Genetic Engineering Essay - 986 Words

Genetic Engineering Many scientists today are all trying to prefect the studies of genetic engineering, also known as cloning. This has become one of the most popular studies of this decade. Scientist says that with genetic engineering the human race can live forever. For some people cloning could be the greatest experiment of all time, but also it could be the most dangerous and harmful experiment that was ever attempted. Why do we feel the need to clone humans, animals? Should we just let human live and die just like god intended or should we try to be immortal? As you read on you the reader decides if genetic engineering is the greatest experiment we ever attempted or should we band cloning forever. According to B. Julie†¦show more content†¦DNA is substance that encodes genetic information passed from one generation to the next. By using DNA scientist are able to cross plants for example crossing pea plants to make different types of plants. Experimenters can also cross bread in ways that were unimaginable to humans. For example cross human DNA with a pig, they also crossed DNA strands with a cow and a fish. Some scientists have been awarded for the strange crossing of DNA strands for having come up with a way to genetically engineer those uncommon life forms. They also get Pantene for those weird cross breads like it was an invention. Not all experiments are successful though. Dr. John Haster a cofounder of an animal biomechanical company of Pennsylvania was never made by nature. There are very many deformations that animals go through that affect the way they live and when the animal starts to grow up they go through torture. So why do they keep doing all these cur l experiment on animals will this benefit use in the future? A lot of people are asking them selves if scientists are trying to play god. To many people who care about humans and are future say that many scientists are. People say that we should just live and die just like god intended. The scientist that perform these experiments say that if god wanted that he would never have gave us this major break through and new ideas to help the human race live longer and healthier. Dr Edwin Chagaff, professor Emirtitos of biochemistry at ColumbiaShow MoreRelatedGenetic Engineering ( Genetic Modification )991 Words   |  4 PagesRevised HOMEWORK 1 (a) Genetic engineering (genetic modification) is a process by which an organism’s genome can be modified using various biotechnology techniques. The process involves manipulating the DNA of an organism or transferring genes into an organism to create a new and improved version. DNA sequences of certain organisms are inserted into different organisms or within the same organism to help us obtain favorable outcomes. Genetic engineering can be used to increase the disease resistanceRead MoreGenetic Engineering And Human Engineering3020 Words   |  13 PagesGenetic engineering is a highly debated topic across the world right now as countries are split for and against genetically altering crops and livestock. The simple definition for genetic engineering according to CSIRO is â€Å"The use of modern biotechnology techniques to change genes of an organism, such as plant or animal.†(CSIRO, 2007) The techniques or steps to genetic engineering are quite technical. The first stage of genetic engineering is to isolate the DNA from the organism. Once the DNA strandRead MoreGenetic Engineering In Our Food.. Genetic Engineering,1514 Words   |  7 PagesGenetic Engineering in Our Food Genetic Engineering, more accurately referred to as â€Å"Bioballistics† a process where a small metal projectile is covered in plasmid DNA is fired at a small petri dish where Germ Cells of another organism awaits. 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These occurrences are real, and they have succeeded. Scientist who study biotechnology use genetic engineering to create healthier and longer lasting food. This new technology is evolutionary and has many benefits, but it also has downfalls. Genetic engineering, or geneticallyRead MoreWhat Are Genetic Engineering?1634 Words   |  7 Pagesstrategies include endowment of nutrient supplements, enrichment of processed foods to contain more nutrient content, and enhancement of staple crops with increases essential nutrient contents, known as biofortification (Zhu et al., 2007). 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The release of genetically altered organisms in the environment can increase human suffering, decrease animal welfare, and lead to ecological disasters. The containment of biotechnological material in laboratories and industrial plants contributes to the risk of accidental release, especially if the handling and storage are inadequate. The purely political dangers include intensified economic inequality, the possibilityRead MoreGenetic Engineering : Genetic Modification1518 Words   |  7 Pageswrite my paper about Genetic engineering also known as genetic modification. In a nutshell genetic engineering is the modification of an organism s genetic composition by artificial means, often involving the transfer of specific traits, or genes, from one organism into a plant or animal of an entirely different species. This topic has been researched for decades but still has quite some time to be fully mastered in all possible circumstan ces. When I think of genetic engineering I think of differentRead MoreThe Genetic Engineering of Human Food1924 Words   |  8 Pages Genetic Engineering refers to the direct manipulation of the genetic information of living beings. The genes, embedded in the DNA, are the blueprints of life which determine particular traits in an organism. With Biotechnology, Genetic Engineers are able to replace these genes from one organism to another, resulting in completely new combinations of traits which do not occur in nature. These Genetically Modified Organisms are artificially enhanced to express desired characteristics that are useful

The Problem Of An Ideal Program - 2897 Words

A solution is not only needed for the overcrowding in our prison system but the implementation of a program that will deter further crime. Some prisons are looking at their prisoners and evaluating them for an early release which is not always the best solution. The prisons are on a budget and not able to offer the programs that would best benefit the prisoners for release back into the community. This leads to the need for studies to find what program(s) would best suit the prison system and benefit that particular population on the whole. Finding a program for prisoners that will deter future acts of criminal activity could save those prisons money as less people will be returning. An ideal program would be dynamic and be easily facilitated in a group setting. This study will look at one possible aspect that may be included in an ideal program, empathy training. Empathy is seen in two different types, cognitive and emotional. Each gives a different aspect to how the individ ual processes information. Cognitive empathy would be the decoding and describing emotional states of others, such as facial expression. Emotional empathy would be the responsiveness to another’s emotional state. Cognitive empathy is the processing of others emotional states and emotional empathy is the response to other’s emotional states. Both of these aspects of empathy are important for this study. This study is to find out if empathy training will impact repeatedShow MoreRelatedThe Problem Of Depression Programs849 Words   |  4 PagesWhich brings us to what schools are currently doing, which they rarely implement the ideal practice causing problems overall. As stated previously, schools have a tendency to treat these issues as independent problems causing the institution to spend an abundance of money on multiple programs when one or two would suffice. This attempt to penny pinch has lead schools to implement programs such as late starts (one day every two weeks or month that has a later start time) and sleep education (thatRead MoreBest Practices of American Airlines937 Words   |  4 Pagesgiven field. The term of â€Å"Best Practices† is used often times in healthcare education systems project management as well as government administration and several other organizations. These things make certain businesses become the best in class or the ideal for its category. Examples of best practices are but are not limited to things that deal with price, employee perks or how happy the employee is, motivation, teamwork, as well as customer appreciation. 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According to Carey and Dimmitt, it is essential for counselors to use evidence-based practice to make sure they are able to ensure and improve student outcomes (2008). Counselors would be able to use a model to facilities research, that is to use data to identify a problem, find practicedRead MoreCounseling : The Mind Body Institute s Education Initiative With Nurses884 Words   |  4 Pagescrying has also been seen to help let out anger in a therapeutic way. Milliken et al. (2007) recommend by â€Å"Utilizing a program such as the Mind Body Institute’s Education Initiative with nurses may translate toward improved health and, consequently, fewer missed days of work, enhanced patient care, and improved relations within and among nurses, staff, and patients†. This program assists individuals when it comes to reducing stress by educating people about different methods to help cope with stressRead MoreMedia s Influence On Women s Thin Ideal Essay1538 Words   |  7 Pagestimes. Having special concern for those in need. men and women who will live not for themselves, but for the service to God, to make those that suffer have the support they need in order to get back on their feet. Media s Influence on Women s Thin-Ideal Internalization Sociocultural factors, or in other words, customs, lifestyles and values that characterize a society or group, play a large part in the way individuals think of themselves and others. Throughout childhood, children are socialized toRead More Title IX Essay examples944 Words   |  4 Pagesmany ways, including quality of education, receptivity to education, empowerment and creation of ideals. Title IX qualifies as a social justice issue because it addresses social inequalities. Women before Title IX were not accorded the same rights as men in federally funded school systems, such as quality of education in certain circumstances or equal opportunity to participate in sports programs. These inequalities in education lead to further injustices, such as unequal distribution of women

Balance of Payments Concepts - Components - Importance - Examples

Question: Discuss about the Introduction Balance of Payment. Answer: Introduction The balance of payment is the statement that briefs a countrys economy transactions with the rest of the globe for a particular period. On a general basis BOP of a country is calculated quarterly in every financial year. The Balance of Payment or in short BOP is also known as the balance of international payments, encloses all the business affairs between citizens of a country and the non-residents which include services, financial claims, liabilities, goods, income, and any transfers such as gifts (Alawattage, 2009). All the business transactions handled by either the public sector or a private sector are accounted for in the Balance of Payment to find out the amount of money going out and coming in the country. If money is coming in the country, then it is known as a credit, and when money goes out of the country then it is known as debit. These transactions are divided into three accounts by the BOP, and they are the Current account, the financial account, and the capital account. The current accounts consist of the business transactions in services, investment income, current transfers, and goods, while the capital account mostly consists of business transactions in financial instruments. A country economys BOP transactions, dealings, and international investment position are calculated together to establish its set of international accounts. In theory, the Balance of Payment of a country that includes the assets that are the credits of the country and the liabilities that is the debit of the country should be zero, but in reality, this rarely happens. Thus, the BOP of a country can tell clearly that from where the differences are emerging in the economy (Bussire, 2013). Breaking Down of the Balance of Payment The balance of payment is not actually includes the payment of money and receiving of money by an economy of a country. But, it is the data that includes the transactional details of a country with rest of the world. Many times the international collaborations get included in the BOP does not include money payment. Thus, the numbers here can be very much different from the actual payments made over a period to foreign entities. As mentioned before that BOP never actually balances. In theory, a deficit amount in a current account has to be financed with the help of net inflow coming in the financial and capital account, a surplus amount of current account need to be corresponded in the financial and capital account to an outflow to get a zero net figure (C., 2015). When the actual figure has calculated the data that is compiled with the help of multiple sources, increase the chances of measurement error up to some level. In the formulation of national and international economy policy, the data about the balance of payment and position of international investment is very critical. Various aspects of BOP data are the key issues that need to be addressed for a nations economic policies, and they are payment imbalances and foreign direct investment. The economic policies formed by a country are often designed to target some specific objectives and goals and which in turn leaves an impact on the BOP of the country. For example, policies that are specially created to attract foreign investment can be adopted by a nation to increase foreign investment in a particular sector. Another country can adopt a policy that keeps the currency of the country at an artificially depressed level to increase exports that will help in creating currency reserves for that country. The ultimate impact of these policies will be seen in the balance of payment (Chernyak, Khomiak and Chernyak, 2013). The Balance of Payment of a country is divided into three categories, and they are as follows:- The Current Account- to mark the outflow and inflow of goods and services into a nation the current account is used. Any type of earnings done on investments, both on private sector and public sector, are also added in the current account. The credits and debits on the transactions of products like raw materials, and the produced goods that are sold, bought, or given away many be in the form of an aid, comes in the current account. The services that are included in the current account are like receipts earn from tourism, business service fees, engineering, transportation, and royalties gained from copyrights and patents (Egger and Maria Radulescu, 2011). The combination of goods and services makes the nations balance of trade. Combining the total of imports and exports made up the BOT that is the maximum sum of a countrys BOP. If a countrys BOT is showing deficit, then the imports of the country are more than the exports, and if the country has a surplus BOT, then the exports of the country are more than its imports. Any type of receipts coming from income-generating assets like stocks is also added in the current account. The last part of BOP that is included in the current account is Unilateral Transfers. These unilateral transfers are generally the salaries credit in the accounts of workers working abroad and sending their salaries to the home country. Also all types of foreign aids directly received by the country come under the unilateral transfers (Eichengreen, 2013). The countrys current account is the best indicator of the economys health. Current account showing a positive balance displays that the country is the net lender to the other countries, while if the balance of the current account is negative than it makes the country a net borrower. A countrys net assets increase with the surplus current account balance and decreases if the account shows the deficit amount. A countrys current account balance gets affected by various factors like the trade policies of the country, its exchange rate, forex reserves, inflation rate, and competitiveness (Filipovic and Garic, 2014). The Capital Account- the capital account includes all the international capital transfers. Acquisition or disposal of any type of non-financial assets is included in the capital account such as physical assets like a land, assets that are not produced yet but needed for production, like a mine which is being used for extracting coal. The capital account could be divided into the financial flows that are branched into debt forgiveness, financial assets gained through the migrants leaving or entering a nation, the transfer of goods, transferring the ownership of fixed assets, all types of gifts and inheritance taxes, uninsured damage of fixed assets, death levies, and funds received from acquisition or sale of land (Freund, 2010). The net change in the financial and physical ownership of a country is shown in the capital account, along with the balance of current account, the balance of payment of a country is constituted. Foreign investment, changes in a reserve account, other investm ent, is included in the capital account. A capital account can also be referred as the account that can display the net worth of a business at a specified period. The economic activities of a country are calculated in the capital account of the nation. The amount that an investor pays an organization is recorded in the form of general ledger account which gives a cumulative amount of the earning company is doing. The balance of the capital account is reported in the form of partners equit, or owners equity section in the balance sheet (Ishikawa and Horiuchi, 2012). The Financial Account- in the financial account of the country the international monetary flows in relation to business investment; stocks, bonds, and real-estate are documented. Foreign reserves, special drawing rights, gold, and government-owned assets like foreign reserves are also included in the financial account of a nation. Along with them the assets owned by foreigners are also recorded in the financial accounts. A financial account is that part of a nations BOP which deals with the claims or liabilities to non-residential, specially related to the financial assets (Kalamova and Konrad, 2010). It includes the portfolio investment, reserve assets, direct investment and those who are broken down by the sector. Any claim made by the non-residents of the nation on the financial assets of the citizen of the country are considered as a liability, while any claim made against the non-resident by the countrys citizen are taken as assets. The financial account is further divided into two sub-accounts to provide a tracking mechanism for the ownership transfer of the international asset. The first sub-account is related to the domestic ownership of the foreign assets, like securities of a foreign company, or any foreign bank deposits. The second sub account includes the foreign ownership of domestic assets, like any type of purchase done by foreign entities of government bonds or loans given to a domestic bank by a foreign firm (Kristjansdottir, 2010). Other important parts of Balance of Payment Basic Balance- basic balance is an economic measure taken for the BOP which adds the current and capital account balances. The basic balance proves to be an alternative method to the deficit or surplus for the BOP due to the change in the exchange rate system. The basic balance is use by the economists to determine the trends of countrys BOP in a long-term. This measure is less helpful in short-term fluctuations that may occur in the exchange or interest rates. It incorporates the fluctuations of international investments from the capital account that gives a better response regarding long-term changes in a countrys productivity (Mathew, Vijaykumar and Jacob, 2013). Official Settlement Account- to keep track of the reserve asset transactions of central banks with each other in BOP an official settlement account is used. All types of transaction related to gold, bank deposits, foreign exchange reserves, and special drawing rights are tracked by the official settlement account. Official settlement account essentially keeps track of all the transactions including international assets (Odili, 2014). Average Balance- the average balance means the balance on a depositary or a loan account. The calculation of average balance is taken out by adding the beginning balance and ending balance together and dividing it by two. The time balance remained at a particular level at the calculating period that may be a month or a quarter of a year is taken into account by average balance account. It is commonly used to find out the average daily balance, especially when taking in account the interest on loans. As banks cannot charge interest, on interest all types of payments are applied to the due interest payment and then comes the principal amount. Average balance can be used by the investors who trade on margin accounts and wanted to determine margin requirements that the brokerage makes (Ojha, 2016). Account Balance- the amount of money at any point of time in a financial repository is known as an account balance. It can also be the money that a person owed to a third person like a credit card company, mortgage banker, utility company, or any other creditors. After factoring the debits and credits, the net amount is shown in the account balance. Unilateral Transfer- an economic transaction happening between the citizens of two different countries over a specified period is known as a unilateral transfer. It includes transactions like pension payment, gift exchanges, and other goods and services. Unilateral Transfers are added in the nations BOP through current account. Unilateral transfers are different from international trade, including things like humanitarian aid and payments coming from immigrants to their home country (Oladipupo, 2011). The Balancing Act- it is necessary that the current account should be balanced with the added balance of capital and financial accounts. But as told earlier this rarely happen in any country. The fluctuating exchange rates, the value of money changes and that can add discrepancies in BOP. If a deficit is found in the current account that is the balance of trade deficit, then that difference can be covered by borrowing the fund from the capital account. The borrowed amount is taken as an outflow of capital account if a country has a fixed asset abroad. But, if that fixed asset is sold then it will be added to the current account inflow. If a countrys balance of payment is showing a deficit in the current account then it means that for more goods and services the country is foregoing its capital assets. If the money is borrowed to balance the current account deficit then it would be taken as an entry of foreign capital in the balance of payment (Petrovic and Gligoric, 2010). Liberalizing the Accounts- the late 20th-century rise of global finance and trade urged the BOP and liberalization of macroeconomic in most of the developing countries. With the economic boom entering in the emerging market, the capital flows tripled in these markets. Until the 1980s when Asian crisis struck the world and spurred countries to release restrictions on financial and capital account transactions, to take the advantage of the capital inflows. Most of the developing countries have restrictive macroeconomic policies, which regulated the ownership of non-financial and financial assets by a foreigner (Rahman, 2016). These rules limit the transfer of funds abroad. With the linearization of capital and financial accounts, the growth of capital market increased, which not only initiated transparency and sophistication in the market for the investors, but also attracted foreign direct investment. Like an investment made in a new power station will be bringing a nation great expos ure to new technologies and growth, which will eventually be increasing the overall GDP of the nation allowing the prospects of increased volumes of production. A diversified market decreases the risk which will come due to liberalization (Stepanovic-Petrac, 2008). Balance of Payment Crisis When a country has a deficit of the balance of payment that is unsustainable, then it is known as the balance of payment crisis. When a large amount of money flows out of the country and the borrowing power of the country is less than the situation becomes a crisis for the country. A BOP crisis become serious when a situation comes where the budget of the country is exceptionally large and the finances of the country become deficits for a long period, and the debt of the country increases beyond the bound oh handling (Swenson, 2006). Many countries has faced severe crisis of balance of payment in the 290th century few examples of such balance of payment crisis are:- 1991 Indian Economic Crisis 1994 Economic Crisis in Mexico 1997 Asian Financial Crisis 1998 Russian Financial Crisis 1999-2002 Argentine Economic Crises Reason of balance of payment crisis It is necessary to understand the reasons due to which the balance of payment crisis occurs in a country. The balance of payment crisis is very harmful to the economy of the country. If the reasons are known to the government of the country for the balance of payment crisis, then measures could be taken to avoid it to happen (Yan, 2003). The reasons for the crisis of balance of payment are as follows: - Ever increasing trade gap- due to trade gap, trade deficit occurs that means a huge rise in imports but a substantial rise in exports of the nation for a long period. Import Liberalization- liberalization given in the rules and regulations of imports led to increasing of products imported. Increase in Import Intensity- the increase in national income popularizes and increases the demands of imported product. This led to the increase of imports in a country. Import of Oil- developing countries need a lot of oil products for their necessities and luxuries thus the demand for oil increases, which in result increased the import of oil (Ziying, 2014). Imports of essential items- when a scarcity of an essential product arise it becomes important for a country to import that product from other countries. Raise in the prises of Imports- the rise in the prices of the necessity products made country spend more on the imports that led to the balance of payment deficit (Khawar, 2005). Deterioration in the exchange rate of the currency- if the exchange rate of the currency deteriorates then the imports becomes expensive for a country. This increases the balance of payment deficit. All the above-given reason led a country towards balance of payment crisis. Thus, it becomes necessary for the economic department of the country to pay attention towards the number of imports a country is doing and the exchange rate of the currency of the nation should not deteriorate when the number of imports are more than the exports of the country (Williams, 2015). Conclusion A countrys smooth running depends on the condition of the economy of the country. A country decides a budget for itself as per the requirement of the nation. This budget includes all the expenses that a country will bear and all the finances that the government will be getting from various sources. The balance of payment is the condition when a countrys all the liabilities are equal to the assets of the country. These credits and debits are the transactions that take place between two countries. There are a number of factors that are used to have a balance of payment in a country like capital account, current account, and financial account. These accounts are further divided into various other parts that help in maintaining the countrys balance of payment. Like liberalization of account, average accounting etc. It is very necessary to control the balance of payment of a country because if the deficit of the balance of payment becomes larger than the borrowing power of the country and for a long period than it leads the country towards the balance of crisis. There are many examples of countries those who have faced this balance of crisis. There are many reasons for the deficit of the balance of payment, but the increased imports, and decreased exports is the main reason for the deficit of balance of payment. Hence it is concluded, that balance of payment in a country is very important to maintain for the smooth running economy of the nation. References Alawattage, U. (2009). Exchange Rate, Competitiveness and Balance of Payment Performance. Staff Studies, 35(1). Bussiere, M. (2013). Balance of payment crises in emerging markets: how early were the early warning signals?. Applied Economics, 45(12), pp.1601-1623. C., U. (2015). Monetary Policy and Balance of Payment in Nigeria ( 1981 - 2012 ). Journal of Policy and Development Studies, 9(2), pp.14-26. Chernyak, O., Khomiak, V. and Chernyak, Y. (2013). The Main Triggers of the Balance of Payment Crisis in the Eastern Europe. Procedia Technology, 8, pp.47-50. Egger, P. and Maria Radulescu, D. (2011). Labor Taxation and Foreign Direct Investment*. Scandinavian Journal of Economics, p.no-no. Eichengreen, B. (2013). Number One Country, Number One Currency? 1. The World Economy, 36(4), pp.363-374. Filipovic, S. and Garic, D. (2014). Analysis of the cause of global balance of payment imbalance. Poslovna ekonomija, 8(2), pp.277-300. Freund, C. (2010). Third-country Effects of Regional Trade Agreements. The World Economy, 33(11), pp.1589-1605. Ishikawa. J. and Horiuchi, E. (2012). Strategic Foreign Direct Investment in Vertically Related Markets*. Economic Record, 88(281), pp.229-242. Kalamova, M. and Konrad, K. (2010). Nation Brands and Foreign Direct Investment*. Kyklos, 63(3), pp.400-431. Kristjansdottir, H. (2010). Foreign Direct Investment: The Knowledge-Capital Model And Small Country Case. Scottish Journal of Political Economy, 57(5), pp.591-614. Mathew, J., Vijaykumar, N. and Jacob, E. (2013). Balance of Payment Crisis in India: What the Figures say. Arthshastra : Indian Journal of Economics Research, 2(5), p.14. Odili, O. (2014). Exchange Rate and Balance of Payment: An Autoregressive Distributed Lag (Ardl) Econometric Investigation on Nigeria. IOSR Journal of Economics and Finance, 4(6), pp.21-30. Ojha, G. (2016). State of Remittance and Balance of Payment in Nepal. Economic Literature, 11, p.15. Oladipupo, A. (2011). Impact of Exchange Rate on Balance of Payment in Nigeria. African Research Review, 5(4). Petrovic, P. and Gligoric, M. (2010). Exchange rate and trade balance: J-curve effect. Panoeconomicus, 57(1), pp.23-41. Rahman, M. (2016). Impact of Foreign Direct Investment Inflows on Capital Account of Indias Balance of Payments. Business and Economic Research, 6(1), p.111. Stepanovic-Petrac, Z. (2008). Bretton Woods 2 system and US balance of payment deficit. Medjunar probl, 60(1), pp.116-136. Swenson, D. (2006). Country Competition and US Overseas Assembly. The World Economy, 29(7), pp.917-937. Yan, H. (2003). Capital mobility, intertemporal current account balance and currency crisis. Global Business and Economics Review, 5(2), p.297. Ziying, M. (2014). Inward Foreign Direct Investment, Entrepreneurial Behavior, and Outward Foreign Direct Investment: Evidence from China. IJBM, 9(9). Khawar, M. (2005). Foreign Direct Investment and Economic Growth: A Cross-Country Analysis. Global Economy Journal, 5(1). Menkhoff, L. (2013). Foreign Exchange Intervention in Emerging Markets: A Survey of Empirical Studies. The World Economy, 36(9), pp.1187-1208. Williams, S. (2015). Foreign Currency Exposure within Country Exchange Traded Funds. Frontiers in Finance, 1(0), p.28.