Essay on Economic

 

Essay Structure:
Introduction
? Introduce Adam Smith and his concept of what determines the wealth of nations
? Introduce the Theory of Growth:
o 1) Increases in labour and capital productivity are driven by the greater division of labour (specialization)
o 2) Greater division of labour is brought about by capital accumulation and larger markets
Division of Labour and Economic Growth
? Increases in labour and capital productivity are driven by the division of labour (specialization)
? Explain the Pin Factory example
? Increases productivity through:
o 1) Reduction in time switching from 1 job to another
o 2) Workers get better at what they do when they do the same function all day (Dexterity and education)
o 3) Breaking jobs up into functions allows people to invent machines to replicate these functions
Trade Makes the Division of Labour Possible
? Power of exchange makes the division of labour possible
? ??it is the power of exchanging that gives occasion to the division of labour? (Smith, Wealth of Nations I.3.1)
o Shoe maker will not specialize in making shoes unless he can trade the product of his labour (shoes) for all the other goods (shelter, clothes, food) that he needs
? In order to increase division of labour further, you need to determine ways to extend exchange (trade) even further
The Impact of Larger Markets on Trade and the Division of Labour
? Larger Markets: ?The division of labour is limited by the extent of the market?
o Larger markets increase the incentive to specialize
o ?When the market is very small, no person can have any encouragement to dedicate himself entirely to one employment? (Smith, Wealth of Nations I.3.1)
? Ex: In a small town you don?t get much specialization while in larger markets there is lots of specialization
? Small town there won?t be an ear, nose, and throat specialist because there aren?t enough other people who need those services to justify someone specializing in that field
? Don?t get specialization and don?t get improvement in that field
o Larger markets increase the incentive to invest in machines (New technologies)
? New technology increases productivity

o Discuss the determinants of larger markets:
? Trust and good government
? People won?t trade with one another if they don?t trust with another
o Big cultural factor which can underlie trade
o Talks more about this in ?The Theory of Moral Sentiments?
? Refer to Singh note
? Best government is that which performs only those minimum functions which individuals cannot
? Free trade
? Free trade and the unrestricted movement of capital allows capital to move into areas of the world where it can earn a higher rate of return
? ?The most advantageous method in which a landed nation can raise up artificers, manufacturers, and merchants of its own is to grant the most prefect freedom of trade to the artificers, manufacturers, and merchants of all other nations.? (Smith, Wealth of Nations IV.9.51)
o This is obviously because the more freedom, the more the division of labour can take place
o International specialization allows a greater division of labour
o Greater incentives to invest in R&D
o More learning from doing
o Greater improvement from productivity, lowering costs, greater wealth, etc
? Geography, Trade, and Civilization
? ??as by means of water-carriage a more extensive market is opened to every sort of industry than what land-carriage alone can afford it, so it is upon the sea-coast, and along the banks of navigable rivers, that industry of every kind naturally begins to subdivide and improve?? (Smith, Wealth of Nations, 1.3.3)
o Says civilization begins on sea costs and navigable rivers
o Much cheaper to carry goods along water than along land
? Therefore, along sea coasts, we have larger markets which means more division of labour, which means greater incentives to invest in R&D, more learning from doing, greater improvements from productivity, lowering costs, greater wealth, etc
? Get more trade
? This kind of explains why largest civilizations are near coasts
? Growth much slower to occur near countries surrounded by land
? Natural Liberty
? System of natural liberty: Leave people alone to make their own decisions
? Liberty allows for self-interests
? In the right circumstances, self-interest leads to benefiting society as a whole, the invisible hand
? Invisible Hand ? Individuals making self-interest decisions can engineer an effective economic system that is in the public interest
? ?[Given freedom] the natural effort of every individual to better his own condition?is so powerful a principle that it is alone, and without any assistance, not only capable of carrying on the society to wealth and prosperity, but of surmounting a hundred impertinent obstructions with which the folly of human laws too often incumbers its operations
The Impact of Capital Accumulation and the Division of Labour
? Capital accumulation also plays important role in increasing the division of labour
? To employ the labour and buy the machines necessary for production there must be previous accumulation/savings
?
The Relationship Between Population Growth and Economic Growth
Summary
? Increases in labour and capital productivity are driven by the greater division of labour (specialization)
? Increases in division of labour was caused by capital accumulation and larger markets
o Increases in trust and good government
o Free trade
o System of natural liberty

Grief and Loss Reflection Paper
Use of I is necessary because its reflection paper.
Objectives:
1. To provide a means for reflection on personal losses and grief experiences.
2. To increase awareness of the grief process.
3. To reflect upon ways in which personal experiences of grief and loss might shape and inform future nursing practice.
Paper Guidelines:
. a) Paper Format The paper is to be 6 typewritten pages in length, double-spaced and written in the 1 person. First person narrative means writing from the ?I? point of view. As in: I am studying hard for my final exam; I am looking forward to graduation, etc.
Correct grammar and spelling is expected. Include a reference list. Please use correct APA format for reference citations in text, and for your reference list.

. b) Contents of Your Paper:

The following components need to be addressed in your paper.
i) Identification of a Significant Loss
Identify and describe a loss you have experienced. The loss may not necessarily be the result of a death, but could also include things like a broken relationship, losing a job, etc. Describe the significance of this loss for you.
ii) Reflection on Your Loss
With respect to the loss you have identified, discuss:
? your initial reactions to the loss;
? the difficulties/challenges the loss may have caused for you; ? the personal meanings that the loss holds/held for you;
? the relational impacts resulting from the loss.
Insights and Growth: Discuss the ways in which your personal experience of loss and grief might positively and/or negatively shape and impact your future nursing practice.
Rubric for paper

Criterion Requirements
Fully Addressed Requirements Mostly Addressed Requirements Inadequately Addressed
Formatting: (Worth 2 marks)
5-10 typewritten pages, double-spaced
-Written in the 1st person
-Correct spelling & grammar
-Reference list included
-APA format used correctly for citations in text, and for reference list.

All of the formatting requirements are met.
No spelling and/or grammatical errors.

(2 marks) Paper meets most of the requirements listed for formatting.
Few errors in spelling and/or grammar.

(1- 1.5 marks) Paper is less than 5 or more than 10 double-spaced type- written pages.
Not written in the 1st person.
Numerous spelling and/or grammatical errors.
Reference list not included
APA format incorrect for citations in text, and/or for reference list.

(.5 mark)
Comments for above:

Identification/Significance of Loss: (Worth 2 marks )
-Significant loss identified and described by writer.
-Significance of the loss to the writer is provided.
All of the requirements related to identification/significance of loss are met.

(2 marks) Significant loss identified and described, but only minimal discussion about the significance of the loss to the writer is provided.

(1 mark) Significant loss poorly described.
No discussion about the significance of the loss to the writer is provided.

(.5 mark)
Comments for above:

Criterion Requirements
Fully Addressed Requirements Mostly Addressed Requirements Inadequately Addressed
Reflections on Your Loss: (Worth 5 marks)

With respect to the loss you have identified, discuss:
? your initial reactions to the loss;
? the difficulties/challenges the loss may have caused for you;
? the personal meanings that the loss holds/held for you
? the relational impacts resulting from the loss. All of the elements of reflection on your loss are met.

(5 marks) Most of the elements of reflection on your loss are met.

(3-4 marks) Elements of reflection on your loss are either not at all addressed, or discussed very superficially.

(0-2 marks)

Insights and Growth:
(Worth 2 marks)

-Discussion about the ways in which the writer?s personal experience of loss and grief might positively and/or negatively shape and impact nursing practice. Thorough and in-depth discussion about the ways in which the writer?s personal experience of loss and grief might shape and impact future nursing practice is provided.

(2 marks) Adequate discussion about the ways in which the writer?s personal experience of loss and grief might shape and impact future nursing practice is provided.

(1 mark) Discussion about the ways in which the writer?s personal experience of loss and grief might shape and impact future nursing practice is either lacking or superficial.

(0-.5 marks)

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