Keynesian and Real Business Cycle Theories Essay

Keynesian and Real Business Cycle Theories - Essay Example The effects of the declining trends in economy expand to all the areas such as production, income, consumption and employment level. Therefore it has been an important issue for the economists of all eras to study the main concerns such as the causes of the business cycle and the responsive behaviour needs to be adopted by the policy makers. Despite many explanations provided by the economists the questions remain still controversial. The main groups of economists involved in the controversy are the Keynesian economists and the classical economists. According to the classical point of view the business cycles are the result of disturbances in the production and spending. The classical economists do not find the need of government action in order to counter the recessions in the economy. On the other hand according to the Keynesian economists the wages and the prices do not respond very quickly to the disturbances in the production level and the employment level. Therefore the Governmental action is needed in order to deal with the situation. In the next section the essay will further elaborate the debate between the two school of thoughts. The Real Business cycle theory is the extended version of the classical theory, which sees business cycle as the result of the productivity shocks. According to the Real business cycle theory the reduction in the productivity at temporary basis creates a declining effect on the real wages, employment level and output and increase the interest rate and the prices. The RBC theory finds a positive relation ship between the business cycle and the level of real wage, prices and the overall productivity level of Labour. On the other hand the theory asserts a negative relation ship between the price level and the business cycle. The anti-cyclical trend of price level is taken as failure by many of the critics of the theory. Except the productivity shocks the increase in the Government purchase also increase the employment level, the interest rate and the price level. Hence the classical model undertake the study of both fiscal factors and the productivity shocks. Although the fiscal policy can play its part in order to improve employment level and output but the classical economists do not support the role of Government action and states that the invisible hand can adjust the market to the most efficient level. The role of money in the RBC is neutral. RBC theorists suggest that increasing or decreasing the nominal money supply can effect the price level but cannot effect the output level, employment and interest rate. The statement of money being neutral by the classical economists has been a failure. It has been proven several times that the role of money supply is not neutral and the money supply has been used in many countries as the policy measure for stabilising the economy. In the case of the extended classical theory i.e. misperceptions theory the sudden change in the in the money supply can affect the output. If the consumers can make rational forecasts regarding the macroeconomic variables the such as money supply the Government regulating bodies cannot surprise the consumers since the will make the judgement regarding the actions of the regulating body. Hence according to

MGMT 3010 Managing People For A Competitive Advantage Essay

MGMT 3010 Managing People For A Competitive Advantage - Essay Example Human resource personnel play a major role in the management of people throughout the organization. The human resource department is responsible for recruiting and selecting new employees. Once an employee is selected the job of the human resource professional does not end because HR personnel help in the development of employees by providing training and educational opportunities. The HR department also serves as a protection barrier due to the fact that their job involves ensuring companies complies with the pertinent labor laws of the state. Whenever there are problems with employees the human resource department steps in to take disciplinary actions. They also step in to solve any employee disputes among co-workers. The first line managers of organizations have the critical job of overseeing the work of a group of subordinate workers for which they are responsible. A supervisor is a person that is responsible for the day to day performance of a small group of people (Reh). The su pervisor is supposed to establish close relationships with his crew of workers in order to be able to motivate them to achieve higher levels of performance. The supervisor is responsible for solving the day to day problems employees face at work. The position of a supervisor is considered a lower level management position. Companies depend on the efforts of the supervisor to ensure workers are doing their job well. Whenever an employee has a concern he or she must first contact the supervisor about the problem since the supervisor is the immediate managerial resource the workers have available to them. The person that is responsible for ensuring all HR practices are implemented within the organization is the human resource manager. The human resource manager is considered a part of the upper management of an organization. The typical educational and work experience of a human resource manager includes an MBA in human resources and 5-10 years of professional experience. The job of th e human resource manager presents challenges to tactically handle the human resource tools and help the firm attract talented people (Buzzle). The HR resource manager must continually study the new labor laws in order to stay on top of any changes that may affect the employees. The person that is responsible for the entire performance of the employees within an organization is the general manager or the chief executive officer. The general manager has to ensure that the organization is operating at its maximum capacity. It is very important for general managers to keep everyone motivated. Moral problems among the staff can cause operating inefficiencies. General Managers depend on the efforts of other managers to get their job done. They must keep close communication with first line supervisors in order to know if there are any problems with the floor employees. Larger corporations have a chief executive officer in charge of the operation. Human resources are a very important functi on that can add a lot of value to an organization. In the 21st century companies differentiate themselves by the quality of their human capital. Organizations such as Starbucks Cafe have been able to maintain a competitive advantage due to their good

Police & Society CH 13,14,15 Essay Example | Topics and Well Written Essays - 500 words

Police & Society CH 13,14,15 - Essay Example The contemporary issues that affect police officers are negative media image as well as national proceedings. Given the confirmation regarding the existence of stressors affecting police officers, there has been a limited amount of study that concentrates on these stressors. Alcohol abuse has long been associated with the jobs of policemen. It is common notion that drinking alcohol is a usual occurrence during parties, occasions and even regular gatherings of police officers. With the use of drugs (which could further lead to drug abuse), researchers have not found any concrete data supporting the notion that drug abuse is also common among policemen although there are incidents which lead researchers to believe that this can be considered as an increasing problem. Suicide among police officers shows to be a result of consistently being under stressful conditions. This is alarming since this information is backed up with statistical data which stated in the book that policemen â€Å"were eight times more likely to commit suicide than to be killed in a homicide and three times more likely to commit suicide than to die in job-related accidents.† (Roberg, 2004) Problems at home as well as with their married lives also affect the police officers and increase their stress. This chapter also mentioned the three perspectives when it comes to police officer’s safety. It is also strongly advised in the book that people should be properly educated how to interact and communicate with policemen. There were scenarios given as well as instructions as to how citizens should act properly with the given situation. Does educational attainment of police officers affect their job performance? This is the question that is being tackled in Chapter 14. There are studies conducted to verify if it is necessary for police officers to be

HR manager of a large cinema chain based in London Coursework

HR manager of a large cinema chain based in London - Coursework Example The recruitment manager requires few qualities in order to select the right person at the ‘right place and time’. There are several policies for the process of recruitment. In accordance with the provided scenario stetting, the HR manager desires to recruit a cinema manager for a large cinema chain business in London so that the individual can perform according to the policies and principles of the business. The recruitment along with the selection process forms a part of the HR strategy. The main objective of the HR manager for the purpose of recruitment is to employ an individual who can work hard to achieve the desired goals of the business. The analysis of the skills required, judging the ability of the individual along with making an evolution of the performance capability of the individual are the key determinants for the HR manager (Sims, 2005). The process of recruitment is one of the critical tasks of the HR manger as it is the method of attracting new individua ls in the organisation to achieve its set out goals. HR planning (HRP) is important for an organisation to achieve its strategic goals. HR planning is done with the concept that people are amid the most important resources for any organisation. They are the core component of the business as they work in accordance with the requirement of the business development. It is the decision making procedure which helps in identifying the right person for the job. Motivating the employed person facilitates to attain greater performance and create a bridge between the management along with the people planning activities. HRP is of two forms i.e. the â€Å"Hard† and â€Å"Soft† HRP. Hard HRP focuses on the allocation of the right person with the quality needed for the business to flourish. On the other hand, soft HRP endeavours to build the culture of the organisation by achieving the