Personality in the Workplace - 1462 Words

Personality in the Workplace Personality in the Workplace Personality can be thought of as the sum total of ways in which an individual interacts and reacts to other individuals (Stephen amp; Robbins, 2013). Research has shown that measuring personality is a useful tool in making hiring decisions and helping organizations forecast who is best for each unique position. The Big Five Model Personality Model does a great job of predicting how individuals will behave in a wide range of real-life situations, including in an individual’s work life (Stephen amp; Robbins, 2013). After taking the assessment, my results showed that I scored highest in openness to experience/intellect and lowest in agreeableness. Though not surprising, these†¦show more content†¦These traits are great for higher performance in the workplace, enhanced leadership, and greater longevity within an organization (Stephens amp; Robbins, 2013). Research shows that conscientious may be the highest predictor of overall job performance, proving its importance to o rganizational success. My score of being in the 64th percentile corresponds to the success I have had in my position as Client Success Manager at a leading research and advisory firm. My job requires an extreme level of organization and dependability as I act as a personal advisor to multiple c-level executives at top organizations. For my position, conscientiousness is the most important personality factor needed to achieve success and high job performance. Extraversion is the personality dimension that captures an individual’s comfort level with relationships (Stephens amp; Robbins, 2013). Individuals that score high in extraversion tend to be assertive and sociable. With a score in the 53rd percentile, I am neither particular social or reserved but rather somewhere in between. As a child I was very shy and borderline anti-social, but as I got older I learned to be more outgoing and comfortable interacting with others. Being 6’4† since the seventh grade, I had a hard time being the center of attention and would shy away from social gatherings and bringing any more attention to myself than I already had being so unique. Now as a woman inShow MoreRelatedPersonality and the Workplace1487 Words   |  6 PagesAbstract The workplace is difficult enough without us having to worry about the different personalities we encounter each and everyday. Our jobs are a place where we come in contact with many people, both co-workers and clients, and each of their distinct personalities. If we all had the same personality it would be easy for us to predict what the other person is thinking and feeling, but since we dont we must learn to deal with the many different personalities that we come into contact with eachRead MoreEssay on Personality in the Workplace1380 Words   |  6 PagesAn individual’s personality is the basis of who they are and generates how they react to and behave in different situations. Personality testing is used in workplaces to identify whom to hire, promote and even put into teams. Personality testing is efficient in being able to determine which employees will perform best in certain roles, and this can remove some stress from employers. Personal testing has been shown to help improve the quality of employees who are in the workplace. The method of assessingRead MorePersonality Traits Of The Workplace1722 Words   |  7 Pages PSY100 As people, we have a multitude of personality traits; also as human beings we can’t label anyone’s personality strictly into just one word or term. Everyone has a vast array of personality traits which can be from how sad, to how happy; to even how sexual someone can be that is different from one another. But we can qualify people into various personality traits that can just barely summarize a person’s overall personality, specifically in this case, as either introverts or extravertsRead MoreEssay Personality and the Workplace708 Words   |  3 Pages Personality and the Workplace nbsp;nbsp;nbsp;nbsp;nbsp;I prefer to discuss a situation at a previous employment as opposed to anything that may be a current situation. I will, therefore, set the stage, so to speak. The company is a small business that deals with commercial real estate management. The company is well on the way to becoming well known industry wide and soon after I began working with this company, they merged with several others, thereby forming an almost nationwide corporationRead MoreThe Effects Of Personality Assessments On The Workplace1270 Words   |  6 PagesThe use of personality assessments in the workplace has tremendously increased in recent years for the purposes of selection, placement, and development of employees. The rationale for the use of these tests is that personality assessments are useful for explaining and predicting work attitudes, behaviors, and job performance because â€Å"personality includes a wide range of characteristics that people possess; many of them have an im pact upon the ways people behave in the workplace† (Boutelle, 2015)Read MorePersonality and Communication Styles in the Workplace1149 Words   |  5 PagesPersonality and Communication Styles in the Workplace Chanda Holley Industrial/Organizational Psychology PSY302 Martin Cain July 28, 2010 Personality and Communication Styles in the Workplace As a consult it is my job to improve the working relationships within the workplace. In this report I have Juanita Smith, a 33 year old female; Joe Whitman a 26 year old male; Jack Ackman, a 30 year old male; and Justice Dale 48 year old male. Each of these individuals has entirely different personalityRead MorePersonality Traits Within The Workplace1342 Words   |  6 Pagesprofessional many struggle with attempting to control the dominance of his/her personality trait, in fear that it may be damaging to one s current position. Personally, there has been several instances when an employee was ridiculed because he/she expressed personality traits within the workplace, opposite of what the employer personally desired. Within this paper, one will discuss how the connection of an individual personality trait can be beneficial, as well a productive level of on the job trainingRead MorePersonality Trait and Workplace Culture2189 Words   |  9 PagesPersonality Traits and Workplace Cul ture: Online tests measure the fit between person and organization Mark Mallinger, Ph.D. and Ileana Rizescu Application: Determine how compatible you are with your primary work group. | Have you ever stopped in the middle of a work frenzy and asked yourself, Why do I continue to work for this organization? When you try to promote your ideas, do most of your peers frequently react with indifference? If so, it may be time to evaluate the relationship betweenRead MoreThe History and Application of Personality Testing in the Workplace1971 Words   |  8 Pagesï » ¿ We’ve all had some experience with personality testing in one way or another. Since the beginning of the twentieth century personality testing and psychological assessments have been a staple in the recruitment and selection processes in all manner of position. Be it high level executives down to janitors, no candidate is immune to what has become a trusted and normal practice in recruiting. There is currently a long-standing debate among HR professionals and sociologists alikeRead MorePersonality Traits in the Workplace: The Big Five Essay1177 Words   |  5 PagesPersonality has been inherently defined as possession of a particular set of characteristics possessed by people which influences their behaviour and reactions in different situation along with their motivation level to react to difficulties at the workplace. However, understanding personality traits and their development has been a contentious matter. Nonetheless, various theories have been forwarded to rather co ntribute to this contentious debate. For example employers set goals and encourage involvement

Major Differencies Between Eastern and Western...

Differences between the philosophies of the east and west Western philosophy has its roots in Athens, Rome and Judeo ­Christianity while Eastern philosophy is derived from Confucianism, Taoism and Mahayana Buddhism. As Greek and Latin are to Western civilisation, so classical Chinese is to East Asian civilisation. I will focus on four major differences between Eastern and Western philosophies. 1. Western Individualism and Eastern Collectivism In the Greco‑Roman tradition, the image of Prometheus powerfully illustrates the struggle for individual freedom. Prometheus had gone against Zeus, the all powerful god who ruled the sky from Mt. Olympus. Prometheus annoyed Zeus by creating human beings. To protect the human beings from Zeus,†¦show more content†¦Western civilisation based itself on the struggle between the Good and Evil, God and Satan or Psyche and Cupid. Eastern philosophical thought is based on this notion of the Yin and the Yang. Frithjof Capra describes the Yang as the strong,male creative power associated with Heaven while yin is the dark,receptive, female and maternal element. The dark yin and the bright yang are arranged in a symmetrical manner. They are dynamic ‑ a rotating symmetry suggesting very forcefully a continuous cyclic movement.The two dots in the diagram symbolise the idea that each one of the forces reaches its extreme, it contains in itself the seed of the opposite.Life says Chuang Tzuis the blended harmony of the yin and the yang. Taoism permeates the economic and social lives of the Chinese through geomancy, qigong, Chinese medicine and idol worship. As Chan observes:Almost every hotel, office and commercial building that has gone up within the last decade adheres to certain principles of geomancy or Fengshui ‑ the art and science of harmonising man and nature. 4. Idealism and Pragmatism. The Western idea of democracy does not fit into the Eastern scheme of things easily. In an interview by the Daily Telegraph on 16 October 1989 the former Prime Minister remarked that: I think in a mainly Chinese electorate, the idea of aShow MoreRelatedWhat is Philosophy? Essay1828 Words   |  8 PagesThe subject of Philosophy and its subcategories have been widely discussed in both the Western and non-Western world albeit with different focuses. Philosophy includes many different subfields involving investigation into our existence. These subfields include epistemology, ethics, logic, metaphysics, philosophy of science, social and political philosophy, and Metaphilosophy. Epistemology focuses on the study of Knowledge, also known as â€Å"Theory of Knowledge†. Ethics involves the study of moral values

An Example of a Narrative Essay - 818 Words

-1Crystal D. Dozier Narrative Essay November 13, 2007 Word count: 809 My Little Blessings Children have a tendency to bring out the very best in people. I can say I have been fortunate to have four little blessings of my own. I consider each of them as a blessing and each day I am reminded of how much they mean to me. My children have brought out the best in me--parts that I never knew existed. As children grow, so do parents. I have evolved into a better person with the courage to overcome all obstacles because of the love that I have for my children. At the age of twenty, my life was full of constant turmoil and instability. I had a plan, and children were not a part of it. I never imagined that I would ever have children.†¦show more content†¦Through the love for my son, I developed the ability to remain positive even during the most difficult times in life. Although I gained the knowledge to be a more stable and positive individual, something was still missing in my life. The missing piece soon fell into place upon the birth of my twin boys, Irijah and Isaac . A multiple birth was a miracle within itself. It seemed unreal because no one in my family was ever blessed with two babies. Although it took a lot of adjustment, we made it through the baby period. The hard part did not come until they became toddlers. (During this time), I noticed complications (in the development) (of the twins). I soon learned that although they were perfect on the outside my boys were suffering with autism. Irijah is severely autistic while Isaac’s is mild. I knew that in order to conquer this obstacle, changes would have to be made. In the beginning I was unaware of what needed to be done, but I never gave up. I continue to fight for my boys and struggle to keep my sanity. This has been the toughest fight of my life because it involves a series of changes. These changes dealt with acceptance, transition, and adaptation. These were necessary steps because it gives the boys a chance to lead a somewhat normal life. Through the love of my sons, I ha ve learned to adapt to change and have gained strength and perseverance that is necessary in life.Show MoreRelatedNarrative Essay Examples1072 Words   |  5 Pages Narrative Essay As times goes on you, realize life isn’t all it seems to be. You learn life lessons and certain life events teach you things that can lead to you improving yourself as a person. As you realize most things in life are provided to you, you never truly realize how much everything can mean. As teenagers most of us are immature and do not realize how easy it is for us to lose everything we have. As we could lose everything and anything in a matter of seconds if we are not careful. Read MoreNarrative Essay Example1235 Words   |  5 PagesPamela Essay 1 Sitting at my desk at home, a crushing feeling crept up on me. I didn’t know what to think. I’m not going to make it, am I. It was already midway through junior year of high school, and having just calculated my GPA requirements for many of the colleges I had wanted to go to, I realized that my grades were not even close to what I expected them to be. I guess I had been in denial for so long that I let them slip this far. How could I have let this happen? Where was myRead MoreNarrative Essay Examples818 Words   |  4 PagesNarrative Essay I step my foot into public school for the first time ever my freshman year, not knowing a single person other than my brother. Prior to my freshman year, I was homeschooled. The school feels really big at the time and it’s very overwhelming. As I walk around I see people hugging, reuniting, and saying, â€Å"oh my gosh I have missed you!† All I am worrying about is what people are thinking of me like, does she have any friends, or she looks like a loner. I am getting nervous andRead MoreLiteracy Narrative Essay example800 Words   |  4 Pagesmakes sense. To better explain let me make a comparison. When I am assigned a writing assignment or I am writing because the action is being forced upon me I find myself not enjoying the process and overall the end result is subpar. The perfect example of this would be my junior year in high school when I was enrolled in AP english literature. I dreaded the majority of the class simply because there was so much writing involved in the entire course and therefore I was constantly writing just toRead MoreLiteracy Narrative Essay example854 Words   |  4 Pagesfirst time I had to write a narrative. I was a freshman. This was Ms. Bradley’s first time teaching at Union Christian Academy. On her first day, she gave us our syllabus and said, â€Å"I do not accept late work, especially on writing assignments.† We, literally, sat there stunned. My freshman class had it very easy during eighth grade year. We were not expecting this. As I looked through the syllabus, I saw that our firs t assignment was due in a week and it was a narrative. At this time, I did notRead MoreThe Runaway Narrative Essay Examples1347 Words   |  6 PagesThe Runaway- 3,000 words max. FIRST PERSONNNNN SLAM. The door frame sounds to struggle from concaving under the pressure of the overemotional hand. I stand. Dumb and appalled at the sight. Hysterically I see her fall to her knees with complete lack of control as horrifically ear piercing screams protrude from deep within her lungs. The scene is dramatic, and I suddenly realise why these kinds of scenes are made slow in movies. There’s just so much happening that your brain literally slows theRead MoreFreesia: A Narrative Fiction Essay example1372 Words   |  6 Pages Music floated through the brisk cold air from the open window of the music school looking over the peaceful lake where families and young lovers basked in the morning gentle rays. The spring flowers, which were gently swaying in the breeze as their petals reached toward the sky while enamoring the hearts of poets and painters alike and the flowers blushed at the attention they received from the young children who’s greedy hands yearned to clutch the colorful beings in their dirty little handsRead MoreGreed: A Fictional Narrative Essay examples2012 Words   |  9 PagesThe snow floated down from the heavens on to earth painting glistening white. Just like the named implied whitechapel was covered in a blanket of white. Catherine Eddowes walked home she spots the local newspaper boy passing out informationâ€Å"Hey Missus, care for this mornings paper?† â€Å"Yes, boy, how many pounds will this be?† replies Catherine Eddowes. †Just one pound, Missus.† â€Å"Thank you, boy.† She says as she throws the coin to the lad. The boy hides the coin in his hat. The news articles statesRead More I-Search Narrative Essay example1954 Words   |  8 PagesI-Search Narrative At the tender age of two I moved from a development in the town of Mechanicsburg, Pennsylvania to the vast stretches of farmland that make up the area between Mechanicsburg and the neighboring town of Dillsburg. It was not a big move distance-wise, but it would forever change my life. If I would have stayed where I was I would have went to a different high school, had a different set of friends, and who knows where I would be today. While I did not know it at the time, (IRead MoreMary Shelleys Frankenstein - Narratives of Seduction Essay example997 Words   |  4 PagesFrankenstein:nbsp;nbsp;Narratives of Seductionnbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; nbsp; The following essay is concerned with the frame structure in Mary Shelley`s Frankenstein and its’ functions as it is suggested by Beth Newman`s Narratives of seduction and the seduction of narratives.nbsp; To start with, the novel Frankenstein is a symmetrically built frame narrative with a story at its center. This is not always the case with frame structured novels, as there are examples without a proper

The Gang Activity Within Our Community Essay - 1443 Words

This paper discusses the gang activities in Grenville, NC. There are three main topics that include; 1) the history of gang activity. 2) Gang activity in today’s society. 3) Ways to eradicate gang activity within our community. To start what is the true definition of a gang and what is there purpose? A gang is an organized group of either friends or family with identifiable leadership claiming control over a community or territory. Gangs are driven by money, power, and opportunities to victimize enemies and the innocent to grow their criminal organization. Some anthropologists believe that the gang structure is one of the most ancient forms of human organization History behind Gang Activity Gangs originated in New York, during the late 18th century. They consisted of seven infamous groups: â€Å"The Forty Thieves, the Bowery Boys, the Dead Rabbits, the Daybreak boys, the Whyos, the Five Points Gang, and lastly the Eastman Gang. Gangs back then when originated was not for the use of criminal activity. Originally their sole purpose was to protect their neighborhood and were mostly common labors. Gangs formed the â€Å"basic unit of social life among the young males in New York in the nineteenth century. More dangerous gangs emerged during the earlier 1900s from the persistent disorder that gripped the city slums, tenements, saloons, and dance halls. However, African Americans history to gang activity differentiates from this timeline. African American gangs began forming inShow MoreRelatedGangs and Injunctions1330 Words   |  6 PagesGangs and Injunctions Criminal activities and gangs have mostly always been an on going problem in the United States. Gangs and gang members are frequently involved with a variety of different crimes. The 2008 National Youth Gang Survey reported that there are approximately 774,000 active gang members in the United States (Egley, Howell, Moore, 2010). The 2008 National Youth Gang Survey also states that there are about 27,900 active gangs in the United States (Egley et al., 2010). The activeRead MoreThe Social Problem Of Gangs948 Words   |  4 Pagesdefinition accurately describes the social problem that gangs are, and their impact on a community. People who live in gang infested neighborhoods live daily with fears of losing their lives and the lives of loved ones. That fear, along with the fear that their family members will join the gang, or that they will be physically harmed in some way by the gang. They may exhibit many emotional, psychological and physical problems that people who don’t l ive in gang infested neighborhoods do not. Since before theRead MoreThe Mission Of The Sdwcc Task Force Essay1426 Words   |  6 Pagesthe West Coast Crips gang by creating a renewed community confidence and enhanced quality of life through a three pronged prevention, intervention, and suppression strategy. We will educate community members on the negative impacts of gang participation and attractive alternatives for families, and in particular the youth, in a robust prevention effort. We will utilize law enforcement and other emerging resources, to engineer intervention solutions for those at risk of gang membership and those alreadyRead MoreEssay On Drug Control892 Words   |  4 Pagesand maintain the control within both facilities since both feeds criminals into each other. The gang activity is running rapid inside the facility and it doesn’t help that the President of the VBBC is currently incarcerated inside my detention center for violating his parole, and while he a waits trial, his intent is to strengthen his organization with new members. Knowing that new inmates are processed into the facility daily, and that they will quickly gravitate to gang organizations if they feelRead MoreEssay about Street Gangs in the United States1399 Words   |  6 PagesStreet gangs in this country can probably be traced back to the first wave of Europeans who migrated to the colonies for a better life for themselves and their families. Many of the first gangs were formed as a means of self protection, with the thinking that there is simply strength in numbers. The missions of gangs in today’s society have grown and emerged to include many violent criminal avenues, including drug trafficking, prostitution, money laundering, and extortion but the original thinkingRead MoreGang Violence And The United States1470 Words   |  6 PagesGangs have been a part of American culture in the United States since the early 19th century when immigrant youth organize d themselves into street gangs as a means of urban and economic survival. Today, gang violence has reached an almost catastrophic level in the United States. Criminal street gangs have become one of the most serious crime problems in California. Gang violence accounts for one of the largest personal threats to public safety for nearly all the cities in this state. Salinas, CaliforniaRead MoreLocal Crime Prevention Program1108 Words   |  4 PagesLocal Crime Prevention The name of the crime prevention program The name of the program is Open Door Youth Gang Alternatives. It is head quartered in Golden, Colorado. Their primary focus is to prevent at risk youth from joining gangs and educate the public about warnings signs for recruitment activity. (Our Programs, 2012) (Worrall, 2008) A description of the components of the program (i.e., the length of time to complete the program, who are the participants, who teaches the program, andRead MoreShould Street Gangs Be Considered Terrorist Organizations?1711 Words   |  7 PagesShould Street Gangs be Considered Terrorist Organizations? Terror, violence, and death are the common denominators in our society nowadays. Why? Because of street gang fights. Innocent people have been killed as a result of street gangs. These groups of criminals use violence against societies and band together for mutual protection and profit. Street gangs are gangsters controlling, attacking, and killing people on the streets, as a result, they are one of the biggest social problems around theRead MoreYoung People Join Gangs For Social And Economic Reasons Essay1431 Words   |  6 PagesAccording to the authors of Gangs, Graffiti, and Violence, they state that young people join street gangs for social and economic reasons (Leet, 2000). However, one of the main factors young people join gangs is due to the lack of stability of being raised in an unstable family environment. For instance, gang members raised in a single parent home by their mother, usually in her early thirties, caring for three or four children at a time, on her own witho ut the presence of a male father figure. AsRead MoreGang s And Management Challenges Facing Corrections Essay1316 Words   |  6 PagesGang s in the Correctional Setting There are many supervisory and management challenges facing corrections, due to the proliferation of the gang problem, presently within our prisons today. It is critically important for upper management, in the correctional field, to be held as responsible stewards, of the all resources available to them to combat this problem. (Saint Leo University, 2016). These actions are necessary, to deter the increasing glut of criminal activities, which gang behavior inevitably

Principles of Economics Free Essays

Paper Individual decision making is either you do, or you do not. Most people are rational beings basing their decisions on a formula, benefits versus cost. Are the benefits of buying a $1000 television worth it? Are the marginal benefits worth the marginal cost? Just this morning, I was faced with such a scenario. We will write a custom essay sample on Principles of Economics or any similar topic only for you Order Now I was invited over to a friend’s house to try a new video game. I did not go, however, because I knew that I had to read several chapters for my class and write a paper.The benefits were that I would have some time to hang out with my friends and enjoy some much needed free time. The cost would’ve been that I could have not gotten all of my reading done and possibly been late on my assignment. My rational thought was that I would spend the day doing my reading and assignment and then get some free time later. Taking care of my responsibilities now would allow me to enjoy my free time later knowing that I had everything else, which was important, finished. Rationally, I would not have made a different decision.Economists have created an economic model that almost all businesses, government policy makers and entrepreneurs base their decisions on. Using these models, these people make their decisions based on how that decision will affect the economy. These models are for by economists based on analyses which are composed of: a hypothesis, assumptions, and simplifying. Analyses are done between consumers and businesses and how the two interact with each other. Will consumers buy certain products from these businesses?This analysis also includes assumptions that consumers will buy products to maximize their own profits. These assumptions are somewhat simplified and are not always accurate or do not apply to all consumers. This goes back to the first of the three economic ideas: people are rational. Each economy has three problems to solve: 1. What will be produced? 2. How will the goods and services be produced? 3. Who will receive those goods and services? There are two main ways for each society to organize their economies: centrally planned economy and market economy.Centrally planned economies are of a lower caliber quality, because the government decides who, what, and how products will be handled. This however does not meet the consumers wants, only the needs. Market economies are quite different from centrally planned. Market economies base their who, what, and how answers on the consumers. This gives the consumers more choice and power on their buying habits. In a market economy, products will tend to have higher quality and higher probability of satisfying the consumers.This does, however, target the more willing and capable buyers. There is a third economic system that was brought about in the nineteenth century: a mixed economy. This mixed economy is a combination of both centrally planned and market economies. This allows for the answers to â€Å"who, what, and how? † to be decided by consumers but in which the government has a significant role in the allocation of resources. Simply explained, social interactions change from one economic system to another.A centrally planned economy restricts free will as far as the questions who, what, and how. Perhaps leaving the society a little less satiated. A market economy will allow for higher paying jobs, better quality products, but targets only a certain demographic. A mixed economy attempts to combine both systems and allow for high quality products, high paying jobs for skilled workers, and allow products to be distributed to all demographics. Resources Hubbard, R. G. , O’Brien, A. P. (2010). Economics. How to cite Principles of Economics, Papers Principles of Economics Free Essays CHAPTER 1 Ten Principles of Economics Economics P RINCIP LES OF N. Gregory Mankiw Premium PowerPoint Slides by Ron Cronovich  © 2009 South-Western, a part of Cengage Learning, all rights reserved In this chapter, look for the answers to these questions:  § What kinds of questions does economics address?  § What are the principles of how people make decisions?  § What are the principles of how people interact?  § What are the principles of how the economy as a whole works? 1 What Economics Is All About  § Scarcity:  § Economics:  § how people decide what to buy, how much to work, save, and spend how firms decide how much to produce, how many workers to hire  § how society decides how to divide its resources between national defense, consumer goods, protecting the environment, and other needs TEN PRINCIPLES OF ECONOMICS 2 1 The principles of HOW PEOPLE MAKE DECISIONS HOW PEOPLE MAKE DECISIONS Principle #1: People Face Tradeoffs Principle #1: People Face Tradeoffs All decisions involve tradeoffs. Examples:  § Going to a party the night before your midterm leaves less time for studying. We will write a custom essay sample on Principles of Economics or any similar topic only for you Order Now  § Having more money to buy stuff requires working longer hours, which leaves less time for leisure. Protecting the environment requires resources that could otherwise be used to produce consumer goods. TEN PRINCIPLES OF ECONOMICS 4 HOW PEOPLE MAKE DECISIONS Principle #1: People Face Tradeoffs Principle #1: People Face Tradeoffs  § Society faces an important tradeoff: efficiency vs. equality  § Efficiency:  § Equality:  § Tradeoff: TEN PRINCIPLES OF ECONOMICS 5 2 HOW PEOPLE MAKE DECISIONS Principle #2: The Cost of Something Is Principle #2: The Cost of Something Is What You Give Up to Get It What You Give Up to Get It  § Making decisions requires comparing the costs and benefits of alternative choices. The opportunity cost of any item is  § It is the relevant cost for decision making. TEN PRINCIPLES OF ECONOMICS 6 HOW PEOPLE MAKE DECISIONS Principle #2: The Cost of Something Is Principle #2: The Cost of Something Is What You Give Up to Get It What You Give Up to Get It Examples: The opportunity cost of†¦ †¦going to college for a year †¦seeing a movie TEN PRINCIPLES OF ECONOMICS 7 HOW PEOPLE MAKE DECISIONS Principle #3: Rational People Think at the Principle #3: Rational People Think at the Margin Margin Rational people  §  § make decisions by evaluating costs and benefits of marginal changes TEN PRINCIPLES OF ECONOMICS 8 3 HOW PEOPLE MAKE DECISIONS Principle #3: Rational People Think at the Principle #3: Rational People Think at the Margin Margin Examples:  § When a student considers whether to go to college for an additional year, he compares  § When a manager considers whether to increase output, she compares 9 TEN PRINCIPLES OF ECONOMICS HOW PEOPLE MAKE DECISIONS Principle #4: People Respond to Incentives Principle #4: People Respond to Incentives  § Incentive:  § Rational people respond to incentives. Examples:  § When gas prices rise, consumers buy more hybrid cars and fewer gas guzzling SUVs.  § When cigarette taxes increase, teen smoking falls. TEN PRINCIPLES OF ECONOMICS 10 Applying the principles You are selling your 1996 Mustang. You have already spent $1000 on repairs. At the last minute, the transmission dies. You can pay $600 to have it repaired, or sell the car â€Å"as is. † In each of the following scenarios, should you have the transmission repaired? Explain. A. Blue book value is $6500 if transmission works, $5700 if it doesn’t B. Blue book value is $6000 if transmission works, $5500 if it doesn’t 11 ACTIVE LEARNING 1 4 The principles of HOW PEOPLE INTERACT HOW PEOPLE INTERACT Principle #5: Trade Can Make Everyone Principle #5: Trade Can Make Everyone Better Off Better Off Rather than being self-sufficient, people can specialize in producing one good or service and exchange it for other goods.  § Countries also benefit from trade specialization: TEN PRINCIPLES OF ECONOMICS 15 HOW PEOPLE INTERACT Principle #6: Markets Are Usually A Good Principle #6: Markets Are Usually A Good Way to Organi ze Economic Activity Way to Organize Economic Activity  § Market:  § â€Å"Organize economic activity† means TEN PRINCIPLES OF ECONOMICS 16 5 HOW PEOPLE INTERACT Principle #6: Markets Are Usually A Good Principle #6: Markets Are Usually A Good Way to Organize Economic Activity Way to Organize Economic Activity A market economy allocates resources through the decentralized decisions of many households and firms as they interact in markets.  § Famous insight by Adam Smith in The Wealth of Nations (1776): Each of these households and firms TEN PRINCIPLES OF ECONOMICS 17 HOW PEOPLE INTERACT Principle #6: Markets Are Usually A Good Principle #6: Markets Are Usually A Good Way to Organize Economic Activity Way to Organize Economic Activity  § The invisible hand  § The interaction of buyers and sellers determines prices. Each price reflects  § Prices guide self-interested households and firms to make decisions that, in many cases, maximize society’s economic well- being. TEN PRINCIPLES OF ECONOMICS 18 HOW PEOPLE INTERACT Principle #7: Governments Can Sometimes Principle #7: Governments Can Sometimes Improve Market Outcomes Improve Market Outcomes  § Important role for govt:  § People are less inclined to work, produce, invest, or purchase if large risk of their property being stolen. 19 TEN PRINCIPLES OF ECONOMICS 6 HOW PEOPLE INTERACT Principle #7: Governments Can Sometimes Principle #7: Governments Can Sometimes Improve Market Outcomes Improve Market Outcomes Market failure:  § Causes:  § Externalities  § Market power,  § In such cases, public policy TEN PRINCIPLES OF ECONOMICS 20 HOW PEOPLE INTERACT Principle #7: Governments Can Sometimes Principle #7: Governments Can Sometimes Improve Market Outcomes Improve Market Outcomes  § Govt may alter market outcome to  § If the market’s distribution of economic well-being is not desirable, TEN PRINCIPLES OF ECONOMICS 21 Discussion Questions In each of the following situation s, what is the government’s role? Does the government’s intervention improve the outcome? a. Public schools for K-12 b. Workplace safety regulations c. Public highways d. Patent laws, which allow drug companies to charge high prices for life-saving drugs 22 ACTIVE LEARNING 2 7 The principles of HOW THE ECONOMY AS A WHOLE WORKS HOW THE ECONOMY AS A WHOLE WORKS Principle #8: A country’s standard of living Principle #8: A country’s standard of living depends on its ability to produce goods depends on its ability to produce goods services. services.  §  § Average income in rich countries is more than ten times average income in poor countries.  § The U. S. standard of living today is about eight times larger than 100 years ago. TEN PRINCIPLES OF ECONOMICS 4 HOW THE ECONOMY AS A WHOLE WORKS Principle #8: A country’s standard of living Principle #8: A country’s standard of living depends on its ability to produce goods depends on its ability to produce goods services. services.  § The most important determinant of living standards: productivity  § Productivity depends on  § Other factors (e. g. , labor unions, competition from abroad) have far less impact on living standards. TEN PRINCIPLES OF ECONOMICS 25 8 HOW THE ECONOMY AS A WHOLE WORKS Principle #9: Prices rise when the Principle #9: Prices rise when the government prints too much money. overnment prints too much money.  § Inflation:  § In the long run, inflation is TEN PRINCIPLES OF ECONOMICS 26 HOW THE ECONOMY AS A WHOLE WORKS Principle #10: Society faces a short-run Principle #10: Society faces a short-run tradeoff between inflation and unemployment tradeoff between inflation and unemployment  § In the short-run (1 – 2 years),  § Other factors can make this tradeoff more or less favorable, but the tradeoff is always present. TEN PRINCIPLES OF ECONOMICS 27 FYI: How to Read Your Textbook 1. Read before class. You’ll get more out of class. 2. Summarize, don’t highlight. Highlighting is a passive activity that won’t improve your comprehension or retention. Instead, summarize each section in your own words. Then, compare your summary to the one at the end of the chapter. TEN PRINCIPLES OF ECONOMICS 28 9 FYI: How to Read Your Textbook 3. Test yourself. Try the â€Å"Quick Quiz† that follows each section before moving on to the next section. Write your answers down, compare them to the answers in the back of the book. If your answers are incorrect, review the section before moving on. 4. Practice, practice, practice. Work through the end-of-chapter review questions and problems. They are often good practice for the exams. And the more you use your new knowledge, the more solid it will become. TEN PRINCIPLES OF ECONOMICS 29 FYI: How to Read Your Textbook 5. Go online. The book comes with excellent web resources, including practice quizzes, tools to strengthen your graphing skills, helpful video clips, and other resources to help you learn the textbook material more easily and effectively. Visit: http://academic. cengage. com/economics/mankiw 6. Study in groups. Get together with a few classmates to review each chapter, quiz each other, and help each other understand the material. TEN PRINCIPLES OF ECONOMICS 30 FYI: How to Read Your Textbook 7. Teach someone. The best way to learn something is to teach it to someone else, such as a study partner or friend. 8. Don’t skip the real world examples. Read the Case Studies and â€Å"In The News† boxes in each chapter. They will help you see how the new terms, concepts, models, and graphs apply to the real world. As you read the newspaper or watch the evening news, see if you can find the connections with what you’re learning in the textbook. TEN PRINCIPLES OF ECONOMICS 31 10 How to cite Principles of Economics, Papers

Death penalty1 Essay Example For Students

Death penalty1 Essay InstitutionsThe main idea in this essay, I believe, is how institutions can be so complex with their chain of laws, traditions, custom ideas that provide structure and order of political life. Civilization evolves and changes, and crafted by people who would mold institutions by their own ideology or philosophical view of politics. Political theorists, who writes in a period of chaos and anarchy, and believes politics is a power game, and life is reduced to avoid a pain and seek pleasure. Institutions are shaped by Social chaos, and philosophical perspectives, with intellectual and moral characters of institutional framework. Political institutions with their representatives are not necessarily the sense of democracy. The definition of representative is that legislators and others are elected in the public interest. Most political societies, the period includes the abundant justification of for existence of goals, ideas and objectives of the nation. The self- evident is our Declarati on of Independence because it emanates from nature. Furthermore, the view of the framers political order depends on a person or a political society conforming to law. The book that was written by Madison, Hamilton and jay called the Federalists, using the pseudonym publius are references for the purposes of the United States. And the principals reflected social ethics of society during the founding period, and are manifested of the spiritual and the character intellectual of the framers. Framers are just like artist, using their sculptured work (The American Political System) were from raw materials, and experienced ideas from the past. the circumstances from their time. The government construed by framers reflected the social ethos of the culture and time. The American framers political philosophy reveals their makeup and nature of their existence, and their imaginative view of politics. Then publius argued that government is necessary, and human nature needs government, it being a necessary item because; by rights human nature is flawed and it exist to preserve liberty and freedom. It also ensures truths and institutionalization and preservation. Defined by birth, wealth or privilege In-addition, federalism, checks, balances, separation of power, limited government, judicial review and the American constitutional framework itself, are insights of framers and are a product of their imagination, and makeup. American leaders not defined by birth, wealth, or privilege. Institutions are tied to civilizations development. The American Revolution struggled between political order opposing views. King George 111, violated principals of government from natural law. Calling for independence apart from natural rights, makes no sense, then if the king was a tyrant, he had no right to be a ruling king. But according to colonists his rule was compatible to good government. In our modern times, age, religion, culture and politics have competed for power and influence. Although, the complexity of institutions shapes peoples lives, and the way they live, and are shaped by experiences and ideas. Institutions are viewed as impersonal very often, and they contribute allegiance identity and create an environment which people experience range of emotions, like love, happiness, friendship, and alienations to name a few. So you either live a good life or experience misery. These concepts I am discussing undergo, interpretation and re-interpretation as I have attempted to do. Hopefully I am succeeding. As the surrounding social ethics changes, political institutions have corresponding changes also, usually results from challenges of changing circumstances that require new, or reformed institutions. The tyranny of George the 111, and his desire for American independence created efforts to reshape the political institution of the colonies. This gave rise in these United States, and then wasnt created in a historical vacuum. Nevertheless, the rise of a nation and its founding time, or the fall of a nation its decline, typically philosophers are compelled to answer questions about order and institutions. Plato faced a break down of political order in Athens. He also emphasized the need for statesmen, who could control political institutions, because in Athens the leadership was corrupt and inept. Institutions structure changes occurs when leaders mold characters, and people change or visa-versa. Plato said institutions dont determine personal behavior, nor does behavior determine institutions. Aristotles view of institutions defined in his politics, he emphasized that a man is a social and political animal.