Tourism Planning Essay Example | Topics and Well Written Essays - 1500 words

Tourism Planning - Essay Example The role of governments in the planning phase of tourism both regionally and nationally is significant since it fosters growth at all levels and increases the chances of economic prosperity and wellness for the related stakeholders. (Gunn, 2003) I disagree with the premise that tourism planning is just about what will be built and where – rather it is a complete mindset which needs to be understood within the thick of things. The tourism sector must make sure that the role of government is encouraging at consistent levels and there are no hiccups in the wake of the provision of funds for the growth regimes of the tourism industry. Tourism would be conducted best if it is left to the locals as it is a thriving industry. However, the role of government is of the essence as it works as a helping agent in the whole scheme of things. In its own right, tourism planning is an art. This is because it is difficult living up to the expectations of the varied tourists hailing from different regions of the world. The local tourism measures seem more pertinent for the region under consideration since this lays the foundation stone for the upheaval of the tourism industry in a localized zone. These measures boost the economic and societal aspects which are rampant within the region and thus facilitate the common man with the provision of job opportunities, skilled labor and so on and so forth. Nationally, the economy gets a facelift and there are changes in the lines of commerce and industry since the country realizes its true potential elsewhere. (Kirk, 1997) Consequently, people come to terms with the advancements and technological changes that start to happen within such lands and thus hail the efforts undertaken by the related ministries.  Ã‚  

Quantitative Risk Analysis in Investment Essay Example | Topics and Well Written Essays - 2000 words

Quantitative Risk Analysis in Investment - Essay Example Risk analysis is common now-a-days in all types of investment as the modern risk management literature has grown significantly. Many theories and models have been developed in the area of risk management by eminent thinkers. This paper takes a look at the classical risk analysis framework, namely mean-variance framework. The essay takes a descriptive approach wherein the mean variance model is discussed in the context of single as well as portfolio investment. An attempt is also made to incorporate the application of the model in pricing of insurance policies. Risk analysis in the context of investment is the process of quantifying the possibility of incurring loss to the return from the investment. The return from an investment is prone to risk when the actual return varies from expected return. Since risk measures the possibility of incurring an outcome, it can be measured with the help of probability and other statistical measures. As defined by T. V Bedford, risk analysis is the process of identification and quantification of scenarios, probabilities and consequences (Bedford 2001 p. 11). It is notable here that risk analysis cannot be possible without measuring return from the investment as risk and return are correlated and risk measures how actual return varies from expected return. ... Risk analysis of individual security investment is relatively easy as compared to that of portfolio. Risk Analysis in Portfolio Investment Portfolio is the collection of securities selected for investment. The logic behind investors' preference for portfolio rather than individual security is that the risks in portfolio can be reduced more easily than that of individual security. In other words, portfolio facilitates the risk diversification through spreading risks across all securities in the portfolio. The loss in one security can be nullified by the profit from another security/ securities in a portfolio. Calculation of Expected Return The analysis of risk in a portfolio is possible only after measuring return there from. The level of return expected from an investment is calculated by using the expected value of the distribution, and the probability distribution of expected returns for a portfolio. Then, risk is measured by the degree of variability around the expected value of the probability distribution of returns. The most accepted measures of this variability are the variance and standard deviation (Frank 2002 p. 21). The expected return from a portfolio can be estimated with the following model: (Source: Frank 2002 p. 21) Where, = 1.0; n = the number of securities; = the proportion of the funds invested in security i; = the return on i th security and portfolio p; and = The expectation of the variable in the parentheses (Source: Frank 2002 p. 21) Calculation of Portfolio Risk Risk is the chance that actual return will differ from their expected values. The expected value of return can be obtained from probability estimates for expected

Organization of the Future Essay Example | Topics and Well Written Essays - 750 words

Organization of the Future - Essay Example the liberty to do what they want with the business and this means whether the business will make profits or not the owner has full control over all the possible outcomes (Goldsmith, 2009). A sole proprietor cannot be fired by anybody because he owns the business thus he can do his job at his own speed. In this form of business, owner can decide to give any name that he or she wants to and this also means that the owner can call his business by his name or just come up with a fictitious name without being asked for any explanation. This is the most famous legal forms of commerce due to the fact that it has the ease of setup, nominal cost and its wide simplicity (Mole, 2003). When it comes to legalizing a sole proprietorship business, one only needs to register his or her name and get legal licenses of the business and there it is ready to start operating. One of the only disadvantages of the sole proprietorship is that the business owner remains responsible for any losses that the business undertakes and this means that if the business goes through a financial crisis then creditors are allowed to come and bring lawsuits against the business owner. When such suits take place successfully then a sole proprietor is forced to pay the debts with his or her own pocket money and this is where the pain of the money lost is greatly felt (Witte, 2000). Another benefit of a sole proprietorship business is that while business checks are written by creditors, they are printed with the name of the business owner or with the fictitious names that the business bares and this means that a sole owner can bring lawsuits against another company that bears its business name. Many businesses in the modern world begin as a sole proprietorship then along the way depending on its rate of growth it graduates to more complex forms and this also benefits the owner in a huge way (Ostroff, 1999). Competitors of Cosmos Cuisine are big restaurants and hotels in town such as Jazz restaurant

Quantitative Risk Analysis in Investment Essay Example | Topics and Well Written Essays - 2000 words

Quantitative Risk Analysis in Investment - Essay Example Risk analysis is common now-a-days in all types of investment as the modern risk management literature has grown significantly. Many theories and models have been developed in the area of risk management by eminent thinkers. This paper takes a look at the classical risk analysis framework, namely mean-variance framework. The essay takes a descriptive approach wherein the mean variance model is discussed in the context of single as well as portfolio investment. An attempt is also made to incorporate the application of the model in pricing of insurance policies. Risk analysis in the context of investment is the process of quantifying the possibility of incurring loss to the return from the investment. The return from an investment is prone to risk when the actual return varies from expected return. Since risk measures the possibility of incurring an outcome, it can be measured with the help of probability and other statistical measures. As defined by T. V Bedford, risk analysis is the process of identification and quantification of scenarios, probabilities and consequences (Bedford 2001 p. 11). It is notable here that risk analysis cannot be possible without measuring return from the investment as risk and return are correlated and risk measures how actual return varies from expected return. ... Risk analysis of individual security investment is relatively easy as compared to that of portfolio. Risk Analysis in Portfolio Investment Portfolio is the collection of securities selected for investment. The logic behind investors' preference for portfolio rather than individual security is that the risks in portfolio can be reduced more easily than that of individual security. In other words, portfolio facilitates the risk diversification through spreading risks across all securities in the portfolio. The loss in one security can be nullified by the profit from another security/ securities in a portfolio. Calculation of Expected Return The analysis of risk in a portfolio is possible only after measuring return there from. The level of return expected from an investment is calculated by using the expected value of the distribution, and the probability distribution of expected returns for a portfolio. Then, risk is measured by the degree of variability around the expected value of the probability distribution of returns. The most accepted measures of this variability are the variance and standard deviation (Frank 2002 p. 21). The expected return from a portfolio can be estimated with the following model: (Source: Frank 2002 p. 21) Where, = 1.0; n = the number of securities; = the proportion of the funds invested in security i; = the return on i th security and portfolio p; and = The expectation of the variable in the parentheses (Source: Frank 2002 p. 21) Calculation of Portfolio Risk Risk is the chance that actual return will differ from their expected values. The expected value of return can be obtained from probability estimates for expected

Finance Essay Example | Topics and Well Written Essays - 1250 words - 9

Finance - Essay Example Unlike security bonds that have fixed flow of cash, stock is an equity security that guarantees individual shareholders a proportionate ownership in a business. Some of the corporate values that shareholder gets including right to vote and periodic payments from the investment returns called dividends (Ferraro 2009, pg. 10). Like financial assets, the value of the invested stock will be the discounted value of prospective cash flow in the future. Stock fundamental value is reflective of any dividends and the sale price of the stock in the future (Arnold 2007 p.225). One of the cornerstone elements of stock valuation is the Price-to-Earn-Ratio (P/E) it links stock prices changes to the valuation of stock. In the financial market, P/E dictates the prices of stock and the subsequent effect on overall organization stock value. Besides, this ratio shows how long wills a particular stock take to pay back the investor capital if there is stagnation of the business. For instance, a stock trading at $20 with a return of $2 per individual share has a P/E of 10. Essentially, this means that an investor will get the capital invested back (Arnold 2007, p.225). Arnold (2007 p.225) notes that the stock pricing is a cornerstone in valuation of stock. Entrepreneurs values the stock in terms of their ability to return the money invested. Besides, an important financial ratio is Dividend Yield (DY), this identifies return from the investment. The higher the DY, the higher the value of the stock in the market. The critical determinants of DY are purchasing prices and selling prices of a particular stock. Inconsistent and lower dividends reflect low valued stock and thus, poor stock prices in the stock markets. Valuing a stock uses numerous market indexes such as Nasdaq and OTC methods. In each of them, the fundamental value of stock rests on the existing market prices and future prospects.

Stages In The Decision Process Buyer Essay Example for Free

Stages In The Decision Process Buyer Essay There are two stimuli that can trigger needs, namely: a. Internal stimuli, when one persons normal needs-hunger, thirst, sex-occur at high enough levels. b. External Rangasangan. For example, an advertisement or a discussion with a friend can make you think of buying a new car. At this stage, marketers should research consumers to find what kind of needs or problems that arise, what causes it, and how the problem could steer consumers in this particular product. Look more:  the consumer buying process begins when essay 2 Sources of information Where consumers want to find more information, consumers may simply enlarge or actively searching information. As more and more information is acquired, consumer awareness and knowledge of the brand and the features available to increase. A company must design its marketing mix to make consumers aware of and know the brand. Companies must identify the source of consumer information and importance of each source carefully. 3. Evaluation of alternatives How consumers process information to arrive at brand choices. How do consumers evaluate alternatives depend on the personal consumer and situation specific purchase. In some cases, consumers use careful kalkusai adn logical thinking. At other times, the same consumers do evalusai Ganya little or even not evacuate; instead they buy on impulse and rely on intuition. Kadan-sometimes komsumen make their own purchasing decisions; sometimes they ask for advice from friends purchase, consumers guides, or salespeople. Marketers should study buyers to menmukan in how they actually  evaluate brand choice. If they know what is going evaluasia process, marketers can take steps to influence the buyers decision. 4. purchase decision Consumer purchase decisions is to buy the most preferred brand, but two factors could be between the purchase intention and the purchase decision. The first factor is the attitudes of others. If someone has significance for you to think that you should buy the cheapest car, then the chances of you to buy the most expensive car is reduced. The second factor is unexpected situational factors. Consumers may form a purchase intention based on factors such as income, prices, and the expected benefits of the product. However, unexpected events can change the purchase intention. 5. post-purchase Behavior After purchasing the product, the consumer will be satisfied not satisfied and look in the post-purchase behavior that must be considered by marketers. Which determine the satisfaction or dissatisfaction of the buyer to a purchase lies in the relationship between consumer expectations and product performance assumptions. Why is customer satisfaction so important? customer satisfaction is the key to building a profitable relationship with the consumer-to maintain and grow the customer and collect customer lifetime value.

Are Wars Good for the Economy?

Are Wars Good for the Economy? Mr. PRAKHAR MAHESHWARI Are Wars Good For Economy? INTRODUCTION â€Å"War, n: A time-tested political tactic guaranteed to raise a president’s popularity rating by at least 30 points. It is especially useful during election years and economic downturns.† Chaz Bufe, American Anarchist Author Wars. Invasions. Fights. The reason for these and the final consequence of these is economy. Communities, kingdoms and countries have been fighting countless wars and invading other countries and kingdoms in search for wealth and money. The Mughals and the English came to India having knowledge that the country was full of gold and had massive wealth. Americans declared war on Iraq in search of the precious oil. Even particular individuals fight with their own kin and family for property, wealth and money. But is destruction of life and property the only thing which happens before, after even during a war? This project deals with precisely that. The project focuses on the economic development and/or economic destruction of USA during world wars. However, the project isn’t strictly focused on only US. Countries like Britain, France and Germany needed to be given a special mention in such kind of a topic. Wars make or break a country. And it is an integral question that we must ask ourselves: Are wars really good for economy? ECONOMY AND WORLD WARS There are several reasons to enter a war. Although economic reasons are the most important, patriotism, loyalty and friendship towards a nation and the belief of â€Å"helping the needy and the right out† not only decides if a nation should enter a war but also decides which side that country would join. World War 1 The United States entered the war very late. They were participants for approximately an year and a half – from April 1917 to November 1918.[1] This little participation in terms of days was very different from the point of view of contribution. The number of Americans serving the Army was more than a staggering four million. Not only did they provide men to the fighting nations, they also equipped them with great supply of raw materials and weapons and ammunition.[2] Before the war, the American economy was in a bad shape. However, the buying of U.S. weaponry and goods for war by the fighting Europeans and when the U.S. itself joined the conflict, the economy boomed.[3] Hugh Rockoff writes that if the United States had not converted the opportunity of making and delivering goods and weapons to the European Allies, it would have been next to impossible for the country to enter and win the war.[4] The massive production of such goods, which were added only after looking at the demands made by the European countries, ensured easy entrance of the United States.[5] Also, the goods were made in such a way that the country itself would need it if it enters the war.[6] The Americans had actually realized that the spoils of the war, if they won, would be huge and the profits were not ignorable. Hugh Rockoff also observes that â€Å"Entry into the war in 1917 unleashed massive U.S. federal spending which shifted national production from civilian to war goods. Between 1914 and 1918, some 3 million people were added to the military and half a million to the government.†[7] Infact, the impact of such employment was that the rate of unemployment came down from 7.9 percent to 1.4 percent.[8] This was not only due to the addition of men in the armies but also because labours and workers were required in large numbers to new manufacturing jobs like manufacturing guns, war infrastructure and developing technology.[9] U.S. exports to the European countries, due to this war in 1917, shot up to almost three times the year 1913’s exports. While U.S. exported goods worth $1.5 billion dollars in 1913, the sales were in excess of $4 billion dollars in 1917.[10] Now let us assume that the United States had got nothing to do with the war. It was a neutral country and was not supplying any goods to any European country. Also, let us assume that the raw material used to produce these exports for the European countries were only able to manufacture about half as much value when such goods were transported to other countries which were not at war.[11] Based on these assumptions, if we calculate the value in output in the year 1917, the loss would come out to be a bit more than $2 billion dollars per year.[12] In 1917, this was worth 3.7 percent the U.S GNP and about 6.3 percent of the total U.S. cost of war.[13] Rockoff estimates â€Å"the total cost of World War I to the United States at approximately $32 billion, or 52 percent of gross national product at the time. He breaks down the financing of the U.S. war effort as follows: 22 percent in taxes, 58 percent through borrowings from the public, and 20 percent in money creation. The War Revenue Act of 1917 taxed excess profits profits exceeding an amount determined by the rate of return on capital in a base period by some 20 to 60 percent, and the tax rate on income starting at $50,000 rose from 1.5 percent in 1913-15 to more than 18 percent in 1918. Meanwhile, Treasury Secretary William Gibbs McAdoo crisscrossed the country peddling war bonds, even enlisting the help of Hollywood stars and Boy Scouts. The prevalence of patriotic themes created social pressure to purchase the Liberty bonds (and, after the armistice, the Victory bonds), but in practice the new bondholders did not make a tangible personal sacrifice in buying war bonds, sin ce the yields on these debt instruments were comparable to those on standard municipal bonds at the time. As can be seen, patriotic motives were not sufficient to alter market prices of assets during the war.†[14] Due to this war, various infrastructural projects were taken up and developed like Railroad, fuel and granaries. Since men had to go to war, the women took up the initiative of working in companies, etc. This ensured the economic freedom of women and more and more women started working. It is often said that the one’s gain is another’s loss. Wars are no different. Where one country’s, the United States’, economy was going through a positive transformation, the economies of the European powers were humbled. Even though the Allies won the war, the major participants, the British and the French, suffered massive losses. Saints have said that â€Å"Everything that shines is not gold.† They may have â€Å"won† the war, but economically, they had been fooled by this shine. However, the losses were restricted mainly to the battle fields. Overall, even the British economy (in terms of GDP) grew by around 14-15% during the four to five years of the world war. However, the country lost its men fighting for the country.[15] As discussed earlier, war also involves patriotism and many civilians hence started saving and investing in wars rather than the normal consumption. These investments were used majorly for ammunitions. The Government’s share of Gross Domestic Product (GDP) rose from 8% to 38% in these five years.[16] The story of the Germans, the losers of the war, was however very different. Not only they had to give huge taxes and compensation, there economy was brought to the knees. Germany, just like any other country, had to borrow money from various banks, the axis powers and even its citizens. When the Germans lost, they had to pay back even these creditors. The Germans were left in huge debts and their economy was destroyed. And the main cause of their destruction was the Treaty of Versailles. Supposed to be a peace treaty, many people claim it to be an important reason of the Second World War. This treaty literally forced the Germans to pay huge compensations – a total sum of  £6.6 billion.[17] This amount was way beyond the financial capacities of the Germans. Economy doesn’t only mean the money or financial capacity. It also means the territorial extend of the country. After all, even territories are the properties of a country. After the First World War, Germany had to give up large chunks of its territories to the Allied Forces. â€Å"The Versailles treaty deprived Germany of around 13.5% of its 1914 territory (some seven million people) and all of its overseas possessions. Alsace-Lorraine was returned to France, and Belgium was enlarged in the east with the addition of the formerly German border areas of Eupen and Malmedy. Among other territorial re-arrangements, an area of East Prussia was handed over to Lithuania, and the Sudetenland to Czechoslovakia. The German army was limited to a maximum of 100,000 men, and a ban placed upon the use of heavy artillery, gas, tanks and aircraft. The German navy was similarly restricted to shipping under 10,000 tons, with a ban on submarines.†[18] The other financial and economical clauses of the treaty are dealt with in Article 248 to 312 with certain Annexes. Hence where some countries were enjoying the spoils of war, the other countries had to pay heavy compensations and reparations. World War 2 World War 2 was no different when the reasons for the war are given a thought. The world had seen one of the greatest economic tragedies ever in the form of the Great Depression of 1929, just 6 years before the start of the Second World War. There was chaos on the streets as people lost on jobs and the unemployment rate was on an all time high, crossing the 25% mark. The companies were going bankrupt, economy was in a disaster and depression, as the name phenomenon suggests, was spread across the world. It was evident that another war was on its way. With the rise of Adolf Hitler and economic woes of Germany after accepting the Treaty of Versailles, Germans had to wage wars, once again with the Allied Powers. The U.S., like the previous war, joined this one later, approximately by 2 years. The country, however, like before, started producing and manufacturing wartime goods for the â€Å"worst case scenario†. When the United States got involved in the Second World War, the demand for labor shot up. To fight a war, country needs weapons and for that the country needs manufacturing facilities and labor in huge numbers. The national employment suddenly fell to a minimal 10% in just a few months of the declaration of war by the country from its 1940 level.[19] The country was at war and weapons and infrastructure need to be built up with a rapid speed. Even fortification of borders and military bases abroad was equally important.[20] All these factors coupled with the fact that weapons and military equipments, vehicles and other wartime instruments needed to be transported and mobilized ensured vast labor requirement.[21] The Employers wanted to fill the vacancies as fast as possible so as to meet the production demand. This however, brought in vacancies in other non-war areas. These positions were then filled by women and non white people. They had been excluded from a long time from such industries which payed highly and involved high skills. Hence war meant employment for the whole country.[22] War doesn’t only bring profits. It brings massive destruction to life and property. Britain gave us the Industrial Revolution, and the very same industries, which were the pride of the Great Britain, were left nothing more to rumble. The damage that these facilities incurred, not only in Britain but also in other European countries, was much more than what they had incurred in the previous wars.[23] Where the damages incurred by France were approximately thrice of their total annual income, Britain suffered heavy losses in the form of damages to residential houses.[24] About 30% of the homes in Britain were destroyed by Germans in the Second World War, first by the aerial blitz and then by bombs and rockets.[25] The Germans, losing the war again, had their country divided into West and East Germany. While West was influenced by the capitalist USA, the East was the communist USSR. The economic woes for Britain and France were not limited to their own countries. They had to let go many important colonies as they had exhausted their money and resources and had none left for their militaries in these areas. India gained its independence as the growing revolts and violence in the country left Britain shocked. Britain had no more resources to deal with these violent outbursts and had to leave the country, just like they had to leave many other territories. USSR and US strengthened their economies during cold war, but USSR, after the recession of 1970, could not recover like the US and had to surrender in the cold war. It has been seen by historians that whenever countries have not gone to war or had no threat of being attacked, their economy have not grown or grown but with a very low percentage. But the wars, apart from developing or destroying economies, affect common man too. Inflation and rise in taxes are the two main effects. These are however short term. â€Å"Increasing taxes reduces consumer spending, which does not help the economy improve at all. Suppose we decrease government spending on social programs. Firstly weve lost the benefits those social programs provide. The recipients of those programs will now have less money to spend on other items, so the economy will decline as a whole. Increasing the debt means that well either have to decrease spending or increase taxes in the future; its a way to delay the inevitable. Plus theres all those interest payments in the meantime.†[26] Lack of wars The European countries in the western side of the continent have very little or no threat of being overtaken by another country in the present times. The politicians and ministers are therefore not criticized for not developing the economy faster. Infact, when these ministers lose their office, they are â€Å"garlanded† with income boosts from counseling and consultation as well as speaking fees. If not these, then they retire to an amazing and dreamy holiday spot.[27] This however is not true for the countries that face constant danger from their neighbors or other countries. An example would be that of China and Japan. The Japanese face great pressure, both territorial and geographical from the Chinese.[28] This is true for India and Pakistan. India today is the largest importer of ammunitions as she faces constant and grave danger from its parted neighbors, Pakistan. Hence where countries like India face constant danger from almost all its neighboring countries, they are the highest importers of ammunitions and weapons and countries like Switzerland, which are considered to be one of the most peaceful countries, hardly import any weapons.[29] US spend approximately $650 billion dollars in ammunitions.[30] This is what wars can do. They can make a country develop its resources and infrastructure. CONCLUSION As we can see, wars have the ability to develop an economy. In this project we dealt with three types of outcomes of a war. And each type had its representative. In the first type of outcome, the country wins. They win and enjoy a good deal of compensation. There economy grows by leaps and bounds, the rate of unemployment declines, infrastructure develops and the spoils of war compensate the losses they suffer. An example of this is the United States. While they joined late in the world wars, they had a great say and impact on the war. They had already developed their weapons and ammunitions and had gone to war with preparation. The second type of outcome is one in which although the country wins the war, they are badly hurt as far as economy is concerned. Their industries are destroyed, territories left damaged and even the spoils of war are not enough for their recovery. Britain and France are good examples of these. They â€Å"won† the Second World War but ended up losing m ore than what they won. They exhausted all their resources and their colonies gained independence. The third type of outcome is one in which the country loses; Germany being the example. Germany lost both its wars and had to pay damages which the obviously couldn’t. Infact, they had to ask for loans from the same countries they had to pay the damages. But leaving aside these so called boosters of economy, can any war, battle or fight justify the loss of human life? How can we as humans put a value to a person’s life? Economy may get boosted but for a short while. The damage to life, however, is a very very long one. In conclusion, I would like to say that war, like alcohol, is an addiction. Initially it tastes good, you think that all the worries are now away. But it’s not long before the person indulging himself in such addiction realizes that the pleasure was momentary, what he faces now is scars for life, which no money or economy can remove. [1] Price Fishback, U.S. Economy in World War I (eh.net 2010) http://eh.net/encyclopedia/u-s-economy-in-world-war-i/> accessed 28 June 2014. [2] Price Fishback, U.S. Economy in World War I (eh.net 2010) http://eh.net/encyclopedia/u-s-economy-in-world-war-i/> accessed 28 June 2014. [3] Carlos Lozada, The Economics of World War I (nber.org 2014) http://www.nber.org/digest/jan05/w10580.html> accessed 29 June 2014. [4] Ibid. [5] Ibid. [6] Ibid. [7] Ibid. [8] Ibid. [9] Carlos Lozada, The Economics of World War I (nber.org 2014) http://www.nber.org/digest/jan05/w10580.html> accessed 29 June 2014. [10] Price Fishback, U.S. Economy in World War I (eh.net 2010) http://eh.net/encyclopedia/u-s-economy-in-world-war-i/> accessed 28 June 2014. [11] Ibid. [12] Price Fishback, U.S. Economy in World War I (eh.net 2010) http://eh.net/encyclopedia/u-s-economy-in-world-war-i/> accessed 28 June 2014. [13] Ibid. [14] Carlos Lozada, The Economics of World War I (nber.org 2014) http://www.nber.org/digest/jan05/w10580.html> accessed 29 June 2014. [15] Niall Ferguson, The Pity of War: Explaining World War I (1st, Basic Books, 1988) 249. [16] Ibid. [17] London Jewish Cultural Centre, Economic effects of the Treaty of Versailles (theholocaustexplained.org 2009) http://www.theholocaustexplained.org/ks4/the-nazi-rise-to-power/the-german-economy-c-1919-29/economic-effects-of-the-treaty-of-versailles/> accessed 29 June 2014. [18] Michael Duffy, Treaty of Versailles, 28 June 1919 (firstworldwar.com 2009) http://www.firstworldwar.com/source/versailles.htm> accessed 29 June 2014. [19] David Siminoff and Deb Tennen, World War II: Home Front (shmoop.com 2009) http://www.shmoop.com/wwii-home-front/economy.html> accessed 29 June 2014 [20] Ibid. [21] Ibid. [22] Ibid. [23] Dr. Susmit Kumar, Consequences of World Wars I and II (susmitkumar.net 2010) http://www.susmitkumar.net/index.php?option=com_contentview=articleid=66:consequenses-of-world-wars-i-and-iiItemid=38> accessed 29 June 2014. [24] Ibid. [25] Dr. Susmit Kumar, Consequences of World Wars I and II (susmitkumar.net 2010) http://www.susmitkumar.net/index.php?option=com_contentview=articleid=66:consequenses-of-world-wars-i-and-iiItemid=38> accessed 29 June 2014. [26] Jodi Beggs, Are Wars Good for the Economy? (about.com 2014) http://economics.about.com/cs/issues/l/aa032003c.htm> accessed 29 June 2014. [27] Tyler Cowen, The Lack of Major Wars May Be Hurting Economic Growth (nytimes.com 2014) http://www.nytimes.com/2014/06/14/upshot/the-lack-of-major-wars-may-be-hurting-economic-growth.html?_r=0> accessed 29 June 2014. [28] Ibid. [29] The 15 countries with the highest military expenditure in 2013 (table). Stockholm International Peace Research Institute (2011). [30] Ibid. Georgia OKeeffe | Artist Biography Georgia OKeeffe | Artist Biography Georgia OKeeffe Georgia O’Keeffe is one of many famous American painters. Her paintings of flowers, skulls, horns, and pelvises against a colorful New Mexico background are what made her known to the art world (Zophy 448). There are so many interesting facts about Georgia O’Keeffe, which include her education and teaching, her major works and where they are, the honors she has received, and her charcoal drawings. Georgia and her siblings attended the Number Five District school house. This school was called the Town Hall School. Georgia once stated, â€Å"My memories of childhood are quite pleasant, although I hated school. I left the local school when I was twelve, and was sent to a convent school in Madison, Wisconsin. It was the one year I ever really learned anything,† (Robinson 24). While Georgia attended the Sacred Heart School, she was in the advanced section of her class. â€Å"At the convent in Madison, I don’t even remember wanting to do anything I shouldn’t,† she said (31). In 1902, she was sent to the big public high school in Milwaukee. She didn’t pay much attention to the academics and did not like the art teacher either. In the art room of the high school, she realized that the world through which she walked was a never ending source for her work. Since the age of ten, she knew that painting would be her life long profession (Zophy 448). Georgia first taught at the Chatham Episcopal Institute in Williamsburg, Virginia. The six weeks at Chatham showed Georgia how to continue her art, live in the country and be able to live off her artworks. It showed her a life she might make for herself after all (Robinson, 79). Georgia was offered a teaching position at the University of Virginia. When she wrote to a friend in Texas to get a reference, her friend told her about an opening in Amarillo. She immediately took the position in Amarillo. â€Å"I was very excited about going to Texas, where Billy the Kid had been,† (Robinson, 86). â€Å"Later she went to West Texas State Normal College in the Texas panhandle. Her teaching methods were unofficial. Georgia was head of her own department. She taught the students the methods of design, drawing, costume design, interior decoration, and the teaching of drawing† (Robinson, 159). â€Å"One of Georgia’s many famous paintings is the Jack-In-The-Pulpit series. This series is a powerful celebration of the strong thrust of spring and of the dark secret tower enfolded in green. Due to the natural design of the Jack, the paintings have been viewed as sexual. Georgia did not like her paintings to be put into that category† (Robinson, 354). Another series of Georgia’s paintings is the â€Å"Corn† series. â€Å"She got the inspiration to paint this series while living with Albert, her husband, in the country. She loved working in her garden which is where the vision came to her. The design of the young plants while she was looking down onto them made an exciting and stirring statement to her† (Robinson, 269). The Georgia O’Keeffe Museum opened on July 17, 1997 in Santa Fe, New Mexico and was built for the purpose of preserving and presenting the life work of one of America’s famous artists, this museum now houses a permanent collecton of O’Keeffe’s art (â€Å"Georgia†). O’Keeffe Museum’s Director, Peter H. Hassrick, added, â€Å"O’Keeffe’s life and work are central to the Santa Fe mix. When people visit Santa Fe, they think of Georgia O’Keeffe, and an institution devoted to her artistic accomplishments, located in the region that inspired much of her work, is long overdue.† (â€Å"Georgia†). â€Å"There are more than eighty paintings, watercolors, drawings, pastels, and sculptures in the collection. One of the centerpieces of the collection is â€Å"Jimson Weed†, a large-scale flower painting, one of her favorite flowers, created in 1982. She liked to make more than one version of her paintings† (â€Å"Georgia†). â€Å" The museum’s long-range plans include the building of a study center on the museum grounds providing scholars, students, and the general public with reference materials on the life and art of Georgia O’Keeffe and her fellow artists† (Robinson, 423) â€Å"Another place that Georgia’s paintings can be seen is at the National Gallery of Art. â€Å"Secretary of Treasury, Andrew W. Mellon, first wrote of his interest in creating a national art museum in Washington, D.C. in the year of 1928. Later in 1937, Congress passed legislation to build the National Gallery of Art as an independent agency within the Smithsonian Institution. Four years later, the National Gallery of Art was dedicated by President Roosevelt in the evening of the seventeenth of March which was attended by over 8,000 guests† (â€Å"National†). â€Å"The mission of the National Gallery of Art is to serve the United States of America in a national role by preserving, collecting, exhibiting, and fostering the understanding of works of art, at the highest possible museum and scholarly standard,† (â€Å"Mission†). â€Å"The 291st Gallery in New York was the first gallery to recognize her talent. There were few galleries in New York that showed American art because each artist had their own special style† (â€Å"Younger†). It soon closed shortly after its opening in 1917 (â€Å"Younger†). Georgia had received many great honors throughout her life. Here are some of them: in 1935 she was recognized for excellence in her field by the New York League of Business and Professional Women. â€Å"Later, in May of 1938, she received her first honorary degree, a doctorate of fine arts, from the college of William and Mary, in Williamsburg† (Robinson 423). In 1939, she was chosen as one of the twelve most outstanding women of the past fifty years. â€Å"Her painting, Sunset-Long Island, was picked to represent New York at the World’s Fair† (Ahsby, 432). â€Å"In 1942, she was given a second honorary degree, this one from the University of Wisconsin. In 1946, Georgia received an honor from the Women’s National Press Club, as one of ten women who had reached distinction in their fields† (Ashby, 451). Thirty-one years later, on January 10, 1977, Georgia was given the Medal of Freedom, which is America’s highest civilian award and was awarded to her by president Gerald Ford (â€Å"The Award†). Georgia recieved another award from a President in April of 1985. This one was the National Medal of Arts, given to her by President Ronald Reagan. This is the highest award given to artists and art supporters by the United States Government. â€Å"With this medal, the President recognizes the extent of creative expression of America’s artists. This is a lifetime achievement award.† (â€Å"The Award†) Georgia was given this medal one year before her death (â€Å"National†). â€Å"In 1962, the American Academy of Arts and Letters elected her into membership. That same year she was honored with the Bandeis University Creative Arts Award. In 1966, she became a member of the American Academy of Arts and Sciences† (Robinson 507). â€Å"Georgia O’Keeffe also did many charcoal drawings. Her very first charcoal drawing was titled the â€Å"Special No. 15,† a very early drawing of the Palo Duro Canyon in Texas. It sends a remarkable and significant sense of place. Then eighteen years later in 1934, she drew â€Å"Special No. 40.† She wrote, â€Å"This is from the sea – a shell – and paintings followed. Maybe not as good as this drawing.† Also in this group of Georgia’s drawings is a rare charcoal drawing of her friend, the African American painter Beauford Delaney from the 1940’s. In 1959, she made a charcoal drawing of a riverbed in a desert, which was inspired by sketches she made during one of her first airplane rides† (â€Å"Philidelphia†). â€Å"Another one, â€Å"Banana Flower No. 1,† was chosen by Albert to be shown in his gallery. Because of her high standards when drawing flowers, some people thought there was some hidden meaning in them† (â€Å"American†). â€Å"She also drew â€Å"Maybe a Kiss† in 1916, another of a series, because of a boyfriend who left â€Å"(Robinson 133). In 1934, she drew the â€Å"Eagle Claw and Bean Necklace (Robinson, 406). â€Å"All of Georgia O’Keeffe’s paintings and drawings had a reason to be drawn. The first reason is because she loved nature.† Many times, she said, â€Å"You know how you walk along a country road and notice a little tuft of grass, and the next time you pass that way you stop to see how it is getting along and how much it has grown?† (Robinson 233). Many of Georgia’s visions came from nature, she would tell people this by saying, â€Å"When you take a flower in your hand and really look at it, it’s your world for a moment,† (Robinson, 33). She would walk through the pines and hear â€Å"singing woods,† (Robinson, 118). â€Å"On the prairie she noticed how dried bones and skulls had a beauty of their own. She liked the color, strength, and shapes of these.† (Robinson, 119) â€Å"Another reason for her charcoal drawings is because of her emotions. In the nineteenth century, and in earlier decades of the twentieth century, art critics enjoyed the sentimental and long discussions of the emotional qualities in the paintings they saw: sadness, tenderness, passion, rage – all four were great feelings to be kept in print† (Robinson, 178). â€Å"It seemed she did most of her charcoal drawings when she was sad or lonely† (Ashby, 133). She once told a friend that art was a force that passed through the soul (Robinson, 28). Summing up her life, Georgia moved to Abiquiu, New Mexico permanently after her husband died in 1946. She had visited there many times before and fell in love with the place. She rented a ranch and stayed there six months out of the year (Ashby 204). â€Å"Her style was known as modernism. Some of her most innovative works were in watercolors, pastel, and charcoal† (â€Å"O’Keeffe†). By the year of 1984, she was blind (Robinson 249). â€Å"She spent the rest of her life with a nurse. She died on March 6, 1986 at a hospital in Santa Fe, New Mexico. She was ninety-nine years old. She was cremated and her ashes were scattered into the â€Å"windy landscape† near her house at Ghost Ranch† ( Robinson, 550). This paper has some of the many interesting facts about Georgia O’Keeffe, including: her education and teaching, her major works and where they are, all of the honors she has received, and her charcoal drawings. Georgia O’Keeffe had a ve ry interesting life, this term paper only touched on part of it. Works Cited â€Å"American.† Arkansas Art Center. 2000. 20 Feb 2008. . Ashby, Ruth, and Deborah Gore Ohrn. â€Å"Georgia O’Keeffe.† Herstory: Women Who Changed the World. New York: Penguin Books, 1995: 202-204. â€Å"The Award.† Presidential Medal of Freedom. 2007. 20 Feb 2008. . â€Å"Georgia O’Keeffe Museum.† Traditional Fine Arts Online, Inc. 1997. 22 Feb 2008. . â€Å"Mission Statement.† National Gallery of Art. 2008. 21 Feb 2008. . â€Å"National Gallery of Art.† National Gallery of Art. 2008. 19 Feb 2008. . â€Å"The National Medal of Arts.† National Endowment for the Arts. 22 Feb 2008. . â€Å"O’Keeffe on Paper.† Traditional Fine Arts Online, Inc. 1996-2001. 22 Feb 2008. . Robinson, Roxana. Georgia O’Keeffe: A Life. New York: Harper Row, 1989: 24-550. â€Å"Special.† Philadelphia Museum of Art. 1996-1999. 20 Feb 2008. . â€Å"Younger American Artists.† National Gallery of Art. 2008. 21 Feb 2008. . Zophy, Angela Howard, and Frances M. Kavenik. â€Å"Georgia O’Keeffe.† Handbook of American Women’s History. Library of Congress Cataloging-in-Publication Data, 1990: 448. Bradford Assay: Standard Quantitative Method Determination Bradford Assay: Standard Quantitative Method Determination The Bradford assay is a standard quantitative method for the determination of protein concentrations. Bradford reagent used in the assay contains Coomassie Blue which produces a characteristic blue colour upon binding to proteins in solution (Bradford, Anal. Biochem. 72: 248, 1976).. Using a spectrophotometer the absorbance of the coloured product can be determined. Analysis of multiple samples may involve the use of a microtitre plate so that samples can be replicated and more reliable results obtained. The use of microtitre plates also automates the process so results are produced very quickly. Samples are pipetted into multi-well plates and the absorbance values measured using a multi-well microtitre plate reader equipped with a 595 nm filter. Part 1 Calibration Data for the Bradford Assay A calibration curve for the Bradford assay in the range 0.2- 1.0 mg/ml was obtained using three replicates for each concentration, using a microtitre plate. These data are shown in Figure 1 below. Linear Regression Analysis was performed and the equation of the line of best fit, y=mx +c, was produced (where y represents absorbance, x is the concentration of protein, m is the slope of the line of best fit and c is the intercept of the line on the y-axis). Q1. Describe the relationship between protein concentration and absorbance for the Bradford assay calibration curve. Q2. What is meant by a line of best fit? Q3. Comment on the value of R2 Using the values of the equation of the line of best fit, the absorbance value for each standard was used to calculate the actual concentration of protein in each replicate. The mean, standard deviation and coefficient of variation ((mean/SD)x100%) were calculated and are presented in Table 1 below: Comment on the reproducibility of the assay in the range 0.2 to 1.0mg/ml of protein. Part 2 Investigation of the effects of detergents on the absorbance of a set concentration of protein, using the Bradford Assay. Background You are part of a research team that is looking at the different proteins involved in a cell signalling pathway which leads to the increased synthesis of a specific protein, P. One technique used in this work involves the use of cells kept under tissue culture conditions. These cells are treated with inhibitors, after which they are broken open by solubilisation of their membranes (cell lysis) and the soluble cell contents taken up into solution. Before analysis of the solution for levels of P, the total protein content of each lysate has to be determined. One of the reagents in the buffer solution that can be used to solubilise the cell membranes is a detergent. Detergents can cause interference in a protein assay. In an investigation using the Bradford assay, two detergents at different concentrations were exposed to a set concentration of protein (0.5mg/ml). These are sodium dodecyl sulphate (SDS) and Triton X. The absorbance values were converted into protein concentrations using the equation of the line of best fit from the calibration curve and the data subjected to statistical analysis (One Way ANOVA). Mean data are compared in Tables 2 and 3, and Figures 2 and 3.