this is notes on chapter 2 of ten principles of economics by mankiw. topics covered:
THE ROLE OF ASSUMPTIONS
ECONOMIC MODELS
THE CIRCULAR-FLOW DIAGRAM
THE PRODUCTION POSSIBILITIES FRONTIER
MICROECONOMICS AND MACROECONOMICS
THE ECONOMIST AS POLICY ADVISER
this is short notes on chapter 2 of ten principles of economics by manikiw
Mankiew chapter 7 Consumers, Producers, and the Efficiency of MarketsAbd ELRahman ALFar
What is consumer surplus? How is it related to the demand curve?
What is producer surplus? How is it related to the supply curve?
Do markets produce a desirable allocation of resources? Or could the market outcome be improved upon?
Mankiew chapter 7 Consumers, Producers, and the Efficiency of MarketsAbd ELRahman ALFar
What is consumer surplus? How is it related to the demand curve?
What is producer surplus? How is it related to the supply curve?
Do markets produce a desirable allocation of resources? Or could the market outcome be improved upon?
Foundation Engineering: Sub-surface investigations—scope, drilling bore holes, sampling, plate load test, standard
penetration and cone penetration tests; Earth pressure theories—Rankine and Coulomb; Stability of slopes—finite and
infinite slopes, method of slices and Bishop’s method; Stress distribution in soils—Boussinesq’s and Westergaard’s
theories, pressure bulbs; Shallow foundations—Terzaghi’s and Meyerhoff’s bearing capacity theories, effect of water table;
Combined footing and raft foundation; Contact pressure; Settlement analysis in sands and clays; Deep foundations—types
of piles, dynamic and static formulae, load capacity of piles in sands and clays, pile load test, negative skin friction.
Soil Mechanics: Origin of soils, soil structure and fabric; Three-phase system and phase relationships, index properties;
Unified and Indian standard soil classification system; Permeability—one dimensional flow, Darcy’s law; Seepage through
soils—two-dimensional flow, flow nets, uplift pressure, piping; Principle of effective stress, capillarity, seepage force
and quicksand condition; Compaction in laboratory and field conditions; One-dimensional consolidation, time rate of
consolidation; Mohr’s circle, stress paths, effective and total shear strength parameters, characteristics of clays and sand.
Soil Mechanics: Origin of soils, soil structure and fabric; Three-phase system and phase relationships, index properties;
Unified and Indian standard soil classification system; Permeability—one dimensional flow, Darcy’s law; Seepage through
soils—two-dimensional flow, flow nets, uplift pressure, piping; Principle of effective stress, capillarity, seepage force
and quicksand condition; Compaction in laboratory and field conditions; One-dimensional consolidation, time rate of
consolidation; Mohr’s circle, stress paths, effective and total shear strength parameters, characteristics of clays and sand
Foundation Engineering: Sub-surface investigations—scope, drilling bore holes, sampling, plate load test, standard
penetration and cone penetration tests; Earth pressure theories—Rankine and Coulomb; Stability of slopes—finite and
infinite slopes, method of slices and Bishop’s method; Stress distribution in soils—Boussinesq’s and Westergaard’s
theories, pressure bulbs; Shallow foundations—Terzaghi’s and Meyerhoff’s bearing capacity theories, effect of water table;
Combined footing and raft foundation; Contact pressure; Settlement analysis in sands and clays; Deep foundations—types
of piles, dynamic and static formulae, load capacity of piles in sands and clays, pile load test, negative skin friction.
Mathematics and Apti for GATE
Linear Algebra: Matrix algebra; Systems of linear equations; Eigen values and Eigen vectors.
Calculus: Functions of single variable; Limit, continuity and differentiability; Mean value theorems, local maxima and
minima, Taylor and Maclaurin series; Evaluation of definite and indefinite integrals, application of definite integral to
obtain area and volume; Partial derivatives; Total derivative; Gradient, Divergence and Curl, Vector identities, Directional
derivatives, Line, Surface and Volume integrals, Stokes, Gauss and Green’s theorems.
Ordinary Differential Equation (ODE): First order (linear and non-linear) equations; higher order linear equations with
constant coefficients; Euler-Cauchy equations; Laplace transform and its application in solving linear ODEs; initial and
boundary value problems.
Partial Differential Equation (PDE): Fourier series; separation of variables; solutions of one-dimensional diffusion
equation; first and second order one-dimensional wave equation and two-dimensional Laplace equation.
Probability and Statistics: Definitions of probability and sampling theorems; Conditional probability; Discrete Random
variables: Poisson and Binomial distributions; Continuous random variables: normal and exponential distributions;
Descriptive statistics - Mean, median, mode and standard deviation; Hypothesis testing.
Numerical Methods: Accuracy and precision; error analysis. Numerical solutions of linear and non-linear algebraic
equations; Least square approximation, Newton’s and Lagrange polynomials, numerical differentiation, Integration by
trapezoidal and Simpson’s rule, single and multi-step methods for first order differential equations
Transportation Infrastructure: Highway alignment and engineering surveys; Geometric design of highways—crosssectional elements, sight distances, horizontal and vertical alignments; Geometric design of railway track; Airport runway
length, taxiway and exit taxiway design.
Highway Pavements: Highway materials—desirable properties and quality control tests; Design of bituminous paving
mixes; Design factors for flexible and rigid pavements; Design of flexible pavement using IRC: 37—2012; Design of rigid
pavements using IRC: 58—2011; Distresses in concrete pavements.
Traffic Engineering: Traffic studies on flow, speed, travel time—delay and O-D study, PCU, peak hour factor, parking
study, accident study and analysis, statistical analysis of traffic data; Microscopic and macroscopic parameters of traffic flow,
fundamental relationships; Control devices, signal design by Webster’s method; Types of intersections and channelization;
Highway capacity and level of service of rural highways and urban roads.
Fluid Mechanics: Properties of fluids, fluid statics; Continuity, momentum, energy and
corresponding equations; Potential flow, applications of momentum and energy
equations; Laminar and turbulent flow; Flow in pipes, pipe networks; Concept of
boundary layer and its growth.
Structural Analysis: Statically determinate and indeterminate structures by force/ energy
methods; Method of superposition; Analysis of trusses, arches, beams, cables and frames;
Displacement methods: Slope deflection and moment distribution methods; Influence
lines; Stiffness and flexibility methods of structural analysis.
Solid Mechanics: Bending moment and shear force in statically determinate beams;
Simple stress and strain relationships; Theories of failures; Simple bending theory, flexural
and shear stresses, shear centre; Uniform torsion, buckling of column, combined and
direct bending stresses.
Compass surveying
Bearing
Whole circle bearing and reduced bearing
Conversion of bearings
Computation of angles
Declination and dip
Local attraction
Isogonic Lines
Agonic Lines
Detecting local attraction
For detecting local attraction it is necessary to take both fore bearing and back bearing for each line.
If the difference is exactly 180°, the two stations may be considered as not affected by local
attraction.
If difference is not 180°, better to go back to the previous station and check the fore bearing. If that
reading is same as earlier, it may be concluded that there is local attraction at one or both stations.
What is pointing?
Scope of pointing
Method of pointing
What is plastering?
Objective of plastering
Lime plaster
Cement plaster
Gypsum plaster (plaster of Paris)
Water proof plaster of Mortar
Heat resistant plasters
Defects in plastering
1.Stretcher bond
2.Header bond
3.English bond and
4.Flemish bond.
what is ventilation?
Functional requirements of a Ventilation system
Natural ventilation
•Mechanical ventilation
Single sided ventilation
Single sided double ventilation
Cross ventilation
Stack effect
Artificial ventilation
What is roof?
Types of roofs
Gable roof
Hip roof
Dutch hip roof
Valley shapes
The cost of production/Chapter 7(pindyck)RAHUL SINHA
content
•MEASURING COST: WHICH COSTS MATTER?
•Fixed and variable cost
•Fixed versus sunk cost
•Amortizing Sunk Costs
•Marginal cost
•Average cost
•Determinants of short run cost
•Diminishing marginal returns
•The shapes of cost curves
•The Average–Marginal Relationship
•Costs in a long run
•Cost minimizing input choices
•Isocost lines
•Marginal rate of technical substitution
•Expansion path
•The Inflexibility of Short-Run Production
•Long run average cost
•Economies and Diseconomies of Scale
•The Relationship Between Short-Run and Long-Run Cost
•Break even analysis
What are folds?
•Parts of the folds
•Classification of folds
•Classification on the basis of axial planes
•Classification on the basis of curvature(by Ramsay)
•Classification on the basis of plunge
•Engineering considerations
cost of production / Chapter 6(pindyck)RAHUL SINHA
topics covered
•Production and firm
•The production function
•Short run versus Long run
•Production with one variable input(Labour)
•Average product
•Marginal product
•The slopes of the production curve
•Law of diminishing marginal returns
•Production with two variable inputs
•Isoquant
•Isoquant Maps
•Diminishing marginal returns
•Substitution among inputs
•Returns to scale
•Describing returns to scale
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
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Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
2. THE ROLE OF ASSUMPTIONS
Economists make assumptions for the following reason:
•Make the world easier to understand.
•For example-To study the effects of international trade, we may assume that the world consists of only two countries and that each country produces only two goods. Assuming two countries and two goods, we can focus our thinking.
3. ECONOMIC MODELS
• THE CIRCULAR-FLOW DIAGRAM
•THE PRODUCTION POSSIBILITIES FRONTIER
4. THE CIRCULAR-FLOW DIAGRAM
• It may be defined as a visual model of the economy that shows how dollars flow through markets among households and firms.
•Figure in the next slide presents a visual model of the economy, called a circular-flow diagram.
5. This diagram is a schematic representation of the organization of the economy. Decisions are made by households and firms. Households and firms interact in the markets for goods and services (where households are buyers and firms are sellers) and in the markets for the factors of production (where firms are buyers and households are sellers). The outer set of arrows shows the flow of dollars, and the inner set of arrows shows the corresponding flow of goods and services.
Figure 1
6. •In this model, the economy has two types of decision makers— households and firms.
•Firms produce goods and services using inputs, such as labour, land, and capital (buildings and machines). These inputs are called the factors of production.
• Households own the factors of production and consume all the goods and services that the firms produce.
•Households and firms interact in two types of markets. In the markets for goods and services, households are buyers and firms are sellers.
7. •In the markets for the factors of production, households are sellers and firms are buyers. In these markets, households provide firms the inputs that the firms use to produce goods and services.
•The inner loop of the circular-flow diagram represents the flows of goods and services between households and firms.
•The households sell the use of their labour, land, and capital to the firms in the markets for the factors of production.
•The firms then use these factors to produce goods and services, which in turn are sold to households in the markets for goods and services. Hence, the factors of production flow from households to firms, and goods and services flow from firms to households.
8. •The outer loop of the circular-flow diagram represents the corresponding flow of dollars. The households spend money to buy goods and services from the firms.
•The firms use some of the revenue from the sales to pay for the factors of production, such as the wages of their workers. Left is the profit of the firm owners, who themselves are members of households.
•A more complex and realistic circular-flow model would include, for instance, the roles of government and international trade.
9. THE PRODUCTION POSSIBILITIES FRONTIER
•It may be defined as a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.
•Let us imagine an economy that produces only two goods—cars and computers. Together the car industry and the computer industry use all of the economy’s factors of production. Figure is showed in the next slide.
10. The production possibilities frontier shows the combinations of output—in this case, cars and computers—that the economy can possibly produce. The economy can produce any combination on or
inside the frontier. Points outside the frontier are not feasible given
the economy’s resources.
Figure 2
11. •In this economy, if all resources were used in the car industry, the economy would produce 1,000 cars and no computers.
• If all resources were used in the computer industry, the economy would produce 3,000 computers and no cars.
•The two end points of the production possibilities frontier represent these extreme possibilities.
•If the economy were to divide its resources between the two industries, it could produce 700 cars and 2,000 computers, shown in the figure by point A.
•The outcome at point D is not possible because resources are scarce: The economy does not have enough of the factors of production to support that level of output.
12. •In other words, the economy can produce at any point on or inside the production possibilities frontier curve, but it cannot produce at points outside the frontier curve.
• An outcome is said to be efficient if the economy is getting all it can from the scarce resources available.
• Points on the production possibilities frontier represent efficient levels of production.
• Point B represents an inefficient outcome.
• For some reason, the economy is producing less than it could from the resources it has available. It is producing only 300 cars and 1,000 computers. If the source of the inefficiency were eliminated, the economy could move from point B to point A, increasing production of both cars (to 700) and computers (to 2,000).
13. •People face tradeoffs. The production possibilities frontier shows one trade-off that society faces. Once we have reached the efficient points on the frontier, the only way of getting more of one good is to get less of the other. When the economy moves from point A to point C, society produces more computers but at the expense of producing fewer cars.
•The production possibilities frontier shows the opportunity cost of one good as measured in terms of the other good. When society reallocates some of the factors of production from the car industry to the computer industry, moving the economy from point A to point C, it gives up 100 cars to get 200 additional computers.
•In other words, when the economy is at point A, the opportunity cost of 200 computers is 100 cars.
14. •Notice that the production possibilities frontier is bowed outward. This means that the opportunity cost of cars in terms of computers depends on how much of each good the economy is producing. When the economy is using most of its resources to make cars, the production possibilities frontier is quite steep. Because even workers and machines best suited to making computers are being used to make cars, the economy gets a substantial increase in the number of computers for each car it gives up. when the economy is using most of its resources to make computers, the production possibilities frontier is quite flat. In this case, the resources best suited to making computers are already in the computer industry, and each car the economy gives up yields only a small increase in the number of computers.
15. •The production possibilities frontier shows the trade-off between the production of different goods at a given time, but the trade-off can change over time. For ex- if a technological advance in the computer industry raises the number of computers that a worker can produce per week, the economy can make more computers for any given number of cars. As a result, the production possibilities frontier shifts outward. Because of this economic growth, society might move production from point A to point E, enjoying more computers and more cars.(figure 3 in next slide)
16. An economic advance in the computer industry shifts the production possibilities frontier outward, increasing the number of cars and computers the economy can produce.
Figure 3
17. MICROECONOMICS AND MACROECONOMICS
•The field of economics is traditionally divided into two broad subfields.
•Microeconomics is the study of how households and firms make decisions and how they interact in specific markets.
•Macroeconomics is the study of economy-wide phenomena, including inflation, unemployment, and economic growth.
•Microeconomics and macroeconomics are closely intertwined. Because changes in the overall economy arise from the decisions of millions of individuals, it is impossible to understand macroeconomic developments without considering the associated microeconomic decisions.
•For example, a macroeconomist might study the effect of a cut in the federal income tax on the overall production of goods and services. To analyze this issue, he or she must consider how the tax cut affects the decisions of households about how much to spend on goods and services.
18. THE ECONOMIST AS POLICY ADVISER
•When economists are trying to explain the world, they are scientists. When they are trying to help improve it, they are policy advisers.
POSITIVE VERSUS NORMATIVE ANALYSIS
•Positive statements-claims that attempt to describe the world as it is.
•Normative statements- claims that attempt to prescribe how the world should be.
•For example, suppose that two people are discussing minimum-wage laws. Here are two statements you might hear:
POLLY: Minimum-wage laws cause unemployment.
NORMA: The government should raise the minimum wage.
Note that Polly is speaking like a scientist: She is making a claim about how the world works. Norma is speaking like a policy adviser: She is making a claim about how she would like to change the world.