Search results for: economic experiment

Authors: Anuj Kumar Vaksha

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In the post cold war era the foreign direct investments have come to be considered as one of the most critical factors for economic development of a country particularly for the capital scarce countries like the developing and the under developed countries. The rush for foreign direct investments have led to intense competition between the countries treaties to attract foreign investments by entering into alluring Bilateral Investment Treaties (BITs). The Bilateral Investment Treaties are the intergovernmental legal framework for the promotion of private investments from one country to other. With more than 3000 BITs, the web of such BITs are the most dominant development of International Law in the post cold war era. The essence of all these BITs are bilateral cooperation for economic development and thus it is actually the theme of economic development around which the International Law had developed most dominantly in the post cold war era. Within the framework of two generally accepted premises that foreign direct investments are critical for economic development and the bilateral investment treaties are critical for promotion of foreign direct investments, the research paper seeks to explore the perspectives and paradigms on economic development as embodied in various Bilateral Investment Treaties. It seeks to address how and in what manners the perspectives on economic development as embodied in bilateral investment varies between the developed, developing and underdeveloped countries. It goes without saying that economic development is a very broad, complex and operationally intricate concept. In the paradigm of International Law it becomes much more complex and intricate. Understanding the concept of economic development from the perspectives of Bilateral Investment Treaties is a novel idea with far reaching significance. Such a perspective on economic development would help in enriching the contemporary International Law perspectives and paradigms on economic development.

Keywords: bilateral investment treaties, economic development, international Law, perspectives

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Authors: Jayasiler Kunasagaram

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In power generation, coal fineness is crucial to maintain flame stability, ensure combustion efficiency, and lower emissions to the environment. In order for the pulverized coal to react effectively in the boiler furnace, the size of coal particles needs to be at least 70% finer than 74 μm. This paper presents the experiment results of coal fineness, air fuel ratio and fuel weight distribution in pulverized fuel pipes at classifier vane 40%. The aim of this experiment is to extract the pulverized coal is kinetically and investigate the data accordingly. Dirty air velocity, coal sample extraction, and coal sieving experiments were performed to measure coal fineness. The experiment results show that required coal fineness can be achieved at 40 % classifier vane. However, this does not surpass the desired value by a great margin.

Keywords: coal power, emissions, isokinetic sampling, power generation

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Authors: T. O Babarinde, F. A Oyawale, O. S Ohunakin, R. O Ohunakin, R. O Leramo D.S Adelekan

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This paper presents an experimental study of R600a, environment-friendly refrigerants with low global warming potential (GWP), zero ozone depletion potential (ODP), as a substitute for R134a in domestic refrigerator. A refrigerator designed to work with R134a was used for this experiment, the capillary for this experiment was not varied at anytime during the experiment. 40, 60, 80g, charge of R600a were tested against 100 g of R134a under the designed capillary length of the refrigerator, and the performance using R600a was evaluated and compared with its performance when R134a was used. The results obtained showed that the design temperature and pull-down time set by International Standard Organisation (ISO) for small refrigerator was achieved using both 80g of R600a and 100g of R134a but R134a has earlier pulled down time than using R600a. The average coefficient of performance (COP) obtained using R600a is 17.7% higher than that of R134a while the average power consumption is 42.5 % lower than R134a, which shows that R600a can be used as replacement for R134a in domestic refrigerator without necessarily need to modified the capillary.

Keywords: domestic refrigerator, experimental, R600a, R134a

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Authors: V. Benidze

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After the Rose Revolution of 2003, Georgia has achieved an unparalleled socioeconomic success. However, economic growth since 2012 has been sluggish and certainly not enough to rapidly improve the county’s standard of living that still remains substantially low compared to that in developed nations. Recent poor economic performance has shown that some key challenges need to be addressed if Georgia is to achieve high future economic growth that will decrease the poverty rate and create a middle class in the country. This paper offers in detail analysis of the economic performance of Georgia since 2012 and identifies key challenges facing the country’s economy. The main challenge going forward will be transforming Georgia from a consumption-driven to a production-oriented economy. It is identified that mobilizing domestic investment through savings, attracting foreign investment in tradable sectors and expanding the country’s export base will be crucial in the facilitation of the above-mentioned structural transformation. As the outcome of the research, the paper suggests a strategy for accelerating Georgia’ future economic growth and offers recommendations based on the relevant conclusions.

Keywords: challenges, development, economic growth, economic policy, Georgia

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Authors: Yizhi Zhang, Xiaozan Wang, Mingming Guo, Pengpeng Li

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Introduction: The purpose of this study is to examine the effectiveness of after-school football training in improving the physical fitness of primary school students, so as to provide corresponding suggestions for carrying out after-school football training in primary schools. Methods: A total of 72 students from the experimental primary school of Mouping district, Yantai city, Shandong province, participated in this experiment. The experiment was conducted for two semesters. During the experiment period, the experimental group conducted one-hour football training after school from Monday to Thursday afternoon every week, and two hours of football training on Saturday morning every week. The control group conducted sports teaching and extracurricular activities as usual without other intervention. Before and after the experiment, both the experimental group and the control group underwent physical fitness tests according to the physical fitness test standards of Chinese students, including lung capacity, 50-meter run, one-minute skipping rope, sitting forward flexor, and one-minute sit-ups. The test results were all converted to the 100-point system according to the scoring standards. Results: (1) Before the experiment, there was no significant difference between the experimental group and the control group in various physical fitness indicators (p > 0.05). (2) After the experiment, the lung capacity score (T = 3.108, p < 0.05), the 50-meter run score (T = 6.593, p < 0.05), the skipping score (T = 9.227, p < 0.05), the sitting forward flexor score (T = 3.742, p < 0.05), and the sit-up score (T = 5.210, p < 0.05) of the experimental group were significantly higher than that of the control group. Conclusion: This study shows that the physical fitness of primary school students can be improved by football training in their spare time. It is suggested to carry out after-school football training activities in primary schools so as to effectively improve the physical fitness of pupils.

Keywords: after-school football training, physical fitness, primary school students, school sports

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Authors: Aimilia Vlami

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This paper examines the tourist economic development of Greece on the basis of the analysis of the main characteristics of the financing and development processes and the spatial and temporal structure of supply and demand. Taking into consideration the evolution of the economic planning and the policy for the tourist development of Greece over time, we study at the same time: the composition, the changes and the dynamics of the hotel industry in the last 20 years and especially the period of the economic adjustment programmes, where tourism has become a key pillar of development. It is clearly evident that this paper is written in a specific economic situation, which directs as much the emphases as the flow of arguments around the central question of balance of interventions in the tourist space, between the need for planning and practice of policy for sustainable tourist growth and in the de facto adaptation of fragmentary and urgent interventions of shaping and transforming the tourist space, as they are shaped by the requirements of various institutions and interest groups.

Keywords: development, Greece, hospitality, economic policy, tourism investments

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Authors: Kai-Fen Tu, Jenn-Wen Huang, Yao-Tung Lin

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Cucumber is a major economic crop in the world. The global production of cucumber in 2017 was more than 71 million tonnes. Nonetheless, downy mildew, caused by Pseudoperonospora cubensis, is a devastating and common disease on cucumber in around 80 countries and causes severe economic losses. The long-term usage of fungicide also leads to the occurrence of fungicide resistance and decreases host resistance. In this study, six types of oil (neem oil, moringa oil, soybean oil, cinnamon oil, clove oil, and camellia oil) were selected to synthesize micro/nano-sized emulsions, and the disease control efficacy of micro/nano-sized emulsions were evaluated. Moreover, oil concentrations (0.125% - 1%) and droplet size of emulsion were studied. Results showed cinnamon-type emulsion had the best efficacy among these oils. The disease control efficacy of these emulsions increased as the oil concentration increased. Both disease incidence and disease severity were measured by detached leaf and pot experiment, respectively. For the droplet size effect, results showed that the 114 nm of droplet size synthesized by 0.25% cinnamon oil emulsion had the lowest disease incidence (6.67%) and lowest disease severity (33.33%). The release of zoospore was inhibited (5.33%), and the sporangia germination was damaged. These results suggest that cinnamon oil emulsion will be a valuable and environmentally friendly alternative to control cucumber downy mildew. The economic loss caused by plant disease could also be reduced.

Keywords: downy mildew, emulsion, oil droplet size, plant protectant

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Authors: Abubakar O. Sulaiman

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Agriculture was the main stay of Nigeria’s economy before the oil boom of the 1970s caused a gradual but steady shift from agriculture to crude oil as the major source of revenue and foreign exchange. The economy later experienced many symptoms of the 'Dutch disease', with exchange rate appreciation and erosion of competitiveness of the non-oil tradable goods. In order to reverse the worsening economic situations -high unemployment, galloping inflation, deteriorating balance of payment, declining economic growth, and fiscal deficits among others- the government, embarked on austerity measures in 1982 and Structure Adjustment Programme (SAP) in 1986. One of the cornerstones of SAP is the diversification of the economy from oil to non-oil. In the form of stocktaking, this paper investigates the impact of non-oil revenue on economic growth in Nigeria using quarterly time-series data from 1980 to 2019. The findings revealed that a long-run relationship exists between the variables (non-oil variables) and economic growth in Nigeria. Among the variables, (agriculture revenue, manufacturing revenue, revenue from services, and company income tax) contributed substantially to economic growth. The paper recommends that the government should continue to intensify efforts and policies in the diversification of the economy as it will bring about sustainable non-oil revenue and economic growth.

Keywords: non-oil revenue, economic growth, export, long run relationship

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Authors: Ida Bagus Ilham Malik, Bart Julian Dewancker

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The road construction will affect the development of the region along the new road. With this principle, the government developed Antasari Street in order to become one of the main economic corridors for the city of Bandar Lampung. Since its construction in 1997, Antasari Street developed into one of the main economic corridors that greatly affect the economic condition of the city, in addition to other economic corridors such as Pagar Alam Street and Teuku Umar Street. The data shows that the construction of roads affects economic development in the corridor that with the advent of commercial buildings in large quantities. Among them are shops, office, restaurants, and a car showroom. This study proves that the road construction could accelerate the economic progress of the road corridor, especially in the construction and development of urban roads.

Keywords: road development, commercial area, Antasari street, Bandar Lampung

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Authors: Marula Tsagkari

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Greece finds itself in challenging times, facing a severe economic slowdown since 2009. Despite the fact that Greece is in the epicenter of the global interest, to the best of our knowledge there is no extend research on how the crisis has affected the Greek environment (directly and indirectly), the past years. Thus, the present study aims to fill the aforementioned research gap by examining a number of environmental indicators related with air emissions, waste, water and energy. Our results indicate that the crisis affected the Greek environment in both positive and negative ways. For Greece, the main challenge is to recover from the present economic recession as soon as possible, but not at any cost to the environment. In this context, this research unfolds the interrelation between the economic and the environmental crisis and suggests a sustainable restructuring of the Greek economy.

Keywords: Greece, economic crisis, environmental policy, environmental indicators

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Authors: Wenjuan Lu

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China and Hungary have risen from a friendly and comprehensive cooperative relationship to a comprehensive strategic partnership in recent years, and the economic and trade relations between the two countries have developed smoothly. As an important country along the ‘Belt and Road’, Hungary and China have strong economic complementarities and have unique advantages in carrying China's industrial transfer and economic transformation and development. The construction of the China-Hungary Economic and Trade Cooperation Zone, which was initiated by the ‘Sino-Hungarian Borsod Industrial Zone’ and the ‘Hungarian Central European Trade and Logistics Cooperation Park’ has promoted infrastructure construction, optimized production capacity, promoted industrial restructuring, and formed brand and agglomeration effects. Enhancing the influence of Chinese companies in the European market has also promoted economic development in Hungary and even in Central and Eastern Europe. However, as the China-Hungary Economic and Trade Cooperation Zone is still in its infancy, there are still shortcomings such as small scale, single function, and no prominent platform. In the future, based on the needs of China's cooperation with ‘17+1’ and China-Hungary cooperation, on the basis of appropriately expanding the scale of economic and trade cooperation zones and appropriately increasing the number of economic and trade cooperation zones, it is better to focus on optimizing and adjusting its functions and highlighting different economic and trade cooperation. The differentiated function of the trade zones strengthens the multi-faceted cooperation of economic and trade cooperation zones and highlights its role as a platform for cooperation in information, capital, and services.

Keywords: ‘One Belt, One Road’ Initiative, China-Hungary economic and trade cooperation zone, function optimization, Central and Eastern Europe

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Authors: Okwan Frank

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Maternal health outcome is one of the major population development challenges in Sub-Saharan Africa. The region has the highest maternal mortality ratio, despite the progressive economic growth in the region during the global economic crisis. It has been hypothesized that increase in economic growth will reduce the level of maternal mortality. The purpose of this study is to investigate the existence of the negative relationship between health outcome proxy by maternal mortality ratio and economic growth in Sub-Saharan Africa. The study used the Pooled Mean Group estimator of ARDL Autoregressive Distributed Lag (ARDL) and the Kao test for cointegration to examine the short-run and long-run relationship between maternal mortality and economic growth. The results of the cointegration test showed the existence of a long-run relationship between the variables considered for the study. The long-run result of the Pooled Mean group estimates confirmed the hypothesis of an inverse relationship between maternal health outcome proxy by maternal mortality ratio and economic growth proxy by Gross Domestic Product (GDP) per capita. Thus increasing economic growth by investing in the health care systems to reduce pregnancy and childbirth complications will help reduce maternal mortality in the sub-region.

Keywords: economic growth, maternal mortality, pool mean group, Sub-Saharan Africa

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Authors: I. C. Tolias, A. G. Venetsanos, N. Markatos

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In the present work, CFD simulations of a large scale open deflagration experiment are performed. Stoichiometric hydrogen-air mixture occupies a 20 m hemisphere. Two combustion models are compared and are evaluated against the experiment. The Eddy Dissipation Model and a Multi-physics combustion model which is based on Yakhot’s equation for the turbulent flame speed. The values of models’ critical parameters are investigated. The effect of the turbulence model is also examined. k-ε model and LES approach were tested.

Keywords: CFD, deflagration, hydrogen, combustion model

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Authors: Kunihiro Kamataki

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In this study, active learning based on simple science experiments was developed in a university class of the freshman, in order to improve their scientific literacy. Through the active learning based on simple experiments of generation of cloud in a plastic bottle, students increased the interest in the global atmospheric problem and were able to discuss and find solutions about this problem positively from various viewpoints of the science technology, the politics, the economy, the diplomacy and the relations among nations. The results of their questionnaires and free descriptions of this class indicate that they improve the scientific literacy and motivations of other classroom lectures to acquire knowledge. It is thus suggested that the science experiment is strong tool to improve their intellectual curiosity rapidly and the connections that link the impression of science experiment and their interest of the social problem is very important to enhance their learning effect in this education.

Keywords: active learning, scientific literacy, simple scientific experiment, university education

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Authors: M. Fems Kurotimi, Agada Franklin, Godsave Aladei, Opigo Helen

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Within the last 30 years, entrepreneurship education (EE) has continued to gain massive interest both in the field of research and among policy makers. This surge in interest can be attributed to the perceived importance EE plays in the equipping of potential entrepreneurs and as a 21^st century strategy to foster economic growth and development. This paper sets out to ascertain the correlation between EE and economic growth and development. A desk research approach was adopted where a multiplicity of literatures in the field were studied intensely. The findings reveal that indeed EE has a positive effect on entrepreneurship engagement thereby fostering economic growth and development. However, some research studies reported the contrary. That although EE may be able to equip potential entrepreneurs with requisite entrepreneurial skills and competencies, it will only be successful in producing entrepreneurs if they are internally driven to become entrepreneurs, because we cannot make people what they are not. The findings also reveal that countries that adopted EE early have more innovations inspired by entrepreneurs and are more developed than those that only recently adopted EE as a viable tool for entrepreneurship and economic development.

Keywords: entrepreneurship, entrepreneurship education, economic development, economic growth, sustainable development

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Authors: Mohsin Reza, Thirunaukarasu Subramaniam, M. Rezaul Islam

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In Asia, economic and social well-being issues are rarely addressed. The major characteristics of the migrant workers in Asian countries are seriously exploited, marginalized, and infrequently looked from human rights perspective. This paper explored the opportunities and shortages of economic and social well-being for the migrant workers in Asia. A Qualitative Interpretative Meta-Synthesis (QIMS) was conducted to analyze the contextual socio-economic factors that characterized migrant workers’ economic and social well-being. It is perceived that in most of the recruiting countries, there are lacks of government commitments to the international protocols, conventions and laws that they ratified towards safeguarding migrant workers’ economic and social well-being. Results showed that the migrant workers had lack of job security, poor salary, long working hours, low access to the public services, poor health, poor living and working conditions, lack of legal rights, physical and mental threats. The finding would be important guideline to the governments, policy makers, legal rights practitioners, and human rights organizations.

Keywords: Asia, economic well-being, social well-being, migrant workers, human rights

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Authors: Young Sik Kim, Tae Kwon Ha

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This article considers the problems of economic growth and Russian energy strategy. Also in this paper, the issues related to the economic growth prospects of Russian were discussed. Russian energy strategy without standing Russia`s stature in global energy markets, at the current production and extraction rates, will not be able to sustain its own production as well as fulfil its energy strategy. Indeed, Russia’s energy sector suffers from a chronic lack of investments which are necessary to modernize its energy supply system. In recent years, especially since the international financial crisis, Russia-EU energy cooperation has made substantive progress. Recently the break-through progress has been made, resulting mainly from long-term contributing factors between the countries and recent international economic and political situation changes. Analytical material presented in the article is intended for a more detailed or substantive analysis related to foreign economic relations of the countries and Russia as well.

Keywords: Russia, energy strategy, economic growth, cooperation

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Authors: Mutaju Marobhe, Pastory Dickson

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This study explores the role of Foreign Direct Investment (FDI) in stimulating economic growth of emerging economies. FDIs have been associated with higher economic growth rates in developed countries due to the presence of conducive business conditions e.g. advanced financial markets which may accelerate the rate at which FDI boosts economic growth. So this study sets out to evaluate this macroeconomic phenomenon in emerging economies using the case study of Southern Africa Development Community (SADC) countries. The study uses Ease of Doing Business Index as a variable that moderates the relationship between FDI and economic growth. Panel data ranging from 2010 to 2019 from all SADC members are used and due to the unbalanced nature of the data, fixed effects regression analysis with moderation effect is used to assess this phenomenon. The conclusions and recommendations generated by this study will enable emerging economies to depict how they can be able to significantly improve FDI’s role in accelerating economic growth similarly to developed economies.

Keywords: ease of doing business, economic growth, emerging economies, foreign direct investment

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Authors: Henrique Alpalhão

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This paper attempts to model the widely studied relationship between a country's economic growth and its level of democracy, with an emphasis on possible non-linearities. We adopt the concept of 'political capital' as a measure of democracy, which is extremely uncommon in the literature and brings considerable advantages both in terms of dynamic considerations and plausibility. While the literature is not consensual on this matter, we obtain, via panel Arellano-Bond regression analysis on a database of more than 60 countries over 50 years, significant and robust results that indicate that the impact of democratization on economic growth varies according to the stage of democratic development each country is in.

Keywords: democracy, economic growth, political capital, political economy

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Authors: Etsuo Morishita

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This paper presents the project and experiment-based fluid dynamics education in Meisei University, a private institution in Tokyo, Japan. We pay attention not only to the basic engineering courses but also to the practical aspect of engineering experience. So, we prepare courses called the Projects from I to VI. The Projects I and II are designed for the first year, III and IV are designated for the second year, V and VI are prepared for the third year, respectively. Each supervisor is responsible for two of these projects every year. When students take the Project V and VI at the third year, we automatically assume that these students will join the lab of the project for the graduation thesis. We would like to show our experience in the Project I in the summer term, 2016. In this project, we introduce a traction flight vehicle called Cat Flyer. This is a kind of a kite towed by a car for example. This is very similar to parasailing, but flight is possible even on the roads. Experiments in mechanical engineering education are also very important, and we would like to explain our course on centrifugal pump, venture, and orifice. Although these are described in detail in the text books of fluid dynamics, it is still crucial to have practical experiments as a student.

Keywords: aerodynamics, experiment, fluid dynamics, project

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Authors: Bubaker F. Shareia, Almuetaz R. Boubakr

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The aim of this paper is to show how Libya’s legal, economic, political, social, and cultural systems have shaped Libyan development. This will provide a background to develop an understanding of the current role of the accounting information system in Libya and the challenges facing the design of the aeronautical information system to meet the development needs of Libya. Our knowledge of the unified economic operating systems of the world paves the way for the economic development of every developing country. In order to achieve this understanding, every developing country should be provided with a high-efficiency communications system in order to be able to interact globally. From the point of view of the theory of globalization, Libya's understanding of its socio-economic and political systems is vital in order to be able to adopt and apply accounting techniques that will assist in the economic development of Libya.

Keywords: accounting, economic development, globalisation theory, information system

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Authors: Burcu Guvenek, Volkan Alptekin

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Turkey is a country in the process of development and its economy has undergone structural reforms in order to realize a sustainable development and energy has vital role as a basic input for this aim. Turkey has been in the process of economic growth and development and, because of this, has an increasing energy need. This paper investigates relationship between economic growth and electricity consumption using annual data for Turkey between 1970-2008 by using bounds test. As economic growth and energy consumption variables used in empirical analysis was different order of integration I(0) and I(1), we employed bounds test approach. We have not found co-integration relationship between the variables.

Keywords: bounds test, economic growth, energy consumption, Turkey

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Authors: Mohammad Reza Fooladi

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The patent system which fits with industrial and economic situation in the country, by strengthening research and development, technology transfer and increasing foreign investment can provide economic and industrial growth of the countries. However, the extent and manner of support should be commensurate with the country's conditions and comply with significant rules to have a positive effect on research and development, technology transfer and the amount of foreign investment. The present article tries to while reviewing the state of effectiveness of the patent system on economic growth, to illustrate the characteristics of the patent system fits Afghanistan and according to this matter provide the necessary recommendations about the improvement of laws and regulations related to the patent in Afghanistan.

Keywords: patent, economic growth, technology transfer, Afghanistan

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Authors: Fatima Chaudhary, Rehan Ul Haq

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Spatial and anthropogenic factors influencing nest-site selection in birds need to be identified for effective conservative practices. Environmental attributes such as food availability, predator density, previous reproductive success, etc., provide information regarding the site's quality. An artificial nest box experiment was carried out to evaluate the effect of various factors on nest-site selection, as it is hard to assess the natural cavities. The experiment was conducted whereby half of the boxes were filled with old nest material. Artificial nest boxes created with different materials and different sizes and colors were installed at different heights. A total of 14 out of 60 nest boxes were occupied and four of them faced predation. The birds explored a total of 32 out of 60 nests, whereas anthropogenic factors destroyed 25 out of 60 nests. Birds chose empty nest boxes at higher rates however, there was no obvious avoidance of sites having high ectoparasites load due to old nest material. It is also possible that the preference towards the artificial nest boxes may differ from year to year because of several climatic factors and the age of old nest material affecting the parasite's survival. These variables may fluctuate from one season to another. Considering these factors, nest-site selection experiments concerning the effectiveness of artificial nest boxes should be carried out over several successive seasons. This topic may stimulate further studies, which could lead to a fully understanding the birds' evolutionary ecology. Precise information on these factors influencing nest-site selection can be essential from an economic point of view as well.

Keywords: artificial nesting, nest box, old nest material, birds

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Authors: Michele Sinico

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In the Giovanelli illusion, some collinear dots appear misaligned, when each dot lies within a circle and the circles are not collinear. In this illusion, the role of the frame of reference, determined by the circles, is considered a crucial factor. Three experiments were carried out to study the influence of directionality of the circles on the misalignment. The adjustment method was used. Participants changed the orthogonal position of each dot, from the left to the right of the sequence, until a collinear sequence of dots was achieved. The first experiment verified the illusory effect of the misalignment. In the second experiment, the influence of two different directionalities of the circles (-0.58° and +0.58°) on the misalignment was tested. The results show an over-normalization on the sequences of the dots. The third experiment tested the misalignment of the dots without any inclination of the sequence of circles (0°). Only a local illusory effect was found. These results demonstrate that the directionality of the circles, as a global factor, can increase the misalignment. The findings also indicate that directionality and the frame of reference are independent factors in explaining the Giovanelli illusion.

Keywords: Giovannelli illusion, visual illusion, directionality, misalignment, the frame of reference

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Authors: Shamraiz Ahmad, Riaz Ahmad, Adnan Maqsood

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This paper describes the application of 2k-design of experiment in order to screen the geometric parameters and experimental refinement of ceiling fan blades. The ratio of the air delivery to the power consumed is commonly known as service value (SV) in ceiling fan designer’s community. Service value was considered as the response for 56 inch ceiling fan and four geometric parameters (bend position at root, bend position at tip, bent angle at root and bent angle at tip) of blade were analyzed. With two levels, the 4-design parameters along with their eleven interactions were studied and design of experiment was employed for experimental arrangement. Blade manufacturing and testing were done in a medium scale enterprise. The objective was achieved and service value of ceiling fan was increased by 10.4 % without increasing the cost of production and manufacturing system. Experiments were designed and results were analyzed using Minitab® 16 software package.

Keywords: parametric screening, 2k-design of experiment, ceiling fan, service value, performance improvement

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Authors: Khalid Ishola Bello

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No condition is permanent in life. This phenomenon is more evident in the socio-economic and political life of man regardless of race, colour or religious affiliation. As the economy of an individual or nation stands to be favourable at one time, it may also experience decline and become unbearable at another time. Muslims, towards the third decade of Islam, experienced economic hardship due to some natural and artificial factors. The recession, which lasted for four years, was rescued by different approaches, and economic prosperity was later regained. Some years ago, Nigeria was drastically affected by an economic recession characterized by high rates of unemployment, illiquidity and inflation, which have caused depression to many individuals and organizations. It is the aim of this paper to look into the causes and remedies of the recession in that early period of Islam in order to suggest a way out of the unfriendly economic situation of Nigeria. An analytical method is adopted to draw some lessons from the situation of Muslims of that time to address the current economic challenges in Nigeria. Though Nigeria is not under any natural disaster, the causes seem to be a deliberate reaction of some Nigerians against the government's attempts to curb corruption at all costs and lapses in some government policies.

Keywords: recession, hardship, spiritual, lessons, early period of Islam

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Authors: Dejene Gizaw Kidane

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This study examines the impact of foreign direct investment on economic growth of Ethiopia using yearly time-series data for 1974 through 2013. Economic growth is proxies by real per capita gross domestic product and foreign direct investment proxies by the inflow of foreign direct investment. Other control variables such as gross domestic saving, trade, government consumption and inflation has been incorporated. In order to fully account for feedbacks, a vector autoregressive model is utilized. The results show that there is a stable, long-run relationship between foreign direct investment and economic growth. The variance decomposition results show that the main sources of Ethiopia economic growth variations are due largely own shocks. The pairwise Granger causality results show that there is a unidirectional causality that runs from FDI to economic growth of Ethiopia. Hence, the researcher therefore recommends that, FDI facilitate economic growth, so the government has to exert much effort in order to attract more FDI into the country.

Keywords: real per capita GDP, FDI, co-integration, VECM, Granger causality

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Authors: Renuka Mahadevan, Sharon Chang

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This exploratory study is based on potential cruisers’ monetary valuation of cruise attributes. Using choice experiment, monetary trade-offs between four different cruise attributes are examined with Australians as a case study. We found 50% of the sample valued variety of onboard cruise activities the least while 30% were willing to pay A$87 for cruise-organised activities per day, and the remaining 20% regarded an ocean view to be most valuable at A$125. Latent class modelling was then applied and results revealed that potential cruisers’ valuation of the attributes can be used to segment the market into adventurers, budget conscious and comfort lovers. Evidence showed that socio demographics are not as insightful as lifestyle preferences in developing cruise packages and pricing that would appeal to potential cruisers. Marketing also needs to counter the mindset of potential cruisers’ belief that cruises are often costly and that cruising can be done later in life.

Keywords: latent class modelling, choice experiment, potential cruisers, market segmentation, willingness to pay

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Authors: Won Il Jung, Gene Lee, Luis Rabelo

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Since many weapon systems are getting more complex and diverse, various problems occur in terms of the acquisition cost, time, and performance limitation. As a matter of fact, the experiment execution in real world is costly, dangerous, and time-consuming to obtain Required Operational Characteristics (ROC) for a new weapon acquisition although enhancing the fidelity of experiment results. Also, until presently most of the research contained a large amount of assumptions so therefore a bias is present in the experiment results. At this moment, the new methodology is proposed to solve these problems without a variety of assumptions. ROC of the new weapon system is developed through the new methodology, which is a way to analyze big data generated by simulating various scenarios based on virtual and constructive models which are involving 6 Degrees of Freedom (6DoF). The new methodology enables us to identify unbiased ROC on new weapons by reducing assumptions and provide support in terms of the optimal weapon systems acquisition.

Keywords: big data, required operational characteristics (ROC), virtual and constructive models, weapon acquisition

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