Isolation of a Urea Degrading Bacteria :: Biology

Isolation of a Urea Degrading Bacteria Introduction Urea was the first organic chemical to be synthetically produced1, previously it was thought that only living creatures could produce organic compounds Urea is naturally produced by the kidneys as waste from the degradation of amino acids. It is because of this that urea is commonly found in soils and is a useful nutrient source for bacteria that are able to utilise it, such as, Helicobacter pylori, Klebsiella pneumonia, all species of Proteus and Micrococcus luteus. These bacteria degrade urea in a reaction catalysed by the urease enzyme, CO(NH2)2 + H2O Ã  CO2 + 2NH3. this process benefits the bacteria in several ways. The bacteria use the ammonia that is produced for respiration, the products also raise the pH of the environment. This promotes the growth of many urea degrading bacteria and inhibits competition from many other bacterial species. M. luteus is commonly found on mammalian skin and it is unusual for a member of the natural human flora to degrade urea. It is believed that M. luteus has this ability as an evolutionary hangover from its life in its ancestral soil habitat. In this environment urea is readily available and the ability to degrade it is a distinct advantage. As the species evolved to live on skin the trait remained, as it had no negative effect on survivability. Micrococcus is a genus within the Micrococcaceae family. With the use of 16s RNA in bacterial taxonomy the genus has recently been revised2. The genus now includes three species, M. luteus, M. lylae and M. antarcticus3. M. luteus is a common yellow gram-positive coccus and roughly 0.5-2.0mm in diameter. Cells appear in pairs, tetrads and irregular clusters but never in chains.4 Method of Isolation * Isolate a variety of organisms from soil and skin. By taking samples from four different sources (three skin and one soil) the chance of urea degrading bacteria being present was increased. * Culture in nutrient broth. This allowed all isolated microbes to grow. * Plate sample onto urea plates. On these plates urea was the only nutrient available, this meant that any bacteria that grew could degrade urea. * Perform urease test. Isolated bacteria are grown in a broth containing phosphate buffer, yeast extract, 2% urea and phenol red. An agar slope of the medium is heavily inoculated and incubated at 370c for at least four hours. If the organism only has low urease activity the phosphate buffer will neutralise the NH3 produced. A red colour indicates that NH3 has been produced and the result is positive5. * Perform Gram stain. This is the most important stain in bacteriology and differentiates between gram positive and gram-negative cell walls, which indicates

Irony in the Scarlet Letter Essay

â€Å"Irony regards every simple truth as a challenge. † When reading a story, the events that have already presented themselves, lead a person to perceive what is going to happen, but when that person encounter an unexpected event, as commonly experienced through irony, it changes what the person perceives is going to happen. The Scarlet Letter exemplifies this use of irony to challenge truth. Hawthorne provides details about a specific character, but then creates an event which stands in contrast to these details. Hawthorne’s uses irony, portrayed through characters’ names, the first scaffold scene, and the Puritan community, to express the truth throughout the novel. In The Scarlet Letter, Hawthorne uses characters’ names to contrast to their actual characteristics. He uses the name Pearl, which means purity, as a nickname for a mischievous character. He portrays Roger Chillingworth as a doctor, while Chillingworth’s main purpose involves causing the deterioration of Arthur Dimmesdale’s health. Arthur Dimmesdale, a saint-like figure to the Puritan Community, indulges in a great sin. Being a minister, his life elucidates hypocrisy. He has committed one of the greatest sins that he condemns in his sermons. Hawthorne uses these evident labels to contrast to character’s true characteristics. The scaffold scenes each reveal a truth through use of irony. The first scaffold scene connotes not only a connection between Hester and Dimmesdale, but also Dimmesdale’s wishes in regard to their sin. At the beginning of the novel, while the reader’s main question involves Pearl’s father, Hawthorne asides other characters by emphasizing Dimmesdale’s questioning of Hester. This emphasis exposes Dimmesdale as the prime suspect to be Pearl’s father. Dimmesdale speaks curiously in third-person about what Pearl’s father should do. He also stresses that Hester should tell who she had an affair with, and that her partner will accept being exposed, as if trying to convince her that he wants to be revealed but is to scared to do so on his own. This event causes irony, as the focus on Dimmesdale and Hester in this scene foreshadows their relations later in the novel. Hawthorne portrays the Puritan Community as a body that lacks the ability to recognize truth, while their ideals involve creating a â€Å"city upon a hill† that has achieved the ultimate truth. When Roger Chillingworth arrives in Boston, the community falsely believes that he has been sent from God to cure Arthur Dimmesdale. When Chillingworth wishes to house with Dimmesdale, few question Chillingworth’s intent. Even as they see Dimmesdale’s worsening condition, few blame it on Roger Chillingworth. The community also fails to recognize Dimmesdale’s attempts to confess his sin. In his sermons, Dimmesdale states that he is â€Å"altogether vile, a viler companion of the vilest† and that he should be â€Å"shriveled up before their eyes by the burning wrath of the Almighty. The community, still believing that he has not committed any serious sin, thinks of him even the higher. The community’s inability to recognize evil characters and sin overshadows their wishes to perceive the ultimate truth. Characters’ names, the first scaffold scene, and the Puritan Community act as a means of expressing truth through Hawthorne’s use of irony. Hawthorne provides evident details on characters, allowing the reader to obtain truth through an ironic event. Hawthorne meets the quote in the beginning by the requirement that irony should regard every simple truth as a challenge.

Model Device Security to Keep Ones Data Safe - 687 Words

Reason for Approach Considering a person’s personal data is one, if not the single most important assets he or she is in possession of, the processes involved in keeping the said data safe is crucial to avoid being a victim of malicious activities. Mobile device security should be at the top of a person’s list as a form of protecting personal data from the outside threats of malicious code infection, unauthorized data access, identity theft, fraud, and a compromise in the confidentiality, integrity and availability of a persons information. Prospectus Organization The remaining facets of this prospectus will consist of two more segments, the problem and the solution. Each segment will be broken down and divided into separate topics in order to convey the material in an organized fashion. The first segment will consist of the Problem Statement, it will encompass the background information, causes, business impacts, a cost and risk analysis, any assumptions, and what limitations, if any the problem faces. A list of technical terms is provided for reference as well. The second segment will consist of the Solution technology provides and will provide what guidelines should be followed in order to solve the said problem. It will encompass the areas of business drivers, justification, what the effects are for choosing not to implement the solution, and a detailed description of the preventative solution. Problem Statement Mobile devices typically lack the security featuresShow MoreRelatedPrivacy And The Right Of Privacy Essay1057 Words   |  5 Pagesto access to information, individual’s privacy. There is free flow of data and information on web which provides a great threat to the right of privacy. So sharing personal information with web at any stake is not what one can consider as wise decision. Privacy is individuals condition of life which is kept safe from rest of the world or Privacy is the right to be left alone. Carl Landwehr in his article â€Å"Privacy and Security† states that, â€Å"privacy is preserved when in- formation remains within aRead MoreThe Cloud Of Cloud Computing1360 Words   |  6 Pagesand Technology), Cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications, and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction. Cloud computing refers to the practice of utilizing a network of remote servers hosted on the Internet to store, manage, and process data, as opposed to the traditional wayRead MoreThe Cloud Of Cloud Technology1343 Words   |  6 Pagesaccess to data anywhere, anytime, at any online terminal, are known as cloud users, as the avenue for experiencing these luxuries is cloud computing. This can be achieved by using free services such as Drive offered by Google, or iCloud from Apple, or via OneDrive from Microsoft. Much like a music library on a personal computer cloud computing stores data, all the while making it accessible everywhere. Instead of having to be at a physical machine to access the data, one can place this data into a cloudRead MoreAnalysis Of The Cyber Security Industry Essay1514 Words   |  7 PagesAnalysis of the Cyber Security Industry Cyber security is a fast-growing industry. With more and more persons using connected devices as part of their daily lives, there is an increasing need for security. Not only are individuals in need of cyber security solutions but also corporations and governments are acutely aware of the dangers of hacking. As a result of the need, the cyber security industry is expected to reach $170 billion by 2020 (Morgan 2015). To understand this industry, it is importantRead MoreTechnology And Its Impact On Technology2152 Words   |  9 PagesIntroduction In today’s world everything relies on technology. Technology has aided in making day to day life simpler, as well as keep us all connected. Organizations today continue to grow using all the newest technological advancements. The use of technology can help mold the foundation for which a company is able to grow from, but it can also be the very cause of the same company’s demise. It is for that reason, that an organization should take appropriate actions to protect its Information SystemsRead MoreTechnology And Its Impact On Technology2186 Words   |  9 PagesIntroduction In today’s world, everything relies on technology. Technology has aided in making day to day life simpler, as well as keep us all connected. Organizations today continue to grow using the newest technological advancements. The use of technology can help mold the foundation for which a company is able to grow, but it can also be the very cause of the same company’s demise. It is for that reason that an organization should take appropriate actions to protect its Information Systems (IS)Read MoreThe Technology Of The Automotive System1966 Words   |  8 Pagesapplication such as devices and dashboard displays would then share information with vehicles that are connected, with this the vehicles will also be able to exchange data to roadside units that are connected to the network this would include streetlights, traffic lights, trains that cross road etc. All of which will be connected to the Internet of things (IOT). Over the decade’s road vehicles have been equipped with the one-two-way electronic communications systems these include devices such as transmittersRead MoreSecurity Issure Due to Smart Phones3394 Words   |  14 Pagesbecome a necessity in the modern era as their use has rapidly increased. They have advanced to a level where we can use them to access data from anywhere at any time. Many businesses and users use smart phones to communicate, carry out business deals and organize their work and private life. The advancement in this technology has also increased concern about the security related issues. The increase in technology is causing profound changes in the organization and it has therefore become the source ofRead MoreTaking a Look at Big Data1826 Words   |  7 Pages What is big data? Big data is structured and unstructured data that is difficult to process using traditional database and software techniques. This is because of its extensive size. Big data ranges â₠¬Å"from a few dozen terabytes to many petabytes of data in a single data set – and are constantly growing† (Hopp). A terabyte is equal to 1,024 gigabytes, while a petabyte is equal to 1,024 terabytes. A regular iPhone has 16 gigabytes, so a terabyte contains the same amount of digital storage as 64 iPhonesRead MoreNetwork Engineering : A Network Engineer2546 Words   |  11 Pagesnetwork is as reliable as it can be. When becoming a network engineer one must consider that it is a high-profile position. Along with analyzing, installing, troubleshooting, maintaining and designing networks, a network engineer must be keep the network safe from data theft and assure the client that their network is secure. A network engineer must monitor the network constantly and any network equipment used. He will have to configure routers and setup firewalls, along with connecting offices with

Juveniles and The Death Penalty Essay - 1604 Words

Juveniles and The Death Penalty *No Works Cited One of the most controversial issues in the rights of juveniles today is addressed in the question, Should the death penalty be applied to juveniles? For nearly a century the juvenile courts have existed to shield the majority of juvenile offenders from the full weight of criminal law and to protect their entitled special rights and immunities. In the case of kent vs. United states in 1996, Justice Fortas stated some of these special rights which include; Protection from publicity, confinement only to twenty-one years of age, no confinement with adults, and protection against the consequences of adult conviction such as the loss of civil rights, the use of adjudication against him†¦show more content†¦The constitutionality of the juvenile death penalty reached a settlement in 1988 in the case of Thompson v. Oklahoma when four Supreme Court Justices reached the conclusion that: persons under sixteen years of age cannot be sentenced to death (Thompson v. Oklahoma, 1988). Justi ce Stevens, Brennan, Marshall, and Blackmun considered these important issues as they were deliberating on the case: (1) Does a national consensus forbidding executions of juveniles exist?; (2) the extent to which the laws of other Western European nations prohibit or permit the execution of juveniles, and the opinions of respected professional organizations; (3) the degree to which the juveniles should be held responsible for their actions; (4) Whether the execution of juveniles contributed to the retributive or deterrent goals of punishment; and (5) Whether the small number of juveniles executed represents the waton and freakish application of the death penalty as condemned by Justice Stewart in Furman V. Georgia (Furman v. Georgia, 1972: 2763, Thompson v. Oklahoma, 1988: 487 U.S. 815). Following the decision, thirty eight states and the federal government created statutes authorizing the death penalty for certain forms of murder and other capital offenses ( Streib 1 of 2). Thomp son v. Oklahoma held that no state within the minimum age line within its death penalty can go below the age of sixteen. Presently, fifteen states have chosen the min age of eighteen, four states have chosenShow MoreRelatedThe Death Penalty For Juveniles946 Words   |  4 Pages The death penalty for minors differs greatly from the death penalty for adult. The law that minor could be put on death row was decided to rule against the eighth amendment. The eighth amendment prohibits the act of â€Å"cruel and unusual punishment† which putting minors on death row breaks. On March 4, 2005 the law that minors could not be put on death row for their actions was set into place. The new laws say, â€Å"They cannot punish a minor by death penalty and they cannot punish someone for a crimeRead MoreThe Death Penalty For Juveniles1169 Words   |  5 PagesResearch Paper: Death Penalty for Juveniles Capital punishment for juveniles is one of the most controversial topics to ever be explored in society and in the criminal justice system. The death penalty is a rare occurrence amongst juveniles since it is so arguable as to whether they should be tried as adults. Lynn Cothern from the Juvenile Justice Resource Center suggests that â€Å"the primary purpose of the juvenile justice system is to hold juvenile offenders accountable for delinquent acts whileRead MoreThe Death Penalty and Juveniles2945 Words   |  12 PagesThe Death Penalty and Juveniles CJA433 The Death Penalty and Juveniles In the United States, the death penalty is an issue because of its controversies. Some people see it as a punishment. Some people say â€Å"an eye for an eye,† and believe this is the way to stop youth offenders from following the path of crimes such as murders. This does not only pertain to the youth but also to the adults. Others believe the death penalty to be cruel and unusual punishment even for the adults. In the law, juvenilesRead MoreJuvenile and the Death Penalty1817 Words   |  8 PagesENG101 Dr. Ankerberg March 6, 2007 Essay #2 Juveniles and the Death Penalty Today, minors are using their age as a shield against capital punishment. Adolescents believe that since they are not eighteen they will not be punished for the crimes they commit. The death penalty is appropriate for juveniles in certain circumstances, such as murder and brutal crimes that are considered capital offenses. The rate at which the death penalty is carried out, as well as inconstancies in sentencingRead MoreJuvenile Death Penalty Essay1353 Words   |  6 PagesJuvenile Death Penalty One of the most controversial questions in the juvenile justice system today is, Should the death penalty be applied to juveniles?†. A lot of people think that the death penalty for juveniles is cruel and unusual punishment and should only be used for adults. The crimes that juveniles commit are as dangerous and as violent as adult crimes. People argue that the adolescent brain does not mature until the late teens or early twenties, and that death penalty should not be theRead MoreEssay on Juvenile Death Penalty1824 Words   |  8 PagesDeath at 18? One of the most controversial issues in the country today is addressed in the question, Should the death penalty be applied to juveniles, and if so how young is too young? The death penalty has been in the United States for many, many years, and the United States still has yet to figure out how to solve all its dilemmas and whether or not the penalty is right or wrong. Debates about the use of the death penalty for juveniles have grown more intense because of the recent demand forRead MoreEssay on Juvenile Death Penalty3656 Words   |  15 Pagesunconstitutional to sentence a juvenile under the age of 18 to the death penalty. Before, Roper v. Simmons, in Thompson v. Oklahoma it had been decided that only those under the age of 16 could not be considered for the death penalty. Were these decisions correct? If an adolescent can commit such a heinous crime as homicide should they not also be able then to handle the consequences? The other side of the argument against the juvenile dea th penalty states that juveniles do not have the same reasoningRead MoreEssay on No Death Penalty for Juveniles2164 Words   |  9 Pagesthat the death penalty is, â€Å"the punishment of execution, administered to someone legally convicted of a capital crime.† Capital crimes array from murder to drug trafficking. In the United States the death penalty is mostly administered towards first-degree murder, with non-murder crimes varying by state. â€Å"Currently, only 58 nations actively practice the death penalty, with 96 countries having abolished it, the remainder have not used the death penalty for 10 years or only allow for death in exceptionalRead MoreThe Juvenile Death Penalty: A Case For It1583 Words   |  7 Pagesschool with a 3.5 accumulative grade point average, pulling a 4.0 grade point average from the time of my expulsion on. I walked across the same stage as the athletes, the band geeks, the book worms and the teacher’s pets. An expelled student with a juvenile record walked across the same stage as the full ride scholarship earners and the Valedictorians. Today, I am attending the University of Northern Colorado, double majoring in Criminal Justice and Psychology. I received a 3.4 grade point average myRead More Death Penalty Applied to Juveniles Essay1684 Words   |  7 PagesDeath Penalty Applied to Juveniles   Ã‚  Ã‚  Ã‚  Ã‚  In 1643 a sixteen year old boy was put to death for sodomizing a cow. Three hundred and fifty years later, sixteen states have legitimized the execution of juveniles. Four of those twelve states have lowered the legal age of execution to twelve. For whatever reasons the death penalty has been supported by the public since this countrys existence. In this day and age of increasing violence, both juvenile and adult, it is time to re-examine the use

Hamlets Existential Crisis - 1429 Words

When looking at Hamlet, one could say that William Shakespeare put the play together as a very cathartic tragedy. The emotional result of dealing with so many deaths brings on a plethora of emotions which are not usually felt in a typical play. Hamlet begins not with the normal prosperity and good fortune as do most tragedies, but with a more stifling and depressing sort of mood (Tekany 115). However, something else could be said about this play as well. The play centers on Hamlet and his existential characteristics, such as angst, isolation and his confrontations with nothingness. The exhibition of these characteristics proves Hamlet to be an existential character. The idea of Hamlets fathers (King Hamlet of Denmark) passing is what begins the cycle of existential thoughts and feelings within him. From the conflict raging inside Hamlet, stemming from the loss of his father, blooms the beginnings of a bigger, overall existential conflict that soon leads to his cathartic downfall. He visits places filled with nothingness and abhorrence with a sense of frailty and pulsating frustration. Hamlet’s existential crisis begins with the death of his father and the remarrying of his mother. At this point, for Hamlet, the questions start pouring in; â€Å"to be or not to be† (Hamlet 3.1.57), and so on. From questioning his existence and fighting with himself about the purpose of his life begins to show the beginnings of the existential crisis that is soon to consume him. Also, thisShow MoreRelatedHamlet Liberation In Death Analysis1098 Words   |  5 PagesLiberation in Death: Hamlet’s Existential Struggle in Hamlet What is the meaning of life? Who am I? What is my purpose? These are open existential inquiries that both modern and ancient philosophers have yet to answer certainly. Unquestionably, the philosophy of existentialism is an interesting theory and psychological phenomenon. Existentialism is a philosophy promulgated in the 20th century that holds that every person exists first and his nature, or essence, comes about later through the mannerRead MoreMeaning Of Existentialism In Hamlet1446 Words   |  6 Pageswhich he becomes aware of his alienation from the human condition, thus exemplifying the existentialist essence of the play write. The central concern of Hamlet is also the question of all man, †What a piece of work is a man!’’(2.2.296), and the existential quest for being is equally central to hamlet. He is the man obsessed with the pursuit of being, for him the question is â€Å"To be or not to be†(3.1. 56). His being is confounded by the purpose of his life, which he gradually realizes is to avenge hisRead MoreHamlet Interpersonal Conflict Essay1252 Words   |  6 Pagessignifying the loss of his father, and the audience got its first glimpse on the depth of Hamlets depression. The imagery of Hamlet continuing to wear the black clothes shows how Hamlet had a lot of admiration for his Father and his loss caused him to go into a great depression. Even after his introduction, Hamlet’s depression gets further revealed when Claudius notes that â€Å"the clouds still hang†(I, ii,66) around Hamlets personality. Hamlet even replies that his inner sorrow is so great that hi s dourRead MoreBipolar Disorder in Hamlet896 Words   |  4 Pagesthe play, Hamlet’s father had been recently murdered by his uncle, whom his mother has also recently married. These are the main reasons why Hamlet has also shown serious signs of major depressive disorder as well, which can often go hand-in-hand with bipolar disorder. Since there are several types of bipolar disorder, depending on the type of symptoms the patient is experiencing, the symptoms may vary. However, some symptoms of bipolar disorder are shared throughout all types. Hamlet’s symptomsRead MoreHamlet, By William Shakespeare1184 Words   |  5 PagesAlexander W.). He attempts convincing everyone around him that he is in love with her, just so he can get closer to Claudius. Whether Ophelia herself was actually mad or not, this led to her death because Gertrude either killed her while believing Hamlet’s lie or she killed herself because of his cruel methods. When Hamlet is on the ship, he also successfully deceives the king of England into executing Rosencrantz and Guildenstern. This shows not only his cleverness, but just how ruthless he is wellRead MoreThe Love Song of J.Alfred Prufrock Essay4201 Words   |  17 Pagesis Prufrock? What does he unknowingly reveal? Hamlet, to whom Prufrock feels inferior, contemplates things like murder and the secrets of the universe. Prufrock, though equally fraught with existential malaise, is more pathetic, as his contemplative nature lacks any of the dramatic interest of Hamlet’s. The simple act of eating a peach is something that consumes his conscience in bitter inner debate. In the end, too, unlike Prufrock, Hamlet actually did something. Though it took the prospect of

Intellectual Property of Lasik Surgery Free Essays

The procedure of Lasik Surgery is an innovative technique that could provide life lasting changes to individuals afflicted with ophthalmic disorders.   Patents continue to develop and new and improved technologies released.  Ã‚   In considering and evaluating the intellectual property of Lasik surgery, it is important to look at the procedure from a variety of angles so as to better understand the complexity of the process. We will write a custom essay sample on Intellectual Property of Lasik Surgery or any similar topic only for you Order Now Lasik surgery is a privately owned business.   Additionally, private as well as public owned corporations have the ability to research and investigate new procedures in Lasik Surgery.   As a procedure is released, individual practitioners are eligible to practice the business if they have the correct licensures.   The procedure of Lasik Surgery is FDA approved, and all patents to further develop and improve upon Lasik surgery procedures must also be approved by the FDA.   Furthermore, while the Lasik Surgery business is privately owned, it is still subject to the legal regulations of the Federal trade commission. There are countless patents involving Lasik Surgery and its technological improvements.   As of Fall 2003, VISK and Summitt were the only two companies authorized by the FDA to hold Lasik Surgery patents.   Recently, the companies of Summitt Technology and VISX were charged with price fixing and violating the standards of the Federal Trade Commission.  Ã‚   As a result of the price scandals reveled by the FTC, patents became released to the patent pool, but were still subject to veto power by VISK and Summitt (Perry, 2003).   As a result of the release to the public pool, the competing patents would no longer be held by a single entity (FTC.gov, 1998). There are several individual physician that can also hold ophthalmic patents.   For example, Dr. Richard Lindstrom, Founding Manager of Minnesota Eye Consultants, holds twenty-eight patents involving ophthalmology and improvements in laser procedures (Minnesota Eye Consultants, 2006). At current time, there is no approval for the development of generic Lasik procedure products.   This is due to the sensitive nature of the industry, as a generic procedure may cause harm to the patient and may not comply with all FDA regulated standards. One recently released patent related to Lasik Surgery was patent number 6,951,556.   This patent was issued to an individual by the name of Robert L. Epstein, MD.   Dr. Epstein is the director of 800-I-CAN-SEE, the Mercy Center for Corrective Eye Surgery in McHenry, Illinois. The release of the patent provides a new way for physicians to correct off-center laser ablations that periodically occur as a result of the Lasik procedure.   As a result of the patent, correction of off-center laser ablations can now be incorporated into newer laser correction machines (Epstein, 2005). The Lasik Surgery industry is an evolving and constantly improving technology.   It is important to understand the intellectual property laws and patent regulations so as to determine what the future holds for the industry.   It will be interesting to see what changes result from the increased privatization of the Lasik Surgery process. References Epsetin, Robert (2005).   New Patent for Correcting Centering of Lasik Vision  Ã‚  Ã‚   Treatments.   Retrieved October 20,  Ã‚   2006 from http://eye.taragana.net/archive/new-patent-for-correcting-centering-of-lasik-vision-treatments/ FTC.gov (1998).   FTC Charges Two Firms that Control that Market for Laser Eye Surgery with Price-Fixing Conspiracy.   Retrived October 20, 2006 from http://www.ftc.gov/opa/1998/03/eye.htm Minnesota Eye Consultants (2006).   Laser Vision Correction.   Retrieved October 20, 2006 from http://www.seewithlasik.com/docs/lasik-minneapolis.html. Perry, Martin (2003).   Laser Eye Surgery Patent Pool.   Retrieved October 20, 2006 from http://72.14.253.104/search?q=cache:qadHX0VPSOQJ:econweb.rutgers.edu/perry/389/lectures/PPTB389.F03.PatentPools.doc+number+of+lasik+surgery+patentshl=engl=usct=clnkcd=11. How to cite Intellectual Property of Lasik Surgery, Essay examples

Housing Market in the UK

Question: The British housing market has "deep, deep" problems, according to the Governor of the Bank of England. In an interview with Sky's Murnaghan show, Mark Carney warned that rising house prices represented the biggest current risk to the economy.He added that the number of large mortgages being approved to house buyers was on the rise and that the UK was in need of new house building. Mr Carney said: "The issue around the housing market in the UK is there are not sufficient (numbers of) houses (being) built." One of the biggest issues of the UK economy if the constant changes in the housing market. Using the above article passage and any other you may research, write a report analysing what are, the main reasons for those changes. Is the microeconomic or the macroeconomic environment the one that affects prices most? Are the property market challenges linked more to supply or demand?, or maybe we have to consider macroeconomic issues like the exchanges rates, growth and unemployment? Answer: Introduction: The key role in the economy is played by the housing market. It exercises its influence on the economy through output growth, stability in the financial market and the monetary policy of transmission mechanism. The decision of the household to purchase a house is relevant to the economy as it involves a large part of the households income as well as the expenditure. The UK housing market is characterized as a volatile market. For the last few decades, the UK housing market has witnessed two major booms and busts. (Ons.gov.uk, 2015) The governor of the Bank of England, Mark Carney in an interview with Skys Murnaghan show, has showed concern about the property boom which can pose a big risk to the Britains economic recovery. The house prices rose at the fastest rate in the more than six years and have ascended to 8.9% on a yearly basis. This rise in house price can be accounted for the shortage of new homes. The deep structural problem associated with the UK housing market can be tackled buy two factors. First, the bank must ensure enough reserves to resist the risks of bad loans associated with the downturn of the housing market. Second, there should be a check on the lending procedure and ensure that mortgages be sanctioned to those individuals who could afford them. (E-Residentials | Online Estate Agent, 2014) Reasons for changes in the housing market: The constant changes in the housing market are owing to several factors. These factors influence the housing market and alter the house price. Some of the reasons behind the changes in the housing market of the UK are: (Pettinger, 2011) Economic growth- It is regarded that the demand for house is income elastic as house is considered to be a luxuries good. Now as demand for house is dependent on the income, so as income decreases, people cannot buy houses and they are unable to make their mortgage payments ending up their houses to be taken in possession by the banks. The GDP growth of the UK in the third quarter of 2014 was 0.7% which made the nation the fastest growing G7 economy in spite of the economic slowdown. (Allen, 2014) This has resulted in the rise in income of the citizens which furthered raised the demand for house which ultimately hiked the house price. (Positive Money, 2013) Unemployment- The level of unemployment is associated with the economic growth in the UK. Since the UK experienced a GDP growth, the unemployment rate fell to 6% which is recorded to be the lowest. The employment rate rose to 73% which means that people have been employed. This drive in employment caused the incomes to rise resulting in an increased demand for house and this excess demand for houses increased the prices. (Monaghan and Inman, 2014) Interest rates- The year 2014 was marked with stable interest rate at 0.5% which enabled the purchase of new houses. The interest rate affects the monthly mortgage payment cost. If the interest rate is high, this would increase the mortgage payment. As a result, the demand for houses will fall. But since the interest rate did not rise in 2014 in the UK, people were willing to purchase houses, soaring up the demand for houses and thereby raising the price of the houses. (BBC News, 2014) Consumer confidence- The consumer confidence is very important for the sale and purchase of the house or taking the risk to mortgage them. In this regard the expectation towards the housing market is relevant. If people foresee that the price of the houses is rising then they will be willing to purchase them which will raise demand. Mortgage availability- According to the Bank of Englands latest Credit Conditions report, lenders in 2014 were willing to extend a rise in the availability of mortgages. The rise in the availability of mortgages with low deposits eased up the procedure for getting mortgage. This raised the demand for buying houses. (The Guardian, 2014) Supply- Mark Carney stated that the problem of shortage of new house could not be solved by the Central Bank. At 123,000 units per year, the rate of house building was well below the 200,000 which is considered by many economists as the minimum scale. Thus, the shortage of supply of houses led to a situation of excess demand which raised the price of the houses. (Inman, 2015) Microeconomics and macroeconomics factors affecting price: The basic determinants that affect the housing prices is the demand and supply of the houses but they are influenced by the microeconomics and macroeconomics factor. It is startling to see that how people are engaging themselves to investment in the real estate sector. It is also necessary to understand the impact of the macro and micro variables that can affect the decision of the purchase of the house. Some of the macro and micro factors that affect the housing prices are discussed below. (Tan, 2015) (Ft.com, 2015) Macroeconomic factors: Population growth considering foreign workforce and migration- The population growth rate in the UK in 2014 was recorded to be 0.54%. A population growth imposed pressure on the housing market. (Indexmundi.com, 2015) The increase in the new citizen and the shortage of houses resulted in a situation of excess demand, raising the price of the house. The Malthusian theory states that population of human grows at a geometric rate. The four stages of demographic transition also tell us a progressive change in phase from high birth rate high death rate to a phase of low birth and death rates. All these imply that even if there is little population growth, there is still not sufficient accommodation to absorb the new entrant. (Galor and Weil, 2000) Employment and wage growth- As there is an increase in the employment rate, there is also a growth in wage. This increases the income in the hands of the people which enhances the credit liability confidence. People will now take up loans or mortgage to purchase house. Thus, the demand rises and the property price rises. Construction costs- The conceptualization of several government policies extends to regulate the building projects and this make the developers more conscious about the building projects by delaying it. This causes a shortage in the supply of the house raising the price. The increase in construction cost and the price of raw materials may also raise the price of the house Financing properties- The smooth and easy access to mortgage and loan facilities by the people gear them up to buy properties. This raises the demand for houses and as a result price rises. This can be countered by restricting credit availabilities by government policies which could drive the price down. Land scarcity- The ever increasing population posed a threat to the availability of land. There evolved the issue of scarce land, which resulted in excess demand of land for accommodation. This created an excess demand for house and thus price rises. (McGrath, 2014) Exchange rate- the changes in the exchange rate influence people on their buying decision of property. The depreciation of exchange rate drives up the price of property in the foreign country and the opposite happens when appreciation takes place. Microeconomic factors: Location and amenities- An individual who is willing to buy a house would definitely consider the locality with amenities associated with the property like accessibility of expressways, shopping malls, markets, parks, food centre etc. All these location attractiveness changes the value or price of the house. Government plans- Government may chalk out plans for a particular location by advancement in infrastructures. This future plan associated with the location can drive up the property price. Building style- The architectural design of a house may affect its price. If the design of the house is unique and cannot be replicated then the value of the house increases. Taste and preferences- The taste and preferences of an individual os acquired by the level of education. This reflects the different types of choices of house depending upon the level of education received. It is the macroeconomic factors that increase the price sensitivity of the houses. The major issues like unemployment rate, population growth rate, and construction cost etc. affect the housing prices instantaneously. But the microeconomic factors are equally relevant to determine the prices of the housing sector. Property market challenges: The challenges faced by every market are associated with the demand and supply conditions. It is evident from the rising prices of the houses that there prevailed disequilibrium in the demand and supply conditions in the UK. The supply of houses was unable to keep pace with the demand for houses. A situation of excess demand crept up, driving the price of the house up. Thus there is an urgent need to expand the supply of housing. When the demand and supply conditions are regarded as the important factors to determine equilibrium in the housing market, it is equally important to focus on the macroeconomic and microeconomic factors that influence the demand and supply side of the housing industry. The macroeconomic and microeconomic factors like the economic growth, population growth, locations and amenities, government plans etc. all these affect the pricing of the houses. Thus, the challenges in the property market are influenced by the macroeconomic environment as well as the demand and supply side. (Economicsonline.co.uk, 2015) (UK Parliament, 2015) Conclusion: Our report is based on the analysis of the concern of the governor of Bank of England, Mark Carney. The rise in the price of the house is inevitable as far as there is a shortage in the supply of houses. This problem of supply shortage needs to be tackled by the providing subsidies to the private house builders, relaxing house building regulations, providing grants and tax concession to builders who build house on certain areas etc. The need to regulate demand is also relevant to suppress the rise in price. 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