The State of Working America Assignment Example | Topics and Well Written Essays - 1500 words

The State of Working America - Assignment Example Tax rates were also drastically cut for all income sectors. The national debt was cut by one third, as quoted by one economic historian, â€Å"Despite the severity of the contraction, the Fed did not move to use its powers to turn the money supplies around and fight the contraction.† Therefore, by the summer of 1921 visible signs of recovery began to show. Unemployment was back to 6.7 percent and down to 2.4 percent by 1923. (Mataconis, 2009). According to Slichter high wage practices were adopted in the 1920s due to the threat of labor trouble, employers being unwilling to reduce wages in comparison to wholesale pricing, and realizing how important moral and efficiency had become to labor. (Slichter, 2005). Labor trouble threats began to peak in 1920, and the six-years prior saw a double of membership in trade unions. Unionism had established itself in the Chicago Packing Plants, the US Steel Corporation and the Pennsylvania Railroad as well. Employers seemed to have the beli ef that labor was in danger of becoming radical. (Slitter, 2005). New methods were used in industry to attempt to make workers more efficient and contented. 1. Helping employees acquire property, 2. Helping employees acquire a â€Å"stake† in the companies which employed them. 3. Protecting them from arbitrary treatment. 4. Rewarding continuous service with the company. 5. Giving them advancement opportunities and more responsibility. 6. Offering them security. These things resulted in a rise of around 11 percent in hourly wages for factory workers between 1920 and 1925. Thus, wage earners began to save money, which was encouraged by businessmen. (Slichter, 2005). The 1920s known as the â€Å"roaring twenties† gained its name from being pictured as a time of American prosperity and optimism. However, it is also seen as a time of cultural change, a decade of the Model T, $5 work days, airplanes, movies, and provocative dress. The nation shifted from urbanism to commerci alism and brought with its prohibition, the Ku Klux Klan, strict immigration laws, and gangsters. Quoted by Jerrie Cheek from the Kennesaw University, â€Å"The powerful economy might of America from 1920 to October 1929 is frequently overlooked†¦the strength of America was generated and driven by its vast economic power.† (Cheek, 2005). The happening on October 1929 on a Tuesday, know as â€Å"black Tuesday† became the beginning of the Great Depression. Two months after the stock market crash stockholders had lost more than $40 billion dollars in investments. Economists and historians both believe that the economic downturn that showed up in early 1929 lead to the crash. The market did improve somewhat by the end of 1930; however, it was not enough to keep America from entering the Great Depression. (Kelley, 2012). By 1933 11,000 of America’s 25,000 banks had failed, and because deposits were uninsured, funds were simply lost. Banks, being unsure of the ec onomy, stopped issuing new loans, which contributed to the situation. (The Great Depression, 2012).  

Revaluation of Yuan Essay Example | Topics and Well Written Essays - 750 words

Revaluation of Yuan - Essay Example Although this devaluation will help the exports of the foreign countries to grow, it will hurt the domestic growth perspectives of China, including preservation of domestic growth and stability, and also the stability of political power. Unlike other countries, the communist political party of the country has maintained an equal distribution of goods and services and income among the poorest section of the country, being consistent with the high rate of economic growth. The author has opined that a sudden devaluation of Yuan will hurt the employment structure of the formal as well as the informal sector of the country. This reduction in employment will occur through shifting of â€Å"low-wage manufacturing to countries such as Vietnam and Sri Lanka†. This will cause the domestic rate of growth of income to reduce and thus the level of domestic protests and the degree of political instability will be accelerated in the country. However, as the country is willing to maintain its 8% annual rate of economic growth, with low rates of annual inflation of about 3%, the national propaganda of the country’s communist party is to stick to its current exchange rate determination process. Hence, the foreign countries and business organizations are expecting a much appreciated value of Yuan in the future; however, the future expectations of the economic and trade related effects on the Chinese and the global economy are required to be evaluated before proceeding with the revaluation policy (Lamont). The writer has wrongly revealed the point of view of the communist government of the country regarding the decrease in the amount of employment in the formal sector of the country. The devaluation of the Chinese currency in terms of other currencies will reduce the level of employment in the formal sector of the country and will increase the level of unemployment in the country as large section of the country’s industrial sector is dependent upon the indigen ous technologies. If the country is made open with significant reduction in the value of the Yuan, then it is most likely that the business leaders of the global enterprises will start investing in the industrial sector of the country. This will induce significant level of foreign technologies across the country that will increase the level of unemployment consisting of those laborers who are unable to work with those foreign technologies. However, the notion that the devaluation will reduce the level of employment and will hurt the growth process of the country is not entirely true. This is due to the fact that currency devaluation will increase the level of country’s exports of different goods and services. This will also induce the indigenous products and services to reach the global market and thus the level of production of these goods and services will rise up. This will essentially increase the level of income in these indigenous industries and thus the level of invest ments in technological development will be raised. Hence, not only the future level of income will rise up, this will lead to greater level of development of various indigenous technologies (with the help of significant integration of indigenous technologies with global technologies). Hence, the level of future growth rate of income will also rise up in the country and this will be sustainable as well. Greater amounts of exports will also help the informal

The Role of Human Activities in Causing Climate Change Essay Example for Free

The Role of Human Activities in Causing Climate Change Essay To begin with, climate change is a tangible problem and its existence can no longer be denied. It would be self-deception to believe that humans had nothing to do with it. Human activities along with natural influences continuously alter the climate of the Earth. However, the fact that near-surface temperature has rapidly increased on the global scale in the past few decades can hardly be accounted for by natural processes. In reality global warming is to a great extent caused by human activity, which has been proven by extensive scientific research (UN Environment Program). By burning coal, natural gas and oil, introducing harmful agricultural practices and destroying forests people make a significant negative impact on the state of the atmosphere, altering its composition irreparably. Reckless and irrational human activities caused the increase in the concentration of the so-called greenhouse gases, such as methane, carbon dioxide, ozone, chlorofluorocarbons and nitrous oxide, in the atmosphere (AGU Statement). Nowadays, the humanity fully depends on the energy provided by fossil fuels, such as oil, natural gas and coal. This energy feeds the industries, the transportation, generates electricity. However, obsequious use of fossil fuel leads to substantial emission of carbon dioxide into the atmosphere. Agricultural needs condition changes in the landscape, deforestation, which in its turn leads to more carbon dioxide being emitted, as dead vegetation is never replaced by new growth that would counteract the emission. Currently deforestation is mostly characteristic of the tropical regions whereas re-growth in the northern hemisphere decreases the amount of carbon dioxide in the atmosphere (UN Environment Program). There is reliable evidence of the fact that carbon dioxide buildup is due to human influences. Naturally emitted carbon dioxide differs in the nuclei structure from that produced by burning natural gas, oil and coal. Moreover, non-radioactive carbon dioxide emitted as a result of burning fossil fuels dilutes radioactive carbon dioxide naturally present in the atmosphere. Scientific research clearly shows that total carbon dioxide emission has increased steadily each year and is in direct relation with the human activities. The fact that the concentration of carbon dioxide in the atmosphere is greater in the Northern hemisphere can serve as evidence of it being human-induced, as most of the activities involving carbon dioxide emission are conducted in the Northern hemisphere. The fact that a certain amount of carbon dioxide has been added into the atmosphere every year has led to its present concentration, which exceeds pre-industrial level by 30% (AGU Climate Change Position). Besides carbon dioxide, human activities lead to the emission of another greenhouse gas – methane. Its emission results from cattle ranching, rice cultivation and decay in the landfills. An alarming 145% increase of methane content in the atmosphere was caused by human activities. The emission of chlorofluorocarbons used to be triggered by air conditioning and refrigeration, but since it was proved that these gases deplete the ozone layer of the stratosphere, their usage was nearly eliminated. Industrial and agricultural activities lead to the production of nitrous oxide, the concentration of which is currently 15% over the norm. Tropospheric ozone, formed naturally as a reaction to the greenhouse gas emissions, enhances the greenhouse effect dramatically (BBC News). The abovementioned human activities are extremely detrimental to the atmosphere as they create a multitude of tiny airborne particles, which change the energy absorbing and reflecting properties of the atmosphere. Unfortunately, according to the scientific research the increased concentration of carbon dioxide is likely to stay in the atmosphere for many years or even centuries.   Human-induced climate change is reality and the predictions of the scientists are such that it will produce a substantial impact on the climate system, being reflected in the melting of polar ice, changing of the sea levels as well as drought patterns (UN Environment Program). Anthropogenic interference seems to have reached unprecedented extent in the past few decades. According to AGU, the increasing concentration of greenhouse gases in the atmosphere enhanced by negative influence of other human activities presents serious grounds for concern (AGU Statement). The positive tendency nowadays is such that climate scientists possess deeper knowledge of the climate system, which allows to take more effective climate policy decisions.   Profound climate research, objective observations, improved modeling and computation have led to tangible progress in addressing the problem of climate change. The communication of scientific discoveries to organizations authorized to make decisions regarding climate change and their wise implementation are sure to decrease the adverse effects of human-induced disaster. In conclusion, there’s no denying the fact that climate change is largely due to human influences. The following human activities have contributed greatly to the alternation of the climate: air pollution, usage of fossil fuels and land alteration. However, now that the problem is obvious and so is its detrimental effect on the humanity, various measures are taken in order to decrease negative impact produced on nature and alleviate its harmful consequences. It is within the human powers to mitigate the climate change effects by cutting emissions of greenhouse gases, introducing rational land management and environmentally friendly technology. Works Cited How Do We Know that the Atmospheric Build-up of Greenhouse Gases Is Due to Human Activity? Common Questions about Climate Change. United Nations Environment Program World Meteorological Organization, 1997 http://www.gcrio.org/ipcc/qa/05.html Human Impacts on Climate. Adopted by Council December, 2003 http://www.agu.org/sci_soc/policy/climate_change_position.html Statement supporting AGU statement on human-induced climate change, American Astronomical Society, 2004 http://www.aas.org/governance/council/resolutions.php#climate Warming â€Å"very likely† human made. BBC News, BBC, 2007 http://news.bbc.co.uk/2/hi/science/nature/6321351.stm What Human Activities Contribute to Climate Change? Common Questions about Climate Change. United Nations Environment Program World Meteorological Organization, 1997 http://www.gcrio.org/ipcc/qa/04.html

The General Environment Consists Of Six Segments Marketing Essay

The General Environment Consists Of Six Segments Marketing Essay Telecom Corporation of New Zealand Limited Telecom is a  company based on media and telecommunications industry offering telecommunications and information, communication and technology (ICT) services in New Zealand and Australia. The company has a headcount of about 8297 employees as of 2011 (Annual report of Telecom New Zealand, 2011).Telecom Corporation of New Zealand Limited is the largest telecommunications service provider in New Zealand providing consumers and business people with a wide range of products and services. Telecom operates under the following business units: Telecom Retail , Gen-i, AAPT, Telecom New Zealand International, Chorus and Technology shared services (Annual report of Telecom New Zealand, 2011). Today, Telecom plays a significant marketing leader role by owning more than one million fixed line customers and over two million mobile connections in the New Zealand telecommunications market (Annual report of Telecom New Zealand, 2011). However, the companys total operating revenues and total gains for the financial year 2011 (ending June 2011) is about NZ$ 5122 million, a decrease of 2.8% over the financial year 2010 (Annual report of Telecom New Zealand, 2011). Environmental factors General Environment Analysis According to Hanson, Hitt, Ireland Hoskisson (2011), the general environment consists of six segments: Demographic segment Telecoms major operations are carried out in New Zealand and Australia which contributes to very less population globally. The region consists of people from different ethnic groups like Maoris, Europeans, Asians and Pacific Islanders with lots of immigrants from different parts of the world. The major source of income is through salaries and wages; others include interests, investments and self-employment. Economic segment The New Zealand economy is suffering a quite slow recovery with the GDP result growing by 0.3 % in December 2011 quarter (New Zealand Statistics, 2012). Furthermore, the companys revenue decreased in the year 2011 which is not a good thing in the industry. It also depends on the nations economic condition in the World Market. Sometimes recessions may also affect the companys performance. Political/legal segment Telecom has its own governance objectives, policies, taxation laws and regulations for its employees. It should also be following the Telecommunication Act set by the Government. Furthermore, the Telecommunication Amendment Act in New Zealand will simplify telecommunications regulation and increase the marketing competition within the telecommunication service industry in New Zealand (Telecom New Zealand, 2012). The firm should also be following the Human Rights Act and Employment law for the firms employees. Legal proceedings are carried out for violation of laws and regulations. Socio-cultural segment Telecom consists of diverse set of people in the workplace who helps in the companys success in the Global Market. The employees face a lot of challenges in order to meet the Companys goals and objectives. It has a wide range of diversity programs such as Leadership programmes, Global Women programmes and flexible working policies (Annual report of Telecom New Zealand, 2011). Telecom foundation was recently started to do charity and community works. The firm also have concerns about New Zealands environment (Telecom New Zealand, 2012). Technological segment Since Telecom being a part of the telecommunications Industry, there are a lot of new technologies and innovations being created at a very fact pace. So the company must learn the new technology very fast so as to adopt the new technology ahead of its competitors. The company has also shown interest in the new technology called the Ultra Fast Broadband initiative which is a new technology for faster broadband connections (Telecom New Zealand, 2012). There is also a more focus of globalisation of technology and internet enabled services. Global segment Telecom is company that is based in New Zealand and Australia. So the company is not globally attracted. It should expand the organisation globally so that it can gain a competitive advantage over its competitors when they have a global presence in the industry. Globalisation always helps in creating opportunities and challenges for the firm which makes them more successful in the industry. Industry Environment Analysis According to Hanson et al (2011), the five forces of Industry environment consists of : Threat of new entrants Entry into the telecommunication industry requires a huge capital because they need to build a great infrastructure within New Zealand. The threat of new entrants will be lower in the industry because they have to compete with its well-established competitors. However due to lower switching costs between service providers, the new entrant may have an opportunity in the existing market share when their services are cheaper than the existing competitors. The government policies are also liberalized for entry in the telecommunication industry which is an added advantage. Overall, the threat of new entrants in the telecommunication industry is medium. Planning Process and Strategies From the above General Environment we can find factors that influence and also affect the industry in the form of opportunities and threats. These factors mainly depend on the competitiveness, market share, substitute products, supply and demand. Opportunities can be listed as: Growing broadband market with the introduction of ultra-fast broadband initiative in New Zealand which helps the company to gain more customers. Mobile data services are being used more these days as people tend to use mobile for browsing the internet. Increasing growth of mobile payment service which is an easy and a convenient way to do transactions due to more use of Smartphones. Threats can be listed as: Globalisation of the company is important to survive in the industry Legal proceedings of the company involves more legal costs Intense competition among the competitors acts as a threat in the industry Team Structure And Dynamics The industry consists of only a few potential competitors which is an advantage for the company. But there are also new competitors and also the threat of new entrants which lowers the companys market share in the industry. The company has its own substitute products due to advancements in technology and thus when people want to switch from fixed to mobile connection; the company eventually retains its new customers. When the company is updated in the technological world, it will eventually gain new customers and also retain its own customers as well. Thus the bargaining power of suppliers is relatively high. Bargaining power of buyers The industry is characterised by large number of potential buyers who are independent in choosing their own service provider. Customers tend to choose their service provider based on the companys customer service and price range. So the customers gain an advantage to switch to other service providers when required which decreases the suppliers power. However when the buyers are in a contract period, the switching costs are relatively high which is an advantage to the suppliers. Thus the bargaining power of buyers is medium. Threat of substitute products Telecom is a part of the telecommunication industry and it has its own substitute products as the company has both fixed and wireless connections. Since the substitute products are there within the own company it is not found to be a key issue for the company. Thus overall the level of threat of substitute products is relatively low. Rivalry among competing firms The New Zealand Telecommunication Industry has its major competitors like Vodafone, Telecom, Telstra clear and 2degrees. The rivalry among these competitors is relatively high because of their different approaches in the industry. Vodafone is said to be the major competitor of telecom because of its global presence in the industry. 2degrees has also set a mark in the industry due to its cheaper prices and quality plans. Thus the rivalry among the competing firms is said to be high. Competitor The key competitors of Telecom across various business units are Telstraclear, Vodafone Group PLC, Hutchison Telecommunications (Australia) Limited, AirNet Systems, Inc, Woosh Wireless, CallPlus Ltd, Hewlett-Packard Company, IBM Corporation, Singapore Telecommunications Limited (SingTel), Two Degrees Mobile Limited, Orcon Internet Limited. Though Telecom is one of the largest communication industries in New Zealand, there are also potential threats because of its competitors. Vodafone is the largest mobile phone operator in New Zealand which is mainly because of its global presence in over 30 countries. 2degrees is also gaining advantage with low call rates and innovative plans. So Telecom should gain competitive advantage by expanding the organisation globally by providing quality service and cheap products. Leadership: Telecom following the democratic leadership. Democratic leaders make the final decisions, but they include team members in the decision-making process. They encourage creativity, and team members are often highly engaged in projects and decisions. There are many benefits of democratic leadership. Team members tend to have high job satisfaction and are productive because theyre more involved in decisions. This style also helps develop peoples skills. Team members feel in control of their destiny, so theyre motivated to work hard by more than just a financial reward. Because participation takes time, this approach can slow decision-making, but the result is often good. The approach can be most suitable when working as a team is essential, and when quality is more important than efficiency or productivity. The downside of democratic leadership is that it can often hinder situations where speed or efficiency is essential. For instance, during a crisis, a team can waste valuable time gathering peoples input. Another downside is that some team members might not have the knowledge or expertise to provide high quality input. Conclusion: Telecom has a leading marketing position within the highly competitive marketplace. Currently the management of Telecom is facing some strategic issues in telecommunication industry. Some of the key issues are the Ultra Band Broadband initiative introduced by the New Zealand Government which is said to be the future of broadband connections in New Zealand. So Telecom should be very keen in providing better service to the customers with the new broadband initiative so as to gain a competitive advantage over other competitors. The companys profitability and revenue has also decreased in the financial year 2011 which is considered to be an issue in the market value of the company, so the company should try to gain more profits and revenues in the future. The company should also change its marketing strategies so that it can attract more customers in the future. With lots of new technologies being innovated the company can use these technologies to market their products and services so as to create positive market position in the industry.

Invasive plants Essay -- Native Plant Species, Environment

Since we are accustomed to a life full of modern conveniences, it is important to remember that human survival still depends on the planet's natural diversity. Pennsylvania has 25,000 species of plants and animals, with more than 2,100 being native (IConserve, 2007). It is critical to appreciate the sustainable use of these natural resources that influence our beautiful state’s economic health and quality of life of all Pennsylvanians. Yet many threats to our home’s biodiversity are present. One significant threat is invasive plant species that are eliminating native plant species. Invasive plants are plants which grow aggressively, spreading and displacing other plants (Ball, 2002). Whether it is intentional or not, they are often introduced by humans. On the other hand, native plants are pants that existed within Pennsylvania before European settlement. Because they are meant to grow here, they are quite beneficial to the environment as well as people (Fell 19 95). In order to preserve Pennsylvania’s health and natural beauty, it is essential to control the growth of invasive plant species while supporting the growth of native plant species. When Pennsylvania was first settled in the 1600’s by William Penn, abundant plants covered about 90% of the state (IConserve 2007). All of these plants are considered to be natives because they existed in the area before human settlement. Unfortunately, due to human interactions with nature, the landscape has changed significantly over time. Many plants that once defined Pennsylvania have been lost; however, this problem can be reversed to some extent. By 2000, five percent of Pennsylvania’s native plant species had been lost and another twenty-five percent were in danger o... ...s that are invasive and controlling or destroying any invasive species. These plants are adaptable and grow well under a wide range of conditions and therefore have a much better chance of thriving. It is also important to use fertilizers in moderation because high nitrogen often stimulates the aggressive growth of plants (Fell, 1995). Planning land management is also important. Weekly mowing is important for the maintenance of lawns and weeding is important for gardens. Pennsylvania’s meadows should be mowed annually and woodlands should be monitored for the need to remove invasive plant species (Ball, 2001). Unfortunately, invasive plants are causing problems not only in Pennsylvania, but all across the country (Invasive Plants: Silent Invaders, 2004). It is essential that efforts are made in order to keep this plant crisis from deteriorating further.

Plastic Surgery Essay -- Plastic Surgery Cosmetic Surgery

Have you ever considered having plastic surgery? After reading this paper you might want the surgery or you might not. Plastic surgery, a form of art, can reconstruct your body and renew your confidence but can you accept the risks involved?   Ã‚  Ã‚  Ã‚  Ã‚  Plastic surgery ranges from one- thousand dollars to three- thousand dollars or more depending on the surgery (Body fat reduction: Suction-Assisted Lipectomy). There are plenty types of plastic surgery. One type is called liposuction. The best candidates for liposuction are of relatively normal weight with pockets of excess fat in particular areas. They should be physically healthy, psychologically stable, and realistic in your expectations. An important thing is to have firm and elastic skin. â€Å"Loose, drooping skin won’t reshape to your body’s new contours, and may require an additional procedure to surgically remove the excess skin. It will leave visible scars'; (Liposuction).   Ã‚  Ã‚  Ã‚  Ã‚  Before you decide to go through liposuction try diets and weight loss programs. If you can’t loose a certain buldge then liposuction is a good alternative (Thigh Liposculpture). Liposuction is started by making a small incision, (about half an inch or less), in the skin, often in or near the buttock crease or a previous scar. The small suction rod, called a cannula, is inserted and connected to a vacuum source with a suction tube. The vacuum sucks the fat out and leaves everything else intact (Thigh Liposculpture). Usually the surgery takes about an hour or two, but the time required may vary considerably from thirty minutes to several hours, depending on the amount of work your having done. â€Å"If your procedure is not too extensive – that is, if no more than one and a half pints of fat and fluid will be removed – liposuction can be performed under local anesthesia, which numbs the area, combined with a sedative to make you drowsy'; (Lipos uction).  Ã‚  Ã‚  Ã‚  Ã‚   A benefit of having liposuction done is that fat is removed and gone forever. It can offer a new shape for people who thought it was impossible. â€Å"Liposuction will not, however, prevent you from gaining weight in the future, and will not keep you fit and in shape. In order to assume good skin contour, you must be conscientious about wearing the support garments recommended be your doctor'; (Thigh Liposculpture). Does the fat come back? â€Å"Fat cells are not though to regenerate, and ... ...ressed because she saw other women with breast and cleavage she used to have. So she decided to go through reconstruction. The danger of silicon gel was circulating widely so she went to a doctor that reconstructs breast from a women’s own body fat (Nemeth, Mary).   Ã‚  Ã‚  Ã‚  Ã‚  Reconstruction by using the woman’s own body fat is dangerous. First, the surgeon opens your abdomen and cuts through your muscles. They have to redirect your arteries and take the fat out. Then, the surgeon reconstructs their breast with the fat. As Carolyn Haltrecht said, â€Å"It took me the whole summer to admit to myself that I’m not very happy with the way I look and there’s nothing wrong with plastic surgery'; (Nemeth, Mary). According to Marcia Angell, â€Å"Polls indicated that the great majority of women with breast implants were pleased with the results'; (Angell, Marcia).   Ã‚  Ã‚  Ã‚  Ã‚   In conclusion, There are many risks involved in plastic surgery. Although you look like you have always wanted to after plastic surgery, is it worth all the possible effects that could take place? Think hard before you make changes on your body.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"In short, you cannot meet the future if you look like the past'; (Neimark, Jill).

Econ Syllabus

I will spend most of the time going through the theory and ideas that form the fundamentals of labor economics. However, it is important that students are aware of the simple facts of labor market in the US. Using the theory and facts, it should be possible to evaluate labor market policies.II. Prerequisite: The course is designed for economics majors and others who are already seriously interested in economics. Economics 301 Is a prerequisite. Ill. Evaluation: There are two methods used to calculate the course grade; I will choose for you at the end of the term whichever method gives you the higher grade. Method 1 Is designed to reward students who show consistent progress throughout the course, while Method 2 rewards those students who show improvement over the semester. Methods : Quizzes Homework and participation First midterm Second midterm FinalDate: Swept. 25th, 2014 class time Date: Date: Deck. 14th, 2014, Methods: Homework and participation 45% IV. Textbook (required): Labor Economics, George J, Boras (McGraw-Hill 6th edition) You can also use the 5th edition, which is much cheaper, and the content is much the same. V. Course outline: My lecture will be based on the textbook, highlighting fundamentals of labor economics that students should grasp. I plan to cover the following topics, but changes could be made, subject to the progress of the course. 1. The basics The subject of labor economics Theory and facts 2.Labor Supply (1) The basic static individual labor supply The labor/leisure choice and indifference curve The budget constraint The hours of work decision Income and substitution effects Individual labor supply Effects of taxes and subsidies (2) Extensions Life cycle labor supply Labor supply over business cycle Retirement Family labor supply Fertility and labor supply 3. Labor Demand Inputs and the production function Employment decision: short-run and long-run Elasticity of substitution Derived demand 4. Labor market equilibrium Equilibrium i n the competitive labor marketNon-competitive labor markets: monopoly and monopoly 5. Wage differentials The hedonistic wage function Labor supply and risk Safety and health regulations 6. Human capital Education and income Present value calculations Costs and returns to schooling Training Age-earning profile Policy 7. Wage structure Earning distribution Why do wages differ? Changes in the earning distribution International income distribution 8. Labor Mobility Mobility and migration Immigration in the US Models of immigration Benefits and costs of immigration Immigration policy.