Proliferation of globalization and its impact on labor markets in advanced industrial nations and developing nations

The purpose of this paper is to provide insights into how the proliferation of globalization has impacted labor markets both in a advanced industrialized nations and well as developing nations. Insightful analysis will be drawn from Oatley (2011) on division of labor, Jaumotte & Tytell (2007) on labor compensation, Hahn & Narjoko (2013) on the impact on South Asian Countries, Basu (2016) on wage as a share of GDP and Wallace, Gauchat & Fullerton (2011) on the impact of globalization and labor markets on inequality

Analysis of Political Economy, International Political Economy, Globalization and its Importance to Public Finance.

The purpose of this paper is to provide an analysis of the discipline of political economy, international political economy and their respective historical developments. The paper will then focus on globalization and evaluate the strength and weaknesses of the policy to globalize. Further analysis will be conducted to show the importance of the topic of globalization as it relates to public finance. Rosen & Gayer (2014), Sackery, Schneider & Knoedler (2016), Marlin-Bennett (2017), Ravenhill (2008) and Weingast & Witman (2006) will provide insights into the development of the discipline and its modus operendi. The historical development of the discipline will be provided for by Ingram (1915) and the aforementioned authors will also provide insights into the weakness and strengths of the policy to globalize. Garett & Mitchell (2001) and Kumar (2006) will provide additional insights into the importance of globalization as it pertains to public finance

St. Thomas Aquinas and the development natural law in economics thought

Building on the system of reason provided for by the Greek philosopher and specifically Aristotle, St. Thomas Aquinas built a comprehensive system and theory of natural law which has lasted through the ages. The theory was further developed in the Middle Ages and in the Enlightenment Ages by many a prominent philosopher and economist and has been recognized in the Modern Age. The natural law-theory and system has been repeatedly applied to the spheres of economic thought and has produced many lasting contributions such as private property rights and individual rights. In recent times with the collapses of the financial system and rapid globalization, there has been a renewed interest in the application of natural law theory to economics to counter a certain anthropology and distortion of values created by a modern economic system of selfpreservation deriving its insights from the philosophies of Thomas Hobbes and Niccolo Machiavell

Impact of Devaluation on Trade Balance in Pakistan

The purpose of this paper is to find the impact of devaluation on trade balance in Pakistan in both long and short run using bound testing approach to Cointegration and Error Correction Mechanism (ECM). The result shows that devaluation is effective in improving trade balance and there is a cointegrated relationship between the real effective exchange rate and trade balance in the long run.

The Weight of Economic Growth and Urbanization on Electricity Demand in UAE

This study aims to explore the relationship between economic growth, urbanization, financial development and electricity consumption in case of United Arab Emirates. The study covers the time period of 1975-2011. We have applied the ARDL bounds testing to examine long run relationship between the variables in the presence of structural breaks. The VECM Granger causality is applied to investigate the direction of causal relationship between the variables. Our empirical exercise found cointegration between the series in case of United Arab Emirates. Further, results reveal that inverted U-shaped relationship is found between economic growth and electricity consumption i.e. economic growth raises electricity consumption initially and declines it after a threshold level of income per capita. Financial development adds in electricity consumption. The relationship between urbanization and electricity consumption is also inverted U-shaped. This implies that urbanization increases electricity consumption initially and after a threshold level of urbanization, electricity demand falls. The causality analysis finds feedback hypothesis between economic growth and electricity consumption i.e. economic growth and electricity consumption are interdependent. The bidirectional causality is found between financial development and electricity consumption. Economic growth and urbanization Granger cause each other. The feedback hypothesis is also found between urbanization and financial development, financial development and economic growth and same is true for electricity consumption and urbanization.

Design and implementation of hybrid vehicle using control of DC electric motor

The electric motors and its control technology are key components of hybrid electric vehicles (HEVs). Control of the electric motor is a fundamental issue for traction application in electric vehicles and HEVs. This paper presents the design, development and implementation of a hybrid vehicle using both an electric motor and petrol engine to increase efficiency and decrease carbon footprint. Initially, a prototype of a HEV is designed and the performance values are calculated, before a control system is developed and implemented to control the DC motor speed using a microcontroller as the vehicle’s electronic control unit along with simple proportional integral derivative (PID) control using speed as a feedback mechanism. The prototype made incorporated voltage, current, speed and torque sensors for feedback resulting in a closed loop control system which successfully matched the speed input of a user-controlled pedal sensor. A user interface was developed to show the driver of the vehicle key variables such as the revolutions per minute (RPM) of the motor, the speed of the vehicle along with the current being drawn, and the voltage applied to the motor with overall power. To output a variable voltage from the Arduino, a digital output was used with pulse width modulation (PWM) capabilities in order to provide a variable DC voltage to the speed controller

E-BANKING: A CASE STUDY OF ASKARI COMMERCIAL BANK PAKISTAN

This paper has covered the operational issues related to e-banking as well as customer’s perception on usage of e-banking a case study of Askari Bank, Pakistan. 40 staff members and four customers are selected as sample for this study. Both qualitative and quantitative methods are used to present the results. Descriptive statistics is applied to describe the demographic variables while for operational problems correlation was used. Finally cross case analysis present customers’ perception about e-banking practices. Analysis shows that customer is not ready to adopt new technology that why their satisfaction level with e-banking is low. Internet speed and government policies are not supportive for e-banking in Pakistan. Due to lack of trust on technology and low computer literacy rate, customer hesitates to adopt new technology. : In order to promote IT culture in Pakistan, government has to reduce the internet rate. to promote the benefits of e-banking on media so that more user get facilitated from e-banking services.E-banking, Internet, ATM, Online transaction, E-readiness, Technology Acceptance Models

Structural analysis of long arm excavator boom for optimization performance under maximum breakout condition

Long Arm Excavators are widely used in the construction site for excavating deep holes or trenches. However, due to the often-severe work conditions, such as large lifting loads, poor ground conditions to sustain the machine’s self-weight, Long Arm Excavator parts are subjected to constant wear and tear, incurring downtime losses and safety issues. The boom is considered the most critically affected part of the machine in these work conditions, where the high forces and unpredictable elements at the worksite could severely affect the machine’s overall performance. A potential solution is the reinforcement of the boom to improve its robustness. As an industrial collaborative project, the present study examines the performance of an existing machine with simulated improvement of the boom with such an approach, i.e. incorporation of stiffener reinforcement. Simulation works were carried out with Ansys Workbench 19.2 to assess the boom’s performance in terms of resulting stress, strain and deformation under a series of improved conditions, which include varying the dimensions and positions of the stiffeners on the boom. The improved conditions were Improvement I: stiffeners thickness reduction to 10mm, Improvement II: a combination of different stiffeners thickness reduction which 10mm and 8mm at critical and non-critical part of the boom, Improvement III: removal of half intermediate stiffeners thickness 12mm and Improvement IV: removal of half intermediate stiffeners thickness 8mm. Structural analysis was conducted based on the maximum breakout condition in which the excavator generates maximum digging force. From the analysis, it was found that the maximum equivalent stress of the boom decreased with the number of stiffeners. The combination of different stiffeners thickness could also increase the boom’s strength while decreasing the maximum equivalent stress. The lowest maximum equivalent stress of the boom was achieved via Improvement II with a reduction of 26.1% maximum equivalent stress. Removal of non-critical part stiffeners also kept stress values under the designated stress limits against fatigue failure, i.e. 44.49 MPa and 42.47 MPa (Improvement III and IV). In summary, the optimal design could be obtained with improvement II. This would effectively save on the manufacturing costs while maximizing the machine’s performance on-site, simultaneously reducing downtime and hence operating costs and time