Data mining does not violate the constitution Essay

Data mining does not violate the constitution - Essay Example They fall under different industry categories such as health care, finance, retail, aerospace, and manufacturing have began using data mining techniques as well as tools in a bid to take advantage of the historical information and data. Data mining has helped various analysts to acknowledge crucial facts, patterns, relationships, trends, anomalies, and exceptions that could have otherwise go unnoticed. This is usually achievable by sifting through the warehoused information primarily by using statistical, mathematical, and pattern recognition technologies. From the business organizations point of view, data mining is essentially an important tool for discovering patterns alongside relationships in the given data with a view to help make more useful decisions. Furthermore, data mining is vital for developing better marketing campaigns, predicting customer loyalty more accurately, and helping spot sales trends. Some of the specific uses of this technology include fraud detection, inter active marketing, direct marketing, market segmentation, trend analysis, and customer churn. Literature Review Different scholars have come out in strong defense of data mining with majority of them arguing that it does not violate the constitution. Nonetheless, various have also sort to prove the damning effects of data mining particularly looking at the privacy of individuals. ... Furthermore, the article elucidates how the U.S. investigators essentially advocating for the agenda on robust antiterrorism have compelled communications firms to store as well as turn over unprecedented information regarding the telephone calls of citizens, daily movements, and Internet communications. Similarly, the dual interests of the private sector intention to maximize profits and determination of the government to combat future terrorist attacks have imperiled the standards of human rights. Similarly, the article Twenty-First Century Surveillance: Dna Data Mining and the Erosion of the Fourth Amendment by Ferrell Kelly (2013) argues that every time a person visits a webpage, runs a search engine, or makes a call, text, or purchases data is collected, and analyzed in order to determine that person’s individual propensities and predict their future behavior. Corporations justify data mining technology as an efficient means of targeting interested consumers, while the go vernment boasts of national security and public safety to rationalize the surveillance technique. In essence, the corporations have constructive objectives and goals in terms of the way they intend to utilize the new technology to meet the demands of prospective customers. The government on the contrary has credited the technology owing to its capacity to handle national security as well as the safety of the public. In the article, Regulating Governmental Data Mining In The United States and Germany: Constitutional Courts, The State, And New Technology by Schwartz Paul (2011), the author looks at how the legal systems of Germany and the United States respond to the use of data mining by

Handgun control Research Paper Example | Topics and Well Written Essays - 1500 words

Handgun control - Research Paper Example In order to understand gun control legislation, it is necessary to understand the phrase’ a â€Å"responsible citizen†. According to a local police officer, Steve Rusiecki, a responsible citizen is one who is a law-abiding citizen, does not abuse alcohol or drugs, has no felony records, has renounced U.S. citizenship, is legally in the U.S., is not mentally sick, and has not been dishonorably discharged from the military (Savage 1). This description entails all the elements from the Arizona’s concealed carry law and Federal Gun Control Act of 1968. The founding fathers made the second Amendment to the U.S. Constitution and it states: â€Å"A well-regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arms, shall not be infringed† (Savage 2). It was then included into the Bill of Rights. The founding fathers feared the federal government was going to oppress its citizens if they had no means of defend their nations and themselves. The right to possess and use guns was facilitated by Algernon Sidney, Aristotle, John Locke and Cicero. According to Samuel Adams, the militia that is described in the United States Constitution does not only refer to the National Guard or the Army. He suggests this group is comprised of free citizens. In addition, George Manson argues that a well managed militia comprises of Freeholders, Gentlemen and other Freemen (Squires 77). The American Revolutionary War was won with the help of an armed population consisting of militias, continental army, partisans and independent companies. It is, therefore, evident that the Founding Fathers realized that the society can benefit from firearms that are handled by responsible citizens (Squires 77). Many years later after the Revolution War, the government began to introduce regulations on the possession and usage of firearms. The initial measure was concerned with the way in which citizens could carry guns (Harrold 5). For example, in 1850 the Louisiana Supreme Court gave a ruling that the constitution does not guarantee any citizen to carry con cealed arms. However, earlier courts’ rulings asserted that the constitution protected the right of citizens to possess and use concealed weapons (Harrold 4). Just some time before Civil War, most Southern States, passed laws that denied the freed blacks and slaves from possessing firearms. This decision was initially made by Dred Scott Decision. Dred Scott argued that blacks, and slave had no rights to citizenship and they, therefore, have no right to possess and carry guns. The current gun control legislation takes into

Compensation trends in the United States Essay Example for Free

Compensation trends in the United States Essay The current trend of globalization, technical revolution and competition, has had dynamic impact on the compensation trends worldwide, as well as within United States. The whole ladder of compensation from agriculture to Information technology has seen an upsurge in compensation. The economic conditions, the political support and the globalization have played an important role in setting the curve for this trend. There is greater awareness, increased skill, enhanced efficiency and wider range of choices. The human resource has become a more valued, competitive and specialized force affecting the future of economy and industry. They have the bargaining power, and capacity to mould the pattern of growth in every arena of service, research, education, health and industry. â€Å"The RAND Corporation, in a report prepared at the request of the U. S. Department of Labor, says three trends will shape the labor force and employment relationships in the coming years: a slowing in the growth rate of the workforce, an acceleration in technological advances, and continued globalization. † (RAND, 2004) â€Å"The Emerging Trends in Human Resources† looks into many trends which would affect the future compensation package for people in United States. He categorizes them in workplace trends which would affect the employers and employees with better technology, higher health insurance, outsourcing, aging and other factors. Demographic factors like growth, retirement and aging. The organizations will need to respond with more strategy to retain and recruit new employees as well as train and upscale them. The political emphasis on economy, growth and outsourcing will guide the future trend dramatically. The trends of the society will dictate the nature of the work force and the balance of the compensation. International trends like expansion of businesses globally, rise of Asian market and emerging off shoring giants like India, china, Philippines and others add more to the competitive edge. (Greene, 2006-2007) Most companies have turned to total rewards and pay-for-performance programs as a vehicle for maximizing return on investment and employee potential. Variable pay is now a major part of compensation design for nearly 80% of U. S. companies, according to our Salary Increase Survey. Having the best people is more important than ever, especially in a business environment focused on value creation. In fact, many experts believe that attracting, motivating, and retaining the best talent is one of the greatest obstacles to growth over the next decade. Smart companies are finding ways to get the most from their investment in compensation and rewards without sacrificing the ability to compete for talent. (Hewitt, 2007) According to the report, titled, The 21st Century at Work: Forces Shaping the Future Workforce and Workplace in the United States. (RAND,2004) These trends have important implications for vital aspects of the future workplace and workforce and for the U. S. economy. These trends will affect the size, makeup, and skills of the labor force, the kinds of work and its settings, and worker compensation. Understanding these trends will help workers, employers, educators and policymakers make informed decisions that reflect changing realities. (RAND,2004) There is tremendous promise in the rise of competitive compensation package in most fields with better opportunities for growth in Unites States. The demand for skilled human resource will pave the way for next decade in business, healthcare, services, engineering, IT, and many other fields. This is the period of strategic planning, wide range compensation and timely rewards. Work Cited (2-23-2004). RAND Report Predicts Trends in Labor Force. Retrieved February 23, 2007, from BLR Compensation BLR. com Web site: compensation. blr.com/display. cfm/id/153659 Greene, Keith J. (2006-2007). HR SPHR. Retrieved February 23, 2007, from SHRM Web site: www. fmi. org/humanresources/Emerging_Trends_Presentation. pdf Rothberg, Deborah (29-AUG-2006). Study: Skills Shortage Boosts Salaries. Retrieved February 23, 2007, from e WEEK Careers Web site: www. careers. eweek. com/article/Study+Skills+Shortage+Boosts+Salaries/18739 _1. aspx (2007 ). Compensation Rewards. Retrieved February 23, 2007, from Hewitt Web site: www. hewittassociates. com/Intl/NA/en US/OurServices/ServiceHRC. aspx? cid=2402

Types of Life Insurance: Advantages and Disadvantages

Types of Life Insurance: Advantages and Disadvantages Overview Life insurance is one of the most popular types of insurance that people purchase. Life insurance is basically insurance that you purchase and will pay money to your beneficiaries if you die. One of the main reasons why people purchase life insurance is to protect their family financially. Life insurance will help pay for burial costs, debt, mortgages, and any other income losses that will occur if someone dies. Life insurance is paid for just like automotive insurance is. It can be paid by a monthly, quarterly, or annually premium for as long as the policy goes for (Types of Insurance Policies, 2011). There are several different types of life insurance policies that people can purchase that will best suit their needs. The main types are term life insurance, whole life insurance, variable life insurance, and universal life insurance. In this research paper, I will explain the advantages, disadvantages, time lengths, and how each of the types of life insurance fit different people. It is very important to understand how these insurance companies calculate premiums for different people. Their main goal is to assess the risk of someone dying during the policy. Just like other types of insurance, the more risk you have, the higher your premium will be. Some of the factors that are used to determine premiums are gender, age, occupation, height, weight, medical history, lifestyle, and if you smoke (Types of Insurance Policies, 2011). Recently I had to do a project in class where you had to find different premiums on life insurance. Some other things that I was asked were if I recently had any DUIs, if any relatives have died before the age of 60, if I have recently been hospitalized, and if any diseases run in my family. All of these factors do give the insurance companies a better understanding of someones risk, but it is nearly impossible to be able to determine the chances of someone passing away. It is also difficult to estimate the cost of each of the different types of life insurance because it is different for every individual. Term life insurance is very affordable, and that is why it is growing in popularity. Term life insurance is basically a life insurance policy that covers a person if they die during the length of their insurance. Term life insurance policies can be anywhere from 1 to 30 years. These policies are known as temporary because once the policies are over, you are no longer covered. For example, if you purchase a 10 year term life insurance policy, and you die the year after your policy expires, your beneficiaries wont receive any money. This also means that if you stop paying your premiums, you will no longer be covered. There are many different reasons how people decided on how long they want their life insurance policy to cover their family. A lot people that purchase term life insurance decide to make their contract until they retire. Another popular way people decide on their term is to remain covered until their children have turned 18. This is a very smart way to insure that your children will be financially protected until they are adults (Life Insurance Wiz, 2006). Another good reason to purchase term life insurance is if you are involved in risky or potentially fatal activities. Even though these factors will increase your premium, it is still worth it in case something terrible happens. The cost of term life insurance all depends on a persons risk and the length of the policy. There are several different types of term life insurance, and it is important to know the differences when selecting the best type. Annual renewable term life insurance means that each year a person may renew their term life insurance. However, each year you renew your term life insurance, the premium will go up in cost because of your age. Renewable term life insurance means that after your specific term is up, you are allowed sign a new term life insurance contract. Level premium term insurance means that your premium will not change throughout the length of the contract. This type of term insurance is good because as you get older, you dont have to pay more money for your life insurance. Convertible term insurance means that you are allowed to convert your term insurance into another type of life insurance, like universal or whole life (Life Insurance Wiz, 2006). There are advantages and disadvantages to term life insurance. Some advantages are that you get to choose how long you want to be covered for, most policies can be changed or renewed to other policies, and your beneficiaries are paid a specific amount upon your death which is decided when you start your policy. Some disadvantages are that if you pass away after your term life insurance policy, no benefits are giving to your family, and it doesnt offer as much protection as other life insurance policies offer (Life Insurance Wiz, 2006). Whole Life Insurance Whole life insurance is exactly what it sounds like, a life insurance policy that last for someones whole life. Upon death, the beneficiary receives the value of the account. Whole life insurance is also known as permanent life insurance. The main difference between whole life and term life is that whole life insurance grows in value over time. Whole life insurance is similar to a retirement account where you are putting money toward the future, except in this case it is toward your death. An interesting fact about whole life insurance is that you can actually borrow money out of your account, which you cannot do with term insurance (Life Insurance Wiz, 2006). To be able to borrow money out of your account, there must be a set minimum of money already invested into the account. Most whole life insurance policies mature when a person turns 100 years old, so if that person is still alive they will receive the face value of their account (My Life Insured, 2007). The main reason why peop le choose whole life insurance over term life insurance is because they want to be insured for the rest of their life. For this reason, whole life insurance is more expensive than term insurance. There are several different types of whole life insurance. Non participating whole life insurance means that you do not receive dividends for your policy. On the other hand, participating whole life insurance means that you do receive dividends. Level premium whole life insurance is just like level term insurance, where you pay the same premium throughout the length of the policy. Purchasing a life insurance policy with a fixed premium is a great choice because once you retire, you wouldnt want your premium to increase every year due to the loss in income. Single premium whole life insurance is a policy where you pay a large sum of money in the begging of your policy, which than eliminates having to pay premiums. This type of policy is not very popular due to the reason that you would need a lot of money up front. Intermediate whole life insurance means that your premiums change over time depending on your status (New York State Insurance Department, 2011). In the past couple years, a significant amount of people lost their homes because of adjustable mortgages, so I think that this type of whole life insurance is not a good choice. Some advantages of Whole life insurance are that they are usually fixed premiums, the beneficiaries will receive money whenever the policy holder dies, there are tax benefits, and most of the money will be returned if the policy is cancelled. The money that accumulates in your policy is tax free, which attracts a lot of people to purchase a whole life insurance policy over a term life insurance policy. Some disadvantages of whole life insurance is that it is costly compared to term insurance, and it is much more complicated than term life insurance (New York State Insurance Department, 2011). If you are interested in purchases a whole life insurance policy, it is important to know which type it is so you know you will be able to afford it for the rest of your life. Universal Life Insurance Universal life insurance is very similar to whole life insurance. A universal life insurance policy will cover someone for their whole life, so it is also considered a permanent life insurance policy. Universal life insurance policies also grow in cash over time, which is tax deferred. The interest rates increase and decrease like the money market, so there is a chance to make a lot of money in this type of life insurance (My Life Insured, 2007). The main advantage that universal life insurance has over whole life insurance is that there is more flexibility in the policy. The cash value and the death benefits parts of your policy are broken up, so a person can decide how much of their money will go in each part (Life Insurance Wiz, 2006). The policy holder can also increase and decrease their premium depending on their situation. However, the insurance companies do have a target premium, so if you pay less than it, you may be penalized (Life Insurance Wiz, 2006). This type of life in surance policy would be best for someone who wanted to be covered for the rest of their life, and would want to be able to adjust their policy to be suit their needs. Advantages of Universal life insurance are it is the most flexible, you are able to take out loans, you can adjust your premiums due to your situation, and the cash you earn in interest can be used toward your payments. Some disadvantages are that your cash value isnt guaranteed like it is with whole life insurance and it more costly than term and universal life insurance policies (Life Insurance Info, 2011). Variable Life Insurance Variable life insurance is also considered a permanent type of life insurance. It is considered a pure investment policy because the insured has completed control of how their money is invested (My Life Insured, 2007). They can decide to invest their cash account into bonds, stocks, or any other money market funds (My Life Insured, 2007). For this reason, variable life insurance is the most risky out of all the types of life insurance. If a person makes poor investment choices, they risk losing a substantial amount of their money. On the other hand, if good investments are made, the policy holder can receive a significant profit. Due to the risk of this type of life insurance, it is the most expensive one. This type of life insurance policy is only a good choice for people that understand the money market, and will remain active in watching their investments.

Dill Pickle Essay -- essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"A Dill Pickle† is a story of a run in between two old lovers. The story begins with a nameless man eating a snack at a Chinese Pagoda. While waiting he sees a woman in the distance, as she walks forwards he sees Vera, a woman he dated six years prior. He invites her to sit down and have something to eat with him. She takes him up on the offer and sits down. They begin talking about the usual and then about the times that they spent together. He reminds her of the day they spent at Kew Gardens. What the man remembers of the day was how he was ignorant to all that she spoke to him. What Vera remembered was him confessing his love to her and telling her that no matter how much he lover her, she would never love him back.   Ã‚  Ã‚  Ã‚  Ã‚  Vera sees that he has changed a lot since their breakup. The man is considerably better looking from when she dated him. By the way he is dressed, it appears that he had done well for himself and has matured quite a bit. He offers her a cigarette from a Russian cigarette case, which leads him into his next conversation topic.   Ã‚  Ã‚  Ã‚  Ã‚  He tells her that since their breakup he has done what they had dreamt of doing while they dated, travel to Russia. In fact, he had become a world traveler who spent over a year in Russia. He tells her of the straightforward manner in which Russians acted and how much she would have enjoyed it.   Ã‚  Ã‚  Ã‚  Ã‚  He tells her how great o...

Comparing Two Leadership Theories Essay -- Leadership

There are different leadership theories developed throughout the history. Most popular ones are trait theories, behavioral theories, contingency theories, and leader-member exchange (LMX) theory. The author of the post will briefly discuss two theories, Fiedler contingency theory and Leader-Member Exchange (LMX), and compare and contrast their strengths and weakness. Fiedler’ model is considered the first highly visible theory to present the contingency approach. It stated that effective groups depend on a proper match between a leader’s style of interacting with subordinates and the degree to which the situation gives control and influence to the leader (Fiedler, 1967). Fiedler argued that the leadership style could be indentified by taking a Least Preferred Co-worker (LPC) questionnaire he designed. When evaluating a least enjoyed co-worker, a relationship oriented leader scores high in LPC, while a task oriented leader scores low. Fiedler identified three contingency or situational dimensions: leader-member relations, task structure, and position power. A leader will have more control if he has better leader-member relations, high structured job, and stronger position power. The task-oriented leaders perform best in situations of high and low control, while relationship-oriented leaders perform best in moderate control situations . Feedler views an individual’s leadership style as fixed. To assure leader effectiveness, either situation needs to change to fit the leader or the leader needs to be replaced to fit the situation. But in reality, a leader can not use a homogeneous style to treat all their followers in a similar fashion in their work unit (Robbins & Judge, 2011, p. 382). Leader-Member Exchange (LMX) theory, on t... ... over 25 years: Applying a multi-level, multi-domain perspective, Leadership Quarterly, 6(2):219-247. Gils, S. v., Quaquebeke, N. v., & Knippenberg, D. v. (2009). The X-Factor: On the Relevance of Implicit Leadership and Followership Theories for Leader-Member Exchange (LMX) Agreement European Journal of Work and Organizational Psychology. Rotterdam, Netherlands: Erasmus Research Institute of Management (ERIM). MindTools (n.d.) Fiedler's Contingency Model. Retrieved November 16, 2010 from http://www.mindtools.com/pages/article/fiedler.htm Robbins, S. P., & Judge, T. A. (2011). Organizational behavior (14 ed.). Upper Saddle River, NJ: Pearson. Mao Zedong (n.d.). in Wikipedia. Retrieved November 16, 2010, from http://en.wikipedia.org/wiki/Mao_Zedong Zhou Enlai (n.d.) in Wikipedia. Retrieved November 16, 2010, from http://en.wikipedia.org/wiki/Zhou_Enlai

Business Cycle

Tanzania Business Cycle. Tanzania is one of the poorest countries in the world. According to the United Nations’ data approximately 36% of the global population (43. 7 million people) lives below the poverty line. This signifies that the per capita income of Tanzania is relatively low. The Tanzanian economy depends highly on agriculture, which makes up 40% of the Gross Domestic Product (GDP), provides 85% of exports and employs about 80% of the labour force. The remaining 20% is employed either in tourism, construction, mining or the service sector.Although agriculture has boosted Tanzania’s economy, hurdles still exist due to the poor infrastructure of the country. However, the World Bank and International Monetary Fund (IMF), together with private foreign companies are adopting measures to develop the country in order raise its GDP, and have a sustainable growth rate. (Roubin Global Economics 2012). The business cycle represents four phases that the economy of a count ry goes through over a period of time, moving away from it actual growth trend as suggested by Grant 2000. These include a) depression, b) recovery, c) boom and d) recession.The graph (1) in Appendix A shows, how a economy moves through the four stages, moving away from the actual growth trend. At each stage the economic activities and the total output produced by the economy fluctuate. In addition to that, at each stage the macro economic variables, which include inflation and unemployment, also fluctuate. The wealth of the country also fluctuates at each stage signifying that at each phase of the business cycle the level of consumption, investment, government expenditure, exports and imports fluctuate. (Gant 2000). Below the graph represents Tanzania’s business cycle from 1960 to 2011.The graph represents the four phases of the business cycle according to Tanzania’s economy, also represents how the economy moves away from its actual growth trend. Graph 1: Bigsten and Danielsson(2011) This essay will firstly describe Tanzania’s progress through the four economic phases over the time frame of 1960-2011. Thereafter it will discuss how the various macro economic variables fluctuate during each stage. In particular, this essay will focus on the macro economic variables of unemployment, inflation, investment, output growth (including the components of aggregate demand and supply) and will also consider exports.Depression is the period that falls between recession and recovery. This is the period when the economy faces high rate of unemployment, negative net investment, low levels of exports and falling demand for consumer goods and services, as well as capital goods. (Grant 2000) This is the period when the output level falls over a period of time and the economy of the country is at the lowest level of growth. This implies that the aggregate demand for commodities produced will be relatively low. At this stage the economy will experience a ne gative growth rate, thus the country will not experience economic development.Instead the country will experience poverty as the circular flow of income in the economy is at a minimum. (Grant 2000) As shown in the graph above, according to the Tanzania economic business cycle, it shows that during the period of independence in 1960’s, the economy experienced a negative growth rate of -4. 2% and had a per capita income rate of 7. 1%. In addition to this the inflation rate was relatively high at 7. 8% as stated by Bigsten and Danielsson (2011). The situation in which the rate of inflation is relatively high and the country’s growth rate is negative is known as hyperinflation.Hyperinflation occurs when the economy highly depends on imports and the country’s currency has lost its value. (Investopedia 2012). This occurred because Tanzania had just been freed from the colonial British rule and, had been taken over by the father of the nation, J. K. Nyerere. The countr y therefore had to adopt various reform policies in order to boost the economy. (Bigsten and Daneelsson (2011)). By the early 1980’s Tanzania was heading to an economic crisis, due to the war between Uganda and Tanzania, which climaxed in1978. (EISA2010).During this period of warfare, Tanzania faced a reduction in its exports. In addition to this, there were low levels of investment and low levels of production, which decreased the consumption level in the economy. All these factors led to a fall in the aggregate demand and supply in Tanzania. The negative growth also caused the Tanzanian Shilling to depreciate by 25% in 1984, where the wages level decline, thus implying there was a high rate of unemployment, together with that the inflation rate was at 40%, as can be seen on the graph (2) in appendix A. (EISA 2010).According to Rutasita 2004, the high rate of inflation occurred due to the depreciation of the Tanzanian Shilling, which was brought about by the situation of hyp erinflation as the currency lost it value. The effect of this on the country was vast as there was a great dependency on imported products that included oil. Tanzania therefore fell into deep economic crises mainly due to the oil price shock, the war between Uganda and Tanzania; fall in exports and the depreciation of the local currency. (Noni 2011) Recovery is the period between depression and boom.This is the period in an economy when reforms occur which tends to boost consumption levels, increase production, increase net investment, increase inflation rates and decrease unemployment rate. Overall, during recovery period the government implements various reform policies, in order to boost the economy and have a positive stable growth in terms of the GDP growth rate (Grant 2000). According to the Tanzanian growth cycle, Tanzania has adopted several reform policies, to allow the economy to have a stable growth rate that would eventually lead to its peak period.Soon after its indepen dence from British rule, as suggested by Noni (2011), Tanzania established commercial banks in November 1970,with the main aim to facilitate investment by providing medium and long term loans, in order to boost up the economy of the country, through the industrial sector. Tanzania however, is said to have a growth rate of 4. 2% after 1986 through the reform policy on macro stability (Shanghai Poverty Conference). In addition to this, in order to reform the economy, the Tanzanian government adopted various policies to reduce the poverty level in the county.Between the 1994 and 2002, through the adaptation of the policy, the level of poverty reduced by 28%. The rate of inflation reduced from 30% during the 1980’s and early 1990’s to a single digit in the late 1990’s, as seen in the graph (2) on Appendix A. As suggested by Shanghai Poverty Conference, the introduction of various policies by Tanzania boosted the economy, as it created new investment, both private an d foreign direct. The policy also created employment began to expand the economy.The reforms also improved the balance of payment, which stabled the exchange rate to allow the inflation rate to reduce to a single digit in 1999 being 7. 9%, as the economy was less dependent on the imported productions, and also because of the improvement in balance of payment the shillings gained value, thus stabilizing the economy to a certain level (Rutasitara 2004). This implies that overall production level to increase, which signifies that the aggregate demand for the products’ production would also increase, bring an overall increase in the consumption level.Thus the country has experienced a steady rate of economic growth over the time frame of 1962 to 1976, 1984 to 1995 and finally from 1998 to 2011. The fact that the country’s overall economy has been growing signifies a steady flow of money circulation in the Tanzanian economy. Boom is the period in the economy that comes afte r recovery and before recession. During this stage of the business cycle, goods and services are at high demand. Also there is a high import and export rate, the inflation rate is relatively high and employment is at the peak.This stage of the economy is when production is at its highest level and thus the expectation of profit is relatively high. (Grant 2000) Referring to the graph above, between the years 1960 and 2011, the Tanzanian economy has been recovering showing a significant growth overall in the economy. Tanzania experienced a significant growth rate in 1966 when the growth rate peaked to 12. 8% (ESED International). Thereafter, the economy has also peaked from the year 2000 to 2011, with an average growth rate of 6. 6%, over a period of 11 years.During this period the average inflation rate was 7. 25% (ESDE International). During this period Tanzania had found natural resources including gold and natural gases which has led to the development of its infrastructure. The i ndustrial sector grew by 9. 2% in 2007, and was estimated to grow by 10% in year 2008, as suggested by Campbell and Christie (2010). Tanzania also showed a great improvement in 2010, performing well in foreign exchange reserves tourism sector. The country has collected $3. 7 billion reserves by September 2012 (The Citizen 2010).Furthermore, the country has taken various measures to improve its growth, as stated by Business Development Gateway (2012). For example, in the year 2010, there had been more development under private sectors, which benefit the investors, and allow investment to occur in the country, which would bring about employment opportunities. Overall, since the beginning of the twenty-first century Tanzania has experienced a great improvement in terms of the GDP growth rate. (Campbell and Christie 2010) Recession is the period between boom and depression.This is the period when the economic growth slows down eventually attaining a constant level in the economy. This i s the phase where the rate of unemployment would rise, while the rate inflation rate would decrease. During the recession period the economy is growing but at a low rate. (Grant 2000). According to the graph above, Tanzania’s economy faced a recession during the year 2008. This occurred due to the global financial crises of 2008 that originated from the United States of America caused a general fall in the level of output.This effected Tanzania’s economy as this caused fuel prices to increase, which led to an increase in price in all the sectors of Tanzania’s economy, causing poverty to increase. According to Ngowi (2010), the crises mainly affected the low income earns countries (such as Tanzania) as they are highly financially dependent on the developed nations. Furthermore, due to the financial crises, according to Ngowi (2010) the growth rate predicted by Tanzania reduced from 7. 8% to 7. 5%, in 2008.The investment level also decreased by 10%, together with the level of exports reduced by 44% in cotton industry, 30% in the tourism industry and 50% in the coffee industry. The reduction in all the main economic activities of the country caused the growth rate of the country to decrease. The average inflation rate over the period 2009 to 2011 was 8. 2% (ESDS International). Overall the consumption of in the economy reduced considerably. The financial crises of 2008 did effect the economy of Tanzania, but not at a vast level, as stated by Ngowi (2010).In conclusion this essay has discussed the four phases of a business cycle, showing how an economy of a country (Tanzania) moves through the four stages over a period of time. Overall, Tanzania’s economy has been stable since the country redeemed its independence from British rule However according to president Kikwete (2011), the government has come up with a 5-year government plan in order to ameliorate the country’s economy to a middle income country, with an average GDP grow th rate of 8% for next 5 years and targeted growth rate of 10% from 2016 to 2025.Appendix A Graph 1 Graph 1: Google image, the business cycle. Graph 2 Graph 2: ESDS Data Change in inflation rate on27th July 2012. REFERENCE 1. Bigsten A. , Danielsson A. (1999) â€Å"Is Tanzania an emerging economy? A report for the OECD project†Emerging Africa†Ã¢â‚¬ . [Online]. Available at: http://www. investmentcompact. org/dataoecd/40/30/2674918. pdf [Accessed on: 12th July 2012]. 2. Business Development Gateway (2009) Your Gateway to Business success; Fanikiwa ki-Biashara. Available at: http://www. bdgtpsf. com/ [Accessed on: 12th July 2012] 3. Christie T. , Campbell J. 2010) â€Å"Tanzania† [Online] Available at: http://fic. wharton. upenn. edu/fic/africa/Tanzania%20Final. pdf [Accessed on: 12th July 2012] 4. ESED (2012) The CPI % Change. Available at: http://esds80. mcc. ac. uk/wds_ifs/TableViewer/tableView. aspx [Accessed on: 12th July 2012] 5. EISA (2010) Electoral Instit ute for the Sustainability of Democracy in Africa: Tanzania: failure of Ujamaa (1976 – 1986). Available at: http://www. eisa. org. za/WEP/tanoverview9. htm [Accessed on: 12th July 2012]. 6. Grant, S. J. (2000) Stanlake’s Introductory Economics. 7th edn.Harlow: Essex. 7. Google images (2012) The Business cycle. 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