Relationship Between Microfinance And Nigerias Economic Growth Economics Essay

Relationship Between Microfinance And Nigerias Economic Growth Economics EssayABSTRACTMicrofinance has over the years been associated with eradicating poverty, and consequently improving the standard of alimentation of the less privileged members of a society, and rubbing on corroboratively on the nations economy. This dissertation aims at exploring the impact microfinance has on economic ontogeny, considering a specific fiber of the Federal Republic of Nigeria. Due to the fact that this argona of study has not witnessed so much seek in the past, this work seeks to come up with an burn up where the different links between microfinance and economic growth can be discovered and studied. Since most societies, especially the developing ones usually experience the presence of devil types of financial system, the bringal and the informal one under which microfinance falls, this go forth also be taken into consideration. The first hypothesis to be considered has to do with the micr o level and this examines the relationship between microfinance and the financial system. The Second hypothesis has to do with the macro level and examines the relationship between the financial system and economic growth, go the threesome one links the previous two, by checking the relationship between microfinance and economic development.Keywords Microfinance Economic Growth Financial System NigeriaINTRODUCTIONMicrofinance Institutions are financial organisations accredited to provide micro-savings, micro-credit, and micro-insurance in an economy. They operate in the informal sector of the financial system and are the major source of fund-provider for the medium, broken and micro-enterprises.The basics of microfinance is the fact that the ridiculous cannot access a loan from a bank of any reasonable commercial source, that is why Microfinance Institutions go out to the villages, meet with the poor who are promote to form an association, they give them micro-credits and somet imes even give them trainings to help them occupy the best using up of the loan accessed (Mohammed and Hasan, 2008).The methodology used by most micro-finance institutions to make loan is that they gather people into impudence groups and meet weekly. These groups assume joint liability and joint guarantee on loans extended to any member of the trust unit and this invariably helps in reducing incidence of defaults and bad loans. Most Micro-Finance Institutions enjoy a high repayment rate.It should also be noted that volume of microfinance customers are women who also make up a greater percentage of the worlds poor, and also experience a very high rate of unemployment and sadly in most cases are responsible for providing for and taking care of their families.Nigeria with a GDP-real growth rate of 5 %( 2009 est.), remains a major player in the African economy but her population of about 149, 299,090(sourced from CIA-The world fact book), which is the largest in Africa, has about ha lf of it living in poverty. However, since the introduction of microfinance in the country, an outgrowth has been spy both in the growth of the economy and also in the increase in number of microfinance institutions.The important Bank of Nigeria is saddled with the responsibility of issuing banking permit and supervision of banks in the country, Micro-finance Institutions inclusive.LITERATURE REVIEWMicrofinance, through its readiness of financial go to the poor can influence economic growth by promote savings, giving out loans for feasible couchments, provision of free advisory services to new clients on how best to invest, and also to those with long standing relationship, on how to increase the marginal productivity of capital (Pagano, 1993).A lot of studies have been carried out on the relationship between financial development and economic growth. King and Levine(1993) are in support of the view that financial development leads to economic growth and in their visit on Jo seph Schumpeters work pointed out that banking institution through their provision of funds for productive investments are of great importance to economic growth(Schumpeter, 1911 cited in King and Levine, 1993). Greenwood and Jovanovic(1990) suggested that the relationship between financial development and economic growth is mutual, small-arm Khan,(1999) who is of a similar opinion explains further that economic growth create financial development which in turns helps in sustaining the growth.Qayyum et al.,(2007?) are of the opinion that direct finance has a significant decreed relationship with economic growth. The availability of funds to the poor increases production and output, this also leads to an increases in the demand for more financial services (micro-savings and micro-insurance), which positively affects financial development and sets the economy on the path of growth(Khan, 2008).It can then be said that availability of funds generates enterprise, enterprise generates f inance flow, finance flow generates financial development, while financial development generates economic growth. De Gregorio and Guidotti(1995) also argued that financial development leads to improved economic growth, especially when funds are efficiently invested.However, Kemal, et al.,(2004) do not regard finance(micro-finance inclusive) as an important determinant of economic growth and Lucas(1988) even referred to it as overstressed, while Levine(1997) sees financial institutions as more catastrophic to a nations economic growth. This led to a call for redefinition and the use of appropriate measure of estimation of the relationship between financial development and economic growth and development of financial intermediaries by Bencivenga and Smith(1991).The main objective of Microfinance is to raise income, by encouraging private sector activity through the provision of micro-credit to micro and small scale entrepreneurs ((Aghion and Morduch, 2000)). In a study conducted by Chua et al.,(2000), they noticed that the impact of microfinance services on income and consumption is dependent on the initial endowment of the home plate and the length of time they have been clients of the institution. It is also affected by how efficient they are in the management of the sourced resource and also the profitability of the sector they invest in. Availability of Social amenities and a cheaper source of factors of production also influence income.According to Akanji (2002), the poor make perfumeive use of the credit facilities and not only are they willing to pay the high interest rate on loan, they also in no time make enough returns to unknot a savings account with the MFI. It should also be noted that the conversion of the poor who were formerly economic liabilities into profit making micro-entrepreneurs have a positive impact on the financial system and consequently begins the process of economic growth by bring its full physical and human resources into prod uctive use (Kamath, 2008).METHODOLOGYNot many literature are available as regard the relationship between microfinance and economic growth, therefore the study will entrust much on notional framework in order to understand the link between microfinance and economic growth. Both Primary and Secondary sources of data will be used and Questionnaires will be sent out to have a direct feedback from the beneficiary of the scheme while previous studies and findings as regards the Nigerian economy will also be put into use in order to dress a theoretical association between Microfinance and Economic Growth.It should be noted that the two main variables in this dissertation is Microfinance and Economic growth. The choice of Nigeria as a case study was borne out of the fact that the country has belatedly had its microfinance regulations tuned to enable it play its role in serving its targeted market effectively. An increase in the growth of microfinance institutions in the country has als o made them better formal and competitive, giving the erstwhile neglected micro-entrepreneurs a choice.The relationship between financial system and economic growth will be first examined and in the number part, microfinance, alongside its associated theories will be explored to determine their impact on Economic Growth. The third part will be about examining the impact of theoretical macro-level effect on the case study, which is Nigeria. Its effect on the case study will help in reshaping the theoretical framework which will be the basis for conclusion.To determine the impact of Microfinance on economic growth, micro credit disbursement from 2000 to 2009 will be analyzed using both non-parametric and parametric rivulet methods.The parametric test involves regressing the dependent variable (GDP from 2000-2009) against the explanatory variable (micro-credit disbursements) to ascertain if its significant and provide explanatory power for economic growth. While the Chi-square metho d of non-parametric test will be used to examine the questionnaire to determine if there is any association between Microfinance and economic growth.RESEARCH QUESTIONS AND OBJECTIVESThis Objective of this dissertation to answer the following questionsIs there a relationship between microfinance and Nigerias economic growth between 2000-2009?Does investment of micro-credit into commerce contribute more to economic growth than other sectors?Does microfinance have an effect on the financial system?Does an increase in the number of Microfinance Institutions result to an increase in economic growth?POTENTIAL PROBLEMThe potential problems envisaged in this research work is the availability of data from microfinance institutions in Nigeria as a large number of them do not have access to the internet and so do not post their information online. This brings about another problem, which is the distance between my place of study and the location of the case study. The relative scarcity of rese arch on this area of study also creates a problem of limited materials. However, I have devised solutions for each of the problem. Most of my materials will be sourced from the Microfinance Unit of the Other-Financial -Institutions department of the Central Bank of Nigeria, as they have unhindered access to records of every Microfinance Institution operating in Nigeria. Most of my materials will be sent online while I will make use of a cheap and reliable courier service for my questionnaires. Also, the available materials online will be coupled with those sourced from the Central Bank of Nigeria program library and Data collected on the MFIs.RESOURCES REQUIREDThe main resources needed are data on Nigerias GDP, list of MFIs presently operating, records of loan disbursement by MFIs, records of do amount set aside for Small and Medium Scale Enterprise by the nations commercial banks. All of these will be sourced from the Central Bank of Nigeria, while Past Studies and other literatu re will be freely assessed through the school library. The Questionnaires will be sent through mail and returned through courier. Estimated equal at conclusion is 250, which includes cost of printing and binding, as well as courier cost.WORKPLANITEMPARTICULARSNOTESTIME FRAME1.Dissertation ProposalSubmissionwhitethorn 5, 20102.Literature look intoSourcing of materials and review of literatureJuly 4- 16, 20103.Submission of preliminary literature review to my supervisor, and making suggested correctionsJune 17- 20, 20104.MethodologyReading on Methodology and structuring of theoretical frameworkJune 20- 24, 20105.Submission of proposed methodology to supervisor, and making suggested amendments.July 25-June 28, 20106.QuestionnaireDevise QuestionnaireJune 29-30, 20107.Submission of questionnaire to supervisor, and making suggested amendmentsJuly 1-5 20108.Questionnaire distributionJuly 6, 20109.Collection of all other needed data and further review of past literatureJuly 7-20 201010Col lection of questionnaires and analysis of findingsJuly 21- 25, 201011.Data AnalysisJuly 26- 30, 201012.Interpretation of Findings.August 1-5, 201013.Formulation of ConclusionAugust 6-10,201014.Abstract, and appendix and referenced materials positionAugust 11- 1515.Updating and ReviewReview with SupervisorAugust 16-20, 201016.Self review and amendmentAugust 21-25, 201017.Final review with supervisor and proof-readingAugust 26-28,201018. picture and BindingPrinting and BindingAugust 29, 201019.SubmissionSubmission at the PG officeSeptember 2, 2010.EXPECTED OUTPUTThe output, which is the conclusion of this dissertation, is expected to help the presidency in its activities aimed at the nations economic development. It will also guide them in effective channeling of resources aimed at poverty alleviation. MFI administrators will also benefit from this work as it will help them in making decisions on how to enlarge their area of coverage and to also record higher returns through provisi on of other services. presenter Agencies and International institutions will also discover opportunities for helping in the economic growth and empowering the poor.Lastly, this study is expected to pilot other studies in this area and form a basis on which other people discover more efficient and effective ways of making microfinance have a lasting positive impact on economic growth.

Microeconomics: Elasticity Concept of Supply and Demand

Microeconomics elasticity Concept of Supply and inquireINTRODUCTORY MICROECONOMICS contentsMICROENOMICS (Words 2,744)1.ELASTICITY CONCEPT OF DEMAND SUPPLYElasticity lets us know a lot of things about our crave and supply. Besides that, gingersnap of have lets us know what number of additional units of an item will be sold when the cling to is cut (or what number of fewer units will be sold when the value is increased). The degree to which a consume or supply draw ins responds to a interpolate in value is the worm elasticity (Heakal, R., cc3). Reem Heakal (2003) explicit that items that atomic number 18 necessities are to a greater limit incentive to charge changes since purchasers might keep purchasing these items despite the increments of worth. On the other hand, a equipment casualty increase of a good or go that is recognized to a lesser degree need will stop more consumers since the chance expense of purchasing the item will get to be excessively high (Quant Le go, 2013).Elasticity is a concept of responsiveness of one or more economic varyings to changes in an alternate set of one or more changeables (Quant Lego, 2013). The way of this responsiveness and the genuine value of elasticity convey useful knowledge and culture to underwrite the way of relationship among economic variables and compact decisions to influence one economic variable under ones control to acquire a desired outcome about the quality of the other economic variable (Quant Lego, 2013).A good or gain is acknowledged to be highly elastic if a slight change in value prompts to a abrupt change in the cadence consumeed or supplied. Normally these sorts of items are promptly accessible in the business and an individual may not so some(prenominal) require them in his or her everyday life. O the other hand, an inelastic good or service is one in which changes in value get wind just modest changes in the amount demanded or supplied, if both whatsoever (Quant Lego, 201 3). These products have a tendency to be things that are to a greater extent a need to the consumer in his or her everyday life.The elasticity of the supply or demand curves evict be de barrierined using the equation be pitifulElasticity = (% change in quantity / % change in price)According to Heakal, R. (2003), if elasticity is greater than or equal to one, the curve is considered to be elastic. If it is less than one, the curve is said to be inelastic.The demand curve is a negative slope as shown in type 1, and if there is a large decrease in the quantity demanded with a small increase in price, the demand curve looks flatter, or more horizontal. This flatter curve means that the good or service in question is elastic (Heakal, R., 2003).Figure 1Graph of elastic demand(Source http//www.investopedia.com/university/economics/economics4.asp)Meanwhile, inelastic demand is represented with a much more upright curve as quantity changes little with a large movement in price as shown in Figure 2 (Heakal, R., 2003).Figure 2Graph of Inelastic demand(Source http//www.investopedia.com/university/economics/economics4.asp)Elasticity of supply works similarly. According to Heakal, R. (2003), if a change in price results in a big change in the amount supplied, the supply curve appears flatter and is considered elastic. Hence, elasticity in this case would be greater than or equal to one as shown in Figure 3.Figure 3 Graph of elastic supply(Source http//www.investopedia.com/university/economics/economics4.asp)On the other hand, if a big change in price only results in a minor change in the quantity supplied, the supply curve is steeper and its elasticity would be less than one as shown in Figure 4 (Heakal, R., 2003).Figure 4Graph of inelastic supply(Source http//www.investopedia.com/university/economics/economics4.asp)Elasticity, defined as a ratio of proportional or per cent changes, is necessarily dimensionless meaning that it is independent of units of metre (Hodrick, L. S. (1999). For example, the value of the price elasticity of demand for gasoline would be the same whether prices were measured in dollars or francs, or quantities in tonnes or gallons. This unit-independence is the main author why elasticity is so popular a measure of the responsiveness of economic behaviour (Hairies, L., 2005).2.PRICE ELASTICITY OF DEMAND AND SUPPLYHence, elasticity is a measure of exactly how much the amount demanded will be influenced by a change in value wage or change in price of related goods (Heakal, R., 2003). There are four sorts of elasticity, there are price elasticity of demand, income elasticity of demand, cross price elasticity of demand and price elasticity of supply (Gachette, B., 2007).2.1Price Elasticity of demandPrice elasticity of demand analyses the responsiveness of consumer demand to a change in price which is probative to know since then we know if its more beneficial to increase or decrease cost.In addition, price elasticity of demand help normal demand and help the firms choose about pricing in distinctive business portions. Monopolistic price discrimination might be practiced if the demand elasticity of distinctive business sector fragments is known/ assessed. Price elasticity of demand and supply helps to focus the feasible offering of the occurrence of a impose or a change in the tax rate (Das, S., 2005). Buoyancy in tax venues might be judged on the basis of income and price elasticity. This information is very useful for the economists included in providing estimates of tax revenue and proposes new taxes or changes in tax rates in the government (Das, S., 2005).2.2Income elasticity of demandIncome elasticity of demand is the responsiveness of consumer demand to a change in wage this helps economists with classifying goods as substandard (the higher(prenominal) the income the lower the consumption) or normal (the higher the income the higher the consumption) (Das, S., 2005).Income elasticity of demand hel ps extend the interest for goods that a nation might require as the economy develops to higher and higher per capita wage levels. Demand for certain essential components of food are relatively inelastic after a certain level of income is reached. Thus, demand for cereals (for example, oats) is inelastic once the population has get across the poverty line. But the demand for grains may at present increment through the demand for meat (as animals have to be reared on fodder grains). much(prenominal) information helps enormous-term national planning.2.3Cross price elasticity of demandCross price elasticity of demand is the responsiveness of consumer demand to a change in a competitors price this helps economists in comprehension if goods are complements (demand for one leads to demand for another) or substitutes (demand for one means less demand for another) (Das, S., 2005).Cross price elasticity also help pricing and trade strategies keeping in view the effect of changes in cost o f substitutes, complementary items and competing items in the same indigence fulfilling category. Publicizing using elasticity is essential to decide about advertising outlays and alternative advertising campaigns of organizations.2.4Price elasticity of supplyFinally price elasticity of supply is the responsiveness regarding supply with a change in price which helps economists comprehend suppliers capacity to increase stocks for example agricultural goods manufacturing businesss have a low price elasticity of supply because if demand suddenly increases they have limited capacity to increase supply because of the coarse time it takes to produce this supply (Das, S., 2005).3. dispute BETWEEN CONSUMER SURPLUS PRODUCER SURPLUSCustomer and Producer special are two huge parts of matters of trade and profit particularly concerning marketing and pricing (Michigan State University, 2001). Customer Surplus is the cost above business sector value that you might be ready to pay or expressed diversely it is the maximum price that you might pay for a thing the genuine price for that thing. Producer Surplus is basically the contrast between what a manufacturers is instinctive and able to supply or offer an item for and what they get for it (Whfreeman, 2005).Simple example about consumer bare(a), much(prenominal)(prenominal) as I-phone, lets grade that you willing to pay a maximum of RM2,500 but when you get to the store you discovered that the I-phone only cost you RM2,000 in which case you bought it and received a consumer unornamented of RM 500 RM2,500 RM2,000 = RM 500. Another example for maker supernumerary, take a company like Apple, lets say that they would be willing to sell I-Pod for RM 200 and that is the absolute lowest they would willing to sell for but they manage to sell them for a price of RM 300 in this case the producer excessiveness is RM one hundred RM 300 RM 200 = RM100.When you observed those figures carefully, youll see that a basic econ omic principle in that the higher a product is priced the higher the producer surplus will be but the lower consumer surplus will, eventually if the seller keeps raising its prices then the consumer surplus will become 0 at the orchestrate the consumer will not want to purchase that product anymore (Whfreeman, 2005). Therefore, there are certain factors that need to be comprehended deeply in indian lodge to assure more about this consumer and producer surplus.Firstly is the law of demand. The law of demand stated that consumers will buy more of something (for example, sugar) when the price is falls or cheaper. Secondly is the law of supply. The law of supply stated that the higher the price of a product the more of it sellers are willing to supply. The premise of this comes essentially from producer surplus. Higher product price increases producer surplus thus they are willing to sell more of it because of the positive surplus (Michigan State University, 2001).The concepts of pro ducer and consumer surplus help economists make welfare (normative) judgement about different methods of producing and distributing goods (Khan Academy, 2014). The contrarietys between consumer and producer surplus are consumer surplus measures the gains to consumers from trade, whereas producer surplus measures the gains to producers from trade. Both consumer and producer surplus can measure a nations prosperity more accurately than GDP (gross domestic product). These concepts can help us to understand why markets are an efficient way to organize trade.Figure 5Graph of total surplus of Consumer and producer (e.g. books)(Source Gachette, B. (2007) Principles of Microeconomics.)Based on the Graph of total surplus of consumer and producer as shown in Figure 5, both consumers and producers are better off because there is a market in this good, there are gains from trade. These gains from trade are the reason everyone is better off participating in a market economy than they would be i f each individual tried to be self-sufficient.Consumer surplus is the difference between the value to buyers of a level of consumption of a good and the amount the buyers must pay to get that amount. Consumer surplus is the welfare consumers get from the good. Consumer surplus can be estimated from the demand curve for a good (Pepperdine University, 2010). The term producers surplus first shown up in A. Marshalls Principle 11, p. 811, f.2, taking shape as the area between the competitive equilibrium price and the supply curve, a curve that slopes upwards as a result of placing the firms in order of diminishing efficiency as shown on figure 5. Marshall seems to stretch out the terms in order to comprehend all the surpluses a man determines as producer, including a workers surplus arising from the sale of his personal services and a savers surplus arising from the services of his capita (Mishan, E. J., 1968).4.EFFECTS OF ELASTICITY ON CONSUMER SURPLUS PRODUCER SURPLUSIn economics, el asticity is the ratio of the proportional change in one variable with respect to proportional change in another variable (Gachette, B., 2007). Price elasticity, for example, is the sensitivity of quantity demanded or supplied to changes in prices. Elasticity is usually expressed as a negative number but shown as a positive percentage value. One typical application of the concept of elasticity is to consider what happens to consumer demand for a good (for example, apples) when prices increase. According to Gachette, B. (2007), as the price of a good rises, consumers will usually demand a lower quantity of that good, perhaps by consuming less, substituting other goods, and so on. The greater the extent to which demand falls as price rises, the greater the price elasticity of demand. However, there may be some goods that consumers require, cannot consume less of, and cannot find substitutes for even if prices rise (for example, certain prescription drugs). Another example is oil and it s derivatives such as gasoline. For such goods, the price elasticity of demand might be considered inelastic.Furthermore, elasticity will normally be different in the short term and the long term (Das, S., 2005). For example, for many goods the supply can be increased over time by locating alternative sources, investing in an expansion of production capacity, or developing competitive products which can substitute. One might therefore expect that the price elasticity of supply will be greater in the long term than the short term for such a good, that is, that supply can adjust to price changes to a greater degree over a daylong time (Pepperdine University, 2010).This applies to the demand side as well. For example, if the price of petrol rises, consumers will find ways to conserve their use of the resource. However, some of these ways, like finding a more fuel-efficient car, take longer period of time. Thus, consumers may be less able to adapt to price shocks in the short term than in the long term (Hairies, L., 2005).However, there would be another effect of consumer surplus when the producer takes advantage of consumer surplus such as setting prices. In an organization (producers/ sellers) can identify groups of consumer within their market who are willing and able to pay different prices for the same product, then producers/sellers might engage in price discrimination. The price that the consumer willing to pay, thereby turning consumer surplus into extra revenue. This often happen in local fitness gym either in your area or other places whereby different fitness gym offers different prices with the same products.Another good example that can be seen the effect of consumer and producer surplus is the Airlines companies itself, such as Air Asia Airlines. Air Asia Airlines using their famous tagline Now everyone can fly is one of the cheapest and affordable prices Airlines in Asia. By extracting from consumers the price they are willing and able to pay for f lying to different destinations are various times of the day, and exploiting variations in elasticity of demand for different types of passenger service. If you noticed that, often the price of books flights is cheaper when you book the flight earlier either weeks or months in advance. The airlines are prepared to sell tickets more cheaply then because they get the benefit of cash-flow at the same time making sure that each seat are being filled. The nearer the time to take off, the higher the price of the tickets flights. Thus, if a man of affairs is desperately to fly from Kota Kinabalu, Sabah to Kuala Lumpur, Peninsular Malaysia within 24 hour time, his or her demand is said to be price inelastic and the corresponding price for the ticket will be much higher. Therefore, this is one of the way Airlines such as Air Asia Airlines exploit their monopoly position by raising the prices in markets where demand is inelastic, at the same time extracting consumer surplus from buyers and i ncreasing profit margin.5.SUMMARYIn conclusion, elasticity is an important concept in understand the incidence of indirect taxation, bare(a) concepts as they relate to the theory of the firm, distribution of wealth and different types of goods as they relate to the theory of consumer choice and. Elasticity is also significant in any discussion of welfare distribution, in particular consumer surplus, producer surplus, or government surplus. Furthermore, the concept of elasticity has an extraordinarily wide range of applications in economics. In particular, an understanding of elasticity is useful to understand the dynamic response of supply and demand in a market, in order to achieve an intended result or avoid unintended results. For example, a business considering a price increase might find that doing so lowers profits if demand is highly elastic, as gross sales would fall sharply. Similarly, a business considering a price cut might find that it does not increase sales, if dema nd for the product is price inelastic. Therefore, an economic channelize is any piece of information that helps people makes better economic decisions.6.REFERENCESDas, S. (2005) The Concept of Elasticity in Economics. Available at http//www.montgomerycollege.edu/sdas/elasticity/broaderusage.htm (Accessed 20 February 2014).Gachette, B. (2007) Principles of Microeconomics. Available at http//www.aiu.edu/publications/student/english/Principles%20of%20Microeconomics.html (Accessed 21 February 2014)Haines, L. (2005) Elasticity is Back Oil and Gas Investor.Heakal, R. (2003). Economics Basics Elasticity. Investopedia Available at http//www.investopedia.com/university/economics/economics4.asp (Accessed 21 February 2014).Hodrick, L. S. (1999) Does Price Elasticity Affect Corporate Financial Decisions? Journal of Financial Economics.Mishan, E. J. (1968). What is Producer Surplus? The American Economic Review, Vol. 58, No. 5.Khan Academy (2014) Consumer Producer Surplus. Available at https// www.khanacademy.org/economics-finance-domain/microeconomics/consumer-producer-surplus (Accessed 20 February 2014).Michigan State University (2001) Consumer and Producer Surplus. Available at https//www.msu.edu/course/ec/201/brown/pim/pdffiles98/csps98.pdf (Accessed 21 February 2014).Pepperdine University (2010) Chapter 4 Surplus and Efficiency. Available at http//faculty.pepperdine.edu/jburke2/ba210/PowerP1/Ch4.ppt (Accessed 20 February 2014).Quant Lego (2013) Economics Basics A Tutorial. Building Blocks For Financial Quant Skills. Available at http//www.quantlego.com/knowledge/economics-basics-tutorial/5/ (Accessed 21 February 2014).Whfreeman (2005) Chapter 6 Consumer and Producer Surplus. Available at http//www.whfreeman.com/college/pdfs/krugman_canadian/CH06.pdf (Accessed 21 February 2014).

Raney :: Essays Papers

RaneyIn my opinion, I did not like this book. I do not like books, which involve racist notions. How could she be so narrow-minded? Her parents taught her everything when it came to treating passel who were different as different, and she could not manage to ignore their advice. She was a very racist woman, which caused a conflict between her and her husband, whose best friend was a drear man named Johnny Dobbs. Raney believed that if her mother could be racist that she could be too. This caused conflict with Charles because she believed she could eaves drop on Charless phone conservations through the heating vent in the bedroom.Charles and Raney had very different beliefs and that is why they have trouble getting along with each other sometimes. Raney comes from a family who has strong family and religious ties. Charles is not a solid church attendant, and his family is very spread out across the nation, preventing him from seeing them on a regular basis. Charles is a highly ed ucated man, whereas Raney has lone(prenominal) a spicy School degree. The only things that they have in common are that they both have respect for each other and they both like music. This is not a very strong basis for a relationship between two people who are supposed to be in love.In the beginning, Raney is a mammas girl who wants to do everything that her mother did when she was young. On the honeymoon she was folie with Charles because he didnt do exactly what he was supposed to do, which means that he did not do exactly what Raneys father did on his honeymoon. On his honeymoon, he just stood there in his Fruit of a Loom underclothing drinking champagne out of a plastic cup. She was probably told how the honeymoon went from her mother. One of the biggest conflicts the couple had was the fact that Raney was very racist and Charles best friend was black. Charles was upset because he did not agree with Raneys feelings towards Mr. Dobbs. This is another thing that Raney was t aught by her parents to be racist. At one point, it appears that Raney is getting over her racist views when Johnny Dobbs is named the godfather of her child. The only thing that keeps it the same way, racist, is that he still stays at the Ramada Inn.

Fukyama V huntington Essay -- essays research papers

Francis Fukuyama and Samuel Huntington are two of the most controversial and influential in advance(p) political theorists of our times. Fukuyamas book, The End of History and the Last Man, and Huntingtons book, The Clash of Civilizations and the Remaking of World Order, pose two very conflicting theories on international relations. In this paper I will summarize and compare/contrast the two theories. Both theories, written since the fall of communism and updated since the first gulf war, puzzle been widely read, taught, praised and criticized The End of History and the Last Man is a book in which Francis Fukuyama argues the controversial thesis that the end of history, a time when class distinctions no longer exist, believing them to be the cause of the evolution of everything that has existed in society up in till that point, is among us."What we may be witnessing in not unless the end of the Cold War, or the passing of a particular period of post-war history, but the end of history as such that is, the end point of mankinds ideological evolution and the universalization of Western liberal democracy as the final form of human government." Fukuyamas thesis consists of two main elements. Firstly, Fukuyama points out that since the beginning of the ordinal century democracy is the only intellectual expected system of government. Secondly, Fukuyama sees history as consisting of tension between two classes the one(a) in control and the one being controlled. Ultimatel...

legal case Essay -- essays research papers

inscriptionINTRODUCTIONYou have asked me to determine whether our node Diana Lewis committed unaccredited formula of law by providing her services. I have done research on statutes and cases. This catalogue will address the issue of this case, California Bars claim, and Ms. Lewiss attainable defense.STATEMENT OF FACTSIn May 2001, Diana Lewis earned her Associate of Art score and Paralegal Certificate from City College of San Francisco. In June 2001, Ms. Lewis opened her commerce to prep be legal paperwork for clients involved in uncontested divorces. She advertises her business in the Daily daybook and the Recorder. She charges no more than $75 for the complete package of paperwork and has aid 25 clients to date.Because Ms. Lewiss clients be not familiar with the legal terminology and some of them are illiterate, Ms. Lewis is compelled to ask questions and hold conferences with them. The day before the clients court hearing, Ms. Lewis meets with her client to discuss what he or she can expect during the hearing. Ms. Lewis does not ensue the client to the hearing.Diana Lewis has been charged by the California Bar with unofficial practice of law. ISSUEDid Ms. Lewis practice law when she provided such legal document service? brief ANSWERNo. California Bar could make a case that Ms. Lewis gave legal advice. But when she sustained her clients with uncontested divorce document, she did not give specific advice by which the clients particular legal rights were secured. She simply helped go out instructions on preparing the general legal forms at her clients request. Such sales and services are legitimate.DISCUSSIONIn Cal double-decker & Prof Code 6125, no someone shall practice law in California unless the person is an active member of the State Bar.Diana Lewis venereal infection not have law school education and did not pass California Bar Exams. She is not an active member of the State Bar. So she cannot practice law in California. The issue is whether she practiced law.In Cal Bus & Prof Code 6400, a legal document assistant may not provide both kind of advice, explanation, opinion, or recommendation to a consumer about possible legal rights, remedies, defenses... ... of law. In addition it violates Unfair Competition Law at the same time. Walter Moore is equal to Ms. Lewis in that they are some(prenominal) non-lawyers and provided legal document service. Also, they both advertised locally. Walter Moore listed in the phone book under Legal Aid directory. Here we occupy more expands about Ms. Lewiss advertisement such as the wordings and under what section it was printed. CONCLUSIONCalifornia code prohibits Diana Lewis to practice law. The issue is whether Ms. Lewis in truth practiced law. According to the statute and court opinion, the key tear is whether a non-lawyer provides advice or prepares legal instruments that would secure the partys legal rights. From the fats at hand, I do not see Diana Lewis have provide d individual client with specific advice that would affect his or her legal rights. In fact, in the case of uncontested divorce, such practice of legal advice is not usually needed. Some detail information on Ms. Lewiss advertisement and her discussion with clients will be needed to help with her defense. legal case Essay -- essays research papersMEMORANDUMINTRODUCTIONYou have asked me to determine whether our client Diana Lewis committed unauthorized practice of law by providing her services. I have done research on statutes and cases. This memorandum will address the issue of this case, California Bars claim, and Ms. Lewiss possible defense.STATEMENT OF FACTSIn May 2001, Diana Lewis earned her Associate of Art degree and Paralegal Certificate from City College of San Francisco. In June 2001, Ms. Lewis opened her business to prepare legal paperwork for clients involved in uncontested divorces. She advertises her business in the Daily Journal and the Recorder. She ch arges no more than $75 for the complete package of paperwork and has assisted 25 clients to date.Because Ms. Lewiss clients are not familiar with the legal terminology and some of them are illiterate, Ms. Lewis is compelled to ask questions and hold conferences with them. The day before the clients court hearing, Ms. Lewis meets with her client to discuss what he or she can expect during the hearing. Ms. Lewis does not accompany the client to the hearing.Diana Lewis has been charged by the California Bar with unauthorized practice of law. ISSUEDid Ms. Lewis practice law when she provided such legal document service?BRIEF ANSWERNo. California Bar could make a case that Ms. Lewis gave legal advice. But when she helped her clients with uncontested divorce document, she did not give specific advice by which the clients particular legal rights were secured. She simply helped interpret instructions on preparing the general legal forms at her clients request. Such sales and services are le gitimate.DISCUSSIONIn Cal Bus & Prof Code 6125, no person shall practice law in California unless the person is an active member of the State Bar.Diana Lewis dose not have law school education and did not pass California Bar Exams. She is not an active member of the State Bar. So she cannot practice law in California. The issue is whether she practiced law.In Cal Bus & Prof Code 6400, a legal document assistant may not provide any kind of advice, explanation, opinion, or recommendation to a consumer about possible legal rights, remedies, defenses... ... of law. In addition it violates Unfair Competition Law at the same time. Walter Moore is similar to Ms. Lewis in that they are both non-lawyers and provided legal document service. Also, they both advertised locally. Walter Moore listed in the phone book under Legal Aid directory. Here we need more details about Ms. Lewiss advertisement such as the wordings and under what section it was printed. CONCLUSIONCalifornia code prohibits Diana Lewis to practice law. The issue is whether Ms. Lewis actually practiced law. According to the statute and court opinion, the key point is whether a non-lawyer provides advice or prepares legal instruments that would secure the partys legal rights. From the fats at hand, I do not see Diana Lewis have provided individual client with specific advice that would affect his or her legal rights. In fact, in the case of uncontested divorce, such practice of legal advice is not usually needed. Some detail information on Ms. Lewiss advertisement and her discussion with clients will be needed to help with her defense.

Hurtful Love and Foolish Hope in Death of a Salesman Essay -- Death S

 Hurtful Love and Foolish Hope in conclusion of a Salesman      A father is an important role model in a young mans life perhaps the most important. A father mustiness guide his children, support them, teach them, and most importantly, love them. In the play Death of a Salesman, written by Arthur Miller, an aging salesman of 63, Willy Loman worked any his life for his children. bright and especially Biff, his two sons, where his pride and joy and his reason for living. Willy tried as hard as he possibly could to provide for them, to support them, to mold them into work force only if he failed. Willys greatest fault, perhaps, was his inability to see his sons for what they really were. Biff and Happy were never destined to be great men, yet Willy always believed in them. Although Willys hope is touching, it is also foolish. Willy Lomans blind faith in his son Biffs abilities destroyed Biffs sense of moderation and modesty. Despite Biffs obvious incompete nce and mediocrity, Willy vehemently refused to accept his sons tribulation to make the grade. Biff stole himself out of every good job since high school (131), yet Willy cannot accept that his son is a dime a dozen and declares that Biff is merely failing to spite him. I want you to know...where ever you go, that you cut down your life for spite (129). By blaming Biff for his problems, Willy clears himself of all guilt. Willy cannot realize that it was his ineptitude as a father that created Biffs character. If Willy was a little more aware of his sons situation, his true character, Biff may have realized kind of that he was not a leader of men. When asked whose fault it is that he never accomplished anything, Biff answered ...I never got anywher... ...r looked up to was nothing more than a keep in line, and Biff lost all reason to his life. Everything that Willy taught him was destroyed on that one night. Every rule, every piece of advice, was nulled by that one act of adulter y. Willy Loman tried his outflank to be a good father. He encouraged his sons, he worked all his life for them, and he tried to help them in any way he could. The only problem was, although his heart was there, Willy just wasnt a good father. Willy did his best to raise his sons, but tragically, the more he tried, the worse they became. Ultimately, Willy failed as a father, but he did try his best. He loved his children, in some cases, too much. He loved them blindly, and never once questioned their greatness. Although love like that is touching, it also harmful. Willys delusions of wideness for his sons hurt them more than it helped them.  

African American Women in Early Film Essay -- Hollywood Movies Film Bl

African American Women in Early FilmIn early claim many African American actresses portrayed roles as mammies, slaves, seductresses, and maids. These roles suppressed them not allowing them to show their true talents. Although they had to take on these degrading roles, they still performed with self-regard, elegance, grace and style. They paved the way for many actresses to follow both blacks and whites. These women showed the film industry that they were more than slaves, mammies, and maids. These bewitching actresses showed the film industry that they are able to hold escape parts and even carry the whole cast if study be. Phenomenal actresses such as Hattie McDaniels, Pearl Bailey, Ethel Waters, Nina Mae McKinney, and Dorothy Dandridge, to name a few, are African-American stars who paved the way for so many African-American actresses today disrespect the hardships that they were faced with. These women displayed beauty, intellect and talent, which allowed the stars that follo wed that they do not have to just settle for stereotypical roles. In early film there was much propaganda and even today, which lead to these demeaning roles that they had to betray, Professor Carol Penney of Yale-New Haven writes, Film is one of the most influential means of communication and a powerful medium of propaganda. Race and theatrical is central to the study of the black film actor, since the major studios reflected and reinforced the racism of their times. The depiction of blacks in Hollywood movies reinforced many of the prejudices of the white majority preferably than objective reality, limiting black actors to stereotypical roles (1).Hattie McDaniels, a trailblazer amongst African-American film, acquired many firsts for African-American actors. McDaniels was the first African-American to sing on the radio, first to welcome an Oscar for best supporting actress in Gone with the Wind. She was also the first African-American to star in a sitcom in 1951 that featured an African-American actress in the title role (Pax 1). McDaniels appeared in more than three hundred films during the twenties and thirties. Her career was built on the Mammy image, a role she played with dignity (Smith 7). She received much flack from the blacks because of the roles she played in film and on radio. scurrilouss felt that she was degrading the race but her reply was to these views were... ...reen and feel that they are beautiful too. Work CitedThe African-American Almanac, 1997. Detroit Gale Research, 1997.Encyclopedia of World Biography. Vol. 10&16. Detroit Gale Research, 1987.Ethel Waters. Online. 10 butt against 2005. Available www.http//www.redhot jazz.com/waters.html.Honoring Black History Month. Pax Stars. Online. 10 March 2005. Available www.http//www.pax.tv/bios/one-bio.cfm/hattie-mcdaniel. Nina Mae McKinney. South Carolina African American History Online. Online. 11 March 2005. Available www.http//www.scafam-hist.org/aahc/.Pearl Bailey. Black History Virg inia Profiles. Online. 13 March 2005. Available www.http//www.gatewayva.com/pages/bhistory/1996/bailey.shtml.Penney, Carol. Black Actors inamerican Cinema. Yale-New Haven Teachers Institute. Online. 12 March 2000. Available www.http//www.yale.edu/ynhti/cirriculm/units.Pioneer black actress Dorothy Dandridge has a famous cast of modern-day admirers. Online. 12 March 2005. Available www.http//ohio.com/bj/fun/tv/0299/002827htm.