Online Student Profile Management System Free Essays

ONLINE STUDENT PROFILE MANAGEMENT SYSTEM by GREESHMA MALGIREDDY B. Tech. , Jawaharlal Nehru Technological University, 2007 A REPORT submitted in partial fulfillment of the requirements for the degree MASTER OF SCIENCE Department of Computing and Information Sciences College of Engineering KANSAS STATE UNIVERSITY Manhattan, Kansas. We will write a custom essay sample on Online Student Profile Management System or any similar topic only for you Order Now 2010. Approved by: Major Professor Dr. Daniel Andresen. Abstract All the students who are enrolled in Computing and Information Sciences (CIS) major in Kansas State University are required to submit their Program of Study (POS) which they manually do by filling in all the necessary details and submit the form to the department. The main objective of this project is to develop an online submission of program of study. The online student profile management system is a web-based application that provides students of CIS major to submit their program of study in an easy and efficient manner. This application mainly allows the students to enter their personal information (viz. , contact information, previous education) and to choose core as well as non-core courses of their choice. In addition the faculty of CIS department can also log on to the application and view the POS of the students by entering their wildcat ID. The primary focus is to get familiar with . NET framework and to code in C#. NET. This in turn uses MS SQL server 2005 as database for storing and retrieving of data. This project is implemented using C#. NET on Microsoft visual studio 2005. Table of contents List of Figures †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ v List of Tables †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ vi Acknowledgements †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. vii CHAPTE R 1-†¦ [continues] How to cite Online Student Profile Management System, Essay examples

Inequality at the Work Place

Question: Discuss about the Inequality at the Work Place. Answer: Introduction Each and every society is always characterized by specific stratifications. Depending on the nature of these divisions, the aspect of inequality tends to arise among the individuals. Within a societal set up, inequality may arise along specific boundaries for instance, age, gender, power, authority, ethnic orientation, religion, educational achievements and wealth just to mention but few. Business organizations present a societal unit comprising people from diverse backgrounds all brought together by the key goals and objectives of the organization. The human resource within organizations comprises different individuals which is the sole reason for the existence of inequality in organizations. In order to adequately manage inequality in organizations, it is important to highlight the various perspectives by writers and theories with regard to this concept. Despite the existence of various perspectives, this essay focuses on the symbolic interpretivist and postmodernist perspectives ( Arakawa and Greenberg, 2007). The discussion of the perspectives and the analysis of aspect of inequality in organizations shall be made while focusing on two articles namely Trapped by Metaphors for organizations: Thinking and seeing womens equality and inequality by Linzi Kemp and Deconstructing the privilege and power of employee engagement: Issues of inequality in management and human resource development by Brad, Joshua, Tonette and Raquel. The articles involve different approaches as demonstrated by the writers while highlighting the aspect of inequality at work place. From the analysis of these perspectives, the paper intends to explore some of the causes and impacts of inequality in organization. By comparing the two perspectives to inequality, the essay shall be summarized with recommendations on how managers can use this data on inequality to deal with organizational issues related to the concept in question (Trice and Beyer, 2009). Inequality at work place from the symbolic interpretivist point of view Reference article: Trapped by metaphors for organizations: Thinking and seeing womens equality and inequality by Linzi Kemp The symbolic interpretivist perspective is concerned with how individuals in a group use symbols and images and how these approaches affect the outcome of their relations and other collective processes within the group. From the interpretivist point of view, the aspect of social stratification in any society is inevitable hence it forms a basic function within organizations. This perspective highlight aspects such as symbolic predispositions, process as well as prior practices influence the nature of interactions between individuals within a group or organization. From this position, we can deduce that in any given group, individual tend to view each other based on their preformed images of them. For instance, variations in gender, ethnicity, religion and sexual orientation act as some of the basic symbols which determine the outcome of interactions between individuals at the place of work. (Bakker and Demerouti, 2007). It is also a fact worth noting that the above symbols are actual ly the elements which curve out the aspect of diversity at work place. Consequently, it can be highlighted that the different symbols used in groups constitute the diversity in the group and hence the existence of inequality. The arguments by Linz involve the use of various metaphors to outline the aspect of gender and women equality and inequality in organizations. The article which takes an interpretive approach highlights the various images of women as presented by the society and how these images impact the treatment of women in organizations. From the introductory portion above, we have deduced that various elements describe inequality in organizations. At the same time, different individuals tend to have varied approaches while highlighting the aspect of inequality. While others feel the aspects of gender, class, ethnic variations and religions are the leading reasons behind inequality, most post-modernist writers tend to believe that the desire for social stability, power, wealth and hence rise in status quo adequately explains the rise and existence of inequality in organizations (Bakker, Schaufeli, Leiter and Taris, 2008). For instance, by reviewing the thematic discussions in the chosen readings, we note that Linzi Kemp employs a more symbolic interpretive approach while exploring the aspect of inequality. This she achieves by narrowing the discussion to gender as one of the core elements which define inequality in organizations. The author notes the rather casual approach given to the feminine efforts in organizations as a result of prior and historical symbolic predispositions. (Claude and Michael, 2006). The basic idea here is that women are different from men in terms of a number of factors which may include rationality, work ethics, work output, commitment and quality delivery just to mention but few. These differences represent the symbols used to view and hence interpret their capabilities within the organizations. With reference to ancient research, women were never given many opportunities in organizations due to the prior belief that they were incapable of handling certain responsibilities. The prior belief acts as an ancient image of women which did and continues to adversely affect how women are viewed in organizations. As a result, most top positions in institutions and organizations would be dominated by men. This explains the rise of gender inequality in most organizations especially in the pas t centuries. However with the rise of modernism and postmodernism, the women have since been availed with almost equal opportunities especially in line with education. This implies that the women are well in a position to study and hence have the same academic qualifications just like the man (Chalofsky, 2007). They can therefore be employed in any organization and accorded top positions not necessary based on their gender but on academic qualifications. It is however a fact worth noting that this transition has been overlooked in certain spheres and as revealed in the reading, women still face opposition in certain areas where they lack equal chances with the men as a result of their gender. This amounts to conflicts in organizations due to the fact that inequality has been viewed as a tool for disunity and not necessarily an avenue for developing performance within the organization (Steven, 2010). The authors use of metaphors to present image of women in organizations from different perspectives indicates women inequality in the work place as an issue which is far from over. By basing the research on extensive review of literature, the article reveals views women inequality both from a theoretical perspective as well as from the point of view of postmodern writers. The discussions and findings however reveal a common aspect with regard to the treatment of women at the workplace (Timothy, 2007). The discussions also outline the fact that some of the unfair treatments towards the women are the leading causes of inequality and hence conflicts in organizations. Research indicates that the participation of women in the places of work has improved tremendously over the past years. However, theoretical stipulations point out that achieving equality especially for women in organizations has remained a hard objective to achieve due to the fact that gender remains a key organizational i ssue (Christian and Slaughter, 2011). With the continued review of the authors metaphoric assumptions, it can be deduced that the position given to women in organizations during the 19th and 20th centuries is quite different from the situation in the current modern world. The article indicates that women employment and them being accorded leadership positions was unheard of in the past (Collins and Callahan, 2012). However, the number of women entering the workforce and even getting leadership positions at board levels has improved significantly over the past years. This trend indicates that despite the existence of gender based issues in organizations, the corporate world and managers in particular has continued to device the right methodologies in a bid to ensure that inequality in terms of gender does not limit the womens opportunities especially in the work place. The changing trends serve to erase the ancient assumptions where organizations were only treated as a mans world and a no entry zone for the women. The cur rent organizational structures adequately factor in women hence giving them equal opportunities just like the men. The concepts summarized in the article indicate the conflicting views towards women and organizations which adequately outlines the conflict theory perspective to inequality as demonstrated by the writer. In order to enhance organizational cohesion and unity, it would be important to view women not based on the image of gender but as crucial objects within the human resource fraternity equally capable of achieving key organizational goals just like the men. Inequality in organizations from the post-modernist perspective Reference article: Deconstructing the Privilege and Power of Employee Engagement: Issues of Inequality for Management and Human Resource Development by Brad, Joshua, Tonette and Raquel According to Bakker and Demerouti (2008), the postmodernist perspective to inequality in organizations stipulates that a society is often divided along social, political and material boundaries. This perspective highlights these components as the main reasons behind inequality especially in groups and organizations. This perspective treats the interaction between individuals within any given social set as an avenue for competition for power, wealth, authority and the distributed resources. This perspective emphasizes on the role of the postmodern innovations on impacting inequality at work place. The dynamic society has led to a lot of transitions in communication, education systems; knowledge based management as well as differences in management approaches. This has led to rise in competition since each individual thrives to keep their grip on the power and privileges accorded to them within the organizations. When such approaches are not carefully controlled, the quest for power an d authority overshadows the need to observe organizational objectives and hence inequality at the work place. Similar to the prepositions deduced from the postmodernist perspectives, the article equally constructs inequality at the workplace along the boundaries of power, authority, wealth and class. Review of relevant literature equally lists these elements as some of the leading causes of inequality in organizations. It is however interesting to note that the postmodernists justify inequality by mentioning that the desire to remain in high places of power and authority leads to motivation of workers to offer more and exploit their capabilities (Jeff and Michael, 2009). However the authors assumptions are carefully outlined and the discussions end with amicable recommendations. The conclusions by the authors laced with the postmodernist approaches do not make inequality an obstacle to organizational growth but rather views it as a constructive phenomenon in organizations. The article focuses on power and privilege as some of the core determinants of inequality at the place of work. These are the very elements outlined by postmodernists as the reasons behind the existence of inequality at work place. From the authors arguments, we can deduce that privileges and power have a direct effect on value, experience and benefits of employee engagement. At the same time, the aspects of power and privilege have a special way of defining the context of a workplace. For instance when the persons in authority execute their responsibilities professionally and constructively, the work environment is likely to remain conducive and healthy for better performance and improvement (Richard and Kate, 2009). On the other hand, if an organization comprises leaders in high places who use their powers and authority to press unnecessary policies on the lower level workers then the workplace environment is likely to be characterized by grumbling, disunity, low engagement and poo r motivation. The authors in this article move further to outline the need for a more constructive approach which ensures positive impacts of inequality (Purcell, 2014). Despite the fact that inequality at the work place is inevitable, the reading suggest that it is within the sole power of the managers to ensure the existence of controlled systems which would not only see an improvement in the value of employee engagement but also ensure that this form of engagement improves both individual and organizational performance. This could be achieved by ensured adequate control of the powers and privileges given to the workers. The approach creates a unique system in which no worker feels discriminated despite the existence of different levels of power and privileges (Rich, Lepine and Crawford, 2010). Conclusion While symbolic interpretivist perspective on inequality views the concept as a cause of conflicts in organizations, the postmodernist approach offers a more liberal image where inequality is a depicted as a tool which could possibly be used by managers to enhance worker engagement (Richman, 2006). The two perspectives with reference to the two readings therefore reveal the varied sides of inequality in organizations. Due to the fact that the work place is characterized by a lot of diversity, the existence of inequality is almost inevitable. It is also a fact worth noting that when this issue is not adequately managed, it may lead to negative impacts on employee engagement and hence a decline on the general organizational performance. It would therefore be crucial for managers to come up with effective methodologies of managing inequality at the workplace. Such approaches may involve giving equal opportunities to both the men and women within the workforce without necessarily using th e image of gender to determine who gets the opportunities. The managers can also control the powers and privileges given to various workers within the organization as this would ensure that they use their privileges constructively and ultimately in a manner that benefits the organization. Training and communication to employees on the impacts of inequality would also help the managers to instill a positive perspective in the workers. With good management, inequality at the workplace can be easily changed from the challenge that it has been into an effective tool for organizational development. References Arakawa, D. and Greenberg, M. (2007) Optimistic managers and their influence on productivity and employee engagement in a technology organization: Implications for coaching psychologists.Coaching Psychology Review, 2, pp. 78-89. Bakker, A. and Demerouti, E. (2007) The jobs-demands resources model: State of the art. Journal of Managerial Psychology, 22, pp. 309-328. Bakker, A. and Demerouti, E. (2008) Towards a model of work engagement. Career Development International, 13, pp. 209-223. Bakker, A., Schaufeli, W., Leiter, M., and Taris, T. (2008) Work engagement: An emerging concept in occupational health psychology. Work Stress, 22, pp. 187-200. Claude S. and Michael, H. (2006) Century of Difference: How America Changed in the Last One Hundred Years. New York: Russell Sage Foundation. Chalofsky, N. (2007) An emerging construct for meaningful work. Human Resource Development International, 6, pp. 69-83. Christian, M. and Slaughter, J. (2011) Work engagement: A quantitative Review and test of its relations with task and contextual performance. Personnel Psychology,64, pp. 89-136. Collins, J. and Callahan, L. (2012) Risky business: Gay identity disclosure in a masculinized Industry. Human Resource Development International, 15, pp. 455-470 Jeff, M and Michael, S. (2009) Inequality and Society: Social Science Perspectives on Social Stratification. New York: W.W. Norton. Richard, W and Kate, P. (2009) The Spirit Level: Why Greater Equality Makes Societies Stronger. London: Bloomsbury Press. Purcell, J. (2014) Disengaging from engagement. Human Resource Management Journal, 24,241-254. Rich, B., Lepine, J. and Crawford, E. (2010) Job engagement: Antecedents and effects on job performance. The Academy of Management Journal, 53, pp. 617-635. Richman, A. (2006) Everyone wants an engaged workforce how can you create it? Workspan, 49, pp. 36-39. Steven, H. (2010) Europes Promise: Why the European Way is the Best Hope in an Insecure Age. California: University of California Press. Timothy, M. (2007) Poor Kids in a Rich Country: Americas Children in Comparative Perspective. London: Russell Sage Foundation. Trice, H. and Beyer, J. M. (2009) The culture of work organizations. Englewood Cliffs, NJ: Prentice Hall.

Keats And Longfellow Analysis Essay Example

Keats And Longfellow Analysis Paper When I Have Fears and Mezzo Caiman by John Keats and Henry Headwords Longfellow respectively, have similar themes such as the inevitability of death and the fear of living unfulfilled and inadequate lives. John Keats fears that he will live a life of inadequacy and fail to accomplish all of his dreams, but he understands that his goals are miniscule in the larger scope of life. Conversely, Longfellow maintains a morbid view of death and of the future itself, while Keats is more captivated by the human experience and despite his uncertainty about the future, feels that living is far more important than reaching his personal goals. The poems possess some commonalities, specifically in the beginning, where both complain about the temporary nature of life. Longfellow Half of my life is gone directly coordinates with Keats When I have fears that may cease to be. Both men fear that they will die before theyre able to accomplish their respective goals. Keats specifically fears that he will die Before my pen has gleaned my teeming brain, before he can get all of his thoughts onto paper and leave his mark on the world in a literary manner. Longfellow possesses a similar fear specifically that he has not fulfilled the aspiration of [his] youth and failed to build a tower of song with lofty parapet. Both men hope to leave some sort of lasting legacy on history but both understand that death is an inevitable fact of life and that time is running out for them to accomplish their goals. Neither man has accomplished all of his goals in life, whether it be Keats literary aspirations, or Longfellow wish to build a tower of song. However, both fear that the ultimate end will come too soon and put an end to their dreams. We will write a custom essay sample on Keats And Longfellow Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Keats And Longfellow Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Keats And Longfellow Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Despite both men fearing that death will come too soon for them, the apparent differences in their situations arise towards the middle of the poem. Specifically their experiences and views of love are expressly different. Longfellow has experienced times of passion and pleasure, but complains that the subsequent sorrow and care that it disabled him in the pursuit of his goals. Longfellow experiences of a love lost caused him great pain that slowed his progress towards his goals and ultimately adversely affected his life. However, Keats takes a different tone towards love. He views love as a beautiful and mysterious endeavor that he wishes to experience before his life ends. He feels that true love occurs With the magic hand of chance and finds it regrettable that he in unable to find true love. He thinks that his keen awareness of death will prevent him from being able to trace the huge cloudy symbols of high romance or prevent him from ever experiencing true love at all. Longfellow fear of death as well as his experiences in love keep him from completely accomplishing his goals, while Keats has lived an interesting and fulfilling life that he does not want to end, hence his fear of death. The end of the poems both show the conflicting attitudes towards life and death by using situations where the men can reflect on their lives and life in general. Both men walk to the edge of a geographical feature, Keats a shore, and Longfellow a hill overlooking a city. Keats looks forward to the future during his time resting on the shore and realizes that life is a grand endeavor, and a wide world exists outside the confines of his life. He realizes that his oils are unimportant on this grand scale and seems to find peace in this fact. Longfellow on the other hand, sees nothing but a vast city that symbolizes his past, and a cataract of Death thundering from the heights. Longfellow cannot move on from his past and henceforth cannot see any future for him at all, and will never achieve his aspirations. Keats on the other hand, realizes that he still has opportunity in his life and finds peace in the fact that he is still alive to achieve his goals, despite the realization that theyre not as significant as he once thought.

The United States Economy

The United States Economy Free Online Research Papers According to The World Fact Book at the Central Intelligence Agency, the United States economy ranked the second largest economy in the world. This essay sets out to analysis the real gross domestic product (GDP) of the United States from fiscal year 2004 to quarter one (Q1) of year 2009 so as to better understand the U.S. economic growth, contributors to U.S real GDP and the effects of the U.S. financial crunch from year 2007 to present. The essay will conclude that there may be no solutions to the problems of the U.S. economy that wont involve some pain and that government intervention – stimulus, direct control of large banks and automobile manufacturers, and more control of financial markets, may or may not be the answer. Only time will tell. U.S. Real GDP as of FY 2008 According to the statistics from U.S. Bureau of Economic Analysis (BEA), U.S. real GDP– the output of goods and services produced by labour and property in the United Sates – overall increased by $976.2 billions of chained (2000) dollars from fiscal year 2004 to fiscal year 2008, and reduced by $291.5 billions of chained (2000) dollars by Q1 of year 2009 (Table 1.0, Chart 1.0). According to Balakrishnan (28 August 2008), the government data showed that the economy expanded by an annualized rate of 3.3% in the three months to June 2008 due to robust consumer spending and net exports. This was much higher than the 1.9% pace that was first reported and the fastest rate in nearly a year. On the other hand, Balakrishnan (2008) reported that the growth in the first quarter of 2008 is sluggish, almost flat, after a 0.2% contraction in the last quarter of 2007, which was the weakest rate since 2001 and sparked predictions that the U.S. economy was set for a recession in 2008. Most of the growth reported in quarter two of 2008 came from higher overseas demand, rather than domestic strength. Exports grew at a hefty 13.2% annual rate instead of the 9.2% pace initially estimated, as foreign buyers snapped up cheap US goods thanks to a weakened U.S. dollar. Meanwhile, consumer spending, which underpins two-thirds of the U.S. economy, grew at an upwardly revised 1.7% annual rate rather than the 1.5% first reported, after tax rebates of up to $600 spurred shoppers who had cut back amid the economy’s problem. In 2008, seventy-two percent of the economic activity in the U.S. came from consumers (TIME, 2008). However, Gary Pollack at Deutsche Bank commented that the outlook for the economy was still bleak as consumer confidence remained low and the housing market was still grinding lower. The outlook for third quarter growth of 2008 was less than 1%, so he still had a negative outlook (Balakrishnan, 2008). True enough, U.S. real GDP dipped by $291.5 billions of chained (2000) dollars by quarter one of year 2009. To understand the factors of the declined in U.S. real GDP, we will focus on the BEA â€Å"preliminary† estimates released June 2009, for the first quarter (January, February and March) of 2009. The 2008-2009 recession continues An estimated negative 5.7% GDP growth for the first quarter of 2009 confirms that the recession that began in December 2007 has not yet ended. Is it getting better or worse? The decline in GDP of 5.7% in Q1 2009 was slightly smaller than the decline of 6.3% (final estimate) for Q4 2008. Bureau of Economic Analysis Announcement: Gross Domestic Product, First Quarter, 2009 (Advance) Real gross domestic product the output of goods and services produced by labor and property located in the United States decreased at an annual rate of 6.1% in the first quarter of 2009, (that is, from the fourth quarter to the first quarter), according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP decreased 6.3%. (Table 1 and Chart 1). Data extracted from: U.S. Bureau of Economic Analysis Are things getting better or worse? On a positive note, the BEA release cited an increase in personal consumption expenditures, the largest component of GDP. The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, private inventory investment, equipment and software, nonresidential structures, and residential fixed investment that were partly offset by a positive contribution from personal consumption expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, decreased. The slightly smaller decrease in real GDP in the first quarter than in the fourth reflected an upturn in PCE for durable and nondurable goods and a larger decrease in imports that were mostly offset by larger decreases in private inventory investment and in nonresidential structures and a downturn in federal government spending. Real personal consumption expenditures increased 2.2% in the first quarter, in contrast to a decrease of 4.3% in the fourth. Durable goods increased 9.4%, in contrast to a decrease of 22.1%. Nondurable goods increased 1.3 percent, in contrast to a decrease of 9.4%. Services increased 1.5%, the same increase as in the fourth. Real nonresidential fixed investment decreased 37.9%. PCE increased in all categories except food (-0.8%), housing (-0.01%), and transportation (-0.14%). The BEA release cited two key products, both improvements from Q4, Motor vehicle output subtracted 1.36 percentage points from the first-quarter change in real GDP after subtracting 2.01 percentage points from the fourth-quarter change. Final sales of computers added 0.05 percentage point to the first-quarter change in real GDP after subtracting 0.02 percentage point from the fourth-quarter change. Figure 1 shows the quarterly changes in real GDP growth from 1990 to the present. The general pattern of increases (peaks) and decreases (troughs) of the business cycles. The three troughs with low points below zero are the recessions of 1990-91, 2001, and 2008. Not all troughs reach below the level of zero. Most cycles simply decline as the rate of growth slows, but still reflect (although smaller) positive growth. The negative growth of Q4 2008 and Q1 2009 is the most severe downturn since the early 1980s. Data extracted from: National Council of Economic Education Real GDP by Sector, First Quarter 2009 Real personal consumption expenditures increased 2.2% in the first quarter, in contrast to a decrease of 4.3% in the fourth. Durable goods increased 9.4 percent, in contrast to a decrease of 22.1%. Nondurable goods increased 1.3%, in contrast to a decrease of 9.4%. Services increased 1.5%, the same increase as in the fourth. Consumers are spending more. Real nonresidential fixed investment decreased 37.9% in the first quarter, compared with a decrease of 21.7% in the fourth. Nonresidential structures decreased 44.2 %, compared with a decrease of 9.4 percent. Equipment and software decreased 33.8%, compared with a decrease of 28.1%. Real residential fixed investment decreased 38.0%, compared with a decrease of 22.8%. Investment by businesses and households (houses) are slowing at an increased rate. Real exports of goods and services decreased 30.0% in the first quarter, compared with a decrease of 23.6% in the fourth. Real imports of goods and services decreased 34.1%, compared with a decrease of 17.5%. Both imports and exports decreased, but net exports remained a negative number in the determination of U.S. GDP. Net exports are subtracted from GDP. Real federal government consumption expenditures and gross investment decreased 4.0% in the first quarter, in contrast to an increase of 7.0% in the fourth. National defense decreased 6.4%, in contrast to an increase of 3.4%. Nondefense increased 1.3%, compared with an increase of 15.3%. Real state and local government consumption expenditures and gross investment decreased 3.9%, compared with a decrease of 2.0%. The recent increases in government spending, which had been the only positive component in Q4, reversed in Q1. Figure 2 shows the value of the sectors of U.S. GDP in Q1 2009 in current (nominal) dollars and in chained dollars (adjusted for inflation). Personal consumption expenditures were, by far, the largest percentage of GDP (almost 70%). Private investment was only 11% of GDP in Q1, but that component decreased over 24% in the last year. The increase of 2.6% of PCE was approximately $379 billion. The 24% decrease in investment was about $370 billion. The increase in consumption was offset by the decrease in investment from Q4 2008 to Q1 2009. Although imports and exports are a relatively small percentage of the U.S. economy, their decreases show that problems in the United States impact the world economy and foreign economic problems impact the U.S. Figure 2: U.S. Gross Domestic Product First Quarter 2009 (Advanced Estimate in $ billions) Current Dollars (nominal) Chained Dollars (adjusted for inflation) Gross Domestic Product 14,075.5 11,340.9 Personal Consumption Expenditures 9,955.7 8,214.2 Private Investment 1,579.8 1,329.8 Net Exports -337.7 -308.4 Government Expenditures 2,877.7 2,073.8 Percent Change from Q1 2008 (final) to Q1 2009 (advance) Gross Domestic Product -2.6% Personal Consumption Expenditures -1.2% Private Investment -24.2% Exports -11.3% Imports -16.5% Government Expenditures 1.7% Data adapted from: Business Cycle Dating Committee, National Bureau of Economic Research, report on â€Å"Determination of the December 2007 Peak in Economic Activity,† December 11, 2008: nber.org/cycles/dec2008.html The Impact of the Recession Since the declaration of the current recession by the National Bureau of Economic Research (NBER) Business Cycle Dating Committee in December 2008 (citing that the recession began a year earlier in December 2007), U.S. economic conditions have worsened. GDP growth (despite the popular belief) is not the sole determinant of a recession. The NBER defines a recession this way: A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators. A recession begins when the economy reaches a peak of activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion. Because a recession is a broad contraction of the economy, not confined to one sector, the committee emphasizes economy-wide measures of economic activity. The committee believes that domestic production and employment are the primary conceptual measures of economic activity. The committee views the payroll employment measure, which is based on a large survey of employers, as the most reliable comprehensive estimate of employment. This series (data report) reached a peak in December 2007 and has declined every month since then. What Happens? Increased unemployment. When consumer or business spending decreases, the demand for labor decreases. Employment may lag recovery efforts, as it takes time for employers to increase output and create jobs. Decreasing investment. When firms expect less demand for their goods and services, they will cut costs and not invest in productive capacity. Investment spending decreased almost forty percent in the last quarter. Lower stock market prices. If the recession results in lower corporate profits and uncertainty about future values, stock prices may fall. As investors sense a recovery, stock prices may rise and be an indicator of a better economy in the future. Increased government spending and budget deficits. Decreased output and employment leads to lower tax revenues (income tax, sales tax, corporation taxes, etc.). Some government programs, such as unemployment compensation will increase. More government borrowing will mean higher more debt to repay and higher taxes in the future. Lower price level. Reduces spending typically results in less price pressure. The result is a lower rate of inflation. Greater problems will occur if prices fall – deflation. A recession may put pressure on firms to reduced prices to compete. Lower prices and profits are a disincentive to invest and increase output. According to the following data about the performance of the U.S. economy since the beginning of the current recession (Figure 3), the data for real GDP growth shows trends of employment and unemployment rate significantly worsened (almost continually) since December 2007. As payroll employment decreased, the unemployment rate increased (with few minor exceptions). As GDP growth slowed and turned negative, the unemployment rate increased and payroll employment decreased. As payroll employment decreased and real GDP decreased, there was little inflation and, at times, short periods of deflation in consumer prices. Figure 3: U.S. Economic Data December 2007-March 2009 Real GDP Growth (Quarterly) Payroll Employment Unemployment Rate (CPI-U) Consumer Price Index (%change) Dec 2007 -0.2 (Q4) 120,000 4.4% 0.3% Jan 2008 -72,000 4.9% 0.4% Feb 2008 -144,000 4.8% 0.2% Mar 2008 0.9 (Q1) -122,000 5.1% 0.4% Apr 2008 -160,000 5.0% 0.2% May 2008 -137,000 5.5% 0.5% June 2008 2.8 (Q2) -161,000 5.6% 0.9% July 2008 -128,000 5.8% 0.7% Aug 2008 -175,000 6.2% 0 Sept 2008 -0.5 (Q3) -321,000 6.2% 0 Oct 2008 -380,000 6.6% -0.8% Nov 2008 -597,000 6.8% -1.7% Dec 2008 -6.3 (Q4) -681,000 7.2% -0.8% Jan 2009 -741,000 7.6% 0.3% Feb 2009 -651,000 8.1% 0.4% Mar 2009 -6.1 (Q1) -663,000 8.5% -0.1% Data adapted from: CPI monthly/annual and Unemployment rate data http://data.bls.gov Conclusion Summary As the economy loses jobs and output, people lose income. As incomes decrease, demand decreases. When the decrease in demand results in more job losses, the economy can spiral downward. The April 29 BEA report notes that Current-dollar personal income decreased $59.9 billion (2.0%) in the first quarter, compared with a decrease of $42.9 billion (1.4%) in the fourth. Many say that the United States (and may other nations) is just entering a recession that will get worse before it gets better. Others sense that we are near, if not at, the bottom. Personal consumption expenditures did increase in the last quarter. Although consumer spending may have increased, private investment dropped almost 40% in Q1, 2009. Less investment means fewer jobs are being created – either because companies choose not to hire more employees or because businesses have reduced their purchases of tools, vehicles, technology and other means of production. Pros and Cons of U.S. economy slowdown For Americans, a global slowdown, short of a recession, would not be all bad news. Exporters would benefit, though they account for only 12% of the economy. A gradual global slowdown would also give the Fed far more room to maneuver without the threat of stoking inflation. Social effects: volunteerism bloom According to Senior (2009), volunteerism is booming in New York. Compared with the first quarter of year 2008, volunteerism has seen a 32 percent increase. Also, people are initiating public discussions that reevaluate the purpose of work- as if trying to remind us, after a long bender of risk-taking and creative economics, that there’s dignity in secure, generative labor. This June, as the economy was slowing, Drew Gilpin Faust, Harvard’s new president, used her baccalaureate address to discuss the complicated allure of Wall Street. Her closing thoughts contained both an entreaty and admonition: â€Å"If you don’t pursue what you think will be most meaningful, you will regret it.† (The Harvard Crimson later reported that 8 percent fewer graduates would be heading into the financial and consulting sectors than the year before.) A more affordable city, better attitudes toward work and leisure, finer civic morals- these are silver linings for culture and United States’s luckier people, the ones who are still working or have some other means to get through this crisis. But for those facing financial hardship, which is ultimately what recessions are all about, these improvements are minor consolations. We have heard a lot about bankers cast out to sea. But the unemployment rate among unskilled men, particularly African-Americans and Latinos, is disproportionately high. As Mike Wallace points out, a constrained job market often offers the least educated and poorest poor the fewest options. â€Å"During the Great Depression,† he notes, â€Å"when poor women lost garment-shop jobs, many turned to the street-corner ‘slave markets’ of Brooklyn and the Bronx, renting themselves out for a pittance as domestic laborers, or they resorted to sex trades ranging from taxi dancing to prostitution .† No one is suggesting things will get that dire this time around. But recessions do not tend to be moments when cities can expand their social safety nets, and this time is no exception: In order to close the budget gap, Bloomberg is proposing reductions across the board- including cuts in child-welfare centers, homelessness programs, and certain immigrant services. The Spanish-language press produces a steady stream of stories about the devastation of small businesses and the sharp decrease in wages sent back home. â€Å"In some cases, the flow of money has reversed direction,† says Alberto Vourvoulias, the executive editor of El Diario. â€Å"People are asking relatives at home to go into their savings and send money here. Employment has decreased, but costs of living here remain incredibly high.† â€Å"It’s possible we’ll end up with the good parts of the seventies- a rich bohemian culture- and not the bad,† says NYU sociologist Dalton Conley. Nor is it just the poorest poor who are suffering. This recession may provide a foothold for some middle-class Americans, but it will just as surely squeeze out others. A fair number of families overleveraged themselves at the peak of the boom, assuming they’d have two incomes, and now find themselves in more precarious arrangements; those who did not own homes but are suddenly contending with lost jobs or lower wages are barely scraping by. And for Americans families whose mothers stayed at home by choice, rather than necessity, it is possible this downturn will force them to reconsider the consequences of that decision if their husbands are now unemployed. Psychological effects of unemployment Most recent studies on the subject suggest that the psychological effect of unemployment is even greater than the loss of income that accompanies it. Andrew Oswald, an economist at the University of Warwick, has collected happiness data from hundreds of thousands of people both in the United States, and what he’s consistently seen is that people recover more quickly from becoming disabled, even widowed, than from the long-term loss of a job. â€Å"People may draw their benefits from the government,† he says, â€Å"but they don’t seem to psychologically acclimate.† Everyone tends to have a natural hedonic set-point, a zone within which their internal mood-thermostat tends to hover, just like their weight. Sustained unemployment is one of life’s few upsets that seems to permanently depress it. Even if this recession is shorter than pessimists predict, those who are laid off in this period will still pay a concrete, long-term price. â€Å"It’s what economists call ‘scarring,’?† explains Oswald. Downsides But there are downsides too: the U.S. would see high energy prices as Asias demand for oil kept soaring, a continued dollar slump as low interest rates made it less attractive to hold dollar-denominated securities, and the threat of rising inflation as a weak dollar made imports more expensive. And a global recession (generally defined as growth of less than 2.5%; since the Depression, global growth hasnt actually gone backward) would be just plain bad news, depriving companies of the markets at home and abroad. So the crucial question is whether the countrys policymakers - in particular the Federal Reserve - are capable of steering the economy between the twin risks of a painfully deep recession and yet another bout of unsustainable, debt-fueled consumer spending. There seems to be little controversy over whether the Fed should ease rates, but theres lots of controversy over when and how much. The Jan. 22 rate cut came as a shock, but it did seem to calm the markets, if not buoy them. Recommendation â€Å"The debate is not whether we’re going to have a soft landing or a hard landing in the U.S. but how hard the landing is going to be,† says Nouriel Roubini, professor of economics at New York University. He sees a sharp, possible year-long U.S. recession and a global slowdown. Despite Asia’s torrid growth, consumers in China and India accounted for only $1.6 trillion of the world’s spending in 2007, a tiny fraction of the $9.5 trillion spent by Americans, according to Stephen Roach, head of Morgan Stanley’s business in Asia. It is impossible to pull U.S. spending back without sending ripples through the rest of the world. So what happened now? Among economists, investors and policymakers, there’s little consensus about how long this recession is going to last, or how the U.S. and the world will react to that bitter medicine. What has become evident is that globalization cannot insulate us from recessions. The question is whether an increasingly integrated global economy can help soften the pain we are likely to feel at home – or will make the pain worse. The lesson here may be that there is no solution to the problems of the U.S. economy that wont involve some pain. One interesting dynamic that will play out over the next few years is that some people and some countries are in far better shape to weather a slowdown than others. Right now, the U.S. isnt one of them: with our trade deficits and federal budget deficits, we may be more vulnerable than other economies to the effects of a broad global downturn. And so whatever happens in the markets this year, you probably will not feel as house-proud as you did two years ago. Someone you know will be looking for a new job. And gas wont be getting much cheaper. The Fed cant magically make all that go away. Neither can Congress or the White House. The best they can do is keep it from getting any worse than it has to be. References 1. Bureau of Economic Analysis: Advance estimate of U.S. gross domestic product, first quarter, 2009. Retrieve on 28 June 2009. www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm 2. Bureau of Economic Analysis: Measuring the Economy: A Primer on GDP and the National Income and Product Accounts. Retrieve on 28 June 2009. www.bea.gov/national/pdf/nipa_primer.pdf 3. Bureau of Economic Analysis: Overview of the U.S. Economy: Perspective from the BEA Accounts. Retrieve on 28 June 2009. www.bea.gov/newsreleases/glance.htm 4. Business Cycle Dating Committee, National Bureau of Economic Research, report on â€Å"Determination of the December 2007 Peak in Economic Activity,† Retrieve on 5 July 2009. nber.org/cycles/dec2008.html 5. Landefld J.S., Eugene P. Seskin, and Barbara M. Fraumeni, Taking the Pulse of the Economy: Measuring GDP. Journal of Economic Perspectives, Volume 22, Number 2, Spring 2008, Pages 193–216. Retrieve on 30 June 2009 www.bea.gov/about/pdf/jep_spring2008.pdf 6. Balakrishnan A World economy: US recession fears eased by revised figures. Business article. Retrieve on 2 July. guardian.co.uk/business/2008/aug/28/useconomicgrowth.useconomy 7. Central Intelligence Agency; World Fact Book. Retrieve 1 July 2009. https://www.cia.gov/library/publication/the-world-factbook/rankorder 8. Stewart H. Now US debt hits 7 percent of GDP. Business Article. Retrieve on 1 July 2009 guardian.co.uk/business/2006/mar/12/usnews 9. The Conference Board: Global Business Cycle Indicators. Retrieve on 30 June 2009. www.conference-board.org/economics/bci/pressRelease_output.cfm?cid=1 10. TIME: Can the world stop the slide, Feb 4 2008. Business article. Pg. 27. Retrieve on 30 June 2009 www.time.com/time/businessarticle Research Papers on The United States EconomyThe Effects of Illegal ImmigrationNever Been Kicked Out of a Place This NiceTwilight of the UAWPETSTEL analysis of IndiaLifes What IfsDefinition of Export QuotasResearch Process Part OneThree Concepts of PsychodynamicInfluences of Socio-Economic Status of Married MalesArguments for Physician-Assisted Suicide (PAS)

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