Difference Between Economic Growth and Economic Development Essay Example for Free

Difference Between Economic Growth and Economic Development Essay Economic Growth is a narrower concept than economic development.It is an increase in a countrys real level of national output which can be caused by an increase in the quality of resources (by education etc.), increase in the quantity of resources improvements in technology or in another way an increase in the value of goods and services produced by every sector of the economy. Economic Growth can be measured by an increase in a countrys GDP (gross domestic product). Economic development is a normative concept i.e. it applies in the context of peoples sense of morality (right and wrong, good and bad). The definition of economic development given by Michael Todaro is an increase in living standards, improvement in self-esteem needs and freedom from oppression as well as a greater choice. The most accurate method of measuring development is the Human Development Index which takes into account the literacy rates life expectancy which affect productivity and could lead to Economic Growth. It also leads to the creation of more opportunities in the sectors of education, healthcare, employment and the conservation of the environment.It implies an increase in the per capita income of every citizen. Economic Growth does not take into account the size of the informal economy. The informal economy is also known as the black economy which is unrecorded economic activity. Development alleviates people from low standards of living into proper employment with suitable shelter. Economic Growth does not take into account the depletion of natural resources which might lead to pollution, congestion disease. Development however is concerned with sustainability which means meeting the needs of the present without compromising future needs. These environmental effects are becoming more of a problem for Governments now that the pressure has increased on them due to Global warming. Economic growth is a necessary but not sufficient condition of economic development.

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As of September 2012, the number of states and school districts requiring online courses for high school graduation has increased, as states seek to teach students how to manage in an increasingly digital world. In April 2006, Michigan became the first state to require online learning as a requirement for high school graduation. Since that time Alabama, Arkansas, Florida, and Virginia have legislated requirements. Georgia, New Mexico, and West Virginia recommend students experience an online learning course before graduating from high school; however, it is not required. Arizona, Florida, Georgia, Louisiana, Michigan, Minnesota, and Utah allow students to choose online courses from multiple accredited online providers. Some local school boards in districts across the country have promoted similar graduation requirements, including Marietta City Schools in Georgia, Memphis City Schools and Putnam County Schools in Tennessee, and the Kenosha and Cedarburg School Districts in Wisconsin. Education leaders in these states and districts believe that requiring online courses as a requirement for graduation is a necessary step toward becoming college and/or career ready, because when a student graduates from high school, whether choosing a two-year or four-year college, or entering the workforce, there is the likelihood of taking an online course. According to the Education Commission of the States, most virtual offerings are at the high school level. Students taking individual online courses are much more common than are students attending fully-virtual secondary institutions. According to Market Data Retrieval, 15% of American high schools provide online courses; some states, districts and universities host virtual high schools. In O... ...chools and parish-based Catechism courses. Catholic Online Education Providers Edified Online partners with Catholic schools worldwide to provide online education resources and course offerings that exceed national standards and expectations. Edified has more than 80 online courses available for grades 6-12, including College Board certified AP courses. Edified Online is endorsed by the NCEA. Catholic Schools K12 Virtual is an online school comprised of resources, academic, elective and religion classes for Catholic school students. Working with a number of experts in the field of online education, Catholic Schools K12 Virtual has developed a two tiered model for online education; the virtual class and the digital classroom, blending traditional education and online learning. Costs for an online course, depending on its length, range from $300 to $700 per course.

Pick Your Family Essay

The dictionary definition of family is: all the descendants of a common ancestor. Although this statement is true, some would disagree and say that the meaning to the word â€Å"family† goes far beyond that simple definition. Many people consider friends, schoolmates, animals, friends of a parent, and co-workers to be their family as well. Your whole family can be made up of many people that are not necessarily your real family. The relationship you share with another individual classifies them as a family member. These people may not be your relative at all, but someone you feel a strong connection to for one reason or another. Just because someone is your family member by blood, does not mean you have to have a close relationship with him or her. Your family can be extended from your nuclear family because another person may be very special to you, or makes you feel loved enough that you would consider them a part of your family. Children that lose their mother and father might have someone take care of them that are not blood related. In a situation like this, the child’s real family is not apart of the family that raises them and takes care of them. Family is more of a concept and more about the relationship that the two people share. In a case where parents have died or some other circumstance has arisen where they cannot provide for their child, strangers or friends may assist in raising that child. That would make them the caregivers; they would be the mother and father because they fill that role in the child’s life. Many people may say they have two mothers, this is because they have two people that fill the motherly role in their life and both of those people make them feel loved and appreciated. Another example where your family might not be your real relatives is godmothers or your godfathers. Your godmother or godfather can be anyone that your parents think can and will fill that role best. This may be your blood related uncle or the best man in your parents wedding. Regardless of the blood relation this person is in now classified as your family member. Family can also expand to include more than just humans as well. Most Americans have a pet dog or a pet cat that is considered a part of their family. It is very common in a household environment that animals are added to the mix. Whether it is a family of four wanting to add extra love in their lives, or a lonely college student looking for a companion. Many people add a pet into their homes to love and feel love in return. One might think this classifies that animal as a family member. Animals and humans can share a very special relationship, just like family members share. This special relationship is what makes someone or something a part of your family not just blood. Some people may have very special experiences with another individual. Growing up with a particular friend and experiencing many of life’s challenges and tribulations can make a relationship grow very strong. People that have been there for another person through tragedies, deaths, illness, hardships and times of celebration share special bonds. These people may refer to each other as brothers or sisters or second daughters or sons. It is the many experiences and the compassion and empathy that people share with one another that make them feel that closeness with one another. They will often refer to these special people as â€Å"family members†, although they have no blood relation. Many people that are not your real relatives can be more like your family than your real family. There are many reasons that families break up, or do not speak any longer. Death, distance, past arguments and sickness can all be some reasons why you are not close to your blood family. Most people know of someone who may no longer speak to their mother, father, sister, or brother; this kind of thing happens all the time. This is very common after a parent’s death, and the children have to disperse the parent’s valuables. You can’t pick your family, but you can pick your friends. Sometimes those friends treat you better than your own family. They’re a surplus of people that might fill a particular role better than others, and the relationship you share with them is what defines them as your family member.

Alexander The Great The Greatest Leader Essay - 2119 Words

Alexander the Great: The Great Commander How great was Alexander the Great? Even though he had a short reign, dying at the age of 32, Alexander of Macedonia accomplished a lot for his beloved people, truly earning the title of â€Å"The Great†. Seizing the throne at the age of 19, after his father died, Alexander quickly won over the army within days allowing him to conquer more than he ever dreamed of. He was known as one of the most successful military commanders in ancient history, conquering most of the well-known world before his death. He was able to quickly take over not only the city states within Greece but also southwest Asia and Babylon. Historians considered Alexander as one of the history’s best leaders for many reasons, principals among which were his most well-known accomplishments were his reformation of Greek society, his rapid establishment of an e1mpire, and his leadership of a powerful military. Alexander’s future success as a military commander can be attributed to the military and educational training he received as the son of Macedonia King Phillip II. When Alexander the Great came into power he quickly built an empire and military strong enough for praise from his fellow civilians. He came into power effortlessly due to his father’s sudden passing, that many believed was planned by Alexander himself, making him become king at a primary age. After his father passing, he ended up conquering tremendous amount of land in a short amount of time due to hisShow MoreRelatedAlexander The Great Was The Greatest War Leader, Genius, And Ruler Essay1767 Words   |  8 PagesThroughout history, Alexander III of Macedon, commonly referred to as Alexander the Great throughout history, has been thought of by many to be an enlightened thinker, multiculturalist, an ambitious, egotistical tyrant, and conqueror through evidence recorded, and passed along through generations. It is arguable, through evidence, that Alexander the Great was the most successful, greatest war leader, genius, and ruler there ever was. Many argue that he took over different pieces of land for theRead MoreHayden Hawkinson . Mrs. Heflin. English 6 - 6. March 2,1143 Words   |  5 Pages- 6 March 2, 2017 Alexander the Great â€Å"I am not afraid of an army of lions led by a sheep; I am afraid of an army of sheep led by a lion.† Alexander the Great is the smartest and fiercest military leader that has ever lived. His military wisdom and fierceness led him to being a great leader of Greece, conquering all of Asia Minor, conquering the Persian empire, and ruling the biggest empire the world had ever seen before 334 BC. This led him to being a great Greek leader, being a fierce conquerorRead MoreEssay on Compare/Contrast Julius Caesar to Alexander the Great1013 Words   |  5 Pagesrange of great people; two of the most brilliant and influential leaders were Alexander the Great and Julius Caesar. The turning points in history they were involved in were their individual conquests and their unfortunate deaths. Alexanders greatest victory was over the Persians; Caesars greatest victory was his defeat of Pompey. Their actions and beliefs had their influence on their society and society of today. Alexander the Great and Julius Caesar set the standard of what a leader shouldRead MoreQ - Does Alexander the Great deserve to be called the Great?1510 Words   |  7 PagesThe greatness of Alexander III, as he was originally, has been disputed in the past. His legend has survived for thousands of years, and his name is well-known, but just how great was he? In answering this question it is necessary to define the terms deserve and great. For these purposes, to deserve will mean to be worthy of. Great has many meanings, and will be defined as: important; grand; distinguished; remarkable in ability or character; competent; or above what is normal, with implied admirationRead MoreAlexander the Great: Historys Greatest1250 Words   |  5 PagesMacedonia was the birthplace of the greatest man in history: Alexander the Great. Greatness was in his blood, fierceness and bold fighting was only a bit of his entity. Alexander also influenced the world. He died young and for a brief period of twelve years of his life were actually spent engaged in performing the work of his life (Abbot, chapter 1). However, his influence was great and seen throughout history around the globe. Alexander the Great was the greatest in history because he conquered theRead MoreAlexander the Great: Strenghts and Weaknesses as a Person, Statesman and Leader1357 Words   |  6 Pagescenturies, Alexander the Great has held an eminent place in history. Arguably one of the greatest men the world has ever known, the Macedonian King accomplished many great feats in his short, but glorious life. During his reign, Alexander played several roles in the process of conquering the Persian empire, and in the assessment of his character, aspects of Alexanders capabilities of both strengths and weaknesses must be explored in him as a person, a statesman and a leader. Alexander was a complexRead MoreWho Was Alexander The Great?1457 Words   |  6 PagesWho was Alexander the Great? History has recorded that he was a man of many feats. Born in Macedonia he would later become an excellent solder, a great man and an intelligent politician. Many look to him as one of histories greatest leaders and greatest of men. Being the young man he was and the leader of a nation, it brought out a hunger for victory. Shown by his military tactics and the amount territory that he conquered. His wisdom and intelligent mind may have been due to the fact that his mentorRead MoreAlexander the Greats Impact on the World Essays1339 Words   |  6 PagesAlexander the Great is without doubt one of the greatest military leaders of history. Not only did Alexander of Macedon conquer enormous areas of the known world but also he demonstrated dynamic leadership and masterful strategy on a large scale and tactics on the battlefield. During his life, he ruled the largest empire the world had ever seen, which stretched from ancient Greece to India. The son of King Phillip II of Macedon, Alexander was educated by the philosopher Aristotle and first led MacedonianRead MoreWhat Has The History Of Leadership Taught Us?1281 Words   |  6 PagesWhat Has the History of Leadership Taught Us The world has seen many leaders that played a major role in paving the way forward (or backward) for mankind. What separated them from the rest of the field was their vision along with their passion and charisma to inspire and motivate their followers. However, the results of their vision and the long term impact may be a different story altogether. We have seen great leaders like Nelson Mandela and Martin Luther King Jr that inspired millions of peopleRead MoreAlexander the Great Essay 91181 Words   |  5 PagesAlexander the Great Alexander the Great was a king and conqueror. He is commonly referred to as â€Å"the most powerful leader of all time.† What is it that makes him such a powerful leader? What has he accomplished that has made him so significant? Were his accomplishments positive or negative? These are all questions that when combined as one create a debate that has been going on for decades. There are those who admire Alexander’s military achievements and ability to carve out the largest empire

Assasination of Leon Trotsky - 516 Words

The Assassination of Leon Trotsky During the power struggle in Russia, an escaped prisoner of the name Lev Bronstein, was murdered on August 20th, 1940 by Ramon Mercader. Bronstein was a Russian marxist who went against Stalin’s beliefs. He was forced to leave the country by Stalin’s wishes. However, before he left he accomplished many things such as helping the Bolsheviks into power and creating the South Russian Workers Union. Lev Bronstein was born on November 8th, 1879 and grew up in a small town in Yanovka, present day Ukraine. He was the 5th child of a well off Jewish farmer. When Bronstein was 9, he was sent to finish his schooling in Nikolayev. As a teenager he was very interested in socialism and helped create the South Russia Worker’s Union. He was later arrested along with 200 other union workers and was sent to jail for four years. While he was in prison, he married a woman named Aleksandra Soklovskaya and together they had two daughters . He abandoned his wife and kids. He then escaped prison, obtained a forged passport and changed his name to Leon Trotsky. He then moved to London, England where he joined with Lenin and his group of Russian Social Democrats. He began working on a revolutionary newspaper called Iskra. That same year, he met a woman named Natalia Sedova. They married and had two sons together. Later, while Russia was in the middle of a revolution, Trotsky escaped into the capital of Russia and became a spokesperson for the city

Emotional Intelligence And Its Effect On The Job...

Emotional intelligence relates to an individual’s ability to manage their emotions, and is shown to have positive outcomes for an organisation. Manager emotional intelligence is thought to have an effect on the job satisfaction of employees, which could be due to behaviour or leadership styles. It is inconclusive which of these reasons, if any, are the cause of the positive correlation due to the lack of overwhelming support for any one cause and the biases of the studies. Emotional intelligence was referred to by Mayer and Salovey (1997) as a set of abilities to do with understanding, perceiving, appraising, expressing, and regulating emotion (as cited in Das Ali, 2014). An emotionally intelligent manager can understand and react to employee’s emotions as well as use their own to encourage productive behaviour. Goleman (1998) suggests there are four components to emotional intelligence of â€Å"self-awareness, self-regulation, motivation, empathy, and social skill† (as cited in Malos, 2011, p. 210), while Petrides and Furnham (2001) divided emotional intelligence into sociability, emotionality, self-control, wellbeing, and general emotional intelligence (as cited in Webb, 2014). There is an agreement that emotional intelligence is about managing emotions but no definite decision on what it involves. A positive correlation between manager emotional intelligence and employee job satisfaction has been observed (San Lam O’Higgins, 2012; Sy, Tram, O’Hara, 2006), however,Show MoreRelatedDoes Emotional Intelligence Influence Job Satisfaction?1028 Words   |  4 Pagestopic of emotional intelligence (EI) have revealed findings that link EI with higher achievements of individuals. A study done by Carmeli (2009) indicated that emotional intelligence plays a role in the wellbeing of individuals. Specifically, emotional intelligence is suggested to be an important predictor of crucial organizational consequences such as job satisfaction (Daus Ashkanasy, 2005). Gender is another variable that is proposed as having a relationship with the concepts of emotional intelligenceRead MoreA Business Is Like A Living Organism Essay1352 Words   |  6 Pageslevel. Let’s step back and look at the business itself, corporations are practically a legal person. Therefore they have social responsibilities. We call this CSR (Corporate Social Responsibility). â€Å"CSR is good for the planet and good for people. Employees whose personal values fit with the organization’s CSR mission are often more satisfied. (Stephens 2016)†. There are so many things a business can do to improve their public reputation through CSR. â€Å"We are committed to offering high-quality, ethicallyRead MoreEmotional Intelligence Training For Increased Success1351 Words   |  6 PagesEmotional Intelligence Training for Increased Success The global business environment is complex and dynamic. Everyone working in business across the globe is experiencing stress (Singh Sharma, 2012). Due to the quick pace at which decisions may need to be made, understanding the impact of mood and emotions on decision making is important for leaders (Brabec, 2012). Decisions are made at all levels within the organization, therefore emotional intelligence skills are required for everyone withinRead MoreBus 520 Essay1122 Words   |  5 Pagesissues when emotions, job satisfaction, and attitudes of others are involved in decision making. The purpose of this paper is to discuss how Trader Joe’s is able to keep employee job satisfaction and customer satisfaction at a high rate. Throughout this paper, I will discuss the different tools the company uses to promote customer and job satisfaction. Examine the approach Trader Joes uses to promote a positive work environment for its employees. Determine in whichRead MoreManagers Emotional Intelligence Effect On Followers Performance1577 Words   |  7 PagesManager’s Emotional Intelligence Effect on Follower’s Performance Job Satisfaction. Research has shown that leaders who have high levels of emotional intelligence are able to increase the job satisfaction of their workers leading to increase performance. In a study done by Sy, Tram, and O’Hara (2006) of 187 restaurant workers, in which 62 were managers, they investigated the relationship between employees’ emotional intelligence, their manager’s emotional intelligence, employees’ job satisfaction, andRead MorePositive Psychology Has Various Applications In Our Lives.1534 Words   |  7 Pagesfor a living and our jobs play a significant role in our overall happiness and fulfilment of life. What we do for work determines (in a way) who we are, and what we contribute to the world. It only makes sense that we enjoy what we do for 40 hours (or more) in a week. There have been many studies on how aspects of positive psychology being implemented impact organizations and businesses, and how productivity and enjoyment increase w hen there is a positive environment for employees to work in. In theRead MoreTaking a Look at Emotional Intelligence1524 Words   |  6 PagesEmotional intelligence: Modern organizations are confronted with demands and pressure is growing consistently cost -effective education leadership, continues to intrigue researchers and practitioners. Considerable amount of research and attention to emotional intelligence and life, personality, social interaction, teamwork, education and leadership to identify links between social satisfactions has been paid. Today increasingly complex and changing world, researcher’s emphasized need for the newRead MoreEmotional Intelligence and Job Satisfaction: Mediated by Transformational Leadership4222 Words   |  17 PagesJob satisfaction of employees is one of the emerging issues for today’s HR managers based on the strategic link between job satisfaction and employee productivity. Satisfaction of employees is a complex phenomenon as it depends on various factors for employees at different hierarchal level of the enterprise. It is therefore essential for the executives of the organizations to cope wit h this challenge strategically. Job satisfaction concerns with physical as well as psychological aspects of jobsRead MoreEmotional Intelligence, Job Satisfaction, and Job Tenure Among Hotel Managers7445 Words   |  30 Pagestandfonline.com/loi/whrh20 Emotional Intelligence, Job Satisfaction, and Job Tenure among Hotel Managers Kara Wolfe Hyun Jeong Kim a a b Bradley University, Family and Consumer Sciences, Peoria, Illinois, USA b School of Hospitality Business Management, College of Business, Washington State University, Pullman, Washington, USA Published online: 27 Feb 2013. To cite this article: Kara Wolfe Hyun Jeong Kim (2013): Emotional Intelligence, Job Satisfaction, and Job Tenure among Hotel ManagersRead MoreThe Leadership Of Carol Baines1482 Words   |  6 Pagesthat contribute to the continued growth of the business. Finally, it questions whether situational factors had an influence in Carol’s success and whether Carol could succeed as a leader in other business context. Analysis Companies need leaders to effect changes and to improve business performance. Changes are necessary for survival, as competitors might force a company out of business if it chooses to remain stagnant. Leaders could be assigned, with position power, or it could emerge due to needs

Impact of Global Financial Crisis in Australian Property Market

Question: Write an essay on "Impact of global financial crisis in australian property market". Answer: Section: 1 Introduction The global economic crisis took place during the period of 2008 and 2009. This crisis affected most of the countries in the world. The crisis actually started due to loss of confidence of American investors from the value of mortgages because of liquidity crisis. However, the situation worsened when the stock price declined dramatically. The house that was being repossessed by the banks due to loan defaulters, worth less value than the bank loaned out (Scott, 2014). The impact of financial crisis made the situation of developing countries vulnerable. The investors lose severely, mainly those who have invested in the high gearing and ever-growing assets. Superannuation funds have declined by 30 percent to 40 percent of their pre-crisis balances . The impact was not restricted within the finance industries but also had impacts on the several other industries. The property market is one of the major sectors that have undergone severe financial downturn due to the global financial crisis of the period (Murphy, 2011). This industry was influenced worldwide from the perspectives of ownership and investment. It has experienced various levels impact from this crisis. The traditional commercial and industry property industry was severely affected from the perspective of the investors, as the superannuation funds and investment declined significantly. The dependence of property investment and property development on the retail funds led to significant decline in the activity and values of the commercial; industrial and residential property industry. The equity market of Australia also faced crisis like many other countries (Haslam McKenzie Rowley, 2013). The crisis transmitted to Australia rapidly through equity market adjustment. In the initial period, apart from collapsing of hedge funds, the non-banker providing home loans also failed. Prices of the commodities severely fallen due to this credit crunch and every firms and businesses suffered a great loss. The each ph ase of collapse in the US market echoed in Australia. The purpose of the project is to conduct a research proposal regarding the impact of global economic crisis in the property market of Australia. The proposal is centered on analyzing the several effects of this crisis. While analyzing the impacts, it requires stating the problem statement of the research; research objectives. Further, it will also justify the topic chosen for the research and the expected outcome. To identify the impacts, the research requires prior knowledge regarding the topic. Therefore, the proposal will also illustrate the conceptual framework regarding the selected topic and will set research hypothesis. Based on the research questions and the hypothesis, the rest of the research will be conducted. This requires a proper method for the research. Therefore, the proposal will also describe research methodology adopted. Finally, the proposal will describe the organization of the study, presentation of the Gantt chart and the budget required to conduct the proposal . Problem statement The property market has been mounting up from United States; Australia; United Kingdom to China; France and Spain. The rise in property price was rapid since the early 2000, because of the significant demand for the property that has created due to low interest rate for loans and scope of using security (Brown Davis 2010). The borrowers invested on the housing properties whose prices were ever growing and resell those to earn profit to refinance their mortgages. This practice has led to significant fall in the prices of property and it has fallen so much that the borrowers were unable to refinance their mortgages by reselling their property. Their debt became larger than before . In Australia, the low value of the residential property was mitigated by the first time homebuyer grants; stamp duty and reduction in the interest rate (Randolph, Pinnegar Tice, 2013). The financial crisis of 2008- 2009, has crucial impact on the property market of Australia. It has created significant tro uble in the economic activities of the country. However, this country was among the least affected countries. Since the rising price of the property market was due to the low interest rate, the country has raised the interest rate. This has caused the demand for housing to fall and the price level of the housing property market has fallen in this country (Austin, Gurran Whitehead, 2014). However, the reduction in the value of housing was not so drastic like US. Financial market associated with the real estate market causes the loss out of bank loans. However, irrespective of the magnitude of the loss, it is evident that the country has suffered in the sectors like property market due to the global financial crisis. In such scenario, it is important to analyze the activities in the property market of this country. By analyzing the factors behind the changes in the values of the property, it can be evaluated whether the property market was affected and to what extent it was influenced by the global economic crisis. Research Objectives/ Questions The overall objective of the paper is to conduct a research to evaluate the impact of global economic crisis on the Australian Property Market. The precise objectives of the paper are: To evaluate the issues that property market faced due to global economic crisis. To identify the way in which crisis in the financial market channelizes to the real estate market. To recognize factors affecting the property market changes in Australia. To discover the possible methods to overcome the volatility in the real estate market. RQ1: What are the issues faced by the property market due to financial crisis? RQ2: What are the ways in which crisis in the financial market transmitted into decline in the property market? RQ3: What are the factors that affect Australian property market? RQ4: What are the possible methods of overcoming the volatility in the property market in Australia? The proposal has formed these research questions , based on which the rest of the research will be conducted. Justification of the Project Global financial crisis of 2008-2009 is an important economic event that has several impacts on the different market. However, the housing market is a major one as the crisis did start from the increasing demand for the house due to its ever-growing valuation. The crisis generated in US and affected the countries like UK; Canada; Japan; Australia; China; New Zealand; India; France; Greece; Spain etc. Therefore, the impact of global economic crisis is crucial to be analyzed further. This crisis also affected the economic condition of Australia. The housing bubble can lead to bursting of the property market, that affects the investors to a larger extent. Therefore, it is utmost necessary to evaluate the changes in the property market due to global economic crisis. Expected Research Outcome It can be expected that the though the global economic crisis adversely affected the property market in Australia. The price of property market has fallen but the country has escaped the bursting of the housing bubble. One factor is that the interest rate has not risen significantly and shortage of housing in this country prohibited the burst of the housing boom. However, it is expected that, there is significant risk is present in the property prices of the country. Through the research, it can be expected to find the method through which the crisis has channelized to the real estate sector from the financial market. Section: 2 Conceptual Framework and Research Hypothesis The global financial crisis and the property market have two causalities such as high-yield funds managed by Basis Capital and Absolute capital. The mortgage backed capital or securities had been changed to collateralized debt obligations. These were distributed to the middle market investors like local councils; schools; universities; hospitals. The non-bank mortgage or loan providers were in trouble as the housing prices started to decline. The non-bank loan providers were dependent on the short run funding, which were sourced from the investors of the US. As these investors lose faith on the assets like property, the no matter where the mortgages belong. This has led to difficulties for these non-bank lenders. They were the first victim among the corporate of Australia to the global crisis. However, the Australian banks were less exposed to the sub-prime mortgage-backed securities. In addition to this, there was shortage of supply in the housing market. Therefore, the busting of t he housing bubble was not so severe in this economy. The impact of the financial crisis was identified when the crisis shifted into liquidity phase. The banks are the biggest institutional borrowers in this country (Flannery, Kwan Nimalendran, 2013). They heavily relied on the off-shored financing and found very difficult to refinance their maturing debts. It has been found that due to increasing numbers of slowdown of the companies and property developers caused augmentation of the losses of banks-loans. The housing price of this nation has not fallen unlike US, as it was protected by the higher incomes and comparatively low interest rate. However, some studies have found that high population and shortage of housing are the sources of high price of the houses. Forrest Yip (2011) has opined that, the doubling in the housing loan is crucially remarkable and thus entails serious apprehension. This is not because of the fact that period is short and growth in the wages lowest. Rather it is because of the huge obstacle that had emerged because of the high rate of interest. The property market remains in the rigid grasp of the housing bubble of the history of Australia. According to the opinions of two housing economists, Melbourne is considered as the epicenter of the historic bloodbath in context with the housing bubble (Hynson, 2010). The Sydney and Melbourne has reflected significant decline in the sales and leasing activities in 2008. However, the resource boom of the Queensland supported the property market of Brisbane. By March 2009 (Easton Kerin, 2010), the wealth and the income condition of the citizens has declined by 10% as the impact of financial crisis on the property market has led to largest decline in the equity prices. the common citizens of the country suffered in order to afford better housing that has led to bankruptcy (Yates, 2012). The effectiveness and the value of the property market have been reduced in Australia as the asset prices have decreased. In the period before the crisis, the office building sales in Brisbane amounted to 2.275 billion AUD, whereas, from 2008 to 2009, the 11 sales were made that has accounted for 671 million Australian dollars only (Tomlinson, 2012). This reflected the fact that the sales volume in the crisis period was dominantly captured by the low graded private buyers rather than the prime or institutional buyers. The reason behind the fall in the sale of office property was that the investors lagged finance and they have less confidence on the business. This is mainly because of limitations in the development activity as the existing firms postponed their commitments. Many have opined that the Australia was one of the lucky countries that were less affected by the global financial crisis. Another factor that helped the countrys property market to e stable was that its strong terms of trade (Eves, 2010). Moreover, the growth of the Chinese economy on which the country has been heavily d ependent on and the resource boom protected the country from drastic downturn. However, the government of this country intervened to keep the rate of interest of housing loans at a lower level, which has helped to transmit their margin of profitability and develop their property market. The government intervention also helped the real estate market to recover quickly from the negative impact of the financial crisis. The housing market of Australia has returned to the better financial position successfully than other countries and achieved recognition. Based on the problem statement and the research objectives, the Research Hypothesis can be proposed as follows, that can be tested in the research conducted. Null Hypothesis (H0): Global Financial Crisis has no significant impact on the property market of Australia. Alternative Hypothesis (H1): Global Financial Crisis has significant impact on the property market of Australia. Methodology In order to conduct the research, it is important to follow proper methodology. This paves the way for the researchers to determine the way that they have to carry out. Research Philosophy: There are three types of research philosophy: Interpretivism; Positivism and Realism (Panneerselvam, 2014). This research undertakes the positivism philosophy, because, impact of financial crisis on the property market of Australia can be understood by analyzing the obtained data. Only the data related to the topic will be analyzed. Research Approach: The approach of a research can be of two types, inductive and deductive. The approach is said o be inductive when the research aims to develop any theory based on the research. In contrast, the deductive approach is chosen when the researcher tries to use existing models and theories in explaining the findings of the conducted research (Pickard, 2012). Since this proposal has stated a hypothesis and aims to analyze the ways in which the crisis has affected the property market, it is a deductive approach of the research. Research Design: There are three kinds of research designs, such as, explanatory; exploratory and descriptive (Mitchell Jolley, 2012). The exploratory design adds extra insights to the findings. Explanatory design of research explains why the findings are of the type they are. Descriptive design indicates how the findings are taking place. In this research, the impact of crisis on the property market is to be analyzed. Moreover, to answer the research questions, the factors affecting the property market in the country have to be identified. Therefore, it is mainly based on describing the findings obtained from the data; hence, it is descriptive in nature. Research Method: There are two kinds of methods adopted in a research. Qualitative method and quantitative method are two research methods. When the research is based on data that are numerical and numerical values are analyzed, then the method is quantitative (Creswell, 2013). In this case, the statistical tools can also be applied. When the analysis is made based on the information that are non-numerical are known as qualitative data. This method follows observation and experiments and no mathematical analysis is required (Matthews Ross, 2014). In this research, the method of the research is both quantitative and qualitative. This is because; to check the effects of the financial crisis on the housing market, the prices of this market has to e analyzed. This requires quantitative analysis, like whether the prices are going up or down and how significant is the changes. Moreover, the research also takes into account the information regarding the factors; the scenario of the financi al market and government policies, which are qualitative in nature. Based on both types of information the research will be conducted. Data Collection Method: There are two kinds of data collection methods. One is primary data collection and secondary data collection. The primary data collection method is obtained when the researcher is collecting data from direct market survey through questionnaire or personal interviews (Robson McCartan, 2016). In contrast, the secondary data collection method is the one in which the data or information is collected from any other sources, like, journal article; books; websites; government publication of different survey etc. The data collection method o this paper is secondary in nature. This is because; both qualitative and quantitative data has been obtained from different journal articles and news articles. All the information regarding the effects of global economic crisis on property market of Australia has been obtained from the different sources. Hence, the research is based on secondary data. Data Analysis: The data can be analyzed statistically or by explaining the facts. The qualitative analysis can be done by explaining the possible factor affecting and analysis the market scenario. Moreover, quantitative data like prices of property and/or other financial indicators can be analyzed with the help of statistical tools like regression. This will help to identify the statistical significance of the factors in affecting the property market of Australia. Research Limitations: Time; finance and availability of information are the major factors that affect research. Due to limitation of time, the researchers may ignore many important aspects (Shipman, 2014). Lack of information may not give proper result out of the research. In addition this, finance is a major contributor in an academic research. Lack of finance may prohibit the researcher to get further information in detail. However, in this research, the information is vastly available and time is not also a constraint as it does not adopt primary data collection method. Section: 3 Organization of the Study In the Chapter One, of the research, information regarding the global financial crisis in the period of 2008 and 2009 and its impact on the real estate market of Australia, will be discussed. Research aims and objectives will be stated in this section. The research questions will be formed under this chapter as well. The Chapter Two will review the literature regarding the selected topic. It will discuss various concepts regarding the global financial crisis; and how it has influenced the property market of Australia. In the Chapter Three, the research methodology will be discussed. It will discuss the methods; approach; designs and philosophy of the research that is to be conducted. Chapter Four will be based on the data analysis. In this chapter, all the findings will be analyzed logically or mathematically. The results of this analysis will be used in answering the research questions formulated in the chapter one. In Chapter Five, the important findings will be summarized. If necessary, the paper may end with a recommendation. Gantt Chart Table 1: Timeline of the Project Task Start Date Duration End Date Research Outline 2-May 21 22-May Conceptual Framework 23-May 49 10-Jul Research Methodology 11-Jul 42 21-Aug Data Analysis 22-Aug 28 18-Sep Final Report Submission 19-Sep 21 9-Oct Table 2: Deliverables Table 3: Gantt Chart Project Budget and Budget Justification In order to complete the project within the stipulated period, the budget of the proposed research is around $3500. Justification While making the research proposal, journal articles or news articles are required. Accessing these has taken some charges. This has cost $500. In order to proceed with the Chapter two, Literature Review, further journal articles; textbooks and other online sources are required, in order to understand the deep insights of the topic. This will cost another $1500. The research is based on both qualitative and quantitative data. However, the research is not primary in nature, but to access secondary data it will charge about $1000. This is because some information are not available freely and need to be subscribed. In analyzing the data, statistical software or access to computers is also required. This will charge $500 more. Table 4: Budget Summary Task Cost Research Outline 500 Conceptual Framework 1500 Research Methodology (Data Collection) 1000 Data Analysis 500 Final Report Submission - References Austin, P. M., Gurran, N., Whitehead, C. M. (2014). Planning and affordable housing in Australia, New Zealand and England: common culture; different mechanisms.Journal of Housing and the Built Environment,29(3), 455-472. Brown, C., Davis, K. (2010). Australias experience in the global financial crisis.Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future, 537-544. Creswell, J. W. 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