A paper for oceanography based off of the book called The Eskimo and Essay

A paper for oceanography based off of the book called The Eskimo and the Oil Man by Bob Reis - Essay Example The study of the oceans has enabled the understanding of the global climates and the trending climatic concerns such as the global warming and the possible impacts on the ecosystem dynamics and the life supporting atmospheric portion i.e. the biosphere at large. The atmosphere and the biosphere are interrelated through the natural processes of evaporation, precipitation and the natural heat exchange processes. At a general broad prospect, oceanography is divided into the following branches: 1. Biological oceanography This refers to the study of the ecology of the marine ecosystems with regards to their surrounding ocean environment. Marine biologists study the life in the oceans (marine ecology) and as well as the total organic production in the seas and oceans. The marine life consists of the floating or weakly swimming organisms known as planktons and rapidly swimming organisms referred to as nektons. Marine oceanographers map the floors of oceans, analyze the problems of the shore lines, and study the deposits and other sediments of the ocean floor and rock layers of the earth’s crust. Biological oceanography therefore looks into the influence of the ocean’s physical, chemical and the geological characteristics on the marine ecology or ecosystems. 2. Chemical oceanography (Marine Chemistry) This is the study of the Chemistry underlying the ocean environment and the processes of its interactions with the atmosphere. Chemical oceanography is looks into the chemistry of seawater, the major salts it contains, and other trace elements found in the oceans. 3. Marine Geology ( Geological oceanography) This refers to the study of the geology of the ocean floor with regards to the paleoceanography and the plate tectonics. 4. Physical Oceanography (Marine Physics) This is the study of the physical processes of the oceans such as the mixing, waves, tides, ocean currents, water transparency density and temperature; as well as under water acoustics and sound transmission. In his book, The Eskimo and the Oil Man: The Battle at the Top of the World for America’s Future, Bob Reiss is particularly concerned with the Oil exploration strategy by the Shell Company on the North Arctic coast of Alaska, focusing on the potential threats to the Ocean, impact on the marine ecosystems and the Americans living within the neighborhood. This intertwines all the mentioned branches of oceanography with views on the related impacts to the ocean and its environs. Reiss describes offshore oil exploration, which generally involves operations beyond three miles from the shoreline. This exploration has been especially facilitated by the continuous recession of ice at the coast of Alaska due to the changes in weather and climate patterns, a region that has been for many years covered by ice. Amongst other challenges of offshore exploration is the control of the dynamic changes in the temperatures and pressures when drilling across the rock formations in their strata deep beneath the ocean that may result in to dangerous oil-well blowouts that emit a buoyant plume of oil, produced water and natural gas. The ice recession at Arctic is a concern of the oceanography which tries to look into the prospective repercussions of offshore oil drilling activities on to the local and global climate. It also tries to explain the possible impacts on the surrounding environment as the ice continue to disappear. This phenomenon has been occasioned by global

Two Early Childhood Education Services in Your Community Essay Example for Free

Two Early Childhood Education Services in Your Community Essay Identify TWO early childhood education services in your community. Briefly explain their history and then compare and contrast their philosophies, educational goals and the strategies employed to achieve these goals. Kangaroo Kids education limited (KKEL) and Indian Montessori Foundation(IMF) are two organisations providing early childcare services in Mumbai, Maharashtra. W hile KKEL represents a more contemporary approach based on student-centric experiential learning processes, dynamic curriculum and stress-free environment that meet the ‘best practices’ and international standards of education (KangarooKids Education Ltd. [KKEL], n. d. ), the IMF, a long existing organization was setup with the vision of enabling children to reach their full potential through the principles of Montessori Education leading towards a more harmonious and peaceful world. (Indian Montessori Foundation. (IMF). n. d. ) The KKEL Vision as stated above, is to wholeheartedly serve children and make every learning moment a joyful, effective and meaningful one. Kangaroo Kids Education Ltd (KKEL) has brought about an alternate system of education which is a stark contrast to the widely prevalent ‘learn by rote’ methods of learning. The emphasis is on active learning and on providing a system that leads to the acquisition of both knowledge and skills. Today, KKEL supports 80 schools in India that are operating in 17 cities and has an international presence in Dubai and Maldives and is still growing rapidly. (KangarooKids Education Ltd. [KKEL], n. d. ) In contrast, the central principle in the Montessori Approach is that of using education as an aid to life. This approach comes from the fact that the principles of the Montessori Approach go hand in hand with the child’s own natural development stages. Montessori classrooms are referred to as prepared environments which provide children an atmosphere where they can choose the work they wish to pursue and allow them the freedom to develop at their own pace. In this work, the children are guided by a trained adult. The IMF aims to achieve the above goals by nurturing Montessori principles in schools, supporting AMI Montessori training, bringing together AMI Alumni, Promoting research and development of all aspects of Montessori Education and expanding the awareness of Montessori Principles in society. (Indian Montessori Foundation. [IMF]. n. d. ) The approaches of these organisations are perhaps most significantly different in terms of the philisophical underpinnings. W hile KKEL seems to derive from the experiential aspects largely contributing to the specific knowledge and skills the IMF instead relies on providing an understanding of universal principles of peace and harmony. Additionally their strategies seem starkly different, while IMF is focussed on engaging the community as a mode of sustaining, KKEl appears to be a promotion driven organisation. Finally and most crucially while their systems might seem quite different it would be fair to say that KKEL is perhaps an evolution of the IMF model, which while based on modern demands of cutting edge education solutions seems customised and contemporary but still aims to develop a child skills in manner broadly the same but specifically different. 1 BEd110C5: Introduction to Early Childhood Education – International 20110503 Namrata Sharma 2.

Importance Of FDI In Developing Malaysian Economic Growth

Importance Of FDI In Developing Malaysian Economic Growth The federation of Malaysia was formed in 1963, initially consisting of Malaya, Singapore, Sabah and Sarawak. Due to internal political reasons, Singapore was asked to leave the federation in 1965 to become an independent state. Malaysia is separated into two regions namely the West and East Malaysia by the South China Sea. Malaysia is blessed with an abundance of natural resources such as gas, coal, petroleum and the humid tropical climate creates a great condition for plant growth such as palm oil and rubber. These raw materials are what contribute to the economy. Before the 1970s, Malaysia was previously a raw material producing economy that produced rubber, tin, etc that exported to the industrialised countries. Much later, petroleum and palm oil were also one of the raw materials being exported. However, since the 1970s a change has been noted in the development of the economy of being a more export-oriented manufacturing industry that produced textile, rubber products, electric and electronic goods etc. The government realised to increase GDP growth, the country had to shift from an export-oriented raw material producing economy into an export-oriented manufacturing economy. Not only will employment rise, but it will also benefit GDP growth and economic welfare. Importance of Foreign Direct Investment (FDI) FDI is defined as a company from one country making a physical investment into building a factory in another country. In other words, it is the establishment of a company by a foreign investor. To invest in Malaysia, it is required that 10% of the total equity in a resident company be held by the foreign investor. Generally there are two types of FDIs; outward-bound FDI and inward-bound FDI. An outward-bound FDI is when local capital is invested in foreign resources while an inward-bound FDI, the opposite of an outward-bound FDI is when foreign capital is invested in local resources. FDI is an important and effective way to stir up the economy as it is a major catalyst to development. This is because with the setting up of companies and factories, employment will rise. With foreign money being pumped into the economy to pay of wages and salaries to the employees, a multiplier effect will create an injection of several times that will cause a huge influx of foreign money. As more foreign money is being pumped into the local economy (assuming there are no outflows of money) GDP growth will soar that goes hand in hand with vision 2020 where Malaysia will achieve a developed nation status with a constant 8% growth rate every year. This will in turn, bring confidence into the economy, further generating more FDIs. As the economy is doing well, development will naturally take place to improve the quality of life. Furthermore, the acquisition of knowledge for the transfer of technology is a tremendous advantage for the country. As companies and factories are being set up, heavy machineries and sophisticated technology are being passed on to the local employees to operate the business. In order to work the technology, the local employees will then have to go for training. Thus the passing on down of knowledge and technology to the country is an integral part for developing countries to further improve itself on a global scale. Suitable Industries and Businesses Foreign Investors from China can consider venturing into the renewable energy sector. This is because, Malaysia have an ample supply of raw material and land availability for such investments. Furthermore, a company from the Hong Kong called Sun Bear Solar Ltd. has made the first move to venture into the renewable energy industry in Malaysia. This is a stepping stone for future FDI from China into this sector. Foreign investors from India can consider venturing into the IT industry of Malaysia. This is because Malaysia is fully equipped with high speed internet due to Multimedia Super Corridor (MSC) and thus this can facilitate with the FDI when they invest and set up companies in Malaysia. Foreign investors from the Middle East can consider venturing into the oil and gas industry. The Middle East is rich with an abundance of oil and gas and so is Malaysia. Investors from there have a high expertise in the field and thus, are suitable in venturing into this sector. It is highly recommended that the Middle East investors invest into the oil and gas industry to further enlarge the scale of production and thus earning billions to stimulate the economy. Strengths The political status in Malaysia isnt a huge concern to foreign investors as it is considered stable compared to neighbouring countries like Thailand. In Thailand, where street protests have escalated in recent years have kept foreign investors pending on their investment into the country due to national security. The political instability and unrest has caused a huge deterrence for the countrys FDI and thus, alternatives have been considered. Malaysia, south of Thailand is an option for the disturbed political atmosphere. With a stable political status in Malaysia, foreign investors can and will benefit from their investments into Malaysia. A strategic location between the East and the West, Malaysia is in the epicentre of the ASEAN countries. Investors from the Middle East, India and China will find that Malaysia is the gateway to the ASEAN market that is some 558.2 million people. Malaysia boasting a population of only 28 million will be the focal point of foreign investors as they can easily distribute their products to the neighbouring countries. Natural resources in Malaysia are in abundance. Natural gas, oil, petroleum and coal have been found along the coastal waters of the country. As such, Malaysia has kept a competitive edge to neighbouring countries as the price of fuel is remarkably lower than other ASEAN countries. This is an effective cost minimiser. Furthermore, raw materials such as rubber and palm oil are also found in abundance in the country. For those foreign investors who are planning to invest in these sectors will benefit as they will save on transportation cost as they can produce the industrialised goods in Malaysia rather than importing raw materials to their countries to produce the respective goods. Malaysia is a multicultural country where three main races namely the Malays, the Chinese and the Indians live harmoniously together. This has proven to be an advantage to foreign investors from China and India as they will have no problem communicating with the local employees as they can speak in the same language or dialect. This is definitely a strength compared to other ASEAN countries such as Thailand whose locals speak mostly Thai and the Indonesians, Bahasa Indonesia. Although instructions can be conferred through a medium, it is at the foreign investors best interest that they communicate directly with their employees. The labour market in Malaysia is fairly educated with a literacy rate of 87.4% (estimated by UNESCO Institute for Statistics, July 2002). With a higher literacy rate compared to other ASEAN countries such as Laos 76%, gives Malaysia the advantage of attracting FDI. Foreign investors will find it easier to communicate and to train the local employees to fit the demands of the job and thus, minimising the cost of training. Technology and transportation in Malaysia is considered better than many neighbouring countries. With proper tar roads and internationally-recognised ports, imports and exports can be done easily without having to worry about the lack of infrastructure. This will ensure FDI to invest in Malaysia as they will not have to worry or invest extra security towards their transportation of their goods. Furthermore with Multimedia Super Corridor (MSC), a high speed internet connection, FDI will be ensured that work in the resident country will not be restricted by communication troubles. Challenges One of the main challenges of attracting FDI to Malaysia is the Islamic image of the country. With the recent attacks on churches over the use of the word Allah by Christians in publications has deterred foreign investors from investing in Malaysia. Concerns are being raised by foreign investors as they fear a religious conflict would turn deadly.This is not a healthy thing for perceptions of Malaysia, Nicholas Jeffreys, president of the American Chambers of Commerce in Malaysia, told a business conference. As mentioned, the political status in Malaysia is considered stable compared to other ASEAN countries. However so, the recent formation of opposition party Pakatan Rakyat consisting of DAP, PAS and KEADILAN have proved to be a problem to the economy of Malaysia. During the recent general election, the opposition party garnered five states that were previously held by the main political party, Barisan Nasional. Politically shaken, both parties have been on each others throat, fighting for power. The political unrest in Malaysia has kept investors pending about investing in Malaysia as it is difficult to get both state and federal government to accommodate at the same time. In recent months, Malaysias currency has been steadily rising against the US dollar, Euro and the British Sterling. It is important to note that a strong currency is not what foreign investors want as more money will have to be forked out to buy Malaysias currency. Furthermore, a strong currency will mean labour cost will increase. This will be a setback for the economy as foreign investors will want to choose other ASEAN countries of lower currency for a lower labour cost such as Vietnam or Cambodia. A drop in GDP rate over the last few years is another reason why foreign investors are still pending with their investment into Malaysia. With a fall in growth rate, the economy will contract and thus, foreign investors will not be able to expand their business fully and this will deter foreigners from investing into Malaysia. Corporate taxation on profit has a huge impact on foreign investors wanting to invest into countries. Among ASEAN countries, Malaysia does not have the lowest corporate taxation rates and thus foreign investors may think twice about investing into Malaysia. Heavy competition from other ASEAN countries is also another deterrent for investors to invest in Malaysia. This is because, other neighbouring countries may lower corporate taxation rate in order to accommodate with the increasing FDIs. Furthermore, the other countries may design or propose better government policies to attract FDI into their respective countries. Vietnam, known as the second China has shown a remarkable performance in attracting FDI and is one of the fastest growing economies of the world, behind China. Thus, with a reputation of that, Malaysia will have to work harder to garner more support and FDI. Recommendations It is impossible to avoid the world to know about Malaysias image of being an Islamic country. However so, precautionary methods can be done to enhance the peaceful and harmonious relations in the country. Advertisement on a global scale to promote Malaysia as a symbol of racial and religion unity can improve Malaysias image. Political instability in Malaysia may not be a major issue; however, it is still a pressing matter that the federal government and the opposition are at constant loggerheads. Disagreement is bound to stir up situations hence; agreements must be made in order to ease the tension. The federal government and the opposition will have to come to an agreement to provide the best facilities and services to current and potential foreign investors. With both parties working hand in hand, foreign investors will have the confidence to want to invest in Malaysia. A strong currency deters investors from investing into Malaysia as total costs will increase. In order to remain competitive, Malaysia can and may revoke back to the pegged exchange rate against the USD where economy uncertainty can be abolished as investors will be certain that their current expenses will not increase or decrease readily. A falling GDP due to the recent economic recession is not something the government can change overnight. However, the government can encourage spending by lowering interest rates. This will cause a multiplier effect and stimulate the economy. Investors will then see a growth in GDP rate and invest in Malaysia. With public confidence, this will become a whole cycle. Heavy competition from other countries is due to attractive and lucrative deals made by the government to attract FDI. The Malaysia government can do the same by introducing attractive deals, low corporation tax, etc to attract FDI. Conclusion FDI is an important and effective way to stir up the economy as it is a major catalyst to development. There are many pros and cons to investing in Malaysia, pros being, political stability, strategic location, an abundance of natural resources and raw materials, a multicultural country, a high quality workforce, good transportation, while cons being, political instability, Islamic image, high currency, high corporate taxation and heavy competition. However so, recommendations have been made to minimize the challenges faced by foreign investors. Invest in Malaysia, and it shall invest in you.

Formulation Of A Theory :: Papers

Formulation Of A Theory The certain factors that influence the accuracy of estimation is mainly: Age, the time of day it is processed, gender and the style of the survey. The reason age has an affect on the accuracy of estimation, is because if the person is too young or too old the survey may not be reliable enough in order for it to be processed into a data collection sheet the reason being that they may not be suited to the imperial or metric measurement used in modern days. The young may not have learnt the imperial measures and the elderly may not be used to the correct terms. The effect, time has to getting good reliability is that the survey should be taken out at a convenient time of the day where food has been consumed properly and the people's minds are focused. The times which may be irrelevant to practice a survey is early in the morning or late at night where people may be tired. The gender may have a certain effect on the outcome of results because the males may differ in technical skills to females or it is possible that perhaps females are more capable of handling academical situations rather than males. The style of a survey may affect the result because if badly constructed questions are used, people will not answer the survey properly and will try to avoid them. An example of a badly constructed question is 'What is your age?'-This is personal. Many people will not want to answer. An example of a well constructed question is 'Which age group are you in? 0-20 21-30 31-50 etc. A questionnaire is usually put together to test a hypothesis. The hypothesis that will be used in this questionnaire is: 'Children will be able to estimate better than adults'. Method The data will be collected through a simple questionnaire. A stratified sample will be used. This is because in a stratified sample, the population that will be asked will be divided into

Comparing Romantic Opposition in Billy Budd, Bartleby the Scrivener and Artist of the Beautiful :: comparison compare contrast essays

  Ã‚  Ã‚   Herman Melville wrote some of the most widely read works in the history of literature during the late nineteenth century.   He has become a writer with whom the romantic era is associated and a man whose works have become a standard by which modern literature is judged.   One of his most well-known and widely studied short pieces of fiction is a story entitled, simply, Billy Budd.   In this short story, Melville tells the tale of Billy Budd, a somewhat out-of-place stuttering sailor who is too innocent for his own good.   This enchanting tale, while inevitably entertaining, holds beneath it many layers of interpretive depth and among these layers of interpretation, an idea that has been entertained in the literature of many other romantic writers.   Melville uses a literary technique of developing two characters that are complete opposites in all aspects and contrasting them throughout the narrative, thus allowing their own personalities to adverse ly compliment each other. Melville also uses this tactic in another well-known short story, Bartleby the Scrivener.   Much like Melville's two stories, another romantic writer, Nathaniel Hawthorne, uses this tactic in his short story, The Artist of the Beautiful when he creates two completely different characters who vie for the same woman's love.   Both writers use the contrary characters to represent the different facets of the human personality.  Ã‚   Using this idea and many others, these romantic writers, Melville and Hawthorne, created works with depth of meaning that were both interesting to read and even more intriguing to interpret.      In his short story, Billy Budd, Melville uses this romantically based idea of characteristic opposites in two of his main characters, Billy Budd and Claggart.   To give the comparison even more strength, Melville also puts these two characters in virtually opposing roles in the story.   Billy represents the good that is present in humans and Claggart represents the bad.   Similarly, Claggart takes on an intelligent persona while Billy appears to be a bit innocent and uneducated in the ways of the ship.   These two men are essentially at odds and appear to represent the dueling facets of the human conscience, the sort of angel and devil on the shoulder.   Claggart wishes to rid the ship of Billy and eventually, the captain of the ship is forced to hang Billy because of Claggart's malice.

Past, Present, and Future

The purpose of this paper is to reflect on my personal and professional growth during my Criminal Justice program of study at the University of Phoenix. The paper will reflect upon where I was before I began college at the University of Phoenix. Then I will evaluate the growth I experienced during my University of Phoenix program of study. To conclude, the paper will analyze the impact of completing the University of Phoenix bachelor's program on my current and future professional goals.I went to college for the first time right after high school and learned very quickly that I did not know why I was there. I attained a job, thinking I would return when I decided what I wanted to be. The second time I went to college, I was in my early thirties, and because of the daycare I had been providing in my home, decided I should pursue a degree in early education. By the time I finished my general education courses, I changed my mind. I no longer wanted a degree in early education, and did n ot know what degree I wanted.Once again I quit college with a decision to return, once I knew what I wanted to be when I grew up. Many years went by and during those years I worked different low-level low-pay jobs. I began working for State Farm in the call center of the claims department in 2003. Although this position was also a low-level, low-paying job, I was enjoying learning the process of insurance claims and wanted to pursue a different position within the claims department. My supervisor encouraged me to go back to college because a degree would make me more competitive for higher positions within the company.In the next couple years, I managed to receive a position in a different department, but still low level. I continued in this position for three years and during this time, I had interviewed for three positions that I did not receive because I lacked a degree. My supervisor again encouraged me to go back to college to acquire the problem-solving, written and oral commu nication skills I needed to advance within the company. My desire was to return to college but did not believe I could work full-time while going to college.I shared this reasoning with my coworker who told me about the University of Phoenix, so I contacted the school and made an appointment. University of Phoenix’s accelerated program was the answer I needed. Each course was five weeks and I would take one course at a time. A program of study was my next dilemma as I never decided on this in the past. I did have a desire to work in the Special Investigative Unit in the claims department, so I spoke with a claim representative within that department who had a degree in Criminal Justice, and my choice was made.The first class I took was GEN/300 Skills for Professional Development that helped me to understand a new way of learning. I was used to a traditional curriculum; study a textbook, then take a test. GEN/300 taught me the computer skills and the tools needed for this new way of learning. Instead of tests, I learned to write academic papers that illustrated that I understood the course information. My research skills were enhanced as I learned to go beyond the textbook and use the Internet to retrieve information needed for my assignments. I was also introduced to a learning team environment.The learning team taught me how to work with different personalities to accomplish the same goal (University of Phoenix, 2008). In SCI/362 Environmental Issues and Ethics, the learning team assignment was a case study. Each week the learning team worked on a specific part of the case study that would build up to the final presentation for week five. This style of learning enhanced my written and oral communication skills as I worked with the team. The learning team learned to use each other’s strengths to put the presentation together (University of Phoenix, 2008).The two core courses during my program of study that had the greatest effect on my potential employment are CJA/413 Ethics in Criminal Justice and CJA 423 Cultural Diversity in Criminal Justice. These two courses revealed to me that everyone does not perceive the world the same as I do. People who are from a different culture may have different ethics than I. This concept opened my understanding that I need to consider people’s cultures and ethics to communicate more successfully in professional settings.This is an essential tool that everyone needs to be successful in the business world (University of Phoenix, 2009). My college experience with the University of Phoenix has been challenging at times but rewarding. The most challenging was the learning teams. Each team I was on seemed to face the same problem, which was to meet outside the classroom. Team member’s schedules conflicted, which made it difficult to meet to work on the team assignment. I believe the classroom setting should include mandatory learning team meetings. The meetings should be at the beg inning or middle of the classroom time.When time is given for learning team meetings during class, my experience has been that the professor gives the time at the end of class, and this has not been productive. Most of the class members have worked all day, and they are tired, so either they leave class early or they are not productive in the meetings. Online courses at University of Phoenix should be more affordable to students. This would help during times in a student’s life when he or she cannot make it to class. For example, a mother may have a sick child and whereas a mom cannot attend a class, a mom with a sick child could still attend class if the class is online.Mom with a sick child is just one example of the many situations that come up in life that an online course would better serve the student than the classroom setting. As I discussed earlier in this paper, I work for State Farm in the Auto Claims Department and with my Bachelor’s degree in Criminal Just ice my goal is to attain a position within the Special Investigative Unit. This unit works claims that may be fraudulent. I am taking online claim courses that my company provides for employees seeking a position in the SIU department, and I will continue to take courses on diversity and ethics.Also I will seek a mentor within the department who can show me the correct steps I need to take as I move forward toward this goal. I am considering continuing my education to receive a Master’s degree in Criminal Justice. My goal with this degree is maybe later in life to be a college professor. I believe the future college will be primarily online, which will open many opportunities for professors to teach from anywhere at anytime. This paper reflected on my personal and professional growth during my Criminal Justice program of study at the University of Phoenix.I discussed where I was before I began college at the University of Phoenix and evaluated the growth I experienced during my University of Phoenix program of study. In conclusion, I analyzed the impact of completing the University of Phoenix bachelor's program on my current and future professional goals.Reference University of Phoenix (2008). Program credits. Retrieved from https://ecampus. phoenix. edu/Program/Credits/Program University of Phoenix (2009). Program credits. Retrieved from https://ecampus. phoenix. edu/Program/Credits/Program

Econometrics Project

Personal Consumption Expenditures, Personal Income, and CPI 1980 – 2011 April 24, 2010 Abstract The goal of this paper is to estimate the relationship between personal consumption and personal income among all Americans over the past 30 years. The data includes annual records for the four variables between the years 1980 and 2011. I have analyzed this data using the Ordinary Least Squares Method and ran a regression analysis in order to observe the relationship between my variables.In my model, I have used Real Personal Consumption Expenditures (PCE) as my independent variable, while the dependent variable is Real Disposable Personal Income Per-Capita. As well, I included two explanatory variables in my model which are the Consumer Price Index (CPI) and a Coincident Index. The model finds a positive relationship between personal consumption expenditures and personal income. It also shows that inflation is positively related to the independent variable of personal consumption.H owever the model demonstrates that there is an insignificant relationship between personal consumption and the Coincident Index. We can conclude that personal income has an effect on personal consumption and that there is a positive correlation between these two variables. Therefore, in general, we can assume according to this model that as personal income increases, personal consumption also increases. 1. Introduction Our economy is an ever-changing system that is affected by an infinite number of factors. Some of these factors include personal consumption, personal income, and inflation.I have chosen to look at how these factors may influence one another within the American economy. More specifically, I have chosen to research the influence of income, inflation, and the Coincidence Index on Americans’ consumption expenditures. I believe that individuals’ consumption expenditures may vary based on two main factors: A change in these individuals’ income and a ch ange in inflation. Many believe that as income increases, people will have more and will therefore spend more money and consume more.Some research suggests that larger household wealth is associated with higher personal consumption (Slacalek, 2009). In terms of inflation, some theories suggest that as prices rise and rates of inflation create uncertainty for the future, people will lower their consumption expenditures (Springer, 1977). However, since prices are higher, the total Personal Consumption Expenditures may still increase along with inflation. 2. Theory and Hypothesis In March, 2011, personal income increased by 0. 5 percent, while personal consumption expenditures for Americans increased by 0. 6 percent (Cohen, 2011).Based on this information, it can be concluded that the percentage increases for these variables increased nearly proportionately. I believe that this is not just a coincidence and that these variables actually share a relationship. Although this data is only for one month of one year, I hypothesize that this relationship would stay true if these statistics were to be taken over a period of several years. I believe that as Real Disposable Personal Income Per-Capita increases and individuals make more money, that people will spend more and consume more, meaning that PCE would increase.Since people would be making more money I expect that since they are more capable of spending money that they will indeed spend and consume more. I also theorize that CPI will have an effect on personal consumption. CPI, which is an indication of inflation, is an increase in prices in an economy relative to the money available in that economy. Since inflation means that you must pay more for the same goods, I hypothesize that as inflation increases, and prices rise, people will spend less, and therefore PCE will decrease. I also theorized that as the Coincident Index increases, PCE would also increase.This is because I believe that if the Coincident Index, w hich describes current economic conditions, goes up, then people will consume more while economic conditions are better. 3. Empirical Model and Data Using a multiple regression model, I estimated the relationship among my time-series data in order to learn more about my hypotheses. C = ? 0 + ? 1 *RDPI + ? 2*CPI + ? 3*CI C = -3. 540 + 3. 339(RDPI) +6. 888(CPI) +2. 315(CI) + ei Where: C= Personal Consumption Expenditures RDPI= Real Disposable Income: Per-Capita CPI= Consumer Price Index (Inflation) CI= Coincident IndexUsing Tinn-R, I came up with the following results. The Coefficients for this model are as follows: Estimate Std. Error t value Pr(>|t|) (Intercept) -3. 540e+03 3. 383e+02 -10. 466 3. 49e-11 *** RDPI 3. 339e-01 3. 903e-02 8. 555 2. 68e-09 *** CPI 6. 888e+00 3. 061e+00 2. 250 0. 0325 * CI 2. 315e+00 4. 713e+00 0. 491 0. 6271 As can be observed through these results, the t-values for both RDPI and CPI are greater than |1. 96|. Therefore, both of these variables are statist ically significant and consequently have an effect on Personal Consumption Expenditures.However, the t-value for the coincident index is not statistically significant, which means that we cannot conclude that it affects consumption. It can be assumed through this regression model that as personal income increases by 1 unit, consumption increases by 3. 339 units. As well, as PCE increases by one unit it can be assumed that PCE will increase by 6. 888 units. Therefore, I can conclude that my hypotheses regarding the relationship between consumption and income and consumption and inflation are accurate according to me regression model. However, these results may vary if other factors were to be considered in my model.As well, the results may be slightly off due to including the insignificant factor, the coincidence index. 4. Conclusion In conclusion, I have found the majority of my hypotheses to be true. I have found that both Personal Income and Inflation have an effect on Personal Co nsumption Expenditures and that both income and inflation have a positive relationship with consumption. However, based on my model, the Coincident Index does not share a relationship with PCE. I believe that this hypothesis of mine may be incorrect because the economic conditions of an conomy may not play a significant enough role on individuals’ consumption expenditures in order for this model to show that a relationship exists. Further research would need to be conducted in order for me to examine this relationship more closely. For example, other factors such as personal saving may influence personal consumption as well. In order to gather more clear and accurate results in the future, I would conduct more models, using more economic variables related to consumption in order to see what other potential factors may influence Personal Consumption Expenditures.References * Amadeo, Kimberly. â€Å"How Inflation Affects Your Life – The Impact of Inflation on Prices and Treasury Bonds. † US Economy and Business – US Economic Indicators – US Economic News. N. p. , n. d. Web. 24 Apr. 2012.