Friday, May 22, 2020

Converse History The Story of the Iconic Chuck Taylors

Converse All Stars, also known as Chuck Taylors, are casual shoes that have played a significant role in pop culture for decades. Initially designed as a basketball shoe in the early 1900s, the soft cotton and rubber-soled style has remained largely unchanged for the last century. Did You Know? Chuck Taylors were the official shoe of the Olympic Games from 1936 to 1968. Meet Chuck Taylor Converse All Star sneakers were first released in 1917, and basketball star Charles â€Å"Chuck Taylor became a Converse shoe salesman in 1921. Within a year, he inspired a restyling of the brands basketball shoe, which led to the nickname Chuck Taylors. Converse also added Taylors signature and the all-star patch to the side of the shoe as a reference to the athlete who inspired them. During this period, the Converse All Star was primarily a basketball shoe, and Taylor advertised it as such. He traveled across the United States conducting basketball clinics in order to sell the athletic shoes. In fact, Converse All Stars were the official basketball shoe of the Olympic games for over 30 years. Later, during World War II, they were the official athletic shoe of the U.S. armed forces. Chuck Taylors became the choice shoe for general athletic events, from gym class to professional powerlifting. Converse Goes Casual By the end of the 1960s, Converse was responsible for 80% of the sneaker market as a whole. This shift to casual sneakers solidified Converse All Stars as a cultural icon of the people, not just the athletic elite. Though the initial Chucks were in the classic black and white, they became available in a litany of colors and designs as well as limited and special editions. The shoe also diversified its textures to be available in suede and leather along with the original cotton style. Converse All Stars began to lose their dominance in the 1970s when other shoes, many with better arch support, created competition. Soon, elite athletes stopped sporting All Stars. However, Chuck Taylors were quickly picked up by artists and musicians as a symbol of the underdog. The character Rocky Balboa wore Chucks in the movie Rocky, and the Ramones frequently sported Chucks because they were inexpensive. Elvis Presley, Michael Meyers, and Michael J. Fox all wore Chucks in their films, further marketing the sneaker as a shoe for young rebels. The cheap sneakers became a symbol of U.S. subcultures as the retro look fit the grungy style of the punk rock era. Nike Buys Converse Though Chuck Taylors were incredibly popular, Converse’s business was failing, leading to multiple claims of bankruptcy. In 2003, Nike Incorporated bought Converse for $305 million and recharged the business. Nike brought Converse’s manufacturing overseas, where the majority of other Nike products are produced. This move decreased the production costs and drove up Converse’s profits. Chuck Taylors Today High-top and low-top Chuck Taylors remain popular. In 2015, Converse released a collection of Chuck Taylors inspired by Andy Warhol—a significant choice, as Warhol is famous for his pop art depictions of U.S. popular culture. In 2017, the Chuck Taylor Low Top shoes were the second best selling sneaker in the U.S. and have historically consistently been within the top ten best sellers. The affordability of the shoe is a large part of its popularity, but the marketing and history of the sneakers as a facet of pop culture give it staying power.

Monday, May 18, 2020

Charles Darwin s Theory Of Evolution - 1737 Words

The theory of evolution is one of the great intellectual revolutions of human history, drastically changing our perception of the world and of our place in it. Charles Darwin put forth a coherent theory of evolution and amassed a great body of evidence in support of this theory. In Darwin s time, most scientists fully believed that each organism and each adaptation was the work of the creator. Linneaus established the system of biological classification that we use today, and did so in the spirit of cataloguing God s creations. In other words, all of the similarities and dissimilarities among groups of organisms that are the result of the branching process creating the great tree of life (see Figure 1), were viewed by early 19th century philosophers and scientists as a consequence of omnipotent design. Figure 1: A phylogenetic tree of life constructed by computer analysis of cyochrome c molecules in the organisms shown; there are as many different trees of life as there are methods of analysis for constructing them. However, by the 19th Century, a number of natural historians were beginning to think of evolutionary change as an explanation for patterns observed in nature. The following ideas were part of the intellectual climate of Darwin s time. No one knew how old the earth was, but geologists were beginning to make estimates that the earth was considerably older than explained by biblical creation. Geologists were learning more aboutstrata, or layers formed byShow MoreRelatedCharles Darwin s Theory Of Evolution984 Words   |  4 PagesCharles Robert Darwin was a British man who became one of the greatest contributors to the study of evolution. He was a naturalist who was able to develop a theory of evolution based on biological changes that he witnessed occurring in varieties of samples on his travels all around the world. Charles Darwin is valuable in science history, simply because he was the first geologists who had come the closest for closing the gap on how and why biological changes occurred. The naturalist and geologistRead MoreCharles Darwin s Theory Of Evolution801 Words   |  4 PagesThe theory of Evolution is one of the greatest intellectual revolutions of human history. It can drastically change our perception of the world and our place in it. Charles Darwin created a coherent theory of evolution and amassed a great body of evidence in support of this theory. During this time, most scientists fully believed that each organism and adaptation was the work of the creator. A fellow scientist Carl Linnaeus created a system of classifications that we still use today. Charles RobertRead MoreCharles Darwin s Theory On Evolution Essay1074 Words   |  5 Pagesand how did life start, along with the creation of the universe and Earth? Charles Darwin’s theory on evolution, which is called natural selection, is based on the idea of species naturally adapting to their surrounding environment to better the species chances for survival. Creationism, on the other hand, is the belief that the universe and living organisms originate from specific acts of divine creation. Both are theories on life, and how such life came to be thing we all know. It is not the strongestRead MoreCharles Darwin s Theory Of Evolution1750 Words   |  7 PagesCharles Darwin is remembered for his theory of evolution. Much controversy surrounds Darwin s theory. Questions abound. Is evolution a four billion year old process, creating life forms primarily at random but each shaped by an ever-changing and complex environment, that has resulted in all of the wondrous life forms that surround us? Or are all of those beautiful elements of our nature, along with the vastness and majesty of the entire universe, a creation of an intellect of vast intelligence andRead MoreCharles Darwin s Theory Of Evolution1055 Words   |  5 Pages Charles Darwin was an English naturalist and geologist, he was known greater for his contributions for the evolution theory. Darwin wrote a book in 1859 it was published and became the greatest and well known book. The name of the book was â€Å"On the Origin of Species†. In the book he wrote about his theory of evolution by natural selection, he discovered how the process of how organisms change as time goes on. Changes in traits and the organism’s physical behavior. Darwin believe change happensRead MoreCharles Darwin s Theory Of Evolution951 Words   |  4 Pagesmore vigorously than in America’s public school science classrooms. Of particular concern for school administrators and the educators whom they supervise, are the repeated efforts of Christian fundamentalists to replace the teaching of Charles Darwin’s Theory of Evolution by Natural Selection with Biblical Creationism. During the past ninety years, many legal cases have further defined the bo undary of that wall of separation. In response, the methods employed by the proponents of Biblical CreationismRead MoreCharles Darwin s Theory Of Evolution1957 Words   |  8 Pagesdiscusses the theory of evolution in detail. Topics this paper will address include defining the theory of evolution and explaining how the theory has evolved over time, as well as highlighting the strengths and weaknesses of the theory and examining how effective the theory is in today’s world. I. Description of the theory The theory of evolution sets forth an explanation of how all of the living species on Earth came to be. The theory as we know it today, written by Charles Darwin, states thatRead MoreCharles Darwin s Theory Of Evolution2319 Words   |  10 PagesCharles Darwin is commonly known for writing On the Origin of Species, published in 1859. Based on his findings, Darwin concluded to â€Å"the theory of evolution, [by which] is the process of which organisms change over time as a result of changes in heritable or behavioral traits† (Than, 2015). Certain changes that occurred in the organism s’ environment allowed it to evolve, survive, and produce offspring with those developed traits. He recorded his findings while aboard the second voyage of H.M.SRead MoreCharles Darwin s Theory Of Evolution Essay2312 Words   |  10 Pages Darwin and his Followers Charles Darwin is one of the most well known names in the United States for good reason. His theory of evolution through natural selection was not only revolutionary in the scientific world, but were also applied to society by some of his followers in this country. Some of these applications were beneficial to society while others simply allowed people to use his teachings for their own goals. While not apparent at first, Darwin does believe in a meaning in life similarRead MoreCharles Darwin s Theory Of Evolution1714 Words   |  7 Pagesâ€Å"Survival of the fittest† is one of the greatest concepts discussed by Charles Darwin (who is known as the father of evolution) and which has also affected many species throughout the world over the years, including us! As presented in his theory of evolution, Charles Darwin explains how those with advantageous traits will be able to better survive than their fellow counterparts. In other words, organisms with traits best suited for their environment will have higher chances of surviving than those

Thursday, May 7, 2020

Career Development Of Human Services - 1926 Words

Careers in Human Services Intro to Human Service 101.31 Post University There are many jobs with in the human service profession. The Human Service field is wide open with opportunities and various areas of employment. Our text, An Introduction to Human Services, Woodside McClam explain, the helper is an individual who assists others. This very broad definition includes professional helpers with extensive training, such as psychiatrists and psychologists, as well as those who have little or no training, such as volunteers and other nonprofessional helpers (2015). Many people come into this field simply because they want to help others, they are passionate about serving others and value human services as rewarding†¦show more content†¦Social workers meet in an office, hospital or school setting. Our text states, the focus of social workers is helping individuals, families, and groups cope with a wide variety of problems (2015). Social workers can work as a case manager, keeping records, files, and different types of documents and referrals for t heir client. They will take notes, make plans and keep the clients needs and choices in the clients hands, making sure they are respected and valued at all times. Social workers will network and work with others to ensure the client’s needs are being meet. The Occupational Outlook Quarterly states, a social worker also acts as an advocate for clients and refers them to other resources (2011). Their tasks vary and are similar to many other jobs in the field. The educational requirements are a bachelor’s degree to start, and require masters for positions in mental health or administration (Woodside McClam, 2015). According to Human Services Career Network, This position interviews, coordinates, and plans programs and activities to meet the social and emotional needs of their clients. Works with the client to utilize community resources to meet individualized needs of the client. Typically reports to a senior case manager or director (2005). Social workers work with all populations, range from individual to group, from young to elderly and special needs. The average salary according to the Occupational Outlook is $44,200 per

Wednesday, May 6, 2020

Advent of a National Hero - 1186 Words

Advent of A National Hero I. Introduction Dr. Jose Rizal is a unique example of a many-splendored genius who became the greatest hero of a nation. Endowed by God with versatile gifts, he truly ranked with the worlds geniuses. He was a physician(opthalmic surgeon), poet, dramatist, essayist, novelist, historian, architect, painter, sculptor, educator, linguist, musician, naturalist, ethnologist, surveyor, engineer, farmer, businessman, economist, geographer, cartographer, bibliophile, philologist, grammarian, folklorist, philosopher, translator, inventor, magician, humorist, satirist, polemicist, sportsman, traveler, and prophet. Above and beyond all these he was a hero and political martyr who consecrated his life for the†¦show more content†¦The Surname Rizal The surname of the Rizal family was Mercado, which was adopted in 1731 by Domingo Lamco, who was a full blooded Chinese. Rizals family acquired a second surname - Rizal - which was given by the Spanish alcalde mayor of Laguna, who was a family friend. The Rizal Home The house of the Rizal family, where the hero was born, was one of the distinguished stone houses in Calamba during Spanish times. It was a two-storey building, rectangular in shape, built of adobe stones and hard-woods, and roofed with red tiles. A Good and Middle-Class Family The Rizal family belonged to the principalia, a town aristocracy in Spanish Philippines. It was one of the distinguished families in Calamba. By dint of honest and hard work and frugal living, Rizals parents were able to live well. From the farms, which were rented from the Dominican Order, they harvested rice, corn, and sugarcane. They raised pigs, chickens, and turkeys in their backyard. In addition to farming and stock raising, Doà ±a Teodora managed a general goods store and operated a small flour-mill and a home-made ham press. Home Life of the Rizal The Rizal family had a simple, contented, and happy life. In consonance with Filipino custom, family ties among the Rizal’s were intimately close. Don Francisco and Doà ±a Teodora loved their children, but they never spoiled them. They were strict parents and they trained their children to love God, to behave well, to beShow MoreRelatedCharacter Analysis Of Watchmen And Jimmy Corrig The Smartest Kid On Earth1669 Words   |  7 PagesAge. In the Modern Age of comic publishing, contemporary comics tend to appropriate, adapt, and deconstruct tropes from the Golden and Silver Age of comics. Ultimately, contemporary comics end up producing a corrupted image of the idealized American Hero. Watchmen and Jimmy Corrigan: The Smartest Kid on Earth both experience nihilism and cynicism following the attempt to apply heroic tropes to contemporary social issues in their own modern contexts. Both of these graphic novels acknowledge the corruptionRead MoreNapoleon Bonaparte Essay892 Words   |  4 PagesFrance were replaced with an ever-changing series of governments. None lasted for more than a few years. The ruler, and King, of France at the beginning of the Revolution in 1789, was Louis XVI. He ruled as an absolute monarch, yet his abuses of the National Assembly and his excesses of power ultimately brought about his downfall. Louis tried to flee the country, but was captured and brought back to Paris where he was tried and sentenced to death by the guillotine (by one vote) for treason. MaximilienRead MoreThe Debate About Information Freedom996 Words   |  4 PagesPros and cons of WikiLeak The debate about information freedom has become fiercely contested with the advent of WikiLeaks. Wikileaks is a non-profit organization which collects original resources and publishes on the website. It provides a secure platform for whistleblowers. Some people consider Julian Assange (leader of WikiLeaks) as a hero who has provided a platform to uncover the truth. This essay discusses the pros and cons for the issue. In 1971, The NewYork Times and Washington Post newspapersRead MoreThe Good and the Bad of the 1920s909 Words   |  4 Pagesfinal departure from agriculture, no longer being a predominantly rural social. Some viewed the advents of automobiles and appliances and airplanes as fantastic, welcoming them with open arms. â€Å"The Bridge† depicts a new architectural structure with pride and beauty, displaying it in such a way that suggests opportunity (Doc B). After successfully flying across the Atlantic, Charles Lindbergh is hailed as a hero (Doc F). 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The dead-ball era was dragging on, and there were to few baseball purists left to support it. Baseball was in search of a new audience, and Babe Ruth handed it to them on a silver platter. Babe Ruth started the Home run era of baseballRead MoreUnited States Northern Command ( Usnorthcom )1564 Words   |  7 Pagesinfluence and access to help business leaders to achieve corporate goals. Security directors should reexamine their functional responsibilities to make sure they are in alignment with the enterprise goals and objectives.† Words are thrown around like hero. But at the end of the day, he was just my brother. And that s what I miss the most. I miss my brother.--Jim Halloran, brother of fire Lt. Vincent Halloran After 9/11, shares Thomas Collins, security manager for the City of Houston’s Public WorksRead MoreThe World War II Hero And Late Five Star General Douglas Macarthur Essay1476 Words   |  6 Pages â€Å"Anyone who commits American Forces to a land war in Asia, ought to have his head examined,† averred the World War II hero and late five-star general Douglas MacArthur, assaying the United States involvement in Vietnam with President John F. Kennedy in 1962 (McDougall 2013, 251). Apprehensive about a Communist drive in Asia, the United States Congress radically dissented from MacArthur s perspective while the vast preponderance of Americans wallowed in ambivalence. The Vietnam War was a warRead MoreGlobalization1678 Words   |  7 Pagesï » ¿Performance Management and Organizational Effectiveness (U.S. - China Joint Venture) Introduction Each year, globalization plays a more profound role in regards to the national economies of the world. 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Organisational Behavior Assignment Free Essays

Groups and Organizational Dynamics Assignment Prof. Nafisa Kattarwala Submitted by – Ryan Pereira PT-MBA Div. B Roll No. We will write a custom essay sample on Organisational Behavior Assignment or any similar topic only for you Order Now 39 What are the types of groups you have worked with in an organization, what are the conflicts that had arisen and how did you resolve them? A group is defined as two or more individuals, interacting and interdependent, who have come together to achieve particular objectives. Groups can be either formal or informal. Formal groups are those groups that are defined by the organization’s structure, with designated work assignments establishing tasks. Informal groups are alliances that are neither formally structured nor organizationally determined. Informal groups are natural formations in the work environment that appear in response to the need for social contact. Formal groups are further classified into command groups, task groups and functional groups whereas informal groups are classified into interest groups and friendship groups. As an employee of JPMorgan, I had the privilege of working with a wide variety of groups ranging from functional (formal) groups to interest and friendship (informal) oriented groups. The formal functional group which I was associated with had been formed in order to achieve the organizational objective. As a part of the corporate actions and income processing team, my groups’ primary function was to ensure corporate action notices were sent out to clients in a timely fashion and ensuring payment of incomes (dividends and coupons) to all entitled JPMorgan clients were completed as per the specified deadlines. We were a group of 5 individuals (4 males and 1 female). The conflict that had initially risen within this formal functional group was the work allocation to males and females. As the team was usually heavily burden with volumes throughout the major part of the week and as the female in the group had to leave early to take care of household activities, she had informed the group that she would not accept additional work and will be working for only a fixed number of hours. This did not go well with the rest of the male employees who had to put in extra hours in order to complete the work. The male employees felt that she was taking undue advantage of the fact that she was a female and taking on less work and responsibilities as compared to them. As the team leader was on an extended leave, it was the operations analyst’s responsibility to handle the situation and maintain order in the group. As I was the operations analyst in the group, I ensured that the interests of all the parties in the group were met by requesting the female member of the group to do an early shift (early morning 7 AM to 5 PM) so that she could handle a majority of the workload in the morning and could leave at her scheduled time so that she could also complete her household activities. In this way the interests of the female employee was met as well as that of her male colleagues who had relatively less workload at the latter part of the day as compared to before the conflict. The second group that I was associated with was informal in nature and was an interest group. JPMorgan has a wide variety of hobby groups that an employee can join, in order to enrich the employees’ interest in certain hobbies like reading, trekking, etc. I had enrolled myself in the reading group as I am an avid reader and knew that JPMorgan has an extensive collection of books and literature and could benefit extensively from my associations with the group. The group used to give out books (novels of all genres – management, science fiction, adventure, autobiographies, crime, detective, etc. ) to employees for a period of two weeks after which the employee would be requested to return the book to the group so that the group could lend the books to others. The group used to also hold book reviews and discussions on many occasions. The conflict that arose in this group was that a few group members felt that only they were actively participating in the reading group and the others were just there for name sake and were like sleeping partners. The members felt that there were individuals in the group who were not even responsible for the books lent by them to employees nor did they keep accurate tabs on those who had taken the books and had not yet returned the books as per the scheduled deadlines. As a result of this irresponsibility, the group had lost/ misplaced several titles from its collection and the books could not be replaced as the group was formed as a recreational group without any funding from senior management for purchasing books. The books that were in possession with the group were donated by employees and colleagues over the years and the collection had amassed to an impressive one. The group decided that as there were indeed individuals who were contributing relatively less as compared to the other individuals in the group, the group should list down all the activities that it entails and should allocate jobs/ tasks to each individual in the group. There should be primary, secondary and tertiary roles assigned to individuals so that no task/ group activity is left unchecked if one or two employees of the group were absent on a particular day. This way each individual in the group is given the responsibility of a certain group activity or task and no individual is sitting idle in the group without any work or with making any contribution in the group. Furthermore, it was decided that the tasks/ group activities would be rotated amongst the group members so that no one individual gets bored/ uninterested with the same activity and so that all the members in the group gets a hands on approach to all the activities of the group. The rotation was done on a month to month basis and quarter basis depending on the activity. The third group that I was associated with was an informal friendship group. In JPMorgan, I had the privilege of meeting some amazing and extremely talented people. I was fortunate enough to form a lasting bond of friendship with such individuals. These individuals were from different backgrounds and had different thought processes and hence I was able to learn a lot from them. We were a total of seven friends at JPMorgan – four males and 3 females. All of us were from different departments and used to sit on different floors of the same building, but we used to meet up to have lunch together as a group. We used to co-ordinate amongst ourselves and used to meet in the office cafeteria. In a span of one year we had become really good friends and had some truly memorable times with each other. One day when the entire group was seated for lunch at the office cafeteria, a conflict of sorts broke out amongst the group when one of the guys in the group made a general statement and one of the girls in the group took the statement personally and felt that the statement was directed at her as an insult. The guy in the group did not intentionally want to insult the girl but the girl took the statement in that manner. Due to this miscommunication, there was a cold war between the girl and the guy and those that were around them. The rest of the friends in the group did not understand why the two were behaving in such a negative manner towards each other. All those who were part of the group started acting differently around each other as they too were friends with the guy and the girl in some way or the other and they could not take sides. Due to this there were a lot of petty issues which were brought up and made into big issues as the group started fighting amongst themselves. In the end, we all split up and are no longer in touch with each other. We decided to stay apart as the incident created a riff in the friendship which could not be bridged. These are some of the groups that I was associated with along with the conflicts that had been faced and how they were resolved. How to cite Organisational Behavior Assignment, Essay examples

Economics for Business Monetary Policy

Question: Discuss about the Economics for Business for Monetary Policy. Answer: Australias monetary policy The tools of monetary policies are Open Market Ratio (OMO), bank interest rates or the cash rates in terms of Australia; Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). It also includes repo rate and reverse repo rate. The author analyzes the monetary policy of Australia from the year to 2010 to 2013(Fenna 2013). Table1: Australias interest rate from the year 2010 to 2013 Year 2010 2011 2012 2013 Interest rate (%) 6.2 % 1.5 % 4.8 % 6.4 % (Source: "World Bank Group"2016) The above analysis shows that the interest rate or the rate at which the banks lend money to people is falling till the year 2011 after which it rises. The above analysis shows that the Reserve Bank of Australia is adopting the contractionary monetary policy to curb the money supply in the economy. Charging high interest rates means that the reserve banks want to control the money supply in the economy. When the interest rate is high people will take fewer loans and investment will fall because the price of loans increases. Savings will increase and the money supply in the economy will fall. High interest rates means the price in the economy rise that is the inflation rises in the economy (Plumb et al. 2013). Table2: changes in the interest rate in Australia as presented by Reserve Bank of Australia Change date Percentage May 2016 1.750 % February 2015 2.250 % August 2013 2.500 % May 2013 2.750 % December 2012 3.000 % October 2012 3.250 % May 2012 3.750 % December 2011 4.250 % (Source: Mywealth.commbank.com.au 2016) The above analysis shows that the interest rate is falling from the year 2011. The main tool of monetary policy is the interest rate that greatly affects the monetary policy of the economy. The main objective is to control the money supply in the economy to stimulate growth, achieve high employment, increase GDP and maintain the inflation rate (Lowe 2012). The other tools of the monetary policy that the reserve bank of Australia uses are the cash reserve rate. Cash reserve ratios are the certain percentage of money that commercial banks have to keep with central bank. High cash reserve rates means that the central bank wants to control the money supply and vice versa. Similarly statutory liquidity ratio is the reserves that commercial banks need to keep with central bank in form of gold. Open market operations are the ratio at which the government bonds and shares are sold to people by the central bank. If government wants to control money supply in economy then it will sell bonds in the market and if it wants to decrease the money supply bonds and shares will be purchased from people by government (Karadi and Gertler 2015). According to the World Bank data banks liquid reserves to bank assets ratio was last measured at 1.06. The main component of monetary policy is interest rates. Australias unemployment and inflation rate Year Unemployment rate (%) Inflation rate (%) 2011 5.1 3.3 2012 5.2 1.8 2013 5.7 2.5 2014 6.1 2.5 2015 6.1 1.5 Here it can be seen that changes in interest rate has its effect on the inflation rate and the unemployment rate as well. The unemployment rate rises as the interest rate falls and the inflation rate or the prices of the goods falls in the economy. The reason for the rise in the unemployment rate is the rise in the population and the fall in the money supply of the economy. When the investment is low in the economy the unemployment rises. Fall in interest rate raises the price level in the economy because the investment rises so people charge high prices for their goods and services (Gali 2015). Affects and problems on Australian economy The main aim of the reserve bank of Australia is to set the cash rates or the interest rates at the level where the country can achieve full employment and maintain price stability. It also aims at maximizing the welfare of the economy and increase the economic prosperity of Australian people. It seeks to set the inflation target at 2-3 percent on an average. The interest rate has great effect on the inflation rate. The interest rate is set at such level so that the reserve bank can set the inflation target at 2-3 percent. The main tool is the cash rates are the rate at which the commercial institution transacts the money. The cash rates in Australia are largely influenced by the open market operation or ratios. Monetary policies are also used to manage the debt in the economy. Repo rate is the rate which the central bank lends money to commercial bank in case of any shortfall of money and reverse repo rate is the rate at which the central bank borrows money from commercial bank (Bac kus et al. 2013). Changes in the monetary policy or the interest rate directly affect the value of Australian dollar. In 2010 the interest rate charged by the central bank was 6.2 %. This means that the interest was high in the economy. High interest rates mean low investment and high savings. High interest rates also mean low inflation rate. Interest rates and inflation rate have negative relation. In 2011 the interest rate was 1.5 % that is very low. Low interest rates means that the government wants to increase the money supply in the economy and want the prices to rise to achieve the economic growth. This is the expansionary monetary policy that the government follows (Plumb et al. 2013). In 2012 the interest rate was at 4.8 %. This means that the interest rate was neither too low and nor too high. The government wanted the economy to stabilize by stabilizing the price of the goods and services in the county. In 2013 the interest rate again rose to 6.4 %. This means that the government or the central bank of Australia wanted the money supply in the economy to be lowered in order to decrease the inflation rate. When then inflation or the prices of goods in economy rises then the central bank increases the interest rate so that money supply in the economy falls. The recent press release shows that the parliament wants to lower the interest rates or the cash rates to drop to 1.75 percent. The main reason to do this is to increase the prices of the goods and services in the economy (Downes et al. 2014). Conclusion The global economy of Australia is growing. Monetary policy is an important tool that the central bank of an economy uses to maintain the money supply and price stability in the economy. The main tool of monetary policy is interest rates. It is the rate that central bank or the banks charge to lend money. Open market operation greatly influences the cash rates in Australia. The main effect of interest rates is seen in the inflation rate. Interest rates largely affect the price level. The interest rate in Australian economy is fluctuating in nature. Currently the central bank plans to lower the interest rate to increase the price level or the inflation as interest rate and inflation rate have inverse relationship. The main aim of Australian government is to achieve the inflation target by using the monetary policy. References "How Do Interest Rate Changes Affect Me? | Mywealth Commonwealth Bank". Mywealth.commbank.com.au. N.p., 2016. Web. 25 May 2016. "World Bank Group". World Bank Group. N.p., 2016. Web. 25 May 2016. Backus, D.K., Gavazzoni, F., Telmer, C. and Zin, S.E., 2013. Monetary policy and the uncovered interest rate parity puzzle.Available at SSRN 1634825. Bekaert, G., Hoerova, M. and Duca, M.L., 2013. Risk, uncertainty and monetary policy.Journal of Monetary Economics,60(7), pp.771-788. Downes, P., Hanslow, K. and Tulip, P., 2014. The effect of the mining boom on the Australian economy.Reserve Bank of Australia Research Discussion Paper,8, pp.1-44. Fenna, A., 2013. The economic policy agenda in Australia, 19622012.Australian Journal of Public Administration,72(2), pp.89-102. Gal, J., 2015.Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework and Its Applications. Princeton University Press. Karadi, P. and Gertler, M., 2015. Monetary Policy Surprises, Credit Costs, and Economic Activity. In2015 Meeting Papers(No. 447). Society for Economic Dynamics. Lowe, P., 2012. The changing structure of the Australian economy and monetary policy.The Recent Economic Performance of the States 1 Trends in National Saving and Investment 9 The Distribution of Household Wealth in Australia: Evidence from the 2010 HILDA Survey 19 Indias Steel Industry 29, p.79. Plumb, M., Kent, C. and Bishop, J., 2013.Implications for the Australian economy of strong growth in Asia. Economic Research Department, Reserve Bank of Australia.