Employment Scenario in India Essay Example

Employment Scenario in India Essay Employment has emerged as an important subject in the development agenda of most national governments and several international organisations over the past two decades. In recent years, the processes of globalisation have also resulted in certain trends in labour markets in both the developed and developing countries. in the developing countries, fears have been expressed of displacement of workers in the hither to protected sectors as a result of international competition. Current scenario of India: As a belong to India, I would like to emphasize on the current education and employment scenario in India. In India, The educational system follows 12 years of schooling and then a 3-4 years of graduation course, and 2 years of post graduation course. India  has a total  of 253 universities and 12,732 colleges right now. Growth rate of employment is 3. 29% in 2009. Highest rate of Employment is observed in agriculture , fishing and forestry- 296. 62 million. The Lowest rate of employment is in Electricity, Gas and water supply – 1. 5 million. The country is having a population of 1. 2 billion while the total employment is 529. 87 million. It indicates that major portion of the youth remain unemployed. Major employment challenges in India: 1. Population: India  is the  second most populous  country in the world, with over 1. 18 billion people (estimate for April, 2010), more than a sixth of the worlds population. More than this every year about 5 million people become eligible for securing jobs. But the employment opportunities are much lower than the job seekers. 2. Poverty: In India, Poverty often forces households to withdraw children from schools for reasons of both direct and opportunity costs. We will write a custom essay sample on Employment Scenario in India specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Employment Scenario in India specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Employment Scenario in India specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In addition, schools and the style of instruction are not always attractive for the children. In the case of girls, the familial attitude towards educating them continues to be discriminatory. As a result, Drop-out rates are high: at 40 per cent in the primary, 50 per cent in the middle and 66 per cent in the secondary stages of schooling for boys and 42 per cent, 58 per cent and 72 per cent at the three levels, for girls In rural families. 42 per  cent of children said they wanted to be graduates and just 24 per  cent wished to go in for a post-graduate  degree. Even the choice of subject changed according to the occupation of parentschildren of the salaried class were more likely to study engineering or medicine. 3. Employability: A part of the problem of employment has always been the result of a mismatch between qualitative aspects of the supply and demand of labour: demand has remained unfulfilled due to non-availability of workers with requisite skills and workers have remained unemployed or underemployed as they have no skills or their skills have no demand. This mismatch seems to have grown in recent years due to fast changes in production technologies and structures to which the skill supply mechanisms and institutions have not been quick enough to respond. 4. Rate of Literacy: 39 per cent of the Indian workforce in the 15 years and above age group is illiterate; another 23 per cent have studied only up to the primary level. Only 22 per cent have secondary and higher level of education. 5. No of colleges: India  has a total  of 253 universities and 12,732 colleges right now. If we take the total  population in the relevant age group and divide this by the number of colleges/universities, then it shows that, at the all-India level, each university will have to cater for around 250,000-300,000 studentswhile thats about the size of Delhi University, there arent too many universities of this size in the country, nor are many being planned. 6. Educational Infrastructure: The infrastructure and curriculum of the school and colleges suffer from lack of adequate technologies, Shortage of funds. The curriculum of professional colleges are not updated to met the requirements of the industry. India is having Total engineering colleges more than 3000, when Total number of  Private MBA  colleges  in India is more than 1700. Almost 90% of these  colleges  are unable to provide quality education. Only top 10% college of Engineering and managements are able to provide job to students through Campus selection. 7. Economic depression : sick industries are often close down compelling their employees to become unemployed. 8. Technological advancement : Technological advancement contributes to economic development . But unplanned and uncontrolled growth of technology is causing havoc on job opportunities. The computerization and automation has led to technological unemployment. 9. Industry lockouts: Strikes and lockouts have become inseparable aspect of the industrial world today. Since workers do not get any salary or wages during the strike period they suffer from economic hardships. They become permanently or temporarily unemployed. How to improve the education system: Education system plays a crucial role in the employment scenario. Because it delivers the students who possess the skills and knowledge to participate in the global economy. Following measures should be taken to make the students employable in Public and Private sectors: 1. Increasing No of Schools: As discussed earlier, the existing No of schools are not adequate to provide quality education to the eligible students. So the No. of universities and colleges must be increased. 2. Providing Free education: In primary level, Education in the Govt. Schools should be made free for rural families. Also No of scholarships should be increased for higher education. . Developing Infrastructure: Increase spending substantially on primary and high school education (Both qualitative and quantitative). Increase the salaries of teachers at least at per with university lecturers and put stringent quality control while recruiting the teachers and introduce accountability among them. We must increase substantially the number of primary schools and quality of those a nd improve on physical infrastructures like school buildings, a minimum standard of school laboratory and library, a decent play ground, some internet connected computers in libraries etc. In technical institutions, technical equipments should be used in instructing. 4. Pattern of evaluation: Subsequently the exam patterns should change and put more emphasis on original thinking and problem solving rather than emphasizing database-quiz type format. 5. Improving curriculum: Basic education should be in mother tongue but English also should be compulsory from class 1. Technical education should be made available to students who have completed 8 years of schooling. To cover the lack of skills, a mechanism needs to be set up at different levels — national, regional and local — to continuously assess the emerging skill requirements of the rapidly changing economic and technological scene and reorient the training infrastructure to meet them. Second, it is necessary to develop training systems to meet the skill requirements of the unorganised sector, which is likely to be the main source of new employment opportunities, in highly diverse activities with many common as well as specific skills. 6. Training for competitive exams: In higher educational institutions, students should be prepared to clear the competitive exams. It will make a large No. Of students eligible for various public sector jobs. Conclusion: The first lead in improving the educational system should be taken by the Government. Because though Education in Private Colleges are expensive, they are having a good infrastructure and placement record compared to the Govt. Colleges. Govt. Should take initiative to increase no of schools and colleges with proper facilities, and also improve the curriculum and infrastructure of present education system.

The changes of Phillips curve under global economy, from two aspects of international trade and international finance to discuss Phillips curve ---relationship between inflation and unemployment. The WritePass Journal

The changes of Phillips curve under global economy, from two aspects of international trade and international finance to discuss Phillips curve -relationship between inflation and unemployment. Introduction The changes of Phillips curve under global economy, from two aspects of international trade and international finance to discuss Phillips curve relationship between inflation and unemployment. IntroductionThe purpose of researchThe outline and methodologyList of References:Related Introduction During the Great Depression which was a severe worldwide economic depression in the decade preceding World Warâ… ¡, western countries experienced the high unemployment rate. In 1936, Keynes who is a British economist published the famous â€Å"The general theory of employment, interest and money†. The theory was helpful for policy makers to tackle unemployment. (Mankiw,G and Taylor,M) However, after 1950s, inflation became the most concerned economic issue around the world in replace of unemployment. Due to the price rigidity, inflation couldn’t be explained by Keynesian economics. The Phillips curve is named after a New Zealand-born economist A.W.Phillips. In1958, he published an article† The Relationship between Unemployment and the Rate of Change of Money Wages in the United Kingdom 1861–1957† in the quarterly economic journal Economica. Phillips observed the data of unemployment rate and the rate of wage inflation and concluded an inverse relationship between money wage changes and unemployment in United Kingdom during the period time examined. In the following years, Phillips curve was successfully demonstrated to be found in many countries. The IS-LM model is a macroeconomic tool that demonstrates the relationship between interest rates and real output in the goods and services market and the money market (Wikipedia).It can explain the aggregate demand and determine the employment. And the Phillips curve can express the aggregate supply of macroeconomics and explain the inflation. Thus, main Keynes’s theory consists of IS-LM model and Phillips Curve from two aspects of aggregate demand and supply. The Phillips Curve also has the significant meaning for economy policy: that is, macroeconomic policy can be trade-off between inflation and unemployment. The government can use higher inflation rate to achieve lower unemployment and vice versa. Therefore, the Phillips curve was considered as the main economic tool to make policy. However, when people thought IS-LM model and Phillips curve could explain major macroeconomic issues, some economists began to doubt the accuracy of Phillips curve, one typical representative is Edmund Phelps, who is the winner of Nobel Prize for Economics in 2006. He suggested that inflation is not only related with unemployment but also related with the growth of prices and wages expected by employers and workers. His research contributed important insights in the Phillips curve which include adaptive expectation and imperfect information in the setting of prices and wages. Additionally, he presented the concept of the natural rate of unemployment and he thinks that there is no long run trade-off between inflation and unemployment. (Edmund S Phelps,1968).It can be seen from Figure 1,assume that at the beginning, the expected inflation rate is 0 and the natural rate of unemployment is 6%,under this situation, the economy is at point A and the Phillips curve is P1.If the economy is i ntervened by government, that is the government wants to use 4% inflation rate to achieve 3% unemployment rate, that means reaching point B; assume that the government achieves the goal, workers expect their real wages to decline, thus the nominal wages are required to increase to maintain their purchasing power. On the other hand, employers hire fewer workers due to the increases in wages, therefore, the unemployment rate return to the natural rate of unemployment. At this moment, the economy is at point C. The Phillips curve shifts upwards to P2.As a result, government’s economic policies do not work, that means inflation rate increases, however, unemployment rate does not go down. This is so-called†Phillips Curve with expectation†. Figure 1   Phillips Curve with expectation At present, the widely accepted view about Phillips curve is that â€Å"because people adjust their expectations of inflation over time, the tradeoff between inflation and unemployment holds only in short run.†(Mankiw, G and Taylor, M)New Keynesian economists modify the Phillips curve from two aspects: firstly, considering expectation; secondly, considering the supply shock. The purpose of research The reason why I am planning to focus my research on this topic is that with the development of economy globalization, the proportion of trade between countries or economies increase rapidly. For example, in 2005, the world merchandise trade and services trade account for world GDP respectively 47% and 11%, however, in 1990, those figures are respectively 32% and 8%.During the period of 1990 to 2005, the aggregate amount of world exports has increased annually by 9%, however, the average growth rate of world GDP was only 3%.Thus, under economic globalization, when modifying Phillips curve, the openness should be considered. My dissertation is aimed to analyze how Phillips curve shifts and changes under economic globalization. The outline and methodology At present, the major researches about this issue are focusing on NKPC model and put the model into small open economies to do empirical analysis. Then the New Keynesian Phillips Curve can be obtained. There are two methods can be used to modify the NKPC model: the first one is extended model of difference between domestic and foreign prices (Sbordone, 2002; Gali and Monacelli, 2005); second one is extended model of foreign exchange rate (Temple, 2002; Reinhart and Rogoff, 2004). The outline of my dissertation is that firstly, presenting the theory and general New Keynesian Phillips curve model, then modify it from two aspects of international trade and international finance. Secondly, analyzing the influences of domestic inflation and employment which are from international factors. The New Keynesian Phillips Curve model is generally written in the form: Ï€t=ÃŽ ±Ãâ‚¬t-1+ÃŽ ²Et(Ï€t+1)+ÃŽ ³costt. Assume that Ï€t is inflation rate at time t, Ï€t-1 is inflation rate at time (t-1), Et(Ï€t+1) is expected inflation rate of time t+1 according to that at time t, costt is cost of production per unit at time t,ÃŽ ±Ã¢Ë†Ë†(0,1),ÃŽ ²Ã¢Ë†Ë†(0,1),ÃŽ ³Ã¢Ë†Ë†(0,1).My research mainly focus on four aspects: 1)inflation effect on unit product cost, considering the formula above, the third part on the right is the changes of unit product cost under economy globalization. 2)inflation effect on international capital flow, the second part on the right of the formula above is expected inflation which makes individuals expect domestic real interest rates to change, people choose to invest in foreign.3)lagged effect of inflation, the first part on the right of the f ormula above is adaptive expectation.4)effect of inflation on employment ,overall, whether unemployment rate increases or decreases   depend on other factors ,for instance, domestic employment rate and trade policy. Thirdly, choosing two developed countries which are U.S and UK and one developing country which is Brazil and using OECD database or other databases to obtain figures about CPI, GDP implicit deflator, import price index and unemployment rate. The time period selected is 1992 to 2010 .Then using these data to do empirical analysis about NKPC model under economic globalization. Finally, getting the conclusion. The expected results I want to get are that under economic globalization, in the short run, inflation rate and prices of imports shift in the same direction. The lower the prices of imports are, the smaller the slope of Phillips curve is and vice versa. As Figure 2 indicates, I also expect that Phillips curves with different slopes adjust to different countries. The line â‘   with flatter slope is suited for developed countries due to the lower imports prices. However, the line â‘ ¢ with steeper slope is suited for developing countries because of its higher imports prices. The framework of this dissertation consists of four parts: The theory of Phillips curve Shifts and changes of NKPC model under economic globalization Empirical analysis about NKPC model under economic globalization The significance of the theory and conclusion. List of References: Mankiw, G and Taylor, M, Macroeconomics. European Edition, p295 Wikipedia, http://en.wikipedia.org/wiki/IS/LM_model Phelps, Edmund S. (1968). Money-Wage Dynamics and Labor Market Equilibrium. Journal of Political Economy 76 (S4): 678–711 Argia M. Sbordone, â€Å"Prices and unit labor costs: a new test of price stickiness†, Journal of Monetary Economics, (Elsevier: March, 2002) vol.49 (2), pages 265-292 Jordi Gali and Tommaso Monacelli,†Monetary Policy and Exchange rate Volatility in a small open economy†, Review of Economic Studies, (Blackwell Publishing: 2005), vol.72 (3), pp.707-734 07 Jonathan Temple,†Openness, Inflation and the Phillips Curve a Puzzle†, Journal of Money, Credit and Banking, (Blackwell Publishing: May, 2002), vol.34 (2), pp.450-68 Carmen M. Reinhart and Kenneth S.Rogoff, â€Å"The Modern History of Exchange Rate Arrangements : A Reinterpretation†, The Quarterly Journal of Economics(MIT Press: February 2004) vol.119(1),pp.1-48

The Destruction of Sennarcherib Essay Example | Topics and Well Written Essays - 1000 words

The Destruction of Sennarcherib - Essay Example However Byron does not tell us the full story of the destruction of the king but focuses on the battle scene. He writes about the Assyrian army being destroyed by the Angel of Death thereby making us realize that the power of God is much more than that of the human beings. The theme of the poem is the battle between good and evil and comparison of the power of God with the power of the mortals. Sennacherib here represents evil. God in this poem is very powerful and punishes those who set out to do wrong. He on hearing the cries of his people sends the Angel of Death to destroy Sennacherib. â€Å"And the might of the Gentile, unsmote by the sword / Hath melted like snow in the glance of the Lord,† (Byron, 1815) aptly describes how God protected his people from evil forces. Even though in the poem the Assyrians are described as noble characters wearing the royal colors of purple and gold they are shown as predators attacking the weak. The words â€Å"like a wolf on the fold,† points out to this. A breath of the Angel of Death was enough to destroy the great army and this shows how hollow the power of mortals is when compared to the power of God. The enemy was strong and the number of soldiers was as numerous as the number of leaves on the trees. Yet all that the angel of death did was "spread his wings" to destroy. This represents the central theme that God is more powerful than mortals. The Destruction of Sennacherib is clearly a poem on death. The first line of the third stanza itself conveys to us that the Assyrian king has been killed and the rest of the poem is about the effects of his death. The images of death are beautifully conveyed by the description of the king’s horse. Here Byron writes about foam spewing from the mouth of the horse and uses one whole stanza to describe the death of a horse. The death of a powerful animal like the horse is used as symbol to show that