The regulatory policies for higher education in Mauritius and its Research Proposal

The regulatory policies for higher education in Mauritius and its contibution to the making of a knowledge hub. a comparative st - Research Proposal Example Mauritius is no longer just a country in the Pacific since they have adapted to the internalization of education followed by the opening of the local economy to the international market. It all began with the country’s involvement of the internationalization of education which â€Å"has forced Mauritius to adopt an economic rationale of creating higher education institution...– to foster economic and social development† (Ogachi, 2008). The dream of becoming a knowledge hub stems from the Tertiary Education Commission’s (TEC) Strategic Plan for 2007-2011. The plan concentrates on meeting the demands of globalisation and â€Å"rapid technological progress† (TEC, 2007, p.1). In order to fully realize this plan, it is â€Å"necessary to increase...expenditure for tertiary education and Research & Development† (Ministry of Education, n.d., p. iv). Aligned with the TEC’s action plan, the Mauritius government has used strategies to attract fo reign students to study in their country. As stated in the policy context, the strategy is to create a conducive learning environment so as to raise enrollment from roughly 7% to 30% (SAURA, 2008).

The Link Between Inflation And Unemployment Economics Essay

The Link Between Inflation And Unemployment Economics Essay The two main goals of economic policymakers are low inflation and low unemployment, however often these goals conflict. For instance, if the policymakers decided to use monetary or fiscal policy to expand aggregate demand then this would move the economy along the short-run aggregate supply curve to a point of higher output and a higher price level. The higher output mean lower unemployment as firms would need more workers when they produce more. On the other hand a higher price level, given the previous years price level, means higher inflation. Therefore, when policymakers move the economy up along the short-run aggregate supply curve, they reduce the unemployment rate and raise the inflation rate. Similarly, when policymakers contract aggregate demand and move the economy down the short-run aggregate supply curve, unemployment rises and inflation falls. The trade off between unemployment and inflation is often referred as the Philips curve. The Philips curve is an inverse relationship between the rate of unemployment and the rate of inflation in an economy. In another word, it is a reflection of the short-run aggregate supply curve so as policymakers move the economy along the short-run aggregate supply curve, unemployment and inflation move in opposite direction. The Phillips curve is a useful way to express aggregate supply because unemployment and inflation are such important measures of economic performance. The Phillips curve in its modern form states that the inflation depends on three forces and they are; expected inflation, the deviation of unemployment from the natural rate also known as cyclical unemployment and supply shocks. These three forces can be express in the follow equation: Ï€ = Ï€ e ÃŽ ²(u-u n ) + ʆ¹ Inflation = Expected Inflation (ÃŽ ² x cyclical unemployment) + supply shock Where ÃŽ ² is a parameter measuring the response of inflation to cyclical unemployment. There is a minus sign before the cyclical unemployment as high unemployment tends to reduce inflation. The equation above basically summarises the link between unemployment and inflation. The diagram below is an example of a short-run trade off between unemployment and inflation. When unemployment is at its natural rate, inflation depends on expected inflation and the supply shock. The parameter ÃŽ ² determines the slope of the trade-off between unemployment and inflation. In the short-run, for a given level of expected inflation, policymakers can manipulate aggregate demand to choose a combination of inflation and unemployment on this curve which is called the short-run Phillips curve. In the short run, inflation and unemployment are negatively related. In the long-run, the Phillips curve is vertical. This is because when actual inflation equals expected inflation, there is no trade-off between inflation and unemployment. In long-term equilibrium the actual rate of inflation must remain equal to the expected rate. Unemployment, u Inflation, Ï€ Long-Run Phillips Curve Short-Run Phillips Curve Inflation, Ï€ Unemployment, u There are two main causes of rising and falling inflation; they are demand-pull inflation and cost-push inflation. Demand-pull inflation occurs when aggregate demand in an economy outpaces aggregate supply. This is when the inflation goes up as a result of real GDP rises and unemployment falls which move the economy along the Philips curve. The demand-pull inflation diagram below illustrates that according to Keynesian theory, firms will employ people and the more people are employed, the higher the aggregate demand will become. Greater aggregate demand will lead to firms employing more people in order to meet the higher output. This is when the unemployment falls and the price increases therefore AD0 shifts to AD1. Cost-push inflation occurs when the price of goods or services increases which doesnt have and close substitutes for example oil. The cost-pull inflation diagram below illustrates that according to Keynesian theory, many prices are sticky downwards, so instead of price fa lling there would be a supply shock causing a recession. This is when unemployment rises and GDP falls and therefore SRAS0 shifts to SRAS1. Cost-Pull inflation Demand-pull Inflation SRAS1 AD0 Price level AD1 E2 E0 AD0 SRAS0 Y* Y0 P2 P0 SRAS0 Price level E0 Real GDP E1 P1 P0 Real GDP Y0 Y* A good example of link between unemployment and inflation can be seen in the United States. The graph below shows the history of unemployment and inflation in the United States since 1961. The four decades of data illustrates some of the causes of rising or falling inflation. As we can see from the graph, during 1960s policymakers were able to reduce unemployment in the short -run, however this caused the inflation to rise high. This was achieved by cutting tax in 1964, together with expansionary monetary policy which expended the aggregate demand and pushed the unemployment rate below 5%. Moreover, due to government spending as a result of Vietnam War, this expansion of aggregate demand continued in the late 1960s. Consequently, unemployment fell lower and inflation rose higher than intended. In 1970s, policymakers started off with trying to lower the high inflation of 1960s. The government imposed temporary controls on wages and prices and the Federal Reserve engineered a recession through reducing monetary policy but the inflation rate only fell slightly. By 1972, unemployment was same as 1962 however the inflation rate was 3 percent higher. At the start of 1973 policymakers had to deal with the large supply shocks caused by the Organization of Petroleum Exporting Countries (OPEC). During mid-1970s, OPEC raised their oil price pushing the inflation rate up to 10 percent. With the supply shock and temporary tight monetary policy, led to recession in 1975. High unemployment during the recession reduced inflation rate however further OPEC price raise pushed inflation back up again in the late 1970s. During 1980s there was high inflation and high expectation of inflation. So the Federal Reserve was determined to aim monetary policy at reducing inflation. Consequently, in 1982 and 1983 the unemployment rate reached its highest level in 4 decades. Fall in oil price in 1986 has helped reduce the unemployment rate and lowered the inflation rate down from 10 percent to near 3 percent. By 1987, unemployment reached 6 percent which was close to most estimates of the natural rate. The unemployment rate continued to fall throughout the late 1980s and reached to 5.2 percent in 1986 which led to a new round of demand pull inflation. The 1990s began with a recession as a result of contractionary shocks to aggregate demand. However, unlike the recession in 1982, unemployment in 1990 recession wasnt far above the natural rate therefore the effect on inflation was small. By the end of 1990s, both unemployment and inflation reached their lowest levels in many years. This could be due to a combin ation of events which helped keep the inflation in check despite low unemployment. However in 2000, inflation rate started to rise up again. The example of United States macroeconomic history displays the many causes of inflation. The two sides of demand pulled inflation can be seen during the 1960s and 1980s. In the 1960s low unemployment pulled inflation up and in the 1980s high unemployment pulled the inflation down. During 1970s the rise in oil price showed the effects of cost push inflation. http://static.flatworldknowledge.com/sites/all/files/29936/fwk-rittenmacro-fig16_004.jpg

Boot Camp Debate Essay -- essays research papers

The Boot Camp Debate In any of today's society no matter where you look there will be some evidence of crime present. This statement derives from a sociologist theory that says no society can exists without crime. The government is constantly looking for new ways to deal with these reoccurring problems. The focus has been placed upon the government to look into young offenders and the style used to punish them. Weapons possession is quite common among the youth, at least in urban Canada, between one-third and one quarter of students surveyed indicated that they had carried some form of weapon at school over the previous year. Data drawn from Statistics Canada has revealed that the number of reported incidents of violent crimes by males aged 12-17 have risen 64% and more than doubled for females during the decade beginning in 1989 and ending in 1999. A study conducted in Southern Ontario, exploring student perceptions of violence in schools, revealed significant levels of fear relating to possible victimi sation. It is these more serious crimes involving young offenders that the government has been forced to deal with. Many suggestions have been made and many bills have been voted on but still no "sure fire" solution to the problem exists. The latest idea brewing in Parliament is the use of boot camps to punish young offenders; however others believe sending young offenders to boot camp is not the answer and there are more efficient ways to correct their negative behaviour. The newest "brain-storm" that politicians have dwelled upon is sending young offenders that commit serious offences to boot camp. The first question that comes to mind is what is a boot camp? A boot camp is an alternative place to send youths between the ages of 12-17 who commit serious criminal offences. Boot camps have five basic goals: (1) incapacitation, (2) deterrence, (3) rehabilitation, (4) reduction of prison costs and crowding, and (5) punishment (Colledge & Gerber, 1998). These facilities are designed to resocialize the "bad-boys" and "bad-girls" into citizens that will be accepted back into society. The plan is to use a military style to punish the kids and in return teach them discipline and transform them back to law abiding citizens . "Punishment ranges from rigorous exercise - running extra laps... ...he rehabilitation of young offenders rather than shipping them off to prison or boot camps. The boot camps and prisons do not offer the youths the proper treatment needed to transform a person from a criminal back to a normal citizen of society. Places such as Custody Centers offer a more controlled and logical process of programs developed especially for the special kids sent to these places. It is believed that a program such as the P.G.Y.C.C. will ultimately be more effective in correcting the behaviour of young offenders and in conjunction lower the rate of youth crime around the country. References Colledge, D. and Gerbert, J. (1998, June). Rethinking the assumptions about boot camps. Federal Probation, vol. 62, issue 1, p.54. Honywill, B. (1996, Nov. 20). Boot camps not answer: panel: Must discourage conditions leading to youth crime. The Hamilton Spectator, p. N1. Simpson, L. (1996, Oct. 5). Academy targets troublesome teens: Military-style school for boys costs $20,400 a year. The Hamilton Spectator, p. A1. Prince George Youth Custody Center. [WWW document]. (n.d./ 2000, Mar. 22). Available: <http://members.pgonline.com/~pgycc/

Chapter 2 Principles of Management

Fundamentals of Social Responsibility: Corporate Social Responsibility: The managerial obligation to take action that protects and improves both the welfare of society as a whole and the interests of the organization. Davis Model of Corporate Social Responsibility: Keith Davis: A generally accepted model of corporate social responsibility. List of 5 propositions that describe why and how business should adhere to obligation to take action that protects and improves the welfare of society as well as of the organization.Davis model: Proposition 1: Social responsibility arises from social power: Business has power over society and can influence minority and environmental pollution issues. Proposition 2: Business should operate a 2 way system: Inputs from society and open disclosure to the public. Proposition 3: Social costs and benefits shall be considered prior to proceeding: Profits are not the only factors involved.Proposition 4: Social costs shall be passed on to the consumer: Busin ess can bot be expected to foot the bill for social activities; the cost must be passed along to the consumer as well. Proposition 5: Business has a responsibility for some social problems outside their normal area of operation: Business should help solve social problems, if they can. Performance of Social Responsibility Activities by Business: Perform all legally required social responsibility activities. Consider voluntarily performing social responsibility activities beyond those legally required.Inform all relevant individuals of the extent to which the organization will become involved in performing social responsibility activities. Performing Required Social Responsibility Activities: Federal Legislation requires that business perform certain social responsibility activities. Environmental Protection Agency(EPA): Enforces socially responsible environmental standards. Equal pay act of 1963: Equal pay for equal work. Equal Employment Opportunity Act of 1972: Highway Safety Act o f 1978 Clean Air/ Act Amendment of 1990.Voluntarily Performing Social Responsibility Activities: Assessing the positive and negative outcomes of performing social responsibility activities over both the short and long term, and the performing only those activities that maximize management system success while making a desirable contribution to the welfare of society. Social Responsiveness: The degree of effectiveness and efficiency an organization displays in pursuing its social responsibilities. Determining Whether a Social Responsibility Exists: Determine which specific social obligation are implied by specific business situations.Ex: tobacco execs need to consider reducing harm to public while increasing revenues. Social Responsiveness and Decision Making: Socially responsible organizations are both effective and efficient in meeting its social responsibilities without wasting organizational resources in the process. Approaches to meeting Social Responsibilities: Two types of pro posed approaches: Lipson S. Prakash Sethi Lipson's Approach: Incorporate social goals into the annual planning process. Seeks comparative industry norms of social programs.Presents reports to all stakeholders on social responsibility progress. Experiments with different approaches for measuring social performance. Attempts to measure the cost of social programs as well as the return on social program investments. S Prakash Sethi's Approach: Social obligation approach: Business has economic purpose and social responsibility is covered by legislature. Social responsibility approach: Business has both economic and societal goals. Social responsiveness approach: Business has both economic and societal goals but anticipates future impact of business practices.Planning Social Responsibility Activities: Determining how the organization will achieve its social responsibility objectives. Converting Organizational Policies on Social Responsibility into Action: Phase 1: Recognition, by top man agement, that the organization has some social obligation. Phase 2: Technical staff give input to top management for implementation. Phase 3: Complete employee acceptance of strategy and responsibility for implementation. Controlling Social Responsibility Activities:Managers assess or measure what is occurring in the organization and, if necessary, change these occurrences in some way to make them conform to plans. Areas of Measurement: Economic function area: Measure of economic contribution the organization is making to society such as fair wages, worker, safety, etc.. Quality of life area: Whether the organization is upholding or improving the general quality of life such as producing high quality items, preserving the natural environment, etc.. Social investment area: Assisting community organizations to solve social problemes such as education, charities, etc..Problem solving area: Dealing with social problems such as long-rang community problems. Social Audit: The process of m easuring the present social responsibility activities of an organization to assess its performance in this area. How society can help business meet social obligations: Set rules that are clear and consistent: Keep the rules technically feasible. Make sure the rules are economically feasible. Make the rules prospective, not retro-active. Make the rules goal setting, not procedure prescribing. Definition of Ethics:The capacity to reflect on values in the corporate decision-making process, to determining how these values and decisions affect various stake holder groups, and to establish how mangers can use these observations in day to day company management.. Why Ethics is a vital part of management practices: Productivity: If employees are treated ethically they will be loyal and productive. Stakeholder Relations: A positive public image is good for business. Government Regulation: If organization behave ethically, there is less pressure on regulation and corporate over-sight.Code of ethics: A formal statement that acts as a guide for the ethics of how people within a particular organization should act and make decisions. Creating an ethical workplace: The golden rule: Do unto others†¦ The Utilitarian principles: Greatest good for greatest number. Kant's categorical imperative: Universal rule of behavior; fairness. The professional ethics: Assume you are being judged by peers. The T. V. Test: Would you be comfortable saying it in front of national T. V.? The legal test: Is it legal? The four way test: Is it rightful?Is it fair? Will it build good will? Will it be beneficial. Sarbanes-Oxley Reform Standards Passed in 2002 to prevent future deception in publically owned companies. Focuses on promoting ethical conduct. Areas covered include maintaining GAAP, evaluating executive compensation, monitoring fundamental business strategies, understanding and mitigating major risk, and ensuring company structure and process that enhance integrity and reputation. Sup ports whistle-blowing to discourage deceptive management practices. Consequences: Significant fines and jail time.

Media Review

Al Gore’s environmental campaign is really becoming a very significant endeavor in this modern period. It is not only because of the fact that environmental degradation has really brought forth devastating effects in almost every parts of the world but also because of the idea that people all over the world have started to pay attention to the environmental problems. Global warming has been the focus of Al Gore’s environmental campaign. He showed how such phenomenon could really lead to serious environmental problem such as the intense change in climate, melting of the ice caps of the Polar Regions, health hazards to people due to intense heat, the ozone depletion, and many other environmental issues (Gore). According to Al Gore, that which could only lessen the effects of such global warming, if not really prevent them, is by being aware and having concern about environmental problems. Being aware, as he stressed out, is not enough. But being involved and participating in environmental check-ups and environmental preservation and protection are the most effective ways in solving the problems in the environment (Gore). Though Al Gore is becoming a political figure – which means that his endeavor in making the people realize the importance of caring for the environment can be seen by others as a form of political strategy to get the trust of the public, he becomes very firm on saying that his campaign has nothing to do with politics or something about it. He argues that even if he is not a public official or even if he is not holding any public office, he can still help the American government in treating the problems in the environment. Like what he said, everyone and anyone can do something about the environmental problems that are being experienced in this period. One need not have any political power to do it. Saving the world from the detrimental effects of environmental problems such as global warming can really be solved by having knowledge about and concern for the environment. Work Cited: Gore, Al. An Inconvenient Truth: The Crisis of Global Warming . Viking Juvenile , 2007. Â