Economic Questions Speech or Presentation Example | Topics and Well Written Essays - 2500 words

Economic Questions - Speech or Presentation Example M1 is the narrowest measure of money which includes currency, checking account deposits and travelers checks. The M2 includes the M1 plus other assets that have check-writing features such as small-denomination time deposits, savings deposits and money market accounts, and money market mutual fund shares (noninstitutional). The M3 monetary aggregate is composed of M2 plus large denomination time deposits, term repurchase agreements, term Eurodollars and institutional money market mutual fund shares (Mishkin 57- 59). The Fed consists of 12 regional Federal Reserve banks, around 3000 member commercial banks, the Board of Governors of the Fed, the Federal Open Market Committee, and the Federal Advisory Council. Each of the 12 Federal Reserve banks perform the following: a. clear checks; b. issue new currency; c. withdraw damaged currency from circulation; d. administer and make discount loans to banks in their districts; e. evaluate proposed mergers and applications for banks to expand their activities; f. act as intermediaries between the business community and the Fed; g. examine bank holding companies and state-chartered banks; h. collect data on local business conditions; i. use their staff of professional economist to research topics related to monetary policy (Mishkin 369- 370). Those in favor of an independent Fed argue... This would add inflationary bias to monetary policy leading to an expansionary monetary policy and political business cycles. However, those in favor of less independent Fed want more accountability, transparency and democratic decision- making which affects the entire economy (Mishkin 386-387). DQ 1: Discuss the four players and how they affect the money supply process. First is the central bank, the main government agency which oversees the banking system and is in control of monetary policy. Second are the banks which serve as financial intermediaries as they accept deposits and grant loans. Third are the depositors who hold accounts in banks. The last players are the borrowers from the banks (Mishkin391- 392). DQ 2: Discuss the deficiencies of the simple model of multiple deposit creation. First, the model fails to take into account the behavior of all four players which could affect the money supply, especially the role played by the central bank. Also, it fails to predict the smaller expansion of deposits once depositors decide to hold more currency or when banks decide to hold excess reserves (Mishkin 409-410). DQ 3: Compare and contrast the Keynesian and Monetarist views on the money supply. Both schools of thought see the money supply as an important component of the economy. They just differ on the policy to address the fluctuations resulting from the increasing money supply. Keynesian economists believe that central bank can manipulate the levels of money supply, either by increasing or raising it to prop up the economy. Monetarist believes that the central bank should avoid controlling the money supply since it will lead to further fluctuations.

Role and responsiblity of newly qualified nurse Essay

Role and responsiblity of newly qualified nurse - Essay Example By fulfilling such functions, her transition into actual clinical practice can be eased. The newly qualified nurse has to establish what roles and responsibilities she is expected to play in the actual practice. This paper shall now present a critical discussion on the roles and responsibilities of newly qualified nurses. It shall also critically discuss in detail two of these roles, with one of these roles focusing on patient group directions. Critical discussion on the roles of the newly qualified nurse The newly qualified nurse has the following professional roles: leading in care management and care delivery situations; maintaining standards of care; making ethical and legal decisions; being accountable; working in teams; and teaching others (Burton and Ormrod, n.d, pp. 1-2). The responsibility of taking the lead in care management and care delivery situations involves goal setting and self regulation (NHS, n.d). In effect, it also involves the process of group learning and probl em solving, as well as taking a more active role in applying appropriate and vigilant nursing care skills (O’Connor, 2002, p. 69). The newly qualified nurses’ role is also to maintain standards of care. ... The legal standards of care are based on the standards as set by the Nurse Practice Act which governs each state; it is also governed by the Nursing Scope and Standards of Practice published by the American Nurses Association (Smith, 2009). The newly qualified nurses’ role is to follow these provisions and to ensure that other nurses also follow said standards. The newly qualified nurses must also base their ethical decisions on the principles of autonomy, beneficence, non-maleficence, and justice (Robertson, 1996, p. 292). The nurse must respect the patient’s right to autonomy and self determination in terms of making his decisions about his care (Silverman, et.al., 1995, p. 502). She must also implement such decisions based on what would best benefit the patient in terms of health care services (Melia, 1994, p. 7). The principle of non-maleficence also calls for the nursing decisions to not be harmful to the patient – to bring him ‘no harm’ (Black, 2002, p. 423). Finally, the principle of justice – that of giving the patient his due – must also be observed by the newly qualified nurse in order to help ensure that the patient would be receiving what he is entitled in terms of services and nursing care (Bishop and Scudder, 2001, p. 24). The newly qualified nurses’ role is also to be accountable for her actions or inaction. As soon as she takes oath and she practices her profession, the newly qualified nurse is as accountable for her actions as other nurses and health professionals (Smith, 2009). This accountability stems from the expected legal and ethical actions which she is supposed to carry out during her practice. Her accountability is also personal, in effect, she must be capable of making her decisions after