Examine the impact of the recent recession in the British Economy Essay

Examine the impact of the recent recession in the British Economy - Essay Example The contraction over the six quarters of the recession was 6.2%. That peak-to-trough decline was less severe than in Japan, Germany and Italy, but the recession lasted longer than in any other G7 economy†. The recession has impacted every sector of the British economy like production, consumption, employment, energy use, and government spending and tax revenue. The fragile situation of the banking system greatly impacted all sectors of economy and many private companies were forced to close down or end up in loss. Many corporate and small enterprises cut down their employees, who had an overall effect on the earning capacity and spending power of the public.Morover there was also a notable decrease in the demand of energy use as production and consumption of the country declined. Due to recession people look in for alternative renewable sources as they were unable to afford fuel charges as they suffered from lower income and lower unemployment rates. Looking briefly in to the e ffect of recession on different sectors of British economy, the following can be explained: I) Changes in Production and Consumption: Production and consumptions is an endless cycle of any economy or market of a developed, developing nation. Britain being a large economy has major public and private companies operating under its constituition.With the breakout of recession, the production and service sector of the country was doomed and this indeed resulted in a tremendous cut in the employment rate of the country. The finance sector and manufacturing sector being interconnected was worse affected which led to the closure of small private owned organizations and many service outlets. In 2008 the UK GDP fell by 5.1 % and this could be mainly because the UK government supporting more the finance sector rather than the manufacturing sector. Due to recession the worst hit area was the construction sector of British economy. By December 2008 , the construction sector of Britain shrank at fast pace than ever, taking civil engineering and commercial sub sectors along with it.Morover the slump in the housing construction field resulted in a downturn in housing market sector. The manufacturing sector being interconnected affected all the production units of the economy which resulted in lesser profitability. Unemployment was the end result and lower household consumption was the end result. As per (Dolling) â€Å"Household final consumption expenditure accounts for about half of the expenditure measure of GDP and is seen as an important economic indicator.† II) Changes in Employment, Unemployment and Productivity; It is a very obvious fact that, recession can bring around sharp decline in the employment rate of an ecnomy.Since the productivity is low, there can be a very evident decrease in the job cuts and this is directly related to decreased house hold consumption .Many people were removed from employment and also faced with considerable cut in their salary r ate because of slumber economy. â€Å"Troubled house builder Barrett last week announced plans to cut 1,000 of its 6,700-strong workforce while Pen dragon, the country's biggest car dealer, laid off 500 workers†(Blackden).If such is the case with employment cuts, unemployment rates in the country can soar which will make the people with less or no spending power. Since recession of 2008, many students who have

Psychological Case Study Essay Example | Topics and Well Written Essays - 2000 words

Psychological Case Study - Essay Example Prior to the age of 13, her parents describe her as "well-behaved and doing well in school". Up to that time, she had no problems academically or behaviorally in school. The trouble began when Client S began eighth grade. At that time, her behavior began to change. Client S was born in Australia and her parents both work. It is not clear why the parents stated that she was born in Australia. Her mother works as a receptionist and her father is a supervisor for an electrical whole sale firm. It appears from what they have stated that they have traditional values and want her to abide by their rules. The client does not seem to think that these rules are necessary since she is now 15. Presenting Problems/Symptoms During the counseling session, the client presents as very positive and confident. She is dressed very clean. During the counseling session, she talks about her parents and feels that they are being too strict with her. She states that she hates doing chores and homework. She has been doing many things to show signs of rebellion: she snuck out of the house and stayed out late, complains about her parents to let her go out and hang with her friends. She states that her friends always get to do things that she does not. Evidence Based Theories and Models Client S does not seem to be exhibiting behavior that is inconsistent with being a teenager. In looking at theories and models, it was important to describe developmental theories and models that work well with teens. Although Sigmund Freud had many things to say about adolescence, it was Erik Erikson who took Freud's theories and advanced them. In Erikson's theory, Client S represent's Erikson's fourth developmental stage which is ego identity vs. role confusion. In this stage, the peer group is more important than family and the peer group acts as role models. During the time between ages 12 and 18, Client S will be struggling to be herself and to identify what that means to her. The psychosocial values that she will possess will be fidelity and loyalty (Boeree, 2006). In applying Erikson's theory to Client S, it becomes clearer that she is in the phase of wanting to be with her friends and they are making up a large part of her life. The challenge can be that the friends she has chosen may not be the best friends for her and they may be influencing her behavior. This would be something to explore in sessions. Piaget took a more cognitive approach in his developmental stages saying that children are able to reason in the abstract after the age of 12. Adolescents may become more self conscious about their appearance and that they are always being criticized for who they are at any given moment (Resource Center for Adolescent Pregnancy Prevention, 2009). Physical development is very important at this age as well. The hormones in the body are changing and the adolescent can be going through physical and emotional changes. The child is moving from being a child to maturing into adultho od. Although this happens differently for different children, all children go through this change at some time. In addition to the physical maturing of growing breasts and hair under the arms and in the pubic area, teens also experience their first menstrual periods and they begin to worry about their bodies. Emotionally, the teen may be experiencing mood swings, or pushing away from the parents in an attempt to create their own identity (U.S. National Library of Medicine, 2011). All of these changes are