Reading assignment Essay Example for Free

Reading assignment Essay The common house mouse, Mus musculus, is a model organism for human diseases. As such, it has been recently utilized in QTL mapping to see which genes may contribute disproportionately to disease states. Unfortunately, because of its high rate of inbreeding and bottleneck effect when it was first developed as a model organism, it displays a high level of linkage disequilibrium such that QTLs can span 20-40 cM, containing hundreds of genes. This is a problem on two levels: One, while this resolution is great relative to the â€Å"double crossovers† of Morgan’s flies, it leaves much to be desired in terms of quickly discovering traits that contribute to disease states. Two, using inbred lines such as mouse decreases verisimilitude—we’re trying to see how diseases work in humans, we should use animals with same genetic variance as humans. This is especially relevant because mice colonized the world with humans, and as such may show similar patterns of gene evolution and population structure. These authors found that QTL maps can be made to the resolution of 1 cM (about 100 kB in M. musculus) by using the wild conspecifics of these lab mice. In doing so, they also found that wild mice have much lower rates of LD, comparable to humans. They do show a lot of homozygosity, which the authors attribute to some inbreeding and previous bottlenecks. The authors suggest that using wild mice to develop finer mapping resolution for QTLs, especially because they can use the same SNPs that they use for laboratory mice. That is to say, we can use the same tools available to us in lab mice on wild mice for experiments more relevant to populations of humans, as opposed to individuals. Questions: 1) Wild mice have a lot of homozygosity. Would wild mouse populations (new world field mice, etc. ) show less homozygosity, and can we use them in these experiments when homozygosity somehow impedes the resolution of the mapping? 2) The text keeps saying that African populations are in a state of high linkage disequilibrium, and I’m assuming it is because they are in reproductive isolation. If mice are commensal with Africans as they are with other human populations, do they exhibit the same LD? Can we then use them as a model to look at disease states and disease traits in Africans?

Analysis of Creative and Innovation Management

Analysis of Creative and Innovation Management According to Tidd, Joe and Bessant, John, innovation management is defined as the discipline of managing processes in innovation. It is essentially a process within an organization that embarks on new models and ideas that deploy the creative juices of the work force towards a common understanding of goals and processes. (more in Appendix A) Why is it important? The importance of innovation is ever so increasing. In this day and age, innovativeness has come to become a force in wealth creation and business success. It leads to new business ideas and technological revolutions. According to management expert, Peter Drunker, he stressed the survival aspect that an established organization would need to innovate or face the consequences of extinction. In line with this point, many organizations today are upping their efforts measures to strengthen their ability to innovate. Innovation, besides the products and services, also includes the new processes, new supply chain systems, new marketing methods and new leadership/management styles, which would ultimately have a significant impact on productivity and growth. Today, more than ever before, the importance of innovation cannot be overlooked. With the impact of globalization, coupled with technological and knowledge revolutions, organizations and businesses will be have to constantly adapt to the ever changing business climate. Innovation will help add value and propel organizations forward towards overall improvement. This report extends research into Heathrow Terminal 5 (T5), College of Central London (CCL) and the Gilt Groupe. Heathrow Terminal 5 The Heathrow Terminal 5 (T5) project was a megaproject launch in the United Kingdom to increase the current capacity of 67 million passengers a year to 95 million passengers a year. It was a  £4.6 billion project that was large, complex and expensive. In its initiation phase, the BAA, the owners of Heathrow Airport and Laing ORourke push forth with a novel approach to extend the scope of existing research to build on the new project capabilities. The end result: it meets expectations and it is on schedule, within budget and has a high safety record. This represents a major breakthrough in project management practices of the UK construction industry. The T5 utilized state-of-the-art systems and technologies that would indefinitely make T5 one of the most modern and efficient major airport terminal in the world. It incorporated several innovative methods gathered from other industries which included Lean techniques in areas within the IT and infrastructure. For example, the BAA created incentives for contractors to work together, introduced digital tools to facilitate the collaboration between designers, engineers and project managers. It also took advantage of the revolutionary single design visualization system which in effect replaced numerous proprietary in-house IT systems with standard software linking into the logistics systems. Today, the T5 is running beyond expected levels of efficiency in all areas of customer service, and it regarded as an exception achievement. Gilt Groupe Gilt Groupe is an e-commerce retailer based in the United States. Established in 2007, its business model centers in the provision of invitation-only access to highly coveted products and experiences at insider prices. It stages online flash sales that offer its members luxury merchandise, including apparel, accessories and lifestyle items, at a bargain price for a limited period of time. For example, it will inform its members of the launch of a sale beginning noon which typically lasts for 36 hours, with bargains on luxury merchandise at up to 60% off. The Gilt Groupe is the brainchild of Alexis Maybank, a former eBay founding member, and Alexandre Wilson, a merchandising executive at Louis Vuitton and Bulgari. Long time friends, it was not until 2007 that these entrepreneurs brought their complementary strengths, interest and areas of expertise to create something innovative together. With plenty of momentum going forward, the Gilt Groupes innovative business model has attracted a total of $48million to date, and its considering a public offering in 2012. 1.2 Leading and Embracing Innovation and Change As the world economy progresses forward, evolution in organizational design continues to take on new configurations. Organizations today are eager to jump on major opportunities and embrace innovation as changes unfold. We are seeing the proliferation of good ideas that could potential become successful innovations. However, more often than not, there exist strategic barriers and bottlenecks to obstruct the implementation process of valuable innovations. Thus, organizations are willing to invest to enlist the right people and ensure the optimal use of their knowledge and experience. In leading the case for innovation, there are several approaches to embracing creativity and innovation. Anchor Innovation in Strategy According to the Boston Consulting Group (BCG) and McKingsey Co, their joint-surveys have indicated that innovation is in fact one of the top three strategic corporate priorities. Looking at some of the pioneer of visionary companies, they found a common trait whereby innovation is imbued in the organizations strategy, from top to bottom, and from the delivery to its execution. It maintains center stage in Board agenda, and is regularly discussed in meeting on equal footing with sales, finance, marketing and operations. Similarly, these forward thinking companies strive to shed visibility on innovation by their implementation of new technologies to achieve marked improvements in the facilitation, management and measurement process from idea generation to its final implementation. Build an innovation culture on participation Another novel approach would be to infuse innovation within the companys corporate culture that encourages participation. In this setting, individuals are most highly incentivized by the power to make autonomous decisions and respect knowledge and a willingness of cooperation towards a joint goal of future value creation. The organizational culture should foster a comfort in employees to freely articulate challenges and express their ideas, regardless of the feasibility. Leaders should encourage the participation and allocate time and resources on innovation through developing a system of recognition that fosters and rewards all kinds of constructive behavior that would enrich and shape the culture of innovation. Make innovation a well-managed process Despite innovation clearly being one of the top three strategic corporate priorities, few if not any would actually manage innovation as a process. Whats most important here is to set in motion initiatives to garner ideas from within the organization. This could be as simple as gathering one idea per employee, and handling these suggestions to explore areas of improvement within the business processes. This will enable an organization to advance the entire innovation process, from idea capture, enrichment and evaluation through to decision-making and implementation. Presentation on The Importance of Creative and Innovative Management Task2 2.1 Influence of Vision and Mission In any leadership position, people count on the leader to set the direction and provide a bearing for the future. In broad terms, this is usually expressed and articulated in the vision or mission statement to serve as a guiding post for the organization. It sets the stage for the strategic planning and objectives, and illustrates a vision that is desirable, challenging and believable. To address the creative and innovative management processes of an organization, I will extend research into a third organization, which is a small-medium size enterprise (SME), The Dance Studio. The Dance Studio The Dance Studio is a leading retailer in Singapore, offering a myriad of latest collection dance apparel and shoe wear. Established in 2009, The Dance Studio was founded by Sally Teo to fill in the gap in providing an affordable option for all dance enthusiasts. A passionate dancer for several years, she noticed a lack of quality in affordable Latin and Ballroom competition gowns in the marketplace. Her vision was to create a niche store that understand the needs of dancers and allow them to shine on the dance floor. Since its initial launch two years ago, the retailer has embraced innovation and expanded into providing dancing shoe-wear and customized costume outfits. It also took advantage of the internet and launched an e-commerce website to expand its geographical reach to its customers. The Dance Studio has come a way in establishing their presence and constantly reiterate its vision through its support in dance events in the community. Thus far, they has sponsored two major events: (i) The Lush event at the Zouk Club, in conjunction with Imperial College London UK Boudn Event, (ii) The National University of Singapore (NUS) Social and Ballroom Club Dinner and Dance event. The Dance Studio today follows a relatively lean organizational structure, where employees hold multiple responsibilities in their contribution to the firms success. 2.2 Analytical tools to identify potential innovative ideas Leaders should inspire employees to search for innovative ways of doing things. This refers to lateral thinking, which is defined as a set of techniques and approaches to look for radically new ways to approach the problems. In the case for the Dance Studio, we could identify that the use of lateral thinking in their focus of bringing their vision to fruition. They have achieved organic growth by the expansion into dance shoe-wear and customized professional dancing costumes market. In the application of analytical tools available on the Dance Studio, it can be illustrated in the four quadrant diagram SWOT analysis in the following: Strengths: Niche market Very focused approach Lean corporate structure Flexible organization culture; ease of implementing change and ideas High profit margin business Weakness: Lack of economies of scale Vulnerable to currency fluctuations; since goods are sourced from the United States and China Opportunities: New markets to explore and expand towards Expand its geographical reach by opening retail stores in other countries Development of their brand as a niche provider to the professional dancing scene Threats: Low barriers of entry; easy penetration into this markets by competitors Business model is easily imitated. Large retailer with economies of scale could easily gain market share. Additional section on PESTLE analysis is included in the appendix 2.3 Assessment of risk and benefits of creative and innovative management ideas Risk management techniques could be applied in this case in the provision of creative and innovative management ideas. According to the ISO, it is defined as the identification, assessment and prioritization of risk as followed by the application of resources to minimize, monitor and control the probability and/or impact of unfortunate events. In any organization, it is vital to have risk measurement in place to deal with the creative and innovative management ideas. An approach will be to impose a structured platform to guide the innovation process by including mandatory steps such as organization of ideas, researching of patents, exploration of new markets and competition and evaluating the overall risks to ensure the most lucrative ideas are undertaken. This will enable the organization to have enhanced risk management capabilities and safe measures in place designed to make innovation a process that is sustainable and repeatable. In this aspect of pursuing these ideas, it is important to analyze all risks in this process as the higher the degree of innovation will mean the higher level of uncertainty. The sub-factors of risks can be concluding in the table: Factor of risk Sub-factor of risk Technological risk This risk arises from the feasibility in technical terms, the rate of advancement of technology, uncertainty of middle test and production. This could refer to high difficult in RD, insufficient anticipation of key techniques, methodology, etc. This type of risk will be more evident in technological innovation. Market risk This risk arises from the uncertainty of the market size and the industry. This includes the general economy, customers demand, competitive advantage in products, and lifespan of new products. This component is usually broken down to three aspects: Market demand risk difficult to access the market size and capacity prior. Market competition risk new entrants usually face severe competition as similar products or providers could already exist in the market. Market risk of entering the market difficult to decide on the ideal time to introduce products, timing here plays a critical role. Organizing risk This risk arises from the organization activity of running the company. It includes all functions within the organization structure such as: Decision-making risk leaders making wrong decision should they lack foresight and long-term view. Capability risk lack of capability and expertise in the product development process would hinder the creative and innovative management ideas. Human resource risk the diathesis and availability of employees, the retention of good people. Financial risk the available of capital and the management of finance. Information management risk lack of sufficient information of market demand could lead to innovation failure. External environment risk This risk arises from the macro political, economic, social and technological environment that could potentially cause external environmental risk. It includes a very broad view and awareness of the external environment, from the stability of national political situation to the changes of the economic cycle and the social and cultural factors that was identified in the PESTLE analysis. The 4 major components here are: Political and legal environment risk, Economic environment risk Social and culture environmental risk Technological environment risk To conclude, the innovation process with its main risks should be analyzed in detail. It is crucial for an organization to pay attention to the possible relation among different risks and access the full extent of uncertainty. 2.4 Using Change models In order to support the implementation of creative and innovative management ideas, models of change management could be applied as it simplifies a process to allow the follow through implementation success of these ideas. These models were created to cope with the unpredictability of implementing change. In reality, there is no right or wrong. It is the way to go about implementing change that would differ depending on the model utilized. The IDEAL model, for example, is an organizational improvement model that serves as a roadmap for initiating, planning, and implementing improvement actions. IDEAL refers to: initiating, diagnosing, establishing, acting, and learning. The IDEAL model essentially provides a structure to allow organizations in the planning and implementation process. It allows firms to effectively integrate the creative and innovative management ideas with the organizations strategy to establish a successful improvement programme. It comprises of a five phases that has proven beneficial in many improvement efforts through establishing a foundation for long-term improvement strategy. The five phases of IDEAL: I Initiating Laying the groundwork for a successful improvement effort. D Diagnosing Determine current position and set a target for future position. E Establishing Planning the necessary steps to reach the target destination. A Acting Follow the schedule according to the plan. L Learning Learn from experience and improve on your ability to adopt new technologies in the future.

Pride And Prejudice :: essays research papers

Jane Austen’s Pride and Prejudice takes place in England during the 18th century, with an evident main them of courtship and marriage. The Bennet family consists of Jane, the eldest daughter, followed by Elizabeth, Mary, Kitty, and Lydia. Being girls, they will not benefit from their father’s will which leads to their mother’s obsession over finding husbands for them. Eventually in the end of the novel, everyone is settled and married, however Bingley and Jane, and Darcy and Elizabeth have comfortable futures to look forward to. Similar to other novels written by Jane Austen, the main theme is courtship and marriage. On a smaller scale, this novel also refers to the reality behind appearances and "truth universally acknowledged, that a single man in possession of a good fortune, must be in want of a wife.† (p.1) Out of the seven marriages throughout the novel, three would inevitably end in failure and two are a success. With Mr. Collins and Charlotte Lucas, their marriage is based on economics. Charlotte sacrifices her own happiness for financial security. In the case of Whickham and Lydia, only superficial qualities are considered which in time would separate them. Another example of a marriage like Whickam and Lydia’s is the marriage between Mr. and Mrs. Bennet. As for Jane and the Elizabeth, their marriages are based on calm judgement and are well considered with mutual feelings. Throughout the novel, many of the characters are deceived by appearances, although they become dearer near th e end. In this time frame, women view that men have responsibilities to society. Being unable to provide for themselves because of their ignorance in areas of business or commerce, men would ensure financial stability. Another aspect of Jane Austen’s writing is her use of dialogue. It reflects when less of the physical appearances were used, but more of the inner qualities were displayed, during her time period. Austen is interested in where people stand in society and their engagements in dialogue. Often, through dialogue, her characters are developed. With Austen’s main focus being conversation, much of her work must be able to relate parts of the novel together, interpret clues, and notice tone and meaning. I believe that the main characters of this novel are Darcy and Elizabeth. Referring to the title â€Å"pride† would represent Darcy and â€Å"prejudice† would represent Elizabeth. Elizabeth’s â€Å"propensity to hate everybody† (p.51) and vanity leads to her prejudice.

Descartes :: essays research papers

Foundation   Ã‚  Ã‚  Ã‚  Ã‚  In Descartes Meditation VI Of the existence of material things, and of the real distinction between the real soul and body of man, he explains he reasoning for believing that the mind is better known than any body. Descartes states his reasoning through various assumptions that he has made in his search for knowledge. Descartes is a philosopher, who through thinking comes to these conclusions.   Ã‚  Ã‚  Ã‚  Ã‚  In the reading of Descartes he interprets his understanding of how and why the mind is better known than the body. He states that, â€Å"Myself in my entirety in as much as I am formed of body and soul (mind) taught by nature, sun, stars, and sky. Descartes realized that he could learn things from his body. Things like pain if he touches a flame or pleasure if he drinks a cup of wine. With senses Descartes could see textures and beautiful landscapes. This made Descartes realize that from this generalization that he has made, what he learns from his body does not exceed what he already knows in his mind. I think Descartes point is well made in his quote above. I come to understand this though, through the fact that the minds common sense is what tells me I should not touch a flame, because of the pain it will bring me.   Ã‚  Ã‚  Ã‚  Ã‚  Through Descartes studies of himself, he also came to the conclusion that, â€Å"†¦Mind alone, not mind and body in conjunction, is a requisite to a knowledge of the truth in regard to such things.†(376) He explains this premise with the analogy, â€Å"†¦Although stars make no larger an impression on my eye than the flame of a little candle there is yet in me no real or positive propensity impelling me to believe that it is not greater than the flame; but I have judged it to be from my earliest years, without any rational foundation.† This analogy interprets that, just because there is no direct effect upon his the body or physical senses it does not mean that nothing exists. The mind is more important to think and realize the possibilities even though his body cannot sense them. So even though the flame looks the same size as the star his mind know it in fact is not. I can only understand so much of this statement by Descartes. I understan d that that his mind can differentiate the star from the star, but this is not preconceived knowledge given to him at birth.

History of Home Schooling Essay -- essays papers

History of Home Schooling Before public schools emerged, children were educated in the home by their parents. They were taught arithmetic, practical skills, and to read and write. Some wealthy families preferred hiring a tutor for their children (Koetzsch, 1997). In the 1840s, prominent leaders such as Horace Mann lead a movement to institute public schools in the United States (Thattai, 2001). These reformers argued that public schools would create good citizens, unite society, and prevent crime and poverty. As a result of their efforts, public elementary schools evolved in American society by the end of the 19th century. Massachusetts was the first state to pass a compulsory attendance law, ruling that all children had to attend at least elementary school (Thattai, 2001). By 1918, all states had the compulsory attendance law. Catholics weren’t happy with the public education system, so they instituted private schools (Thattai, 2001). When public institutions emerged, home schooling nearly vanished in the United States (Koetzsch, 1997). Education critics began voicing concerns about public schools in the 1960’s (Hess, 2002). Some of the complaints against public schools included, preaching alien values, failing to adequately educate, and adopting unhealthy approaches to child development (Hess, 2002). Many parents joined the de- schooling movement based on a popular book by John Holt called How Children Learn. John Holt was a professor in Boston, who believed that children are born with the desire to learn and educate themselves. The book states that all children need the following for a successful education; materials, access to the â€Å"real world†, emotional support, freedom to explore, and time to assess idea... ...ws of home schooling in the state of Maryland. The article included a summary of the Maryland education code. Home school facts. (2005). Home Education Magazine, 25. Home Education Magazine is a popular magazine among home school parents and children. It explores all aspects of home schooling. The article that I used for my research paper did not specify and author. Number of home schooled students rises. (2004, August 4). The New York Times, A14. This newspaper article describes the increase of home schooling in the United States through a recent survey. The article does not specify an author. Interview with Brigitte Mankiewicz, home school parent. March 21, 2005. I interviewed Brigitte Mankiewicz about what it is like to be a home school parent. She answered questions regarding the positive and negative aspect of home schooling.

Kids should be monitored on the internet Essay

The internet is known for many miraculous advances in today’s technology. We have an unlimited quantity of knowledge on this so-called information super highway. Plus we can purchase merchandise, and talk to friends and family from around the world without leaving the comfort of our own homes. Seems great right? Sure, but if it’s placed in the wrong hands all of this can be spoiled. Particularly when a child is sitting behind the computer screen. This is why I believe children should be monitored while being on the World Wide Web. There are numerous dangers out there that both parents and children should be aware of. First, there is the subject of the â€Å"new and improved† way of shopping, on-line. If a child wonders onto a website of this sort then the child may be able to by something that cannot be afforded, or something the child is prohibited to own, but this is only the beginning of the problems your youngster will encounter if he or she is unsupervised or uneducated about on-line purchasing sites. They might reveal important information such as name, address, credit card, number etc., and if a website is not secure (make sure the website as a privacy policy of some sort) then a hacker -someone who illegally gains access to and sometimes tampers with information in a computer system- may use your personal data for things such as identity theft, and they might even want to learn the whereabouts of you and your little one. It ordinarily doesn’t get this extreme, but you should never take any chances when dealing with something this serious. This leads me to my most important issue. Pedophiles and pornographers on-line. This is an utmost danger for kids on the internet. Kids can find themselves on a pornographic website unintentionally while just surfing the web. For instance if they type the wrong characters into the address bar (Examples: typing .com instead of .org) you may be asking yourself â€Å"Why is this allowed to happen, shouldn’t there be guidelines?† Well in 1996 congress passed a provision known as the Communications Decency Act, (CDA) which was designed to protect children from indecent material on-line. In 1997 the Supreme Court ruled the CDA unconstitutional. It was said to be  against the first amendment, freedom of speech. Lastly, we are on the most critical of things. On-line pedophiles or â€Å"Internet Predators† These are people who prey on children and persuade them to do things that the predator desires. Usually without the child knowing or realizing what is happening is wrong. Predators try and find children on-line such as websites, chat rooms and even e-mail. Usually the predator will try and make friends with the unsuspecting child often pretending to like the same things or even to be the same age as the child. After corresponding with the child for a while the predator will usually want to talk on the phone or meet in person. This could lead to unspeakable situations where the child may be sexually assaulted or even killed. In a study done in 2000, it was discovered that nearly one in five youths had received an unwanted sexual solicitation or approach. It is extremely saddening to hear about these dreadful crimes. Although it is chilling to hear about these crimes, there are ways to protect yourself and your young-ones from the dark places on the internet. First, parents must educate themselves about cyberspace. Most parents don’t even know what a chat room or a screen name is. Another way to keep internet safe is to have your computer in a public place in your home such as the living room or kitchen area. You may be saying to your self that you can’t watch your child all day, but in cases like this you can always get some kind of software that allows you to block certain web pages and even sites with key words (example: drugs, sex, violence) Never forget though not to be too over protective, because if something does happen your kids might be afraid to mention it, in fear that you will be angry with them. In case of an emergency or you just have a question about online safety call the CyberTipline (1-800-843-5678)

Micro Econ

Describe the efficient market hypothesis and give a piece of evidence consistent with this theory. Markets operate efficiently when resources are fully employed and output is produced at lowest possible costs at quantities that correspond to rational consumer behavior. Market efficiency involves both productive and allocative efficiency.Productive efficiency is concerned with quantity of goods and services produced. It is achieved when it is impossible to increase output of one type of product without reducing the output of another product i.e. all resources are fully employed and the economy is operating on its production possibility curve. Allocative efficiency is achieved when the resources are allocated in the right proportions to produce different goods and services to give a product mix that reflects consumers’ preferences. (Grant, 2003)The term ‘efficient’ as used by economists simply means, ‘If price and quantity take anything other than their equili brium values, a transaction that will make at least some people better off without harming others can always be found.’(Frank and Bernanke, 2001)   This is known as Pareto efficiency, named after the Italian economist, Vilfredo Pareto. It is a state whereby there is no way of making one party in a market better off without making the other party worse off. It is achieved when productive and allocative efficiency interacts.An efficient transaction creates an economic surplus. If a product sells below the market equilibrium price, it is not efficient.2. The cleaning service firm Clean All plc increased its workers wages by 4% and it experienced an increase in its profits. How can this have happened?Increasing wages boosts workers’ productivity. Workers are also tempted to work for longer hours which also increase productivity. This results in higher profits and labor turnover is also significantly lowered. Even though wages are higher, the firm may not have significant ly higher labor costs per unit of output.An employer’s reservation price for a worker is the most the employer could pay without suffering a decline in profit. In a perfectly competitive labor market, this price is the value of worker’s marginal product (VMP).A worker’s marginal product is the extra output the firm gets as a result of hiring that worker. Value marginal product is the net contribution the worker makes to the employer’s revenue i.e. result of multiplying the worker’s marginal product by the net price for which each unit of product sells.By reason of the law of diminishing returns, we know that the marginal product of labor, hence VMP, declines in the short run as the quantity of labor rises.The individual employer’s demand curve for labor, in this case Clean All plc may be shown as downward sloping function of wage rate. The supply curve of labor for any particular occupation is upward sloping.3) Does on increase in saving lea d to a higher standard of living? Why? Might a politician prefer not to try to introduce resources increase at the rate of saving?Yes, savings lead to higher standard of living. Savings are that part of current income that is not spent on current needs .Higher rates of saving today leads to faster accumulation of wealth and the wealthier an economic unit is (e.g. household or nation) the higher its standard of living in the future.Savings are mostly employed in financial investments e.g. government bonds or shares of stock in a corporation. These pay returns in form of interest payments, dividends or capital gains High returns are desirable of course   because the higher the return the faster ones savings grow.The rate of return most relevant is savings decision is the real interest rate i.e. the rate at which the real purchasing power of a financial asset increases over time .it is the market nominal interest rate minus the inflation rate. The real interest rate is relevant to sa vers because it is reward for savings. Empirical evidence suggests that higher real interest rates lead to increases in savings (Frank and Benanke, 2001).Politicians tend to benefit e.g. by gaining political mileage when the economy is favorable, thus they tend to exert a strong bias toward expansionary policy. What prevents politicians from implementing the expansionary policies is inflation at least to fear of generating on acceleration inflation. Inflation is a continuous rise in price level measured with price indexes. If money supply rises the price level will also rise. Inflation does not promote a favorable political environment.ReferencesBernanke, B. and Frank, R. (2001): Principles of Economics .New York: McGraw-HillColander, D.C (2001): Economics, New York: McGraw Hill Companies.Eaton, B., Diane F. and Douglas W. (2002): Microeconomics.5th Edition: New York,Prentice HallMankiw, N. (2000): Principles of Microeconomics. London, South-Western PubPrentice Ha Grant, S. J. (2003 ): Stan Lake’s Introduction Economics, 7th Edition. Harlow:Pearson’s Education ltdRuffin, R. and Paul R. (2000): Principles of Microeconomics. New York, AddisonWesley