Economic Growth - Solow Growth Model and Beyond Essay

Economic Growth - Solow Growth Model and Beyond - Essay Example At the core of this model, it is a neoclassical aggregate production function that in most cases is similar to Cobb – Douglas model and this makes it possible for this model to be in contact with microeconomics. This model was established by Robert Solow and Trevor Swan in the year 1956 (Dimand and Spencer, 2008). Dimand and Spencer (2008) say that the version of Solow’s Growth model where savings are chosen optimally by utility maximization of the households is known as the Neoclassical Growth Model. The neoclassical model was an extension of Harrod – Domar model that was developed in 1946. It superseded Harrod – Domar model due to the characteristic mathematical attractiveness. In that sense, the model was a convenient start point for various extensions (Hendrik and Lewer, 2015). David Cass developed a solution for the growth model in 1965 with technological change and the growth in population (Jones, 1997). Jones (1997) observed that Solow and Swan did an extension of Harrod - Domar model, first, by the addition of labor as a factor of production. Secondly, they ensured that the capital – labor ratios were not in a fixed position like in Harrod–Domar model’s case. In a study carried out by Jones he recognized the modification that provided for a continual increase in capital intensity which could be distinguished from progress in technology (Jones, 1997). In this sense, they independently simplified the growth model. Solow’s model fitted the economic growth data that was available with some level of success. In the present day, his model is used by economists in the estimation of the separate effects on the economic growth of capital, labor as well as the technological change. The previous models that include the closed economy a nd small open economy models give a static observation of the economy at a given point in time. The Solow growth model allows us a dynamic view of how savings affects the economy over time. The

Locus of Control Essay Example for Free

Locus of Control Essay After completing and evaluating my responses to the Locus of Control Assessment, my result was that I have an internal locus of control. An internal locus of control is when a person believes that they are generally in control of the events that affect their life. In my opinion, the assessment is right, I believe I control most of the events that happen in my life. Now, on the other end an external locus of control is when a person believes that they generally do not have control of the events that affect their life (Myers, 2012, p. 1). The two reliable sources I found that provided information on Locus of Control were www. ncrel. org and www. psych. uncc. edu. After conducting some research I have determined that there are positive and negative outcomes for both internal and external locus of control. The important thing is to keep a balance between them. Some positive internal locus of control situations are when you study hard and get an A in your test or when you enter a contest and win. In these situations you controlled the event in your life. The negative aspect of an internal locus of control is that in some cases you can’t control the events that affect your life. For example being diagnosed with colon cancer or having surgery to remove your intestine. In these situations are person with an internal locus of control may feel hopeless and blame them selves for not preventing it. When it comes to an external locus of control the positive aspect of it is that when situations arise that person will most likely attribute it to something else. For example, they would say it was luck if they won the lottery or the teacher was in a good mood if they got a C in their math class. In negative cases they will blame others for the outcome because they believe they don’t have any control over the events that happened in their life. An example would be if they don’t do their homework because their mom forgot to buy paper or if they have an accident and rear end the person in front of them and blame the other driver for stopping abruptly. In my opinion, it is better to have an internal locus of control. The reason why I believe this is because in most cases we have control over certain events that happen in our life. Having an external locus of control would give the person no sense of responsibility for their actions since they feel they do not have control over it. A person with an internal locus of control is more responsible, successful, easily motivated and always looking for improvement within them. A person with an external locus of control is less responsible, blames everyone else for their failures, is less motivated and success is something they feel will happen if others achieve it for them. Depending on the situation or the life event these two have to be balanced. If you’re a person with an internal locus of control like me and we experience a situation that is out of our hands we have to accept that and understand that not everything in life can be controlled. Some things are going to happen no matter what we do. In cases like this is when it’s good to have an external locus of control because for some people not being in control all the time and experiencing a situation that is out of their hands can be damaging for their self-esteem. When an event arises we should be able to logically look at the situation and analyze if there was anything we could have done different to solve the problem or avoided it and evaluate the decisions we made that concluded with the end result. Once you analyze the situation you can determine if changing the steps you took would have changed the end result. If it wouldn’t have changed the out come then it was out of your hands and you should see it as an external locus instead of an internal locus.

Essay --

The Introduction --------------------------------------------------------------------- (1) The definition of tourism and the tourists ----------------------------------------- (1) The reasons that make the tourists come to the UAE-----------------------------(1,2) The advantages of tourism -----------------------------------------------------------(2) The negative impact of tourism -----------------------------------------------------(2,3) The Comparison between Dubai and other countries according to GDP Growth : --------------------------------------------(3) The Conclusion ------------------------------------------------------------------------(4) The references list ---------------------------------------------------------------------(4) Among ages the life in the UAE has been changed from all the aspects , It becomes sophisticated in a huge way . In the construction field the UAE become a competitor to the advanced countries, it also make great achievements in the entertainment field .All of that make tourism more active in the UAE . Tourism become in the UAE as a big business , it considered as the one of the largest industries in the UAE , it rises the economic income with a high percentages . In this report I will write about the definition of tourism and the tourists , the reasons that make the tourists from each corner of the globe come to the UAE , the effect of tourism in the UAE and finally Comparison between Dubai and other countries according to GDP* Growth . The definition of tourism and the tourists : Tourism is to travel from one place to another mainly for recreational or leisure purposes and the companies in the receiver country will provide all the s... ...rica Region . Arabia 2000 .(P-1) . Dubai has strong and dynamic tourism sector .(2010).Arabia 2000.(P-1). IMF World Economic Outlook ,Econstates, Ministry of Economy .Retrieved December4 , 2011, from : http://www.google.ae/search?q=dubai-economy_clip_image004 Mourtoiza . (2008) .Positive impact of tourism in Dubai . Retrieved December 2,2011, from : http://www.oppapers.com/essays/Impact-Tourism-Dubai/158196 The disadvantages of the tourism .(2010) . Retrieved December2 , 2011, from : http://wiki.answers.com/Q/what arethe disadvantages of tourism Tourism . (2008) . Retrieved December2 , 2011 , from : http://sidestore.com UAE travel and tourism sector emerges as one of key contributes to GDP. (2011). Arabia 2000 .(P-1). United Arab Emirates Archeologicalsites . (2005) . Retrieved December 2 , 2011, from: http://www.uaeinteract.com/culture/default.asp Essay -- The Introduction --------------------------------------------------------------------- (1) The definition of tourism and the tourists ----------------------------------------- (1) The reasons that make the tourists come to the UAE-----------------------------(1,2) The advantages of tourism -----------------------------------------------------------(2) The negative impact of tourism -----------------------------------------------------(2,3) The Comparison between Dubai and other countries according to GDP Growth : --------------------------------------------(3) The Conclusion ------------------------------------------------------------------------(4) The references list ---------------------------------------------------------------------(4) Among ages the life in the UAE has been changed from all the aspects , It becomes sophisticated in a huge way . In the construction field the UAE become a competitor to the advanced countries, it also make great achievements in the entertainment field .All of that make tourism more active in the UAE . Tourism become in the UAE as a big business , it considered as the one of the largest industries in the UAE , it rises the economic income with a high percentages . In this report I will write about the definition of tourism and the tourists , the reasons that make the tourists from each corner of the globe come to the UAE , the effect of tourism in the UAE and finally Comparison between Dubai and other countries according to GDP* Growth . The definition of tourism and the tourists : Tourism is to travel from one place to another mainly for recreational or leisure purposes and the companies in the receiver country will provide all the s... ...rica Region . Arabia 2000 .(P-1) . Dubai has strong and dynamic tourism sector .(2010).Arabia 2000.(P-1). IMF World Economic Outlook ,Econstates, Ministry of Economy .Retrieved December4 , 2011, from : http://www.google.ae/search?q=dubai-economy_clip_image004 Mourtoiza . (2008) .Positive impact of tourism in Dubai . Retrieved December 2,2011, from : http://www.oppapers.com/essays/Impact-Tourism-Dubai/158196 The disadvantages of the tourism .(2010) . Retrieved December2 , 2011, from : http://wiki.answers.com/Q/what arethe disadvantages of tourism Tourism . (2008) . Retrieved December2 , 2011 , from : http://sidestore.com UAE travel and tourism sector emerges as one of key contributes to GDP. (2011). Arabia 2000 .(P-1). United Arab Emirates Archeologicalsites . (2005) . Retrieved December 2 , 2011, from: http://www.uaeinteract.com/culture/default.asp

Sports Play a Vital Role in Our Daily Life

We all like games and sports because they are essential for a healthy life. They play an important role in the development of our personality. Therefore they are given great importance almost all over the world. They are an important part of our education. This is the reason that every educational institute holds a sports week. Honorable principle! Sports and games are indication of life full of joys. They keep a person healthy and fit. Sports provide us a mean of physical exercise. My friends! Some special games like hockey, cricket and football not only make our body sound and healthy but also provide us a source of amusement and entertainment. As we have seen the excitements and rejoice of the World cup 2011. These games create cheerfulness not only in the players but also in the visitors. People gather around in thousands to see a match. They praise the players and clap for them. In this way they create an atmosphere of happiness, rejoicing, joyfulness and brotherhood. Respected Mam! Sports are also great moral value. They teach us team sprit. The p[layers play not to win personal fame but for the team. Sports and games teach us cooperation and discipline. Players obey the orders of their captain and the Umpire without any question. They have training in getting defeat with a good heart. Mam! These values are of much in every day life. Sports teach us to become good citizens. Hence I am compelled to say that sports play a vital role in our life.

A Woman Named Martha Josey Essay

Barrel racing is one of the rare sports developed initially for women. It is a â€Å"rodeo event in which a horse and the rider attempts to make a run as fast as possible and complete the given pattern† (Hubbard 1999). Any device that has a timer will be the judge for this kind of sport as it aims to record the level of speed. The timer â€Å"begins when the rider cross the start line and ends when the rider successfully executed the barrel pattern or when they cross the finish line†. Apparently, this kind of sport needs a great deal of strength, athletic ability, intelligence and drive; and therefore needs a lot of training. Barrel racing and horsemanship to be executed by women is somehow amazing. Some suggest that this kind of sport must only be played by men. It is said that the arena is more unhealthy and dangerous to women since they are apparently weaker than men physiologically. Martha Josey though is one of the few women who took the courage to try this kind of sport despite its high level of physical risks. Martha Josey is a world champion barrel racer and thus an inspiration to everyone in the sport of rodeo. She is now considered a â€Å"Cowgirl Hall of Famer after qualifying for the National Finals Rodeo on eight different horses in four consecutive decades from 1968 to 1998† (Hubbard 1999). Horses played a great contribution on Josey’s success. Some of her most famous horses that brought her to national finals and championship are â€Å"Cebe Reed, Sonny Bit O’Both and Orange Smash† (Diccus 2006). The horse â€Å"Cebe qualified Martha for her first National Finals Rodeo (NFR) in 1968 and 1969† (Diccus 2006). In later years when Martha teamed up with â€Å"the big bay gelding, Sonny Bit O’ Both, she was again qualified to the NFR four years in a row from 1978 to 1981† (Diccus 2006). Furthermore Sonny set an all time record in 1980 â€Å"as he was the only horse in history to win the AQHA and WPRA World Championship† (Diccus 2006). But due to Sonny’s oldness later on, Martha introduced Orange Smash who gave her â€Å"the NBHA Senior Championship and Reserved Open 1- D Championship in Augusta, Georgia† (Diccus 2006). Moreover, Orange Smash made Josey â€Å"qualified for the NFR in 1998 and received the Gold- Round Winner Buckle† (Diccus 2006). Due to the consistent win of Martha Josey, Orange Smash received the â€Å"1999 AQHA Best of America’s Horse Award†. What is unique about Martha Josey is her calmness in arena every time. Her exterior disguises with â€Å"her impeccable manicure, makeup and outfit†, Martha looks to be attending a simple luncheon instead of a dusty and dangerous arena (Hubbard 1999). Her external manifestations, her better looking horses and her calmness made her stood out in crowd for past decades. Her reputation as a horse racer is radiating every time she wins. Meanwhile, throughout her career, Martha Josey also helped others to build their careers who are interested in barrel racing. Josey also â€Å"has helped build barrel racing’s recognition as a professional rodeo event, and in part through her efforts, barrel racing is held in the same arena and with the same respect and spectator interest as any of the other rodeo events† (Broyles 2006, p. 13). At this point of time, Martha Josey continues to compete for World Championship and is often featured in â€Å"Equine magazine† (Broyles 2006, p. 12). In addition, she manage to produce educational videos and documentaries about rodeo, markets her own line of equine products, establishes various clinics throughout America and helps promote Purina products. Right now, â€Å"she and her husband also train and market the very best in barrel horses at their home ranch in Marshall, Texas. The ranch is also home to world-class competitions† (Broyles 2006, p. 12). Martha Josey is one of the successful women in history who prove that women can be equal than men in whatever areas. The criticisms she received just because she is a woman did not affected her at all. In fact, she approach those criticisms constructively. Moreover, she emphasizes the fact that in sport in order to be successful, one should undergo a lot of training and one should intelligently approach every challenges. She is now currently living in Texas constantly fulfilling her passion in rodeo sport through helping others to be a winner too just like her. Reference: Broyles, J. (2006). â€Å"Barrel Racing†. New York USA. The Rosen Publishing Group. Diccus, T. (2006). â€Å"Martha Josey- The Legend by Ron Atwood†. Tamara Hillman on line. Retrieved on June 4, 2009 from http://www. rodeocountry. org/tamarahillmanbuckinbroncos. htm Hubbard, C. (1999). â€Å"Smash Success Martha Josey eyes her fifth decade at the National Finals†. Active Interest Media, Inc. from the book of American Cowboy.