(b) Based on the lessons learned, best practices and any additional steps you came up with in part (a), what if project manager X then got a job at Bank of America. Would it be possible for him/her to implement lean in the banking industry based on experience from the previous positions held at the automotive plant and the pharmaceutical company? Please state yes or no and explain the logic clearly for the same. Also, explain the steps that project manager X could take to implement lean at Bank of America (in the service industry) [10 points] You can refer to your class notes and will also have to do research online for both parts (a) and (b). Please state all the references used for each question.
Q51. Place the following Assets in groups giving justification for … Read More...
CSE 110 – ASSIGNMENT # 3 – Fall 2015 Maximum Points: 20 pts Topics: Chapter 3 • Control flow • if-else • switch statement Note: Your programming assignments require individual work and effort to be of any benefit. Every student must work independently on his or her assignments. This means that every student must ensure that neither a soft copy nor a hard copy of their work gets into the hands of another student. Sharing your assignments with others in any way is NOT permitted. Violations of the University Academic Integrity policy will not be ignored. The university academic integrity policy is found at http://www.asu.edu/studentaffairs/studentlife/judicial/academic_integrity.htm For this project you will create a simple banking program that will allow a user to setup a bank account with initial nonzero amounts for checking and savings, deposit money into the account, withdraw money from the account, and transfer money between checking and savings. Assignments Documentation: At the beginning of each programming assignment you must have a comment block with the following information: /*————————————————————————- // AUTHOR: your name // FILENAME: title of the source file // SPECIFICATION: description of the program // YOUR Lab Letter and Name of the TA for your Closed lab // FOR: CSE 110- homework #- days and time of your class // TIME SPENT: how long it took you to complete the assignment //———————————————————————-*/ Reasonably good amount of comments should be added in your program so that it is easy for other people to understand it. Please see the comment style in the textbook. Part 1: Written Exercises (None) Part 2: Programming (20 points) Algorithms and Output Specification Implementation Details for the Bank Account This program should be implemented using only one class named “Assignment3”. The program must contain a main method only. The bank provides three types of accounts: 1. Basic Account: where the total balance of saving and checking is between 0 to 1000 – Interest rate is 2.5% (0.025) 2. Premium Account: where the total balance of saving and checking is at least 1000 and up to (and including) 5000 – Interest rate is 3.5% 3. Platinum Account: where the balance is over 5000 – Interest rate is 4.5% Creating the bank account When the program begins the following text should be displayed: Welcome to CSE110 Bank What is your name? _ Notice that the cursor is on the same line as the prompt (“What is your name? “). The program reads and saves the name in a variable to use later. The program will then ask for an initial deposit into savings. This value must be saved for later use. You can assume that the user will enter a positive amount. For example: Initial deposit into Savings: 1000 The program will then ask for an initial deposit into checking. This value must be saved for later use. For example: Initial deposit into Checking: 500 Main Menu Display After the account is created the user can deposit money, withdraw money, or transfer money until they choose to quit. The menu to be displayed: Bank Options: 1. Deposit Money 2. Withdraw Money 3. Transfer Money 4. Quit Your choice: The user will enter a number that is between 1 and 4. After the user enters a valid action the account balance will be displayed, for example: David’s Account balance: $1500.00 (S: $1000.00, C: $500.00) The current type of account should be displayed (the balances can of course be different than those displayed) 1. Deposit Money The first option is to deposit money. When the user selects this option, the following menu is displayed: Deposit Money Options: 1. Deposit to Checking 2. Deposit to Savings 3. Cancel Your choice: 1 Amount to deposit to Checking: 150 After the amount is successfully entered, a final message is displayed (replace “Checking” with “Savings” when appropriate): You deposited $150.00 to Checking. 2. Withdraw Money The second option is to withdraw money. When the user selects this option, the following menu is displayed: Withdraw Money Options: 1. Withdraw from Checking 2. Withdraw from Savings 3. Cancel Your choice: 1 Once an option has been chosen, the action is taken. If the user chooses option 3 (Cancel) “Cancel Withdraw.” is displayed and the program will terminate. If they choose 1 or 2 the prompt is displayed asking for the amount to be withdrawn. It can be either for checking: Amount to withdraw from Checking: or for savings: Amount to withdraw from Savings: For example: Withdraw Money Options: 1. Withdraw from Checking 2. Withdraw from Savings 3. Cancel Your choice: 1 Amount to withdraw from Checking: 300 After the amount is successfully entered, a final message is displayed (see the sample execution for an example). If the user enters option 3 the program terminates. 3. Transfer Money The third option is to transfer money. When the user selects this option, the following menu is displayed: Transfer Money Options: 1. Transfer from Checking to Savings 2. Transfer from Savings to Checking 3. Cancel Your choice: 1 If the user chooses option 3 (Cancel) “Cancel Transfer.” is displayed (see the sample execution for an example). If they choose 1 or 2 the prompt is displayed asking for the amount to be withdrawn. It can be either for checking: Amount to transfer from Checking to Savings: or for savings: Amount to transfer from Savings to Checking: An example is shown below: Example 1 Transfer Money Options: 1. Transfer from Checking to Savings 2. Transfer from Savings to Checking 3. Cancel Your choice: 1 Amount to transfer from Checking to Savings: 250 You transferred $250.00 from Checking to Savings. Transaction Finished Message After every transaction is completed (other than quitting) a message is displayed. This is displayed even when the user cancels the selected action (option 3 “Cancel” on the menu): After this transaction your balance is: $1200.00 (S: $1000.00, C: $200.00) This message is the same no matter which type of transaction occurred. Inertest will be added before terminating the program. Displaying Amount All amounts should be displayed with currency format, just as in assignment 2 . Assumptions: • User will enter valid amount & choices • You do not need to check for insufficient funds. Sample Run #1: User input is in bold Welcome to CS110 BANK What is your name? Albert Einstein Initial deposit into Savings: 1500 Initial deposit into Checking: 1000 Albert Einstein’s Premium Account balance: $2,500.00 (S: $1,500.00, C: $1,000.00) Bank Options: 1. Deposit Money 2. Withdraw Money 3. Transfer Money 4. Quit Your choice: 1 Deposit Money Options: 1. Deposit to Checking 2. Deposit to Savings 3. Cancel Your choice: 1 Amount to deposit to Checking: 250 You deposited $250.00 to Checking. After this transaction your balance is: $2,750.00 (S: $1,500.00, C: $1,250.00) We have added interest to your account! (S: $1,552.50, C: $1,293.75) Sample Run #2: User input is in bold Welcome to CS110 BANK What is your name? Jill Smith Initial deposit into Savings: 100 Initial deposit into Checking: 300 Jill Smith’s Basic Account balance: $400.00 (S: $100.00, C: $300.00) Bank Options: 1. Deposit Money 2. Withdraw Money 3. Transfer Money 4. Quit Your choice: 2 Withdraw Money Options: 1. Withdraw from Checking 2. Withdraw from Savings 3. Cancel Your choice: 2 Amount to withdraw from Savings: 43 You withdrew $$43.00 from Savings. After this transaction your balance is: $357.00 (S: $57.00, C: $300.00) We have added interest to your account! (S: $58.42, C: $307.50) Sample Run #3: user input is in bold: What is your name? Faye Navabi Initial deposit into Savings: 20000 Initial deposit into Checking: 15000 Faye Navabi’s Platinum Account balance: $35,000.00 (S:$20,000.00, C: $15,000.00) Bank Options: 1. Deposit Money 2. Withdraw Money 3. Transfer Money 4. Quit Your choice: 3 Transfer Money Options: 1. Transfer from Checking to Savings 2. Transfer from Savings to Checking 3. Cancel Your choice: 2 Amount to transfer from Savings to Checking: 1250 You transferred $1,250.00 from Savings to Checking. After this transaction your balance is: $35,000.00 (S: $18,750.00, C: $16,250.00) We have added interest to your account! (S: $19,593.75, C: $16,981.25) Submit your homework by following the instructions below: ********************************************************************************* • Go to the course web site (my.asu.edu), and then click on the on-line Submission tab. Login to the page by typing your email and password • Submit your Assignment3.java file on-line. Make sure to choose Hw3 from drop-down box. • Assignment3.java should have the following, in order: o In comments, the assignment Header described in “Important Note” o The working Java code o The Assignment3.java file must compile and run as you submit it. You can confirm this by viewing your submission results. Important Note: You may resubmit as many times as you like until the deadline, but we will only mark your last submission. NO LATE ASSIGNMENTS WILL BE ACCEPTED.
Assignment One Suggested Due Date: July 17th In this assignment you will read three articles You will answer questions about Hayek, Lucas, and Mankiw et. al. which consider just those particular articles. Then at the end of the assignment there is a cluster of questions that deal with both Lucas and Mankiw et al where you will have an opportunity to compare and contrast those two articles. When you have completed the assignment, place it in the appropriate drop box in WTClass. Hayek: The Use of Knowledge in Society http://www.econlib.org/library/Essays/hykKnw1.html Adapted from Michael K. Salemi “The Use of Knowledge in Society” F. A. Hayek Discussion Questions 1.1. “The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form, but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess (H.3)” a. What does Hayek mean by a “rational economic order”? b. What does Hayek mean by “dispersed bits of incomplete and frequently contradictory knowledge”? c. Why is Hayek critical of the common assumptions in economic analysis that buyers, sellers, producers and the economist all know every relevant thing about the economy? d. What, in summary, does Hayek mean by the quoted statement? 1.2. What, according to Hayek, is the information needed to operate effectively in a complex market economy? a. What does Hayek mean by “planning”? b. What is the minimum information needed by economic planners and individuals? c. Does the minimum differ for planners and for individuals? How? Why? d. What happens when some individuals possess more information than other individuals? e. What does Hayek mean when he says (H.16) “…the sort of knowledge with which I have been concerned is knowledge of the kind which by its nature cannot enter into statistics and therefore cannot be conveyed to any central authority in statistical form”? f. Why, according to Hayek, can the “information problem” be solved by “the price system”? 1.3. Why, according to Hayek, is the true function of the price system the communication of information? a. Why does Hayek use the term ‘marvel’ in his discussion of the economy of knowledge? b. What does Hayek mean when he says (H.26) “…man has been able to develop that division of labor on which our civilization is based because he happened to stumble upon a method which made it possible”? Read Robert Lucas’ “Some Macroeconomics for the 21st Century” in the Journal of Economic Perspectives. (Skip the appendix.) All four of these links go to the same article. Some of the links might not be accessible to you, but I think that at least one of them should work for all of you. https://www.aeaweb.org/articles.php?doi=10.1257/jep.14.1.159 http://www.jstor.org/stable/2647059 http://www.econ.psu.edu/~aur10/Econ%20570%20Fall%202009/Lucas%20JEP%202000.pdf http://faculty.georgetown.edu/mh5/class/econ102/readings/Macro_21st_Century.pdf 1. According to Lucas, why has the world’s economy grown so much since 1960? 2. According to Lucas, why do some nations grow faster than others? 3. According to Lucas, why will growth and inequality decrease in the next 100 years? 4. Is Lucas’ model in this paper “economics?” Read Greg Mankiw, Romer and Wiel’s article in The Quarterly Journal of Economics. http://www.econ.nyu.edu/user/debraj/Courses/Readings/MankiwRomerWeil.pdf 1. Many economists think the Solow Growth Model is of limited use. (One of my professors at OU stated that it took economists 50 years to figure out that their growth model has nothing to do with growth.) But does the Solow model give “…the right answer to the questions it is designed to address?” 2. Why is human capital important when testing the Solow model against the data? 3. Explain how the authors conclude that the incomes of the world’s nations are converging? Now that you’ve answered questions about Lucas and Mankiw et al separately, consider this question: Both of these papers develop the notion that the economies of the world’s nations will tend to “converge” over time. Compare and contrast the way(s) in which the papers advance the idea of convergence. Assignment Two Due Date July 24th This assignment is very straight forward. You’ll read two papers and answer questions about each of them. Read Krugman’s paper on unemployment http://www.kc.frb.org/PUBLICAT/ECONREV/EconRevArchive/1994/4Q94KRUG.pdf 1. What is the difference between structural and cyclical unemployment? In this context, what is the difference between Europe and the US? What is the evidence that Krugman uses to back his opinion? 2. What is the natural rate of unemployment? Why is it higher/rising in Europe? Again, what is the evidence? 3. What is the relationship between the rising unemployment in Europe and the rise in inequality in the US. (What does Krugman mean by inequality?) 4. What is NOT to blame for either the rise in unemployment or inequality? 5. What policies, if any, can be put into place to combat rising inequality/unemployment? 6. Are you convinced by Krugman’s argument which rules out globalization as the likely cause for high European unemployment and high US wage inequality? 7. Consider Table 2 in Krugman. Why does Krugman include Table 2 in his paper? In other words, what point is strengthened by the data in Table 2 and why is it crucial to Krugman’s larger thesis? NOW, recreate the data for Table 2 for either the UK or US for the latest year possible. Has anything changed as a result of the Great Recession? Read Thomas Sargent’s paper about the credibility of “Reaganonomics.” http://minneapolisfed.contentdm.oclc.org/cdm/ref/collection/p15334coll1/id/366 http://minneapolisfed.contentdm.oclc.org/cdm/singleitem/collection/p15334coll1/id/366/rec/1 You might like this: http://www.ispot.tv/ad/7Lj9/ally-bank-predictions-featuring-thomas-sargent 1. What is a dynamic game? 2. Why should we think of monetary and fiscal policy as dynamic game? Who are the players and what are the strategies? 3. When are government budgets inflationary? (Again, think in terms of a game.) 4. What are the consequences if the monetary authority does not coordinate with fiscal policy agents? 5. Has Sargent done of good job characterizing the interplay between policymakers in the government, the central bank, and the public? 6. What is the connection between policy coordination and credibility? 7. Why, according to Sargent, were Reagan’s fiscal and monetary policy regimes “incredible?” Explain carefully. Assignment Three Due Date July 31 Read Taylor, Miskin, Obstfeld and Rogoff. Answer the questions for each article, then answer the final cluster that requires you to consider Miskin, Obstfeld and Rogoff. Suggested due date: January 2nd. Read John Taylor’s article about monetary transmission mechanisms. http://web.econ.unito.it/bagliano/ecmon_readings/taylor_jep95.pdf Also, to understand traditional monetary policy, listen to this: http://www.econtalk.org/archives/2008/08/john_taylor_on.html These questions refer to the article, not the podcast. 1. How does monetary policy (or changes in monetary policy) affect output and inflation? In other words, what is the monetary policy transmission mechanism? 2. What is the importance of financial market prices in Taylor’s view? 3. What is the importance of rational expectations and rigidities in the prices of labor and goods? 4. What is a reaction function? Why is a reaction function important? 5. What is an “optimal monetary policy rule?” 6. Has the monetary transmission mechanism changed? How? 7. What are the criticisms of Taylor’s views? How does he respond? What do you think? Read Mishkin’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.3 1. What is a financial crisis? 2. How did adverse selection and moral hazard contribute to the financial crisis in Mexico and East Asia in the 1990s? What are adverse selection and moral hazard? 3. Did irresponsible monetary and fiscal policy contribute to the crisis in the 90s? Why or why not? 4. How is it possible for the IMF to help in a crisis when a domestic central bank might not be able to help. 5. What should the US learn (or have learned??) from the crisis in the 90s? Read Rogoff’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 Answer the questions and place the answers in the appropriate drop box in WTClass. 1. According to Rogoff, is the status quo in international lending viable or not? Explain. 2. Can the IMF handle international financial crises? Why or why not? 3. Rogoff gives six solutions to save the global financial system (deep pockets lender of last resort, an international financial crisis manager, an international bankruptcy court, an international regulator, international deposit insurance corporation, and a world monetary authority.) What is wrong with all of these? 4. Can developing economies cope with speculative capital flows without help? Explain. 5. What will be (should be) the role that equity financing play in developing country projects? Read Obstfeld on Global Capital Markets: http://www.nber.org/papers/w6559.pdf 1. Look at table 1 and figure 1. How does Obstfeld use the data in that table to suggest that 1) markets became less open then more open in the 20th century. 2. What is the “openness trilemma?” What are the economic and/or policy trade-offs with having a global, open and integrated financial system? 3. How does economic integration impact a nation’s ability to tax capital? Can you think of some high profile cases in the news lately that illustrate this fact? (Hint: you should be able to.) 4. What is the international diversification puzzle? What market failures have arisen (if any) have arisen due to more integration and openness? Comparing Obstfeld, Miskin, and Rogoff 1. Would the authors’ advice about policies to reduce the costs of financial integration be the same? Why or why not? 2. Would the authors’ agree that we need an international regulatory body to stave off international financial crises? Why or why not? 3. What is your opinion? Is it good to have a global financial market? Why or why not? Assignment Four Due Date August 7 Straight forward assignment: Read and answer the questions. Read Arnold Kling’s history of the policies that created the great recession http://mercatus.org/publication/not-what-they-had-mind-history-policies-produced-financial-crisis-2008 1. Using only the executive summary, what does Kling think caused the Financial Crisis of 2008? (Use only one sentence.) 2. One page 5, what is “the fact?” and what does this “fact” mean to you? 3. Briefly summarize the four components of the Financial Crisis? 4. On page 10, Kling states, “These property bubbles (in the U.K. and Spain) cannot be blamed on U.S. policy.” How confident are you on that point? Is Kling wrong? 5. Kling’s matrix of causes, gives almost all weight to what two factors? What three factors are almost completely not responsible? 6. Many have blamed designer financial (my term) like CDS and CDO and the shadow banking system for the collapse. How do these fit into Kling’s narrative? 7. Outline the progression of policy that caused/responded to economic conditions in the 30s, 70s and 80s and 00s. 8. What role did the mortgage interest deduction have on housing market? 9. What institution invented and allowed the expansion of mortgage-backed securities? 10. What is regulatory arbitrage? 11. Why did the Basel agreement create an advantage for mortgage securitization? 12. Did the Federal Reserve (and presumably other regulatory agencies know and even encourage regulatory capital arbitrage? What author does Kling cite to establish this? 13. What did the 2002 modification of the Basel Rules do to capital requirements? (See figure 4) 14. Summarize the Shadow Regulatory Committee’s statement 160. 15. Did non market institutions, such as the IMF and Bernanke, think, in 2006, that financial innovation had make the banking sector more or less fragile? 16. What is time inconsistency? (You can look this up elsewhere.) 17. How might “barriers to entry” by related to “safety and soundness?” 18. A Curmudgeon is an old man who is easily annoyed and angered. He also complains a lot. (I had to look it up.) I think I’ll change my xbox gamertag to this word, but I’ll bet it is taken. 19. How did credit scoring and credit default swaps enlarge the mortgage securities market? 20. Why, up until 2007, did we think that monetary expansion was all that was needed to mitigate the impact of financial crises? 21. Suppose that financial markets are inherently unstable. What does this mean are two goals of regulation and regulators? 22. Why are type two errors so problematic? (Two reasons.) 23. How could we make the banking sector easy to fix? Assignment Five Due August 13 Read the linked lectures and answer the questions. Lecture 1 http://econlog.econlib.org/archives/2008/11/lectures_in_mac.html 1.1 Why do you think macroeconomic realities must be reconciled with microeconomic analysis? (This is not a rhetorical question, but it will be hard for you to answer. There is no “wrong” answer you could give. Just think about it for a few minutes.) Lecture 2 http://econlog.econlib.org/archives/2008/11/lectures_in_mac_1.html 2.1 Consider this article after you have read Hayek. How do prices and wages perform the function of “central planning?” 2.2 Kling makes that claim that, because most workers do not do manual labor anymore, the economy is different that it was in 1930. Assuming he is correct, do you think central planning would be harder today or easier? Why? Lecture 3 http://econlog.econlib.org/archives/2008/11/lectures_on_mac.html 3.1 Give a one sentence definition of structural unemployment, of frictional unemployment and of cyclical unemployment. Lecture 4 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_1.html 4.1 So, why does the economy adjust employment rather than wages? Lecture 5 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_2.html 5.1 Kling gives 5 reasons the DotCom recession was worse than the previous two recessions (at least in duration). Which reason do you think is the most compelling? Lecture 6 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_3.html 6.1 Why are Keynesian remedies (blunt fiscal and monetary policy measures) less appropriate in a post industrial economy, according to Kling? Lecture 7 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_4.html 7.1 Why is it so hard to separate finance and government, according to Kling? Lecture 8 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_5.html 8.1 Why is American Express Travelers Checks so interesting? Do credit cards work in a similar way? (I really don’t know the answer to this one. I just know that credit cards have made travelers checks obsolete.) Lecture 9. http://econlog.econlib.org/archives/2008/12/lectures_on_mac_6.html 9.1 According to this article, why do we have banks (financial sector or financial intermediation?) Lecture 10 http://econlog.econlib.org/archives/2008/12/lectures_on_mac_7.html 10.1 Why are banks better than barter, according to this leture? 10.2 Politics tends to favor bailouts of failed firms. Why is this exactly wrong?
After reading the supplement article on Business Analytics linked to the week 1 schedule, write an essay on how business analytics impacts you today, or its potential role in your chosen career path. Do research for your paper, or interview someone who works in your area. The goals of this paper are two-fold: (1) focus on high quality writing, using the COBE Writing Styles Guide for writing help and citations. (2) consider the importance of BI from a personal/work/career perspective.