Waves

When people think of waves they may think of a nice vacation or maybe a storm. Most people may not think about what causes waves or how waves can get so tall and powerful. In addition, people may not think about how tides are formed. The movement of waves includes information about how waves form, how they move, what happens when waves interact, and some of the effects of waves. When people visit a beach, they might realize the daily rise and fall of the water, or how high and low tides can get. Tides are caused by the moon, sun, and the earth and are almost never are the same size or duration.A tide can spread out to be much bigger than what it was predicted to be (Simon 1990). The easiest tidal sequence is the semidiurnal tide. A semidiurnal tide has two high tides and two low tides of about equal height each day. Semidiurnal tides may have a daily inequity where successive hide tides have different heights. Semidiurnal tides are often easy to predict because high or low tides occu r a consistent length of time after the moon has passed overhead. Both the Atlantic and the Indian Oceans generally have some semidiurnal tides with two other tides each day.Spring tides normally occur when there is a full moon and the sun and the earth are in a straight line. When this happens, tides are never the same size or last the same amount of time as the people may expect. There is also neap tides and they occur when the moon is in the first or last quarter, when its gravitational pull on the oceans is at a right angle to the sun. When this happens the tide will not be the same size or last the same amount of time either. (Hawkins 2005). Therefore, the pull of the moon causes tides and these tides produce waves.Waves are the forward movement of the ocean’s water due to the oscillation of water particles by frictional drag. Waves can also vary in size and strength based on wind speed (B. Amanda). When people are considering waves, it is important to know that while it appears that the water is moving forward, only a small amount of water is actually moving. Instead, it is the wave’s energy that is moving. When the waves get too tall, relative to the water’s deepness, the wave’s stability is weakened and the entire wave falls onto the beach, forming a breaker.Breakers come in all different types. The type of a breaker is determined by the slope of the shoreline. Falling breakers are caused by a steep slope. Spilling breakers occur when the shoreline has a gentle or gradual slope. Crests of waves are formed by a thrust or the forward push of the wave. Which could lead to the development of breakers. Sometimes, huge waves are created by undersea earthquakes or the pointy motions in the seafloor. These huge waves are called tsunamis or tidal waves. They can make really big messes and can kill a lot of people (B, Amanda).Waves are put into categories and named according to how they are formed and how they appear. Waves that are l ooped as they reach the shoreline are called ocean currents. These currents are generated in the surf zone when the front end of the wave pushes to the shore and then slows down. Wind also causes waves and these are called surface waves. Regular patterns of smooth, rounded waves in the open are called swells. Swells means that they are mature undulations of water in wave energy that has left the wave generating region (B,Amanda).When waves meet and interact they form what is called an interference. The interference occurs when the crest and trough are between two waves that are align and then they combine. The action of an interference makes a dramatic increase in wave height. When water molecules get the energy they move forward,and all of the waves are forced closer together because they are now moving a lot slower because of the wind speed. The movement of wind speed over the oceans generates corresponding movements in the water. When the seafloor becomes shallow the waves become flattened(B,Amanda).An underwater earthquake can trigger a tsunami that creates a long, fault rupture that can get up to or over 800 miles long(B,Amanda). â€Å"In December 2004, an underwater earthquake was triggered a string of tsunamis along the Indian Ocean with overwhelming effects. Scientists have found a break in the sea floor faults which are causing the earthquakes, tsunamis, and waves to be extremely dangerous. † (B,Amanda) Since waves are so powerful they have a big impact on the shape of the world’s coastlines. Generally, they straighten coastlines.Sometimes headland’s composed old rocks are very resistant to erosion just into the ocean and force waves to bend around them. When this happens, the waves energy is spread out over multiple areas and different sections of the coastline which receive different amounts of energy and are then shaped differently by waves(B,Amanda). Waves can also cancel out each other through when crest meets a tough or vise versa. The movement of sand, gravel, and concrete with the long shore drift is know as deposition. Coastal landforms caused by deposition include barrier spits, bay barriers, lagoon, tombolos and even beaches themselves.Coastal features found today include cliffs, wave cut platforms, sea caves, and arches. These types of features make it clear that ocean waves have a tremendous impact on today shoreline. Erosion also creates many of the coastal features found today. It can also act in taking away sand and sediment from beaches especially on those that have heavy wave action. Erosion also creates many of the coastal waves today(Amanda B). Erosion is a broadly defined group of processes involving the movement of soil and rock. This movement is often the result of flowing agents, whether wind, water, or ice.

Tapescript Role Play in Business Meetings

Tapescript – Role Play in Business Meetings (NF=Nigel Fraser, M=Martin, J=John, E=Eliana, D=Denise, MK=Markus) NI  think we all agree that we need to work a  lot better as a  team. I’ve got some suggestions for improving our teamwork. I’d like to share them with you and see how you feel about them. OK, let’s start with meetings. At the moment we meet once a month. That’s not enough. In future, I’d like us all to meet once every two weeks. I would expect everyone to attend, and to be on time – that’s not the case at the moment as you know. So Martin, what do you think?MTotally against the idea, to be honest. Once a month is fine, surely. I’m making the most money for us at the moment and I can’t go on doing that if I have to attend meetings all the time. Anyway, when we do meet, we spend most of the time arguing with each other. A lot of them are a waste of time. No, keep things as they are. NThank you, Martin . John, what do you think? Meeting once every two weeks. Compulsory attendance. JIt’s a good idea. Why not? We need to spend more time together to sort out problems, share ideas, that sort of thing.Actually, I think we should meet once a week. MRubbish. NNow Martin, calm down. You’ve had your say. And nothing’s been decided yet. But thanks John for backing me up on this one. Eliana, how do you feel about this? EI’ll go along with whatever you say. It really won’t affect me much. My main problem, as you well know, is I want to move from data projectors. I’d like to sell plasma screens, they’re in great demand at the moment, that’s why Martin tops our sales, it’s not difficult to be the best when you have the best products to sell. MI thought we were talking about meetings, Nigel.Do we have to listen once again to Eliana’s complaints? NNo we don’t Martin. You’re right, we’re getting off the poin t. Denise, let’s hear from you now. DThanks, I’d like more meetings, once a week would be OK for me, but I don’t know if attendance should be compulsory. But yeah, people should turn up on time, not drift in as they do at the moment. If we had more meetings, I’d get a chance to make a few suggestions for improving sales. And maybe I wouldn’t be interrupted so often by Martin and Markus. John seems to be the only person here who listens to me. AllOh come on now.Nonsense. Right. True. NCould we come to order, please? Everyone calm down. Markus? Meeting once a week, once every two weeks, or keep to once a month? What do you think? MKKeep it as it is, once a month. That’s enough. When we do have a meeting, two or three people seem to take over, and no one else can get a word in edgeways. Frankly, Nigel, our meetings are not very productive, and that’s the real problem. I’d prefer to spend time meeting our customers and trying to dr um up more sales. That’s what we’re paid for. NOK, Markus, thanks very much. Let me get a few more opinions†¦. Robert†¦. Role cards Director one You want to: ? get rid of Nigel Fraser by asking him to resign. You do not think he is a suitable person to manage the sales team. ? Replace him with a new person from outside the company. The new manager would have a fresh approach to the team’s problems. ? Have more meetings and weekly sales reports. ? Reorganize the sales team into mini-groups, for example all plasma sales staff working together. Commissions would be based on sales targets set for each mini-group. ? Think of other suggestions for improving the performance of the team.Director two You want to: ? Keep Nigel Fraser as manager – you are a close friend of Nigel. You think he’s an excellent manager of a ’difficult team’. ? Send Nigel on a short training course which helps managers to develop team building skills. ? Get rid of Martin. He is rude and upsets members of staff. ? Have fewer reports and meetings. ? Pay commissions based on the performance of the whole team. The team should be set challenging sales targets. ? Think of other suggestions for improving the performance of the team. Director three You want to: Move Nigel Fraser to another department in the company. ? Replace him with another member of the sales team – John? Denise? (you decide) ? Hold the meeting of the whole department every two weeks, and allow members to express their opinions frankly. ? Keep Martin in the team – you are Martin’s closest friend. He is a difficult person, but a brilliant salesman, in your opinion. ? Reduce the sales team from 7 members to 6 (you decide who should go). ? Reorganize the teams (you decide how). ? Think of other suggestions for improving the performance of the team.Director four You want to: ? Hear the opinions of the other directors before making up your mind. You are not sure whether to keep Nigel Fraser as manager or not. ? Have Eliana as manager if the other directors think Nigel Fraser should go. She is young, talented, and has good people management skills. ? Get rid of Markus – he is lazy, selfish and unreliable. ? Ask Vanessa Byrant to come back and advise Nigel Fraser for the next six months. ? Send staff on regular team building courses. ? Think of other suggestions for improving the performance of the team.

Business Law and Regulation Essay

If Mary damages a client’s hair she would be held liable. According to our textbook, Mary would cause injury to the plaintiff. Mary was to provide a duty of care to the customer. She breached this duty of care â€Å"failure to exercise care or to act as reasonable person would act (Cheeseman, 2010, p. 81). † The reason I state, that is because the customer trusted Mary with their hair and she damaged the client’s hair. As long as Celia and Mary register their boutique name with the United States PTO in Washington, DC, and the PTO approved it, there should not be any legal problems. If Celia and Mary decide to offer their waiting clients free music downloads, they are asking for trouble. In the case of BMG Music v. Gonzalez, Gonzalez thought that as long as she was â€Å"sampling† the music she could leave it on her computer without paying for it. That is not so. According to the courts, Gonzales had engaged in copyright infringement and Gonzalez had to pay $22,500 in damages to BMG (Cheeseman, 2010, p. 117). I would advise them making this huge mistake unless; they decide to pay for each download that they are providing to their waiting clients they could be breaking the law. There could be civil liability to Celia and Mary if one of their employees sexually harassed a customer. This falls under the negligence of an agent which states â€Å"in negligence of an agent, the principal is responsible because of the employment contract with the agent. In other words, if an agent acts negligently while being employed by the principal and is acting within the scope of the employment, the principal is also liable for the negligence of the agent, even though the principal did nothing negligent personally (Cheeseman, 2010, p. 474). † If Celia and Mary only hire men they could be charged with sex discrimination. Sex discrimination is â€Å"discrimination against a person solely because of his or her gender (Cheeseman, 2010, p. 515). † It would not matter how they hired whether they ere Independent contractors or employees. If Celia and Mary require the men when they are not selling, to do inventory and clean up the boutique and they set their working hours they cannot be classified as independent contractors. â€Å"The degree of control that the principal has over the agent is the crucial factor that determines whether someone is an independent contractor or an employee (Cheeseman, 2010, p. 481). † Since Celia and Mary seem to have substantial control over their workers we would classify their relationship as an employer-employee relationship. In this case, they would not be able to pay them only on commission for sales; they would have to add in an hourly rate as well. Again if Celia and Mary hire a person based on their age, race, color, or national origin they are setting themselves up for a discrimination lawsuit. If they decide to only hire men who are qualified under the age of 40, they are committing age discrimination. Age discrimination is the â€Å"federal statute that prohibits age discrimination practices against employees who are 40 and older (Cheeseman, 2010, p. 521). †

Explaining a Technical Concept or Management Issue Essay

Explaining a Technical Concept or Management Issue - Essay Example Some of them note that our target include home owners and business owners, answers that are all too general to define our real target customers. Being an interior design company that has recently been established, it is important that our marketers exactly know who to target during market campaigns and in all marketing activities. Having been in the market for a relatively short duration, the company needs to establish a niche for itself especially if it has to succeed in the competitive household goods market. It is for this reason that I saw the need to prepare this report; to discuss what target marketing is and to recommend how we can apply it in the business. Definition of Target Marketing Target marketing, micro-marketing or niche marketing involves portioning a market into segments and concentrating marketing efforts on a few main segments or just one segment according to Kurtz (6). Target marketing does not mean that the business excludes individuals who do not fit into the e stablished criteria from purchasing the business products. A target market comprises a group of customers that an organization has decided to concentrate its marketing efforts on and therefore its products towards. ... Demographic segmentation on the other hand involves segmenting the market according to age, gender, education, stage in life, income or other demographic features. Psychographic segmentation on its part involves segmenting the market based on individuals’ lifestyles, values, and attitudes. While there are several other factors that can be used in segmenting a market, the aforementioned factors are most commonly considered. Target marketing is different from general marketing in which case the entire market is targeted by a business in its marketing endeavors (Cohen 27). As an example, Hewlett-Packard, the multinational company that makes electronic devices and computers targets its all-in-one (fax, scan, print) machines at segments of the home office market. The company on the other hand targets more expensive single function units at larger organizations. Importance of Target or Niche Marketing Establishing a well-defined target market is key to an organization’s marke ting strategy according to Pinson and Jinnett (52). Better stated, target marketing can be key to an organization’s success. When an organization engages in target marketing, pricing, promotion, distribution of its products becomes easier and more effective in terms of cost. This it does by focusing all the marketing activities that the business engages in. When an organization markets its products or services to a general market hoping to get a bigger slice of the market, it is as good as firing 10 bullets randomly in different directions when hunting game. This is dangerous and extremely expensive. On the other hand, when target marketing is applied, the situation is analogous to aiming a single mark which is cost effective and potentially gainful.

Bartleby the scrivener Essay Example | Topics and Well Written Essays - 1000 words

Bartleby the scrivener - Essay Example Melvilles 1853 story employs food and nourishment as visual imagery to portray the ability to relate to others that we have learned as children from our own nurturing parents. The tale revolves around a sad and out of place scribe that comes to work for the narrator. Bartleby, the scribe, begins with much industry, but soon takes to idleness as he prefers to do less and less as the story progresses. The narrator, who owns the law firm and is Bartlebys employer, is taken aback and frustrated by any attempt to get Bartleby to fulfil his obligations as a scribe. The other three characters in the owners employ are far more critical of Bartlebys preference not to work than the compassionate owner is. The narrator, refusing to cause Bartleby undue legal problems, eventually evacuates his office and leaves the odd scrivener behind. Melville has aptly named two of the office scribes after food. Turkey is an older gentleman given to drink at lunch and becoming excitable and moody in the afternoon. Ginger Nut is the young apprentice who was placed in the owners hire at the age of twelve when his father died. The third scribe, Nippers, was a young man "... whiskered, sallow, and, upon the whole, rather piratical-looking young man ... the victim of two evil powers--ambition and indigestion". Melville describes the temperament of each character through the study of their eating habits or lack of them. Bartleby did not eat except for the occasional ginger-nut cookie delivered by Ginger Nut. Likewise he had no contact with anyone and no relationships outside the office. In the office his interaction with the characters is sparse and passively resistant. He denies himself food just like he foregoes any human contact. Melville does not allow us to know anything about Bartleby, or his past, as he states, "I observed that he never went to dinner". We are told that he may not have any human traits at all as the narrator continues, "... never eats a dinner, properly

Personal statement for master degree in english literature

For master degree in english literature - Personal Statement Example The romantic part of the story impressed me more than the historical situation which formed the backdrop to the novel. Later, I read the translated version of the book in my native language Farsi - once, and again several times over. Such is the power of this wonderful piece of literature. I read several other novels like Rebecca and Heartbeat and enjoyed reading them. I have read short stories of Guy de Maupassant and W. Somerset Maugham. Even as I was reading and appreciating them, I was evolving as a person, at times imagining myself in the roles of the protagonists, and many other times amazed at the closeness of the events/scenes/conflicts/characters in the stories with what I was familiar with in my young life. Literature is so compelling and true to life even as it influences and changes one’s personality and creates new dynamics in societies. The power of words and the art of story tellers cast a magic spell on me. Thus did my love for the subject of literature begin a nd made me to choose my academic path and career option. I wish to build upon my academic progress at the undergraduate course and achieve a higher level of proficiency in English and American literature. This is a natural progression of my chosen path and of a subject that is close to my heart. If I am selected to do this course in the prestigious California State University of Sacramento, I would consider myself blessed as it would enable me to achieve a much cherished ambition of even higher learning and acquiring a doctorate in literature in times to come. Compared to the scare resources and other facilities in my home country, this University of Sacramento has significantly higher reputation for facilities as well as academic ambience and guidance. It is this reputation that prompts me to apply for a seat in the University. Coming to the mundane issue, I have committed myself to the teaching line as a career option. Understandably, teaching and

Equity Research Report on Whitbread plc Essay Example | Topics and Well Written Essays - 2500 words

Equity Research Report on Whitbread plc - Essay Example The ratio analysis highlights the fact that the liquidity position of Compass Group Plc is better than that of Whitbread Plc. However, it is deduced that the profitability condition of Whitbread Plc is better than the former. From the ratio analysis and equity valuation method, it can be concluded that Whitbread Plc is a profitable company for the investors since it has increased its net income over the four years period from 2010-2013. It is recommended that Whitbread Plc should increase its asset base by improve the cash and equivalent by decreasing its operating expense. The increase in asset base will assist the company to become one of the strongest players in the industry. Whitbread Plc  is a  coffee shop,  multinational  hotel and restaurant company, which are headquartered in  Dunstable, United Kingdom (UK). It is regarded as the largest division in  Premier Inn. Premier is known to be the largest hotel brand in UK, which encompasses about 650 hotels comprising over 50,000 rooms (Whitbread Plc., 2011). It is as the leading hospitality company in UK. The company employs around 43,000 individuals who devote their hard work for its success (Whitbread Plc., 2011). They are motivated to provide their best services to customers every day. The number of customers visiting their coffee shop, hotels and restaurants is 22 million every month (Whitbread Plc., 2011). The financial statement of Whitbread Plc highlights transactions that have taken place throughout the year. It not only depicts profit or loss of company, but also gives opinion to investors about condition of the company financials. The framework for financial reporting that is applied during preparation of financial statement is International Financial Reporting Standard (IFRS), which is adopted by the European Union. The report is prepared for management of the company and also for investors. The managers have given their views regarding performance of the

The business enivornment Essay Example | Topics and Well Written Essays - 500 words

The business enivornment - Essay Example The organization engages and employs the resources using strategic approaches to reap some profit. Consequently, this effort build the economy since profit made is spent within the economy. A profit-based organization generates income, utilizes resources, creates employments and develops technology on course of its endeavors (Kew & Stredwick, 2005). Promotion these factors develops the overall economy. On contrast, non-profits ventures have an indirect contribution. These organizations mainly focus in promoting specific aspect in the society. Although these organizations may lobby for a certain idea in the society without an objective gains, their activities may influence benefits to the economy (Campbell & Craig, 2005).These organizations sponsor projects like one targeting poverty eradication, health, equality and security. These models enhances societal wellbeing hence boosting community status develops economy. Mainly, fiscal and monitory forces define the state of economy. Presently, the central bank and governments are presenting tighter forces. This has an impact of improving the future performance of the economy. The practice affects trade in the country hence affecting economy. The procedure will help Countries in minimizing on counteract inflationary forces (Campbell & Craig, 2005). However, espousal of relaxed policies would endorse growth within short periods. Coca Cola is a triumphant firm with a worldwide market. The impact of the Company’s social responsibilities on its customers is apparent. Being a premier supplier of fast drinks, the Company observes the policy of delivering quality and standard products. The Company has maintained professionalism for decades. This ensures customers’ health security since consumers have assurance of accessing safe products (Sims, 2004). The Company avails packaging precautions that enable the customers’ access products while in appropriate form. The practice has substantially enhanced global health.

The Bank of the Elena on Request of Don Research Paper

The Bank of the Elena on Request of Don - Research Paper Example Being one of the popular and important international commercial terms, ‘FOB’ is used very widely in international commercial transactions. ‘FOB’ is one of the F group terms denotes ‘Free on Board’ where the element of freight is undertaken to be paid by the buyer and the risk on the goods is deemed to pass to the buyer at the point where the goods are delivered to the specified carrier. The term FOB was originally developed with an intention to specify the responsibilities and liabilities of the parties under the contract. In the case of Pyrene v, Scindia three different variations of the FOB Contracts have been established. As a consequence in a FOB contract if the buyer fails to advise his nomination of a specific vessel within the time stipulated under the contract can be terminated by the seller. With this repudiation of the contract, the seller reserves the right to sell the goods to any other third party and also to recover any resultant l oss from the buyer. FOB is being used as one of the important commercial terms for the past two centuries and because of the familiarity traders do not wish to use other terms while formulating the sales contracts. However, this has resulted in using the term FOB wrongly as FOB Factory or FOB Plant which is an incorrect usage as stated by the International Chamber of Commerce According to the Chamber the term implies only ‘Free on Board’. Thus under the FOB contract, the seller need only to place the goods on board the ship which is nominated by the buyer. However as specified in Para B7 of Incoterms 2000, the buyer is obligated to give the seller sufficient notice of the vessel he has nominated.

Learned Helpness Essay Example | Topics and Well Written Essays - 750 words

Learned Helpness - Essay Example These may cause employees to feel that success or recognition is unattainable, thereby inhibiting motivation to improve their performance levels2. Thesis Statement: The purpose of this paper is to investigate learned helplessness among employees in organizations, and examine the creation of desirable motivation states through management interventions such as motivation, and empowerment and resilience, to eliminate learned helplessness among employees. Lyn Abramson and her team suggested that objective events in themselves do not produce learned helplessness. How those events are interpreted, particularly how their attributional dimensions are perceived, play an important part. Usually, the situations that produce learned helplessness give rise to only momentary symptoms of depression, unless there already exists a ‘depressive explanatory style’3. Besides generalizing from an unpleasant experience resulting in passive acceptance of situations, another approach to the theory of learned helplessness underscores a reinforcement process as its basis. That is, when particular behaviors lead to desired rewards and outcomes, people are motivated to repeat those behaviors. The motivation to perform those behaviors is lost when the specific behaviors do not help to achieve desired outcomes4. For example, when a manager regularly takes credit for her subordinates’ successes, while blaming them for their failures, the employees may lose their motivation to work harder than is necessary to keep their jobs. Similarly, when an organization enforces the use of outdated and ineffective procedures resulting in failed outcomes, employees may show little urgency or interest in their work5. The significance of organizationally induced learned helplessness is that â€Å"It often remains even when the barriers to success are removed†6. Consequently, when an unfair manager or restrictive policies are removed, employee motivation and

Describe key financial statements, including balance sheets and cash Essay

Describe key financial statements, including balance sheets and cash flow statements - Essay Example The income statement is usually valid for a period that is specific. This may be a month or a year. Nonetheless, income statements are indispensable. This is because they permit the owners of a business to evaluate the business results over a period and to know the outcomes of other businesses for a similar period (Longenecker, Petty, Palich & Hoy, 2012). A cash flow statement illustrates the flow of money out and in a business. The cash flow statement depicts both the accompanying alterations and the current results of operation in the balance sheet. A cash flow statement is helpful in ascertaining the viability of a business that is short-term, most importantly, its capacity to pay costs. Moreover, a cash flow statement highlights the true cash flow paid and received by the business. A cash flow statement highlights the flows of cash from operations, that is, the staff and suppliers’ payments, and money received from clients (Longenecker, Petty, Palich & Hoy, 2012). Also, it shows cash flows from investing activities and financing activities. Cash equivalents are assets that can be willingly converted to money, for example, commercial papers, treasury bills, money market, or marketable securities. Moreover, cash equivalents have an existence that is short-term. Cash equivalents mature within a period of 3 months. A cash equivalent investment should have a change in value that has insignificant risk (Graham, Zweig, & Buffett, 2003). Accounts receivable is cash owed to a business by customers and the balance sheet depicts it as an asset. It deals with the billing of a client for services and goods ordered by the client. In addition, accounts receivable epitomizes cash owed by persons to the business on services or products sales on credit (Graham, Zweig, & Buffett, 2003). An inventory is a list of materials and goods that are stocked by the business. Inventories are mainly materials and goods

The Yellow Wallpaper Analysis Essay Example for Free

The Yellow Wallpaper Analysis Essay In Charlotte Perkins Gilman’s short story, The Yellow Wallpaper, strong themes of captivity and entrapment are in play in regards to how women perceive their specific situations. In the story, the troubled narrator goes through a lot of soul searching, but after a while, the wallpaper itself in the story is given much more meaning by the author. Over time, the actual wallpaper in the story becomes more than just decoration. Over time, it becomes a representation of the way that women are often trapped in their own domestic situation. The wallpaper traps the narrator through its design, which is complicated and takes up a lot of the narrator’s time. She is also trapped because of the wallpaper’s associated meaning to her life, as it brings up the bad memories that she does not want to remember. The third and perhaps most important way that the yellow wallpaper limits the narrator and traps her is through the social connotations that went along with the color at the time. Yellow was not associated with many positive things, and the narrator had knowledge of this. Though the narrator feels more trapped in a figurative sense, the actual wallpaper itself is quite limiting because of its complicated design, as well. In the beginning of the story, the narrator finds herself exploring the wallpaper design, which takes up her time. Though she would like to go through with her normal, day to day activities, she is forced to spend the majority of her time mulling over the complicated nature of the yellow colored wallpaper. Over time, she begins to see things in the wallpaper that she did not see before. Eventually, the narrator sees strong imagery within the wallpaper and it serves as a moving experience. She sees a vision of herself within the wallpaper – a real life picture of a woman struggling to break free from the toil and insanity of her everyday life. Once the narrator realizes what she sees within the wallpaper, she begins to associate that with her life in a way that almost drives her crazy. In the past, the narrator sees the wallpaper as being something of a watchdog that keeps her in her place. Once she starts to break down the wallpaper’s design, this leads her to associate the wallpaper with her struggle in life. Though the wallpaper is made out of paper, it seems more like prison bars to her because it reminds her, each and every day, of what her life has become. She is domesticated and that is what she is expected to be. The narrator has become locked in to what a woman is supposed to be in her society. Yellow is a color that is supposed to represent femininity and everything that is right about women. Instead, it becomes a signal to her about everything that is wrong with the way she is being forced to live her life. Though it would be easy to break through the wallpaper itself, she would never be able to break out of the domesticated life that had taken over her creativity and everything else that she had once hoped to accomplish in life. At some point in the story, the narrator begins to become a little bit crazy over the wallpaper. She begins to break it down in ways that it was never intended to be broken down. One of those ways is through analyzing the actual color itself. Yellow, as mentioned before, was a color that was supposed to represent goodness. Instead of seeing it as that, she begins to realize all of the negative connotations that go along with the color yellow. She associates it with many unpleasant medical conditions, including jaundice. More importantly than that, the narrator sees the color as a representation of the sun, which was both powerful and controlling. It was the dominant force of the universe and something that, like the wallpaper and her life, she could not get away from. The other social connotation that goes along with yellow is the idea of oppression of minorities. Chinese people in particular were associated with this color and that sort of racism was another negative aspect of the color. In order to truly assume a position of self worth, the narrator had to break through all of these things, including the color barrier associated with the wallpaper. In the short story, wallpaper, which was meant to be positive, works as a restricting force in trapping one woman in her own life. It should be a symbol of the perfect domestic life, but it instead acts as prison bars for women who feel that they cannot truly be themselves because of the limiting nature of the wallpaper. The many different negative things about the wallpaper all combine together to create something that was powerful enough to nearly drive one woman crazy. In the story, if a woman was to break free from the oppression of her domestic situation, she had to break through both the symbolic barriers and the actual wallpaper that was limiting her life.

The Photoelectric Effect

The Photoelectric Effect Assessment Task Topic: The Photoelectric Effect 1. Introduction The photoelectric effect is the name given to the phenomenon whereby electrons are emitted from a metal when exposed to electromagnetic radiation of the appropriate frequency. It was first discovered by Heinrich Hertz in 1887, but remained a conundrum to many scientists who sought to explain it, as it clearly contradicted the accepted principles of classical physics such as James Clerk Maxwells Theory of Electromagnetic Waves. This phenomenon, unable to be explained by the wave model of light, was finally explained by Albert Einstein in 1905 with the inception of his Quantum Theory, a concept that would completely revolutionise scientific thought. The photoelectric effect has played and continues to play an important role in mankinds scientific development. 2. Discovery of the Photoelectric Effect: Hertz The original observation of the photoelectric effect can be traced back to the German scientist Heinrich Hertz. In 1887, in an attempt to generate and detect electromagnetic radiation, Hertz created a rapidly-oscillating electric field with a high voltage induction coil to cause a spark discharge between two spherical brass electrodes. He observed that when a small length of copper wire with brass spheres attached on either end was bent into a loop, leaving a small gap between the spheres, and held near the sparking induction coil, a spark would jump across the gap at the same time when the brass electrodes in the induction loop sparked. This induced spark occurred despite the copper loop not being connected to any electrical current source. Thus Hertz came to the conclusion that the copper loop was a detector of the electromagnetic waves propagated by the transmitting loop. This successful experiment was followed up by a series of others, through which Hertz demonstrated that these electromagnetic waves could be reflected from a metal mirror, and refracted as they passed through a prism made from pitch, thus proving that these waves behaved similarly to light waves. He also proved these waves were polarised. Through the course of his investigations, he discovered a mysterious phenomenon: I occasionally enclosed the spark B[the detector spark]in a dark case so as to more easily make the observations; and in so doing I observed that the maximum spark-length became decidedly smaller in the case than it was before. On removing in succession the various parts of the case, it was seen that the only portion of it which exercised this prejudicial effect was that which screened the spark B from the spark A[the transmitter spark]. The partition on that side exhibited this effect, not only when it was in the immediate neighbourhood of the spark B, but also when it was interposed at greater distances from B between A and B. A phenomenon so remarkable called for closer investigation. Upon shielding the detecting loop with glass, the intensity of the spark produced was reduced. However, when a quartz shield (a substance that allows UV rays to pass) was applied, there was no drop in the spark intensity. He then used a quartz prism to separate the light from the transmitter spark into its various components, discovering that the wavelength which made the detector spark more powerful was in the ultraviolet range. Unable to explain this phenomenon, Hertz concluded his series of investigations in 1887, declaring that: †¦ I confine myself at present to communicating the results obtained, without attempting any theory respecting the manner in which the observed phenomena are brought about. 3. Further Investigations: Hallwachs, Thomson, von Lenard After learning of Hertzs experiments, another German scientist, Wilhelm Hallwachs, devised a much simpler investigation to demonstrate the photoelectric effect. In his own words: In a recent publication Hertz has described investigations on the dependence of the maximum length of an induction spark on the radiation received by it from another induction spark. He proved that the phenomenon observed is an action of the ultraviolet light. No further light on the nature of the phenomenon could be obtained, because of the complicated conditions of the research in which it appeared. I have endeavored to obtain related phenomena which would occur under simpler conditions, in order to make the explanation of the phenomena easier. Success was obtained by investigating the action of the electric light on electrically charged bodies. By placing a zinc plate atop an insulating stand and wiring it to a negatively-charged gold leaf electroscope, he observed a slow loss of charge from the electroscope. However, when he exposed the zinc plate to ultraviolet light from an arc lamp or from burning magnesium, the discharge occurred much quicker. Conversely, a positively-charged electroscope resulted in no fast leakage of charge. In 1899, British scientist J.J. Thomson finally identified that the light caused the metal surface to emit electrons. He enclosed the metal in an evacuated tube before exposing it to radiation, showing the electrons to be the same particles emitted in cathode ray tubes. Three years later, German physicist Philipp von Lenard, who had worked with Hertz earlier in Bonn, conducted a series of experiments in which he used a bright carbon arc light to examine how the energy of the emitted electrons varied with the lights intensity (see Figure 2). By using a vacuum tube, he showed that when electrons emitted by the metal plate upon exposure to light hit another plate, the collector, a small measurable current was produced. By charging the collector negatively so as to repel the electrons, von Lenard discovered that a minimum voltage existed, Vstop, so that only electrons with a certain energy threshold could reach the collector and thus generate a current. He found that while increasing light intensity caused more electrons to be emitted (as can be gathered from an observed increase in current), it did not affect the amount of energy carried by each electron, as the stopping voltage was constant. On the other hand, increasing the frequency of the light led to an augmentation in the electrons kinetic energy, thus finding that for a particular frequency of light, the kinetic energy of the electrons remained constant. Von Lenard also showed that if the frequency was lowered beyond a certain threshold, no current was produced, regardless of the intensity of the light. However, like the scientists preceding him, he was unable to account for these phenomena. 4. Inadequacy of Classical Physics Explanations The phenomenon observed during the photoelectric effect was in contradiction to classical theory explanations such as Maxwells Theory of Electromagnetic Waves which was then commonly accepted by scientists. According to such rules of classical physics, for an electron to gain enough energy to be liberated from the metal, the metal surface would have to be exposed to the light waves for a period of time. However, as observed in experiments of the photoelectric effect, the electrons were freed instantly. The Wave Theory maintains that increasing the intensity of a beam of light also increases the amplitude of the oscillating electric field vector E, thus the amount of electrons emitted should be proportional to the intensity of the light. However, according to the observations made, the current flow was independent of light intensity, yet varied according to the frequency of the light, and was non-existent when the frequency decreased beyond a certain level, regardless of the intensity. Von Lenards experiment confirmed the existence of a threshold frequency in the photoelectric effect, another phenomenon unable to be explained with a classical physics approach. Thus the belief in light being completely wavelike in nature was incompatible with the experimental observations of the photoelectric effect. 5. Black Body Radiation and Plancks Hypothesis A black body cavity can be defined as a perfect cavity that absorbs all radiation that falls onto it and then perfectly radiates all energy absorbed until it is at equilibrium with its surroundings. The intensity of various wavelengths emitted by the black body changes according to its temperature, forming black body radiation curves (see diagram on right). Experimental data showed that the intensity of radiation emitted increased with decreasing wavelength, until a definite peak is reached, after which lower wavelengths of radiation are emitted at lower intensities. Yet, according to the classical wave theory of light, as the wavelength of the radiation emitted shortened, the intensity should increase, thus as the wavelength tends to zero, intensity would approach infinity. However, this would be a gross violation of the principle of conservation of energy. Hence it remained an inexplicable conundrum for scientists for a long time, who gave this effect the name ultraviolet catastrophe. In 1900, German scientist Max Planck came up with a revolutionary explanation for this phenomenon. He made the assumption that the radiant energy may be treated statistically not as continuous waves but rather as discrete packets of energy, each of which he called a quantum. Based on this radical assumption of light as particles, he formulated a mathematical equation by which this phenomenon could be exemplified. He proposed this relation that calculated the energy of a quantum for radiation of a certain frequency: E= hf,Ebeing the energy in joules, fthe frequency in Hertz, and ha small constant (6.626 x 10-34Js) now known as Plancks constant. Figure 4 is a graph of experimental results that confirms Plancks equation, with the gradient corresponding to h. He proposed that any quanta of a particular frequency (and thus wavelength) would carry the same amount of energy. However, he did not attribute any physical significance to this postulation, merely perceiving it as a mathematical t rick by which the corresponding answer could be obtained. 6. Quantum Theory: Einsteins Explanation Due to the inadequacies of classical physics in explaining the photoelectric effect, in 1905 Albert Einstein further developed upon Plancks hypothesis to come up with a new ground-breaking theory to explain the photoelectric effect. He proposed that light was made up not of continuous waves but rather of discrete bundles of energy which he termed photons. He wrote in the renowned journal Annalen der Physik: It seems to me that the observations on black-body radiation, photoluminescence, the production of cathode rays by ultraviolet light and other phenomena involving the emission or conversion of light can be better understood on the assumption that the energy of light is distributed discontinuously in space. According to the assumption considered here, when a light ray starting from a point is propagated, the energy is not continuously distributed over an ever increasing volume, but it consists of a finite number of energy quanta, localised in space, which move without being divided and which can be absorbed or emitted only as a whole. Einstein used Plancks equation that each photon had an energy E=hf, and proposed that light intensity was proportional to the number of photons. The higher the frequency of the electromagnetic radiation, the greater the energy carried by its photons. Einstein provided a comprehensive explanation for the photoelectric effect. When an electron is liberated from the metal surface, the energy in the light photons must be great enough to overcome the forces that bind the electrons to the surface. This minimum energy required to liberate an electron from a metal surface is known as the work function, represented by the symbol  ¢, and is dependent solely on the material of the metal. The corresponding minimum frequency required for the photons to contain the required energy is called the threshold frequency (f0). If the energy of the photon is greater than the work function of the metal (i.e. E> hf0), than the difference in their energy levels will provide the kinetic energy for the photoelectrons (electrons released from interaction with a photon), allowing them to travel and thus generate an electric current. Einsteins quantum theory explains the existence of a threshold frequency for the light below which no electrons would be emitted from the metal, an experimental observation that had puzzled scientists up to that time. Einstein established that when different metal surfaces are illuminated with monochromatic light, photoelectrons are emitted by the metal surface. The magnitude of the forces by which electrons are held varies with different metals. Thus the work functions of each different metal are also varied. Below is a table of the work functions of various metals. Figure 6:Work Functions for Various Metals Source: Nave, CR. HyperPhysics: Photoelectric Effect According to Einsteins theory a single photon collides with an electron in the metal, transferring all its energy to the electron, thus liberating the (photoelectron from the metal surface. This concept successfully explained the instantaneity of the electron emission upon light exposure, another phenomenon that classical wave theory was unable to account for. In Einsteins own words, According to the idea that the incident light consists of energy quanta†¦ one can picture the production of cathode rays by light as follows. Energy quanta penetrate into a surface layer of the body, and their energy is at least partly transformed into electron kinetic energy. The simplest picture is that a light quantum transfers all of its energy to a single electron; we shall assume that that happens. We must, however, not exclude the possibility that electrons only receive part of the energy from light quanta. An electron obtaining kinetic energy inside the body will have lost part of its kinetic energy when it has reached the surface. Moreover, we must assume that each electron on leaving the body must produce work P, which is characteristic for the body. Electrons which are excited at the surface and at right angles to it will leave the body with the greatest normal velocity. Einstein formulated an equation, known as Einsteins Photoelectric Equation, to provide a quantitative explanation for the photoelectric effect: E= hf=  ¢+ Ek with Ebeing the energy of the photon (thus E= hffrom Plancks hypothesis), ¢the work function of the particular metal ( ¢= hf0), and Ekthe photoelectrons kinetic energy (in Joules or electron volts). Einsteins theory also explains the stopping voltage in the photoelectric effect, which von Lenard had discovered earlier. This voltage is a good measure of the kinetic energy of the photoelectrons. It can be demonstrated (see figure 7) by introducing a variable electric potential difference to make the anode negative, thus generating a repelling force against the photoelectrons emitted from the cathode. As this opposing voltage is increased, it will arrive at a point where there is no current flowing in the external circuit as the photoelectrons kinetic energy is not enough to overcome the voltage. This stopping potential equals the maximum kinetic energy of the electrons at the cathode, as it is just enough to stop any electron from reaching the anode. Thus EK max= -qV0, where EK maxis the maximum kinetic energy of the electron in joules, V0the magnitude of the stopping potential in volts, and q the charge of the electron (-1.60 x 10-19C). As the unit of the joule is too large to be used effectively for atomic systems, the electron volt (eV) is employed instead, with 1 eV = 1.60 x 10-19J. Thus the maximum kinetic energy of a photoelectron can be experimentally obtained from the stopping voltage. Radiation with higher frequencies will result in higher stopping voltages, and vice versa. With his theory of the quantisation of light, Einstein was able to derive Plancks formula and account directly for such hitherto inexplicable phenomena as the photoelectric effect and black-body radiation. His work overturned the previously accepted, but now proven flawed, wave theory of light, heralding a new era with the concept of wave-particle duality, in which light can be seen both as waves and as particles (quanta). It was for his services to Theoretical Physics, and especially for his discovery of the law of the photoelectric effect that Einstein was awarded the Nobel Prize for Physics in 1921. Another notable scientist, the American Robert Millikan, expressed grave doubts about Einsteins quantum theory and set out to experimentally prove him wrong. However, after a decade of thorough scientific investigations, Millikans results confirmed Einsteins theory in every aspect. He was even able to measure Plancks constant to within 0.5% accuracy. These travails earned Millikan the Nobel Prize in 1923 and further validated Einsteins quantum theory in explaining the photoelectric effect. 7. Practical Applications of the Photoelectric Effect The principle of the photoelectric effect is utilised in many domains. One significant application of the photoelectric effect is the solar cell. This is a device that converts electromagnetic radiation from sunlight into electrical energy. It is generally made up of a series of metallic plates facing the sun, emitting photoelectrons when struck by sunlight. These electrons then flow through an external circuit, thus generating electrical power. Another practical application is the photomultiplier tube (PMT). When light is shone onto a photosensitive cathode, electrons are emitted, and subsequently accelerated towards a second cathode. This produces more electrons, and is repeated for a number of cathodes, resulting in the multiplication of the number of electrons initially emitted by a factor of a million, to be detected as a current pulse at the final electrode. Thus PMTs are extremely sensitive light detectors, used in scientific applications that require high levels of accuracy, such as emission spectroscopy experiments. Phototubes also operate on the principle of the photoelectric effect. The electrical characteristics of these devices are dependent on the light that they are exposed to. Thus the current produced from a phototube may be used to operate sensor-based appliances such as automatic doors, sensor taps, alarm systems and light-activated counters. 8. Conclusion The photoelectric effect has undeniably played a significant role in the development of modern physics ever since its discovery. It has revolutionised mankinds understanding of the nature of light, its wave-particle duality. It was in the pursuit of an explanation for this phenomenon that Einstein made what was an important great leap forward in the world of science 3/4his conception of quantum theory. In fact the photoelectric effect and the problem of the ultraviolet catastrophe in black-body radiation formed the two experimental foundations upon which quantum theory was built. Thus the experiments conducted on the photoelectric effect can be considered among the most significant in the history of physics. Three distinguished physicists received the Nobel Prize in part for their work on the photoelectric effect: Max Planck in 1918, Albert Einstein in 1921 and Robert Millikan in 1923. The observations of the photoelectric effect and its subsequent explanations by Einstein can be regarded as directly responsible for the birth of modern physics. Appendix:A Timeline of the Photoelectric Effect Bibliography Andriessen, M et al. Physics 2: HSC Course2nded. Sydney: John Wiley Sons Australia; 2003. Burns, RW. Communications: An International History of the Formative Years. London: Institution of Electrical Engineers; 2003. Cassidy, D. [Internet]. Einstein on the Photoelectric Effect.[cited 2ndJuly 2008]. Available from http://www.aip.org/history/einstein/essay-photoelectric.htm Fowler, M. [Internet]. The Photoelectric Effect.1997. [cited 2ndJuly 2008]. Available from http://galileo.phys.virginia.edu/classes/252/photoelectric_effect.html Institute of Physics.[Internet].Did you know†¦ Photoelectric Effect.2007. [cited 2ndJuly 2008]. Available from http://www.einsteinyear.org/facts/photoelectric_effect/ Lukefahr, H Hannah J. [Internet]. Photo Electric Effect.[cited 2ndJuly 2008]. Available from http://www.eequalsmcsquared.auckland.ac.nz/sites/emc2/tl/pee/overview.cfm McGraw-Hill Higher Education. [Internet]. Millikan Oil Drop.2005. [cited 3rdJuly 2008]. Available from http://highered.mcgraw-hill.com/olcweb/cgi/pluginpop.cgi?it=swf::100%::100%::/sites/dl/free/ 0072512644/117354/02_Millikan_Oil_Drop.swf::Milikan%20Oil%20Drop MIT OpenCourseWare. [Internet]. The Demise of Classical Physics.[cited 4thJuly 2008]. Available from http://ocw.mit.edu/NR/rdonlyres/Chemistry/5-61Fall-2004/EBB0651F-6B5D-4333-83CE-8FB1E0863860/0/5_61_l03_f04.pdf Nave, CR. [Internet]. Blackbody Radiation.[cited 4thJuly 2008]. Available from http://hyperphysics.phy-astr.gsu.edu/hbase/mod6.html Nave, CR. [Internet]. Wave-Particle Duality and Photoelectric Effect.[cited 2ndJuly 2008]. Available from http://hyperphysics.phy-astr.gsu.edu/hbase/mod1.html Ng, A. HSC Study Package 2007: Physics.Sydney; 2008. Schombert, J. [Internet]. Photoelectric Effect.[cited 2ndJuly 2008]. Available from http://abyss.uoregon.edu/~js/glossary/photoelectric_effect.html Ter Haar, D. The Old Quantum Theory. Oxford: Pergamon Press; 1967. [Online version cited 4thJuly 2008]. Available from http://lorentz.phl.jhu.edu/AnnusMirabilis/AeReserveArticles/eins_lq.pdf Trapp, D. [Internet]. Electrons from Bright Light: the Photoelectric Effect.. [modified 19thJan 2007; cited 3rdJuly 2008]. Available from http://homepage.mac.com/dtrapp/ePhysics.f/labV_7.html University of Winnipeg. [Internet]. The Photoelectric Effect.[modified 10thSeptember 1997; cited 2ndJuly 2008]. Available from http://theory.uwinnipeg.ca/physics/quant/node3.html Vallance, C. [Internet]. The Photoelectric Effect.[cited 3rdJuly 2008]. Available from http://physchem.ox.ac.uk/~vallance/pdfs/PhotoelectricEffect.pdf Yuly, ME. [Internet]. Photoelectric Effect. [cited 8thJuly 2008]. Available from http://campus.houghton.edu/webs/employees/myuly/Courses/phys275/Labs/photoelectric.pdf

Devaluation and Economic Recovery During the 1930s.

Devaluation and Economic Recovery During the 1930s. a) Evaluate the evidence of the relationship between devaluation and economic recovery during the 1930s. b) Evaluate the mechanisms by which devaluation had an impact on economic recovery during the 1930s. Although a wide range of uncoordinated policies were implemented in the 1930s, including devaluation, it is possible to classify the major trading nations into different trade policy regimes (Kitson and Solomou, 1990): the sterling bloc that devalued with or soon after Britain and linked their currencies to sterling; other countries which also devalued either early (before 1932) or later (1932 and after); the exchange control group, that was reluctant to devalue for fear of inflation; and the gold bloc countries which remained, at least in the short term, committed to the system. During the 1929-32 depression, world output declined by more than 6% per annum. The sterling bloc exhibited the mildest contraction, with GDP falling by an annual rate of less than 2% per annum, and just 0.5% if Canada is excluded from the sample (Canada was particularly adversely affected by its large agricultural sector and its links with the United States). This suggests that devaluation policies may have helped to mitigate the adverse effects of the depression. Leaving gold provided less help for the other devaluers group although there is evidence that those who devalued early experienced a milder depression than those who delayed and devalued late. Thus, the timing of the policy response was important. The positive relationship between devaluation and the economic recovery in the 1930s is depicted in specific countries and some groups of countries. Eichengreen and Sachs (1985), claim that devaluation benefitted initiating countries, and Bernanke and James (1991) demonstrate a strong link between deflation, depression and adherence to gold in their analysis of 24 countries. Shibamoto and Shizume (2014) find that exchange rate shocks independently had strong influences on the real economy in Japan. Their historical decomposition demonstrates that the exchange rate contributed to production growth after Japan left Gold in December 1931. However, a limitation is that their results may contain measurement error because their effective exchange rate is constructed using 1917 weights. On the other hand, Reinhart and Reinhart (2009) argue against the hypothesis of a positive relationship between devaluation and the economic recovery in the 1930s. They find that their timing variable is insignificant and the date of exit from gold does not help to explain the depth or duration of the downturn when examining 37 countries. However, a limitation is that their results posits having a large number of countries does not necessarily improve the reliability of results. Other literature argues that national heterogeneity played an imperative role in determining the relationship between devaluation and recovery. Later when Reinhart and Reinhart repeated Eichengreens 14 country 1929-37 analysis but using real GDP per capita rather than Industrial production as a proxy for growth, they found significant results supporting a positive relationship between devaluation and the economic recovery during the 1930s. It can be affirmed that devaluation was a beggar-thy-neighbour policy, in which one country attempts to remedy its economic problems by means that tend to worsen the economic problems of other countries, and thus explains why we see the relationship between devaluation and recovery vary for different groups of countries. For the period of recovery, from 1932-37, most countries exhibited reasonable cyclical growth. The exception was the gold bloc countries. Constrained by their commitment to their exchange rate parities they had to adopt tight monetary and fiscal policies to maintain internal and external balance. Thus although output was depressed, the French government in the early 1930s adopted contractionary fiscal policies to prevent destabilising exchange rate speculation. Reinhart and Reinhart (2009) states that the benefits of competitive devaluation went to the first movers and for those that devalued later it merely allowed for catch-up for lost competitiveness. It can be seen that US monetary policy was hampered by beggar-thy-neighbour problems as almost all devaluations relative to gold produced an appreciation relative to the dollar. A simple comparison of growth performance during recovery can be misleading, as it will include both a cyclical component (the automatic recovery from a deep depression) and policy induced effects. An alternative is to examine inter-period, peak to peak growth performance. Looking at the change in the annual rate of growth of GDP during 1929-37 relative to 1924-29, the results for the world economy indicate a retardation of the growth path. This is consistent with other findings that the shock of the Great Depression had persistent effects on the level of output. The performance of the different policy regimes, however, provides important contrasts. The countries that devalued, particularly those that devalued early, experienced only a small (or zero) fall in trend growth. Those countries that had the limited benefits of exchange controls experienced a deterioration in annual growth of 3.3%. The poorest performing group was the gold bloc, which had little flexibility to initiate poli cies for domestic recovery. Further evidence of the striking contrasts in performance of different policy regimes is shown in figures for annual growth of industrial production. These indicate that those countries which devalued, and to a lesser extent those that introduced exchange controls, had a milder industrial depression, faster recovery and a better inter-period growth performance. Evidence on the unemployment performance of the different policy regimes shows that the high unemployment that developed during the depression persisted throughout the period of recovery. Only for the sterling bloc was there any fall in the unemployment rate; for the other regimes unemployment increased during 1933-37. In part this reflects employment lagging output, plus changing activity rates and demographic shifts. But it is also evidence of the persistent effects of the Great Depression, the long-term unemployed having difficulty re-entering the labour market. As always, there are some authors (Beenstock et al, 1984) who argue that it was wage movements that accounted for the cyclical fluctuations in output, both for the Great Depression and subsequent recovery. It is true that real wages (adjusted for price changes) did move counter-cyclically over the 1929-37 cycle in Britain rising relative to trend during the recovery but the causes of the output fluctuations lay elsewhere, and the timing of the wage fluctuations do not actually fit the claim that recession was caused by wage rises and recovery caused by wage cuts. We have shown elsewhere (Michie, 1987) that this wage-output correlation itself does not, in any case, hold outside those particular years a finding which reinforces the argument that the output and wage series are independently generated, with output influenced crucially by the level of demand for output and wages by factors such as productivity levels and bargaining strength. Growth and improved economic performance during the 1930s was dependent on countries untying themselves from strictures of the gold standard and adopting independent policies, with different exchange rate regimes created and with some countries also reaping the advantages of increased protectionism and fiscal expansion. What is apparent, however, is that the cooperative regime failed and uncoordinated policies were a vast improvement. Almunia et al (2010) finds large defence spending multipliers of 2.5 on impact and 1.2 after the initial year. These demonstrate the large potential impact fiscal spending could have on the economy. Moreover, in Japan real gross national expenditure rose by 45% 1931-36 alongside which the economy approached full employment. However, Almunias findings have limitations as multipliers reduce to 0.43 on impact and 0.13 when total government spending is used instead of defence spending. The absolute size of fiscal expenditure in countries was actually relati vely small and thus despite potentially large multipliers, was unable to drive the economic recovery in the 1930s. The use of uncoordinated policies may have led to some resource misallocation effects. The overriding impact, however, was positive as independent policies overcame the deflationary bias of the gold standard and led to increased resource mobilisation. Despite these economic gains some commentators persist in identifying the 1930s as a period of economic nationalism which helped to usher in totalitarian and fiscal political regimes. This is a complete misreading of history. The rise of racism and fascism in the 1920s and 1930s was fuelled by mass unemployment and the destructive economic policies imposed on Germany at Versailles and on the rest of the world by the gold standard. Keynes had warned as much in The Economic Consequences of the Peace (1919) and The Economic Consequences of Mr Churchill (1925), but to no avail. Currency stability was of greatest importance. Devaluation can have beneficial impacts through a number of mechanisms. First, it can directly alleviate the balance of payments constraint on growth. Shifts in relative prices and improved competitiveness can raise exports and depress imports. The conventional account of this process is that it is a beggar-my-neighbour policy (Healey and Levine, 1992), as the improvement in trade performance is reflected in an improving trade balance for the initiating country and a deteriorating trade balance for trading partners. This account, however, ignores the effects of an independently pursued trade policy on the level of economic activity. Increasing exports and reducing the propensity to import will raise the level of demand in the domestic economy. With unemployment and excess capacity, such a policy initiative will raise output and employment as well as leading to an income-induced increase in imports, so that there need be no change in the actual trade balance. Indeed, this is precisely the reason why, although Britain devalued and adopted widespread protectionism in 1931, the current account deficits persisted throughout the 1930s. If countries get locked into a pattern of trade which constrains domestic expansion, an active and independent trade policy provides one means of overcoming the problem without necessarily affecting adversely other trading partners. Empirical support for this mechanism is found in Eichengreen and Sachs (1985) where they found that countries who devalued were successful in raising their Tobins Q. However, there is a limitation, Tobins Q represents the incentive to invest as opposed to actual investment, hence this does not actually tell us if investment had a real effect on the economic recovery. Nevertheless, increased investment demand which resulted from devaluation is likely to have had significant effects on economic recovery. The second benefit of devaluation is that it removes the exchange rate constraint on domestic policy, encouraging expansionist policies. In particular, monetary policy can be relaxed and therefore interest rates can be determined by domestic economic conditions rather than by the need to maintain the exchange rate or by the need to prevent excessive loss of reserves. For instance, Britains suspension of the gold standard allowed the government to pursue a more expansionist policy after 1932. This cheap money policy has been identified as a permissive policy for economic revival, especially important in stimulating a housing boom. Conversely, the reason that the British Governments claims on September 16, 1992 (that it would remain in the ERM by raising interest rates as far as was necessary) lacked credibility was that raising interest rates by 5% in one day in the midst of the longest economic recession for 60 years was not believed to be a feasible policy option. Eichengreen and Sa chs (1985) explore a more general model and depict that devaluation might give rise to interest rate differentials among countries, creating not only the expenditure-increasing effect but also an expenditure-switching effect. Due to data limitations in the 1930s it is hard to draw strong inferences regarding the impact of devaluation on interest rates. Eichengreen and Sachs (1985) do however find a positive relationship between exchange rates of countries and changes in the CB discount rate. Support for this is provided by Almunia (2010) who finds that countries abandoning Gold were quicker to cut interest rates in response to the slump. However, Eichengreen and Sachs (1985) find that the CB discount rate does not reflect market conditions. Therefore, devaluation is likely to have reduced interest rates in devaluing countries boosting investment and spending. The positive effect of devaluation on export growth is likely to have given a positive short term gain effect to economic recovery. Bernanke and James (1991) find large and statistically significant results on output growth for real export growth. Shibamoto et al (2014) argue that anticipated devaluation generated expansionary expectational effects in Japan. However, their use of railway traffic is a very poor proxy for GDP and thus their results are unreliable given that they are generated from poor quality data. Instead, we support the thesis that expectational effects were seen with a lag of 1 to 2 year as it took time for people to learn the effects of devaluation. Hence, in the US we can explain the lack of a lag in expectational effects as US agents had learnt from the European experience of devaluation. Thus, there is support for an expectational mechanism through which devaluation impacted on economic recovery but with a 1 to 2 year lag. Devaluation and the accompanying intro duction of other expansionist policies also led to a third, less mechanistic, benefit. Under the prevailing world conditions of uncertainty and monetary and financial turbulence, the reorientation of policy towards the domestic economy improved business confidence. The prospect of a stable and growing economy encourages home producers to increase, or at least bring forward, investment and expand production.

Passion in Peter Shaffers Equus Essay -- Peter Shaffer, Equus

In Peter Shaffer's Equus, A psychiatrist, Martin Dysart, is conducting an investigation on Alan Strang. He is learning, through his investigation of Alan's horrific crime, about what it really means to make someone "normal" and what a psychiatrist really does. It is the job of Dysart to find the motive of Alan's actions, but he is not prepared for what he learns. After meeting Alan, Dysart has a dream. This dream is of a ritual sacrifice in Greece. Dysart's passion lies in Greece. He has always wanted to believe in something greater than himself. He wants to be connected to a greater power and meaning. As he tells Hester on page 82, "The finicky, critical husband looking through is art books on mythical Greece. What worship has he ever known? Real worship! Without worship you shrink, it's as simple as that I shrank my own life." He is criticizing himself on not trying to achieve that dream of passion he has always had. In this dream he plays the high chief in the ritual. He is the most important person in the ritual, signifying a psychiatrist. Slicing open children and ripping out their intestines. This signifies taking out what makes a person unique. This dream personifies what psychiatry is, its fitting everyone into one mold, taking out their originality and destroying their passion. The next day he starts his investigation of Alan. Trying to piece together his life to find out how he got to the breaking point. He learns of the religion that Alan created around Equus. His mother had brought him up to be very religious by reading to him from the bible and Alan drew a connection between horses the Jesus. That was the foundation for his religion. The picture of a horse had even replaced a picture of J... ...ther's stories. The Chinkle Chankle in the horses' mouth was a reaction to the memory of Trojan on the beach. All these things that Alan could comprehend made sense in Equus. Dysart admits this on page 81 "I only know that it's the core of his life. What else has he got? Many men have less vital with their wives" Equus is the core of Alan's life, and Dysart knows that. Equus is that heart of Alan's body. If the heart is removed the body cannot continue to live. Dysart was wrong to remove Equus from Alan. He was wrong to kill the passions that he envied so much. All this for what? Normalcy. Dysart did not heal Alan he ravaged him. In a world devoid of passion, it is the most important thing one can have. Every day people go about their ways passionless and now Alan joins them. Work Cited Shaffer, Peter. Equus. 1973. New York: Penguin Books, 1977.

Electrolysis :: Papers

Electrolysis How is the amount of copper deposited affected by the voltage? Aim The aim of this experiment is to find out what effect the change in voltage has upon the amount of copper deposited in 5 minutes. The voltages I will be using are 2, 4, 6, 8, 10 and 12volts; I will use these voltages because they are the only ones available on the power pack. I am doing the experiment for 5 minutes because it is enough time to get a result and it is short enough for doing 6 voltages in one lesson. I will repeat this on another lesson to gain 2 sets of results. Prediction I predict that 12v will produce the most copper because there is more energy being transferred into the copper ions making the move quicker. Fair testing To make this experiment fair I will; use the same amount of copper chloride (30ml) for each test, use the same graphite rods and sand them down to the same weight each time, do the experiment for the same length of time (5 mins). Apparatus * Power pack * 50ml beaker * 2 wires (with crocodile clips) * 2 graphite rods * Plastic rod holder * Sand paper * Copper chloride * Stop watch * Filter paper (to filter and deposited copper in the solution) * Funnel (to hold filter paper) * Weighing scales (electronic for more accuracy) [IMAGE] Method First I will plug in the power pack and the scales, pour 30ml of copper chloride into a beaker, sand a graphite rod, weigh it, record its weight and clip the negative wire to it (this rod is going to collect the copper because it is negative and the positive ions of the copper will be attracted to it), the other rod will have the positive

Analysis of Political, Economic, Legal and Technological Risks in Indonesia

Analysis of Political, Economic, Legal and Technological Risks in Indonesia By Yohanes Randy Anggoro Student ID: 1004536 Instructor: Mr. Bala Subramaniam N. Module Name: International Trade and Management Module Code: ERCBA-209 Word Counts: 2106 Due Date: 7 November 2012 Content Page Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 Brief Introduction to Indonesia†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Political Risk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 Economic Risk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Legal Risk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Technological Risk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 Reference List†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 8 Introduction Doing or expanding business in Asia nowadays has become a popular trend from companies around the world, many big firms based on Europe and United States of America recently has opened a branch in Asia in order to reach the Asia Market.The main attraction of Asia is the number of population, with approximately 4 million people spread around 5 regions, consist of Northern Asia, Western Asia, South Central Asia, South East Asia, and East Asia (OneWorldNationsOnline, 2012), it is apparent that Asia has become a large growing market that attracts companies around the world. Moreover, other than the large growing market potential it offers, there are other benefits that a firm can get by expanding business in Asia.First of all the labor cost in some less developed Asia Countries, such as Indonesia, Vietnam, Thailand, is relatively lower than labor cost in Western Countries, for example, England and United States of America. Secondly, the land cost in Asia, Indonesia in particular is relatively much cheaper than in Western countries. However, despite the benefits that have been mentioned above, there are some risks that need to be known by a firm before deciding to expand business to Asia, Indonesia in particular.The risks itself can be divided by four which are, political risk, economic risk, legal risk, and technological risk. Below, there is an explanation and examination about four of the risks that may arise while expanding business in Indonesia. Brief Introduction to Indonesia Indonesia is a country in South East Asia which consists of approximately 17. 508 islands. The official name of Indonesia is Rep ublic of Indonesia. There are 5 main islands in Indonesia which are Sumatra, Java, Kalimantan or Borneo, Sulawesi and Papua.Geographically, Indonesia is placed between Pacific Ocean and Indian Ocean as well. Jakarta is the capital city of Indonesia and is placed in Java Island. The Legal Currency in Indonesia is Indonesia Rupiah. In term of people, Indonesia has approximately 240 million of people with various ethnicities and is the fourth most populated country in the world. The current president of Indonesia is Susilo Bambang Yudhoyono. Political Risk According to Deresky (2008) Political Risk is government actions or politically motivated events that can affect a firm in the long terms.Furthermore, Kobrin (1979) states that political risk covers possibility of unwanted consequences created by governmental activity that affect international business. Nationalization, Expropriation and Confiscation, Terrorism, and Macro political and Micro political risk are the example of commonly known political risk events. Nationalization is a governmental action to take over a private asset to be owned and operated by the government. Next is Expropriation, Expropriation is a term to define a process of taking away a private property for a public use.The difference between Expropriation and Nationalization may seem a bit vague, but the intentions for both terms are different. Nationalization is a process to take over a private asset by a government in order to make profits. For example is the nationalization of Netherland Enterprises by Indonesia Government after the independence war. On the contrary, Expropriation only takes private property to be used for public, for example, a government takes over a land of a private house to be used for highway because the public needs a highway to support the transportation around that area.The third is Terrorism, Terrorism as defined by Ruby (2002) and Title 22 of US Code is politically motivated action committed in a violent manne r against common people. And the last is Macro political and Micro political risk, Macro political risk is any governmental action that affects all the multinational companies within the country while micro political risk is the governmental actions which only affects some of multinational companies.Moreover, it is important for a firm to know and manage prevention of any political risk that they may encounter while expanding their business, without doing that matters a company may end up having no profits or even loss their assets while going global. In Indonesia, particular political risk events that a firm likely to encounter when expanding their business are expropriation and terrorism. It is because Indonesia is often considered Less Developed Countries. Moreover, based on Marshall, A. and Magnowski, D. 2010) multinational companies need to give attention on Political issues in Asia such as current tension between China and United States over the value of China currency, the de velopment of crisis which is rising in North Korea, and the border issue between Indonesia and Malaysia. Those issues have possibility to affect Political situation in Indonesia. In order to measure the political risk in a country, there are some methods that can be done by multinational companies. The first method is computer modeling; this method is used by American Can’s Primary Risk Investment Screening Matrix.Using this method a company can predict and simulate the political risk that might happen in expansion target country. The Second method is Ranking Systems, with this method; a company can consult with some political risks expert such as AON, who use analysis tools and experience to help minimizing the political risk. The last method is Early Warning Systems, this method emphasizes on watching early signs of political dangers, such as demonstration, act of violence by the citizen, the atmosphere of political situation to predict the possible political risk in the fu ture.Basically, a multinational company can use four actions to manage the political risk. The first possible action is withdrawing their investment on a country which is likely to have a bad political event. The other way is by sharing their equity with local business. Thirdly, a multinational company can keep the subsidiary and host nation be more dependent on the parent firm by controlling input, market, position and staged contribution. Lastly, a company can use the political risk insurance to ensure their safety from political risk.Additionally, Bribery is often practiced in Indonesia Political Environment which in some way makes the Political Situation in Indonesia become unstable. Economic Risk Economic risk refers to the risk from economy sector that may affect multinational companies to gain profit. Economic risk is vary in different countries, however it can be concluded that Economic risk in Less Developed Countries such as Indonesia, Vietnam, Thailand, tend to be higher than in Fully Developed Countries, Britain and United States of America for example.Some common examples for economic risk are the changes in inflation and devaluation of the currency value, foreign investment policies, monetary and fiscal policies. According to A. M Best report the Economic risk in Indonesia is considered moderate due to four factors. Indonesia is ranked as the fourth country with most population in the world, having approximately 240 million people and placed bellow China, India, and United States of America. With that amount of people Indonesia has the opportunity to create a big market for multinational companies.It is also stated that Indonesia’s Economy is considered well balanced in terms of manufacture, service and agriculture. Despite those three terms, Indonesia also has considerable amount of resources such as wood, nickel, gas, oil, textile, and garment in export sector. Nevertheless, Indonesia also has a close trading partnership with Developed C ountries in Asia, Japan, Singapore, South Korea, as well as Developed Country in America, United States of America. Moreover, Indonesia is expected to have economic growth for about 6% in 2012, and 5,9% in 2013 due to healthy domestic investment and consume.The last factor is Indonesia sovereign credit ranking was upgraded to one level below investment grade in 2011. Furthermore, although there are some factors above, Economic Risk in Indonesia is still risky. There are 2 major economic risks that threatening Indonesia’s economy. The first one is the effect of global inflation nowadays. It is worrisome to some extent that the global inflation will badly affect Indonesia economy in the long terms. As a less developed country with highly dependence on export sector, Indonesia is highly vulnerable to be badly affected by the global inflation.Second major risk is the after effect of the global inflation in the future, as the developed countries begin to recover from the global in flation, Indonesia is expected to find difficulties to recover as fast as those developed countries. Additionally, there are four ways that can be done by multinational company to assess economic risk in target country. Multinational company can measure the economic risk by analyzing the country ability to handle its debt. This kind of measurement is often called Quantitative method.Other way is called Qualitative method; this method refers to sending a group of their experts to make a research about one particular country leader and their possible policies in the future. Checklist method is also can be done to asses an economic risk in a country; this method is done using the past events to measure the possibility of economic risks in the future. Nonetheless, a multinational company can use a combination of Qualitative, Quantitative as well as Checklist methods to measure the economic risk.Legal Risk Legal Risk has the same meaning with Regulatory Risk, for Multinational Companies, it refers to potential of losing assets due to some legal or regulatory issues. Legal Risk or Regulatory Risk is often related to the Legal Environment. Legal Environment is the laws that are created and operated by the government to control the business operation. Generally, Legal Environment consists of local laws and legal systems. Local laws usually are varies in different countries, while Legal System is often similar.There are three types of legal systems that are stated by Deresky, H. (2008). It consists of Common Law, Civil Law and Islamic Law. Common Law refers to Old English Law, this kind of law uses the previous cases to determine the punishment for the current cases. In terms of Contract Law for business purposes, Common Law emphasizes on writing the details on the contract to be used as a guide and proof in case of disagreement in the future. The other law is Civil Law. Civil Law is a law that is originated from Roman law and often used in modern western countries.Civ il Law emphasizes the defendant to prove their innocent. In term of Contract Law, Common Law affirms that promises can be enforced without the need to specify the details in the contract. The last type of legal system is Islamic Law, Islamic Law is a law based on Islam Religion, and this kind of law is often used in Islamic Country. Moreover, Indonesia has its own law. Indonesia Law is originally created based on Civil Law and some customization from the Dutch who used to rule Indonesia in the past.Aside from the Legal Environment, there are some other regulatory issues such as, protectionist policies, tax systems and the level of government involvement in the economic and regulatory environment. Indonesia protectionist policies such as tariffs and quotas are vary, and often changed by the government which indicates that government involvement in the regulatory and economic sector is considerably high. Nonetheless, Indonesia charges 25% of the income to be paid for the tax, accordin g to taxrates. cc.This percentage is considered high, compared to Singapore, Indonesia’s neighbor country which taxes foreign corporate for only 17% of the income. Technological Risk Technological Risk is a term that refers to the potential risk to lose assets due to technological sector. Two major issues in technological risk are to protect its own technology to not be copied by its competitors and to provide the capable operator and capable environment to use the technology. Technological risk may be a concern for multinational company in Indonesia; they may find difficulties to find highly skilled employees there.However, labor cost in Indonesia is relatively cheaper compared to labor costs in western countries. Furthermore, it is possible to create a trademark or a copyright for Indonesia. Nevertheless, it must be noticed that there are many counterfeit products in Indonesia, and it seems that Indonesia Government has lack of motivation to capture and punish the producer and the seller of those products as well. Conclusion In the conclusion, Indonesia has offered a great opportunity for Multinational Company to expand their business there.With the constant growing market, cheap cost of labor, and the raw resources, in my opinion, it is promising for multinational company to expand their business to Indonesia. However, the potential risks in Indonesia, especially in Political and Economic sectors must be considered carefully. Nevertheless, if a multinational company manages to overcome the four risks, which are political risk, economic risk, legal risk, technological risk in Indonesia, it is obvious that particular company can gain a lot of profits from Indonesia.Reference List A. M. Best Company, Inc. (2012). AMB Country Risk Report (n. d. ). Available at : www3. ambest. com/ratings/cr/reports/Indonesia. pdf (Accessed on 1 November 2012) Deresky, H (2008), International Management – Managing Across Borders & Cultures, 6th ed, Pearson Internat ional Edition, Pearson Prentice Hall. Kobrin, S. (1979). Political risk: A review and reconsideration. Journal of International Business Studies, 10(1), 67-80. Marshall, A. & Magnowski, D. (2010). Key Political Risks to watch in Asia in 2011. Reuters. online] Available at : http://in. reuters. com/article/2010/12/21/idINIndia-53707220101221 (Accessed on 31 October 2012) One World Nation Online, 2012. World Population by Continents. [online] Available at : http://www. nationsonline. org/oneworld/world_population. htm (Accessed on 31 October 2012) Ruby, C. L. (2002). The definition of terrorism. Analyses of Social Issues and Public Policy, 2(1), 9-14. TaxRates. cc (2012). Indonesia Tax Rate. [online] Available at : http://www. taxrates. cc/html/indonesia-tax-rates. html (Accessed on 1 November Analysis of Political, Economic, Legal and Technological Risks in Indonesia Analysis of Political, Economic, Legal and Technological Risks in Indonesia By Yohanes Randy Anggoro Student ID: 1004536 Instructor: Mr. Bala Subramaniam N. Module Name: International Trade and Management Module Code: ERCBA-209 Word Counts: 2106 Due Date: 7 November 2012 Content Page Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 Brief Introduction to Indonesia†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Political Risk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 Economic Risk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Legal Risk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Technological Risk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 Reference List†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 8 Introduction Doing or expanding business in Asia nowadays has become a popular trend from companies around the world, many big firms based on Europe and United States of America recently has opened a branch in Asia in order to reach the Asia Market.The main attraction of Asia is the number of population, with approximately 4 million people spread around 5 regions, consist of Northern Asia, Western Asia, South Central Asia, South East Asia, and East Asia (OneWorldNationsOnline, 2012), it is apparent that Asia has become a large growing market that attracts companies around the world. Moreover, other than the large growing market potential it offers, there are other benefits that a firm can get by expanding business in Asia.First of all the labor cost in some less developed Asia Countries, such as Indonesia, Vietnam, Thailand, is relatively lower than labor cost in Western Countries, for example, England and United States of America. Secondly, the land cost in Asia, Indonesia in particular is relatively much cheaper than in Western countries. However, despite the benefits that have been mentioned above, there are some risks that need to be known by a firm before deciding to expand business to Asia, Indonesia in particular.The risks itself can be divided by four which are, political risk, economic risk, legal risk, and technological risk. Below, there is an explanation and examination about four of the risks that may arise while expanding business in Indonesia. Brief Introduction to Indonesia Indonesia is a country in South East Asia which consists of approximately 17. 508 islands. The official name of Indonesia is Rep ublic of Indonesia. There are 5 main islands in Indonesia which are Sumatra, Java, Kalimantan or Borneo, Sulawesi and Papua.Geographically, Indonesia is placed between Pacific Ocean and Indian Ocean as well. Jakarta is the capital city of Indonesia and is placed in Java Island. The Legal Currency in Indonesia is Indonesia Rupiah. In term of people, Indonesia has approximately 240 million of people with various ethnicities and is the fourth most populated country in the world. The current president of Indonesia is Susilo Bambang Yudhoyono. Political Risk According to Deresky (2008) Political Risk is government actions or politically motivated events that can affect a firm in the long terms.Furthermore, Kobrin (1979) states that political risk covers possibility of unwanted consequences created by governmental activity that affect international business. Nationalization, Expropriation and Confiscation, Terrorism, and Macro political and Micro political risk are the example of commonly known political risk events. Nationalization is a governmental action to take over a private asset to be owned and operated by the government. Next is Expropriation, Expropriation is a term to define a process of taking away a private property for a public use.The difference between Expropriation and Nationalization may seem a bit vague, but the intentions for both terms are different. Nationalization is a process to take over a private asset by a government in order to make profits. For example is the nationalization of Netherland Enterprises by Indonesia Government after the independence war. On the contrary, Expropriation only takes private property to be used for public, for example, a government takes over a land of a private house to be used for highway because the public needs a highway to support the transportation around that area.The third is Terrorism, Terrorism as defined by Ruby (2002) and Title 22 of US Code is politically motivated action committed in a violent manne r against common people. And the last is Macro political and Micro political risk, Macro political risk is any governmental action that affects all the multinational companies within the country while micro political risk is the governmental actions which only affects some of multinational companies.Moreover, it is important for a firm to know and manage prevention of any political risk that they may encounter while expanding their business, without doing that matters a company may end up having no profits or even loss their assets while going global. In Indonesia, particular political risk events that a firm likely to encounter when expanding their business are expropriation and terrorism. It is because Indonesia is often considered Less Developed Countries. Moreover, based on Marshall, A. and Magnowski, D. 2010) multinational companies need to give attention on Political issues in Asia such as current tension between China and United States over the value of China currency, the de velopment of crisis which is rising in North Korea, and the border issue between Indonesia and Malaysia. Those issues have possibility to affect Political situation in Indonesia. In order to measure the political risk in a country, there are some methods that can be done by multinational companies. The first method is computer modeling; this method is used by American Can’s Primary Risk Investment Screening Matrix.Using this method a company can predict and simulate the political risk that might happen in expansion target country. The Second method is Ranking Systems, with this method; a company can consult with some political risks expert such as AON, who use analysis tools and experience to help minimizing the political risk. The last method is Early Warning Systems, this method emphasizes on watching early signs of political dangers, such as demonstration, act of violence by the citizen, the atmosphere of political situation to predict the possible political risk in the fu ture.Basically, a multinational company can use four actions to manage the political risk. The first possible action is withdrawing their investment on a country which is likely to have a bad political event. The other way is by sharing their equity with local business. Thirdly, a multinational company can keep the subsidiary and host nation be more dependent on the parent firm by controlling input, market, position and staged contribution. Lastly, a company can use the political risk insurance to ensure their safety from political risk.Additionally, Bribery is often practiced in Indonesia Political Environment which in some way makes the Political Situation in Indonesia become unstable. Economic Risk Economic risk refers to the risk from economy sector that may affect multinational companies to gain profit. Economic risk is vary in different countries, however it can be concluded that Economic risk in Less Developed Countries such as Indonesia, Vietnam, Thailand, tend to be higher than in Fully Developed Countries, Britain and United States of America for example.Some common examples for economic risk are the changes in inflation and devaluation of the currency value, foreign investment policies, monetary and fiscal policies. According to A. M Best report the Economic risk in Indonesia is considered moderate due to four factors. Indonesia is ranked as the fourth country with most population in the world, having approximately 240 million people and placed bellow China, India, and United States of America. With that amount of people Indonesia has the opportunity to create a big market for multinational companies.It is also stated that Indonesia’s Economy is considered well balanced in terms of manufacture, service and agriculture. Despite those three terms, Indonesia also has considerable amount of resources such as wood, nickel, gas, oil, textile, and garment in export sector. Nevertheless, Indonesia also has a close trading partnership with Developed C ountries in Asia, Japan, Singapore, South Korea, as well as Developed Country in America, United States of America. Moreover, Indonesia is expected to have economic growth for about 6% in 2012, and 5,9% in 2013 due to healthy domestic investment and consume.The last factor is Indonesia sovereign credit ranking was upgraded to one level below investment grade in 2011. Furthermore, although there are some factors above, Economic Risk in Indonesia is still risky. There are 2 major economic risks that threatening Indonesia’s economy. The first one is the effect of global inflation nowadays. It is worrisome to some extent that the global inflation will badly affect Indonesia economy in the long terms. As a less developed country with highly dependence on export sector, Indonesia is highly vulnerable to be badly affected by the global inflation.Second major risk is the after effect of the global inflation in the future, as the developed countries begin to recover from the global in flation, Indonesia is expected to find difficulties to recover as fast as those developed countries. Additionally, there are four ways that can be done by multinational company to assess economic risk in target country. Multinational company can measure the economic risk by analyzing the country ability to handle its debt. This kind of measurement is often called Quantitative method.Other way is called Qualitative method; this method refers to sending a group of their experts to make a research about one particular country leader and their possible policies in the future. Checklist method is also can be done to asses an economic risk in a country; this method is done using the past events to measure the possibility of economic risks in the future. Nonetheless, a multinational company can use a combination of Qualitative, Quantitative as well as Checklist methods to measure the economic risk.Legal Risk Legal Risk has the same meaning with Regulatory Risk, for Multinational Companies, it refers to potential of losing assets due to some legal or regulatory issues. Legal Risk or Regulatory Risk is often related to the Legal Environment. Legal Environment is the laws that are created and operated by the government to control the business operation. Generally, Legal Environment consists of local laws and legal systems. Local laws usually are varies in different countries, while Legal System is often similar.There are three types of legal systems that are stated by Deresky, H. (2008). It consists of Common Law, Civil Law and Islamic Law. Common Law refers to Old English Law, this kind of law uses the previous cases to determine the punishment for the current cases. In terms of Contract Law for business purposes, Common Law emphasizes on writing the details on the contract to be used as a guide and proof in case of disagreement in the future. The other law is Civil Law. Civil Law is a law that is originated from Roman law and often used in modern western countries.Civ il Law emphasizes the defendant to prove their innocent. In term of Contract Law, Common Law affirms that promises can be enforced without the need to specify the details in the contract. The last type of legal system is Islamic Law, Islamic Law is a law based on Islam Religion, and this kind of law is often used in Islamic Country. Moreover, Indonesia has its own law. Indonesia Law is originally created based on Civil Law and some customization from the Dutch who used to rule Indonesia in the past.Aside from the Legal Environment, there are some other regulatory issues such as, protectionist policies, tax systems and the level of government involvement in the economic and regulatory environment. Indonesia protectionist policies such as tariffs and quotas are vary, and often changed by the government which indicates that government involvement in the regulatory and economic sector is considerably high. Nonetheless, Indonesia charges 25% of the income to be paid for the tax, accordin g to taxrates. cc.This percentage is considered high, compared to Singapore, Indonesia’s neighbor country which taxes foreign corporate for only 17% of the income. Technological Risk Technological Risk is a term that refers to the potential risk to lose assets due to technological sector. Two major issues in technological risk are to protect its own technology to not be copied by its competitors and to provide the capable operator and capable environment to use the technology. Technological risk may be a concern for multinational company in Indonesia; they may find difficulties to find highly skilled employees there.However, labor cost in Indonesia is relatively cheaper compared to labor costs in western countries. Furthermore, it is possible to create a trademark or a copyright for Indonesia. Nevertheless, it must be noticed that there are many counterfeit products in Indonesia, and it seems that Indonesia Government has lack of motivation to capture and punish the producer and the seller of those products as well. Conclusion In the conclusion, Indonesia has offered a great opportunity for Multinational Company to expand their business there.With the constant growing market, cheap cost of labor, and the raw resources, in my opinion, it is promising for multinational company to expand their business to Indonesia. However, the potential risks in Indonesia, especially in Political and Economic sectors must be considered carefully. Nevertheless, if a multinational company manages to overcome the four risks, which are political risk, economic risk, legal risk, technological risk in Indonesia, it is obvious that particular company can gain a lot of profits from Indonesia.Reference List A. M. Best Company, Inc. (2012). AMB Country Risk Report (n. d. ). Available at : www3. ambest. com/ratings/cr/reports/Indonesia. pdf (Accessed on 1 November 2012) Deresky, H (2008), International Management – Managing Across Borders & Cultures, 6th ed, Pearson Internat ional Edition, Pearson Prentice Hall. Kobrin, S. (1979). Political risk: A review and reconsideration. Journal of International Business Studies, 10(1), 67-80. Marshall, A. & Magnowski, D. (2010). Key Political Risks to watch in Asia in 2011. Reuters. online] Available at : http://in. reuters. com/article/2010/12/21/idINIndia-53707220101221 (Accessed on 31 October 2012) One World Nation Online, 2012. World Population by Continents. [online] Available at : http://www. nationsonline. org/oneworld/world_population. htm (Accessed on 31 October 2012) Ruby, C. L. (2002). The definition of terrorism. Analyses of Social Issues and Public Policy, 2(1), 9-14. TaxRates. cc (2012). Indonesia Tax Rate. [online] Available at : http://www. taxrates. cc/html/indonesia-tax-rates. html (Accessed on 1 November