentials from different countries. It based on the joint hypothesis that the prices of the domestic currency are sticky and the disturbances of monetary policy are predominant, which would found the little evidence of a stable relationship between interest rates and exchange rates. It is true that in many cases the sign of the estimated exchange rate and interest rate differential relationship is consistent with the possible predominance of financial market disturbances, but the relationship is not stable enough to be statistically significant. In Quasi reduced form real exchange rate models, examined the real versions of alternative rational expectations monetary models of exchange rate determination. In the nominal rate models, the exchange rate depends on fundamentals such as relative national money supplies, real incomes, short-term interest rates, expected inf lation differentials, and cumulated trade balances. The rationale view for this approach is that the nominal exchange rates poor performance is primarily attributable to money demand disturbances, so it can define the close relationship between there real interest differentials and real exchange rates, because, in the class of monetary models considered here, unanticipated money demand disturbances affect both variables proportionately. Feinberg Seth Kaplan, (1992), evaluate and interacts the real exchange rates index expectations is developed and used to explore the role of determination on domestic producer prices. The fact that time path of the exchange rate will directly affect the input costs, and the price of substitutes strongly. To examine the links between both actual and anticipated movements in the dollar and relative domestic producer prices, it chooses to analyze price responses to real exchange rate changes. The effect is dependent on the nature of substitutability between imports and domestic goods. The major finding is that the period of appreciation and depreciation over the past 10 years to inhibit the pass through in to domestic prices. In depreciation the market share to enjoy the continued good times kept prices other than expected. Warren Bailey Peter Chung, (1995), considers the study that the impact of fluctuations on exchange rates and political risk is on the risks premium and is reflected the individual equity returns. It suggests the factors which is common for emerging market equity, currency and debt markets, and make empirical implications to evaluate corporate and portfolio management. If price levels and exchange rate are significantly volatile and cannot be costly hedged, are adversely affected in the real value of the domestic currency. Some evidence that exchange rate fluctuations are a priced factor in cross sections of stock return converted into a common currency. The purpose of this research is to explore the impact of fluctuations on exchange rates and political risk which is consider on stock process of individual companies from the same country. The extent of measurement is that, which exposure factors explain cross sections of returns on individual securities and industry portfolios. The result suggests that the exchange rates and political risks could be significant in equity markets. The result also suggests that the risk premium can be time varying and not be detected by assuming constantly. This research shows the results that it did not find the evidence of the equity market premiums for the currency and political risk. It complements the importance to attach the exchange rates and political risk in the international finance. J.R. Lothian M.P. Taylor, (1996), examines the real exchange rate behavior, and explains the variations in sample of stationary univariate equations in real exchange rates. It investigates the additional insight in the exchange rates behavior that can be gained by considering the floating rate from the perspective of the data. These issues can be best understood on the subject of real exchange rates stability between the currencies of the major industrialized countries. Some of the pre-float studies support the fairly stable exchange rates in the long run. Subsequently, Dornbusch (1976), Frenkel (1981), gave largely as the result of studies published, and reject the hypothesis of random walk behavior of real exchange rates. The PPP shows the empirical movements in real exchange rates were highly persistent and effective; although the PPP is reject the hypothesis of non-stationary behavior of real exchange rates in the long run. The result of this research shows that the longest span of two countries exchange rates are significantly mean reverting. The first model result indicates the 80 percent of the variation in the exchange rates of the history data of two countries. By using of another model, the results explaining the performance of remarkably well in the floating, so that they produce better forecasts of the actual exchange rates. In line with recent studies, it fined that this process of mean reverting is quit slow, with estimated adjustment of data. In the long run the PPP equilibrium is remaining a useful empirical approximation. The deviations of the PPP that observe are consistent with the existence of slowly mean reverting influences, which may be real or monetary regimes. Theory of Optimum Currency Areas: The theory of optimum currency areas, which is usually presented the other name called flexible exchange rate system, but it is proponents as a device of depreciation that take the place of unemployment when the balance of payment is deficit and appreciation when it replace inflation when it is surplus. The problem can be exposed and more revealing by defining a currency area within when exchange rates are fixed. To this three answer can be given; first certain parts of the world are going processes of economic integration, so new experience can be made and at what constitutes the optimum currency area can give the meaning of these experiments. Second those countries that have flexible exchange rates are likely to face problems with the theory of optimum currency areas, so it does not coincide the optimum currency areas with the national currency. Third the idea that illustrates the functions of currencies which have been treated in economic literature, and sometimes neglected in the problems of economic policy. In the currency area, different currency countries including national country currencies interact pace of employment in deficit, because there is the willingness to inflation by the surplus countries. The argument for flexible exchange rate system is based on national currencies, and is valid about mobility of factor, so if it is high in the country and low in the foreign countries, the flexible exchange rates system on home country currencies might work effectively. The concept of optimum currency area has practically applicable only in those areas, where the state has the political organization in the country. The factor mobility is most considered is more relative rather than absolute concept, with both industrial and geographical. It likely to change the alterations with time over time in conditions, where the conditions of political and economic stability. Money is the convenience that restricts the optimum number of currencies, so in terms of this argument the optimum currency area which is composed in number of countries. (Robert A. Mundell, 1961). In another review the author defines the stabilization of capital mobility policy under the exchange rates which is fixed and flexible in the currencies markets; it concerns the theoretical and practical approach of the increased mobility of capital. The assumption is that the interest rate differentials from the level of abroad cannot maintain by the country, if there is the degree of mobility. The securities system are perfect substitutes, because different currencies are involved can be taken in the perfect mobilization, and there exchange rates expected to persist indefinitely, but the forward and spot exchange rate are identical. It identify the monetary and fiscal policy, in which monetary policy assumed the open market purchase of securities while fiscal policy is to form of increase in government spending and financed by an increased in public debt. Its effect the floatin g exchange rate result when monetary policy does not intervene in the exchange market, but it intervene the fixed exchange rates, when the buying and selling of international reserves at the rate of fixed price. The results of this research analyze that, the fixed exchange rates is become a device for the monetary policy and for the levels of reserve, whereas the flexible exchange rates becomes a device for the fiscal policy and for the balance of trade, but policies are unaffected to the level of output and employment. The fixed exchange rates in the perfect mobility will lead to the breakdown as the absence of gold sterilization. The gold sterilization is frustrated the capital outflows and offsetting monetary changes through the exchange rates equalization. The conclude remarks is that, the fixed exchange rates as compared to flexible exchange rates is ineffective under monetary policy, but in fiscal policy both the exchange rates either fixed or flexible are remains weaker for a chieving the level of output. The flexible exchange rates under fiscal policy to play some role in employment policy that can be expected, while monetary policy can have influence on output under fixed exchange rates. In this possibility existing, it wills lesser extent in the future. (R.A. Mundell, 1968). J.H. Makin, (1978), analysis the way to deal the risks involved in foreign exchange currency positions but exchange rates are uncertain. It incorporates the exchange rate changes with the changes in the determination of overall hedging strategy. The purpose is to survey the literature rather to examine the logic on hedge no hedge strategy and to suggest the viewing problem of exchange risk. It identifies the exchange risk diversification in two groups. First diversification investigates the exchange risk with the investor point of view selecting the locations of firms in different countries which denominated in different currencies. The second considers exchange risk with the firm manager point of view to decrease the impact of exchange rate fluctuations. The study concentrates the exchange risk and not overall corporate risk, so the analysis of co