Summarry scent of apples Essay Example for Free

Summarry scent of apples Essay Job Method With Job production, the complete task is handled by a single worker or group of workers. Jobs can be small-scale/low technology as well as complex/high technology. Low technology jobs: here the organization of production is extremely simply, with the required skills and equipment easily obtainable. This method enables customers specific requirements to be included, often as the job progresses. Examples include: hairdressers; tailoring High technology jobs: high technology jobs involve much greater complexity and therefore present greater management challenge. The important ingredient in high-technology job production isproject management, or project control. The essential features of good project control for a job are: Clear definitions of objectives- how should the job progress (milestones, dates, stages) Decision-making process how are decisions taking about the needs of each process in the job, labour and other resources Examples of high technology / complex jobs: film production; large construction projects (e.g. the Millennium Dome) Batch Method As businesses grow and production volumes increase, it is not unusual to see the production process organised so that Batch methods can be used. Batch methods require that the work for any task is divided into parts or operations. Each operation is completed through the whole batch before the next operation is performed. By using the batch method, it is possible to achieve specialisation of labour. Capital expenditure can also be kept lower although careful planning is required to ensure that production equipment is not idle. The main aims of the batch method are, therefore, to: Concentrate skills (specialisation) Achieve high equipment utilisation This technique is probably the most commonly used method for organising manufacture. A good example is the production of electronic instruments. Batch methods are not without their problems. There is a high probability of poor work flow, particularly if the batches are not of the optimal size or if there is a significant difference in productivity by each operation in the process. Batch methods often result in the build up of significant work in progress or stocks (i.e. completed batches waiting for their turn to be  worked on in the next operation). Flow Methods Flow methods are similar to batch methods except that the problem of rest/idle production/batch queuing is eliminated. Flow has been defined as a method of production organisation where the task is worked on continuously or where the processing of material is continuous and progressive, The aims of flow methods are: -Improved work material flow -Reduced need for labour skills Added value / completed work faster Flow methods mean that as work on a task at a particular stage is complete, it must be passed directly to the next stage for processing without waiting for the remaining tasks in the batch. When it arrives at the next stage, work must start immediately on the next process. In order for the flow to be smooth, the times that each task requires on each stage must be of equal length and there should be no movement off the flow production line. In theory, therefore, any fault or error at a particular stage In order that flow methods can work well, several requirements must be met: (1) There must be substantially constant demand If demand is unpredictable or irregular, then the flow production line can lead to a substantial build up of stocks and possibility storage difficulties. Many businesses using flow methods get round this problem by building for stock i.e. keeping the flow line working during quiet periods of demand so that output can be produced efficiently. (2) The product and/or production tasks must be standardised Flow methods are inflexible they cannot deal effectively with variations in the product (although some variety can be accomplished through applying different finishes, decorations etc at the end of the production line). (3) Materials used in production must be to specification and delivered on time Since the flow production line is working continuously, it is not a good idea to use materials that vary in style, form or quality. Similarly, if the required materials are not available, then the whole production line will come to a close with potentially serious cost consequences. (4) Each operation in  the production flow must be carefully defined and recorded in detail (5) The output from each stage of the flow must conform to quality standards Since the output from each stage moves forward continuously, there is no room for sub-standard output to be re-worked (compare this with job or batch production where it is possible to compensate for a lack of quality by doing some extra work on the job or the batch before it is completed). The achievement of a successful production flow line requires considerable planning, particularly in ensuring that the correct production materials are delivered on time and that operations in the flow are of equal duration.

Development of Air Compressor Lubrication

Development of Air Compressor Lubrication In this project, the mission which needs to be accomplished is to investigate the relentless root cause of such failure and to give useful recommendations which can help to avoid such failures in the reciprocating compressor under study in the future. An engine driven auxiliary air compressor failed, the air compressor is located in the Hawke workshop. The first stage will be to establish details about the compressor, the manufacturer and how the compressor works. Classification of compressors and types will be also discussed and of course the theory of operation. Collecting components failed in order to be examined subsequently for the failure cause or causes this will be held using a variety of methods. NDE (non-distractive examination) or NDT (non-destructive testing) is valuable way to use for preliminary inspection of the failed parts without damaging it. DT (destructive test) is another way to check and inspect parts but this inspection method appears from its name it lead do d estructive damage the tested parts which will be no longer able to be used. Fatigue principles also will be showed. Studying all the above will gave a clear idea about the cause of the damage. Discussion of the probable causes for the failure well be performed in the following chapters as well as the conclusion obtained from study conducted. 1.1 Introduction Air compressor producing is return for long time ago. The main idea of compressing air and discharge it used by the ancient in deferent ways. The first usage for the air compressor is increasing the combustion of furnace. The air compressor is raising the heat of the furnace by bellowed compressed air to it. Moreover, the main products got from these furnaces are metals and weapons. Muscles were the main power source for the air compressor. The below figure shows the old air compressor. That kind of old air compressors still used in different productions. This project will investigate and analysis a failure happened in an air compressor. This investigation will be done in several ways to figure out the cause of the failure. Air compressor is a machine has the ability to compress the air and release it to convert the electrical power to kinetic energy to use it in several industrials and usages. Air compressor is consisting of many components. These components are electrical motor, pistons, air pump, air receiver, air drier, filters, air pressure regulator and pressure switch. All of these components will be discussed in details in the next chapters. There are also types of air compressor will be discussed later. 1.2 Background The case which had here is a failure in an air compressor. From the first sight on the damage happened in it, it seems to be that the failure happened in the connecting rod and its obvious from the below figure number 3. This figure shows that the failure happened in the connecting rod from the ring part which connected to a crank shaft. But the reason for this failure is unknown as there are several scenarios could be adopted. The first scenario is the fatigue is the reason for this failure. The second scenario is a very heavy pressure loaded to the compressor which led to that failure. These are the most expected scenarios which will be investigated later in this project to figure out the reason of the failure. 1.3 Amis and objectives Aims: The main aim of this graduation project is to investigate and discover the cause or the causes of failure of diesel engine driven auxiliary reciprocating air compressor made by Knorr-Bremse, model number is LP 4865. This will be achieved by carrying out the below objectives, once its achieved, the main aim of the project will be achieved. Project objectives: Collecting valuable information about, model number is LP 4, this will include: design of compressor, design of each part, construction materials of each part, operation principles, working theory, production range..etc. collecting data will help to recognize main failure cause, and accordingly to prepare new procedure to eliminate the problem, to decrease the opportunity of failure occurrence in the future, use greater safety factor and to recognize the person or the entity responsible for failure and to make mistake proofing for future avoidance of the failure. Collecting this background information is not limited to numbers only but it is should be extended to everything such as pictures, charts and graphs and samples. Investigating operational parameters, history of operation, nature of operation..etc in order to be able to determine precisely the root cause of such failure and which failure mode it follows. Physical investigation or macroscopic inspection should be carried out. This mission includes photo capturing, code of the product, model number, lot number, batch number and serial number. Perform compressor disassembly in order to dismantle each component, part, assemblies and sub-assemblies to perform through investigation and inspection of each. Its should be mentioned that necessary tests and analyses should be performed; mainly the manufacturer usually has his own procedures and tests for test and inspection. 2.0 Air Compressor What is the air compressor? Air compressor is a machine that converts electric power to kinetic energy (motion). This energy comes from pressurizing and compressing air. After that, the compressed air goes into a chamber, and the air kept in the chamber by unidirectional valve. There are many types of compressors these types are: reciprocating compressor, rotary screw compressor and centrifugal compressor. These types will be explained in details below. 2.1 Reciprocating compressor: Reciprocating air compressor is positive displacement compressor. This compressor sucks a volume of air and presses it with high pressure. This pressure done by using a piston and cylinder as movement part and displacement part. The compressor could be single acting or double acting according to its accomplish by using one side or both side. When the pressure difference between the cylinder and the receiver became proper, the valves open. Inlet valves open when the pressure in the cylinder is slightly below the intake pressure. Discharge valves open when the pressure in the cylinder is slightly above the discharge pressure. The compressor could be a single stage when the compression process done parallel. Advantages: Simple design. Lower initial cost. Easy to install. High efficiency with 2 stages. No need for lubrication. Large range of horsepower. Disadvantages: Maintenance cost is high. Many moving parts. Vibration problems. Foundation maybe required. Not running at full capacity all the time. 2.2 Rotary screw compressor: Also Rotary air compressor is a positive displacement compressor. Single stage helical or spiral lobe oil flooded screw is the most common in rotary air compressor. This compressor is consisting of 2 rotors located in a case where the air is compressed internally without any valves. The cooling for these compressors done by oil. As the cooling for the working parts happened inside the compressor, this type of compressor will not experience over heat due to operation, so it could operate without stop. Due to the simple design of the rotary screw compressor and its parts it can be maintained easily and installed any where could handle its static weight. The 2 stages rotary air compressor uses 2 rotors with a combined air end. This 2 rotors installed in series to share the compression. This raise up the efficiency with 50%. This 2 stage rotary compressor combined the maximum profit from the rotary screw with its simplicity and flexibility and the reciprocating compressor with its effect ive energy when it works 2 stages with double acting. The 2 stages of this compressor could be cooled by water, air or oil. The cooling system for this compressor could be oil, air and water. Advantages: Simple design. Low initial cost. Low maintenance cost. Good efficiency at 2 stages. Easy to install. Few moving parts. Common in use. Disadvantages: Limited life for airend. Service for airend couldnt be done at field. High rotational speeds. Must be oil lubricated. Single stage has low efficiency. 2.3 Centrifugal compressor: The centrifugal air compressor is a dynamic compressor that depends on transfer of energy from a rotating impeller to the air. This done by changing the airs momentum and pressure. By slowing the air in stationary diffuser the momentum converted to pressure. This compressor is oil free compressor. There is a separation between the lubricated oil and air by shaft seals and atmospheric vents. Where the high volume of dry air is required a centrifugal compressor is the proper compressor as it has a few moving parts and could operate continuously. 2.4 Rotary Sliding Vane Compressors: Rotary sliding Vane Compressor is also a positive displacement compressor. This type of compressor is consisting of rotor and stator and eight blades. Between the intake and exhouset valves a cresent shape formed by the location of the rotor and stator. The compression achieved by one complete rotation as the volume changed from the maximum to minimum. Vanes are pushed outward against the stator walls. Injecting oil from the intake valve and along the stator wall to cool the air and make a sealing between the stator wall and vans and also to lubricate bearings. So that a filtration system must be installed to separates the oil from the compressed air. Advantages: Simple design. Easy to install. Low cost. Maintenance cost is low. Reliable. Few moving parts. Disadvantages: Single stage. Low efficiency. Must lubricate with oil. Difficult with over pressure. 2.5 Main Component of Air compressor in general: The system could be installed in 2 methods. The first method is where air drier before receiver tank. The second method is where the air drier after the receiver tank. These components will explained in details in the below paragraph. Receiver tank: From its name receiver tank is a tank that receives the discharged air. It helps to prevent rapid compressor cycling by providing a storage capacity. The advantage for the receiver tank is reducing the wear and tear in motor, inlet control system and compression module. It also eliminate the flow pulsing. Air Dryers: there are 3 types of air dryer. The main objective for air dryers is to dry the air to prevent rust and wearing in the air compressor components and discharge line. These types are: Refrigerated air dryers: This dryer used a mechanical technique to remove moisture from compressed air and cooling it and condense water. Desiccant dryers: This dryer is absorbing water vapour by using utilizes chemical drops called desiccant. The common desiccants used in this dryer are silica gel, molecular sieve and activated alumina. Deliquescent air dryers: This type of dryer using desiccant to dry compressed air. The wetness in the compressed air reacted with the absorption material and turned into liquid which drained from the dryer. This process could be corrosive so the corrosion check has to be done. Filters: Filters are installed to remove the lubricants and water from the compressed air. It could be installed downstream at refrigerated air dryer or upstream at desiccant dryer. The most common in filters is coalescing filter. But this filter it only can remove liquid and water which have been previously condensed. Piping Distribution systems: Piping distribution system is controlling in how the compressed air go out to the tools and also determined the required energy for the air compressor. 2.6 The reciprocating air compressor (knorr-bremse, model lp 4865) The main study object in this project as said before is to study the reciprocating air compressor (knorr-bremse lp 4865). By searching the internet and try to get information about the air compressor which needed to complete this study but unfortunately the required information couldnt be found except its maximum pressure 12 bar and volume 460 . So the general information about the reciprocating air compressor will be mentioned instead of the specific air compressor. There are 9 main parts for the reciprocating air compressor these parts are: Crank case: Crank case is a close rigid body where the crank shaft and the bearing house where located. This body could by rectangular or square shape. Mainly crank case formed by using cast iron. Crank Shaft: Crank shaft in one of the most important parts in air compressor. It is a motion transferor. It designed as one piece has balance in its dynamics and tries to avoid any twisting. To ensure a long life for bearings, the polishing and crank pin will be done. Generally crank shafts have a fly wheel. This crank shaft manufactured mainly of high grade S.G iron. Connecting rod: This part is responsible of transfer the motion from the crank shaft to the piston and changing the direction from the rotating motion come from the crank shaft into reciprocating motion in piston. This part is mainly forged of alloy steel. Bearings: Bearings are made to provide the rotating gear with rigidity. Its mainly manufactured of copper lead alloy. Cross slide: to get a perfect running for cross head, this part is responsible for reduce the inertia. This part is commonly manufactured of high grade S.G. iron. Cylinder: This part is where the air flow passes and compressed. Cylinders are manufactured with water jacket to reduce the generated heat from the compression process. This cylinder mainly made of cast iron. Pistons: Piston is the main part in the compression process, which move forward to compress the air and backward to intake a new air amount to compress. There are 2 types of piston according to its lubrication system, the first type is non-lubricated which made from aluminium alloy, and the second type which is lubricated is made from cast iron. Due to moving of piston in the cylinder, so there must a space exist between them, to ensure there is no leak happened for air a piston rings located on piston. Piston rod: Piston rod is this rod which connects the piston to the connecting rod. The piston rod is manufactured of alloy steel. Intake and discharge valves: These valves are responsible for the amount of air sucked or discharged. When the piston in the retraction position the suction valve open to allow the air to get in. when the piston move forward and reach the maximum pressure the discharge valve open. These 2 valves are adjusted to be opened and closed according to the pressure difference between inside the cylinder and the outside. These valves are made from stainless steel even a plate type or spring type. 2.7 Air Compressor Lubrication Due to the operation of the air compressors which have different moving parts, a friction must be occurring. This friction generates heat and not just that it leads to part wearing which probably lead to a failure. And some time a kind of sealing need to be installed to prevent the compressed air from leaking. All of these reasons lead to using lubrication. Oil lubrication is a must in air compressors to overcome all above problems. The lubrication method could be different from type to another, but the main idea is to prevent the friction between moving parts like lubricate the bearings, or at the same time in some cases like reciprocating air compressor it also works like sealing between the cylinder wall and the piston. The problem in lubricate the air compressor is the selection of the proper oil. The selected oil must be industrial oil with high quality and matching the operation requirements. The environment of where the compressor will be installed is one of the parameter of s electing the lubrication oil, if the environment is too cold and the temperature is low the frizzing point, an anti-frizz oil must be use. If the environment is too hot oil with high viscosity and ability to heat resistance must be used. All of these restrictions must be considered while selecting the lubricant. These are the main idea of lubrications but the implementation is different according to each type of air compressor. The lubrication system changes from one type of air compressor to another according to the operation theory of it. 3.0 Quality assurance for the manufacturing process Air compressors are designed to work in both the industrial and the privet fields, it designed to press gas or pressured air. During the air compressor operations leak or failure maybe happened and this will lead to a serious damage. The quality assurance purpose is to guarantee if the production is safe and ready to use or if rejected and have defects. This operation done by two methods the first one is the destructive test which means that the tested object will be destructed and no longer could be used and this type used in the initial design and on the first production to be sure of it. The second test is called the non-destructive test (NDT) which means we can make our test and be sure if the production is good to use or not without destructing the production. This type (NDT) what we are going to focus on because its the most common method in inspection. The definition of the NDT is its a test methods used to examine an object without impairing its future usefulness. There are a several methods in NDT used like: Visual Microwave Thermograph Tap testing X-ray Magnetic particles Acoustic Microscopy Acoustic emission Magnetic measurements Liquid penetrate Ultrasonic Flux Leakage Eddy current Replication Laser interferometer All of the above methods are used in NDT, but in our case we will go to use the common methods and try to clarify its operation and how to use. Visual inspection: It the most common and basic inspection method. In this method we can use fiberscope, bore scopes, magnifying glasses and mirrors. Another technology could be used as electronic microscopes have the ability to enter the narrow places inside the air compressor. Magnetic Particle Inspection: This inspection could be done by magnetize the inspection part. After that coloured particles of iron covered the inspection area. These particles of iron will spread to the magnetic flux and show the discontinuity area. By applying the proper light this inspection could be checked by visual.splinedflour Radiography: To perform this check a shot waves with high energy is used. Radioactive source or X-ray machine could generate such waves. The part which will be tested will be located between the radiation source and a film. This part will prevent some of the radiation. Thick areas will stop more waves. This will lead to variation on the film darkness the thick part will be less dark and the thin or cracked part will be more darker.RAD1Casting CastingRad Eddy Current Testing: This type of test is used to discover the crakes on the surfaces. It also could be used to test the thickness of coating of the surfaces.eddy.PNG Ultrasonic Inspection: To use this test a high frequency sound wave is applied to the surface of the part. These waves are reflected waves which will be reflected from any crack inside the material. This sound wave are reflected into the device which will show the reflection time on a gage this gage could show the depth of the crack by time of reflection. It could also be connecting to a computer by using a computer program which will draw a diagram of the part and the crack location. Liquid Penetrate Inspection: To apply this type of test a liquid with high moistening spread over the tested part and gave time to leak into the crakes. After that the rest of liquid is removed from the surface. After that a special powder spread over the surface to get the stuck liquid out from the crack. The crack will appear and could be discovers by eye. To increase the sensitivity and accuracy of this test it could be done under ultra violet light. For the above types of NDT there is some common application where they also could be used: Inspection of Raw Products: Forgings. Castings. Extrusions. Inspection Following Secondary Processing: Machining. Welding. Grinding. Heat treating. Plating. In-Services Damage Inspection: Cracking. Corrosion. Erosion/Wear. Heat Damage. 3.1 Fatigue The strength of the product is the most important safety factor. To be sure that the product will be safe and could stand the applied loads safety factor must be added to the design. During the operation, parts experience a non-constant loads which lead failure along with time. Fatigue could be defined as a failure happened due to a rapid variation in loads, but without any of this load variations exceed the maximum load. This type of failure happened commonly in metallic materials not only but also in different materials. There are 3 stagers for Fatigue, these stages are: 1. Initial crack. 2. Propagation of crack. 3. Final fracture. 3.2 How to analysis fatigue to prevent it Component material and stress field are the main 2 principals that govern the amount of time needed for crack to start and spread accusing a failure. There are 3 main methods to calculate the fatigue time, these method are: SN Method: To predict a fatigue life for a part stress life approach could be used. This method gave the fatigue life for the object. This method is depending on the calculation of varying elastic strength so it couldnt be applied to low fatigue cycle. But this type of test is very accurate at high fatigue cycles. EN Method: This method is using plastic stress to calculate not only the fatigue life but also the crack penetration. The advantage of this method is that it could be used for calculating the fatigue in low life cycle and plastic life cycle also. LEFM Method: Linear Elastic Fracture Mechanics is used to calculate crack growth rates. This approach assumes that a crack is already present and predicts crack growth with respect to the stress intensity at the crack tip. 3.3 Fatigues in Aluminium From previous fatigue studies done on aluminium, it seems to be that aluminium is a very good material with high resistance to fatigue. These studies which done on a certain alloy of aluminium, but in general the heat treatment for aluminium lead to a significant in the fatigue life. Heat treatment also give aluminium high strength, excellent toughness and reasonable ductile. The crack initial behaviour of aluminium took place from the surface just like many metals and alloys. 3.4 Aluminium Properties To be familiar with Aluminium some properties must be considered and known, these properties are: Youngs Modulus: 70 GPa. Ductility Malleability: High. Hardness: 420 MPa. Density: Low 2700 kg / cubic metre. Melting Point: 660.32 ÂÂ °C Boiling Point: 2519 ÂÂ °C. Electrical Resistivity: Low 2.65 x 10-8 Ohm metres. Reflectivity: High 71% unpolished and when polished: 97% . All of these properties gave a clue that Aluminium is the metal of the modern world. With its strong, lightweight, ductile and reflective it could be used for several industries and accomplish a great results. 4.0 Problem Analysis The first problem in this study is that damage which happened in the connecting rod from ring which connected with crack shaft. As said in the background, there are 2 scenarios leads to this damage. The first scenario is a fatigue accrues in the connecting rod with lead to this damage as it couldnt stand the motion and the pressure any more. The second scenario is an excessive pressure more than the maximum pressure which could be hold by the compressor. At the same time a malfunction in the discharge happened, and this could be taken in consider as it must opened at slightly below the maximum pressure. In both scenarios, the damage in the connecting rod lead to another greater damage in the piston and the cylinder, as the piston start to move in non-liner motion and hitting the cylinder wall. This leads to a serious damage in the compressors piston and cylinder. The second problem is gathering the information about the air compressor Knorr-Bremse Lp 4865. This problem happened as the manufactured company keep the information about this compressor not listed and its material and properties to figure out the reason of the damage, maybe by knowing its maximum pressure or material type to check the fatigue on it. 4.1 Problem Solution After studying all sercomestances and what happened during the failure happened, it seems that the failure happened due to a serious fatigue which is not noticed in a previous time. This fatigue happened to the aluminium alloy which connecting rod made from. An analysis done for the particles and it shows that the particles is consist of 88% aluminium. This gave a thought about how serious was the fatigue in this movable part. As the connecting rod is responsible for transfer the power and motion from crank shaft to the piston, it experiences a load variation all the operation time. A crack must happened time ago on the surface of the connecting rod and it start to spread and choose the weakest area which is the ring where the crank shaft is hinged. This particular area is the weakest area in connecting rod as the thickness reduced to attach the crank shaft. To overcome the second problem a deeply internet search is made with trying to contact with the manufactured company through their website www.knorr-bremse.com, but with no result. So another technique implemented, which is gathering common information about reciprocating air compressor and its common parts and materials. This could be useful but not accoutre. There are 2 appendices attached to the project which have some data about the parts and how to maintain it gathered from the company itself. 4.2 Results As a final result of this project, the damage which happened in the connecting rod accusing damage on the rest of parts is happened due to a fatigue. After the fatigue weak the connecting rod it reached a phase that the connecting rod couldnt stand any load. Just after the failure the piston starts to hit the cylinder wall, which accuses the obvious damage on the piston and the piston rings. To prevent such a failure in the future a regular check must be done for the concerning parts as scheduled in the producers manual. A life time calculation for all parts must also be done and make the replacement in its time. These procedures are going to prevent such a failure to happen again.

Tarasoff v. Regents of University of California

Tarasoff v. Regents of University of California An ethical dilemma alludes to the mental conflict that emerges from differing moral goals. Confidentiality and the safeguarding all private information is essential in healthcare especially about the treatment of mental illness. Because of the privatization of mental health treatment coupled with the closing of many state institutions, emergency department doctors and nurses are often faced with patients who are a danger to themselves, family members.   A breach in privacy can negate the trust between the provider and the patient and lead to negative outcomes and legal issues however, concern for public safety must also be considered. The duty to warn others of the potential commitment of violent acts came to the forefront of healthcare in 1974(amended in 1976) in the case of Tarasoff v. Regents of University of California (Henderson, 2015). Details of the case Tarasoff v. Regents of the University of California, was a landmark case that dealt with the duty of mental health providers to notify those individuals who are threatened with harm. The Supreme Court in California heard The Tarasoff cased, which dealt with a complex area of tort law regarding duty owed of a medical provider to an individual to whom a threat of harm has been made. In 1969, while attending the University of California, Berkeley as an exchange student, Prosenjit Poddar met Tatiana Tarasoff.  Ã‚   After the demise of the relationship, Poddar became increasingly despondent and obsessed with Tarasoff. During this time, Poddar began outpatient treatment and was subsequently diagnosed with paranoid schizophrenia by a psychologist at Berkley, Dr. Lawrence Moore. It was during one of the treatment sessions, Poddar that discussed his intention to harm an unidentified female. Although the intended victim was not named directly, Tarasoff was easily identified.   Dr. Moore, concerned for the safety of Tarasoff, requested to have Poddar detained by campus police. Dr. Moore then requested to have Poddar involuntarily committed, believing that he was suffering from an acute episode of paranoid schizophrenia. Poddar was detained by campus security but was released after a brief interview during which time he answered questions rationally. Poddar was warned to stay away from Tarasoff with no further action taken. After the release, Dr. Harvey Powelson, medical ordered the destruction of all notes taken by Dr. Moore as well as the returns of all letters from the police.   Tarasoff nor her parents were not notified of the threat. On October 27, 1969 Poddar viciously attacked Tarasoff, causing her death. Tarasoffs parents filed a lawsuit against Dr. Moore and employees at the University alleging that Poddar had confided his intention to kill Tarasoff, Additionally Dr.   Moore nor his associates failed to warn the Tarasoff family of the imminent threat against Tatiana. At trial, Poddar was convicted of second-degree murder.   The wide-ranging implications of the case focus on the health care provider-patient relationship. Because of this landmark case, health care providers have the duty to protect potential victims from harm caused by the patients under their care. As of 2014, thirty-three states have instituted a duty to warn law (Henderson, 2015). Defendants Argument Dr. Moore argues mental health providers cannot with certainty predict the likelihood that a patient with act on threats of violence. Dr. Moore and the medical team further state that a breach in confidentiality will have detrimental effects on treatment. Further, the act of warning by revelation of confidential information would constitute a breach of trust. Plaintiffs Argument Tarasoffs parents argued that Dr. Moore violated the professional standards by neither warning them of a patient considered to be dangerous, nor detaining a patient considered to be dangerous. The defendants also asserted that Dr. Moore and others abandoned a patient deemed dangerous by ordering the destruction of all therapeutic notes. The plaintiffs further argued that Dr. Moore failed to provide adequate follow up care with Poddar to ensure he was not a danger to himself nor the public. Summary of the ruling The ruling by the Supreme Courts required a balance between the need to protect privileged medical communication between a mental health provider and the patient to protect against potential threats.   The special relationship in this case is the one that is established between a patient and his mental health provider. Such a relationship may increase obligations of protection. A duty of care may arise from the establishment of a special relationship between the health care provider and patient which imposes a duty upon the clinician   to control the patients conduct, or a special relation between the provider and the other individual, which gives to the other a right of protection (Bersoff, 2014).   This relationship was crucial to the ruling regarding the circumstances of the Tarasoff case. When a health care provider has direct or indirect knowledge of information that a reasonable individual may determine that a patient may harm himself or others, this provider must exercis e reasonable and prudent judgement to prevent harm. The court in California ruled that mental health professionals have an obligation to both the patient and individuals who are threatened by a patient. Justice Mathew Tobriner ruled that protective privilege ends about public safety and further states that mental health providers should notify the authorities as they are charged with public safety. Lastly, about the liability of the officers who failed to detain Poddar, the court held that a public employee cannot be found liable for an injury resulting from a discretionary decision. Therefore, the police officers involved were granted immunity from prosecution. Summary argument The plaintiffs in this case presented the best legal argument. For example, the psychiatrist is found to violate the professional standards. Dr. Moore was to be held liable for the failing to protect and warn. Regardless of whether the plaintiffs interests are qualified for legitimate protection from the defendant under the law is relative to the establishment of a duty to care. Obligation of care is the aggregate of foreseeability, degree of certainty of harm to the individual, establishment of a special relationship. Once a health care provider, in this case psychotherapist, determines that a patient represents a genuine peril, he bears a lawful obligation to his patient, as well as to his patients intended victim. The pros and cons of the argument on each side By notifying the police, the provider tried to detain the defendant and protect the public after he became aware of an acute episode of paranoid schizophrenia. He did not warn nor protect the intended victim which eventually led to her death. Thus, the ruling was made in favor of the plaintiffs, the parents of Tatiana Tarasoff.   Despite the defendants argument that the more public good would be accomplished through the support of mental health treatment and complete protection of confidentiality of patients undergoing treatment. References Bersoff, D. N. (2014). Protecting victims of violent patients while protecting confidentiality. American Psychologist, 69(5), 461-467. http://dx.doi.org/10.1037/a0037198 Henderson, E. (2014).   Potentially dangerous patients: A review of the duty to warn.   Journal of emergency nursing, 41(3), 193-200. http://dx.doi.org/10.1016/j.jen.2014.08.012 Tarasoff v. Regents of University of California. (2009). Scocal.stanford.edu. Retrieved 11 February 2017, from http://scocal.stanford.edu/opinion/tarasoff-v-regents-university-california-30278

Various Factors Explaining Why Boys are Boys and Men are Men :: Mens Health Male Roles Society Essays

Various Factors Explaining Why Boys are Boys and Men are Men This paper is going to describe various key factors explaining why boys are boys, men are men, and how boys adapt in this male dominant society to become men. Growing up in Pensacola Florida in a single parent home wasn’t something I wished are hoped for, but something I had to adapt to. My mother, even though she couldn’t be the male role model I needed, help me understand what roles I’m expected to take as a young man. â€Å"Let the boys be boys,† was a phrase used by hip hop legends â€Å"onyx† portraying a message that boys are going to be boys no matter what. So I ask my self what makes a boy, a boy? Rambo like characteristics? Muscles? Short hair? Wearing T-shirts and jeans or playing with sporting equipment? Well last I remember; the main characteristics that boys shared were penises. The role gender association play in the lives of our children can sometimes affect them negatively. The messages that gender roles send, is that in order to be part of society, you must fit into the norm trying to accomplish what society expects of you; But all the while, trying to incorporate individuality and establishing ones sense of self. Two conflicting ideas that can confuse a child and also alter the way they live their lives. There are two colors that are designated to babies that serve one purpose and one purpose only. Most infant boys were the color blue and girls wear pink. Seeing that it is difficult to determine the sex of an infant without general exposure to the genitals, most parents choose to clothe they’re young child in the respective colors so people will know whether it is a boy or a girl. After all, what male infant wears pink? When the children grow older, do they still continue the practice the color identification game? This is where it changes, When boys reach the age where they start dressing themselves and start buying their own clothes, they will continue to wear the blues and the greens and even yellows and reds, but not pink or violet, cause those are â€Å"girly† colors. Girls on the other hand, when they reach the same age still continue to wear the pink and violets and can even wear the blues, yellows, blacks, and greens. So why can girls make the â€Å"cross-over† without being teased or mocked but boys cant without being called a gay or a fagot.

The Test :: Original Writing Personal Narrative

My eyelids drooped as I poured yet another cup of coffee, so that I might stay awake long enough to study the last thousand pages or so in my notebook. Maybe it was just too much caffeine, but it seemed to me that the coffee machine was laughing at me, as it seemed to say â€Å"you’re hopeless, go to bed.† I had been studying for so long now that the few things I did know for certain at the beginning were now beginning to baffle me. Facts and figures jumbled together in one huge pile in my mind, useless dates and numbers that meant absolutely nothing to me in my exhausted state. â€Å"Why don’t you go to bed now, honey?† my mother asked kindly when she found me studying in the dim light in the living room. â€Å"It’s really late, and you have to get up early.† I groaned. Thanks for reminding me! a little voice screamed inside my head. Only four more hours and I’d have to get up for school, and here I was, absolutely clueless despite my efforts of cramming. â€Å"No, not yet,† I pleaded. â€Å"I’ll go to bed soon, I promise. I just want to go over this last little section.† Mom sighed, but nodded, flicking on another lamp for me on her way back to bed. â€Å"You’re going to ruin your eyes studying in the dark,† I heard her mumble as she left the room. Ruin my eyes? As though that was all I had to worry about! After I wrote my exam tomorrow, my life was going to be ruined! My chances of getting accepted into a decent college were gone out the window. I’d never get a decent job, and there was not a chance that I’d ever get married or have children. Who wanted to marry a failure? Visions of myself in thirty years, alone and impoverished, popped into my head. I could already see myself, sitting in my tiny one room apartment, spooning Kraft dinner out of a worn pot. My clothes were in tatters, and my only companion was a skinny stray cat I’d sneaked into the apartment. My phone would never ring, and there’d never be any letters for me in the mail. My family would disown me, my friends would forget me . . . yes, I decided, my life was most certainly ruined. Although I tried most diligently to stay awake, my efforts were in vain.

The History of Art Essay example -- essays research papers

The History of Art   Ã‚  Ã‚  Ã‚  Ã‚  When we think of history we don’t often think of art. We don’t realize how the history of art can help us learn more about the people, the cultures, and the belief systems of those who lived hundreds and thousands of years before us. Art has developed, influenced, and contributed starting from the great Stone Age to the present day. Art gives an insight into the changes and evolution that man and culture have gone through to become what is today. Art is culture, art is the essence of the people who make it and the best way to appreciate art is to look at the history of it and it’s evolvement through time.   Ã‚  Ã‚  Ã‚  Ã‚  The Great Ages consists of four distinct ages: The Old Stone Age, The New Stone Age, The Bronze Age, and The Iron Age. These four Great Ages is the complete history of art from the beginning to the present day. Each age is named characteristically for the type of material used for that time. Stone was used in the Old and New Stone age, bronze in the Bronze Age, and iron in the Iron Age.   Ã‚  Ã‚  Ã‚  Ã‚  The Great Ages began with The Old Stone Age starting at 100,000 BCE. The people lived in tribes and clans and often moved from place to place, hunting and gathering to live. They believed all life was sacred and all beings were divine, including animals. The tribal teachings taught that man and nature are one. Hunting and gathering was a sacred ritual because they would often believe they were at one with the animal being hunted. Shamens and shamenesses, spiritual healers and seers between the people and spirits of animals, would often lead hunts and call forth the spirit of the animal to which they would ask the animal to offer their life willingly for a successful hunt. An illustration in Art Through The Ages, 1-4, (Hall of the Bulls found in Lasacux, c 15,000-13,000 b.c. Largest bull approx. 11’6† long) a beautiful cave painting of Bulls. It shows how sacred these animals were to the people. The painter took the time not only to paint such a true to nature image but also purposely put it in a remote location hundreds of feet above the entrance. The location of the painting suggest that it was used as a spiritual image that perhaps shamans would use to communicate with the spirit of the animal.   Ã‚  Ã‚  Ã‚  Ã‚  The Shamans were necessary to the t... ...ng alongside the edifice and stained glass windows that were mystically illuminated with the sun’s rays. 13-29 (Interior of Ste.-Chapelle), 13-33 (St. Martin, St. Jerome, and St Gregory, c. 1220-1230, from the Porch of the Confessors, Chartres Cathedral France.). The beginning of the Renaissance around 1500 CE is considered the start of the Late Iron Age, which is still on going. The Renaissance was the age of enlightenment the rebirth of learning and culture where men were going beyond their ability, where artists were considered geniuses, and private pleasure became the subject of art. Great artists like Leonardo de Vinci, Raphael, and Titian emerged from the great period of the Renaissance; they were not only geniuses, but also great individual intellects, who defined the greatness of art. Individualism still prevails today and is the very core of modern society. Male-dominated societies still exist, but slowly the demand for equality is changing that. During the Four Great Ages, many things have changed, many things have been lost, but time has not taken a sudden halt, nor the art; people, cultures, and mentalities continue to grow and change, and from growth comes greatness.

Impact of Terrorism on Financial Markets of Pakistan Essay

Since the emergence of 9/11 event in U.S.A., the world has witnessed significant increase in terrorist activities. Pakistan unfortunately has been the most vulnerable to the paradigm shift of terrorism. Its vulnerability is mainly subjected to its geographical location. Nonstop terrorist activities toppled over the country’s political, social and economic structure. Now the life of a normal citizen is at risk. State of infrastructure has become deplorable owing to the series of terrorist activities. Resultantly economic activity reduced manifold. Being a frontline state on â€Å"war on terror† the loss of Pakistan’s economy was a natural consequence. Pakistan’s economy was affected almost at all economic fronts which comprises of external, industrial, agricultural, business and services sector, etc. The continued rise in the terrorist activities also affected the confidence of foreign investors which caused the stoppage of FDI, besides withdrawal of the po rtfolio investment. The impact of terrorism was also felt in all the areas of the economy with varying degree and intensity. The most prominent areas included tourism, hotelling, manufacturing, cottage industry, transportation, trade, etc. These industries have reinforcing effect on each other. Factors such as heavy influx of Afghan immigrants, particularly Taliban; porous Pak-Afghan border; political instability; external conspiracies, demographic weaknesses and its geographical attractiveness have accentuated the process of Terrorism in Pakistan. All these factors combined with global â€Å"war on terror† have deteriorated Pakistan’s economic situation as a whole. Financial markets, which are the nucleus of any economic system, are also supposed to be affected due to terrorist activities. In the aftermath of the terror attacks of 11 September 2001 in New York and 11 March 2004 investors’ confidence deteriorated beyond national boundaries because of contagion effects (Johnston and Nedelescu, 2006). Under the current wave of terrorism in Pakistan, particularly the stock market, forex m arket and money markets are affected the most. These markets are highly important as most of the policy impacts are transmitted through these markets. Therefore, any disruption in the smooth working of these markets may affect the achievement of overall economic target set by the government. Especially the stock market, which is considered to be the barometer of economic health of a country, appeared to have been affected by the rise in extremism or terrorism in recent times. The negative impact of the market to hype in such activities is reflected by the selling of bonds of the target firm’s, but the magnitude and consistency of the negativity stirred in the market and of the spill over effects is questionable (Karolyi, 2006). Similarly, the forex market which is also obviously affected by the uncertainty prevailing in the economic environment bears adverse effects of the related events. As regard the banking sector of Pakistan, it is also found to be inflicted due to the aftermath of the terrorist activities. The size and distribution of the effect of these activities would depend on the myriad of factors such as nature of terrorist attack, target of the attack, the multiplier effect, policy response and the resilience of the financial market (Bruck and Wickstrom, 2004). Besides Lal Masjid operation, the hall mark of the terrorist activities over the sample period is loss of internationally known Pakistani Political personality i.e. Benazir Bhutto. After the assassination of the said Pakistan’s banking sector faced substantial losses due to damage to the infrastructure and robberies of the bank. Downfall of any of the financial market associated with a terrorist activity reduces the incentive to spend as opposed to save, a process that can spread through the economy and the rest of the world through normal business cycle and trade channels (Johnston and Nedelescu, 2006). Keeping in view the significance of financial market for Pakistan’s economy, the quantification of the impact of terrorists’ activities on financial market becomes an interesting area of research work. Especially, this requires empirical quantification of the impact of various kinds of terrorist activities that either occurred in key business centers or happened in the far flung areas. II. Literature Review We find very limited literature on the subject issue. Although a few studies are found to be discussing the overall consequences of terrorism on world economies, we do not find much evidence about the quantification of the impact of terrorist activities on financial markets using such high frequency data and with special reference to Pakistan. For the benefit of readers, the review of some of the relevant studies has been made which is given as under: After the eruption of terrorism in Spain in the 1970’s, Abadie and Gardeazabal (2001) discovered the fact that there was ten percent deterioration in the per capita GDP of the Basque region as opposed to a synthetic control region. They also found out that this difference widened due to the rise in the terrorist activities. Chen and Siems (2004) assessed the degree to which the U.S. Stock market reacted to fourteen extremist acts in the past ninety years by using the event study methodology. They also tried to assess the impact o f the September 11 attacks and the raid on Kuwait by Iraq on the stock markets of different nations of the world. They found certain proof of flexibility in the fact that the encounter with such extremists’ lead to a decrease in the market reaction. Moreover, they came to know that the impact of the September 11 incidence and the Iraqi raid were more unfavorable and harmful on the stock markets of nations around the world as opposed to the U.S. stock markets. The study by Johnston, et al. (2005) attempted to explore the impact of terrorism on financial markets. They found that how financial markets react to different shocks stemming from terrorist attacks. By making use of the data on financial markets such as the government securities market, the repo market, the insurance industry and the capital market of U.S, the study analyzed the reaction of the financial markets to the September 11 ‘2001 terrorist attacks in the New York, and March 11, 2004 attacks in Madrid. They concluded that given the accurate timely response of the authorities and rogue disaster management, the financial markets of U.S and Spain respectively were attributed with diversity and resilience to absorb the shocks of terrorist attacks. Both the central banks laden with the sense of responsibility of the â€Å"lender of the last resort† also came to rescue their respective financial systems in the aftermath of these acts of terrorism. In addition, the globalization trends also incepted the cross border cooperation among the central banks which mitigated the diffusion of contagion effects through the chain process of business cycle. Barth, and et al (2006) used panel data on terrorism and employed some of the control variables which proved the negative, depressing and unfavorable influence of terrorism on economic progress. In broad-spectrum, these extremists’ occurrences and events have a substantial destructive impact on the economy of a country and thus rende r a depreciation and deterioration of the economy. Their outcome also sheds some light on the fact that the aim of such attacks also makes a difference. Extremists’ attacks directed at places and properties other than that of public have an unconstructive link commonly with development and capital structure and generation. Gulley and Jahangir (2006) used the statistical data available for the stock, bond and foreign exchange rate and stock market from 1968 to July 2005, for a group of countries i.e Australia, Canada, France, Germany, Italy, Japan, UK and the US. Data on terrorist attacks has been collected from The National Memorial Institute for Prevention of Terrorism (MIPT) for exactly the same time period characterizing the date, time, location, type and target of the attack. Since the data is high frequency data, they have employed â€Å"Generalised Autoregressive Conditional Heteroscadastisity (GARCH) Model† to study the impact of terror attacks on the return (level) and volatility of the financial markets of the sample area, while their theoretical model is based on asset pricing model. Their results are well collaborated with the perceived expectations and the theory. They found negative returns with increasing terrorist activities for the stock market, while for the bond market lower yields were observed. Terrorist attacks had not been found associated with additional volatility in stock market in the given set of countries under observation. Liquidity of the foreign exchange market is significantly higher than other markets. Abadie and Gardeazabal (2007) attempt to measure the impact of terrorism on the foreign direct investment in an open economy. They made use of the data set on net stock of FDI obtained from the UNCTAD (United Nation Conference on Trade and Development) for 98 countries and GTI (Global Terrorism Index) for measuring data on terror activities which have the 100 European Journal of Social Sciences – Volume 18, Number 1 (2010) advantage over other measures by being popular among the international investors’ who use it to evaluate specific country’s risk. During their regression analysis, keeping the other types of risks constant, it was concluded that small changes in terror activities have the potential to bring big change in the allocation of the productive resources across the countries, keeping the international economy sufficiently open. They have statistically proved that wit the increasing standard deviation of the terror attacks, the net FDI shrinks by 5 percent of GDP. Melnick and Eldor (2007) used discounted-cash-flow valuation model in order to calculate the media exposure created due to such terrorist acts and also for the assessment of costs in term of the foregone alternatives of the liberated and unbound media exposure provoked by such extremists’ acts and their impact on the single stock market fun ctioning in Israel, â€Å"Tel Aviv Stock Exchange†, to measure the influence on the economy. They reached to the conclusion that there a statistic importance and significance of the opportunity cost variable and that it provides a role as an adequate indicator including the whole content required to portray the impact of militant acts on the stock market. The outcome clearly shows the converse relationship between the degree of media exposure and the deterioration in the value of stocks. However, it was also found that not any of the elements arising out of terrorism are statistically substantial and significant after the insertion of the opportunity cost variable in the equation. Berrebi and Klor (2008) took the sample of 125 Israeli defense and security companies that are traded in American markets and a number of American companies as controls for Israeli companies. The data on terror attacks, collected from Israeli foreign ministry, was based on daily terror attacks and noncombatant fatalities arising from them. They made use of the event study methods in order to measure and assess the positive impact of terrorism on the return of the stocks of the sample companies relative to those of control group. It was empirically found that Israeli defense related companies experienced comparatively lowered (negative) abnormal returns than those of American controls during the first part of the period under analysis i.e. before Palestinian uprising (January 1st, 1998 – September 28th, 2000). They had also been successful in proving that average cumulative difference in abnormal returns (CDRAR) of the defense related companies exhibit downward slope before the Palestinian uprising where as the trends reverses abruptly during the second part of period under analysis (second Palestinian uprising). During the second uprising, the defense realted companies gained around 70 percentage points while the non defense companies lost over 60 percentage points. Out of the myriad of research problems pertaining to this area of interest, quantification of the terrorist activities and measuring its impact on the fluctuation of various economic variables is imperative owing to the possibility of plausible relationships between two variables which may result in biased empirical results (Berrebi and Klor, 2008). In this paper, this problem has been tried to sought out by using Durban Watson statistics in order to check the variables for autocorrelation issue. This study is different in several aspects from the existing studies which were conducted on the subject matter. Some of the distinguishing features are given as under: †¢ It uses daily data on all the financial markets and the terrorist activities. Earlier studies present on this topic have examined the financial markets on a much lower frequency data. †¢ This study is first of its kind with reference to Pakistan. No research has been done in Pakistan before on the same lines. †¢ Different aspects of terrorism have been incorporated in this study in terms of the kind of terrorist activity, its intensity, the location of incidence and the target. †¢ The study examines the effect of each kind of terrorist activity on stock, forex and money markets separately. III. Research Methodology Data Description The study uses time series data for this piece of research work. It uses high frequency data, which is a daily data, over a period of two and a half years (i.e. from 31st December 2005 to 30th June 2008). The 101 European Journal of Social Sciences – Volume 18, Number 1 (2010) data has been collected from different resources. Secondary data has been used for three financial markets separately, i.e. banking market which represents the money market while stock market (KARACHI STOCK EXCHANGE) and the FOREX market represent the capital market. The data on the KSE Index has been taken from the KSE website. The data on the foreign exchange (i.e. rupee dollar parity) has been acquired from the Monetary Policy Department of the State Bank of Pakistan. The data on KIBOR (Karachi Inter Bank Offer Rate) has also been obtained from Domestic Markets & Monetary Management Department (DMMD), State Bank of Pakistan. The most cumbersome process of the primary data collection has been the collection of terrorists’ activities on daily basis. Daily information on these activities has been collected from various news papers including â€Å"The Daily Dawn†. Since various kinds of terrorists’ activities were found in the news papers, an attempt was made to choose the most relevant activities which has some impact on the working of financial market. While finding out the impact of terrorists’ activities on the financial markets of Pakistan we categorize the terrorists’ activities into four distinct dummy variables. The terrorists’ activities have been grouped together in four different categories naming D1, D2, D3 & D4. Each activity has been assigned a particular group according to its intensity. A brief discussion of dummy variables used in the study is given as under; †¢ D1 is equal to 1 for the kind of terrorists activities which have targeted the key p ersonnel (political or otherwise) of the country and 0 for not happening of such event. †¢ D2 is equal to 1 for the happenings of the terrorists’ activities in the cities that are financially active or are the economic centers of the country and 0 for not happening of such events. †¢ D3 is equal to 1 for occurrence of major activities but in the non financial cities, †¢ Whereas D4 equals 1 for minor terrorists’ events taking place in small cities and 0 for not happening of such events. †¢ DST is equal to 1 in case of any structural change that has taken place during the period under study, otherwise it is equal to 0. Though most of the activities placed in D4 are not minor in terms of cost of human lives and infrastructure of the cities, but may be because of the peaking magnitude of the terrorism in the country for the past two and a half years or so, we as a nation, has become so much resilient to such attacks that loss of lives of normal citizens or human beings or blowing up of country’s resources does not mean much loss to u s, neither in moral sense nor in financial terms. Analytical Techniques For the estimation of results, E-views, which is time series econometric software, has been extensively used. For the purpose of analysis, the model used is â€Å"MULTIPLE REGRESSION MODEL†. This model not only tells us the extent of the impact of terrorists’ activities on the individual financial markets but it also tells us the direction of the relationship between the regressors and the regressands. In this study the regressand are KSEI, FOREX rate and KIBOR while the four categories of terrorist activities are regressors. The study asseses the impact of terrorist activities on these three market. The functional form of the model would be as follows; (1) FM = f (Di) Where; FM indicates any type of the above mentioned financial market. Di indicates dummy variable capturing the impact of any type of the terrorist activity which affects the financial markets in Pakistan. To assess the impact, the functional form of the equation no. 1 is converted i nto mathematical equation, which is as follows; FM = ÃŽ ± + ÃŽ ²Di (2) Where; FM = any financial market operating in Pakistan e.g. ÃŽ ± = intercept ÃŽ ² = parameter to be estimated or coefficient. Di = dummy variables ranging from D1 to D4. WhileD1, D2, D3 and D4 are already explained. For KIBOR analysis, the study uses an additional dummy variable namely DST. It denotes any structural changes occurring in the economy which has imminent impact on the inter bank market. Since the dependent variable (financial markets) is also affected by many other variables which are called stochastic or error terms, so we need to convert the equation no. (2) into an econometric equation, which is represented as follows; FM = ÃŽ ± + ÃŽ ²Di + ei (3) Where ei is an error term. Since the dynamics of each kind of financial markets are a bit different. We need to estimate the results separately using a different equation for estimation purpose. These are given below; i. Stock Market Since KSE is the most active or most efficient of all the financial markets in Pakistan, we analyze the impact of four dummy variables on KSE 100 index first. In order to particularly analyze the growth of KSE Index we convert the daily values of KSE 100 Index into their log values. As the stock market show significant volatility over the last few years, we take natural log of the equation no. (2) for smoothening of the KSE Index. KSEI = ÃŽ ± + ÃŽ ²Di + ei (4) Taking natural log on the left hand side we get; Ln(KSEI) = ÃŽ ± + ÃŽ ²Di + ei (5) This is the final equation which can now be used for estimation of the impact analysis of terrorist activities on KSE. The equation reads as the natural log of Karachi Stock Exchange 100 Index is a function of the Di viz D1, D2, D3 and D4 representing various forms and intensity levels of terrorist activities. After regressing all the dummy variables (D1 to D4) separately on the LnKSEI, we see adverse effect of D1, D2 and D4 on the LnKSEI. It is important to note that the individual effect of D1 and D2 seemed suppressed. So in order to enhance the collective effect of D1 and D2 we combine both the variables and name it as D1†². So that the terrorists’ activities targeting key personnel and major financial areas are singularly termed as â€Å"major events† (grouped in D1†²) while D3 and D4 remain the same. By applying OLS regression technique, we estimate the following equation;(6) Ln(KSEI) = a + ÃŽ ²D1†² + ÃŽ ³D4 + ei Where; Ln(KSEI) = natural log Karachi Stock Exchange Index. D1†² = terrorists’ activities targeting key personnel and major financial cities. D4 = minor activities in small cities. ÃŽ ±, ÃŽ ², ÃŽ ³ = parameters to be estimated. ei = stochastic/ error/residual term. ii. FOREX Market Foreign exchange market of a nation is the arena where country’s currency is traded for other currencies. The daily buying and selling of a currency determines the daily average rate of a currency. The trading takes place in domestic and international market simultaneously and hence the equilibrium point of the demand and supply of a currency determines the daily average FOREX rate. The rate can be determined in terms of any foreign currency. The exchange of currency typically takes place via brokers, but overall many institutions like commercial banks, investment banks, brokerage houses, clearance houses, foreign exchange markets on the whole and individuals are involved in the process. FOREX market is the biggest financial market of the world but with reference to Pakistan it stands second. Since foreign exchange rate can be expressed i n two ways, i.e;  i. Direct quotation ii. Indirect quotation. In this study we have used the direct quotation of the Pak rupee (PKR). We take the exchange rate of PKR in terms of U.S Dollar and express the exchange rate as I/PKR (direct quotation). Taking its natural log reduces the volatility of the exchange rate. In our analysis we are required to determine the impact of terrorists’ activities on the Exchange Rate stability or to critically see how much of the underlined activities depreciate the domestic currency in terms of the foreign currency (U.S. Dollar). We have derived the following equation: Ln (ER) = ÃŽ ± + ÃŽ ²Di + ei (7) Where; ER = exchange rate. While for analysis purpose we use the following equation. (8) Ln (ER) = ÃŽ ± + ÃŽ ²1(D1) + ÃŽ ²2(D2) + ÃŽ ³(D4) + ei where; Ln (ER) = natural log of exchange rate D1 = terrorists’ activities targeting the key personalities D2 = terrorists’ activities taking place in the major financial cities D4 = minor terror events in small cities. ÃŽ ±, ÃŽ ², ÃŽ ³ = parameters to be estimated ei = residual/ error term. It is clear from equation (8) that ER is influenced by the terrorist activities grouped in D1, and D2. For the empirical findings, we regress the g iven econometric equation by applying OLS technique. iii. KIBOR Karachi Inter Bank Offer Rate (KIBOR) is the average of daily offer rates of commercial banks. It is the average daily rate on which a bank offers short term loans to other commercial banks. In other words, KIBOR is a yardstick to measure the capability of banking industry of a country to accommodate short term loans and funds. The underlined activities may also affect KIBOR rates. Interbank rate is the relative indicator of performance and efficiency of banking industry since it indicates the borrowing ability of the commercial banks. Econometric equation for KIBOR is given as; KIBOR = ÃŽ ± + ÃŽ ²Di + ei (9) To find out the empirical results of impact of terrorism on banking industry (KIBOR) weestimate the following econometric equation by OLS technique. KIBOR = ÃŽ ± + ÃŽ ²D1 + ÃŽ ³DST + ei (10) Where; KIBOR = Karachi Inter Bank Offer Rate D1 = major terrorists’ activities targeting key personalities. DST = dummy variable for structural changes. ÃŽ ±, ÃŽ ², ÃŽ ³ = parameters to be estimated ei = stochastic/error/residual term. IV. Empirical Findings As already explained, we separately estimate the impact of terrorists’ activities on three types of financial markets mainly due to having different dynamics and sensitivity of events. The final impact analysis is given as under; i. KSEI Using equation no. (6) we obtain the impact of underlining activities on KSE market. 104 European Journal of Social Sciences – Volume 18, Number 1 (2010) It is apparent from the results that the value of R2 is 0.98 or 98% which means that our model is best fitted. It implies that 98% of variations in the dependant variable (LnKSEI) are explained by the independent variable. Durbin Watson Statistics is equal to 1.96, which is closer to 2, shows that the regression model is not ploughed with the problem of autocorrelation. Standard error of the model is also reasonably small (0.016336) which is responsible for increasing the calculated value of t-statistics, thus we reject null hypothesis (i.e. Ho: ÃŽ ² & ÃŽ ³ = 0). F-statistics is 14379.05, which is comparatively very high indicating the overall significance/fitness of the model. C or ÃŽ ± is actually the intercept which is the weighted average of all the ignored variables that might affect the KSE index. Its value is 9.441305 which are significant at 1 % level of significance (highly significant). This indicates that KSEI is affected by variety of events not included in this analysis due to time constraint factor. Most probably the factors like capital taxes on earnings of stocks, capital inflows, and future strategies of companies registered at stock market, external shocks might be included in the test. Similarly, the terrorist activities also adversely affect KSE. Particularly, the value of D1 dummy variable (ÃŽ ² = -0.005021 at 2% level of significance) indicates that 1 percent increase in relevant terrorists’ activities might negatively affect KSE 100 Index by 0.5 percent. It means that the terrorists’ activities occurring in major financial hubs and those targeting key personalities of the country negatively and significantly impacts the performance of the KSE. To put it the other way round, KSE 100 Index might decline when any such terrorist activity occurs in the region. In the same way, the dummy variable D4 has also affected the KSE 100 Index negatively . It indicates that minor terrorist attacks occurring in small cities do not impact the KSE 100 Index significantly, although the impact in negative. Here, the estimated negative value of ÃŽ ³ (-0.000137) means to support the argument that small terrorist activities have negative impact on KSE. More appropriately, the said terrorist activities grouped in D4 combined with other residual factors also affect the functioning of the KSEI negatively. The impact of such activities on KSE performance may become significant because of the important paradigm shift in policy measures. Policies of the government or other concerned institutions are greatly affected by the magnitude of terrorism in a region. Greater the magnitude of the terrorist activities, greater would be the uncertainty in economic environment, and consequently greater would be the rate of change of policy measures. Since Karachi provides the centre of financial activities to the country and Karachi Stock Exchange is the biggest stock market of the country, so the vulnerability of the city to the terrorism is most likely to create volatility of the liquidity in the economy. Greater the occurrence of terrorist activities in the city, greater would be the likelihood of adverse effect on the financial markets, particularly KSE. Consequently the result would be the higher outflow of capital, lower investments, lesser exports and depletion of foreign reserves. ii. FOREX Rate Using the equation no.(8) the results of the impact of terrorist activities on FOREX market has been estimated by OLS technique. According to the results obtained, the value of the R2 is 0.99 or 99%, which implies that 99% of the variations in dependant variable (ER) are explained by the variations in explanatory variables. The value of R2 is pretty high indicating that the model is a best fit. Durbin Watson statistics is equal to 2 showing that there is no issue of autocorrelation in the regression model. The F- statistics value is also very high and significant showing the overall significance of the model. Standard error of the regression is very low, making t- statistics pretty high. The intercept term, C or ÃŽ ± is -4.078457 which is quite significant indicating that the ignored variables caused depreciation of Pak rupee against U.S. Dollar. As regards the impact of dummy variable D1, it is negative but insignificant. So we are able to interpret that the terrorist activities named as D1 do adversely affect the exchange rate of PKR but the impact is not at all significant. Similarly, the coefficient of D2 is also very small which indicates that the response of the FOREX market to underlying activities is almost negligible. It determines that D2 activities have a negative and insignificant impact on the determination of FOREX rate. The impact of D4 activities on FOREX is interpreted in the same way as that of D1 and D2. European Journal of Social Sciences – Volume 18, Number 1 (2010) From all of the above coefficient values we can infer a negative relationship between the terrorism and the FOREX rate. The negative sign indicates that any such happening is responsible for the depreciation of the domestic currency in terms of the foreign currency (U.S. Dollar in the present case). Though this impact is not significantly visible with reference to Pakistan but there might be several possible explanations for this suppressed relationship. From Pakistan’s standpoint the impact might be insignificant because of high resilience of the financial markets here. From the daily data of the terrorist activities it is evident that these events have been taking place at a very high frequency over the sample period. The magnitude of these activities ranges from mild offensive happenings to very high terror attempts that scare off the whole humanity. In this scenario, it is likely to expect the convergence of financial markets. The impact has to be adverse because such happenings produces uncertainty in the economic environment, increases the risks and liquidity shortage, reduces exports, depreciates currency, lowers the domestic and foreign investments and thus definitely there is a flight of capital from economy. But in case of Pakistan, high frequency of such events might be responsible for the cold blooded attitude of nation as a whole and these events may seem a routine happening to the people involved in currency trading or in any other financial market. It is because of this reason that the variation in depreciation of PKR is very less as compared to the perceived expectations. So we can safely say, terrorism does not signify its impact on foreign exchange market of Pakistan, unless the ev ent is highly adverse or of global attention like that of assassination of the former prime minister of Pakistan, Benazir Bhutto. iii. KIBOR By using OLS technique on equation no.(10) we get the following results on impact of terrorist activities on the money market or interbank market (KIBOR). The results showed us that the value of R2 is 0.98 or 98% which means that it is a best fitted model. 98% of the variations in the dependant variable, KIBOR, are determined by the variations in the explanatory (independent) variable. The estimated value of Durbin Watson Statistics is 1.95 which is used to indicate that the results are not ploughed with the menace of autocorrelation problem. This reflects the accuracy of results, as it can be used in the policy formulation process concerning the KIBOR. Standard Errors are very small which means higher values of t-statistics. Values of F-statistics are again very high i.e. 15109.34 showing the overall significance of the model. The value of intercept, C or ÃŽ ± is 8.474 is high, which is significant at 1% level of significance. It is indicative of the fact that other factors are more likely to be responsible for the increase in the bank rate. The value of the coefficient of D1 i.e ÃŽ ²1 is 0.001382. The terrorist activities grouped in D1 do affect the KIBOR positively but insignificantly. Positive sign indicates that greater the occurrence of the activities, higher will be the interbank rate. The coefficient of D2 is also positive (highly significant at 1 % level of significance). It indicates that factors other than terrorist activities play a key role in bringing about changes in the KIBOR rate. The impact of terrorist activities on KIBOR is widespread as compared to that of stock market (KSE). It is because of the fact that we find a bank branch network throughout the country, while KSE is confined to one city only. So the likelihood of the affect of terrorism increases on banking industry. The increased impact can be seen in the shape of the KIBOR rate. V. Conclusions and Recommendations This study was primarily aimed at estimating the impact of various kinds of terrorist activities on the three financial markets viz Karachi stock market, Foreign exchange market and the money market. The findings of the OLS regression model enable us to conclude; †¢ The economy of Pakistan has been adversely affected by the ongoing terrorist activities. †¢ The terrorists’ activities in Pakistan have adversely and significantly affected the performance of KSE. Further, the KSE has been relatively more affected by the terrorist events compared to  the other markets. This might be due to it’s vary nature as KSEI is relatively more sensitive to events rather than economic fundamentals. The terrorist activities have insignificant but adverse effect on FOREX market. One reason behind the insignificant impact of terrorist activities on FOREX rates might be the inter bank data used in the analysis. As the SBP continue to interfere in the FOREX market, therefore, any volatility arising due to such events might be subdued due to SBP proactive intervention. The impact on KIBOR rate although negative but estimated to be insignificant is a very positive development as KIBOR rate is considered as an indicator of short term loans extended by banks. In case of significant adverse impact of terrorist activities on KIBOR, it may affect investment plans of the country, which might have been negative implication for Pakistan’s economy. Most of the findings of this study are consistence with the theoretical expectations. The result estimates for the KSE 100 Index and KIBOR rate are per expectations. The econometric results for the second regression are although correctly directed but not consistent with the theory to extent as expected. The rising magnitude of terrorism in a country definitely adversely affects the economy in general and financial markets in particular. Last but not the least, targets of the terrorist activities play an important role in determining the impact on financial markets. There might be many shortcomings in the study which mainly accounts to the time constraints. light of the present study some policy recommendations could be made, following are some of †¢ In the light of the study, its empirica l findings and conclusions the government and the state ought to work on the institutional development on account of terrorism. Anti terrorism policy framework of international concern shall be formulated, enhanced and made available to the general public under this institution. Masses be given advanced warnings before occurring of any such event and rehabilitation be an important immediate step after the event has happened. Besides the well being of the general masses, effective contingency planning to mitigate the financial risk faced by the financial firms and the over all economy has to form a major constituent of the anti terrorism policy making institution. Since the adverse impact of terrorism on the financial markets has been econometrically proved in this study, economic policy should form an eminent part of the anti terrorism policy making. Effective measures shall be devised to counter the wave of disruption created in any of the above mentioned financial markets. With the continuous attacks of terror on the economy, as in Pakistan, the major domestic and international investor’s draw their money out of the financial markets. There is a flight of capital out of the economy which is a major set back to the domestic currency. To mitigate the risk of depreciation of the currency, policies regarding increasing the money supply and lowering the interest rates in order to perk up investor’s confidence and to keep the foreign reserves build up shall be enacted. Policy has to be formed to strengthen the financial structure of the economy and increase its resilience to absorb the shocks to the maximum limit. Opportunities to the domestic manufacturers’ shall be accentuated to increase exports and thus demand of domestic currency. This is an important measure to avoid the depreciation of currency and also it will make the trade deficit unlikely to occur. This is an important policy implication for the money market. Investment in research and development and innovative security measures is also need of the day. European Journal of Social Sciences – Volume 18, Number 1 (2010) Lastly, policies should be made and extended on the global level to increase the cooperation and coordination among the major stake holders in the global financial markets. Policies regarding benign relationships among the central banks of international importance shall also be encouraged so as to extend financial help during the crucial financial crunch after any enormous act of terrorism. Based on the results findings, the study mainly recommends that the concerned policy makers must take into account the impact of terrorist activities while formulating policies for the three kinds of financial markets. However, the impact of terrorist activities varies on each market in terms of its intensity, place of occurrence etc. †¢ References [1] [2] [3] [4] [5] [6] [7] Abadie, A. and Gardeazabal, J. (2001). 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