The labour market influence in the determination of pay

In labour economics, the techniques used to manage pay is of great significance in the conduct of workplace affairs. The payment of labour is fundamental in moulding the relationship between employers and employee (Lipsey Chrystal, 2007, p. 217).Advertising We will write a custom essay sample on The labour market influence in the determination of pay specifically for you for only $16.05 $11/page Learn More Indeed, it is the most visible focal point of all concerns related to labour. It is against this back drop that employers have devised various value propositions in fixing pay for their employees. The pay-fixing strategies have undergone notable transformations in the latter years (Lipsey Chrystal, 2007, p. 576). Needless to say, this has fairly weakened the influence of labour unions bearing in mind that competitive pressures have become intense and globalised. Nonetheless, it is imperative to mention that the cost of labour is pay and consequently it would cover wider terrains of market force that than the influence brought about by a unit employer (Lipsey Chrystal, 2007, p. 9). To be precise, pay can be described as the primary compensation for labour done within a given period of time. From the background of conventional economic theory, there is a conspicuous denial that employers do not have any defined role in setting up pay standards. However, it is commonplace for similar firms operating within the same geographical environment and market conditions to offer varying wages to their employees, which can only be explained by the fact there are other factors that determine pay other than the internal mechanics of a firm (Baumol Blinder, 2007, p.165). This paper explores the extent at which the labour market determines pay with cross reference to organisational behaviour patterns within a firm as well as the impact of state regulation on wage standards.Advertising Looking for essay on business economics? Let's see i f we can help you! Get your first paper with 15% OFF Learn More Labour remains as one of the most fundamental factors of production (Lipsey Chrystal, 2007, p.208). In labour economics, it is perceived to be a derived demand in the sense that it is critically required in the process of production, not just an intermediary component. In any case, revenue generation and profitability of a business organisation is largely dependent on labour input. Moreover, the Marginal Revenue Product will quite often determine the need for surplus labour whenever required by a firm (Lipsey Chrystal, 2007, p. 638). In addition, the marginal cost of an employee is yet another determinant whether additional labour will be required by a firm or not (White, 2002). For example, a firm can only retain a certain number of workers above which it will cease to be profitable. In order to obtain the right computation of the Marginal Revenue Product, the product between the cost price of the either goo d or service at the end of production and the Marginal Physical product of the employee is calculated (Baumol Blinder, 2007, p.165). If the firm’s Marginal Cost is less than the Marginal Revenue Product, then the business enterprise will be at liberty to hire an additional worker since it will boost profitability. Nevertheless, hiring of additional labour force can be effected by the firm up to a mark when the two margins are congruent to each other (Baumol Blinder, 2007, p.167). Hence, according to economic theory, the labour market will be considered saturated when the hiring firms have attained the mark whereby the Marginal Revenue product is equal to the Marginal Cost (Baumol Blinder, 2007, p.169). It is sometimes pragmatically cumbersome to equalize pay among employees in a given firm. This has been found to be notably common in labour markets that are partly or fully resilient or mixed altogether (Kessler Purcel, 1992, pp.23-24).Advertising We will write a cust om essay sample on The labour market influence in the determination of pay specifically for you for only $16.05 $11/page Learn More For instance, if a doctor and a security officer are hired by the National Health Service, their pay will definitely differ by a great deal although working in the same firm (Kessler Purcel, 1992, pp.18-21). There are myriad of factors that can be used to explain this phenomenon. A security officer has a far lower Marginal Revenue Product than a doctor. Moreover, becoming a security officer has less barriers compared to the process of becoming a doctor. The training of a doctor is not only time and resource consuming; it also demands the right intellectual capability and tolerance for an individual to succeed in that profession (Crail, 2006). It is the interdependence of the three forms of capital that the pay as well as Marginal Revenue Product will be affected within and between different geographical locations. Likewise, the movement of any of the three types of capital among different countries will result into capital mobility which refers to the ease with which money can flow in and out of an economy or across various national borders. (Elmore, 2003). At this juncture, it is vital to explore the two major pathways through which the labour markets can determine pay. Both the microeconomic and macroeconomic elements of a labour market can determine how much employees are paid on labour offered. Both the individual employees and the specific firms themselves are believed to play their unique roles in shaping pay standards in the labour market (Ironside Seifert, 1995, pp. 38-44). The application of microeconomics in a labour market can be used to explain this relationship (Brown, 2009). A government can play momentous role in regulating the pay rate to workers at different levels. In order to achieve this type of regulation, a state can set up base lines for two types of pay namely the minimum and the living wage (Dennis, 2005, p.35).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In either case, periodic time standards within which certain pay rates should be implemented to workers are stipulate by a government. In United Kingdom, for instance, a National Minimum Wage Act was enforced way back in 1998 (Anker, 2006). Many other countries especially in the developed world have already adopted minimum wage standards for workers (Steifert, 1992). In some cases, a living wage has been embraced by some firms (Dennis, 2005, pp.29-33). There is need to distinguish between minimum wage and living wage as applied in various work environments. In most accepted and well documented statutory definitions, the term minimum wage is mainly applicable to labourers who are either skilled or semi-skilled. Different countries across the world have distinct minimum wage stipulations based on the economic performance as well as the cost and standards of living (Locke, Amengual Mangla, 2009). First, a living wage is primarily a basic pay awarded to workers so that they can be able to adequately meet their daily needs (Brown, 2009, pp.102-106). A living wage ensures that an individual is in a position to provide for basic needs and wants that are acceptable to the normal standard of living. For instance, a living age should be able to cater for food, education, healthcare as well as other expenses such as the cost of commuting. Most governments would demand companies and organisations to pay workers some minimum wage so that they can be in a position to foot various expenses even as they deliver their services on a day-to-day basis (Welfare, 2006). On the other hand, a minimum wage refers to a fixed pay stipulated by a government or other employee welfare agencies that employers are supposed to pay their workers. The authority charged with the duty of fixing a minimum wage must be legally instituted so that it can enforce its mandate through a legal pursuit especially in cases where employers flout regulations. This least amount of wage that may be awarded to workers can also be put in place by a formal agreement between the employer and other interested parties such as workers themselves or labour unions (Anker, 2006, p. 324). In addition, a minimum wage can affect either the whole state or a specific group of workers. Although most legal provisions on minimum wage are often binding to employee groups, there are certain occupations which may not be required to abide by these regulations. For example, employees in the service and agricultural sector in United States are exempted from the minimum wage conditions. Further, minimum wage varies from country to country (Anker, 2006, pp.316-319). On the same note, a commensurate wage may be paid to employees who have special physical or mental needs. This may still be classified as minimum wage payable to people with disabilities. It is imperative to note that each worker has a unique ability and performance at work regardless of the disability. Hence, the commensurate wage which acts as the minimum wage for the disabled may not be uniform across the board. Moreover, this wage is also dependent on the geographical setting and the status of the economy from which the workforce is derived (Lipsey Chrystal, 2007). The legal framework governing the living wage principally differs from those regulating minimum wage. One outstanding feature of a living wage is that in most cases, the coverage of its legality may affect only a small fraction of the workforce contrary to the minimum wage whose provisions affect a larger population. The living wage laws mostly affect specific group of workers in given organizations so that they can afford both basic and secondary needs (Ironside Seifert, 1995). In addition, a living wage is often used in some countries to calculate poverty index while the minimum wage cannot be used for such purposes. Hence, it goes without saying that the two types of wages are related but completely different from each other. In order to further create a viv id distinction between minimum wage and living wage, it is pertinent to investigate the effects brought about by both types of wages (Industrial Relations Services, 2002). In real practice, low income workers can practically benefit when the living wage is implemented at their place of work. In line with this, the urban poverty index can be lowered substantially whenever this ordinance is implemented, bearing in mind that it caters for a larger population of workers than the minimum wage (Koshiro, 1992). Although the typical low income earners are the beneficiaries of this type of wage, it may lead to lack of efficiency in companies during periods of recession In addition; firms which are still at their infancy stage may be unfavoured economically by the seemingly high spending on wages contrary to the revenue generated (Procter et al., 1993). Worse still, when minimum wage is followed to the letter, it has the potential to trigger inflation, which may usher in tough times for worke rs since their pay may be maintained to the minimal due to hard economic times (Adam, 2005, p.31). Therefore, as much as a government may determine workers’ pay through legal provisions as mentioned above, it may be not be a very strong and independent variable in wage setting compared the labour markets (Income data services, 2001). Notwithstanding state regulation on pay rates for employees, collective bargaining and agreements between workers and labour unions can curtail pay within the comfort of both the firm and workers. A firm is primarily defined as a business enterprise formulated to specifically supply goods and/or services to end users. It may be publicly or privately owned and its main purpose is revenue generation. There are myriad of labour theories that are integral to firms. For example, the concept that pay rates will differ across firms is expounded in classical view theory (Dennis, 2005). It elaborates that marginal productivity and pay rates will reflect e ach other since different firms have access to various amenities that results into variation in the amount paid to workers. According to the efficiency wage view, workers who are not duly supervised at workplace are more likely to be offered higher pay than those who are continually monitored. Moreover, pay variations across different firms is also occasioned by inequality in unionization rates according to the labour market theory. Modern policy debate on role of a firm in setting pay standards is largely dominated by the neo-classical theory of the firm. Wage equalization is a possible occurrence in any firm when this theory is applied in labour market. However, the theory can only work in an ideal market situation where several factors have been held constant. For instance, the theory requires a free or liberalized market (Egan, 2004). There should be no state regulation whatsoever. Market response by consumers should be self-driven and void of any statutory interference. The 191 6-1918 Whitley Committee proposed quite a number of recommendations that would seek to not only recognize labour unions but also strengthen their roles as part of building viable industrial relations. The principles adopted thereafter came to be known as Whitleyism (Steifert, 1992, pp.212-216). The fundamentals of extensive industrial bargaining were thereafter adopted. Since then, collective bargaining on workers’ pay has been done through trade unions. Indeed, Whitleyism has been very instrumental in setting up pay standards in various industries. The Annual Survey of Hours and Earnings (ASHE) is an important parameter that can be used in the determination of pay standards (Brown, 2009, p.12). This survey provides data on earnings make up as well as the hourly distribution relative to the pay levels of workers spread across various regions and job categories. Hence, the government can make use of ASHE in setting up the minimum wage in various industries. Events within a fir m can, in practice, lead to marked differences in wages. One cause for such differences is the organizational behavior of policy and decision makers running a firm. On the same note, a firm can adjust its worker wages due to market failures occasioned by external factors such as inflation and decline in demand. On the other hand, a worker may stand out in the labour market irrespective of the internal actions of decision makers within a firm (ACAS, 2011). Through human capital theory, an employee who has advanced education and training will likely receive higher wages than the colleagues who are not. Besides, an employee with a unique talent will be part of a non-competing group since it is impossible to train individuals to acquire the very talent. As a result, the employee will most likely stand a higher chance of receiving higher pay than others. When employees tend to defend the territory of their jobs, it is referred to as balkanization. They can achieve this by acquiring highe r qualifications or using gender, legal, race or cultural barriers. Over and above the aforementioned pay determinants in a firm, differences in wages may also result from working skills and experience gained by an employee. Workers with higher skills and better working experience are competitive in the labour market. Moreover, the nature of the responsibility or job description assigned to an employee by a firm will determine the pay rate. Lighter and more direct responsibilities will more likely attract meager pay from the labour market (Kessler Purcel, 1992). Furthermore, the effort needed to discharge a given responsibility is yet another consideration when setting wage standards within a firm. The aggregate pay will also be affected by the rate of unemployment. Realistically, the initial phase of most wage setting is bargaining. Thos may take place between the employer and employee or between a labour union and employer. In whichever case, the bargaining power of workers is ad versely affected and further weakened by higher unemployment index. Workers are compelled to accept lower pay since the labour market is saturated with job seekers. As a consequence, firms will pay remunerate their workers poorly by taking advantage of the situation (Adam, 2005, pp.32-33). Worse still, the contracted workers will be willing and ready to work in spite of the lower pay since they do not have any alternative. According to ACAS definition, job evaluation refers to how much a particular job is worth within workplace (Egan, 2004, pp.9-10). It is a consistent approach whereby a ranking process is used to categorise various jobs based on the relative demand placed on a particular job by an employee. Hence, job evaluation assists in setting up a benchmark for a grading structure that is not only orderly but also fair enough. Moreover, the job evaluation procedure permits the selection of benchmarks whereby individual jobs are ranked in terms of their relative value. In order to carry out an effective job evaluation, a factor plan is necessary. These are components that are necessary when evaluating jobs. When job evaluation is implemented to the letter, it is possible to set up benchmarks that can be used to determine pay (Egan, 2004, pp.12-13). For instance, the relative value attached to a given job can be used to set up pay standards since it is both a system and structure used to determine pay. In summing up, it is imperative to reiterate that the extent to which labour market determines pay can only be evaluated when other market forces such as state regulation and internal firm mechanics are analysed. The labour market is in itself a derived demand since the process of production cannot take off without its inclusion. Besides, profitability of a firm is a direct function of labour. Hence, whenever a firm requires additional labour, the Marginal Revenue Product and the Marginal Cost ought to be compared. When the two components are balanced, then a firm can no longer hire additional employees. These are strong labour market imperatives that can explain why the labour market is a major pay determinant. On the other hand, a government can set up the minimum wage for workers within different categories. Hiring firms are then supposed to comply with the pay standards according to the set laws. A case example is the United Kingdom which enacted the National Minimum Wage for its citizens. In some cases, governments and individual firms may set a living wage for a certain segment of workers. Finally, determination of pay can be effected by a firm. For example, the decision making organ of a firm may opt to set pay standard that is consistent with the goals and objectives of the firm. Besides, the level of experience, skills and competences can elevate the wage level of a worker. Moreover, the application of the human capital theory whereby a worker has undergone further education and training may also determine the pay standard for that employee. Meanwhile, out of the three elements, the labour market remains to be the one single most determining factor when setting up wage standards. References Adam, G. (2005). Pay 4 performances at Yorkshire Water, IRS employment review, 833: 31-35. ACAS (2011). â€Å"Job evaluation: considerations and risks†. Retrieved from http://www.acas.org.uk/CHttpHandler.ashx?id=922p=0 Anker, R. (2006). Living wages around the world: A new methodology and internationally comparable estimates, Imitational Labour Review, 145(4): 309- 337. Attwood, S. (2005). â€Å"Building a Reward strategy†, IRS Employment Review, 823: 31- 35. Baumol, J.W. Blinder, A.S. (2007). â€Å"Microeconomics: Principles and Policy†, Oxon: Thomson-Southwestern. Brown, A.W. (2009). â€Å"The process of fixing the British national minimum wage, 1997- 2007†, Cambridge: University of Cambridge Press. Crail, M. (2006). â€Å"All Human Life is here†, IRS Employment Review, 855: 19-21 . Dennis, S. (2005). â€Å"The national minimum wage stamping out low pay†, Employment Review, (816): 29-36. Egan, J. (2004). â€Å"Putting job evaluation to work: tips from the frontline†, Employment Review, (792): 8-15. Elmore, A. (2003). Living Wage Laws and Communities; Smarter Academic Development, Lower Than Expected Costs. New York: Brennan Center for Justice, New York University. Income data services (2001). â€Å"Case studies†, IDS studies, 7(05): 8-18. Industrial Relations Services (2002). â€Å"Public sector pay in 2002/03†, IBS employment Review (766): 17-26. Ironside, M. Seifert, R. (1995). â€Å"Pay and pay determination†, Industrial relations in schools, 20-72. Kessler, R. Purcel, J. (1992). â€Å"Performance related pay objectives and application†, Human resource management Journal, 2(3): 16-33. Koshiro, K. (1992). â€Å"Employment security and labor market flexibility: an international perspective†, Detroit: Wayne S tate University Press. Lipsey, G.R. Chrystal, A.K. (2007). â€Å"Economics† (11th ed.), New York: Oxford University Press. Locke, R., Amengual, M. Mangla, A. (2009). â€Å"Virtue out of Necessity? Compliance, Commitment and the Improvement of Labour Conditions in Global Supply Chains†, Politics and Society, 37 (37): 319–351. Procter, S. et al. (1993). â€Å"Performance related pay in operation: A case study from the electronics industry†, Human resource management journal 3(4): 60-74. Steifert, R. (1992). â€Å"Whitley and the survival of collective bargaining, Industrial relations in the NHS†, 198-255. Weil, D. Mallo, C. (2007). â€Å"Regulating labour standards via supply chains: Combining public/private interventions to improve workplace compliance†, British Journal of Industrial Relations, 45(4): 791–814. Welfare, S. (2006). â€Å"Rewarding achievement through bonus schemes†, IRS employment Review, (857): 33-35. White, G . (2002). â€Å"The pay review body system†, Historical studies in industrial relations, (9): 71-100. This essay on The labour market influence in the determination of pay was written and submitted by user Alberto Sloan to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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Geographic Information About the Country of Peru

Geographic Information About the Country of Peru Population: 31.77 million (2016 estimate)Capital: LimaBordering Countries: Bolivia, Brazil, Chile, Colombia and EcuadorArea: 496,224 square miles (1,285,216 sq km)Coastline: 1,500 miles (2,414 km)Highest Point: Nevado Huascaran at 22,205 feet (6,768 m)Peru is a country located on the western side of South America between Chile and Ecuador. It also shares borders with Bolivia, Brazil and Colombia and has a coastline along the South Pacific Ocean. Peru is the fifth most populous country in Latin America and it is known for its ancient history, varied topography and multiethnic population. History of Peru Peru has a long history that dates back to the Norte Chico civilization and the Inca Empire. Europeans did not arrive in Peru until 1531 when the Spanish landed on the territory and discovered the Inca civilization. At that time, the Inca Empire was centered in what is present-day Cuzco but it stretched from northern Ecuador to central Chile (U.S. Department of State). In the early 1530s Spains Francisco Pizarro began searching the area for wealth and by 1533 had taken over Cuzco. In 1535 Pizarro founded Lima and in 1542 a viceroyalty was established there that gave the city control over all Spanish colonies in the region.Spanish control of Peru lasted until the early 1800s at which time Jose de San Martin and Simon Bolivar began a push for independence. On July 28, 1821, San Martin declared Peru independent and in 1824 it achieved partial independence. Spain fully recognized Peru as independent in 1879. Following its independence, there were several territorial disputes between Peru and neighboring countries. These conflicts eventually led to the War of the Pacific from 1879 to 1883 as well as several clashes in the early 1900s. In 1929 Peru and Chile drafted an agreement on where the borders would be, however it was not fully implemented until 1999 and there are still disagreements about maritime boundaries.Beginning in the 1960s, social instability led to a period of military rule that lasted from 1968 to 1980. Military rule began to end when General Juan Velasco Alvarado was replaced by General Francisco Morales Bermudez in 1975 due to poor health and problems managing Peru. Bermudez eventually worked at returning Peru to a democracy by allowing a new constitution and elections in May 1980. At that time President Belaunde Terry was re-elected (he was overthrown in 1968).Despite its return to democracy, Peru suffered severe instability in the 1980s due to economic problems. From 1982 to 1983 El Nino caused flooding, drought and destroyed the countrys fishing industry. In addition, two terrorist groups, Sendero Luminoso and the Tupac Amaru Revolutionary Movement, emerged and caused chaos in much of the country. In 1985 Alan Garcia Perez was elected president and economic mismanagement followed, further devastating Perus economy from 1988 to 1990.In 1990 Alberto Fujimori was elected president and he made several large changes in the government throughout the 1990s. Instability continued and in 2000 Fujimori resigned from office after several political scandals. In 2001 Alejandro Toledo took office and put Peru on track to return to democracy. In 2006 Alan Garcia Perez again became Perus president and since then the countrys economy and stability have rebounded. Government of Peru Today Perus government is considered a constitutional republic. It has an executive branch of government that is made up of a chief of state and a head of government (both of which are filled by the president) and a unicameral Congress of the Republic of Peru for its legislative branch. Perus judicial branch consists of the Supreme Court of Justice. Peru is divided into 25 regions for local administration. Economics and Land Use in Peru Since 2006 Perus economy has been on the rebound. It is also known as being varied due to the varied landscape within the country. For example, certain areas are known for fishing, while others feature abundant mineral resources. The main industries in Peru are mining and refining of minerals, steel, metal fabrication, petroleum extraction and refining, natural gas and natural gas liquefaction, fishing, cement, textiles, clothing and food processing. Agriculture is also a major part of Perus economy and the main products are asparagus, coffee, cocoa, cotton, sugarcane, rice, potatoes, corn, plantains, grapes, oranges, pineapples, guava, bananas, apples, lemons, pears, tomatoes, mango, barley, palm oil, marigold, onion, wheat, beans, poultry, beef, dairy products, fish and guinea pigs. Geography and Climate of Peru Peru is located in the western part of South America just below the equator. It has a varied topography that consists of a coastal plain in the west, high rugged mountains in its center (the Andes) and a lowland jungle in the east that leads into the Amazon River basin. The highest point in Peru is Nevado Huascaran at 22,205 feet (6,768 m).The climate of Peru varies based on the landscape but it is mostly tropical in the east, desert in the west and temperate in the Andes. Lima, which is located on the coast, has an average February high temperature of 80˚F (26.5˚C) and an August low of 58˚F (14˚C).​ReferencesCentral Intelligence Agency. (15 June 2011). CIA - The World Factbook - Peru. Retrieved from: https://www.cia.gov/library/publications/the-world-factbook/geos/pe.htmlInfoplease.com. (n.d.). Peru: History, Geography, Government, and Culture- Infoplease.com. Retrieved from: infoplease.com/ipa/A0107883.htmlUnited States Department of State. (30 September 2010). P eru. Retrieved from: state.gov/r/pa/ei/bgn/35762.htmWikipedia.org. (20 June 2011). Peru - Wikipedia, the Free Encyclopedia. Retrieved from: http://en.wikipedia.org/wiki/Peru

How to Format APA Citations

How to Format APA Citations How to Format APA Citations APA referencing – developed by the American Psychological Association – is used to cite sources in academic writing. But how does this system work? In this post, we take a look at APA citations, how to quote sources, and a few variations of the basic citation format you may need to know. 1. Basic APA Citations APA uses author–date citations (a form of parenthetical referencing). This means you cite a source by giving the surname of its author and the date of its publication in brackets: Many people use APA citations (Schreiber, 2001). As shown above, APA citations place a comma between the author’s name and the year. If the author is already named in the text, meanwhile, you only need to give the year in brackets: Schreiber (2001) states that many people use APA citations. This is the basic APA citation format for all sources with a single author. 2. Sources with More than One Author For sources with two authors, include both surnames in citations. The names should be joined by an ampersand if they are cited in brackets, but not when they appear in the main text: Two is company (Schreiber Harkin, 2011). According to Schreiber and Harkin (2011), two is company. When a source has three to five authors, the format is the same as above for the first citation. For instance: Three is a crowd (Schreiber, Harkin, Murray Ptaszynski, 2014). However, if you were to cite the same source again, you would use the first name plus â€Å"et al.† to prevent repetition. For example: Nobody yet knows what comes after a crowd (Schreiber et al., 2014). For sources with more than five authors, meanwhile, you should cite the first named author plus â€Å"et al.† in all citations, including the first one (full author information is still given in the reference list). 3. Organizational Authors Some sources, such as the website of a business, won’t have a named individual as an author. When this occurs, you can name a company or organization as the author: Missing citations can affect your grades (Proofed, 2018). This is known as citing an â€Å"organizational author.† If there is no organizational author available either, though, you may have to give the title of the source in the citation instead of an author. 4. Quoting Sources If you are quoting a source, you need to give a pinpoint citation. This means citing the page number(s) of the quoted passage: It is important to â€Å"provide evidence in essays† (Schreiber, 2001, p. 24). As shown above, you should give the page number(s) after a comma and â€Å"p.† when the author’s name is part of the citation. However, you should cite the page number separately when the author has been named in the text instead: Schreiber (2001) says we must â€Å"provide evidence in essays† (p. 24). The key is that page numbers always appear after the quotation. 5. Audiovisual Sources If you want to quote an audiovisual source, you need to cite a timestamp: The interviewee claimed that â€Å"video is the future† (Harkin, 2017, 21:34). Here, for example, the â€Å"21:34† in the citation shows that the quote comes from 21 minutes and 34 seconds into the recording. This replaces the page numbers cited when quoting a print source. 6. Multiple Sources in One Citation You can, if required, cite more than one source in a single set of brackets. All you need to do is place a semicolon between the citations, which should be ordered alphabetically by author surname: There is strong agreement on this issue among experts (Harkin, 2001; Ptaszynski, 1998; Schreiber, 2010). Citing more than one source at the same time like this can be useful if you need to show that multiple sources support the same argument. 7. Multiple Sources by the Same Author from the Same Year For most sources, the author’s surname and year of publication will be enough for the reader to find it in the reference list. However, if you are citing more than one source by the same author from the same year, you will need to provide extra information to help the reader. APA referencing does this by placing a letter after the year of publication: Publishing success can vary by year (Harkin, 2001a). Some years may see an author release multiple works, whereas other years may see them publish nothing at all (Harkin, 2001b). Here, we have two sources by Harkin from 2001. As such, we label these â€Å"2001a† and â€Å"2001b† in citations and in the reference list so readers can tell which citation points to which source. The letter used depends on the position of the source in the reference list, with sources from the same year ordered alphabetically by title. So, if we have two sources by Harkin from 2001, one called Analyzing APA and another called Myths of Referencing, the former would come first in the reference list and be cited as ‘2001a’, while the latter would come second and be cited as â€Å"2001b.† 8. More than One Author with the Same Surname Finally, if you cite separate sources by two authors who happen to have the same surname, you should add a first initial to citations so that your reader can tell them apart: Some surnames are very common (A. Smith, 1984). This can lead to confusion between people with the same surname (B. Smith, 2004). Adding this initial will help readers find the sources in your reference list.

Critically discuss the view that the Cournot, Bertrand and Stackelberg Essay

Critically discuss the view that the Cournot, Bertrand and Stackelberg models of oligopoly are fundamentally flawed and are unable to explain recent events in the markets and industries - Essay Example It is a common practice for firms in an oligopoly market to collude in setting up prices with an intention of mitigating the risks that arises in the particular market. However, most of the alliances formed are outlawed in most countries given that they short-change customers because of the less competition that they have unlike in other markets such a perfect competition environment (Vives, 1999). Models developed by three scholars try to explain the concept of an oligopoly market. The Cournot, Bertrand and Stacklerg models are used to explain the theory of oligopoly. The Game theory is widely applied by three models to analyse the market critically under consideration (GineviÄ ius and Krivka, 2008). In a Cournot oligopoly, business entities compete on the basis of production levels. They determine the volume of products they are supposed to produce separately within a specified period. The main assumption made in a Cournot oligopoly is that the core business activity of a business entity is profit maximization. It assumes that the decision of determining the volume level is independent. Furthermore, it is assumed that all players in the market are aware of the cost function and the number of players that exist in the market. However, the cost function may vary from one organization to another (Giocoli, 2003). Some of the implication of the assumptions made in Cournot model is that the production level in the market is likely to be less compared to that of other markets such as the perfect competition market (Kopel and Là ¶ffler, 2008). Additionally, the prices in a Cournot oligopoly are lower compared to those of other markets. Conversely, given the nature of the market, formation of firms are likely to form cartels. Consequently, the model can be transformed to become similar to that of a monopoly market (Day et al., 2002). Cournot models assume firms

Ben and jerry study case Example | Topics and Well Written Essays - 500 words

Ben and jerry - Case Study Example Also, it failed in increasing average return on shareholders’ equity. From 5% in 1997, it had reached till the case writing to 9%, which was not a big leap forward on the shareholders’ money. 2. Do you think that, in general, it is possible for a for-profit company to be committed to â€Å"improve the quality of life of a broad community† and still maximize shareholder value? Why or why not? It is possible for a for-profit company to remain dedicated to the community cause and at the same time record high earnings for the shareholders. Off late social issues of the communities where corporations have their offices have become relevant enough to provide a brand name and image to a company that promises to offer intangible value to the surrounding communities. This intangible value appreciates in time and changes into tangible results later when public at large prefers investing in its shares because of the earned reputation from the social work done to improve the standard of life of the surrounding communities. If I were Henry Morgan, I would recommend the Board to accept the offer made by Unilever. Unilever is the only company that is offering shareholders’ $36 in cash for each share. Offering shareholders the cash return for their investments in Ben $ Jerry’s provides them freedom of investing in any other company. Another company, Meadowbrook Lane is offering $32, which is less in value to the offer made by Unilever. Other than that the proposal made by Unilever offers to include some select members of B&J management in the integrated division of Unilever’s frozen desserts. A conflict of interests arises over Unilever’s proposal to limit social commitments and interests, but this is the same in the proposals of Meadowbrook Lane and Dreyer’s Grand. 4. If you are thinking about starting a new business, would social consciousness be a consideration for you? Was there anything you learned in

The Woman Who Fathered Me: A Caribbean Womans Role in the Family Essay

The Woman Who Fathered Me: A Caribbean Woman's Role in the Family Female children born into low income families in Jamaica and other islands of the Caribbean are burdened with a stereotype that their male counterparts will never know. When faced with the gender oppression their society has constantly been feeding, and the fact that so many women must act as the single financial heads of their families, many women of the Caribbean must settle for low paying occupations associated with 'female' or domestic labor. For women born into families at the bottom of the economic ladder, there is little hope of social mobility or escape from the fist of poverty. In most cases, the cycle continues to feed itself from mother to daughter. In my paper I will demonstrate this cycÀle by examining the Caribbean women's role in the family as head of the household and the education, employment and survival strategies characteristic to many of these women. I will conclude my paper by discussing some of the new organizations and movements that have surfaced in the C aribbean within the past thirty years that are fighting for women's empowerment. In his highly acclaimed novel In the Castle of My Skin, which he dedicates to his mother, in chapter three George Lamming eloquently describes what is actually a common scene among islands of the Caribbean: women gathered together in a common yard for the purpose of gossip. While it may seem to be an insignificant event, in a region where the responsibilities involved in raising a family fall mainly on women's shoulders, their bond with each other is essential. Miss Foster. My mother. Bob's mother. It seemed they were three pieces in a pattern which remained constant. Miss Foster had six children, th... .... 1998. 3. Ellis, Pat. Women of the Caribbean. New Jersey: Zeb Books Ltd., 1986. 4. Haniff, Nesha Z. Blaze a Fire. Toronto: Sister Vision, 1988. 5. Lamming, George. In the Castle of My Skin. USA: University of Michigan Press, 1991. 6. Massiah, Joycelin. omen as Heads of Households in the Caribbean: family structures and feminine status. Colchester: Unesco, 1983. 7. Senior, Olive. Working Miricles: Women's Lives in the English-speaking Caribbean. London: James Currey Ltd, 1991. 8. Shepherd, Verene. Engendering History: Caribbean Women in Historical Perspective. New York: St. Martin's Press, 1995. 9. Walker, Susan."Rastafarian Women Speak Out"The Toronto Star 12 Aug. 1994: Pg. D12. 10. Yawney, Carole D. Moving with the dawtas of Rastafari: from myth to reality. pgs. 15--23; 33--55; and 65--73. (excerpts from Teresa Turner's New Society.)

A List of Famous Short Stories

Some books are to be tasted, others to be swallowed, and some few to be chewed and digested: that is, some books are to be read only in parts, others to be read, but not curiously, and some few to be read wholly, and with diligence and attention. ~ Sir Francis Bacon A LIST OF FAMOUS SHORT STORIES Famous short story writers are Edgar Allan Poe, Guy de Maupassant, Anton Chekov and O Henry. Some of these authors have gained much fame and recognition in the literary world entirely through their brilliant narrative of short stories while some of them like Charles Dickens, P. G.Woodehouse and Rudyard Kipling are highly accomplished in the fields of writing short stories and novels. Short stories are actually more difficult to write as it revolves around a single incident and it has to have the ability of captivating the reader. Because of its length a short story cannot be rambling or dealing with detailed descriptions. Whatever the plot maybe, the elements of a short story are clear and c omprehensive while the ending of most famous short stories are abrupt and dramatic with a twist at the end. Here is a list of famous short stories. Famous Short Stories About LoveHere is a list of famous short stories About love. †¢ Antony and Cleopatra ~ William Shakespeare †¢ About Love ~ Anton Chekov †¢ The Thing's The Play ~ O. Henry †¢ An Imaginative Woman ~ Thomas Hardy †¢ Old Ghosts ~ A. J. McKenna †¢ Return to Paradise ~ Anton Chekov †¢ Blues in the Night ~ Jennifer Jenkinson †¢ The Three Letters ~ Nels Schifano †¢ Gift of the Magi ~ O. Henry †¢ Scarlet Stockings ~ Louisa May Alcott †¢ A Lickpenny Lover ~ O. Henry †¢ Love ~ Anton Chekov †¢ Some Ways of Love ~ Charlotte Mew †¢ The Love Quarrel ~ Agnes Strickland Famous Short Stories for High SchoolHere is a list of world famous short stories that can be read by high school students. †¢ The Purloined Letter ~ Edgar Allen Poe †¢ A Piece of String ~ Guy de Mauppasant †¢ The First Miracle ~ Jeffrey Archer †¢ The Five Orange Pips ~ Arthur Conan Doyle †¢ A Deception ~ Mark Twain †¢ The Gentleman Dressed in Newspaper ~ Agatha Christie †¢ The Minister's Black Veil ~ Nathaneil Hawthorne †¢ The Third and Final Continent ~ Jhumpa Lahiri †¢ The Man Who Would Be King ~ Rudyard Kipling †¢ Providence and the Guitar ~ R. L. Stevenson †¢ An Affair of State ~ Guy de Maupassant †¢ The Girls in Their Summer Dresses ~ Irwin ShawList of Famous Short Stories Here is a list of some of the most loved and famous short stories of all time. †¢ A Matter of Sentiment ~ Saki †¢ The Stolen Bacillus ~ H. G. Wells †¢ The Chinese Statue ~ Jeffrey Archer †¢ The Devil in the Churchyard ~ A. E. Coppard †¢ The Affair of the Pink Pearl ~ Agatha Christie †¢ Twice-Told Tales ~ Nathaniel Hawthorne's †¢ Ward No. 6 ~ Anton Chekhov †¢ Going to Meet the Man ~ James Baldwin †¢ T he Wisdom of Solomon ~ Jeffrey Archer †¢ The Musgrave Ritual Arthur ~ Conan Doyle †¢ Rip van Winkle ~ Washington Irving †¢ The Things They Carried ~ Tim O’Brien Strange Case of Dr. Jekyll and Mr. Hyde ~ R. L. Stevenson †¢ The Lottery ~ Shirley Jackson †¢ The Enormous Radio ~ John Cheever †¢ In the Eye of the Beholder ~ Jeffrey Archer†¢ Earth Is Room Enough ~ Isaac Asimov †¢ A Legend of Old Egypt ~ Boleslaw Prus †¢ An Ordinary Soldier of the Queen ~ Graham Joyce †¢ Monday or Tuesday ~ Virginia Woolf †¢ Nobody's Business ~ Jhumpa Lahiri †¢ Everything That Rises Must Converge ~ Flannery O Connor †¢ The Room ~ William Trevor †¢ The Man in the Black Suit ~ Stephen King †¢ The Eleventh Edition ~ Leo E. Litwak †¢ Errand ~ Raymond Carver †¢ Lily ~ Jane Smiley The Coming-Out of Maggie ~ O. Henry †¢ Four and Twenty Blackbirds ~ Agatha Christie †¢ Afterward ~ Edith Wharton †¢ The Ambitiou s Guest ~ Nathaniel Hawthorne †¢ Araby ~ James Joyce †¢ The Tell-Tale Heart ~ Edgar Allan Poe †¢ The Rajah's Emerald ~ Agatha Christie †¢ The Thousand-And-Second Tale of Scheherazade ~ Edgar Allan Poe †¢ Timbuctoo ~ Guy de Maupassant †¢ The End of the Party ~ Graham Greene †¢ The Wreck ~ Guy de Maupassant †¢ The Great Carbuncle ~ Nathaniel Hawthorne †¢ The Theft of the Royal Ruby ~ Agatha Christie †¢ Hunters in the Snow ~ Tobias Wolff †¢ The Best Sauce ~ P. G. Wodehouse The Calash ~ Gogol †¢ Markheim ~ Robert Louis Stevenson †¢ Lamb to the Slaughter ~ Roald Dahl †¢ The Last Leaf ~ O. Henry†¢ The Lottery Ticket ~ Anton Chekhov †¢ The Door in the Wall ~ H. G. Wells †¢ The Baron of Grogzwig ~ Charles Dickens †¢ The Open Window ~ Saki †¢ Rocking-Horse Winner ~ D. H. Lawrence †¢ The Ransom of Red Chief ~ O. Henry †¢ The Dressmaker's Doll ~ Agatha Christie †¢ Rappaccini's Daughter ~ Nathaniel Hawthorne †¢ The Storyteller ~ Saki †¢ Stranger ~ Katherine Mansfield †¢ The Private History of a Campaign That Failed ~ Mark Twain †¢ A Small, Good Thing ~ Raymond Carver A Silver Dish ~ Saul Bellow †¢ The Cask of Amontillado ~ Edgar Allan Poe †¢ A Burlesque Biography ~ Mark Twain †¢ The Boarded Window ~ Ambrose Bierce †¢ The Kugelmass Episode ~ Woody Allen †¢ The Case of the Perfect Maid ~ Agatha Christie †¢ The Girl Who Sang with the Beatles ~ Robert Hemingway †¢ Hall The Ledge ~ Lawrence Sargent †¢ In Sickness as in Health ~ Martha Gellhorn †¢ The Blue-Winged Teal ~ Wallace Stegner †¢ Man and Wife ~ Katie Chase †¢ One Night Stand ~ Jeffrey Archer †¢ Miss Marple Tells a Story ~ Agatha Christie †¢ An Eye for an Eye ~ Jeffrey Archer