Should education be regarded as a public good or merit good Essay

Should education be regarded as a public good or merit good - Essay Example It shall promote understanding, tolerance and friendship among all nations, racial or religious groups, and shall further the activities of the United Nations for the maintenance of peace." (art.26 - Universal Declaration of Human Rights) This is a research paper to find out if education falls under public good or merit good. For this purpose it is important to define public good or merit good. A public good in economics can be defined as a good that is non-rival which means consumption of the good by one individual does not reduce the amount of the good available for consumption by others (Varian, 1992). The term public good is often used to refer to goods that are non-excludable which means that it is not possible to exclude individuals from the good's consumption. If we take an example of a sweet, if it is consumed by a person it is not available for another person. Where as fresh air and clean drinking water may be considered a public good as it is not generally possible to prevent people from breathing and drinking it (Wikipedia, 2007a). There are very few absolutely public goods, but common examples include law, parks, street-lighting, defence, traffic light, etc. The theory of public goods was first developed by the economist Paul A. Samuelson. In his classic paper The Pure Theory of Public Expenditure published in the year 1954 he defined a public good as follows: ...[goods] which all enjoy in common in the sense that each individual's consumption of such a good leads to no subtractions from any other individual's consumption of that good... (Samuelson, 387-389) In other words public goods are those products where, for any given output, consumption by additional consumers does not reduce the quantity consumed by existing consumers. Since there is no marginal cost involved in producing the public goods, it is commonly thought that they must be provided free of charge. In other words those who benefit less than the cost of using the public good will not use it which will lead to a loss of welfare. Public goods are mostly non-excludable, which means that if once provided anyone can use them, which when charged will lead to "free-riding". This is the reason that these goods will not be provided by free market. However, the public pays a price through the taxes paid to the government (ieg.ee, N.D.). A merit good is defined as a good that is under-consumed if provided by the market mechanism. The main reason for this is individuals take into consideration how the good benefits them as an individual. They do not consider the benefits that consumption generates for others in society. In pure economic terms, this is because the positive externalities of the good are not internalized by consumers. A merit good is a product that society values and judges that each and every individual should have it regardless of whether an individual wants it or not (Wikipedia, 2007b). Merit goods are products that are generally not distributed by means of the price system, but based on merit or need of the society. These goods can be supplied by free market, but not on the right quantity. They are provided by state as "good for you" (ieg.ee, N.D.). Should education be considered as a public good or a merit good Traditionally, in many parts of the world

My School and Its Teaching Environment Essay Example for Free

My School and Its Teaching Environment Essay In my school, the teaching environment is very good for teachers and especially for the students. When you see the school, at first you will say â€Å" wow! Excellent facilities, playground for teachers and students, cozy cafeteria and a library with good ambience where you can study comfortably, all classrooms are air-conditioned, enough computers for students with the ratio of 1:1 with internet connection. Each student has internet password as well as the teachers and staffs. The school used Fiber Optic line for internet (this is part of my work where I maintain the internet connection for the whole school). In my first 2 years in this school, I was assigned in Middle School but this year I was transferred to Elementary Department as Head of Information Technology including repair and maintenance with 24 hours a week teaching load for students from grade 1 to 5 (too many works hehehe) forgot to mention at the same time I am one of the administrators for TOEFL (Test of English as Foreign Language) exam. Every year, especially year-end everybody is waiting for contract renewal, thinking who will be renewed and who will say goodbye. If someone will leave then we are thinking who will replace them. Why? Simply because we are waiting for another teacher who will introduce another technique in teaching or I simply put it this way for new teachers: If you can’t beat us, then join us†¦ hahahahaha! The Culture of this country (Thailand) is almost the same in our country (Philippines) when it comes to being hospitable and respecting other people. They have great respect with each other especially with the old ones. In my school, students develop respect and tolerance for all others, regardless of religion, race, or class. One of the most distinctive Thai customs is the wai. Showing greeting, farewell, or acknowledgement, it comes in several forms reflecting the relative status of those involved. Generally, the salutation involves a prayer-like gesture with the hands, and it also may include a slight bow of the head. This salutation is often accompanied by a serene smile symbolizing a welcoming disposition and a pleasant attitude. Thailand is often referred to as the Land of Smiles in tourist brochures. There are a number of Thai customs relating to the special status of monks in Thai society. Due to religious discipline, Thai monks are forbidden physical contact with women. Women are therefore expected to make way for passing monks to ensure that accidental contact does not occur. A notable social norm holds that touching someone on the head may be considered rude. Pointing at or touching something with the feet is also considered rude. In every activity we do whether it is curricular or extra-curricular, we always align it to their culture if this is acceptable or not. But since we do have native speakers, sometimes they don’t even care about the culture. They always say that â€Å"Everybody knows what Thailand is† (for them most of the Thai women are slut, people have already changed) but somehow these native speakers must learn how to adapt into this environment. Yes, maybe that is their perception in this county and they forgot that they are Teachers. Teachers should give moral values and educate them in proper way. One of the problems of this school and even this country, discrimination between Asian and English Native speakers are very obvious. Sometimes they just use these native speakers as front of the school but most of the teachers are Asian who are more dedicated to work and yet under paid compared to these native teachers. Our administrators are composed of Executive Director (owner), Associate Executive Director, Business Director, Curriculum Coordinator, Student Support Coordinator, Principals and PTA. PTA in this school is very active in every. If we have activities either curricular or extra-curricular, the parents are always there to support us. Just to name a few for extra-curricular activities: 1. Students vs Teachers and Staff football match 2. Teachers and Staff vs Parents football match 3. Teachers, Staff and Parents vs Military Personnel Football Match 4. Teachers and Staff Football Match These are some interesting extra-curricular activities that everybody loves to see. Because even the owner of the school also plays in this event. We do have some curricular activities such as: 1. Debate in English(I’m the coach) 2. Debate in Thai 3. Public Speaking 4. Spelling 5. Story Telling 6. Quiz bee

Division of labor in a Household Essay -- essays research papers

Division of labor in a Household   Ã‚  Ã‚  Ã‚  Ã‚  The division of labor in the household hold depends on the environment. Society creates gender ideology that affects the roles women and men take on in the household. In The Second Shift by Arlie Russell, she states three different ideologies of gender. There is the traditional, transitional and egalitarian ideology that determines what sphere men and women want to identify with, home sphere or work sphere. However, it depends what kind on the time period and society you live in that determines the â€Å"norm† gender ideology, which affects the division of labor in a household. The society, which affected the Mendoza and Ortega family that I have observed and interviewed, constructs views of the appropriate roles for men and women in the family devotion schema. Historical   Ã‚  Ã‚  Ã‚  Ã‚  An important period of United States history that affected the division of household labor was during the earlier industrial revolution. Before the industrial revolution in America, men and women work in the farm; it was a private family farm that both men and women worked. So around the 1830’s these farms were taking over by corporation, and during this time there was a growth of factories, trades and business in the new cities of America, which attracted men and women away from the farm life. However, there was a transition in economy of America, which affected men and women, but it affected them differently. The jobs that men were receiving were different from what women were getting. â€Å"In 1860, most industrial workers were men.† While, men where working in factories women where working in more domestic jobs, but only 15% of women were working for paid. Hence, most women stayed at home to take care of the second shift, housework. When men star ted working in factories and women working in domestic jobs, this change the way people lived, especially family life. Now men are leaving their homes, where they use to work as farmers, to city to work, while women primary stay at home to work. During this time period, the lives of men where changing more drastically, but women identity was still identifying with the home, while men were identifying with his paid work.   Ã‚  Ã‚  Ã‚  Ã‚  Nowadays, women’s lives have changed significantly due to the expansion of jobs that have gave women more opportu... ...n working, still the women were the one who did most of the housework. The placement of living also had an affect on their lives as well. As a native New York, the part of queens the Ortega family lives, would be consider as â€Å"suburbs† and the part of Brooklyn, the Mendoza family live in would be considered as the urban. Their surroundings affected their affirmation of their choice of gender ideology. In Queens, most women were stay-at-home mothers and expected the man to provides the finical needs. Sherry affirmed her notion of traditional mothers by giving examples of her neighbors to state that it’s the â€Å"norm† to take at home and take care of your children. On the other hand, Gen lived in an area where most of the mothers worked outside the homes. She stated that today, â€Å"women should not identify herself with only the home, but with the labor force as well.† Both families’ neighbor encouraged them to believe in their gender ideologies, which had some contradiction between what a person said they believed, their gender ideologies and what they actual did in the second shift. The Mendoza and Ortega family had one person, the wife/mother, doing more of the second shift, housework.

Aluminum :: Research Essays

Aluminum Aluminum is the second most abundant element in the Earth’s crust. It has a concentration of about 8.2 percent (Craig et al 264). Aluminum â€Å"is malleable, ductile, and easily machined and cast; and has excellent corrosion resistance and durability† (http://minerals.usgs.gov/). It is evident in everyday life. Aluminum is a very useful abundant metal. A large fraction of the mineral products we seek are metals, such as aluminum (Halleck, 1/20). The major uses of aluminum are transportation, packaging and containers, and building products. Some other uses are electrical and consumer durable goods (Craig et al 266). It is important in the use of transportation because it is lightweight, which enables more efficient use of fuels, and it is resistant to corrosion (Craig et al 266). â€Å"Commercially pure aluminum is comparatively soft and ductile†¦it has tensile strength of 13,000 pounds per square inch† when it is in its annealed condition (Hobbs 76). When the metal is strain hardened, its tensile strength is 24,000 pounds per square inch (Hobbs 76). The tensile strength can increase even more when other elements are added to the metal to form alloys. Some of these elements used for alloying are copper, iron, silicon, magnesium, nickel, and zinc (Hobbs 79). Aluminum is also common in minerals such as feldspar, mica, which are silicates, and clay. Most of aluminum production has been from bauxite. â€Å"Bauxite can form from the weathering of any rock that is aluminum bearing† (Craig et al 267). Most bauxite mining is done in tropical regions where there is not an abundant amount of cheap electricity or large markets for the aluminum production (Craig et al 268). The bauxite is crushed, washed, dried, and then shipped to processing sites. Aluminum is produced by the â€Å"electrolytic reduction of alumina in a molten bath of natural or synthetic cryolite† (Craig et al 268). This process is very energy intensive so it is done in areas where electricity is cheap. â€Å"Aluminum recovery from scrap (recycling) has become an important component of the aluminum industry† (http://minerals.usgs.gov/). About thirty percent of aluminum is recycled each year. Sixty percent of that is from new scrap and forty percent is from old scrap (http://minerals.usgs.gov/). Some examples of recyclable aluminum are automobiles, windows and doors, appliances, and cans. Aluminum is also used in many cooking utensils, electrical conductors, buildings, and in transportation industries.

Benefits of Coffee Essay

How much coffee have you consumed already this morning? One cup? Or maybe even two? Like most college students I enjoy my cup of Joe in the morning! Coffee is one of the greatest sources of antioxidants in the global diet. Consuming large amounts is not advised, but having reasonable amounts everyday can be very beneficial to your body. Today, I would like to inform you about some of the benefits of drinking coffee. 1. Lower Chances of Death. a. Let’s face it we are all going to die. b. Appears to lengthen time for people with heart disease and diabetes c. Kristen Kirkpatrick said that a study in 2012 showed that three or more cups of coffee a day lowers the risk of death regardless of whether participants drank caffeinated or decaffeinated coffee. 2. Makes your reproductive system happy. d. Men would you like a drink that could lower your chances for prostate cancer? And ladies wouldn’t you like to lower your risk for endometrial cancer? e. Kirkpatrick also says that a 2011 study found that men consuming at least six or more cups a day reduced their risk of prostate cancer by 20 percent! Another study published in the Journal Cancer Epidemiology, Biomarkers and Prevention found that women who drank more than four cups of coffee a day had a 25 percent lower risk of endometrial cancer. 3. Lower risks of Type 2 diabetes. f. A 2012 study found that a compound in coffee can actually help block a substance in the body called human islet amyloid polypeptide that may play a role in the development of diabetes. Further studies have demonstrated that caffeinated coffee consumption is linked to decreased diabetes risk as well. 4. Protects your brain. g. When you wake up to the smell of coffee in the morning do you usually smile? h. Coffee drinkers are less likely to develop dementia and Alzheimer’s later in life according to a study done in 2009 i. The smell of coffee can help reduce stress that could be associated with loss of sleep 5. Good for skin. j. Drinking coffee may help you to ward off basal cell carcinoma So, the next time you are wondering whether you should have that second cup of coffee to perk you up, relax. At least now you know how it could help you!

The Introduction of Goal-Line Technology as a Strategic Change in Football Essays

The Introduction of Goal-Line Technology as a Strategic Change in Football Essays The Introduction of Goal-Line Technology as a Strategic Change in Football Essay The Introduction of Goal-Line Technology as a Strategic Change in Football Essay This report discusses the introduction of goal-line technology as a strategic change to the game of football and the likely impacts on the organisations associated. Football has become a global business and is one of the few industries which has grown during the current financial crisis, with larger television deals and transfer fees than ever before. This report summarises two leading goal-line systems available before discussing the potential benefits and challenges of implementing the technology. The focus then turns to the impact such a change will have on the game’s stakeholders before finally drawing conclusions on how the implementation could be managed and whether the systems should be adopted. Introduction Goal-line technology is a proposed technology which is able to determine when the ball has crossed the goal-line, therefore indicating when a goal has been scored or not. Over the past ten years there has been great debate about whether this type of technology should be introduced to the game, however so far the concept has been rejected by FIFA, football’s world governing body. There are currently two leading systems which could be implemented and these will be explained in depth further on in the report. In 2010 the International Football Association Board (IFAB) agreed to re-examine goal line technology. It stipulated that any goal-line system must be accurate and the indication of whether a goal has been scored must be immediate and confirmed to the match officials only, within 1 second of the incident (FIFA, 2010). In recent years calls to introduce goal-line technology have intensified as a result of a number of high profile refereeing errors. A recent survey of 48 captains in the Europa League by international players union, FIFpro, found that 90% of respondents said they wanted goal-line technology introduced (CNN, 2010). In the modern game, where there are huge amounts of money at stake, and given the current economic climate, every decision is vital. There are plenty of arguments against the introduction of goal line technology and these will be discussed along with any potential advantages. Goal-Line Systems Available * Hawk-Eye System This system uses six cameras in the stands at either end of the field to track the position of the ball. The images are processed by a bank of computers in real time and the data is sent to a central computer, which combines all the information to determine whether or not the ball has crossed the line. If the ball has crossed the line then the central computer will transmit an automatic signal directly to the referee, such information could be communicated to a watch or an ear piece (Hawk-Eye, 2010). The Hawk-Eye system utilises cameras that can operate at up to 500 frames per second compared to standard broadcast cameras that operate at around 25 frames per second, which means that Hawk-Eye is able to detect if the ball crossed the goal-line for only a fraction of a second. The system compensates for the eventuality that players will obstruct the view of the ball (D’Orazio, Guaragnella, Leo and Distante, 2010) by using six cameras from different angles and Hawk-Eye is able to locate the ball accurately when only 25% of the ball is visible. The cost of implementing the system at one stadium would be around ? 250,000. * Cairos GLT System The Cairos system has been jointly proposed by football manufacturer and leading sportswear designer Adidas and Cairos Technologies AG. The system consists of thin cables installed underneath the penalty area and behind the goal-line. Electrical currents passed through the cables generate magnetic fields which are picked up by sensors in the ball when in the goal area. A transmitter inside the ball sends the data about the ball’s location to a ouple of receiver antennas which then transmit the data to a central computer. When the computer determines when the ball has crossed the goal-line it sends a radio signal to the referee instantly informing that a goal should be awarded. (Cairos, 2010). It is not currently known how much this system would cost to install although it is likely to be similar to that of the Hawk-eye system. SWOT analysis for goal-line technology. Impacts of Goa l-Line Technology Fig [ 1 ] (Dailymail, 2010) The introduction of goal-line technology has many benefits to the game of football and its stakeholders. The worldwide football industry generates billions of pounds in revenue through sponsorship and marketing deals with the largest clubs in the world raking in over ? 300m in revenue (Deloitte, 2010). With huge amounts of prize money on offer it is more important than ever to minimise the number of refereeing errors in the game. The most recent argument for introducing a goal-line system came at the 2010 FIFA World Cup where Frank Lampard’s shot against Germany had clearly crossed the line (Fig 1) but no goal was given. Had the goal been correctly awarded then the outcome of the game could have been totally different. As it was England exited the World Cup in the second round winning around ? 6m in prize money and missing out on potential prize money in excess of ? 19m. There are numerous other examples which show that wrong decisions have massive financial implications on football teams. The last few years have seen an increase in the abuse of referees as a result of poor decisions, in extreme cases referees have received death threats and chosen to retire. The introduction of goal-line technology could help to eradicate the problem as the technology rules out human error in relation to goal-line decisions. We have seen in tennis that since the introduction of hawk-eye there have been far less confrontations between players and officials. Players accept the outcome and this would be the same in football. As a result, referees would get 99% of goal-line decisions correct and players, managers and fans would be able to accept those decisions. Incidents of crowd trouble would also be likely to fall as everyone would be able to see the exact position of the ball and there would be no reason for fans to feel hard done by. The sport betting market is becoming an increasingly large industry, with Sport England estimating the value of spending on sport-related gambling in England grew from ? 1. 7bn in 1985 to ? 2. 8bn in 2008 (Sport England, 2010). It is also estimated that ? 1bn in the UK alone was staked on the 2010 FIFA World Cup (BBC, 2010). After the England v Germany match at the 2010 World Cup, bookmaker William Hill decided it would pay out to their customers who bet on Frank Lampard scoring in the match. The bookmaker estimated that this gesture would cost them a â€Å"six figure sum†. (William Hill, 2010). There are many other cases where goal-line incidents have cost the public and bookmakers, and these examples provide another argument for using goal-line technology and show the potential economic impact outside the football world. It should also be recognised that video technology is currently used in football and has been successful. National governing bodies use video technology to cite players after a game for dangerous or foul play that may have been missed by the referee, the necessary punishments are then handed out a similar system is also used in rugby union. The introduction of this process has helped to stamp out serious foul play in the game and in some countries has been further developed to punish players for simulation, or diving. This shows an example where technology has been introduced to the game and is helping to improve and maintain the games ethics. Goal-line technology would simply be another method of adding value to football through the use of technology. Potential Challenges of Implementation. There are various challenges and arguments to overcome before goal-line technology could be implemented, for example: 1. With installation costs in excess of ? 200,000, questions are being asked if it is appropriate to spend such a large amount of money on a goal-line system in the current economic climate. Although in relation to the current wages in modern football, ? 250,000 is a relatively insignificant amount for the top clubs. The technology is also an attractive sponsorship opportunity which would contribute to the installations. Tennis has proven that there is money to be made from selling the sponsorship of the Hawk-Eye system, Rolex sponsor the system at the Wimbledon Tennis Championships (Fernandez, 2010). This would also be true in football and it is likely that football would attract greater amounts of sponsorship money because of the popularity of the game, the greater numbers of spectators and the global television audience (Levine, 2000). On the other hand, the majority of clubs outside the top divisions would struggle to gain sponsorship and would therefore have to face the installation costs themselves. 2. FIFA believe that the rules for officiating football should be the same across all leagues and nations. If smaller teams could not attract sponsorship deals and could therefore not afford to install the technology, FIFA’s belief would not be realised and the already evident gap between the top flight teams and the lower divisions could be further widened. However, in Rugby League, video technology is only used in the elite tournaments and has proven a successful introduction. A similar approach could be taken in football, where either every team in a league agrees to install goal-line systems or no teams install them. This approach would allow the implementation of goal-line technology in a consistent and fair way and would solve the problem of which level of the sport to stop at. E. g. International, Professional, Semi-Professional. 3. Where do you draw the line with technology in football? Controversy can happen all over the pitch, in the form of off-side or penalty decisions for example, and technology could be introduced to analyse every decision. FIFA believe the human element of the game should remain the critical element of it and if we start using technology all over the pitch then it will change the way the game has been played for hundreds of years, therefore technology should be used to assist and not replace referees. Goal-line incidents are the only decision which is totally definitive and if a decision can be provided to the referee instantly then the flow of game will hardly be affected. FIFA has therefore indicated that if technology is ever introduced, it would only be used for goal-line incidents (FIFA, 2010). 4. Not every ground has suitable facilities to install the technology. If the Hawk-Eye system was adopted then clubs would need to have suitable stadia in which the cameras could be installed. Smaller clubs with small stadia may struggle to install the cameras in the optimum positions which could affect the accuracy of the system. If the Cairos GLT system was adopted there may be similar installation problems because the system has to be installed underneath the pitch. Many clubs now have undersoil heating already installed which could make it difficult to implement the Cairos system depending on whether these two technologies could be installed in tandem. The effects of Goal-Line Technology outside the game. The debate about goal-line technology has had an impact on industries linked to football, as well as other sports. FIFA have agreed to look into goal-line technology again which has stimulated competition and technological advance between the 17 companies who have proposed their systems which could be used, although the two systems discussed earlier appear to be the market leaders. Nevertheless the subject of line-calling technology has unearthed a niche market which is becoming increasingly relevant in all sports, thus leading to job creation and healthy competition within the market. The company whose technology is chosen would experience rapid growth because of the sudden demand for their product which would be implemented throughout the world. Because such a system is still in its infancy, there would be plenty of rival companies that would continue to develop their own systems for use in other sports or in other areas of the game. However, this could again raise the debate of where you draw the line with technology in football. It is likely that the implementation of goal-line technology would have little impact on the organisational structure of FIFA and other governing bodies, it is probable that a new department will be created to work in tandem with the chosen manufacturer and to fix any problems with the technology but major structural changes should not be necessary. A change in the laws of the game would be required to accommodate goal-line systems and a process would need to be implemented to state when a goal can be awarded and how this would be done. For example, the tennis model could be followed where the game would be stopped and a replay could be shown on big screens inside the stadium, or a simple signal could be sent to the officials only, indicating a goal should be awarded. It is likely that the latter would be adopted because it would not interrupt the flow of the game. Goal-line technology would have a great effect on the fans, both at the game and watching on television. We have seen in tennis that Hawk-eye creates excitement and tension amongst fans, adding value to the sport. A goal-line system would also have a similar effect in football, although it is likely that only the television audience would get the benefit of seeing the outcome because the game would have to be interrupted in order to show the outcome at the stadium. Fans would be happy that goal-line systems would rule out human error and it would also help to eradicate the blame culture where fans blame bad refereeing decisions for defeat. In the aftermath of the England v Germany match, the English fans and media placed the blame for the defeat on the referee and his assistants when in actual fact England were massively outplayed by Germany. The implementation of goal-line technology would take the emphasis away from questionable decisions and allow teams and fans to address the real issues. Another interesting point involves the legal consequences of implementing goal-line technology. If the technology was to fail during a game and give the wrong decision, would the club involved be able to sue FIFA or the manufacturer for loss of earnings? However, there have been no recorded cases of this occurring in other sports. Conclusions. There are many challenges associated with implementing any new technology in an organisation, and this will be no different if goal-line technology is introduced to football. Inevitably there will be teething problems however the ultimate success of such an implementation depends on how these problems are dealt with. I have drawn up a few recommendations which could help the implementation and transition process to make sure any issues are overcome: * Goal-line technology should be phased in over time It will take years to install goal-line systems in all suitable stadia across the world and therefore I feel that installing systems in the top divisions and tournaments, such as the UEFA Champions League or FIFA World Cup, would be a good starting point. Ultimately, these divisions and tournaments provide the highest financial opportunities to clubs and nations, therefore in today’s economic climate where football is seen as a business, it makes sense to begin with these top tournaments. As time progresses, implementation will move to the lower leagues and tournaments. * Goal-line technology will only be used in a fair manner Such technology should only be used if every team in a division has access to it. It would not be fair if only a select number of teams are able to experience the benefits. Either every team in a division utilises the technology, or none of them do. Bursary or funding schemes for lower league teams The national governing bodies could look to provide financial assistance to clubs who will struggle with the costs of implementing the technology. Or, the manufacturer could install the systems for free in exchange for the rights to sell the sponsorship of the system (Fernandez, 2010). FIFA and other governin g bodies will see plenty of benefits, both tangible and intangible, as a result of the implementation of goal-line technology: * Currently, FIFA has a poor reputation amongst the majority of the public throughout the world. Goal-line technology is wanted by the vast majority involved with football, including referees (BBC, 2010), and if FIFA approve its introduction it would be the first step in re-building its reputation across the world. It would be seen as a positive decision and would move football forward in line with other sports that have embraced available technologies. * Introducing the technology would greatly assist referees and this would help to reduce referee abuse by players and fans. Eventually, the technology could help to encourage more people to take up refereeing. Today, it is estimated that 7000 referees in England are leaving the game each season (Mole, 2009) * There are massive financial benefits to be gained through sponsorship of the systems. FIFA is a not-for profit organisation, yet in 2009 it recorded a positive annual result in excess of ? 100m (FIFA, 2010). The majority of revenue was made up of marketing and TV contracts and the sponsorship opportunities of goal-line technology, at events such as the FIFA World Cup, would increase revenues further. In conclusion I feel that goal-line technology has to be introduced to the game, we are seeing more and more examples of the need for such technology and with increasing amounts at stake for every game that is played it is time to take some of burden off referees and provide some assistance. Football has developed from a recreational game into a multi-billion pound industry and in the modern world the original laws of the game need to move with the times.

Federal Reserve Essays - Monetary Policy, Banking, Free Essays

Federal Reserve Essays - Monetary Policy, Banking, Free Essays Federal Reserve University of Phoenix The purpose of money was created to allow trade between people and countries for goods or services. The functions of money are: medium exchange which is when sellers are willing to accept money in exchange for goods and or services. Unit of accounts function of money gives the buyer and seller a way of measuring value in the economy. Store of value function of money works so that you can hold the rest of the money that is not use can be stored and use in the future. Standard of deferred payment function of money is for purpose in borrowing and lending. The Federal Reserve Bank manages the nations monetary systems by three monetary policy tools: Open market operations which are the buying and selling of Treasury securities like bills, notes and bonds. They have three reasons for conducting the system through open market operations and they are: the Fed completely controls their volume, can make both small and large open market operations and can implement the open market operation quickly with no administrative delay or required change in regulation. Discount policy is when the banks borrow money from the Fed by getting a discount loan with a discount interest rate. Reserve requirements are when the Fed reduces the required reserve ratio; it concerts required reserves into excess reserves. The Fed reserves requirements much more than it does open market operation. . Reference blurtit.com/q23326784.html HYPERLINK "encyclopedia.com/topic/Monetary" encyclopedia.com/topic/Monetarypolicy.aspx FEDERAL RESERVE PAGE 2 Running head: federal reserve PAGE 1