Personal statement to apply to universities Essay

Take Time to Wrap Up the School Year in 3 Steps

Set aside Effort to Wrap Up the School Year in 3 Steps When any school year slows down to a nearby, the exact opposite thing any instructor needs to consider is the following school year. Lamentably, the finish of the school year is additionally when an instructor has the most data about how to make the progress into September much smoother. Anyway, how to utilize this data? Instructors should attempt to invest energy - a couple of hours on every one of the accompanying classes toward the finish of this current year since time put nowâ could yield positive outcomes in the following school year. #1. Invest Energy Cleaning Up and Cleaning Out Before an educator leaves for the school year, the person could snap a photo of the room (perhaps from a few edges) and post these photos on the notice load up for the custodial staff to see. This will ensure the room is sorted out and prepared for understudies in the following school year.â Educators should box supplies and obviously names them so materials can be found rapidly.( NOTE: Painters tape is more effectively expelled than different sorts of concealing tape if furniture is stamped.) In wiping out, educators and staff ought to follow the accompanying rules: Expel the materials that were not utilized this year.Go through records and cleanse what is obsolete. Removeâ items that are unimportant Remove spared things that â€Å"might†¦Ã¢â‚¬  be utilized. Try not to keep those unused things acquired from instructors who came before...and don't feel regretful. #2. Invest Energy Reflecting on Goals: On the off chance that the instructor assessment program (EX: Danielson or Marzano) has a self-reflection prerequisite, at that point quite a bit of this exertion is as of now done. An instructors self-reflection can support the person in question to concentrate on what regions may require consideration in the following school year. On the off chance that there is no self-reflection, educators can in any case audit the accompanying inquiries so as to draft an objective or set of objectives for the coming school year: How might I enhance composing this equivalent or a comparable objective for next year?What new ways would I be able to use to quantify this equivalent objective or another goal?Can I utilize various gatherings to make development more visible?What could be the following stage in the wake of meeting this goal?What single factor was generally useful with my objective this past year?What single factor caused issues with meeting my objective this past year?How would i be able to improve my utilization of time in meeting a future objective? #3. Invest Energy in Preparing Special Events Instructors can do a little pre-arranging throughout the late spring to reduce the pressure of arranging extraordinary occasions (field excursions or visitor visits face to face or essentially) for understudies during the school year. Reaching areas or visitor speakers ahead of time of the school year will help give the school office faculty an opportunity to anticipate strategic help (transportation, authorization slips, substitutes, video talks) well ahead of time, particularly when the school schedule is being made. Exceptional occasions are what understudies recollect about the school year, and a bit of arranging ahead of time can put forth the attempt for all partners advantageous. In putting in a couple of hours toward the finish of the school year on every one of the three proposals above, educators can use their encounters of this past school year so as to make positive strides towards making the following school year experience far superior.

What To Read After Watching The OA

What To Read After Watching The OA When I  love a television  series or  movie, I want to read about it. Not gossip about the stars, but about the writers and subject of the show. The OA is driving me crazy with curiosity. The book I’m most anxious to read  hasn’t been  written yet  because it would be an  annotated transcript of the dialog between Zal Batmanglij and Brit Marling as they created  The OA.  A story about writing a story about storytelling. That’s deliciously recursive. The OA  models religion  â€" I don’t know if intentional or not. That ratcheted up my fascination too. I’m an atheist  â€" so I wondered if Batmanglij and Marling are believers? Or are they just  messing with believers heads? Like any good novelist, their 8-part video novel  has an ambiguous ending to go with its ambiguous intentions. That’s very frustrating  â€" but in a good way. The OA  is about  NDEs â€" Near Death Experiences. The essence of religion hinges on  faith in an afterlife. That makes their story a religious story. Since their story is also about storytelling and believing, it also makes it about faith. Even more, I think The OA is a study in fiction and storytelling. Anyone writing a novel today should analyze original series on television. They are the cutting edge of storytelling evolution. The OA is fascinating because it explores fiction and belief. The main character, Prairie Johnson,  mysteriously calls herself The OA. She could be a stand-in for Jesus. I won’t point out all the comparisons because of spoilers, but depending on how you count them, she might have twelve followers.  The OA  has a story about resurrection  she wants other people to believe.  She offers  life after death for belief.  And there are  angels in this story  â€" maybe. Other dimensions  substitute for heaven, but I missed any  suggestion of God. This story works to avoid  specific religions, or  possibly it theorizes on a secular afterlife. If Batmanglij and Marling just told a fun narrative  based on clichéd fantasy tropes I wouldn’t be writing this essay.  I can’t say  B M are promoting  belief in NDEs, but I  know many viewers want to believe in such experiences. I wish I could find a scientific study on belief and fiction. If To Kill a Mockingbird can spread acceptance of racial diversity, can a fantasy about NDEs spread belief in the afterlife? Since Raymond Moody’s Life After Life in 1975, we’ve been seeing more books every year on NDEs. Goodreads has a shelf for 309 books about NDE. Some popular titles are Heaven is for Real by Todd Burpo, Proof of Heaven by Eben Alexander and 90 Minutes in Heaven. I’ve read some of these books and they can be convincing. Because  I’m an atheist some of my Christian friends have given me NDE books to prove they are right about  religion. And I highly recommend  everyone try a couple. They are powerful stories,  even dangerous. When you read them you’ll be queuing up The Twilight Zone theme music, though.  Afterward, I highly recommend reading a pile of Skeptical Inquirers as an antidote, or Hallucinations by Oliver Sacks. The power of our minds to fool ourselves has yet to be  fully measured. Have  Batmanglij and Marling merely borrowed the biggest selling point of religion to capture a TV audience? Do they believe in NDEs themselves, and want to promote the belief? Or did they pick NDEs for yet another fantasy series because wizards, werewolves, zombies, and vampires are getting old and tired? I have to believe writers are getting savvier about seducing readers. Just look at some recent writing books that try to take reader psychology into account Wired for Story and Story Genius by Lisa Cron, The Storytelling Animal by Jonathan Gottschall, and The Spirituality of Imperfection by Ernest Kurtz and Katherine Ketcham. Why cant I find books about scientific studies on the impact of fiction on believing? If religion is fiction, it has converted billions into believing. That implies novels can have tremendous powers. The art of storytelling goes way beyond creating bestsellers and blockbusters. When you watch The OA, pay attention to how many stories are told within its eight episodes,  to how many people,  and how  are they  believed. And remember this, the bad guy of this story is a scientist. The symbolism: science holds  faith hostage. As you watch, count the number of people trapped by their fates, and how often faith is offered as a means of escape. We are storytelling animals. But that goes way beyond entertainment. Our conscious minds constantly make up stories about every bit of input our mind notices, but that often causes pitfalls. One of my favorites is called “the narrative fallacy,” which I first read about in The Black Swan by Nassim Nicholas Taleb. Essentially it means we make up a story to explain every experience, no matter how small. Those stories influence  our actions. But when the original assumption is wrong, leading to a misdirecting story, we end up acting wrong. When you see episode eight, youll wonder where the narrative fallacy in The OA lies. What makes The OA so appealing to me is we don’t know if Prairie Johnson is a reliable narrator or not. Her followers don’t know if the life-changing decisions they are making based on her story are correct. Let me give you one last book to read. It’s called Other Powers by Barbara Goldsmith. Like near death experiences are being used now to support religious belief, all around the world in the 19th century, people took up the belief in spiritualism as proof of religion. Séances became a fad and mania because of the Fox sisters.  People assumed proof of an afterlife validates religion. Even famous people embraced and promoted spiritualism. Abe and Mary Lincoln tried to contact their dead son. No one book can convey the impact of spiritualism had back then but Other Powers  is dazzling because it also covers the suffrage, abolition and temperance movements.  Spiritualism lingers to this day. And that’s surprising because the Fox sisters eventually admitted they were frauds a nd revealed the techniques they used to fool people. Stories are fun. Stories can be a vacation from reality. They can also become an addiction and delusion. I believe writers for print and screen are becoming  so sophisticated at storytelling that we want to binge on them. And preachers and politicians can spin tales that shape our reality. When I watched The OA I wondered if Zal Batmanglij and Brit Marling were showcasing the art, teaching us the art, or warning us about the art of storytelling. I assume all three. In some ways, The OA is like The Life of Pi by Yann Martel. At the end of the story, we’re left with two versions. If you’re a theist, you want to believe one version, if  you’re an atheist you want to believe another version. Now that weve speculated about the power of gurus, saviors and novelists to manipulate people with storytelling, just wonder about those skills in the hands of politicians.

Royal Philips Has A Long Standing And Rich History

Royal Philips Laure Santiago Palm Beach State College Abstract This paper was written to research Royal Philips. In the research we will find that Royal Philips has a long-standing and rich history. We will discuss the diverse products that Philips has invented over the last one-hundred and twenty-five years. Competitor information, industry and market segment will be topics that are addressed in detail. The organizations financials will be provided. A SWOT analysis will be conducted and the strengths and weaknesses of the company will be presented. And finally, recommendations based on information from the company’s SWOT analysis will be revealed. Chapter 1: Research Proposal and Introduction Overview The research conducted will provide information about the history of Royal Philips, the diversification of the company and its products since the company’s founding in 1891. The family founded company has a long standing commitment to innovation and progress. I will discuss the history of the company, some of their many products, and their competitors. A problem that the organization has been having will be discussed. And, finally, a question and a hypothesis are stated. Reason for the paper The reason for this research paper on Royal Philips is to identify a problem that is facing the organization and through research and analysis. Researching all areas of the company gives a better understanding of the ethics, financial state, industry and marketShow MoreRelatedAlexander The Great Has Truly Shaped And Inspired The Entire World2294 Words   |  10 PagesAlexander the Great has truly shaped and inspired the entire world as one of the greatest and most successful military leaders in history. Alexander has influenced many writers, as he is included in the national literatures of some eighty countries. At the age of just thirty, Alexander had conquered what was known as oecumene (the inhabited world). 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Marriage Vs Cohabitation Marriage And Cohabitation

Marriage Vs Cohabitation Introduction: The picture of family has changed dramatically in the last fifty years, due to the incline of cohabitation before marriage. Cohabitation is extremely popular and has become quite the trend. When looking at both married and cohabitating couples there are advantages and disadvantages to both, but when one looks at the day to day small things they share some common ground. The Pros of Marriage: The tradition of marriage was intended to keep couples together for the rest of their lives, and offered many other incentives as well. In the beginning, couples stand together publicly committing to one another pledging to stand together through anything. They tie the so-called knot, and they receive an†¦show more content†¦Consequently, the rate of divorce in today’s society has many people running scarred at the idea of marriage. Furthermore, if the relationship does come to an end there are no strings attached, both people can just walk away. Cohabitating couples can also enjoy a few other things like: According to Modern Maturity (1995) â€Å"You can both earn more before your Social security benefits are taxable, or if you make about the same amount, you can save thousands on income taxes through earned income tax credit and supplemental income.† Then there is â€Å"If you each own a home, you can both get the onetime $125,000 capital gains exclusion on the profit from the sale of those residents.† (p. 74). The Cons of Marriage: Often, people enter into marriage with blinders on, and for the wrong reasons. A couple goes into their life together with this elaborate presentation of their love for one another called a wedding. This is usually just a pricey party when it comes down to it. Then, there is the matter of irreconcilable differences, the big nasty divorce. This can also get very costly, between hiring an attorney, and splitting marital assets. 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Affirmitive Action Reverse Discrimination Free Essays

string(121) " for 200 seats which meant that some qualified students were rejected to make way for less Baker 5 qualified minorities\." Baker 1 Jennifer Baker Reverse Discrimination Even though slavery has not been a part of America for over a century now, racial discrimination still exists in various parts of our culture. A controversial policy known as affirmative action was introduced in the 1960’s to try and promote racial equality in society. Affirmative action is supposed to give minorities an equal chance in life by requiring minority employment, promotions, college acceptance, etc. We will write a custom essay sample on Affirmitive Action: Reverse Discrimination or any similar topic only for you Order Now At first this sounds like a perfect solution to racial discrimination, but in reality it is discrimination in reverse. The term â€Å"affirmative action† was first used back in 1961 by President John F. Kennedy in an executive order designed to encourage racially mixed work forces. He stated that contractors should â€Å"take affirmative action to ensure that applicants are employed without regard to race, creed, color, or national origin. † (Affirmative Action) Then in 1964 the Civil Rights Act was passed which prohibited employment discrimination based on race or sex. The Civil Rights activists continued to argue that minorities weren’t going to be able to compete with the more qualified applicants after having suffered discrimination for so long. So in 1969 President Nixon made it a federal policy that a certain percentage of minorities must be hired in the workplace. Quickly affirmative Baker 2 action changed from being a policy that ensured equal opportunity to being one that gave unfair advantages to minorities. Affirmative action has remained controversial throughout the years, finding itself in and out of the courts. One of the most famous cases was Fullilove vs. Klutznick, which took place in 1980. The ruling stated that setting aside 10 percent of the hiring for minorities was constitutional. Fortunately in 1996 proposition 209 was passed in California which ended affirmative action throughout the state. This was definitely a breakthrough, but the effects of affirmative action still linger. Many businesses and corporations still give preference to minorities even if they are less qualified. Employers fear that lawsuits will be filed stating that applicants were turned down because of their race. Renowned author and political activist Nathan Glazer, has been against affirmative action since its beginning. Glazer believes that the olicy became controversial when it went beyond the ideas of the Civil Rights Act and started requiring employers to hire or promote a certain number of minority applicants or employees. In order to make sure that affirmative action was taking place, federal courts started enforcing â€Å"quotas† or â€Å"goals† for specific numbers of minority hiring. If these were met, lawsuits based on racial discrimination would be less valid. Say s Glazer, â€Å"Affirmative action has become a matter of setting statistical goals or quotas by race for employment†¦ the expectations of color blindness that was Baker 3 paramount in the 1960’s has been replaced by a rigid frame of numerical requirements. †(Glazer, 6) Those who oppose quotas and goals are said to be opposers of the Civil Rights Act, even though the affirmative action of today is not what the Civil Rights Act embodied. Glazer compares the misinterpretation of the Civil Rights Act to the desegregation of schools. In 1954, the Supreme Court ruled that segregated schools were unconstitutional. The idea of racially integrated schools, like racially integrated workplaces, is an excellent one. However, the desegregation of schools has made busing a necessity. Busing, although not in use today, is when students are transferred to another school for purposes of racial integration. It is costly to run all the buses and the commuting is hard on the students. Those opposing busing are said to agree with the segregation of schools. (Glazer, 10) The desegregation of schools was also mentioned in the Civil Rights Act of 1964. Initially this seemed a fair proposal, but just as affirmative action became detrimental in the workplaces, integrating minorities in schools turned into numerical requirements. Can you imagine busing programs being used across the United States today? The scary truth is that once one of these ideas is adopted in one city, any other city can then follow suit. For example, if Santa Cruz County were granted the right to require a 15 percent Hispanic student enrollment in all high schools within the county lines, any other city could also put this idea into practice based on precedent. The assignment of students Baker 4 based on race would cause an endless stream of angry parents. Fortunately busing is in the past, but affirmative action still has its claws in the school system. A few weeks ago I was watching a 60 Minutes segment about a white girl who had filed a lawsuit against the University of Michigan claiming that they did not accept her because of her race. She had graduated from high school with a high GPA and had done everything in her power to become qualified for acceptance, yet she was denied admission. Further research showed that the University of Michigan does in fact admit students based on race. When reading applications, they award points according to criteria. For example, if one writes a good essay he is awarded 1 point and if he is a minority he is awarded 20 points. Something is askew. Is being a minority is 20 times more important than one’s scholarly achievements? The University’s argument is that students learn better in a racially diverse environment. UC Davis is another example. In 1988 only 40 percent of Davis’ freshman class had been accepted solely on the basis of merit. While whites or Asian-Americans needed at least a 3. 7 GPA in high school to be accepted, most minority applicants were accepted even though they met much lower standards. Sixty-six percent of the whites graduated while only twenty-seven percent of blacks did. Even as recently as 1997 one was more likely to get accepted into UCLA if he were black or Hispanic than if he were white. The minority students had both lower GPA’s and test scores. There were 5000 applicants for 200 seats which meant that some qualified students were rejected to make way for less Baker 5 qualified minorities. You read "Affirmitive Action: Reverse Discrimination" in category "Papers" (Chances of Admission) This does not sound like an equal society. In 1995 the University of California system voted to end all affirmative action in admissions. When the changes took effect in 1998, minority enrollment went down drastically. This seems prejudicial, but in reality it is fair and allows competition between the best, regardless of race. Everyone has an equal opportunity to receive an education. Public schools are free and it is mandatory that children attend them. Any student can take full advantage of their first 12 years of education and earn the GPA that will gain them admission into a college. If a student is born into a poor family there are scholarships and student loans available. Malcom X is a perfect example of someone choosing to rise up and get an education. Early in his life he made very unwise choices and ended up a pimp. When he was caught and thrown in jail he decided to begin educating himself. All he had was a dictionary but he used that dictionary and copied down every page. He went from being an illiterate street pimp to a very influential political leader. Affirmative action wasn’t around in Malcom’s time, but today everybody knows about it or has at least heard the term used. The first time I heard about affirmative action was when my brother first started working at Ralph’s supermarket. There was a black woman working there who was very slow and unproductive. One day my brother asked a fellow employee why the lady didn’t lose her job and he said, â€Å"She’s here for affirmative action reasons. † It turned out that whenever the lady was scheduled for a shift, another Baker 6 worker was also scheduled just to make up for the inefficiency of the black lady. My brother’s boss feared a lawsuit if he fired her. This is ridiculous! It is a costly arrangement and unfair to the lady hired just to take up slack for someone else’s laziness. The policy of affirmative action basically states that in order to have an integrated society with equal opportunities for all races, minorities must be given an advantage to make up for their disadvantages. This means that less qualified applicants are getting hired and that students who do not meet the requirements for college admission are being accepted while qualified students are being turned away, all based on race. The Constitution bans the exclusion of minorities from anything based on color, therefore it is unconstitutional to exclude whites based on the same principles. The lesson of great decisions of the Supreme Court and the lesson of contemporary history have been the same for at least a generation: discrimination on the basis of race is illegal, immoral, unconstitutional, inherently wrong, and destructive of democratic society. †(Gross, 1) Affirmative action is asking us to overlook all that we’ve learned and even fought for. Since affirmative action is s uch a hot topic and it affects our country as a whole, it’s important to know how the presidential candidates view this subject. Vice President Al Gore tends to favor the policy while Governor George Bush disagrees with it. Gore’s idea is â€Å"mend it, don’t end it. †(Al Gore) He says that affirmative action has done a lot for women and minorities over the years and that to get rid of it would be a waste. He has yet Baker 7 to provide a way to fix it. Bush argues against quotas and goals and proposes an alternative to this policy, one he has used in Texas. He terms his system of ideas and policies â€Å"affirmative access†. (George Bush) His idea leans more towards the original thinking of the Civil Rights Act and promoting equal opportunity. An example is that the top 10 percent of each high school’s graduates be automatically accepted into the college of their choice. Supposedly the idea has been effective over the past couple of years in Texas. Both candidates have good points. Affirmative action has helped reduce minorities’ and women’s suffering prejudices in the workplace and in school, but on the other hand it has been taken to the extreme and the prejudices have been turned around. We need to get back to the heart of what the original affirmative action intended. Racial prejudices need to be eliminated completely. We are all the same on the inside. There is no reason to consider outward appearances. Employers and colleges only need to look at the applicants’ qualifications when determining who will be hired or accepted. Affirmative action could also use a face-lift, like the name change Bush suggested. When the term â€Å"affirmative action† is used, it is looked upon negatively and is associated with discrimination. A law that requires the acceptance of the most qualified would allow competition of the best and eliminate the issues of minority prejudices. If no regard is given to race, as Kennedy intended, then only the most qualified applicant will be accepted. This is fair. Baker 8 Affirmative action has, in a way, become unfair to minorities. What is going to make them strive to be the best by working hard to get that promotion or studying hard to get those grades if they know they have an easy in? It has become an insult to minorities. Affirmative action is basically saying that they are not as smart or as qualified to be in good schools or in good jobs. It is saying that they need special help to get jobs and into colleges. It is a mockery. I know so many smart minority people who will transfer into better colleges than I and I’m as white as they come! I sat next to a girl this semester who was so intelligent and had the most amazing style of writing. She was a mix of Indian and black. We must not insult these people by suggesting that we must compensate for their â€Å"inferiority† to make everyone equal in the eyes of the law. We were all created equal, and anyone, black, white, or any other race, can choose to set higher goals and achieve them just as Malcom X did. The old affirmative action is outdated. The premise that minorities should be given an advantage to make up for their disadvantages is ridiculous and irrelevant. Most of the minorities coming into the work force were born after the Civil Rights Act was passed in 1964 and therefore have not suffered disadvantages in school or the workplace. If anything, they have reaped the benefits of affirmative action. California and Texas, as well as a few other states, have begun to take major steps in eliminating affirmative action. It is a start but it needs to spread. We are all equal and absolutely no regard should be given to Baker 9 race in education or employment. It is time to end the old affirmative action. We need a policy that eliminates the issue of race completely. How to cite Affirmitive Action: Reverse Discrimination, Papers

The impacts of the US Global economic crisis on the UAE Businesses

The global financial crisis hit the UAE economy when it was enjoying above average growth rate. The market in the UAE was in boom due to the easy and cheap accessibility of capital that resulted in high degree of lending and borrowing and high level of investment and consumption. Commodity prices, such as that of crude oil were high, leading to increased level of capital accumulation. This boom time in UAE coincided with the US sub-prime recession that began in 2005.Advertising We will write a custom report sample on The impacts of the US Global economic crisis on the UAE Businesses specifically for you for only $16.05 $11/page Learn More The financial market was crippled completely when in 2008 Lehman Brothers filed for bankruptcy. 2008 marked a turbulent year for the Arab countries, even though they began the year with high oil prices, buoyant real estate sector, and thriving banking sector (Ravichandran Maloain, 2010). The only problem that was immi nent during the period was increasing inflation due to the depreciation of the US dollars. Therefore the banks that earlier had easy access to international market, were now grappling for finances. This crisis has led to dramatic changes in the growth process of the Arab world and GCC countries (Brach Loewe, 2010; Ravichandran Maloain, 2010). Therefore, the pertinent question that arises is that the degree to which the global financial crisis has affected the economy of UAE, especially its business sector, and the effect it will continue to have on businesses. The aim of the paper is to discuss the global financial crisis and the impact it had on the UAE economy and businesses. The economy of UAE was in boom until 2008, with positive conditions in its financial market, investments, capital accumulation, and growth. The economic growth of UAE when compared with other regions like European Union, the world economy, and the US economy from 2004 through 2009 (see figure 1), it can be observed the UAE economy had a higher growth rate than the other regions through 2004 to 2009. However, the growth rate followed a similar pattern of declining growth rate since 2006. UAE has been one of the fastest growing economies of the world and its GDP had crossed $270 billion mark, even when the construction industry has been in recession but the growth rate of the economy fell to -0.7 percent in 2009 (World Bank, 2010). The economy had a very high growth rate, and the per capita income of the country since 2005 had been higher than European Union countries. The service sector of the economy has been the highest contributor to the GDO with its share at 44 percent in 2009 (World Bank, 2010). Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Figure 1: Comparison of GDP growth (in percentage), Source – World Bank (World Bank, 2010) The economy was doing very well until the real e state industry showed signs of downfall in mid 2008. The boom market had created excess supply of realty. However, property prices crashed by 15 to 25 percent in 2008 (Hartley, 2009) and fell further by 43 percent in 2009 (Global Property Guide, 2010). This resulted in further crash of the business with profit margin shrinking, and sales declining. The financial market crumbled with the share market crashing (Ravichandran Maloain, 2010). The question that arose according to many is that the financial crisis that arose in UAE was due to the â€Å"mistakes in decisions taken prior to the crisis rather than the global financial crisis itself.† (Brach Loewe, 2010, p. 46) Was the crisis in the UAE really related to the problem associated with the mistakes in financial decision making prior to the setting of the global recession? This question requires further deliberations. With the UAE financial market tumbling down, the Central Bank of UAE and the government of Abu Dhabi came to the rescue with a bailout of $10 billion to the state run enterprise, Dubai World that had found it stuck in the crisis. 41 percent of the bailout was meant to take care of the debt obligations of the company related to Islamic bonds (sukuk) of the property related sect of the company. Therefore, the bailout was an imminent measure in order to help the UAE economy hold its position. Though Dubai World had abruptly asked its creditors to repay back their loans, it had created uncertainty among the UAE financial market, and had crashed the stock market. However, the government bailout helped in stabilizing the financial market anxiety both in UAE and globally. The reason for the global shock to the fall of Dubai World was due to the heavy investment of western companies in UAE businesses. Therefore, a recession in the UAE market would affect their already depleting bottom line. Many believe that Islamic bonds were the main reason for the UAE recession and not consider it as an afte r effect of the global recession. Actually, the reason for such an apparent belief is probably due to the bond’s central presence in the negotiations for the bail out. Therefore, many started believing it was the Islamic bonds that were the root cause of the recession. However, sukuk was not the main reason for the recession in the UAE. Therefore were other factors that helped in the recession to set in. in the following paragraphs, these reasons are discussed.Advertising We will write a custom report sample on The impacts of the US Global economic crisis on the UAE Businesses specifically for you for only $16.05 $11/page Learn More The first effect that UAE faced may be characterized as the wealth effect of the global recession. In this case the state and the private business players lost a lot of their accumulated savings as they had heavily invested in the industrialized western world where they lost their wealth as the recession hit the west ern world. In case of UAE, it is believed that the country’s â€Å"sovereign funds were by far the largest worldwide with a total sum that was more almost 400 percent of the country’s GDP† and it is believed that 30 percent of these accumulated savings of were lost during the global recession (Brach Loewe, 2010, p. 49). UAE had its sovereign funds savings invested in emerging market stocks and bonds that crashed with the global recession, in which they too faced heavy losses. Therefore, the main problem of the UAE financial crisis was that the accumulated savings of the country was not invested in the domestic production, but rather was diverted in western countries that were worst affected due to the recent global recession. The financial affect that was faced by the country was related to the stock market of UAE. On an average the stock market indices of the UAE crashed by 50 percent from middle of 2008 through early 2009. This caused a loss of around 40 perc ent of GDP during the crisis in UAE. UAE was hit the worst, as it was a major oil producing country. The reason for the effect was the direct exposure of the country to the western economy. Further, the country was facing a high level of inflation, much higher than the western world, with price for consumer goods and necessities rising. Other research has shown that the global financial crisis has made the economy of UAE for vulnerable to external shocks thus, the global financial market affected the domestic market by crashing the stock market in 2008 (Ravichandran Maloain, 2010). Further, UAE had many help of external financial support that made it more vulnerable to the financial crisis. For instance, many foreign companies invested in development projects in Dubai and therefore the bond market in the whole Arab world was affected due to the west dependent development investments. Further the increased dependency of the UAE on its oild exports also affected it during the financi al crisis. The growth of the UAE economy has been due to the steady increase in the oil prices, however, once the recession hit, the oil prices underwent a correction, and this resulted in decline of the prices by almost 60 percent:Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The decline of oil prices was no good news for the UAE, for the oil sector accounted for about 35.9 percent of the country’s GDP in 2007. Local newspaper Gulf News estimated in July that the oil revenue of Abu Dhabi whose production accounts for nearly 94 percent of the UAE’s crude oil output, would reach 100 billion dollars if the price remained on high level. But the figure seems impossible now. (Jian, 2008) Further there was a bust in the property market, with the property prices declining sharply. However, the boom in the property market reversed as the property prices fell by almost 40 to 50 percent of their previous rent in UAE (Brach Loewe, 2010). The property prices in UAE dropped by 25 percent in 2008 and further by 43 percent in 2009 (Global Property Guide, 2010). The main reason for the crash in the property prices in UAE has been a rise in foreign buyers of property in Dubai that had led to the drastic increase in property prices in the country. However, w ith the recession, foreign investors in the property market vanished, leading to a high price, and no buyers, therefore, crashing the market miserably. Further, there was a rise of short-term speculative buying of property and it crashed as the property market went bust. This led to a recession of the construction industry as â€Å"half of all the construction projects in the UAE, worth †¦ US$582 billion †¦ have been †¦ cancelled in response to falling demand and deteriorating market conditions† (Global Property Guide, 2010). However, certain domestic problem in case of UAE cannot be overlooked. The Dubai World and its fall due to the increased debt in form of Islamic bonds is supposed to be one of the major reasons for the crisis in UAE. With the vision of making Dubai the hub of tourism for the region, there were grand plans for the city that were thwarted due to the drying up of the foreign investments in development projects of the city. Therefore, with the stagnation in property prices in Dubai, the investors became suspicion, and with the global recession, the property market declined heavily, leading to the financial crisis in UAE. The financial crisis in the UAE was caused due to two fold reasons – global financial crisis and the internal development plans that heavily dependent on foreign investment. This made the development project, and thereby the economy vulnerable to external shocks. Thus, with the global financial crisis, there was an instant affect on the stock and real estate market in UAE, and thereby hampering development of the businesses in the economy. However, presently, the economy is slowly recovering from the crisis, and is expected to regain its past galore. References Brach, J., Loewe, M. (2010). The global financial crisis and the Arab world: Impact, reactions, and consequences. Mediteranean Policies, 15(1) , 45-71. Global Property Guide. (2010). UAE house prices go up, but more price falls forecast. W eb. Hartley, J. (2009). Abu Dhabi property prices fall by up to 25%. Web. Jian, P. (2008). Global financial crisis takes toll on UAE. Web. Ravichandran, K., Maloain, A. M. (2010). The Global Financial Crisis and Stock Market Linkages: Further Evidence on GCC Market. Journal of Money, Investment and Banking, 16 , 46-56. World Bank. (2010). World Bank Databank. Web. This report on The impacts of the US Global economic crisis on the UAE Businesses was written and submitted by user Aal1yah to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.