Economics

The experiment is an observational study which aims at observing the differences between pregnant smokers, non-smokers and those who are ex-smokers and the difference in the results pertaining to birth weight, length, and head circumference of the babies.
The reduced production of the vasodilator nitric oxide (NO) in fetal vessels in pregnant smokers is the explanatory variable in the research, result in lower birth weight, length, and head circumference is the response variable while the confounding variable is the reduction of
blood flow to the foetus. The reduced production of the vasodilator nitric oxide (NO) in fetal vessels in pregnant smokers is the treatment. The observatory units for the research are people who are smokers, non-smokers and ex-smokers who are volunteers.
The research was carried out by observing the new born babies delivered by the three set of volunteers (smokers, non-smokers and ex-smokers) observing the babys weight, head circumference and their size. The result found was that Newborns of smokers had a lower weight (P_0.001) and a smaller head circumference (P_0.041) and were shorter (P_0.001) than newborns of nonsmokers and ex-smokers. eNOS activity in umbilical veins of smokers was 36 lower (P_0.001), eNOS concentration was 47 lower (P_0.001), and the fetal plasma level of high-density lipoprotein was 18 lower (P_0.001) than those of nonsmokers, whereas the same levels were found in umbilical veins from ex-smokers and nonsmokers(Anderson et al). This lead to the conclusion that maternal smoking reduces eNOS activity in the fetal vascular bed, contributing to retarded foetal growth which is as a result of the reduction of vasodilatory capacity, and suggest that cessation of smoking early in pregnancy prevents these effects in newborns. I agree with the conclusion of the author as the research was well carried out, with the author following the right process required of an observational research.

1. The nations first paper money known as continental was printed to finance the American Revolution. Produced by the Continental Congress, the fiat money notes were issued in large quantity that they led to inflation. People eventually lost faith in the notes giving birth to the phrase not worth a continental which means utterly worthless.
2. The Federal Reserve System was born in 1913. President Woodrow Wilson signed the Federal Reserve Act studied, created, and reviewed by Virginia Rep. Carter Glass and adviser H. Parker Willis.
3. Located in Washington D.C., the Board of Governors leads the Federal Reserve System. There are seven governors in the board, each appointed by the President and confirmed by the Senate.
4. The Federal Reserve System has approximately 3,000 member banks composed of 38 of the commercial banks in the United States. There are also about 17,000 other depository institutions that are subject to the regulations of the System.
5. The Federal Reserve has three instruments of monetary policy namely open market operations, the discount rate, and reserve requirements. Open market means that instead of the FED deciding on which securities dealers it will do business with, the choice emerges from various dealers who would compete on the basis of price.
6. The Federal Reserve also acts as a fiscal agent. It serves as a bank to the federal government providing financial services to the United States Department of Treasury. It also sells and redeems government securities such as Saving Bonds and Treasury Bills.
7. Reserve Bank presidents are obliged to retire by the age of 65. Those who are initially appointed after the age of 55 however, can, with the decision of the board of directors, be permitted to continue serving until the age of 70 or until they reach 10 years of service, whichever comes first.
8. There are three advisory councils that advise the Board of Directors directly. They are the Federal Advisory Council, Consumer Advisory Council, and the Thrift Institutions Advisory Council. Aside from these, there are also other committees that consult with individual Reserve Banks on matters such as agriculture and small business.
9. The Federal Advisory Council members meet with the Board of Governors four times a year to discuss economic and banking matters. Members of the Council come from each Reserve District and are most commonly commercial bankers.
10. The first attempt to centralize banking came in the form of the First Bank of the United States with headquarters in Philadelphia. It was established by the Congress in 1971 at the urging of Alexander Hamilton, the Secretary of Treasury. In 1811, the banks 20-year charter expired and the Congress refused to renew it by just one vote.

As a student who values a healthy, excellent, and holistic academic environment, I chose to apply in George Washington University to major in economics. Because GW sits at the heart of where American government, policies, and laws are shaped and implemented, I believe I have made the right choice.
    I have aspired for higher learning that is why a college diploma will be a big achievement for me. However, what I deem is an excellent education. With GW, I know this is possible as evidenced by its strong academic programs and top-notch faculty. Learning economics in this institution will be more than studying economic theories and theorists but the more important practical applications in the field combined with cross-disciplinary educational opportunities. In fact, I am thrilled to experience the real-world learning GW prides itself with as this will allow me to be hands-on and have a firsthand encounter in the field I chose. This will develop my personal and professional skills needed to thrive in a competitive and global economic world. This will also increase my chance of acquiring a future employment that is in line with my skills and experiential learning. Furthermore, this institution is home to high-caliber professors who are industry movers and shakers, thus, sharing a classroom with them will not only mean knowledge on current and past economic issues and perspectives to me and my classmates but honor and pride to us as well. Moreover, this University gives apt freedom for me to do academic research, one thing that I am passionate about. Hence, this scholastic autonomy will allow me to venture out in an academic journey suited for my personal and professional goals. Consequently, I treasure education outside the four walls of the classroom that is why given the opportunity, I wish to take part in a study abroad program to gain exposure and understanding of different economic cultures, policies, and points-of-view, which will enhance my own perspectives and worldview on my way to becoming a competitive professional.
    However, before experiencing all these opportunities for academic growth, I will need utmost help in adjusting to a whole new environment. With this, I know I will not encounter much difficulty as GW has designed a supportive guide for first-year students to ease the stresses of transitioning and studying at the same time. Additionally, I give importance to my social development and training. I deem that the two vibrant campuses of GW will enable me to meet new faces and personalities with its diverse student population. Meeting such multicultural student body will not only widen my contacts for future use but also create an awareness and understanding of the similarities and differences between and among cultures and lifestyles. With its location unlike any other academic institution, GW will offer me the opportunity to participate in educational, sports, and recreational activities with its proximity to museums, research laboratories, and federal parks. The vibrant activities for student involvement inside the campus also caught my eye. I have been involved in various activities in school and in my community and would want to continue this by joining organizations and communities in GW with causes that I personally believe in. Needless to say, the on-campus fun and recreational activities and events will also ease the pressure from all the studying. Finally, GWs high regard for sports also attracted me as I wish to pursue my love for health and fitness through physical activities.
    With all these beneficial factors, it is only fitting that I pursue higher learning in a university that will develop my skills in all aspects for personal, professional, and holistic growth in order to prepare me for a competitive and global world in the future. 
    With a goal to make it big and be an economic leader in the future, I deem an excellent education that comes from a great leader and innovator in the academic field as the most significant factor in molding my skills and enhancing my capabilities to their maximum potential. I have fortunately found this in Carnegie Mellon University.
    I am applying to major in Economics. With CMU, I believe I will have the opportunity to be equipped with adequate knowledge and understanding of how economies work in various regimes with the academic program that the University has designed. Additionally, as a student, I will have the opportunity to learn about other disciplines and fields with the Institutions interdisciplinary collaboration that will aid and supplement the economic theories and applications that I will learn from economics classes. This is significant as truly, economics co-exists with other fields and disciplines that affect the lives of people. Furthermore, the academic environment in CMU is professional and intellectual as its pool of educators are the best in their fields. Thus, being educated by these brilliant minds will bring not only theoretical learning but more so real-world applications and perspectives. Moreover, as home to numerous centers and institutes and known for being a global research university, my passion for research will be honed in CMU as it will give me the freedom to search for solutions to better and further todays economic and daily problems. In addition, the opportunity to learn outside CMU through study-abroad programs appeals to me. As a traveler myself, I value the experiential learning and different points-of-view of other people and cultures. I recognize that there is an opinion or tradition other than the ones I know and I am open and willing to know these. Hence, a term or a year learning other countries economies and cultures will make me a global and competitive student ready to face the big world as a future professional.
    Aside from the academic benefits offered within the bounds of CMU classrooms, the opportunities for growth outside are also plenty. In the campus alone, events and activities that I can take part in abound. Enhancing social skills and community involvement will be possible with student organizations. More importantly for me, physical and mental development will be maximized with fitness classes, recreational programs, and sports competitions. I have been a health and fitness enthusiast for the past years and knowing that CMU will allow me to practice my physical skills, enhance my strengths, and promote my wellness makes the University a healthy and fitting choice. Additionally, the CMU environment is one that is safe, secure, and supportive as evidenced by the presence of various health, medical, and psychological services and safety and security programs and centers, thereby, making my future adjustment and transitioning to college life easy and less stressful.
Meanwhile, outside the campus, Pittsburgh environment will give me the opportunity to experience culture with art and history museums and centers sports with Pittsburghs prides in baseball, football, and hockey and nature with the surrounding zoos, aviaries, and parks. All these will enable me to take my mind off the pressures of academics and relax and enjoy the experience of CMU life.
All these factors, namely, excellent academic and research programs and opportunities, healthy environment, and recreational time have made me chose Carnegie Mellon University. I believe the school has a lot to offer to me consequently, I also have a lot to contribute to this University.

Current Account is one of the two components of Balance of Payments, the other one being the Capital Account. The Current Account balance measures a countrys nature of foreign trade. A surplus in current account increases a countrys net foreign asset by a certain amount whereas a current account deficit is the amount that the country does not have in order to finance its current expenditures. A current account comprises of balance of trade, net factor income and net unilateral transfers from abroad. Balance of trade is a countrys difference between its imports and exports. Net factor income is the net amount of foreign inflows. From 1991 to 2006, the US current account deficit has risen from 0 to 6.5. Coupled with the increase in domestic consumption in US, one of the reasons behind the increase in the current account deficit is a major import of goods and services from China and other Asian economies. Oil imports and increasing oil prices till 2008 also added pressure on US current account. Running a high current account deficit for prolonged periods can have serious consequences for an economy. US till now has been successfully able to finance its deficit by raising debt through T-bills  Bonds in the international markets. Main holders of the US debt are Asian economies like Japan, China  Korea. By selling more debt to foreign economies, US is providing greater control to these nations over dollar. If a few nations start to liquidate their dollar holdings or convert them to some other currency or commodities like gold, it can result in an economic chaos and make extremely difficult for US to finance the deficit from international markets. However, to bring the situation under control, US will have to change its economys dynamics by shifting from a consumption based economy to a saving based economy and therefore, a slight increase in Fed rates is required. The recent weakening in dollar has done little to slow down the further deterioration of deficit. US will also have to reduce its reliance on imports and reduce its federal budget as it is expected to boost domestic savings.

Officially referred to as the Swiss confederation, Switzerland follows the federal system of government where it is constituted of twenty three Cantons. It falls within central Europe bordering France to the West and Germany northwards. Health indexes collected in 1994 revealed that the countrys life expectancy stood at 78.8 years with an excellent record with regard to infant mortality rate that was placed at five in one thousand live births. At the forefront of its causes of death were neoplasms which were estimated to cause 182 deaths per every 10,000 population unit and ischemic heart disease with a standard death rate (SDR) of approximately 100 together with cerebrovascular diseases which accounted for 48.8 of death. 57.8 per a ten thousand population were attributed to external causes (European Observatory on Health Care Systems, 2000).
The federal government in Switzerland is charged with the fight against communicable diseases of both humans and animals. This government duty is further exemplified through legislated ordinances. In addition, the government is also responsible for promoting sports as well as exercise and the provision of social insurance. Accreditation of medical practitioners and enhancement of scientific research, tertiary education, transplant medicine, genetic engineering and reproductive health are all placed under the governments arm. Lastly the government is also charged with compiling statistics on health, compelling employers to make the work place secure for workers and protecting the environment (Swiss Federal Office for Public Health, 1999).
The healthcare system in Switzerland is both liberalized and decentralized. As such providers are at liberty to locate at a place of their own choosing. The citizenry are also at liberty to select their choice of providers within a canton. Medical institutions are only eligible for re-compensation for services that are clearly stated within the compulsory Health insurance policy. The primary benefits list which constitutes mandatory services of the health insurance policy are all exemplified in law. Cantons such as Basle and Zurich have a legal backing to tame oversupply of doctors by invoking this clause upon universities to implement aptitude tests to students seeking to study medicine. The Swiss Federal Department of Home Affairs are mandated to select medical drugs constituted in the mandatory health insurance together with their price.
One aspect that the US health care system can borrow from the Swiss system is the policy of one price. Under the Swiss system everyone contributes the same for the compulsory health insurance (400 francs). This is irrespective of ones salary. In America though the healthcare offered was of utmost quality the price that one has to pay for those services is dear. This is likely to gain the poor who are engrossed in extremely burdensome medical conditions. A case in mind is the one of a Swiss family that was living in America but couldnt afford the quality but expensive medical program in Washington to their daughter who was suffering from juvenile schizophrenia. They relocated to Zurich and paid cheaply for the best that the system could offer their daughter in a facility specially formulated for young psychotics. There costs were covered by the Insurance. This would be practically viable for the US as poor people who can not sustain themselves in its expensive healthcare system will at least have an option while the rich who consider the offered services beneath them will still have the option of going to seek the sophisticated and efficient care.
Under Switzerlands law insurers are restricted from running the healthcare insurance as a business on the primary healthcare plan. Its citizens however are at liberty to reset their premium upwards or downwards by choosing an increased or reduced perennial deductible ( HYPERLINK httpwww.npr.orgtemplatesstorystory.phpstoryId2101102 Rovner 2008). The individuals are also allowed to join the formulated HMO-type which primarily is allows them to roam within the system and choose a medical practitioner of their own liking in the network. If these are enacted within the American system it will enable citizens to select the doctors that they can trust.