U3 Research Project Coursework Example | Topics and Well Written Essays - 250 words

U3 Research Project - Coursework Example On the other hand, an Organizational Unit (OU) is also a container object. Its function is to arrange other objects in a way that supports the user’s administrative purposes. An OU organizes objects into a logical hierarchy, making it easier to find and manage. It is used when the delegation of specific administrative roles is needed. Its advantage is that it simplifies the management of objects, enabling administrators to organize Active Directory to match their organization’s needs (Microsoft, 2014). A domain tree comprises several domains linked together in a hierarchical style. The first domain forms the foundation of the naming structure of subsequent domains. The purpose of a domain tree is to classify interrelated objects stored in various domains into hierarchies that match an organization’s needs. Domain trees are used when an organization wants to categorize interrelated domains for easier access. It is beneficial because subsequent child domains can be added to the parent domain. Domains within a tree have a hierarchical naming style in which the child domain name is added to the parent name (Simmons, 2001). On the other hand, a domain forest comprises several trees linked together by their root domains. It acts as the highest container in a specific Active Directory. Its function is to link several domains and domain trees to form an Active Directory. It is used when an organization wants to connect two or more domain trees, which do not share contiguous names. It is advantageous because information is only shared within one forest, increasing data security (Microsoft,

Art Gallery Essay Example for Free

Art Gallery Essay In completion of this assignment the art gallery that I chose to visit was Mark Gallery in Englewood New Jersey. When you walk up to the establishment there are floor to ceiling glass windows that allow you to see everything inside. Facing the gallery there were so many colors that enticed you to enter. The arrangements and art work was spaced out nicely not causing clutter. This allowed you to individually take in each piece on by itself. All of the pieces were very nice but the artist that caught my attention was Mr. Mark Oberndorf. Oberndorf was born in New York but is currently residing in Bergren County New Jersey. He is a contemporary realist painter. Since the age of 10 he has been interested in the visual arts. At an early age some of his beginning works were illustrating his school yearbook to painting murals on his elementary school building. From 1995 to present Oberndorf has had art in various group and solo exhibitions and galleries. Currently his work is currently represented by Mark Gallery of Englewood New Jersey and Westwood Gallery in Westwood New Jersey. I found several of his pieces interesting because they were so basic. Not meaning they did not have levels or dimensions but they put me in the mind of simpler times and relatable memories. His pieces display three dimensional effects on a two dimensional surface with natural lighting effects. All painting are created with oil on linen canvass. Such pieces as the â€Å"Wyckoff Train Station†, â€Å"Dairy Queen† and â€Å"Gas† all represent the Bergren County area and parts of New York prior to the gentrification phase. â€Å"Gas† depicts an old two pump station as you would see it in the 1970’s. The piece of the â€Å"Dairy Queen† shows the classic franchise that was shaped somewhat of a barn prior to the new modernized look you may see today. I can remember as a kid having one of these in our neighborhood. We frequently visited it for a Sunday cone after attending church. I could not wait to stand in line for my soft serve on a cone. Lastly the â€Å"Wyckoff Train Station† is truly a classic single standing building not so big on the side of the tracks. Much dated compared to the enormous train stations and subway stations you see in the big cities such as New York. Through viewing these pieces I would think this is his way of holding on to a piece of history, before all common landmarks that held tradition and memories were torn down. Prior to gentrification in many of our communities there were several sites or establishments that were a common thread to our community. Be it the mom and pop store on the corner to the old fashioned ice cream stand. Gentrification has erased these things with more modernized establishments that help to bring economic wealth for some but forces others out of the neighborhoods and communities that they have been a part of for quite some time.

MP3s Benefit both Consumers and Record Companies Essay -- Argumentati

You read the newest interview of your favorite band talking with Rolling Stone. In that interview, they are asked whom they are listening to these days. The answer is not what you expected. The rest of the interview is all about this new band that they are raving about. Who is this new band, and why do they seem so great? You quickly log onto your computer and start downloading a song from this mysterious band. The download completes, and the song is awesome! Now you know why this group is respected musically by the ones you respect in the business. All thanks to the incredible MP3! MP3 is a small compressed format that allows music to be downloaded quickly with very little sacrifice in the sound quality. Moving Picture Experts Group, Audio Layer III is what MP3 stands for. All this came about in the 1980's when a German Institute wanted to code music a different way. They did so and received a patent for the MP3. About 20 years later, there were many applications making MP3's an everyday thing. People around the world were downloading copyrighted music for free (Jones). In 1999, there were 60,000 MP3 websites and 6,000,000 people downloading a day (Knab). No one was concerned, but then Napster arrived (Jones). Napster will probably always be remembered as the MP3 software that allowed just about any song to be downloaded at any time by anyone who had an internet connection. The music industry was successful in changing Napster from a free source to a charging subscription. Others like Napster still exist because they have found ways of getting around all of the problems, but they are currently being pursued by the music industry in terms of shutting down. Record labels are upset because of the control they are losing. A... ...ranti, Marc & Guth Rob. "Downloadable-Music Wars Intensify." CNN.com 25 Mar. 1999. 5 Dec. 2002. . Jones, Christopher. "MP3 Overview." Hotwired. 27 Jul. 2000. 12 Dec. 2002. . Knab, Christopher. "MP3." Fourfront Media & Music. 1999. 7 Dec. 2002. . Lazarus, David. "Downloadable Music Ready to Rock." Wired News. 11 Sep. 1997. 7 Dec. 2002. . Petreley, Nick. "Opinion: How record companies could embrace Napster and maintain profits." CNN.com. 20 Mar. 2000. 19 Dec. 2002. . "The Future of Downloadable Music." Indian-Music.com. 5 Dec. 2002. . Â  

The Evasive Sonnet CXVI (116) Essay -- Sonnet 116 Essays

  Ã‚   In my survey of Shakespeare's Sonnets, I have found it difficult to sincerely regard any single sonnet as inferior.   However, many of the themes could be regarded as rather trite.   For example sonnet XCVII main idea is that with my love away I feel incomplete, sonnet XXIX says that only your love remembered makes life bearable, while sonnet XXXVIII makes the beloved the sole inspiration in the poet's life.  Ã‚   These themes recycled in love songs and Hallmark cards, hardly original now, would hardly have been any newer in Elizabethan England.  Ã‚   However the hackneyed themes of these sonnets is in a sense the source of their essence.   These emotions, oftentimes difficult to adequately articulate, are shared by all that have loved, been loved, lusted or been hurt in a relationship.   Still, it is certainly difficult to criticize Shakespeare's work as a whole.   One would only show his ignorance if he were to argue against Shakespeare's sophisticated style.      Ã‚  Ã‚  Ã‚  Ã‚   Far easier than finding inferior works from this cornucopia of verse would be to snatch and guard his more elaborate, brilliant works such as sonnet XVIII.   These lucky few need very little explanation for they speak for themselves.   Scholarly glosses, profound explanations, and critic's interpretations - needed in the more ambiguous sonnets - are not only unneeded in these sonnets but sometimes unwanted.   It is an insult to the intellect of the reader for a scholar to be as presumptuous with these jewels of verse to think that it needs someone asserting meaning ex cathedra.   They have their distinguished place because, after slow and careful reading, one may bask in meaning and beauty, contemplating the sonnets bearing on his life.   One does not need a critic to el... ...Linda Gregerson's explication of Sonnet 116.   http://www.the atlantic.com/unbound/poetry/soudings/shakespeare.htm. 8 I say that this is not a popular reading and not without error because I have not yet seen any scholarly work to confirm my reading of these lines.   In fact, I have seen much to contradict my assertion.   Helen Vendler notes that most readers, guided by the beginning of the sonnet, misinterpret it.   I agree with Vendler's assertion but not her reading (or other scholars for that matter), and hence I present my own.   9 Ingram and Redpath, 268. 10 Helen Vendler, The Art of Shakespeare's Sonnets (Cambridge, Massachusetts: Harvard University Press, 1997) 489. 11 Booth, 385. 12 Booth, as well as Ingram and Redpath seem to be of this mind.   13 Lawrence Ferlinghetti, A Coney Island of the Mind (New York: New Directions, 1958) 30.   

Health Care in United States Essay

The United States, as a leading developed country, is very attractive to many foreigners. Everyone dreams of coming to the United Sates to study or work. However, they are concerned about their health care while stay in the United States. The health care system in the United States is problematic. It is so extensive and complicated that it is almost impossible for the government to make everyone satisfied. Reformation of health care occurred many times in the history. President Bill Clinton tried to overhaul the health care system and failed. Before Clinton’s failure it had been Carter’s. Before Carter’s it had been Nixon’s. The health care system in the United States has several major problems. Among all of them, insurance policy is the core issue. The Unites States is the only developed country, except for South Korea, that does not provide healthcare for all of its citizens (Farrell). According to the research, there are still 50.7 million people uninsured, which is 16% of the United States population (about one in six people), or the combined population of 25 average-sized states, such as Oklahoma, Connecticut, Iowa, Mississippi, and Kansas (Parker-Pope). The main cause is that the price for health insurance is too high. Many people are not able to pay insurance premiums and over these years the situation has been getting worse and worse. During the past eight years, insurance premiums have nearly doubled, resulting in health insurance moving farther out of reach for millions (Farrell; Klein). Despite millions of people cannot afford medical insurance; the government do not have a solution. The government now only pays two kinds of insurance. Medicare is a program set up for senior citizens (65 or older). Most of them retire and do not have any income sources. Therefore the government offers them insurance. Medicaid is established for the disabled or those with low income. However, the criterion of qualifying low income is incomplete and farfetched. Those two programs were originally set for great purposes; now they are associated with many frauds. For example, federal authorities announced on May 2 they had arrested 107 health care providers, including doctors and nurses, in several cities and charged them with cheating Medicare out of $452 million (Matthews). Medicaid is just as bad, or worse. New York City has been a huge problem for Medicaid with one former official suggesting that 40% of NYC’s Medicaid payments are â€Å"questionable.† The New York Times reported that a Brooklyn dentist had filed 991 claims in one day (Matthews). These two kinds  of government support have many problems, and while there is benefit to those really in need, a major overhaul is needed. Generally, despite Medicare and Medicaid, there are two ways to get insured. One is employer-based which the employers pay premiums for employees. In that sense, employees do not have opportunity to choose their own health plan. The employers choose for their workers. Once one looses his or her job, the insurance plan automatically become invalid and one has to pay for his or her own premium. Due to this reason, many people are bonded to their current jobs. However, if one does not have a job or has a part-time job that the employers do not pay for premium because of shortage of working hours, one has to purchase his or her insurance plan. Individual plans can be quiet very expensive, especially for families. Statistics showed that Americans spend more than any other country in the world. In 2005, per capita, or per person spending on medical insurance was $6,697 (Klein). Medical insurance is so costly that it takes up ten percent of an average American’s annual income. The U.S. spends a higher percentage of its Gross Domestic Product (GDP) on healthcare than other industrialized countries. In 2003, it was 15%, versus an average of 8.6% in the OECD nations (the Organization for Economic Co-operation and Development, a group of major industrialized countries). Federal spending on healthcare in 2005 alone totaled $600 billion, a massive one-quarter of the federal budget. (Farrell). Although Americans spend so much they are still not receiving an equivalent amount of care. Approximately one-third (31%) of adults and a little more than one-half (54%) of children do not have a primary care doctor (Appendix A). Americans pay for advanced equipment in the hospital but only 30% of them report that they can access a doctor on the very day they need one, as opposed to 41% of Britons and 55% of Germans. A full 67% of Americans , more than in any other country, say it is difficult to get care on nights, weekends, or holidays and resort to the emergency room, where care is costlier and, if one’s injury is not grievous, less efficient (Klein). The waiting time is often too long and the treating time is too short. In the United States health care system, laws and regulations play essential roles within it. Supposedly, the PPACA (Patient Protection and Affordable Care Act) is going to lower the insurance premium and make health plans affordable, reduce overall health care costs by making services available to  the 32 million who currently can not afford insurance (Amadeo). Now, only 49% of adults are receiving recommended preventative care and screening tests according to guidelines for their age and sex (Farrell). On the one hand, increased coverage would enable more people to receive preventative care. However, on the other hand, increased coverage may move the cost up rapidly because many people will receive preventative care and testing who, fortunately, find out they didn’t have that critical illness. However, the CBO (Congressional Budget Office) found that additional testing, such as cancer screening and cholesterol tests, will lead to higher net medical spending (Amadeo). Therefore, if the expenditure is up, the tax must be raised to compensate the gap in between. Especially to those do not want to purchase insurance or are not qualified for Medicare or Medicaid, they would have nightmares. They will be assessed a tax of $95 (or 1% of income, whichever is higher) in 2014. It increases to $325 (or 2% of income) in 2015, and $695 (or 2.5% of income) in 2016 (Amadeo). Last but not least, the statistics conducted by Department of Health and Human Services demonstrates that National health-care spending per person will rise from $7421 in 2007 to estimated $13,100 in 2018 ( The Staff of The Washington Post)(Appendix B). The spending is almost doubled. The CBO also predicted that about four million people, 1.2% of population would end up paying more taxes to the government than paying their own insurance premium (Amadeo). As the health care gets more affordable, the pharmaceutical companies are going to give up enormous parts of their profit to make up the â€Å"doughnut hole† (a gap in prescription drug coverage) which is included in Medicare part D. Approximately extra $84.8 billion would be paid to fix the doughnut hole. Moreover, in 2013, medical-device manufacturers and importers will pay a 2.3% excise tax. Indoor tanning services already pay a 10% excise tax (Amadeo). This could discourage those businesses from hiring new employees, which is going to be a major problem in the future. Abortion is legal in the United States and there is a heated debate about it. An estimated 48 million babies have been aborted since 1973. Approximately 24% of all U.S. pregnancies end in abortion (Abortion Statistics). Abortion contradicts to God’s word and it is immoral. In Job 10:8-12, â€Å"Your hands shaped me and made me. Will you now turn and destroy me? Remember that you molded me like clay. Will you now turn me to dust again? Did you not pour me out like milk †¦Ã‚  and knit me together with bones and sinews? You gave me life and showed me kindness, and in your providence watched over my spirit†. God clearly stated that abortion is not pleasing in His eyes. God also included in His great ten commandments: â€Å"You shall not murder.† Abortion is definitely considered murder. Psalm 127:3, â€Å"Sons are a heritage from the LORD, children a reward from him†, suggests that children are gift from God. God also indicates that kids are wonderful in Psalm 139:13-16. â€Å"For you created my inmost being; you knit me together in my mother’s womb. I praise you because I am fearfully and wonderfully made; your works are wonderful, I know that fully well. My frame was not hidden from you when I was made in the secret place. When I was woven together in the depths of the earth, your eyes saw my unformed body. All the days ordained for me were written in your book before one of them came to be.† Therefore, abortion is inappropriate in the current health care law. In PPACA, the United States government is paying for birth control in order to reduce the abortion rate. Contraception is anti-life and unnatural; it also carries high risks. Contraception prevents people who might benefit humanity from being born (Summary of the arguments against contraception). Contraception is a personal choice that the government should not use taxpayers’ money to co-pay the prices. In this way, PPACA, the health plan passes by President Obama is unconstitutional. The government does not have the right to force citizens to buy insurance or to share the cost of birth control. To put all into a nutshell, the health care system in United States now is very costly and needs some major changes in regards to insurance policies and the budgets. Currently, the United States owes 16 trillion dollars to other countries, mostly to China. Health care is a major component for it. There are millions of people do not have primary care doctors and do not receive any treatment when sick. God bless the United States so much that most people do not need to worry about food or shelters. However, the government still needs to pay close attention to those do not have any form of health care. Instead of only trying to make to the goal with a band-aid approach, the government actually needs to think through the original problems with the system.

Moby Dick Essay

Moby Dick Essay In every great literary work there is a symbolic element that makes the authors message more detectable to his readers. In Herman Melvilles Moby Dick there is the idea of the counterpane of humanity. This theme is mixed in throughout the story as a symbol of the worldÐ ¢s multiculturalism. Melville shows that the world is a counterpane of diverse cultures, races, and environments, in which we are always connected by our humanity. Melville also uses the open sea as a metaphor for the world and mankind. The most obvious counterpane in Moby Dick is the crew of the Pequod. Every shipmate on board the Pequod brought some sort of different culture and background to the ship. The three colored harpooners and the three white mates each had their own beliefs about life. The other members of the crew such as Fedallah, Pip, Ahab, and Ishamael made up one big mixture of cultures. It is interesting how the white crew on the ship who in their wildest dreams never thought of putting their lives in the hands of colored people. Yet every one of them was completely dependent on one or all of the colored members of the crew. Without the harpooners the Pequod would have perished long before they even spotted Moby Dick. One great example of interdependency within the shipmates is the relationship between Ishmael and Queequeg. Ishmael was one of the only crew members to accept other beliefs. His friendship with Queequeg paints the perfect picture of a man to live lovingly and acceptingly with his peers. This dependency is how the Pequod performed. Every member, although each individual was different from the next, did their part in trying to assure the success of the Pequod. The interdependency on the ship transfers over to show the counterpane of humanity. Queequeg is the signally the most diverse character in Moby Dick. This dark complexioned harpooneer (Melville, 33) represents a vast number of cultures all at once. He introduced to the reader as the man Ishmael will have to bunk with for the night. Their first encounter, Queequeg is portrayed as a savage and Ð £cannibal (Melville, 37) who seems ready and willing to attack Ishmael. Ð £ . . . but what to make of this head-peddling purple rascal . . . his chest and arms . . . parts of him were checkered with the same squares as his face; his back too, was all over the same dark squares; still more, his very legs were marked . . . It was now quite plain that he must be some abominable savage or other . . . I quaked to think of it. A peddler of heads too perhaps the heads of his own brothers. He might take a fancy to mine heavens! Look at that tomahawk (Melville, 40-41)., Queequeg is immediately portrayed as someone to despair. However, this impression is quickly passed on by the qu ick shift from Queequeg the savage, to Queequeg the noble and trustworthy friend. In the chapter entitled Biographical (70), the reader is alarmed to find that Queequeg is actually a prince, His father . . . a High Chief, a King; his uncle a High Priest; and on the maternal side he boasted aunts who were the wives of unconquerable warriors. There was excellent blood in his veins royal stuff; though sadly vitiated, I fear, by the cannibal propensity he nourished in his untutored youth (Melville, 70). Still there is another culture that is rolled up into Queequeg, it is that of the Islamic religion. Queequeg follows the Ramadan but only while worshipping an African idol. One of the most precious belongings to Queequeg is his little Congo baby (Melville, 41) named Yojo. When he is following his rituals for hours on end, he escapes to another world. His trance is scary to those who donÐ ¢t understand what he is about. Ishmael thought Queequeg had died before learning of this special fasting period, . . . there squatted Queequeg, as if he had been screwed down to the floor (Melville, 97). All of these opinions formed are based on the physical looks of his character. Despite the fact that at first glance anyone would be terrified of this cannibal, he is one of the most outgoing and positive people in the book. The poor fellow, whom Queequeg had handled so roughly, was swept overboard; all hands were in a panic; Queequeg, stripped to the waist, darted from the side with a long living arc of a leap. For three minutes or more he was seen swimming . . . The poor bumpkin was restored. All hands voted Queequeg a noble trump (Melville, 75-76). His interesting character builds a fascinating outlook of human emotions. His characteristics are unique to him and yet common to humanity. The Pequod meets multiple ships in the story each of them represent a different culture of people. For instance, the Town Ho came straight out of Nantucket, the Jungfrau was a ship from Germany, while the Rosebud was from France. Not only were the different ships unique in style and accents, but their views on life and whaling were greatly diverse as well. A great deal of irony was also in the meetings of the Pequod with the other ships. . . . another homeward bound whaleman, the Town Ho, was encountered. She was manned almost wholly by Polynesians (Melville, 239). The ship that came from America was not even being manned by Americans. The Pequod also encounters . . . another ship, most miserably misnamed the Delight (Melville, 504). The Delight had seen a tragic whaling attempt just a day prior and was now taking care of the last of the victims. Ð £Ã ¢I bury, but one of five stout men, who were alive only yesterday; but were dead ere night. Only that one I bury; the rest were bur ied before they died; you sail upon their tomb (Melville, 504 505). This irony reflects mankind. The multiculturalism of all the different ships proved that we as humans are all connected. Melvilles knowledge on the nature of mankind has offered examples on three different scales. From the grand sea, to the microcosm of a single human being, he tells the epic story of a whale hunt, while artistically incorporating a countless number of subtleties that describe both the beauty and darkness of the counterpane of life. You can order a custom essay, term paper, research paper, thesis or dissertation on Moby Dick topics at our professional custom essay writing service which provides students with custom papers written by highly qualified academic writers. High quality and no plagiarism guarantee! Get professional essay writing help at an affordable cost.

Real, Not Monetary Shocks Drive Business Cycles †Business Essay

Real, Not Monetary Shocks Drive Business Cycles – Business Essay Free Online Research Papers Real, Not Monetary Shocks Drive Business Cycles Business Essay A business, or trade cycle, is the term used to describe the tendency for recurring fluctuations in economic activity characterized by alternating periods of upward and downward movements in the aggregate level of output and employment, relative to their long-term trends. The initial concept of business cycles is generally attributed to French physician Clement Juglar, who described the economic cycle in 1860 as ‘a recurring, if not necessarily uniform pattern.’ Since that time, a four-phase scheme has been used to describe fluctuations in business cycles: an upturn ends at an upper turning point (boom), followed by a downturn which leads to a lower turning point (recession) which is, in turn, followed by the next upturn (Fig. 1.1). Theories on the causes of business cycles have considered an array of possible factors yet neither theoretical nor empirical work has conclusively delineated the underlying causes for fluctuations. I intend to expound the theories and assess relevant evidence on behalf of both real and monetary shocks. I turn, I shall also comment on how the two schools of thought are implicitly tied to political po licy and finally offer an answer as to which really drives business cycles. Mainstream macroeconomists view recessions as a case of market failure. There are workers who would like to work but cannot because no one is willing to hire them. Their lack of income creates consumers who would like to spend but who cannot because they do not have the funds to do so. As a result, there are businesses that would like to produce and hire more workers, but cannot because there is not enough demand for final output. The circle is complete, and there is something not working properly. The traditional explanation for this situation was a failure of wages and prices to adjust quickly enough. A change in spending drives the economy away from equilibrium, but sticky wages and/or prices prevent rapid adjustment to a new equilibrium. Real-business cycle theorists reject the above explanation based on the assumption that markets always clear. Hence wages and prices should not be sticky, but should adjust quickly. In essence, the central idea is that technical change is the most important kind of economic disturbance behind business fluctuations. This approach builds on the ideas of Joseph Schumpeter who held that capitalism is characterised by waves of â€Å"creative destruction† in which the continuous introduction of new technologies constantly drives existing firms our of business. When there is a temporary improvement in technology, this temporarily raises productivity. It follows that the real wage is also temporarily higher given that workers are paid their marginal product, which is equal to the real wage. Workers respond to the temporarily high wage rate by deciding to work harder while the real wage is high, and as a consequence, output rises. Suppose that in some weeks you get paid $15 per hour, and in other weeks you only get paid $5 per hour. If one could choose how many hours a week to work, what kind of pattern would be expected? Though some people may choose to work the same in all weeks, most people would work longer in the higher-pay weeks and less in the lower-pay weeks. They will take their leisure in the lower-pay periods, and move their work to the higher pay periods. The real-business cycle suggests that this same pattern holds over longer periods. When there is a technological shock raising real wage, people will work more causing output to surge, and when there is a technological shock lowering real wage, people will withdraw from work, causing output to fall. This pattern is what we observe as booms and recessions. Clearly, real business cycle theory depends heavily on the ability of workers to alter the amount of labour and leisure time they choose at each point in time. This is called the inter-te mporal substitution of labour, and it is one of the most controversial assumptions of real business cycles. Many economists find the real-business cycle theory totally unbelievable. No one can observe the technological shocks that are at the heart of this explanation, and it strikes many as simply ridiculous to argue that the unemployment during a recession is voluntary. However, the evidence for the argument that real shocks drive business cycles may be found in cases of natural and artificial disasters. Natural disasters such as the tsunami in Asia and artificial disasters such as the terrorists attacks on September 11th 2001. The evidence that September 11th caused an immediate and continued downturn in the economy of the United States (and as a direct result the strength of the dollar) is undeniable. Likewise the economic effects on the affected areas in Asia are possibly even more extreme. Entire villages and towns have been entirely destroyed and consequently the economy is defunct. Herein lies the problem of talking about business cycles in general. It is clear from the exampl es above that a business cycle in the developed world means a very different thing to those countries in the early stages of economic advancement. However, both cases support the argument that real shocks are the primary force behind business cycles. In terms of policy implications real business cycle theorists are inclined to deny the powers of governments, through monetary and fiscal policy, to control the rate of economic growth. In contrast those who believe that monetary shocks drive business cycles argue that it is indeed the government (or central bank) policies that can control the rate of growth. The target of monetary policy may be the achievement of a desired level or rate of growth in real activity, the price level, the exchange rate, or the balance of payments. In both the UK and the US policies have included setting the interest rate charged by the central bank, sales or purchases of securities to control the money supply, and changes in the required reserve ratios of banks and other financial institutions. Monetarism was drafted as a ‘revolution’ against the then orthodox Keynesian theory. In the early and mid-1960s, monetarism and Keynesian economics were regarded as distinct and probably irreconcilable explanations for business cycles. Monetarists distinguish themselves from other economists by stressing the existence of a stable money-demand function. One implication is that the best way to stabilise the economy is to stabilise the rate of growth of the money supply at a low level. Assuming that output is determined exogenously (by the microeconomic supply decisions of households and businesses) so that Q can be taken as given, then the definition of velocity implies: P = (M .V)/Q If V is fairly stable, and Q is exogenous, the equation implies that changes in M translate into changes in the price level. Thus, monetarists stress that changes in M are the key to controlling the price level. They hold that money should be allowed to rise at a constant rate per year. Thus, controlling inflation becomes merely a problem of controlling M. Monetarism is much more sceptical than Keynesian economics with regard to the need for, and efficacy of, stabilization policies. In order not to distort price signals, the government should make the supply of money stable and predictable. An independent central bank is helpful in achieving this goal. Friedman and Schwartz brought money back to the fore with the publication of their Monetary History of the U.S (1963). In this influential book, Friedman and Schwartz show that money and real aggregate production move together closely over the business cycle. Laidler’s model shows that the interplay between a Friedmanian accelerationist Phillips curve and the quantity equation is sufficient to generate business cycles in R. Frisch’s sense. According to Friedman and Schwartz much the same mechanisms potentially give rise to business cycles in the open economy with international trade in commodities and securities. They also posit that incorporating structural unemployment into the monetarist model does not affect the main results. The supply side determines average aggregate output and the interplay between supply and demand determines the fluctuations around this average level. The theoretical positions of these two schools of thought converged to a widely shared macroeconomic consensus in the early 1970s that the average output level is determined by supply-side factors, while the demand side is an important determinant of the fluctuations of aggregate production about the average level. The issue of whether monetary policy can be used to control business cycles is at the heart of the economic debate with regard to the European Monetary Union (EMU). Many believe that Gordon Brown’s view that Britain would be adversely affected economically by joining the Euro is the single largest factor as to why Britain remains a sovereign state. The argument revolves around the fact that monetary policy, if it is to have a controlling effect on an economy, is most effective when it is used to counteract localised shocks. It follows then that a single monetary policy for all EMU nations (with well-documented fundamental differences in the foundations of their respective economic status) would be less effective than implementing one specific to the UK. In conclusion, and I think most modern macroeconomists would agree, that business cycles are clearly influenced by both real and monetary shocks. As I have shown, real shocks, can offer a more identifiable force behind business cycles and yet it could simultaneously be argued that the government’s monetary policy is the more constant, driving, factor. I believe that the government should take an active role in moderating the business cycle through stabilization policies. This is because, as research has shown, short-term business cycle fluctuations may have long-term effects on the economy. The persistence of long-term unemployment in European economies is a good example of how short-term fluctuations in output and employment can create serious long-term problems for the economy. I am inclined to agree with Boehm who states ‘there are both endogenous and exogenous causes of cycles and concludes that, while each cycle is distinct, there are also common elements to all b usiness cycles.’ The implication is that any theory suggesting random elements as the main source of cycles is suspect. Since new classical theory postulates that cycles are caused by random monetary shocks and real business cycle theory places blame on technology shocks, both theories fail by Boehms criteria. Boehm concludes that an eclectic theory of the cycle is necessary and that continual monitoring is needed for stabilisation purposes. Bibliography The American Business Cycle, R. J. Gordon, 1986 Macroeconomics in the Global Economy, Sachs-Lauren, 1993 Business Cycle Indicators, Karl Heinrich Oppenlander, 2001 Cause and Control of the Business Cycle, E.C. Harwood, 1975 Business Cycles, James Arthur Etey, 1992 The Economics of Seasonal Cycles, Miron, 1998 The Oxford Dictionary of Economics, 2004 UK Monetary Policy in the Modern Economy, A. T. Milner, 2002 Research Papers on Real, Not Monetary Shocks Drive Business Cycles - Business EssayResearch Process Part OneTwilight of the UAWOpen Architechture a white paperThe Effects of Illegal ImmigrationBionic Assembly System: A New Concept of SelfPETSTEL analysis of IndiaIncorporating Risk and Uncertainty Factor in CapitalAssess the importance of Nationalism 1815-1850 EuropeMarketing of Lifeboy Soap A Unilever ProductDefinition of Export Quotas