U.S. history Apex 7.1.3 Final Exam - 2072 Words

7.1.3 Final Exam: U.S. History Sem 1 Test U.S. History Sem 1 (2010) (S1400659) Date: ____________ Course Big Question: How did people from America, Europe, and Africa come together, and what sort of nation did they build? Section 1: Short Answer (60 points) In this section, you will show your knowledge of the content by constructing a three-paragraph essay. Remember to use examples from this unit, be specific, and follow proper paragraph- and essay-writing conventions. A. Explain how Texas became an American state. (1 point each, 6 points total) Why did Americans settle in the Mexican territory of Texas? Mexico offered free land to the Americans that Migrated to the Mexican territory, The Mexican†¦show more content†¦How did judicial review become an important part of the American court system? (2 points) The Marbury vs. Madison case in the 1800’s. Compulsory enrollment, especially for the armed forces; draft.A monetary payment exacted by a government in wartime. E. Choose five of the following terms and give a brief definition of each. (2 points each, 10 total) Choose from the following: black codes — Common Sense — Free-Soilers — maroon colonies — military draft — peculiar institution — push factor — sharecropping — Sons of Liberty — temperance 1: Black Codes: A body of laws, statutes, and rules enacted by southern states immediately after the Civil War to regain control over the freed slaves, maintain white supremacy, and ensure the continued supply of cheap labor. 2: Free Soil Party: a short-lived political party in the United States active in the 1848 and 1852 presidential elections, and in some state elections. 3: Military draft: Compulsory enrollment, especially for the armed forces; a monetary payment exacted by a government in wartime. 4: Push factor: Push factors are things that are unfavorable about the area that one lives in. 5: Sons of Liberty: The Sons of Liberty is an organization of American patriots that originated in the North American British colonies. The group was formed to protect the rights of the colonists and to take to the streets against the abuses of

Principles and goals A European lender of last resort Free Essays

Introduction Financial crisis management in the single financial market of the European Union is a subject which is required attention. As one of the key objectives of the political, economic, monetary and legal integration of the EU’s 25 member states, the single financial market is becoming a reality with the increased integration of national financial systems. While EU market liquidity and efficiency are no doubt improving, financial disturbances are now more likely to affect more than one member state. We will write a custom essay sample on Principles and goals: A European lender of last resort? or any similar topic only for you Order Now Furthermore, while European national financial systems are becoming systemically integrated, the EU’s financial-stability structure is still based primarily on the exercise of national responsibilities. The most important question we can set at this time is: Are these national responsibilities capable to solve cross-border financial disturbances? The recent crises thus have brought the role of a European lender of last resort, which raises some important questions. Do we need a European lender of last resortCould domestic central banks instead perform this role, as is the traditional view Then how should the European Lender of Last Resort operateWhat are the principles that should follow the European lender of last resort if it is to be effective Who should be the European lender of last resortShould the ECB do it and if so, does it need to be reformed to perform this role effectively. Alternatively, should another organization take the role of one European lender of last resort? The importance of Lender of last resort and its principles. Firstly as a crucial benchmark we will discuss the alternative views of a lender of last resort. Under the classical view of Thornton and Bagehot the monetary authority in the face of a panic should lend freely but at penalty rate to illiquid but only solvent banks, denying aid to insolvent banks no matter how large or important. The banking panic occurs when the public want to convert deposits into currency. When a bank does not have adequate liquidity there is a bank run which in turn become contagious, under asymmetry information, threatening other solvent and sound banks. Bagehot stated four principles for the bank to observe as a lender of last resort to the monetary system: First, lend at a penalty rate, make clear Bank’s readiness to lend freely, the latter principle shows the importance to prevent financial crises at the beginning of a disturbance, and lastly accommodate anyone with good collateral at a pre-panic prices and prevent illiquid but solvent banks from failing but as Meltzer argues not to take greater risks. Goodfriend and King argue that the lender of last resort should function under an open market operation. Goodfriend regards governments provided deposit insurance as a substitute for the portfolio diversification of a nationwide branch banking system. By itself, deposit insurance without a lender of last resort commitment to provided high powered money in times of distress is insufficient to protect the banking system. Charles Goodhart advocates temporary central bank assistance to insolvent banks. He argues that the distinction between illiquidity and insolvency is a myth since banks requiring lender of last resort support because of illiquidity will in most cases already be under suspicion about solvency. As Solow also argues, any bank failure, especially a large one, reduces confidence in the whole system. To prevent the latter the central bank should provide assistance to insolvent banks as well. However such a policy creates a moral hazard problem as banks take greater risk and public do not have an incentive to monitor them. Last view of lender of last resort is the free banking. Its proponents denied the need of any government authority. The reason of banking panics is legal restrictions on the banking system. The most important restrictions are the prohibition of nationwide branch banking and the prohibition of free currency issue by the commercial banking system. As referred above, an adequate liquidity in one bank can cause bank run. If the interbank market not be able to shield banks from such an occurrence, a single bank run can spread to other banks and the contagious effect would take place, and may cause a systemic banking crisis. The provision of emergency liquidity by the central bank, as a lender of last resort may protect banks against these incidents. While the central banks of most countries act as a lender of last resort, the European Union treaty has left the identity of Lender of last resort open in the EMU. Asymmetric information plays a crucial role in the financial banking system. In financial crises leads to disastrous consequences for the economy as it makes the situation worse. At this point central banks should intervened preventing systemic risk. In most developed countries, domestic central banks have the ability to act as a lender of last resort and lend freely during a financial crisis. The key features are that the institutional structure of financial systems has debt contracts that there are almost solely denominated in domestic currency. Conversely the central banks of developing countries do not have this capability and if they have is limited. Many developing countries have much of their debt denominated in foreign currency. Thus, there is a strong argument that a lender of last resort may play a crucial role in most developing countries at times of financial crises. Although there is a need of one European lender of last resort, it does create a serious moral hazard problem that may worsen financial crises. Thus a recovery from a financial crisis in a developing country is required foreign assistance which would help to stabilize the value of the domestic currency which strengthens domestic balance sheets. Furthermore there is a case that one developing country contagious financial crisis to another developing country. However a European lender of last resort has the ability to stop contagion by providing reserves to these markets and help them keep their currencies unaffected. Recent problem of such kind of example is the case of Greece where IMF provides reserves to help avoid failure and reduce the possibility to contagious other countries in Europe. The existence of a European lender of last resort creates a moral hazard problem because depositors and other creditors do not have an incentive to monitor banks that is, they know if a crisis occurs their deposits would be secured by deposit insurance system. As a result these banks without monitoring and withdrawals from depositors encouraged to take excessive risks which make financial crises more likely. Thus to limit the moral hazard problem by a European lender of last resort and help it cope with financial crises more effectively, we introduce some ways for the European lender of last resort to operates better. First and the most important, is restore confidence to the financial system. Without confidence depositors would withdraw their funds if they suppose that their bank is illiquid even though it is not. Some rumors transfer the bank run from one illiquid bank to the whole system and distress financial economy. Restoring confidence is essential to keeping the financial system operating efficiently. That is the key to preventing financial crisis. Provide liquidity to restart the financial system. Injecting liquidity is effective if we provide liquidity as fast as possible. The faster the lending, the lower is the amount that has to be lent. The need for quick provision of liquidity to keep the amount of funds manageable suggests that credit facilities at a European lender of last resort must be designed to provide funds quickly. Also the resolution and recovery from a financial crisis requires a restoration of the balance sheets of both financial and non-financial firms. The latter requires a well functioning bankruptcy law that enables balance sheets to be clean up so they can regain access to credit markets. Those insolvent institutions should close down and other healthy firms buy the assets of insolvent firms. Furthermore, owners of insolvent institutions should be punished because in any developing countries, they are provided with funds which enable the operation of their institution or to pocket substantial wealth. If they know that will be punished they do not keep their institution operating if it is insolvent. Thus will reduce the excessive risk and even further in reducing moral hazard. Moreover encourage adequate prudential supervision. The moral hazard problem created by the existence of a safety net for financial institutions also can be limited by the usual elements of a well-functioning prudential regulatory/supervisory system: adequate disclosure requirements, adequate capital standards, prompt corrective action, careful monitoring of risk the institution’s risk management procedures and monitoring of financial institutions to enforce compliance with the regulations. Another way for better operation is that we can engage operations only for countries that are truly willing to implement the necessary reforms. If a country reforms in accordance with the principles of the lender of last resort, that will make the effort from lender of last resort easier in times of financial crisis in such a country. Lastly, it is better for moral hazard problem, that lender of last resort operates only when it is absolutely necessary and for shorter periods of time. The European lender of last resort? Given that there is a need for a European lender of last resort, what institution would be the best to perform this roleTraditionally, central banks have acted as lenders of last resort because they have the advantage of being able to create the necessary liquidity. In addition, they have had experience with successfully performing this role. These facts would argue for the creation of a European central bank to act as a European lender of last resort. However, because it is highly unlikely that the major countries of theEuropewould be willing to give up control of monetary policy to a European organization to the future, creation of a European central bank is unrealistic. The matter of the lender of last resort is a major concern in the construction of European Union. In spite of the existence of appropriate mechanisms to rescue distressed financial institutions in each country, the existing institutions do not allow for coordinate responses from different countries or a fast and efficient coordination between the European Central Bank (ECB) and the different national central banks. The financial integration inEuropeis still low. In the recent past, however, multinational banking group have emerged (subsidiaries, mergers, acquisitions, branches) in Europe which provide wholesale services in more than one member state. These Pan-European banking groups play an active role on European money markets and provide liquidity to smaller banks in the interbank market. Also funds can shifted from one branch to another, so a liquidity shock in one money market will withdraw liquidity there and transfer funds for one market that is liquid. As a consequence, this leads to systemic implications as there is pressure in the latter market since local national central bank act as a lender of last resort. From the above anyone can choose any money market to withdraw funds, so here the question raised is which central bank act as a lender of last resort and on what terms. Without a European lender of last resort, the national central banks where these multinational banking parents groups are established and operated meets the liquidity needs of the whole group. This would bear the full credit risk. To handle a possible failure of such a pan-European banking group they established (Nordic countries) a structure for crisis management and agreed that in a crisis emergency liquid assistance will only be provided if the bank is not judged to be insolvent. Of course this kind of management, we cannot be sure that would be viable in the European Monetary Union. There is a need for a European lender of last resort function in case of failures of multinational banks. It may prevent too excessive interventionism by national central banks. The need of one European lender of last resort is necessary to control financial services of commercial banks, so the latter do not take higher risks and affect other commercial banks. The ECB does not specify who is responsible for emergency liquid assistance in a financial crisis, it has delegated this to the national central banks but can intervene if is necessary. Of course this may cause delays in decision making, and this is one of the main principles of the role of lender of last resort, which is to act as soon as possible in financial crisis. While the ECB can act as a European lender of last resort at any time, why it does not have a centralized lender of last resort or centralizes regulations yetOne possible answer is that the centralization of bank regulation and lender of last resort involves costs for national central banks as they lose flexibility in policy design. So the only reason that national central banks resign from these tasks the benefits should be higher than the costs. It is very difficult to achieve this goal because it has to be voted by the two thirds in the Governing council of ECB. The only international organization that currently has the staff to acquire the necessary information to be the model for a similar creation of one European lender of last resort is the International Monetary Fund (IMF). However some reforms to function better as a lender of last resort is required. This is why, it has ended up engaging in this role during the recent crisis episodes. One objection to the IMF’s performing a lender of last resort role is that it cannot create unlimited liquidity as can a central bank. But it is not absolutely necessary that an international lender of last resort have unlimited resources to create liquidity, just that it has enough to do the job. Indeed, Fischer points out that under the gold standard, central banks in reality did not have an unlimited capability to create liquidity and yet were able to perform the lender of last resort role, and so the situation is not all that different. Bibliography: Bordo M.D. (1990), â€Å"The Lender of last resort : alternative views and historical perspectives†, Economic Review, Federal Reserve Bank of Richmond, Vol. 76, No. 1 (Jan /Feb). pp.18?29. Garry J. Schinasi and Pedro Gustavo Teixeira (May 2006) â€Å"The lender of last resort in the European Single Financial Market†, IMF working paper. Uwe Vollmer (January/February 2009), â€Å"Do we need a European Lender of Last Resort?†, economic trends. Fecht F and Tyrell M (2004 ) â€Å"Optimal lender of last resort policy in different financial systems â€Å" DP Series 1 –Studies of the Economic Research Centre 39/2004 Xavier Freixas (Nov 1999), â€Å" The lender of Last resort in today’s financial environment, published by Crei. Xavier Freixas, Bruno M. Parigi (March 2008), â€Å"Lender of last resort and bank closure policy†, Ces ifo Conference on Applied Microeconomics. Freixas Z , Giannini C Hoggarth G and Soussa F (1999) â€Å" Lender of Last Resort : a review of the literature â€Å" Financial Stability Reviewvol no Nov pp 151-167 Freixas X Parigi B M , Rochet J-C (2003 )â€Å" The lender of last resort : a twentieth century approach â€Å" Working Paper 298 , European Central Bank Frederic S. Mishkin (July 2000), â€Å"The International Lender of Last Resort: What are the Issues† Geoffrey E. Wood (2000), â€Å"The lender of last resort reconsidered†, Journal of Financial Services Research 18:2/3 203-227. Goodhart CAE and Illing G ( 2002 ) introduction â€Å" pp 1-27 of Goodhart CAE and Illing G ( 2002 ) Financial Crises , contagion and lender of last resort. Goodhart CAE (1999) â€Å" Myths about the lender of Last Resort† International Finance Vol 2 No 3 pp 339-60. William R. Cline (2005), â€Å"The case for a lender of last resort. Role for IMF†, center for global development and institute for international economics. Kenneth D. Garbade, John E. Kambhu (April 2006), â€Å"Why is the US Treasury Contemplating Becoming a lender of last resort for treasury securities?†, Federal Reserve Bank ofNew York, Staff reports no 223. Kahn C M and Santos J A C (2001) â€Å"Allocating bank regulatory powers: lender of last resort, deposit insurance and supervision â€Å"BIS working Paper 102 George Kaufman (1990) â€Å" Lender of Last Resort: a Contemporary Perspective â€Å" Journal of Financial Services Research Volume 5, Number 2, 95-110 also Federal Reserve Bank Of Dallas. Research Paper. 9008. 1990 Sebastian Schich (2008), â€Å"Financial Turbulence: Some lessons regarding deposit insurance.† , financial market trends. December 18, 2010, â€Å"The ECB as the lender of last resort†, http://econoblog101.wordpress.com/2010/12/18/the-ecb-as-the-lender-of-last-resort/ June 24, 2008, â€Å"The ECB as lender of first resort†, http://blogs.ft.com/maverecon/2008/06/the-ecb-as-lender-of-first-resort/ â€Å"Which lender of last resort for Europe?†, http://findarticles.com/p/articles/mi_qa5437/is_3_35/ai_n28866719/ How to cite Principles and goals: A European lender of last resort?, Essay examples

Organizational Learning and Organizational Citizenship Behaviour

Question: Discuss about the Organizational Learning and Organizational Citizenship Behaviour. Answer: Introduction: Theories of organizational behavior create an impact on individuals, groups, and structures they have on human behaviors within the organization. These theories govern the social, psychology, communication and management of the employees within the organization (Davis, 2010). The scientific theory of getting best working equipment and best-skilled workers to do the given job at the organization creates a more efficient business development in an organization. This theory makes it easy to supervise the work being done by the organization. It also makes it easy to plan and control the business organization successfully. It also increases production in large quantity. This theory also improves the labor productivity and financial efficiency within an organisation (Duncan, 2006). There is also the adoption of positive relationship with the leaders and stakeholders of the organization. This positive relationship enhances democracy in the workplace thus increased productivity. This theory can also be applied since customers are able to spend less on better and quality goods hence improved standards of living. The scientific theory provides better working conditions like ventilation, rest pauses, proper safety and enough lighting systems at the organization sites. The theory also manages disputes and conflicts harmoniously. This also improves the trust, integrity and being loyal to the organization by both workers and the management. The bureaucratic theory is the hierarchical structure of power and norms to govern the members of the organization. This theory can be applied in an organization because there is a division of labor into simpler ways, routine based on competence and functional specializations. Dividing of tasks according to specialization leads to increased benefits to the organization. It also makes it easier to get the specialist who was assigned that job for easier supervision of the work (Somech and Drach-Zahavy, 2004). This theory also calls for the responsibility of every employee to his or her assigned work. Since bureaucracy has rules to govern its workers, then no one is permitted to take up colleagues work with no permission. The hierarchical authority also applies to the managers who are categorized. This is important in an organization since the highest in the hierarchy has the greatest power to rule the organization. This also calls for order within the workplace and protocol of the mana gers governing the organization. The theory also determines how workers are paid in an organization due to the categories created. The people are according to their position within an organization. The selection of workers also depends on the skills, educational background, and competence. This theory is also fond of putting in place strict rules and regulation required to govern the workers to bring about the effective management of the organization. This theory also creates impersonal relationships between the employees to prevent corruption at the organization. Bureaucracy theory brings about efficiency and consistent execution of work by employees. All these make it easier for management to be able to govern its workers and make stable schedules where necessary. In an organization, the administrative theory of organizational behavior can be applied since it emphasizes on establishing a universal set of principles that are able to govern all organizations. This division attempts to ensure the division of labor is done according to each one's responsibility and delegation of power is done by every administration. This theory enables the efficiency of the structures and production at the organization. The division of labor makes it's more efficient since the theory is designed to handle every department at the organization. Each worker is done at a given time at a designed department. When this is applied in the organization then there, would time save on the production of the products? The allegation of power to different departments is necessary since the organization is able to achieve its goals within the given time. The power given to every department makes the administrators do their jobs of supervising the workers at their departments. T his calls for better worker done at the organization. The relationship between the administrators and the workers is also enhanced since their contact is frequent during their working period. This process makes it worthy to register a clear improvement of the productivity and the power utilized to enhance the produce is perfectly utilized. Neoclassical theory of the organization can also be applied in an organization setting since it expresses the genuine concern of every individual at an organization. The individual growth and creativity displayed at the organization development. The theory can be claimed to be a theory of change and productivity since it gives workers and employees a listening ear and always being friendly to them during the working sessions. This act enhances productive output and hence better payment to the employees. The theory also makes workers respond positively to their managers and this enhances the communication at the organization. Better communication skills at the organization will bring about trust and loyalty between the managers and the employees thus increasing the output of the products at the organization (Shani, Woodman and Pasmore, 2011). This maintained equilibrium between the employees and the workers reduces the rate of demoralizing workers and at least once can sport some inte lligence in workers and imply that to the productivity of the organization. This theory also enhances the need for teamwork at the organization that is done easily by individual behavior, interaction and how they respond to each other at the workplace. This act motivates individual and thus one finds it easy to deliver a well-done job (Will, 2012). Contingency theory focuses on the conflict resolutions at the workplaces that threaten to destroy the equilibrium made between the employees and managers. This theory sets to bring change which every member is to try to accept it effectively to enhance the output of the production. If this theory is applied to an organizational setup then it can be very effective in that different leadership styles can be used to govern the organization and the nature in which the people are being led will be different. Each event and situation are to be handled uniquely as well. The leaders have the power to make decisions to their departments for a better outcome. The theory mostly points to the manager or a leader who is expected to act differently from the rest make a reasonable decision which is for the benefit of the organization. The leader is expected to cooperate well with other leaders in different departments so enable effective working conditions. This theory calls for a leader to adjust to every situation at the organization. The ability of a leader to reason and handle situations effectively enhances the trust and respect from the employees and other leaders (Ohemeng and McCall-Thomas, 2013). A leader may also be given time to adjust to which he may be able to sustain the characters for a long period of time which will benefit the organization. The theory is of benefit to the organizational settings since both the workers and the managers benefit due to a better decision made from the managers that in most occasions are of consideration to the employees and the leaders. It also improves the correlation at the organization thus improved the output of the products (Norman, 2011). The systematic theory is a method that points out in the organization everything is interrelated and when one thing is changed then the whole is destroyed and has to be readjusted once more. The system can always change its nature and everyone is expected to adjust quickly. This theory can be applied to the organization setting since the changes it's able to make maybe of effective growth and development to the organization and improve living standards of the workers and managers as well (McKenna and McKenna, 2012). Organizational theory as a form of organizational behavior can be employed in an organization setting since it enhances the grouping of a number of organizations to work independently and operate simultaneously. The goal of this theory is to effective integration of an organization towards the completion of a project. This theory is effective since every department has different organized responsibilities to be handled and allocation of duties is easily done to different environments (French et al., 2015). In an organization there could be problems that the employees may encounter is need to solve them in the process that there I need to solve them accordingly through social concern, cultural and ethical concern. In an organization, there could be teamwork problems that occur especially when there is no coordination between the employees and the managers in different departments. This problem is solved by getting the root cause of the mistakes and weaknesses of the members. The communication between the employees and managers should be enhanced and harmonized to improve the trust and freedom of expression to improve the social status at the organization (Agarwal, 2016). The employees too got issues that could be either personal or group problems. In this case, the solutions are done on the cultural level. The individual with the personal problem could be affected by the cultural nature of the organization and in this case, he should either be transferred to a comfortable. There could be crime cases at the organization that threatens the productivity of the organization. In this case, the security measures are to be enhanced at the workplace. In an organization, a problem may occur in the case of opposition to the decision made. The solution to this problem is to create awareness to the organization in time to avoid opposition (Kondalkar, 2007). The current development in organizational behaviors is of both benefits and demerits to the organization. In this case, the actions of the managers motivate the employees to do a better job and show loyalty to the organization. This behavior at the organization brings about the effectiveness of the workplace. The aspect of good communication amongst the people which is not profitable is quite important since it enables teamwork and better productivity. This development can be criticized in that it's non-profitable and is not really considered important to the benefit of the organization. Thus the changes may not be given much thought because it may take people to adapt to it. Leaders and managers are signed duties and responsibilities at different departments which are a current development in the organizational behaviors. These responsibilities are assigned to skilled and specialized people so as to provide a perfect job at the organization. This development can be criticized in the manner that a manager may decide to perform an activity which isnt part of his duty. This is not allowed. These leaders could be able to perform varieties of duties since they are skilled but these current development made in organizational behaviors denies them the chance to exploit their skills (McKenna and McKenna, 2012). In conclusion, we notice that the theories of organizational behavior are of great benefit to the effectiveness and productivity of the organization. The theories enhance trust and loyalty amongst the workers and the managers at the organization. The problems encountered at the organizations require better solutions and consideration of all the Parties to harmonize the relationship between the workers and employees. The current developments of organizational behaviors are efficient enough to enable growth despite the weaknesses. References Agarwal, P. (2016). Redefining the organizational citizenship behaviour. International Journal of Organizational Analysis, 24(5), pp.956-984. Davis, G. (2010). Do Theories of Organizations Progress?. Organizational Research Methods, 13(4), pp.690-709. Duncan, W. (2006). Organizational Behavior 1: Essential Theories of Motivation and Leadership/Organizational Behavior 2: Essential Theories of Process and Structure/Organizational Behavior 3: Historical Origins, Theoretical Foundations, and the Future. Academy of Management Review, 31(4), pp.1102-1108. French, R., Rayner, C., Rees, G. and Rumbles, S. (2015). Organizational behaviour. 1st ed. Chichester, West Sussex: John Wiley Sons, Inc. Kondalkar, V. (2007). Organizational behaviour. 1st ed. New Delhi: New Age International (P) Ltd., Publishers. McKenna, E. and McKenna, E. (2012). Business psychology and organizational behaviour. 1st ed. Hove: Psychology Press. McKenna, E. and McKenna, E. (2012). Business psychology and organizational behaviour. 1st ed. Hove: Psychology Press. Norman, Z. (2011). Understanding Modernity, Postmodernity Theories, and Organizational Leadership in Postmodern Times. SSRN Electronic Journal. Ohemeng, F. and McCall-Thomas, E. (2013). Performance management and undesirable organizational behaviour: Standardized testing in Ontario schools. Canadian Public Administration, 56(3), pp.456-477. Shani, A., Woodman, R. and Pasmore, W. (2011). Research in organizational change and development. 1st ed. Bingley, U.K.: Emerald. Somech, A. and Drach-Zahavy, A. (2004). Exploring organizational citizenship behaviour from an organizational perspective: The relationship between organizational learning and organizational citizenship behaviour. Journal of Occupational and Organizational Psychology, 77(3), pp.281-298. Will, T. (2012). Enlightenment political philosophy and organizational citizenship behaviour: Contextualizing historical discourse. Management Organizational History, 7(4), pp.285-302.