Writing an argumentative essay

Argumentation is not an easy skill to obtain. Many people think that if one has an opinion and a desire to share it, he is arguing. This is actually a misconception. When two people argue, most of the time one cannot figure out the logic that seems to be so obvious for the other one. Additionally, people dont keep in mind that the main purpose of argument is to make the reader accept your logic and say to: Yes, it is true. The easiest way to avoid arguing is to ignore arguments from your so called opponent, but the art of the opponent is to make the reader consider his point of view. Suggestions 1. So, what to write about? Pick a defined, problem, which requires solving. The reader is supposed to understand the problem 100% and have his own opinion on it. The problem has to be arguable. 2. You have to take a clear position according to the topic you are arguing about. State your position in your thesis. A good step is to avoid using the first person form, like I think, or I believe. Try to demonstrate that this is not only your opinion to strengthen your arguments. 3. You have to pick a convincing argument. An argumentative essay is not just presenting your own opinion; it is to state it but also to back it up with some proof or evidence. This evidence must consist of statistics or facts and examples. The writers job is to present well qualified and educated sources that are eligible and use them fairly. 4. Use a reasonable tone. You have to understand that the reader is most likely to disagree with you or at least be skeptical. You need to have a reasonable tone to show confidence and professionalism. You are obliged to write a full and detailed explanation of your argument in order for your point of view to be accepted. Try to stress on those parts that you think are the strongest and trustworthy. Once you have written your paper, re-check every quotation for accuracy. Your professor may require every quotation photocopied and included in the paper. All quotes should be marked clearly on the photocopy. These are the basic suggestions in order to succeed in convincing the reader, there is a lot more.

My Personal Philosophy On Early Childhood Education

As a human being, each person has their own beliefs, values, and ideas that have been developed throughout the course of their life. A person’s beliefs and values are developed by family, friends, their community and experiences who have contributed to who they are. When I started constructing my Child Development Associate, my personal philosophy about early childhood education was vague despite all the experience I have accumulated over the years. I had never really sat down and put much thought into my own philosophy. During this process of gathering information about the thirteen functional areas, learning all the information that entailed with each competency statement, as well as collecting resource information, I was able to develop†¦show more content†¦Joyland Christian Preschool helped develop and shape who I wanted to be in life. I made friends that when I went on to grade school, I wouldn’t feel alone. When it was my brother’s turn for prescho ol, my mom knew right away where she wanted him to go. He attended Joyland several years after I did and we shared a special moment together. When it came Preschool graduation time, the program had a small play. In the play, we would sing songs and recite poems. At the end of the program, the students would sing â€Å"How much is that doggy in the window.† My brother and I were both the â€Å"doggy in the window.† It may seem silly, but there is things still to this day that I can remember about my experience in preschool. To this day, the teachers still know me by name, even though hundreds of children have walked through the same doors I walked through. While in college, I took a course called Human Growth and Development. It talked about development in all ages and aspects in life. In the beginning, it focused on early childhood development and how during the first three years of a child’s life, essential brain and neural development occurs. It discussed rapid brain development and how the brain develops more connections (synapses) than they can use. This meansShow MoreRelatedMy Personal Philosophy Of Early Childhood Education Essay1057 Words   |  5 Pagesdiscuss my personal philosophy of early childhood education because as a teacher, I want to become better and a way to do that is by starting off with a personal, well- articulated educational philosophy. Philosophy of learning is constantly changing, but one thing that will never change is the fact that everybody is different. Moreover people learn at different rates and in different ways. All teachers should have a well-formulated perspective on how children learn best ; therefore, my philosophy wouldRead MoreMy Reflection Of A Personal Early Childhood Education Philosophy878 Words   |  4 PagesIn this paper, I have developed a personal early childhood education philosophy statement. I will reflect and discuss my personal learning philosophy through topics such as: the purpose of education, how children learn best, what should be included in the curriculum, what environment children learn best in, what needs must be met for children to grow and learn, and how I can meet those needs. Every interaction with a child is important, and helps them to grow and develop. I want to create positiveRead MorePhilosophy of Early Childhood Essay854 Words   |  4 PagesA personal philosophy of Early childhood Education My philosophy of Early childhood education is based on research that indicates that a child’s growth is developmental. Every child is unique in terms of life experiences, developmental readiness, and cultural heritage. A high quality early childhood program that provides a safe and nurturing environment, which promotes physical, social, emotional, language and cognitive development will ensure a positive continuation of the child’s education processRead MoreDiversity and Difference in Early Childhood Essay1148 Words   |  5 PagesTOPIC: Diversity and Difference in Early Childhood Education Personal interest: My first awareness of racial identity and diversity occurred when I was in Year 3. Having being raised acknowledging acceptance of people of racial or cultural difference my thoughts of children of colour were positive and impartial. However, one day a boy in my class of Sri Lankan descent got into trouble with another student, but only the Sri Lankan boy was asked to go to the principal’s office. During our lunchRead MoreEarly Childhood Education Essays1052 Words   |  5 PagesTHRORISTS Early Childhood Curriculum â€Æ' Contents Introduction 2 Principles and Philosophy 2 Common and Differences 2 Contributions 3 Personal Reflections 4 Bibliography 5 Introduction In this assessment I will be talking about the principles and philosophy of Frobel and Montessori, what they have in common and differences, there contributions to Siolta and my own thoughts in relation to early childhood education and their impact on the learning environment Principles and Philosophy FroebelRead MoreEvery Individual Has Goals Whether It Be Personal Or Career1628 Words   |  7 Pageswhether it be personal or career goals. Often people would say that the success in their life is the most important goal than any other things. They always pursue such their goal, and to some degree, I have to agree with the reason why people pursue such their goal. However, I think that my most important goal is quite far from such goal which ordinary people pursue. I said that because recently I had to evaluate myself on what I really wanted to accomplish and why? Then I realized that my most importantRead MoreMy First Semester At Touro College1631 Words   |  7 PagesDuring my first semester at Touro College, I took a course on the History and Philosophy of Education and Special Education. Throughout this course, I was introduced to many philosophers and their theories, which helped me to develop a personal educational philosophy that I will implement into my own future classroo ms. In our very first class session, we examined the word ‘education’. Education derives from two Latin roots, educare: to bring up, to train, to teach, and educere: to lead forth, toRead MoreIntroduction to Early Childhood Education928 Words   |  4 PagesAs a parent choosing an early childhood education service can be a daunting process. There are many types to choose from, many methods and philosophies to be aware of, and a range of quality indicators to consider. This paper will identify three indicators in childcare centres that helped with my decision and relate to my personal values and beliefs associated with early childhood education. The first indicator is an effective and relevant curriculum and how it is applied into the policyRead MoreLeadership Of The Early Childhood Sector1529 Words   |  7 Pagestherefore each situation is different. If we contrived to define a declaration in might say: The concept of leadership is the ability to manage, lead, direct, give support and to work towards achieving a shared vision. Leadership, specifically in the early childhood sector can be seen as the individual that manages the day to day processes, however, other individuals within the centre can become leaders in supplementary aspects. Individuals that strive to advance and assist others in a variety of areas canRead MoreThe Importance Of The Foundations Of Child Development And Learning834 Words   |  4 PagesDear parents, My name is Jessika Lawson I am an early childhood educator and I am writing this letter to better help you understand the importance of the foundations of child development and learning. I will be talking about theories, theorists and my own personal philosophy on how kids learn. In regards to child development there are several theories. However, the theory I agree with and practice most is B.F. Skinner’s Behavioral and Social-Learning Theory. He believed that children learned

The Scarlet Letter and the Awakening Free Essays

The Scarlet Letter is a novel based on the commitment of the sin of adultery. Hester, the main character, slept with another man, thus having a child with him while she was already married. The Awakening is novel that is based on selfhood and feminism. We will write a custom essay sample on The Scarlet Letter and the Awakening or any similar topic only for you Order Now Edna does not love her husband the way that he loves her, so she gains feelings for several other men. Nathaniel Hawthorne’s novel, The Scarlet Letter, and Kate Chopin’s, The Awakening, both have similar motifs, yet differentiate in many ways, like the actions of Hester and Edna, symbolism in each novel, and how the other characters affect Hester and Edna, which all affect the views on women and femininity. Hester commits adultery by sleeping with Arthur Dimmesdale thus causing her to have a baby with him that she loves dearly. The problem is that Hester already has a husband, whose name is Chillingworth, but she did not love him as much he loved her. Now, she has to wear a scarlet letter, which is an â€Å"A,† on her chest at all times until she finally reveals who the father of her child is. â€Å"Here, there was the taint of deepest sin in the most sacred quality of human life, working such effect that the world was only the darker for this woman’s beauty, and the more lost for the infant that she had borne. † (Hawthorne, 54) The sin that Hester created is hidden behind her beauty and her child. Divine Maternity is a great image for Puritans, which Hester was. As for Edna, she also does not love her husband but she does love her two children. Since Edna does not feel the same way for her husband, feelings for other men start to occur; not only one, but several others. â€Å"Beneath its pink-lined shelter were his wife, Mrs. Pontellier, and young Robert Lebrun. † (Chopin, 2) Robert was one of the men Edna would flirt with and ended up having feelings for. However, Robert cared about Edna too much to have her commit adultery. Both Hester and Edna had to marry during their time, but they did not love their husbands, so they ended up having affairs with another guy, or guys in Edna’s case. Although they both had affairs with someone else, Edna did not actually commit the crime of adultery. She was merely just talking to other guys and developing feelings for them. Hester actually slept with another man and ended up having a baby with him. Hester and Edna’s actions come to show that Hester’s sin is worse than what Edna did, but the two are still very awful. Symbolism plays a huge role in both novels. Pearl is a major dynamic symbol in The Scarlet Letter. She represents the sin of Hester and Dimmesdale. Throughout the novel, she is constantly changing yet still perceived as evil. However, she is named â€Å"Pearl† because of its literal meaning as well. â€Å"But she named the infant ‘Pearl,’ as if being of great price-purchased with all she had-her mother’s only treasure. † (Hawthorne, 85) Pearl is Hester and Dimmesdale’s treasure that they created. The scarlet letter also represents adultery. Hester is to wear it at all times until she finally decides to reveal who the father of Pearl is. The letter prevents Hester from doing whatever she pleases and causes her to become frustrated. As for The Awakening, the Parrot is one of the main symbols. It represents Edna in the way of how her life is like. The parrot is trapped inside a cage and wants to be released so that it can finally spread its wings and fly. This relates to Edna because she wants to escape from her husband, children, and the society so that she can finally be on her own. Water is another symbol in Chopin’s novel. The sea represents Edna’s freedom and escape. It is where she truly feels like she can be herself and safe in solitary. Also, the sea represents rebirth, in which Edna’s awakening is associated with rebirth. However, Edna ends her life in the sea which also shows how horrifying independence can be. The symbols in both stories represent Hester and Edna and how they act. Each symbol does have a different meaning, though and mean different things between each story. It just comes to show how each character is different from each other regarding their personalities and actions. Other characters in the stories affect the main characters and the plot. Dimmesdale, the father of Pearl, is the man Hester committed her sin with. He is forced to hide the fact that he is the father, because Dimmesdale is a respected minister within their society. Dimmesdale and Hester love each other and love Pearl very dearly. Chillingworth is Hester’s husband and is forced to hide his identity by changing his name. He left Hester for 2 years and within those two years, she committed adultery. Chillingworth comes back only to see that Hester has a child with a man that is not him. Chillingworth figured out that it was Dimmesdale and tries to sabotage him. Pearl is Hester and Dimmesdale’s daughter. Pearl tries to make Hester accept er sin. She also makes her mother wear the scarlet letter and will not take it off for the wrong reason. Pearl does not want her mother to run away from her sin but to face up to it, so when Hester tries to run away from her sin, Pearl starts to become stubborn. â€Å"And here by a sudden impulse, she turned to the young clergyman, Mr. Dimmesdale†¦ –â€Å"Speak thou for me! † cried she. â€Å"Thou wast my pastor, and hadst charge of my soul, and knowest me better than these man can. I will not lose the child! Speak for me! Thou knowest–for thou hast sympathies which these men lack†¦ Look thou to it! I will not lose the child! Look to it! † (Hawthorne, 100). By Hester announcing that, it meant that her only true reason for life was for Pearl, and that if the one richness of her life was devoured by Puritan thought and society, she would have lost her. Pearl was everything to her. She was all that she had left to lose, and she would do anything to protect her beloved daughter. In The Awakening, Leonce Pontellier is Edna’s husband and the father of their two children. He does not spend very much time with them due to him always being out doing other goods with his friends or business. Leonce expects Edna to be the perfect wife and mother and treats her with love. Be that as it may, Edna does not feel the same way towards him. Robert is one of Edna’s lovers. During the beginning of the novel, they start flirting with each other, thus developing feelings towards one another. Adele is one of Edna’s good friends and is the ideal female. She helps Edna gain towards her freedom. Mademoiselle Reisz is Edna’s inspiration. She only revolves her life around one thing; music. She has no husband, no children and is a talented pianist. She helps Edna get to where she is during the climax of the story. Hester seems to love Pearl to a greater degree than Edna loves her children, because of her devotion to Pearl, Hester could be seen as stereotypical ‘true woman’ more than than Edna does; not exactly. The commitment of adultery with Dimmesdale is keeping her from having that title. Hester, like Edna, believes that society needs to change its attitude towards women and their role in their society. The difference between the two women is that Hester fees that she has something to lose and if she actually spoke her mind, Pearl would be taken away from her. Edna, however, felt so strongly about the injustices within her society that it became more important to her than her love for her children. Both stories are based on the fact that women are not treated fairly within their society. The two women do not endure their husbands, causing them to have affairs with others. Although, the differences create the actual story for each novel and makes them different in their own way. The actions of the characters really show their personalities. The symbols change how the aspects of the novel and characters are interpreted and other characters affect how the main character is changed. How to cite The Scarlet Letter and the Awakening, Essay examples

Seneca Falls Convention free essay sample

The Seneca Falls convention marked the first time in American history, where in an organized public setting, attention was brought onto the injustices women had endured for years. Women had been painstakingly succumbed to degradations for centuries and this convention, held in upstate New York, would bring them together to form a cause for their overall freedom from man’s idea of who they should be. The Declaration of Rights and Sentiments, written by Elizabeth Cady Stanton, would be the key to unlock those chains that had confined women for so long. The July 19th and 20th Seneca Falls convention would be the documented beginning of the struggle for women’s rights. Although there were many abolitionists and supporters of the women’s rights movement, Elizabeth Stanton and Lucretia Mott came to be remembered as the most significant. In 1840 they first met and created a bond at the World Anti-Slavery Convention held in London. They both, along with five other women, were asked by William Lloyd Garrison to attend. However, when they arrived in England the British abolitionists denied them opportunity to speak or voice their opinions on the matter they had put so much effort and passion into. Instead the female delegates were forced to sit in the gallery in silence. As they sat their fuming with resentment and humiliation, Lucretia Mott and Elizabeth Stanton came to a harsh realization that their rights were equivalent to those of the slaves they had been petitioning for. Stanton and Mott vowed to one another that theyd hold a convention for the rights of women and the injustices they were given at the hands of men. Despite their passion and drive, they did not put this plan into action for 8 years. Between 1840 and 1848 Lucretia Mott and Elizabeth Stanton kept themselves busy by raising families and continuing to participate at the temperance and anti-slavery movements. Lucretia had been married to James Mott, a Quaker preacher and abolitionist. The Motts traveled often so that they could become more active in abolition. Elizabeth had been married to Henry Stanton, a lawyer and anti-slavery activist, and they had both picked up and moved from Boston to Seneca Falls due to financial issues. The town promised prosperity for them with its rich farm land, water power resources, and growing industry. The town was embedded with movements such as temperance, anti-slavery, and revivals, which meant that people from this area were more willing to listen to subjects such as women’s rights. The suggestion for the women’s rights convention resurfaced at a tea party located at Mary Ann M’Clintock’s home in Waterloo, New York on July 16, 1848. Of those attending were Elizabeth Stanton, Lucretia Mott, Martha Wright, Jane Hunt, and Mary Ann M’Clintock. The meeting started out as a normal get together for the elite and ended up on a deep rooted discussion about the injustices women endured. Jane Hunt’s husband advised them to take action rather than complain so the five well educated women put their brilliant minds together and brought Elizabeth Stanton and Lucretia Mott’s dream into a reality. They decided to hold the convention in Seneca Falls within the next week while Lucretia Mott was still in town because her fame was a key component in drawing in a crowd. They got to work immediately because they only had a few days to organize an event that was sure to be eye opening and life changing for most and a possible slap in the face for others. Controversy was expected, but would not deter their efforts. First, they contacted the Wesleyan Chapel’s minister and arranged for the convention to take place there. They also sent a notice to the Seneca County Courier stating the time and place the event would be held. The notice went through on July 11 and stated that the convention would be over the conditions and rights of women. Lucretia Mott was the only one mentioned because of her fame, and the others did not give their signatures. Instead, they addressed themselves as the â€Å"Women of Seneca Falls, New York† and that they’d be addressing the concerns of all. Due to the spontaneity of the events Elizabeth Stanton feared only a small group of people would show up or the convention would be disturbed by protestors. Lucretia Mott reassured her that despite the possibility of just a small crowd the event will be a start to many conventions to follow. Elizabeth Stanton composed a document of grievances that women have faced and resolutions to back them up. She did this by molding Thomas Jefferson’s Declaration of Independence. Elizabeth Stanton and the four other women named the document the Declaration of Rights and Sentiments. It began by stating, â€Å"All men and women are created equal,† which became the overall message for the women’s movement across the United States. Elizabeth Stanton replaced the 18 grievances, the colonists made against King George, with injustices women faced due to men. The grievances expressed that women were socially, emotionally, and politically injured by men. The document put all the responsibility of the injustices women faced solely on men. Once a woman was married she had no rights to her property or money, and if divorced from her husband she’d lose custody of her children. Women made lower wages than men, were prevented from being represented in elected bodies, and had no access to lucrative careers in medicine and law. Women were forced to have a subordinate role in the church, were expected to have higher morals than men, and were confined to a domestic sphere. The most important piece to this document was the resolutions, which laid out concrete ideas on how to better women’s lives. One resolution stated that men should be required to express delicacy and refined behavior as women are told to do, women should have the same responsibilities required of men, and women should be given the right to vote. Elizabeth Stanton pushed the voting resolution even against Lucretia Mott’s advice. Out of all five women, Stanton was the only one who wasn’t a Quaker. Quakers believe that women should stay out of politics. However, Elizabeth Stanton stuck by her decision because she knew this was the only way to obtain total equality. The other women eventually agreed upon it and the Declaration of Rights and Sentiments, along with the Resolutions, were completed with the convention just days away. The event was sure to bring radical ideas to the table and attention from both admirers and detractors. Three Hundred men and women awaited outside Wesleyan Chapel’s doors on Wednesday July 19th. It had been planned that only women attend the first session, but the organizers allowed the men to stay as long as they listened and didn’t speak. Quakers made up the largest denomination of the audience, but many Episcopalians, Congregationalists, and Methodists were dispersed throughout the crowd. The convention was supposed to begin at 10 am, but the organizers forgot to request a key beforehand. After a volunteer climbed through the church window and opened the doors from the inside, the convention finally began at 11 am. After Lucretia’s husband presided the convention Elizabeth Stanton approached the crowd and stated that women worldwide had faced injustices perpetrated by men and she advised women to take a stand and fight for equality. She went on to explain that these injustices had been around for far too long and that women have become numb to them. Lucretia Mott and Elizabeth Stanton encouraged those women to take a stand, pursue their rights, and join the cause. Elizabeth Stanton then introduced the Declarations of Rights and Sentiments followed by the 11 resolutions. Lucretia Mott then urged men to join the cause as well and to stand beside women in their pursuit to freedom. The first session went well and adjourned at 2:30pm. Some weren’t impressed with the Declaration of Rights and Sentiments as they stated that it elevated white women above immigrants and black men, and most of the grievances only pertained to the upper and middle class. However, many people were ecstatic with the results and word spread quickly that Seneca Falls was holding a revolutionary event on July 20th. The second session’s attendance was larger and more men showed up than the first day. Elizabeth Stanton read the Declaration of Rights and Sentiments and after a discussion the document was adopted unanimously. Next up were the resolutions and all 11 of them came up for an individual vote. The ninth resolution, which was the right to vote, was the only one that faced opposition. Most of the audience agreed that women should not have a role in politics, but the husband represents the wife’s vote, and the whole voting process would destroy women’s morals. It seemed to be a lost cause until Frederick Douglas, a former slave now abolitionist, declared that he could not ask for the same rights if women were denied of them and he convinced many members of the audience that female suffrage was crucial in the course of their movement so that they could protect their rights. Thanks to Frederick Douglas all of the resolutions were passed. The Declaration of Rights and Sentiments brought on one last debate as the convention came to an end; whether or not both women and men should sign the document. They came to a compromise as 68 women signed one sheet of paper and 32 men signed a separate sheet, and those who gave their signature varied greatly in status from upper to working class. There was a lot of negative feedback such as sarcasm, mockery, and belittlement coming into Seneca Falls from all over the country. Due to shame and embarrassment a few of the signers withdrew their names from the Declaration of Rights and Sentiments. Out of the 100 people that signed the document, only one person, Charlotte Woodard Pierce, lived to see women vote in 1920, 72 years after the Seneca Falls convention. The 1848 Seneca Falls convention marked the start of a series of events to follow in the women’s rights movement. Women all over the country found courage to join the cause and stand up for their rights. Those brave and dedicated women who orchestrated the convention shaped America as we know it, and without their efforts we could still be waiting for equality and justice to come around.

The 1970s Essay Example For Students

The 1970s Essay The 1970s were a time of great change in America. Women werespeaking out for their rights. The war in Vietnam was raging. Presidentswere being impeached. African Americans were speaking out againstoppression. It seemed lie everyone was protesting everything. There weremany changes happening both good and bad. Many of the things people did inthe 60s carried over to the 70s. Protests drugs and violence were verybig very real things. First the parents of the 70s were criticized about how they raisedthe kids and new ways of parenting started to be developed. Kids wereleft alone and many were in therapy. Also women rights were just startingto blossom and many sexist business and clubs were changed to accommodatethe women of the 70s. No longer were they just supposed to take a backseat to men. Another major event of the 70s was the war in Vietnam. Many youngmen died during the war. If they were not dead however, they were crazyfrom the pain and agony of war. Many young men from America were shippedout as soon as they turned 18 and there was not one thing they could dobut go. It was a terrible war and many people for got about it. We will write a custom essay on The 1970s specifically for you for only $16.38 $13.9/page Order now Finally, President Richard M. Nixon (Tricky Dick) was impeached forthe Watergate scandal. The Watergate scandal was an event was people onthe committee to re-elect the president went into democratic head quartersand tampered with election items. This resulted in the president beingimpeached but he later resigned to lessen the embarrassment. In conclusion the 70s was a time of great change in America. Manythings happened and some were great and some were bad. But America wouldnot be what it is today without the defining time of the 1970s. America Bilingual?The question that many people are trying to answer is should America theland of opportunity be an official Bilingual Language Country. Some sayyes and others say no there is no real clear way or answer but here aresome things that may help your decision. First the reasons why America should be a bilingual country aresimple. 1) If America were a bilingual country more people would be ableto get jobs and buy homes and other items. 2) Being a bilingual countrywould make people closer and the country unite even more than now. 3)People would be able to come from other countries and communicate withAmericans. Finally more people would come to America and not be held backby the language barrier. Next here are the reasons why America should not be a bilingualcountry. 1) More people will come to America to try and find opportunityand take jobs from Americans who were here first. 2) People will need tolearn a new language witch will be hard and time consuming. 3) Lots ofthings will need to be changed to accommodate the new language. Finallymany American will refuse this idea and it will not work properly. I believe that America should become a bilingual country because most ofthe countries in the world are bilingual. Then America would look like itis more united and other countries wont think that Americans think thatthey are the best. Also more people will be able to get jobs and purchaseitems and the economy of the country will be greatly improved. It also isa way to bring Americans to gather and sew all the links that make thiscountry great together and form an unbreakable chain of brother hood thatwill keep this county going for Centuries to come.

Testing the hypothesis that monetary policy responds to stock market movements The WritePass Journal

Testing the hypothesis that monetary policy responds to stock market movements Abstract Testing the hypothesis that monetary policy responds to stock market movements AbstractIntroductionMonetary policy should or should not responds to stock market movementsSupporting the hypothesisRejecting the hypothesisTesting significant coefficientsTesting a good fitTesting autocorrelationTesting heteroskedasticityTesting misspecificationGeneralized method of moments (GMM)Interpreting resultsConclusionReferencesRelated Abstract This paper highlights a problem in using the OLS model of Taylor’s rule, including lagged value of fed funds rate and stock indexs return to address whether the monetary policy should respond to asset prices movement or not. However, to know more exactly about the direct or indirect relationship between stock prices and the monetary rules, the more efficient method of Generalized method of moments (GMM) needs to be carried out based on an instrument list of output gap, growth rate of real GDP and inflation. The combination of two above methods gives reasonable results in our empirical framework. In order to derive accuracy empirical result, two country (US 1990-2009, UK 1990-2009) data would be provided in the paper. Introduction In modern macroeconomics, there is a considerable amount of interest in understanding the question whether the central banks should response or ignore asset price volatility. This question has been a controversial issue since the Federal Reserve Chairman Greenspan sparked it, as one of irrational exuberance as early as 1996, then was followed by Bernanke and Gertler (1999), Cecchetti (2000), Adam Posen (2006) and many other authors. No agreement has been reached but what all researchers agree on is the necessity of further research on the nature of asset price movement, how they affect the economy and the effect of money policy on volatilities. This paper attempts to estimate this multilateral relationship based on ongoing researches in this field. There are several reasons why the correlation between monetary-policy framework and asset bubbles is an important issue. From the perspective of central banks, dependable estimates of the reflection of asset prices to the policy instrument plays an essential role in formulating effective policy decisions. In reality, the effect of the short-term interest rates on asset prices has caused much of transmission of inflation targeting. Moreover, the attention of financial press for the Federal Reserve performance states the significant influence of monetary on financial markets. Hence, a well-performed economy does need to have accurate estimates of the reaction of asset prices to monetary policy. In order to approach these issues, we develop an OLS estimation using simple regression Taylor Rule (1993) and apply Generalized Method of Moments (GMM) to deal with the relationship between monetary policy and asset price movements. The paper proceeds as follows. Section 2 presents the theoretical framework, in which empirical debates from recent authors including supporting and rejecting are particularly discussed. Data and Testing Method and Empirical Framework are described in section 3. Section 4, empirical framework, is going to present the descriptive statistics with testing procedures of hypothesises. Results on the responsiveness of stock prices and interest rates to monetary policy coming through all of the actual testing process from data collection are presented in section 5 and section 6. Theoretical Framework How a central bank should set short-term interest rates Taylor (1993)[1] estimated policy reaction functions and found that monetary policy can often be well approximated empirically by a simple instrument rule for interest rate setting. The following is one variant of the Taylor rule: it = r* + Ï€* + ÃŽ ²(Ï€t – Ï€*) + ÃŽ ³(yt – yN) where ÃŽ ² , ÃŽ ³ 0; r* is the average (long-run) real interest rate. Taylor (1993) found that ÃŽ ²=1.5 and ÃŽ ³=0.5: it = r* + Ï€* + 1.5(Ï€t – Ï€*) + 0.5(yt – yN) The Taylor rule is acknowledged by all to be a simple approximation to actual policy behavior. It represents a complex process with a small number of parameters. Monetary policy should or should not responds to stock market movements In recent decades, in line with the development of stock market, which provide information about the current and future course of monetary policy goal variables – inflation, employment, and output, the monetary authority should respond to equity price. A more controversial role of equity prices in the monetary policy process concerns whether the monetary policy should or should not take a direct interest in stock market. It has attracted many researchers to discuss about the usefulness and test the validity of the hypothesis that monetary policy responds to stock market movements. Those researches have created many different results of both supporting and rejecting the hypothesis. Supporting the hypothesis Some of the supporters for the hypothesis that the reaction to misalignments in stock prices would have impact on the monetary policy rules are Cecchetti et al. (2000), and Jeff Fuhrer and Geoff Tootell (2004). Cecchetti used a linear rational expectations model, focusing on the output gap and inflation expectations some primary elements in the policy rules- to support the hypothesis. Hence, the result showed that if the estimation errors are positively correlated, both inflation and misalignments with a positive coefficient increases the impact on the monetary policy. By contrast, Jeff Fuhrer and Geoff Tootell took the regression from the form of Taylor policy that used correlations among the funds rate and the gap measure, a four-quarter moving average of inflation, the real GDP and the lags of stock prices. After that, they used GMM to estimate the regression. Because the data used are ex-post, the policy actions should be taken to the stock prices movements. However, there are still some contention is that this counter-argument is not entirely valid and these come from several antagonists like Bernanke and Gertler with their predominant abstractions (1999 and 2001). Rejecting the hypothesis There have been a significant number of advocates against the responsiveness of central banks to asset price movement in their policy formulation so far. Two of the most important contributors in this field are Bernanke and Gertler with their two seminal studies (1999 and 2001). On the basis of non-optimizing models of monetary policy, where coefficients of interest rates on GDP and inflation is selected specifically, Bernanke and Gertler generated the result that inflation-targeting policymakers should not take asset prices into account other than changes in expected inflation are foreshadowed. Adam Posen (2006), likewise, has argued that central banks need not target asset prices, but would be well advised to monitor them, when those bubbles get very far out of line. By studying the correlation between periods of monetary easing and property bubbles, he found the hypothesis that quantitative easing would result in asset volatility unsupported. These results are challenged among other researchers including Roubini Nouriel (2006), Andrew Filardo (2004), especially Stephen Cecchetti (2000). Cecchetti arrived at the different results, even though one portion of the testing method he employed was the same with Bernanke and Gertler (1999). Data and testing method U.S. Data selection The data that being selected reflects the period from Q1/1990 to Q4/2009 in the U.S., including time series of Inflation: Cpi all Items City Average   /Index Number /Base year: 2005 /averages   /Cnt: United States   /Source: IMF, Wash Fed Funds Rates: Discount Rate (end of Period)   /percent per annum /stocks   /Cnt: United States   /Source: IMF, Wash Real GDP: Gdp vol 2005 Ref., Chained   /U.s. Dollars ,billions of .. /averages /constant prices (seas. /Cnt: United States   /Source: IMF, Wash SP500 stock index: Finance.Yahoo.Com, the quarterly close price index. Stock Index SP500 is chosen because it is typically weighted averages of the prices of the component stocks. Very often dividends are excluded from the return calculation of the index. The composition of most indices changes occasionally, so that a long time series will not be made up of return from a homogeneous asset. In this paper, we prefer the continuous compounded definition of using logarithm because multi-period returns are then sums of single-period returns. This could make time series of data more smoothing and increase the exactness of estimation[2]. The regressions take the form of Taylor rule, augmented to allow partial-adjustment or â€Å"interest rate smoothing†, or more simply the conclusion of a lagged fed funds rate, as discussed in Clarida, Gali, and Gertler (1998). We begin with the regression, in which the fed funds rate responds to contemporaneous observations on a â€Å"gap† measure (either the unemployment rate or a Hodrick-Prescott detrended real GDP gap[3]), a four-quarter moving average of an inflation measure, the growth rate of real GDP, and lags of a variety of stock price measures. Unit root test for f – log(fed funds rate) Possibly, there is some omitted variables causing autocorrelation. We need to use unit root tests for random variables. Null Hypothesis: F has a unit root Exogenous: Constant Lag Length: 4 (Automatic based on SIC, maxlag=11) t-Statistic   Ã‚  Prob.* Augmented Dickey-Fuller test statistic -3.380296   0.0148 *MacKinnon (1996) one-sided p-values. As might be seen from the graph, there is a downward trend of fed funds interest rates. The unit root test gives an idea that there should be an inclusion of a lagged dependent variable  Ã‚   Inflation – 100*(log(CPI)t-log(CPI)t-4) Delta_Y – 100*(log(real_gdp)t-log(real_gdp)t-1) GAP – a Hodrick-Prescott detrended real GDP gap U.K. Data selection The following covers the period from Q1/1990 to Q4/2009 in U.K, including time series of   Inflation: Cpi all Items City Average   /Index Number /Base year: 2005 /averages   /Cnt: United States   /Source: IMF, Wash Bank of England Interest Rates: Discount Rate (end of Period)   /percent per annum /stocks   /Cnt: United States   /Source: IMF, Wash Real GDP: Gdp vol 2005 Ref., Chained   /U.s. Dollars ,billions of .. /averages /constant prices (seas. /Cnt: United States   /Source: IMF, Wash FTSE 100 stock index: Finance.Yahoo.Com, the quarterly close price index. Stock Index FTSE 100 is chosen because it is typically weighted averages of the prices of the component stocks. Very often dividends are excluded from the return calculation of the index. The composition of most indices changes occasionally, so that a long time series will not be made up of return from a homogeneous asset. In this paper, we prefer the continuous compounded definition of using logarithm because multi-period returns are then sums of single-period returns. This could make time series of data more smoothing and increase the exactness of estimation[4]. The regressions take the form of Taylor rule, augmented to allow partial-adjustment or â€Å"interest rate smoothing†, or more simply the conclusion of a lagged fed funds rate, as discussed in Clarida, Gali, and Gertler (1998). We begin with the regression, in which the fed funds rate responds to contemporaneous observations on a â€Å"gap† measure (either the unemployment rate or a Hodrick-Prescott detrended real GDP gap[5]), a four-quarter moving average of an inflation measure, the growth rate of real GDP, and lags of a variety of stock price measures. Unit root test for f – log(fed funds rate) Possibly, there is some omitted variables causing autocorrelation. We need to use unit root tests for random variables. Null Hypothesis: I has a unit root Exogenous: Constant Lag Length: 1 (Automatic based on SIC, maxlag=11) t-Statistic Prob.* Augmented Dickey-Fuller test statistic -1.281177 0.6347 As might be seen from the graph, there is a downward trend of fed funds interest rates. The unit root test gives an idea that there should be an inclusion of a lagged dependent variable. Inflation – 100*(log(CPI)t-log(CPI)t-4)        Ã‚   OUTPUT_GAP   – 100*(log(real_gdp)t-log(real_gdp)t-1) Empirical Framework U.S. Data test section Methodology Following the Taylor’s rule, a regression of the model below is going to be estimated: It = a + bIt-1 + cGapt + dΔyt + zÏ€t + ∑ekst-k (1) In which: It: the quarterly average of the daily observations on the federal funds rate Gapt: the Hodrick-Prescott detrended real GDP gap Ï€t: the four-quarter moving average of the rate of inflation in the consumer price index Δyt: the quarterly percentage change in real GDP st-k: the quarterly percentage change in a stock price index, lagged as k intervals We choose this specification to begin with because it represents a simple augmentation of the canonical Taylor rule, without worrying about the potential simultaneity between the current funds rate and the current stock prices[6]. Importantly, (1) differs from (0) since we consider more lagged values of the fed funds rates (It-1) and the asset price movements (∑ekst-k). When we estimate equation (1), we set the following null hypothesi { H0: ek = 0 H0: ek # 0 If we accept the above null hypothesis, we may safely claim that monetary policy is not accepted by asset price movements. If we reject the above null hypothesis, we may safely claim that asset price movements play a role in determining monetary policy. We start estimating equation (1) by using only one lag of st and then we proceed from specific to general to decide the correct number of lags (in other words, we estimate the model again by including more lags until we meet a lagged regressor, which is not significan Eview results of estimating equation (1) using 1 lagged value of st Dependent Variable: F Method: Least Squares Date: 02/07/11  Ã‚   Time: 23:57 Sample (adjusted): 1991Q1 2009Q4 Included observations: 76 after adjustments Variable Coefficient Std. Error t-Statistic Prob. C -0.123706 0.082768 -1.494617 0.1395 F(-1) 0.852312 0.051377 16.58952 0.0000 GAP 0.010505 0.028245 0.371928 0.7111 DELTA_Y 0.129730 0.040953 3.167808 0.0023 INFLATION 0.064981 0.026331 2.467884 0.0160 S(-1) 0.010320 0.003063 3.368900 0.0012 R-squared 0.918894   Ã‚  Ã‚  Ã‚  Mean dependent var 1.194237 Adjusted R-squared 0.913101   Ã‚  Ã‚  Ã‚  S.D. dependent var 0.658791 S.E. of regression 0.194203   Ã‚  Ã‚  Ã‚  Akaike info criterion -0.364172 Sum squared resid 2.640028   Ã‚  Ã‚  Ã‚  Schwarz criterion -0.180167 Log likelihood 19.83853   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. -0.290634 F-statistic 158.6138   Ã‚  Ã‚  Ã‚  Durbin-Watson stat 1.742329 Prob(F-statistic) 0.000000 It might be noted that the coefficient to s(-1) of 0.010320 is positive and statistically significant (p-value=0.0012 much lower than ÃŽ ±=0.05).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Eview results of re-estimating equation (1) using 2 lagged value of st Dependent Variable: F Method: Least Squares Date: 02/07/11  Ã‚   Time: 23:59 Sample (adjusted): 1991Q1 2009Q4 Included observations: 76 after adjustments Variable Coefficient Std. Error t-Statistic Prob. C -0.150214 0.086749 -1.731607 0.0878 F(-1) 0.869165 0.053967 16.10563 0.0000 GAP 0.008441 0.028311 0.298142 0.7665 DELTA_Y 0.148092 0.044741 3.310002 0.0015 INFLATION 0.064308 0.026332 2.442183 0.0172 S(-1) 0.009965 0.003082 3.232900 0.0019 S(-2) -0.003290 0.003233 -1.017793 0.3123 R-squared 0.920094   Ã‚  Ã‚  Ã‚  Mean dependent var 1.194237 Adjusted R-squared 0.913145   Ã‚  Ã‚  Ã‚  S.D. dependent var 0.658791 S.E. of regression 0.194153   Ã‚  Ã‚  Ã‚  Akaike info criterion -0.352758 Sum squared resid 2.600980   Ã‚  Ã‚  Ã‚  Schwarz criterion -0.138085 Log likelihood 20.40479   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. -0.266964 F-statistic 132.4186   Ã‚  Ã‚  Ã‚  Durbin-Watson stat 1.789665 Prob(F-statistic) 0.000000 We may note that the second lag of s (s(-2) of -0.003290) is not significant (p-value of 0.3123 much higher than ÃŽ ±=0.05) whereas the first lag s(-1) is still positive and significant (p-value=0.0019 lower than ÃŽ ±=0.05). This implies that the correct choice about the number of lags implies that we need to include only the first lagged value of the stock index’s return. Testing significant coefficients The statistically significant positive coefficient to s(-1) implies that the asset price goes up Fed should increase interest rate. Inflation and real GDP growth rate are significant (p-values are 0.0023 and 0.0160 less than ÃŽ ±=0.05) whereas gap is insignificant (p-value of 0.7665 much higher than ÃŽ ±=0.05). However, there are some conflicts with the theory if the gap is removed out of the specification.   Indeed, R-squared and Adjusted R-squared show that the model explains the dependent variable more than 90%. It is necessary to examine the model by applying GMM (the generalized method of moments). Testing a good fit As we can see, R2 of 0.918894 and Adjusted R2 of 0.913101 show that the model explains above 90% changes of fed fund rates. F-statistic also depicts that all regressors are jointly significant. This seems to support the view of Cecchetti et al. (2000).                  Testing autocorrelation Durbin’s h test, with n=76, we have   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   d = 1.742329   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   h=(1-d/2)√(n/(1-n/error(b))) = 1.2559142007 z-critical = 1.96 We cannot reject H0 of Durbin’s h test and conclude that this model does not suffer from serial correlation. Breusch-Godfrey Serial Correlation LM Test: F-statistic 1.001164   Ã‚  Ã‚  Ã‚  Prob. F(4,66) 0.4134 Obs*R-squared 4.347625   Ã‚  Ã‚  Ã‚  Prob. Chi-Square(4) 0.3610 Both the LM statistic and the F statistic are quite low, suggesting that we cannot reject the null of no serial correlation (p-value of 0.3610 is much higher than ÃŽ ±=0.05). Therefore, both Durbin’s h and Breusche-Godfrey test conclude that this model does not suffer from autocorrelation. The analysis above lets us to give a positive answer to the first question we posed before. The significance of the lagged value of s implies that asset price movement plays a role in refining monetary policy. Testing heteroskedasticity Both Breusch-Pagan-Godfrey statistic (16.19839) and F statistic (3.792163) are quite high, suggesting the rejection of the null hypothesis of the heteroskedasticity test (p-values of 0.0063 and 0.0043 are much less than ÃŽ ±=0.05). As can be seen from the test results, coefficients of gap, delta_y, and s(-1) are insignificant. Contrastingly, the inflation might have certain impact on the variance of the error terms. Heteroskedasticity Test: Breusch-Pagan-Godfrey F-statistic 3.792163   Ã‚  Ã‚  Ã‚  Prob. F(5,70) 0.0043 Obs*R-squared 16.19839   Ã‚  Ã‚  Ã‚  Prob. Chi-Square(5) 0.0063 Scaled explained SS 55.18278   Ã‚  Ã‚  Ã‚  Prob. Chi-Square(5) 0.0000 With White’s test with no cross products, the p-values of both White’s statistic (0.0895) and F statistic (0.0879) are higher than ÃŽ ±=0.05 and these tests do not conclude a rejection of no heteroskedasticity. Heteroskedasticity Test: White F-statistic 2.009014   Ã‚  Ã‚  Ã‚  Prob. F(5,70) 0.0879 Obs*R-squared 9.537445   Ã‚  Ã‚  Ã‚  Prob. Chi-Square(5) 0.0895 Scaled explained SS 32.49105   Ã‚  Ã‚  Ã‚  Prob. Chi-Square(5) 0.0000 In White’s test with cross products, both White’s statistic F statistic with p-values nearly zero illustrate that there is a conclusion of a rejection of no heteroskedasticity. Therefore, there is evidence of heteroskedasticity. Intuitively, delta_y*s(-1) and inflation*s(-1) do not have a significant impact on the variance of error terms (p-values are 0.3398 and 0.2187 much higher than ÃŽ ±=0.05, respectively). This might imply that the relationship between delta_y and inflation with s(-1) should be examined in GMM application. Heteroskedasticity Test: White  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  F-statistic 7.540388   Ã‚  Ã‚  Ã‚  Prob. F(20,55) 0.0000 Obs*R-squared 55.68978   Ã‚  Ã‚  Ã‚  Prob. Chi-Square(20) 0.0000 Scaled explained SS 189.7174   Ã‚  Ã‚  Ã‚  Prob. Chi-Square(20) 0.0000 The graph of residuals also shows that the model does not fit the data precisely (there are more and more underestimates and overestimates, especially from 2000 to 2009). Testing heteroskedasticity possibly implies that the traditional view as the equation (1) might be violated by heteroskedasticity of cross products. The co-efficiencies are still unbiased and consistent. This has a wide impact on hypothesis testing neither the t statistics or the F statistics are reliable any more for hypothesis testing because they will lead us to reject the null hypothesis too often. This is possible reason to examine whether the relationship between the stock index’s return and fed funds rate is direct or indirect. Testing misspecification In Ramsey RESET test, since the p-values of 0.1056 (Likelihood ratio) and 0.1245 (F-statistic) are both higher than ÃŽ ±=0.05, we cannot reject the null hypothesis of correct specification. Notice, as well, that the coefficient of the squared fitted term is not significant (t-stat = 1.555220). Ramsey RESET Test Equation: LAG1_V Specification: F C F(-1) GAP DELTA_Y INFLATION S(-1) Omitted Variables: Squares of fitted values Value df Probability t-statistic   1.555220   69   0.1245 F-statistic   2.418708 (1, 69)   0.1245 Likelihood ratio   2.618454   1   0.1056 Generalized method of moments (GMM) We will evaluate whether the asset price movement plays a role directly or indirectly through its effects on inflation and output growth. We can do this by using a GMM estimator, which is an instrumental variable approach. By applying the forward-looking extension for Taylor rule, the instrument list of gap (a Hodrick-Prescott detrended real GDP gap), delta_y (the growth rate of real GDP) and inflation (inflation rate) will be taken to perform GMM. Dependent Variable: F Method: Generalized Method of Moments Date: 02/13/11  Ã‚   Time: 14:11 Sample (adjusted): 1991Q1 2009Q1 Included observations: 73 after adjustments Linear estimation with 1 weight update Estimation weighting matrix: HAC (Bartlett kernel, Newey-West fixed   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  bandwidth = 4.0000) Standard errors covariance computed using estimation weighting matrix Instrument specification: GAP(+1) GAP(+2) GAP(+3) DELTA_Y(+1)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  DELTA_Y(+2) DELTA_Y(+3) INFLATION(+1) INFLATION(+2)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  INFLATION(+3) Constant added to instrument list Variable Coefficient Std. Error t-Statistic Prob. C 0.111616 0.401825 0.277772 0.7820 F(-1) 0.658808 0.294358 2.238116 0.0285 GAP 0.065476 0.072798 0.899426 0.3716 DELTA_Y 0.169216 0.215013 0.787001 0.4341 INFLATION 0.050838 0.045147 1.126059 0.2642 S(-1) 0.028287 0.029343 0.964010 0.3385 Interpreting results The relationship between inflation and real GDP with fed funds rate As OLS’ result, the growth rate of real GDP and inflation affects positively the dependent variable and it is statistically significant, while the gap is not. However, it might be spurious if the gap is removed because the heteroskedasticity testing shows that the OLS model (1) is no longer the most efficient estimator[1]. The relationship between FTSE100 and Bank of England interest rate As GMM’s result, it is important to pay attention to the coefficient associated to s(-1). As OLS’ result, it is positive and significant but this time it is not statistically significant in GMM’s result. This implies that the asset price movements affect the way in which the monetary policy is set only indirectly and not directly.   Consequently, asset price movements have impact on fed funds rates indirectly. Conclusion In conclusion, the results of this project show that the hypothesis that refer to whether the volatility of the stock price would affect the monetary policy, in some mood, is proved to be indirectly impact the policy making. These results might be caused by the limitation of this project. Compare to Cecchetti et al. (2000) who focused on using some estimation of primary elements in the policy rules, including the output gap and inflation expectations to produce the hypothesis. He supposed that these elements would have to depend on some estimation of the evolution of stock prices providing that the asset prices affect the economy’s path. However, we build up two models to by OLS and GMN to test the hypothesis. For GMM, we compare the data and observe that the co-efficient are insignificant. At this time, we switch to OLS model, surprisingly found that the co-efficient of GAP is insignificant. Moreover, it is still controversial to clear about the strength of the endogeneity test for GMM estimation because we do not have another test to compare with. This is the reason why the instrument list we choose is still controversial. However, the data we estimate is enough that is perfectly applies to the line with the theory of Taylor rule that is approximately well estimated, significant of R, Two of the most important contributors in this field are Bernanke and Gertler with their two seminal studies (1999 and 2001). On the basis of non-optimizing models of monetary policy, where coefficients of interest rates on GDP and inflation is selected specifically, Bernanke and Gertler generated the result that inflation-targeting policymakers should not take asset prices into account other than changes in expected inflation are foreshadowed. Adam Posen (2006), likewise, has argued that central banks need not target asset prices, but would be well advised to monitor them, when those bubbles get very far out of line. By studying the correlation between periods of monetary easing and property bubbles, he found the hypothesis that quantitative easing would result in asset volatility unsupported. Therefore, the results of t his project may reflect the nature. It is likely that the volatility of stock price would have effect on the monetary policy. In order to meet the needs of inflation targeting which is proved by the classical economy theory that slightly inflation could stimulate the real economy, the central bank authorities do evaluate these two factors when making monetary policy decision to maintain the asset price is neither too high nor too low so does the inflation rate. References Jeff Fuhrer and Geoff Tootell. â€Å"Eyes on the Prize: How Did the Fed Respond to the Stock Market†. Federal Reserve Bank of Boston, Discussion Papers, April 2004, No. 04-2. Bernanke, Ben and Gertler, Mark. â€Å"Money Policy and Asset Volatility†. Federal Reserve Bank of Kansas City Economic Review, Fourth Quarter 1999, 84(4), pp. 17-52. Bernanke, Ben and Mark Gertler â€Å"Should Central Banks Respond to Movements in Asset Prices† American Economic Review, May 2001. Posen, Adam S. (2006) â€Å"Why Central Banks Should not Burst Bubbles†, Institute for International Economics, Washington, DC, working paper 01/06. Filardo, Andrew (2004) â€Å"Monetary Policy and Asset Price Bubbles: Calibrating the Monetary Policy Trade-Offs,† BIS working paper No.155, Basel. Roubini, Nouriel, (2006), â€Å"Why Central Banks Should Burst Bubbles†. International Finance 9, no.1 Cecchetti, Stephen ; Genberg, Hans; Lipsky, Jonhn and Wadhwani, Sushil. â€Å"Asset Prices and Central Bank Policy†. LondonInternationalCenter for Monetary and Banking Studies, 2000 Stephen J.Taylor. â€Å"Asset Price Dynamics, Volatility, and Prediction†. PrincetonUniversity Press 2005. Dimitrios Asteriou and Stephen G.Hall. â€Å"Applied Econometrics – A modern approach†, Palgrave Macmillan, revised edition 2006, 2007. H.Studentmund. â€Å"Using Econometrics: A practical Guide†. Pearson 2000, International Edition, 5th edition. Jeff Fuhrer and Geoff Tootell. â€Å"Eyes on the Prize: How Did the Fed Respond to the Stock Market†. Federal Reserve Bank of Boston, Discussion Papers, April 2004, No. 04-2. Bernanke, Ben and Gertler, Mark. â€Å"Money Policy and Asset Volatility†. Federal Reserve Bank of Kansas City Economic Review, Fourth Quarter 1999, 84(4), pp. 17-52. Bernanke, Ben and Mark Gertler â€Å"Should Central Banks Respond to Movements in Asset Prices† American Economic Review, May 2001. Posen, Adam S. (2006) â€Å"Why Central Banks Should not Burst Bubbles†, Institute for International Economics, Washington, DC, working paper 01/06. Filardo, Andrew (2004) â€Å"Monetary Policy and Asset Price Bubbles: Calibrating the Monetary Policy Trade-Offs,† BIS working paper No.155, Basel Roubini, Nouriel, (2006), â€Å"Why Central Banks Should Burst Bubbles†. International Finance 9, no. Cecchetti, Stephen ; Genberg, Hans; Lipsky, Jonhn and Wadhwani, Sushil. â€Å"Asset Prices and Central Bank Policy†. LondonInternationalCenter for Monetary and Banking Studies, 2000 Stephen J.Taylor. â€Å"Asset Price Dynamics, Volatility, and Prediction†. PrincetonUniversity Press 2005 Dimitrios Asteriou and Stephen G.Hall. â€Å"Applied Econometrics – A modern approach†, Palgrave Macmillan, revised edition 2006, 2007. H.Studentmund. â€Å"Using Econometrics: A practical Guide†. Pearson 2000, International Edition, 5th edition.

Gender Disparities and Gendered Miseries in Divakarunis One Amazing T Essay

Gender Disparities and Gendered Miseries in Divakarunis One Amazing Thing - Essay Example In One Amazing Thing, Divakaruni argues that gender discrimination produces women who are unhappy with themselves and their lives because of the gender norms and expectations that hinder them from developing their abilities and taking risks for their loved ones. Womanhood does not necessarily mean personhood, and without personhood, happiness and self-development are elusive. Gender discrimination, despite state policies that promote gender sensitivity and equality, manifests through gender norms, including son preference. In â€Å"Explaining Son Preference in Rural India: The Independent Role of Structural versus Individual Factors,† Pande and Astone studied the reasons for son preference in rural India. They concentrated on son preference as an effect of interest, and they theorized that a person’s son preference is a product of a complex process that the society, the household, and the individual factors shape. They investigate these factors that affected son preference from the late 1980s and early 1990s. Their sampling included 50,136 ever-married women. Findings showed that social norms, household and individual factors impact the decision to prefer sons over daughters. The same practice is evident in One Amazing Thing. Mohit’s parents do not want him to marry a Chinese woman, whom they think does not deserve to marry an affluen t rich Indian man. Their preference for the son superseded their preference for their son’s happiness. Gender discrimination produces unfair gender norms and expectations that delimit women’s capacity for self-development. Mrs. Pritchett wants to feel loved, but she feels it is too late for she married a self-centered man who is unaware of her needs as a woman. She has not developed her personhood because of her restrictions as a woman. Mangalam experiences sexual harassment, though this gives her power over a life of poverty. Nevertheless, her experience shows that because she  is poor and a woman, she cannot attain the kind of life she wants to have. Sexual harassment is common in patriarchal countries (Gupta 95).

MARKETING COMMUNICATIONS REVIEW Essay Example | Topics and Well Written Essays - 3000 words

MARKETING COMMUNICATIONS REVIEW - Essay Example All of a sudden, international marketing is a vital skill and knowledge for a company to have. By means of the rapid progression of information technology, as we all know, the detachment almost does not exist anymore. All intercontinental corporations have to expand international marketing strategies. so, to understand international marketing improved, a detailed understanding of the a variety of stages that a business undergoes to turn into a intercontinental business is required. Basically, there are 4 stages that a business goes during before it finally becomes a intercontinental business. These 4 stages are Domestic, International, Multinational and international. The 5th stage may be termed as Transnational. In the domestic stage of a business, the only target market of the business exists in the home country. It can be said that the whole vision of the world for the company is limited to the home country. In this stage of growth the orientation of the business is ethnocentric. The 21st century has made the cosmetic surgery business very profitable. No doubt, television reality shows have put a spin on the process by targeting daily people and marketing it as an alteration or a new beginning kind of experience. Cosmetic events can be surgical and non-surgical. Surgical methods comprise facelifts and liposuction, and are performed in a surgeon's office-based ability, an outpatient surgery center, or a hospital. It's typically done on an outpatient basis, but a few surgeons may hospitalize patients for a day when using all-purpose anesthesia. Non-surgical events include Botox injections as well as Laser Resurfacing, typically performed in a surgeon's workplace in less than an hour. Three major reasons for having a cosmetic process are changing an innate trait for instance a "nose job," the second reason is to turn back time and reduce the effects of aging, and lastly body contouring for instance liposuction as well as a breast lift. Another reason would be h aving a mutilation due to an accident or a birth defect. Marketing Role Definition: Marketing is the mainly influential weapon obtainable to a business; though, marketing is frequently confused by means of sales and advertising. It is noted that commerce need to appreciate that marketing is much more than that. Marketing, in fact, has a variety of roltes in a firm or business; initially, it connects the commerce with its target market, it provides the main link among the business and its customers. Secondly, as marketing center on the needs and needs of customers, it gives a trade direction and helps it to direct in a changing environment. Thirdly, it offers the information the commerce needs in order to modify direction or regulate its tactics by providing latest products or changing obtainable products. Fourthly, marketing helps to organize how a business can finest use its resources to please customers and attain profit targets, yet the marketing plan can really be seen as the 'blueprint' for a business's future success. The intention of this paper is to show the rising demands of cosmetic procedures, as well as how the supply is being met in dissimilar ways than just the doctor's office. First I will explain the

Policy dictating mandatory marriage classes before couples get married Article

Policy dictating mandatory marriage classes before couples get married should be introduced - Article Example The cohort, which has been found to exhibit high chances of getting divorced after few years of marriage, is the youth who fall between the ages of 25-29 years old. When these young couples take mandatory marriage classes, the causes of divorce in many marriages can be reduced or eliminated. These mandatory classes will enable the couples to understand obligations of mutual respect, fidelity and support for each other. The couples must know that they must be able to support themselves and their spouse, which also applies to biological and adopted children. The absence of such support may lead to civil actions or criminal charge for non-support of dependents (Ross 1). The couples should also know the importance of establishing themselves financially to maximize their wealth. Therefore, without proper training or counseling before marriage then a couple may not be able to identify this as something they must put in place before marriage. The couple must plan how to succeed in marriage by taking some time to look forward and to survey this field of marriage keenly by taking up mandatory marriage classes and understanding fully what marriage entails (Ross 1). Pre-marriage counseling and classes help in the making of transition from one kind of relationship to another. Through such informative sessions, couples get to understand the major issues that break marriages before engaging to marriage. In the article, Ross mentions that the change in which society and people have gone through, in turn, has led to change in the way that people view the concept of marriage. In a Christian marriage, the couple must undergo a mandatory counseling before marriage, which is conducted by Christian counselors. Ross states that most young people get divorced at a higher rate compared to the rate in which the old generation used to get divorced. It is advisable for young couples and divorcees to be taken

Periodontal Diseases In Children Health And Social Care Essay

Periodontal Diseases In Children Health And Social Care Essay Periodontics is a vast subject by itself and a pediatric dentist is called upon to use the knowledge of the same while examining and planning the treatment of children and young adults. Contrasting forms of periodontal disease affect children and adolescents with varying prevalence, severity, and extent, leading to a diverse prognosis in these age groups. For an early diagnosis and treatment of periodontal conditions in young patients, it is essential to be able to identify and classify the disease correctly at the earliest applying the basic principles along with understanding of etiology and risk factors. A pediatric dentist is in a unique position to identify and distinguish between a seemingly innocuous condition that may be a normal physiological aberration or an early sign of severe destruc ­tive periodontal disease. Although severe destruc ­tive periodontal conditions are uncommon in children, however it is essential that children receive a periodontal screening as part of their regular dental examination. Early diagnosis ensures a high likelihood of a successful therapeutic outcome primarily by reduction of etiologic factors, remedial therapy and development of an effective maintenance protocol. This prevents the recurrence and progression of disease and reduces the incidence of tooth loss. Key Words: adolescents, aggressive, chronic, gingivitis periodontitis. Clinical Relevance: Incorporation of periodontal screening in regular dental examination by pediatric dentist can help in early diagnosis and treatment of periodontal diseases. This would prevent further progression of disease and reduce the frequency of tooth loss. Objective: The reader should understand the importance of periodontal screening, early diagnosis, proper treatment planning and effective maintenance plan to prevent the progression and recurrence of periodontal disease in children and adolescents. Different forms of periodontal disease affect children and adolescents. The diseases affecting the periodontium can be limited to the gingival tissues or can be associated with destruction of the periodontal ligament and alveolar bone. There have been various attempts to classify periodontal diseases. Various classifications have been developed over a period of time.1-4 Based on the World Workshop in Clinical Periodontics in 1989,3 the American Academy of Periodontology proposed a classification of periodontitis as a) adult periodontitis b) early-onset periodontitis c) Periodontitis associated with systemic disease d) necrotizing ulcerative periodontitis and e) refractory periodontitis. Early-onset periodontitis was further classified into a) pre-pubertal periodontitis (localized and generalized) b) juvenile periodontitis c) rapidly progressive periodontitis.(Table 1) Problems associated with the 1989 classification led to 1999 international workshop on the classification of periodontal diseases.4 A new classification system was proposed in 1999 and is presently the most accepted classification system of periodontal diseases. The periodontal diseases are classified as: 1) gingival diseases (plaque induced and non plaque induced) 2) chronic periodontitis (localized and generalized) 3) aggressive periodontitis (localized and generalized 4) periodontitis as a manifestation of systemic disease 5) necrotizing periodontal disease 6) abscesses of periodontium 7) periodontitis associated with endodontic lesions and 8) developmental and acquired deformities and conditions.(Table 1) In the new classification4 adult periodontitis was changed to chronic periodontitis and juvenile periodontitis to aggressive periodontitis. These changes were made to eliminate the age-dependent criteria. Chronic periodontitis was considered less age-dependent description than adult periodontitis. The term early-onset periodontitis was discarded as this form of disease can occur in children, adolescents and adults. Localized aggressive periodontitis replaced the older expression localized juvenile periodontitis or localized early-onset periodontitis. Generalized aggressive periodontitis replaced generalized juvenile periodontitis or generalized early-onset periodontitis.(Table 2) Table 1 1989 Classification Of Periodontal Diseases 1999 Classification Of Periodontal Diseases Gingival diseases (Plaque induced and Non- Plaque Induced) Adult periodontitis Chronic periodontitis (Localized and Generalized) Early-onset periodontitis Aggressive periodontitis (Localized and Generalized). Periodontitis associated with systemic disease Periodontitis as a manifestation of systemic disease Necrotizing ulcerative periodontitis Necrotizing periodontal disease Refractory periodontitis Abscesses of periodontium Periodontitis associated with endodontic lesions Developmental and acquired deformities and conditions The categories of refractory periodontitis and rapidly progressive periodontitis were eliminated because of their heterogeneity. Prepubertal periodontitis was also eliminated as it was not perceived to be a single entity. Many severe periodontitis cases in children are caused due to presence of a systemic disease/s.5,6 (Table 2). Various studies show that gingivitis is prevalent in children and adolescents.7-11 Studies have indicated that attachment loss and supporting bone loss is infrequent in the young but that the incidence increases in adolescents aged 12 to 17 when compared to children aged 5 to 11.11-13 A study conducted on schoolchildren demonstrated that the prevalence and extent of gingivitis increased with age.14 Gingivitis starts in the deciduous dentition and reaching a peak at puberty. Gingivitis reduced during adolescence and followed by a gradual rise throughout adult life.15 The increase in gingivitis levels may be ascribed to the increase in sites at risk, plaque accumulation and inflammatory changes related with tooth eruption and the influence of hormonal factors in puberty. The decline in gingivitis in adolescence may be due to improved social awareness and enhanced oral hygiene.16 Table 2 Changes introduced in 1999 classification in comparison to 1989 Classification Of Periodontal Diseases A category of Gingival diseases (Plaque induced and Non- Plaque Induced) was introduced. Gingival diseases were not represented in 1989 classification. The term Adult periodontitis changed to Chronic periodontitis to eliminate the age-dependent criteria. The term Early-onset periodontitis was replaced by Aggressive Periodontitis to eliminate the age-dependent criteria. Localized juvenile periodontitis or localized early-onset periodontitis was replaced by Localized aggressive periodontitis. Generalized juvenile periodontitis or generalized early-onset periodontitis was replaced by Generalized aggressive periodontitis. Refractory periodontitis and rapidly progressive periodontitis eliminated because of their heterogeneity Prepubertal periodontitis was also eliminated as severe periodontitis cases in children are caused due to presence of a systemic disease/s. Prevalence of periodontitis in the deciduous dentition is difficult to estimate because of scarcity of data. Exfoliation and eruption can lead to undependable information. A low prevalence of marginal bone loss in the deciduous dentition is found in children of European origin in comparison to Asian children.17,18 The prevalence of early onset periodontitis in blacks was 2.1% 19- 2.6%.20 The prevalence rate for whites was 0.17%.20 In a survey in the United States, no significant difference was found in prevalence rates between males and females.20 Black males and white females were approximately three times more likely to have localized early-onset periodontitis than black females and white males respectively.20 Periodontitis in the deciduous dentition is generally clinically insignificant, severe generalized periodontitis may be found in young children with rare systemic diseases, such as Papillon-Lefevre syndrome, cyclic neutropenia, agranulocytosis, Downs syndrome, hypophosphatasia and leukocyte adhesion deficiency.21 Periodontal diseases that can affect young individuals include: 1) dental plaque-induced gingival diseases; 2) chronic periodontitis; 3) aggressive periodontitis; 4) periodontitis as a manifestation of systemic diseases; and 5) necrotizing periodontal diseases.22 However few other diseases like primary herpetic gingivostomatitis may also affect children.(Table 3) Table 3 Periodontal diseases affecting children and adolescents Dental plaque-induced gingival diseases Chronic periodontitis Aggressive periodontitis Periodontitis as a manifestation of systemic diseases Necrotizing periodontal diseases Dental plaque-induced gingival diseases: Definition: Plaque-induced gingivitis is defined as inflammation of the gingiva in the absence of clinical attachment loss.23 Gingivitis associated with dental plaque only: Chronic marginal gingivitis is the most prevalent type of gingival change in childhood. Dental plaque causes inflammation within the gingival tissues which manifests as clinical signs of gingivitis. The gingival diseases associated with plaque, endogenous hormonal fluctuations, drugs, systemic diseases, and malnutrition have numerous universal characteristics. The universal features of these gingival diseases include clinical signs of inflammation, signs and symptoms that are restricted to the gingiva, reversibility of the diseases by removing the etiology, the presence of bacterial plaque to initiate and intensify the severity of the lesion, and a potential role as a precursor to attachment loss.24 (Table 4). Table 4 Universal features of gingival diseases Clinical signs of inflammation Signs and symptoms that are restricted to the gingiva, Reversibility of the diseases by removing the etiology. Presence of bacterial plaque to initiate and intensify the severity of the lesion. A potential role as a precursor to attachment loss The features of plaque-induced gingivitis24 are 1) plaque present at gingival margin; 2) disease begins at the gingival margin; 3) change in gingival color;25,26 4) change in gingival contour;25,26 5) sulcular temperature change;27 6) increased gingival exudate;28 7) bleeding upon probing;25 8) absence of attachment loss; 9) absence of bone loss; 10) histological changes including an inflammatory lesion; 11) reversible with plaque removal. Subgingival levels of Actinomyces sp., Capnocytophaga sp., Leptotrichia sp., and Selenomonas sp. have been found to be increased in experimental gingivitis in children when compared to gingivitis in adults.29 Gingival Diseases Modified by Systemic Factors Associated with the Endocrine System: Hormonal changes affect the periodontal diseases, although bacterial plaque is essential to initiate gingival disease. Puberty-Associated Gingivitis: The rise in steroid hormone levels during puberty in both sexes has a transitory effect on gingivitis.30 There is an increase in gingival inflammation in circumpubertal age individuals of both sexes without a simultaneous increase in plaque levels.31-33 The predilection to develop candid signs of gingival inflammation in the presence of relatively small amounts of plaque during the circumpubertal period differentiates the disease. The incidence and severity of gingivitis in adolescents are also influenced by dental caries, mouth breathing, crowding of the teeth, and tooth eruption.34 Diabetes Mellitus-Associated Gingivitis: Diabetes mellitus-associated gingivitis is found in children with poorly controlled Type 1 diabetes mellitus (insulin-dependent diabetes mellitus or juvenile onset).35,36 The features of gingivitis associated with diabetes mellitus are similar to plaque-induced gingivitis. The level of diabetic management is an significant characteristic than plaque control in the severity of the gingival inflammation.35,36 Gingivitis is frequently associated with tooth eruption. Tooth eruption by itself does not cause gingivitis. The inflammation results from plaque accumulation around erupting teeth. Partially exfoliated, loose deciduous teeth often cause gingivitis due to plaque accumulation. The incidence and severity of gingivitis is more around malpositioned teeth because of their increased tendency to accumulate plaque.37 Periodontitis: Periodontitis irrespective of the specific classification show irreversible loss of connective tissue attachment and apical migration of the junctional epithelium and true pocket formation. The correct diagnosis of the different types of periodontitis is important as the management of periodontitis depends on the correct diagnosis. Incipient and incidental attachment loss A precursor to periodontitis: The terms incipient attachment loss38,39 and incidental attachment loss38,39 have been used to describe loss of support in adolescents. A loss of attachment >1 mm and early alveolar bone loss are prevalent and can affect a sizable proportion of adolescents.40-41 The term incipient is used to describe the initial stage of adult type periodontitis (chronic periodontitis) and a working definition is the presence of loss of attachment >2 mm that is not related to gingival recession.39 The term incidental attachment loss was used by Là ¶e Brown in relation to early-onset (aggressive) periodontitis in adolescents.20 It was suggested that it may correspond to an initial phase of an early-onset juvenile periodontitis or even be incidental to other factors. There is prevalence of attachment loss in adolescents that does not fit the categorization of localized early-onset periodontitis and/or generalized early onset periodontitis.38,42 The category of incidental attachment loss includes individuals who do not fit the criteria for diagnosis of either localized early-onset periodontitis or generalized early-onset periodontitis, but show à ¢Ã¢â‚¬ °Ã‚ ¥4 mm of attachment loss on one or more teeth.39 An epidemiological survey of early-onset periodontitis in 14 to 17 years old adolescents used attachment loss of à ¢Ã¢â‚¬ °Ã‚ ¥3 mm as the cut-off for diagnosis and found that 71% of the incidental early-onset periodontitis group had one site affected and 97% had three or less affected sites.42 The definition of incidental attachment loss can be used to classify individuals with few sites affected by abnormal attachment loss, not associated with local causes such as proximal caries or overhanging restorations. Chronic periodontitis: Definition: Chronic periodontitis is defined as inflammation of the gingiva extending into the adjacent attachment apparatus. The disease is characterized by loss of clinical attachment due to destruction of the periodontal ligament and loss of the adjacent supporting bone.43 Clinical Features:44(Table 5) 1. Chronic periodontitis is the most common form of periodontal disease in adults but can be found in children and adolescents affecting both the primary and secondary dentitions. 2. The amount of periodontal destruction is proportionate to local factors. 3. The composition of microbial plaque is complex and varies to a great extent within and between patients and subgingival calculus is a frequent finding. 4. Chronic periodontitis can be classified on the basis of extent of disease as localized when fewer than 30% of sites are affected, and generalized when this level is exceeded. 5. Chronic periodontitis can also be classified on the basis of the severity of the periodontal destruction. Disease is mild (1 to 2 mm clinical attachment loss), moderate (3 to 4 mm clinical attachment loss), or severe (à ¢Ã¢â‚¬ °Ã‚ ¥5 mm clinical attachment loss) 6. Although chronic periodontitis is initiated by microbial plaque, factors such as systemic risk factors including smoking, stress, diabetes, HIV and host factors influence the pathogenesis and progression of the disease. 7. Progression can only be confirmed by repeated clinical examinations and is considered likely to occur in diseased sites that are left untreated. It usually has slow to moderate rates of progression, but may have periods of rapid progression. Table 5 Clinical Features of Chronic periodontitis Most common form of periodontal disease in adults but children and adolescents also affected. The amount of periodontal destruction is proportionate to local factors. The composition of microbial plaque is complex and variable. Slow to moderate rates of progression with periods of rapid progression. Initiated by plaque but modified by systemic factors such as smoking, stress, diabetes, HIV and host factors. Extent of disease: Localized : 30% of sites involved. Severity of disease: Mild: 1-2mm of clinical attachment loss; Moderate: 3-4 mm of clinical attachment loss; Severe: à ¢Ã¢â‚¬ °Ã‚ ¥5mm of clinical attachment loss. Aggressive periodontitis: Definition: Aggressive periodontitis encompasses distinct types of periodontitis that affect people who, in most cases, otherwise appear healthy. It tends to have a familial aggregation and there is a rapid rate of disease progression. Aggressive periodontitis occurs in localized and generalized forms.45 Aggressive periodontitis can be classified as localized aggressive periodontitis and generalized aggressive periodontitis. Clinical Features:46 (Table 6) Primary features: Non-contributory medical history Rapid attachment loss and bone destruction Familial aggregation of disease Secondary features that are generally present but may not be present in all cases: 1) Amount of microbial deposits inconsistent with the severity of periodontal destruction. 2) Elevated proportions of Actinobacillus actinomycetemcomitans. 3) Phagocytic abnormalities 4) Hyper-responsive macrophage phenotype, including elevated production of PGE2 and interleukin-1ÃŽÂ ² in response to bacterial endotoxins. 5) Progression of attachment loss and bone loss may be self-arresting. The diagnosis may be made on historical, radiographic and clinical data. In addition to primary and secondary features common to all aggressive periodontitis patients, following features can be identified: Localized aggressive periodontitis: 1) Circumpubertal onset; 2) Localized first molar/incisor show interproximal attachment loss on at least two permanent teeth, one of which is a first molar, and involving no more than two teeth other than first molars and incisors; 3) Robust serum antibody response. Generalized aggressive periodontitis: 1) Usually affecting persons under 30 years of age but patients may be older; 2) Generalized interproximal attachment loss affecting at least three permanent teeth, other than first molars and incisors; 3) Pronounced episodic nature of destruction of attachment and alveolar bone. 4) Poor serum antibody response. Chronic and aggressive periodontitis have numerous common clinical features, but the common features are not necessarily alike in both forms of the disease. It is well recognized that both chronic and aggressive periodontitis are complex infections that occur in susceptible hosts and are caused by biofilms.47-49 In addition, host immune response to the biofilms is largely responsible for periodontal destruction.50,51 Successful management of both forms of periodontitis includes reduction of bacterial load.52 The untreated disease invariably leads to loss of tooth. Table 6 Clinical Features of Aggressive periodontitis Primary features: Non-contributory medical history. Rapid attachment loss and bone destruction Familial aggregation of disease. Secondary features: generally present but not universal: Amount of microbial deposits inconsistent with the severity of periodontal destruction. Elevated proportions of Actinobacillus actinomycetemcomitans. Phagocytic abnormalities Hyper-responsive macrophage phenotype, including elevated production of PGE2 and interleukin-1ÃŽÂ ². Progression of attachment loss and bone loss may be self-arresting. Localized aggressive periodontitis: Circumpubertal onset Localized first molar/incisor involvement with interproximal attachment loss on at least two permanent teeth, one of which is a first molar, and involving no more than two teeth other than first molars and incisors. Robust serum antibody response. Generalized aggressive periodontitis: Usually affecting persons under 30 years of age but patients may be older; Generalized interproximal attachment loss affecting at least three permanent teeth, other than first molars and incisors; Pronounced episodic nature of destruction of attachment and alveolar bone. Poor serum antibody response. Similarities and differences in clinical features of chronic and aggressive periodontitis: One of the shared clinical characteristics of chronic and aggressive periodontitis is that affected individuals have no known medical or general health conditions that might contribute to development of their periodontitis. If an individual has a systemic disease that modifies the initiation and clinical course of periodontal infections, the resulting periodontitis should be classified as periodontitis as a manifestation of systemic disease.4 Chronic and aggressive forms of periodontitis have a number of significant clinical differences including: (i) age of onset; (ii) rates of progression; (iii) patterns of destruction; (iv) clinical signs of inflammation and (v) amount of plaque and calculus. The clinical differences are the primary basis for classifying individuals into one of the categories of periodontitis. A diagnosis is a summary statement of the clinicians best estimate regarding the disease or condition detected in a given patient. It is derived from a thorough analysis of all information collected during a review of relevant data from medical à ¢Ã‚ Ã¢â‚¬Å¾ dental histories, the results of diagnostic tests, and findings from a careful clinical examination.53,54 A diagnosis should be a short and concise statement that gives an idea of disease present in a specific patient. It provides a foundation about appropriate treatment approaches. The diagnosis may not precisely be according to the classification system. The exact definition of case is not a main issue in the management of specific patients in clinical practice, as the diagnosis is tailor-made for the individual.55 The clinical distinction between chronic and aggressive periodontitis may be difficult sometimes. This distinction becomes insignificant from a treatment viewpoint as anti-infective therapies are successful for bot h forms of the disease.55 Periodontitis as a manifestation of systemic diseases: Systemic diseases that predispose patients to highly destructive disease of the primary teeth, the diagnosis is periodontitis as a manifestation of systemic disease. This group is classified as:56(Table 7) Associated with hematological disorders: 1) Acquired neutropenia; 2) Leukemias; 3) Others. Associated with genetic disorders: 1) Familial and cyclic neutropenia; 2) Downs syndrome; 3) Leukocyte adherence deficiency syndrome; 4) Papillon-Lefà ¨vre syndrome; 5) Chediak-Higashi syndrome; 6) Histocytosis syndromes; 7) Glycogen storage disease; 8) Infantile genetic agranulocytosis; 9) Cohen syndrome; 10) Ehlers-Danlos syndrome (Types IV and VIII); 11) hypophosphatasia. Not Otherwise specified. Not otherwise specified includes diseases like osteoporosis and estrogen deficiency which have shown to affect periodontium but data regarding their effect requires confirmation. It was emphasized in the consensus report that other systemic conditions may be added after the evidence is available. Defects in neutrophil and immune cell function associated with these diseases may play an important role in increased susceptibility to periodontitis and other infections. Periodontitis as a manifestation of systemic disease in children is a rare disease that frequently begins between the time of eruption of the primary teeth up to the age of 5.57,58 In the localized form, affected sites exhibit rapid bone loss and minimal gingival inflammation.57 Quantitative (agranulocytosis or neutropenia) or qualitative (chemotactic or phagocytic) leukocytic deficiencies show evidence of severe annihilation of the periodontal tissues. Quantitative deficiencies are generally accompanied by destruction of the periodontium of all teeth, whereas qualitative defects are often associated with localized destruction affecting only the periodontium of certain teeth.59 Neutropenia. Patients present with a diverse periodontal manifestations. In the malignant form there is ulceration and necrosis of the marginal gingiva. Bleeding from gums is generally present and attached gingiva may get involved.60 In cyclic, chronic, and familial benign neutropenia the lesions show deep periodontal pockets and extensive, generalized bone loss involving the permanent dentition.61-63 Bone resorption may be seen in the deciduous dentition.64,65 Leukemia. Periodontal lesions have been frequently observed in patients with leukemia, particularly those with an acute form. Generalized gingival enlargement was apparent in 36% of the individuals with acute and in 10% of those with chronic forms.66 Gingival swelling due to infiltration by leukemic cells is a feature of acute monocytic leukemic.67 Gingival bleeding is also a common sign of the disease in both acute and chronic leukemia and may relate to the associated thrombocytopenia.68 Downs Syndrome. Patients with Down syndrome show a generalized early periodontitis, which commences in the deciduous dentition69,70 and continues into the adult dentition. The prevalence and severity of periodontal disease in individuals with Down syndrome is exceedingly high in comparison to their siblings71 or other mentally subnormal persons.70 Several studies have reported increased prevalence and severity of periodontal disease in children of older age groups.69,70 The periodontal destruction is most commonly seen around the incisor and molar teeth.69 The short roots of the mandibular incisors72 and the bone loss in the mandibular anterior region, can lead to the premature loss of these teeth.70 Leukocyte Adhesion Deficiency Syndrome. Defects in numbers of cell-cell adhesion receptors on the neutrophil surface may lead to increased inclination to periodontitis and other infectious diseases in conditions such as leukocyte adhesion deficiency syndrome.73 Young patients with leukocyte adhesion deficiency syndrome present with severe inflammatory periodontal disease.74-76 Leukocyte adhesion deficiency syndrome is a rare autosomal recessive disease. The disease is generally fatal and children with deficiencies in expression of the leukocyte function associated family of adhesins suffer from severe periodontal infections.73 Papillon-Lefà ¨vre Syndrome. Papillon-Lefà ¨vre syndrome is a disease with autosomal recessive inheritance.77 The disease shows signs of diffuse palmar-plantar keratosis with a severe generalized periodontitis, usually seen before puberty with early loss of deciduous and permanent teeth.78-80 A frequency of 1 in 4 million in the general population has been reported.80 25% have been reported to have an increased susceptibility to infection, and 33% have a history of consanguinity.79 Teeth are normally lost in the order of eruption.79 Haim Munk syndrome is also characterized by presence of palmoplantar hyperkeratosis and severe early-onset periodontitis. Genetic studies of the diseases exhibiting palmoplantar keratosis and early-onset periodontitis suggested that the gene defect in Haim Munk syndrome is not genetically linked to the more common forms of palmoplantar keratosis.81 It has been reported that there is a high degree of consanguinity in these families and that they are most likely part of the similar syndrome.82 Chediak-Higashi Syndrome. Chediak-Higashi syndrome is as an autosomal recessive disease associated with severe periodontitis.83,84 The people suffering from this disease are extremely susceptible to bacterial infections Neutrophil chemotaxis and bactericidal functions are abnormal in these patients. Generalized, severe gingivitis, extensive loss of alveolar bone, and premature loss of teeth are features commonly seen.85 Histiocytosis Syndromes. This group of diseases includes may affect infants, children, and adults. The periodontal lesions may clinically resemble necrotizing ulcerative periodontitis lesions. The lesions are punched-out necrotic ulcers with considerable granulation tissue, tissue necrosis, and marked bone loss. Biopsy of the granulation tissue can help in diagnosing the condition.86 Skeletal surveys and chest radiographs will assist in determining the extent of the disease. Glycogen storage disease. This is an autosomal recessive condition associated with defective carbohydrate metabolism. Clinical features include reduced neutrophil numbers, impaired neutrophil function and periodontal disease.87,88 Infantile genetic agranulocytosis. This disease presents with severe neutropenia and has been linked with periodontitis similar to the early-onset form. This is a rare autosomal recessive disorder.89,90 Cohens syndrome. This is also an autosomal recessive condition is characterized frequent and extensive alveolar bone loss.88 The patients also suffer from non-progressive mental and motor retardation, obesity, dysmorphia, and neutropenia.91 Ehlers-Danlos Syndrome. The Ehlers-Danlos syndrome is autosomal dominant disorder. Ehlers-Danlos syndrome is classified into 10 types and is characterized by defective collagen synthesis. Types IV and VIII have an increased susceptibility to periodontitis.92 Type VIII is linked with fragile oral mucosa and blood vessels. It is also associated with severe generalized periodontitis with manifestation of generalized early-onset periodontitis.93 Ehlers-Danlos syndrome type VIII has clinical similarity to the early-onset form, causing premature loss of permanent teeth.94 Hypophosphatasia. Patients present with decreased serum alkaline phosphatase levels. There is severe loss of alveolar bone and premature loss of the deciduous teeth.95-97 Premature loss of deciduous dentition primarily involves anterior region.97 Table 7 Periodontitis as a manifestation of systemic diseases Associated with hematological disorders: Acquired neutropenia; Leukemias; Others. Associated with genetic disorders: Familial and cyclic neutropenia; Downs syndrome; Leukocyte adherence deficiency syndrome; Papillon-Lefà ¨vre syndrome; Chediak-Higashi syndrome; Histocytosis syndromes; Glycogen storage disease; Infantile genetic agranulocytosis; Cohen syndrome; Ehlers-Danlos syndrome (Types IV and VIII); Hypophosphatasia. Not Otherwise specified Necrotizing periodontal diseases: Necrotizing periodontal disease