Warning Flash Flood free essay sample

Humans are born saplings. Vulnerable at first, we begin to grow and branch out. Each person is different; they could be a vibrant spruce or a steadfast sequoia. Together we grow up in communities and with institutions or, in other words, forests. Other trees that influence our growth surround us. I fancy myself as an Apple Blossom Dogwood in full bloom. My vibrant personality emanates from my rosy flowers. As a sixth grader in the familiar woods of St. Michael’s Parish Day School, I first met Jose Rincon. Jose was a Sycamore tree. One day he would be tall and steadfast, always reaching for the highest goal. In a small class of approximately forty-five students it was easy to know everyone, but I never talked much with Jose until eighth grade. I sat behind Jose in history class and we were lab partners for science. At the time, I never thought much about our relationship. We will write a custom essay sample on Warning: Flash Flood or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Whenever we received history test scores, I would anxiously poke his red polo covered back to inquire about his grade. He always scored higher than I. Then in science we would giggle in the back of the room while Mr. Smith, our science teacher with a bushy walrus mustache, would sarcastically guide us through the dissection of a starfish. Jose was brilliant. He was a proud, yet awkward, Hispanic Sycamore sapling with spiky gelled hair that he never let anyone touch, complete with glasses and braces. We were not best friends or even close friends, but his smile was infectious and we regularly were reprimanded for talking and laughing. On Saturday, January 12, 2008, Jose and I, along with most of our class, took the placement test for a private Catholic high school. After the test and amongst the thicket of middle school saplings, we waved goodbye and went our separate ways. I spent that night at my friend Olivia â€Å"Liv† Wolfe’s house. The next morning, Olivia and I were deciding between watching the movie Knocked Up and the television series, Laguna Beach, when her mother called us to breakfast. Sleepily I dragged myself into the kitchen table and plopped down in a seat. Mrs. Wolfe was sorting through the morning newspaper on the island while Mr. Wolfe flipped golden brown pancakes on the stove. I watched her parents lazily while Liv ran to her room to answer her ringing phone. I thought nothing of it as it was probably our friend Nicole calling Liv about seeing a movie. Before I knew what was happening my entire life changed. â€Å"No! No! You’re lying! No!† Liv screamed from the other room. This was not the joking squeal for which teenage girls are infamous. This scream was filled with shock and pain. Everyone in the kitchen froze and my mind raced. Liv slowly stumbled into the kitchen doorway from the hall, her face stricken with disbelief. Still clutching the phone and shaking, she choked, â€Å"Jose died†. The flash flood hit me so hard I could not breathe. Despite being rooted to the forest floor, I felt as though I had been dragged under and did not know which direction the surface was. My lungs were screaming for air while my stomach plummeted to the ground and my heart was ripped into infinite pieces. All I could manage to stammer was â€Å"what†¦?† â€Å"Jose is dead. Nicole just called me. Isabel, Jose is dead.† Numb. I could not and would not feel. Not really aware of what I was doing, I walked towards Liv and together we went to her room. I burst into tears. I could no longer repress the overwhelming grief of losing a classmate. Liv and I called other classmates to confirm that Jose was actually gone. By the time I called my parents I was hysterical. That afternoon my eighth grade class and their parents gathered at St. Michael’s to inform everyone about what had happened and help ease the pain. Nothing could ease the pain of a drunken woman swerving off the road and hitting Jose while he rode his bike with another classmate of mine. That night I experienced an unsettling epiphany. Children have the tendency to believe that, because they are young and have their entire lives ahead of them, they are impervious to anything that may cause them serious harm or kill them. In a moment of sheer terror I realized that I could die. I was not guaranteed a long, happy life simply because I was born. I had experienced the death of an elderly person, but it was natural for an old person to die. It was unnatural and wrong for a thirteen-year-old to die. A sapling had been swept away in a flash flood. There was no warning and no time for him to prepare himself for the coming storm. The rest of the woods remained intact except for the void where Jose had been unjustly uprooted and carried off. He left behind both his parents and two sisters along with the many lives he had touched. Everyone experienced the flash flood and some will never recover. In l ight of the tragedy, I learned that there is a reason roots grow so deep into the ground. A tree’s roots give it life. We are all rooted in our communities, families, countries, religions, sports teams, and clubs. Through those roots we gain strength. Whatever natural disaster may come, our roots are there to anchor us and keep us grounded despite the hurricanes, tornados, or tsunamis. We never know what could happen to us, but losing Jose taught me to be grateful for the things I have thus far and realize that I could lose everything in a second. I was not prepared for that loss, but I know now to be grateful for every day and for the wonderful people in my life with whom I am blessed. Because of Jose, I no longer take the precious gift of life for granted.

Abortion And Ethics Essays - Fertility, Gender Studies, Free Essays

Abortion And Ethics Essays - Fertility, Gender Studies, Free Essays Abortion And Ethics Abortion Question What would happen if I were to walk into a crowded restaurant and opened fire on the people inside, killing one? Well, more than likely I would be hauled off to jail and sentenced for murder. If murder is illegal then how come everyday women are continually having abortions? What is the difference between abortion and murder both of them involve taking the life of a living human being. How come the question of abortion is still undecided? If it is illegal to go out and kill someone then it should be illegal to receive an abortion. Abortion, many women feel that abortions do not take the life of a living human being. Wrong, from the moment of conception that baby is a living, breathing creation of God. Plus most women have abortions during the third trimester of pregnancy. In the third trimester the baby is developing lungs, arms and legs and is starting to develop fingers and toes. So during many abortions the baby is breathing, kicking, and very alive. There are many ways that abortions are performed. There is the partial-birth abortion, salt poisoning, and the suction or vacuum. However abortions are performed they are cruel and unnecessary. There are many other options besides having an abortion like adoption. There are millions of couples around the world that want so badly to have a child and then there are the millions that are destroying babys everyday. The abortion procedures go as followed: Partial-Birth Abortions- when the baby is partially delivered and then the doctor jam a pair of scissors into the back of the babys skull. Then the scissors are removed and a suction tube is placed inside of the babys skull. The tube is then turned on and the powerful suction sucks the babys brains out. Then the baby is delivered the rest of the way and tossed aside like a rag doll. The partial-birth abortion is the most widely used abortion technique. Salt Poisoning abortions take place when the mother has a doctor inject into the uterus a saline solution. The solution travels its way down into the babys lungs and starts to burn. The salt beings eating away at the babys lungs and basically suffocates the baby. Most babies that are aborted by the salt poisoning method will look like bright red candy apples. This is because the salt burns the layers of babys skin making them bright red. The salt poisoning method is the most painful for the baby because it takes up to hours for them to die and then some are born still alive. The last abortion technique is the vacuum. Vacuum abortions start out with the doctor inserting a power suction tube into the uterus where the baby is. Then the suction is turned on and by the guide of the sonogram picture the doctor starts sucking off limbs of the baby. The baby is fully alive and moving when the suction grabs a hold of the babys arms or legs and rips them off. All that is left in the uterus after everything is sucked out is the head. Then the doctor inserts a pair of forceps and crushes the skull of the baby so the suction tube can remove it. The baby is not the only one that suffers; many mothers that have abortions may put themselves at risk of infertility, depression, or even death. Post Abortion Syndrome may cause; if not treated depression and may even make the mother resort to suicide. Infertility may happen if the doctor slips and cuts parts of the uterus or the fallopian tubes. Death happens when the doctor cuts part of the uterus and the fallopian tubes causing internal bleeding. She was a young mother, single and carrying a second child, struggling to survive on minimum wage and welfare. He was a prominent man that had built himself a career out of performing abortions on women. During a routine abortion their fates collided. Within hours Sharon Hampltlon was dead and Bruce Steir was fighting for his freedom. At the center of the case is Steir who performed about 1,000 abortions each year, mostly at clinics in Sacramento, Chico, Santa Rosa, Redding, and Oakland. A couple

Not all hybrids have electric motors and batteries

Not all hybrids have electric motors and batteries When it comes to transportation, hybridization is not new. Hybrid cars and trucks that combine an electric motor with a gasoline engine date back to the turn of the 20th century. Hybrid diesel-electric locomotives have been in operation for years, and in the 1970s, small numbers of diesel-electric buses began to appear. On a smaller scale, a moped is a hybrid - it combines the power of a gasoline engine with the pedal power of the rider. So, any vehicle that combines two or more sources of power is considered a hybrid vehicle (HV). Today, when hybrid and vehicle are used together - think Toyota Prius, Ford Fusion Hybrid or Honda Civic Hybrid - that vehicle, according to the U.S. Department of Energy, is a hybrid electric vehicle (HEV). Each of these vehicles combine an internal combustion engine (ICE) and an electric motor that receives electricity from a battery pack. Today’s gasoline- and diesel electric hybrid systems are very complex, high-tech wonders in design and operation. Components include controllers, generators, converters, inverters, regenerative braking and, of course, a battery pack - either nickel-metal hydride or lithium ion. HEVs offer benefits that their conventional gasoline or diesel counterparts do not have - increased fuel economy and fewer harmful emissions coming out the tailpipe. But to achieve the same results not all hybrid vehicles require electric motors and batteries. Here’s a look at three alternative hybrid systems. One is now employed in big trucks and could find its way into cars, one is likely to appear in a 2016 BMW and the third could be on the road in three years. Hydraulic - Not Just For The Big Dogs Last August I featured an article about a hydraulic hybrid system that has made its way into big diesel refuse trucks, the ones that come around once a week and pick up our trash. On a good day, a garbage hauler will eke out 4 to 5 mpg. Then there are all those icky, nasty pollutants pouring out of the exhaust stacks. But thanks to the United States Environmental Protection Agency (EPA), yes, those same government folks who monitor environmental laws and fuel mileage testing, a hydraulic hybrid system they pioneered increases fuel economy in the big rigs by as much as 33 percent and reduces carbon dioxide (CO2) by 40 percent. The principal of the hydraulic system is similar to a HEV. It recovers a portion of the energy normally lost as heat by the vehicle’s brakes. But instead of a battery pack, a hydraulic system uses pistons to capture the wasted energy by compressing nitrogen gas stored in a tank, called an accumulator. When the driver lets off the accelerator pedal, the wheels drive a hydraulic pump that pumps hydraulic fluid to compress the nitrogen gas and slows the truck down. When the driver accelerates, the nitrogen is allowed to expand and pushes a piston in a cylinder filled with hydraulic fluid. This action assists the diesel engine in turning the rear wheels. The hydraulic system performs remarkably well on the big dog trucks, but what about light duty trucks or passenger cars? The Center For Compact and Efficient Fluid Power (CCEFP), a National Science Foundation Engineering Research Center in Minneapolis, Minnesota is working on that. The center’s â€Å"Generation 2† vehicle - a Ford F-150 pickup - utilizes a custom-built continuously variable power split hydraulic transmission. It is complemented with hydraulic accumulators to enable hybrid operation. To be competitive, the system must demonstrate advantages over BEVs. Design specifications for the vehicle include: vibration and harshness comparable to a passenger vehicle; a 0 to 60 mph time of 8 seconds; climb a grade of 8 percent; emissions that meet California standards; and the big one, fuel economy of 70 mpg under the federal drive cycles. Steaming Along Twin brothers Francis and Freelan Stanley, inventors of the Stanley Steamer, would likely approve of BMW’s innovative use of the same principal that worked to power their steam engine cars more than 100 years ago to improve the efficiency in modern vehicles. Called Turbosteamer, this system uses wasted heat energy from an engine’s wasted exhaust gases to contribute power to the automobile. This steam assist system starts with a heat exchanger located between the engine and the catalyst that turns water into steam. The pressurized steam is then carried to what is essentially a small steam engine. A second, smaller steam engine produces a little more mechanical energy. I began following this technology in 2005 when BMW said the two steam engines combined generated 14 horsepower and 15 pounds-feet of torque on a 1.8-liter four-cylinder engine. Additionally, fuel economy improved by 15 percent in overall driving. The automaker also said it intended to make the Turbosteamer ready for volume production in a number of its vehicles within a decade. Well, it’s 10 years later, will it see production? Since then, researchers and engineers focused on reducing the size of the components and making the system simpler to improve dynamics. They came up with an innovative expansion turbine based on the principle of the impulse turbine. The system is now smaller, costs less and the developers say fuel consumption is reduced by up to 10 percent during highway driving. While the Turbosteamer can’t compare its greenness to the BMW i3 all-electric car, a 10 percent improvement in fuel economy for an â€Å"Ultimate Driving Machine† is nothing to sneeze at. It’s possible a Turbosteamer equipped BMW vehicle will be introduced next year. Not Just A Bunch Of Hot Air The idea that compressed air could power a viable zero emissions car has been pursued for years by many respected engineers. In 2000, there was much ado about a new compressed air, zero pollution vehicle from French inventor and Formula One engine builder, Guy Nà ¨gre. His company, Motor Development International (MDI), rolled out an urban-sized car, taxi, pickup and van that were powered by an air engine. Instead of those tiny, tiny explosions of gasoline and oxygen pushing the pistons up and down, like in a normal internal combustion engine, the all-aluminum four-cylinder air engine used compressed air for the job. A hybrid version, using a small gasoline engine to power an onboard compressor for a constant supply of compressed air, was claimed to be able to travel from Los Angeles to New York on just one tank of gas. In 2007 MDI signed an agreement with Tata Motors, India’s largest automobile manufacturer to produce air cars in 2008, followed by the hybrid version in 2009. No cars were produced. That’s perhaps one of the reasons compressed air-powered cars have been the butt of jokes among the green car community. Today, the number of jokes has diminished. That’s the result of Peugeot’s introduction of the 208 HYbrid Air 2L Prototype at the 2014 Paris Auto in October. (Full Review). It employs a compressed air tank that turns a hydraulic motor for additional power or zero emissions city driving rather than a battery for the same functions. Like a BEV, during normal driving the car is powered by the gasoline engine. Compressed air is called upon for additional power when passing or traversing a hill. In this situation, power from both the engine and hydraulic motor are directed to the front wheels via an epicyclic transmission, similar to the planetary gear set transmission used by the Toyota Prius. In city driving, where less power is needed and emissions-free driving is the priority, rather than power provided by a battery, the compressed air alone motivates the car. The compressed air tank is recharged when braking or by using part of the energy developed by the three-cylinder gasoline engine to compress the air. During the Pairs Show, Peugeot said if another large auto manufacturer would buy into the technology to enable production in enough numbers to assure manufacturing affordability, the HYbrid Air could be on the market in three or so years. Two reports from Europe are suggesting, without naming the car company, that Peugeot has found an interested partner. Last Word It’s not certain that any of these three alternative hybrid systems will be available in production vehicles, and if they are, what kind of an impact they will have in the marketplace. What is clear is, electricity in the drivetrain isn’t the only way to hybridize a vehicle.

Gender Communication Essay Example | Topics and Well Written Essays - 1250 words

Gender Communication - Essay Example However, the major difference that plays a role in determining the manner which men and women communicate is their sexes. In the recent years, linguistics have begun studying the differences in the communication styles, between a man and a woman. The main reason for carrying out these studies is for purposes of identifying the differences in the communication styles that exists between a man and a woman. This in turn would help both men and women to adapt with each other, and hence form a meaningful relationship (Berger, 2006). The differences in these communication affects men and women in a variety of ways, and this includes in any social set up, and examples include in a religious set up, at work, in sports, and even in academics. Therefore, having an understanding on the manner of managing these differences is important in developing a relationship between a man and woman. This paper examines the various differences that exist in the manner which both men and women communicate. The roles that women and men play, is reflected in the manner which they are able to interact with each other, and the methods that they use for purposes of interaction. One of the most important elements that exist in the communication methods of women is to establish and maintain relationship with other people. This is one of the most dominant methods of defining the feminine use of the process of interaction. Berger (2006) explains that women normally use language, for purposes of developing connection, maintaining a sense of closeness, understanding each other, and providing support to each other. These are some of the essential elements that are needed for any relationship to be formed. Berger (2006) further explains that women normally value creating equality through achieving of asymmetry. In their communication, women are also known for expressing their emotions, and using language that can help in

Neoliberalism, growth and Accumulation Essay Example | Topics and Well Written Essays - 1000 words

Neoliberalism, growth and Accumulation - Essay Example On the other hand, Japan went through a period of economic stagnation resulting from declining land prices while the unification of Germany also contributed to the slow economic growth in Europe. Essentially, all these observations imply that after the neoliberal changes that occurred from the perspective of the state and economy, the macroeconomic variables including inflation, interest and unemployment rates and aggregate outputs were affected (Glyn, 2006). In view of this, this paper will examine to what extent the macroeconomic variables of the neoliberal era are the result of neoliberal changes to the state and economy. By the 1970s, neoliberalism was increasingly becoming the prominent governance form in many economies of the world with its political ideals of liberating markets from governmental influences and interferences (Kotz, 2002). Seen as another way of looking at finance-led capitalism, neoliberalism was adopted in the place of capitalism after 1978. Neoliberalism came into being as a theory of political-economic practices founded on the notion that the well-being of humans will be guaranteed when individual entrepreneurial skills and freedoms are liberated in institutional frameworks with private property rights and free markets (Harvey, 2005). It follows, therefore, that neoliberal ideas and changes altered the way states operated and heavily promoted market-based economies that valued competition and efficiency highly. According to Campbell (2005), it was the exit of the state from its role in managing capital that led to the success of free markets and led to exceptional growth especi ally in the US. Therefore, financial liberalization led to growth in aspects such as consumption, investment in private business, financial internalization, land prices and technological productivity (Glyn, 2006). However, it is imperative to note that such growth and stability was mainly in the US because globally, the economy was facing

Family on Government and vice versa Essay Example for Free

Family on Government and vice versa Essay As far as the government’s functions go, it is the unit of the family that is able to gain the most benefits. I view the family as the most basic and the most unprotected aspect of society. It is the government’s ability to provide regulations, guidelines, and protection that the family is able to continue its development. It might be raised at this point that the individual should be considered the most unprotected unit of society. However, I persist in believing that it is the family. The individual can still become a member of larger societal units. In fact, the individual can even go so far as to become a member of government. It is because of this fact that the collection of individuals called the family is the most in need of the services offered by the government that presides over it. However, there are forms of government wherein it is the family that comprises it. In oligarchies and monarchies, for example, the royal family comprises the governmental unit. It is in these cases that the interaction is reduced to one of family with family, of ruling class family with non-ruling class family, of bourgeois family with lower class family. This can also be likened to the type of interaction described to exist between the family and the society to which it belongs. In other ways, the family is also able to affect the government. Because the family forms the entirety of society and because it is able to mirror the mechanisms of society, it is also able to mirror and spread the mechanisms of government. The family is in charge of the education of the younger generation with regards to the powers of the government, the need to follow the impositions of the government, and also the specific laws and regulations set forth by the constitution. The task of propagating the ethics and morals of a good citizen that obeys the government lie on the shoulders of the members of the family. The concepts of restriction of behavior, meting punishments for unacceptable actions, and of obeying authority figures are also first understood by the child in the confines of the family. (Hegel, 2001) Society on Government and vice versa The government is said to be the regulating institution of society. It represents the majority of the population and provides frameworks as well as maintains peace and order. However, as I have stipulated, I believe that the inherent state in nature is peace and not war. Why then would a government be needed to maintain peace and order between its constituents and even with other governments? The state of war is not inherent in nature. However, it is also very much present in observable society. Why is this so? I believe that war stems from the inability of society to meet the needs of its members. This is in accordance with the propositions of Habermas (1998). Because of the society’s inability to completely meet the needs of its members, there is unrest and turmoil. War and violent conflict arise from these feelings of dissatisfaction. It is only through a strong power of the will that dissatisfaction is allowed to exist in an individual’s consciousness. I believe that the ineffective structuring of society creates feelings of unrest and dissatisfaction. When those with more are given more and those with less are asked for more, society is placed at an imbalance. This imbalance is unnatural. It is not the natural order of things. There is disequilibrium in society and as a result, there are individuals who are abused and unsatisfied. Again, this is also in accordance with the views of Marx and Engel (1978) regarding ruling class and non-ruling class. There is no chance for equilibrium or stability to be attained because as Marx and Engel (1978) stated, the ruling class practices hegemony. They use their ideologies to maintain power over the lower class. It is only with active revolt from the lower class that the structure of society can be changed. Thus war becomes an option to those whose dissatisfaction has become so great that they can no longer live with it. Without the government, these feelings of dissatisfaction would reign across the world. There would, indeed, be numerous states of war across the globe. Peace would be hard to find and individuals would find it impossible to achieve their true personal goals in life. A government is needed in order to regulate the interaction of the ruling class and the non-ruling class. Without the government, society would be in a constant flux of change and revolt. It is the institution of the government that allows society to remain its peace and as such to progress. However, it may well be the case that the government is simply a tool of the ruling class to maintain power, a means to their option of hegemony. This is exactly why even though there are governments in place today, wars still occur. There is still a disequilibrium in the social structure. Also, the government is not representative of the majority. This is a fact stressed by Kant (1983) to be of the utmost importance in considering government models and systems utilized in a given state. There is, therefore, a type of government that will best serve the purposes of society and the individual. Although there are numerous forms of government, not all are adaptive to society and its members. The mode of government is a point of greater consideration than the type of sovereignty afforded. (Kant, 1983) Society, however, plays a greater role in government. It is more than just a place wherein the functions of government can be practiced. In fact, it is my belief that society and government act in much the same way that the President and the House of Congress act in a Republic government. That is that society and government act as checks and balances of each other. Although it is true that there is no clear definition of legal power that society has on a particular government – in the way that government has on society – it is also true that the dominant form of politics in a state are defined by society. Because most governments rely on society’s good will towards it, society is able to check and balance the processes of the government. In modes of government involving votation, society dictates the candidates to be deemed more capable and reliable to place in position. This is done through the ideologies espoused by society. Thus two different political parties can be chosen from but the thrust of the resulting government will be based on the value systems established by society on its members. For modes of government, on the other, hand that do not include an electoral system, society is able to operate as a larger checks and balances system. Because monarchies and oligarchies and other similar forms of government give the ruler the right to decree laws and statutes by himself, society plays a crucial role. Social agreement or social rejection may be the only difference between a ruler’s decree of implementing the death penalty, for example, as a punishment to a severe crime. Thus we see that society plays a large role in defining government actions even in these individualistic or familial forms of governance. On this point, however, the revision and reconsideration of laws in systems with electoral systems and with more formal methods of passing laws is also highly dependent on society’s moral and ethical stand. The three-strike law for example, wherein criminals convicted of a crime three times receive a heavier sentence or a longer imprisonment period, was not revised because the constituents of the State of California did not agree to the provision that only severe crimes would be subject to this law.

The Lasting Effects of the Columbian Exchange During the Age of Discove

The Lasting Effects of the Columbian Exchange During the Age of Discovery It should no longer come as any great surprise that Columbus was not the first to discover the Americas--Carthaginians, Vikings, and even St. Brendan may have set foot on the Western Hemisphere long before Columbus crossed the Atlantic. But none of these incidental contacts made the impact that Columbus did. Columbus and company were bound to bring more than the benefits of Christianity and double entry bookkeeping to America. His voyages started the Columbian Exchange, a hemispherical swap of peoples, plants, animals and diseases that transformed not only the world he had discovered but also the one he had left. The Old and New Worlds had been separated for millions of years before this voyage (except for periodic reconnections in the far north during the Ice Ages). This period of separation resulted in great species divergence and evolvement. There were still many similar species, such as deer and elm, but Europe had nothing like hummingbirds, rattlesnakes, and hickory and pecan trees. The differences were even greater in the southern hemispheres; the biggest mammal in Africa was the elephant, and the biggest mammal in South America was the cow-sized tapir. Both of these environmental systems struggled for a delicate sense of balance and homeostasis-- but their collision in 1492 began a whole new time of competition and struggle for dominance. The environmental impact of such a collision is enormous and should be looked at as part of our understanding of the Age of Discovery. PLANTS Thomas Jefferson once said that, " The greatest service which can be rendered to any country is to add a useful plant to its culture." By this standard, Col... ...opened new windows to science and to all knowledge. The results of the Columbian Exchange come with mixed feelings, owing to the degree of death and slavery that such a clash of natures caused. But whatever the outcome of the two worlds "re-uniting," the Exchange was a major event in the process of discovery. Suggested Readings Crosby, Alfred W. The Columbus Voyages, the Columbian Exchange, and Their Historians: Essays on Global and Comparitive History. Washington, D.C.:American Historical Association, 1987. ---. The Voyages of Columbus: A Turning Point in World History. Bloomington, IN: ERIC Clearinghouse for Social Studies/Social Science Education, 1989. Patrick, John J. "Columbus in the Curriculum: Ideas and Resources for Teachers of History in Elementary and Secondary Schools." International Journal of Social Education. 7.1

Demand and Supply Curves

We have a certain commodity, `pure Malaysia Laptop’, whose market we are going to analyze. Assume that exogenous (external) forces are equal in magnitude, while supply–demand curves are unitary elastic. Given a certain event/scenario, (a) analyze the curve/s affected, shifts or movements and the direction, and (b) effect to equilibrium price (P*) and equilibrium quantity (Q*) Scenario 1 a. Prices of optical drives suddenly increase The production cost has increased so the supply decreases and eventually the price go up.The supply curve shifts to the left. b. A new market-standard operating system is released to the market but costs at least 50% higher than the previous edition This issue is considered another production cost so the supply curve shifts to the left. The supply decreases and price goes up. c. News spread that local laptops were contaminated with melamine Demand decreases because people buy less due to the news so the demand curve shifts to the left and the Q and P both decrease. d.Video chatting and internet-on-the-go become fad New technology makes people buy more of the product so demand increases and as a consequence the demand curve shifts to the right and price and quantity both increases. Scenario 2 a. China laptop manufacturers were permitted to enter the Malaysian market Cheaper products attract consumers, so the demand for our product decreases. The shift in the demand curve goes to left and the P and Q both decreases. b. Average desktop computer prices have plunged to all-time lowsIf desktop computers become cheaper the demand for laptops decreases so the demand curve shifts to left and eventually the P and Q decrease. c. New taxes were imposed to laptops sales (per unit tax) Imposing new taxes to laptops is additional cost for the production. so it affects the supply and the supply curve shifts to left. so the P increases and Q decreases. d. A recession/economic downturn cause the income of consumers to decline and cause t he prices of laptop parts to increaseWhen consumer’s income decreases, the demand goes down and the demand curve shifts to the left. On the other hand the prices of laptop parts increases and that makes the production costs to increase so the supply decrease and the supply curve shifts to left. So the quantity decreases while we have an ambiguous equilibrium price. Scenario 3 a. Biggest local laptop manufacturer suddenly become bankrupt and the government gives subsidy to consumers to purchase `educational and computer-literacy’ related goodsBy the biggest local laptop manufacturer going bankrupt, our company’s supply goes up and eventually the price goes up. The demand curve shifts to the left. So the Q decreases. b. New production techniques were adopted by local laptop manufacturer and prices of inputs in the production of desktop computer decline significantly When the prices for laptops decease the demand goes up and as a consequence the demand curve shifts to the right so the price and quantity increase.

Group Lending and Mitigation of Adverse Selection in Microfinance

Maurya (2011) perfectly summarised the concepts of adverse selection and group lending. In essence, microfinance works on a joint liability model and the traditional theories of credit lending state that rural credit markets are imperfectly competitive and acquiring information about borrower types on who is risky and who is safe is not costless. This market imperfection leads to high interest rates and drives out safe borrowers from the credit market.In economic literature, this problem is considered as adverse selection problem and the joint liability model tries to solve the problem of adverse selection through group lending (Maurya, 2011). Group lending generally denotes a credit advancing model where individuals who do not have collateral form a group based on joint liability to access loans. It is widely regarded as one of the most important institutional innovations in development policy in the last quarter century (Morduch, 1999).The most understanding feature of group lendin g is joint liability. Joint liability to a group obligation that if one member of the group defaults on their loan all the other group members will contribute jointly to cover the defaulted amount. As a result the whole group is jointly liable for the pool of loans granted to each member of the group. Any member in default will spread the default to other group members regardless of them being personally in default or not.Recently many developments institutions have tried to use group lending to give loans to the poor and achieve the following: Avoid the use of collateral as it would be replaced by joint liability. pass off the screening, monitoring and enforcement of loans to the peers Reduce fixed transaction costs associated with issuing out very small loans The adverse selection problem occurs when lenders cannot distinguish inherently risky borrowers from safer borrowers. If lenders could distinguish by risk type, they could charge different interest rates to different types of borrowers.But with poor information, options are limited. The problem to lenders is that they cannot gather sufficient information at reasonable costs to determine the riskiness of the borrowers. As such to insulate themselves against losses of issuing loans at low interest to very risk borrowers they charge a high blanket interest rates for all loans. Adverse selection may lead to credit rationing as it induces lenders to charge everyone high interest rates to compensate for the possibility of having very risky borrowers in the customer population. (Morduch 2010).If the economy is consisting of safe and risky borrowers, only risk borrowers would remain in the market. Since safe borrowers regard themselves relatively safe debtors they will require a loans at low interest rates which is in tandem with their riskiness. Risky borrowers on the other hand know they are risky and would tolerate high interest rate as it perfectly relates their riskiness. As such when MFIs charge a high bl anket interest rate to avoid a mismatch in risk and return safe borrowers withdrawal from the market as they perceive the rate to be too high for their riskiness.Only risk borrowers would then be left in the market and all loan advances would be mad to risk borrowers – a situation that the MFI would be trying to avoid in the first place. So due to lack of information charging high interest rates to avoid risky borrowers would actually eliminate safe borrowers and attract risky borrowers – thus adverse selection. In principle, group lending with joint responsibility can mitigate this inefficiency (Armendariz and Morduch, 2010). Group lending mechanisms provide incentives to the borrowers to monitor each other to assess the creditworthiness of each member.Aghion (1999) showed theoretically how peer monitoring alone, with random formation of groups can help overcome adverse selection problems when monitoring is costly for lending institutions. Strong social networks have lower monitoring cost, which results in more credit being extended. Social networking provides a group of people who are well acquainted with each other and have a mutual trust in the economic viability and creditworthiness of each other. Poor borrowers cannot provide collateral to lending institutions and even when it is available, legal obstacles often prevent repossessing collateral when borrowers default. Ghatak, 1999). Ghatak (1999) have argued that group lending can solve this problem by taking advantage of information villagers have of each other’s type which is unavailable to the lender. Assortive matching can be discussed under two assumption: (1) when borrowers cannot distinguish the type of the other borrower – private information case and (2) when borrowers can distinguish the other borrower’s type. (Aghion and Gollier, 2000) Under the private information case, borrowers cannot distinguish if the other is of their own type – safe or risky.As s uch borrowers will form groups based on randomly selection cemented by their need for a loan. In such instances the group will be formed of both risky and safe borrowers. Due to joint liability safe borrowers can therefore repay defaulted loans on behalf of risky borrowers and in turn joint liability will reduce the interest rates which attract safe borrowers back into the market. Rates under such group lending will be reduced due to a frequent and stable rate of repayment. (Aghion and Gollier, 2000).Sometimes referred as negative assertive matching, this ensures that the proportion of safe borrowers in the group will generate returns high enough to cover for their defaulting partners. In turn safe borrowers will impose tough social sanctions on the risky borrowers so that they do not default deliberately. This implies that the lender can pass risk from risky borrowers to safe borrowers and thus reduce the overall riskiness of the group. Additionally, auditing costs, monitoring cost s and information gathering costs will be avoided.This enables the lender to reduce their lending rate significantly and still break even. As a result safe borrowers will be lured back into the market through negative assertive matching. In instances where peers have information about the type of the other borrower, safe borrowers will only group together and avoid risky borrowers in their group as this disadvantage them through joint liability. Risky borrowers on the other hand are excluded from safe groups so they will join together and form their own risky group – which won’t be so risky considering the benefit of joint liability.Since can positively assort themselves between safe and risky groups, the lending institution can charge differential rates between these groups depending on the overall riskiness of the group. Groups can be requested to provide information about their members if they want credit. This both reduce costs of information gathering and help the lender determine what class the group can be categorised into – safe or risky. Through use of assertive matching a differentiation previously inhibited due to information unavailability can be made and differential rates be charged to different types of borrowers.The level of gravity of social sanctions imposed by each member in the group helps increase the credibility of the group. As a result the higher the extend of social sanctions in a group the lower the groups risk of default and thus lower rates can be charged to retain safe borrowers. However, assertive cannot be able to completely solve the problem of adverse selection. For example in a group the better performer who is always covering for others defaults can deliberately default on his loan to distress the group and the whole group might default.This is amplified in negative assertive matching where a group may be highly dependent on the performance of one member. In conclusion, assertive matching can lower intere st rates and circumvent credit market inefficiencies even in the case where borrowers are imperfectly informed about each other’s type (Aghion and Gollier, 2000). REFERENCES: Armendariz de Aghion and Gollier. C. (2000), ‘Peer Group Formation in an Adverse Selection Model’, the Economic Journal, 110, p. 632-643. Armendariz de Aghion, B. 1999), â€Å"On the Design of a Credit Agreement with Peer Monitoring†, Journal of Development Economics, 60, p. 79-104 Ghatak, M. (1999), ‘Group Lending, Local Information and Peer Selection’, Journal of Development Economics, 60, p. 27-50 Kumar, A (2005), Self-help groups: Use of Modified ROSCA in Microfinance    Maurya, R. (2010) ‘Poverty Reduction through Microfinance: A study of SHG-Bank Linkage Model,’ the microfinance review, Vol. II (1), January-June 2010 Morduch J. (1999) ‘The microfinance promise,’ Journal of Economic Literature 37, 1569-1614 Group Lending and Mitigation of Adverse Selection in Microfinance Maurya (2011) perfectly summarised the concepts of adverse selection and group lending. In essence, microfinance works on a joint liability model and the traditional theories of credit lending state that rural credit markets are imperfectly competitive and acquiring information about borrower types on who is risky and who is safe is not costless. This market imperfection leads to high interest rates and drives out safe borrowers from the credit market.In economic literature, this problem is considered as adverse selection problem and the joint liability model tries to solve the problem of adverse selection through group lending (Maurya, 2011). Group lending generally denotes a credit advancing model where individuals who do not have collateral form a group based on joint liability to access loans. It is widely regarded as one of the most important institutional innovations in development policy in the last quarter century (Morduch, 1999).The most understanding feature of group lendin g is joint liability. Joint liability to a group obligation that if one member of the group defaults on their loan all the other group members will contribute jointly to cover the defaulted amount. As a result the whole group is jointly liable for the pool of loans granted to each member of the group. Any member in default will spread the default to other group members regardless of them being personally in default or not.Recently many developments institutions have tried to use group lending to give loans to the poor and achieve the following: Avoid the use of collateral as it would be replaced by joint liability. pass off the screening, monitoring and enforcement of loans to the peers Reduce fixed transaction costs associated with issuing out very small loans The adverse selection problem occurs when lenders cannot distinguish inherently risky borrowers from safer borrowers. If lenders could distinguish by risk type, they could charge different interest rates to different types of borrowers.But with poor information, options are limited. The problem to lenders is that they cannot gather sufficient information at reasonable costs to determine the riskiness of the borrowers. As such to insulate themselves against losses of issuing loans at low interest to very risk borrowers they charge a high blanket interest rates for all loans. Adverse selection may lead to credit rationing as it induces lenders to charge everyone high interest rates to compensate for the possibility of having very risky borrowers in the customer population. (Morduch 2010).If the economy is consisting of safe and risky borrowers, only risk borrowers would remain in the market. Since safe borrowers regard themselves relatively safe debtors they will require a loans at low interest rates which is in tandem with their riskiness. Risky borrowers on the other hand know they are risky and would tolerate high interest rate as it perfectly relates their riskiness. As such when MFIs charge a high bl anket interest rate to avoid a mismatch in risk and return safe borrowers withdrawal from the market as they perceive the rate to be too high for their riskiness.Only risk borrowers would then be left in the market and all loan advances would be mad to risk borrowers – a situation that the MFI would be trying to avoid in the first place. So due to lack of information charging high interest rates to avoid risky borrowers would actually eliminate safe borrowers and attract risky borrowers – thus adverse selection. In principle, group lending with joint responsibility can mitigate this inefficiency (Armendariz and Morduch, 2010). Group lending mechanisms provide incentives to the borrowers to monitor each other to assess the creditworthiness of each member.Aghion (1999) showed theoretically how peer monitoring alone, with random formation of groups can help overcome adverse selection problems when monitoring is costly for lending institutions. Strong social networks have lower monitoring cost, which results in more credit being extended. Social networking provides a group of people who are well acquainted with each other and have a mutual trust in the economic viability and creditworthiness of each other. Poor borrowers cannot provide collateral to lending institutions and even when it is available, legal obstacles often prevent repossessing collateral when borrowers default. Ghatak, 1999). Ghatak (1999) have argued that group lending can solve this problem by taking advantage of information villagers have of each other’s type which is unavailable to the lender. Assortive matching can be discussed under two assumption: (1) when borrowers cannot distinguish the type of the other borrower – private information case and (2) when borrowers can distinguish the other borrower’s type. (Aghion and Gollier, 2000) Under the private information case, borrowers cannot distinguish if the other is of their own type – safe or risky.As s uch borrowers will form groups based on randomly selection cemented by their need for a loan. In such instances the group will be formed of both risky and safe borrowers. Due to joint liability safe borrowers can therefore repay defaulted loans on behalf of risky borrowers and in turn joint liability will reduce the interest rates which attract safe borrowers back into the market. Rates under such group lending will be reduced due to a frequent and stable rate of repayment. (Aghion and Gollier, 2000).Sometimes referred as negative assertive matching, this ensures that the proportion of safe borrowers in the group will generate returns high enough to cover for their defaulting partners. In turn safe borrowers will impose tough social sanctions on the risky borrowers so that they do not default deliberately. This implies that the lender can pass risk from risky borrowers to safe borrowers and thus reduce the overall riskiness of the group. Additionally, auditing costs, monitoring cost s and information gathering costs will be avoided.This enables the lender to reduce their lending rate significantly and still break even. As a result safe borrowers will be lured back into the market through negative assertive matching. In instances where peers have information about the type of the other borrower, safe borrowers will only group together and avoid risky borrowers in their group as this disadvantage them through joint liability. Risky borrowers on the other hand are excluded from safe groups so they will join together and form their own risky group – which won’t be so risky considering the benefit of joint liability.Since can positively assort themselves between safe and risky groups, the lending institution can charge differential rates between these groups depending on the overall riskiness of the group. Groups can be requested to provide information about their members if they want credit. This both reduce costs of information gathering and help the lender determine what class the group can be categorised into – safe or risky. Through use of assertive matching a differentiation previously inhibited due to information unavailability can be made and differential rates be charged to different types of borrowers.The level of gravity of social sanctions imposed by each member in the group helps increase the credibility of the group. As a result the higher the extend of social sanctions in a group the lower the groups risk of default and thus lower rates can be charged to retain safe borrowers. However, assertive cannot be able to completely solve the problem of adverse selection. For example in a group the better performer who is always covering for others defaults can deliberately default on his loan to distress the group and the whole group might default.This is amplified in negative assertive matching where a group may be highly dependent on the performance of one member. In conclusion, assertive matching can lower intere st rates and circumvent credit market inefficiencies even in the case where borrowers are imperfectly informed about each other’s type (Aghion and Gollier, 2000). REFERENCES: Armendariz de Aghion and Gollier. C. (2000), ‘Peer Group Formation in an Adverse Selection Model’, the Economic Journal, 110, p. 632-643. Armendariz de Aghion, B. 1999), â€Å"On the Design of a Credit Agreement with Peer Monitoring†, Journal of Development Economics, 60, p. 79-104 Ghatak, M. (1999), ‘Group Lending, Local Information and Peer Selection’, Journal of Development Economics, 60, p. 27-50 Kumar, A (2005), Self-help groups: Use of Modified ROSCA in Microfinance    Maurya, R. (2010) ‘Poverty Reduction through Microfinance: A study of SHG-Bank Linkage Model,’ the microfinance review, Vol. II (1), January-June 2010 Morduch J. (1999) ‘The microfinance promise,’ Journal of Economic Literature 37, 1569-1614

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