Neoclassical Theory Of Keynesian Theory

Neoclassical Theory Of Keynesian Theory
ECOP2011
Where are the Neoclassical elements in the Neoclassical–Keynesian synthesis? In what way does it
differ from the Cambridge (UK) view of Keynesian economics?
Intro
The Neoclassical–Keynesian synthesis contains theoretical principles and ideas from both the
Neoclassical school of economic thought and Keynes' General Theory. The UK Cambridge Post
Keynesian view of economics also contains elements from both these schools, yet the Neoclassical
Keynesian synthesis and the UK Cambridge Keynesian bodies of economic thought differ in their
views, methods and ideas. The two schools utilise different models to reach the similar conclusion
that the economy will tend towards full employment equilibrium in a long run situation – a
conclusion that complements a Neoclassical ideology or perspective of capitalism as a market based
organisation of society's production, distribution and consumption. It can be argued, then, that
although there are several examples of Neoclassical principles within the Neoclassical Keynesian
synthesis, that the general acceptance of a general equilibrium situation in the long run is the
defining Neoclassical feature. The paper will first examine the Neoclassical elements in the
synthesis school of thought, with reference to its defining IS/LM model, the Phillips Curve and the
Solow–Swan Growth model. The UK Cambridge Keynesian school rejects Hicks and Hansens'
IS/LM model, and instead utilises proportionately more Keynesian ideas in its body of
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Interest Rate Determination Essay
JOURNAL OF ECONOMICS AND FINANCE EDUCATION Volume 6 Number 1 Summer 2007
48
Reconsidering the Introduction to Interest Rate Theory
S. Kirk Elwood1
ABSTRACT The various theories of interest rate determination presented in economics textbooks
each spotlight a particular fundamental force behind the equilibrium rate. Unfortunately, each
theory's successful emphasis of one determinant of the interest rate comes at the cost of distorting
some other aspect of its determination. This paper argues that the basic market analysis of debt
securities (e.g., bonds and commercial paper) left out of most macroeconomic as well as money and
banking textbooks provides a straightforward and practical perspective on interest rate
determination ... Show more content on Helpwriting.net ...
But they never extend the analysis to show how interest rates are generally determined by debt
securities markets. Most intermediate texts similarly discuss the inverse relationship between
interest rates and bond prices without mentioning the markets where those prices are determined
(e.g., Blanchard 2003, and DeLong and Olney 2006). Able and Bernanke (2005) go a little further
by acknowledging that changes in money demand affect bond holdings, but still no debt securities
market is developed.
JOURNAL OF ECONOMICS AND FINANCE EDUCATION Volume 6 Number 1 Summer 2007
49
This distinction between debt securities prices and interest rates – on which more will be said below
– is supported by the fact that the actual markets where their joint values are determined are
explicitly debt securities markets. Bond markets – primary as well as secondary – and commercial
paper markets quote either the prices or discount rates of their debt securities, and leave the
corresponding interest rate to be inferred. The "interest rate" is a pricing term generally spoken
outside of the larger financial markets by retail borrowers and lenders such as local banks.3 In
addition to the great familiarity with interest rates by those who borrow or lend through banks, most
economists dependably refer to interest rates instead of debt securities' prices because it is assumed
that economic agents think in terms of interest

Taking a Look at Quantitative Easing
During the financial crisis in 2008, the Central Banks (CB) tried to repair the economy by setting in
action an open market operation (OMO). An OMO is where the CB buys short–term bonds to
increase the money supply. The CB's across the globe had to use a monetary policy instead of a
fiscal policy, partly due to countries sovereign debt problems . The CB's were buying short–term
bonds until the real interest rate fell to zero. When the real interest rate fell to zero it created
liquidity trap. And CBs had to look to unconventional monetary policies to create a higher output.
This paper will seek to answer if unconventional monetary policies, specifically quantitative easing
(QE), were effective on the economy or not. First, this paper will explain what liquidity trap and
how it is relevant. Second, it will explain how QE work. Third, it will conclude if QE were effective
or not. To question whether QE were effective or not it will use the American economy. This paper
will illustrate liquidity trap and QE by using the models: MS–MD, IS–LM and AS–AD. Liquidity
trap is when short–term interest rate on short–term bonds falls close to zero or zero and OMO has no
affect on the interest rate. When the interest rate are close or at zero, the demand curve is flat or very
elastic, so an increase in the money supply will not have any affect on the interest rate. The demand
curve for money is flat because people are anticipating a deflation or any negative shock to the
economy, and

Monetary Policy: The Forward Guidance Rationale
The Forward Guidance Rationale
Forward Guidance is an unconventional monetary policy used by the central bank to provide path
for future interest rates to individuals and businesses. Recently, the Bank of England has adopted
this policy. In this essay, we will explain the rationale behind the use of this policy with the help of
IS–LM model along with AD–AS model. The IS–LM model explains the relationship between
interest and income level and changes in equilibrium level through the use of monetary and fiscal
policy. Therefore, will be adequate in explaining the logic for applying this policy. Whereas, the
AD–AS model may help in analysing the inflation condition of this policy.
After the Global Financial crises of 2008, UK economy was severely affected and had dipped into
recession. Thus, this led to a fall in market confidence, lower GDP growth and higher levels of
unemployment. In order to boost the economy, expansionary monetary policies were adopted by the
Bank of England. Interest Rates were cut to historic low of 0.5%. However, the economy was still
not out of recession and conventional monetary policies failed to work even when interest rates were
near zero bound. So, the central bank used unconventional monetary tools such as Quantitative
Easing i.e. buying government bonds and injecting money into the economy. This policy was
accompanied by a rather new policy known as the Forward Guidance in August, 2013.
Furthermore in the UK, Forward

Should The Federal Reserve Bank Drop Its Interest Rate
In a world where overseas central banks in Japan and Europe are lowering interest rates and in some
cases keeping rates negative, the Federal Reserve Bank (The Fed), is faced with a series of tradeoffs.
For example if the U.S. is the only major economy to raise rates then we may attract money from
overseas investors who are seeking yield. Sounds good, right? But the flip side is that as this
happens, our currency will appreciate and when it does, it costs more for overseas consumers to buy
our goods. This hurts our exporters and eventually will weaken our economy.
3) The central or treasury bank should drop its interest rate immediately or soon after the tax cuts to
control interest rates from commercial banks and inflation. (However a decrease ... Show more
content on Helpwriting.net ...
We have thus seen that increase in money supply lowers the rate of interest which then stimulates
more investment demand. Increase in investment demand through multiplier process leads to a
greater increase in aggregate demand and national income.
If the economy suffers from inflation, the Government will like to check it. Then its Central Bank
should adopt tight or contractionary monetary policy. To control inflation the Central Bank of a
country can reduce money supply through open market operations by selling bonds or government
securities in the open market and in return gets currency funds from those who buy the bonds. In
this way liquidity in the banking system can be reduced.
To reduce money supply for fighting inflation the Central Bank can also raise cash reserve ratio of
the banks. The higher cash reserve ratio implies that the banks have to keep more cash reserve with
the Central Bank. As a result, the cash reserves with the banks fall which force them to contract
credit. With this money supply in the economy

Flipped Advising Model Analysis
Introduction
The aim of this paper is to propose a shift towards a flipped advising model in order to complement
the traditional advising approach in higher education institutions. The flipped advising model could
easily be incorporated into the existing learning management system (LMS) to provide students with
up–to–date and timely resources (Steele, 2016). This proposed shift could improve students'
academic performance while giving them plenty of time to plan their courses in advance (Waldner,
McDaniel & Widener, 2011). Flipped advising approach maintains high–quality resources that are
accessible to the students 24/7 and give them freedom to learn at their own pace (Al–Omary, 2010;
Waldner, McDaniel & Widener, 2011). A study conducted ... Show more content on Helpwriting.net
...
Academic advisors are required to receive adequate training opportunities to be able to effectively
and efficiently use this model to foster student success (Waldner, McDaniel & Widener, 2011).
Additional limitations are such as "up–front investment of time to build the advising shell or other
on–demand resources" (Waldner, McDaniel & Widener, 2011). Technical issues such as "slow
download feeds caused by poor Internet infrastructure, firewall protections that block some of these
communication programs, simple power or internet disruptions, etc." could also hinder the
productivity of the flipped advising model (Waldner, McDaniel & Widener, 2011). Finally, it is
important to evaluate the usability of the flipped advising model in order to identify the benefits
and/or constrain allied with the student success; however, the questions are how to assess, which
assessment tools to use, who will be responsible for the creation of the assessment tools, etc.
(Waldner, McDaniel & Widener, 2011). Therefore, academic leaders should resolve these issues
before fostering the flipped advising model.
Conclusion
The aim of this proposal paper was to examine flipped advising model to identify how this model
would improve students' success. As a result, both advantages and limitations of flipped advising
model were investigated to understand how to overcome these issues in order to successful integrate
this model into the institutions'

IS, LM model and explanations(in the form of an essay).
Essay topic1.
Introduction:
During the years after World War II, the development of the IS–LM model took several directions.
Probably, the most prominent ideas on that theory were expressed in the work of John Hicks called
"Mr. Keynes and the Classics". The model expressed in the article was largely based on the works of
John Maynard Keynes and became a widely accepted as the alternative framework to standard
Keynesian analysis. The IS–LM model is a way of modelling equilibrium in the economy by
looking at equilibrium in the goods and services markets (the IS curve) and equilibrium in the
money markets (LM curve). Where both these markets are in equilibrium will be the equilibrium
level of income. The IS–LM model looks at income against ... Show more content on
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Therefore, the amount of income from Y`1 to Y1 will be anattainable because of outcrowding of the
private sector by the public sector investment (shaded area).
The degree of crowding out depends on severeal factors. One of them is the extent of multiplier
effect. Multiplier effect occurs when increase in investment or any other autonomous expenditure
leads to even greater increase in income. For example, it may become widely believed that the MPC
(Monetary Policy Committee) is going to reduce the rate of interest. In that case, number of
leackages in the economy in the form of savings is likely to decline and consumption to increase.
This will result in the larger propensity to consume for every marginal unit of income. Increase in
consumption should lead to increase in investment and more flatter IS curve (see figure 3), which
will mean greater degree of crowding out.
Figure 3.
r
LM
r`
r

IS`
IS
0
Y0 Y1 Y`1 Y
There are other factors influencing the extent of crowding out effect. Effectivness of fiscal policy
also depends on the elasticities of IS and LM schedules. If investment is relatively sensetive to the
changes in the rate of interest, than for any change in interest rate there will relatively big change in
investment and correspondingly equilibrium rate of output. In that case the IS curve will be
relatively interest elastic and flatter. If the IS curve is

Analysis Of Proposition Of Rational Expectations,...
CHAPTER ELEVEN
STUDY WITH INVARIANCE PROPOSITION OF RATIONAL EXPECTATIONS
11.1 Introduction The concept of Invariance Proposition of Rational Expectations, developed by
Lucas, Sargent and Wallace in early seventies, presents the idea that the anticipated part of money
supply affects price level. Since the present work is devoted to study the relationship between
money supply and price level, the Invariance Proposition theory of rational expectation can be
applied to examine the relationship between anticipated money supply and price level. In order to
apply Invariance Proposition theory in examining the impact of anticipated money supply on price
level, we need to estimate the anticipated money supply.
There are several procedures to estimate the anticipated money supply; the present study has applied
ARIMA structures of narrow and broad money supply for the estimation of anticipated money
supply. After identifying anticipated money supply, a regression equation has been performed taking
price level as dependent variable and anticipated money supply as explanatory variable.
11.2 ARIMA Model for M1 Money Supply
In order to quantify anticipated money supply, the ARIMA model has been applied. For this purpose
equation (11.1) has been employed for ARIMA structure for M1 money supply, on the basis of
which the anticipated M1 money supplies has been quantified. 〖dLnM〗_1t=α+β_1 〖dLnM〗
_(1t–1)+β_2 〖dLnM〗_(1t–2)+⋯+β_k 〖dLnM〗_(1t–k)+θ_1 u_(t–1)+θ_2 u_(t–2)+⋯+〖

The Cost Of Real Money
However, with the LM curve moving to bring the economy to full employment, it seems impossible,
in this case, to have sustained price rises (i.e. inflation) as the monetary side seems to close off the
story entirely. One could subsequently argue that, as real wages (w/p) declined in the process, then
workers would try to bid their money wages back up and thus regenerate the gap. However, recall
that from the four–quadrant IS–LM diagram (our earlier Figure 4), when IS–LM centers on the full
employment output level so that Y* = YF, then the labor market clears and thus there are apparently
no inherent dynamics to imply a rise in wages. If anything, a Pigou Effect arising from the fall in
real money balances ought to push the IS curve to the left and actually generate unemployment so
the implied dynamic might actually be a fall in money wages (of course, in the process of the
original adjustment, IS and LM could move concurrently to the left and land at YF together, but then
we are back to a full–employment centered equilibrium). In short, in an IS–LM context, we can
obtain price rises but, at least within the confines of the model, we cannot obtain continuous
inflation unless aggregate demand rises again for some reason – and there is no apparent reason why
it will do so.
The problem, of course, returns to the old issue of what happens in that mysterious labor market
which was so murky in the Hicks–Modigliani IS–LM world. The Keynes–Smithies story has
workers bargaining for

Design The Library Management System
Davidson design was invited to design the Library Management System, to include an evaluation of
the processes towards improving the quality of the management software. The software will reflect
all the requirements defined by the customer, documented in the included requirements documents.
Further, included is an examination and evaluation of potential software development models for
identification of those best suited to develop the software. Finally, an explanation of the testing plan
utilized in testing the functionality of the system is included. Process Improvement The Library
Management System (LMS) must allow performance of all necessary procedures for librarians and
patrons. According to customer requirements, the software to be developed must consist of three
databases: Item's database (books, journals, magazines, newspapers, diploma thesis, etc) Patron's
database a small Access–based database with information about digital items, that College has
(software, music) integrated with Item's database The LMS must provide all necessary services for
databases such as creating, deleting, updating and searching information. Patrons need to easily
access to the web–based library site through the Internet or through the library's LAN–connected
computers, scattered throughout the library for sending request, receiving information about the
status of books, or renewing them. The design of product interface to be developed will be
supported by Microsoft IE,

Hicks And The Is Lm Curve
Dan Hill AAEC 8210 December 1st, 2015 Hicks and the IS–LM Curve While J.R. Hicks received
the Nobel Prize for many of his accomplishments in both macroeconomic and microeconomic
research, his development of what he then called the SI–LL model, but is now more famously
known as the IS–LM model, was one of his greatest feats. The IS–LM model was Hicks' reduction
of aggregate demand analysis done by John Maynard Keynes in his book titled The General Theory
of Employment, Interest, and Money published in 1936. The model's purpose was to explain
investor decisions dependent on money availability and interest rates in the goods and services
market and assets market. The IS–LM model now plays an integral role in both general
macroeconomic understanding and policy analysis. IS–LM stands for investment–savings and
liquidity–money, and can be represented graphically by a downward sloping curve for IS and an
upward sloping curve for LM. In the IS curve, anywhere along the curve represents a point where
interest rate and income satisfy that total spending equals the economy's total output (real income).
Total spending/demand is determined by adding together consumer expenditure, investment,
government expenditure, and net exports (investment being the only endogenous variable among the
four). In this equation, the assumptions are that; consumer spending is increasing with more
disposable income, investment is increasing as interest rates increase, and exports are increasing
with

Hausman, Autocorrelation Test and Heteroscedasticity,...
Hausman test
Hausman test which usually accepted method of selecting between random and fixed effects which
is running on regression equation. Hausman (1978) provided a tectonic change in interpretation
related to the specification of econometric models. The seminal insight that one could compare two
models which were both consistent under the null spawned a test which was both simple and
powerful. The so–called 'Hausman test' has been applied and extended theoretically in a variety of
econometric domains. We focus on the construction of the Hausman test in a variety of panel data
settings, and in particular, the recent adaptation of the Hausman test to semi–parametric and
nonparametric panel data models. A formal application of the Hausman test is given focusing on
testing between fixed and random effects within a panel data model. Mostly fixed effects are
accepted way to run with panel data as they always present consistent outcomes but may not be the
most effective way to implement. On the other hand, random effects usually provide to the
researcher better P–values as it considered to be a more active estimator, so researcher can study
random effects if it is reasonable to do so. Moreover, Hausman test choose a more effective model
compared to a less efficient as consistent model should presents robust estimates and consistent
results owing to the more efficient model.
Autocorrelation test
Another terms sometimes used for describe Autocorrelation these are "lagged

Is Lm Model A Fundamental Tool?
Keynesian Macroeconomics without the
LM Curve
David Romer
For macroeconomics education the IS–LM model is considered as a fundamental tool. IS–LM is a
basic concept that is constructed to analyze the relationships of real output and interest rates in the
goods market and the money market. David Romer did not accept the practice of IS–LM as a basic
learning tool. Romer made a framework for the particular flaws of the IS–LM model and replaced it
with another one that focuses some limitations with the model.
Romer focused that the simple IS–LM model has some limitations. Firstly, it only assumes a fixed
price level which does not analyze inflation. Romer certifies this model suitable for the 1950 's and
60 's. At that time inflation was not ... Show more content on Helpwriting.net ...
Monetary policy was explained through the real interest rate. As explaining through real interest rate
is more realistic than explaining through nominal interest rate. And it makes the model less
complex. The LM curve is more complicated than a real interest rate. When there is high inflation, it
focused on inflation first, and it raises real interest rate so that the output decreases and inflation
diminishes. And in time of low inflation instead of focusing on inflation, it lowers real interest rate
to increase output.
The aggregate demand curve is a relationship between inflation and output. The real rate is
determined by inflation and output is determined by IS curve.
In this model two events do not happen at the same time. So, at first, inflation occurs and thus the
real interest rate is determined, and eventually output is determined by the real interest rate.
As the movement of output from its usual state is a result of change in inflation which provokes
central bank to shift the real interest rate, which shift output back to previous state.
The Money Market
In the new model, the correct concept of money is specific.
It focused on how adjustment in expected inflation influences the central banks adjustment of the
money supply because of the real interest rule though it does not have any other impact on aggregate
demand.
The Open Economy
It is better to create a

Mean Square Error Essay
The design has been implemented taken into account the analysis of Mean Square Error. It has been
implemented with the help of MATLAB . Adaptive frequency domain least mean square (FD–LMS)
algorithm has been proposed as the most hardware efficient multi–input multi–output equalization
method for compensating large differential mode group delay (DMGD). Except for hardware
complexity, the convergence speed of the adaptive FD–LMS algorithm is another important
consideration. Propose a noise power spectral density (PSD) directed adaptive FD–LMS algorithm,
which adopts variable step size to render the posterior error of each frequency bin convergent to the
background noise in an additive white Gaussian noise (AWGN) channel. The FDE techniques ...
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1. (1) An residue error can be predicted by comparing the output from the linear filtering phenomena
and (2) Accordingly response to the input signal with the necessary response of the signal. Mainly
above two parts are from filtering process. 2. Estimated error mainly takes part in generation of
updating filter vector in the automatic adjustment of the parametric model. Figure 4.1 Concept of
adaptive transversal filter 4.2 Least Mean Square Algorithm Using the steepest descent algorithm if
it is mainly concentrated to make accurate measurement of the vector named gradient J(n) at every
regular iteration. It is also possible to compute tap weight vector if step size parameter is suitably
selected. Step size selection and tap weight vector optimally computed would be related to optimum
wiener solution. As the advance knowledge of both mentioned matrix like correlation matrix R of
the tap input and the cross correlation vector P between the tap inputs and the desired response. To
achieve an estimation of J (n), very important method is to take another estimates of of the
correlation matrix R and the cross correlation vector p in the formula, which is produced here for
convenience [18]. J (n) = –2p + 2Rw (n) (4.1) Very obvious choice of predictors is computation by
using instantaneous estimates for R and p that are collaborated by the different discrete magnitude
values

Liberty Mutual Employee Benefit Analysis
Liberty Mutual Insurance is a global insurer based out of Boston, Massachusetts, that helps people
preserve and protect what they earn, build, own, and cherish. They have been in business since 1912
and have operations in 30 countries and economies around the world. They are ranked 73rd on the
Fortune 100 list of largest corporations in the U.S. based on 2015 revenue (About Liberty Mutual,
2016). Liberty Mutual Benefits (LMB) offers employee benefit products and services including
disability, life, voluntary and absence management along with individual life and annuity products.
They are the fastest growing group life and disability carrier, according to Gen Re Group Market
Survey. They also have a retention rate of more than 95% of their book of business. (Liberty Mutual
Appoints Rebecca Schechter to lead Liberty Mutual Benefits, 2016). The focus of Liberty Mutual
employee benefit products is timely and quality service to support an organization's employees.
Employees are the most important part of any operation and play a key role in its success. In
addition to custom tailored solutions, Liberty Mutual offers their expertise in safety directly from the
Liberty Mutual Research Institute for Safety. The mission of the Liberty Mutual Research Institute
for Safety ... Show more content on Helpwriting.net ...
Their response to LMB entering the midmarket space was positive. To move forward with this
growth, LMB has broadened their market focus as a new service model and business platform was
designed. Since other carriers have also ventured into the midmarket, LMB has addressed the
challenges that they faced. Most importantly, LMB discussed the importance of not losing focus on
the core business that made them so successful. Early Request for Proposal (RFP) submission flow
looks promising with quoting capabilities in 36

An Evaluation Of Lms Based Adaptive Filtering
ABSTRACT Current Method of speech enhancement has been developed with adaptive filtering
approach. The removal of unwanted signal i.e. noise from speech signals have applications ranging
from cellular communications to front ends for speech recognition system. This paper describes
proficient algorithm for removal of noise from speech. An optimal evaluation of LMS based
adaptive filtering has been implemented for the observed noisy speech. This Algorithm is basic
adaptive algorithm. This Adaptive algorithm has been used in many practical applications as a result
of its robustness and simplicity. In Future Enhancement Unbiased and Normalized Adaptive noise
reduction will use for speech improvement. Keywords – Adaptive filtering, LMS algorithm, MSE,
Speech Enhancement, UNANR. I. INTRODUCTION In Practical situations speech signals are
corrupted by several different forms of noise such as speaker sound, background noise like door
slam fan running in background, car noise, TV noise and also they are concern to distortion caused
by communication channels; examples are low–quality microphone, room reverberation, etc. In all
such situations extraction of high resolution signals is an important task. Filtering techniques are
mainly classified as adaptive and non adaptive filtering techniques. Speech enhancement improves
quality of signal by suppression of noise and reduction of distortion. The speech enhancement tells
about the growth of communication system. Enhancement means

Macroeconomics: How the IS-lM Model Can Help UK's Economy
Introduction The formation in May 2010 of the first coalition government in the UK for seventy
years was followed by the announcement that government deficit reduction was the government's
top policy priority. During the general election campaign the need for fiscal consolidation was
accepted by all three major political parties. The Republican Party however was the only party that
argued for a program of accelerated debt reduction and warned that if the election failed to produce
a decisive outcome in the form of a government with an overall majority and with a "credible" plan
for deficit reduction, this could have dire consequences for the economy and the public (National
Archives, 2010). Since World War II, government policymakers have tried to promote high
employment without causing inflation (National Archives, 2010). If the economy experiences a
recession such as the one that plagued the UK, policymakers, two principal sets of tools to use are
aggregate demand: monetary policy. These involve the control of interest rates or the money supply,
and fiscal policy, the control of government spending and taxes (National Archives, 2010). The IS–
LM model can help policymakers predict what will happen to aggregate output and interest rates if
they decide to increase the money supply or increase government spending. In this way, ISLM
analysis will guide towards coming up with an ideal answer to the deficit problem facing the UK's
economy. It also highlights the usefulness

Business
Name: __________________________ Date: _____________ 1.|Explain the following concepts:IS
shocks, LM shocks| 2.|Use the IS/LM–AD/AS model to illustrate graphically how expansionary
fiscal and monetary policy can help stabilize the output when economy is in a recession. | 3.|Use the
IS–LM model to derive the AD curve and to show how expansionary fiscal and monetary policy can
shift the AD curve. | 4.|A decrease in government spending reduces output more in the Keynesian–
cross model than in the IS–LM model. Explain why this is true.| 5.|Use the IS/LM–AD/AS model to
graphically analyze short–run & long–run effects of a negative IS Shock.| 6.|Assume that an
economy is characterized by the following equations:C = ... Show more content on Helpwriting.net
...
By how much will Y increase in short–run equilibrium? What is the multiplier for money supply
(the change in Y divided by the change in Ms)?|| 8. Problem 2 on page 336. 9. Problem 3 on page
336. Answer Key 1.|See notes.| 2.|See notes.| 3.|See notes| 4.|In the Keynesian–cross model, both the
price level and interest rate are held constant. A decrease in government spending reduces output by
1/(1 – MPC) times the change in government spending. In the IS–LM model, the reduction in output
caused by the decrease in government spending is partially offset by an increase in investment
(crowding in). In the IS–LM model, the decrease in government spending reduces income as in the
Keynesian–cross model, but the reduction in income also reduces the demand for money, which in
turn reduces the interest rate for a given money supply. The lower interest rate stimulates the off
setting investment spending.| 5.|See notes.| 6.|a.|Y = 2,700 + 3G – 2T – 50r.|b.|r = 0.01Y –
0.02(M/P).|c.|For P = 1.0, Y = 2,800 and r = 4; C = 1,566.67 and I = 733.33. For P = 2.0, Y = 2,400
and r = 12; C = 1,300 and I = 600.|d.|Y = 1,800 + 2G – (4/3)T + (2/3)M/P.|| 7.|a.|Y = 5,000 –
100r.|b.|Y = 3,000 + 100r.|c.|In the short–run equilibrium, Y = 4,000, r = 10, Y – T = 3,000, C =
2,400, I = 600, private saving is 600, public saving

The Global Financial Crisis Of 2007 / 8
BMAN20340 T Ngoasheng 9179260 Since the global financial crisis of 2007/8 many European
countries have been struggling to recover their economies and regain economic stability. Since the
crisis we have seen several Eurozone countries go into administration and be bailed out by financial
institutions and other countries, however these attempts to regain stability in the Eurozone have not
worked as effectively as many governments and central banks had hoped. On the 4th of September
2014 the European Central Bank (ECB) cut its benchmark interest rate to 0.05%. It will also launch
an asset purchase programme, which will buy debt products from banks, the asset purchasing
programme more commonly known as Quantitative Easing (QE). Using ... Show more content on
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This lead to the American government having to bail out many banks and the financial crisis
spreading to other parts of the global economy such as the Eurozone. Due to the establishment of the
European Union(EU) and its currency the Euro, many European countries became close financially
intertwined through lending and borrowing from one another but also through the decline of trade
barriers and companies setting up offices in many different countries within the area(Jarvis, 2014).
Although countries in the EU have adopted the same currency and monetary policies, their fiscal
policies differ. Some countries such as Greece, Spain, Italy and Portugal already had quite a large
amount of debt before the establishment of the EU and the 2007/8 Credit Crunch due to differences
in Fiscal Policy countries views about taxation and government spending differed therefore these
countries had a year on year government deficiet. When the credit crunch hit the eurozone many
countries couldn't pay one another back which saw the increase of countries having to be bailed out
by financial institutions and other countries such as Germany which had very strict Fiscal policies in
order to avoid economic collapse(Jarvis, 2014). These bail outs were only effective to a certain
extent as quite a few countries within the eurozone are yet to fully recover from the 2007/8 Credit
Crunch and it has in turn created a debt crisis

The Economic Theory Of The Mundell-Drinking Model
The Mundell–Fleming model is an economic model introduced by Robert Mundell and Marcus
Fleming. This model is an extension of the IS–LM model. The traditional IS–LM model studies a
closed economy (autarky), whereas the Mundell–Fleming model explains an open economy with a
small size (Mundell, 1963). The model explains the mechanism of an economy that is open to
foreign trade for goods and financial assets, and gives economists a structure to analyze
macroeconomic policies. This model describes the relationship between an economy's nominal
exchange rate, interest rate and its output in the short run. With the model, many claim that an
economy cannot have an independent monetary policy, a fixed exchange rate and free capital
movement at the same time. This theory is often called "the impossible trinity" or the Mundell–
Fleming "trilemma." According to this theory, a nation has three choices. First, it can have a fixed
exchange rate for its currency with another and let capital flow freely across borders. Second, the
country can set its own monetary policy and let capital flow freely. Third, it can have its own
monetary policy and a fixed exchange rate. However, the country cannot simultaneously have a
fixed exchange rate, free flow of capital and its own monetary policy.
There are three curves in the graph of the Mundell–Fleming model. In an open economy,
equilibrium is achieved in the goods market when production is equal to the demand for goods. The
investment/saving (IS) curve represents the value of equilibrium for different interest rates. As
higher interest rates discourage production through its impact on investment, the IS curve is
negatively sloped. The supply and demand for money determine the interest rate in an economy. The
liquidity preference/money supply (LM) curve represents the relationship between money and
liquidity. Since higher income leads to stronger demand for money, interest rate is an increasing
function of output level; hence, the LM curve is positively sloped. The balance of payment (BP)
curve shows the combinations of interest rate and real income where the balance of payment is in
equilibrium, which means that net export must be equal to net capital outflows. The BP curve is
usually

Cooperation And The Requirement Of Stronger Enforcement
cooperation and the requirement of stronger enforcement or more systematic dispute settlement
mechanism. My second hypothesis is that international institutions or treaties of members of
significantly asymmetric national capability will have a stronger dispute settlement mechanism.
That is to say, In other words, an institution that contains asymmetry of power in terms of national
capacity, military capacity, economic capability, and legal resources should have stronger DSMs. In
this situation, powerful states might seek for stronger DSMs for gaining advantage within
institutions. The underlying logic of this idea, based on Allee and Elsig is that "many DSMs allow
for both diplomatic and legal dispute settlement, so powerful states can benefit from having a menu
of dispute settlement options that allows them to forum–shop even within treaties."(Allee 97) Also,
for weaker countries, stronger DSMs can give weaker countries the equal chance to argue with more
powerful countries under certain framework. Strong DSMs provide relatively weaker countries such
as Mexico has more capability to confront with more powerful countries and boost their chance to
win the confrontation. To prove this hypothesis, I will find asymmetric countries in size and
compare the agreements of these asymmetric countries to some symmetric countries. The expected
conclusion should be that agreement with more heterogeneous countries would have stronger DSM.
There are many existing cases can prove this

Islm Curve
Understanding Equilibrium in the IS/LM Model 1995 version Prof. Humberto Barreto1
Introduction: This brief work is designed to provide additional ammunition for the student in the
ongoing war against IS/LM confusion and ignorance. The author has claimed in his Notes on
Macroeconomic Theory (1995) that, There should be no mystery or uncertainty surrounding the
IS/LM analysis at this point. IS/LM curves are simply a short–cut to finding the equilibrium values
for income and interest rate. There are two equations and two unknownsÑwhat simpler strategy than
to put them on one graph could be devised? (p. 52) The author still worries, however, that the
student is memorizing the equilibrium condition, IS=LM generates Ye, without really ... Show more
content on Helpwriting.net ...
The student should see that the existing values of i and Y will have a tendency to change. The
interest rate will fall because there is a shortage of bonds and as the price of bonds rises to drive the
bond market to equilibrium, the interest rate will fall. The equilibrium interest rate, of course, will
be found at the intersection of the Ms and Md schedules. Output will increase because a falling
interest rate will trigger higher investment expenditures by firms. The increased I will increase AD
and, therefore, Ye will increase. But then the higher income will shift money demand up, which will
increase the equilibrium interest rate, and the same chain will be triggered leading to a decrease in
the equilibrium level of output. The student undoubtedly knows that, eventually, after running
through a series of converging loops, the system will settle into a mutually compatible, or general
equilibrium, combination of i and Y. If you think the iteration process is a messy and cumbersome
means of calculating the general equilibrium, or final, resting place of i and Y, you should applaud
the use of the IS/LM graph. In one quick graph, we can immediately and easily see the system's
general equilibrium solution. From our initial i0, Y0 combination, the IS/LM graph allows us to
instantly see the final solution and to predict a decrease in interest rates and increase in output.
However, a drawback is that it does not show how or why

Theoretical Analysis of News Article A Working Model: Is...
Introduction
The considered article is chosen from The Economist, dated 11th of August 2005 with the title "A
working model" – Is the world experiencing excess saving or excess liquidity?
In purpose of this article is to present the understanding of IS–LM model in macroeconomics by
these are the convergence of two economic graphs, one representing the income and savings (IS0
and other liquidity and money (LM).
Article Summary
In this article, author defines the so–called IS–LM framework aggregate macroeconomic model that
has the intuition use to describe money and markets. The author has also focused on the role of IS–
LM model and its relation with the interest rate, short–term rates, monetary policy and the unusually
expansion of ... Show more content on Helpwriting.net ...
Businesses like consumer reduces their investment due to interest rate increase. This increase in
interest rate reduces the current income/output as consumers and investors reduce consumption and
investment.
Generating the LM curve
The author made assumptions that the money supplied is a fixed quantity in the short–run due to the
fact that the demand for money is a function of prices, income and the interest rate. Using the
equilibrium in the market the LM curve can be derived as shown in the graph which will show the
relation (Thoma, 2013).
Figure 2: Relation between interest rates and output
As the graph reflects the increase in income (Y) increases in the demand of money. Very similar to
the IS curve, the relation is captured by plotting the income (Y) on the X–axis and the interest rate
on the Y–axis, this jointly relation that deprived from the market is called the LM curve.
Conclusion
The author tried to justify the fact but these two theories are not mutually exclusive as the rising
income leads to higher demand of money that will affect the LM curve. He focuses mainly on the
short–term analysis of the matter and reflects the after math of the monetary policy of US that has
deprived by domestic liquidity and the settlements.
However, the author has given relevant explanations about the IS–LM combination with the
inflation effects with cheap

Case Study: NSI Is A Good Strategic Fit For Lockheed Martin
NSI is a good strategic fit for Lockheed Martin (LM). LM's goal is to "return at least half of free
cash flow to shareholders through stock repurchases and dividends." LM has completed 25 large
acquisitions since 2001 and looks for firms that have the following: attractive strategic rationale
appropriate risk/return trade–offs meaningful growth prospects a compatible business model clear
concept of operations NSI is a good operational, strategic and financial fit for LM. NSI would fill in
a niche portion of the market as they differ from LM's more traditional defense business. NSI gets
39% of its revenues from its Facilities Operations and Maintenance division and 15% from its
Embassy Operations and Maintenance division. NSI will also give LM greater diversity in its
defense operations and will also allow for growth internationally. NSI is looking to expand into
Eastern Europe, the Middle East, Africa and South America. An acquisition of NSI also means
access to a new customer base including the UN and the State Department. ... Show more content on
Helpwriting.net ...
LM may see a reduction in costs and an increase in sales (operating economies). LM is currently
under pressure to reduce its costs. In 2005, over half of LM's revenues came from the Department of
Defense and only 15% came for international markets. They are relying heavily on the Department
of Defense for sales and, by acquiring NSI (thereby getting access to a new customer base), they
will be able leverage their expertise and realize higher growth. The acquisition would provide not
only geographic expansion but would also expand LM's sphere of service offerings. LM is a leader
in innovation and quality service while NSI has experienced management and a good reputation.
This would allow LM to solidify its position as a market

Three Pane Model
A Brief Note on Open Economy ISLM Model (Three–Paned Model)
Utility for Business Managers: Firms resort to macroeconomic analysis to make rational judgments
about the effects of global events or policy shocks on the economy and thereby on the business
environment. But such analysis is often laden with possibilities for logical missteps. The Three–
Pane model (open economy IS/LM model) is discussed here as a tool for explaining key
relationships in the economy while avoiding the missteps encountered in macroeconomic analysis.
What is open economy macroeconomics?
Macroeconomic analysis helps firms to explore the interrelationships among a whole host of
markets, while microeconomics focuses on variables like price and quantity, & cost ... Show
more content on Helpwriting.net ...
Therefore, the net capital outflow decreases, which is shown by the fall in CF from CFo to CF1.
Likewise, if there is a fall in the interest rate from ro to r2, capital outflow increases, and capital
inflow decreases, leading to an increase in net capital outflow as indicated by an increase in CF to
CF2. The Capital Outflow (CF) curve is therefore, downward sloping. This means that, higher
domestic rates of interest are associated with lower net capital outflows, and lower domestic rates of
interest are associated with higher net capital outflows.
As mentioned earlier, the three–paned model plots the net export schedule (NX) with respect to the
exchange rate, E. E is defined as the foreign currency per unit of domestic currency. If we drop the
equilibrium amount of capital flows CFo from pane II to the third pane we get the equilibrium
amount of net exports, NXo, which is determined by the intersection of the perpendicular dropped
from the CF schedule with the NX schedule. This also gives the equilibrium nominal exchange rate,
Eo. [Here, we are assuming price levels at home and abroad as constant, therefore, nominal and real
exchange rates can be considered to be proportional. i.e., they won't be different].
How do we explain the model in simple economic terms?
In a closed economy, the rate of interest decided by the RBI defines the simultaneous equilibrium in
the product/goods market and the

Local Motors Case Study Analysis
Local Motors: Designed by the Crowd, Built by the Customer Case Study Analysis Table of conten
Table of content 2 Introduction 3 Local Motor's business model vs. "typical" models 3 The
CANVAS model 3 Customer Segments 3 Value propositions 3 Channels 4 Customer Relationships 4
Revenue Streams 4 Key Resources 4 Key Activities 5 Key Partnerships 5 Cost Structure 5
Evaluation of the business model 5 Customer involvement according to NIKE 6 "LM template" in
the clothing industry 7 References 8 Introduction The financial crisis starting in 2008 and the
following recession hit hard the US auto sector. Traditional car makers had to realise that substantial
changes were needed in order to maintain their strong position in the ... Show more content on
Helpwriting.net ...
Those who prefer other way of service can easily access information on LM's website about all auto
components and inform themselves about mechanics who can service their car. Channels There are
two key channels what LM uses to deliver value for its customers: the community and the regional
microfactories. The community is a core element of LM's business model and consists of a group of
car enthusiasts and designers who communicate mainly on an online platform, but they also meet in
person during events organized by LM. Microfactories serve as places for car manufacturing but
they mean a lot more for the company. They are places to gather together with the community and to
work together with customers whilst assembling. Both key channels are important parts of LM's
marketing strategy and play a prominent role in the customer experience. LM uses mainly these own
and direct channels to reach its customers. It raises awareness about its cars using mostly its website.
This platform also helps potential customers in evaluating the offerings of LM as community
members share their opinion, knowledge and experience there. The purchase, the delivery and the
after sales service happen through the channel of microfactories. Customer Relationships Three
categories of customer relationships co–exist in the business model: personal assistance,
communities, and co–creation. Personal assistance has an important role. LM

The Health Of The Current U.s. Economy
Situation:
The health of the current U.S. economy appears to be growing gradually. The second quarter real
GDP growth was 3.7% and the unemployment rate declined to 5.3%. The U.S Federal Reserve (Fed)
is expected to raise interest rates in the near future when it sees clear signs of strong economic
growth and improvements in the job market.
The last time the Fed raised interest rates (to 5.25%) was in 2006. This move was soon reversed as
the 8 trillion dollar housing market bust sparked the global financial crises. About 8.7 million jobs
(about 6%) were lost, unemployment rose to about 10% nationally leaving many households with
less to spend and higher debt.
Given its mandate to maximize employment and maintain price stability, the Fed took monetary
policy actions in December 2008 to keep long–term interest rates at near zero (between 0.0% and
0.25%) to help stabilize and revive the U.S economy –– leaving no option for further interest rate
reduction.
The U.S has a hybrid economy and is considered a large market economy, where there is no central
authority directing people what to produce or where to ship it. So, what are the implications and
likely economic consequences of an interest rate hike using the IS–LM model in a closed economy
and a basic market for loanable funds?
Closed economy IS–LM analysis: The IS–LM model focuses on the equilibrium of the goods
market and the money market. In other words, it shows the relationship between real output and
interest rates.

Slides For International Finance
Introductory Concepts Short–Run Model: DD and AA Liquidity Trap Macro Policy and CA Slides
for International Finance Aggregate Demand and the SR (KOM Chapter 17) Alan G. Isaac American
University 2012–10–22 Alan G. Isaac Slides for International Finance Introductory Concepts
Short–Run Model: DD and AA Liquidity Trap Macro Policy and CAAA Curve Aggregate Demand
PREVIEW AA Curve review SR model of asset market equilibrium AA: Y E (to maintain asset mkt
eq) DD Curve SR model of output market equilibrium DD: E Y (to maintain asset mkt eq) SR
Model AA + DD: simultaneous output market and asset market equilibrium temporary v permanent
changes in monetary and fiscal policies liquidity trap (zero ... Show more content on Helpwriting.net
...
Isaac Y Slides for International Finance Introductory Concepts Short–Run Model: DD and AA
Liquidity Trap Macro Policy and CAAA Curve Aggregate Demand ^M AA Shifts Up E E E2 E1
E2 E1 Y1 AA' AA Y 0 R∗ + R2 R1 e E1 −E E returns Q1 M1 /P Q2 M2 /P L(R , Y1 ) Alan G. Isaac
Q Slides for International Finance Introductory Concepts Short–Run Model: DD and AA
Liquidity Trap Macro Policy and CAAA Curve Aggregate Demand Êe AA Shifts Up E E E2 E1
E2 E1 Y1 AA' AA Y R∗ + R∗ + 0 e E1 −E E R1 Q1 L(R , Y1 ) Alan G. Isaac e E2 −E E Q Slides for
International Finance returns Introductory Concepts Short–Run Model: DD and AA Liquidity
Trap Macro Policy and CAAA Curve Aggregate Demand Determinants of Aggregate Demand
Aggregate demand the aggregate amount of goods and services that individuals and institutions are
willing and able to buy C: consumption expenditure I: investment expenditure G: government
expenditure (purchases of final goods and services) CA: net expenditure by foreigners (the current
account) Alan G. Isaac Slides for International Finance Introductory Concepts Short–Run Model:
DD and AA Liquidity Trap Macro Policy and CAAA Curve Aggregate Demand Determinants of
Consumption Demand ^ ^ disposable income (Yd = Y – T) (Y–T) C

Essay On Monetaristist Theory Of Inflation
Differences of the Monetarist and Classical explanation of Inflation
Overview
Monetarist view relates to the work of Milton Friedman. The monetarist theory of inflation asserts
that the general price level would rise only due an increase in money supply, but will not be
proportionate. According to monetarists, money supply is the dominant but not exclusive
determinant of both prices and the output level in the short run, but in the long run money supply
only determines the level of prices. The output level in the long run is not determined by money
supply. Monetarists emphasize so much on the role of money and therefore hold that money supply
is very crucial tool of monetary policies in stabilization of the economy as compared to fiscal
policies. Milton Friedman stated as follows inflation is always and everywhere monetary
phenomenon that will arise when money supply rises at a faster rate than the growth of national
output.
This phenomenon is explained in the simple quantity theory of money as follows
MV=PT
In this equation M, V, P and T are Money supply, velocity of circulation, Price Level and
transactions respectively.
Therefore our equation becomes MV=PY where Y Is the National Income.
We ... Show more content on Helpwriting.net ...
However this is not always the case. To deal with these worries, Milton Friedman argued that there
should be necessary reforms to make sure that central banks are autonomous and are able to
maintain the financial liquidity of the system. However, classical highly doubt the autonomy of
central banks from political interference. The central bankers are subjected to appointment by
politicians and therefore may make decisions that deviate from the autonomy principle of the central
banking institutions. Therefore their decisions may only serve the interests of the government and
politicians and not the interest of the larger

Active Hybrid Noise Cancelling System Block Diagram
2.2 Methodology 2.2.1 Active Hybrid Noise Cancelling System Block Diagram Figure 1. Hybrid
ANC structure As illustrated above, a hybrid active noise cancelling system is a constitution of
feedforward and feedback mechanism with adaptive filters. The red area in block diagram is the
feedforward section and the green is the feedback section. To understand this system more
thoroughly, we will need to look at the feedforward and the feedback system individually. 2.2.2
Feedforward ANC System Block Diagram Figure 2. Standard Feedforward LMS ANC Figure 3.
Feedforward FxLMS ANC Figure 2 is the general feedforward ANC block diagram with Least
Mean Square (LMS) adaptive filter. The adaptive filter assists to filter the filter coefficient
according to an adaptive algorithm. However, standard LMS algorithm tends to cause instability
issue [13], since the error signal is not properly aligned in time in time with the reference signal
due to the presence of the secondary–path transfer function S(z). To solve the problem, it is
necessary to find a different LMS filter or a different ANC system. There are several ANC filter
algorithms and systems can be chosen as the solution. 1.recursive filtered least mean square
(FxRLS); 2. fast–transversal–filter (FxFTF); 3. Lattice– ANC systems; 4. frequency–domain–ANC
systems; 4. Filtered–u recursive LMS filter based on IIR; 5. FxLMS filter[14].

Expansionary Monetary Policy Essays
Expansionary Monetary Policy Expansionary fiscal policy, such as the Chancellor of the Exchequer
deciding to reduce the standard rate of income tax leads to higher aggregate demand and an increase
in equilibrium income and output. In this essay I will examine the factors that are important in
determining the macroeconomic effects should such a policy be installed by Gordon Brown
(Chancellor of the Exchequer), and I will comment on any suggestions I may have for Gordon
Brown in the preparation of his next budget with a brief description on the assumptions that my
advice is based.
Macroeconomic Goals
Firstly I would like to examine the macroeconomic goals/aims of Gordon Brown and his fiscal
policy. Fiscal policy is the ... Show more content on Helpwriting.net ...
An increase in aggregate demand leads to an increase in the demand for labour shown as a shift
from DL to DL1 which leads to increase in employment as a result of the wage rate increasing from
1 to 2. However, due to the natural rate of unemployment the supply of labour shown as SL, shifts to
the right to SL1 where the wage rate is represented as 3 and employment returns to the natural rate.
IS–LM Model
This example of short run and long run aggregate supply and demand brings us straight into IS–LM
Model. The IS–LM Model shows the combinations of both income and interest rates and shows how
equilibrium is reached in both the goods and money markets. This model involves two
schedules/curves, the IS curve and LM curve. The IS schedule shows the different combinations of
income and interest rates at which the goods market is in equilibrium and the LM schedule displays
the combinations of interest rates and income compatible with equilibrium in the money market. IS–
LM schedule in equilibrium or the goods and money markets in equilibrium. The money market is
in equilibrium at all points on the IS curve. The money market is in equilibrium at all points on the
LM curve so only at point A are both markets in equilibrium.
With the exception of a fall in interest rates, any factor that shifts the aggregate demand curve
upwards, such as a decrease in income taxes will also shift the IS curve

Article Line Management Competence : The Key For...
According to, (Donaldson, Yarker, Lewis, 2008), the article Line management competence: The key
to preventing and reducing stress at work. Strategic HR Review, 7(2) states, In the UK, Health and
Safety Executive (HSE), was concerned about their employees. The company according,
(Donaldson et al., 2008), believed that work–related issues was due to stress. HSE has established
Management Standards for stress at work that are designed to help employers tackle the major
sources of work–related stress risk
(Donaldson et al., 2008). The standards that was set place will be shown and if they were effective
for the company. Additional components will be given that can also help the organization with the
effective ways stress on the job was handed. Some companies spend numerous of dollars to make
sure that employees are treated for their illness. I will show the cost of treatment and if manage
correctly all employees could benefit from training. A comparison to other organization 's stress
management program with how other stress models might be implemented will be given as well.
According to (Donaldson et al., 2008) Work–related stress is now a major concern for employers.
In the UK, Health and Safety Executive (HSE) conducted a survey with Chartered Institute of
Personnel and Development (CIPD, 2007), shows that work–related stress, depression or anxiety
account for an estimated 12.8 million lost working days per year. Around one in seven working
individuals think their job

Asynchronous Technologies Support Learning And Teaching
Now that the LMS for the organization has been identified, the committee will determine the
different assets that can be integrated into the LMS. The committee must also decide if the material
will be delivered to the students synchronously, asynchronously, or as a combination of the two.
Synchronous learning environments support learning and teaching and offer students and teachers
with multiple ways of interacting, sharing, and the ability to collaborate and ask questions in real–
time through synchronous learning technologies. Examples of synchronous online technology types
include videoconferencing, webcasts, interactive learning models, and telephone conferences (Er et
al., 2009; eLearners.com, 2012). In an asynchronous learning environment students are able to
actively participate in their own learning, giving them the opportunity to interact with their peers,
provide peer feedback, and reflect on the status of their personal learning goals and outcomes
(Harris et al., 2009; Simonson et al., 2012). Asynchronous technologies support learning and allow
more time for student reflection, collaboration, and student–to–student interactions (Skylar, 2009;
Meloni, 2010). According to Meloni (2010) asynchronous communication and learning is by far the
more popular learning type because many of the learning tools are free, require minimal hardware,
and are used at the student's pace. Recent research into the usage and efficacy of synchronous tools
has indicated that these

Is Lm Model On Economics Of The Twentieth Century?
IS–LM Model Mr. Keynes and the Classics; A Suggested Interpretation is a classic journal written
by John R. Hicks, who has left huge impact on Economics of the twentieth century. John Hicks
introduced the beginning of IS–LM economic model, which set up basic system of
Macroeconomics to the world through this journal. This journal could be considered as an attempt to
interpret and reassess Mr. Keynes' General Theory of Empoyment within the typical classic theory
framework and compare Keynes' view and classical economists' view. Mr. Hicks starts with setting
the typical classical theory in a form that is similar to that where Mr. Keynes does his. He makes the
same assumptions for the theory as Mr. Keynes does, which is first, the quantity of factors of
production is all fixed and second, only homogeneous labor is counted and the last, depreciation can
be neglected. Consequently, Mr. Hicks comes up with three equations. 1. M = kI, where M is the
given quantity of money and I is the total income. This suggests that the quantity of money and the
total income depend on the other. 2. Iχ = C(i), where Iχ is the amount of investment and i is the rate
of interest. This explains investment is determined by the interest rate. 3. Iχ = S(i, I). The last
equation is driven as saving equals investment, which is, again, determined by the interest rate. John
Hicks then presents the three equations from Mr. Keynes's General Theory of Employment that are a
bit different from the ones

Science Of Economics By Neuroscientist Marco Iacaboni
4. Mirror neurons are a major component in brain functioning, and thus it gives them a primary role
in pscyho–economic reasoning. Their integral nature in decision–making produces various outlying
effects like contagion and feeds into instinctual behaviors such as confidence. The neurons, which
were popularized within the field of economics by neuroscientist Marco Iacaboni, have since played
a big role in discerning group dynamics. Mirror neurons themselves are a pivotal factor in bridging
perception and action as they help prep responses. As discovered by four Italian scientists in Parma,
Italy, mirror neurons fire as a function of perception, but it may not lead to any discernable action.
Put more straightforward, mirror neurons are a set of neurons that produce a mirror like firing
sequence in response to a stimulus, but they do not necessarily cause any physical motor reaction.
The scientists who first proposed this phenomenon showed that neurons present in the premotor
cortex of macaque monkeys showed near parallel bursts of activity between a perception and actual
execution of a particular task, in this case grasping an object. Mirror neurons are unique as they are
universal in the brain. They mirror actions, emotions, and even potentially sentiments. Moreover,
Iacaboni even went as far to suggest they serve as the basis for complex states such as morality. In
this sense mirror neurons have the potential to be major factors within group dynamics as they can

Essay On Adaptive Filters
Adaptive filters have been successfully applied to diverse fields including communications, speech
recognition, control systems, radar, seismology and biomedical engineering. Among various types of
adaptive algorithms, the least–mean–square (LMS) algorithm is well known and widely adopted due
to its simplicity and robustness to initial condition and noise. The performance of the LMS
algorithm, in terms of convergence rate, maladjustment, mean–square error (MSE), and
computational cost, is governed by the step– size. The frequency–domain (FD) adaptive filter
algorithm is known to be able to reduce the numerical complexity by using the overlap–and–save
implementation method. It incorporates block updating strategies where the fast Fourier ... Show
more content on Helpwriting.net ...
A variable step–size algorithm is proposed in,by focusing on achieving low residual error
specifically for the acoustic echo cancellation applications and also lacks of convergence analysis.
Thus, we are motivated to develop an FD step–size control for LMS algorithm. Our objective is to
achieve both fast convergence and low steady–state error, and to provide theoretical analysis on the
convergence. A new bin–wise block–varying step size for the FD LMS algorithm. The optimal
solution of step size at each iteration is derived by cancelling the a posteriori error in each frequency
bin, and its estimate is connected to the magnitude–squared coherence (MSC) function. This
Performs better than the existing FD algorithm in terms of both convergence rate and mean square
deviation (MSD). Furthermore, compared to the TD algorithm, the proposed method converges
faster in the presence highly of correlated filter input. 5.1.1 frequency–Domain Variable Step–Size
LMS The derivation of the proposed FD step size control algorithm,

Complications Of Engineering And Engineering
In almost any quantitative field of research (as well as in applied science), the researcher (or, e.g.,
engineer or economist) frequently needs to fit a parametrized function to observed data. In some
cases to make interpolations or extrapolations; the engineer may be interested in values between
expensive measurement points, and the economist may be interested in giving a prognosis for the
future. In other cases, the parameters (–– removed HTML ––) themselves (–– removed HTML ––)
can be the primary interest. In nuclear physics, it can be of interest to know the fraction of nuclear
reactions yielding a particular reaction product; this is an example we will return to repeatedly
throughout this paper, starting in Sec. (–– removed HTML ... Show more content on Helpwriting.net
...
Everything is presented in general terms, allowing for any type of data covariance matrix, i.e., not
only to uncorrelated observations. (–– removed HTML ––) (–– removed HTML ––) It is often
fruitful to adopt a Bayesian view, in which the parameters of the fitting function can have a prior
distribution (prior to observing the data), and from fitting, the posterior distribution is obtained.
Informally stated, we have an idea about some of the parameters before observing the data (see Sec.
(–– removed HTML ––) I A (–– removed HTML ––) for an illuminating example), and we wish to
include this knowledge in our final estimate of the parameters and/or the fitted function. It is a
standard procedure to incorporate such a prior distribution in linear least squares, and it can be
included in the LM algorithm by, formally, treating the prior information as an additional set of data.
In this work, however, it is clearly presented how the data and the prior information can be separated
by exploiting the structure of the involved matrices and vectors, see Sec. (–– removed HTML ––) II
B (–– removed HTML ––) . (–– removed HTML ––) (–– removed HTML ––) Unfortunately, it is
not enough that models often are non–linear; even worse, they are often (not to say always) (––
removed HTML ––) wrong (–– removed HTML ––) . That is, whatever parameters we choose, it is
impossible to reproduce the truth which is lying behind the observed data. We call this a model
defect. Model defects can

Literature Review On Blended Language Learning
Literature Review
This section discusses the fundamental concepts of blended language learning. It highlights basic
issues such as constructivism, eLearning, blended learning and Blackboard Learning Management
System (LMS) definitions, purposes, and advantages. It also reviews previous research that relevant
to the use of Blackboard in blended language environment in higher education.
Introduction
Constructivism is a theory of knowing and a way of examining how humans learn (Fosnot, 1996).
Constructivist learning theory pertains to the engendering and constructing of knowledge based on
one's experience (Vygotsky 1978). The Constructivist theory of Jerome Bruner (1996) provides the
learner with opportunities to reflect on their experiences. ... Show more content on Helpwriting.net
...
The limited time and the expanded classes usually hamper the effectiveness of learning and teaching
of language. The result is an increase in the demand to construct a learning environment for
language in both the traditional and non–traditional modes that foster autonomous learning in an
out–of–classroom setting. The presumption with this notion is that traditional classroom teaching is
inadequate in making students hone their independent skills for language learning. Technology–
based language learning firmly adheres to the ideology that asserts that learners must develop their
goals throughout their learning process and to be capable of planning and reflecting, as well as
directing, their respective learning experiences (Chang,

Neoclassical Theory Of Keynesian Theory

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